Most modern games have in-game virtual currency models that made the transition to cryptocurrencies much easier

Stakeholders in the gaming industry are known for having an appetite for the latest technology. And any user that has played in an immersive gaming world has used virtual currency.

Blockchain and gaming are two industries that can mutually benefit from a collision.

For instance, while blockchain’s immutable ledger can supply tools that enable better monetisation for both game players and game developers. The demand for virtual assets built on blockchain will create a use case that will drive mass adoption of blockchain technology.

Furthermore, a majority of industry leaders agree that there is great promise in the fusion of the two.

In a special report by Zage on the future of blockchain, Miguel Palencia the chief information officer at Qtum Foundation says that “gaming will be one of those” industries set to have the biggest opportunities for blockchain technology in the next 5 years.

Here’s a fresh look at some of the possibilities that could occur through a fusion of blockchain and gaming.

Improved user experience and compelling gameplay

Virtual reality is increasingly becoming the next big thing in gaming. Various reports indicate that since the release of the first Oculus and Samsung VR prototypes in 2015, the global revenue of Virtual Reality gear in gaming has reached a whopping USD$4.3 billion.

Mathew Campbell the CEO of Loom Network, believes that “blockchain opens up completely new and unique capabilities for true ownership of digital assets, provably  scarce items, eternal worlds/immortal characters and multi-game spanning universes.” All these possibilities will create an engaging and immersive gaming experience like never before.

Also Read: Trust : an essential component in the success of investment oriented blockchain projects

Add scarce and virtual collectables to the whole experience, and you give gamers endless possibilities that make the gaming experience worthwhile.

Furthermore, developers could create games that operate similar to Reddit’s Karma scoreboard and have players earn points, downvote or upvote other players.

Better monetisation

Mike Brusov, co-founder and CEO at Cindicator, believes that “in the next five years gaming will become an even bigger business.” Given that the industry is expected to be worth more than US$90 billion by 2020, there is no better time to introduce better monetisation tools for developers and gamers.

Brusov believes that gaming is among the industries that are most likely to put blockchain in use “as game assets become an increasingly important source of revenue.”

From as early as 2014, blockchain-enabled gaming apps like HunterCoin and CryptoKitties have proven that even basic level crypto-collectables can be used to express value within a game and improve opportunities for revenue both for the developers and the gamers.

Blockchain can also enable a trustless exchange of in-game items (such as virtual outfits) through smart contracts to further enable the industry to become lucrative. Already, reports are showing that trading virtual items in video games is estimated to be a US$50 billion industry.

Steve Bannon, a political strategist, and former investment banker are arguably one of the first individuals to exploit the lucrative upside of in-game assets and probably the first-ever crypto miner.

Also Read: A blockchain perspective: the irony of financial inclusion

It is reported that Bannon would employ an army of “low-wage Chinese workers” to play World of Warcraft to earn in-game gold.

Bannon leveraged multiple accounts to game the system and make millions off selling virtual goods in World of Warcraft for real money. 

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As trade flows between Southeast Asia and the rest of the globe intensify, the region will naturally become the battleground for startups

Internet of Things, data analytics and Artificial Intelligence are enabling greater efficiency and more collaborative models in the US$4-trillion logistics industry, and it continues to grow exponentially as consumer expectations evolve. Incumbent players are re-evaluating business models and increasing investments into technology to ensure competitiveness, optimise effectiveness, and drive efficiencies.

As per an estimate, 50 per cent of large global companies will be using AI, advanced analytics or IoT in supply chain operations by 2023.

The newly-launched Reefknot Investments (a JV between Temasek Holdings and Kuehne + Nagel International Swiss transport and logistics company), is looking to cash in on this opportunity. The Singapore-based VC firm has just announced a US$50M fund, which will look to invest in tech-enabled logistics & supply chain startups, globally.

In this interview with e27, Reefknot’s MD Marc Dragon sheds lights on the global logistics space and the fund’s plans.

What prompted Temasek and Kuehne + Nagel to come together to launch Reefknot? What are the objectives of the fund? What is your investment philosophy?

