In the past two years, gojek’s Go-Pay has consistently been the top e-wallet service in Indonesia. But will this change anytime soon?

You may have read this exclusive Reuters report about Southeast Asian ride-hailing giant Grab’s plan to merge OVO, its e-wallet service with DANA– an Indonesia-focussed e-wallet platform run by a joint venture between Ant Financial and Emtek Group.

Citing people familiar with the matter, the report mentioned that the deal would see Grab buy a “majority interest” in DANA from Emtek then merge it with OVO. None of the companies have confirmed or denied the news.

All of this was certainly part of Grab’s major plan to compete with old-time rival Gojek.

If you have been on Twitter today, then you would be aware that this has been the topic that some Indonesian startup industry players have been discussing (apart from Bukalapak laying off employees). The initial reaction was to collectively drop our jaw; but then like the rest of the world, I wondered what it meant for the ecosystem.

My conclusion is that for the first time ever, Gojek should really consider its next best move, as this might just be the hit that will topple them down from the throne.

Also Read: Grab reveals details of Vietnam investment plan, to invest US$500M over 5 years

But first, let us look at the statistics.

In August, DailySocial published a report based on research by iPrice Group and App Annie. The research revealed that Go-Pay is the most downloaded and used e-wallet service in Indonesia, a market that is widely known to be heavily cash-reliant.

It is stated that from Q4 2017 to Q2 2019, Gojek’s Go-Pay has been consistently the most downloaded and used app among users in Indonesia.

In Q2 2019, Go-Pay was closely followed by OVO. If you pay attention to the infographic in the report, you will realise that for some time, OVO has been battling LinkAja (formerly known as Tcash and backed by major state-owned enterprises) to become the second top e-wallet service.

Having its starting point in the fourth position in Q4 2018, you will see that DANA immediately jumped to the third position, pushing LinkAja down to the fourth place.

After those four platforms, the rest of the list was dominated by platforms launched by private and state-owned banks such as CIMB Niaga and BTPN. Doku, once the top e-wallet service in the country, sits calmly on number nine, proving how time has changed.

Phew, such intense paragraphs to write.

Also Read: Consumer credit company Experian invests in Grab’s Series H round

Now, another set of information that we need to keep in mind: OVO is now the official e-wallet service for e-commerce unicorn Tokopedia while DANA has worked with Bukalapak to launch e-wallet BukaDana (because, well, they are both a portfolio of Emtek).

From Gojek’s side, the company has recently launched a partnership with LinkAja that will enable users to use it on Gojek’s platform. A partnership that came up as a surprise when it was first announced that I had to write another opinion piece about it.

Apart from that, Google’s investment into Gojek has also enabled Go-Pay to become a payment option for purchases on Google Play Store.

So we are now talking about a battle that features Grab-OVO-Dana-Tokopedia-Bukalapak on one side, and Gojek-LinkAja-Google Play Store on the other.

This is basically Helm’s Deep and whichever side you are rooting for, I hope they get to look to the East and find the help that they need.

So what kind of help do these companies need? To answer that, we just have to look at the customers and see what drives them to use a particular e-wallet platform.

Sadly, the answer is still promos, discount, and cashback offers.

Also Read: Today’s top tech news, July 11: Grab warns of a possible increase in fares with new regulations in Malaysia

But I am not worried. See the lead image used for this article? We received them from Grab’s PR team when the company, together with investor SoftBank Group and Tokopedia, attended a meeting with President Joko Widodo at Merdeka Palace where SoftBank stated its commitment to invest US$2 billion to “grow Indonesia’s digital infrastructure.”

Generally, both Grab and Gojek are also in the process of fundraising, and they definitely do not aim for a US$50,000 seed funding round.

I can see Gandalf in the horizon, but it remains to be seen which side he is on.

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Image Credit: Grab

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The Indonesia-based fintech, formerly known as EmasDigi, said that its goal is to democratise access to financial products

Pluang, Indonesia-based a fintech startup providing digital micro-savings for Indonesians, announced today that it has received a US$3 million Series A funding led by Go-Ventures. Pluang was formerly known as EmasDigi.

With this fresh capital, Pluang plans to launch other products, including US dollar savings and fixed return products adding to its recently launched gold savings product.

With 38 per cent of existing fintech is in the payment sector and 31 per cent in lending, Pluang becomes one of the few fintech companies that try to solve the difficult problem of improving savings in Indonesia, in efforts to tackle the financial inclusion problem in Indonesia.

Pluang allows users to access curated financial products without having to worry about hidden or exorbitant fees. Pluang’s gold product, for example, allows investments starting from 0.01 grams (equivalent to roughly USD$0.50). Pluang provides users real-time liquidity as the gold is kept in a government-backed institution through the official Indonesian commodities exchange.

