Asia-Pacific’s startup ecosystem is undergoing a quiet but profound transformation, and it is not being led by the young entrepreneurs that popular culture often celebrates. Instead, a new founder profile is emerging: one defined by experience, maturity and a willingness to commit fully to the high-stakes pursuit of growth.

For years, the global startup narrative has been dominated by the idea of the youthful tech prodigy: the university dropout with a hoodie, an app idea and a billion-dollar valuation in sight. But new data from Angel Investment Network suggests that this stereotype is increasingly outdated in Asia-Pacific. With 70 per cent of founders now over 45, the region’s entrepreneurs are proving that innovation does not belong exclusively to the young.

This shift matters because it signals a maturing startup environment. Older founders often bring more than ambition; they bring industry expertise, operational discipline and professional networks built over decades. They have seen markets rise and fall, understand customer pain points more deeply, and are often better equipped to build sustainable businesses rather than chasing hype.

In many ways, this new generation of mid-career entrepreneurs represents a different kind of startup leader: one less focused on disruption for disruption’s sake, and more focused on execution. Their companies may be rooted in real-world problems they encountered throughout long careers, whether in finance, logistics, healthcare or manufacturing. This could lead to a stronger pipeline of startups solving practical challenges, rather than simply chasing the next trend.

Also Read: Fear and greed at 28: Why traders are fleeing crypto right now

The implications extend beyond the founders themselves. As the ecosystem evolves, investors, accelerators and policymakers may need to adjust their assumptions about who an entrepreneur is. Support structures that have traditionally targeted younger founders must expand to recognise entrepreneurship as a lifelong pursuit, not a phase confined to one’s twenties.

Alongside this new founder profile is another defining trend: a marked increase in full-time commitment. The survey found that 56 per cent of Asia-Pacific founders are working exclusively on their startups, a higher share than in the US, where many founders maintain secondary jobs.

This is significant. Building a company is rarely a part-time endeavour, especially when the goal is hyper-growth. Full-time commitment often translates into faster decision-making, stronger momentum and greater clarity of purpose. Entrepreneurs who dedicate themselves completely are better positioned to scale products, attract talent and compete globally.

At the same time, this level of commitment reflects both confidence and sacrifice. Older entrepreneurs may be leveraging personal savings or financial stability built over years of employment, enabling them to focus entirely on their ventures. But it also raises important questions about accessibility. If entrepreneurship increasingly requires the cushion of mid-career resources, will younger founders find it harder to enter the arena?

Ultimately, Asia Pacific’s startup story is becoming less about youthful mythology and more about seasoned ambition. The rise of experienced entrepreneurs and their willingness to commit full-time signals a new phase of ecosystem growth—one that could produce stronger, more globally competitive companies.

The Unicorn dream is still alive. But in Asia Pacific, it is being pursued not by the youngest founders in the room, but by those with the longest view of what it takes to build something lasting.

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The lead image in this article was generated by AI.

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Southeast Asia’s food delivery sector is entering its consolidation era, and 2025 has made that trajectory difficult to ignore. The persistent speculation around a Grab-GoTo merger reflects more than corporate gossip; it signals an industry reaching the limits of fragmented competition. With Grab controlling more than half of regional food delivery GMV, the market is no longer wide open terrain but a concentrated battlefield where scale determines survival.

Indonesia sits at the centre of this end-game. Growth remains strong, yet Gojek’s shift toward profitability has created openings for rivals to expand. Investor patience for endless subsidy-driven rivalry is thinning, and leadership changes at GoTo only intensify the sense that structural change is approaching.

Vietnam offers a clear lesson: in a high-cost, high-risk market, being the third player is often unsustainable. Gojek’s withdrawal underscores the brutal economics of food delivery, where ecosystem depth and market dominance matter more than early entry.

What makes Southeast Asia distinct, however, is the political overlay. The emergence of Indonesia’s sovereign wealth fund Danantara as a stakeholder highlights that consolidation is not just a business decision but a national one.

Ultimately, the region is moving toward fewer, stronger platforms. The only question is whether consolidation arrives through merger headlines or quieter market exits.

REGIONAL

Southeast Asia startup funding hits US$5.4B in 2025: report: The total deal count (461) was among the lowest in over six years, with a slight increase in H2 2025 compared to H1, driven by a few large rounds. Singapore accounted for more than 60% of regional deals, while Vietnam, Malaysia, and the Philippines saw drops.

Kopi Kenangan posts first profitable year as it expands to 1,324 stores across six countries: Kopi Kenangan posted its first profitable full year in FY2025, with US$184M revenue and US$17M profit. It expanded to 1,324 stores, strengthened governance, and prepared for a future IPO.

HeyMax’s US$11M raise signals a new era of programmable travel loyalty in Asia: Singapore-based travel loyalty startup HeyMax raised US$11 million Series A led by Peak XV, with strategic and angel backing, to expand its AI-driven cross-border rewards platform and universal travel wallet across Asia-Pacific.

Travel is back, and it’s more cutthroat than ever: With international arrivals projected to hit a staggering 1.58 billion this year, surpassing pre-pandemic peaks by 5 to 7 per cent, the industry has shifted into a high-stakes, hyper-competitive landscape where digital laggards face extinction.

Singapore orders Meta to expand anti-scam facial recognition on Facebook: This follows a 2025 directive requiring facial recognition and other steps to protect certain government officials. Reports show a decline in scams involving those officials, but scammers now target others not covered before.

Indonesia warns Grok AI could be blocked over compliance issues: Authorities say that non-compliance could lead to such action, following the launch of new biometric registration rules. The platform, owned by Elon Musk’s X, has already implemented regional restrictions, including geo-blocking for Indonesia.

FEATURES & INTERVIEWS

The subsidy wars are ending and only two will survive: The annual Food Delivery Platforms in Southeast Asia report by Momentum Works suggests that while regulatory and political complexities continue to stall a formal union, further market consolidation is not just a possibility—it is structurally unavoidable.

