Companies out to dazzle you with their brilliant startup products — check them out at the Echelon Asia Summit 2019

There are lots of great reasons for you to come to Echelon Asia Summit 2019! With more than 15,000 people attending from over 30 countries, the Echelon Asia Summit brings together a full-range of personalities across the field of tech: from tech enthusiasts, to up-and-coming startup founders, and even to leaders and experts! This makes Echelon Asia Summit 2019 the perfect opportunity for you to brush elbows with potential future partners, investors, colleagues, or other like-minded people who might appreciate your ideas!

More than 120 speakers will also be sharing key insights on emerging trends and disruptive technologies across four key stages, namely: Founder stage, Future stage, Capital stage, and the top 100 stage—where 100 of the most promising startups will be pitching live!

Also read: Taking Echelon Asia Summit 2019 to a new level with 13 more exhibitors!

And finally, one of the key features of Echelon Asia Summit 2019 is how it will showcase some of the most brilliant startup products in the region. With 300 exhibitors that will sprawl all over Singapore Expo, participants can witness firsthand how these companies are changing the world.

So without further ado, here is the fourth set of Echelon Asia Summit 2019 exhibitors!

 

Sparadise Asia

 

Sparadise connects you to the best therapists and delivers them to your doorstep, so you can enjoy quality spa service wherever you are.

 



Soft Solvers Solutions

 

SoftSolvers offers fully customisable business automation solutions designed to improve productivity for medium to large corporations.

 

Sendbird

 

SendBird is a fully managed chat solution for enterprise mobile and web services. SendBird powers in-app conversation for the world’s leading companies including GO-JEK, Tokopedia, Carousell, and over 12,000+ other applications.

 

Sunday Insurance

 

Sunday is a full-stack InsurTech that uses AI and digital platforms to offer personalized insurance products and services.

 

Qlue Performa Indonesia

 

Qlue helps solve urbanisation problems and promotes transparency between governments and their citizens.

 

Musiio

 

Musiio is artificial Intelligence for the Music Industry.

 

Cognifyx

 

Cognifyx is a cognitive and behavioral science company.

 

Rentickle

 

Rentickle enables renting of lifestyle products like Furniture, Appliances, and Fitness items. It operates as a combination of Asset Ownership/Asset Financing/Market place model.

 

Simply Giving

 

SimplyGiving.com is Asia’s leading crowdfunding platform for social impact. They are inspired by the power of the Internet to do Good.

 

Outpost

 

Outpost is a network of co-living, co-working, and social spaces designed for the fast-growing international community of remote professionals, creatives, and digital nomads.

 

Bambu

 

Bambu is a robo-advisory solution provider offering savings and investment applications for web and mobile.

 

Kdan Mobile Software Inc

 

Kdan Mobile fosters ways to create contents and boost productivity with modern technology, especially on mobile devices.

 

Papaya Insurtech

 

Papaya digitises the entire insurance customer journey from quotation, to application form, underwriting, and claim management. Leveraging technology such as OCR, AI/ML to enhance customer experience.

 

Sakay

 

Sakay enables the analysis and navigation of informal transit networks.

 

Mosaic

 

Mosaic offers cloud-based profit optimisation solutions to the hospitality industry. Products include inventory management, POS, purchasing and analytics.

 

Where to get tickets for Echelon Asia Summit 2019?

 

Catch this stunning set of companies showcase their brilliant work and more at the Echelon Asia Summit 2019! The event is happening from 23 – 24 May, at Hall 3A, Singapore Expo, 1 Expo Drive, Singapore. We don’t want you and your team to miss out on the important insights that will be shared by our speakers there, so get your Echelon Tickets today!

The post 15 more companies will join us as exhibitors for Echelon Asia Summit 2019 appeared first on e27.

With the New Protein Fund, Big Idea Ventures aims to tap into opportunities provided by growing interests in plant-based diet

New York- and Singapore-based venture capital (VC) firm Big Idea Ventures has made the first close of its US$50 million plus fund that is aimed for companies working on the development of new protein alternatives –or meat replacement.

US meat supplier giant Tyson Food has backed the fund, which also included anchor investor Temasek.

