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Best Startups In Southeast Asia 2024

In this article, we will discuss the top startups from Southeast Asian countries. As the startup sector continues to flourish worldwide, many Southeast Asian countries are also working to create thriving startup ecosystems.

While Singapore already has a well-established startup scene, other countries in the region are emerging with innovative startup ideas that are aiming to transform their economies.

Top Startups In Asia 2024

Here is a list of the top startups in Southeast Asian countries.

Progresif (Brunei)

Progresif was established in 2014. Progresif Sdn Bhd is a government-linked company under Darussalam Assets in Brunei Darussalam. Initially focused on cellular services, Progresif has broadened its offerings to include a full range of telecommunications services and solutions for consumers, small and medium enterprises and large-scale businesses.

Progresif has been evolving into a digital lifestyle partner with the introduction of Progresif since 2020, Brunei’s inaugural over-the-top on-demand streaming platform, and Progresif Care+, Brunei’s premier self-care app with direct carrier billing capabilities. In Progresif’s ecosystem, additional products include a mobile wallet named Progresif Pay, an events and ticketing platform named Progresif Events, and an educational platform named Progresif Minds.

Proximity (Maunga)

Proximity was established in 2008 in Yangon, Myanmar. Proximity Designs provides 3D printing services for agricultural applications. They use this technology to create components for sprinkler systems and the internal mechanisms of solar pumps.

Proximity Designs has forged partnerships with Alterfin, Autodesk, Chandler, DFID, FMO, Mulago, Symbiotics, and Yoma Bank. Additionally, the company provides financial microlending services tailored to the needs of farmers. Their customer-centric approach offers farmers a range of low-interest-rate loans customised to suit their requirements.

Smart Axiata (Cambodia)

Smart Axiata was founded in 2009 and based in Phnom Penh, Cambodia. Smart Axiata provides mobile telecommunications services across Cambodia.

Its 2G network covers approximately 98% of the population, while its 4G network extends across 25 provincesHello Axiata, a subsidiary of Axiata, merged with the company to increase market share in 2012. Currently, Axiata is considering selling a portion of its 92.5% stake in the company to fund future acquisitions and expansion initiatives.

T Pay (Timor-Leste)

Founded in 2019 and based in Dili, Timor-Leste, T Pay offers an app and QR-based platform for money transfers and bill payments.

Tokopedia (Indonesia)

Founded in 2009 in Jakarta by Herman Widjaja, Leontinus Alpha Edison, Melissa Siska Juminto, and William Tanuwijaya, Tokopedia is an Indonesian e-commerce startup. It has emerged as one of Indonesia’s leading platforms for e-commerce, the internet, marketplaces, and shopping.

With over 350 million product listings and a vast range of 42 digital products, Tokopedia serves over 100 million monthly active users and hosts over 10 million merchants. Its customer-to-customer platform is free for both sellers and buyers, allowing brands to set up verified, official stores. Offering products across 25 categories, including food, beverages, beauty, fashion, and digital services such as credit, bill payments, and ticket purchases, Tokopedia continues to redefine the e-commerce landscape in Indonesia.

J&C Group (Laos)

Founded in 2008 and headquartered in Vientiane, Laos, J&C Group operates in various sectors, including insurance, marketing, investment, real estate, and joint ventures.

With a team of over 100 local and international employees, they provide health and life insurance plans that include coverage for COVID-19. Additionally, they provide operational management solutions for e-commerce businesses.

Naluri (Malaysia)

Founded in 2017 in Kuala Lumpur, Malaysia, Naluri is a digital health platform focused on enhancing mental and physical health through a human-centred, AI-enhanced approach.

They provide employee wellness programmes addressing both physical and mental health. Their evidence-based digital health solution helps organisations predict, prevent, and manage common cardiometabolic and mental health conditions such as heart disease, diabetes, cancer, chronic stress, anxiety, depression, and pain. Additionally, they provide consulting, performance coaching, and training services.

Great Deals (Philippines)

Founded in 2014 in Quezon City, Philippines, by Steve Sy, Great Deals provides comprehensive e-commerce solutions incorporating digital content, web design, analytics, and chat support.

As the leading e-distributor in the Philippines, Great Deals E-Commerce Corporation serves multinational brands, fulfilling their online advancement needs. Keeping pace with the country’s e-commerce expansion, the corporation offers brands holistic opportunities to maximise their e-commerce potential.

Ultiverse (Singapore)

Founded in 2021 and based in Singapore, Ultiverse was founded by Joe Zhou and Jimmy Liu.

It operates a blockchain-based NFT gaming platform where gamers can engage in multiplayer battles against other players. The platform allows users to create their own characters and also offers the option to redeem non-fungible tokens for real-life replicas and deliverables upon request, giving players an immersive gaming experience like in the real world.

Flash Express (Thailand)

Launched in 2017 in Bangkok, Thailand, by Di Weijie and Komson Lee, Flash Express is a logistics and transportation company that provides door-to-door pickup and delivery.

More than a logistics firm, Flash Express has revolutionised the Thai delivery sector, significantly impacting e-commerce and everyday life in Thailand. With rapid growth since its inception, the company now employs over 10,001 people and has raised $350 million in funding from ten investors, including Bure Capital and SCB 10X. Their innovative approach to logistics and transportation highlights Thailand’s growing expertise in tech-driven solutions.

Axie (Vietnam)

Founded in 2018 and based in Ho Chi Minh City, Vietnam, Axie is a decentralised strategy-based gaming platform.

Users can purchase virtual plots that can be upgraded over time with various resources and crafting materials found during gameplay. These plots can also be sold on the marketplace.

Conclusion – Startups in Asia

Startups in Southeast Asia have been adapting and restructuring in recent years. Despite the challenges, Southeast Asia remains an attractive market. Sectors such as fintech have significant growth potential, which offers both profitable and transformational opportunities.

Faqs – Startups in Asia

Which country is best for startups in Southeast Asia?

Singapore’s startup ecosystem is flourishing. It is best for startups in Southeast Asia.

Who is the biggest investor in Southeast Asia?

The US is the leading investor in capital projects in Southeast Asia

Which is the fastest growing country in Southeast Asia?

The Philippines is Southeast Asia’s fastest growing economy.

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