The China playbook comes to Southeast Asia’s food apps: As 2026 approaches, the success of a platform will no longer be measured by how much it can charge per order, but by how many millions of low-margin orders it can orchestrate through its ecosystem without breaking the unit economics of its delivery fleet.

The quiet layer keeping the chip boom alive: Singapore-based Global TechSolutions supports the semiconductor boom by refurbishing and upgrading critical fab tools to OEM-level reliability, reducing downtime, improving yields, and enabling near-site agility, audit-ready performance, and resilient supply chains.

The algorithm is the new head chef: In 2025, Southeast Asia’s food delivery platforms have evolved into demand orchestrators, shaping restaurant pricing, visibility, and customer flow through dine-out deals, advertising, and data asymmetry, increasing merchant dependency.

INTERNATIONAL

Microsoft loses US$357B in market cap after stock drop: The market cap dropped to US$3.2T after its stock declined about 10% on Jan 29, the largest daily fall since March 2020, following a disappointing earnings report. Its cloud growth for Azure and other services was reported at 39%, slightly below analysts’ expectations of 39.4%.

Amazon reportedly in talks to invest up to US$50B in OpenAI: The company has previously invested billions in OpenAI’s competitor, Anthropic. OpenAI is also engaging with other investors, with a potential total funding round nearing US$100B, including contributions from firms like SoftBank.

Why Antler is going all-in on Japan’s earliest-stage founders: Antler is doubling down on Japan’s startup ecosystem, investing US$1.55M across 10 startups in 2025 and increasing 2026 pre-seed cheques, signalling confidence in Japan’s rise as a global deeptech innovation hub.

Anthropic faces US$3B lawsuit over use of 20,000 music files: A group of music publishers, including Concord Music Group and Universal Music Group, allege the company illegally downloaded over 20,000 copyrighted songs, sheet music, and lyrics. The lawsuit claims the downloads involved piracy and were used to train Anthropic’s AI models.

Paytm reports US$270M Q3 net profit: In comparison, the Indian fintech company reported a loss of US$250M a year earlier. The profit in Q3 was driven by growth in its financial and payment services business.
The company noted that it maintained control over costs during the period.

Coupang’s interim CEO face police questioning over a data breach: Harold Rogers had previously defied two police summonses. The investigation follows Coupang’s announcement that the suspect behind the breach saved personal data of about 3,000 users, a figure criticised by the science ministry.

CYBERSECURITY

From fraud fighters to zero-trust builders: SEA’s cyber stars: From incident response and threat intelligence to fraud prevention, identity security, and zero-trust infrastructure, a new wave of startups is stepping up to address the region’s evolving security challenges.

Code, power, and chaos: The geopolitics of cybersecurity: Undersea fibre-optic cables are vital to global communication, trade, and security, yet rising geopolitical tensions and cyber threats make them vulnerable. Experts urge layered defenses, smarter regulation, and international cooperation to protect digital infrastructure.

How cybersecurity companies can build trust through digital PR: Public relations is essential for cybersecurity firms to build trust, communicate expertise, manage crises, and strengthen credibility. Strategic PR combines thought leadership, transparency, storytelling, and crisis preparedness to reinforce authority.

How cybersecurity crises are redefining corporate accountability: Cybersecurity is now a leadership and stakeholder trust issue, not just technical defence. Penta’s report shows incident response, transparency and executive accountability shape reputation, regulation and investor confidence more than breaches.

SEMICONDUCTOR

Microsoft CEO says company will keep buying Nvidia, AMD chips: Microsoft has begun deploying its first homegrown AI chips, named Maia 200, in its data centers, with plans to expand deployment soon. Despite this, CEO Satya Nadella said the company will continue purchasing chips from Nvidia and AMD due to ongoing supply challenges.

Tencent-backed AI chipmaker Axera plans US$379M Hong Kong IPO: Founded in 2019, Axera designs AI inference chips for on-device computing, edge inference, and smart vehicles, with its processors enabling real-time visual data processing. The company is offering 104.9 million shares at HK$28.20 (US$3.6) each.

Nvidia helps develop DeepSeek model: US lawmaker: Representative John Moolenaar said Nvidia helped DeepSeek optimise its R1 AI model using H800 processors through joint algorithm, framework, and hardware development. He argued this support allowed DeepSeek to achieve advanced performance, undermining US export restrictions on high-end chips.

AI

Why most founders misuse AI, and what breaks when you scale it: AI-first systems don’t fail first through technology, but through broken trust. In real communities, AI amplifies founder intent, boundaries, and accountability, accelerating clarity or quietly eroding relationships at scale.

Singapore’s AI adoption surges, but data complexity raises security risks: Report: Singapore enterprises are rapidly adopting AI, with strong early success, but Hitachi Vantara warns rising data complexity and cybersecurity risks could weaken governance, resilience and long-term ROI.

AI adoption is the easy part; scaling it safely is the real challenge: Singapore enterprises have widely adopted AI, but long-term ROI remains uncertain. Hitachi Vantara warns that data complexity and cybersecurity risks threaten scalability, pushing organisations toward stronger infrastructure, governance, and security-first strategies.

Why adults are encouraged to use AI but students are not: Rethinking what learning really means: Schools often ban AI as cheating, while adult learning celebrates it as empowerment. Seniors use AI for curiosity and growth. Education should teach responsible exploration, making learning safe, human, lifelong, and joyful.

The great stabilisation: Why 2026 will be the year AI “grows up”: AI is shifting from hype to practical impact by 2026. Competitive advantage will come from proprietary data, specialised smaller models, agentic workflows, ambient hardware, precise video tools, content quality safeguards, and ethical regulation.

THOUGHT LEADERSHIP

How eSIM can cut costs, boost CX, and simplify global operations for APAC startups: eSIM in APAC is shifting from a travel convenience to essential business infrastructure. Enterprises and OTAs can gain cost control, operational efficiency, scalable device management, and better customer experience by adopting eSIM beyond tourism.

