In 2013, we made a promise: Every entrepreneur deserves a fair chance to be successful. Back then, Southeast Asia’s tech ecosystem was in its infancy. The region was full of potential, but the path to startup success was opaque and uncertain. There wasn’t even a clear venture ecosystem. Founders couldn’t be certain they’d be able to raise later-stage funding. The likelihood of startups succeeding felt hazy at best.

So we built e27 with a simple belief: access to capital, information, and connections shouldn’t be limited to those with privilege or the right networks. We wanted to create a platform where any entrepreneur, regardless of background, could find the tools, resources, and connections they needed to build and grow their companies.

In those early days, getting individuals to leave the comfort of their corporate jobs to venture into building companies was itself a challenge. The entrepreneur was the driving force for building a healthy ecosystem. Much of the work we did focused on encouraging people to take that leap, to bet on themselves, to build the future they envisioned.

For eleven years, that vision served us well. And it should have, as it reflected the reality of the ecosystem we were building in.

The ecosystem grew up, so did we

Fast forward to 2024, and Southeast Asia’s tech landscape is barely recognisable from what it was in 2013. The ecosystem has grown and matured significantly. It’s become more saturated, more sophisticated, more complex. We’ve weathered COVID-19 together. We survived the tech crash of 2022. We’ve navigated inflation, geopolitical shifts, and a fundamental recalibration of what sustainable growth actually means.

The crash of 2022 was particularly revealing. It exposed flaws in how funding had been flowing and which companies were receiving capital. It shifted the conversation back to fundamentals: profitability, sustainable growth, building real value rather than chasing valuation at any cost.

The ecosystem needed a new sense of direction. And so did we.

During our annual retreat this year, we have them regularly, nothing particularly special about this one, we found ourselves in a series of conversations that gradually revealed something we’d been feeling but hadn’t quite articulated: we had outgrown our own vision and mission.

There was no single “aha” moment. No dramatic revelation. Just a growing realisation as we discussed the work we’d been doing over the past few years. When we looked at our 2013 vision and mission statements, they felt… incomplete. A bit boring, even. Too narrow for the scope of work we were now doing.

The truth was simple: our work had evolved far beyond what those statements captured.

The work changed, the players multiplied

Over the past decade, e27 has played a significant role in shaping different aspects of Southeast Asia’s tech ecosystem, aspects that extend far beyond individual entrepreneur empowerment.

We’ve worked closely with governments on programs that affect entrepreneurs and investors. We’ve collaborated with major corporates on how they participate in the tech ecosystem and engage not just with entrepreneurs, but with investors and other stakeholders. We’ve built relationships with ecosystem builders across the region. And increasingly, especially with the rise of AI, we’ve started working more closely with SMEs.

The nature of our impact had expanded. We were no longer just focused on founders in isolation; we were connecting and convening the entire ecosystem.

Also Read: How early-stage founders can manage their runway without starving growth

Meanwhile, the ecosystem itself had transformed. Today, there’s no shortage of programs and activities supporting entrepreneurs. Private accelerators, government initiatives, corporate innovation programs, and venture-based support systems are everywhere. Some are excellent, some less so, but the landscape is crowded with opportunities for founders.

What became clear to us is that individual entrepreneur empowerment, while still important, is no longer the primary gap in the ecosystem. The real gap? Unity. Connection. Coordination.

Fragmentation is the enemy of scale

Here’s the uncomfortable truth: Southeast Asia has been, and likely will always be, fragmented to some degree. We’re talking about a region with different languages, regulations, currencies, infrastructure maturity levels, cultural norms, and business practices. This complexity is both our defining characteristic and our greatest challenge.

And in today’s reality, this fragmentation has real consequences.

Companies that want to scale beyond Series A are increasingly expected to be present in multiple markets. Investors want to see regional traction, not just local success. The world’s fastest-growing internet economy and a rising middle class are wonderful macro trends, but they only translate to real value if we can produce sustainable, long-term, globally impactful companies that can compete with the dominant players around the world.

Siloed markets make this exponentially harder.

If Southeast Asia doesn’t unify and if we continue operating as separate, disconnected markets, we risk being overlooked on the global stage. We risk watching as Silicon Valley, China, India, London, and increasingly the Middle East continue to dominate the conversation about innovation and tech leadership.

We risk having a region full of potential that never quite delivers on its promise. But here’s what excites me: we’re already seeing glimpses of what’s possible when Southeast Asia works together.

The Johor-Singapore Special Economic Zone (JS-SEZ) was launched to promote deeper collaboration between Singapore and Malaysia. We’re seeing increased travel routes across the region, improving business connectivity. There are joint infrastructure investments happening, particularly in areas like data centres. Free trade conversations are advancing. Borderless transactions are becoming more common.

These aren’t just policy initiatives; they’re signals of a region beginning to see itself as a unified block rather than a collection of separate countries.

Also Read: Governing your startup: What founders can learn from politics and vice versa

A vision that matches our reality

During our retreat, as we kept circling back to these themes, the path forward became increasingly clear. We didn’t just need to tweak our mission statement. We needed to fundamentally expand how we saw our role in the ecosystem.

The old vision was very entrepreneur-centric: “Every entrepreneur deserves a fair chance to be successful.” It made perfect sense in 2013 when there weren’t many startups or founders, and encouraging entrepreneurship itself was the primary need.

But in 2024, what the ecosystem needs is something bigger. It needs an organisation that actively works to bring all of Southeast Asia together. Most organisations focus on one local market. We’ve always believed that for this region to achieve global standing, it must be united—and we’re uniquely positioned to play that connective role.

So we evolved.

Our new vision: We envision a unified Southeast Asia tech ecosystem that drives collaboration, innovation, and global leadership.

Our new mission: To create platforms that curate information and connect stakeholders, driving the sustainable growth of the Southeast Asia tech ecosystem.

