{"id":4362,"date":"2023-04-18T20:00:34","date_gmt":"2023-04-18T13:00:34","guid":{"rendered":"https:\/\/itifund.com\/?p=4362"},"modified":"2023-04-28T11:13:23","modified_gmt":"2023-04-28T04:13:23","slug":"some-of-potentials-and-notices-when-startup-want-to-expand-in-southeast-asia-part-1","status":"publish","type":"post","link":"https:\/\/itifund.com\/en\/some-of-potentials-and-notices-when-startup-want-to-expand-in-southeast-asia-part-1\/","title":{"rendered":"Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 1)"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><strong>The Potentials of the Southeast Asian Market<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Despite the world&#8217;s economic recession in 2023, Southeast Asia is considered a potential area for startups to expand; there are reasons:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Large market size (680 million people) with an expected growth rate of <span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/vtv.vn\/kinh-te\/bo-truong-nguyen-chi-dung-can-mot-moi-truong-dau-tu-khoi-nghiep-sang-tao-thuc-chat-20221219122317194.htm\">4-5 % per year<\/a><\/span>. (*)<\/span><\/li>\n<li style=\"text-align: justify;\">The total value of goods in the digital economy is expected to reach <span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/mof.gov.vn\/webcenter\/portal\/ttbt\/pages_r\/l\/tin-bo-tai-chinh?dDocName=MOFUCM254235\">$200 billion<\/a><\/span> by 2022, three years earlier than previous predictions. (**)<\/li>\n<li style=\"text-align: justify;\">Strong\u00a0 Internet growth with 20 million new users by 2022, reaching <span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/mof.gov.vn\/webcenter\/portal\/ttbt\/pages_r\/l\/tin-bo-tai-chinh?dDocName=MOFUCM254235\">460 million<\/a><\/span>. (**)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In addition, attending trade agreements will allow Southeast Asia to reach out to Asia, Europe, and North America. The Regional Comprehensive Economic Partnership (RCEP) comes into force, along with the investment facilitation mechanisms and policies recently signed by ASEAN, which are expected to help promote more sustainable FDI in the medium and long term.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In particular, Vietnam is a <span style=\"text-decoration: underline;\"><span style=\"color: #0000ff; text-decoration: underline;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/itifund.com\/toan-canh-thi-truong-dau-tu-khoi-nghiep-viet-2022-va-xu-huong-2023\/\">rising star<\/a><\/span><\/span> (Cento Ventures and ESP Capital) and owns the 3rd most dynamic economy in ASEAN, after Singapore and Indonesia, with political stability, a qualified young workforce, infrastructure, digitalization, innovation, and government support.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4298\" src=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/sky-mavis-axie-infinitypng-800x451-1202-300x169.jpg\" alt=\"ITI Fund - Sky Mavis l\u00e0 startup k\u1ef3 l\u00e2n th\u1ee9 4 t\u1ea1i Vi\u1ec7t Nam - \u0111\u1ee9ng th\u1ee9 3 \u0110\u00f4ng Nam \u00c1 v\u1ec1 s\u1ed1 l\u01b0\u1ee3ng startup k\u1ef3 l\u00e2n (n\u0103m 2022)\" width=\"589\" height=\"332\" srcset=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/sky-mavis-axie-infinitypng-800x451-1202-300x169.jpg 300w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/sky-mavis-axie-infinitypng-800x451-1202-768x433.jpg 768w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/sky-mavis-axie-infinitypng-800x451-1202.jpg 800w\" sizes=\"(max-width: 589px) 100vw, 589px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 14px;\"><i><span style=\"font-weight: 400;\">Sky Mavis &#8211; Vietnamese&#8217;s 4th tech unicorn<\/span><\/i><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/itifund.com\/en\/\">Venture capital<\/a><\/span> (VC) plays a vital role in this development by startups incubating and accelerating programs. In addition to pumping, VCs also support knowledge, operational activities, and commercial production, contributing to startups reaching international markets and raising Vietnam&#8217;s innovative startup ecosystem more exciting, attractive, and quality.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><strong>Notices when startups want to expand the market in Southeast Asia<\/strong><\/h2>\n<h3 style=\"text-align: justify;\"><strong>Research the local market<\/strong><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Southeast Asia is a rich and typical cultural history as Indonesia, Thailand, Vietnam, Philippines, and Malaysia&#8230; have unique cultural, landscape, economic, and highly diverse politics. Therefore, carefully researching the local market before entering is essential for startups.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Understanding the demographics, environment, regulatory, and competitive landscape of Southeast Asian countries will help startups identify potential challenges and opportunities. There are some ways:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Depth discussion with local experts about the domestic market potentiality.