While Reefknot Investments is a 50-50 joint venture from Temasek and Kuehne + Nagel, I can’t comment on the reasons for my two Limited Partners (LPs) to come together to launch Reefknot.

However, I can share that while the primary objective of the fund is financial in nature, the overarching objective is to identify and support startups with the potential to transform the supply chain and logistics industry.

Our investment philosophy is to invest in high-growth technology companies pushing new frontiers within the supply chain and logistics space. Beyond the pure financial investment, we further leverage our ecosystem of partners to support our portfolio companies with the necessary domain or technical expertise.

Also Read: Temasek teams up with Swiss firm to launch a US$50M logistics fund in Singapore

Our platform provides founders access to the business insights of Temasek, the logistics and supply chain expertise of Kuehne + Nagel, and an ecosystem of high-value partners who will bring added support to help accelerate the startup’s business growth.

We are very selective about the startups that we shortlist, first and foremost of which is if their core technologies and/or business model are truly differentiated, and we have line of sight of potential industry impact. The founder or founding team is also highly important for us, and we would need to have confidence in their ability to bring their business to the level we jointly aspire them to.

Startups see us as an active strategic investor, and we aspire to support our highly-curated portfolio companies with whatever means we have at our disposal.

Can you share the names of your other LPs?

As of now, Temasek and Kuehne + Nagel are our only two LPs.

Will the fund invest only in supply chain & logistics companies? Which other verticals and geographies will you target?

The realm of supply chain and logistics is vast, and within that, we are specifically targeting several solution areas, including AI/deeptech, digital logistics, and trade finance.

As this is a global fund, there are more than sufficient opportunities in this space, and we are confident that our unique focused proposition, puts us in a very strong position globally to not only identify to invest in the select transformational startups, but also to provide the necessary financial, domain, and business development support for these startups.

What opportunities do you see in Singapore and in Southeast Asia?

The global supply chain & logistics industry is on the cusp of transformation, and Southeast Asia (SEA) is very much at the forefront of this. Also, the rise of the consumer class in SEA will be a significant factor with e-commerce projected to grow by 32 per cent to almost US$90 billion by 2025. As trade flows between Southeast Asia and the rest of the globe intensify, the region will naturally and increasingly become the battleground for both global startups, as well as incumbent companies in this space.

Singapore, with its strategic location and reputation as a world-class logistics and financial hub, will likely play a key regional-centric role in facilitating opportunities for companies seeking to shape this future by leveraging on new technologies and business models. That being said, it would be necessary for startups to adopt the ‘glocalisation’ mode of design and thinking, which includes the localisation of such technologies and business models within the individual Southeast Asian countries as well.

While there are quite a few funds in the region, there has been a slight decline in terms of fund deployment because there is speculation that VCs are just waiting for the impending economic recession to happen. What is your view?

We are investing for the medium to long term, and while we take into consideration the risks associated with the macro-economic climate as part of our commercial and financial analysis for each shortlisted company, we will invest if the opportunity fulfills our primary criteria.

Some others think that there aren’t that many good companies to back in Southeast Asia…

We have had multiple interactions with various startups within Southeast Asia, and I can say with certainty that many have the ability to grow, win, and potentially dominate within Southeast Asia. There are a select few that have their eyes on Asia and beyond, and if well supported, have the potential to compete with the world’s best.

Do you think the rise of super apps and decacorns in the region has limited the chances of budding startups?

Many super apps and decacorns work very closely with niche startups. These ecosystems can be symbiotic in nature, and can potentially nurture startups within their umbrellas.

In addition, each startup has its own DNA and potential for growth. Some have the potential to be the next unicorn, and some might be acquired by the said unicorn/decacorn.

That being said, the interplay between the specific solution area the startup is focusing in, their core technologies and business models, the capabilities of the founders, as well as the capabilities of their supporting ecosystem have much to do on how large or successful they will be.

As the supply chain & logistics industry faces a period of unprecedented change driven by digitalisation and evolving customer expectations, why the market needs someone like Reefknot Investments?

