International expansion to Southeast Asia (Singapore, Indonesia, Thailand, Vietnam, Malaysia, Philippines)

International expansion to Southeast Asia (Singapore, Indonesia, Thailand, Vietnam, Malaysia, Philippines)

Germany
Start: 01-01-2023
End: 31-12-2023

Service ID:

EP27S3
Service description

An acceleration programme for startups from EIC Accelerator with strong scaling potential. The service aims to support startups in preparing and successfully scaling their business Southeast Asia, a $3.11 trillion market. By 2022, Southeast Asia’s middle-class consumers will grow by 50M and bring in over $300B in disposable income, showing massive potential for innovation in the health and wellbeing, E-commerce, banking, and hospitality space. The activities under this service can be implemented in three standalone offers or as a package: 1) Market Radar: Half day workshops / webinars including breakout sessions with industry experts to define initial steps for international expansion to Southeast Asia as a target market. Also, evaluations of the technology, the product and the defensibility as well as the current commercialization strategy and plan are included; 2) Market Discovery: 6-weeks programme including local team in Southeast Asia to raise awareness of market trends and opportunities. Further, experts will give feedback on the product and work on a product-market-fit with the participating startup. Mentors and experts will be assigned to the startup based on the specific needs. The goal of the service is to enable the startup to take an informed decision on whether the market has enough potential and whether more resources should be put into the expansion. Other included services: Introduction to innovation scene, business culture, other specificities of target market, networking opportunities with key industry and startup ecosystem stakeholders, readiness report with feedback from mentors and the team for the next steps of the expansion. This offer is implemented in a hybrid mode; 3) Market Access: the local team in Southeast Asia will define a specific market access strategy and help localize the product, find the right price point and develop a business model and branding for the product. Further, potential clients and partners will be approached with the clear goal of acquiring the first customer of the startup in Southeast Asia. Other included services: Competitive analysis, legal / regulatory assessment, understanding of corporate set up, hiring in target market and local grant opportunities. This offer is implemented in a hybrid mode.

Financial requirements

Market Radar: 9500 €. Market Discovery: 30.000€. Market Access: 56000€. Participation costs are negotiable based on group/individual setting and duration of the engagement. German startups will have an introductory meeting to determine whether they are eligible for a similar, free of charge government-financed programme.

Disclaimer related to service

Depending on the introductory meeting and the potential eligibility for the government-financed program, an additional selection process may be required.

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Are you in doubt if this is the right service for you, or do you want to get more information about the service? Get in touch with the EIC Partner providing this service through this query form!

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Is this the service you are looking for? If so, you can apply to the service through EIC ACCESS+! Eligible applicants can also get co-funding through the EIC ACCESS+ initiative. Find out more on the project webiste.

Receive up to €60,000 in grants, covering up to 50% of the costs, to access specialised services from the EIC Service Catalogue. Learn more on the EIC ACCESS+ website.