The independent director’s mandate in Asia: Stewardship, strategy, and long-term value: Independent directors in Asia are vital stewards of resilience and long-term value, guiding strategy, innovation, risk oversight, ESG accountability, and human capital, while exercising independent judgment amid complex stakeholder expectations.

Low liquidity, high stakes: Why this crypto pullback feels different: Asian markets were mixed as tech stocks paused and geopolitical tensions lifted gold and oil. Japan and China slipped, Hong Kong fell, while Korea rose. Crypto weakened amid ETF outflows and regulatory uncertainty.

Digital banks win transactions, not loyalty: A missed opportunity in Indonesia: Indonesia’s digital banks show rapid growth in users and transactions, but most customers use them mainly for payments and promotions, not saving or wealth-building. Long-term trust, engagement, and habits remain key challenges.

Fractional investing: Turning spare change into market exposure: Fractional investing lets people buy small portions of shares or ETFs, making markets more accessible and affordable. It helps young investors diversify gradually, but requires discipline and planning to avoid risky, unstructured purchases.

The foundation of Southeast Asia’s tech future: Southeast Asia must treat AI as core infrastructure, not a feature, to unlock trillion-dollar GDP growth. Regional complexity fosters global-ready AI platforms, requiring AI-native operations, sovereign models, and sustainable physical infrastructure.

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In a bold cross-border power move, Singapore and Vietnam are bolstering their tech alliance with UniVentures, a startup accelerator programme run by BLOCK71 Vietnam and backed by Temasek Foundation.

The initiative cherry-picks the sharpest university-born startups from Vietnam, providing them with cash, mentorship, and a fast-track to regional domination.

Out of over 1,400 applications nationwide, 30 teams battled in a closed-door pitch fest for the Golden Gate Ventures (GGV) UniVentures Prize — a US$250,000 pot. The top 10 victors each snag US$25,000 and a three-month incubation grind at BLOCK71 Vietnam. The two standouts with real market muscle then jet to BLOCK71 Singapore for another three months, unlocking doors to Southeast Asia’s cutthroat markets.

Also Read: Why Vietnam is the next big thing for startups and corporate partnerships

The winners — hailing from Vietnamese universities, including students, alumni, and researchers — are tackling gritty regional headaches in healthcare access, environmental sustainability, productivity and skills development, and financial literacy. Standouts include BioWraps (nanotech biodegradable packaging from orange peels), EggVision (AI chick-sexing to slash poultry culling), and Volterra (AI-optimised EV charging with green energy).

A quick history of the Singapore-Vietnam tech partnership

Singapore and Vietnam have been deepening tech and startup ties since the early 2010s, kickstarting with the 2013 upgraded bilateral relationship that prioritised innovation. Key milestones: the 2018 Comprehensive Strategic Partnership, which spawned joint funds like the US$200 million Vietnam-Singapore Connectivity Cooperation Fund for digital infra; NUS Enterprise’s BLOCK71 landing in Ho Chi Minh City in 2019; and a flurry of MOUs on AI, fintech, and green tech post-COVID-19. By 2025, Vietnam’s National Innovation Centre partnered with Singapore’s A*STAR on deep-tech R&D, paving the way for UniVentures as the latest salvo in this Southeast Asia powerhouse duo.

Turbocharging Vietnam’s startup scene

UniVentures isn’t just free money; it’s a rocket booster for Vietnam’s ecosystem. These university teams get BLOCK71’s battle-tested incubation: hands-on mentorship from heavyweights like Google Cloud, IBM, and the Tony Blair Institute; investor intros via GGV; and a pipeline to Singapore’s ultra-connected markets. The top-two Singapore stint means instant access to capital, talent pools, and expansion routes — think scaling from Hanoi streets to SEA-wide dominance.

For Vietnam, it’s injecting structure into a chaotic scene, bridging uni innovation to commercial firepower, and fast-tracking unicorns amid a maturing market hungry for regional plays.

Vietnam vs Singapore startups: Twins with edge

Both scenes share some similarities. They both explode with young, tech-savvy talent – Vietnam boasts 100,000+ startups, mirroring Singapore’s density per capita. AI, fintech, and sustainability dominate; government muscle (Vietnam’s NIC, Singapore’s NRF) fuels both; and unicorns like Vietnam’s VNG and Singapore’s Grab prove SEA scalability.

The key difference is that Singapore’s ecosystem is a polished machine — mature VCs (US$10 billion+ funding in 2025), English fluency, and ironclad IP laws make it a global hub, but sky-high costs and tiny domestic market force instant exports. Vietnam’s is raw hustle: dirt-cheap talent (devs at US$500/month vs Singapore’s US$5,000), a 100 million consumer boom, but hampered by red tape, weak IP enforcement, and funding gaps (US$2B total in 2025 vs Singapore’s heft). Vietnam breeds volume scrappers; Singapore forges precision scalers.

Vietnam’s hottest tech verticals on fire

Vietnam’s startup inferno rages in fintech (US$2 billion+ valuations, think Momo’s 30 million users), e-commerce/logistics (Scommerce, Tiki riding 20 per cent+ YoY growth), edutech (topping APAC with 500+ firms amid skills crunch), agritech (drones and AI feeding a farm-to-table revolution), and greentech/EV (battery swaps and solar exploding with net-zero mandates). AI weaves through all, with 2025 investments hitting US$1B as manufacturing pivots smart.

“All startups begin with a team of talented and passionate people… UniVentures provides a platform for such Vietnamese founders to meet and transform their ideas into practical, scalable solutions,” said Professor Benjamin Tee, Vice President (Innovation & Enterprise), NUS Enterprise.

“Vietnam’s startup ecosystem is entering a new phase of maturity… UniVentures provides a structured platform that brings together capital, mentorship and regional exposure,” said Vinnie Lauria, Founding Partner, Golden Gate Ventures.

