We at SGA (Startups Greater Asia) have been working hard on new audio and video evergreen content for the website so bear with us because many exciting resources are forthcoming and we will be announcing events in the next few weeks. Now check out what’s been happening with Asian tech ventures over the past month!
The Bets are On China and Asia
People may be talking about volatility in the Chinese market and wondering how it would affect Asian and global economics, investments speak louder than words and investors continue to bet on China and Asia’s growth. Exemplifying this is Apple by investing $1Bn dollar investment in Didi Kuadi last week, building a new app development accelerator in India, and Tim Cook’s presence in China this week as Apple look to regain market share in Asia. Another heavy bet is Ant Financial’s new raise of $4.5Bn for its Series B round at a $60Bn valuation. Overall, Asian countries continue to experience a growth of foreign direct investments flowing in.
Increasing Government Support for Tech and Startups
The tectonic shift in this post’s title refers to the new proactive attitude of Asian governments in investing into the startup ecosystem. Not only are venture investments into Asia growing, Asian capital continues to be heavily spent on technology developments both abroad and at home. A momentum that has been building over the past year or so is now manifesting in actions: South Korea government is launching its first accelerator program to attract international startups to South Korea partnering with SparkLabs, DEV Korea, ActnerLab, and Shift. An unusual guest, the First Lady of Japan kicked off Slush Asia, a major startup/VC/tech conference in Japan held a week ago. Less developed economies in Asia are also determined not to fall behind as Thailand announced a state fund for startups. Indonesian and Malaysian governments entered into a partnership to jointly develop startup ecosystem… and this happens also to be a great example of our next theme…
Cross-Border Partnerships in Asia
This is only the start of a wave of partnerships between Asian countries whether on the level of government, corporate venture capital or venture fund collaboration. Alibaba is leading the way this month with its $1Bn purchase of SE Asian e-commerce site, Lazada, which may signal more cross-border purchases as Asian corporate ventures claim each of their territories in the budding SE Asian market. Business as usual transcends regional politics as Alibaba and Softbank move forward with a joint venturein cloud computing in spite of long standing, violent political disagreement between China and Japan. Beyond Asia, Asian nations continue to strengthen their ties with Israel and Kuang Chi’s new fund for Israeli smart city tech is just one recent example.
EVENTS OF INTEREST
Jiangmen and Silicon Valley Investment Forum
Being a founder requires you to face up to failures on a daily basis, see what this Princeton professor has to share.
Looking for an accelerator in Asia? See this infographic.
Neil Patel’s great list of Dos and Donts for Founders.
We’d love to share more news and events with you, subscribe here if you like what you are reading! We are also currently looking for interns to join our growing organization. Contact Christina Hsiang if you have other ideas for collaboration.