At Founders Lair we are all about exploring and developing startup ecosystems globally. Our CEO and Co-Founder Jelte, was able to meet Zolboo Bayarsaikhan and Purevsuren Byambasuren, Mongolia Startup Ecosystem experts, in Beijing.
Why are the Mongolian Startup Ecosystem Experts on the Run?
The goal of the meeting was to find ways to empower startup founders in Mongolia, tap into global opportunities, raise funding, and gain traction. The Mongolia Startup Ecosystem itself is too small to help startups to grow beyond a certain size, so it is time to look outside Mongolia. For this, Zolboo and Purevsuren travel to various startup ecosystems in the region, covering China in Beijing, but also getting to Kuala Lumpur, Malaysia, and other markets. Time is precious, so both of them were trying to get as many meetings done as possible.
At Founders Lair we aim to support local startup ecosystems all around the world and we work together with governments and experts to help founders tap into global resources.
In the coming weeks, we will organize an information session for startup founders from Mongolia who are keen to explore international opportunities. We will share what it takes to go global and what resources are available for them. We will also share best practices on what kind of market expansion strategies can work for them.
What does the Mongolia Startup Ecosystem look like?
Zolboo, Purevsuren, and their team have been working on the tedious job of mapping their entire Mongolia Startup Ecosystem, and now they want to help the local founders to get even further.
An interesting insight we got from the meeting is that Mongolia is a quite small startup ecosystem, the entire population is roughly 3.5 million people. Zolboo mentioned that as nomads, entrepreneurship is in the blood of fellow Mongolians, however, the businesses are often run by family members, and less like global tech companies.
If you are keen to learn more about the Mongolia Startup Ecosystem, check out the map they have created. The choice of a circle resembles the traditional shape of a yurt.
The map was revealed to 236 organizations who came to the START Networking event on 31 March 2023 and the coorganizer Golomt Bank, and sponsors: Socratus Startup Studio; Teso Group/Тэсо Групп; and Smart Logic; media partners: Unread Media and TenGer.
If you see startup ecosystem experts on the run, give them a helping hand and share insights about your own startup ecosystem, so they can help founders in their ecosystem even better. It was a great pleasure to meet the Mongolia Startup Ecosystem experts, and we are looking to exchange with more amazing ecosystem builders globally.