The launch also kickstarts the plan to expand regionally in Southeast Asia

HiDoc, telehealth and video conferencing service that gives specialists access to patient health records, has been launched with the support by SGX-listed Singapore Medical Group. With its launch, HiDoc plans to introduce AI-based features that will increase the quality of follow-up healthcare and second opinion consultation.

HiDoc also plans to expand the network of 15 specialists into local GPS and to countries like Vietnam and Indonesia soon after completing the funding the company said it will raise in the second quarter.

Also Read: Today’s top tech news, Jan 30: OYO to expand to Philippines; gini raises US$1.6M

“We want to provide greater value where for example, a diabetic patient who has regular follow-ups with his or her endocrinologist can receive better and continuous management of care by using this platform. We believe continuous care reduces many medical complications, which is one of the reasons why we wanted to launch HiDoc. The platform will be a bridge between patients and specialists,” explained Dr. Christina Low, CEO, and Co-Founder of HiDoc.

HiDoc aims to deliver the diagnosis within 24 hours or instantly through video conferencing – seeking to improve the quality and efficiency of follow-up healthcare via its app on both iOS and Android mobile devices.

Using HiDoc, patients will be able to upload their health records and have access to healthcare services, especially for overseas patients who are considering treatment in Singapore.

Also Read: These 20 startups are joining the 4th batch of Plug and Play Indonesia

As a further service on behalf of patient’s convenience, HiDoc has partnered with DBS to allow patients to use DBS PayLah! for a more convenient payment process.

The firm has also secured the HIPAA (Health Insurance Portability and Accountability Act) Compliant and 256-bit SSL encryption.

HiDoc is said to be in the process of raising fresh round of funds.
–

Image Credit: HiDoc

The post Singapore Medical Group backs the launch of telehealth platform HiDoc appeared first on e27.

Worry less on funds and focus on your business, with CVC’s help

The number of active Corporate Venture Capital (CVC) units in Southeast Asia (SEA) has increased by a considerable amount within the past few years.

Additionally, the new CVC units are more active which allows more deals to be made under its involvement.

This is in line with a global trend where big companies actively engage with startups as a strategy to stay competitive.

As the pace of innovation increases and industries face the struggle of keeping up, this strategy becomes more and more relevant.

For regional startups, this means that CVC is becoming an increasingly available source of capital.

Thus, any startup currently fundraising should take this into consideration.

Given that the growth of CVC in SEA is a relatively new phenomenon, many times there is often a lack of experience on both sides of the table — which could lead to misunderstandings.

In order to be prepared and increase the likelihood of success, here are five CVC must-knows for all startups.

Understanding the motivation of Corporate Venture units

Financial VC’s motivation for investing in startups is pretty straightforward – they are looking for a financial return.

Negotiating with financial VCs can be challenging, but when startups know their objective it becomes easier to find compromises and drive negotiations forward.

With CVC identifying their objective, it can be a bit more demanding.

On one end you have CV units that operate almost entirely as financial VC’s and have financial returns as their main goal.

On the other end, you have CVC units that aim to produce strategic value for the parent company. Their measure of success is how well their investments help to improve business in the parent company.

Most CVC funds have a mandate that incorporates both financial and strategic goals but it may be tricky to identify just how much weight they place on each of these goals.

To make things even trickier, a CVC unit can have a portfolio consisting of both strategic and financial investments.

For instance, an investment can even start out as a strategic investment but shift to a financial investment if it turns out the fit with the parent company is not as good as initially anticipated.

This can make it challenging for startups to know exactly what objectives the CVC unit has.

Hence, it is important to spend some time learning about the CVC unit’s position prior to investing and garner approval and opinions from the parent company.

Financial vs strategic investors

A financial investor has no desire to run the companies they invest in.

Sure, they might sit on the board and help with strategic decisions or even offer help with things like recruitment or accounting. However, the day-to-day running of the company is left to the founder(s).

This is different for strategic investors.

They invest in companies where they see synergies with their parent company. So, they may want a say in how to develop the product, which customers to pursue, which geographies to target, etcetera.

Some entrepreneurs may get surprised and suspicious when a potential investor has very specific opinions about things like this.

