Not at all!
This is open to any student (as long as you're aged 10 to 17), from anywhere. We call it Young Founders Summit @ SEA because we are the exclusive partner for Southeast Asia, but if you're in Indonesia, Malaysia, Hong Kong, Mainland China, India, Dubai (anywhere at all!), we welcome your pitches.
The Semi-Finals and Finals are held in Singapore though, so IF you're selected as a Semi-Finalist, you are expected to be able to travel to Singapore.
But you've got nothing to lose! Submit first, and you can cross the bridge when you do get chosen :)