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Google SEA’s MD on why women should be confident, speak up and contribute

Stephanie Davis

Five continents. Several roles. One company– Stephanie Davis has an illustrious career trajectory.

As Google’s Managing Director for Southeast Asia, she is currently responsible for business strategy and operations. As she moves from operational design to financial services and insurance sector, to publisher partnerships; Davis amassed a wealth of professional and management knowledge.

It is a widely known fact that the percentage of women shrinks as we go up the corporate ladder. From an entry-level executive to leadership, Davis has come a long way since she joined Google in 2006.

So we sat down with her to understand what enabled a non-techie’s career in a tech company and if being a woman in a corporate world was a boon or a blessing.

What has your career journey been like? Are any key challenges and learnings from their experience climbing the corporate ladder?

I would describe my experience as varied. There has been some luck along the way. I started out as an analyst, joined the news industry and then the tech industry– all with Google. I almost can’t believe it myself that I have been at Google for 13 years now. When I reflect on it, I feel like I have five different careers, since I have moved across roles and also continents. Along the way, I learnt that its great to be open to opportunities, to take creative risks and importantly chase butterflies. Do things that make you learn, stretch, and grow.

Did you face any challenges as a woman in the corporate world?

I have been fortunate that I was supported by incredible people in my career. But that’s not to say I didn’t face challenges. I was part of many leadership teams that were male-dominated. I had encounters where I did the analysis and presentation but the questions went to my male colleagues.

Also Read: Afternoon News Roundup: Japanese edutech startup Manabie eyes SEA expansion, Google partners Filipino AI company Senti

I remember, when we worked with a Hollywood actress on a project to deploy ML to analyse films, she said that there is no evil plot (against women) but there was bias– unconscious bias.

When there is a lack of diversity in the meeting room, these biases creep in. But thanks to one of the most successful programmes at Google to address these kinds of unconscious biases; we are able to become better leaders. It’s actually the most attended programme on a voluntary basis.

What would be your top tips for women starting their careers in technology/business today?

Write your story.

This came to light when a friend and colleague was interviewing for a director role. She chose to write a letter to the president of the company to tell him about what her team had achieved under her leadership. And I think that is such a powerful way of invoking self-confidence.

We can write letters to ourselves, or even to the women on our team or even our children about our goals. This open letter to ourselves can also work as a checking guide.

Stay put.

We need to move; we have to move to make our careers successful. But what I think happens sometimes, is that we are so focussed on what should we do next, we fail to take the time to learn and absorb everything we can learn in the current role.

And more often fail to develop a track record. So keep your eyes open but stay grounded.

Be wary of success.

It’s about the forward-looking view. As McKinsey says, most leadership programmes fail because of a lack of context. And this is the context we should be chasing. Be familiar with it and be willing to change if needed. It’s necessary to keep reflecting every now and then and orient ourselves closer to our goals if we may have strayed.

Also Read: Meet the VC: Stephanie Strunk of Amadeus Ventures on why women should support women

Is the tech industry nearly there yet when it comes to female leadership and representation, or is there still a glass ceiling?

We are not there in terms of equality. But I don’t think there is a glass ceiling either since there is progress. But that is not enough. Everyone needs to come together to address this- both men and women. Systematic change can be sustainable change.

Data can power this change, as we did with the Google Transparency report– it reports the percentage of women right from hiring to leadership to help us stay on track of our mission to make the organisation more equitable. It’s important for this change to take place at the leadership level and they need to be held accountable to achieve this.

I also think a lot of this equality has to be triggered when we are children. Young boys and girls need to be educated to embrace this thought for a big shift in our thinking.

What kind of practices can organisations in the tech startup world adopt to enhance inclusivity?

It is true that not all organisations can devote resources to enhance inclusivity. For example, I Am Remarkable– is a small programme we run at Google and it is centred around empowerment for women, and to break the imposter syndrome that many of us unconsciously sometimes harbour.