Also Read: The ultimate guide to succeeding in Vietnam’s startup ecosystem

The Gala, backed by The Business Times, drew top brass from both nations. Guest-of-honour Heng Swee Keat, Chairman of the National Research Foundation and former Deputy PM of Singapore, keynoted. A panel on “Catalysing Sustainable Innovation: The Next Frontier for Vietnam-Singapore Partnership” featured Ms Lim Hwee Hua (Chairwoman, Tembusu Partners), Ms Omi Dang (Chairlady, TTC AgriS), Mr Nguyen Dung Do (CEO and Co-founder, EnFarm), moderated by Ms Chen Huifen (The Business Times Editor).

The top 10 winners

1. BioWraps: Develops biodegradable packaging from polylactic acid and cellulose extracted from king orange peels using nanotechnology.
2. EggVision: AI-driven computer vision solution to identify chick gender at egg stage, reducing culling and costs.
3. LAWZY: AI-powered contract management platform simplifying contract creation, review and compliance.
4. MediPath: AI operating system for hospitals to reduce administrative burden and address overcapacity.
5. Rustech: Localised AI-powered UAV systems for agriculture, rescue, education and public-sector use.
6. Selformy: AI learning platform helping language centres attract students while reducing operational costs.
7. ShieldNet: Smart governance solutions for agencies and real-time scam protection for end-users.
8. Trazen: AI-powered technical training platform addressing Vietnam’s manufacturing talent shortage.
9. Volterra: AI-driven EV charging infrastructure optimisation with renewable energy integration.
10. Welgun BMS: Predictive safety and life-extension platform for energy storage systems and EV batteries.

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When I first entered the startup world, like many others, I was convinced that the holy grail of innovation was Software-as-a-Service (SaaS). The logic was simple: SaaS is scalable, asset-light, and investor-friendly. But experience has taught me that impact—real, tangible change—often comes not from what’s hosted in the cloud, but from what reaches the ground.

In emerging markets like Indonesia, startups that deal with physical products often face more friction—regulatory, logistical, or financial. Yet it is these startups that are bridging the most vital sectors of our time: agriculture and healthcare. They don’t just solve problems; they solve survival.

The overlooked power of physical innovation

Today, food security and public health are no longer siloed issues. They’re deeply interconnected. According to the World Bank, disruptions in agriculture directly undermine nutritional access, increasing the burden on already strained health systems. Meanwhile, the World Health Organisation emphasises the importance of food systems in preventing malnutrition and diet-related illnesses.

In this context, startups that innovate in the overlap between these sectors—what I call the AgriHealth frontier—are not only relevant, they are essential. Imagine IoT-enabled soil sensors that optimise micronutrient delivery in crops, or solar-powered cold chains that transport vaccines and fresh produce to remote areas. These aren’t futuristic dreams—they’re prototypes being tested today.

Why the world still needs physical products

The startup world’s obsession with SaaS has, to some extent, blinded us to the enduring value of hardware and physical goods. But here’s the truth: in many rural regions, digital-only solutions fall flat. Farmers need sensors they can touch, irrigation pumps they can repair, and clinics need mobile diagnostic kits that work offline.

Also Read: Unlocking agritech’s potential: Can Southeast Asia rise to the challenge?

The World Economic Forum highlights that hybrid solutions—integrating digital tools with physical infrastructure—are driving the next wave of social innovation, especially in food and health security. Startups that combine data-driven insights with deployable products are not only viable—they’re resilient.

Startups in the middle

We are seeing a new breed of entrepreneurs emerge. They don’t call themselves “agritech” or “healthtech.” They build solutions where tractors meet tablets, where wearable devices meet water pumps. These are startups that operate at the intersection, the Venn diagram middle, where creativity meets critical need.

And yes, their products are often physical.

The human side of innovation

As a founder, I’ve seen first-hand the trust a community places in something they can see, feel, and use. A farmer may not fully grasp blockchain, but she understands a smart scale that tells her when to harvest. A clinic in a remote area may not be paperless, but it will embrace a low-cost diagnostic device if it saves lives.

Innovation is not just about disruption—it’s about empathy. It’s about meeting people where they are.

In closing: It’s time to rethink what’s “sexy”

Let’s stop thinking SaaS is the only smart choice. Let’s start building what the world actually needs. At the heart of food systems, climate resilience, and health equity lies a quiet truth: physical solutions are not outdated—they’re just underfunded and underestimated.

And in the era of AgriHealth, they may just be our best hope.

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The recent closure of Jiva, a venture that reached over 200,000 farmers and created more than 600 jobs, marked the end of a chapter in agri-venture building in Southeast Asia. While some might view it as just another corporate experiment that didn’t succeed, doing so would overlook its contributions and the lessons it leaves behind.

In today’s environment of constant disruption, stepping back entirely from innovation carries its own risks. The real challenge for corporations is to make their innovation processes more efficient, effective, and resilient—so they can build new businesses that thrive in tomorrow’s markets.

Unlike VC-backed startups such as Crowde or even eFishery, Jiva was a bold corporate-led effort to reimagine how farmers in Southeast and South Asia could access services. It was endowed with resources and talent, an ambitious venture that ultimately cost its corporate sponsor more than US$100m over five years.

And even though it didn’t reach its full potential, Jiva leaves us with important lessons for the next wave of corporate venture building as well as hints of an answer to the question on the minds of every executive: how do we achieve more with less?

What Jiva revealed

Jiva was conceived in a different time: easy money, high-risk appetite, and a preference for growth over validation. As the funding climate shifted, the model came under strain and exposed some important realities:

• Big spending alone isn’t a shortcut. While resources matter, heavy upfront investment and reliance on consultancies can sometimes create distance from the market, making it harder to adapt. While at the same time reduces the ability of institutional investors to justify significant early spend without traction.
• Overhead must match the stage. Large teams and high-cost structures can put too much pressure on ventures that are still finding product-market fit. And, specifically for agriculture, they often miss the fact that real impact is done on the ground and not in an HQ in a country away.
• Subsidies aren’t a long-term solution. Farmers appreciated short-term benefits, but long-term traction only comes from solving real pain points. This is true in every industry, but especially with those dealing with cutthroat competition like agri distribution. In Southeast Asia, rice subsidy programs have shown limited sustainable impact on productivity, prompting calls for more enduring, market-based solutions.

