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Meet the 15 Asian startups that will advance to Seedstars World Competition 2020

The local winners of the Seedstars World Competition (SSW) 2020 have been announced with 15 startups from Asia included in the batch.

The next phase will take the local winners to the regional stage where 10 startups will receive US$50,000 in the growth program investment as well as the chance to compete at the Grand Finale for a shot at the “Global Winner prize of US$500,000 in equity investment”.

The regional stage will include a one-month long programme to help startups get investment-ready. It will include action-driven webinars on key business metrics; online office hours, where startups can discuss challenges they are facing; domain groups and one-on-one mentoring sessions; investor meetings for potential funding opportunities; and peer-to-peer learning and networking sessions.

“Sourcing for early-stage tech startups used to be linked to the ability to find one hidden gem out of hundreds of applications. Times have drastically changed, especially in Asia. With the development of technology, a surge in internet adoption, and a fast-growing market, new entrepreneurs are capturing these opportunities by using technologies to solve our daily problems. I wish the best of luck to all the winners for the next stage of the SSW 2020/21 Competition, and I hope we will see an Asia-based startup becoming the Global Winner this year,” said Seedstars Asia Regional Manager Giovanni Corradini.

The Swiss VC fund has a portfolio of 59 startups across the globe. It claims to have more than half of its companies to have successfully gone on to raise follow-on capital from later stage investors such as Omidyar, Sequoia and YCombinator.

Also Read: Meet the 3 startups from emerging markets that will pitch at Seedstars International Demo Day

Here are the 15 selected startups:

shurjoMukhi Limited (Bangladesh)

An online payment gateway for online banking, bill payment and shopping. 

One Click Shop Bhutan (Bhutan)

An e-commerce grocery store.

PlasGate (Cambodia)

An SMS gateway and aggregator.

BOXS (Hong Kong)

BOXS Universal Interface connects all technology to optimise and automate company workflow.

iSchoolConnect (India)

Improves school admissions by utilising marketing, recruitment, assessment and engagement.

TukangSayur (Indonesia)

Allows users to shop for economical, fresh and hygienic vegetables through a smartphone.

Finology (Malaysia)

Fintech company primarily serving clients in banking, insurance and property industries.

Message Owl (Maldives)

A B2B and B2C SMS platform which allows businesses to send SMS Messages (Promotional and Transaction).

Also Read: E-payment solution Duithape wins Seedstars Jakarta

Kiu Myanmar (Myanmar)

Empowers MSME/SMEs to improve their business efficiencies by channelling loans to grow their business.

Diyalo Technologies Pvt. Ltd. (Nepal)

Software company that develops level applications for web and mobile devices.

ELN Limited (Pakistan)

Provides online vocational training to over 25 countries in education, quality assurance, health and safety.

Smartfuture (Singapore)

Offers integrated IoT and AI-enabled white-label platform for telemedicine to healthcare providers.

Healthnet (Sri Lanka) 

An online registered and licensed pharmacy that delivers medications at the doorstep.

Foodie (Thailand)

An online food delivery platform that also includes breakfast and tiffin services.

Also Read: Sayurbox wins Seedstars Jakarta, will represent Indonesia in world final stage in Switzerland

Bot Ban Hang (Vietnam)

A leading messaging and omnichannel commerce for online businesses.

Image: Seedstars

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Mangkokku raises US$2M from Alpha JWC to expand its chef-level dishes biz in Indonesia

Mangkokku

Founders of Mangkokku

Mangkokku, a culinary startup based in Indonesia, has received US$2 million in seed funding from local VC firm Alpha JWC Ventures.

With the fresh investment, Mangkokku is aiming to open 30 branches by the end of 2020 and more than 75 by 2021.

Mangkokku was founded in 2019 by Indonesian Masterchef judge Arnold Poernomo and businessman Randy Kartadinata. The duo also partnered with two F&B serial entrepreneurs Gibran Rakabuming and Kaesang Pangarep, who are also sons of Indonesia’s President Jokowi.

Also Read: Alpha JWC Ventures expands F&B portfolio with US$5M investment into Goola

The startup offers professional chef-level dishes in the form of rice bowls at affordable prices. Spinning a local twist on conventional Japanese rice bowls, it uses local ingredients to suit their rice bowls to local tastebuds.

Mangkokku currently operates 22 branches in the Greater Jakarta area and plans to expand into Surabaya soon.

The startup is now looking to expand its offerings beyond rice bowls in 2021.

Starting with beverages, dessert and packaged sambal chilli sauce, it plans to eventually roll out other dishes to become an end-to-end culinary solution for its customers.

“We see that F&B continues to be an attractive sector that could benefit from technology enablement and venture capital investments. Mangkokku clearly has shown strong traction even during the pandemic, which proves its product-market fit. Our support on capital, know-how, and resources is to help the company scale faster and evolve from what’s already good to a great, lasting business,” said Eko Kurniadi, Partner at Alpha JWC.

Kartadinata claims Mangkokku serves 400 to 600 bowls per branch on a daily basis. However, he is not satisfied.

Also Read: How Cooklab seizes new opportunities during the pandemic to become Indonesia’s answer to Blue Apron

“The dream is to become Indonesia’s largest F&B group targeted to the mass market and build our own ecosystem of multiple brands and culinary institutions. Not only that, but we also want to be the best culinary company in terms of local and regional scalability, as well as operations excellence. That’s why we took this startup route and partnered with Alpha JWC Ventures,” he added.

“Our passion for local food is what started the company, and we believe that the core of Mangkokku lies in the superiority of our dishes and continuous innovation,” Poernomo said.

“We are also building a company with a global mindset: that the only way we can grow fast, right, sustainably, is by providing the best options at affordable prices and maintain a standardized process in every single dish we serve. That’s why we operate all of our branches and apply technology-enhanced cooking processes to maintain product quality and consistency,” Poernomo concluded.

