The article points out that Singapore’s kiasu culture may ironically be holding it back from modernising its economy. Due to this culture of fearing failure, Singaporeans are seemingly less willing to engage in innovation, as the latter involves the process of failing repeatedly before attaining success. The impasse that entrepreneurs face is this: despite desiring to blaze a trail within the field of digital transformation, they are simultaneously unwilling to risk failure in an unknown territory. Nonetheless, at least conversations about the importance of failure are coming up in public discourse, which will hopefully change the entrepreneurial landscape in Singapore.
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'Kiasuism' may be a factor holding back Singapore's digital transformation