Demystifying SEA’s venture-building rise amid downturn

More: GIC, Singapore’s sovereign wealth fund, goes on an AI investment spree. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [SEA’s venture-building boom in a bear market]( - Bukalapak taking a majority stake in Malaysia’s iPrice - Other newsy highlights such as GIC, Singapore’s sovereign wealth fund, going on an AI investment spree --------------------------------------------------------------- Hello {NAME} “Mysterious” is the adjective used by Guillaume Catella, founder of Singapore-based startup studio Creatella, to describe how some may view venture building. I couldn't agree more. While far from an alien concept, the term “venture builder” is often confused with incubator and accelerator. But venture building involves juggling hundreds of ideas per year, hiring founding teams, and developing a minimum viable product within months. Unscalable or unprofitable pursuits are swiftly nipped in the bud. This model lessens the risks involved in starting a business - as nine out of 10 startups fail. It’s an attractive investment proposition in a bear market and VCs are well aware of this. [Here’s a detailed account]( of how investment major Temasek leveraged its venture-building endeavors to solidify its presence in the startup sphere. In today’s premium story, my colleague Shadine delves into the ins and outs of venture building in Southeast Asia, from its emergence as an asset class to the labor-related conundrum it faces in Singapore. Interviews with leading stakeholders in this space also reveal how these venture studios rose to prominence in the region and why governments and corporations alike are trying to get in on the act amid an economic downturn. -- Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [Behind SEA’s venture-building boom in a bear market]( With firms such as Temasek adopting the model and corporates jumping in, venture building could become the next big thing amid the downturn. --------------------------------------------------------------- TRENDING NEWS [Bukalapak acquires majority stake in Malaysia’s iPrice]( IPrice co-founder Heinrich Wendel told Tech in Asia that the firm aims to “meaningfully” contribute to Bukalapak’s profitability goal. [Indonesia slashes VAT for electric vehicles to 1%]( The incentive will be effective from this month until the end of 2023. [GIC leads $129m round of UK AI data analytics firm]( Quantexa is the Singapore-based investment firm’s latest AI-related commitment. [YC shrinks cohorts, sees less SEA, India investments]( The California-based accelerator has seen a dwindling number of startups from Southeast Asia and India in its recent cohorts. [VN edtech firm scores $1m for borderless language education]( Prep looks to use the new capital from East Ventures and Cercano Management to grow its user base to 500,000 this year. [MUFG Bank deepens Asia push with $232m bet in Indian lending firm]( DMI Finance bagged US$400 million in total in its latest round, which also saw participation from Sumitomo Mitsui Trust Bank. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Product Development Conference 2023]( from May 16 to May 17 Tech in Asia’s Product Development Conference is back! This year’s edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. [Register now]( to get 40% off (get additional discounts exclusively for TIA subscribers)! - [Tech in Asia’s Founders Meetup: Philippines]( on April 25 Our networking event, Founders Meetup: Philippines, is happening in Manila on April 25 at Draper Startup House. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Legal Supervisor]( at Gokomodo Jakarta, Indonesia - [Marketing Analyst Intern]( at Propseller Singapore, Singapore - [Software Development Engineer 2/3 (Backend Java)]( at MyRobin Jakarta, Indonesia - [Quality Assurance Engineer]( at Dropsuite Jakarta, Indonesia - [Graphic Designer]( at HashMicro Jakarta, Indonesia - [Legal Specialist]( at Rocketindo Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. 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