Year: 2019

Coda Payments raises more than US$20 million – Press Release

Singapore-headquartered fintech company Coda Payments today announced that it has raised a more than US$20 million funding round led by Apis Partners, a private equity asset manager that backs growth-stage financial services and financial infrastructure businesses in Asia and Africa.

As part of this transaction, Apis and one of Coda’s existing angel investors Toivo Annus acquired shares from several of Coda’s seed-stage investors.

“We are delighted to partner with the Apis team, whose deep knowledge of the payments landscape in emerging markets will be invaluable as we grow our geographic footprint and product range to better meet the needs of our clients,” Coda Payments CEO Philippe Limes said in a press statement.

Since it began processing transactions in 2013, Coda said that it has tripled the total value of payments that it processes every year on average; customers now initiate up to 3.6 million transactions/day on Coda’s platform.

The company helps Tencent, Garena, Netflix, and other publishers monetise games and other digital content in more than twenty emerging markets.

Hong Kong-based Volt14 raises US$955K – Press Release

Hong Kong-based battery nanomaterial startup Volt14 today announced an S$1.3 million (US$955,000) seed funding round led by 500 Startups, HKSTP Ventures and Entrepreneur First.

The startup develops a novel material to replace existing graphite in Li-ion batteries, which aims to increase the energy stored in the cells by up to 70 per cent.

Since Li-ion batteries are used in phones, laptops and electric cars, the startup said that it effectively results in cars or smartphones having 60-80 per cent additional power stored after every full charge.

Volt14 plans to use the funding to further refine their material for consistent mass-production, and to support the production trials they have with battery cell manufacturers in the pipeline.

Also Read: Coda Payments announces new round of funding from IMJ Investment Partners and others

Uber’s chief product officer steps down – TechCrunch

Uber Chief Product Officer Manik Gupta announced that he is leaving the company, with his last day being December 13, TechCrunch reported.

His resignation was announced in a note to the company’s product team.

Gupta later spoke to TechCrunch that he felt “now is a good time” for him to take a break to be with his family before embarking on a new plan.

NIUM expands to Brazil with new partnership – Press Release

NIUM, the digital cross-border payments platform formerly known as InstaREM, today announced a partnership with Brazillian foreign exchange broker Frente Corretora de Câmbio that marks its entry to the Latin American market.

To start with, NIUM will conduct outbound money transfers to the US for Frente’s clients and will extend its services to other countries including Japan, Australia, and Canada soon.

Initially, the partnership will serve retail customers, and the service will be extended to the corporate and SME customers in the near future.

“Brazil is an important market for NIUM, and with Frente partnership, we are looking to expand our presence in Latin America,” said Prajit Nanu, co-founder and CEO of NIUM.

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Want to learn more about fintech in Malaysia? Get the e27 Malaysia Fintech Ecosystem Report 2019 here.

 

Image Credit: Swapnil Bapat on Unsplash

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We’ve known and used Spotify, Apple Music, Tencent-owned JOOX, and its fellow music services like Deezer and others. For music enthusiasts, Shazam -the app that also allows listeners to quickly find out what song is being played and add it into their playlist- may even come to play.

Just recently, we welcome YouTube Music from the giant video streaming to dedicate the platform for the music universe. Albeit being hailed as one of the hardest industries to break into, technology instantly paves out new ways for artists and music listeners to be involved in the sector.

According to We Be Social and Hootsuite 2018 digital report, consumers worldwide spent US$11.2 billion on digital music streaming in 2017.

In an article by The Asean Post, it is stated that the region has seen diverse music streaming apps due to the higher Internet penetration in Southeast Asia.

The same We Be Social and Hootsuite digital report shows that 81 per cent of Southeast Asia’s population uses a broadband mobile connection. Along with the increase in disposable income, people can pay more for entertainment which has also led to the growth of streaming services.

According to the 2016’s McKinsey report, JOOX accounts for more than 50 percent of all music streaming app downloads in Asian markets with over 50 million downloads. The article by The Asean Post further noted that JOOX’s localised content approach may play out well for Southeast Asian listeners, with its music curation based on its users and their locations.

When it comes to understanding its local players and listeners in the national music scene, these startups can offer something that’s more local-centric than the behemoths that try to penetrate the region.

Musiio, Singapore

Musiio is a music tech startup that uses AI to “classify any music track according to its features and patterns, which makes it easier to discover new tracks”.

With how Musiio works, new music tracks by different artists can get an equal opportunity to be heard. In an article published by KrAsia, the Entrepreneur First (EF) graduate claims that it offers a more efficient and timely tech-driven approach to be able to reduce the time required to plow through 100,000 music tracks to 5 seconds.