“Indonesia is the fourth most populous country in the world, and over 50 per cent of that population does not have access to bank accounts. Even fewer have access to formal investment and savings channels. We believe in Pluang’s fully compliant micro-savings products for all Indonesians,” said Aditya Kumar, Go-Ventures VP of Investments.

Also Read: Go-Jek investment arm makes first deal and it is an Indian e-sports startup

Claudia Kolonas, Founder of Pluang, explains, “In terms of investment solutions, Indonesians are underserved. We want to help Indonesian consumers see that better possibilities exist for growing their savings.”

Before changing its moniker to Pluang, EmasDigi made news for welcoming Natali Ardianto, ex-CTO of Indonesian online travel agency Tiket, as CTO at EmasDigi in June 2018. It is not clear whether Ardianto remains in his position in Pluang.

Prior to investing in Pluang, gojek’s venture arm reportedly has invested in online media Kumparan, and Indian e-sports company Mobile Premiere League, followed by investment in Indian cloud kitchen company Rebel Food.
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Also, two tech companies announce new senior hires today, and Grab Financial to launch Singapore-Philippines cross-border remittance service

AngelHub and WHub raises US$3M funding from Kharis Capital, TNG Fintech Group [Press Release]

WHub, Hong Kong’s startup community platform and power connector with over 3,000 startups, announces that it has received investment valued at US$3 million led by Kharis Capital, a VC that builds and manages direct investment partnerships backed by and dedicated to families and entrepreneurs. Joining the investment is Hong Kong’s fintech unicorn TNG Fintech Group.

Along with the investment, WHub has also launched AngelHub as a new way to invest in vetted startups that are building the future. WHub said it will deploy the investment across both AngelHub and WHub to further develop the business through geographical expansion, technology upgrades, and talent acquisition as both companies build their offering and attract more customers and new investments to the platform.

“AngelHub’s experienced team and partners provide investors worldwide with a way to startups scaling in Asia. Investors can now be part of this digital (r)evolution and invest in innovative technology companies in a regulated, fully digitalised, and efficient way,” said Karen Contet Farzam, Co-founder of AngelHub and WHub.

Online event marketplace EFFRO relaunches new platform in Singapore [Press Release]

B2B events hiring technology platform EFFRO announces that it has officially relaunched in Singapore with a new look and platform. It aims to help businesses organise their events by minimising delayed payments and mediocre talents, ensuring that time or money is not wasted in each event-planning process.

The new platform, the company said, will connect clients with talents and vendors via a chat-to-hire function and a review-and-rating system.

Also Read: Grab reportedly wants to merge OVO with Ant Financial’s DANA. What does it mean for the rest of us?

The Singapore-based company was started in 2014 by Adam Tan, brother of ex-Mediacorp actor Andie Chen, who is also actively involved in EFFRO as an advisor and investor. It currently has 1,200 talents and 300 clients on its Singapore platform and has recently launched its platform in Thailand and Malaysia.

Razer Fintech adds Lim Siong Guan into company’s board of advisors [Press Release]

Razer Fintech, the financial technology arm of Razer Inc. and one of the Offline-to-Online (O2O) digital payment networks in Southeast Asia, has appointed Lim Siong Guan as an Advisory Board member.

Lim will add his experience from his past careers that include serving as the Group President of GIC Private Limited (GIC) from 2007 to 2016 and subsequently, Advisor to GIC’s Group Executive Committee to March 2019.

Lim also previously served as a board member of the Monetary Authority of Singapore and as Chairman of the Singapore Economic Development Board, focussing on enhancing Singapore’s position as a global business center and as a critical hub in the global supply chain. In addition to that, Lim was the first Principal Private Secretary to Singapore’s founding Prime Minister, Lee Kuan Yew, and has served as the Head of the Singapore Civil Service, as well as Permanent Secretary of the Prime Minister’s Office, the Ministry of Finance, the Ministry of Education, and the Ministry of Defence.

Hong Kong-based blockchain insurtech Galileo appoints Simon Copley to Board as Independent Director [Press Release]

Galileo Platforms Limited (Galileo Platforms), a blockchain-based insurance technology company, has announced the appointment of Simon Copley to the Board of Directors as an independent director.

Copley’s appointment made him the first independent director to join the Galileo Platforms board.

Galileo Platforms has a business-to-business (B2B) operation, and this appointment signifies its readiness for fresh funding and a pending product launch. The move also ties in with the company strategy to expand the use of blockchain across more sectors of the insurance industry and in a greater number of markets, partnering with challenger insurers, incumbent insurers, distributors, and reinsurers.