However, they should keep in mind that a strategic investor does this in order to make it easier for the startup to be integrated with the parent company through a partnership or acquisition later.

In other words: they are guiding the startup to build the product or service that has the most value to their parent company.

There is nothing wrong with this. But, the startup has to manage this relationship carefully so that they listen to the input while avoiding building something that is so specialized there is only one potential acquirer.

If the startup manages to balance the requests from the CVC with their overall strategies, this will be a win-win for both parties.

Aligning business collaboration goals

In addition to funding, many CVCs provide their investments with the opportunity to partner with their parent company.

The parent company could become a pilot customer or they could enter into a partnership on sales or marketing — basically any form of collaboration.

Partnering with a large company is a big validation for the startup which makes it a major part of their consideration when taking an investment from a CVC.

Misalignment of expectations around how quickly and how comprehensive a partnership will be is one of the most frequent issues that surface in the relationship between startups, CVCs and their parent company.

Many startups make the assumption that because the CVC is willing to invest a lot of money into their company then surely they will also provide the other help with the startup needs.

Also Read: Why e-commerce companies should go hybrid

It is also natural to leave most of this discussion until after the parties have agreed on the investment.

As a result, both parties might have contrasting expectations on how the business partnership should play out when they agree on the investment.

Startups are used to getting things done really quickly.

In fact, a lot of startups subscribe to the popular idea of a lean startup.

Simply put, this idea states that you should get your product in front of customers as early as possible so that you can learn what customers think and start improving.

For a startup, this approach makes sense given limited funds and having to quickly make as much of an impact as they can in order to raise the next round of funding.

Failing to do so means they go out of business.

Basically, a startup has everything to gain and very little to lose by launching early.

A big company has a different approach to this since they already have customers and revenues. Launching new products or services too early will almost certainly result in frustrated customers and complaints.

Because of this, big companies usually require rigorous testing and planning before anything new is introduced to their customers.

This is almost the exact opposite approach to what startups have.

In order to bridge this gap and give the partnership the best possible chances of success, both sides should come together to outline their shared expectations.

This should happen in tandem with investment discussions.

Understanding the CVCs investment process

Ideally, the investment process for a CVC should not take more time than a financial VC.

Given that CVCs compete with financial VCs for deals, they cannot afford to linger on important things.

CVC units often rely on the parent company for support in various non-core areas like legal or finance.

Unfortunately, this sometimes means that things take more time.

Also Read: “General awareness about entrepreneurship in Malaysia needs to go beyond selling food at stalls”

For example, the CVCs finances could be handled by the parent company’s finance department. These are the people that have a 60-90 days processing time on a regular invoice.

An investment is a non-standard transfer of a significant amount which might even trigger additional safety procedures like the personal signature of the finance manager or CEO (who happens to be on a two week holiday when your investment is being processed).

These kinds of delay can cause a lot of frustration with startups that are in a hurry to complete the investment and can’t understand why things are taking so long.

To avoid it, or at least prepare for it, startups should ask the CVC about their investment process.

They should clarify the internal steps the CVC needs to take in order to decide on the investment, complete the paperwork and transfer funds.

If any one of these steps seems to take an unnecessarily long time, startups should raise the issue early and ask if there is any way the CVC can expedite this.

End game scenarios

Say a CVC invested in your startup because it had strategic value for the parent company.

The intentions on both sides were for the parent company to acquire your startup when the product and market mature in a couple of years’ time.

Everything looked good. But then something changed.

Perhaps your product didn’t perform as well as they had hoped.

Perhaps the parent company changed their focus and is no longer interested in the market your startup serve.

For some reason, the acquisition is not happening. Now what?

For a CVC with a financial focus, one potential acquirer falling away should just be a bump in the road, even if it happens to be their parent company.

They would still want to assist you in finding other potential acquirers in order to maximize their return.

For a strategic CVC, it might be a little different.

If their overarching goal is to provide value for the parent company and your company no longer does that, then your startup would fail to achieve their goal.

So where does that leave you?

Ideally, they should be able to give you examples of investments where the collaboration did not go as planned, but how they helped the startup to find a good solution anyway.

Final thoughts

When reading this, it may be easy to think that raising funds from a CVC unit is a lot more of a hassle than a financial VC.

