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7 - Entrepreneurial Ecosystems and Unicorns in Southeast Asia

Published online by Cambridge University Press:  05 December 2025

By
John R. McIntyre  and
James Hoadley
Edited by
Veneta Andonova ,
Diego Finchelstein  and
Juana García Duque
Veneta Andonova
Affiliation:
Universidad de los Andes, Colombia
Diego Finchelstein
Affiliation:
Universidad de San Andrés (Argentina)
Juana García Duque
Affiliation:
Universidad de los Andes, Colombia
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Summary

This chapter examines the factors which influence the entrepreneurial ecosystems in member countries of the Association of Southeast Asian Nations (ASEAN). We present four stylised case studies of successful entrepreneurship featuring Asian unicorns: Bitkub, PrimaKu, Bolttech and Maya. The entrepreneurial ecosystem in Singapore is vibrant, with a growing number of start-ups and venture capital funding sources. Indonesia is seen as the home of somewhat surprisingly successful ventures, whereas the entrepreneurial ecosystems of Thailand and the Philippines are still at an earlier stage of development. The region’s entrepreneurial climate has been continuously improving, facilitating the emergence of more start-ups and a more supportive ecosystem. ASEAN economies embrace digital technologies and leverage them for economic and social advancement. E-commerce businesses in ASEAN have significant growth potential.

Keywords

entrepreneurial ecosystemsSoutheast Asiastart-upsgovernment policyunicornsventure capitaldigital economySingaporeIndonesiae-commerce

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Type
Chapter
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Unicorns from Emerging Economies
Creating Value through Technology and Innovation
 , pp. 172 - 200
Publisher: Cambridge University Press
Print publication year: 2026

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