Also Read: P2P lending fintech Validus closes over US$15.2M Series B funding led by Dutch bank FMO

From the UK originally, Copley worked for more than 30 years advising many of the leading financial services groups in Europe and Asia, mostly on insurance, risk management, banking, and capital markets. During 21 years as a partner at PwC in Hong Kong, he led the firm’s regional insurance industry practice in what was a period of huge sector growth and transformation in the region.

Grab Financial to launch Singapore-Philippines cross-border remittance service [DealStreetAsia]

Grab Financial, Grab’s financial arm, announced that it plans to launch its first cross-border remittance service targeting Singapore and the Philippines in the fourth quarter of 2019, DealStreetAsia has reported.

Since remittances play an important role in Southeast Asia’s economy and the Philippines is the fourth-largest remittance market in the world, Grab believes that the move is necessary. The service will allow users to remit money using their GrabPay wallets securely and instantly.

“This represents both a clear opportunity and an issue to resolve, as remittance is often a lengthy and laborious process from sender to agency to receiver. We are also looking to launch other remittance corridors in the near term,” said Reuben Lai, senior managing director of Grab Financial Group.
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Photo by Helena Lopes on Unsplash

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Digital elements including lead magnets, videos, podcasts and special reports will move prospects closer to a positive investment decision

Half of the investors say they use digital platforms says a survey

Investor list building is what all clients want from their advisors. Many imagine it to be the Holy Grail that will eliminate market volatility, calm trade war uncertainty and propel them to untold profits.

The problem with this idea is the nature of list building and attracting investors has fundamentally changed.

Small caps, mid-caps and blockchain companies are facing the same business reality as an Etsy shop owner. In modern marketing your digital footprint matters.

A study from Brunswick found half of the investors now use digital platforms to learn what CEO’s are saying.

Younger investors and analysts are also using social media not just for research but to make investment decisions: of those aged between 20 and 29, 44 per cent have used Twitter for this purpose; 29 per cent have invested based on something they learned on Whatsapp, and 20 per cent acted based on something they learned on Reddit.

The fact is investors, analysts and traders increasingly want to see a strong and relevant online presence. This is bad news for half of the companies seeking to grow their investor lists. doing it wrong.

Many blockchain and traditional small caps are simply doing it wrong.

I’ve had the opportunity to look at hundreds of small-cap and blockchain websites. Senior executives are not using digital and social to reach and engage investors. The websites are stacked with stock photos and blandness. The basics of providing an irresistible offer in exchange for a visitors name and email address are virtually non-existent.

These companies are waving the white flag at utilizing digital assets to build relationships and convert online traffic into qualified investors. Their game plan may consist of renting email addresses a list broker.

Also Read: How do you grow your startup? Take some advice from 4 experts in digital marketing

Small caps are publicly traded firms with a market capitalization of less than US$300 million. Blockchain companies offer a mix of digital securities and Security Token Offerings (STOs). Investors are showing an increasing interest in participating with these types of companies.

In the Grayscale Annual Bitcoin survey more than a third (36 per cent)of U.S. investors would consider an investment in Bitcoin, representing a potential market of more than 21 million investors in the general population.

Investors considering Bitcoin, small caps, blockchain-powered digital securities and STOs are going to conduct some level of online research. A percentage of these prospects will make decisions based on what they find.

There are many sources available. Checking the sentiment in forums, chatrooms, Telegram and Discord groups is part and parcel of generating buzz. Even institutional investors will move if a particular stock or new crypto goes viral on Twitter, Facebook and LinkedIn.

VIDEO: An investment officers view of social media

So what can be done to improve the chances and pull victory from the jaws of digital defeat? Focus on positioning your company.

There are market and price volatility. There are negative scenarios and bad actors. But there are also opportunities and surprises that can be uncovered that attract investors. Don’t wait. Get started.

Here are seven tactics that attract new investors with digital

Avatar me

Know the avatar of the investors you want to reach. Which social platforms are they active on?

LinkedIn is the most favoured social platform for professionals. With over 500 million members (300 million active each month) you have to filter in order to connect. Things like a branded company page, identifying employees and a regular posting schedule are essential.

Peeping in

Your website is an open window into your company.

The initial digital impression can work for your benefit or be a disaster. I’ve looked at hundreds of small-cap websites that have the same format. Stock photos, boilerplate text and the same menu options. Show some creativity to improve your conversions.

Googled you

What are the keywords related to your industry and how do you rank for them? Investors often look at big-picture industry information, announcements and trends. If you have specialized products then you should be showing up on the first page of Google and other search engines like Bing and even YouTube.