But tt doesn’t always have to be a fully built and well-funded programme, sometimes it is just these small things like getting women to talk to each other, share a community spirit, whilst also bringing men into these conversations.

Mentorships, or train the trainer, kinds of programmes help women recognise their voice and create a safe space for them. Sometimes, women are not as vocal about their needs as their male colleagues.

What can we do as a community to ensure more equal opportunity in the future?

Harnessing technology and the power of the internet can empower women. While the internet has become more affordable, it is not yet equitable. When it comes to SEA;  access, privacy and safety, agency constraints hinder their use of this resource.

For example, men being on their mobile device a lot during the day are seen differently as women on a mobile device. Then there is safety; women don’t share profile pictures.

Moreover, women in SEA don’t have the time as they have additional domestic responsibility. So as a community, we need to change this. Tech can be used to empower communities and not just companies.

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Image Credit: Google

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News Roundup: Korean trade body KITA recruits startups to testbed Indonesia via shopping mall

Korea International Trade Association recruits startups to testbed Indonesia market via shopping mall

The Korea International Trade Association (KITA) is reportedly recruiting companies to join the “Lotte Mart Testbed” in Jakarta, the first overseas testbed project for Korean startups looking to expand overseas.

According to Business Korea, the selected startups will be able to apply their technologies at Lotte Mart in Jakarta with the goals to “maximise customer shopping convenience, increase sales marketing effectiveness, and reduce facility operation costs”.

KITA also noted that there will be opportunities for the startups to verify products, services, and technologies for two months, and on-site meetings with local venture capital (VC) investors.

KITA plans to expand the “Startup Overseas Testbed” programme to landmark facilities in Europe, including Spain and Luxembourg, in the second half of this year.

Vietnam joins hands with VABIOTECH, Bristol University for COVID-19 vaccine tests

Vietnam is working alongside the UK’s Bristol University to test a potential coronavirus vaccine on mice at a laboratory in Khanh Hoa Province in central Vietnam, as reported by VNExpress.

The test will be conducted for two weeks before further evaluation and will be tested further in animals for safety and effectiveness before a manufacturing process is embarked on.

Also Read: How gamification is increasing productivity during COVID-19

Dr. Do Tuan Dat, President of the Company for Vaccine and Biological Production No.1 (VABIOTECH) in Hanoi said that the vaccine was developed after scientists successfully generated the novel coronavirus antigen in the lab. For vaccine production, antigen units are the most important ingredient that helps the body process antigens.

After testing the VABIOTECH vaccine in mice for two weeks, the scientists will conduct blood tests on the animal and send samples to the National Institute of Hygiene and Epidemiology.

According to the institute, it will take at least 12-18 months to develop the vaccine that can work safely on humans.

Serba Dinamik, MTDC partners for digital startup ecosystem development in Malaysia

Serba Dinamik Group has signed an MoU with the Malaysian Technology Development Corporation (MTDC) to foster the growth of the digital startup ecosystem in Malaysia by “providing guidance and mentoring to budding entrepreneurs for innovative transformation”, as reported by The Star.

Both parties said that the partnership seeks to assist the new-age technology startups in the country by focussing on areas such as Artificial Intelligence, 5G, Big Data, cybersecurity, blockchain, Internet of Things, and machine learning.

The parties also announced a US$1.4 million Innovative Transformation Seed Fund that will encourage new startups involved in digital or business innovation to commercialise their ideas via a clear business model.

MTDC CEO Norhalim Yunus said: “We will also design and develop programmes, including training, knowledge-sharing, developmental programmes and other programmes of similar nature that will benefit the cooperation besides providing knowledge transfer and expertise for the development of technology transfer, commercialisation, and entrepreneurship.”

Fintech platform Nium raises funding from Visa

Remittance platform Nium announced its latest fundraise today by Visa, with participation from existing investors and new investors such as BRI Ventures, the corporate venture arm of Bank BRI of Indonesia.

