BusinessLao Economy

TohLao Coworking Opens Space For Startups

Source: Vientiane Times

The TohLao Coworking Space has officially launched its new office under the brand “Toh X” which is looking to drive the country’s startup business growth.

“Toh X aims to increase more space for youth to access opportunities to startup businesses and provide a comfortable space for meeting,” Founder of TohLao, Ms Souphaphone Chanthavong commented at her new office.

Ms Souphaphone explained that people in the country are now interested in doing business while not knowing exactly where they can consult in starting their businesses. Therefore, Toh X hopes to be a place for both those who seek business consultation and startups who need more space to work on the internet.

Ms Souphaphone hoped that Toh X would in effect push startups to continue to grow as well as compete in the region.

However, she has seen Lao startups continue to spring up earlier this year while she believes the country can have a high potential for startup growth in the coming years if people here are encouraged by having more space to provide consulting to start businesses and by using the internet to promote their products.

According to the Technology and Innovation Department under the Ministry of Science and Technology there is a small percentage of internet users who use it for startup business, which is far from the other nine Asean countries, except Myanmar, which was not added in the analysis.

Lao startups also still use less technology than neighbouring countries to promote their products or in starting their businesses on the internet.

An official who has worked in relation to promoting startup businesses in Laos who wanted to remain nameless suggested that if Lao startups knew how to use social networks or internet applications, it would be much easier for them to undertake marketing in promoting their products.

He added that this would also be a way to expand and encourage new startup growth in the country through the benefits of using technology.

Laos is a developing country where startup business is still unfamiliar among young people, which is a disadvantage as compared to other countries in the region.

Laos has just 10 startup businesses currently including five hoping to distribute economic and social development, TohLao reported.