Technology is the driving force behind every activity that you are engaged in your day to day life. The way food is cooked, drinking water is purified, vehicles are run, work is done in offices and factories, the medicine is manufactured, you keep in touch with others everything has gone a tremendous transformation aided and abated by it.
These innovative ideas need support in terms of financing to mature and get established as a useful one. All the innovations that we see today have got support from curious financers, or government or private institutions. Some have also financed their innovations out of their own pocket and saw their ideas blooming into full scale know-how service.
Technology financing
At this juncture the world is facing a multitude of problems that include exploding population, climate change, food shortage, unemployment etc. Solution to many of these problems can be found through appropriate scientific and technological innovations. However, such innovations are costly to bring to fruition. They need financing until the technology or the firm is matured enough to take care of itself; Technology Financing Asia Pacific has a big part to play until that.
The Asia Pacific scenario
The Asia Pacific region is the cynosure of all eyes owing to the potential of the region in view of expanding market owing to a large population of young people, increasing income level, massive opportunity for growth, expertise and spirit of entrepreneurship. The region is brimming with people having entrepreneurial mindset, but there is a real lack of funds to start a business. The area also boasts of scores of young men and women who are motivated and educated in latest technologies including ICT. The combination of expertise, education and entrepreneurship mindset is the right cocktail for growth of businesses that rely heavily on technology such as software, hardware, biotechnology and other sunshine sectors. The scope of investing in science, technology and innovation in this region is vast.
Budget is the constraint
Technology dependent business models need huge investments until the product or service comes to the market and gets established. Such huge budget is unlikely to be borne by individual innovators or investors. This demands financing, and this need for financing has given rise to a number of financing firms. Foreign financing firms have also smelt an opportunity to make it big in this region and are opening offices here.
Qualities of good technology financing firms
A good financing service should have highly experienced and expert advisors who are able to latch on to any prospective idea presented to it. They must have knowledge of and experience in every domain where the expertise can play a prominent part.
These people should also guide the prospective entrepreneur regarding financing of the project from start without facing any financial crisis.
They should understand the needs of the customer even beyond the initial funding and guide him or her accordingly. This is because your business needs may change over time which you are not able to guess right now.
