Malaysia-based startup Rush’s premise is simple. Whenever you’re in need of smartphone energy to ensure connectivity, go to the nearest store to rent a power bank. Scan code on any Rush kiosk, grab the power bank, and once you’re done using it, drop it back to the nearest kiosk you can find.

Rush believes that our day-to-day life is not something that can be done without a properly working smartphone. “As the world evolved, smartphones have become part of an important device in our daily life. All our work, communication, social, transportation, wallet, food, and more are solved by using a smartphone. It’s made life more efficient and convenient,” says Dylan Wong, co-founder of Rush.

Malaysia has 26 million internet users, and the country is currently the top four country in the world who spent an average of 4.02 hours a day on smartphones in 2019. This kind of lifestyle provides plenty of opportunities for startups such as Rush.

Why powerbank

“Running out of battery on our phones happens at least two times for us in a day. Like anyone else we have also tried different methods, including buying extra phone charging cables, powerbanks, and even carrying phone chargers wherever we go. Then we notice the problem didn’t really go away, because you would need to either remember to bring these extra items on top of what you need everyday. And as an additional tool, there could be times when you don’t remember to charge them! We also noticed that these problems happened to most people around us,” explains Wong.

To validate this issue further, Rush’s team conducted a survey in Klang Valley, about their phone usage and charging habits. The results showed that 56 per cent of the people surveyed are experiencing the same mentioned issues on an everyday basis.

Also Read: Indonesian Wi-Fi rental startup Passpod to raise US$2.6M via IPO

“Some funny but common scenarios include, asking around for cables, or trying to look for a power plug socket to charge their phone. It all happened as a part of the daily lives of people with smartphones,” Wong comments.

In the dawn of 5G

In the sense of welcoming the highly anticipated 5G, Rush aims to be ahead of innovation.

“New phone technology is almost everywhere today, and with 5G coming soon, and the battery consumption of a 5G phone is 2.5 times more compared to 4G phones. Phone innovations continuously evolve, but battery technology remains stagnant for the next few years with battery capacity expansion not significantly ‘catching up’ to cater to the actual needs and increasing usage of these new phone features,” says Wong.

So according to Rush, the immediate solution is to have a power bank ready to rent anywhere at any time.

Challenges in familiarisation

As power bank sharing is a relatively new product and business in the Malaysian market, there are challenges to face in promoting the use of the service.

“The biggest challenge would be helping our users to understand and change their phone or mobile devices charging habit that has been with them for a long time,” Wong points out.

Furthermore, based on the results of the survey the company has conducted in the Klang Valley area, 83 per cent of the respondents have also expressed that they are receptive to power bank rental or sharing service, something that boosted the confidence of Rush that there are untapped markets for ready-to-rent power bank.

“Our approach is direct to users, promoting our products through events, and on-ground roadshows. Besides that, we also work closely and extensively with all our partners, who are from different industries: F&B, entertainment, hotels, and services,” says Wong.

Wong mentions that they have partnered with established names such as Tealive and Holiday Inn Express.

Also Read: HostelHunting rebrands into LiveIn.com; to expand into Indonesia, Philippines

“We strive to create an ecosystem by understanding both our partners and our users’ needs and wants, hence our approach mainly aims to help our partners’ business drive awareness, footfall and consequently sales, while at the same time having Rush users enjoying the convenience of our power bank sharing service and the various features that benefit their everyday lifestyle,” Wong adds.

Behind Rush

Currently, Rush is operating in a team of 15 people. It was established by co-founders Dylan Wong, who is also the CEO, and Ng Yong Ching as the COO, who is also Wong’s long time friends.

Both Wong and Ng were part of the pioneer team of Grab and e-scooter oBike and shared a few years working together in several startups before co-founding Rush.

What to expect after pandemic

COVID-19 pandemic undoubtedly has thrown a curveball for most businesses and startups in particular, and Wong says that the company’s not immune to it.

Like other startups trying to survive, Rush also did some adjustments to the situation by trying to cater to their customers and partners better.

“We’ve worked with partners or kiosks to help them to promote their business by providing and selling exclusive e-voucher to our users which we subsidise as well. Our focus is to help merchants to gain some cash flow and conserve more cash. It also can attract users to visit the retails,” Wong elaborates.

As for the post-pandemic era, Wong adds that sanitisation is their main priority to provide comfort and convenience. “We will sanitise all the power bank and our partner/merchant will help us to sanitise after users use it.”

Focussing on user experience

User experience is at the core of Rush’s product developments, as Wong emphasised.

“We constantly review our app functions and features and rolls out new features that enhances the Rush user experience. Just this month, we have launched a new reward and advertising features in our app, which Rush users can now enjoy to get their hands on exclusive deals and rewards from our partners. These rewards wrap around our users’ everyday activity and lifestyle, and most are redeemable as long as you have a Rush account.”

To ensure service availability, as well as enhance user convenience, in the coming months, Rush will be launching its loyalty programme that aims to benefit both partners as well as users.

Also Read: Fashion rental startup Style Theory secures US$15M funding led by SoftBank Ventures Asia, eyeing expansion

Power bank sharing and rental service still being considered as a novelty. Not only in Malaysia, but also in other Southeast Asian countries.

