The National University of Singapore’s entrepreneurial arm, NUS Enterprise, and Singapore Airlines (SIA)’s joint initiative is called the SIA Accelerator Programme

SIA Accelerator Programme, the accelerator programme initiated by NUS Enterprise and Singapore Airlines (SIA), has announced five startups graduates from its inaugural batch.

The accelerator is a joint effort to boost the travel sector and its customer experience as well as open up new business opportunities for aspiring startups.

The 10-week initiative took place in an incubation space at NUS Enterprise’s The Hangar and SIA’s KrisLab in January this year.

Participants were tasked with presenting solutions for tech and airlines problems identified by SIA. These problems include onboard food wastage, offline and online integration in-flight shopping, revenue maximisation, to seat capacity optimisation.

NUS Enterprise coached the participants to identify their target customers, the right tech solutions, and product-market fit, as well as business model viability.

Some of the programme’s participants include the winners of Singapore Airlines’ annual AppChallenge. AppChallenge is a digital hackathon for aviation innovation run by SIA in conjunction with NUS Enterprise which was launched in June this year.

All solutions will be presented during the Innovfest Unbound 2019 that kicks off on June 27. Innovfest Unbound is an innovation festival organised by NUS Enterprise and Unbound, held in Singapore.

Also Read: Event tech platform PouchNATION raises Series B round from Traveloka and SPH Ventures

The five startups graduates from the accelerator programme are:

• airfree, an in-flight shopping marketplace that allows online shopping mid-flight and items collection upon landing with 50 times less bandwidth than regular e-commerce websites allowing faster browsing. Last month, the startup raised US$2.9 million in funding from Shiseido, Starbucks accelerator, and angel investors.
• F5Shift, a digitised data-tracking on in-flight food wastage by capturing images of F&B wastage via cameras processed by its cloud-based, machine learning models that can detect the food item and the source of meal that results in the wastage, presented in web dashboard to help airlines optimise meal plans and reduces waste.
• Migacore, a data science startup that uses contextual data to improve demand forecasting for travel by capturing online signals from news portals and social media to gauge travel intents. This will help airlines to respond with better flight schedules and overall revenue management.
• Travelsel, a smart destination platform that facilitates the distribution of in-market products through airlines, hotel, and other retail channels, providing retailers with a platform to publish, build, sell ticket product and product bundles, all in media-rich content.
• Volantio, a startup that seeks to optimise seat capacity to help airlines increase revenue and avoid overbooking flights, using a cloud-based capacity optimisation platform called Yana. Yana automatically makes these passengers offers to switch to other flights in an overbooking situation with offers include vouchers for future travel, loyalty points, or upgrades.

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Strategic capital is essential for startups to achieve sustainable long-term growth

Smart capital, simply put, refers to the investment that brings along additional value such as knowledge, relationships, potential partnerships in addition to cash. In an economy where connectivity is becoming increasingly important and prevalent, smart capital is becoming more and more crucial for businesses to flourish.

Specifically in Southeast Asia, relationships are the backbone of business partnerships and dealings. Connections that investors may have can be equally or even more important than the cash they can deliver. For the growing number of startups, getting plugged into the ecosystem is imperative for their growth – to connect with suppliers, customers as well as forming strategic partnerships with other companies.

On the other hand, investors are also seeking investment opportunities where they can provide more than just cash. Ultimately, they want to be confident of getting the highest return possible.

Also Read: 10 reasons why businesses need to get involved with their communities

Many funds such as VCs focus in certain spaces, allowing them to gain expertise and build connections among their investments. The rise of Corporate VCs (CVC) also points to the importance of providing smart capital, where large corporates buy smaller companies to improve their businesses.

PE firms buy companies that fit into their investment portfolio intending to restructure them to prepare them for more significant exits such as IPO and M&A.

Understanding the Southeast Asia investment market

While the global investment community has been eyeing the Southeast market for some time, the business landscape is still generally considered risky with political instability and underdeveloped infrastructure to support startups, except for countries like Singapore. As such, the majority of investments still come from PE firms that deal with companies that have already established some market success.

The number of VC and CVC investments have also increased in recent years with the booming technology industry providing an array of diverse solutions. However, in 2018, most of the funding in Southeast Asia is to later stage companies such as Grab, Lazada, Go-Jek, Tokopedia and Sea Group.

