The sprawling innovation hub

In today’s fast-paced environment, a “do-it-alone” approach is not exactly the best strategy for growth. Companies that initially grew organically need to look for new ways to drive collaborative innovation that delivers on what their customers need today – and in the future.

This is especially true when your mission is to be an interconnected ecosystem for startups and tech entrepreneurs in Southeast Asia. Located in the hustle and bustle of Bangkok, True Digital Park (TDPK) is Southeast Asia’s largest startup campus, a digital innovation hub with leading tech giants, startups, government agencies, incubators, VCs, support services, and much more.

True Digital Park’s 17-acre campus and work space

Not too long ago, TDPK unveiled the ‘Work Space’, with the tagline “One Roof, All Possibilities,” and with the overarching vision of becoming the next global innovation hub at the heart of Southeast Asia. 

Despite the challenges due to COVID-19, TDPK has certainly found all possibilities under one roof. In this year alone, the campus managed to welcome over 200,000 visitors. That’s more than double the amount of visitors they received in 2019. Currently, TDPK houses 110 companies and over 4,200 tenant employees. Dr. Tarit Nimmanwudipong, General Manager of True Digital Park, believes that this year’s success is in part accredited to all the partnerships that have made TDPK visible on a regional scale.

Also read: One roof, all possibilities at the heart of Bangkok

Visibility through the e27 ecosystem platform 

In a recent interview with e27, Dr. Nimmanwudipong mentioned that “True Digital Park couldn’t have made it without partners. Not just startups, VCs, government, or tech giants. We also need media partners.”

“And e27 has helped us shout out that Southeast Asia now has True Digital Park as the largest tech and startup hub.” he adds. 

Throughout 2018 and 2020, TDPK has leveraged e27’s coverage to build its brand awareness campaigns to elevate TDPK as the next global innovation hub. Dr. Nimmanwudipong further added that the campaign with e27 made it possible for “several organisations looking for partnerships and individuals looking to join our events or networks [to reach] out to us because they heard about us from international media, e27 included. These individual contacts that came from all over the world are a big part of what will strengthen our interconnected ecosystem.” 

TDPK has also been a sponsor for e27’s Echelon Asia Summit. This valuable partnership opened the opportunity for them to meet startup founders, key executives, and decision-makers from corporates, investors, and representatives from different government sectors across the region.

One roof, all possibilities

Building an interconnected ecosystem in a time of crisis and the future 

We find ourselves in extraordinary times. But despite upheaval from the global COVID-19 pandemic, TDPK’s mission to remain an interconnected ecosystem for startups and tech entrepreneurs in Southeast Asia remains unchanged. 

For starters, the pandemic has triggered a migration of all campus activities to online platforms. This has prompted TDPK to not only create virtual meeting activities, but also find a way to build business collaboration virtually. 

Dr. Nimmanwudipong pointed out that “The show must really go on because everyone needs to be ready from the day the sky is clear post-Covid. Building an interconnected community wherein each business knows they are not alone with the potential to build stronger businesses with partners locally and internationally is very critical.” 

To be Thailand’s largest startup destination, “TDPK must look beyond the sheer size of the campus and create a larger mass of new talents and businesses in Thailand and the region.” Dr. Nimmanwudipong adds.

Also read: True Digital Park’s “Togetherness of Possibilities” drives digital transformation in Thailand

One Region, All Possibilities

“Two heads are better than one.”

The famous saying tells us that there is no better approach to solving challenges than collaboration. Whether creating internal partnerships between colleagues or departments, to larger partnerships between businesses, harnessing the strengths and abilities of others from different corners of your ecosystem is one of the most strategic ways for businesses to scale innovation and solve complex challenges. 

The importance of building an interconnected ecosystem for startups and tech entrepreneurs in Southeast Asia goes beyond a physical space. As businesses are equipped with access to real-time information, the outcome is improved efficiency and better business decisions. 

TDPK’s collaboration with e27 proves that priorities are shifting to transform internal systems and external communications into a digital ecosystem, and that putting the word out to a wider and relevant audience can bolster their vision of creating an interconnected ecosystem in the region.

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True Digital Park worked with e27 for a series of campaigns to tap into e27’s network of startups and reach out to a wider targeted audience. We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us here to get started.

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Even before the COVID-19 pandemic hits the global market and forced everyone to rethink how things are being run, digital transformation and its risks have already stolen the attention of many business players, as reported in this Wall Street Journal article.

But with the pandemic restricting movement in various countries, the Southeast Asian (SEA) startup ecosystem saw a surge in popularity of platforms that enable digital transformation for conventional businesses among investors. In August, e27 covered at least four of such funding rounds.

Each of these companies is covering the different aspect of digital transformation. Wahyoo and BukuKas are working with medium- and small-sized enterprises (MSMEs) in Indonesia while Intrepid Group’s reach also includes major consumer-facing brands.

In fact, from the VC side, MDI Ventures had announced a new US$500 million fund that aims to help the digitalisation of Indonesian state-owned firms.

