The rise of the Asian entrepreneur

Entrepreneurial culture in the East is completely following the Western approach. Although a few people still stick to their family businesses, the indications of youth migrating to other places for better opportunities are growing rapidly. Many young professionals and entrepreneurs are looking beyond their hometowns and even their countries, aiming to establish careers in global markets rather than staying confined to traditional business setups.

Tej Kohli, a London-based technology investor, philanthropist, and billionaire, speaks up on this shift—

“There are almost 4.5bn people in Asia, so generalizations are dangerous, but advancements in technology and access to information, as a result, have changed things dramatically,” says Tej Kohli.

Clearly, he is stating that the majority of the new generation masses are now far more aware of alternative opportunities available to them. With the rise of digital access, remote work culture, and global investment, they no longer feel obligated to continue family businesses or settle for local job prospects. Instead, they explore international job markets, startup ecosystems, and even business-friendly nations where they believe their potential can be better realized.

The influence of the West is undeniable. For years, Silicon Valley, London, and Berlin have served as global centers of entrepreneurship, offering funding, mentorship, and a risk-taking culture that many Asian entrepreneurs find appealing. Many young professionals from Asia aspire to launch their startups in Western markets due to the availability of capital, infrastructure, and a startup-friendly regulatory environment.

Academics are still debating whether this shift in mindset is a natural progression or a worrying trend that could harm local economies. While it is true that Western markets provide better opportunities for scaling businesses, it is also important to strengthen entrepreneurship within Asian countries so that they don’t lose their best talent to migration.

The reality is that the West continues to lead in producing high-growth startups, while the East is still trying to catch up. The increasing number of incubators, funding programs, and government initiatives across India, China, and Southeast Asia is a promising step in the right direction, but there are still significant barriers to overcome.

Challenges Hindering Startup Growth in Asia

Despite the potential of Asian economies, several obstacles prevent startups from thriving in the region:

Limited Access to Capital – Unlike Silicon Valley or London, where investors are actively funding startups, many Asian entrepreneurs struggle to secure venture capital or angel investments.

Risk-Averse Culture – A fear of failure is deeply ingrained in many Asian societies. Unlike in the West, where failure is often seen as part of the learning process, failing in business can carry social and financial consequences.

Regulatory and Bureaucratic Barriers – Many Asian countries have complex business laws, tax policies, and bureaucratic hurdles that make it difficult for startups to operate efficiently.

The Appeal of Foreign Markets – Many talented individuals find it easier to secure better-paying jobs abroad rather than struggling to establish a business in their home countries.

Why Staying and Building Local Startups Can Be Rewarding

Despite these challenges, launching a startup locally can lead to significant rewards. Tej Kohli believes that developing strong homegrown businesses can help local economies grow, create jobs, and attract international investors.

One prime example is Jack Ma, the founder of Alibaba, who started his business in China despite many obstacles. Today, Alibaba is one of the world’s largest tech companies, and Jack Ma’s success has inspired millions of young entrepreneurs. His story proves that with determination and the right ecosystem, startups in Asia can compete on a global scale.

Additionally, governments are beginning to recognize the importance of supporting entrepreneurs. Many countries in Asia are now introducing startup incubators, tax incentives, and innovation hubs to encourage entrepreneurship and prevent talent migration. Cities like Bangalore, Shenzhen, and Singapore are emerging as new tech hubs, proving that Asian countries are starting to catch up.

While many young professionals may feel tempted to move abroad in search of better opportunities, it is not always necessary to do so. The startup ecosystem in Asia is evolving, and entrepreneurs who take risks and push boundaries have the potential to build global businesses right in their home countries.

For this to happen, there must be a joint effort from governments, investors, and business leaders to create a supportive entrepreneurial culture. If funding barriers are removed, risk-taking is encouraged, and regulatory policies become more business-friendly, there is no reason why Asian startups cannot rival their Western counterparts.

The West may have led the entrepreneurial world for decades, but the East now has the opportunity to establish its own success story—one that is driven by innovation, resilience, and strategic growth.