Image Credit: Mangkokku

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How Inmagine is Googlising its workplace to foster an inclusive and collaborative work culture

Google.

This global brand comes to our mind when we hear the phrase ‘work culture’ —  and a job here is a dream for many of us.

But what makes Google’s work culture unique?

The answer is simple: its work culture is synonymous with employee engagement. It actively encourages employees to innovate. What is more, at Google X lab, employees are encouraged to ‘shoot for the moon’ and are rewarded for their failures

The Asian companies are not as evolved as their Western counterparts when it comes to providing a great work culture, but they are gradually catching up. Many are now genuinely trying to do a Google by making their work culture flexible and more fun.

Malaysia-based Inmagine Group is one such firm. Founded in 2000 and headquartered in Kuala Lumpur, the group owns many product — CraftBundles, Designs.net, EasyDesign, LoveSVG, TheHungryJPEG (which it acquired in March 2017), Pixlr, SoundBounce, StockUnlimited, Story & Heart, Designs.AI, and Vetr (acquired in November 2017).

Over its two decades of existence, the group has evolved its culture and has now become more inclusive. 

In this freewheeling interview with e27, its group CEO Stephanie Sitt, Assistant Manager (Talent & Culture Operations) Will Tan, and Head (PR & Social Media) Abigail Thien are sharing insights on the company’s inclusive and empathetic work culture.

Below are the edited excerpts: 

What is your definition of work culture?

Sitt: I would say that culture is all about how a group of people from different backgrounds come into one place, mix, live together, tolerate each other’s weaknesses, see the beautiful sight of strength of everyone, and get things done. This way the life goes on in a very healthy manner.

In my perspective, the uniqueness of our company culture is that even though we are a corporate, we take care of our staff and have always practised the vision of empathy and spread positivity.

Inmagine CEO Stephanie Sitt

This is very important because we all have our problems in our personal and professional lives. But we always seek to spread positivity and make sure that everyone around us in the office is like a pillar to everybody.

Also Read: Having the right team is the single biggest determinant of your success: 123RF Co-founder Stephanie Sitt

I am a quite expressive person, who always says to the staff “thank you guys, you are the pillar for me to get my job done”. Without my staff, my hands are tied and I won’t be able to do my work fully focussed.

Another peculiar aspect of our culture is that we don’t retrench employees or resort to pay cuts. Protecting jobs and dispersing salaries on time, etc. are very important for us even during the ongoing crisis.

We have these core values of togetherness with differences in the forms of culture and the beliefs we have, so that we could get things done as a team.

Thien: The most unique part of our company culture is that we have a voice and we feel safe. Inmagine likes to hear us and allows us to share our thoughts and send in suggestions.

This, I believe, is a great way for employees to share their needs and grievances with the firm. At the same time, it also shows the concern for the well-being of the staff.

Tan: Inmagine gives utmost importance to the interests of the staff. It has an inclusive kind of environment. Everyone has a voice, which we believe is a very key component of making a very strong and healthy culture in any company, not just Inmagine.

Do you follow startup culture or corporate culture?

Sitt: Although we have evolved from a startup to a corporate now, our work culture comes somewhere in between. When it comes to work, there are certain things that we don’t want to act like a startup.

Back in 2000, the year we started, we had just a handful of employees, of about seven. I remember when we turned three, everything was still at an infancy stage.

A typical startup mindset is that we could make decisions quickly. Things move faster in startups. Everyone could chip in with their suggestions and get things done quickly.

However, the culture changes as we grow the team and hire people from different backgrounds and with different skillset. When business needs changed, processes have also changed and we have developed a more detail-oriented culture.

Having said that we still want to maintain certain DNAs of a startup. Two years ago, we started something called “corporatisation” exercise, wherein we communicated with the staff about the needs for changes, so they don’t get culture shock.

How do you bring the culture component to the employee hiring process?

Sitt: We do not hire people who could fit into our culture; we hire candidates who have the skillset to perform a specific function, thereby contribute to the workforce and the growth of the firm. And then, they assimilate to our culture.

Google has one of the best work cultures. Do you emulate it in any forms?

Sitt: Yes, very much. At one point of time, I was even using the phrase “Googlising the office” by providing free food and flexible working hours like Google does.

If you’ve been to our office, you can see Captain America, Claw Machine, PlayStation, karaoke and artificial grass. All these things were brought in to make our workplace cool. These things will speak enough about the differences/uniqueness that we have compared to most conventional offices out there in Malaysia.

What, in your view, are the key factors that contribute to building a great culture?

Sitt: It starts with understanding each others’ needs — personal or work-related. It is not just between employer and employees, but also among employees themselves.

Respect each other. We all come from different cultures and backgrounds, and we speak different languages and have our strengths and weaknesses.

We just need to be a bit sensitive with all this. And more importantly, take good care of your own career and then only we can care about others and care for the business.

How do you keep your employees motivated to be creative and innovative?

Sitt: It all depends on the projects, the departments and sometimes the team leads.

If I speak for myself, I always like to throw challenges to my team members who report to me. I throw them certain crazy questions and get them to think about it.

Also Read: Is your new work-from-home culture stressing your employees?

We do not practise serious hierarchical kind of relationship with our colleagues. It’s all about “okay, someone has some crazy ideas and let’s talk about it”.

I always have a lot of crazy ideas and I like to talk to someone. It may not necessarily be face-to-face; at times, I share them on WhatsApp and then the guys just think about it on the weekend. By the next working day, they come back with some crazy feedback at the very least.

This keeps people motivated because these tasks will sometimes be quite entertaining. That’s just how I see it.

I think this is the direction that an organisation should take. They should always communicate with the staff and should made themselves to be as approachable as possible and exchange ideas with each other.

We don’t have what they call it “you are the boss”. It is all very all inclusive.

Do you recognise your employees with talents in music, dancing, etc.?