When we landed on these words, it felt refreshing. It felt right. In fact, we found ourselves wondering why we hadn’t articulated this sooner. This isn’t just wordsmithing or corporate rebranding. It’s a fundamental shift in how we understand our purpose.

From empowerment to connection

The shift from “empowering entrepreneurs” to “connecting stakeholders” might seem subtle, but it represents a profound evolution in our thinking. Empowerment assumes a one-directional relationship: we provide tools, and entrepreneurs use them. Connection, however, is multidirectional and generative: we create platforms where investors, founders, corporates, governments, ecosystem builders, and SMEs can all engage with each other, learn from each other, and build together.

The stakeholders we work with haven’t actually changed much. They’re largely the same groups we’ve been engaging since day one. But how we think about bringing them together has fundamentally evolved.

We’re doing this both online and offline.

On the online side, we’re using content and media to be a thought leadership platform that promotes and encourages open sharing and learning across all regions. This includes initiatives like our contributor program, which democratises the ability for anyone in the ecosystem to share their insights and become a thought leader.

On the offline side, we’re running large-scale events like Echelon that physically bring the region together. We’re also collaborating with corporate partners like Meta and others on programs that connect different parts of the ecosystem in meaningful ways.

Every platform we build, every program we run, every connection we facilitate is in service of one goal: making Southeast Asia more unified, more collaborative, more ready to compete on the global stage.

Also Read: How founder misalignment quietly erodes companies in the age of AI

Why this matters now more than ever

The world is watching Southeast Asia.

We have the demographics. We have the growth trajectory. We have the talent. We have problems worth solving and opportunities worth seizing. What we need to prove is that we can work together as a region. That we’re not just a collection of promising individual markets, but a unified ecosystem capable of producing companies that matter globally.

This isn’t about every company needing to be big in Southeast Asia to succeed globally—there will always be outliers who build global businesses without regional dominance. But as a region, if we want the Southeast Asian tech ecosystem to be taken seriously on the global stage, we need to demonstrate that companies can scale regionally and that this region can operate as one cohesive block.

The stakes couldn’t be higher. And the opportunity couldn’t be clearer.

An invitation to build together

I’ve always believed that Southeast Asia, with all its complexity, all its challenges, all its opportunities, is a region where startups can truly grow and flourish. But that belief comes with a responsibility. We can’t build this future alone. e27 can create platforms and convene stakeholders, but the actual unification of Southeast Asia’s tech ecosystem requires all of us, every founder, every investor, every corporate partner, every government official, every ecosystem builder, to see ourselves not just as participants in our local markets, but as architects of a regional powerhouse.

This is our renewed commitment. This is the promise we’re making for the next chapter of e27‘s journey.

We’re no longer just ensuring every entrepreneur has a fair chance. We’re working to ensure that Southeast Asia itself has a fair chance, a chance to show the world what this region is capable of when we work together.

The vision is ambitious. The mission is clear. And the time is now.

Let’s build a unified Southeast Asia that the world can’t ignore.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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WorldFirst, Ant International’s global account service provider, has launched an API-integrated and AI-driven solution tailored to global enterprises It leverages WorldFirst’s unified global account, full-range financial services, and AI capabilities such as smarter treasury management to help streamline global funds distribution, unlock new revenue streams, and strengthen customer relationships.

Scaling global platforms without financial friction

McKinsey research predicts that within six years, digital platforms will facilitate over 30%—about $60 trillion—of global economic activity. Yet as enterprises operate digitally and expand globally, they face critical financial obstacles: inefficient payments, high costs, compliance complexity, and fragmented customer experience—all creating friction that hinders growth.

Built with security and efficiency at its core, the WorldFirst Enterprise Solution delivers a comprehensive suite of financial services accessible via an integrated API solution. It is designed to help global enterprises across e-commerce, the gig economy, SaaS, OTAs and other digital platforms to automate critical financial functions directly within their existing systems. The solution reflects WorldFirst’s strategy to combine global expertise with innovation to deliver future-ready financial rails.

Also read: Ant Group Chairman Eric Jing outlines strategy for inclusive AI, collaboration on tokenised settlement

WorldFirst core capabilities at a glance

Key features of the solution include:

• Broader global connectivity: Tap into 200+ markets through WorldFirst’s multi-currency World Account, with compliance backed by 60+ global licenses.
• Stronger global spend solution: Launch and manage card issuing via World Card, plus mass payouts in 100+ currencies to bank accounts and wallets worldwide.
• Smarter treasury management: Maximise revenue by Leveraging Ant International’s Falcon AI forecast model, with >90% accuracy on liquidity and FX forecasting.
• Faster global money movement: Powering 95% same-day global transfers & real-time settlement in 25 currencies through WorldFirst’s leading bank partnerships.
• Simpler API+AI-native integration: Boost efficiency with a developer-centric AI toolkit for risk management, compliance, and 24/7 global support.

Also read: Ant International debuts iris authentication for smart glasses payments

Platform adoption in action

To overcome critical financial obstacles for its vast network of third-party sellers, a leading global e-commerce platform is leveraging WorldFirst’s Enterprise Solution for a comprehensive financial solution tailored to its ecosystem. This included a multi-currency wallet with automated eKYC/eKYB and global treasury management capabilities for collection, payment, and foreign exchange services.

Through seamless API integrations, the platform significantly improved the seller experience—cutting seller onboarding to under a day, strengthening compliance, and boosting global scalability with WorldFirst’s extensive global coverage.

“Efficient payment and account services are no longer optional—they are fundamental to how platforms operate and compete globally,” said Clara SHI, CEO of WorldFirst and Vice President of Ant International. “At WorldFirst, we built our API-integrated enterprise solution precisely to meet this critical need. It delivers a responsive and streamlined treasury experience, enabling digital platforms to lead in today’s fast-paced market. We remain dedicated to deepening the integration of fintech and global commerce, empowering businesses to seamlessly connect with the world.”

