Wing Vasiksiri), General Partner of WV), and Jeremy Au) discussed three main points:
Thailand Strong Economics Macros: Wing shared how Thailand ranks 2nd in GDP ($495B USD), 3rd in GDP per capita ($6900 USD) and 4th in population (72M) among the ASEAN-6 nations. Highly educated, robust household internet connectivity (90%) and strong daily usage of the internet (9h).
Historical Startup Ecosystem Underperformance: Despite economic strengths and fundamentals, Thailand is ranked last among the ASEAN-6 with only 180 funded startups (Singapore 1780, Indonesia 860, Vietnam 340, Malaysia 280, Philippines 185). Wing discusses key factors including entrepreneurship culture, limited risk capital, corporate-centricity of VC, language, startup talent flywheel, and lack of prior government support for innovation.
Why The Time is Now: Wing expressed optimism about the future of Thailand's startup ecosystem, citing positive changes driven by government funding initiatives, cultural shift towards entrepreneurship, strong stock exchange allowing for domestic listings, They also discussed other potential improvements that individual, corporates and policy-makers can choose to make.
Wing and Jeremy also talked about the impact of corporates on the economy, inequality's influence on startups, and Thailand's stock market’s unique liquidity paths for startup exits.
Watch, listen or read the full insight at https://www.bravesea.com/blog/thailand-bcg-report)
Get transcripts, startup resources & community discussions at www.bravesea.com)
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