China's Road to World Tech Domination Begins in Southeast Asia
- Alibaba, Tencent and Didi see the region as a starting point
- Deals are rising as the largest players chase virgin territory
China's Tech Giants Look to Southeast Asia
Isaac Ho and several investors were watching a pitch from a cancer-detection startup in Singapore when one of the Chinese billionaires present got up and -- without a word -- scrawled “Speed x Market Share” in Chinese characters on a whiteboard. It was a simple formula that meant: be first and be largest, no matter the cost. But that’s when Ho understood how the Southeast Asian tech scene was about to change.
“It was the moment that I understood the Chinese strategy,” said the founder of Venturecraft Group who’s known in local medtech circles for whiskey-fueled networking parties. “If you are not the No. 1, you will become obsolete; if you are the No. 1, you can buy the newer technology. It’s a winner-takes-it-all game.’’