The Asia-Pacific region is a hotbed of innovation, nurturing a thriving startup culture across its diverse economies. With 159 startup ecosystems ranked in the global top 1,000, this dynamic region offers a fertile ground for entrepreneurial endeavors. In this article, we will delve deeper into the Asia Pacific startup ecosystems, highlighting their strengths, notable shifts in rankings, dominant cities, rising stars, and the intriguing competition between China and India. If you would like to make further analysis of the region, StartupBlink Pro grants you unlimited access to the full data behind our research.
Top 20 Asia Pacific Startup Ecosystems
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Diverse and Robust Ecosystems
The Asia Pacific region encompasses a wide spectrum of countries, ranging from the economic powerhouses of China and India to developed nations like Australia and Singapore. This diversity fuels a multitude of startup ecosystems, each with its unique characteristics and strengths. Notably, 19 countries from the region feature in the global top 100, underscoring their prominence in the startup landscape. These ecosystems benefit from a large talent pool, access to capital, supportive government policies, and a growing market demand for innovative solutions.
Shifting Rankings and Regional Leaders
Within the Asia Pacific region, there have been notable shifts in the rankings of startup ecosystems. Singapore has gained momentum, climbing one spot to secure the 6th position globally, highlighting its robust ecosystem and favorable business environment. Australia, although dropping one spot to 9th place, continues to foster innovation and entrepreneurial growth. China, while experiencing a slight decline, remains a powerhouse in the region, albeit losing its position in the global top 10. Japan, on the other hand, has made impressive progress, advancing two spots to reach the 18th position globally.
Dominant Cities in the Region
China dominates the regional startup landscape with seven cities featured in the top 20, including Beijing and Shanghai, which hold the highest rankings. India and Australia also showcase their strength, with four and two cities respectively in the regional top 20. In a noteworthy development, Jakarta has surpassed Hangzhou, becoming one of the top 10 startup cities in the region. These cities serve as thriving hubs, providing a supportive ecosystem with access to funding, mentorship, and a vibrant startup community.
Rising Stars and Notable Performers:
While established startup cities dominate the rankings, emerging cities are making their mark on the Asia Pacific startup scene. Nanjing stands out as a rising star, skyrocketing 88 spots to claim the 69th position globally. Bangkok and Pune have also showcased significant progress, with Bangkok ascending 25 spots to reach 74th place and Pune climbing 12 spots to secure the 78th position. These cities highlight the region’s potential for growth and serve as promising destinations for startups seeking untapped opportunities.
The Battle for Supremacy: China vs. India
One of the most intriguing dynamics within the Asia Pacific region is the competition between China and India. While the top-ranked cities in both countries have remained stable, India’s cities are closing the gap with Shanghai, a Chinese powerhouse. Bangalore, in particular, has demonstrated impressive growth, narrowing the gap with Shanghai from 11.6% to 5.2%. Moreover, New Delhi has also made significant strides, reducing the gap from 64.1% to 51.5%. If this trend continues, Bangalore has the potential to surpass Shanghai, solidifying its position as the region’s third-best startup ecosystem.
Startups in Asia Pacific Startup Ecosystems
1. PharmEasy
PharmEasy – Indias largest healthcare delivery platform
2. PayPay
PayPay is an online payment app.
3. Matchall
Matchall is a Consumer Upgrade company.
4. OP.GG
OP.GG creates profiles for gamers by analyzing game data from the games they play.
5. Quizizz
Quizizz is an education-based platform that offers engaging gamified quizzes and interactive lessons to any learner.
6. DianPing
A tech-driven retail company
7. BankBazaar
BankBazaar is the world’s first neutral online marketplace for instant customised rate quotes on loans and credit cards.
8. CarTrade
CarTrade.com is India’s leading online automotive market for buyers and sellers of new and used vehicles.
9. Homelink
Residential Real Estate
10. ShipRocket
India’s largest eCommerce enablement platform providing digital retailers an end-to-end customer experience platform.