A strategic approach is key to winning

Join your network

The CEO and Founder need to have a strong digital profile. In addition to the company website, LinkedIn is a great place to start. Optimize the content and give it a real feel.

Also Read: These tech companies are eyeing for Singapores digital banking license

A Twitter handle is another option (today even the POTUS tweets). The point is to personalize the brand.

Click IR

News flash. No prospective investor is combing through all of those PDFs on your Investor Relations tab. They also won’t read all 47-pages of your whitepaper. Sell the sizzle, not the steak. Re-purpose that content into bite-size chunks of delicious information. A bonus is the content is already regulatory compliant.

Know your analytics

Check your Google Analytics to see which platforms are referring traffic and links to your website. Also, dig into the demographics and interests of the people hitting your site. Determine which pages they come in on and where they exit. This will further validate your avatar and can provide a basis for advertising.

The money’s in the list

Building a huge list of qualified investors is a pot of gold. But first, you have to create an effective funnel. Attract website visitors onto your email list with an irresistible offer. Nurture them with follow-up emails and broadcasts. Lead them to make an investment decision in your favour.

Summary

Today it is harder for small public companies to get attention and raise capital. Social media provides a proven way to create community, engage and activate your audience. Speak directly to the people who care the most about what you’re doing. A weak digital profile puts your company at a disadvantage to competitors who are more active on social platforms.

A strategic approach is key to winning.

Recognize the convergence of traditional roadshows, analyst calls and shareholder meetings with digital marketing. A solid digital marketing strategy is your blueprint.

Also Read: Why business transformation is important in the digital age

Use it as your GPS and guide as much traffic as possible to your online properties. This approach will enhance your website, support investor relations and position your brand as a leader in digital communications.

Next Steps

Many blockchain and small-cap companies find it cost-effective to outsource this work to a dedicated professional. The time and talent are typically not in-house to make it happen.

As a senior executive, it is your duty to use social and digital to reach and engage investors.

What are you waiting for anyway? Social media provides an opportunity to expand your potential investor universe into the millions. Done effectively you can grow your list in the short term and build value in the long run.

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By looking at financial projections, the company would have an idea of whether it can fund its plans via cash from operations or if it needs external funding

 

When a startup has come up with growth plans and strategy to scale its business, it is time to look at the financial resources needed to achieve those plans.

The startup will work out the amount it needs to raise and consider the type of investor it wants on board. It will also explore the different aspects of fundraising, including what instrument to issue, the structure of investment and the extent of influence the investor will have on the company.

There are two broad categories of investors it can approach – strategic investors or financial investors.

Strategic investors bring with them industry expertise and possible synergies when working with the startup. They are not investing purely for financial returns but also to reap the benefits of collaboration and exchange of expertise.

The growing number of innovation labs sponsored by major corporations show their burgeoning interest in being strategic investors.

On the other hand, financial investors like funds and venture capitalists invest with a view of gaining a financial return from an eventual exit from the investment. Financial investors may also bring a bevvy of contacts from other businesses in their investment portfolio that may benefit the startup.

Structure of fundraising

Depending on the stage of the startup, the fundraising may involve the issue of shares or some variation of a convertible instrument eg convertible preferred shares or notes.

In issuing shares to the investor, the current shareholders of a startup will have their ownership diluted immediately. By issuing convertibles, the dilution will happen only upon the eventual conversion of the instrument to shares.

In an issue of shares to investors, the company will crystalise its valuation at the point of issue. If the startup is at an early stage, for example, in the pre-seed or seed stage, arriving at a valuation may be a highly subjective affair.

Also Read: The holy grail of fundraising for startups

That is why many investors of early-stage startups prefer to subscribe to convertibles where the conversion price is set, for instance, at a discount to the price of a future round of investment. This postpones the need to arrive at a valuation to a later stage when there is more of an operating track record to be relied on.

Valuation of startups is subjective because projections may not be that strong an indicator of the future of the business. The business idea may not be validated in some cases, and even if validated, the product offering may undergo substantial revisions.

Also, startups are usually not profitable and are cash flow negative, especially in the early stages. Performance metrics and evidence of traction may provide some colour to the investor, but the investment case is based mainly on the potential of the business.

Regardless of whether it is a share or convertible issue, it is likely that the investor will insist on having certain veto rights over major decisions to be made by the company post-investment.

The company will typically need to have the investor agree on events like major disposal of assets, taking on borrowings, making distributions to shareholders, etc. There is a level of control that founders will need to give up when bringing on investors.

Interaction with investors

Startups should keep in mind that especially in the case of financial investors, the valuation they invest at must make sense from a returns perspective. Funds and venture capitalists are looking to achieve multiple times their money upon exit of the investment.

