Asians Shun American Dream for a Break Back Home: "Experts said easy access to capital and low regulation and taxes in some Asian countries such as Hong Kong and Singapore means there's not too much difference to setting up a new business in Asia compared with the U.S.
"Hong Kong is one of the easiest places in the world to do business because of low taxes and the ease of labor laws," said City Super's Woo. "I think it's something similar to Singapore – you can set up a business in one week's time."
Easy access to capital in Asia means the region's entrepreneurs don't necessarily have to take their ideas to Silicon Valley or other innovation hubs outside the region, analysts said.
Since 2005, the number of startups in Asia has risen sharply with at least 8,000 backed by venture capital, according to Rebecca Fannin, author of the books Silicon Dragon and Startup Asia.
"The entrepreneur revolution is spreading throughout Asia, even to places like Hong Kong that have not traditionally been startup hubs," she told CNBC.
(Read More: Can a Pawn Shop Turn Around Hong Kong's IPO Market?)
China is the second-largest venture capital market in the world, followed by India, while China ranks fourth in the world for new patent applications, up from 10th place in 2005, an example of innovation taking hold, according to Fannin.
Asian entrepreneurs educated or trained in the West have a distinct advantage over peers who are not, said experts.
"To start up a new business you need finances. For those people who have worked on Wall Street or in Silicon Valley, it helps them create a business model that might appeal to Western investors," said Ringo Choi, strategic growth markets APAC leader at Ernst &Young.
Take a Chance
Even with Asia's rapid economic growth, the U.S. has traditionally been a strong location for Asian entrepreneurs to start up a new business and follow the successful examples of Apple's Steve Jobs or Facebook's Mark Zuckerberg.
But tighter immigration laws in the U.S. could be another motivation for those U.S.-educated Asians to follow their ambitions in Asia rather than in Silicon Valley, analysts said.
According to the U.S. Kauffman Foundation, the share of companies founded by immigrants in Silicon Valley slowed to 44 percent between 2006 and 2012 from 52 percent between 1995 and 2005, suggesting some reverse flow of talent from the U.S. may be taking place.
"The U.S. is very entrepreneurial and it is a great place to have your own business and of course working in the financial industry gives you a lot of opportunities as an entrepreneur," said Steven Pan, chairman of Regent Hotel who returned home to Taiwan in the 1990s after starting his career as a banker on Wall Street.
(Read More: It's the Best Time to Be an Entrepreneur: Pro)
"If you stay in the U.S. there are a lot of opportunities in the financial industry alone, but in Asia there is a broad range of industries you can go into. I didn't even know about the hotel industry until I came home," said Pan who returned to work for a hotel and then went on to buy out his boss.
But giving up the American Dream to come back is not always easy.
Pan, the winner of the 2012 Ernst & Young entrepreneur of the year award in Taiwan, said he took a 50 percent pay cut when he quit his Wall Street job to return to Asia. "
'via Blog this'
"Hong Kong is one of the easiest places in the world to do business because of low taxes and the ease of labor laws," said City Super's Woo. "I think it's something similar to Singapore – you can set up a business in one week's time."
Easy access to capital in Asia means the region's entrepreneurs don't necessarily have to take their ideas to Silicon Valley or other innovation hubs outside the region, analysts said.
Since 2005, the number of startups in Asia has risen sharply with at least 8,000 backed by venture capital, according to Rebecca Fannin, author of the books Silicon Dragon and Startup Asia.
"The entrepreneur revolution is spreading throughout Asia, even to places like Hong Kong that have not traditionally been startup hubs," she told CNBC.
(Read More: Can a Pawn Shop Turn Around Hong Kong's IPO Market?)
China is the second-largest venture capital market in the world, followed by India, while China ranks fourth in the world for new patent applications, up from 10th place in 2005, an example of innovation taking hold, according to Fannin.
Asian entrepreneurs educated or trained in the West have a distinct advantage over peers who are not, said experts.
"To start up a new business you need finances. For those people who have worked on Wall Street or in Silicon Valley, it helps them create a business model that might appeal to Western investors," said Ringo Choi, strategic growth markets APAC leader at Ernst &Young.
Take a Chance
Even with Asia's rapid economic growth, the U.S. has traditionally been a strong location for Asian entrepreneurs to start up a new business and follow the successful examples of Apple's Steve Jobs or Facebook's Mark Zuckerberg.
But tighter immigration laws in the U.S. could be another motivation for those U.S.-educated Asians to follow their ambitions in Asia rather than in Silicon Valley, analysts said.
According to the U.S. Kauffman Foundation, the share of companies founded by immigrants in Silicon Valley slowed to 44 percent between 2006 and 2012 from 52 percent between 1995 and 2005, suggesting some reverse flow of talent from the U.S. may be taking place.
"The U.S. is very entrepreneurial and it is a great place to have your own business and of course working in the financial industry gives you a lot of opportunities as an entrepreneur," said Steven Pan, chairman of Regent Hotel who returned home to Taiwan in the 1990s after starting his career as a banker on Wall Street.
(Read More: It's the Best Time to Be an Entrepreneur: Pro)
"If you stay in the U.S. there are a lot of opportunities in the financial industry alone, but in Asia there is a broad range of industries you can go into. I didn't even know about the hotel industry until I came home," said Pan who returned to work for a hotel and then went on to buy out his boss.
But giving up the American Dream to come back is not always easy.
Pan, the winner of the 2012 Ernst & Young entrepreneur of the year award in Taiwan, said he took a 50 percent pay cut when he quit his Wall Street job to return to Asia. "
'via Blog this'
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