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For e27 Luminaries, we are looking for companies that fulfill the following criteria


In the past month, we at e27 have been diligently looking through past coverages of the Southeast Asian tech startup ecosystem.

We were on the lookout for companies that, at the peak of the COVID-19 pandemic in the region, have managed to go beyond surviving the day. Not only that these companies keep their business running, but they also got to make notable achievements in 2020.

Behind every great company, in addition to its founders and investors, is an amazing individual whose ideas and leadership have contributed greatly to its success. These individuals are the e27 Luminaries — and our mission is to find and put the spotlight on them.

In the past week, we have started reaching out to these companies to inform them about their nomination to the initiative. Companies that have been chosen will get to pick the individual who will represent it in the e27 Luminaries list once it is published.

You might wonder if your company is the lucky one; you might also wonder about the factors that we are considering when selecting these companies. So, we are laying down the details:

In general, companies in the e27 Luminaries list are being divided into these five main categories:

Pivots

Companies that redirected their business during the pandemic and comes out stronger than before.

Funding and Acquisitions

Companies that continue to gain investors’ trust during the most challenging of times.

Also Read: Year of the e27 Luminaries: A celebration of the unsung heroes of the SEA startup ecosystem

Partnership

By teaming up with fellow industry players, these companies are moving the ecosystem forward.

Expansion

The pandemic did not stop these companies from exploring and foraying into new markets.

Breakthrough

The odds may not be in their favour, but these companies persevere and secure their places in the tech startup ecosystem.

For each category, we are listing down companies that have fulfilled the basic criteria of being based in Asia and having quality products or services in the market. They also need to have a good reputation in the media (No scandals, please!) and an updated profile in the e27 Startup Database.

They will also need to answer the following criteria satisfyingly:

– Have they raised significant external funding? Or if they are bootstrapping, do they have a healthy financial condition?
– Have they been covered by e27 or other reputable media?
– Do they have a strong social media presence?
– Are they available in other markets, or looking forward to?
– Last but not least, do they have a diverse team in terms of race, gender, nationality, ability, and sexuality?

Those are the elements that make up the e27 Luminaries.

As we near the end of March, we are getting closer to the celebration of unsung heroes of the Southeast Asian tech startup ecosystem.

Looking forward to seeing you there.

The post For e27 Luminaries, we are looking for companies that fulfill the following criteria appeared first on e27.

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Branding lessons from a first-time startup employee caught up in a pandemic

branding lessons

Like so many others in the months leading up to the pandemic, I had just joined a new company and was super excited to get started in my new role overseeing marketing and brand for a young ambitious start-up. I came from senior roles at the Financial Times, where I had been based in London and New York, as well as South China Morning Post, where I worked out of Hong Kong.

Now, I was joining a Singapore-headquartered company that had operations across Asia, primarily in Southeast Asia, but also in China and India. Entering the startup world was relatively novel to me, but I knew the company I was joining (Advance Intelligence Group) would offer entirely new challenges and growth opportunities.

Shortly after, having been in the new role for less than six months and starting to hit my stride, COVID-19 hit …

Now, over one year on, I can see the whole period with 20/20 hindsight and there are some takeaways for marketers and brand chiefs, but also startups in general, that I would like to share.

With the global pandemic forcing almost every economy into lockdown, operational resiliency and brand communications became paramount. This was true both internally (for employees and inventors) and externally (for partners, customers, and the wider market).

Brand-level responses to customers in a crisis

As we climb out of the pandemic and put the worst months behind us, it’s becoming even more important for brands to build a strong and lasting emotional connection with consumers – beyond just its product offerings. 

Let me give you an example of how we approached this last year, in what were arguably the darkest days of COVID-19 for many. At Atome, our buy now pay later (BNPL) consumer brand where I spend much of my time and energy, we spent not hours, days, or even weeks, but three months speaking with dozens of customers in in-depth interviews and focus groups.

Why? Because we saw the pressing need to deeply understand their changing needs and preferences as the world was changing around us. 

This turned out to be a key turning point for the Atome brand, and provided valuable insights in terms of how our customers thought about spending, money management, lifestyle, and much more. 

Also Read: Why Absolute Pricing Authority and Costco branding concept are good for emerging markets

From a brand and marketing perspective, the result was a new ‘Triple A’ brand pillar around Aspiration, Access, and Advice that we introduced at the core of the business.

In addition to this, we underwent a complete brand refresh at Atome when many other businesses were still trying to pull themselves above the waterline.

Of course, a large part of our business is B2B, serving enterprises rather than individual consumers.

As such, it was important to also think about branding and marketing lessons from a B2B perspective over the past 12 months. Arguably it’s even more important for B2B businesses to make an effort for their customers and clients to feel the people behind the product.

During the pandemic, we made great efforts in this part of our business to better communicate how we were serving our B2B customers amid all the challenges. As well as this, we spent a lot of time thinking about how we as an enterprise business actually shared many of the same concerns as our customers – and how we could therefore explore solutions to address those issues.