“Compared to other regions like China that are more matured with this service, Chinese people are now very familiar with the power bank rental service as the solution to everyday device charging and/or battery issues. They find it convenient as it has become a necessary service to be provided by most businesses,” Wong draws an example.

With the country’s effort in building and improving our public infrastructure and transportation, mobile devices and internet usage will only increase significantly for the next few years.

“The potential is definitely there, if we look at the trend and how prepared the country is,” Wong concludes.

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Image Credit: Rush

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Ackcio, a Singapore-based provider of wireless solutions for industrial monitoring, announced today the completion of its pre-Series A capital, co-lead by Wavemaker Partners, and Michael Gryseels, President of True Digital Group.

Existing and new investors, including SEEDS Capital, AccelerAsia Ventures, Aletra Capital Partners, Foundamental, and Entrepreneur First, participated in this round.

The size of the round was not disclosed.

Ackcio was founded in 2016. Its technology helps contractors monitor their projects to manage risks and increase safety. This, in turn, helps the construction and mining industries reduce costs, improve worker safety and also comply with regulatory requirements on geotechnical monitoring that govern construction and mining operations in many countries.

The startup has recently opened a sales office in Canada to penetrate the North and South American markets. It currently serves clients globally with a presence in over 15 countries in Southeast Asia, China, Oceania, Europe, and North America.

Also Read: Your smartphone battery runs out at least twice a day. This Malaysian startup has a solution for that

“The additional funds will help us expand our presence in our existing markets and also expand to new markets in the coming months,” said Co-founder and CEO Dr. Nimantha Baranasuriya.

In Singapore, Ackcio’s solutions have been used for monitoring geotechnical sensors in major infrastructure development projects, such as the Thomson–East Coast MRT line, Bedok Canal expansion, and Paya Lebar Quarter.

The company was recently awarded a large contract to supply its equipment to a new infrastructure development project at the Changi Airport.

Along with this new funding round, Arnoud Balhuizen recently joined Ackcio’s advisory board.

Foundamental is a global investor in construction, mining and renovation technology with offices in San Francisco, Berlin and Singapore.

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SEEDS Capital, the investment arm of Enterprise Singapore, along with other six co-investment partners, has unveiled its plans to invest US$36 million into maritime tech startups, Sea Trade Maritime has reported.

The partners are Schultz Group’s capital arm Innoport, Kuok Singapore’s venture capital unit KSL Maritime Ventures, PSA unboXed, Rainmaking, ShipsFocus-Quest Ventures, and TecPier.

The initiative seeks to invest in early-stage ventures to develop sustainable solutions that improve operational efficiency and safety across the different segments of the maritime sector.

Ted Tan, Chairman of SEEDS Capital and Deputy CEO of Enterprise Singapore, said: “The COVID-19 pandemic has underscored the need to accelerate the transformation of our industries. As a global hub for trade and connectivity, we have continually leveraged technology and innovation to develop and facilitate efficient, resilient, and secure trade flows.”

Startups will also receive hands-on assistance in fast-tracking commercialisation, with mentorship and connection to potential clients through their networks.

Also Read: These are the top three startups chosen by PIER71, offering latest maritime tech solution

The initiative is also supported by ESG and the Maritime and Port Authority of Singapore (MPA), with the aim to drive the growth of the maritime sector through technology and innovation.

In total, there are more than 50 promising Singaporean startups that can benefit from the joint investments.

According to Tan Beng Tee, MPA’s Assistant Chief Executive (Development), maritime technology startups play an even more important role in accelerating digitalisation and innovation efforts to prepare the maritime industry for a new normal post-COVID-19.

The maritime tech sector in Singapore has seen a rise since last year, when PIER71 (Port Innovation Ecosystem Reimagined @ BLOCK71), a collaboration between the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, launched a PIER71 Accelerate – a five-week market and business model validation programme joined by 24 startups in November. PIER71 has a mission to build a maritime entrepreneurial and innovation ecosystem in Singapore.

A year ago, Techstars had started dedicated global maritime accelerator called the Eastern Pacific Accelerator powered by Techstars, with Singapore’s largest shipping company Eastern Pacific Shipping (EPS).

The programme saw the first class of nine startups, selected from hundreds of worldwide applicants, selected with consideration and input from EPS’s Operations, Marine Technical, Commercial, IT, Fleet Personnel, and Management teams.

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Photo by Billeasy on Unsplash

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SINO Hua-An’s F&B biz Craveat International to go tech

Malaysia-based investment holding company Sino Hua-An International has announced its plan to invest RM30 million (US$7 million) to transform its subsidiary, Craveat International, into a technology company for the F&B industry.

This is a kickoff for Techna-X, the technology division, to grow the group’s revenue stream as a digital enabler to lead digital transformation of the old economy in the Asia Pacific region.

“In line with Hua-An’s direction of focusing on the digital transformation space, we want Craveat, our F&B subsidiary to be known as a technology company that serves excellent food and drinks. Drawing on the Techna-X infrastructure, today signifies the day of the transformation of the F&B operations and mindset,” said Jared Lim, Executive Director of Hua An.