The fund has already made its first close in March and aims to close with the targeted number within the next 12 months.

In an interview with e27, Big Idea Ventures Managing GP Andrew Ive explained that in the first stage of investment, the firm plans to invest US$250,000 in about 100 global companies.

Twenty-five to 50 of those companies will be based in Asia while the rest will be based in North America.

“Within the next two to three years, we will start looking into China and Europe,” he said.

Also Read: Zone Startups announces winners of second annual Next Big Idea contest

There are three categories that the New Protein Fund is focussing on: Plant-based food products, Plant-based food ingredients and technology, and cell-based meats.

The New Protein Fund has made its first investment into Shiok Meat, a Singapore-based startup that is developing lab-grown seafood and meat.

Co-founded by Sandhya Sriram, PhD and Ka Yi Ling, PhD, Shiok Meat harvested crustacean “meat” from cells instead of animals.

Meatless market

According to a report by Zion Market Research, the global plant-based meat market will reach US$21 billion by 2025.

This might just be the reason why Tyson Food, being one of the major players in the meat industry, is making moves to expand to the plant-based market.

In early March, Bloomberg reported that the company is set to “accelerate and develop” a new protein business line, and has even appointed a chief sustainability officer.

The New Protein Fund itself is the first venture capital fund Tyson Food has ever invested in.

When we talk about the reasons why Big Idea Ventures decided to focus on plant-based meat, Ive pointed out that people are becoming more open to a “flexible” eating habit.

“More and more people are moving towards flexitarian, plant-based lifestyle … Beyond Meat

are moving from the vegetarian section to the meat section in the store; meat-eating people are more prepared to give the products a try,” he said.

Ive said that in the next five to 10 years, there will be more companies that respond to consumers’ needs for a variety of great-tasting plant-based food, especially as consumers become more aware of the environmental and health impact of consuming meat.

This is the opportunity that Big Idea Ventures is trying to tap into as a VC firm.

In principal, as a VC firm, there are several criteria that Big Idea Ventures is looking for in a potential investment.

Also Read: What will be the next big thing in tech? Find out at the FUTURE stage at Echelon Asia Summit 2019

In addition to impactful ideas and market opportunities, they are also a believer in the importance of investing in human resource first.

“I have invested in companies where the product needs a lot of work but they have such a good team. I knew they would be prepared to improve or change the product,” he said.

 

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Risk management is an art

As technology advances and young talent become more enterprising, startups are becoming the face of the future.

Starting a business isn’t easy and sustaining it is even harder. There are many risk factors associated with startup ventures and key guidelines that need to be followed in order to enjoy a profitable and successful business.

If you analyse and understand the risks involved and the mistakes which are likely to be commonly done, it would be rather easy for you to drive a secure and successful business.

Major reasons why startups tend to fail

Lack of demand in the market
While an innovative idea may seem interesting or fruitful to a business owner, it isn’t the case from the business perspective. The demand for that business may not be that high in the market, meaning that the startup would most likely experience a lacklustre performance.

There are chances of the business existing in abundance already or not needed at all. In either of this case, there will be no market for that business and causes the startup to fare poorly.

Misuse of funds
In a bid to prove that their startup idea is worth it, business owners tend to mismanage their funds, not looking at the after effects.

Every business owner has finances but what they need is a smart and cautious management of their finances. This is one area which becomes a root cause for failed startups. Only having money isn’t enough, putting it to its best use is important.

Managing a diverse team structure
Startups will need a multi-faceted team structure, possessing skills in diverse technologies and project management areas.

Generally, it is noted that startup business owners do not have that in-depth vision of building a collaborative team right from the beginning that is self-sufficient in terms of skills, technological knowledge and project management methods.

Even fundamental technical expertise is needed for owners to better judge the entire business scenario in the best possible way.

Offering equity to too many team members
When the startup is new, business owners tend to involve many equity shareholders in order to make the venture cash rich.

Although it might sound right at that time, it tends to get unmanageable and becomes one of the prime reasons for startup failure. Even having too many team members could lead to haphazard business functioning.

