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Sequoia wants to help young companies get their product right at #Echelon2019

“It’s what you do in the dark that gets you in the light.”

Get insights from the best of the best at Echelon Asia Summit 2019, happening on May 23-24 at the Singapore Expo. Get your free Starter tickets here.

An interesting realities about running a startup is the fact that early decisions often impact the ability for the company to scale when it grows. A clunky product might hold back a fantastic business model. Truly global companies usually build a product that fall into the category of, “the more you use it, the more you love it”.

Once we get past the ideation stage, startups are all about company building — it’s execution over everything.

But how exactly should an entrepreneur go about ensuring their product has what it takes?

Pieter Kemps, a Principal at Sequoia Capital, will be speaking at Echelon on how early-stage startups can shape products, build for scale and create categories in Southeast Asia.

The VC will talk about what that means for Founders – and how they can build and tap their network for help, hacks and hands-on expertise.

Kemps has a long history in Product Management — having started a company in Japan at a young age. According to his company bio, he is fascinated by the idea of building something from scratch.

This requires hard work, tenacity and an ability to take feedback. Kemps mentions a quote from Michael Phelps in his bio,

“It’s what you do in the dark that gets you in the light.”

In many ways, the parallels to entrepreneurship are obvious.

The session will be moderated by Bhaskar Prabhakara, the Co-Founder and CEO of WeInvest. WeInvest is a B2B2C robo-advisory platform. WeInvest has built a platform for wealth management that it sells to institutions so they can provide the service to their customers.

Get insights from the best of the best at Echelon Asia Summit 2019, happening on May 23-24 at the Singapore Expo. Get your free Starter tickets here.

Photo by True Agency on Unsplash

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(In photos) A stroll around STATION F, one of the biggest startup campuses in the world

The US$281-million startup facility was built in 2017 by Xavier Niel, a serial entrepreneur and founder of Kima Ventures

With an aim to attract international startups into Paris and make entrepreneurship more accessible, serial entrepreneur and investor Xavier Niel built STATION F in Paris in 2017.

Niel — the founder of telecom operator Free Mobile, tuition-free coding school 42 in France and California, and hyper-active early-stage VC firm Kima Ventures — also wanted to add more coherence and unity to the fragmented startup ecosystem.

Located in central Paris, the 34,000 sq meter building hosts an entire startup ecosystem under one roof.  The facility hosts not just local startups but startups from across the world, including Asia, such as Wishupon (South Korea).

At STATION F, you can find a startup zone with 3,000 startup desks divided into 30 different startup programmes — including Facebook’s Startup Garage, vente-privee’s Impulse and its own Founders Program. STATION F also has event spaces, offices for investors and tech companies, a makerspace, a co-working coffee-shop, and a giant food market.

A co-living space for 600 entrepreneurs is also under construction 15 minutes away from STATION F.

So far EUR250 million (US$281 million) has been invested in STATION F.

STATION F campus is divided into three zones: SHARE, CREATE, CHILL. The SHARE zone provides a variety of event spaces and services for entrepreneurs. In this space, two areas are open to the public: an Anticafé (a co-working coffee shop where you can pay by the hour) and an innovative Post office.

The SHARE zone also includes six of the eight events spaces available on campus, including a 370-seat auditorium and a ‘creativity room’ built for brainstorming sessions. All events happening on campus revolve around entrepreneurship and creativity.

There are numerous startup services in the SHARE zone, like a French Tech area that provides direct access to 35 key administrations and experts.

There is also a Tech Lab, managed by Techshop Ateliers Leroy Merlin, with 3D printers, laser cutters, and workshops.

In addition, several private offices host major tech companies like Amazon Web Services and Zendesk, and a VC areas with members like Balderton Capital, Index Ventures, Accel Partners, Alven, Ventech, Kima Ventures, and more.

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Malaysian salestech startup SalesCandy sets foot in neighboring regions

SalesCandy just launched in Malaysia 18 months ago

SalesCandy International Sdn Bhd, a Malaysia-based salestech startup, has entered Thailand, the Philippines, Indonesia, and Vietnam. The company said it has struck multiple contracts across Southeast Asia in the first quarter of 2019 and is readying up operation in the said countries.

“With a combined population of more than 650 million and smartphone penetration in Southeast Asia are on the rise, the adoption of digital solutions and technology in sales management, are still lagging behind. We are confident that our product will help businesses improve their sales productivity by closing more sales and bringing down cost per sale.” said Stanley Chee, CEO & co-founder of SalesCandy.

SalesCandy’s product is SalesCandy LMS that features a mobile app action-based Lead Management System (LMS) with a real-time routing mechanism. This allows a salesperson to respond to enquiries coming from multiple online and offline channels within five minutes.

SalesCandy LMS (lead management system) app is currently available in four languages: English, Thai, Vietnamese, and Bahasa Indonesia.