Also Read: Ackcio raises pre-Series A co-led by Wavemaker for expansion of its wireless monitoring solutions

Homegrown F&B brand, Teh Tarik Place (TTP), will lead in the transformation which targets to open 100 outlets in 36 months throughout Malaysia and in the Asia Pacific region.

The Techna-X platform will provide advantage to TTP via its POS system, business intelligence platform and data engine as well as TTP’s Halal-certified central kitchen in order to better plan and manage operation processes with the aim to deliver a superior customer and business experience to its customers.

TTP also uses data analytics in traffic flow to allow TTP’s management to make more informed decisions in the selection of locations for outlet expansion.

Snap to open office in Singapore as part of SEA expansion

Snap is expanding its operations into Singapore, with Anubhav Nayyar tapped to lead Snap’s market development efforts across the Southeast Asia region.

According to a BrandingAsia report, Snap plans to open an office in Singapore later this year.

“The company is monitoring the global COVID-19 pandemic, and following local guidance by encouraging remote working. Once the situation eases, the company will accelerate plans to establish a local presence,” said Nayyar.

Prior to joining Snap, Anubhav spent seven years at Viber where he was the Senior Director & Head of Asia Pacific. Anubhav was Viber’s first regional employee, and was responsible for establishing it in multiple countries in Asia as well as setting up operations across the region.

GrabPay expands its merchant base in Malaysia

Grab today announced the expansion of GrabPay’s merchant-partners to include household brands from all essential categories, such as groceries, pharmacies, food, electronics and hardware across the nation.

The list of brands includes a variety of chained outlets such as MyNews, Tesco, Guardian, Watsons, KFC, McDonald’s, Mr.D.I.Y and SenHeng.

“The expansion of GrabPay’s merchant base is part of Grab’s on-going commitment to create awareness about the benefits of digital payments and nurturing the cashless adoption in Malaysia. The expansion of GrabPay’s partner base is also timely with the government’s recent PENJANA announcement to encourage Malaysians to spend as a means to help revive the economy post the impact of the pandemic and movement control period,” said Priyanka Madan, Head of GrabPay Malaysia.

Inflection Point Ventures invests in Indian foodtech startup Samosa Party

Indian angels investment platform Inflection Point Ventures (IPV) has invested an undisclosed amount in snacking startup Samosa Party.

IPV has been investing in startups in sectors like health-tech, edutech, delivery, online grocery and social distancing tech to help companies working in these areas scale up and eventually create a large-scale impact for helping people in managing the COVID situation.

Also Read: Do you have a burgeoning startup trying to attract investor capital?

Ankur Mittal, Co-founder, IPV, said: “Samosa Party has grown tremendously over the past couple of years and has risen to amongst the top brands for Indian snack food in Bangalore. In a post-COVID world of increasing focus on hygiene standards, startups like Samosa Party will be relevant as customers would trust hygienic and professional managed brands to serve them food with safety being the guiding force from kitchen to table.”

Samosa Party was launched with a mission to make good quality samosa accessible to customers across all channels in a hygienic and trustworthy environment. It operates by solving the supply side problem with the production and consumption of samosa at scale using technology.

The startup has scaled to serve 150,000 samosas per month. It combines the traditional cooking processes to solve the problems of scale using food technology and production innovation at every stage.

Samosa Party intends to utilise these funds to set up the infrastructure for scale, open cloud kitchens across Bangalore and other tier 1 cities.

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Botsync, a Singapore-based robotics startup that builds heavy-duty autonomous mobile robot solutions, has secured a seed round of funding, jointly led by Wong Fong Industries, SEEDS Capital, Angelhub, and Artesian Venture Partners.

The company will use the capital  — the amount was not disclosed — to accelerate product development, build new technology teams and scale up production.

“This funding support empowers us to scale up the commercialisation of our robotics solution and enhance the features of our automated vehicles for safer and more reliable use,” said Rahul Nambiar, CEO and Co-founder of Botsync.

Botsync was founded in 2017 by graduates from Singapore’s Nanyang Technological University (NTU) — Nikhil Venkatesh, Prashant Trivedi, Singaram Venkatachalam and Rahul Nambiar.

The startup enables companies to simplify automation of their material movement processes with an intelligent fleet of autonomous mobile robots that can transport payloads between 500 and 1,000 kg.

The robots are designed to be modular and can be deployed without any dependence on infrastructure-based sensors like QR codes. This allows companies to automate daily material handling processes without stopping their existing operations, claim the founders.

The robots can be configured and commissioned in minimal time, in some cases less than a week, the firm boasts.

Also Read: Your smartphone battery runs out at least twice a day. This Malaysian startup has a solution for that

Powered by deep learning engines, Botsync’s in-house built autonomous mobile robots traverse the local area to create maps of their operating environment. Using this data, they intelligently execute autonomous manoeuvres while avoiding other people and equipment.

To date, Botsync has completed sales contracts across Singapore and India and is currently working with a global energy management solutions company and an international transport and logistics company on pilot projects.

In 2020, the company expects to complete two to three commercial deployments of their MAG robots, increase sales of their industrial training products, and expand its market reach in Southeast Asia and India.