There are few funds globally that specifically focus on investing and nurturing especially Series A/B supply chain and logistics technology startups.

From our engagements in the industry, there are typically three areas that startups see us of value — the knowledge and know-how of the supply chain & logistics industry, the understanding of new and upcoming technologies and their applications to the industry, and finally, we are active investors that support the startups/founders.

Also Read: Former Zalo exec’s proptech startup Rever raises US$2.3M to expand in Vietnam

We will use this focus to our advantage, to not only curate and actively support potentially industry transformational startups, but we expect to also contribute to the broader ecosystems that we are involved in through a global think-tank initiative.

How Reefknot will consolidate and leverage an ecosystem of high-value partners to bring added support and help accelerate business growth?

The world is facing explosive global technology developments and growth, especially in emerging economies and cities in the Asia Pacific. Companies across global value chains are increasingly re-evaluating business models and investing in technology to optimise the capture of demand and improve cost and operational efficiencies.

This trend drives our initiative — which is to launch a think-tank that is not only looking to synergise new business models and technologies, but also create a community of industry experts to support and sustain the growth in the logistics and supply chain space.

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People usually respond better to such visuals that tell a story

“Clutter and confusion are not attributes of data – they are shortcomings of design.” – Edward Tufte

So, what is data visualisation?

Well, data visualisation is a coherent way to communicate quantitative content visually. Depending on its attributes, the data can be represented in various ways, such as pie charts, bar charts, line graphs, scatter plot, or map. 

The image below is an excellent example of great data visualisation.

Source: graphics.wsj.com

Data visualisations should be visually appealing, useful, and never misleading.

Hence, web designers must adhere to the best practices in data visualisation and come up with the best way to present the data set visually. Today, most of the web design companies in NYC are implementing the data visualisation best practices to deliver user-engaging designs for their clients. 

Why do you need to use data visualisation?

As per IBM, every day, 2.5 quintillion bytes of data are being created.

As the world is becoming more and more connected with a large number of electronic devices, this data volume will continuously grow exponentially. Our human brain is not capable of comprehending all these data without drawing some abstract analogy. 

Image Source: Toptal

Big data becomes useless if it cannot be consumed and comprehended in a meaningful and useful way. This is why data visualisation has become so important not only in web design techniques but also in economics, science, services related to healthcare, and many more. 

Here is a list of 5 data visualisation best practices in web design:

 

1. Know your audience

The first and foremost step to create an impressive data visualisation is to have a clear idea of what you want to say and who your target audience is. 

You need to have a clear idea of what kind of questions your target audience cares about and what kind of answers your data visualisation is delivering to them. Not everyone processes data in the same way. Hence, defining a clear purpose through data visualisation is crucial.

For instance, a sales manager and a chief financial officer have different perspectives to understand profitability on a probability dashboard.

Hence, to create the perfect data visualisation, you need to make sure that you know your target audience well and accordingly design data visualization to which your audience can relate the most.

2. Show data using visual features

A variety of charts like line charts, bar charts, pie charts, scatter plots, etc. are available to present data in the best way. 

Here’s an example of using bar charts.

Source: Our World in Data

Now, which chart to use where entirely depends on the expertise of the designer’s artistic and creative mind! The right chart will not only make the data easy-to-understand but also present it in the most accurate light.

Well, to make the right choice of visual feature, you need to consider what type of data you are conveying and who your target audience is.

3. Use visual hierarchy and messaging and create a narrative flow

The best-in-class data visualisations can tell intriguing stories. These stories can turn raw data into useful information. Now, these stories can emerge from outliners, correlations, or trends in the data. 

If you are thinking that data visualisation is all about showing numbers only then you are wrong! How can you tell a great story without words? Here comes the utilisation of messaging. With the right visual hierarchy, you can guide the reader step by step through the data. 

Also Read: The big data heroes of today: citizen data scientists

4. Label data points directly

To make it easily understandable what an optical element is representing, it is essential to label it. 