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Exits in Asia Pacific Startup Ecosystems
Exit for a startup occurs when the founder sells the company’s ownership to an investor or another company. It is a strategy for many startups that have been decided on since their establishment. Here are some of the Asia Pacific startups with massive exits.
Flipkart
Flipkart is a an e-commerce platform in India.
2. Zhihu
Zhihu is a Chinese social network platform dedicated to questioning and answering.
3. BiliBili
Bilibili is an online entertainment platform featuring videos, live broadcasting, and mobile games.
4. Didi
Didi is a mobile platform that offers app-based transportation services.
5. Zomato
Zomato is an online restaurant guide and food ordering platform that allows users to order meals from restaurants and have them delivered.
6. Delhivery
Delhivery is an online delivery courier based in India.
7. BigBasket
Big Basket is India’s biggest e-commerce grocer and spans over 20 cities nationwide.
8. Kuaishou Technology
Kuaishou is an online video platform that allows its users to broadcast daily activities, habits, and more online.
9. Douyu TV
Douyu TV is A live sharing online platform.
10. Coupang
Coupang is one of the largest eCommerce companies in Asia.
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Unicorns in Asia Pacific Startup Ecosystems
Unicorns are startups that reach a valuation of one billion dollars or above. Below are some of the Asia Pacific unicorns from the StartupBlink database.
1. OyoRooms
Oyo Rooms, also known as Oyo Hotels & Homes, is an Indian hospitality chain of leased and franchised hotels, homes and living spaces.
2. Xiaohongshu
Xiaohongshu is a Chinese e-commerce platform that also acts as a social media platform for buyers and sellers to effectively communicate.
3. KLOOK
Klook is a world leading travel activities and services booking platform.
4. Cardekho
CarDekho is an Indian auto portal helping with car research, finance, insurance, used cars and any other aspect of car buying and selling.
5. PolicyBazaar
Policybazaar.com is now India’s foremost insurance aggregator and a leading fintech player globally.
6. ByteDance
ByteDance is a technology company operating a range of content platforms that inform, educate, entertain and inspire people across the world.
7. Cars24
CARS24’s mission is to revolutionize the way used cars are sold in India.
8. Acko General Insurance
Acko General Insurance is a digital insurance company with a license to underwrite and distribute bite-sized insurance products.
9. Lenskart
Lenskart offers prescription eyeglasses, contact lenses and accessories online.
10. FirstCry
FirstCry is an e-commerce platform making available for parents the widest collection of baby, kids and new mom products.
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Pantheon Members in Asia Pacific Startup Ecosystems
The StartupBlink Pantheon members are a selected group of special startup related entities with a substantial footprint on the global startup ecosystem. Here are some of Asia Pacific’s pantheon members.
With over 600 million monthly active users, WeChat has become one of the most impactful mobile products on the planet.
2. SoftBank
SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Tokyo, Japan.
3. Lenovo
Lenovo Group is a computer technology company that manufactures personal computers, smartphones, televisions, and wearable devices.
4. JD
JD.com, Inc., also known as Jingdong and formerly called 360buy, is a Chinese e-commerce company.
5. SHEIN
SHEIN is an international B2C fast fashion e-commerce platform. The company mainly focuses on women’s wear, but it also offers men’s apparel, children’s clothes, accessories, shoes, bags and other fashion items.
6. Zomato
Zomato is an online restaurant guide and food ordering platform that allows users to order meals from restaurants and have them delivered.
7. Asus
ASUS is a global technology leader delivering incredible experiences that enhance the lives of people everywhere.
8. Huawei
Huawei Technologies Co., Ltd. is a Chinese multinational technology company that provides telecommunications equipment and sells consumer electronics, including smartphones
9. TSMC
TSMC Taiwan world’s largest semiconductor foundry.
10. Rakuten
Rakuten, Inc. is a Japanese electronic commerce and Internet company based in Tokyo.
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Conclusion
The Asia Pacific region’s startup ecosystems present a thriving landscape, driven by innovation, capital, and supportive environments. With diverse countries, dominant cities, rising stars, and the ongoing competition between China and India, the region holds immense promise for entrepreneurs, investors and the global entrepreneurial ecosystem as a whole.
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