It is true that you have to put in more effort during the negotiation phase to get to know your CVC investor but it is only because a CVC might bring a lot more value to the table than a financial VC.

So to wrap this up, I would just like to mention five short reasons why you might want to invest that extra time to get a CVC investor:

1. They understand your business and its industry better than any financial VC.
2. They can offer access to network and resources that can be more valuable than the investment itself.
3. They might see fewer risks and more value in your company if it aligns with the interests of the parent company, leading to a higher valuation.
4. They are usually more patient than financial VCs because they do not have LP and a fixed fund life.
5. They can offer a route to acquisition so that founders have to worry less about fundraising and can focus more on building their business.

The advantages CVCs offer makes it patently clear that its recent emergence in SEA beckons exciting new opportunities for regional startups.

CVC might not be the right path for all startups, but for many, it is definitely something to consider.

Founders who understand how CVCs operate will be much more likely to identify the right CVC partner and have a successful collaboration.

—

This article was first published at www.cvcinsight.com

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

The post 5 things startups should know about Corporate Venture Capital appeared first on e27.

Entrepreneurs in APAC, are you up for a challenge?

TOP100 APAC 2019 is a programme organised by e27 that empowers insights, connections, talent, and funding opportunities for early-stage tech startups in Asia. This year, the programme has shifted to a private pitching competition and applications will close on 28 February 2019.

Meet 15 awesome startups who will be taking their first step to TOP100 APAC 2019 to get a chance to pitch at Echelon Asia Summit 2019:

REVSMART WEARABLE HK CO LTD – Hong Kong

Revsmart is developing a smart communication wearable and experience platform to help riders access communication, navigation, and music effectively using vibro-sound technology. Looking to solve the most pressing problems for bike riders, REVSMART is launching their Wearable helmet smart device “Heads Up” this year.

Pipeep – Bangladesh

Introducing the flexible-transit concept for a better transport environment to urban commuters. Pipeep’s mobile platform allows passengers to request shared on-demand shuttle bus service that travels from point-to-point between selected zones. Operates in morning and evening time to serve work purpose commuters. A solution that solves the city’s core problem caused by traffic congestion.

Unreal AI – India

The Vizor ID, created by Unreal AI, is a security device that uses face recognition, powered by art deep learning models, to authenticate employees with fast authentication and high accuracy. Highlighting its Multiple Authentication feature that allows up to 7 face recognition simultaneously and Built-in Visitor Management feature that able to keep track of unknown individuals and notifying the administrator, Vizor ID is recommended to be used at locations such as offices and schools.

iMoney – Kazakhstan

iMoney is a Biometric lender (ATM) that aims to tackle problems like lack of direct access to cash, human factors for requesting a loan and the long process of loan approval.

12Go – Thailand

12Go is a multimodal Online Travel Agency platform with coverage across 15 countries in Asia for purchasing tickets for trains, ferries, buses, flights, transfers, hotels, tours and insurances using Cloud-based real-time ticket booking and seat selection engine.

Horlu – Vietnam

Horlu helps you to create your website instantly by analysing your Facebook page content with an AI algorithm. Its content-first design approach intelligently creates sites built for your content with less time consuming and at a more affordable cost.

Bee Bush – Cambodia

Bee Bush is a fresh and unique social media platform which offers innovative and advanced features to enable users to search, connect, learn, having fun, and make revenue at the same time. It combines unique features such as profile feed, business page, and local business reviews with its user-friendly content searching filter system to help to enhance the visibility of its online business users.

Flexible Pass – Burma

Flexible Pass is a health and fitness App in Myanmar that can be used at over 100 gyms, fitness centers, and hotels in Yangon. Flexible Pass allows its users to access multiple gyms or fitness centers with one pass to tackle not just the lack of flexibility membership plan at the individual gym but also the wastage of membership fee on days you don’t go to the gym.

AgUnity – Australia

AgUnity’s solution automatically collects the most essential data about your product, starting on-farm and continuing through to the end consumer. We create a unique, detailed ‘track’ for every pallet; now your product has a story. This unprecedented visibility of your supply chain allows areas of waste & inefficiency to be automatically identified so you can understand the key issues to target.