Many designers use labels to tell the readers which colours or which symbols are representing what in the charts. However, it puts an unnecessary strain on the readers’ eyes and minds as they are forced to look back and forth between the data and the labels.

As a better alternative, you can label the data points directly on the chart.

Yes, sometimes it is a bit challenging for the designer, but being able to overcome the challenge is the key to success for a skilled and creative designer! You can’t let your readers go through the pain just because you want to skip some extra work. 

5. Design iteratively

Data visualisation should be done in such a way that it is not only easily understandable to customers but also can deliver the best results.

To do so, once you get the list of requirements, start with designing the concept proofs along with the prototypes.

Then, evoke feedback in an interactive setting and accordingly, revise it. It is better to avoid analysis paralysis. 

Wrapping up

The best data visualisations communicate a data set effectively and clearly by using graphics. It creates an engaged, data-driven business culture.

To encourage this encouragement further, you can send scheduled email reports and metric-driven notifications.

Also Read: 10 data security predictions by Gartner for the year 2020

Understanding your corporate culture, your audience, along with human nature as a whole, is the key to proper data visualisation. 

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Image Credit: Luke Chesser

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The investment also marks the strategic partnership between the two companies, seeking to grow the private market ecosystem for both countries

Singapore private markets platform CapBridge Group just announced that it has partnered with South Korea-based Hanwha Investment & Securities Co., Ltd. (“Hanwha”). The partnership saw Hanhwa investing US$4 million for a stake in the company.

CapBridge provides a platform called 1exchange (“1X”), a regulated private securities exchange that facilitates pre-IPO, family-owned businesses, and growth-stage companies to match with international investors. Private companies can access integrated solutions to access private markets for capital, as well as a liquidity pathway that ensures control via a private listing on 1X.

With the partnership, private businesses in South Korea and Asia can now work with Hanwha and the CapBridge private markets platform.

Investors seeking higher-than-average returns from private equity will also be able to access such opportunities via the CapBridge private markets platform.

With CapBridge, individual investors can gain access to private equity via the Preferred Access route, from as low as S$5,000 (US$3,600). The purpose is to enable individuals to commit smaller investment amounts across multiple deals as a way to diversify portfolios.

Also Read: RHL Ventures joins hands with Korea’s Hanwha Group to develop and invest in startups in Southeast Asia

CapBridge operated as private securities exchange a Recognised Market Operator (RMO) since 1x was approved by the Monetary Authority of Singapore in 2018, which was reported by e27.

Hanwha is a part of South Korean multi-profile business conglomerate Hanwha Group that provides comprehensive asset management services, including brokerage and acquisition of stocks, bonds, and derivatives.

With the partnership, Johnson Chen, founder, and CEO of CapBridge, said that the company plans to offer more private markets opportunities to companies and investors in South Korea.

Kwon Hee-baek, CEO of Hanwha Investment & Securities, said, “With this partnership, we will collaborate with CapBridge and the private securities platform 1exchange, to introduce private markets opportunities to our customers across the region. We are expanding our global digital business and look forward to extending our footprint further in South Korea as well as the growing Southeast Asia private markets.”

According to a McKinsey & Co report, the private equity market in South Korea is the third-largest in Asia and poised for more growth. Global and local acquisitions and private capital committed have been steadily increasing, and returns from private equity have significantly outstripped the public market.

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Image Credit: CapBridge

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In yet another development, Chinese microblogging website Weibo has taken down an Instagram-like app just three days after its launch

gojek on track to raise US$2B before 2019 end, says chief [DealStreetAsia]

gojek is on track to raise US$2 billion in its ongoing funding round before the end of the year, accelerating capital-raising to drive an expansion into mobile payments and food delivery.

The ride-hailing giant has now handled about US$1.5 billion of transactions outside of Indonesia, thanks to a budding expansion into the rest of Southeast Asia, President Andre Soelistyo told Haslinda Amin on Bloomberg Television.

Backed by Google and Tencent Holdings, gojek has rapidly grown an international business from scratch after setting up shop in countries like Singapore and Vietnam just nine months prior, he said.