Botsync was incubated at the EcoLabs Centre of Innovation for Energy (EcoLabs), Nanyang Technological University, Singapore (NTU Singapore), where its product commercialisation was accelerated and its funding rounds supported by the EcoLabs co-investor network.

Botsync’s early investors also include Brinc and Nanyang Technological University’s Ecolabs Center of Innovation.

SEEDS Capital is the investment arm of Enterprise Singapore, Wong Fong is a SGX-listed group specialising in several businesses, including customised engineering solutions, industrial and hospitality training, education and talent management and placements.

Angelhub is a startup investor based in Hong Kong, and Artesian is an alternative investment firm in the Asia-Pacific region with over 400 startups in its portfolio.

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Image Credit: Botsync

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With social distancing as the prime method adopted to combat the COVID-19 pandemic and the subsequent lockdown measures undertaken by governments globally, we have seen an almost total immediate reliance on digital sales as a result of mandated closure of brick-and-mortar stores.

As a result of the crisis, digitalisation is rapidly growing and solidifying their presence both in the way we interact and make purchases (e.g. digital business conferencing, home-based online learning, online food order and delivery as well as virtual social interactions amongst friends).

Many consumers have turned to digital channels and apps to shop given safety precautions, creating significant business growth for companies who enable business-to-consumer (B2C) online retail shopping.

According to the “COVID-19 Impact on Global E-Commerce & Online Payments – 2020” report from ResearchandMarkets.com, many have turned to online and mobile shopping due to COVID-19, resulting in a double-digit share of online shoppers with more digital purchases. Some are even embracing this mode of shopping for the first time during the outbreak.

Also Read: A beginner’s guide to the B2B e-commerce business

Hence, if we were to observe the current B2C landscape, the same report highlighted that the share of global retail sales generated via e-commerce is rising and is projected to reach one-third by 2024. This crisis has forced many who are less digitally oriented to accept new digital possibilities, facilitating greater growth in the B2C sector.

However, such online shopping is not new to B2C businesses, many of whom have already established digital channels as part of their business strategies prior to the pandemic.

However, are we seeing the same kind of momentum from business-to-business (B2B) companies adopting digital transformation in the way businesses are conducted as a result of this crisis?

Is COVID-19 increasing B2B digital adoption?

B2B and B2C e-commerce are completely different business propositions. B2B transactions are more complex and of higher price value than those dealing in the B2C space, thus demanding a more complex set of capabilities such as product configurators and real-time inventory information, request for quotation, and procurement approval flow.

However, COVID-19 has raised the imperious need for digital channels for B2B companies. According to a recent survey by McKinsey, sales leaders on average rate digital channels approximately twice as important now as they were prior to the pandemic.

The necessity of remote selling as a result of quarantine was also responded incredibly quickly by B2B sellers, where around 90 per cent of them are working via videoconferencing or phone. In technology, media and telecommunications sectors, that figure is near 100 per cent. Consequently, many B2B customers have to quickly understand and adopt online purchasing as well. This has made COVID-19 a catalyst for significant growth in the B2B e-commerce landscape.

Also Read: Roundup: E-commerce enabler iPrice Group names new CEO

Frost & Sullivan predicted prior to the pandemic that the global B2B e-commerce sales were to reach over US$6.6 trillion by this year, surpassing B2C valued at US$3.2 trillion by 2020. However, with digital sales potentially being the only available option in the interim, this growth trajectory can be hastened further with B2B companies needing to digitally transform their current sales channels and processes.

As such, B2B companies that invested in digitalisation and e-commerce prior to the crisis would have the upper hand. In contrast, those who had decided to wait and previously invested little in e-commerce will have to play catch-up – presuming that they are able to tide through the pandemic.

A shift towards digital B2B payments

Another thrust in the B2B eCommerce arena in which COVID-19 is also having a big influence in accelerating is the growth in the adoption of B2B payment processes. It’s a matter of time before we will see the end of manual check printing and physical mailing and companies begin to be more comfortable in digital B2B payments.

The B2B payments market in the APAC region has been booming even before the COVID-19 pandemic, driven by the growing adoption of eCommerce and financial technology solutions, according to Frost & Sullivan. B2B payments revenue is estimated to double, reaching US$1,356.28 billion by 2025. This is up from US$671.32 billion in 2018 and represents a compound annual growth rate (CAGR) of 10.5 per cent.

This growth can only get more pronounced with greater travel restrictions between countries. As a result, most businesses would be conducted digitally and hence the flow of funds for goods purchase will also happen digitally.

Also Read: Roundup: Singapore’s e-commerce market expected to reach US$9.5B this year

This may, in fact, drive greater innovation in the area of B2B payments beyond just escrow into other areas such as eKYC (know-your-customers), e-contracts enforcement, and potentially the use of blockchain to authenticate and verify documents as well as in the area of trade finance.

B2C’s influence on B2B

There are, however, significant characteristics of B2C e-commerce that the B2B space can greatly learn from. The user experience that B2C e-commerce consumers currently enjoy could potentially lead to similar expectations for B2B e-commerce experience, with a key difference being bulk purchases as opposed to individual item purchases.