Sitt: Yes we do. We organise an annual dinner for our employees, which also acts as a platform for our staff members to perform their skills. We also give out prizes.

Instead of hiring top performers from outside, we sometime consider our own in-house performers.

Tan: Yes, we do recognise talents. Everyone is unique in terms of his or her strength and talent. We organise events and we call them not just for performances but we also ask them to come on stage to share their thoughts just to get the ball rolling.

And everyone will be more than happy to chip in with ideas that will also translate into one-off performances on stage. Everyone is able to voice out.

We are a very tech-driven company, so we need to keep up with all the updates, changes. Sometimes, we can get a little bit overloaded with all the information but we are able to have this stand-up session just to have individuals to contribute.

And I think that is healthy for every staff to be able to work and see that they contribute to growth of the company.

How do you foster a culture of ‘intrapreneurship’ at Inmagine?

Sitt: Intrapreneurship takes place in various departments. In my view, ‘intrapreneurship’ is not just about the business or revenues but is also about taking ownership of projects and taking the lead from there.

When there is a new project, we will ask our staff members who are interested to participate and we then encourage them to take it from there.

Sometimes they worry that what if they cannot deliver or live to the expectation. This is where the management plays a role. We encourage them by saying: “you have this strength and skillset, why don’t you take it up?”

We will also lend a ear to their concerns and listen to their feedback and guide them accordingly. This creates an impression that they have someone to take care of them when things go wrong. But most of the time, they will be doing it on their own.

Who plays a greater role in building a company culture — the bosses or employees?

Sitt: I would say it is 60-40, with the majority coming from the management/team leads and 40 per cent from other team members. So it is a mix of everything. And if we dissect it into the patterns, then each department is different.

What is the impact of the pandemic on your company culture?

Sitt: The pandemic has definitely impacted us, especially our work culture because this meant a total switching to a new working model, that is working from home.

Also Read: Pivoting beyond product: You need to look at your company/work culture, too

We miss the laughter during the meal time/break time. Everything is now very much reliant on online meeting to keep everyone together.

We always like to do meetings on the video, so everyone can see each others’ face. But poor Internet connectivity often creates hurdles. Whatsoever, everyone remains equally busy and productive.

During the pandemic, we launched two new products — Pixlr and Designs.AI in February and March, respectively. These two products keep our guys quite busy.

But the culture of ‘work from home’ comes attached with its own challenges. Distraction is one; you get distracted with your domestic affairs/daily routines. However, we provide an online exercise session for the staff during town halls and keep everybody updated about what’s going on and remind them to have discipline not just in the work but in the life as well.

The stress and the months of lockdown can make employees mentally weak. They often get stuck in front of their computer/laptop for quite a few hours and unknowingly skip the meals. When you work at home, you still need to spend time to take care of yourself.

Thien: At office, staff will be served lunch and tea break. These break-out times help us stretch out and walk around. It also gives us an opportunity to mingle with our colleagues and get to know each other well.

I think providing free lunch and the daily team breaks help improve the work culture, and they also bring employees closer together. In doing so, you release some stress as well.

For all this to make a reality, you need a great leader. What according to you makes a great leader?

Sitt: In my perspective, a leader is someone who listens, has empathy, doesn’t jump the gun, and has good emotional quotient. It is not just about intelligence but is also about how you manage a team during disasters/serious conflicts. A leader has to be very calm and objective to solve a problem. He/she should always spread positivity.

Also Read: The new communications playbook for the new normal

I’m not an argumentative type. Neither am I someone who put blames on my colleagues when things go wrong.

I think with the kind of work we do — which is so unique — understanding why things go wrong and what we can do to make it better in the future is more important. And there is no pointing fingers at each other.

Do you collect employee feedback? How do you do it?

Sitt: All the time. We have a channel for our staff members to write to us/shoot us anything any time. We look at each one of the questions carefully and compose our replies in a structured manner. We give utmost care while drafting our responses.

Most of the time, employees see things from their perspective and don’t see things from the company’s perspective. Sometimes they do not understand things and they may not be able to connect the dots and often fail to see the full picture.

When we get bombarded with rude feedback, all we we need to do is evaluate those points. If there are things where we have done wrong, we apologise. If there are things that we know that we can improve, we would think of that.

That’s how employee feedback works at Inmagine. We use the staff’s communication platform for these exchanges. We don’t hide messages. Staffers can also send their feedback anonymously, but we give due seriousness to every feedback.

Do you retrench/fire people? Can you share the process?

Tan: For our record, we do not really terminate anyone’s contract. If there is any friction, we speak with the aggrieved staff to know what their grievances are and sort out things.

We believe it is the extreme step to fire someone. Even if there is no other way out, we will ensure the process is smooth. We don’t burn the bridges. We may have differences but then we work out a solution that provides a win-win solution for both parties.

How do you stand out in terms of building a conducive environment for your workforce?

Sitt: We truly provide a steep learning curve. As far as my knowledge goes, there are no other workplaces or companies which provide the same knowledge and experience as we do. At Inmagine, it’s all about learning. However, it is up to the individual.

I have to admit that I had serious millennial syndrome when I was young. Millennials nowadays are often labelled as troublemakers. Back then, I wouldn’t listen fully. It is not that I didn’t listen; I did but I didn’t agree. I always thought that I was right, so even when I was young and working, I gave lots of headache to my superiors.

Here at Inmagine, we have lots of young people who want to lead. They may be inexperienced and it may be their first or second job. However, we do not want these talented young people to start on the wrong ground.

So it’s all about communication and on-job training where we talk about steep learning curve to make them the best of what they do.

The Inmagine team

Inmagine team

There are times that we also empower them to lead various projects. There are certain days they look for you for some advice, but they may not want to fully listen to you, so they will still put some of their own ideas as well.