Generalized Intelligence – China

Generalized Intelligence is an AI adoption accelerator who enables enterprises to unleash new efficiencies, productivity, agility, and competitiveness. Applying AI in drone tech, Generalized Intelligence also offers an end-to-end drone platform for developers to develop level 5 autonomous drones.

UniChat – Malaysia

UniChat initiated an App based student platform for students to meet and approach other students just by clicking a ‘Discover’ button. Individuals who are geographically close-by with similar interests would be paired up automatically, allowing them to start interacting instantly. UniChat brags many features such as UniDiscover, UniTime, and UniEat which helps make students’ life easier.

MEGPlay – Malaysia

MEGPlay is a gaming-focused platform in Malaysia (aiming to expand across SEA) for mobile gamers. Through MEGPlay, gamers can chat, join mobile gaming communities, and find team members. MEGPlay also allows users to join mobile gaming events and competitions, to purchase mobile gaming merchandise, and to get insights into gaming news.

Also Read: The culture of Echelon is the biggest draw for both speakers and participants alike

Positive Energy Ltd. – Singapore

Positive Energy Ltd. offers a renewable energy finance platform for smarter sourcing, funding, and trading clean energy assets. Using its blockchain based asset financing, trading, and management platform, Positive Energy Ltd. aims to solve the market issues by digitalizing the transaction workflow making green investments fast, liquid and economically viable for all parties involved.

Ssivix Lab – Singapore

SSIVIX LAB is the leading innovative technology and services company that is pioneered in bringing the products and ideas into Mobile Space with high quality together with providing cutting-edge services to the client. Launched its Medtech focused product MyCLNQ, a one-stop shop to take care of all medical appointments booking, last year, SSIVIX LAB is working toward innovation to provide a cost-effective solution in the healthcare sector to benefit the community and citizens.

Smarter Me Pte Ltd – Singapore

Smarter Me Pte Ltd is a live online school that offers classes in critical knowledge and skills for the future to children who aims to bridge the mismatch in what our children are learning in schools today and the skills required in the future economy. Smarter Me Pte Ltd is also working to build a community of students, educators, entrepreneurs, and future employers across APAC for the education ecosystem.

So what are you waiting for? These guys didn’t! Sign up for our TOP100 APAC programme at this link.

Just got your pitch deck ready? Drop it here.

Not a startup but keen to meet the e27 team while we tour APAC? We’re running a series of Echelon Roadshows (Founders Confession content session, networking opportunities and F&B provided), RSVP at our Eventbrite page.

The post Here are 15 awesome startups that will pitch at TOP100 APAC 2019! appeared first on e27.

Sometimes it’s not you, it’s them

Asking for funding from Venture Capital (VC) investors is likened to the same statistics of getting rejections from Tinder.

Okay. That’s not a good analogy, but you get the point — fundraising for your startup is tough.

I wrote in Aug 2016 on “How to think like a VC before asking for funding” which explained the official questions that VCs would be thinking.

Even though you may have a great pitch and a great proposition, VCs still reject investing in your startup.

During the conversations, they showed their support and financial commitments to you.

But, why then did they reject at the last minute? What gives?

When I was fundraising for my e-commerce startup 14 years back, I met 30 investors, but only three agreed to invest and I only raised 15 per cent of my target.

It became a lingering thought in my mind as to why I was unable to fundraise more despite my startup having great traction with the right ingredients.

Now, as a VC helping my startups get follow-on funding, I found myself in the shoes of an investor and came to understand the hidden reasons why VCs reject a potential investment.

These are reasons which are never mentioned officially, fueling your frustration as you wonder if you have done something incorrectly.

The truth is: it’s not you, but the VC.

So read on if you want to know what exactly goes on behind-the-scenes.

All capital is committed to existing investments

Startup founders have an impression that VCs have endless pots of gold ready to invest in startups at any one time.

That’s far from the truth.

VCs may have already committed fully to their funds, usually within the first three to five years (also known as the necessary investment period).

If you have requested for investments but have gone past that timeframe, there is no way an investment can be made.

Sometimes, they have already completed investing in their first capital call and could be waiting for a second call much later.

The investment period and capital call periods are usually well-kept secrets within the VC firm.