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Business confidence in Singapore declined further in the third quarter of 2025, signalling a more cautious 2026 outlook as companies face persistent global uncertainty and rising operating costs.

The Singapore Business Federation’s National Business Survey 2025 – Annual Business Sentiments Edition shows the Business Sentiment Index (BSI) dropping from 55.4 in Q2 to 52.2 in Q3. The 3.2-point fall is significantly sharper than the 1.1-point dip recorded earlier in the year, indicating a sustained weakening in sentiment.

The survey also finds that expectations for Singapore’s economic performance remain subdued. Thirty-seven per cent of companies expect the economy to worsen over the next 12 months, while only 14 per cent foresee any improvement. This imbalance reflects continued caution among businesses as they weigh the impact of global conditions on domestic activity.

Confidence levels differ widely across industries. Banking & Insurance, Other Financial & Insurance Activities, and Construction & Civil Engineering remain comparatively positive. In contrast, Hotels, Restaurants & Accommodations (HRA), Retail Trade, and IT & Related Services show weaker sentiment.

Profitability expectations have deteriorated, registering 48.5 on the index — a 2.9-point decline from Q2. SMEs are notably more pessimistic than larger companies. Twenty-two per cent of SMEs express dissatisfaction with current conditions, compared with 15 per cent of large firms. Looking ahead, 38 per cent of SMEs expect conditions to worsen in the next year, versus 34 per cent of large companies.

Also Read: Small steps, big impact: How SMEs can champion ESG initiatives

Differences also emerge across sectors. Firms in Retail Trade and HRA expect the next 12 months to be more challenging, while a larger share of companies in Administrative & Support Services, Banking & Finance, and Wholesale Trade anticipate improvements.

Tariff concerns ease, but global sentiment weak

Concerns over US tariffs have moderated since the initial reaction in April. Negative assessments dropped from 81 per cent to 57 per cent by October 2025. The share of businesses reporting no significant impact increased from 15 per cent to 41 per cent.

Despite this improvement, dissatisfaction with the global business climate remains high at 33 per cent, compared with 14 per cent who are satisfied. Businesses are more optimistic about ASEAN, where 22 per cent report satisfaction with conditions.

This suggests regional markets continue to provide opportunities amid broader global weakness.

Manpower cost remains the top business challenge, cited by 63 per cent of respondents. Customer demand uncertainty (44 per cent) and rental cost (40 per cent) also rank high.

Cybersecurity and data-privacy risks have grown in prominence, rising to 36 per cent and entering the top five concerns. These risks are reported most frequently in HRA, Banking & Insurance, and Other Financial & Insurance Activities.

Sector-specific challenges continue to shape business responses. Manpower availability has the highest impact on HRA and Health & Social Services. Foreign workforce policies affect Construction & Civil Engineering and HRA firms most strongly.

Also Read: Inside Funding Societies’ strategy to help SMEs grow through stronger institutional funding

Retail Trade companies report the most significant concern over training staff to adapt to new technology, while Banking & Insurance companies highlight employee skills as a key issue.

Profitability pressures remain widespread. Only four per cent of firms report increased profitability over the past year, while 34 per cent experienced declines. Rising manpower, rental and logistics costs are the main contributors. Utilities are a top cost concern for SMEs, while large companies point to raw-material price volatility as a significant factor.

Strategic priorities shift ahead of the 2026 outlook

In response to these pressures, businesses are adjusting their priorities for the coming year. Increasing employee salaries (39 per cent), investing in new tech (33 per cent), and expanding into overseas markets (30 per cent) are among the top intentions. The most substantial increases are in overseas expansion, business process re-engineering, and supply chain diversification.

Revenue growth and cash flow management remain the most important goals for the next 12 months, at 65 per cent and 49 per cent, respectively. More companies are now focused on securing new business opportunities, overtaking talent-related priorities such as staff retention and training.

SBF Chief Executive Kok Ping Soon said businesses remain cautious about the 2026 outlook, despite reduced concerns over US tariffs. He cited manpower costs, external demand uncertainty, and rental pressures as key challenges and noted that companies are calling for support in Budget 2026 to manage costs, strengthen cash flow, and invest in workforce development.

He said SBF will continue working with companies and the government to help maintain Singapore’s attractiveness as a business hub.

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Image Credit: Priscilla Du Preez on Unsplash

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In a strategic move aiming to reshape Asia’s venture landscape, early-stage VC firm Gobi Partners has entered Japan, becoming a Global Network Partner at Takanawa Gateway Link Scholars’ Hub (LiSH), operated by East Japan Railway Company, JR East

This step marks a concerted effort to link Japan’s deep industrial and technological ecosystem with the entrepreneurial dynamism of Southeast Asia.

Also Read: ‘If Japan doesn’t open up, it will stagnate’: UntroD’s Kumamoto on what must change

LiSH, situated in the futuristic Takanawa Gateway City and directly connected to Tokyo International Airport, serves as a “global gateway” for startups, corporates, and researchers to collaborate on innovations shaping urban life. Opened in May 2025, the hub embodies the country’s ambition to redefine future living through smart-city solutions and cross-border collaboration.

For Gobi, the move underscores a strategic pivot: rather than simply backing Southeast Asia-born startups, the firm now aims to function as a trans-regional bridge, connecting supply-side industrial might with demand-side startup energy. As Gobi co-founder and chair Thomas G. Tsao said, the goal is to position the VC firm “in the middle” of what he describes as the “next wave of cross-border venture activity.”

This expansion builds on years of existing collaboration. Gobi has already co-hosted the Malaysia-Japan Innovation & Capital Forum with entities, including Tokyo Stock Exchange and JETRO. The firm has also partnered with Japan-based funds and corporates — channeling capital and strategic backing into Southeast Asian digital-economy businesses.

