Contrary to popular belief, startups are not SMEs
They may look similar but are two different animals, each with its own policy and strategy
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A startup is a newly-established business, while an SME is (according to enterprise development agency Spring Singapore) a company with an annual sales turnover of not more than S$100 million or employment size of not more than 200 workers.
The former has become a buzzword, a term increasingly brandished around in the corporate world by chief innovation officers, digitilisation heads and fund managers, and in the public sector by politicians and government agencies - out of a wish to spur risk-taking and innovation.
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