Lyft faces sexual assault lawsuit [TechCrunch]

Fourteen women today filed a lawsuit against Lyft alleging the company has not addressed complaints pertaining to sexual assault, including rape. The suit, filed today in the Superior Court of San Francisco, seeks special, general and punitive damages, among other types of relief.

Also Read: Startups should adopt the glocalisation mode of design and thinking: Reefknot Investments’s Marc Dragon

In one case, a woman describes a Lyft driver who ended the ride more than one mile away from her house, locked the doors, told her, “I love you” and took her phone, the suit claims. It goes on to describe how he eventually pulled over the car so he could climb into the back seat, the suit alleges. That’s when he “grabbed her face to forcefully kiss her, at which time she slapped him, breaking a finger; then eventually driving her to a beach – where he raped her.”

China’s Weibo takes down Instagram-like app after logo plagiarism spat [Reuters]

Chinese microblogging website Weibo Corp has taken down an Instagram-like app just three days after its launch and apologised following accusations of plagiarism about the app’s logo, a stumble in efforts to find new sources of growth.

Weibo, launched by Sina Corp in 2009, is one of China’s most established social networking companies, alongside the likes of Tencent Holdings. But it has been seeking new ways to grow in the face of competition from startups, including short video apps Douyin and Kuaishou.

The company, backed by Alibaba Group Holdings, launched image-sharing app Oasis on Monday. Media likened it to Facebook Inc’s Instagram app as it had a similar interface and allowed users to browse, share and edit photos and videos through the app. Instagram is blocked in China.

FPL Tech raises $4.5 million from Matrix, Sequoia [The Economic Times]

First Principles Labs Technologies has raised US$4.5 million from Matrix Partners India and Sequoia India, in its first round of funding. The startup, which has already launched OneScore App for credit tracking, will also look to offer credit cards to consumers in partnership with banks.

“We believe there are another 60-65 million customers who have a good credit score who have taken loans and repaid in the past, but do not have a credit card; we can cater to that market,” said Anurag Sinha, CEO, FPL Tech, who earlier co-founded digital lending platform Walnut, which was acquired by Capital Float last year.

TIW Private Equity acquires majority stake in Digital Refresh Networks [press release]

Indian buyout firm TIW Private Equity has acquired a majority stake in Mumbai-based digital platform management firm, Digital Refresh Networks.

“The deal size is approx. US$6 million, giving Digital Refresh bandwidth to strengthen its core services and for acquisitions.

Digital Refresh Networks (formerly Digital F5) was founded in 2011 in Mumbai by Ravi Dubey and Barin Mukherjee. It enables delivery of brand objectives on the web, mobile and social media through communication and commerce applications, audio-video elements and customized digital solutions. The company plans to utilise the proceeds from the investment to strengthen its expertise in content creation.

 

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UCommune and TechNode will complement each other by forming an O2O technology ecosystem to connect China and the international community

TechNode, an online technology and entrepreneurship news platform in China, has closed pre-Series B funding round of “tens of millions of RMB”.

Leading co-working operator UCommune and investment firm XCGT Holding Group participated in the round.

With this funding, TechNode aims to increase its global outreach with international technology innovation as its core strategy, as well as accelerate the expansion of its international influence through media, branding, and data-sourcing.

The company also aims to become an innovation platform connecting global companies with Chinese innovation.

Also Read: The raging Amazon forest fires: Why businesses need to step up for climate change

Started in 2007 by Lu Gang, TechNode is an online platform that provided information on China’s tech and startup ecosystems. TechNode’s media is available in four languages: English, Chinese, Spanish, and Russian. Approximately 40 per cent of its millions of monthly readers resides in 160 countries and regions worldwide.

In 2018, TechNode expanded its core offerings to include six business units — TN Media, TN Inno (corporate innovation services), TN Global, TN Events (branding and event services), TN Data (startup ecosystem database), and TN VC (venture capital and financing services). Through these initiatives, it supports and connects the startup ecosystem between China and the rest of the world.