Rather than being a failure, Jiva provided a live stress test for a certain approach to venture building—and showed why a new playbook is needed.

Also Read: The agritech challenge in Indonesia: Can AI and mobile apps enhance productivity?

What the next playbook looks like

If Jiva were launched today, it would likely look quite different. Corporates entering this space can take away some clear principles:

• Start lean, think like startups. Small bets, early proof, and traction as the real validation. A corporate startup should be able to leverage its corporate advantages and leverage it to be as cost-efficient as possible, rivalling a venture in the wild capital efficiency. Spending money in the early days should be around pilots and not decks.
• Choose partners who share the risk. Collaboration works best when incentives are aligned and everyone has skin in the game. Venture Builders partnering with corporations should offer more than slides, and be willing to invest in their work.
• Stay close to the ground. In agriculture, credibility comes from rolling up sleeves and working alongside farmers. More than 80 per cent of Southeast Asia’s farmers are smallholders, operating on less than two hectares. Reaching them requires hyper-local trust, which can’t be built from a distant HQ. Normally, high level personnel is used to managing a large team and not spending time on the ground. 
• Fund with discipline. Stage-gated capital, realistic milestones, and equity structures that drive accountability. PitchBook data shows corporate venture funding fell 35 per cent in 2023 as boards demanded tighter capital discipline. Stage-gated funding mirrors this new normal. Over spending without a view towards profit belongs to the previous era of VC (an era I hope does not come back again), and corporates especially can be more disciplined in how they manage a new business funding.
• Focus on solving pain points. Sustainable models don’t rely on subsidies; they rely on real value creation.

Also Read: Why agritech is the key to Asia’s food security

Why corporates still matter

Despite the challenges, corporations remain uniquely positioned to help tackle agriculture’s biggest issues. Their networks, balance sheets, and deep industry knowledge can give new ventures an edge that startups alone can’t achieve. But that edge only exists if it translates into faster, cheaper, and more effective execution than what a startup could do “in the wild.”

Jiva also showed how that edge can be dulled when overhead grows or distance from the market increases.

The opportunity now is to reset the model: build leaner, partner smarter, and focus relentlessly on genuine farmer impact.

Jiva should be remembered not only as an ending, but as a significant effort that provides valuable lessons for the next era of corporate venture building in agriculture.

Done right, corporations can still play a decisive role in creating ventures that deliver both returns and resilience for the region’s food systems. 

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According to calculations from Our World in Data, the global population grew by 31 per cent between 2000 and 2023, while global rice production increased by 33.7 per cent. Meanwhile, these figures suggest that rice productivity has outpaced population growth over the past 23 years, but they do not guarantee food security by 2050.

A report by the World Resources Institute (WRI) Indonesia indicates that agricultural productivity must increase by at least 100 per cent to meet global food demand by 2050. Without optimisation, food scarcity and hunger could worsen due to uneven distribution, climate challenges, declining agricultural labour, and varying productivity across regions.

For instance, Thailand faces a shrinking young farmer population (ages 15–40), which dropped from 48 per cent in 2013 to 32 per cent of total farmers, alongside severe droughts in areas like Phi Phi Island, Pattaya, and Koh Chang. 

The Philippines struggles with climate volatility, leading to erratic harvests and suboptimal land use. 

Indonesia grapples with small-scale farming dominance, declining generational turnover in agriculture, and poor market access for farmers.

On the other side, according to the graphic above, Southeast Asia leads global rice production, followed by Africa, the Americas, Europe, and Australia. Countries like Vietnam, Thailand, and Cambodia are key exporters, making regional production stability critical for domestic and international supply chains.

However, achieving global food security requires tailored solutions for each region. Technological adaptation and not just adoption is basically the key to reaching the ultimate goal, that is food security.

The role of localised agritech in boosting productivity and distribution

Farming tech is getting smarter, but for many Indonesian farmers, it’s still out of reach.

The problem is not that they do not want it; it’s that the price tag can be jaw-dropping. FlyeEye, for instance, says a sprayer drone costs around US$18,000–22,000 (IDR 290–350 million), while a crop-monitoring drone is about US$13,000–15,000 (IDR 211–244 million).

Also Read: Why agritech startups will call for the next e-commerce revolution

With costs like these, smallholders are often locked out of the tech revolution. Many still rely on traditional methods such as planting, watering, and harvesting in ways that can be time-consuming, less efficient, and harder to sustain in the long run

This is why the real conversation shouldn’t just be about which technology to use, but how to make it accessible and relevant. For example:

• Precision farming: Instead of pricey sensor networks, farmers can use smartphone-based mapping apps, shared sensors, or low-cost soil test kits.
• Smart irrigation: Full IoT setups are great, but smaller options like solar pumps, moisture controllers, or community-managed systems are more realistic.
• Digital marketplaces: Fancy apps work best when paired with simple solutions like SMS ordering, e-vouchers, or local aggregation points.
• Post-harvest tech: Community cold rooms, pay-per-use storage, or solar dryers can do a lot without the massive upfront cost.

The key is finding the right mix of tech, financing models, and local know-how, whether that’s renting equipment, joining a cooperative, or paying only when you use the service. After all, one size doesn’t fit farms; what works for a Sumatra rice farmer won’t necessarily suit a Thai sugarcane grower or a Filipino coconut producer.

With 62 per cent of Indonesia’s farmers operating at a small-scale level, we face a significant structural challenge in agricultural development. These smallholder farmers typically focus on immediate, short-term gains and use harvest income primarily for daily subsistence rather than reinvesting in future production cycles. This subsistence mindset creates a critical barrier to developing sustainable farming businesses.

To address this challenge, comprehensive intervention programs are needed. Reliable institutions including agribusinesses, startups, and vocational training centers, must take an active role in providing ongoing mentorship, promoting sustainable business practices, enhancing financial literacy, and teaching business scalability principles.

These efforts are crucial because many smallholder farmers currently lack understanding of long-term investment returns, less knowledge of business growth strategies, and minimal access to financial management tools.