Another trend that has been widely discussed among investors, including Paul Meyers and Jussi Salovaara in an e27 Webinar episode, is the rise of M&A and strategic acquisitions. In August, we saw the acquisition of TradeGecko by global SaaS giant Intuit, which proved that the SEA market remains a promising destination for global companies. In addition to them, there were also the acquisitions of EmpatKali by AfterPay and iMoney by JurisTech.

Also Read: OKR is a startup lifesaver. Here is how to craft them

Popular sectors

As with the previous months, there are sectors that continue to be popular among investors in SEA such as fintech (Clik raised US$3.7 million in seed funding while Incomlend raised US$20 million in Series A) as well as e-commerce and logistics (Anchanto raised US$12 million, KitaBeli raised an undisclosed seed, and SIRCLO raised US$6 million in Series B).

We also saw investments in edutech (Doyobi), gaming (Potato Play), and alternative protein (Lever VC’s first fund).

In the agritech sector, particularly in Indonesia, fishery became the centre of attention as eFishery and Aruna announced their funding rounds.

In Singapore particularly, the deep tech sector continued to see funding trickled in as Gero.ai, TADA, and See-Mode secured their funding rounds, both raising more than US$2 million.

For the unicorns, Grab was reported to be in the process of raising US$200 million from a South Korean private equity firm. The company has declined to comment on the report.

What this means for the ecosystem

August was the month where we saw most of the predictions about the SEA startup ecosystem coming true. In addition to the M&A activities and the popularity of platforms that enable digital transformation, we also continue to see investor favourite during the pandemic flourishing –from e-commerce to medtech to logistics.

Also Read: Why e27 Pro member Incubate Fund remains optimistic about the startup ecosystem in Japan

We predict that this trend will continue in September –perhaps even all the way to the end of 2020. As the dominating theme of the year, the pandemic will continue to affect investors’ appetite and setting up trends in the ecosystem.

What can startups do to seize this opportunity? There are many approaches to explore. While a startup should always be ready to make adjustment through a pivot, they can start by trying out new strategies such as collaboration with external parties or adjusting your financial prjections.

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Image Credit: Charles Deluvio on Unsplash

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VC firm OBOR Management to accelerate investment in Cambodia with newly-approved license

The story: Venture capital firm and fund manager OBOR Management has been issued a Fund Management License by the Securities Exchange Commission of Cambodia (SECC).

The background: The Fund Management License is one of several licenses the SECC began issuing since mid-2018 that allow private individuals or entities to act as fund managers in Collective Investment Schemes (CISs). Only those with licenses can raise funds and invest them on behalf of individuals.

The plan: With the new license, OBOR Management is now able to offer small and medium-sized enterprises (SMEs) and startups alternate sources of regulated funding while giving local and international investors the opportunity to invest in fast-growing Cambodian businesses.

OBOR Management Chairperson Christophe Forsinetti, said: “The license will help expand financing strategies for SMEs and startups beyond bank and Microfinance Institutions (MFIs) loans while allowing local investors to diversify investments into new asset classes previously limited to real estate purchases and bank deposits.”

What is OBOR Management: OBOR Management is a Phnom Penh-based venture capital firm and fund manager investing in SMEs and startups led by visionary entrepreneurs building market-leading brands. The firm supports SMEs and startups through CISs, access to resources and networks, and hands-on mentorship and guidance.

Also Read: The rise of the subscription economy in Southeast Asia

Malaysian product, service subscription marketplace PopWonders officially kick off operation

The story: PopWonders, a Malaysia-based e-commerce marketplace specialising in product and service subscription with an aim to help all small and medium business owners to start an online business via the subscription model, announced its official launch. The company’s website will officially launch in the third quarter of 2020.

How PopWonders works: PopWonders helps merchants to launch their own subscription-based businesses by streamlining the processes for them.

PopWonders allows merchants or retailers to list their products and use the backend system for free. The platform then automates subscription processing and transactions for online merchants and charges a minimal fee to the customers for each transaction.

PopWonders also provides services such as inventory management/shipping tools, brand-building assistance via influencer marketing, hybrid AI chatbot, and in-depth data analytics.

The goal: PopWonders aspires to prop up the retail fad in Malaysia by helping small and medium business owners expand their business online through this e-commerce platform. Instead of focussing on the closing ‘the deal’, an individual sale with a big profit margin, PopWonders wants merchants to secure recurring revenues by continuously building good relationships with their clientele and offering a unique and delightful online shopping experience.

PopWonders will launch ‘Subscription Academy’ soon to guide merchants on how to start a subscription-based business.

Also Read: Budget hotel startup ZEN Rooms’s Co-founder Kiren Tanna steps down after Yanolja’s acquisition

South Korean leisure tech group Yanolja partners Malaysian Bnetworks to expand hotel tech solutions to Southeast Asia

The story: Yanolja, a South Korea-operated unicorn leisure platform has expanded its hotel tech solutions to Southeast Asia via a partnership with Malaysian accommodation platform Bnetworks. According to an article by Digital News Asia, Bnetworks is an incubatee of Technology Park Malaysia (TPM) Corp.