Previous portfolio companies under Gobi have received investment or strategic support from Japanese corporations, including Saison Group, OSK SBI Group, Yamato Transport, Persol Group, Cool Japan Fund, Sumitomo Corporation, Kodansha, MUFG, and Daiwa Securities Group, underscoring deep financial, operational, and strategic linkages.

Japan itself is doubling down on global outreach. Its national Startup Development Five-Year Plan (2022-2027) aims to nurture 100,000 startups and produce 100 unicorns, with cross-border collaboration seen as a key pillar. Recent data underlines momentum: venture funding in Japan rose 35 per cent in 2024, while Southeast Asia attracted over US$5 billion in early-stage capital, suggesting both regions are entering a new phase of mutual convergence.

Also Read: Japan’s innovation dilemma—and why SEA startups could be the answer

With this expansion, Gobi Partners is betting on a powerful thesis: that Asia’s next growth wave will not come from isolated ecosystems, but from connected ecosystems, where Japanese industrial excellence meets Southeast Asian startup agility. For global and regional investors, the newly merged network offers fresh opportunities for co-creation, capital deployment, and scale beyond borders.

As Tsao puts it: “Where others see risk, we see inevitability.” And if this move pays off, it may mark the start of a new era for pan-Asian venture capital — one where capital, talent, and ideas flow freely between Tokyo, Kuala Lumpur, Jakarta, Manila and beyond.

Last year, Gobi Partners established a strategic partnership with Japan-based Cross Capital to facilitate cross-border innovation and enhance the flow of Japanese investments into Southeast Asia’s startup landscape.

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We often celebrate innovation when we see faster machines, sleeker designs, or smarter systems. But the deeper question is: are we truly reinventing, or simply improving efficiency?

Recently, I watched a video on modern car manufacturing. Robots worked with flawless rhythm, welding and assembling at incredible speed. It was impressive. Yet, what rolled out of the factory was still a car. The production had changed — the product had not.

This tension between process and product runs through not just technology, but also education.

Process vs product

Improvement focuses on process. It makes things easier, faster, or more automated. But it doesn’t always change the essence of what’s being created.

Take assistive technology. The wheelchair has seen countless upgrades: lighter frames, motorised wheels, even smart navigation. Yet, a wheelchair is still a wheelchair. The product has not been reimagined.

The bigger question is: can we move beyond improving the chair to enabling mobility itself? Can we reimagine human movement rather than refining the tool?

Why this matters in education

Education mirrors this dilemma. Classrooms have adopted digital tools, online platforms, and AI-powered grading systems. But are we reinventing learning, or just making the old system more efficient?

• Are students still memorising facts — just now on tablets instead of paper?
• Are tests still the ultimate measure of intelligence — simply graded faster by algorithms?
• Are we still chasing the same narrow definitions of success, wrapped in digital packaging?

When efficiency becomes the main goal, we risk modernising the delivery while leaving the purpose untouched.

What reinvention looks like

Reinvention requires imagination, not just efficiency. In education, some models are already pointing the way:

• Montessori and project-based learning shift focus from memorisation to exploration, nurturing curiosity and independence.
• Finland’s education system prioritises problem-solving, collaboration, and well-being over exam performance.
• AI tutors and adaptive platforms personalise learning instead of just digitising it, allowing each student to progress at their own pace.

These aren’t simply upgrades. They represent a deeper rethinking of what learning is for.

The reinvention mindset

The difference between improvement and reinvention can be summed up as:

• Improvement = polishing → doing the same thing, but better.
• Reinvention = rethinking → asking if the “thing” itself should be different.

Also Read: To what extent will AI affect the media industry?

If we want to prepare future thinkers, we must stop glorifying efficiency alone and ask bigger questions:

• What is the purpose of education in an age where knowledge is everywhere?
• How do we measure success when creativity, adaptability, and empathy matter as much as grades?
• Are we teaching children to use tools, or to reimagine tools altogether?

Application for future thinkers

To adopt a reinvention mindset, start small:

• Question assumptions – Instead of asking, “How can this be improved?” ask, “Why does this exist at all?”
• Prioritise human outcomes – A “better” system isn’t one that produces higher scores, but one that nurtures stronger thinkers and happier lives.
• Prototype boldly – Reinvention often begins with experiments: a flipped classroom, a hands-on project, or a community collaboration.

Conclusion

Whether in technology, healthcare, or education, the same question applies:

Are we just improving the process, or are we reinventing the product?

Because in the end, a car is still a car, a wheelchair is still a wheelchair, and a classroom is still a classroom — unless we have the imagination to reimagine what mobility, learning, and living could mean altogether.

That’s where true innovation begins.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Indonesia’s electric vehicle (EV) sector experienced a sharp  49 per cent year-to-date (YTD) growth through Q3 2025, contrasting significantly with a 11 per cent contraction in the country’s overall light vehicle (LV) market. These findings were highlighted in the PwC ASEAN-6 eReadiness 2025 report, which analyses consumer sentiment and market readiness across the region.

While the total industry volume (TIV) for light vehicles across the ASEAN-6 bloc remained relatively stable, dropping only 1.5 per cent overall, Indonesia’s automotive sector faced a significant downturn. This contraction was primarily driven by increased luxury vehicle taxes, reduced government expenditure, and a weakening rupiah, which collectively suppressed purchasing power amidst economic instability.

Also Read: Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles

Despite the challenging environment for conventional vehicles, EV adoption in Indonesia reached 18 per cent of total vehicle sales, slightly exceeding the ASEAN average of 17 per cent.

Lukmanul Arsyad, PwC Indonesia Industrials and Services Leader, confirmed the divergent trends: “In the midst of the 11 per cent contraction in the Indonesian automotive market in YTD Q3 2025, electrification is moving in the opposite direction.” He added that the segment’s growth confirms a “significant opportunity for EV acceleration,” bolstered by tax incentives and battery investment, even as the conventional market is under pressure.

