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Published in 2021, Link
My Key Takeaways
UK and European HealthTech startups need to keep Southeast Asia’s (SEA) primary challenge in mind when scaling from Singapore into the region – making basic healthcare more accessible and cost effective.
Key insights from INSEAD’s SEA HealthTech report:
➡️ Healthcare cost will outpace GDP growth in nearly all ASEAN nations. By 2025, total healthcare spending could accelerate to around USD 740B (Pg 9-10)
➡️ Most active healthtech VCs in SEA (SGInnovate, Heritas Capital, Openspace Ventures, Wavemaker Labs, Sequoia Capital, Monk’s Hill Ventures, Singtel Innov8, East Ventures) – VCs to consider for EU/UK healthtechs scaling in the region (Pg 19- 20)
➡️ Growth drivers: I) low healthcare capacity, II) insufficient govt spending III) subpar healthcare systems, IV) growing & affluent middle class VI) SEA’s vibrant Internet economy (Pg 13-14).
➡️ Digitalhealth platforms & remote/telehealth sectors had the most venture activity. Other than Thailand, few ventures in area where tech sophistication would be the fundamental differentiator (e.g. AR/VR, AI, biotech).
Opportunity for EU/UK startups with differentiating IP as their unique selling point, but be careful to not offer/develop solutions that are too early for the market (Pg 21).
➡️ Detailed analysis of HealthTech opportunities in Indonesia, Philippines, Thailand and Vietnam (Pg 32-48)
My LinkedIn post here.
About Zhilin SIM
Having worked and lived in Singapore, the Nordics, China, Spain, UK, I’m now based in Paris.
I’m fluent in English, French and Mandarin, and I’m learning Arabic because it’s a beautiful and fascinating language.
My team creates and supports 1-many initiatives connecting Corporate and Startup ecosystems in Europe to business and innovation opportunities in Singapore and Southeast Asia.
I’m passionate about horticulture, watercolour, startups/tech as well as French cuisine, Peranakan kueh techniques and other global cuisines.
Feel free to connect with me if you think my network in Europe and Asia could be of benefit to your business and innovation activities.
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