01-Feb-18, Technode
Asia’s e-commerce industry is thriving and the outlook seems even brighter: the industry is projected to grow by 12% annually, and to be worth over USD2.1 trillion by 2021.
%20Technode.jpg "Alibabas Taiwan Entrepreneurs Fund backs e commerce start ups (c) Technode")
Image: Technode
There are many explanations for why Asian markets have been attracting hordes of overseas entrepreneurs - enormous market potentials, growing purchasing power, and expanding middle-class populations.
"Everyone is interested in selling in Asia, but that hurdle and barrier is quite high," said Eric Wang, CEO of citiesocial, an e-commerce platform that focuses on high-quality home, electronics, and fashion accessories. The Taipei-based startup recently announced a USD2.75 mn investment led by Alibaba Taiwan Entrepreneurs Fund — a TWD10 bn (USD342 mn) fund to support young startups in Taiwan.