Also Read: Paktor’s parent M17 Group acquires MeMe Live, to expand its footprint in live-streaming space in Asia

In the past, Musiio has raised US$1 million in a seed funding round, with Wavemaker Partners and Exponential Creativity Ventures among the investors in the round. TechCrunch said it is the first venture capital-backed music AI startup in Southeast Asia.

Musiio’s co-founder Hazel Savage said that the company’s first big client is a Creative Commons-like free music site, Free Music Archive. Musiio helps to surface tracks that might otherwise remain undiscovered.

Fungjai, Thailand

According to The Asean Post’s article mentioning the Thai startup, Fungjai tries to fill in the gap that’s left open by how Spotify and Apple Music’s algorithms mainly target mainstream and international artists, dismissing local undiscovered artists.

In an article by KrAsia, Fungjai started off with the founder’s interest in small bands that can only go so far in digital media and bug music streaming platforms. The founder, Sarun Pinyarat, said to BK Asia City publication that Fungjai is trying to build a music community through facilitating things like Hed-Sod concerts and seminars.

Seeing how streaming service can become a solution for small artists, Fungjai was born with the very purpose.

“We are sure that others would see the value of being able to stream quality Thai music, so we kept at it,” said Pinyarat.

As of now, Fungjai is 100 per cent free of charge. Fungjai states that in the future, it might help with crowdfunding for rising artists.

KHhits, Cambodia

KHhits is a Cambodian startup with little to no elaborate presence online, but it has made names in startup community.

First, it was among the startups competing locally in Cambodia to represent the country regionally in TOP100 Echelon Asia Summit last year.

Second, it was the runner up in co-working space network Outpost’s startup sponsorship competition. It won a prize in a free co-working space for three months.

According to Geeks in Cambodia’s article, the startup consists of 6 people that aims to establish a ranking chart for Cambodian music using data mining technology. The company plans to launch a platform for fans to enjoy the music from major music corporations with the intent of collecting valuable information about fans’ opinions, music trends, demographics, and other kinds of data for the Cambodian market.

Me-Lody, Indonesia

Indonesian startup Me-Lody tries to leverage on the cover songs business and help cover artists to get a place in the music industry.

The app-based startup gambles on providing a launchpad for cover artists to help them get discovered by music labels and producers. Producers can cut the need to hold an off-air audition using the app.

As of now, the app is only available for Android.

NhacCuaTui (NCT), Vietnam

Self-described as the largest music site in Vietnam, NhacCuaTui which means “my music”, already amassed around 10 million monthly users. The startup is headquartered in Ho Chi Minh City, headed by Nhan The Luan as president and CEO.

In 2012, Tech In Asia reported that the company received an investment with undisclosed terms from CyberAgent Ventures. It also claimed to have signed a profit-sharing agreement with Universal Music Group and Sony Music Entertainment to allow them to stream to users’ copyrighted audio and video content from both labels.

Pleng, Cambodia

Pleng offers online and offline access to more than 1 million Cambodian and international songs using technology from Hungama, India’s leading digital entertainment company. Pleng is known to be the revamped version of Smart Axiata’s Smart Music app.

Also Read: Public, private-owned Cool Japan Fund invests US$50M in gojek, keep going despite reported loss

Smart Axiata claimed to be the first to launch a music streaming app in the Kingdom, promoting local artists and organising many international concerts, as Thomas Hundt, Chief Executive Officer of Smart Axiata told Geeks in Cambodia.

Using Pleng, Cambodian artists will receive royalties for their songs.

Volup, Indonesia

Indonesia, along with Thailand, is among the top three of the most active music streamers in the region. Riding on the trend, Indonesian local streaming service Volup tries to offer internet radio, on-demand music, full track download, and video channel for music enthusiasts.

Volup’s mastermind is Reza Ario Bimo, who’s a co-founder of the company and is known to be a drummer of a notable local band, as Selular.id’s 2015’s article reported.

According to Bimo, Volup differs from the other streaming service because it ensures that every digital music on its app coming from the correct sources, allowing both the creators and consumers getting quality music.

“We have a transparent, real-time, online reporting system where the music rights owner gets access to monitor how many times their works are being streamed, rented, or purchased,” said Bimo.

As far as the industry goes into the region, Spotify, Deezer, Apple Music, and other giants remain reigning. An opinion piece published in e27 shared that piracy and lack of awareness create a society that is still yet to see the importance of paying for the music they listen to.

On the other hand, the reach of technology has made the video and music platforms a breeding ground for aspiring musicians hoping to break into the industry. The Asean Post noted that with how indie and underground bands rarely expand outside their borders, the market is wide open for regional and local music streaming platforms to onboard more users and present them with more audiences.

In the meantime, there’s no absolute answer for how these local music startups’ battle plan will keep them afloat against the big names, other than for their knowledge of the local scene.

