ABSTRACT
Cleantech startups have emerged globally as a major force in clean energy development and energy transition. This study examines the cleantech ecosystem in ASEAN, its origins, spread, and factors determining funding. Handpicked data shows Singapore dominates, followed by Indonesia. Most cleantech startups were founded during 2010–2020. The Paris Agreement may provide impetus. Empirical analysis suggests that number, education, and experience of startup founders, as well as how long they have been in business, contribute positively to their funding. Most surprising is the negative impact of female founders on financing, as well as the mixed impact of quantities of patents and trademarks. Analysis also shows regional heterogeneity and a need for proper adoption strategies and encouragement at the country level. ASEAN should focus on industry-linked education, promoting scientific collaborations, support for incubators and accelerators, and generous research grants to cleantech startups. We recommend an intra-ASEAN accelerator to make cleantech spread more evenly.
