Central Asia good expansion option for Singapore startups

WHEN Singapore startups are looking to expand overseas, the go-to destination has always been its backyard in South-east Asia. But in an increasingly competitive and mature market, where the fight for top tech talent is intense, this reflex strategy requires a rethink.

Fast-maturing Hanoi and Jakarta have seen startups grow at a rapid pace, and have attracted significant venture capital funding. There is not a lot of room left to play for latecomers.

At the other spectrum are Cambodia and Laos, which looked ready for Singapore startups to explore and expand. But VCs' experiences reflect markets which are still at an early stage of building their startup ecosystems, and not quite ready for significant venture capital investments.