Despite no further funding allowed, VCs do not want to admit that they ‘ran out of money’.

Instead, they would want to show that they are still active in the game.

They would be willing to meet you to get updated with the latest technology trends or to obtain potential deal stories for their pitches to future Limited Partners for their next fundraising.

Difficulty in justifying to the investment committee

A VC firm is made up of partners, who will generally review and decide whether they should invest in a startup.

Some VC firms require unanimous approval, while some may have ‘silver bullet’ approval or majority approval.

How individual VC firms work is also a well-kept secret.

If you did not work directly with the Partners, it will be the job of the Principal, Associates or Analysts who will justify and fight for your startup to be invested to the committee.

If the VC is part of a corporate grouping, it may have even more clearance checks and approvals from other divisions or even higher management.

In every organisation, people always want to look good with their colleagues.

If the person supporting your startup finds it difficult to justify to the investment committee, he will look bad and loses his credibility.

It can be harder if the VC needs to get a unanimous decision.

Losing credibility could mean even more difficulty in getting investment approvals in future or even a promotion.

So, rather than taking the risk, that VC might just reject it outrightly.

The lack of trust in a founder

In Asia especially, trust is a very important trait that needs to be cultivated.

VCs don’t just give money for investment and walk away. They seek relationships.

They have to be working closely with the startup founder for a long time.

What’s more, it is about putting money into the hands of the founder and trusting the founder makes the right decisions and calls in spending that investment.

If there is no trust, the deal to invest will likely fall through.

After speaking to fellow VCs, I deduced that many startup founders in Singapore tend to be too transactional and Western-styled.

This is ironic as Asians are more focused on guanxi, the Chinese word for relationships.

Maybe it is due to the Singaporean meritocratic belief that one can work hard and be rewarded.

But, we forget that relationships are the ones that bind partnerships between investor and entrepreneur.

In my personal experiences, I found entrepreneurs tending to treat VCs like ATM machines.

Many entrepreneurs fail to be sincere and keen on developing a proper relationship.

There seems to be an urgent rush to get investments in without properly ‘investing’ in the relationship.

To me, it delivers a ‘one-night stand’ turned thoughtless-shotgun-marriage vibe.

At TRIVE, we take an average of four to six months in building friendships before considering any investment.

It is only after establishing trust when we can start being real to each other and this helps to mitigate any potential conflicts due to misunderstanding and mistrust in the future.

So until trust is built, it could be a probable reason why you got rejected for investment.

The VC had to choose between you and another startup

It sucks, but you were outshined by others.

VCs get many decks being submitted for review for investment.

TRIVE gets an average of 200 decks via online each month.

We barely have time to call not more than 10 per month for a meeting. Plus, we only invested in 3 last year, a 0.125 per cent chance of success.

I heard of other VCs averaging 1000 decks or more while their investment rates are considerably lower by a lot.

At every round of investment meeting, there will be unofficial quotas being set.

A list of investments is presented before the committee and they have to filter candidates, due to the limited deployment of capital.

Also Read: 5 things startups should know about Corporate Venture Capital

I recalled one startup seeking Series A which was a really good decent traction and scalable model.

Discussions were optimistic and the VC was confident in the investment committee’s approval.

Sadly, the startup got rejected for investments and upon some further prodding, I learnt that the committee could only choose one for that day, among the six that were presented.

Your startup doesn’t seem right somehow

VC investment is more of an art rather than a science, especially in early-stage investments.

There is not much financial data available, especially from a young company.

For professional VCs, prudent and detailed due diligence (DD) is done on the industry, market, background checks and competitor analysis.

But, even the best DD does not guarantee the full assurance of an investment.

VCs will then have to rely on their own gut feeling and intuition.

Despite how amazing a startup may be, sometimes there is an inexplicable lingering feeling that there is off.

Also Read: Here are 15 awesome startups that will pitch at TOP100 APAC 2019!

And once there is an iota of doubt, the deal does not go through.

I am too polite to tell you that your startup isn’t good

One interesting value of Asian culture is to be polite and adopt discretion when rejecting.

I have come across instances where a founder told me about his rejection from a VC with no reasons given.

It is only in privacy when my fellow VCs admit to each other why the startup is lacking.

