The scheme called First Mover Advantage was introduced in Singapore to boost the development of advanced business ideas optimising the use of public parks, buildings, state land or other government properties.
The said scheme is open to all people, including permanent residents, Singapore citizens, small and medium-sized enterprises, foreigners, foreign businesses, and multinational companies.
Among the business ideas that were acknowledged under the new scheme include table-tops advertising at hawker centres, an environmental centre located at Pulau Ubin, and a hub that focused on constructing sandcastles at the East Cost Park.
If a public agency agrees in the implementation of the idea of an individual and if it meets the criteria, the said individual will be benefitted with the price advantage or allocation advantage, or both.
The price advantage allows an individual to use public assets at lower rates, like renting a state land at a discounted price, while allocation advantage enables that individual to allocate public asset on favourable conditions. For instance, he can utilise the public asset under a determined trial time without bidding.
Granting a number of advantages to first movers will strengthen the incentives of entrepreneurs to seek latest business models, which involves physical assets of the public. This will encourage the diversity and growth of business ideas in a more effective use of public-sector assets, as well as in a pro-enterprise environment.