Putting forward their investment case, startups should illustrate how the funds raised will allow them to expand and scale to hit the exit valuation such investors look for. Highlight the targeted metrics it intends to achieve and how these translate to financial projections that point to an attractive exit valuation.

A big part of the dialogue between the interested investor and the startup will occur at the due diligence stage. This is where the investor will query, investigate and verify various aspects of the startup before finally deciding to invest.

Also Read: 9 elements of every new venture that investors expect

Founders should anticipate the concerns of investors, furnish in suitable detail the information requested and suggest practical solutions where the investment case is weak.

It is useful for founders to get their house in order before the due diligence starts and make sure it has details of its operations, key metrics and financial performance in an accessible format.

The startup can decide the appropriate level of detail to disclose depending on the depth of discussions. As such information can be sensitive, startups should be cautious in handing it over to potential investors who may be competitors or are in a ‘fishing expedition’.

Another big part of the negotiation process will involve discussions over the legal documentation, which will encompass agreements like the term sheet, subscription or investment agreement and shareholders’ agreement.

It is useful for founders to have some knowledge of the standard terms that go into such agreements.

For example, the general terms in standard SAFE (Simple Agreement for Future Equity) and VIMA (Venture Capital Investment Model agreements) documents are good reference points for pre-seed or seed-stage investments.

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Exhibiting at and attending conferences gets startups media exposure, investor attention and much more

Startup founders are always searching for opportunities to take their companies to greater heights and one of the most common ways, is to exhibit at or attend a conference.

In this series of articles, I will be explaining the different ways in which startups can equip themselves for a conference by diving the steps into 3 stages:

Before the conference, during the conference and after the conference

Let’s gets ready for the conference season!

Before the Conference:

1. Why are you attending this conference?

With media exposure and investor attentions comes the hefty price of exhibiting or attending a conference, and justifying the cost of that ticket or booth is important.

You have to ask yourself why you want to attend this conference? What do you want to get out of it? Is it coverage in the media? Is it fundraising? Is it exposure? or are the attendees of the conference your primary consumers?

Sit down with your team and your colleagues to find out how advantageous this opportunity is for the company and whether the cost associated with it is justified.

If you feel this:

Grab those tickets or booths now!

2. Attend Satellite Events

Once you have made the decision of joining the conference, it is time to connect to the different attendees prior to the conference. Often conferences are surrounded by satellite events*.

Since these satellite events are locally arranged meetups, they are the perfect way to learn and get involved in the larger conversation and the community. They allow you to access more people through smaller gatherings.

* What are satellite events?

Typically, at any conference, there are planned or impromptu events for discussions about various issues related to the theme of the conference. These are called satellite events. They can be in the form of networking events, discussions, workshops focused on content, themes and ideas from the main meeting. You can usually find them on the conference website or app.

3. Out of office reply

While you’re at the conference, you will not be able to reply to your emails as frequently as you do on a normal day.

You can manage your clients and customers’ expectations through an out of office reply notifying them that you’ll be replying slower than you normally do.

Template for OOO reply:

Hi there,

Thank you for your email. I will be out of the office from [date] to [date] and will have limited access to email/will not have access to email.

If your question can wait, I’ll be responding to the emails I missed when I return on [date]. If this is urgent, please contact [name] at [email], and he/she will take care of you.

Best,

4. Prepare Simple Conversation Starters

Conferences can be overwhelming, especially if you’re an introvert like I am. However, I have found this to be very useful in approaching new faces and companies.

Here are some examples and variations of questions I usually approach people or am approached with at conferences, feel free to use them:

Also Read: 8 events you shouldnt miss in Asia this week

1. What brings you here? (Here, in this case, could be referring to the city or the conference)

2. Is this your first time at [the conference/the city]?

3. Why did you decide to attend [conference name]?

4.After a talk: What did you think of the talk?

5. Satellite Events: Why did you come tonight?

6. Exhibitors: What sets your business apart from the crowd?

7. Exhibitors (Job Fair): What would a day in [the company] look like?

Try and come up with a question that makes you feel comfortable but always remember to keep it simple, short and professional (given the style of the conference).

5. LinkedIn

Update. Update. Update.

After the first few years of your career, LinkedIn becomes your online CV.

Update the different sections in your profile, especially the elements related to the company you are going to the conference for!

6. Company Brochures

Company brochures are extremely important (be environmentally friendly and print fewer copies), not only for marketing your products and services offline but to also guide you in your pitch.

Although brochures are primarily used by booths at conferences, you can make use of them while talking to different exhibitors.

A quick tip: Brochures can also be a good ice breaker at conferences!

