In response to the recent launch of our newest chapter in Bangkok, Thailand, Bangkok Startup spoke with Adeo Ressi about FI and Asian expansion. The comprehensive interview covered the fundamentals of the Founder Institute, what makes Bangkok a prime market for entrepreneurs, and what new startup founders in Bangkok should expect for the upcoming semester.
Below, we shared a few highlights of Adeo Ressi is Creating Entrepreneurs Around the World, courtesy of Bangkok Startups. Click here to read the full interview.
What is the Founder Institute all about? Why did you create it, what are your goals?
We are in approximately 60 cities worldwide right now. What the Founder Institute does very well is to help people that have a dream about starting a company first determine if they have a good idea – and if they don’t we will help them to come up with a good idea – and second, understand if starting a company is the right decision for them. Just because you have a good idea, doesn’t mean running a company is the right career choice for you. If those two are true, we will help you build that company. Of the thousand and three grads we have launched till today, 90% of the companies are alive and 75% are doing well and about 50% are funded. That means if you get through the program, the chances you are doing something that is meaningful and enduring are high.
Do you see similarities or differences, particularly among the South-East Asian countries, which stand out?
Oh yes, there are major differences, but also similarities. As I said, generally speaking, the Pan-Asian mindset is a bit more conservative than the western mindset, when it comes to startups. Some countries are trying to change that. Singapore for example is trying to push to change that mindset. People are very hard working and technically confident in Asia. It’s a huge advantage.
What do you think are the major challenges in Asia? Usually people hint towards funding when confronted with that question. Would you agree?
Yes, but! Let me give you an example. We have two chapters in Vietnam. We have a couple of companies that have raised a few million USD each. To raise a few million USD in Vietnam is unheard of, but if you ask people they will say “fundraising in Vietnam is impossible”. Well it wasn’t impossible for these guys. This goes back to the chicken and egg problem. What comes first, funding or company? I would argue that you can’t fund a bad company. That means you need good companies first before you get funding. If we create good companies the funding will come. We have seen that in Vietnam, we have seen that in Columbia, we have seen that in dozens of countries around the world where people said to us “There is no funding here! What are you going to do?” and my answer is: We are going to create great companies that will create great funding. If Facebook started in Bangkok, and got a few hundred million users, it would have received funding. It is that simple.
Click here to read the full article on Bangkok Startup.
The Bangkok Founder Institute is currently accepting applications for the Winter 2013 Semester. If you could benefit from expert training and feedback to build a startup in Bangkok, click here to learn more and begin your application now. Final applications are due Aug 24, 2025.
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