The fact that a Myanmar-based domestic flight OTA, Flymya, won the WiT Start-up Pitch in Japan is proof that the start-up world is indeed flat, and that while ideas and execution may be local, global is the new playground for all aspiring entrepreneurs.
“At WiT Japan & North Asia, the message was clear – funding today knows no boundaries and investors are not bound by geography. Start-ups have the opportunity to think global from day one.
Global doesn’t mean you have to do business in every market but that you have a global mindset from the start,” said Yeoh Siew Hoon, founder, WiT.
Indicative of this trend, WiT has seen its start-up competitions grow to attract submissions from all across the world.
For the upcoming Start-up Pitch in Singapore, the attraction is the South-east Asia market which is increasingly being eyed by investors from North Asia, US and Europe. With a population base of more than 641 million, this region is seeing its Internet economy power ahead, helped by the most engaged mobile Internet users in the world.
“This makes the South-east Asian market hard to ignore for investors and start-ups,” said Yeoh.
“Indonesia is the star market and it is getting crowded but there are still opportunities to be carved out. Then there are the emerging markets of Vietnam, the Philippines and Malaysia where the market is becoming more competitive but remains wide open for a strong local OTA.”
It is against this backdrop that the WiT Singapore Start-up Pitch 2019, powered by Amadeus, will host its next round of hopefuls this October, in conjunction with WiT Singapore (Oct 14-16).
An impressive list of judges has been lined up for the first virtual judging round to whittle submissions down to 10 semi-finalists who will compete on the WiT Innovation Stage on October 14 for three Grand Finals spots on October 16.
“The winner of this year’s Start-up Pitch will win a place in the Phocuswright Innovators 2019 programme as well as an opportunity to be enrolled into the SIA Accelerator Programme with up to S$150,000 development funding.
Send in your entries now for a chance to be heard by a global cast of investors and to be mentored by industry coaches.
For more information, please contact: Vera Lye