7. Craft the Perfect Pitch

Brand Pitch: Your vision, mission and solution.

You should be able to answer these questions with your branded pitch:

1. What are you building?

2. Who are you building it for

Also Read: Four reasons why attending tech conferences is a must for entrepreneurs

3. How are you building the company and the brand?

4. What should the customers be expecting?

5. What is the problem that you are solving?

6. How are you solving it?

7. What makes your solution unique?

Read the 10 Tips for Successful Pitching to craft the perfect pitch!

Elevator Pitch — (Duration: 60 seconds): After preparing your brand pitch, do not forget to prepare a shorter version of it in order to be able to adapt to different situations!

8. Website

Make sure your company website is up to date with smooth user experience.

For instance, if you are looking for customers at the conference, make sure they are able to sign up for your newsletter or check out your services.

The process should be smooth as it might be their first interaction with the company.

9. Research. Research. Research.

Research attendees, exhibitors, media and speakers that are attending the conference.

How does this help? It allows you to

1. Schedule meetings in advance with people you want to meet

2. Identify the panels, keynotes, workshops or talks that you want to attend.

3. Map out who you want to talk to during the conference, helping to create some structure.

10. Have Schwag ready and lots of it!

People love collecting schwag/freebies at conferences, regardless of what it is. It attracts attendees, acts as a conversation starter and also allows you to connect directly with your target audience!

Also Read: Conferences give us an opportunity to redirect the blockchain narrative

Also, you might throw a brochure but you won’t throw out a free schwag.

It isn’t extremely expensive to produce branded freebies and every time the consumer uses the product, they will remember the brand!

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Southeast Asia’s property technology company PropertyGuru appoints Olivier Lim as Independent Chairman to the Board and Jenny Macdonald and Melanie Wilson as new Independent Directors to the Board

PropertyGuru, the proptech company operates in Southeast Asia, has appointed Olivier Lim as Independent Chairman to the Board. The company’s official statement coined that the move is part of a “broader exercise to evolve its corporate governance and to bring even greater diversity, breadth, and depth to the Board”.

Lim is an experienced Chairman and non-executive Director who is currently Chairman of Certis CISCO and Frasers Property Australia. He was a former Chairman of Australand, a property group formerly listed on the ASX, and currently serves on the Board of Directors of DBS Bank and the Board of Trustees of Singapore Management University (SMU) amongst others.

Both seasoned Australian Directors, Jenny Macdonald, and Melanie Wilson will also bring on board their expertise into the company.

Macdonald is a former CFO with experience in marketplace businesses and is currently a Board Director at Bapcor and Redbubble amongst other companies. Wilson has many years of experience as a Director for consumer-oriented businesses and currently sits on the Boards of Baby Bunting, iSelect, and EML Payments, amongst other companies.

“Over the last twelve years, I have watched with great interest the rapid growth of the business from a Singapore based property portal, to a high-growth property technology company with leading property marketplaces in five core Asian markets. I see so many opportunities in this next phase of growth,” said Lim.

Also Read: PropertyGuru raises US$144M from KKR

The Group will form a fully independent Audit and Risk Committee (ARC) chaired by Macdonald. Wilson will chair the Nomination and Remuneration Committee (NRC), which will comprise of majority independent directors.

Recently in March 2019, PropertyGuru introduced Lens, an augmented reality feature that allows people to move their phone camera around a given area and see what apartments are available. At that time, it was in an invite-only beta launch phase.

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Picture Credit: PropertyGuru

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More than cutting-edge technologies and innovative ideas — tell us: what makes your story special?

Whether we’re dealing with creative pursuits like filmmaking or building companies from scratch, the one thread that weaves important products together is a good story. If you really think about it, the most successful companies have thoughtful narratives behind them. They are often more than just giant institutions trying to sell things; instead, they are ideas beautifully conjured by actual human lives with actual human experiences.

After years of being in the industry, this is what we learned: if you are a business that has a vision, one that resonates with audiences, you are more likely to engage people. We have come to realize that the best way to do that is through storytelling. Stories throb at the core of human experiences, helping create something organic and real out of all the glossy technological advances, and ultimately humanising your brand.

In today’s modern world, people don’t just want machine efficiency alone but human engagement as well. Mixing these two ingredients make for a formidable brand that doesn’t just dazzle, but also rattles at the soul.

Our brains are wired to appreciate stories

It’s Science — the part of our brain where our thoughts and actions originate is weak in statistical reasoning. We can bombard our brains with all the data that we can get our hands on but if that data is not shaped in a cause-and-effect format, the brain will ultimately find it difficult to process, or find it “uninteresting” to say the least.