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Want to learn more about fintech in Malaysia? Get the e27 Malaysia Fintech Ecosystem Report 2019 here.

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“I don’t have a degree in IT,” admits Vincent Quah, a regional head at Amazon Web Services. During his tenure at university, he studied microbiology. 

Today, he works for one of the world’s top cloud computing companies. So how did he make the jump?

This event’s attendees are not only invested in tech – they’re invested in employment in general, to the effect of packing a convention hall on a Saturday afternoon to figure out how to get ahead at LIT ASEAN Careers, an event co-organised by Young NTUC and Temasek Foundation. The event is designed to help professionals, some still in school, to look beyond their borders to the region at a time when the world shifts more and more toward globalization.

Singapore has a reputation for being an advantageous place to do business is nothing new. However, as globalization continues to shift the way that the workforce operates, how can job seekers maximize their opportunities and knowledge? 

The answer poses several voices at the event, lies with an exchange – sending Singapore’s already-strong talent pool overseas to work in diverse environments to contribute to the growth of the region. The hope is that they’ll come back with stories and newfound experiences on cultures and economies to inspire others.

Also Read: The case of e-wallets: which e-payment apps do Singaporeans use the most?

But even as a broad range of ASEAN-related career topics arise – infrastructure and coal in Indonesia, textiles in Thailand, and machinery in Vietnam – the conversation returns to tech: how fresh graduates can break into it, how to grow a career in it, and how to work specifically within the ASEAN region, where successful tech companies tend to be able to both hyper-localize and execute business plans on a regional level.

The good news is that stories like Vincent’s aren’t uncommon in the tech world, which changes so quickly that employees often pick up skills on the job, rather than in the classroom. 

For Lien Choong Luen, general manager of Go-Jek Singapore, his position as country head at the regional unicorn followed a career in the army that took him on different missions around the world.  

“It requires you to work hard and try new things,” he says. At the end of the day, that would be enough translatable experience to propel him into the tech world.

Here, Choong Luen shares his experience from an interview he had in China for an internship, where he had to answer three questions: 

1. Why should I choose you instead of someone else?

2. What is your industry or market expertise?

3. What is your long-term commitment? 

It’s not that the job required exact answers for these questions, Choong Luen details, but it’s a useful framework around which to craft your approach to job hunting and interviews.

The industry needs people of all backgrounds in these areas that Lien Choong names as the areas where talent can make the most impact right now.

1. Data science

As globalization pushes companies to compete on larger and larger playing fields, being able to draw out stories and actionable insights from giant sets of data – customer data, lifestyle data, etc – has become a necessity. 

While data science degrees are available from universities, the world of data requires those working in it to keep on their toes and continue learning, as the field develops new applications every few months that stretch even into traditional industries like accounting. The field is growing rapidly within tech, and it requires talent globally.

Also Read:  6 effortless ways to grow your small business through social media

Data science is a field that can require its employees to have skillsets ranging from higher mathematics, Python coding, or the ability to tell stories with numbers.

2. Cybersecurity, trust, and safety

Depending on the company, gaining users’ trust on an app can look like stellar customer service skills or legal know-how when it comes to dealing with law compliance across Southeast Asian countries with slightly different regulations around national safety and a developing regional approach to privacy. 

Building customers’ trust with a brand, especially one that handles sensitive information like their credit card numbers, requires more than just developers. It requires marketers who know what tools to use to find their audiences and programmers who know how to work with teams – from customer service to lawyers.

That means that this is a field that has a wide range of opportunities. Those looking to break into cybersecurity teams can look to hone their developer skills for systems design or protection. 

However, this is also a field that requires communication – within companies, with customers, and with company policymakers – to help communicate that trust and move tech companies forward.

3. Leadership

Not every leader in tech has a background as adventurous as Choong Luen’s, or one that involves a pivot like Vincent’s. However, their careers are testaments to the number of different experiences needed to take tech companies to the next level. 

Also Read:  Great business leaders challenge their employees all the time, and on-the-job experiences can be a powerful way to master new things

But how does that translate into leadership? When one needs to lead a cross-discipline team where talent may span from product development to testing to developing, what kind of experience does that manager need to bring to the table?

Tech leadership is a field where several different backgrounds can apply – just be ready to talk about how and why your certain skills and experience apply to management in the interview.

Finding the right path is up to you

Many roads lead to tech, but it’s up to job seekers to steer themselves moving forward. When in doubt, take the harder choice, which often results in more growth. 

“Seek the path of most resistance as you are learning, and assume the greatest risk that is possible for you, given that you are young. There is no sort of perfect market opportunity. Within each market, find one that you love, and go for it,” Choong Luen concludes.

