Echelon Asia Summit 2016 organised by e27 was truly an event that brought together Asia eco-system, including highly innovative startups, early to growth stage investors, corporate, MNCs, financial institutions, government regulators and finally people from diverse backgrounds, expecting tech, design and business people to talk the same language.
This year, as one of 14 country qualifiers, Hoozing was awarded a booth package at Echelon Asia Summit 2016 (Singapore EXPO, 15-16 June) to exhibit the startup amongst the region’s best. The scalable peer-peer business model where a community of house renters is built got Hoozing into TOP10 and a huge opportunity to attract investors for its seed funding.
We’ve recently had a casual talk with the two co-founders: Hai Le and Akshay Sharma to learn about key takeaways from the summit as well as their perspectives regarding other startups in SEA.
1) How do you think about the networking opportunities available in the summit?
A: The summit saw 100+ startups from 15 countries and therefore was an amalgam of great ideas and innovations at one place. Each person was one of the best in their countries and in their fields.
It was great opportunity for startups to approach investors as Singaporean investors, VCs are looking to expand and spend in more emerging markets. The response we got from the investor meetings was really positive.
2) How do you think about other startups in the region, especially in SEA?
H: The different in economic fundamentals provide different advantages for start-ups in more developed countries. However, the gap seems to be gradually diminishing thanks to the internet and the creativity in each country. While the developed country like Singapore has very strong start-up ecosystem and government support, Vietnam has better market opportunities and cheaper cost.
A: I feel that ideas are not really new, but the way people adapt these ideas into local realities makes a real difference. Their implementations and results speak for themselves.
I could see each startup had more or less good traction , and had good understanding about the market they were addressing.
I cant compare to other regions but I think startups in SEA region has great support from market, so it has the chance to attain good liquidity and momentum during its early times. Even the US startups need to target countries like Vietnam, Singapore, Indonesia… to make big money.
Recently Indonesia and Vietnam have emerged as very big markets for consumer services startups, due to increase in phone and technology boom.
3) What is the biggest takeaway of Hoozing from the conference and how are you going to follow up with it?
H: Opportunities are tremendous in SEA region. While each countries has its own culture and business practice, SEA market seem to has some similar problems in real estate market. And Hoozing will try to build a strong platform and business model that could help the region to solve their similar problems.
A: We could see how the idea can really create a ripple not only in Vietnam market but across SEA and even around the world. We had people from Europe and other SEA countries approaching for partnerships.
We also had meetings with some startups that can complement our services in terms of technology. We will be following up with them to make our tech more foolproof. Most importantly, we met some investors and things look positive as well. Following up this month.
Hoozing is an online marketplace for searching and renting long term accommodations. The startup connects people to make house renting trustful, accessible and hassle-free for everyone.