Also Read: Revitalising Indonesian agriculture: Unlocking potential through practical technology innovation

By implementing these educational initiatives, we can help transition subsistence farming into viable, growth-oriented agricultural enterprises.

On the distribution front, supply chains play a critical role in ensuring agricultural products reach people’s tables. In line with the SDGs’ goal to strengthen food security, it is equally important to ensure that distribution processes are efficient. In a geographically complex country like Indonesia, which consists of thousands of islands, distribution presents a major challenge. 

Even established agri-e-commerce platforms such as Sayurbox and Segari currently operate only in select cities and have yet to reach the broader Indonesian market, largely due to geographic barriers. Additionally, the high costs of maintaining production facilities, warehouses, and delivery systems often push these platforms to focus only on cities with stronger purchasing power, where the returns justify the budget and effort. Expanding into smaller cities would make the costs disproportionate to the potential gains.

This situation highlights the urgent need for more localised platforms to emerge across different regions to bridge the gap. 

Moreover, this gap highlights the critical need for investment to support small-scale farmers, improve productivity, and ensure long-term agricultural sustainability.

Investor’s role: Social and economic impact

Investors like impact funds, angel investors, and VCs can drive scalable agri-tech solutions with dual benefits:

Social impact

• Strengthens local food resilience and reduces import dependency.
• Attracts youth to farming through tech-driven opportunities (e.g., drones, AI).
• Boosts rural economies via digital literacy and job creation.

Economic impact

• Taps into underserved smallholder markets with high ROI potential.
• Streamlines supply chains, increasing margins for farmers and startups.
• Enables regional scaling across SEA due to shared agricultural challenges.

On the other hand, to have a good risk mitigation system for investors there has to be something like conducting rigorous due diligence, including on-site visits to verify operations. Then, monitor farmer-business partnerships and audit financial health via third parties. After that, acknowledge seasonal fluctuations and profitability isn’t always linear.

Preparing for 2050 is not only about higher yields but it is about smarter farming and fairer distribution. Southeast Asia doesn’t need imported fixes; it needs homegrown innovations built by those who understand its fields, weather, and markets.

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Thailand’s agricultural struggles ripple far beyond its borders. As global rice prices surge 47 per cent following climate disruptions and geopolitical instability from the Ukraine conflict, Thailand’s productivity stagnation carries implications beyond domestic food security. The kingdom’s 3.1 tons per hectare yield represents lost export revenue of approximately US$2.3 billion annually compared to Vietnam’s efficiency rates, according to commodity trading data.

This productivity gap undermines Thailand’s position as the world’s third-largest rice exporter at a critical moment when global food systems face unprecedented strain. While competitors like Vietnam achieve 5.8 tons per hectare through targeted agritech investments, Thailand’s billion-dollar Smart Farmer program has delivered minimal returns — a cautionary tale as global agricultural investment climbs to 43 billion annually.

The paradox of connected farming

Farmers like Somchai Thanakit, a third-generation rice farmer in Thailand’s Pathum Thani province, embody the paradox facing countless smallholders caught between the promises and pitfalls of digital farming. He owns a smartphone worth more than his monthly income.

Through government programs and private partnerships—most notably Kasetsart University’s SMART Platform—his 2.3-hectare plot has been introduced to ‘smart’ tools: soil sensors measuring moisture, satellite imagery used to track crop health, and mobile apps providing weather and market updates.

Yet Thanakit’s yields have stagnated at 3.2 tons per hectare for three consecutive seasons—well below the 5.5-ton national target and far from Vietnam’s average of 5.8 tons per hectare, according to FAO statistics.

“I get so many notifications, I don’t know which ones to trust,” says Thanakit, echoing a sentiment heard across Asia’s rice bowls. “My father knew when to plant by watching the sky. Now I have five apps telling me different things.”

This disconnect between digital promise and agricultural reality represents a broader crisis in Asia’s approach to agricultural modernization.

The scale of misalignment

Since 2010, ASEAN countries have invested approximately US$180 billion in agricultural modernisation initiatives, including digital infrastructure, according to the Asian Development Bank’s agricultural investment database.

Since 2017, Thailand has channeled an estimated US$12 billion into transforming its agricultural sector, a cornerstone of the nation’s ‘Thailand 4.0’ strategy. A significant portion of this investment has been directed towards government-led initiatives, most notably the ‘Smart Farmer’ program.

Also Read: Indonesia’s agritech landscape: Keys to building a scalable agriculture startup

Despite this investment, productivity gains remain modest. Thailand’s agricultural Total Factor Productivity (TFP) grew just 0.8 per cent annually between 2015-2023, according to World Bank data—insufficient to meet the 2.1 per cent growth needed to ensure food security for Asia’s growing population by 2050, as outlined in the International Rice Research Institute’s latest projections.

The problem is particularly acute among smallholders, who represent 80 per cent of Asia’s 200 million farm households but receive less than 15 per cent of agritech investment, according to McKinsey’s 2023 agriculture report.

Thailand’s digital divide

Thailand exemplifies both the promise and the shortcomings of agricultural digitalisation. As the world’s third-largest rice exporter and the global leader in durian exports, the kingdom also holds dominant positions in rubber, cassava, and tropical fruit markets. Its agricultural sector employs 32 per cent of the workforce and contributes 8.2 per cent to GDP.

Yet productivity lags. Thai rice yields average 3.1 tons per hectare compared to China’s 6.7 tons and Vietnam’s 5.8 tons, according to FAOSTAT 2023 data. Post-harvest losses in fruits exceed 30 per cent, and 40 per cent of smallholder farmers remain without access to formal extension services, according to Thailand’s Ministry of Agriculture and Cooperatives.

The government’s response has been to digitalise. The Smart Farmer program, launched in 2017, aims to connect 2.8 million farmers through mobile platforms providing weather data, market prices, and agricultural advice. To date, 1.2 million farmers have registered, but active usage remains below 25 per cent, according to program data obtained through freedom of information requests.

