Session 2: Southeast Asia in 2020 – key factors for business to consider - Human capital and start up innovation focus

The second panel joining us today around the topic of future of business in Southeast Asia is Ms. Lisa Enckell and Mr. Andreas Ehn, Angel Investors and Consultants, Mr. Dusan Stojanovic, Founder and Director of True Global Ventures and Mr. Markus Boehme, Managing Director of Accenture Singapore.

The three share their view on the innovation and startup scenes across Southeast Asia and where it is heading. Ms. Enckell and Mr. Ehn, originally from Sweden are planning to spend the next 5 years traveling, working and collaborating with both investors and tech startups around the world. They’ve already established a network of connections with Venture Capitalists and startups in both Singapore and Indonesia and their impression is that the startup communities in these markets are extremely welcoming and open to collaborate.

Mr. Stojanovic has over the past 10 years experienced working across US, Asia and Scandinavia with Fintech startups. Around the question of how to attain and recruit great talent for startups, he will always look for the outliers and not the traditional career oriented youngsters. If you want to be part of building a disruptive business, you have to network and find youngsters who are looking at things differently and who are somewhat disruptive in their way of doing things. He feels very optimistic about the Singaporean market and finding these talents.

Mr. Boehme from Accenture adds that to finding the right talent is key and it helps if they have some form of experience from work with different cultures but also to be able to say no and take lead and not only follow orders. Ms. Enckell shares that back from when she graduated from business school in Sweden she was one of the very few graduates that took a first job with a Startup while most of her student fellows would seek for jobs with the larger and more well known companies. Nowadays the situation is completely the opposite back in Sweden where startups attract a major share of university graduates on a whole different level, a trend that she feels is now happening here in Southeast Asia as well.

The audience asked the trio if they could see a change or not amongst youngsters in regards to what they are seeking for when searching for a job. The panel explained that here in Asia there still seems to be a wish to obtain a job, which provides great benefits such as high salaries. Ms. Enckell advice to startups to get around this is to open up for other type of employee benefits such as equity and option ownership.

The trio was also discussing funding and access of capital for startups. Mr. Boehme said that here in Singapore for example he can see a growth of A-series startups while there are less companies ready for B and C-series type of investments. He sees a need for sharper tools and processes that can take the startups to the next and higher levels to grow successfully.

Mr. Stojanovic added that there is no lack of money, but a lack of smart money in the region.

Mr. Ehn concluded to this topic that it all depends on which industry you talk about. A lot of startups building software systems for example may require heavier investments while others should easily be able to get to a c-level round with capital investments. It is not so expensive to build a product or service as just 10 years ago. 

Ms. Enckell lastly added that she can see a growing number of collaboration. As an ending note of the session, the four panelists all concluded that they have a very positive view for the startup community in Southeast Asia with lots of opportunities for bridging business across the globe.