When I asked why the VC declined to share the cause of rejection with the startup, the VC revealed his fear of coming across rudely.

Rather than providing constructive feedback, they just felt rejecting without reason would end the discussion cleaner and faster.

Concluding thoughts

When I ask entrepreneurs how they receive successful funding, they usually shrug and say, “I got lucky.”

There’s some level of truth in that statement.

While we can always say the startup has promising prospects, the hidden reasons why VCs would say no to an investment are variables one is unable to easily predict.

My advice is to accept these variables as part of fundraising and to keep persevering until you get the right investor on board.

—

Photo by rawpixel on Unsplash

This article is part of the “Startup Advisories” series, where I provide SEA startup founders articles on challenges my startup mentees go through. Discussions in this article were based on feedback from mentees, VCs and my own personal experiences.

Christopher Quek is a startup advisor and mentor to Singaporean entrepreneurs. His full range of SEA articles are found on christopherquek.com.

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

 

The post Hidden reasons why VCs reject your startup for investment appeared first on e27.

Malaysia’s homegrown innovators Katsana, Hostel Hunting, Swingvy, and CXS are cultivating a more human side of tech 

With the advent of tech, the race to innovate within the tech spectrum is largely focused on coming up with the “new.” From smarter algorithms, to artificial intelligence (AI), and even to augmented reality (AR) — the goal has always been to disrupt.

But more than disruption and awe, today’s tech innovators are constantly coming up with ways to improve human experience. By this, we don’t just mean using tech to promote greater convenience and ease in people’s daily lives. We mean solutions that impact the very nature of people.

These are solutions that help inculcate road safety discipline, democratise HR platforms for small and medium companies (SMEs), provide cheap lodging options for young people, and even ones that power human development through skills training.

True, some of the most interesting and most inspiring solutions out there are ones that are anchored on cultivating a better quality of life. These are solutions that transcend the common notions of convenience that saturate the market.

Because of this, we spoke to four of Malaysia’s tech startups to see what innovations they’ve come up with and how those innovations are hinged on helping improve human lives.

Safety first for drivers and passengers alike

According to Malaysia’s Ministry of Transport, a total of 7,152 recorded deaths up to 2016 are due to road accidents. This data places Malaysia on the 18th spot when it comes to the road fatalities index in the world.

With a total number of registered vehicles accumulating to 27.6 million, how do you fully inculcate road safety to such a significant population of drivers?

Katsana, a tech startup that pioneered the next generation GPS tracking and fleet management system, came up with a solution that helps train drivers to become more safe on the road: DriveMark.

A mobile telematics app, DriveMark scores the way you drive using mobile phone sensors to spotlight risky driving patterns and behaviour. By introducing a gamification and rewards approach, drivers are encouraged to reach a higher level of safely on the road.

Drivers may also enroll into monthly contests that come with free personal accident insurance and rewards from their partners as a further incentive for further protection.

With the Katsana Advanced Telematics, the team has gained significant experience from its initial launch in 2013 especially in understanding driver behaviour patterns derived from sophisticated telematics data from vehicles, which has allowed them to precisely score driving risks.

Katsana came up with DriveMark as a way to democratise this unique information and apply their technical know-how on a mobile app in the hopes of helping as many people as possible—all through data analytics and impactful engagement.

“When we look into conversations surrounding safe driving, it’s predominantly a discussion of deterrence through penalization and tend to be reactive instead of being proactive,” said Syed Ahmad Fuqaha, CEO and co-founder of Katsana. He added, “with DriveMark, we associate safe driving with positive cues which comes in various forms; acknowledgement that you are driving safe, rewards, prizes, rebates, discounts and social recognition.”

Katsana wants DriveMark users to also be part of their mission — to be ambassadors of safe driving. They believe that having clusters of people who are truly passionate about safe driving helps them grow and spread the word to like-minded people; and hopefully, to have that passion spill over to larger part of the community.

By 2017, Katsana had analysed 460 million kilometers worth of travel data, collecting approximately 1.2 to 1.4 million kilometers of data on a daily basis.

Also read: MaGIC or no MaGIC, Malaysia’s startup ecosystem is bound to flourish!

