MONASH BUSINESS MALAYSIA
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I n the startup and entrepreneurship race, ASEAN is in the fast lane. With digital innovation, supportive policies, success stories and a dynamic ecosystem built for scalability, aspiring entrepreneurs and innovators are flocking in.
Dr Daniel Loy, a senior lecturer at the Monash School of Business and Program Director of the Monash Entrepreneurship and Innovation Hub( EIHUB), notes the significant growth in entrepreneurship in the region, attributing it to the startup-friendly climate and positive ground sentiment across all sectors.
“ With increasing Internet penetration and a relatively young population of digital natives, ASEAN’ s economic outlook is promising for entrepreneurs, particularly those in the tech and digital space.”
DR DANIEL LOY
It’ s not difficult to believe. ASEAN member states represent around 600 million people and are home to some of the world’ s fastest-growing economies.
For startups, a reassuring indicator is the enthusiasm of ASEAN governments in springboarding the region as a global player. The Startup ASEAN platform was launched in December 2024 through a task force represented by all ten member states. Chaired by Malaysia, Startup ASEAN supports 11,000 startups in the region with an ecosystem value of USD131.2 billion.
Monash School of Business Deputy Head of School( Engagement and Impact) Professor Avvari V. Mohan says that a unique feature of ASEAN is that its markets, while diverse, share institutional similarities designed to facilitate seamless movement between nations.