Packaging your data into stories help shape information into a format that the brain can easily identify and process. Only when this is achieved can real, meaningful insight be drawn from piles upon piles of hard information that otherwise provide no real purpose other than to simply fill spaces in a spreadsheet for the occasional clerical checking.

It is for this reason that that e27 commits itself to tell stories: we aim not just to bridge the gap between information that simply exists and a world that revolves obliviously around it. More than that, we aim to weave that information into human experiences that have a real impact on the lives of those who come into contact with it.

Through e27’s plethora of services, these stories are not only told, but rendered into physical, palatable content that invites engagement from the very community it seeks to transform and empower.

Whether we’re opening the world’s eyes to the stories of small to medium-size manufacturers banding together to revolutionise the manufacturing capabilities of Japan, or how a team in Singapore is bringing on-demand household services to the rest of the region one doorstep at a time, we make sure that these realities resonate to an audience that is eager to listen.

We believe that the tech startup ecosystem we have indefinitely involved ourselves in is one that is hungry for meaningful connections—and what better way to build those connections than find common human insights in the different stories we all have?

Why stories matter

When introducing something — an idea, a product, an innovation, or an amalgamation of the three — we tend to get straight to the technical aspect of things and generally assume that our audiences can make pragmatic decisions out of them. In reality, emotions also play a huge role in decision-making, and probably in ways bigger than we think.

This is because ultimately, stories help stimulate emotional responses. When you engage your audience in a story, you stir an emotional response from them which helps direct if and how they engage with your brand.

Building a brand is all about being able to engage the right audience and make sure that they are interested enough to explore possibilities with your brand. With e27’s content services, we seek to unpack and critically exhaust these narratives until we come up with a material that can find its place in the hands of the right people.

We are more than just a community of tech nerds and business-savvy people. We are a community of hungry, driven people who are out to leave an important mark in this world one way or another. Every day, we have members of the community revolutionise some fundamental part of human life like trading, or mobility, or transport—the list goes on!

We believe that in each one of these pursuits lies a narrative that deserves a platform. By shedding light on these stories, we don’t only invite people to engage your brand, but we also empower and embolden young members of the community to see that to have a vision as mountainous as yours isn’t impossible to achieve.

A story told well drives action

At the end of the day, it’s not just a matter of telling stories but a matter of telling those stories well. Stories trigger actions by giving the audience a purpose. When you encounter content that deals with a new innovation, you are inclined to experience that innovation yourself. At its core, we think this is the best way for brands to engage their audiences.

As such, stories need to be told judiciously and generously. You cannot simply announce an innovation and expect that world to come knocking at your doorstep. You need to explain that innovation in ways that make it both relatable and necessary. Good storytelling is the secret to achieving that: when you are able to spur human interest by providing what is most human, and therefore, what is most real.

This belief is what has long galvanized the e27 brand. By telling other people’s stories, we get to tell our own. Only in being the bridge that binds our community together do we ultimately get to define ourselves and our role in a larger, broader world. We need your help to achieve that.

For more information, check out our content services here.

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In addition to gojek, we also have updates from PropertyGuru, Indigram Labs Foundation, and Grab

gojek launches GoCar Instant for airport transportation service – Press Release

Indonesian ride-hailing unicorn gojek today announced the launch of GoCar Instant, car-based transportation service from Soekarno-Hatta International Airport.

GoCar users at Soekarno-Hatta International Airport can now select to be immediately picked up at designated GoCar Instant Pick-up Points at Arrival Terminals 2D and 2F.

The company explained that upon completion of a GoCar Instant booking, airport officers stationed at pick-up points will direct users to their car. It also plans to expand the services to Arrival Terminal 1A and Domestic and International Terminal 3.

gojek has also launched GoRide Instant at Depok Baru Station and Blora Market, which are adjacent to Sudirman Station and Dukuh Atas MRT Station in Jakarta.

PropertyGuru names new Chairman, Independent Director – e27

Southeast Asian property tech giant PropertyGuru today announced the appointment of Olivier Lim as Independent Chairman to the Board as well as the appointment of Jenny Macdonald and Melanie Wilson as Non-Executive Directors.

Lim is an experienced Chairman and non-executive Director who is currently Chairman of Certis CISCO and Frasers Property Australia. He was a former Chairman of ASX-listed Australand, and currently serves on the Board of Directors of DBS Bank and the Board of Trustees of Singapore Management University (SMU), amongst others.

Macdonald is a former CFO with “considerable” experience in marketplace businesses and is currently a Board Director at Bapcor and Redbubble, amongst other companies

Wilson has “many years” of experience as a Director for consumer-oriented businesses and currently sits on the Boards of Baby Bunting, iSelect, and EML Payments, amongst other companies.

