China's road to world technology domination begins in South-east Asia

Singapore

ISAAC Ho and several investors were watching a pitch from a cancer-detection startup in Singapore when one of the Chinese billionaires present got up and - without a word - scrawled "Speed x Market Share" in Chinese characters on a whiteboard. It was a simple formula that meant: be first and be largest, no matter the cost. But that is when Mr Ho understood how the South-east Asian tech scene was about to change.

"It was the moment that I understood the Chinese strategy," said the founder of Venturecraft Group who is known in local medtech circles for whisky-fuelled networking parties. "If you are not the No 1, you will become obsolete; if you are the No 1, you can buy the newer technology. It's a winner-takes-it-all game."