Lao startups use less technology than neighboring countries: official

Lao startups still use less technology than neighboring countries to promote products or the internet to start their businesses, according to Sumana Chulamani, director general of the Technology and Innovation Department under the Lao Ministry of Science and Technology on Saturday.

Only 2.4 percent of Lao people use the internet to run their businesses, which is far less than in the other ASEAN countries, with the exception of Myanmar which was not in the analysis, Sumana was quoted by local Vientiane Times as saying during the ongoing Lao Techmart 2016 in capital Vientiane.

Technology was an important tool to push new ideas for Lao startups especially among young people. When Lao startups know how to use social networks or internet applications it will help them to market and promote their products. This would also be a way to expand and encourage new startup growth in the country by highlighting the benefits of technology use, he said.

Startup businesses are still unfamiliar among young people in Laos compared to other countries. Laos had just 10 startup businesses including five successful ventures to assist its economic and social development, according to a recent survey on startup business by Toh Lao Coworking Space.

Lao people still have limited understanding on accessing technology and information and how to use the internet to start a business. New startups are also limited by their ability to commercialize creative ideas, accessing finance sources, and especially a lack of law and policies to promote business, said the survey. Endit