Southeast Asia has been touted as the next new frontier for startups looking to expand internationally. In case you have some reservations, here are some articles that could help guide your decision to grow your business in Southeast Asia.
Southeast Asia’s accelerating internet economy
Google and Temasek (Singapore’s sovereign fund) issued their third “e-Conomy SEA” report, which forecasts that the region’s digital economy will triple in size and reach US$240 billion over the next 7 years (2025). This is an increase from the US$200 billion predicted in earlier reports, as they observe that the region is taking much less time to get there, having already achieved a third of the target with 8 years to go.
Here is TechCrunch’s summary of the report: https://techcrunch.com/2018/11/18/google-report-southeast-asias-digital-economy-to-triple-to-240-billion-by-2025/
Accessing Southeast Asia from Singapore
Have no idea where in Southeast Asia to call your home base? German Accelerator has set up its Southeast Asia office in Singapore, and these are just some reasons why:
Reaching the next billion internet users in Southeast Asia via Singapore: https://www.edb.gov.sg/en/news-and-resources/insights/innovation/reaching-the-next-billion-internet-users-in-southeast-asia.html
5 Reasons Why The World’s Tech Firms Are Moving To Singapore: https://www.forbes.com/sites/alexcapri/2018/09/21/5-reasons-why-the-worlds-tech-firms-are-moving-to-singapore/#4ea2a3422aa0
Planning your next steps
These two articles share best practices when considering expansion into a new region such as Southeast Asia:
A Guide To Southeast Asia’s Thriving Startup Ecosystem: https://www.forbes.com/sites/jonathanmoed/2018/07/12/a-guide-to-southeast-asias-thriving-startup-ecosystem-heres-what-you-need-to-know/#583cd0376e18
Best Practices for Breaking into A New Overseas Market: https://www.enterprisesg.gov.sg/blog/ppn/best-practices-for-breaking-into-a-new-overseas-market
Want to check out the competition?
Look into Tech in Asia’s list of 50 startups and tech companies in Southeast Asia who have raised the most money from investors, and read about stories of six promising global startups that have set their sights on using Singapore as a springboard into the Asia-Pacific region.
Happy reading!