This brings me to the next important brand decision we made: proactively listening to feedback and responding to requests and questions in a timely manner – day in day out through the pandemic.

As much as possible, but especially during a crisis, brands must reduce friction and hassle for customers while creating innovative features that improve their experience and delight. 

This leads to what I call the ‘brand promise’ – delivering on the product or service as marketed – being experienced by the end-user as consistent across touchpoints (mobile, desktop, online, offline, etc.).

A good brand takes care of its employees

I’d like to now move on from the past and look more to our future in terms of where we’re heading as a company and brand, going from a regional startup to a global operation.

As of the time of writing, Advance Intelligence Group (under which we have brands like Atome, e-commerce platform Genie, and enterprise AI company ADVANCE.AI) is looking at expanding into the UK and Europe.

Also Read: 5 marital lessons that apply to every startup

Having come out of the pandemic stronger than when we went in, it is now exciting for us to look ahead to new global challenges. But, of course, there are still areas we have to be diligent about and pay close attention to.

As with any start-up that is rapidly expanding, it’s so important to maintain a cohesive and positive company culture. While in much of the article I’ve talked about our customers and our brand from an outside-in perspective, I want to finish by really hitting home the importance of brand power to a company’s own internal stakeholders – namely its employees.

Exercises such as Town Halls, Feedback Days, and ‘In Conversation With’ sessions have helped us build effective top-down and bottom-up communications throughout the brand over the past year, and these are initiatives we will continue going forward.

In addition, we have implemented various morale-boosting activities to address the challenges and constraints of COVID-19, even as many of our people are working from home. 

For example, it was so rewarding for me to run a four-week campaign titled ‘For a Better Me’ to celebrate the company’s fourth Anniversary, as well as hosting New Year parties, which really brought all our employees closer together. 

These events, which resulted in a company culture that everyone felt part of (even as we operate across 10 markets), were participated in by almost 1,000 of our 2,000 employees across the company.

I passionately believe that without strong women in leadership roles, most companies would not have been as successful as a brand during and coming out of the pandemic. It’s my hope that other business leaders reading this will take note and make changes accordingly, if they haven’t already done so.

Diversity in workplace builds brand resilience

Throughout this pandemic, I’ve discovered that a moment of crisis actually provided an opportunity for me as a woman, and my female colleagues around me, to help the company’s brand shine through the chaos.

I’d like to highlight that, despite all the progress of the industry over recent years, there still remains a great need for more diversity in the tech space.

Also Read: Three lessons from building a fintech startup that is 80 per cent women

This absolutely includes the need for more women in senior leadership roles, including on the branding and marketing side. With more women in the workplace, tech companies can generate more innovation, growth, and revenue. 

Moreover, women are often able to leverage resiliency, empathy, and strong communication skills to improve collaboration and build a more positive corporate culture. These have proven to be key ingredients for survival during the global pandemic.

Like many women, in the early stages of my career, I was surrounded by a heavily male-dominated environment and workplace. Today, I like to think of my experience in both Asia and the West has taught me important lessons on how businesses stand to benefit from increasing the number of women in their talent pool and leadership teams.

Especially in Asia, where men still hold authority and power in most business contexts, we really need to be laser-focused on increasing women in tech over the coming decade. 

Female leaders help to improve not only the decision-making process but also make it more likely that a startup will be able to successfully overcome tough challenges while developing the business with a grand vision.

So what’s my advice to women aspiring to leadership roles at tech companies, but also in other industries (such as media, where I spent much of my career)?

My advice for aspiring female leaders

Be yourself

Don’t feel pressured into changing yourself to fit in the environment, especially if you are surrounded by mostly male peers in the workplace. There is no need to pretend to be tough and strong – you can show your vulnerability to build greater trust with others. 

I’ve learned that women’s strong sense of empathy and compassion can provide you with unique values during challenging times.

Be confident and fearless

Women have the tendency of avoiding conflict or being perceived as aggressive, and this can lead to us underestimating our own competency and potential. 

Stay true to your thoughts and be willing to express or even challenge others, which will help you build the confidence to influence others, make changes or take risks. 

Tied to this is being less self-critical and understanding that when we make mistakes it’s important to focus on the present and future, rather than dwelling on the past. 

Also Read: SATURDAYS closes seed funding from Alpha JWC, others to scale its eyewear brand in Indonesia

Lean in together and support other women

Throughout the years I have learned and benefited from many female managers, mentors, and coaches.

My hope is to see more women encourage other women to become leaders and support each other, especially in terms of helping younger colleagues to grow. When women celebrate each other’s accompaniment we’re all lifted up.

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.

Join our e27 Telegram group, FB community or like the e27 Facebook page

Image credit: Slidebean on Unsplash

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Zilliqa launches US$5M fund to back startups building on its blockchain platform

ZILHive 2019

Singaporean blockchain company Zilliqa has announced a strategic annual investment fund to invest up to US$5 million in 15 companies building on the its platform.

