There is often a tremendous focus on the latest and largest investments in tech firms in the United States. Recent reports indicate that this trend is now shifting, in favor of increased focus on investing in tech companies and digital marketing in Asia. Asia is very young and fresh in terms of technology. In fact, economically, Asia has really had its growth spurt only in the last few decades.
The significant investments made in Asian tech are certainly paying off. According to a report in Times of India the technology entrepreneurs in India and China now rank among the top tech billionaires in Asia. Three entrepreneurs from India have a combined net worth of more than $40 billion, while five entrepreneurs from China have a net worth of more than $67 billion.
There are certainly plenty of reasons for investors to focus their attention on Asian tech firms. While Silicon Valley is often considered the cradle of tech, Asia is actually home to more technology firms than the United States. The Asian tech market is not just massive; it is also innovative and evolving rapidly. The tech startup scene in Asia is so large and growing with a rapid pace that it can sometimes be difficult to track such growth.
There are so many startup ecosystems across Asia. They give us all a very intimate picture of what the most important centers of commerce and technology in Asia have to face in the next decade. Here’s the list of some startup ecosystems across Asia.
Singapore
Singapore is the first stop in Asia for the majority of westerners. It is often ranked as one of the top places to live in the world and is poised to take over from Switzerland as the largest offshore wealth center by 2020. It has the most developed startup ecosystem in the region with a handful of growth stage startups and much more in angel or seed stage. It is a gathering point for startups in the region and serves as a launch pad for local, and more often foreign, entrepreneurs to launch their businesses for the region.
Tokyo, Japan
Of course, Japan is one of the more mature markets in the region, and it’s got big influential hits that shape the region. The center of all the activity is in Tokyo. On top of the big startup successes, Japan’s education system is particularly supportive, with incubators like Open Network Lab attempting YC-like startup acceleration.
Taipei, Taiwan
Taipei is rapidly becoming one of the most vibrant startup scenes in Asia. There is the Startup Digest Taipei mailing list where people post-startup events. And you can see workshops, forums, meetups, and mixers happening all week long, every week.
Hong Kong, China
Hong Kong has been rated one of the world’s top four tech capitals to watch after star-studded Silicon Valley and New York in a recent Forbes’ article.
India
India has now become one of the largest hubs for startups in the world after the United States, United Kingdom, and China. Technology companies in India have driven growth, created jobs, increased access to resources, education, and healthcare, resulting in falling poverty levels and improved lifestyles.
According to a report by NASSCOM, India is ranked as the 3rd largest startup ecosystem with more than a 100 accelerators, 200 active angels, 150 VCs, and over 4,200 startups operating in the region. The nation is on the forefront of innovation, technology, and entrepreneurship.
These are the various examples that show that the Asia is the next startup to scene.