However, Indonesia’s 49 per cent EV growth rate trailed the overall ASEAN rise of 62 per cent. Regional counterparts displayed more aggressive electrification, with Thailand and Vietnam recording growth rates of 45 per cent and 84 per cent, respectively.

Furthermore, Vietnam and Singapore showed standout light vehicle growth, recording +18 per cent and +25 per cent respectively, supported by EV incentives, registration policies, and economic strengthening.

Consumer satisfaction and skepticism

Indonesian EV owners demonstrate high loyalty, with 99 per cent reporting satisfaction with their vehicles, marking the highest satisfaction rate across the ASEAN region (up from 93 per cent in PwC’s report last year). This satisfaction is broadly attributed to quicker charging times (50 per cent) and lower operational costs (47 per cent) across ASEAN users.

Also Read: How electric luxury cars are reshaping the industry

Despite this high satisfaction, 33 per cent of Indonesian EV owners are considering reverting to internal combustion engine (ICE) vehicles. The primary reasons cited for this potential reversal are higher-than-anticipated maintenance costs (71 per cent), driving experiences that did not meet expectations (61 per cent), and insufficient range (52 per cent).

For the 70 per cent of Indonesian respondents identified as EV prospects, price remains a critical barrier. Nearly half (48 per cent) of prospective users in ASEAN-6 expect prices to be under US$46,000, with 15 per cent specifically interested in the low-price segment starting below US$11,000. Sceptics, comprising 17 per cent of the Indonesian market, cited limited range (55 per cent), battery durability concerns (53 per cent), and charging time (42 per cent) as their primary concerns.

Infrastructure gap looms large

The PwC report assessed ASEAN nations on their EV readiness across metrics, including supply, demand, government incentives, and infrastructure availability. Indonesia showed progress, with its overall EV readiness score increasing to 2.8 (out of 5) in 2025, up from 2.0 the previous year.

The most significant improvement was recorded in the government incentive dimension, which jumped to 4.0, making Indonesia the country with the highest incentive score in the ASEAN-6 bloc. Furthermore, consumer demand remains robust, scoring 3.7.

However, the success of the transition is constrained by significant structural deficiencies, particularly in infrastructure. Indonesia’s infrastructure score stands at a low 1.4, significantly trailing Singapore’s score of 4.3. Supply chain readiness in Indonesia is also noted as relatively low at 2.3, below Vietnam’s score of 3.0.

Also Read: EV adoption in the Philippines gains momentum, but challenges in financing and technicalities remain

Arsyad concluded, “With a solid policy foundation and the highest incentives in ASEAN at 4.0, Indonesia has a significant opportunity to attract investment and accelerate the EV transition. However, success will depend on closing the infrastructure gap… as well as strengthening the supply chain. These structural gaps underscore the urgency of coordinated action to maintain momentum and secure Indonesia’s competitive position in the region.”

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For Southeast Asian founders and investors, 2025 presents a powerful paradox. We’re living in a time of extreme volatility—geopolitically, climatically, and technologically. Yet, in that volatility lies opportunity.

For decades, supply chains were a backend function—something startups outsourced, optimised, or ignored. But this assumption no longer holds. In today’s world, supply chains aren’t just operational—they’re strategic, visible, and investible. They define your startup’s resilience, sustainability, and ultimately, its valuation.

At the Fosus Asia Pacific Supply Chain Sustainability Summit 2025, I presented why global trade is shifting under the weight of multipolarity, climate change, and AI-driven digitalisation. For Southeast Asian founders, these aren’t distant megatrends. They’re the tectonic forces shaping how you build, scale, and exit in this decade.

Through this article, I hope to shine light on the opportunities startups and founders like yourself can capture in this geopolitically volatile world.

Multipolarity: Startups can’t be neutral in a fragmenting trade world

In a multipolar world, neutrality is a myth. The post-Cold War era of globalism, led by US-dominated institutions like the WTO, is fracturing. Regional blocs are replacing multilateral consensus.

• BRICS+ now includes not just Brazil, Russia, India, China, and South Africa, but also Indonesia, Egypt, and Saudi Arabia—emerging as a counterweight to the G7.
• The Regional Comprehensive Economic Partnership (RCEP) ties together ASEAN with China, Japan, and Australia, unlocking intra-Asian growth.
• The Indo-Pacific Economic Framework (IPEF), led by the US, focuses on digital standards and clean economy norms.

For SEA startups exporting hardware, electronics, or even food products—this fragmentation means regulatory balkanisation. You’ll face divergent data privacy rules, compliance requirements, and tariff barriers based on which markets or investors you align with.

To give an example, if your supply chain touches Taiwan, Singapore, India, and Europe—you’re no longer just managing logistics. You’re navigating a complex geopolitical chessboard. And you need to be good at it.

Also Read: Rethinking supply chains and trade in Southeast Asia amid global tariffs

Trade is a weapon, and you’re probably in the crossfire

Startups relying on AI chips, electric vehicle parts, or rare earths need to know this: access to critical resources is now political.

• In December 2023, China banned the export of rare earth extraction technologies, reinforcing its grip on materials that power EVs, drones, and smartphones.
• In early 2025, the US expanded AI chip export controls, placing Southeast Asian nations into “tiered compliance categories” that limit access to cutting-edge compute for data centres and LLMs.
• Ukraine peace talks now include rare earths in the negotiation table, which the long-awaited deal on the U.S.-Ukraine Reconstruction Investment Fund was recently signed in May 2025.
• Grain shipments out of Ukraine are conditional.
• LNG is rerouted via Singapore due to energy realignments in Europe.

These aren’t abstract events. They will shape your cost of goods sold, your product timelines, and whether your next big AI product even gets the compute power it needs.

So ask yourself: is your startup’s tech stack or component source geopolitically vulnerable?

