Southeast Asia also enjoys strong government backing for entrepreneurship, backed by a rising, affluent, middle class, said Scott Russell, president for Asia Pacific Japan at German software provider SAP, whose SAP.iO Foundry fund based in Singapore is in the process of accelerating seven early-stage startups. “We see innovative and ambitious startups developing across the region,” said Russell. “This is driving deal flow and overall interest from venture capitalists to invest.”
Asia set to eclipse US as world’s venture capital powerhouse
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