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Singapore's high tide of tech startups surf digitalization boom

Fintech and edtech companies flock to Asia's welcoming Silicon Island

The startup-incubation space Block 71 in Singapore. The nation is said to have a fertile environment for startups. (Photo by Akira Kodaka)

SINGAPORE -- There has been a wave of startups in Singapore that hope to emulate the successes of Sea, a global internet consumer company with a market capitalization of more than $200 billion, and Grab Holdings with its food delivery and digital payments app.

Singapore offers many advantages beyond its central location and easy access to other Asian markets and English-speaking economies. Government efforts to lure foreign capital -- including tax breaks -- have made the island-state a haven for tech startups.

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