The growing affluence of a large young population is driving much of the growth in South-east Asia. Throw in digital disruption, and what you get is the rise of the unicorns - private start-ups with valuations of at least US$1 billion. The region has spawned 11 unicorns so far with analysts tipping at least another 10 set to join the club in the next five years. The Straits Times takes a closer look at what is driving this phenomenon and whether this is a tech bubble waiting to be burst.