Given that the B2C shopping experience has been in existence for more than two decades, this would hence set the benchmark for the digital user experience and transactions under B2B e-commerce. Buyers want to be able to search quickly and place orders without hassle, coupled with very detailed product information, quick order processing and delivery, and an enjoyable customer journey.

In other words, self-service is increasingly becoming a requirement for many buyers who prefer independence over spending time clarifying with a staff member.

These are pointers that B2B companies should be taking into consideration amidst growing their business digitally. There will however be some B2B-specific nuances to the user flows which would have to include features such as digital purchase order creation, purchase approval processes, and integration into third-party inventory and logistic systems to necessitate bulk orders and special wholesale pricing.

Also Read: Are B2B marketplaces finally entering their boom time in Asia?

Turning this pandemic into your advantage

There is no short-term panacea to bringing your B2B business online. As previously mentioned, B2B e-commerce is much more complex and requires B2B companies to relook at their business strategies once again and adapt them to the digital arena.

We’ve added a list of tips to help take advantage of the digital push for B2B e-commerce businesses:

• Go back to the drawing board and formulate a clear online business strategy

Similar to B2C, a customer journey should be focused consistently on customer benefit. B2B-specific details have to be considered, such as extensive purchasing and approval processes and real-time inventory information. Thus, being strategic and thoughtful in the brainstorming process would help B2B businesses be better prepared and adaptable to similar situations in the future.

• Be transparent

Whether it is for your online product information, order fulfilment or availability of stocks, be realistic, and translate that information to your customers regularly. During any crisis, everyone has more questions than answers. As such, transparency and support are necessary to reassure and strengthen your customer relations.

• Don’t wait anymore

If anyone thinks they can wait on their eCommerce plans, the coronavirus pandemic would have clearly signaled that there is no time to waste, particularly given that digital sales are the only viable option at this juncture. Even so, be strategic in how you roll out your online channels.

COVID-19 is surely going to create a new norm for all of us, in every aspect of our lives. In the case of B2B companies, the momentum that eCommerce is accelerating at as a result of the pandemic could potentially become a permanent fixture post-crisis as well.

Quoting McKinsey once again, we believe that we are at a digital inflexion point, where B2B sales operations going forward will look fundamentally different from what they were before the pandemic. The level of change would, however, depend on how B2B businesses strategise and effectively ride on this new digital wave.

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Register for our next webinar: Is your startup ready for the new normal?

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In a recent webinar with e27, Jeff Lin, Principal at iGlobe Partners, spoke about the VC firm’s investment philosophy and the challenges faced by the industry due to the COVID-19 pandemic. He also shared some tips to help entrepreneurs/startups tide over the crisis.

In a follow-up interview, Lin also shared some insights on things to consider to become successful in local markets.

Founded more than 20 years ago by Soo Boon, iGlobe is run by a team of tech and financial veterans with cross-border regional experience. The VC firm invests in a number of regions, including Silicon Valley, Southeast Asia and Japan.

Some of its portfolio companies include Unity, Nerdwallet, ACSL, Hoolah and SWAT. The VC firm is currently focused on investing in three high-growth industry clusters — smart cities, fintech, and synthetic biology.

Entering unknown territories

According to Lin, for a cross-border VC firm, it is necessary to work closely with local VC firms in each country market. iGlobe’s strategy is to syndicate deals with strong local business assets to gain deeper insights on the complexities of each
region.

Over the years, iGlobe has been helping Singapore start-up companies scale out to other markets in the region, and has also been helping a lot of western portfolio companies scale-out to Southeast Asia, with Unity being one such example.

But what are some aspects that are crucial for the success of a startup that wants to enter a new region, say, Southeast Asia?

“As a company, it is important for founders to have a regional or global ambition. For example, a Singapore based startup from inception shall think about eventually setting up a regional presence in countries such as Vietnam or Indonesia,” according to Lin.

Also Read: What are the key trends in mobile gaming ads in Southeast Asia?

“First of all, startups need to be solving a problem not just for a single country; exceptions can be made for large enough single market such as Indonesia,” Lin added.

Lin suggests that western startups which intend to expand to Southeast Asia must first establish themselves in their own markets first. Entering a new market prematurely may lead to unnecessary hardships.

Matterport, another portfolio company of iGlobe, is a leading spatial data company focusing on digitizing and indexing the built world. Founded in silicon valley in 2011, Matterport only recently set up its regional headquarters in Singapore last year when it became a well-recognised brand globally.

“For those startups outside of our region, it may not be ideal to come to Southeast Asia too early without building a strong customer base and certain revenue traction first. For those portfolio companies which are already well established in their home markets, iGlobe can assist them in their global expansion by identifying the right local talents and setting up operations, making the process much easier,” he shared.

A good understanding of the market is a necessity, he argues. Someone in the management team, who has a good exposure with the local market dynamics, will be helpful. If that’s not possible, the founder should be good at hiring
someone who knows the ins and outs of the specific country.

Surviving the new normal

As startups move from the first phase of the pandemic to the reopening phase, VCs will have to decide what tech investments are worth funding and what will provide them with the most value in the new normal.

Asked what advice would he give to his portfolio companies and founders in general to survive the pandemic, Lin said under the new normal, founders will figure out how to let teams perform and collaborate without sitting in the same office.