TechNode has worked closely with many key players in various industries, including CITIC Group, Fung Group, BMW China, Merck Group, andUnilever.

Synergy with UCommune

TechNode’s services, including industry consulting, entrepreneurship training, business incubation, and venture capital financing, are consistent with the needs of the UCommune customer base, according to a press release. Through this investment, the strategic cooperation between UCommune and TechNode will be strengthened. TechNode will help enhance UCommune’s dynamic and entrepreneurial innovation environment.

For international collaboration, UCommune and TechNode will complement each other by forming an O2O (online-offline) technology ecosystem to connect China and the international community.

Mao Daqing, Founder and Chairman of UCommune, said: “The strategic partnership between UCommune and TechNode will diversify our space offerings and accelerate the interconnectedness and innovation between domestic and international entrepreneurs.”

“TechNode’s strategy has always been global. Over the years, we have built a great reputation in the global technology industry. This partnership with UCommune will be built upon an online-offline global strategy to benefit the global innovation and tech ecosystem for both parties,” said Lu Gang, Founder and CEO of TechNode.

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Also, Singapore-based Pand.AI launches AI engine TE01, and Singapore-founded doctor network Docquity enters Japan, South Korea

Google announces Android 10’s official release [Press Release]

Google just announced the arrival of Android 10 that it says focus on everyday life-friendly
features powered by on-device machine learning and new technologies like Foldables and 5G.

Android 10 is said to have almost 50 changes related to privacy and security. Some of the highlights are:

Smart Reply that now suggests actions that allows integration with required apps such as maps for text that contains an address or YouTube for messages that have a YouTube video link shared

Single tap Live Caption that automatically caption videos, podcasts, and audio messages across any app, to be available in Pixel first before other Android devices

A new Privacy section under Settings that has all important controls like Web & App Activity and Ad Settings in one place.

Also Read: GOPAY becomes payment option in Google Play in Indonesia, reaching underserved market

New Digital Wellbeing settings, aimed at parents that can use these tools to set digital ground rules like daily screen time limits, device bedtime, time limits on specific apps, and more. They can also review the apps children install on their devices, as well as their usage.

Digital Wellbeing also brings a Focus mode that allows users to select the apps they find distracting—such as email or the news—and silence them until they come out of Focus mode.

Android 10 has begun rolling out to Pixel phones and can be accessed starting today.

Singapore-based NLP chatbots startup Pand.ai launches AI engine TE01 [TechGenyz]

Singapore-grown AI startup Pand.ai Pte. Ltd. announces the official launch of its AI engine, TE01. TE01 has the ability to generate Natural Language Processing (NLP) models that promise to cut error rate for intent classification by up to 25% while also significantly slow down NLP decay.

Pand.ai is deemed as one of the pioneers in the region when it comes to making Transfer-Learning based NLP chatbots commercial. After winning an open tender to build an AI chatbot for Great Eastern Life Singapore (GELS) with the prototype of TE01, there have been models generated using TE01 put into production ever since.

GELS also becomes one of the firsts to use TE01 engine in the form of an integrated AI chatbot GERICA, which can perform inquiries like claim status check and policy details.

The new TE01 engine is built based on Transfer-Learning, a specific NLP method, which was first published by the research community in mid-2018 and is believed to be a more elegant solutions compared to existing NLP methods.

Doctors’ network startup Docquity to expand operations into Japan, South Korea [Nikkei Asian Review]

Docquity, a social network for doctors based in Singapore, announces that it seeks to raise up to US$35M by last year to be able to penetrate North Asian market, including Japan, South Korea, and Taiwan.

Also Read: Medical professionals social network Docquity secures US$11M Series B funding

After closing US$11 million Series B round back in March, Docquity is now valued at US$50 million.

Docquity claims to have a user base of 110,000 registered professionals across Indonesia, Malaysia, Thailand, Singapore, and the Philippines. The company operates a private network, so that doctors can exchange medical notes and patient information more freely.

Next in the pipeline for the company is the launch search engine called “Dx” to analyse conversations and data on its platform to produce insights that are more relevant for its Asia-focused network and partners.

