When Singapore startups are looking to expand overseas, the go-to destination has always been its backyard in South-east Asia. But with the market maturing and competition for top talent intensifying, this reflex strategy requires a rethink. Places such as Hanoi and Jakarta are maturing rapidly and have attracted significant venture capital funding. This means latecomers will find themselves left with a very thin slice of the pie. Startups need to look for greener pastures urgently, and Central Asia is a good landing point, with the right conditions to develop a startup ecosystem.
Hear from Mr James Tan, managing partner of Quest Ventures, a Singapore-based venture capital firm, on why his company is taking the leap into Kazakhstan.