Climate change will break your supply chain (or rebuild it smarter)

The IPCC’s 2023 report made clear: global infrastructure—especially its ports and coastlines—is highly vulnerable to extreme weather.

Take the Panama Canal drought in 2023. El Niño triggered severe water shortages, reducing ship capacity from 50 feet to 44 feet. Vessels had to offload cargo. Shipping delays stretched for weeks. Costs ballooned—groceries, parts, everything.

If you’re a founder building a physical product in the SEA region, and you don’t have climate disruption contingencies—you’re already behind.

But here’s the upside: climate change is also opening up new frontiers.

• Arctic trade routes are becoming navigable, slashing 30–40 per cent off shipping time between Asia and Europe.
• Countries like Russia are investing in Arctic infrastructure. The Northern Sea Route could become the next BRI. Who will build the predictive shipping platforms, port automation systems, and insurance products for these new lanes? That’s startup territory.

Sustainability isn’t just policy—it’s a funding advantage

Climate regulation is no longer a regulatory burden. It’s a market signal and a capital attractor.

• The IMO’s carbon reduction targets and the EU’s Carbon Border Adjustment Mechanism (CBAM) mean your startup needs a carbon data story.
• If you’re in manufacturing, logistics, or agri-tech, expect Scope 3 emission disclosures to be part of tender requirements, partnerships, and funding due diligence.
• Green shipping corridors like Singapore–Rotterdam are leading the way in scaling zero-emission shipping, with clear investor interest.

If your startup contributes to carbon tracking, waste-to-value loops, or port-side optimisation, you’re building not just a business—you’re de-risking national infrastructure. Investors are watching.

Also Read: Enhancing cyber supply chain resilience: A vision for Singapore

AI and digitalisation: The supply chain itself is becoming smart

If you think AI is just for apps, think again. It’s transforming the physical layer of how trade works.

• 77 per cent of WEF Lighthouse Factories now use analytical AI for predictive maintenance and logistics optimisation.
• Generative AI is already being used to automate procurement workflows, simulate design specs, and validate manufacturing feasibility.

Midea in China, for instance, slashed product design lead times by 45 per cent using an in-house PLM platform. That’s not a SaaS unicorn—that’s what smart manufacturing looks like in 2025.

Meanwhile, Xiaomi’s Su7 EV factory has gone fully “dark”—718,000 sqm of space, 700 robots, only 30 humans. Car produced every 76 seconds.

The opportunity? Founders building for factory intelligence, robotics coordination, predictive quality control, or blockchain-tracked ESG compliance are sitting on untapped verticals.

DAOs, tokenised trade, and the borderless supply chain

Enter the next frontier: Decentralised Autonomous Organisations (DAOs).

Imagine a smart contract-based procurement system that doesn’t rely on a central platform—but executes payments, delivery terms, and ESG verification automatically. With blockchain as a backbone, carbon data becomes immutable. Trade financing becomes instantaneous. Supplier compliance is no longer manually audited—it’s verified on-chain.

Sounds fringe? Ethereum did it. Supply chains will do it next.

And if you’re building infrastructure for DAOs, smart contract standards, or cross-border digital trust layers—you’re not early. You’re right on time.

To conclude: In 2025, supply chains are a founder’s edge

At the Fosus Summit, I said that supply chains are no longer invisible—they’re now geopolitical chess pieces, climate resilience testbeds, and digital battlegrounds.

Founders who master this space—who understand that the new battlegrounds of commerce are not only price and product but route, regulation, and resilience—will lead the next generation of SEA unicorns.

And investors: if your thesis doesn’t include supply chain resilience, digital trade infrastructure, or decarbonisation platforms, you may be underestimating where the next breakout opportunity will come from.

Supply chains and geopolitics are no longer in the back office anymore. We’re at the frontlines.

Follow ‘Geopolitical Action 4 Leaders‘ for actionable insights in a Geopolitically VUCA world.

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Asia, home to over 60 per cent of the global population, is facing one of the most pressing environmental challenges of the 21st century—water scarcity. According to the World Resources Institute (WRI), 12 out of the 17 most water-stressed countries in the world are in Asia, with nations like India, Pakistan, and Bangladesh experiencing severe water shortages exacerbated by climate change, rapid urbanisation, and population growth.

As the region continues to industrialise and its population increases, demand for water is expected to rise dramatically. In this context, innovative technologies are emerging as critical tools to address Asia’s water crisis and create sustainable water management systems that can meet future demands.

The scope of Asia’s water crisis

Asia’s water crisis is multifaceted, involving both physical water scarcity and economic water scarcity. Physical water scarcity occurs when water resources are insufficient to meet demand, while economic water scarcity results from a lack of investment in water infrastructure and management systems. According to the Asian Development Bank (ADB), the region needs to invest over US$800 billion in water infrastructure by 2030 to address these challenges.

The agricultural sector, which accounts for 70 per cent of the region’s water usage, is particularly vulnerable. Many countries in Asia depend heavily on irrigation for their food production, and unsustainable agricultural practices have led to over-extraction of groundwater and degradation of water quality.

Additionally, rapid urbanisation has put immense pressure on water resources in cities, with megacities like Delhi, Jakarta, and Bangkok experiencing acute water shortages during dry seasons.

The role of technology in water management

Innovative technologies are now playing a pivotal role in addressing these challenges by improving water efficiency, reducing waste, and enhancing sustainability. Among the most promising technologies are blockchain, IoT (Internet of Things), and artificial intelligence (AI), which together form a powerful combination for tackling water scarcity.

Also Read: Climate conferences won’t save us: How to start taking action all year round (Part 1)

Blockchain technology, known for its decentralised and immutable nature, is being utilised to enhance transparency and accountability in water resource management. By using blockchain, stakeholders can track water usage, distribution, and quality in real-time, ensuring that resources are allocated efficiently and equitably. For example, Dubai’s Water Authority has implemented blockchain to monitor water consumption and detect leaks in real-time, reducing water waste and ensuring more sustainable usage.

