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They also benefit from the area's strong talent pool.
In universities, too, the UK is quietly building a strong talent pool for the tech industry.
For example, Deloitte expanded its Harare office into a central Africa hub due to the strong talent pool.
Both countries are still grappling with the demands of the booming tech sector and are still lagging behind the US in nurturing a strong talent pool.
One reason SparkLabs decided to launch the fund now, five years after its Seoul accelerator's first batch, is because its partners noticed that the number of Korean startups were growing and hiring from an increasingly strong talent pool.
As the 70-million-strong millennial cohort hits the workforce, savvy employers who want to tap into their strong talent pool should take note of the attraction of non-monetary motivators, especially among Y women.
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There was a substantial talent pool.
"Jim's passionate and contagious persona... attracts help from some of [the] strongest talent pools," says Nicole Provensal, head of corporate sponsorship for Angels Baseball in Anaheim, CA. Provensal volunteers with DonateGames, helping out with marketing and social media.
There are three main areas where the UK has a competitive edge over other big markets: a large corporate presence, a strong local talent pool, and favorable visas for entrepreneurs.
The Home Office recently commended Opportunities 4 Women for providing events that offer long-term solutions to gender issues in the workplace, improving staff retention and building a strong and diverse talent pool.
Each local economy is as strong as the talent pool it supports.
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