Despite all that talk about the bubble and gloomy economic conditions, venture capital funding in Asia has doubled in Q1 2016 compared to the same period in 2015, the Tech In Asia reports.
While the overall Chinese economy is going through a hard time, the data shows Chinese VC funding has seen incredible growth in the first quarter of 2016.
Southeast Asia shows similar trends and has also seen massive growth in funding, amounting to about 2.5 times than that of Q1, 2015. This is shows a massive confidence from investors in the growing startup ecosystem of Asia.
Biotech: Industry with the special attention from VCs
Biotech startups have also seen a steep climb in funding, firms like Singapore’s Aslan Pharmaceuticals raising 34 million at their Series C round and Hong Kong’s Prentices raised $10 million in their Series A round.
Even though the number is small compared to international deals, this field shows promise as the global biotech industry is set to rise in light of the rising global demands. Emerging markets like China and India leads in sales of biotech products and services as of 2015.
This tells an interesting story and gives hope that future for Asian startups is only going to be better.
Source: Tech in Asia data