Smaller VC firms still face strong headwinds in finding capital for riskier start-ups. Investors are in high demand in Southeast Asia. Companies and funds face difficulty in raising capital due to the risky nature of investments in Southeast Asia despite the high growth potential.

Investors in developed countries such as the United States and China tend to behave differently from those in Southeast Asia.

Due to the significantly larger pool of investors and the size of the domestic markets, it is common for startups, especially those with proven track records, to be selective when it comes to receiving investments. As the investment landscape in Southeast Asia is still considered relatively new, it will be the startups who are chasing for funds rather than the other way round.

Understanding investors

As shown in the above image, investors of different types of funds do have different goals for their investments. Even angel investors have different goals such as retirement, partnerships with the existing portfolio and personal financial goals. Having aligned expectations as investors is important to avoid being pressed by the investors for quick financial returns when the business is premature for its intended exit.

Smart capital can also be disruptive when investors have different strategies from the management. This could result in conflict, wrong decisions and could even lead to failure. Discussing strategy must be on the agenda when seeking smart capital to align the vision so that stakeholders can support one another to execute the business plan effectively.

Also Read: What you need to know before taking Venture (or Vulture?) Capital

Another way to understand investors is through the way they conduct their due diligence. It reflects the attitude and culture of the investors. For example, if you are raising your first round of investment and was hammered with questions on detailed five-year financial projections, you will know that the investor may not be comfortable with the early-stage investment.

Managing expectations

Discussing what parties want out of the investment is important to lay out duties and timelines to obligations. This ensures that investors do deliver on what they promise to provide for the business, providing clarity for the investors to carry out specific action plans. It also assures investors on when and how the company intends to fulfill its financial obligations (e.g. expected to start distributing dividends in Year 3.. Do not just ask for investors’ help without telling them what you can provide them. 

Providing alternatives

Risk is a huge concern in Southeat Asia for any investor. Creating alternatives and other options may pose a higher level of risk for the business, but it increases the chances of securing investments in this underdeveloped economy.

Structured finance can be used to compensate investors when certain key objectives are not met by the stipulated timeline. Royalties can also be used as sweeteners to pay investors based on business performance rather than fixed amounts like dividends.

As the bond market in Southeast Asia develops, companies can also consider convertible notes. This allows investors to invest through debt, which is less risky, with the option to switch to equity to capitalise on higher returns – should the business succeed.

There are many different ways that investment deals can be structured to reduce the risk of investors. The business should consider how they can meet the interests of investors by reducing risk to gain funding. While this may not be optimal for businesses, it is necessary for the near future as investors continue to remain wary in the region.

Conclusion

The Southeast Asia economy remains a difficult but a blooming space for businesses to grow as competition is stiff while capital is sparse. Yet capital remains a crucial aspect for businesses to operate and grow, with strategic partners being necessary for acceleration into complex markets. To compete for smart capital, businesses must do better than simply boasting large returns, but learn how to manage risk for investors.
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Neuron will operate its patented commercial N3 scooters, which have 12-inch tyres and a 21 centimetre-wide floorboard to provide more stability and comfort 

Singapore startup Neuron Mobility has announced that it has been selected by Brisbane City Council to operate a majority of its 600 e-scooters in the capital city of Queensland.

The company said in a press release that it beat nine other global and local operators, including California-based Lime Scooters (which will operate the remaining 400 devices in the city) to win this partnership.

The e-scooter addition is a part of the Brisbane Clean, Green, Sustainable 2017-2031 initiative, the city’s efforts to improve its sustainability.

Neuron Mobility said that it will operate its patented commercial N3 scooters, making Brisbane the first city to experience the commercial-grade version of the vehicle — along with Darwin City which has partnered with Neuron for a 12-month trial programme.

The N3 scooter is developed with 12-inch tyres and a 21 centimetre-wide floorboard to provide more stability and comfort to riders, claims the company. It also features a GPS-enabled parking indicator on the handlebar display to help guide riders to designated parking zones.

Also Read: NUS Enterprise, Singapore Airlines introduce five startups from SIA Accelerator

Neuron has a dedicated operations team on-ground that handles daily maintenance, hourly demand rebalancing, and battery swapping of the scooters so they will have a consistent supply and to allow responsible parking.

“We believe that there’s an ongoing paradigm shift in urban transportation that will shape the future of mobility. This partnership with Brisbane City Council is in line with our goal to bring the best micromobility services to the Asia Pacific region,” said Zachary Wang, CEO of Neuron Mobility.

