100 To Watch: Asia-Pacific’s small companies and startups on the rise

Forbes Asia’s 2025 list highlights the growing presence of small companies and startups in the Asia-Pacific region. Leading the list with 18 companies is India, closely followed by Singapore and Japan with 14 each, China with 9, Indonesia and South Korea with 8 each, and Australia with 7. This annual compilation offers insights into the dynamic ecosystem of emerging businesses in the region, with a particular emphasis on AI and deeptech innovations.
The recent KPMG report indicates a positive trend in VC funding in the region, with countries like India, Japan, and Singapore attracting more risk capital. The 100 to Watch list mirrors this trend, representing a total of 16 countries and territories. The sectors drawing investor interest include biotechnology, spacetech, and green tech, with companies focusing on areas like gene-editing therapies, battery technology, and spacecraft propulsion systems. The list categorizes these companies into 10 industry sectors, with biotechnology and healthcare leading with 18 companies, followed by enterprise technology and robotics with 16.
Together, the 100 companies on the list have collectively raised nearly $3 billion in funding, indicating a strong investor appetite for innovative businesses in the region. To view the complete list, visit forbes.com/100towatch. Edited by Rana Wehbe Watson, with contributions from assistant editors Catherine Wang and Yue Wang, and research by Jonathan Burgos, John Kang, Yessar Rosendar, Ian Sayson, James Simms, Jennifer Wells, and Ardian Wibisono.