But sometimes, we let them learn from their failures. We need to give people certain space to test and validate. We say it’s okay if you make a mistakes that don’t prove costly. That’s my perspective on how I lead a team.

Also Read: Startup founders are responsible for their remote employees. Here’s how to fulfil your duty of care

In that sense, there are quite several leaders at Inmagine. But of course, there are certain departments, say IT for example, where we do not allow them to test on certain things.

But if it is a new product that we develop, we may allow staff to experiment.

Tan: I think that there’s enough room and space where we can go and start to get creative. Being able to work in this company is all about being creative and finding a solution. An opportunity is given with the space that we have, which allows us to become more agile.

I think all this part and parcel of your personal/career growth.

At the end of the day, the company will generally benefit from all this. I believe it’s healthy for anyone to emulate that.

What is you advice to entrepreneurs as the chief of a corporate?

Be truthful, honest, humble and transparent to your team members, because all these things will eliminate a lot of misunderstanding.

We now have a lot of young people who have lots of ideas. So being a boss, when you listen to others, it doesn’t cost you anything other than a bit of time. So it’s okay to spend a bit of time to listen to others, let’s say 30 minutes every week. 

Image Credit: Inmagine

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Building business in the mobile age: strategies to maximise business app solutions

Over the years, businesses have embarked on digital transformation and mobility journeys that have vastly changed how employees work. Whether you’re looking for a team management platform, a video conferencing tool, or a seamless mobile payment solution, chances are, there is already an app for you readily available on your mobile phone. With the advent of technology and digitalisation amplified by today’s unique market, one key advantage is the democratisation of software development — enabling the influx of different app solutions designed to accommodate various business and personal needs.

With COVID-19 figuring into the equation, the mobile messaging market alone has demonstrated spurring growth that is expected to span all the way to 2026. The pandemic has also sparked a growing demand for contactless transactions, paving the way for the widespread adoption of mobile payment solutions. These are only some of the tools impacting businesses everywhere that have seen significant developments, particularly in the mobile working space.

Also read: How Inmagine is Googlising its workplace to foster an inclusive and collaborative work culture

These apps help people operate businesses, manage teams, communicate remotely, and organise information, among many others. But of course, mobile apps are not one-size-fits-all, therefore, broad solutions are not always able to accommodate the complex demands and specific needs of all businesses.

Thankfully, with this advent ushering in a more digitalised future, it is also much easier for businesses to customise, collaborate, strategise, and develop tools themselves that others may also use — whether as businesses in need of similar solutions, or customers looking for mobile access to your products and services.

The future is mobile

There is an important case to be made as to why companies must turn to mobile apps in order to improve their performance.

From an internal perspective, it is crucial that companies and their employees are able to maximise their efforts despite segregated and remote working environments. Communication lines must remain intact, meanwhile, task delegation must be streamlined under one convenient platform made accessible to all.

Also read: How Singapore is working with startups to prepare local travel and tourism industry for its comeback

Moreover, from an external perspective, there is a slew of benefits to be gained from engaging your customers through mobile apps. Research shows that smartphone users spend at least 162 minutes daily on a couple of apps on their smartphones. With many people using mobile phones around the globe, mobile apps can operate as a portal to your company, increasing business visibility and promoting growth.

Through the power of a mobile app, you can increase customer engagement, create a direct and personalised channel, build brand awareness, and capture customer insights, encompassing only a few of the many major perks that come with developing your own business app.

These benefits empower customers not only to access your company, but conversely empowers your company to access various markets as well.

Solutions for you, by you

With the growing complexity of business needs, solutions must be flexible and customisable in order to effectively address unique and specific challenges. This is the beauty of digitalisation: today, businesses that require a more customised tool can collaborate with app developers to create mobile solutions fit for distinct problems. Moreover, businesses also have the power to develop those app solutions themselves — aided with the right knowledge and skills.

This ultimately contributes to a wide selection of apps available in the market that can help companies work seamlessly and effectively anywhere they are — underscoring the important role of mobility and automation given today’s business climate.

Join us: Explore strategies to maximise the value and impact of apps on your business and operations

As such, it is also important that companies develop a certain level of awareness of their own needs in order to properly strategise how existing tools can be married with new solutions and innovations in a way that optimises business performance.

With all the apps available and our capacity to co-create and develop new ones that address more specific problems, the next important step is for businesses to turn to experts in order to gain knowledge and insights on how to maximise solutions that reshape how companies work — making them not only more mobile, but also more efficient.

Smart and strategic ways to build business

As we plunge further into the digital future, companies must be strategic when it comes to navigating our seemingly endless pool of solutions. Not only should companies be keenly aware of their every strength and deficiency, but they must also have a deep understanding of what solutions are available for them, what solutions can still be developed, and how to maximise the value and impact of those solutions.

With the help of industry experts and tech leaders, e27 is launching its webinar entitled “Work Seamlessly”. This project seeks to impart key insights and strategies that can help companies learn more about developing apps that can significantly impact their businesses especially in the age of mobility.

On November 25, Wednesday, at 2 PM SGT, this exclusive event will help companies reshape how they work, recalibrate their systems, and push them further into their digital transformation and mobility journeys.

The Work Seamlessly event is exclusive to e27 community members. Interested to join? RSVP here.

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Photo by Austin Distel on Unsplash

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500 Startups launches Angkor 500 to accelerate the development of Cambodian startups

Global early-stage VC firm 500 Startups announced today that it is launching Angkor 500, a series of programmes to accelerate the development of the Cambodian startup ecosystem.

Partnering with Khmer Enterprise, Angkor 500 will seek to support entrepreneurs in their efforts to establish startups and aid in their regional expansion plans.

Over the course of their initial two-year partnership, the two firms will organise programmes to gather founders from across the kingdom to create startups and host bootcamps to improve the readiness of local startups for engagement with international markets and investors.

Also Read: Is the startup ecosystem in Cambodia ripe for a new era of growth?