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HarukaEDU, Indonesia-based edtech startup, announces that it has raised Series C funding led by SIG, a US-based global trading firm, with participation from AppWorks, GDP Venture, and Gunung Sewu Kencana, DealStreetAsia has learned. Samator Education also came back to join in the new round after joining Japan’s CyberAgent Ventures and VC arm of global education company Pearson Affordable Learning Fund (PALF) in HarukaEDU’s Series B round in 2016.

The company said that it will use the fresh funds from the new round to support the expansion into B2B services through its corporate online training platform as well as backing up its lifelong learning platform, www.Pintaria.com, aimed at helping Indonesian working adults to upskill and reskill.

HarukaEdu provides an end-to-end solution to empower higher education institutions to go online to facilitate their student capacity and improving the quality and efficiency of the learning experience.

This year HarukaEDU. The program leverages the company’s deep experience in pedagogy, technology, and working with institutions, in a bid to help clients into a blended, micro-learning program.

HarukaEDU said that it has entered the corporate training market this year with CorporateEDU.

Also Read: HarukaEdu raises US$2.2M to help working Indonesians access higher education

The programme, the company said, helps clients transform their offline employee training program into a tailored online/blended learning degree programs that are more cost-efficient than the regular offline programs. It hopes to allow more working adults to affordably access to quality higher education with more flexible study schedules.

“With this approach, we aim to achieve the same learning outcome compared to regular offline training, yet reducing the number of working hours spent on training by 50 per cent, offering companies potential savings of millions US$ per year,” said HarukaEDU CEO Novistiar Rustandi.

Next year, HarukaEDU plans to focus on vocational training programs through its educational portal, Pintaria.com. The company has stated that it’s committed to up-skilling and re-skilling Indonesian millennials as they prepare for the Industry 4.0 era.

Indonesia has been optimistic about having the country’s next unicorn to be an edtech startup. At the moment, HarukaEDU is one of three larger companies in the country in terms of secured funding, along with Ruangguru, which has just raised its Series B funding round from East Ventures and UOB Venture Management in 2017.

Also Read: HarukaEdu offers affordable, accessible and social online education

Last month, Singapore-headquartered private-equity firm Northstar was reported to be in talks with Zenius Education to lead a US$20 million funding in the company.

The company said it works with more than 15 higher education institution partners in Indonesia, offering over 20 accredited online and blended learning degree programs.

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For the past 10 years, we have been watching a race for the desired status of “Asian Silicon Valley”. With each passing year, the scenario becomes increasingly intense, competitive and fascinating for those in love with the technological world.

Similar to the United States’ technology hub, all of these emerging hubs share thirsty millennials, inspiring environments, and visionary investors.

Hand in hand with this evolution here are the 5 artificial intelligence companies in Asia:  Sertis – Bangkok, Adatos.AI – Singapore, Dropdeck – Ho Chi Minh City, Kata.ai – Jakarta and Glueck Technologies – Kuala Lumpur. 

Take a look at what they are doing!

 

Bangkok 

 

 

Tuk-tuk noise, 78.0 per cent average humidity, and the constitutional monarchy regime don’t seem to scare startups that are sprouting in the Thai capital.

Some companies are taking advantage of Thailand developed infrastructures, low prices and less competitive economy as a gateway to neighbouring markets.

Startup Thailand 2019, Southeast Asia’s biggest tech conference, placed Bangkok on the map and proved how vibrant is the panorama. 

 

Sertis

 

Image credit: Sertis

Sertis is a leading data and AI innovation company, established in 2014 with the belief that data analysis based on fact is the ‘heart’ of strategic decision making in businesses.

They bring data science innovation to uncover valuable insights and solve complex business problems. 

Moreover, they apply advanced data analytics, artificial intelligence and machine learning to tackle difficult problems faced by businesses.

Singapore

 

 

The prematurity of the country makes it feel an entrepreneurial spirit at a national level. The city-state has been recognised as the most “technology-ready” nation by the World Economic Forum.

Long established as a financial centre, Singapore has become the leading startup hub in Southeast Asia thanks to a combination of ready capital, government policies and quality of life. The latter facilitates the capture of the best talent in each area.

Adatos.AI

 

Image credit: Adatos.AI

Adatos.AI is focused on building artificial intelligence solutions for satellite remote sensing in sectors including agriculture, forestry, food security and sustainability. 

Since its set-up in 2016, Adatos has been leveraging Singapore’s strategic location to tap client and talent networks across the region.

Also read: The battle between private and public blockchains

Combining AI and geospatial data they created an effective and inexpensive tool that enables agricultural producers to gain a deeper understanding of their farms and plantations and better monitor operational efficiency.

Ho Chi Minh City

 

 

The government through various investment incentives is trying to revamp the Vietnam economy that is still today based on agriculture. 

