Law ‘to keep up with, anticipate’ tech changes

SINGAPORE — The Government will keep pace with, as well as anticipate changes in, technology to establish a legal and security framework and foster a nurturing environment for entrepreneurs, said Law and Foreign Affairs Minister K Shanmugam at a dialogue with start-ups yesterday.

Asked whether the Government tries to anticipate changes or is reactive to developments when making laws that cover technological disruptions, Mr Shanmugam said: “I would say it’s a bit of both. It’s our task to try to keep track of the changes and potential changes, and predict where the world is going. Would the Government identify the industries that would succeed, then invest and make sure it works?”

“I think that’s a loser’s game. You educate the population, you expose them, make sure they are able to be well-equipped to look at the latest trends and challenges, and seize opportunities. If you know what the latest technology and disruptions are, then you try and keep … pace with that, and try to anticipate a few of the changes, and create a helpful environment for them.”

At the dialogue, which took place at the opening of a new collaborative working space by start-up community The Hub Singapore, Mr Shanmugam also stressed that Singapore needs to protect intellectual property (IP), “rather than (take) an easier route, which is to allow people in the name of creativity to do what they like, and not protect IP so much, which is a route other countries have taken”.

He also urged companies to use Singapore as a base to seize opportunities in the huge ASEAN market with its population of 600 million.

“Closer economic cooperation, one economic community … not as integrated as people would like, but happening. Then we look at the bigger market, and when we talk about the disruptive technologies, all around you, it’s possible, (with the) huge market, growing middle class, within five years ... there is scope. And there is only one place to do it, and it is Singapore,” he said.

On whether the Government and politics here are ready for disruption, he said rules and laws have to adapt to the changing landscape. He stressed, however, that the country has to be successful, and there has to be peace and security.

The Hub Singapore, founded in 2012, opened its new 8,000 sq ft collaborative working space at 128 Prinsep Street yesterday. The area offers start-ups up to 160 co-working and permanent desks, eight team rooms and six meeting rooms, among other event spaces and facilities. This is 60 per cent more space than its previous co-working space at Orchard Road.

Ms Grace Sai, CEO of The Hub, said a new fund will also be launched by the fourth quarter to finance start-ups. It has garnered S$300,000 in pledges to date and is expected to grow close to S$1 million by year-end.

“This next phase will see us focusing more on collaborations across the ecosystem, especially with corporates who want to connect with startups, the government, venture capitalists, investors and media partners,” she said.