Also Read: Big Idea Ventures gets first close of US$50M+ New Protein Fund, invests in Shiok Meat

Feeble marketing strategies
After all, marketing is the key to reach out to widespread audiences. Startups need to have their marketing policies in place well in advance else they are bound to bear the brunt of it.

In this fiercely competitive world, without enough and well-planned marketing plans, there are fewer chances of business expanding far and wide.

Risk areas startup entrepreneurs faces

1. No startup offers a stable income right from the start. Entrepreneurs must be well prepared for an uneven way of income for the first few months. What is important is to sustain your business amidst throat cut competition rather than wanting a steady income.

2. Startup ventures need to be careful about competition and disruption both. Though both are inevitable and play a significant risk role in the success of any startup business, what entrepreneurs must do is keep aware of these from the beginning, to avoid its negative impact.

3. Undefined variations in the global currency could lead to a huge risk. With globalisation as the latest jargon today, entrepreneurs need to be careful while engaging in any kind of financial exchange either as a supplier or as a receiver.

4. Leaking your confidential information is yet another risk area that could create hassles. Cybersecurity is a prime area of concern for startup business owners. There is so much private information (company and self) involved that its security plays a very important role. Compromising on security could lead to disastrous results in terms of productivity, profitability and customer satisfaction.

5. Shelling out your own private finance for your startup to start off, is yet another big risk area. At the start, entrepreneurs may need to do that but what is required is enough thought to the point that if that finance is used up in business, there is nothing to fall back, on our personal front.

Key approaches for a successful startup

Have a complete focus on designing and developing the product
While indulging in any startup venture, the prime factor is the startup product itself. There should be a complete undivided focus on that, by the business owners and their teams. Thinking about other important areas like marketing, sales, finance, etc. should be done later so that there is no compromise of quality in the product build. This ensures utmost quality and standardisation, offering more chances to a successful venture.

Start off with a small base and large vision
What startups usually do is have a large end focus and planning right from the beginning. They tend to forget that they are in the startup phase. What should be done is that business owners should take small and steady steps in the start towards building a small stable and secure startup. Once that is established, there are ample of opportunities for building it big with fewer risks and more fundamental stability involved.

Perform in-depth analysis from information available
Be it risk assessment, predictive analytics, trend forecasting, etc., there are many areas that can be scrutinized in detail for better futuristic moves. There are many advanced tools available to help extract the best of information from the huge chunks of data, in your desired format. Make the most of BI and Big Data for the same.

Be a wise trend follower and grab foreseeable opportunities
As opportunities knock the door, it is very important for startup authorities to keep a close eye on them and grab them as soon as they are encountered. Of course, with a full proof thought to its repercussions, these opportunities could change the face of the business for the better. To grab these chances, startups should devote a sector of time and energy in observing and following trends in the market and understand the prevailing market scenario. They should also study the predictive future analytics to perceive what could come next.

Keep replicating success factors as the startup flourishes and grows
When a startup venture succeeds, there are certainly promising and basic success factors attached to it, that lead to its success. Once the startup is grounded and in place, business owners should purposefully try to replicate these success factors for a business to come and thereby stay grounded to the fundamental vision of the business. This set of success criteria should always be remembered and deployed in upcoming actions to be taken.

Embrace automation wherever you can
The year has seen many advancements in automation and the coming year will show many more. To stay abreast with today’s business norms, automation, wherever possible is a must. Startups need to evaluate, analyze and adapt to automation processes in whichever areas it can. This will not only increase efficiency, profitability but also ensure a cutting-edge business involvement.

Spend more time, money and energy into skilled expertise
After all, the crux of success for any startup venture is the quality that it delivers. This is possible only if there is a skilled and proficient team available to deliver the same. Good quality resources will garner successful business and will keep continuing to give good fruits as compared to efforts put.

Calculated risks are a must
As such, risk management is an art. No business can kick off without taking any risks, startups are no exception. But, yes, risks taken must be ascertained, calculated and analyzed before plunging into them. Risks would help individuals come up with innovative ideas, enhance creativity, increase productivity and thereby augment RoI for the startup venture.

