Silicon Valley is unarguably the Mecca of the tech world, but many entrepreneurs are now recognizing the untapped potential in Southeast Asia and setting up their startup headquarters there.
In its first meetup event organized in Hong Kong, TechinAsia brought together entrepreneurs behind two successful start-ups based in Southeast Asia to discuss the dynamics and development of the start-ups space in this region: Steven Jagger, founder of Payroll Hero and Anthony Tan, CEO, GrabTaxi.
Payroll Hero’s website describes it as a startup that enhances payroll administration with image recognition technologies. Explaining the reason behind the startup germinating in Manila, Jagger said, “We are here because Southeast Asian markets are a huge opportunity: cloud computing is becoming acceptable, the cost of internet and data is coming down. All this is happening right now.”
He further added that since his business model is such that payment for services is made per employee, it helps that the company is located in the Philippines where the employee counts are high.