2025-2026 EDITION
“ For example, ASEAN has developed regional frameworks for competition policy, consumer protection, and intellectual property rights. There are also consistent efforts to improve connectivity – all of this helps to‘ integrate’ ASEAN into a single market to some extent,” continues Professor Avvari, whose research interests lie in strategy and innovation.
However, every market still remains distinct in capacity, resources and institutional history, requiring entrepreneurs to adopt a multi-layered approach in building for sustainability.
In a world transformed by AI, entrepreneurship may hold the key to job creation, economic growth and regional stability.
Today’ s startups look to the success of super apps such as Grab and Shopee, digital platforms that have managed to successfully navigate the tumultuous journey from an enthusiastic idea to a profitable, established corporation.
“ Founded in 2012 as a Malaysian ride-hailing app, MyTeksi, Grab is now based in Singapore and operates in over eight ASEAN countries. One of its key strategies is to adopt a localised approach with services customised to each market, with local partners onboarded,” Dr Loy says.
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Grab also works closely with local governments |
Dr Daniel Loy and Professor Avvari V. Mohan |
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to ensure that their services are legally compliant, which |
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helps build trust with end users. Learning from those who |
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have made it, Dr Loy advises, will help young entrepreneurs |
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avoid potential bumps, neutralise certain risks and improve |
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chances of success. |
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The startup ecosystem is fast-moving and in many ways, unpredictable. Professor Avvari opines that universities and in particular, business schools, play a critical role in ensuring the future of entrepreneurship.
“ As nations grapple with digital technology replacing routine jobs, entrepreneurship is being seen as a path to the creation of new businesses and jobs. It can also lead to diversification of industries which would reduce the impact of job losses,” he says.
If entrepreneurship is the future, youths of today need to recognise its career potential and be given every opportunity to succeed.
In light of this knowledge, nations need to turn their attention to fostering a generation of explorers – bright minds with the passion, courage, and confidence to build a career in entrepreneurship and innovation.
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Startup builders and alumni mentors at Monash Startup Bootcamp 2024