Business incentives: beyond tax breaks and talent

Singapore Sessions event, held in association with Monocle_

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Business incentives: beyond tax breaks and talent

Held on the 1st of December, 2011 in London, this Singapore Sessions discussion, in association with Monocle, examined the various factors that turn a nation into a business magnet. Tax breaks and talent acquisition aside, will culture and other intangible assets make countries more attractive to businesses? Moderated by Tyler Brûlé of Monocle, this special closed-door event invited three experts from diverse fields to share their thoughts on this challenging topic.

View the taped discussion here.

Moderated by:

Tyler Brule

Born in Canada and based in UK, Tyler Brûlé began his career as a reporter for the BBC, before turning to print journalism - for the likes of The Guardian, Stern, The Sunday Times and Vanity Fair.

He was responsible for the launch of Wallpaper* in 1996 that went on to become a huge publishing success. And in 2001, Brûlé became the youngest ever recipient of the British Society of Magazine Editors Lifetime Achievement Award.

In February 2007, Brûlé launched Monocle, the second ground-breaking publication of his career. It is an international briefing on current affairs, business, culture and design.

He was awarded Ad Age's 'Editor of the Year' trophy in October 2011, an unprecedented award for an International editor.

Brûlé is also a regular columnist for the Financial Times.


The Session

Jonathan McClory Vicky Richardson Wally Olins




Canadian journalist, successful entrepreneur and magazine publisher of two ground-breaking publications, Tyler Brûlé is the youngest ever recipient to receive the British Society of Magazine Editors Lifetime Achievement Award.

Now editor-in-chief of Monocle, watch Brûlé as he opens this special discussion with three different experts in diverse fields on what business innovation really means to creative communities, societies and hubs across the globe.

About the sessionists

Jonathan McClory

Jonathan McClory
Senior Researcher of Institute for Government
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Vicky Richardson

Vicky Richardson
Head of Design, Fashion and Architecture of the British Council
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Wally Olins

Wally Olins
Chairman and co-founder of Saffron Brand Consultants
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Jonathan McClory

Jonathan McClory

Senior Researcher of Institute for Government

Question: Educational institutions are important in terms of attracting talent. But how vital is it in luring the necessary investment into the country?

Yes and yes. I think at the core of it, it has a lot to do with technology.

"Very important on two levels", replied McClory. "If you have world class education institutions, it means the workforce is better, and you're going to have a more developed, more innovative economy."

McClory also believes that this helps countries attract greater talent on a bigger scale.

"There is a link between foreign students and the positive ripple effect they would have on others when back in their home country. The exchange value is high."

Vicky Richardson

Vicky Richardson

Head of Design, Fashion and Architecture of the British Council

Question: Everyone wants to be a creative hub and have a creative community. But has the idea been overused or lost its "luxury" sheen?

"Not at all", said Richardson. "It's still beyond everyone's grasp and most of the times the situation almost arrives by accident. It's the question of how you engineer for a creative hub, something that people still grapple with."

But Richardson believes that even if it's possible to plan there are things to note when it comes to a creating a creative hub.

"Sometimes the ingredients for a creative hub are not the ingredients that come through policy measures and economics. But when it comes to creativity, culture and innovation needs to be completely aligned."

Wally Olins

Wally Olins

Chairman and co-founder of Saffron Brand Consultants

Question: Does a government need to be financially active to stimulate creativity and innovation?

"It isn't just governments that don't comprehend", Olins disagrees, "it's the whole world and how they operate."

"The problem is not just the government alone; it's an industrial, commercial, academic problem. Most universities and proper business schools do not take creativity seriously."

Adding on, Olins strongly believes that, "until there's a real bond between the creative arts, the way we teach people and business, everything else is a waste of time".

"What they take seriously is adding up in finance, and what they call marketing", replied Olins.

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