SalesCandy claims that right now, its platform serves more property players than other sectors.

Also Read: New US$50 million venture fund launches in the Philippines

Beyond regional expansion, SalesCandy said it has a bigger vision. “We aim to create tighter coordination between the property developers, real estate agencies, and the banks, that they can use SalesCandy to shorten the sales journey of home buyers – from the point where they book a unit to getting a mortgage loan. In the next 3 to 12 months, we will centre our product rollout around developing an ecosystem that helps both our banking and property clients to bridge the missing links, improve sales service level, and ultimately, close more sales,” said Chee.

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An end of Google-Facebook advertising duopoly could be a boon for adtech

A Facebook Founder called for the breakup of Facebook this week. Will it come to pass?

Calls to break up the big tech companies may be overdone depending on which side of the regulatory and political aisle you are on. But a loosening of the grip by Google and Facebook on the global advertising market will prove to be a good thing for a burgeoning ad tech industry.

Any time a monopoly or, in this case, duopoly is unchallenged for too long it harms innovation. That’s certainly become true of ad tech of late. Google announced earnings at the end of April and, as expected, we saw its advertising businesses increasingly pressured by newcomers like Amazon – sending the Alphabet stock down 15 per cent, its worst day decline in nearly seven years.

To be clear, I’m a fan of Google and Facebook. They’ve done amazing things for global advertising, connecting billions of consumers seamlessly to brands and marketers. But that has sometimes come at the expense of opportunities for smaller ad tech providers and would-be innovators.

The first signs of trouble for the duopoly became apparent during the previous earnings season in February, when Amazon reported that it earned more than $10 billion in 2018 income – most of which came from its advertising business. That raised eyebrows.

Indeed, Amazon’s e-commerce platform, which has a natural ability to gather consumer data, gives it an edge over Facebook. Google is more diversified with its search business and its Android mobile operating system, which powers most of the world’s smartphones. But traffic acquisition costs for Google have been very obviously rising as a percentage of revenue.

Competition is forcing both Facebook and Google’s costs up in the advertising space. With Amazon as the new competitor, we will move into a healthier state of affairs with a little bit more room for smaller ad tech players to steal slices of the giants’ pie.

I’m a strong believe that ad tech start-ups and innovators have an important role to play in the future of advertising, with a few big challenges on the immediate horizon that they can help solve.

One big challenge is around how to reduce ad loads on consumers, by which I mean how advertising evolves to continue delivering margins and profits while reducing the disruption caused to consumers. This tends to happen when ads are not delivered seamlessly in a way that flows with the content experience they are consuming, be it on a browser, TV, tablet, or mobile.

For example, rather than interrupting a consumer watching a TV show with a regular advert, a mixed reality experience prompt could be offered that invites them to learn more about a product they just saw on their favourite TV show. It could be Tesla’s latest electric car or Samsung’s new folding smartphone.

The technology already exists for the mixed-reality prompt to be delivered to the consumer’s tablet or smartphone, though the content was being watched on their TV.

Also Read: 6 Echelon Asia Summit 2019 exclusives the investor community can look forward to

Another use case could include allowing a fashion store to send a shopper, who made it to the changing room but not the cashier, a promo through social media inviting them to go back to the store to complete their purchase – with a suitable incentive. This kind of offline-to-online tracking technology already exists, but challenges remain around how to implement it in a way that is not creepy.

Ads need to become more relevant and targeted, but there is also a deeper question about the need for advertising to be reinvented altogether. If there is to be a rebirth of the industry – revolution rather than evolution – ad tech players are going to play a key role in how that’s conceptualised, achieved, and delivered.

With a more competitive advertising industry, the guys at the top (Amazon, Google, and Facebook) will be forced to innovate more quickly and aggressively in terms of what they offer the buy and sell sides. This will mean many more ad tech acquisitions and greater market incentives for breakthrough technology to be built, bought, and sold.

I’m optimistic about the end of the Google-Facebook duolopoly in advertising and so should you be – especially if you’re one of the little guys. It will prove to be a big boon for ad tech.

Also Read: (In photos) A stroll around STATION F, one of the biggest startup campuses in the world

Photo by Glen Carrie on Unsplash

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What your business can and should learn from Arya Stark

Don’t be Jon Snow, be Arya Stark

Before you start, please be reminded that:

via GIPHY

Another day, another Game of Thrones’ appreciation post. We’ve gone through most of the episodes in this season and the last one was a letdown.

All remaining characters are regressing instead of progressing (cough Jamie cough), and yet we can’t get enough of the show.

If there is one good thing that is a silver lining of hope in all of the darkness that this show has brought upon us — literally and figuratively, it’s no doubt Arya Stark.

Allow me to gush. After the long-awaited Battle of Winterfell, we can confirm, amid the darkness, that Arya is the real hero in this saga.