Additionally, there will be international showcases to raise the global profile of the Cambodian ecosystem by connecting startups to key industry stakeholders and corporate partners.

Vongsey Vissoth, Minister attached to the Prime Minister and Permanent Secretary of State of the Ministry of Economy and Finance, said that this programme will ignite Cambodia’s vibrant entrepreneurial ecosystem with a broader base of digital enterprises, despite the operational challenges during the COVID-19 pandemic.

“This is one of the implementation plans of the Royal Government of Cambodia as articulated in Rectangular Strategy phase 4 to accelerate a healthy environment for SMEs and innovative startups to become much more competitive when moving to the digital economy,” the minister said.

“With the support of the Ministry of Economy and Finance, Khmer Enterprise and 500 Startups will work together to build featuring programmes from ideation to investment readiness,” said Chhieng Vanmunin, CEO of Khmer Enterprise.

Also Read: Why Clik believes that Cambodia is the best place to pilot a new fintech infrastructure

According to Christine Tsai, CEO and Founding Partner of 500 Startups, “Cambodia’s economy and talent are at an inflexion point for rapid growth, and we are confident that this programme will help local founders build strong companies that will push the boundaries of what is possible.”

Since its inception in 2010, 500 Startups has invested in over 2,400 companies across 77 countries. Its 140-plus team members are located in more than 17 countries to support its global portfolio. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab and Bukalapak.

Image Credit: Photo by Vicky T on Unsplash

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Sleek raises US$4M to help Asian entrepreneurs incorporate businesses digitally

Sleek Co-founder Adrien Barthel 

Singapore-based startup Sleek has secured US$4 million in fresh funding from a clutch of investors, led by SEEDS Capital, the investment arm of Enterprise Singapore.

Other co-investors are MI8 Limited, a Hong-Kong multi-family office, and Pierre Lorinet.

The three-year-old company will use the money to expand into new markets in Asia and further enhance its digital tools.

“With the new funding, we will launch more platform functionalities and new business verticals shortly to enhance the overall customer experience. Ultimately, we envision Sleek to be the go-to digital platform for all entrepreneurs setting up in Singapore, Hong Kong, and beyond,” said Co-founder Julien Labruyere.

Also Read: Why fintechs and banks have a bright future together

Founded by Labruyere and Adrien Barthel, Sleek is a platform that incorporates and manages companies with simple and efficient online tools. Its services include digital incorporation, company secretary, tax filing and accounting services.

“Sleek’s innovative digitally-enabled solutions are well-positioned to disrupt traditional corporate secretarial services, allowing entrepreneurs to spend more time creating value for their companies and customers, and less on administrative back-office tasks,” said Geoffrey Yeo, General Manager of SEEDS Capital.

“We see new opportunities created by the accelerated pace of digitisation of business and processes amidst the pandemic, and are excited to support Sleek in their journey to introduce next-generation corporate and financial services to small and growing enterprises,” Yeo noted.

The firm claims that it currently manages a portfolio of more than 3,000 companies with almost US$10 million in cash Annual Recurring Revenue (ARR). It reached operating financial breakeven a few months ago.

Digital incorporation of companies is a concept that is popular in countries such as Singapore, Hong Kong, New Zealand, Estonia and many more due to their relatively simple, digital and streamlined process for company incorporation.

Also Read: Osome raises US$3M from XA Network, AltaIR to aid SMEs in corporate accounting

Other startups operate in the sector include Lanturn, BlueMeg and Osome.

Image Credit:

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From our community: GitLab’s regional director’s advice for developers, remote worker management and more…

Contributor posts

As the year is wrapping up, reflections on the year gone by are rolling. Our contributors this week discuss remote working norms, hot investment areas in 2021 (read supply chain and HTR tech) and evergreen tips for founders on how to manage the “exit” question.

If you are reflecting on the year gone by, share your opinions and earn a byline by submitting a post. To get inspired, read on!

Founders take note

H​o​w cloud computing is helping startups navigate the new normal by Gaurav Arora, APJ Head of Startup Ecosystem, AWS

“During these challenging times, we are seeing companies of every size, including startups, express their desire to transform more quickly into the cloud as a way of breaking free of the legacy on-premises infrastructure that holds them back from trying new ideas.

According to Daphne Chung, a research director at IDC, the pandemic has underscored the importance of digital transformation across a​l​l industries. Cloud continues to be the underpinning platform for all digital transformation initiatives and has therefore seen an acceleration in demand in the wake of the pandemic.”

Startup founders are responsible for their remote employees. Here’s how to fulfil your duty of care by Yuying Deng, founder and CEO at Esevel

“Nearly 84 per cent of companies expressed an intention to increase their work-from-home capacity even beyond the pandemic.

However, your employees also face a different set of risks when working from home, compared to working from the office.

And under the law here in Singapore, you owe a duty of care towards your remote employees to take all reasonably practical measures to keep them in a safe and healthy work environment.”

What developers need to know about tomorrow’s tech today by Anthony McMahon, GitLab’s regional director

“GitLab’s 2020 Global DevSecOps Survey found that developers are already reporting n​e​w responsibilities – such as tasks normally associated with ops and security – while at the same time releasing software much faster and embracing new technologies including Kubernetes, microservices, and even artificial intelligence (AI).

The adoption of Agile and DevOps processes and practices across the software development life cycle are still somewhat immature. Enterprise leaders in ASEAN are focused on ways to provide faster releases and fixes and create innovative customer experiences.

To achieve the acceleration, they need to address the various dimensions of the changing developer role to stay ahead of the competition.”

Ace your startup game

Startup exits: Stakeholders often prioritise glitzy exits, not the long-term longevity of the firm by tech enthusiast, Jasmine Ng

“The philosophy in the startup mondo is often very “short-termy” with players prioritising huge glitzy exits within a few years, and not the long-term longevity of the firm.

