5 Asian Countries Perfect for Your Tech Start-Up
Asian countries are reputed at an international scale for the level of investments in the technology sector. Even though tech companies can thrive in numerous Asian countries, several juridisctions provide the most appealing business environment, attractive conditions and incentives that can rapidly increase the value of this type of business.
Set up a tech start-up in Singapore
Amongst these, Singapore is known as one of the leading markets for tech startup and several types of activities are very well represented on this market. Investors who are considering to set up a tech start-up in an Asian country, may choose Singapore if they want to start a business in sectors such as:
- fintech sector (taking into consideration the fact that the finance sector represents approximately 13% of the country’s economy);
- Smart Urban Solutions, through the usage of the Internet of Things technologies (in this sense, Singapore is one of the most popular business destinations);
- robotics – this sector registers the fastest growing rate in the Asian countries, compared to any other region.
Japan, one of the leading Asian countries for tech start-ups
Japan has traditionally been known at a global level as one of the main markets for the creation of tech products. Over the years, companies operating in the tech industry experience various ups and downs, but the country is still one of the main market on the development of tech products and services.
One of the main reasons to start a company in this sector in Japan is given by the qualities of the consumer market, which provides a high level of market potential for tech businesses, as Japanese are highly interested in high tech products. For example, persons with an age between 15 and 24 years old (more exactly, 99.5% of them) are considered „digital natives”, in the sense that they have interacted with tech products since they were very young.
Start a tech business in Hong Kong
Companies operating in Hong Kong in the technology sector are usually specialized in creating applications and innovative products that can be used in other economic sectors, such as finance and e-commerce. The country is one of the leading jurisdictions in terms of competitiveness in this sector, as revealed by the Global Innovation Index Reports (which states that, in 2017, the country ranked as the 7th global economy for digital competitiveness).
Why invest in Thailand?
Foreign tech companies may invest in Thailand as the local government has recently changed its policies, shifting to the development of the high-tech industries, from a labor intensive manufacturing economy.
Register a tech business in India
The technology sector in India is estimated to have a total value of $ 1 trillion by 2023, generated by the following main tech activities:
- Internet of Things (IOT)
Regardless of the Asian country chosen for starting a tech company, before investing in the respective jurisidiction it is advisable to verify the main business forms available for foreign investors, the capital requirements imposed in this case or the incentives available for a specific tech activity and the requirements imposed for obtaining various grants and loans, in order to increase the value of the company on the respective market.