Ho Chi Minh City has kicked off construction of an incubator for local tech startups inside the Saigon Hi-Tech Park, already home to tech giants such as Intel and Samsung. 

Much of the tech startup activity in Vietnam centres on blockchain and cryptocurrency technologies.

 

Dropdeck

 

 

One of the most promising startups is DropDeck. Their product is a decentralized, cross-border investment & lending platform for startups & SMEs. 

Also Read: Artificial intelligence and the art of building presentations

They are trying to combine AI and blockchain elements in one platform in an attempt to streamline venture investment & lending.

 

Jakarta

 

 

Located on the northwest coast of Java island, the Indonesian capital can sometimes not seems the easiest place to live or even to make business, infrastructures are a real problem and the traffic jam is scary.  But the world’s fourth-largest population, of over 260 million people, 60 per cent of whom under 40, really excite investors.

Despite the lower internet penetration rate (50 per cent), other Southeast Asia countries cannot compete with the Indonesian market because they have smaller populations. 

It is impossible not to notice in the acceptance of ride-hailing apps (Uber, Go-Jek, Grab), green motorbike helmets are everywhere and delivering everything, food, hail motorbikes, get the plumbing fixed, and pay for it via e-wallet.

Kata.ai

 

Kata.ai is an Indonesian conversational Artificial Intelligence company focused on understanding human conversation to empower the way humans collaborate with technology. Kata.ai’s Natural Language Processing (NLP) technology powers multi-purpose chatbots for major corporations in Indonesia across different industries, including FMCG, Telecommunication, Banking & Financial Service, and Retail.

Also read: Anti-money laundering startup Silent Eight, raises US$6.2M from Wavemaker Partners

Kuala Lumpur

 

 

In the Petronas Towers shadows, the scene is not less vibrant, unlike most countries, it was the Malaysian government that led the beginning of the digital transformation. The former prime minister, Najib Razak, used cloud tech in the public sector as the starting point for the digitalization strategy.

In 2017, the country launched the Digital Free Trade Zone (DFTZ) initiative for local small-medium enterprises to gain more access to global markets by lowering trade barriers. For that reason, Malaysia became also a good gateway for tech startups to expand their reach to the Southeast Asia market.

 

Glueck Technologies

 

This AI startup is focused on understanding human emotions. They built a product that uses AI, data analysis and a camera to measure shoppers emotions in real-time. The algorithm should understand the human emotional state, profiles, and responses to real-life stimuli.

Using this technology media and advertising companies can more efficiently target their campaigns, segment their costumers and get better results.

These successful startups will help drive the transition from an industrial and manufacturing-based economy to a service and technology-based urban society.

Also Read: What will the third-wave of artificial intelligence look like?

But will these technology-based urban societies be less uneven? 

The factors that make this region a golden opportunity are at the same time very socially worrying, if we observe, for example, that while many in these developing countries live in poverty, they still spend considerably on smartphones. Over 50 per cent of the population is under the age of 30, and 90 per cent of the subset has internet access. 

In places where wifi has come much sooner than piped drinking water, we all hope that this set of tech startups will have a more positive impact than the big multinationals that have settled in the past.

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

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Brady Bellini

 

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You just created an amazing product and you want the world to know!

Even though things should be easy with the abundance of product management tools at your disposal, they are not. Without a proper launch strategy in place, your product will be lost in an ocean of competitors or be overshadowed by other features that your business already offers.

There are certain key steps to keep in mind in order to create a successful product launch strategy.

1. Define your audience

When you were creating this product, you had a certain audience in mind.

To define your audience, you need to define some basic demographic information. If you don’t know who you expect to buy it, how are you going to sell it to them?

Age

Defining the age correctly is important because consumers will respond differently based on their age. Being clear on who your primary target market is will also allow you to choose the right channels for your product.

Gender

Men and women respond differently to different marketing techniques. Failing to understand who your primary audience is might result in both genders not being quite sure if they should buy your product or not.

Income level

This is critical as it will help you price your product correctly. Is your product designed to save money? Is your lower price your competitive advantage? Then, maybe your target audience is middle-class individuals.

Location

Targeting Europe as a whole is great, but it is too large of territory for a launch. Zero in on the most likely location that will respond favourably to your product and start from there.

Spreading out your marketing budget over a large area will not give you any results (unless of course your startup has been funded with USD$20 million and you can afford it).

Also Read: After launching our product, here are lessons learned about products and customers

There are other parameters to use to narrow down your target audience further. The more you learn about your potential audience, the higher the chance of reaching them effectively.

2. Define the problem and the solution

People do not have that much time to spare these days. In fact, according to The Digital Information World, their attention span is in the area of 0.05 and 0.08 seconds. If you fail to get your point across in that time, you might miss your opportunity to sell your product.

