Introducing the Investor Empowering Canadian Startups to Enter the Southeast Asian Market

Michael Gryseels, co-founder of Antares Ventures and seasoned tech investor, aims to scale innovative deep-tech solutions globally, particularly in Southeast Asia. With over a decade of experience in Singapore, Gryseels focuses on transformative technologies that can address significant societal challenges, including climate change, food security, and healthcare. Antares Ventures, established in the past year, targets promising startups worldwide, especially those hailing from Canada’s rich ecosystem known for cleantech innovation.

To date, Gryseels has invested in four companies that graduated from the MaRS Women in Cleantech program: Summit Nanotech, Open Ocean Robotics, Ayrton Energy, and Genesis. He prioritizes companies with commercially viable products, emphasizing customer feedback over revenue figures, as early-stage financial performance may not reflect long-term potential in deep-tech sectors.

In Southeast Asia, Gryseels identifies acute sustainability challenges, such as the impacts of climate change leading to extreme weather, food security due to rising population and middle-class demands, and difficulties in transitioning to renewable energy sources. Although the region benefits from fertile land, agricultural productivity struggles, necessitating imports of staple crops like rice. Energy demands rise significantly, primarily driven by coal, with minimal nuclear or viable wind energy options due to geographical limitations. Furthermore, the rapid urbanization in cities raises urgent healthcare access issues.

Antares Ventures adopts a rigorous research-driven approach to spot promising technological solutions. Gryseels’s team in Vietnam conducts monthly analysis of regional problem statements, leveraging informal collaborations with consulting firms and experts in healthcare and energy. This groundwork aids in identifying startups suited for investment by aligning their innovations with regional challenges.

His investment strategy with Calgary-based Ayrton Energy exemplifies this methodical approach. Gryseels's team mapped the hydrogen value chain over three months, identifying gaps in transport and storage solutions crucial for making hydrogen projects feasible. This led to the discovery of Ayrton Energy and its unique liquid organic hydrogen carriers, deemed more scalable and economically viable.

When assessing founders, Gryseels prioritizes “founder-market fit,” seeking entrepreneurs who possess deep industry insights and experience. Notable examples include Julie Angus from Open Ocean Robotics, Amanda Hall from Summit Nanotech, and Natasha Kostenuk from Ayrton Energy. He also values traits such as leadership, commitment, curiosity, and flexibility in founders who are responsive to market needs.

Once invested, Antares Ventures facilitates market entry for startups into Southeast Asia, particularly in Singapore, Malaysia, Indonesia, and the Philippines. The strategy involves forming partnerships with established players in the region and leveraging local expertise to navigate market complexities.

Gryseels’s praise for Canadian entrepreneurs stems from their exceptional backgrounds and resilience. Founders like Angus and Hall have deep knowledge in their respective fields and demonstrate unwavering commitment, which, combined with Canada's supportive ecosystem for R&D, proves advantageous. He emphasizes that while Canadian startups face challenges in securing funding, this often results in more resourceful, robust companies compared to their U.S. counterparts, which tend to attract more significant early-stage capital.

In conclusion, Gryseels’s insights underscore the strategic focus of Antares Ventures on deep-tech innovation, the identification of sustainable solutions in Southeast Asia, and the unique strengths of Canadian entrepreneurs in the global market.