To enter to the Asean market, the company can take part in the Startup Competition in ASEAN with these following facts:
🌏 Why ASEAN is a Hotspot for Startups:
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A young, tech-savvy population (over 600M people)
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Rapid digital adoption and mobile-first economies
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Rising middle class and increasing consumer demand
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Government-backed innovation programs (e.g. Singapore’s Startup SG, Thailand’s Startup Thailand, Vietnam’s National Innovation Center)
📈 Trends in ASEAN Startup Competition:
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Cross-border accelerators (Plug and Play, Antler, Gobi Partners, 500 Global)
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Tech-focused competitions in AI, Fintech, Healthtech, Agritech
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Government-hosted pitch contests (e.g. SLINGSHOT Singapore, Techsauce Global Summit Thailand, TECHFEST Vietnam)
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Rise of unicorn hunting through public-private VC matching programs (e.g. K-Unicorn, Sunicorn, Malaysia’s Cradle Fund)
🧠 What Startups Compete For:
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Equity-free grants
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Access to incubation or soft-landing programs
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Strategic partnerships with corporates & governments
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Exposure to regional and global VCs
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Entry points to markets like Vietnam, Indonesia, and the Philippines
🧩 Challenges Faced:
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Uneven access to capital outside Singapore and Jakarta
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Talent shortages in deep tech and international scale-up experience
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Regulatory gaps and inconsistency across borders
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Language and cultural barriers in early-stage collaboration