Are you Asia Ready?

Why expand to Asia Pacific??

The centre of economic gravity is steadily shifting eastwards, and the speed of technological adoption – significantly boosted by the global pandemic – is currently nothing short of breathtaking. This translates into highly attractive opportunities for western enterprises who can complement APAC’s innovation ecosystems with their own solutions. No ambitious startup looking to scale and gain global reach, can afford to ignore what the region offers.?

?The region is right and ready for ambitious Western scaleups. But are these scaleups ready for Asia? That depends on where you are on your journey as an enterprise, and where your mind is as an entrepreneur. Timing is (almost) everything. You are Asia Ready if you have reached key operational milestones (revenue, funding, international experience, scalable and repeatable processes). A European company that is gaining momentum in the US is at the right moment to think about Asia Pacific expansion (effectively completing its global footprint). But might not have the bandwidth, leadership headspace, or blessing from investors to set up operations on the other side of the globe at the same time. What does it do? Lose the first mover advantage for its solutions in the East, or risk taking its eye off the ball in the US just when it is looking to rapidly scale??

The right mindset is as important as the right moment for making this move. You are Asia Ready if you are willing to do things differently, learn, adapt, and experiment. To leave Western cultural perspectives behind at the door with your shoes. There might be an opportunity or need to re-invent your offer for the new market, where it presents a blank canvas for your brand. And be prepared to learn new things about your own company, by watching it thrive in this new market. The journey to Asia can prove a decisive turning point in a scaleup’s success story.??

The milestones and mindset essential for expansion to Asia Pacific, are the focus of the first episode in Asia Next, a new series of articles by FastTrack. Distilling nearly twenty years’ experience scaling up companies in Asia Pacific, Asia Next has been compiled with insights from experienced insiders and entrepreneurs who have made this move, and who share their unique perspectives on what it demands.?

You can read “Are you Asia Ready”, by FastTrack founders Alex Olmedo and Ivan Bernard-Brunel here.?