Also Read: As a startup investor, here is why we aim to focus more on Vietnam in 2021

“Most of your team members including yourself will need to continue to work remotely in the next half of the year or even longer. You have to continue to engage your employees to keep their morale high and make sure everyone continues to work towards a common goal,” he explained.

Citing the example of one of iGlobe’s portfolio companies, Lin said that the founder spends extra efforts to maintain team spirit through virtual team building activities like quizzes, coffee morning sessions, etc. As soon as the management figured out that the whole organisation can operate without an office, this firm terminated the lease contract with its co-working office to cut loss and conserve cash.

Another advice that he is giving to the founders is to quickly raise funding from different sources to extend the runway, especially from the government’s funding schemes.

“Valuation doesn’t matter that much as survival is the top priority. Keep the runway, retain your employees and you still have a chance for tomorrow,” he concluded.

Missed the webinar? Check out the video here:

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Image Credit: e27

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Amid COVID-19 chaos, consumers want certainty and offerings to suit life in lockdown, and direct to consumer (DTC) brands are among the best placed to meet that demand.

Discussion about current DTC growth has largely revolved around online agility. As internet-born brands, many DTC businesses have thrived by focusing on e-commerce and limiting offline costs; a key advantage when the majority of physical stores are shut. But this overlooks the real power of DTC: close consumer relationships.

With complete control over their data ecosystem, DTC brands have the valuable insight required to power personalisation and predict their customers’ shopping needs to optimise every touchpoint.

When this insight is paired with unobtrusive, subtle native advertising methods, DTC brands have the ability to enhance their performance and build stronger relationships with their consumers. And, with 43 per cent of consumers finding it reassuring to hear from brands they know and trust, consumer relationships matter now more than ever.

Telling truly captivating stories

What makes DTC brands stand out most is their authenticity. These companies have distinct personalities and values that speak to consumers seeking more individuality and meaningful brand relationships.

Regional DTC pioneers such as SleepyCat, for example, are actively collaborating with buyers; founder Kabir Siddiq spoke personally to 5000 customers and adjusted the firm’s development in line with their feedback.

Also Read: Zowedo raises US$330K to connect Singapore’s consumers with personal, home services

As a form of advertising that’s all about storytelling, native is the ideal way to boost interest via inspiration. Using soft communications, brands can deliver engaging digital content that communicates their vision, such as a story about the mission to provide sustainable homeware displayed under an article about staying ethical during the lockdown.

With an emphasis on genuine relevance and value, native allows brands to enhance the online experience while driving deeper individual affinity with their products and services.

Giving brand messages a suitable home

The global crisis has catapulted brand safety back to priority status. With the influx of coronavirus-related content, organisations are paying closer attention to where ads are seen — especially DTC brands heavily reliant on good customer opinion to sustain their businesses.

So, it follows that native ads, which are designed to seamlessly blend with suitable content, are the obvious choice for keeping associations positive.

Of course, this does depend on ensuring media quality. Not all native platforms are equal, and brands must be careful to select those that continuously vet publisher networks and offer robust security. For instance, advanced vendors are starting to leverage smart tools such as natural language processing to carry out granular semantic analysis against bespoke risk thresholds.

Negating the need for ad blockers

Staying visible is vital for brands to remain front of mind throughout the crisis, but there is a difference between being in view and interruptive. Audiences are losing patience with ads that disrupt their online experience and tolerance is lower in the Asia Pacific region than anywhere else: studies show 52 per cent of users run ad blockers.

Also Read: Singapore lending platform Lendela raises US$942K to help consumers access loans easily

Tempting as it may be to seize attention with screen-dominating ads, the wisest move for DTC brands is using formats that work with digital content. By harnessing ads built for minimal intrusions — such as scrollable native ads that appear within social feeds or bespoke ‘next read’ recommendations — brands can serve captivating messages that avoid irritation by keeping interaction control in the hands of consumers.

As the world moves online, there is scope for digitally savvy DTC brands to significantly bolster their reach. But before they ramp up advertising efforts, it’s crucial to consider the factors that set them apart from mainstream rivals: authenticity and dedication to consumers.

To maximise success, promotional strategies must create the perfect partnership of enticing DTC stories and content that natively weaves into the digital mediascape. In the long-term, it will be this commitment to giving consumers what they actually want that will be remembered long after the COVID-19 storm passes.

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COVID-19 has brought new insights into the long-term sustainability of our smart cities and frenzy urban lifestyle. While countries around the world are investing in boosting their healthcare sector and keeping their essential system running, the ongoing pandemic has got the majority questioning the new normal.

On top of being a key challenge to global health governance, the virus has proven to be a litmus test on preparedness and infrastructure. 

The promise of better opportunities,  accessibility, and improved quality of life attracts people to cities. The Department of Economic and Social Affairs reports that by 2050 more than two-thirds of the global population is expected to live in urban areas.

Covering a mere two percent of the world’s land, the high population density in cities complicates the management of outbreaks, especially a highly transmittable one like COVID-19.

Moreover, the shortcomings of the modern economy have created real tension between addressing the immediate needs that come with the crisis and investing in more sustainable infrastructure. 