Recently, the company also tied up with Payap University in Chiang Mai, Thailand to promote the use of clean energy mobility solutions.

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Brands need to think differently if they want to successfully shape their narrative in the age of social media

In this era of hyper-connectivity and intense social scrutiny, many brands are turning to storytelling as a way to gain more eyeballs.

But gone are the days where people naively believe anything companies tell them.

So what does storytelling really mean, and why does the traditional story arc not work for brands?

Endings don’t feel real

Our first counter with a traditional story arc is when we were young, when grandparents told us life stories, or when we read Enid Blyton books.

As we grew up, we consumed novels and movies — most of which used the same story arc.

Here’s how a traditional story arc goes: there’s a beginning (exposition), middle (rising action, climax) and ending (falling action, resolution).

But does the story really end there?

If you think back carefully, you’ll realise that these stories always take on a fairytale-like quality.

Why?

Because endings don’t feel real. I believe that as humans, we are hardwired to seek patterns and answers, but not necessarily endings.

We intuitively seek continuity.

Boy meets girl. Boy likes girl but there’s an obstacle. Problem is overcome and they live happily ever after, galloping off on a shiny white horse into the beautiful sunset. Cue credits.

What does this mean for brands?

In Marty Neumier’s book The Brand Flip, he writes about how the rise of social media has placed customers in a position of power to shape brands and ‘draw meaning from it’.

In other words: ‘Your brand isn’t what you say it is. It’s what they say it is.’

Source

Stories are ways to frame our perspective of the world and how others see us.

So how can companies create a narrative framework that continuously engages people?

The new story arc model

Often, companies approach brand stories as a linear, closed narrative — with a beginning, middle, and ending — about how the company was founded, its journey to success, blah blah blah.

But the irony is, the traditional story arc doesn’t create conversations with people.

And in this new world where customers take charge, such company-centric narratives are a big fail for engagement.

The best brand stories are open-ended, tributaries of ideas and aspirations that continue from the source.

Here’s how a brand story arc could potentially look like:

Pardon the terrible sketch

How the new story arc translates into a brand story (Case study: Patagonia)

It’s no longer about your company, but your customers.

Here are a couple of ways to kick start the brand story ideation:

1. What is your company’s Big Idea?

Is there a purpose that your company exists for, beyond making money?

In this new world of gluten-free food, environmental consciousness, hipster-ness, and ethical values, people buy into big ideas and aspirations.

Like what Marty Neumier wrote: “They [people] no longer buy brands. They join brands.”

For example, outdoor brand Patagonia is known for their commitment to providing solutions to environmental crises, while running a sustainable business.

But most importantly, their mission isn’t just idle chatter. They walk the talk with their company policies. That’s what makes it so inspiring.

People want to tell great stories about themselves. They want to be heard, seen, and understood.

Patagonia has created a strong brand which resonates with not just with hardcore nature lovers looking for ways to reduce their carbon footprint, but also people who aspire and look up to these ideas.

Source

When someone buys a product or uses a service, they are creating a story about themselves.

However, companies need to understand that at this point, their brand is out of their hands, and completely within the control of customers.

This is where sincerity and good, honest company practices come in.

Because at the end of the day, all people want to be is the hero of their stories.

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Photo by Raj Eiamworakul on Unsplash

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

This article was first published on e27 on April 27, 2018

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Kopi Kenangan wants to fill in the gap between high-priced coffee served at international coffee chains and the instant coffee sold at street stalls

Startup of the Month returned this month with Kopi Kenangan as its winner!

Kopi Kenangan is a tech-enabled coffee chain founded to “fill the gap between the high-priced coffee served at international coffee chains and the instant coffee sold at many street stalls.”

The company has recently made headline with its US$20 million funding round from Sequoia India, following a US$8 million funding round it announced in October last year.

It has also grown from just 16 stores in October 2018 to 80 stores in eight cities today.

Claiming itself to be a profitable business, Kopi Kenangan has plans to open 150 outlets by the end of this year and expand to 1,000 stores throughout Indonesia by 2021. It even mentioned a plan to expand to other Southeast Asian markets.

As a runner up, e27 readers have voted for BrideStory, an Indonesian wedding marketplace platform.

Together with sister company ParentStory, a children activity marketplace, the company has recently been acquired by Indonesian e-commerce and fintech giant Tokopedia.

Congratulations to both companies, and thank you for your participation in the poll!

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Image Credit: Kopi Kenangan

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