Also Read: BRI, Visa join remittance firm Nium’s Series C round to facilitate tuck-in acquisitions

Nium said it will use the funds to further build out its diversified payment infrastructure offering that includes outreach to consumers, SMEs, large enterprises as well as banks and financial institutions, product development, and tuck-in acquisitions that compress time to market.

Just before the funding announcement, the company has made news for two wins, one for the account of a large European marketplace payment provider to process a billion Euros annually, and the other for a large international bid for one of the world’s biggest maritime businesses to process crew payments via cards and collections for vessel management.

The company also has been working with a prominent Asian Neobank to help them expand overseas by providing international collections.

As part of their own consumer and SME remittance offering (InstaReM) and remittance- capabilities, Nium has reached millions of customers across 10 licensed jurisdictions through a fully micro-service driven model and offering services such as payroll disbursement to travel and expenses management.

Photo by Al ghazali on Unsplash

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Afternoon News Roundup: Cash-strapped e-commerce firm Leflair files for bankruptcy in Vietnam

Vietnam’s e-commerce startup Leflair declares bankruptcy after facing capital crunch

Leflair, a premium e-commerce platform in Vietnam, has filed for bankruptcy,  according to DealstreetAsia.

The startup owes about US$2 million to 500 partners, according to several reports.

In February this year, Leflair, which deals in premium products, had  announced its decision to cease the local operations due to the fierce competition in the market.

In a latter to merchants, it had said said: “The changes in the investment landscape for startups have made Leflair’s current business strategy difficult to pursue. Under the capital crunch and requirements to cut costs, we had to make the tough decision to cease our operations in Vietnam.”

The company has revealed that it had suspended local operations due to “changes in the investment landscape for startups which caused operational inefficiencies”.

In 2018, the startup had raised US$7 million from private equity firm Belt Road Capital Management and South Korean retailer GS Shop in 2018.

Uber considers laying off up to 700 employees in India

Ride-hailing giant Uber is expected to lay off roughly 500 to 700 of its employees in India, according to TechInAsia.

This speculation comes in as many companies are forced to take harsh measures due to the ongoing pandemic, which has hit the region’s economy with a deathblow.

Also Read: Google SEAs MD on why women should be confident, speak up and contribute

In a recent article by The Report, CEO Dara Khosrowshahi cautioned its employees about the harsh measures Uber might take to ensure survival.

“Hope is not a strategy. We’re not going to avoid hard decisions,” he said.

Uber will most likely confirm the news and announce the layoffs when the lockdown is lifted, one of the sources close to the matter said.

Image Credit:  Benedikt Geyer

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10 sustainability-focussed startups to present in HyperSpark’s virtual Demo Day

HyperSpark, an early-stage, sustainability-focussed startup programme in Asia, will hold its Demo Day on Wednesday (May 6).

The virtual Demo Day will feature 10 companies in the first cohort of its 10-week-long pre-accelerator programme. The cohort includes a company working on zero-waste organic toothpaste, a tech-enabled hiring platform that cuts out the middleman for migrant workers, and a social learning platform for kids.

These startups will share real stories about their challenges and commitment to tackling global sustainability issues.

Also Read: HyperHack, world’s first sustainability hackcelerator, to launch in Singapore

HyperSpark is a part of HyperX, the global hackcelerator programme launched by StartupX and Temasek, to propel innovative solutions that can help shape a better, smarter, and more sustainable world. It aims to provide a platform for startups to get support, mentorship, resources, and funding regardless of the stage they are at.

The programme pivoted to an online format midway through, as the teams adjusted to the circuit breaker measures that were introduced in early April.

Over the course of ten weeks, the HyperSpark teams worked with mentors and coaches on various aspects of their business, building up their product and acquiring their first users and customers.

Each team was also provided with a US$10,000 grant to support them in their product development and user adoption to define their product-market fit and gain traction.

