Winning Southeast Asia Startup Scene with Innovation and Localization

 

Mohan Belani, Co-Founder and CEO of e27, a vital platform for tech startups in Southeast Asia, shares his knowledge about the rapidly expanding internet economy, entrepreneurship, and the changing face of technology in an interview at Startup Istanbul. Getting to know Belani's background as a driving force behind innovation and building communities, taking him from Singapore to Silicon Valley, and back again, presents actionable insights for other entrepreneurs and investors navigating the vibrant startup ecosystem of the region. This article highlights his thoughts on successfully capitalizing on digital transformation, social impact, and resiliency in a post-pandemic world.

Unpacking the Startup Surge in Southeast Asia

Southeast Asia's startup ecosystem, with a diverse and growing population of 650 million people across 11 countries, is complicated and dynamic. Belani reminded the group to emphasize localization. For example, some global players like eBay have not successfully entered countries like China, not paying attention to the cultural context. Belani describes successful regional unicorns such as Grab and Gojek, which localized first, or, as in the case of Gojek, a deep localization strategy in Indonesia, permitted these start-ups to adapt to the local context.

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Belani provides three clear recommendations for start-ups seeking to enter Southeast Asia:

Study the Local Landscape: Develop an understanding of the regional investment environment and connect to the local political, economic, and social stakeholders in the region. This is a long-term investment commitment, and local investors like to see start-ups that are committed to growth in the region.

Build Partnerships: Identify a local partner for joint ventures in order to work collaboratively to develop a market-entry strategy and gain valuable local market.

Invest in Local Talent: Belani suggested that a start-up should hire a local general manager along with culturally competent team members in order to align with the cultural divide and enhance market fit.

The funding environment in 2025 is competitive, with Singapore-based venture capital firms focusing on regional impact and firms, such as Tencent from China, seeking out strategic opportunities. Belani recommended that start-ups look to secure a local lead investor to establish a certain degree of credibility.

Solve the real problems, build resilient teams, and adapt to the local ecosystem

Hubs for Entrepreneurship

As an NUS alumnus, Belani commended the role of NUS and its ability to stimulate entrepreneurship through programs such as NUS Enterprise and the Overseas College, where they establish global exposure, early-stage funds, and connections to industry. Belani remarked, "Universities need to continue ensuring there are relevant and open curricula," and supported open-access resources and partnerships to help in filling the gap between academia and industry.

Strategies for Startup funding

The capital raising equation in Southeast Asia is local. As an example, Indonesian investors almost never fund outside Indonesia. Furthermore, Singapore-based funds primarily fund deals focused on the region. Belani also suggested accelerators such as MOX, which provide access to mentorship and global networks, will be best for an early-stage startup. "It's key to have a local investor leading your round," he said, using the example of how the local investor is usually committing more than just investment, but also commitment to the region and trust.

Resilience in the Future of Startup Tech Landscape

Belani’s insights attest to the resilience essential to win in Southeast Asia’s startup ecosystem. He points out the parallels between the crisis of 2008 and the current situation we face, emphasizing that there are factors that serve as barriers and the need for entrepreneurs to work with these barriers. “Take the crazy ideas you’ve shelved, and take a risk”, he says, mentioning that upcoming years would be pivotal for innovation.

As Southeast Asia takes its place as a global tech startup hub, Belani’s path and the transformation of e27 can serve as a case study for other success stories. With exponential growth, we see that only by localization, aligning strategic partnerships, and impact-driven innovation, startups can flourish in this fast-moving region. Belani’s advice, “solve the real problems, build resilient teams, and adapt to the local ecosystem,” resonates with us as principles for a new generation of entrepreneurs encountering the internet economy in 2025 and beyond.