Startups in the Asia-Pacific region - statistics & facts

Startups are companies with innovative business ideas and high growth potential, often operating in a young or non-existent market. Once established, they are generally no longer considered a startup. However, they often keep their successful startup approaches such as innovation capacity, flexibility, modernity, and flat hierarchies, trying to incorporate them into their business culture. Although startups can penetrate every sector that meets the criteria of innovation and scalability, most startups fall in the technology and internet sectors. The focus on tech, which means that almost no goods or other infrastructures are required, makes it possible to found startups without requiring an office space. This flexibility has caused the rapid emergence of startups worldwide. Although startups have been predominately associated with the U.S. and other Western markets, the Asia-Pacific region has begun to build a reputation as a hub of innovation. Within the region, China is home to several of the world's highest-valued startups.

Leading companies

In recent years, one of the most successful new companies in China was the startup Ant Financial, now known as Ant Group. China has the largest number of unicorns in APAC by far, followed by India. Indian telecommunications company Reliance Jio had the highest total disclosed funding in the Asia-Pacific region, while Ant Group had the highest value. In November 2021, mobile financial service bKash became Bangladesh's first Unicorn startup. Southeast Asia boasts an ever-growing number of tech unicorns, with recent standouts including logistics companies J&T Express from Indonesia and Ninja Van from Singapore. The subregion is a particularly attractive market for so-called super apps, with two of the most established startup companies in SEA being the ride-hailing and shopping apps Grab and Gojek. The latter joined forces with e-commerce giant Tokopedia in 2021. Under the name GoTo, they became Indonesia's most valuable startup, covering a variety of business segments, including on-demand and financial services.

Business environment

Ultimately, it is not the country itself but rather the demand on the market and the business environment which determine whether a startup can be successful. While the product demand is market-driven, various criteria can be used to compare the business environment internationally. The Ease of Doing Business Index (EODB) by the World Bank Group compares countries according to criteria related to different market entries and company operations. Singapore, Malaysia, and Thailand lead the EODB ranking within Southeast Asia. Related to the EODB ranking, the time required to start a business in the Asia-Pacific region can range from as little as half a day to half a year, depending on what legal procedures are required to operate a commercial or industrial firm.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Mar 31, 2023

Key insights

Number of unicorns in the APAC region
471
Leading unicorn
ByteDance
Country with the least time required to start a business
New Zealand
Get more insights

Editor’s Picks Current statistics on this topic

Total venture capital funding value in Asia from 2013 to 2022, by startup stage (in billion U.S. dollars)

Investment Funds

Venture funding value Asia 2013-2022, by stage

Number of unicorns in selected countries in the Asia-Pacific region as of 2021

Corporate Financing

Number of unicorns in Asia-Pacific as of 2021, by country

Major tech unicorns in Southeast Asia in 2021, by funds raised (in million U.S. dollars)

Business Enterprise

Major tech unicorns SEA 2021, by funds raised

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Overview

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Leading cities

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Leading cities

Leading companies by industry

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Leading companies by industry

Leading companies by country

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Leading companies by country

Entrepreneurial activity

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Entrepreneurial activity

Further reportsGet the best reports to understand your industry

Startups in South Korea
Startups in South Korea
Startup funding in India
Startup funding in India
Startups in Taiwan
Startups in Taiwan
Tech startups in Vietnam
Tech startups in Vietnam
Startups and venture capital in Singapore
Startups and venture capital in Singapore
Startups in the Philippines
Startups in the Philippines
Startups and venture capital in Thailand
Startups and venture capital in Thailand

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