StartupX’s CEO Durwin Ho said that the first cohort of HyperSpark shows that there is still much work to be done to help sustainability-focused startups grow in Asia’s ecosystem.

“We have seen so much potential in the first cohort. These companies are working to improve education, achieve zero-waste in different industries, and provide greater access to underserved communities, to name a few. But 2030 timeline to achieve sustainable development goals is looming and more needs to be done to support founders and innovators in this space,” he added.

Photo by NeONBRAND on Unsplash

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Why the e27 Ecosystem Roundup is everything you need to stay up to date

e27 ecosystem roundup

We know that being a startup founder and staying on top of things can be a very difficult job. Our goal is to make the experience so much easier for you.

On top of running companies toward optimum business growth, startup founders also have to deal with the overwhelming number of news and information being broadcasted every day. News and information are imperative for the modern-day tech entrepreneur to stay ahead and keep up to date with things concerning the ecosystem. Information about our community ultimately helps founders become better decision-makers.

As such, one of the most important features of e27 Pro is the e27 Ecosystem Roundup: an exclusive bi-weekly subscription that features relevant, curated, and actionable news and insights geared for business success.

The e27 Ecosystem Roundup is a comprehensive archive that covers everything from the latest news to insights on current trends. What makes it exciting is that we put together everything you need to know from over 50 reputable news sites in one email, twice weekly.

With the help of this feature, startup founders no longer have to sift through piles upon piles of new information every day. The e27 Ecosystem Roundup already does that job for you, and more. With everything you need to know about tech and startups in one email, startup founders can focus on running their businesses and still remain updated with the latest news and trends.

Also Read: Going big? Then Go e27 Pro.

The e27 Ecosystem Roundup is only one of the many key features that come with a Pro membership. By signing up for Pro, you can enjoy a slew of exciting things including access to e27’s investor database, the chance to be featured on our Fundraising widgets, and the power to get in touch with your dream investors through e27 Connect.

Staying true to its name, an e27 Pro membership means taking your company to a more professional level, all while supporting your company and the vibrant startup community that we all operate in.

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Indonesia’s B2B FMCG marketplace GudangAda raises US$25.4M Series A to launch new initiatives

GudangAda, an online B2B marketplace for fast-moving consumer goods (FMCG), has raised US$25.4 million in Series A funding round, led by Sequoia India and Alpha JWC.

Existing investor Wavemaker Partners also joined.

This round brings the company’s total fundraise to date to US$36 million.

Also Read: Indonesian B2B marketplace for FMCG gudangada secures seed funding led by Alpha JWC, Wavemaker

The Jakarta-headquartered company said in a statement that it will use the money to enhance its platform, launch new initiatives, and strengthen the team.

Started just over a year ago, GudangAda connects small mom-and-pop retailers with wholesalers. The platform empowers the FMCG supply chain by bridging a technology gap, enabling traders to become both a seller and buyer in conducting multiple transactions concurrently. This way, business are able to sell products at cheaper rates and expand their reach.

The company claims to have a full market coverage of FMCG wholesalers in Indonesia, and it is now targeting seven to ten per cent of the nation’s large retailer base for their next phase of growth.

The limited physical interactions due to the COVID-19 pandemic are pushing wholesalers and retailers to adopt digital solutions putting the FMCG market in Indonesia in a challenging position.

With the rising awareness around the importance of social distancing, GudangAda has also launched several initiatives, including a pilot logistics service to help the merchant network maintain the availability of essential products in the local supply chain.

Also Read: Challenging existing fundamentals in logistics and supply chain

This service is currently available in Greater Jakarta, Bandung, Semarang, Medan, and Lampung, while the company has expansion plans to cover major cities nationwide within the next few months.

The company is also working on distributing government assistance to remote and secluded areas by leveraging its nationwide reach within the nation’s FMCG supply chain during the social restrictions. It also launched food donation programmes across the country for underprivileged local citizens.

