Startups and corporates carry potential of emerging markets

ASIA is radiant with entrepreneurial heat these days. Cities such as Beijing and Singapore are showing up on lists of the top startup ecosystems in the world (Startup Genome, 2017). Inspired by local success stories such as e-commerce platform Lazada and ride-hailing app Grab, some entrepreneurs are doing away with the traditional uphill climb in Silicon Valley, opting instead to find a foothold in the developing East. Emerging from the global financial crisis in 2009, South and South-east Asia have built towards this moment particularly well and are currently experiencing something of an innovation boom. Startups certainly deserve some of the credit for this progress.

The virtuous cycle

Beyond pure, direct job creation, young companies breathe life into their sectors, create employment in related industries and inspire innovation on the part of their competitors and larger corporate counterparts. And once a startup gains traction and turns a profit, the fiscal rewards reverberate in the regional economy. The newly rich reinvest in the businesses of peers and partners and on it …