TLDR:
Investors are expected to return to Southeast Asia’s start-up scene in 2024, but with a focus on safer bets and proven profitability. Singapore leads the region as the most attractive destination for start-ups and venture capital, followed by Indonesia. Malaysia aims to position itself as a regional launch pad for tech start-ups, leveraging its educated population and developed infrastructure.
Article Summary:
After a retreat of billions of dollars from Southeast Asia’s start-ups in 2023 due to global economic challenges, investors are expected to return in 2024. However, they are looking to make safer bets and prioritize profitability. Start-ups focused on e-commerce, fintech, and ride-hailing are dominating the region’s funding rounds. Singapore, home to about 4,000 tech start-ups, remains the most attractive destination for start-ups and venture capital in the region.
In Indonesia, interest in sustainable energy start-ups is increasing as the country looks towards going green. With around 2,300 start-ups and 14 unicorns, including GoTo valued at US$30 billion, Indonesia’s start-up ecosystem is on the rise. Meanwhile, Malaysia is positioning itself as a regional launch pad for tech start-ups, offering a strategic location and developed infrastructure for foreign start-ups to establish their regional operations before venturing into the wider Southeast Asian market.
