Southeast Asia is brimming with action. And I am not the only one saying it. The recently launched Asia Partners Report 2019 has made some positive comments on how and why this region looks promising. Their first publication on the development of the technology sector in Southeast Asia the analysis benchmarks Southeast Asia against other markets.
I studied the report in detail to draw out some of the highlights as a credible roadmap for advancement in the technology sector in Southeast Asia.
- Southeast Asia is entering a “golden age of rising affluence” fueled by large tech company formations in China, Korea, and Japan in the past
- Its’ opportunities and complexity creates “a true home-court advantage” for local platforms
- The report predicted 20+ more billion-dollar value tech companies from Southeast Asia by 2029 and 20 companies will pursue IPOs over the next decade
- 70% win for regional tech startups
- In addition to the rise in Series A/B ecosystem has strengthened, there is an acute Series C/D gap in the market for $20-100 million checks making Southeast Asia is ready for growth equity
Why SEA and why now?
The report quotes various World Bank statistics and said that Southeast Asia has relatively fared better than others during the recession and the growing population and youth will lend a major boom to consumerism and economic growth on the whole.
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As the region is hungry and able to grow governments are also tuning in with favorable policies and governance to stimulate the environment. Especially with large nations like Indonesia, Vietnam, and the Philippines that are mirroring China in governance.
Second to Europe and booming faster than the latter in this decade, SEA is a unique mix of highly populated countries. And the report suggests the success of the region lies in their diverse population but united business and tech.
With a higher number of smartphone and technology users, there is a strong growth opportunity in the region. With a better Series C/D in the ecosystem, some of the single players can be accelerated for growth as a multiregional organisation ushering a new era of unicorns and IPOs suggested the report.
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