Blockchain companies are also pioneering new avenues for investing in water sources, creating an additional layer of nuance to solving infefficiencies in sustainable water management. At LAKE, individuals can invest directly in water sources through the platform’s launchpad, essentially becoming shareholders in these critical resources.

This model unlocks the potential for increasing water availability and generating value for investors, providing an innovative approach to meet the growing demand for water in Asia and beyond. By linking capital with water conservation efforts, blockchain technology can empower sustainable management systems and help address the region’s water scarcity in more meaningful ways.

In a region where corruption and mismanagement often plague water distribution systems, blockchain offers a reliable solution for verifying transactions and ensuring that water resources reach the communities that need them most. Smart contracts, enabled by blockchain, can automate water distribution based on real-time data, reducing human intervention and inefficiency.

IoT and AI for smart water grids

IoT and AI are also transforming water management by enabling the creation of smart water grids. IoT sensors can monitor water levels, detect leaks, and assess water quality in real-time, providing actionable data that can inform decision-making. In cities like Singapore, which is often hailed as a model for water sustainability, IoT sensors are used to monitor the city’s water supply, ensuring that no water is wasted and that consumption patterns are optimised.

AI algorithms can analyse this data to predict water demand, identify inefficiencies, and suggest solutions. For example, AI can forecast future water needs based on weather patterns, population growth, and economic activity, allowing governments and utilities to plan for shortages and implement conservation measures in advance.

Desalination and water recycling technologies

In coastal regions of Asia, where freshwater resources are scarce, desalination is often proposed as a solution. However, it is not without significant drawbacks. Desalination processes can harm marine ecosystems, disrupt fish populations, and result in a high environmental cost.

Also Read: Balancing economic growth and climate action: Decarbonising SEA’s built environment

While advances in membrane technology have made desalination more energy-efficient, these environmental risks make it a less viable long-term option for sustainable water management. A more balanced approach would focus on reducing water demand and improving water efficiency before turning to such ecologically damaging methods.

Similarly, water recycling technologies are being deployed in countries like Singapore, where reclaimed water, known as “NEWater”, is used for industrial purposes and even treated for human consumption. These technologies are helping to close the water loop, ensuring that every drop of water is used as efficiently as possible.

Asia’s path to sustainable water management

While technology offers promising solutions, the adoption of these innovations requires strong political will, investment, and public-private partnerships. Governments in Asia must prioritise water management in their national development strategies, investing in infrastructure and creating regulatory frameworks that encourage innovation. The private sector also has a crucial role to play, particularly in financing and developing new technologies.

For example, Japan’s Ministry of Economy, Trade, and Industry (METI) has launched initiatives to support the development of smart water technologies, while companies like Panasonic and Hitachi are pioneering water-efficient solutions for both urban and rural areas. Similarly, in India, government initiatives like the Jal Jeevan Mission aim to provide clean water to every household by 2024, leveraging technology to monitor water distribution and ensure transparency.

Asia’s water crisis is complex and urgent, but innovative technologies offer a path forward. Blockchain-enabled transparency and AI-powered smart grids offer the tools necessary for sustainable water management; however, the successful implementation of these technologies will depend on collaboration between governments, the private sector, and civil society. By embracing these innovations, Asia can not only address its current water challenges but also build a more resilient and sustainable future for generations to come.

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For years, Southeast Asia’s entrepreneurial culture has been defined by speed — raising fast, building fast, scaling fast. Founders learned to survive by keeping up with the pace. But beneath the noise of acceleration, something quieter, more human, has been reshaping the landscape.

Entrepreneurs are craving connection, not just contacts. Meaning, not just metrics. Belonging, not just business.

And at the centre of this shift is a new kind of leader: The community architect — someone who doesn’t just bring people together, but designs how people grow within a shared space.

One of the most compelling examples of this emerging leadership is found in Singapore’s Rainmaker community, shaped by Richard Giam, whose approach reflects a broader cultural movement transforming how entrepreneurs interact, learn, and evolve.

The networking session that didn’t feel like networking

At a recent Rainmaker gathering, attendees walked in expecting the usual: fast-paced introductions, surface-level exchanges, and business card juggling.

Instead, the room was arranged in circles. The tone was reflective, not rushed. And the focus was on listening, particularly to those who often go unheard in typical networking environments.

The session was intentionally designed for introverted entrepreneurs.

Extroverts in the room found themselves sitting in silence, learning to listen rather than lead. Introverts found themselves speaking without interruption for the first time at a business event. Conversations deepened. People slowed down. Reflection replaced performance.

These outcomes weren’t accidental. They were crafted.

Giam didn’t host an event, he engineered an environment.

This is community architecture: Designing the room so the room can change the people.

How a hawker stall shaped a community architect

Giam’s ability to read people didn’t come from textbooks or workshops. It came from growing up in a hawker family, where human behaviour was on display every single day — stress, resilience, survival, connection. His corporate years were layered in business development, major-donor fundraising, and the emotional intelligence required to build trust with people from vastly different backgrounds.

Entrepreneurship then sharpened a skill many overlook: The ability to create safe spaces where people feel seen.

Rainmaker’s 600-strong network isn’t built on marketing funnels. It’s built on trust, values, consistency, and culture, and culture is something you shape intentionally, not accidentally.

Also Read: Culture-led marketing: Helping partners activate community moments at scale

Belonging is becoming the new currency

What Giam has created is not unique in intent, but it is unique in execution.

Across Singapore, Malaysia, Indonesia, and the Philippines, communities are beginning to structure themselves not around information, but around identity.

People are joining:

• Groups for founders exploring clarity and reinvention.
• Speaker communities practising communication and visibility.
• AI and digital transformation circles navigate new technologies together.
• Peer-learning tribes sharing financial literacy and market knowledge.

These communities aren’t growing because of content.
They’re growing because of belonging.