Crisis-led solutions for a sustainable future

The past few months have proven that crisis-led technological solutions can bring about a better future. Technology leaders and smart cities stand in a unique place to ensure sustainable living and development. This is especially true in the case of a pandemic which requires thorough monitoring and immediate response.

Countries such as China have been effectively tapping into artificial intelligence (AI) technology and big data to aid front-line healthcare workers, facilitate real-time contact tracing, and screen potential cases.

Adaptation of digital technologies that promote teleworking, web-based community building, virtual services, and even 3D printings of healthcare essentials proves that smart city mechanisms are not only capable of learning from a crisis but also learning in a crisis.

Potential of blockchain in post-pandemic sustainability development

Blockchain technology has revolutionised the way data is transmitted and protected. Its adoption in cities throughout the world has led to advancements in urban management systems thanks to its interconnected and immutable nature.

Industries such as healthcare, pharmaceuticals, food, and agriculture have been able to upscale its supply chain management while allowing authorities to monitor and allocate resources effectively. 

Blockchain technology has not just been a hot-button topic in sustainable urban design but a promising solution world leaders are investing in for a better future. The United Nations Office of Communication and Information Technology (UN-OICT) has been developing a cutting-edge blockchain-backed solution to support the Government of Afghanistan in its rebuilding efforts.

As a part of the “City for All” initiative, the UN-OICT has turned to blockchain technology to solve infrastructural challenges in the nation and to bring about an effective land management system, strategic urban infrastructure and improved municipal finance.

By providing real-time information on basic necessities, blockchain technology is transforming public service, which includes automating energy supplies, managing water consumption, monitoring air quality levels.

This provides the authorities with greater control over resources, improves demand-supply efficiency as well as address fundamental problems in their urban planning while ensuring data integrity.

Addressing the broader sustainability agenda

Looking into the next phase of recovery, it is important to factor in environmental sustainability when putting together a post-pandemic package.

The economic slowdown during the quarantine period has resulted in a significant drop in urban pollution, providing the need to reassess the impact of human activity on the planet.

Longer-term measures to minimise carbon emission and curb energy consumption as well as the inclusion of a smarter disposal system can ensure a healthier urban environment.

According to the Ericsson Mobility Report, ICT-enabled solutions can curb the global greenhouse gas emission by 15 per cent by 2030 if implemented effectively. With comprehensive computation and effective smart-grids, it will be easier to determine pollution hotspots, take proactive measures to identify sources and keep an immutable record on the progress for future planning.

For instance, smart meters implemented by Building Cities Beyond (BCB) Blockchain in Yatai City, Myanmar has not only refined energy management but also regulated energy consumption behaviour, improving the overall energy efficiency in the city. With the smart meters, hotels in Yatai City are able to identify users who are environmentally savvy and provide rebate discounts as a token of encouragement. 

On top of that, cloud-based software applications can effectively receive, analyse, and transform data into real-time intelligence that changes daily lifestyle and curb energy consumption. Tech giants such as Apple, Google and Amazon are all releasing a range of gadgets that changes the way homes manage their power usage.

On the other hand, waste is a key developmental and environmental issue for all countries across the globe as it is almost an unavoidable result of human activities. Waste in cities affects air and water quality, breeds hazardous health issues, and affects the public space.

An intelligent disposal system has the power to redefine waste management in urban areas. With the help of sensors and decentralized blockchain networks, local authorities can achieve a sustainable waste management system by generating an interoperable tracking facility.

The increased visibility of an open network will result in heightened accountability among consumers, companies, and waste management industries. 

As we recuperate from the ongoing pandemic, it is important to define what tomorrow will look like and take stock of our preparedness to face future global crises.  Being built on complex and interconnected frameworks, smart cities are well-positioned to be the agents of change and reshape global culture.

Having said that, sustainability requires a collaborative effort — and the responsibility to preserve a better future remains squarely on the collective shoulders of humanity. Even with advancements in technology and resource management, the looming reality of a rapidly increasing urban population means that innovators, policymakers, and the everyday man must adopt a different mindset and approach to daily life to ensure sustainable living.

All journeys start with the first step, no matter how small. Let us do our part together.

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Lazada appoints its 3rd CEO in 3 years; New CEO Chun Li, its co-president and head of its Indonesia ops, is replacing incumbent Pierre Poignant; The e-commerce major claims to have 70M+ users as of end-March; Alibaba owns 90% of Lazada after investing US$3B since 2016; E-commerce in SEA was worth US$38B last year. More here

9 cybersecurity startups graduate from ICE Accelerate’s 4th batch; Since inception in 2018, ICE has facilitated a total of US$13M investments for 16 of its startups; The firm’s founding partners are Singtel Innov8, NUS Enterprise. More here

Grab contributed US$5.45B to Indonesian economy in 2019, says research; GrabFood is the biggest contributor; This figure marks a 58.3% increase over the 2018 numbers; As Indonesia starts to move past COVID-19, platforms like Grab and the gig economy can support the country on its road to recovery. More here

