The location of your future business has a great impact on its success.
There are a number of things you should take into consideration when choosing a perfect location to set up your venture.
You would want to opt for innovative and entrepreneurial hubs with transparent business practices, a good connection to the world and well-developed infrastructure as well as a legal framework and an access to markets.
Does this sound like a place you’ve been looking for?
Asia Pacific: an economic powerhouse
If you’ve been doing research on where to start or expand your business, you must have noticed the significant number of opportunities the Asia Pacific region has to offer.
In the last years, Asia has experienced enormous economic growth and attracted a number of foreign investors offering a favorable environment to relocate and set up a venture.
Here are more highlights of doing business in Asia:
- Being home to almost 60% of the world population makes Asia a huge consumer market.
- A startup hub: last year, investors poured more than $90B into nearly 5,800 deals to tech startups based in the Asia Pacific region.
- Asia’s startup scene has plenty to offer for the founders. Attend the major events such as RISE, Asia Tech, Cybertech, TOKEN2049, WILD DIGITAL, Tech in Asia, Techsauce, Echelon and many more happening in your neighborhood!
- The corporate tax rates in Asia are lower compared to a number of Western economies.
- The Asia Pacific is a technologically advanced region that invests in innovation. Last year, Chinese AI startups attracted more funding than U.S. startups.
- Asian countries have their own traditions but they are business-friendly and welcoming to foreign entrepreneurs.
🎌 Japan: #1 place in the world to start a business in 2022
Japan is the third-largest and one of the most developed economies in the world and is ranked among the top 30 economies in terms of ease of doing business. It’s also a politically stable country ranked 1.04 points in 2020, compared to the world average of -0.07 points.
The cost of starting a business in Japan is reasonable. The average value for Japan is 7.5% of income per capita GNI while the world average in 2019 based on 186 countries is 19.78% of per capita GNI. Its highly developed infrastructure of roads, airports, railroads and harbors makes it easy to trade with the world.
This innovative country was ranked 54.5 points in 2021 which is above the world average of 34.30 points. Does it sound like a perfect place for your venture?
🌸 Hanami season, Kourijima, Umi Budo and more reasons to fall in love with Okinawa
Considered as an innovation hub, Okinawa attracts tech entrepreneurs offering various advantages of starting a venture on this idyllic island. With a very low crime rate, Okinawa is the place where people live the longest, happiest lives. Here are the reasons why people love Okinawa.
Okinawa is surrounded by a number of small, remote and easily accessible islands perfect for a day getaway. For example, Kourijima is located only 1km away from Okinawa’s main island. Crossing Kouri Bridge, one of the most spectacular bridges, is an experience to remember, crowned with the crystal clear water, white sand and the tranquility of the island. Whenever you feel like unwinding after a productive day at work, the region has plenty to discover.
🍜 Hungry for more? See other typical Okinawa delicacies here.
Are you a foodie? On top of traditional Japanese cuisine, Okinawa offers its rich food culture and traditional delicacies. Umi Budo (Sea Grape), Goya Champuru (Bitter Melon Stir Fry), Okinawa’s ramen Okinawa Soba and other unique foods will enrich your culinary experience.
If you associate Japan with cherry blossom trees, Okinawa is the first to begin the Hanami season in Japan! Which of the must-see cherry blossom places in Okinawa will you visit first?
This is just a handful of reasons to fall in love with Okinawa. So now that you know that you want to live here, you probably wonder if the business environment is as pleasant as the region itself.
What does it take to start a business in Okinawa?
Okinawa is investing heavily into becoming Asia’s innovation hub by offering support to entrepreneurs willing to make a significant impact in Japan and the world.
The CEO of EF Polymer, an Okinawa-based startup, Narayan Lal Gurjar describes his experience of building a business in Japan:
Japan is a great country. Speaking of technology and innovation, all eyes are on Japan. Building a tech startup here gives us credibility and enhances our visibility in the global market. Japanese people are nice and kind, similar to India. We are grateful for all the support we’ve received so far from the local people.
If you are a tech entrepreneur looking for funding and resources to set up your venture, you cannot miss this opportunity:
Innovation Square Startup Accelerator Program powered by the Okinawa Institute of Science and Technology
Supported by the world-class Okinawa Institute of Science and Technology (OIST) offering startups access to the university’s state-of-the-art research facilities and equipment, connections to global technical business, and investor networks as well as training and mentorship, the accelerator program helps entrepreneurs build their next great venture.
This unique, university in-residency program gives your science-based startup the time and specialized resources needed to move your technology from lab to market.
Once you get selected, you will receive up to 10 million JPY, resources and services your venture needs to thrive and all-expenses-paid relocation to Japan for an intensive 9-12 month program.
We asked Eli Lyons, the founder of GenomeMiner, about his experience with the Innovation Square Startup Accelerator Program:
“I heard about OIST a few times before applying to the program. Always positive things. So I was curious to see for myself. I was attracted by the international environment that I understood was quite different from other places in Japan.
The staff (both international and Japanese) went out of their way to help me figure out how to accomplish my goals and take productive steps for business development and fundraising, that’s one of the major aspects that makes the program here special.
We were able to do some fairly advanced lab-work to prove our technology. We identified some candidate compounds and microbe strains for commercialization.
It was also very helpful to talk to some of the Principle Investigators and scientists here, who could provide some guidance and share expertise. Of course, that kind of help is not guaranteed, but the possibility of those conversations happening is increased by being part of the program.
Finally, investors are regularly stopping by OIST, so it’s easy to meet with them.”
Don’t miss your chance to get selected for the Innovation Square Startup Accelerator Program and receive equity-free funding, coaching and access to corporate partners based in Japan. Apply now! Deadline: February 4, 2022, 11:59pm JST.