Rhyme and Reason, from Dubai to Brunei
It's been a busy couple of months as we pave the path to connect Southeast Asia and the GCC and our stopovers have all had one sound in common: AI! And, while we do a lot of work with AI companies… it's not what you think.
We kicked off in Mumbai, where Meredith was invited by Somaiya University's incubator lab, Riidl to attend the Somaiya University Innovation Festival. She was blown away by the quality and calibre of the companies and founders she met. Lots of catchups with new and old friends too. India is a long play for us at Growth Ensemble - we are investing time and effort to know the market on-the-ground and, over time, we hope to bring some of India's most promising high-growth scale-ups to the GCC and SEA.
Meredith in Mumbai catching inspiring festival vibes!
It was a quick pit-stop back in Singapore to check in with the team and then Adam was off to Brunei, a place of great fondness and history for Adam. Even the crocodiles know him over there.
As part of his role as an advisor to one of the biggest youth leadership events in the region, he was in Brunei to reconnect with old friends and contacts, speak with Government officials, and touch-base with some of the alumni from the previous year’s event - who are volunteering to help run this round.
Adam in Brunei with Gina Pang co-founder of the Youth Leadership Summit and the 2024 Brunei alumni
Adam has been brought on to help improve the format of The Youth Leadership Summit and envisions Brunei as a blueprint for the country rounds of the future. Watch this space for the launch event in a couple of months!
From his meetings with Government agencies, business leaders, corporates and young entrepreneurs - there is one thing abundantly clear: Brunei is more engaged with entrepreneurship than it has ever been. Co-matching funds have been announced, market expansion programmes are being set-up, private startup events being held and foreign companies being enticed to incorporate in the country.
We’ll certainly be getting more involved in the ecosystem as it starts to grow.
Next stop, Dubai! With our team mates Georgia and Advi holding the fort (and Ted, the office cat), Meredith and Adam headed back to the United Arab Emirates - the place they first started working together - in Ramadan. Ramadan is such a wonderful time to be in the GCC and they were privileged to get their old 2009 Twitter gang back together for an iftar, as well as catching up with associates old and new. Following a three-day brand workshop series, meetings with government, media, VC and family office peers, it was awesome to sit down and catch up with old mutual friends as well.
With the old school Twitter gang! And our branding colleague Simon, who experienced his first UAE trip in Ramadan
Our ongoing work in the region continues to validate our core business thesis - the need to connect south-east Asia and the GCC. The signs are everywhere that the pull of the Gulf to businesses in ASEAN is strong.
We work with select organisations that are looking to expand into these markets. In Dubai, energy and excitement abound. There is a sense of the possible, and our conversations with the Dubai Department of Economy and Tourism showed how hard they are working behind the scenes to make it a business friendly and people-friendly city.
After touching down in the little red dot again, Meredith was happy to stay put, however Adam popped off to the land of the Thai - just hours after the earthquake - to spend a productive long weekend in Bangkok.
He took the opportunity to meet up with new partners like X Ventures Holdings, who we will be working closely with over the coming months as they pursue their mission to bring VC capital to emerging markets, funds that will help less-celebrated ecosystems to level up and grow their own startup economies.
With Henry, from X Ventures Holdings
Another clear and obvious trend is the influence of China.
Chinese technology is everywhere, EVs are starting to take over the streets of Bangkok, and they aren’t Telsas. He also met with a young entrepreneur who is bringing Chinese energy technology into the region via Thailand.
The effect of Chinese money staying away is also evident. Bars and restaurants are half-empty, malls are busy but not bursting and new-build condo prices are being heavily discounted. Things may change drastically in the coming months as Asian businesses focus within, instead of with the US, that will only be a good thing for Thailand.
As we reflect on these journeys across continents and cultures, what stands out is the beauty and resonance of relationships built over time and the universal business language of vision, drive and the desire to create.
Our mission at Growth Ensemble continues to evolve and come to life, as we build meaningful bridges between the two regions that we know will prosper together; introduce interesting companies to new markets, and facilitate growth that brings exciting and emerging economies together.
