Singapore
Chapter Six investigates the sources of Singapore’s interventionist, internationally-focused, funding-centric VC policy formula. Singaporean policymakers’ norms favor policies that offer financing and that attract international investors, which led them to adapt what they learned by seeking out further templates that fit their interventionist approach, including their adaptation of the Israeli Yozma Fund into a US$ 1 billion fund of VC fund. Hungry to implement other means of enticing blue chip VC investors to Singapore, VC policymakers improvised additional VC policy incentives beyond what they learned in their studies of Silicon Valley and Israel. They launched tax exemption schemes, a tax credit for investors’ losses in start-up investments and the Global Investor Program whereby foreign VC investors can obtain Singaporean permanent residency.