Also Read: gojek adds GoGames into its ecosystem to facilitate Indonesian gamers

Indian incubator Indigram Labs Foundation launches rural agribusiness initiative – Press Release

New Delhi-based tech incubator for agribusinesses Indigram Labs Foundation (ILF) today announced the launch of the Smart Village Program to facilitate agribusiness development in the rural areas.

Through the “Adhunik Gram” initiative, the incubator aims to nurture and promote agri-preneurship and village economy development.

It has been supporting startups in the agriculture, food, renewable energy, and healthcare sector.

Applications for the programme are now open until the end of October.

Grab teams up with Sejasa to launch Clean & Fix – DailySocial

Southeast Asian ride-hailing giant Grab and Indonesian on-demand services platform Sejasa teamed up to launch home and appliances repairment services Clean & Fix on the Grab platform, DailySocial reported.

The collaboration followed the announcement of Sejasa as one of the best graduates of Grab Velocity Ventures.

Grab Indonesia Executive Director Ongki Kurniawan said that the new service is the result of a hypothesis produced by the two companies’ pilot project in December 2018. Previously, Grab has included Sejasa’s service as a widget on its platform.

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Image Credit: putriaey on Unsplash

The post Today’s top tech news, Sept 10: gojek launches GoCar Instant at Soekarno-Hatta Int’l Airport appeared first on e27.

In your many years of work experience, you will have figured out your strengths, and be able to use it to your advantage

I have heard many people say, “I’m too old to start a business” and that the world belongs to those who are young. 

I started my marketing agency with my brother when we were in our 40s. 

When we told our family and friends about our decision, we were mocked. The opportunity cost of starting a business is much higher when you are more advanced in your career. 

To quit your job and start a business is akin to dumping the career that you took many years to build.

While we often associate startups with young people who are extremely passionate, research suggests that older entrepreneurs are more likely to succeed. 

It certainly didn’t feel like that when I and my brother started out five years ago. 

Despite this, we both know that the learning curve would be much steeper if we started our business fresh out of school.

Here’s why we encourage experienced individuals to start a business:

You would have mastered your craft 

After many years in the corporate world grinding it out, you will have honed your craft. You have many years of experience to draw from. 

If you’re providing a service, you would be able to directly apply your area of expertise to your clients. 

If you’re offering a product, your area of expertise would be put to good use in managing a specific aspect of the business whether it’s working on the business financials, marketing or developing the product.

You will know how to set goals and map out what it takes to meet those goals. 

Also Read: Why be a thought leader at Echelon Asia Summit 2019?

 Basically, you wouldn’t be starting from scratch.

You would likely have managed a team before

One of the most challenging things about running your own business is having a good team by your side. 

Your team needs to run alongside you in projects when the going gets tough. They need to be constantly motivated. 

We have had many issues that arose from managing our teams. 

But, as we have managed teams in our corporate jobs before, it was not something totally new to us. 

Your experience managing junior colleagues in a corporate environment equips you with the necessary skill sets to set directions for your team, delegate work and mentor younger staff when you start a business.

If you’re faced with unexpected situations such as managing staff who don’t deliver, you would be less perplexed, as many of these situations have occurred in your team at your corporate jobs before.

Yes, you would definitely face greater pressure as a boss because you are responsible for bottom lines and for your staff’s salaries.

But, the soft skills that you gained managing teams in your corporate jobs help guide you as you make the leap from a salaried worker to an entrepreneur.

You will know the industry inside out 

If you’re starting a business in an industry that you have been working in for many years, you would know the industry inside out. 

You will have a more extensive network of suppliers and partners who will be able to support your business. 

You may even get clients or colleagues from your previous corporate jobs who support your new venture. 

When we first started, our previous clients who knew about our agency were one of the first few to support us. 

They helped us sustain our business and contributed to our first few shining testimonials. 

Also Read: Meet the 10 Indonesian fintech startups you may have never rooted for before

Making the transition from a salaried employee to an entrepreneur is definitely no easy feat. It takes immense courage and poses a huge learning curve.

But, you should use your corporate experience to your advantage and don’t ever think that those years were spent in vain. 

Having decades of corporate experience means that you’ve been in all kinds of situations and have probably been burnt by betrayals in the workplace or failed projects before. 

You would have developed thicker skin after weathering various setbacks in your career paths.

You are not so worried about what others think, because you know the vision that you have set for your business and what it would take to get there.

If you’re in your 40s and think that you’re too old to start a business, I hope this helps you to make the leap into entrepreneurship.

Your age is your advantage.

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Image Credit: Charles Forerunner

The post Why you should start a business in your 40’s appeared first on e27.