KUALA LUMPUR: With the right infrastructure, policies and government support, Southeast Asia (Sea) is set to enter the unicorn zone in the next 10 years, with startup companies leveraging their businesses on e-commerce and financial technology (fintech), Wild Digital Sea 2019 speakers said.
Ernst & Young Advisory Services Sdn Bhd’s Fintech Advisory senior manager, Gopal Kiran said a lot of unicorn startups are popping up, especially from the United States (US), but things are a little slow in SEA.
“However, I believe the mood is picking up. We have the right tools and assets so I believe we are getting there,” he told Bernama on the sidelines of the two-day conference which began yesterday.
Gopal noted that there is a need for support in terms of policies, capital and investments to ensure that businesses would be able to expand in the region.
A unicorn refers to any tech startup company that reaches US$1 billion dollar market value, as determined by private or public investment.
– Bernama