Traveltech platform Traveloka launches insurtech services [Kr-Asia]

Indonesian online travel platform unicorn Traveloka has expanded into digital insurance segment with Traveloka Protect.

In an official statement, the company said that it will offer “convenient insurance products at affordable prices”, which is a result of the partnership with insurance company Astra Life.

Users will be able to choose between six months or one year coverage period of premium and sum insured. Its lowest premium is IDR70.000 (US$ 5) for six-month coverage with the sum insured of IDR25 million (US$1,800).

Before tapping into digital insurance, Traveloka has already introduced a home protection insurance for users away for the holidays. It also launched a Schengen visa insurance aimed at Indonesian pilgrims planning to visit Europe.

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Providing an avenue for people to connect may be the edge that helps your business stand out

Whether it is the ease and convenience of Singapore, the vibrancy of Bangkok or the fun and sun of Manila, Southeast Asia is growing into one of the most important events regions in the world.

To prove this point, Cvent, an events-focused SaaS company, announced their top-25 Asian events destinations and the list is dominated by Southeast Asian cities.

Plus, it did not just include major hubs like Jakarta or Hanoi, it also included smaller places like Phuket (Thailand), Bali (Indonesia) and Pasay City (the Philippines).

Also Read: If you’re going to attend one event next month, let it be Echelon Roadshow 2019 Kuala Lumpur

Southeast Asia is one of the world’s fasting growing economic regions, so the events industry is certain to ride positive macroeconomic trends. While trade wars have created some headwinds, Focus-Economics predicts external economics will only provide a slight drag on growth.

This means that an already dynamic events industry should continue to see robust growth in the coming decade.

Global companies are also taking note, highlighted by Eventbrite’s launch in Singapore on February 2019.

The company justified the move by pointing to a “rich and growing events industry”, a “passionate community of events creators” and a consumer base that enjoys the diversity of events.

The region has a variety of service providers; making it easy to find traditional companies or startups that can help with vendor procurement, operations management and even filling a dope swag bag.

Plus — and this is important! — Southeast Asia boasts fantastic food that is sure to make guests salivate. An event is nothing without good food, and Southeast Asia is one of the best food regions in the world.

Why invest in events?

 Events are not simply a morale booster or a complicated networking activity, there is a lot of evidence that suggests they can make a direct, and positive, impact on a business.

According to Bizzabo, a software company, 41 per cent of respondents said offline events are the most important driver of business and 85 per cent said it is essential to their marketing strategy.

Furthermore, the study suggests the most lucrative strategy is to host events — rather than either attending or sponsoring. Yes, hosting an event takes more time and money, but the return is often much more valuable.

95 per cent of people from the Bizzabo survey said its a crucial opportunity to make deeper connections with their customers and 80 per cent of high-performing respondents plan to increase their events budget.

Somewhat ironically, it may be the increasingly digitalised nature of our work that makes events more attractive.

As people spend more and more time on their computers, they increasingly seek avenues for personal and professional connections. This means spending time attending conferences, corporate parties and educational seminars.

If someone is going out of their way to attend, for example, a coding event hosted by a local tech company, it is almost guaranteed they will spend a fairly significant amount of time researching the host company.

Also Read: This events startup takes team building up a notch with adventurous and thrilling activities

Assuming the event is a success, that business may suddenly find itself with a few more loyal customers and it will certainly keep old customers coming back.

These means Asia is a fantastic region for events

 Another important characteristic of doing business in Asia is that people place a lot of value on human-to-human interaction.

Often, a typical Asian consumer might choose a company because they know the team or had the opportunity to chat with the CEO.

Furthermore, if we also include the fact that small business has always been the backbone of Southeast Asian economics — and startups are making their name in the region — event management firms are becoming an absolutely essential part of running a company in the region.

No matter the motivation, event management is an incredibly important service operating in a high growth industry.

It doesn’t get much better than that, does it?

Don’t get left behind, make sure your business is, at the very least, making sure to invest time and energy investigating Asia’s event management industry.

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