Catalysing Growth: State of ASEAN University Innovation and Entrepreneurship: Report 2024

• Main Authors: Khurshid, Abdullah, TAN, Dexter Ye Kai, TAN, Gabrielle Lay Khim
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2024
• Subjects: Innovation; Entrepreneurship; universities; Thailand; Singapore; ASEAN; Asian Studies; Entrepreneurial and Small Business Operations; Higher Education; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/iie_research/8; https://ink.library.smu.edu.sg/context/iie_research/article/1007/viewcontent/AUN_whitepaper_1.pdf
• Institution: Singapore Management University

Over the past few years, Southeast Asia has captured global attention with its remarkable economic growth, driven by strong tailwinds. This has led to the expansion of its middle-class consumer base that is actively participating in while benefitting from the region’s rapidly expanding digital economy. In such a climate, there is tremendous potential for Innovation and Entrepreneurship (I&E) to be a critical economic driver. Homegrown startups in different Southeast Asian countries have introduced technology-first solutions that have scaled across the region, pushing businesses to innovate rapidly. Moreover, startups promote inclusive growth by leveraging scalable internet platforms and novel technologies to reach populations beyond urban centres. Despite these advancements, challenges remain: uneven access to capital, cultural differences hindering market expansion, and a shortage of technical talent. Addressing these issues requires a platform for resource sharing and collaborative action. This is where the ASEAN University Network - University Innovation and Enterprise (AUN-UIE) is uniquely positioned to catalyse sustained I&E development. This white paper aims to support the vision of AUN-UIE as a pivotal player in Southeast Asia’s I&E landscape and seeks to: • Analyse macroeconomic drivers: Explore the key factors propelling I&E in the region, the impact created, and future growth requirements. - Identify regional focal points: Highlight regional growth trends and emerging opportunities unique to each country. - Bolster the role of universities: Showcase how universities create value for the startup ecosystem and highlight successful initiatives. - Spur strategic initiatives: Foster collaboration through knowledge sharing, leveraging resources, and joint platform utilisation.