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gather the latest quality research and government information updates.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Explore domestic customer insights through group interviews.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Study the point market legal.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><strong>Expand the partner network in the point market<\/strong><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Partners include suppliers, distributors, related organizations, or even customers. Building and expanding a network can help businesses gain a deeper understanding of the market, identify opportunities, and overcome challenges.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To connect with these partners, there are following ways:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Actively monitor and participate in regional networking events<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Be a member of local business associations or organizations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Update information and directly contact potential partners\u00a0<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4247\" src=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/Screen-Shot-2021-07-23-at-9-55-9354-9319-1628241842-300x154.png\" alt=\"Tri\u1ec3n l\u00e3m Qu\u1ed1c t\u1ebf N\u00f4ng nghi\u1ec7p Vi\u1ec7t Nam n\u0103m 2022 do VnExpress ph\u1ed1i h\u1ee3p Argitrade t\u1ed5 ch\u1ee9c thu h\u00fat 1.200 doanh nghi\u1ec7p t\u1edbi t\u1eeb h\u01a1n 30 qu\u1ed1c gia, v\u1edbi m\u1ee5c \u0111\u00edch k\u1ebft n\u1ed1i c\u00e1c \u0111\u01a1n v\u1ecb trong to\u00e0n b\u1ed9 chu\u1ed7i cung \u1ee9ng n\u00f4ng nghi\u1ec7p.\u00a0\" width=\"565\" height=\"290\" srcset=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/Screen-Shot-2021-07-23-at-9-55-9354-9319-1628241842-300x154.png 300w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/Screen-Shot-2021-07-23-at-9-55-9354-9319-1628241842.png 680w\" sizes=\"(max-width: 565px) 100vw, 565px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 14px;\"><i><span style=\"font-weight: 400;\">Vietnam International Agriculture Expo &#8211; Online Fair organized by VnExpress with 1,200 businesses from more than 30 countries<\/span><\/i><\/span><\/p>\n<h4><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2173 aligncenter\" src=\"http:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-300x207.png\" sizes=\"(max-width: 633px) 100vw, 633px\" srcset=\"https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-300x207.png 300w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-1024x708.png 1024w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-768x531.png 768w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-1536x1061.png 1536w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-2048x1415.png 2048w\" alt=\"ITI Fund_Information\" width=\"633\" height=\"437\" data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\" \/><\/h4>\n<h4 data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><span data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\">Contact:<\/span><\/h4>\n<ul>\n<li aria-level=\"1\" data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f30f.svg\" alt=\"\ud83c\udf0f\" \/><a href=\"https:\/\/itifund.com\/\">\u00a0<span data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\">itifund.com<\/span><\/a><\/li>\n<li aria-level=\"1\" data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><span data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f4de.svg\" alt=\"\ud83d\udcde\" \/>\u00a0(+84)90 998 3699<\/span><\/li>\n<li aria-level=\"1\" data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><span data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f4e9.svg\" alt=\"\ud83d\udce9\" \/>\u00a0info@itifund.com<\/span><\/li>\n<li aria-level=\"1\" data-wpmeteor-mouseover=\"true\" data-wpmeteor-mouseout=\"true\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f514.svg\" alt=\"\ud83d\udd14\" \/><a href=\"http:\/\/fb.me\/ITIFund\">\u00a0fb.me\/ITIFund<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Potentials of the Southeast Asian Market Despite the world&#8217;s economic recession in 2023, Southeast Asia is considered a potential area for startups to expand; there are reasons: Large market size (680 million people) with an expected growth rate of 4-5 % per year. (*) The total value of goods in the digital economy is &#8230; <a title=\"Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 1)\" class=\"read-more\" href=\"https:\/\/itifund.com\/en\/some-of-potentials-and-notices-when-startup-want-to-expand-in-southeast-asia-part-1\/\" aria-label=\"More on Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 1)\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":4345,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[17,40,189,190,191],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 1)<\/title>\n<meta name=\"description\" content=\"Trends\" \/>\n<meta name=\"robots\" content=\"index, follow, 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