Understand your client portfolio in advance
While building your startup venture, it is important to understand the client’s needs, perception, and aspiration. This forms a pillar of success for the business.

Until the customer requirements are understood in depth, it is not possible to build a solution that works as per their needs.

Create the right balance between time, money and effort
Among the three major parameters that are important for any business, it is critical to strike a balance between time, money and efforts, in order to come up with the best of results. Any of them, going haywire in proportion, will lead to an imbalance in the charted project plan.

Also Read: Singapore startup scene should view next decade with cautious optimism

A parting note

Here you go, with the startup industry’s key risk areas, best practices and reasons for failure. Owning your own business is always an exciting, challenging and tough task. With multiple types of startups cropping up every year, the parameters to be ascertained also change year by year.

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

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Traditional accelerators in Thailand are not suited for edtech, as they focus more on the ‘typical tech startups’ with emphasis on synergising with the corporates’ main businesses

While its neighbours in Southeast Asia made good progress in edtech in the last few years, Thailand didn’t make much of a progress due to several reasons. A few months ago, 500 TukTuks‘s Managing Partner Krating Poonpol decided to change this, and in early 2019 he launched accelerator StormBreaker Venture to help edtech startups address various challenges.

StormBreaker’s mission is to inspire and impact the Thai education system and has support from various organisations, including Disrupt Technology Venture and KBank’s Beacon Venture Capital, to leverage edtech transform the education system in the country.

In this interview, Pat Naranpat Thitipattakul, Investment Manager at 500 TukTuks and Accelerator Manager at StormBreaker, talks about the project, its objectives, and Thailand’s edtech market.

Edited excerpts:

There is a handful accelerators targeting different kind of tech startups in Thailand, including edtech. Why an exclusive edtech accelerator is vital now?

There have been accelerators in Thailand, but not a single one focused on edtech. Many accelerator houses are the spin-off of corporates — telcos (AIS, dtac, True), banks (Digital Ventures, Krungsri RISE, etc) or conglomerates (SCG Sprint, PTT, etc). These programmes are not suited for edtech companies, as they focus more on the ‘typical tech startups’ with emphasis on synergising with the corporates’ main businesses.

From our hackathon earlier in 2018, we saw first-hand the problems and struggles faced by edtech companies. We believe that creating an exclusive edtech accelerator is vital in order to help these companies overcome challenges. The reason for this is that edtech companies require certain distinct support/help that is different from usual startups.

For example, customer acquisition. It is difficult for a lot of edtech startups to go direct to consumers because their consumers are students. They have to work with partners and go through schools/corporates, instead.

Can you share more details about StormBreaker? How is this this accelerator different from traditional edtech programmes?

Stormbreaker is different because we combine the best of both worlds — the education world and the startup world. From the education side of things, we are grateful to be able to onboard great partners such as Thailand Development Research Institute (TDRI), Thailand Education Partnership (TEP), and TCP’s Jai Krating Foundation, which is very well respected and well-connected in the education scene.

Whilst from the startup world, we leverage Disrupt and 500 Startups’s strong network to be able to onboard mentors of the highest quality to support these entrepreneurs.

What are the key objectives of the programme?

The following are the key objectives of the programme:

1. To equip founders with all the necessary soft and hard skills to become a great founder.
2. Provide the right network and connections to key players in both the education industry and the startup ecosystem.
3. Open up access to customers both directly and indirectly (through corporate partners).
4. Provide credibility, awareness and PR for the startups.
5. Assist and ensure these startups secure funding for future growth.

What are the different criteria for startup to apply for your programme? How is the selection process?

We’re looking for edtech startups that have the potential to solve Thai educational issues, impact as many people as possible, and have at least a functioning prototype. It could be a solution for either the education sector or HR talent development. The team must be passionate about education.

The areas we are interested in are English for All, STEM and Coding, Cloud-powered School, Teacher of the Future, reskilling professional or any other area that would solve real education pain points.

Why did 500 Tuktuk choose to partner with Disrupt Technology Venture and Beacon Venture for this project? What is the role of each company here? Can you share more details about this partnership?

