| Startup Thailand | TH |
From Thailand to the Region :
Lessons from Fostering Over
1,000 Startups in Southeast Asia
One of the highlights of the Global Stage at SITE 2025 was a fireside chat titled, “From Thailand to Regional: Lessons from Enabling 1,000+ Startups Across Southeast Asia,” featuring Thaddeus Koh, co-founder of e27, a leading platform that supports startups and the tech ecosystem in the region.
For over 11 years, e27 has served as a “connector,” linking entrepreneurs, investors, and ecosystem partners. Its core mission revolves around two key areas:
- 1.Providing founders and startups with information and insights on what’s happening across the region.
- 2.Connecting various players within the ecosystem, whether it’s startups with customers and partners, or even with government agencies in different countries.
Diversity is the Key to Understanding
Thaddeus emphasized that expanding in Southeast Asia is not about using a “one-size-fits-all” approach. Even though the countries are in the same region, their cultures, regulations, consumer behaviors, and business practices are completely different. For example, in Singapore, software can be sold through online channels, but in Indonesia, a face-to-face meeting is often necessary to close a deal. Understanding the local context is therefore crucial for tailoring a strategy to each country.
Don’t Just Seek Funding, Find Your Customers First
Koh stated, “Whether you sell coffee or an AI platform, if you can’t find customers, you can’t move forward.” He stressed that a primary reason for startup failure during regional expansion is a lack of understanding of customers and the market. Many founders focus on raising capital, but revenue from customers is far more sustainable than funding.
Don’t Rely Solely on VCs; Secure Revenue from Customers First
In an era where fundraising is more challenging, investors have become more cautious and are looking for companies with real revenue. Thaddeus advised that not every company needs to rely on a venture capital firm.
“VCs want a stake in your company, which comes with a complex and time-consuming process. But if you can generate revenue from customers, that is a much more stable long-term survival strategy,” he said.
Leverage of Each Country’s Strengths to Build a Regional Team
Thaddeus shared e27’s strategy of building a team with members from different Southeast Asian countries, highlighting each nation’s strengths:
- – Thailand: Ideal for development teams due to competitive salaries.
- – Singapore: Strong for sales and international network expansion.
- – Vietnam / Philippines: Offers high-quality talent at a competitive cost.
Understanding the costs and potential of each location helps startups build their teams strategically.
The Government is the “First Gateway” to International Markets
Another key takeaway was the role of government as a “door opener” for Thai startups.
- – Governments have strong networks and can connect startups with key players in the ecosystem.
- – They provide these connections free of charge and have the influence to build trust and credibility.
After this initial government support, startups can then build relationships with private sector entities, who may eventually become long-term customers or partners.
The Long-Term Goal: A Unified Southeast Asian Market
Thaddeus expressed his desire to see Southeast Asia become more like the “United States,” where despite having many states, a common legal framework allows companies to sell products or services across the entire country.
“If we can connect Southeast Asia to function as a single market, companies from Japan or Korea will immediately see its immense potential,” he said.
Thai Startups: Don’t Wait for Someone to Open the Door, Knock on It Yourself
Expanding a business from Thailand to the region is challenging, but it is far from impossible. The most important things are to:
- – Know your customers.
- – Understand the market and its culture.
- – Fully utilize your existing network.
- – And most importantly, generate revenue before seeking funding.
“In the startup world, there are no shortcuts. There is only the courage to start. Because if we don’t step out, we will never know what ‘door’ is waiting for us.”
