Everyone knows about the innovation coming from Silicon Valley. But Asia startups have more untapped potential than anywhere else in the world. Tech firms based in the region have access to more consumers while benefiting from greater economic growth than in the west.
Mobile spending is becoming big with some markets’ growth to rely on it in the future. A report from Forrester expects online spending in China to reach US$1 trillion in 4 years through the growing use of mobile apps.
An environment where people will use mobile devices with improved networks, increased application usage, and more e-commerce entails emerging opportunities for every type of business.
Asia Startups Can Access More Consumers, Grow Faster
A major reason to invest in Asia startups is because of a huge market size. The continent’s population is very large, with an estimated 4.3 billion people living in the Asia-Pacific region in 2014. This represents 60% of the world’s population, not only entailing a huge pool of potential customers, but also for untapped talent which has yet to be discovered.
Growing population along with easier access to an evolving tech industry will help more talent form in the fields of engineering and design. Opportunities in Asia are limitless with a promising future talent pool.
There’s still a lot of room for creativity and innovation. Most of Asia is not yet in the mature stage which the United States and Western Europe is. Thus, the Asia startup environment is growing at an incredible speed, making it an inspiring place to conduct business in.
India Ranks Best Asian Country for Tech
India is the fastest growing startup ecosystem in the world according to a study by the National Association of Software and Service Companies. The country is launching nearly 800 startups per year.
Most large Asian cities are equipped with advanced infrastructure. This helps the process of business creation and enables rapid growth. Asia has received a lot of investment both in economic and social infrastructure and improvements are clearly visible.
A growing trend of economic liberalization, an untapped pool of consumers, great infrastructure, and a rapidly growing start-up scene all bode well for Asia in the 21st century.
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