Richmond Publishes Guide to 2016 Global and Regional Startup Trends

Richmond Corporate Advisory Pte. Ltd. (www.rbcrca.com.sg) published a guide on the global and regional startup industry trends entrepreneurs must take into consideration in formulating strategies for 2016.

The entrepreneurial revolution is taking over every corner of world with a visible spike in startups activities across continents and even in third-world countries. In its recently published article titled ‘A Look into Regional and Global Startup Trends’, Richmond Corporate Advisory Pte. Ltd. (www.rbcrca.com.sg), leading Singapore company incorporation service provider, explores the current trends that startups are adopting.

The analysis focuses on the predictions for global and regional industries as well as the outlook for Singapore’s startup ecosystem. The company registration specialist says: “Entrepreneurs can look forward to a lot of adapting and innovating. Keeping up with these changes is instrumental for startups to engineer their next steps, develop new strategies and remain competitive.

On a global scale, the wearable technology industry will see a significant growth as consumers embrace wearable devices. In the United States alone, an estimated 39.5 million users who are aged 18 years and above used smartwatches like Pebble, activity trackers like Fitbit, and other wearable technology in 2015. This year, eMarketer predicts that wearable technology usage will increase sixty percent.

With more individuals integrating technology in their household, information breach can be a cause for concern. More consumers will need privacy protection services. A potential challenge for emerging startups tapping this need will be handling all clients’ important information without being compromised by other entities.

Other technology trends for startups worldwide based on CIO’s predictions include voice-based OSes and Internet of Things (IoT) devices, counterterrorism technologies, cyber security services, financial technology, digital health, digital manufacturing, autonomous cars, and space exploration.

Asian startups forging ahead

The markets in Asia are growing faster than the rest of the world and the startup ecosystem in the region continues to flourish. Tech in Asia estimated that startups in Southeast Asia received US$1.61 billion in funding from various angel investors and venture capitalists in 2015. This was a 43% spike from the total startup funding in 2014.

E-commerce has shifted the selling and purchasing behavior of consumers all over the world. In the midst of global e-commerce businesses, local startups in Asia are also thriving including Taobao in China, Flipkart in India, Rakuten in Japan, and Lazada operating in Southeast Asia.

Analysts foresee e-commerce startups offering both improved and new features to its consumers including price comparison, cash-back sites, coupon sites and affiliate marketing solutions. A more efficient and in-house delivery fleet for e-commerce giants in the region is also foreseen to ease industry-wide capacity issues and capture the anticipated record-breaking transaction volume.

Vibrant Singapore startup scene

When asked about the state of Singapore ecosystem, Richmond commented: “The ease of registering a company in Singapore is one of the many reasons why many local and global startups set up shop in the city-state.” The startup scene in Singapore ranked 10th in Compass’ 2015 Global Startup Ecosystem Ranking report.

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