Previously, GudangAda raised US$10.5 million in a seed funding round co-led by Alpha JWC Ventures and Wavemaker Partners, with participation from Pavilion Capital.

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Singapore’s biotech firm RWDC bags US$133M to create a plastic-free world

Single-use plastic continues to be a grave threat to the planet.

Researches are going on across the world to develop an environmentally-friendly alternative to plastic and several innovators have already made a breakthrough.

Singapore-based RWDC Industries is one such company that has developed a biodegradable version for single-use plastic. The biotech startup has just bagged a massive financing for its work.

RWDC closed a US$133 million “two-stage” Series B funding round, co-led by Vickers Venture Partners, Flint Hills Resources, CPV/CAP Pensionskasse Coop, and International SA.

Also participated in the round are existing investors, including Eversource Retirement Plan Master Trust and and cross-border VC investor WI Harper Group.

This comes exactly a year after RWDC raised US$22 million in a Series A round, led Vickers and US-based Eversource Retirement Plan Master Trust.

Established in 2015 by Roland Wee and Daniel Carraway, RWDC develops innovative and cost-effective biopolymer material solutions, including polyhydroxyalkanoates (PHAs).

Also Read: Financial products comparison firm GoBear acquires lending platform AsiaKredit to build regional reach

PHA is naturally produced by microbial fermentation of plant-based oils or sugars and is commercially viable biodegradable bioplastic. PHA will help to improve the climate, with less GHG emissions. It will also improve human health and the health of our ecosystems, with no endocrine disrupting chemicals and no harmful micro-plastic waste.

Expanding to Athens

RWDC will use the funding to meet growing demand for PHA, including by expanding the company’s production capacity with a new facility in Athens, Georgia. A portion of the capital will also go into R&D.

“This investment will help us significantly increase our production capacity so that we can meet needs of brand owners who want to improve the lives of their customers by offering materials that have a positive effect on human health while improving environmental stewardship,” said Carraway.

Produced primarily from used cooking oil, PHA is certified by TÜV AUSTRIA to be fully biodegradable in soil, water, and marine conditions – leaving no toxic residue.

In 2018, RWDC’s proposal to use PHA to start replacing single-use plastics won the inaugural Liveability Challenge, presented by Temasek Foundation.

The biotech company will accelerate plans to meet increasing demand for materials to replace plastics for food service, food packaging, consumer goods packaging and other consumer items.

Vickers Venture Partners is a global early-stage VC firm investing in lifesciences, technology, media, telecom, consumer and financial services. In March 2020, Vickers received commitments of over US$200 million for its fifth fund worth US$500 million.

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Image Credit: RWDC

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Afternoon News Roundup: Vietnam’s fresh food-to-table platform FoodHub raises seed funding

Vietnam’s fresh farm food-to-table platform FoodHub raises seed funding

FoodHub, a startup that home-delivers fresh farm food in Vietnam, said today it has raised “up to hundreds of thousands of USD” in seed round of funding.

ThinkZone Accelerator, which has previously invested in the startup, acted as  a funding connector and consultant in the current round. It is not clear if ThinkZone has also joined the new round.

When contacted, FoodHub declined to share the details of the investors and  transaction.

The funds will be used to scale FoodHub’s business with a focus on Vietnam’s Northern market and to further promote its supply chain growth. 

“After validating FoodHub’s product fit, it is time for us to accelerate and scale up. And we have been fortunate to meet a very suitable strategic investor, with not only a supplement of financial resources but also many other core competencies. The two parties have agreed on a roadmap to cover Vietnam’s Northern market right this year,” said Vinh Nguyen, Founder of FoodHub.

Launched in 2019, the startup aims to help customers buy fresh farm food via a mobile app easily and quickly. 

According to the company, organic food market has been wholly neglected by the Vietnamese e-commerce platforms because of its distinctive characteristics, such as short shelf-life, complex packaging standards, difficulties for storage and non-uniformity in quality. 

However, FoodHub claims to have grown its customer size more than three times since launch, primarily during COVID-19. 

