In this episode, Michael Waitze speaks to Nick Nash, the Managing Partner and Co-Founder of Asia Partners. Starting off with some light banter given that both Michael and Nick Nash shared the same home county, they moved on to a chat about how the start-up situation has changed over the years.
In the past, when companies such as Amazon or Google reigned supreme over smaller companies, people all worked and dreamed to build the next big player in the market. But just recently, out of nowhere, a new generation of unicorns have sprouted, especially with some of these companies being the number one in all the countries in Southeast Asia. Nick illustrates how the 3 largest unicorns by value were all regional, and the 2 following, local.
Nick also shares 2 specific strategies that have worked to get various companies high off the ground. Namely, either simply focusing all effort into doing everything in Indonesia, or to reach out to all the countries in Southeast Asia but using one of the Southeast Asian countries as a springboard to catapult the company forward. This leads to a interesting discussion between the two, going across topics such as how Singapore was an “easy” country to make use of and start a business from.
All these converge on what Nick believes are the 5 vital nutrients critical to a country for start-ups to succeed: Spending power, Population, Availability of programmers, STEM education and Access to Capital.
Although Nick had to leave earlier than Michael hoped, the duo agreed to continue the exciting discussion in the future, touching bases on the process of bringing a company to its Initial Public Offering, and how Nick believes the future situation of start-ups would possibly mutate even more crazily. Listen in to this episode of Thailand GameChanger now to find out how you could apply the strategies to help you successfully start and build a flourishing business.
This episode’s audio was expertly edited and this episode’s summary was written by Yong Yun Jing.