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Hello readers,
“Take an umbrella, it’ll rain today,” my grandma would say on the sunniest of days. And she was usually right. Her knees would “sing” on rainy days, the ache heralding heavy showers long before the skies became dark. I only paid heed to her warnings if they were backed by official weather forecasts.
A professional opinion carries a ton of weight, adding legitimacy to a lay person’s divinations. That’s why when Asia Partners’ Nick Nash said that a substantial homegrown enterprise software industry would likely develop in Singapore, a bunch of us had our heads nodding.
Today’s premium article looks at a recent report by Asia Partners that talks about the city-state emerging as a commercial hub for the continent, and how Southeast Asia is entering a golden age of rising affluence. While talking about this report at the Tech in Asia conference, Nash also listed out some overarching trends to watch out for.
Today we look at,
- 3 predictions by Asia Partners’ Nick Nash on SEA’s startup ecosystem
- How one partnership symbolizes 2,000 reasons for foodies to celebrate
- Other newsy highlights such as Ola hiring 10,000 people for its used-car platform, and a Hong Kong crypto firm building its war chest
Premium summary
The art of crystal gazing
Image credit: Timmy Loen
I’ve spent donkey’s years working on reports on different sectors, and I have friends who continue to drown in document after document, trying to find incisive predictions for the future.
And this is why I have special respect for those who pull off the mammoth task of putting together a record of dependable forecasts. Here are the key takeaways from Asia Partners’ report:
- Behavioral economics: According to Asia Partners, Southeast Asian countries will see an increase in subscription-based purchases over item-based buys at a higher level of affluence than they are at today. The implications of this change in consumer behavior are tremendous for businesses like Netflix.
- More IPOs all around: Yes, you read that right. Asia Partners also noted that there are six companies especially to watch out for in Southeast Asia, including hotel booking and management firm RedDoorz, used-car platform Carsome, business-to-business marketplace GudangAda, on-demand tutoring app Snapask, ecommerce enabler SCI Ecommerce, and healthcare startup Doctor Anywhere. Asia Partners is an investor in all six.
- Looking at you, Vietnam: Vietnam is now second only to Singapore in sending undergraduates to the US for higher studies. Previously, many Asians who pursued graduate studies in the US returned to their home countries with fresh perspectives and are now startup founders, which is why Vietnam’s next generation of students following this path makes for an exciting story in itself.
Read more: 3 predictions by Asia Partners’ Nick Nash on SEA’s startup ecosystem
Startup spotlight
A food storm coming your way
Cloud infrastructure: The foundation of digital success
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