From startup to scale

BANDAR SERI BEGAWAN: Brunei Darussalam’s start-up landscape is entering a more commercially focused phase of development.

Earlier efforts were largely centred on encouraging entrepreneurs in taking the first step of establishing their businesses. Now, the current phase emphasises more on supporting startups, and micro, small, and medium enterprises (MSME) in building viable, resilient, and scalable businesses.

This is done through building commercial readiness, market validation, investor engagement, and ultimately, regional expansion, reflecting the realities of operating within a relatively small domestic market.

Different from the MSME model that’s more focused towards serving the local market and fighting over a limited market share, startups are designed to scale and requires a different set of skills to succeed.

They are more dependent on greater access to financing to fund their expansion such as bank loans or venture capital, comprises a bigger team, as well as networks with foreign partners to access their markets.

Supporting the transition from an MSME model to a startup model needs a more structured ecosystem of incubation programmes, bootcamps, mentorship initiatives and networking platforms designed to help businesses move beyond the initial stage and towards sustainable commercial success.

Programmes developed by the Brunei Economic Development Board (BEDB), together with a growing network of ecosystem partners are designed to strengthen commercial capabilities – from establishing strong business foundations to preparing high-potential startups for expansion through investor exposure, regional networks and market opportunities.

Collaboration has become a defining feature of this evolution.

Recognising that innovation flourishes within connected ecosystems, BEDB works alongside platforms such as Startup673, Brunei Innovation Lab, and Brunei Mentors and Entrepreneurs Network (BMEN) to create a network of founders, encourage knowledge-sharing, build pathways for business growth, and hold events, such as the Brunei Startup Summit, that brings together partners from around the region to connect with local startups.

Startup communities, private sector organisations, financial institutions and technology companies also play a growing role in creating the network, extending it well beyond just government-led initiatives.

Rather than seeking to replicate larger Asean startup hubs, Brunei is carving out its own niche; one built on stability, collaboration, and the ability to prepare businesses for growth beyond its borders.

All of these together builds a more supportive and interconnected environment where founders can access mentorship, expertise, and opportunities to scale and its impact can be best seen through the lens of founders that have gone through it.

From entrepreneur to scale-up founder

For many founders, one of the biggest adjustments is recognising that technical expertise alone is not enough.

For Ahmad Fathi Datuk Seri Setia Dr Norarfan, founder of Fatih Aquaculture, entrepreneurship programmes helped bridge the gap between scientific knowledge and commercial execution.

“I come from a biological science background – my master’s degree is in hatchery management – so I never really learned about business or had business knowledge before this,” he said.

While his scientific training shaped Fatih Aquaculture’s operations, Fathi said exposure to investor expectations, growth planning, and business fundamentals helped him understand what it takes to build a sustainable enterprise.

Participation in Accelerate Bootcamp later gave him the opportunity to pitch to investors in Singapore and gain insight into regional business expectations.

Through the programme, the company subsequently secured support under BEDB’s co-matching grant scheme, helping it grow from a backyard operation into a business operating two aquaculture farms with more than 370 cages, while diversifying into frozen seafood production and ocean technology.

Fathi’s experience points to a broader lesson: technical expertise can spark innovation, but growth often depends on commercial know-how, strategic relationships, and the ability to adapt.

Mindtrex Academy founder Pengiran Khairi Pengiran Metussin represents another side of Brunei’s startup story.

Early involvement in Brunei’s digital startup community connected him with networks beyond the country, including Silicon Valley, before he expanded into Indonesia and co-developed the education technology platform Islamic Minds with an Indonesian partner.

After returning to Brunei in 2019, Khairi shifted his focus towards education technology and talent development.

Today, he contributes to Coding.bn, an Authority for Info-communications Technology Industry (AITI) initiative aimed at strengthening local ICT capabilities through technical training and industry placements.

His experience shows how founders who gain exposure outside Brunei can return with fresh perspectives, industry connections and practical experience that benefit those coming after them.

As startups look beyond Brunei, the question is often where expansion should begin.

For some companies, the first opportunities may lie within Borneo and the wider Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA).

Established to strengthen trade, investment and connectivity across Brunei, eastern Indonesia, Sabah, Sarawak and Mindanao, the initiative provides a framework for businesses seeking access to neighbouring markets while operating within a relatively familiar regional environment.

While BIMP-EAGA is often associated with infrastructure and economic cooperation, its focus on improving connectivity, facilitating trade and encouraging investment can also create opportunities for growth-oriented businesses.

Priority sectors under BIMP-EAGA Vision 2025 include agriculture and fisheries, information and communications technology, trade and investment, tourism and transport – areas that increasingly overlap with sectors where Bruneian enterprises are active.

For startups, this can provide a practical first step towards regionalisation, allowing founders to build partnerships, test new markets, and develop cross-border networks before pursuing wider Asean expansion.

Beyond BIMP-EAGA, Asean’s expanding economy offers a larger customer base and industry partnership opportunities.

Taking part in regional events underscores this focus by bringing founders, investors, and industry players from across Southeast Asia to explore opportunities in startup financing, digital transformation, artificial transformation, artificial intelligence, market expansion.

Rather than trying to mirror larger startup hubs, Brunei is carving out its own role as a place where businesses can refine ideas, strengthen operations and build partnerships before pursuing wider regional growth.

The next phase of Brunei’s startup development will not be defined by the number of businesses formed alone, but by how many are able to build commercially viable models, secure the right partnerships and compete beyond the domestic market.

That remains a demanding task. A small local market, limited venture capital depth, talent constraints and regional competition mean growth must be built deliberately through sound business fundamentals, operational discipline and access to the right networks.

As more startups move from formation to expansion, Brunei is steadily establishing itself as a place where founders can test ideas, strengthen their businesses and forge partnerships for the wider Asean market. - Borneo Bulletin/ANN