This entire model depends on insiders hyping up the massive growth potential of the startup, and inculcating a fear of missing out (FOMO) mentality to outsiders — the belief that this IPO is the last chance to get in on a meteoric fortune-making scheme.

But this belief is propped up by key myths in the startup world. These myths are like shiny hollow marble pillars that can end up holding up unstable b​u​s​i​n​e​s​s models and rotting insides.”

How to craft a problem statement that VCs will love by Ine Jacobsen, VC at Cocoon Capital

“Fifty per cent of the success of your first pitch is in your problem statement. Why? It sets the tone of the pitch and helps us understand the market size, the need for the solution, and who’s paying.

In this blog post, we shed light first on how founders can avoid the common pitfalls of crafting a problem statement then of course, on what investors look out for in one.

If you’re from a B2B (enterprise) or deep tech startup, this article is for you. For B2C startups, while important, the problem statement is trumped by your vision statement and identifying a need with consumers.

Investing trends

What will the next wave of VC investment in HR tech look like? by Anu Shah of Rocket Internet

“Lack of remote work infrastructure and overnight adjustment to this working style came with its own set of challenges. Businesses worked hard the entire year to la scoperta the right model for continued uncertainty in bringing the workforce back to normalcy.

This dilemma solo has led to a record investment of US$1 billion+ in Q2, which is greater than the 13-quarter average of US$841 million.

HR tech is considered white-hot, because companies operating in talent-constrained environments seek to invest in tools to help them better recruit, develop, and support their workforces. A record amount of capital has gone into AI solutions for talent recruitment.”

Why it is imperative to invest in digitalising the supply chain by supply chain office, Ivan Seow, Trames

“Given the uncertainty surrounding the pandemic, startups in areas such as robotic fulfilment, digital freight forwarding, returns optimisation and predictive inventory forecasting are likely to witness growth.

The pandemic has also brought to the fore the need to diversify supply chains. In the quest for self-reliance and business continuity, multi are on the path to decouple their global supply chains or are re shoring manufacturing to their own countries. However, there are m​a​n​y others who have been left in a quandary, exacerbated by the depth and complexity of their supply chains.”

How will ASEAN fare in the post-pandemic global economy? by Vinnie Lauria, Managing Partner at Golden Gate Ventures

“For any startup, forging and adapting your long-term vision is imperative to drive success. Even for investors and corporates, understanding how this pandemic’s long-term impact is crucial to making their respective managerial and investment decisions.

As part of our three-day Vietnam Venture Summit, we gathered industry veterans to get their take on what’s ahead. The summit’s first panel (video) was moderated by Bruce Delteil, Partner at McKinsey in Vietnam with over two decades of international experience.”

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Ecosystem Roundup: S’pore opens investigation against Muslim Pro app; Sleek, SourceSage secure funding

Singapore investigating claims Muslim app developer sold user data to US military; The app, which tracks prayer times, has clocked 98.5M downloads by users across 200 countries; Recently, the app was reported to have sold granular location data to X-Mode, a US third-party data aggregator that sells its services to customers, which had included US defence contractors. ZDNet

Singapore fintech Sleek raises US$4M led by SEEDS Capital; Sleek provides cloud-based solutions, with AI-driven customer platforms and automation for entrepreneurs’ operating systems; Its services include company incorporation and on-going compliance management, digital accounting, and tax filing in Singapore and Hong Kong. DealStreetAsia

KOL Speak
Investors will shy away from startups that have no exit plans; Kiwis Aliwarga of UMG Idealab says it’s important that all shareholder agreements and data room are properly sorted in advance to ensure proper and responsible data display; The process of listing a company should be considered as a capital strategy to achieve the next business milestone. e27

First LGBT+ digital banking platform launches in US; Daylight, the new platform, said it has developed tools and content to help LGBT+ Americans reach specific financial goals such as saving money for surrogacy or gender transition surgery, and to make banking more inclusive. Malay Mail

Vietnam’s Cricket One seeks a place in the crowded alternative protein market for its cricket-made food products; The 500 Startups-backed startup processes 100M+ crickets a month and has shipped its cricket powder to 15+ countries around the world; In the edible insects market, Thailand, Canada and Europe are dominating. e27

Singapore e-commerce startup SourceSage closes US$2.23M funding; Lead investors are iGlobe Partners and Wavemaker Partners; SourceSage aims to empower enterprises and individuals with their own platforms to start, grow and scale their businesses online; Its platform has engaged more than 7K merchants from over 14 countries. DealStreetAsia

How entrepreneurs can turn their weakness into strength; Some entrepreneurs avoid their weaknesses because for them, it’s easier to pretend they don’t exist, and ignoring them may feel like the fastest, safest bet to make them go away; While this may work in some instances, it can be catastrophic, like not knowing how to manage your finances. e27

How will ASEAN fare in the post-pandemic global economy?; COVID-19’s economic hysteresis may spur ASEAN’s investment in sustainable infrastructure; The post-pandemic age presents a paradigm shift around its digital transformation and political tension between trade and protectionism. e27

500 Startups invests up to US$150K each in 9 Vietnamese firms via Saola Accelerator; The accelerator has hosted three batches, selecting a total of 17 startups that includes a mix of fintech, edtech and e-commerce businesses; Among the startups are Cricket One, Bizzi, CoolMate, TradingFoe. TechInAsia

How to craft a problem statement that VCs will love; As a startup, it’s important to understand who will be paying for your service — that is who your problem statement should be focused on, will the consumers be paying for the service with a fee for everything that they are buying, or will the merchants pay to be onboarded? e27

Malaysia’s MDEC launches DataKITA initiative; DataKITA is preparing the nation for a new world order of data, one driven by disruptive Fourth Industrial Revolution (4IR) technologies that necessitate business openness and digital evolution; Through the initiative, MDEC will collaborate closely with enterprises and stakeholders within the nation’s data economy. Open Gov

