Posts

Here’s what you need to know before the hectic work day starts.

1. Plug and Play to invest in dozens of Indonesian start-ups

Plug and Play CEO and founder Saeed Amidi said the company hoped to establish 200 Indonesia start-ups in its portfolio by 2020 in response to the visit of Indonesian delegates, led by President Joko “Jokowi” Widodo earlier this year.

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2. Vietnam government ropes in VC investors to help finetune startup regulations

By 2025, the government hopes to have about 2,000 startups covered under the project, of which at least 100 companies are likely to receive venture capital funding or get involved in M&A deals with an expected total transaction value of $89.7 million.

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3. PayMaya launches payment gateway for online merchants, partners with JCBI

This would allow even small and medium enterprises (SMEs) and startups to accept card payments, a breakthrough in a country with low credit and debit card penetration as well as card acceptance in stores.

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Thai-fiance-minister, Thai Companies To Get Tax Break Incentive To Help SMEs

Source: National News Bureau of Thailand

The Thai government wants to impose another measure to encourage big companies to help SMEs. According to Apisak Tantivorawong, Thailand’s Finance Minister, this initiative will allow the big corporate players to request tax deductions one to two times higher than for normal expenses for helping SMEs.

The government is set on developing and helping SMEs grow, as there are up to 2 million operators in the small and medium enterprise segment. Businesses can provide SMEs with accounting advice, computer software or be a loan guarantor for new entrepreneurs. Apisak Tantivorawong, Thailand’s Finance Minister comments,

If we can upgrade 500,000 or 1 million firms to be strong players, it will be a powerful driving force for the economy. 

The government sees that small players should receive proper support and perhaps narrow the gap with the larger corporations.

“Large corporations have money to pay for cutting-edge technology, which will eventually replace the human workforce. So it makes sense for us to boost growth in SMEs, who will help the country maintain the employment rate,” said Mr Apisak.

A version of this appeared in Bangkok Post on July 2. Read the full article here.

Vietnamese Government proposes separate stock exchange for startups

Hanoi’s co-working culture is facilitating SMEs and small startups Source: coworking.vn

The Vietnamese government proposed to set up a separate stock exchange for the country’s startups and SMEs, as reported by Tech Wire Asia. The National Financial Supervisory Commission (NFSC) and the State Securities Commission had been planning to establish a stock exchange for startups within the next few years.

This proposal, however, has been met with criticism from industry players. This is mainly due to Vietnam’s arguably small scale startup scene that is far from ready to be listed on the stock exchange, as the average startup valuation has remained below US$10 million.

Every company needs to meet a lot of requirements to be listed on the stock exchange, and most startup companies would be unable to do so. – Do Hoai Nam, Founder of ‘Up’ Co-working Space

Vietnam’s Deputy Prime Minister Vuong Dinh Hue has expressed support for a separate stock exchange, as he feels that it would create favorable conditions for startups to thrive. The Deputy Prime Minister also adds that the government will be setting up institutions that will help SMEs get off the ground.

The government’s initiative, although positive in terms of startup and SME support, hints at a lack of understanding in startup infrastructure. As startups are difficult to value, it will be difficult to list on the stock exchange.

Vietnam should customize regulations to include big startups into the existing stock exchange- Cao Quy Vu Anh, CEO of ‘Fundstart’ crowdfunding platform

 

A version of this appeared in Tech Wire Asia on June 27. Read the full article here.