The deal: Further report noted that both companies will “combine its respective technologies and hardware to roll-out IoT & AI-driven automated room management systems (RMS)”. They will focus on countries such as Malaysia, the Philippines, and Singapore.

What is Yanolja: Yanolja is a South Korean unicorn startup focusses on providing all services for travel including accommodation, leisure, and transportation. In the offline sector, it is one of the largest franchise operators in Southeast Asia, managing more than 10,000 rooms.

It has integrated entire hotel operations, covering from front office to back office including housekeeping and maintenance. Yanolja connects the B2B2C value chain of the travel industry with a one-stop network and integrates it into a single platform.

What is Bnetworks: Bnetworks is a member of MDEC’s GAIN programme that is designed to catalyse the expansion of Malaysian tech companies to reach the global stage. The company provides a smart living through innovative automation and digitalisation solutions for private and commercial dwellings through its bWave IoT platform.

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Image Credit: Vouchlim Ton on Unsplash

The post In Brief: OBOR Management to accelerate investment in Cambodia with newly-approved license appeared first on e27.

MOX virtual graduation of startups

Mobile Only Accelerator (MOX), an SOSV accelerator for mobile-first markets in Southeast Asia and South Asia, has announced the seven graduates of its ninth cohort. This six-month-long intensive accelerator programme receives about 150 applications per month.

Selected startups receive US$100,000 to US$120,000 in funding from SOSV and MOX, along with valuable mentorships and partnerships.

Some of the programme’s partners include smartphone brands, mobile telcos, ad networks, media companies, financial institutions, and mobile content providers in Southeast Asia, India and beyond.

“The monopoly-like position and expansion into every industry in the market by internet leaders has driven increased interest from banks, telcos, retail chains and even smartphone brands in promoting MOX mobile services in return for long term revenue share,” William Bao Bean, Managing Director and founder of MOX, said in a press statement.

“We are seeing an amazing inflexion point with monthly active users of MOX apps, growing five times to almost 80 million over the past year with zero spent on marketing.”

Also Read: It’s going to be an economic apocalypse, William Bao Bean warns. But some industries are here to stay

While all of MOX’s accelerators have always been held in person, due to COVID-19, the current programme is held entirely virtual.

Here are the seven startups graduating from MOX’s ninth cohort:

Deliverfuel (India): A startup which provides a fully licensed on-demand fuel delivery service.

MobiGarage (India): A platform for mobile and laptop care solutions.

MyRobin (Indonesia): Provides on-demand, pre-screened and flexible workforce to businesses within 24 hours.

PriceOye (Pakistan): An e-commerce platform for smartphones and electronics.

Superpro.ai (India): Helps working professionals bring offline consultations online with AI.

Tokn (India): Helps local retailers obtain new customers via cross-promotion.

Vani (India): Provides voice assistance for different local languages.

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Image Credit: MOX

The post Meet the 7 graduates of SOSV-backed MOX’s 9th cohort appeared first on e27.

Empty roads, buses and trains at 8 am. Such scenes are a stark contrast to what we have seen in the major cities of Southeast Asia in recent decades, as increased populations and economic activity, coupled with car and motorcycle ownership, put pressure on transportation systems.

​With COVID-19, one solution for Southeast Asia’s peak-hour traffic problem seemed painfully simple: reduce non-essential travel.

​When case numbers rose in Southeast Asia, governments and employers took measures to limit entry to workplaces for non-essential activities and where possible, adopt telecommuting practices.

​This has led to a rare respite in all Southeast Asian congested cities – reducing significantly traffic jams that daily commuters had to go through before the pandemic – which for many translates into a better quality of life.

On the other hand, studies have shown that 61 per cent of employees in Asia Pacific offices missed going into the office and would prefer a hybrid model including more flexible work arrangements in the future. These transformations will require employers to adapt schedules and impact mobility infrastructures in the long term.

Embracing the future of work, adopting new flexible work arrangements

​Many employers are already redesigning workspaces and processes in response to the pandemic.

​Pre-COVID, uniform work hours often led to employees’ exposure to crowded environments, from their homes to their desks, and vice versa.

Also read: A hyper-intelligent workforce and the future of work

​Employers now reconfigure their managed spaces to allow safe distancing practices and let employees safely alternate their usage of personal workspaces, instead of fitting every employee within the office. Several jobs where an onsite presence was once deemed essential are now being done from employees’ homes.

​Companies around the world are rethinking office hours based on the learnings from implementing work-from-home protocols. Although workplaces are now being re-opened, they have an active role in preventing cross-spreading among their employees, so that their workplaces do not revert to a lockdown state.

Taking a human-centric approach to mobility

The post How the future of work will shape the future of mobility appeared first on e27.