Letting your audience know right away “why” they should buy your product is essential. A common method that high-tech innovative companies use these days is “if you can explain this to your grandmother in under five minutes” then you have your “why” cleared up.

3. Choose your channels

Once you define your audience, you will be in a position to research and find out which channels work best to reach them. Different generations prefer different social media channels for example.

Facebook is popular with millennials, while gen X is choosing to split their attention between Facebook and Instagram. Then you have teens who, by a majority, spend most of their time on Snapchat.

The more you know about your target audience, the easier it will be to target them on the right channels.

4. Design the buyer’s journey

This is not a cut-and-paste situation. Each product solves different pain points, and the buyer journey needs to be in a position to guide the potential customer accordingly.

1. What are your customers’ expectations?

2. What is the major pain point your product is solving?

3. Who is most likely to influence them into buying your product?

The perfect buyer’s journey is supposed to move your leads through the sales funnel with ease. This means that you need a lot of content to satisfy the informational needs of your audience at every stage.

You will first need to create content for awareness purposes, then establish the problem, explain why your product is the best solution, convert the lead into a client, and finally have the client rave about your product and refer more clients to you.

Make sure you inform your content development efforts with relevant data. To do so, you can use content marketing and analytics tools like Cortex to understand what colours, themes, subjects, and messages resonate with your audience. You’ll be able to use these insights to create an effective product launch content strategy.

5. Define your competitive advantages

You have to perform a lot of research and clearly define how you are different than competitors.

1. Is your product cheaper?

2. Is it built from higher quality materials?

3. Is your product innovative, in that it solves a problem that no one else has been able to fix so far?

Also, you need to know where your potential competitors are.

For example, a successful launch strategy might mean that you’re targeting an entire location that no one else is servicing yet. This immediately removes the barrier of competition during the sensitive launch time.

6. Create a compelling offer for your audience

When you are about to launch, you need to consider offering a free demo (if you have a software company, for example) to people.

If you are selling a traditional product, create small samples. Consider free trials for any subscription-based products or services, as you want your audience to feel less anxious about trying your product.

Also Read: A comprehensive guide to handling product returns carefully without upsetting customers

Change is not easy for most people. By removing the stress that comes along with spending money, you are increasing your chances of people using your product. From that point on, you will need to have a good retention strategy in place.

7. Sort out your branding

Branding is always important, but even more so when you are about to launch a brand new product. Choose your branding carefully so it speaks to your target audience.

Communicate your branding guidelines to everyone involved in marketing and sales, and ensure they are following the guidelines correctly. This creates consistency and trust.

8. Collect data

You might get everything right and your launch is extraordinarily successful. But, in most cases, marketing strategies need a lot of adjusting before they start working properly. Make sure you have your key performance indicators (KPIs) defined, and your analytics tools set up correctly.

This way you will be able to measure your clicks, keep an eye on your funnels, identify where you lose potential customers, and see what is working according to plan.

9. Keep testing

Use any data you collect and continue to test your audience. For example, create various landing pages and use different ways to explain the problem. Then observe to see which landing page is getting the most clicks.

Keep testing and refining your campaigns, even after the launch period has passed. You can test content, CTAs, images, offers, etc.

Wrapping up

Make the most of the steps given above to organise your efforts.

Have you implemented any other steps to help you successfully launch a new product? If so please share them with us in the comments.

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

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

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Amadeus Ventures will invest in early-stage startups sitting at the crossroads of technology and travel in APAC starting 2020.

The funding support for startups signals the strong potential the region holds for investors in the long term. Amadeus Ventures will provide funding, industry expertise, technology, and customer reach to its portfolio companies, executing business ideas that will, directly and indirectly, improve the experiences of travelers.

According to Google’s e-Conomy SEA 2019 report, more than $37 billion of capital has flowed into the Internet economy over the last four years. While the majority has gone to e-Commerce and Ride-Hailing Unicorns, over $7 billion in investment funding went to more than 3,000 Internet economy startups in the last four years in South East Asia. China is also driving ahead of Silicon Valley and the rest of the United States on venture capital dollars invested into startups.[2] It is also the world’s most funded company in terms of Travel & Mobility tech.

Born in 2014 as an innovation vehicle to drive collaboration with the startup ecosystem, Amadeus has introduced more than 150 startups to its business units and has developed more than 20 joint projects with its portfolio companies like Refundit, Volantio and Dawex.

Also read: This bespoke travel curator could take you to places that you don’t even know existed in this world

“Our main aim in expanding Amadeus Ventures across APAC is to encourage and nurture innovation in the travel industry. We not only offer funding but also our industry expertise and network to help young start-ups achieve their strategic and commercial goals,” said Suzanna Chiu, Head of Amadeus Ventures.

