South-east Asia startup ecosystem 'still has runway'

Singapore

SOUTH-east Asia's fast-growing startup ecosystem still has legs, although the opportunities are shifting and are distinct from those in Silicon Valley in the United States, speakers at the Echelon Asia Summit 2019 said on Thursday.

Nicko Widjaja, chief executive of MDI Ventures, said that despite the dominance of large unicorns in the region, there is generally still an abundance of funding for startups in the region. "Right now, however, the competition might be around Grab, Gojek and Tokopedia, but I don't think the ecosystem is in a rut.