Disrupt Technology Venture, founded by Krating Poonpol in 2012, aims to build the startup ecosystem in Thailand through entrepreneurship education programme and corporate innovation service, bringing Silicon Valley know-how to Thailand. Disrupt Technology Venture has over 2,000 entrepreneurs in their network.

From 500 Startups’s view, working with Disrupt Technology Venture gives them the best deal flow on tech startup deals in the country. Since Disrupt has been educating entrepreneurs since 2012, 500 Startups believes that they would be the best partner to run an EdTech accelerator.

Also Read: Thai startup ecosystem is 3 years behind Indonesia: Krafting Ponpool

Beacon Venture is a corporate venture capital under Kasikorn Bank, one of the leading banks in Thailand. Kasikorn Bank actively supports several education projects and they also foresee the needs for talent reskilling, especially in the digital disruption era. We both believe that edtech startups can make a lot of impact in this area. 500 TukTuks and Beacon Venture considered the potential of EdTech to transform countries and this is going to be a very interesting market in the future.

Are educational institutions in Thailand ready for tech adoption? Are there any initiatives from the government side, which aims to transform the sector through technology?

It depends. The top international schools have long adopted and integrated technology into their system. Public schools and universities are slowly following suit, as key players and incumbents are starting to realise the importance of technology in education. This is very positive for edtech companies.

We learned that many educational institutions would like to try new technologies, but due to the strict regulations, they hesitated as they do not want to take any risk. Their key performance indicators (KPIs) focus mostly on improving students test score, and does not directly promote technology adoption.

The government has launched some initiatives to promote access to education such as free online courses and infrastructure funding. There are some efforts from government side to partner with private sectors to, at the first stage, set up tech infrastructure like computers and Wifi. We hope to see more initiatives to promote EdTech adoption once the infrastructure is ready.

Affordability of and access to edtech solutions are going to be major impediment in rural Thailand. How can edtech address this challenge?

We want edtech to focus on developing the best learning solutions that provide learners with the most effective learning experience. Our partners can help them with the distribution in multiple ways.

As for affordability, if a solution is proven, our partner would consider sponsoring the edtech startup as part of their CSR initiatives. This way the startup would be able to give out some accounts for free or reduce the price for underprivileged kids.

Many edtech companies also offer freemium model.

In terms of access to edtech solutions, many CSR projects give funding to schools to allow them to build necessary infrastructure such as PC, internet and tablet. Through edtech collaboration with these CSR programs, edtech firms will be able to launch their solutions in rural areas. With the increasing trends of tech adoption and internet penetration in Thailand, we want to make education accessible for everyone.

You mentioned that your goal is to help transform the learning experience of one million people by 2020. Can you elaborate this. How are you planning to achieve this ambitious goal?

By supporting the edtech and helping them with distribution, we help them to reach as many users as possible. In 2018, we were able to reach 150,000 learners. We saw that if the solution could actually solve user pain and deliver good experience, the number of users would increase quickly through word of mouth. We will also continue to work closely with our partners in order to onboard schools.

As for the corporate sector, we help connect edtech startups to HR professionals from companies in our network. Each company has thousands of employees and we do believe that edtech is the most efficient way for companies to manage employee learning path and development.

What are some of the key characteristics of Thailand’s education sector? What are the unique challenges it faces?

1.  Lack of qualified teachers: The system in Thailand does not fund and incentivise the best and the brightest to become teachers.
2. Large difference between students: There is a very large dispersion in the education of children in Thailand. The quality of education between the rich and the poor is vastly different.
3. There is a big focus on rote learning (memorising) and heavy emphasis on exams.

StormBreaker kicked off with five startups in September last year. How is the programme progressing?

Four of the five startups from StormBreaker’s first batch have graduated, having gone through an intense action-packed accelerator programme, and are now ready to scale up their impact (the fifth startup ‘Quest’ decided to drop out of StormBreaker, as they got an offer from another programme). Key activities in the programme include intensive bootcamp sessions & workshops, exclusive mentoring sessions, B2B meetings, and demo-day pitching.

