Indian startup founders seen to mentor younger counterparts in Southeast Asia
A Singapore-led tech platform is likely to be on the anvil for startups from India and the city state to serve across the ASEAN region as well as exploit the potential of providing solutions to the rest of the world as technologists explore opportunities in advanced technologies starting with startupindia .
This was stated at a public forum on ‘India and Singapore: Partners in Technology and Digitalisation”. It was organized by Indian and Singapore think tanks as well as Confederation Indian Industry (CII) on 8 Aug isas . The forum was held after two-day 15th India-Singapore Strategic Dialogue (ISSD) globalstartups .
“We would like to create a platform for startup founders in India to mentor younger counterparts in ASEAN and share their business experiences,” Professor Lim Sun Sun of Singapore Management University, told the forum.
The Indian startups share their contacts and networks to help these emerging startups in the prosperous Southeast Asian markets to better understand their innovations, she said startupsg .
“Unicorns in India could expand their operations across ASEAN markets of 600+ million people,” says Professor Lim, underscoring the need to mentor young startups in Southeast Asia startupstash .
“We can look at opportunities in Indonesia, and we can look for greater specific areas of innovation such as digitalization indiatech ,” elaborated Ambassador Ong Keng Yong, Co-Chair of the 15th ISSD while being specific to a single and largest market in the 10-member ASEAN mfa.gov.sg/ .
“We need to capitalize on this,” said Ong, referring to potential of the ASEAN markets rsis.edu.sg/ .
Ong, who led the Singapore delegation at the annual Dialogue and had chaired the forum, underlined the close working relations between the two countries, given the flourishing businesses and the large-scale financial transactions taking place from Singapore to India switchsg .
Businesses from both countries are already actively involved in various sectors such as satellites, said Ong, pointing out that the just concluded dialogue had a very broad focus to get a sense in the area of interests and “what kind of follow up we can pursue”. This time the focus was on technology and digitalisation bmz-digital.global/en/ .
“I believe that the opportunities for Indian and ASEAN startups is to use the two markets to scale up,” added Rajan Navani, Co-chair of the 15 ISSD and chairman of the Ananta Aspen Centre, a non-partisan, non-profit organization, that focuses on value-based leadership development and open dialogue on important issues facing Indian society, to help foster its transformation.
“I truly believe that the potential for the two billion population of the two markets to solve problems and create solutions can be extended to create solutions for global enterprises across the rest of the world,” said Navani, who led the Indian delegations at the annual dialogue.
The Chairman and Managing Director of JetSynthesys said the Indian and ASEAN governments need to focus efforts on investing in eco-systems that support the startups and also provide tremendous amounts of capabilities addition.
The startups were getting good fundings these days and a lot can be achieved by providing Indian capital and market access to ASEAN startups techsposingapore , he added.
Navani pointed out that the recent Union Budget had abolished Angle Tax and announced to bring long-term capital gains in unlisted securities down from 20% to 12.5% … these are all going to enhance domestic capital coming into startups and scale up.
“India has a very vibrant eco-systems working with startups across different sectors and Singapore has got a significant amount of capital funding and financial capabilities – the marriage of both these can provide great solutions,” noted Nihal Chauhan, Non-Resident Fellow, Observer Research Foundation, America.
“ASEAN is such a young population looking for solutions and India has significant complementarity on that smarttechasia ,” he pointed out. Fiinews.com
