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7 best places for tech startups

Whenever we hear about tech we focus on the first world or developed countries. But the era is now changing. Greater opportunities are now being available in the Asian countries. Why I am focusing on Asia is because the best places for tech startups is now in the Asian countries. It’s quite simple, if we look at statistics and data, we notice that developed countries have already focused on their IT infrastructures. So to have a startup in a country where key players are Google, Microsoft, and Apple, is like making fun of yourself. So we did a lot of desk research and talked with a lot of tech people and listed the 7 best places to start up in tech for our beloved HiFi people. Before I begin to bore you, let’s start looking at these places.

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[button link=”#” size=”large” target=”self”]7) Seoul, South Korea[/button]

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Why Seoul, South Korea is in the 7th place is because the Korean government is tremendously supporting startups and young entrepreneurs. If you look back, Korea even facilitated large conglomerates like Samsung and gaming companies like Nexon, to hone their skills and knowledge with the Korean expertise, to expand the Korean brands beyond borders. Hence, the government is now focusing on developing their own companies to also decrease the unemployment rate. Korean companies like Kakao, and Ticketmaster, are also playing a vital role in the financial sector. Therefore, startup loans are available at a minimal interest. Seeing South Korea’s progress in the tech sector, North Korea is also working to improve their openness towards entrepreneurship on their part.

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[button link=”#” size=”large” target=”self”]6) Hong Kong, China[/button]

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Many of us don’t know that Hong Kong is rated in Forbes magazine as one of the top four tech capitals after Silicon Valley, despite having potential investors and lack of investors in the tech sector. Therefore the government of Hong Kong already opened renowned universities to teach computer science and research center to develop the skills of their tech people. Apart from that, we also notice that the culture of a start up in the tech sector is developing. In the last few years co-working spaces like Cocoon, The hive, Good lab have flourished and is trying to bring in new talent from other countries.

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[button link=”#” size=”large” target=”self”]5) Kualalampur, Malaysia[/button]

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With the aid of the Malaysian PM, the country is  moving towards a new ICT enabled and digitized country. Because of his belief and support towards the ICT sector, and believing that technology will play a vital role in the economic transformation he is focusing on developing an IT infrastructure. In the recent times, start ups mainly in the IT sector increased a lot. Which is supported by the government as well as private agencies. An example is the Cradle fund, in which assistance is provided via a seed or commercialization grants, which are carefully managed by entrepreneurs to mentor programs. Also, banks and other non banking financial institutions are working side by side in supporting the tech startups. Apart from the conventional funding, there is a developmental league where by hopeful entrepreneurs are pitted against each other and winning helps them earn contracts and grants. One of the successful tech startups is Teratotech.

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[button link=”#” size=”large” target=”self”]4) India[/button]

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Whenever we say Asia, we can’t skip India. It’s because India is diverse in every sector. Most importantly India is now competing with international IT giants & even providing back end support to large tech giants. In India you will surely find entrepreneurs from 21 to 61 years of age, who are using technology in their daily task, which is very tough to find in other developing Asian countries. Also here is a surprising data which you might find interesting. Every year around 970 technology-product entities get started each year in India and only about 380 actually incorporate the entity as a corporation. But there are three main challenges that the Indian technology ecosystem faces, to which there are no short-term fixes. The first is the paucity of exits, second is the lack of a sophisticated angel investor and mentor ecosystem, and third is the inherent risk-averse nature of the Indian middle class. However, India is still moving ahead faster than its neighboring countries.

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[button link=”#” size=”large” target=”self”]3) Beijing & Shanghai, China[/button]

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China is an expert in every sector. From the beginning of the tech era, they are the ones who are well established in the industry. Still, there are a lot of problems that the Chinese people face. One of the biggest problems is that the Chinese people are banned from using a lot of websites. So to know about their competitors or to learn new tactics is a major problem for them. But the good news is, like other competitors, the Chinese government has now learned to invest in tech startups. Now in Shanghai & Beijing, startup weekends are taking place frequently. But people are more eager for start up contests & investors. On the funding level, there are strong funding interests in China from a wide variety of sources, which makes it not too big a challenge to get funding for a successful enterprise. Interest in e-commerce seems strongest, with anyone from Sequoia Ventures to GGV Capital to California’s Bluerun Ventures, being especially keen on innovative e-stores. 

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[button link=”#” size=”large” target=”self”]2) Tokyo, Japan[/button]

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Nowadays, the giants like Hitachi, Sony, Toyota, Fujitsu no longer all that hyped as the Japanese government is now supporting sme & startups. The old players are now making way for the new players. Companies like Gree, DeNa are becoming much more influential in the market. Apart from that to make the market more competitive the government is very supportive with incubators like an Open Network Lab. But there are certain drawbacks too. There is a low risk culture, but high rent costs, and a small ecosystem. But still, even with fewer resources the Japanese are managing to reach the peak.

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[button link=”#” size=”large” target=”self”]1) Singapore[/button]

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Singapore is in the top in our list of the 7 best places for tech startups. Apart from that, it is listed as one of the best places to live after Switzerland. In other words, Singapore is very rich, has excellent infrastructure, stable government, as well as a decent legal and financial system. It has the most developed start up ecosystem with a large number of tech startups. However, being the number one has its own drawbacks too. Its potential is already threatened by tighter immigration control. Also rise in talent pools in the neighboring countries is a big threat. It needs to work harder to stay in the number one position.

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