Stephanie Strunk will be the Amadeus Ventures representative for the region, searching for the latest innovations in travel technology startups, she says of the industry: “Travel startups across APAC are frequently disrupting the industry, challenging the way we think about innovation. To keep up with the pace of change, funding for travel startups is increasing at the same rate – reaching record highs. With China leading in this space, we don’t expect the rest of APAC will be that far behind, working on new solutions and ideas to enhance the overall traveler experience”.

Startups who are interested in finding out more about Amadeus Ventures can proactively reach out by filling in the dedicated form on the Amadeus website.

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Want to learn more about fintech in Malaysia? Read the e27 Malaysia Fintech Ecosystem Report 2019.

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You may have read various articles on e27 about fundraising for your startup –from creating the perfect pitch deck to stepping up your communication game.

But have you ever wondered when you are going to implement the skills and knowledge that you have learned? You know that VC firms are always on the lookout for potential investments, but does that mean you can simply walk into Mordor—oops—their office and start pitching?

This is why we believe joining the 2020 TOP100 APAC is great for your startup in its fundraising journey.

As part of the annual Echelon Asia Summit, TOP100 is a curated programme designed to discover, showcase, and accelerate the next generation of up-and-coming startups.

The programme consists of qualifying rounds that are set to be held in six Southeast Asian cities in early 2020, followed by the Echelon Roadshow events.

Also Read: Measure up to the region’s best and brightest at the 2020 TOP100 APAC

Joining TOP100 is a great opportunity for you to meet leading investors in the Southeast Asian startup ecosystem. Here are the three reasons why:

You will be judged by partners at leading VC firms in the region

For the qualifying rounds, the e27 team curated a team of judges consisting of leading names in the regional VC scene. Apart from deciding who makes it to the next stage, this year we make sure that the judges will spend extra time to give you feedback on how to improve your presentation skills. You will walk out of the room feeling more prepared for your fundraising journey.

You will meet your match on Echelon Connect

Designed specifically to match startup to a meeting with potential investors, Echelon Connect is the platform that is meant to help your startup grow. Investors themselves can expect a factsheet of companies and facilitated business meetings to accelerate deal flow.

You will get to meet and rub shoulders with them during Echelon Roadshows

After every TOP100 qualifying rounds, you will get to take part in Echelon Roadshows, where you got to see exciting talks on stage and network with fellow participants and potential investors on the side. Who knows? A single light conversation can lead to many things …

So make sure that TOP100 is part of your fundraising journey. Register now.

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Bootstrapping – the thorn in the side of the startup vocabulary. Even the very mention of the word can put chills through your idea before it even leaves your lips. The concept behind BS’ing is “to pass the hat – ROUND – of funding”, calling on family and friends to get involved financially in your “Industry 4.0 plot to change tech as we know it” or whatever it may be. The ability to BS (now now, you know the acronym I’m referring to here), from the get-go is essential, as investments from angels or VCs may be a mirage on the horizon only seen by your hunger to succeed. It may feel like a negative force but in my opinion, BS’ing can be fundamental to the longevity of your startup.

The days of unique ideas that gain investment overnight are few and far between – superseded by conceptionally similar, but more efficiency in delivery. This results in both angels and VCs doing intensive due diligence on any potential investment, as inevitably the more players in the game can mean less ROI.

What always raises my level of interest on the startup circuit is hearing the words, BS’ing has got us this far, which shows me the founders are true believers in what they are trying to achieve. This, in turn, gives them the ability to present their pitch with clear forecasts based on sales already achieved in their target market. Therefore, resulting in an appreciation of money as a prerequisite for maintaining a healthy burn rate.

This is evident when you speak to a startup with no BS’ing V’s BS’ing experience. One common denominator will be the different variations in funding required. In most cases, you can expect a more detailed configuration on the financials from the BS’ing startup, as they have a precedent to work from for their calculations.

Also Read: Bootstrapping your startup: 4 easy ways to grow faster

My top three benefits of bootstrapping:

Educational value: BS’ing provides a steep learning curve for you and your team, leaving you with a deep grasp of the knowledge required for rollout. From logistics to accounting, regulations to market research, basically all the dynamics associated with your startup which all fall under this “CEO crash course” remit.

Customer relations: As you will be entering the market with a “soft launch”, full of trials and tribulations, whether it’s a product or service, you will have limited customers. Remember when your BS’ing, your customers become your basis for feedback. Tweaking your concept to adjust to your customers demands here will accelerate your B2B or B2C sales. If you can polish what it is you are bringing to the market led by customer feedback, this data to you is priceless. In a sense, your customers are also your VCs as they are investing in your product/service, validating your concept.

