Singapore's number of active start-ups increases in recent years

The number of active start-ups in Singapore rose by 58 percent over seven years to 39,000 in 2012, Minister of State for Trade and Industry Teo Ser Luck said on Tuesday, citing a study. The study by the Entrepreneurship Review Committee also showed that the number of successful start-ups have increased, too, and that more youths are thinking of becoming entrepreneurs. It is widely believed that the more small and medium enterprises an economy has, the economy will be healthier and more robust. Teo told the parliament that the committee has recommended that the private sector play a larger role in shaping the entrepreneurship landscape. "The committee recommended that focus be given to helping start- ups grow, through facilitating collaboration with larger companies and expanding overseas," he said. It also recommended "continued focus on infrastructure to support start-ups, and training and education to equip youths with entrepreneurial skills," he said.