The Rise of Startup in Asia

    Startup business is currently a very happening business trend in Asia. In the last 5 years, numerous startupsworth billion dollars continue to grow and develop in Asia. One of the most phenomenal success is Alibaba, a techno-giant from China specializing itself in e-commerce. Starting from a home-based business, Alibaba is now employing around 20.000 people.

   Initiated by simple ideas and innovation, technological startups have evolved into the axis of economic power. Startups are well aware in utilizing technology to deliver solutions. A new approach toward the problem allows the emerge of fresh and innovative solutions. More and more startups are continuously springing, replacing the key players of conventional business. China, India, Singapore, and Israel are among the Asian countries with the most rapidly growing startup industry. Startup companies cover various fields: software,hardware, e-commerce, transportation, gaming, finance, etc. According to Wall Street Journal, 7 of the10 largest startup in Asia come from China; among those are Xiaomi, Lufax, and Didi Dache-Kuaidi Dache. This rank was followed by India with Flipkart and Ola Cabs. Xiaomi, a smartphone company based in Beijing, is not onlly the largest start up in Asia, but is also one of world’s most enormous tech-company with a value of US $ 46 billion. Whilst, FlipKart is e-commerce book company from Bangalore; targeting market customer of small and medium merchants.

    Unbounded by physical boundaries, startup activists tend to be flexible in adjusting working hours and preference of working location. This allows startups to work more productive and more efficient. Cafe and incubator are working spaces commonly used by startups. Such working spaces provide free internet access, power supply, and also work desks for young entrepreneurs. Working space also allows people to meet face to face, exchanging ideas.

    Asia holds annual conferences to bring together activists in technology from various startup communities; investors, entrepreneurs, media, companies, developers, and also students. The conference, held four times a year, is called Tech Up Conference. At the conference, the interaction is not only limited to  B2B (business to business), but also B2P (business to people), and even B2G (business to government). This year, Tech Up Conference will be held in Jakarta in upcoming November.

    Startup is a very interesting business phenomenon. Startup and technology are inevitably linked with Silicon Valley, a home of tech giants that are located in the United States. Now, in many Asian cities, there appear various ‘silicon valleys’ with products and services that are more up to date and more competitive. Asia’s market advantage is its young workforce that are in productive age and the size of the market. The combination of the demographic bonus and also the massive market is very attractive and promising for the development of startups.