Malaysia’s Petronas Ventures invests in Braintree; The agritech startup develops robotic devices that would be able to provide agri solutions and converts unattended land into high-value crop farms; The investment is aimed at scouting for breakthrough technologies that could support Petronas’s growth beyond the oil and gas biz. More here

Indonesian movie rating app Cinepoint raises funding from Ideosource; Cinepoint’s system allows for ratings gathered through an exit polling post-movie-launch, verified real-time; Ideosource earlier invested in gojek’s on-demand video platform GoPlay. More here

The one statement that will kill a startup; ‘It is not my problem’ is a symptom of a toxic attitude that pushes a narrative of self-preservation above everything else; Not everyone is suited for a startup culture, because it is a fluid structure; In startups, a single employee can wear different hats (customer service, ops, social media and marketing etc.) at the same time. More here

6 of the world’s top 11 startup ecosystems are now in APAC: Startup Genome Report 2020; 30% of world’s top startup ecosystems are now in SEA compared to 20% in 2012; Due to COVID-19, startups were hit hard by ‘capital shock’ and ‘lack of demand’; The report also says 4 out of every 10 startups today are in the red zone. More here

Singapore’s Great Eastern to invest US$70M for a 22% stake in Axiata’s fintech arm Boost at US$320M valuation; Boost is an e-wallet and lifestyle app with over 7.5M users, 170K merchants in Malaysia; With this, Axiata’s stake in Boost will come down to 78.125%. More here

VCs-backed Social Bella launches e-commerce platform for mothers; The unit offers curated personal care, treatment and hygiene products for the segment; Around 100 brands are available; In 2019, Social Bella raised US$40M led by EV Growth, Temasek. More here

Toyota holds US$293M stake in Uber; That is ~0.6% of the ride-hailing giant’s outstanding shares; The automaker reduced its shareholdings in 24 companies and increased them in 10; Toyota currently has an interest in 174 firms, including 65 listed companies, compared with 200 firms in 2015. More here

Most employers in Singapore remain fair, reasonable amid COVID-19; Ministry of Manpower says up to 187K workers (5% of total workforce) have been affected by employers’ cost-saving measures; The largest group of affected workers numbering 45K hold jobs in accommodations, food services industries. More here

East Ventures (EV) forms new US$88M seed fund, announces first close; The sector-agnostic fund is for COVID-19-survived startups; EV has backed 170+ firms across SEA; It is an early investor in Tokopedia, Traveloka. More here

Digital green economy: How tech can help save the planet; The emergence of new ‘green tech’ that use blockchain technology to actively address the most urgent environmental issues in various forms: greenhouse emission, plastic pollution, forest conservation, and protection of endangered species. More here

Key management areas for businesses to address during and after the pandemic; Sticking to the status quo is out of the question for ‘going concern’ businesses; Strategy rethinking, employee management, and the response to regulation and scrutiny may entail significant or even radical changes. More here

Enterprise Singapore sets aside US$55M grant to boost the agri-food tech sector; The grant complements the nation’s “30 by 30” goal; Since the start of 2020, investments of at least US$40M from both public and private sources have been made into agri-food tech startups. More here

Singapore startup to open ghost kitchens in 1K+ locations globally; TiffinLabs currently operates 9 digital-first restaurant brands out of its kitchens in the city-state; It will leverage its AI-driven kitchen operating and management system to deliver an international menu from digital-first restaurant brands; It targets to reach 15M+ households. More here

Redefining productivity in a pandemic; The work culture in APAC tends to lean towards in-person connections, and video calls play a critical role here in replicating real-life conversations; Companies that did not have flexible working policies pre-COVID should think hard about its implementation as remote working becomes a way of life. More here

How we can keep 5G networks secure; At the heart of successful 5G adoption is govt commitment to a ‘Zero Trust Architecture’; No cybersecurity prevention is 100% effective and organisations need to implement an effective security process centred around threat detection and response. More here

7 recommendations for cryptocurrency and utility token issuers; If cryptocurrency and utility token issuers want to list their tokens on public markets, they should provide basic levels of transparency; Increasing transparency is a long-term positive for projects and essential to the long-term growth of the digital asset industry. More here

Singapore prepares for a thriving 5G ecosystem; Singtel and JVCo will deploy nationwide 5G standalone networks; Businesses, including SMEs, will be able to develop and test 5G-enabled devices and apps. More here

Cybercrime jumps over 50% in 2019, new threats emerge from COVID-19; There were 9,430 cybercrime cases reported last year, up 51.7% from the 6,215 cases in 2018; The common types of cybercrime were e-commerce scams, phishing and malware attacks; E-commerce scams remained the top scam type in Singapore last year, with victims losing US$1.7M from US$1.4M in 2018. More here

iflix acquisition by Tencent is a sign of consolidation; The subscription video-on-demand (SVOD) market is crucially competitive; The acquisition should cause the biggest splash in Indonesia and Malaysia where Tencent doesn’t have ops; In April, Singapore’s SVOD firm HooQ stopped its service. More here

Malaysian tech companies gear up to expand via MDEC’s virtual market access drive; MDEC hosted GAIN Connex Indonesia; The virtual event drew 105 participants, including 40 Malaysian tech firms that were given exclusive insights on doing biz in Indonesia, gaining market access in the republic. More here

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