The design problem

The core issue isn’t technological but anthropological. Most agritech platforms are designed by urban engineers for farmers they’ve never met, creating tools that are technically sophisticated but practically useless. This is starkly evident in Thailand’s own flagship digital initiatives.

For example, the government’s Smart Farmer program provides a platform with weather data and market prices, yet less than 25 per cent of its 1.2 million registered users are active. The reason is not a lack of technology, but a failure of design.

Farmers like Thanakit are left overwhelmed by multiple, often conflicting, notifications rather than being empowered with clear, actionable advice. The platforms create information overload instead of solving problems. It exemplifies a challenge common across the sector: building digital ‘Ferraris’ for farmers who simply need reliable ‘bicycles’ to address their immediate, practical needs.

Algorithmic dependency

The digitalisation push has created new vulnerabilities. When severe flooding disrupted internet connectivity across central Thailand in October 2023, thousands of farmers lost access to planting schedules and irrigation controls managed through cloud-based systems.

This highlights what agricultural economists call “algorithmic dependency”—the gradual erosion of traditional farming knowledge as decisions migrate to digital platforms. A 2023 study by Kasetsart University found that farmers using automated irrigation systems for more than three years showed decreased ability to manually assess soil moisture compared to control groups

This creates a fundamental paradox: digital tools designed to enhance productivity may actually undermine the agricultural autonomy and traditional expertise that enable farmers to adapt to changing conditions

The challenge extends beyond simple technology adoption to questions of whether sustainable productivity gains can coexist with the preservation of essential farming skills “We’re creating digital sharecroppers,” warns Dr. Nipon Poapongsakorn, a agricultural economist at the Thailand Development Research Institute. “Farmers become dependent on platforms they don’t control, using algorithms they don’t understand.”

Promising alternatives

Some startups are pursuing different approaches. Bangkok Silicon, a Thai agritech startup founded in 2021, has completed development of voice-based solutions in local dialects and is preparing for distribution to farmers across Thailand. Their AI assistant “BKS Agrichat, tentatively called “Kruu Naa”,” trained through extensive field research with farming families across dozens of provinces. It provides simple binary recommendations rather than complex data dashboards.

Also Read: How Southeast Asia’s agritech startups are turning smallholder farms into high-tech powerhouses

Similarly, India’s CropIn has developed “contextual intelligence” systems that consider local farming practices, weather patterns, and cultural preferences.

Policy recommendations

Addressing agricultural digitalisation’s failures requires systemic changes:

• Farmer-centred design: Mandate user research with actual farmers before deploying digital tools. The Thai government should establish design standards requiring extensive field testing with target users.
• Local data sovereignty: Critical agricultural data should be stored and processed within national borders. Thailand’s proposed Personal Data Protection Act should include specific provisions for agricultural data.
• Integration over innovation: Rather than launching new platforms, focus on integrating existing tools with established systems like cooperatives, banks, and extension services.
• Digital literacy investment: Expand rural digital education beyond basic smartphone use to include critical evaluation of digital information—essential as farmers navigate competing recommendations.

The path forward

Agricultural digitalisation isn’t inherently flawed, but its current trajectory serves technology companies more than farmers. Success requires shifting from technology-push to demand-pull innovation, prioritising farmer autonomy over data collection.

Thailand, with its strong agricultural base and growing tech sector, is well-positioned to lead this transition. But it must abandon the assumption that more technology automatically means better farming.

The goal shouldn’t be to make farmers more digital, but to make digital tools more agricultural. Only then can Asia’s agricultural revolution move from the conference room to the rice field.

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We’ve witnessed firsthand how a new generation of entrepreneurs in Southeast Asia (SEA) is redefining success. Growth is no longer measured solely by speed or scale, but by the depth of impact. The shift from asking ‘How fast can it scale?’ to ‘How meaningful is its contribution?’ is a growing debate in Southeast Asia, one that is increasingly shaping how entrepreneurs, investors, and policymakers define success.

Across the region, impact-oriented investors are increasingly adopting a ‘Theory of Change’ approach that channels capital toward technology solutions addressing Southeast Asia’s most pressing challenges. At TNB Aura, this lens guides much of our investment activity. Based on our 2024 Impact Report, our largest investment sectors are 37 per cent consumer and retail/e-commerce, 23 per cent agritech, 13 per cent edutech, and 12 per cent healthtech, reflecting the areas where technology is delivering the most meaningful and measurable impact.

Consumer and retail: Breaking access barriers

Across SEA, millions living outside Tier 1 cities face limited access to basic goods and services. Infrastructure gaps mean essentials cost more and are harder to find, leaving underserved communities at a disadvantage.

Without innovation, this inequality would persist. Super is changing that through its social commerce group-buy model, which aggregates community demand to lower prices and improve distribution. In 2024, Super engaged more than 40,000 active agents coordinating group buying and end consumers who purchased directly from the platform. By reimagining last-mile access, Super has enabled goods that were once out of reach to become part of everyday life for households in remote areas.

Agritech: Building resilient food systems

Millions of small-scale farmers form the backbone of SEA’s food supply, yet most remain trapped by systemic inefficiencies. Left unaddressed, these challenges would continue to depress productivity and incomes.

In agritech, new digital platforms are flipping this reality, creating market access and supply chain efficiencies. TNB Aura’s portfolio companies, such as Eratani and Techcoop, are among those helping farmers secure fairer prices and more sustainable practices. In 2024, Techcoop improved the livelihoods of 233,250 farmers through expanded market access and input financing. Collectively, our portfolio has supported 209,000 small-scale enterprises, many of them farmers now participating in more equitable and efficient food systems.

Also Read: Built for all or built to fail? Why tech for social impact must start with inclusion

Edutech: Expanding quality learning

For students across SEA, geography and cost have long dictated educational opportunity. The challenge is not just about access, but about the quality of education available to students from diverse socioeconomic backgrounds. Without intervention, this gap would only widen with each generation.

