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India and SEA follow similar tracks in the startup ecosystem with India providing a catalyst for the development of certain segments in SEA.
However the key trend grabbing headlines in both regions is - exits. The more mature start-ups in both India and South-East Asia are increasingly looking at options to exit, whether through a public listing via a SPAC demerger or the traditional IPO route. A number of companies in SE Asia, such as Grab, Traveloka, Bukalapak, and Tiket.com all appear to be looking at SPAC options, according to media reports. Others are looking for a more traditional route, with Goto apparently opting for a dual listing in Jakarta and the US, most likely through a traditional IPO.