Regional: Digital Entrepreneurship in Asia for Economic Resilience and Post-Pandemic Recovery

Industry and trade / Small and medium enterprise development

Information and communication technology / ICT strategy and policy, and capacity development

The COVID-19 pandemic has accelerated digitalization in almost all aspects of life, driven by a proliferation of remote working, remote learning, online shopping, movie streaming, and videoconferencing. Information and communication technology (ICT) has enabled organizations to continue operating amid global lockdowns and social distancing measures. The post-COVID-19 'new normal_ will continue to be highly digitalized, reinforcing the importance for developing Asia of digitally transforming their economies. Digital entrepreneurs were already a growing force in the world economy before the outbreak. Accelerated digitalization brought about by COVID-19 is bringing digital entrepreneurship further to the fore.

Nurturing digital entrepreneurship can help developing member countries (DMCs) adapt their economies to the post-COVID-19 world. Yet there have been few efforts to facilitate knowledge sharing among countries regarding what works in terms of nurturing digital entrepreneurs and digital entrepreneurial ecosystems. This scarcity of knowledge contributes to many DMCs having weak institutions and policies for digital entrepreneurship.

Although entrepreneurs have been hit hard by COVID-19, those that have effectively leveraged digital technology generally have weathered the pandemic more effectively._Digital entrepreneurs have thrived during the pandemic and they are likely to play a large role in the increasingly digitalized post-COVID-19 world. ICT can substantially reduce the cost of starting a business, opening up fresh entrepreneurial opportunities for women, youth, and the poor._

Strengthening digital entrepreneurship can thus help Asian economies recover from COVID-19 and serve as an engine of inclusive growth. Although governments and the private sector in many Asian countries have already begun to respond to digital opportunities, much remains to be done and there is sizable scope for stakeholders to improve their policy-relevant knowledge and build dynamic entrepreneurial ecosystems._ This TA project will foster digital entrepreneurship by addressing these knowledge gaps.

Remaining poverty and inequalities for developing Asia's population affected by economic crisis reduced

Quality jobs generated amid improved business environment for digital entrepreneurs, companies, and MSMEs

Women's resilience to external shocks strengthened through improved access to job skills and support for women's entrepreneurship

Knowledge to improve the capacity of DMCs to nurture and unlock the productivity potential of digital entrepreneurs strengthened

Updated metrics and public data on digital entrepreneurship enhanced.

Innovative research of digital entrepreneurial ecosystems promoted.

Knowledge sharing and capacity building on digital entrepreneurship strengthened.

National data and entrepreneur-level data from ASEAN-6 survey and other related information on digital entrepreneurship in developing Asia were harmonized and prepared for further analysis.

ASEAN digital entrepreneurship survey completed on time; other important background studies and notes on digital entrepreneurship were also completed.

Knowledge sharing and dissemination plans are currently being prepared as part of the Asian Development Outlook Update 2022 theme chapter promotion. Coverage and content of capacity building activities are currently being discussed.