All indicators point to shift to digital payments in Philippines, says BSP; Some notable indicators in the country’s population include a high smartphone penetration (64%), high number of SIM users (159%), usage of the Internet (65%), and social media usage (67%); A BSP study in 2015 said only 1% of financial transactions in the country are digital; By 2019 however, the figure has risen ten-fold to 10%. NewsBytes

Digital transformation optimises productivity and reduce costs and time; Based on implementing digital transformation products and solutions for customers in Vietnam and globally, digital transformation could help businesses cut costs by up to 60% and even save up to 90% in time in some processes compared to pre-digitisation. Vietnam News

True Digital Park (TDP) launches new academy; It aims to boost digital skills among members of the public through cooperation with various global tech enterprises; Located in Bangkok’s Phra Khanong district, TDP is operated to serve as a tech and startup hub in ASEAN. Open Gov

Paving the way forward with 5G; Malaysia has set up a national digital infrastructure plan (Jendela) with the aim to equip all residents with access to quality broadband services; Jandela will be implemented in stages from 2021 to 2025 under the 12th Malaysia Plan with the hopes of making the delivery of 5G services a reality by 2022. The Star

Huawei says 5G set to become industry game-changer; Huawei deputy chairman Ken Hu says with Mbps speeds in the hundreds, industries that require real-time data processing and related operations will significantly benefit; It will include healthcare, ports, steel, power grids, mining, and manufacturing industries. NewsBytes

Why tech startups need to understand the importance of investing in insurance; Major types of insurance that are absolutely essential when for a financially secure tech business include Professional Indemnity Insurance, IT Liability Insurance, Cyber Insurance, and Management Liability/Director’s Liability Insurance. Tech Collective

Visa study finds untapped opportunity for smartphone payment terminals in APAC; Its ‘tap to phone’ feature enables sellers to accept Visa contactless payments directly on their own Android NFC-enabled smartphone; Majority (55%) of APAC consumers would likely use tap to phone payments. Myanmar Tech Press

APAC should tap women as engines of growth, says Singapore President; Advancing gender equality mean an extra S$4.5T (12%) of the collective annual GDP; This could also bring in an additional S$26B to Singapore’s annual GDP over the next 10 years. The Straits Times

How 7 industry-led coalition groups are preparing for Singapore’s post-COVID economy; Unlike past efforts, the seven Alliance for Action (AfAs) adopt a “startup” approach, in which they aim to take action and build prototypes quickly, while keeping an eye on opportunities in the longer-term; Some of their projects in the works are growing e-commerce, digitising supply chain, and Building the Little Green Dot. The Straits Times

Microsoft launches dedicated healthtech startup programme in India; India faces an increasing number of healthcare challenges with a lack of infrastructure, uneven doctor to patient ratio, and an increase in demand for healthcare services; The programme is designed to help startups scale with advanced technology and joint go-to-market support. Open Gov

Image Credit: Unsplash

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Startup founders are responsible for their remote employees. Here’s how to fulfil your duty of care

call of duty

As an employer, you stand to benefit as part of your workforce goes remote. Recent studies have shown an increase in employee productivity when teams work from home. 

As you reduce your office real estate footprint, you will also get to enjoy substantial cost-savings. That’s why nearly 84 per cent of companies expressed an intention to increase their work-from-home capacity even beyond the pandemic. 

However, your employees also face a different set of risks when working from home, compared to working from the office.

And under the law here in Singapore, you owe a duty of care towards your remote employees to take all reasonably practical measures to keep them in a safe and healthy work environment.

This duty of care applies whether your employees work in the office or at their homes. And it also applies to companies of all sizes – from startups and small-medium businesses to the largest enterprises.

How am I responsible for my remote employees?

Singapore legislation and common law require you to provide a safe work environment for your employees and not put them in harm’s way.

And note that the term “workplace” isn’t limited to just offices but to any premise where your employees work, including their homes!

The duty of care you owe to your employees includes the following:

  • Conducting risk assessments to identify hazards and implement effective risk controls.
  • Taking reasonable practical measures to make sure that their work environment is safe.
  • Ensuring safety measures are taken for any machinery, equipment, or process used at the workplace.
  • Developing and implementing systems for emergencies.
  • Ensuring your employees are provided with sufficient instruction, training and supervision to work safely.

Failing to carry out this duty of care can result in fines of up to S$500,000 for the first time offenders to S$1 million for repeat offenders.

Also Read: Work from home risks every employer needs to be aware of

How can I fulfill my duty of care in a practical way?

Carrying out your duty of care to your remote employees does not have to be difficult or expensive. We suggest a simple five-step approach.

Step 1: Create a work from home policy

Even if you have only a few employees working from home, this is the first step you should take. A thoughtfully drafted work from home policy will help to align your company’s expectations to your employees’ responsibilities.

And more importantly, it also helps to prevent disputes if anything happens when working from home. An effective work from home policy should include the following:

  • Your policy brief and purpose
  • Who’s eligible to work from home 
  • What the approval process like like 
  • What’s the frequency employees can work from home 
  • How are employees expected to communicate with onsite staff 
  • Is there an expected response time 
  • What are their productivity measures and markets 
  • Will the company provide or subsidise work from home setups 
  • What equipment and tech support can employees expect
  • The dress code 
  • What remote work locations are available
  • Channels for feedback 

Here is a template you can use to get started. 

Step 2: Review your employment contract template

We recommend reviewing your template employment contract and making changes, if necessary. Singapore labour law requires the employment contract to mention the employee’s place of work.

So if your company allows employees to work permanently or partially from home, you should also mention this inside the employment contract.

Also Read: Why remote working is the future for startups 

Step 3: Conduct risk assessments at the workplace

Workplace risk assessment is an integral part of health and safety at the workplace.

