You can't easily see technical co-founders starting companies. As such, most Singaporean startups are under the impression that building software can be outsourced to cheaper countries like India/Philippines.
They don't seem to understand the difference between, "IT" and "Software Engineering". The good engineers fight the system and eventually migrate to greener pastures like SV.
I know some iOS developers who were offered salaries in the range of $3500 to $4000 a month (matching a IT salary and not that of an Engineer's), almost three times as low as SV, despite being a expensive city to live in.
There's no shortage of smart, hardworking engineers. There's a shortage of smart, hardworking engineers willing to work for very little money.
If you're having trouble hiring, it's because you're not paying enough. It turns out that talented people are worth paying a lot for.