Creating livable spaces for the Millennial generation

The comparison between the Millennial and Baby Boomers generation includes the premise that while one generation could afford housing at a comparatively younger age, another could not even even manage long-term rentals for spaces with proper living conditions.

However, this debate ignores the contextual differences between in the two very different socioeconomic realities happening in at different times in history. Baby Boomers sometimes point to Millennials’ inability to sustain proper living spaces without realising that today’s world demands different priorities.

Meaningful innovative solutions often arise from necessity. One such innovation grounded on helping young people find affordable and professionally managed long-term spaces is Hostel Hunting.

Hostel Hunting started as a student rental marketplace. The idea was simple: to get landlords to list with them and provide the supply, and then connect them to the potential tenants who make the booking.

In 20118, they introduced HH+ Rooms – affordable rooms that are professionally managed by Hostel Hunting from renovation and furnishing to daily community management, home maintenance, and tenant living experience.

Widening their market beyond catering to University students, Hostel Hunting now provides rooms to accommodate both the youth market and young adults. HH+ is a full stack proptech and propserv solution.

In the B2B sector, Hostel Hunting helps companies to provide housing needs for interns, foreign students, and outstation staff.

“More people are looking to rent rather than owning a place of their own. Despite that, tenants are still required to do the nitty gritty such as buying their own furniture, DIY, or hire cleaning services to maintain their homes. We want to provide and shape a better living experience for our tenants,” said Wen Khai, CEO and co-founder of Hostel Hunting.

In addition, for the tenant side, he said, “We guarantee [owners] a higher rental yield, hassle-free operation, and the HH+ living experience.”

Hostel Hunting believes the trust and support won both from their customers and the quality of their investors, has positioned the business well —especially with offering and shaping an improved living experience in the home rental landscape.

Also read: HostelHunting raises Series A, aims to “aggressively” drive further regional growth

An HR solution for all 

One of the most visible indicators of performance gap in industries is a company’s capacity to digitalise its data. While most large corporations have the resources to implement Enterprise Relationship Planning (ERP) solutions, the majority of SMEs in this region are stuck with past manual HR practices involving tons of papers. Often, the companies turn to regular spreadsheets, or outsourced payroll agents.

In many instances, the simple process of managing pay slip distributions and leave applications are paper-based —open to the possibility of human error, and unnecessary costs.

This challenge to a company’s limited resources often leaves companies stranded in that predicament. To address this, digital HR system provider Swingvy decided to help fill in the gaps. By seamlessly connecting HR information, Swingvy automates all administrative work — employee onboarding, core HR, leave application, payroll, and benefits administration — in an efficient manner.

The tech evolution of HR systems is not new, having started more than a decade ago. What differentiates Swingvy is its “freemium” business model, which allows users to register and use the solution for free and without any time lock.

Also read: Swingvy, an online HR platform for SMEs in Southeast Asia, raises funding from Aviva

Swingvy democratises its HR system in two ways: first, the platform runs on the Web without the need to pay for any licenses, hardware, or maintenance fees—making it perfectly accessible to both large enterprises and small businesses. Secondly, it allows everyone in a company to use the software in a instead of just HR admins.

The only time the product is monetised is when satisfied customers choose to add on to the range of services they want from Swingvy, and can then decide to unlock premium features.

Since Swingvy is an all-in-on HR platform, the premium package integrates the payroll and the benefits platform, promoting full transparency for both admin and employees.

In addition to helping SMEs cut costs and save time, Swingvy administers its HR system to global standard user experience. To fully compute a company-wide payroll system, the automation takes about 10 minutes to produce results.

“It doesn’t make sense for companies to go through the unnecessary challenge of building their own HR software. Our HR platform, besides managing admin and employees’ HR related information, also integrates and automates with the country’s statutory and banking files,” said Jin Choeh, CEO and co-founder of Swingvy.

In 2017, Swingvy was the first Malaysian startup to win the Arena Battle in Tech in Asia and become a part of e27’s Top 100. It is one of the youngest companies to be awarded “Malaysia HR Technology Entrepreneurial Company of the Year” by Frost and Sullivan, and is set to appear as one of the 10 finalists in Asia to pitch in the first Google Asia Demo Day in Shanghai.