Arya is consistent, quietly get the job done, and focussed. Sounds like a reliable character to have in your corner, right? You know where this is going because we’re gonna talk business now.

Arya Stark is a good business personified.

Arya means business

I did myself a service by rewatching the first episode of the first season simply because I have a soft spot in my heart for its epicness. And there she was, Arya, the teeny tiny thing that showed potential since day one.

When her privileged family put her baby boy Bran for training and her for sewing alongside Sansa, she put on some bow and showed what she’s capable of with the weapon. She made her half bro noticed her enough to forge her a sword.

So that was the start. It’s instilled in her that she’s born for this, to fight with skills. She convinced her father Ned Stark (sob) to let her train with Syrio Forel, the swordsman who famously coined the phrase “What do we say to the God of Death? Not today”. That helped her become the hero she’s meant to be.

A good business should mean business. Going into your first entrepreneurial foray should be with the same hustle Arya had that will set the tone for the entire journey. It’s the first step that always counts.

Also Read: Jakarta comes out as “challenger” to global startup ecosystems: Startup Genome Report

This is especially for you who just started: does this business you’re about to work your ass for really means business? With that being said, does it know where it wanna go with the market, the promotion tool, the audience, the sustainability plan, the monetisation, and the solution it offers? What’s your plan?

Arya has seen some horrors but never loses hope

This is rather corny, but I think a good business should walk through the valley of death and survive, come out on the other end ready to fight for another day.

Arya was there when her dad was beheaded, her first sword teacher was killed and she had to throw away her identity and her rights as a Lord’s daughter to survive. And that was just the start.

When you really believe that you have something to offer, first, second, third, and many more failures to come shouldn’t stop you. This is if you start your business with good intention and back it up with enough research and reliable data.

Arya has a to-kill list

This is my favourite. Do you have your own to-kill list?

It’s good to be organised like Arya when you run a business. Surely you aren’t meant to have one role in your life, and this way, you can have an overall clearer view on what to do next without being all over the place.

For me personally, it’s hard to keep a list and tick it all the way through the end. Arya recites her list before she goes to bed, something that she learned from the other.

It’s good exercise, what she does. Before you go to bed, check again all the things you have accomplished that day and prepare your to-kill list for the next day.

It’s hard to keep at it, sure, but the rewards of finishing a list is also a good mental health sport.

Arya is humble enough to learn from people she despises

Syrio Forel and Jaqen H’ghar are two characters most notable for their roles in grooming Arya to be a fighter. But Sandor Clegane, aka The Hound, I personally think was the one who honed Arya.

The Hound was initially on Arya’s list to kill because The Hound kills Mycah, Arya’s friend. But getting stuck together helped Arya realised the other side of The Hound that wasn’t so bad after all.

Arya even learned how to be sensible and merciless from The Hound. To cut the bullshit and just get the job done.

In business, learning moves from your opponents is crucial. Being humble enough to take what it is that they do well may seem unoriginal or downright imitating, but if you think of it as a learning process and put aside the so-called idealism, you might be surprised by what you can find.

Arya is No One

Another favorite aspect of Arya is that she’s a part of this Gods of death cult, wandered far enough to the foreign land of Braavos to join the training under faceless man Jaqen H’ghar and to essentially become No One.

Arya was forced to completely strip her identity, became blind, and couldn’t really emphatise with people outside the cult as she is molded into an assassin.

Arya’s situation, of course, couldn’t be translated literally into how you should run a business. Becoming no one in business means to work on your part quietly and diligently, to keep going with the pace and not rush things, because your business could use a level-headed runner.

Like Arya, treat each experience as training until you get good enough to let other people chime in and accelerate.

Arya is true to herself

In the end, Arya couldn’t really make it through the faceless man training without keeping her identity when it should be otherwise. She ended up not killing Lady Crane, when the murder assignment was given to her by Jaqen H’ghar. So, she could not become a faceless man herself because she couldn’t kill an innocent person.

She is and will always be Arya Stark, the girl who isn’t meant to be a lady and therefore must reject Gendry’s cute proposal in the last episode. She knows what she is and how she wants to live her life, and she’s never got carried away in what other things offer.

In doing business, even after winning and learning, in the end a business needs to go back to its original mission. Unless the survival requires a drastic change, the true mission that can carry the whole company forward should be at the core of everything the business is doing.

Also Read: New US$50 million venture fund launches in the Philippines

If that’s not the case then it will be easy for the business to not be able to withstand challenges that come with growth and to fall apart.

As most of our Game of Thrones’ protagonists, Arya, of course, is not without shortcomings. Despite coming so far and growing so much that she can now co-exist with her sister Sansa after growing up looking down at her, Arya is merciless for her own good and at times can come across as cold-hearted.

This is of course not a good trait of business owners, but her badassery made up for it.

Here’s to businesses becoming more like Arya Stark, the no-nonsense, true hero of the Seven Kingdom.

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