The shift is subtle, but profound:

People don’t join communities to learn something. They join to become someone.

This is the “cult-ure” shift — not cult in the fanatical sense, but in the cultural sense: Shared identity, shared language, shared rituals, shared growth.

The community architects behind the shift

Giam isn’t the only one designing belonging in this way.

In the speaking landscape, Speakers Society — which I co-founded together with community builder Kelly Kam — emerged from the belief that people improve not by consuming advice, but by practising in safe, structured environments. Growth comes from showing up repeatedly, receiving feedback, and learning collectively. It’s a community that behaves more like a training ecosystem than a classroom.

Across female entrepreneurship, I’ve seen the same pattern. Women founders don’t gather for tactics — they gather for clarity, confidence, identity realignment, and the emotional support that strengthens their leadership. These spaces often look less like business groups and more like growth circles.

In AI and digital learning, communities form to help people decode technological change. No one wants to navigate emerging tools alone; people instinctively seek out rooms where curiosity is shared, and uncertainty becomes less intimidating in collaboration.

Also Read: Navigate in a cookie-less world, leverage AI and think community-first

Different verticals. Different audiences. Different intentions. Yet the underlying architecture is unmistakably the same.

TEDx chapters worldwide show this — ideas creating micro-communities around storytelling and shared purpose. Toastmasters clubs have thrived for decades because transformation happens in ritual, repetition, and collective encouragement. Even e27’s own ecosystem has long served as connective tissue, fostering a sense of shared identity among founders navigating Southeast Asia’s evolving tech landscape.

Communities don’t succeed because of their topic. They succeed because someone intentionally shapes the environment in which humans grow.

Giam does this in the business world. Kam and I do this in the speaking and developmental landscape. Founders, educators, technologists, and facilitators across SEA are doing it in their own spheres.

Together, they form a new layer of cultural infrastructure in the region.

Why this moment matters

Why is this happening now?

A few converging forces explain the rise of community architects:

• Entrepreneurial isolation in a world of solopreneurs and distributed teams.
• Information overwhelm is making curated environments more valuable.
• Post-pandemic behaviour shifts, where people prioritise meaning over speed.
• Accelerating AI, which makes human connection feel more essential.
• A regional hunger for reinvention, driven by economic and technological change.

Entrepreneurs don’t just want strategies anymore.
They want spaces where they can learn, grow, and feel human again.

This is why the leaders who shape these spaces matter.

The invisible infrastructure: What makes community work

Despite appearing organic, strong communities rely on structure:

• Rhythm
• Ritual
• Shared norms
• Emotional safety
• Behavioural design
• Guided interaction
• And increasingly, digital systems that support consistency

Culture makes people stay. Structure makes a community last.

This combination explains why certain ecosystems feel magnetic, and why others collapse quickly.

Also Read: Rethinking communication, connection, and empathy in the age of AI

The future of entrepreneurship in Southeast Asia will be built on community

As technology accelerates and the world becomes more automated, entrepreneurs will increasingly rely on the one thing AI cannot replicate: A human connection built on trust, identity, and shared transformation.

And the people who know how to build these environments — like Giam, Kam, and countless other quiet architects across the region — are shaping the next era of entrepreneurial life in SEA.

Different communities. Different missions. Different cultures.

But all contributing to a bigger truth: Belonging is becoming the new operating system for growth. And the leaders who design that belonging will define the future of entrepreneurship in Southeast Asia.

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Eluvo, a health-tech startup focusing on women in the Philippines, has closed a funding round led by Foxmont Capital Partners.

The transaction details remain undisclosed.

The money will be used to accelerate the growth of the startup’s doctor-led, women-led healthcare clinic in the archipelago, according to a statement.

Also Read: Foxmont secures US$30M in Fund III first close with Grab, DGGF as investors

The Philippines faces several acute systemic healthcare problems, including rising costs, limited specialist availability, and cultural stigmas that frequently deter women from seeking necessary support. The country underperforms against regional peers in nearly all measures of sexual and reproductive health tracked by the UN Population Fund, despite having established regulatory frameworks. Compounding this issue, 46-58 per cent of women report difficulty navigating the conventional healthcare system, highlighting significant structural obstacles.

Eluvo was launched to tackle these issues. It aims to deliver quality, personalised, and stigma-free healthcare across every stage of a woman’s life, integrating clinical expertise, evidence-based diagnostics, and digital access. It offers a modern, personalised, and premium standard of care across fertility care, sexual health, hormone health, family planning, pregnancy & postpartum care, and perimenopause & menopause support.

Eluvo brings “consultations, diagnostics, and treatment together in one location,” supported by omnichannel care and designed to be part of a woman’s lifestyle rather than a sterile medical experience. The approach is encapsulated in the “Talk, Test, Treat model,” an intuitive pathway designed to reframe healthcare as proactive and personalised. This involves compassionate, “stigma-free conversations” led by women-focused providers (Talk); accessible diagnostics through both at-home kits and in-clinic assessments (Test); and evidence-based, tailored treatment plans (Treat).

Strategic partnerships and expansion

To strengthen its leadership in fertility services, Eluvo has established a partnership with GenPrime, a premium fertility clinic with a proven track record across Southeast Asia, China, and the US. This collaboration expands access to “world-class” fertility services by bringing high-end, modern facilities to an underserved market.

The institution is led by Dr Jaycy Olivarez, an OB-GYN who draws on deep personal insight, having undergone IVF herself, providing both professional expertise and an understanding of the patient journey.

Also Read: The most-funded healthtech startups in Southeast Asia: A decade in review

Eluvo has already opened its first clinic in Parqal, Aseana City, offering a safe and empowering environment. Proceeds from the funding round will be channelled into the next phase of growth across Metro Manila. This expansion reflects the company’s commitment to making “top-notch healthcare more widely available” while maintaining the personalised, high standard of care established by the brand.

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