Lifelong learning and human development through tech

With the impact of advanced industrialization trickling down to the grassroots, it is important to ask the right questions on exactly what changes the workforce has to make.

“How will working be different? How will the way we understand ‘employability’ shift? How will ‘gig economies’ change the way small and large companies hire? How is it possible to close the gaps between education and employability? How do we bring valuable talent data out of the silos in which it typically resides to construct meaningful pictures of future workforces? How do we help individuals become self-driven lifelong learners?”

These are all critical questions raised by Malaysia-based tech startup CXS.

CXS is a learning analytics company with the capability to manage talent development from education to employability with a focus on preparing national workforces for the ever-changing demands of what is known as the 4^th Industrial Revolution.

Essentially, CXS provides a suite of products, services, and solutions augmented with technology to power human development and promote lifelong learning.

With their analytics system, CXS helps clients with a range of issues including the implementation of improved recruitment and hiring solutions, talent management, and executing large-scale upskilling and reskilling programs.

Also read: Malaysia hosts Create@Alibaba Cloud Startup Contest, enables 15 ASEAN startups to go global

“Talent acquisition and talent supply is now a major macro-economic factor affecting all industries to differing degrees. We help our clients get data out of silos and put it to work to solve problems. Good examples of the kinds of problems we typically help solve are: locating top talent to drive the growth of emerging industries, or helping find the local talent to secure direct foreign investment in key industry sectors,” said Jan Lambrechts, CEO and founder of CXS.

In addition to what the talent pool looks like currently, clients need to know where the to find potential talent. CXS believes that the best way to answer problems posed by advanced industrialization is through better hiring, smarter learning, and evidence-based outcomes.

While CXS is maintaining a strong focused on the ASEAN region, it is rapidly expanding to other parts of the world such as the Middle East and Latin America.

Malaysia is becoming a hub for tech innovators 

Among Malaysia’s strengths is that it is operating as a microcosm for the Southeast Asian ecosystem. Hostel Hunting believes that localisation in the region is effective because the fundamentals of putting up a tech startup is established in Malaysia, making it a suitable platform to scale up into different territories.

While Hostel Hunting is a beneficiary of government support and guidance though MDEC, Cradle, and Magic, itt is also noteworthy that Malaysia’s startup ecosystem in Malaysia is very supportive of each player.

Swingvy is also contributing back to the startup community with the launch of a programme offering 90% discount for the use of its product for startups in Malaysia and Singapore.

Funding also poses an important role for many players. “Being a tech startup involves heaving in machine learning and predictions. We would not be here without a government grant early in our days,” said Fuqaha of Katsana who credits much of their success to state-sponsored financial support.

Meanwhile, CXS believes there is no doubt its early and rapid growth was made possible by the invaluable support received from agencies such as MDEC and TalentCorp. CXS highlights that the private sector has been equally amazing, demonstrating their willingness to collaborate and innovate. This is important because it sets an example for other countries in the region—truly a case of “Malaysia Boleh!” or “Malaysia can!”

How to take this to the next level

When asked what Malaysia could do better in terms of supporting startups and innovation as a whole, DriveMark creators suggested, “Allowing budding entrepreneurs to experiment with technology and innovation right after secondary school by funding innovative ideas. Start with a fund as small as RM2000-5000 with no expectation of return. If any of the ideas grow, then nurture it with bigger fund or assistance to help it go to market.”

Swingvy creators echoed this sentiment, saying that education plays a major role. Support should start from education, especially since Malaysia has always had the talent potential as well as the resources.

They believe that it’s always best to have innovation and entrepreneurial thought nurtured from a young age. This means, the government should acknowledge that the previous educational system has not addressed this this area, and that private institutions should create and invest more funds to build a stronger startup ecosystem.

On the other hand, Hostel Hunting believes that Malaysia could benefit from better public awareness and understanding of the ecosystem landscape.

All the four startups—Katsana, Hostel Hunting, Swingvy, and CXS—believe that to holistically enhance the growth and impact of tech innovators requires adequate funding, sufficient support to nurture creativity, and educating both the players in the startup ecosystem as well as the general public. This will nurture better tech innovation and continued enhancement of human experience.

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Featured Image: 123RF

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