NewsAsia reports that Global Entrepolis SIngapore launched something with the catchy title of "HOTFunds" (Hub of Technopreneurs Funds).

Of course, gagglescape.com loves to look at regions of the world where they actually believe their future economic well-being depends on stimulating and supporting young companies. In Ontario's fat, Income Trust inspired financial climate, we don't believe in the future - only the past.

Singapore, on the other hand, started the whole "Asian Tiger" movement back in the eighties and nineties and knows how important it is to have an economic vision. In this case they created a new venture capital fund worth S$530 million. Here is a quote that will make local entrepreneurs weep:

"We see large pockets of innovation developing particularly in Singapore, China, India and across Asia because of the increase in research & development and the government's focus on encouraging innovation," says Pierre Hennes, partner at Upstream Ventures.

"So for us, the venture capital and angel investors play a fundamental role in fostering that and helping the young entrepreneur take that risk to start a business in the global and regional market."

Venture capital investors at HOTFunds say Singapore, with its small market size, is ideal for start-ups to establish itself [sic] and make early mistakes before venturing out to the regional and global market.

Amen. Now that the Income Trust pork barrel is done can you guys in the financial community get back to fundamentals. It is fundamental to our economy that we compete with the Singapore's of the world. If we don't we will be a 3rd-class nation selling water and oil - for as long as it lasts - to other countries who invested in their economic future.