Day 5

We already started to get nervous during breakfast and discussed intensively about the upcoming group presentation. During the whole week we worked on a business case with field research, which we had to present today. As expected, we all found each other in the hotel facilities finalizing our presentations.

At 14:00 all groups met in a conference room in the hotel and were ready to present their results and conspicuous features. In the following sections we summarize our findings:

Group 1 has worked on the research question: Which payment methods are mainly used in Singapore and how do they work? As a result, Singaporeans use credit and debit cards most, followed by cash and wireless payment such as wallets and QR-codes are becoming more popular.

The second group dealt with the topic of the App economy in the food delivery sector. They presented Grab’s concept, which combines delivery services with driving services, scooter rental and other services in one app. Opportunities for the Swiss market were also highlighted.

Group 3 explored the government’s ability to tackle declining health and rising health costs through digital data collection. In conversations with locals, they tried to find out how Singaporeans integrate fitness into their stressful daily lives. Surprisingly, they learned that the Singaporeans are having a different attitude than Switzerland. They are very open about sharing personal data.

Singapore is listed on the Ease of doing business report on the second place and hold for years the first place. But is doing business in Singapore really so easy as we think? This question had to be answered by the fourth group. For that purpose we had the pleasure to meet several startup founders. Although the administrative process to register an entity is very easy, the challenges lies in the money raising, client acquisition and network establishing. The spirit of those founders was overwhelming and impressive to all of us.

Group 5 investigated about individual transportation in Singapore. We found out that the majority of people use the app Grab, with which you can order a taxi to a certain place within a few minutes. We wondered whether the app was also very popular with students. Because of that, we interviewed 30 students at the National University of Singapore. According to our research, students do not use “Grab ” that often and prefer public transport for cost reasons.

All groups received feedback from Prof. Dr. Petra Barthelmess and Mr. Andri Färber. This was a great moment to thank Ms. Anika Wolter for all organization during this trip and Ms. Michelle Stegmann (Swiss Economic Forum) for joining us and taking all photos and videos.

Afterwards we were able to demonstrate our acquired knowledge about Singapore in Online game with a Kahoot and reflecting the week during a feedback session. 

We set off for our last dinner together, delicious seafood, before we went to the airport. 

Compared to our lively breakfast, we ate the food in the plane very calmly, almost sleepy. Were were quite tired and snuggled up in the blanket right after the start and slowly dawned thinking about all fascinating impressions of this week.

Thank you for this wonderful and exciting time in Singapore.

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