Beenext leads US$13.3M Series B  in logistics startup Loadshare

India-based B2B logistics-tech firm Loadshare has raised US$13.3M from Singaporean venture capital fund Beenext, according to VCCircle.

The Series B funding round saw additional participation from Matrix Partners, Stellaris Venture Partners, and Alteria Capital.

The new round of investment will be used to expand its network and enter sectors such as pharmaceuticals, fast-moving consumer goods and grocery for delivery of essentials.

Also Read: Morning News Roundup: Cashlez becomes the first Indonesian fintech firm to debut on country’s Stock Exchange, plans to raise US$5.8M

Founded in 2017, Loadshare offers technology-based solutions for small to medium business owners in logistics, including access to customers, guidance on business development, branding and operational know-how.

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India’s e-commerce giant Flipkart names new CFO

India’s e-commerce giant Flipkart has confirmed Sriram Venkataraman as its new chief financial officer (CFO), according to The Economic Times.

In his new role, Venkataraman will be responsible for key finance operations and functions at Flipkart and Myntra, including tax, risk management and treasury.

Emily McNeal, who preceded Venkataraman, has decided to return to the US to pursue a career opportunity outside the Walmart Group, according to a statement.

“Sriram has consistently demonstrated his expertise managing several diverse functions at Flipkart and is well poised to take on the responsibilities as Flipkart Commerce CFO. We thank Emily for her leadership and guidance in strengthening the governance process and financial reporting at Flipkart post the Walmart investment,” said Flipkart Group CEO Kalyan Krishnamurthy.

Image Credit: Blair Fraser, Beenext

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Morning News Roundup: Temasek invests in Pivot Bio, GoBear co-founder joins Standard Chartered

Temasek co-lead US$100M investment in US biotech startup Pivot Bio

Temasek and Breakthrough Energy Ventures have co-lead a US$100 million Series C funding round in US-based biotech fertiliser startup Pivot Bio, Dealstreet Asia reported.

The funding round also included the participation of DCVC, Prelude Ventures, Spruce Capital Partners, Codon Capital, Bunge Ventures, Continental Grain Co., Tekfen Ventures and Pavilion Capital. It also included individual investors Alan Cohen and Roger Underwood.

The startup said in a statement that the funding is meant to scale its microbial nitrogen technology which aims to increase crop yields while reducing greenhouse gas emissions and pollution.

GoBear co-founder joins Standard Chartered

Standard Chartered today announced the appointment of Marnix Zwart as Global Head, Partnerships of its Retail Banking division, effective immediately.

Zwart is known as the co-founder of financial comparison site GoBear in which he had held the position of Chief Commercial Officer. He was previously Chief Product Officer and co-founder of Kroodle in the Netherlands.

Zwart will be based in Singapore and reports to Aalishaan Zaidi, Global Head, Client Experience, Channels and Digital Banking.

Also Read: News Roundup: Novade raises Series B funding; Temasek JV invests in UK startup

Tokopedia probes alleged user data leaks

Indonesian e-commerce giant Tokopedia announced that it is investigating the attempted hack and data breach of its users, a spokesperson told The Straits Times on Saturday.

The statement followed the publication of a Twitter post on Saturday by data breach monitoring firm Under the Breach that shows screenshots from an unnamed individual who claimed that he had acquired personal details of Tokopedia users through a hack in March.

Survey: Remote learning in Indonesia hampered by lack of student-teacher engagement

In a recent survey, the Indonesian Child Protection Commission (KPAI) revealed that students in the country have complained about a lack of engagement from their teachers after classes were forced migrate online as a result of the COVID-19 pandemic, The Jakarta Post reported.

Conducted between April 13 and 21 with 1,700 students and 602 teachers in 54 cities and regencies involved, the survey results stated that 79 per cent of students reported little to no interaction with their teachers in the virtual classrooms. They explained further that the teachers only used the platform to assign homework.

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