The four startups are:

Vonder: Vondor is an educational chatbot pioneer which has already transformed the way 70,000 students learn, in addition to 30,000 more working professionals. They grew their user base of 10,000 students to 70,000 students within six months. Vonder started with a team of five in the beginning of the programme, having only one business model (B2C). Through the programme, they have discovered unmet needs in HR learning solutions, so they’re able to come up with a new business model (B2B) which generated a new income stream. They have already acquired more than 3 clients that are big corporations.

Voxy: Voxy is an English learning platform, which utilises AI for personalised learning. When Voxy joined our programme they were still new in the Thai market and had no clients back then. The founders shared with us that our programme has helped them learn how to move fast like a startup and given them access to more B2B clients. Within four months, Voxy has been able to secure B2B deals valued eight million THB and launched pilot projects with over 10 organisations in Thailand.

InsKru: insKru is uniting forces across the nation to enhance the way Thai teachers teach by disseminating ideas to over 38,000 teachers. The team started with three co-founders, who are passionate about education and they all had experiences volunteering in the education sector, which have given them deep knowledge of teacher, school and student pain points. The StormBreaker team has supported their operations, given PR visibility, and helped connect them with CSR departments of many corporations. InsKru has expanded from just the platform to an online-to-offline teacher community by arranging teacher skill development workshops in many provinces of Thailand. They successfully built an active community of teachers, who want to create an impact on Thai education. Today, their social media has over 16,000 organic shares, reaching thousands of teachers.

OpenDurian: OpenDurianis an education platform boasting revenues of over 49 million THB, this startup aims to breed more than 500,000 skilled talent to prepare and respond to the impending digital disruption. The team consists of academic professionals. The company has been in the market for more than five years. Our mentors have helped them come up with plans to launch new product in the area of professional re-skilling, leveraging their presence in the online tutoring market with over three million users, who are university students. In addition to that, joining StormBreaker has opened up the door for them to new partnerships as well as fundraising opportunities.

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By securing spotlight sessions for Taiwan startup partners, AsiaIOA can support them to better expand to Southeast Asian markets and gain brand awareness

Echelon is all about making meaningful connections across the Southeast Asia startup ecosystem and beyond. We are thus proud to share that e27 has partnered with AsiaIOA, with a highlight on the TOP100 Fight Club, part of Echelon Asia Summit 2019, happening on May 23-24 in Singapore.

Formally launched in 2018, AsiaIOA is a Taiwan-based service-provider for institutions of higher learning, corporate accelerators, and government innovation agencies, focused on connecting startup ecosystems between East Asia and Southeast Asia. This is done through offline events management, programme curation, and startup mentoring.

“Though newly founded in 2018, the team has had at least 10 years experience in the East Asia startup ecosystem with a deep dive in Taiwan,” says Kevin Ho, Co-Founder and CEO of AsiaIOA. “We would like to take this opportunity to expand into the local Southeast Asia startup ecosystem while working with e27 and Echelon to showcase our capabilities and startups to the regional attendees.”

Kevin adds that shared values have contributed greatly to furthering this partnership. “We’ve been working with e27 for almost two years, and since then we’ve known the values that e27, as a Southeast Asia-based online and offline startup platform, can provide.”

The official partnership begins in 2019 with a Memorandum of Understanding between e27 and AsiaIOA to further the collaboration at events, including Echelon Roadshow, TOP100, and Echelon Asia Summit. “It will be a good initiative to kickoff this partnership by providing our startup partners from Taiwan with the pitching and showcasing opportunities,” Kevin adds.

Also read: 5G Technology: how Taiwan’s APTG Accelerator Programme is approaching the future of tech

According to Kevin, Taiwanese startups are good at product and technology development. “However, little do they know how to market and promote themselves on an international stage.”

“We hope that via securing these spotlight sessions for our Taiwan startup partners, we can support them to better expand to Southeast Asian markets and gain media eyeballs to raise brand awareness,” Kevin concludes.

Set for May 23 to 24 at Singapore EXPO, Echelon Asia summit is at full force, bringing together the region’s startup ecosystem in two days of rich discussions, mentoring, networking, and deal-making. Register now for your tickets.

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