A proper risk assessment helps both you and your employee to identify potential hazards that could potentially cause harm to your employee. 

Once you’ve identified the risks, you can then evaluate it, find appropriate measures to control it and communicate this to your employees.

Often overlooked areas of potential risks when employees work from home include:

  • Poorly set up workstations that can cause postural issues 

  • Wires, cables, rugs or mats that are a trip hazard 

  • Overloaded power strips that pose a fire risk


You can conduct a risk assessment in two ways.

The gold standard, which is expensive and time-consuming, is to have an in-person or virtual assessment done by a professional who is trained in workplace safety and/or ergonomics.

An alternative cost-effective method is to have your employees fill in a self-assessment checklist with photo submissions of their home workspace and receive workplace safety training.

Step 4: Evaluate and fill in the gaps revealed by the risk assessment

A properly designed self-assessment checklist and photos should allow you to assess whether there are potential risks or hazards at your employee’s home workplace.

If the gap exists, you should proceed to advise your employee to remedy the issues and train employees on how they can work safely.

For instance, this photo reveals that the employee is working from his bed and on an ironing board. 

This should immediately raise a red flag – employers can then choose to provide a proper work desk and chair or a stipend to purchase one, according to the remote work policy. 

Do note that while it is your employee’s responsibility to comply with your policy, it’s also your responsibility to ensure that these policies are clearly communicated to them.

Step 5: Ensure you are sufficiently covered for work-from-home related liabilities

If your existing business insurance doesn’t cover liabilities when employees work from home, it’s worth considering adding insurance to protect you and your employees in case of any work from home mishaps.

These insurance could include:

  • Specialised work-from-home insurance This covers work-related injuries more likely to happen at home, such as ergonomic injuries, mental health support and accidents (trips and falls).

  • Cyber insurance This covers any losses from cyberattacks which have increased due to more people working from home. 

  • Property insurancee This covers damages to the company’s assets outside of the office premises and includes monitors, laptops, phones, chairs, etc.

  • Employer or D&O liability insurance This covers the employers for any claims made by the employees, for instance, relating to health and safety injury claims

At the end of the day, other than it being a legal requirement, showing your employees that you care is also good for business. 

It helps to increase employee retention, improve their productivity and increase their engagement levels.

To learn more about how to keep your employees safe and avoid legal liabilities, join our webinar with Esevel founder, Yuying Deng.

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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What will the next wave of VC investment in HR tech look like?

HR tech

2020 has taken a huge toll on the workforce. In the USA, at the beginning of the pandemic, more than 20m lost jobs, though the numbers started looking better post-July, and employment is on an upward trajectory at present. Though the ones in jobs didn’t have an easy time, either.

Lack of remote work infrastructure and overnight adjustment to this working style came with its own set of challenges. Businesses worked hard the entire year to find the right model for continued uncertainty in bringing the workforce back to normalcy.

This dilemma alone has led to a record investment of US$1 billion+ in Q2, which is greater than the 13-quarter average of US$841 million.  

HR tech is considered white-hot, because companies operating in talent-constrained environments seek to invest in tools to help them better recruit, develop, and support their workforces. A record amount of capital has gone into AI solutions for talent recruitment.

However, the pandemic has shifted the quest to find solutions in the other overlooked areas of HR that require urgent attention and breakthrough solutions. It is hence safe to say that the next wave of investment in the HR space will likely be focused on the solutions in the areas listed below.

Self service technologies

The post-pandemic era will see a rise in the demand for employee self-service (ESS) and manager self-service (MSS) tools to make HR information more accessible.

Historically, ESS and MSS tools being purchased are seldom fully rolled out to the organisation. Mainly because organisations perceive this as putting too much burden on managers to accomplish tasks. The MSS tools were generally shelved and instead, a shared-services centre with HR administrative services was made available to the line managers.

Also Read: In October, logistics tech startups continued to gain investors’ attention as the world struggled through a pandemic

This approach is obsolete now and will not work well with the remote working era in the foreseeable future. The industry will be vying for interactive self-service tools in the area of on boarding, performance monitoring, and employee training and development.

The industry is yet to be disrupted by a comprehensive technology that will take away a lot of manual, repetitive tasks from the administrator’s hand.

Human capital management solutions

Although the majority of organisations have flat organisational structures and teams, much human capital management (HCM) solutions haven’t been built to support those structures. Post pandemic, the future of work lies in flat working structures that unlock the potential of dynamic teams.

As business strategies and teams grow more agile to keep pace with recurring change in companies, HR technology must adapt as well, including providing employees with more user-friendly and efficient experiences. The industry will see a rise in the demand for HCM solutions to deliver improved levels of system uptime and scalability.

For instance, a rise in remote working and gig working will lead to changing needs for remuneration cycles. HCM solutions with a more personalised, easier payment methodology will be of interest to many. 

Work redesign

Historically, companies have mitigated skill imbalances by redeploying staff continuously across teams, unbundling job roles into specific competencies by training and development modules.

Organisations are focused on redesigning jobs as one alternative to thwart the recruit from a shrinking supply of “purple unicorn” candidates in the job market. Investment in the skill set enhancement of the active employee will be top on their agenda.

In the remote work era, organisations will be looking for solutions that are leveraging technological systems and tools to reduce in-person dependencies and creating a virtual learning environment. 

Also Read: Propseller raises US$1.2M in seed funding to ease property sales through a combination of tech, property agents

Data privacy

The expectation of employees today is that internally they’ll be treated more like customers, and that includes how their personal data is handled. Many expect more transparency and control over their data.

To a certain extent, it’s up to HR to ensure that the policies and technology systems being used will provide the right level of transparency, as well as the right level of protection for employee data.

As more data-privacy laws are enacted to join the likes of the General Data Protection Regulation and the California Consumer Privacy Act, HR leaders, and technology solutions will play a growing role in helping to strike the right balance to win employees trust.

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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