Wednesday Scribbles : Rise of the Southeast Asian Entrepreneur

 

Notes from a changing world…
April 26th

Anyone can steal your idea, but no one can steal your execution ”

Nadiem MakarimFounder GoJek, Indonesia

Southeast Asia is enjoying an increase in venture capital investments in its startup ecosystem. While countries like Singapore, South Korea, and Japan still lead the way, governments in Malaysia, Indonesia, Philippines, and Cambodia have been making strides in creating conditions for their own startup ecosystems.
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Malaysian government announced an allocation of RM6.7 billion for SME development to be implemented by the various Ministries and agencies. This boost to the Malaysian entrepreneurial ecosystem has been widely appreciated.
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On the World Index of Economic Freedom (IEF), Philippines got a score of 65.6, higher than the world average of 60.9 and the Asia-Pacific region average of 60.4. Ranking indicates provision of moderate degree of economic freedom to enterprises in the pursuit of greater competitiveness, growth, and prosperity.
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Vietnamese startups saw a 46% rise in investment in 2016, valued at $205 million. They are strong in fintech and are getting global attention. With a 97.5 million population,that is mostly young and tech savvy,  Vietnam is serving as an optimal market for foreign startups.
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In Cambodia, young entrepreneurs with no memories of Khmer Rouge are bursting onto the country’s business scene and showing the way for sustainable economic growth.
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Less than 60% of SMEs in the Malaysia, Philippines, Singapore, Thailand and Indonesia have access to bank loans and approximately half of the SMEs are unserved or underserved by financial institutions. Read more…
Two local banks, DBS Bank and United Overseas Bank (UOB), extend their reach to smaller companies through tie-ups with fintechs, pushing ahead of their peers in using new technology to target the small and medium-sized enterprise (SME) segment.
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SME sentiment in Hong Kong remained weak entering 2017. The Standard Chartered Hong Kong SME Leading Business Index (SME Index), fell to 41.9 in Q1-2017 from 42.5 in Q4-2016 (50 = neutral).
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The Indonesian Financial Services Authority (OJK) has just released a regulation on financial technology (fintech) lending, which stipulates rules in the provision of lending services based on information technology.
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Small and medium enterprise (SME) development in ASEAN is a key strategy, focusing on supporting SME access to finance, markets and global opportunities, human resources development, information and advisory services, technology and innovation.
Indonesia’s 14 Pillar comparison on Global Entrepreneurship Index
(Disclaimer: All information quoted here is linked to the respective source articles)
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