Commitment: BS’ing soon filters out the commitment levels of your core team. Their involvement will mean financial sacrifice in lieu of equity. Some will stay and some will go. They are not be judged for jumping ship, as people have lives to lead and bills to pay. It will be a stressful time so it is imperative that all cornerstones are dependable.

Also Read: Bootstrapping or Venture Capital: The pros and cons every startup should consider

Helpful tips for BS’ers:

• Engage local business support services in your area. There are entrepreneurs in most communities or online today who would only be too happy to offer insights. Reach out to them which in turn also improves your networking skills.
• Check out what government initiatives are within your region as many are free and will have the ability to help you accelerate or scale.
• Use your social platforms to broadcast your message, you will be surprised how many companies start like this, as not only does it give you an entry point in to the market but it also gives you an indication as to how your product or service is being perceived.

To Summarise: The BS’ing journey can be long and feel draining not just on your wallet. As remuneration for your time and hard-earned cash, know that you are obtaining certain skills that will set you on a trajectory for success. You should gain some inspiration knowing that the likes of GoPro, SPANX and many more started the bootstrapping way!

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A previous version of this article first appeared on nfinitiv.

Image Credit: Kelly Sikkema on Unsplash

The post The essence of bootstrapping! appeared first on e27.

In mid-2019, Indonesian state-owned Bank Rakyat Indonesia (BRI) made headline when it launched a corporate venture capital (CVC) firm —BRI Ventures.

The launch of the CVC firm was the latest in the ongoing trend of local banks and mega-corporations dipping their feet into tech investment. Even William Gozali, VP Investment at BRI Ventures, admitted that BRI was “a bit late to the party.”

But the decision to enter the VC scene this year was not without consideration.

“Being late to the party enables us to learn from others’ experience,” he speaks to the press at the sideline of Nexticorn International Summit on Friday in Bali.

“Now is the right time for us to launch as we can move with calculated risks … With everything that we have learned, we should be able to catch up,” he continues.

Launched with a US$250 million fund in tow, BRI Ventures is aiming for startups in the Series A and B stage. The firm is looking for companies with a working business model and product, with the potential to collaborate with BRI.

Also Read: Creative Ventures launches US$50M fund to bring deep tech to Southeast Asia

It is currently focussing on fintech and fintech enabler companies. However, next year, it will start investing in other verticals such as the creative industry (including fashion), agriculture and maritime, education, healthcare, and travel.

“Agriculture and maritime are on the list because they have been in BRI’s DNA since a long time ago,” Gozali points out, referring to the bank’s subsidiaries such as BRI Agro, which invested in the agriculture industries.

By working with BRI, startups will have the opportunity to leverage the company’s existing assets, such as its 80 million customer base in Indonesia.

“It will be more efficient for the startups as they do not have to prepare an extra budget for customer acquisitions,” Gozali says.

This is also the reason why BRI Ventures is focussing on later-stage investment.

“We don’t want the startup’s server to crash as it handles our large customer base. We need to see if they are ready [to work at this capacity],” Gozali explains.

This year, one of BRI Ventures’ most notable investments is LinkAja, the e-wallet platform formerly known as TCASH.

Also Read: Intudo Ventures debuts with US$10M+ fund, wants to bring talents back to Indonesia

On the unicorn hype

At the Nexticorn International Summit, which ran from November 14-15 in Bali, one of the most talked-about topics is the recent IPO failure of coworking space giant WeWork.

It has sparked discussions on how the Indonesian startup community should view the unicorn phenomenon.

“Even before the case [that happened to WeWork], we have always been prudent,” Gozali says.

“Bubble happens because of overhyping and too much confidence, combined with a lack of good governance. This is why we try to implement BRI’s level of discipline to BRI Ventures. At the end of the day, it’s all about business. And business is all about making value, not valuation,” he elaborates.

When it comes to burning cash, which seems to have become the go-to method for a startup to acquire its users, Gozali has his own opinion.

“Startups in Indonesia are relatively young. We just went through our first decade, with lessons to implement in the next decade. [It is understandable] to burn cash as they need extra effort to educate the consumers,” he says.

“But we notice that even some of the biggest players are putting more focus on profitability. It is a great trend because we do not want price wars. We want to see the best product wins,” he continues.

Also Read: Fundnel builds bridge to India with Anthill Ventures partnership

The venture capital game

BRI Ventures is not the only initiative that BRI made to tap into the digital era. The bank has run hackathons and incubator programme; the CVC firm happens to be the initiative it launched to target later-stage startups.

“The most exciting thing about working in VC is that no two deals are the same. Nothing is predictable. What works in the US may not work here … and it is actually the other way around today: Uber is trying to copy gojek’s super app concept,” Gozali says.

“We need to both learn and unlearn,” he closed.

The post Meet the VCs: Why BRI Ventures puts emphasis on creating value over valuation appeared first on e27.