Edutech innovators across the region are tackling this challenge head-on. One example is VUIHOC, which delivers affordable online learning to underserved students in Vietnam. Its dual-teacher live-streamed classes reach nearly 2,000 students at once, while its AI-powered platform personalises learning and provides an extensive library of resources to over a million more each year, demonstrating how tech can fundamentally transform a country’s educational landscape.

Healthtech: Closing the care gap

Healthcare inequality is one of SEA’s starkest divides. Rural and remote communities often lack access to even the most basic consultations, forcing patients to travel long distances or go untreated.

Technology has emerged as one of the most powerful tools for democratising healthcare in Southeast Asia. Our portfolio includes companies like Ora, which leverage digital platforms to expand access, offering affordable, timely medical consultations and delivering essential supplies that would otherwise remain out of reach. Ora delivered 63,750 online consultations in 2024.

Also Read: Why investors are betting big on Asia’s social impact startups

A deliberate and data-driven approach to impact

These individual successes point to a broader, deliberate trend: investments in the region are increasingly aligned with both financial value creation and measurable impact. Looking ahead, investors are doubling down on development-eligible countries and climate resilience, with many, including TNB Aura, allocating significant capital to these priorities.

We challenge the traditional view that impact investing is a concession. Instead, we see it as the most strategic and sustainable way to build category-defining businesses in the region. By focusing on the sectors that truly matter and by backing the founders who are solving real problems, we are not just investing in companies; we are investing in a better future for Southeast Asia.

This article was co-authored by Amanda Nway Htwe, Corporate Development and Sustainability Manager at TNB Aura, and Jessie Cruz, Value Creation Analyst at TNB Aura.

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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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Southeast Asia’s cybersecurity ecosystem is rapidly gaining momentum, driven by rising digital adoption, expanding attack surfaces, and growing demand for stronger cyber resilience across industries.

From incident response and threat intelligence to fraud prevention, identity security, and zero-trust infrastructure, a new wave of startups is stepping up to address the region’s evolving security challenges.

Also Read: How cybersecurity crises are redefining corporate accountability

The following companies represent some of the region’s promising and fast-growing players, building cutting-edge solutions to protect enterprises, governments, and consumers in an increasingly high-stakes digital landscape.

1. Blackpanda

 

2. CYFIRMA

 

3. Secuna

 

4. Peris.ai

 

5. Scantist

 

6. Riskimmune

 

7. Horangi Cyber Security

 

8. InsiderSecurity

 

9. Swarmnetics

 

10. Heron Cybersecurity

 

11. i-Sprint Innovations

 

12. Forter

 

13. SecurityBox

 

14. Flexxon

 

15. TurisVPN

 

16. SecureMetric

 

17. ArmourZero

 

18. watchTowr

 

19. SafeSync

 

20. Fazpass

 

21. Shield

 

22. Finema

 

23. SILENT EIGHT

 

24. Tookitaki

 

25. Microsec

 

The image was generated using AI

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Singapore businesses are moving quickly in AI adoption, but growing data complexity and cybersecurity concerns could limit long-term returns, according to new research from Hitachi Vantara.

The data storage, infrastructure and hybrid cloud management subsidiary of Hitachi Ltd. released its findings in the Hitachi Vantara State of Data Infrastructure 2025 Report, a global study examining how organisations are preparing their data environments to support AI at scale.

The report is based on a survey of more than 1,200 C-level executives and senior IT leaders across 15 markets worldwide. The Asia and Oceania sample included 425 respondents, with 51 senior leaders surveyed in Singapore.

The findings suggest that while Singapore enterprises are among the most active adopters of AI in the region, many remain uncertain about their ability to sustain business value as deployments expand.

High AI usage, but uneven confidence in long-term ROI

Nearly all Singapore respondents (96 per cent) reported some level of AI use, highlighting strong momentum in AI adoption across industries.

Also Read: Travel is back, and it’s more cutthroat than ever

Two-thirds (66 per cent) said their organisations have already seen success using AI, reflecting early gains from automation, analytics and emerging AI-driven decision-making tools.

However, confidence declines when it comes to sustained returns. Only 23 per cent of Singapore leaders rated their organisation as having strong, industry-leading readiness to achieve long-term ROI from AI.

This gap points to a growing disconnect between deploying AI systems and building the operational foundations needed to support them at scale.

Hitachi Vantara’s research found that as AI workloads increase, data infrastructure challenges are shifting from technical concerns to strategic risks. Many organisations are struggling with fragmented data environments, which can weaken governance, visibility and resilience.

Among Singapore respondents, 52 per cent said data complexity makes it more difficult to detect a security breach, reinforcing the link between infrastructure sprawl and cyber risk.

In addition, 64 per cent agreed that if leadership fully understood how fragile their data infrastructure is, it would “keep them up at night,” highlighting a potential gap between technical experts and executive decision-makers.

The findings suggest that AI adoption alone does not resolve underlying data management weaknesses and may expose them further as systems become more interconnected and mission-critical.

Singapore enterprises taking a more risk-aware approach

Despite these challenges, Hitachi Vantara noted that Singapore firms are demonstrating a more disciplined approach to AI adoption compared with earlier phases of experimentation.

Also Read: Low liquidity, high stakes: Why this crypto pullback feels different

As AI becomes embedded in business operations, enterprises are placing greater emphasis on governance, security and reliability, particularly as AI tools begin to influence high-stakes decisions.

“AI success is no longer about experimentation alone. It depends on whether data environments are resilient, governed and trusted,” said Joe Ong, vice president and general manager for ASEAN at Hitachi Vantara.

“Singapore businesses are clearly ahead in adoption, but the next phase will be defined by how well they manage complexity, security and performance as AI scales,” he added.

The report concludes that while AI adoption in Singapore is widespread and early success is common, rising data complexity and security risks could undermine confidence and returns if left unaddressed.

As AI investment accelerates, organisations will need to simplify data environments, strengthen governance frameworks and improve infrastructure visibility to move from early wins to sustained value creation.

The ability to build trusted and resilient data foundations may ultimately determine which enterprises can fully capitalise on AI adoption in the years ahead.

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The lead image in this article was generated by AI.

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