It will invest between US$50,000 and US$500,000 into promising companies in exchange for equity, tokens or a combination of both.

This investment will be funneled through ZILHive, the ecosystem growth arm of Zilliqa, through its ZILHive Incubator and ZILHive Ventures initiatives.

ZILHive Incubator is a 14-week programme that is targeted towards matching entrepreneurs with developers with industry experts to build blockchain solutions on the Zilliqa protocol.

Additionally, to make the programme more inclusive, the incubator will accommodate participants from both technical and non-technical participants who have little-to-no prior experience with blockchain.

Selected participants will develop their projects through mentorship sessions, masterclasses and workshops, out of which some teams will get the opportunity to showcase their projects to potential investors and industry partners at Zilliqa’s annual town hall event next year.

On the other hand, ZILHive Ventures will focus on investing in more mature projects that are built using the Zilliqa protocol.

Also Read: Zilliqa Capital debuts with the goal to invest in decentralised and fintech solutions in SEA, India

The fund aims to invest in companies annually from around the world. The best projects hoping to further scale and seeking growth capital for expansion will be referred to Zilliqa Capital, the recently-launched central business and investment hub aimed at investing in decentralised and fintech solutions to grow Southeast Asia’s fintech and emerging tech ecosystem.

According to the company, ZILHive participants will be assisted from start to finish, from idea generation and business matching, technical and non-technical education, mentorship, capital support, to counsel on taking-to-market strategies, partnerships, and business development.

“ZILHive has always had big ambitions: to drive more open and inclusive finance and commerce gateways for communities and companies worldwide, and power the Web 3.0 era. We have now doubled our investment into high-potential startups and initiatives in service this goal: guiding entrepreneurs from right from the drawing board, seeding and nurturing them to become not merely a blockchain success story, but provide truly useful applications for people,” said Han Wen Chua, SVP (Ecosystem Development) at Zilliqa.

Image Credit: ZILHive

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How GIVE.asia created a brand that thinks beyond the problem

Every tech startup follows a similar trajectory; they come up with a niche, they gather a small, yet effective, team, and they build their product to take to market. For us, the concept of charity fundraising was super simple, yet pretty much unheard of in Asia.

We noticed that the giving culture just wasn’t a part of everyday life in Asia like it was in Europe and the US. We didn’t have friends reaching out to us asking us to donate to their marathons, we didn’t add a recurring charity donation into our monthly personal budgets, and we didn’t feel CSR efforts running through the core of the brands that we worked with.

Therefore, we decided to build a platform that allowed people to help, or be helped, through online fundraising. Over ten years on, and with S$75 million (US$55 million) raised, we truly believe that for tech startups to stand out from the crowd and stand the test of time, they need to think beyond the problem they are trying to solve.

Positive experiences that create habits

Getting creative with your product offering is key, and it’s important to walk the steps of your customers’ journey to assess every pathway that can add more success or value. For example, at GIVE.asia, the basic concept is that people, brands, and charities can either ask for or donate money.
We challenged our team to make this concept less transactional, with the aim of providing a more enriching and fulfilling experience to our communities.

We found that adding simple elements to the product, like a personal “kindness level” and a “social impact” graph, gave donors instant gratification which encouraged them to come back again and again.

The best things in life are the easiest

It has been reported that the ground-breaking “one-click” was patented for US$2.4 billion and worked to challenge a 70 per cent cart abandonment. This tells us something very important about the mindset of the customer; they want the quickest and easiest solution possible.

Also Read: Malaysia-based Ethis Ventures launched charity crowdfunding platform GlobalSadaqah

Even adding an extra 30 seconds onto a transaction could have a significant impact on a brand, with users spending an average of 15 seconds on a website before deciding whether their attention has been grabbed.

Ask yourself how you can make your product as easy to use as possible. This is a long game, and our team works daily on how to optimise our site for this reason. Hacks have included offering multiple giving options, pre-filled forms, and simple and secure payment partners.

A picture speaks a thousand words, a story speaks a million

They say that storytelling is the new marketing, with consumers feeling that they need to understand how they are positively (or negatively) impacting the world through using a product. A recent study shows just how much CSR impacts the decisions of a consumer, for example, 88 per cent will be more loyal to a brand that supports social or environmental issues.

The question is: how does a brand successfully demonstrate the way it is involved with CSR initiatives and the impact that that involvement has? At GIVE.asia, it has become obvious for us that the most successful campaigns have more than just pictures. They have words, stories, updates, and videos to show the situation.

We have noticed that campaigns that include a video or full story write up are ten times more likely to do well. Equally, campaign owners who provide regular updates to their donors are four times more likely to experience repeat donors.

As the years go on, the significance of thinking beyond the problem is becoming more evident. Although at the time, it may be difficult to see the direct impact in numbers, or the ROI, gradually, this will change and the pay-off will be huge.

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.

Join our e27 Telegram group, FB community or like the e27 Facebook page

Photo by Joel Muniz on Unsplash

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Identify and fix problems in your business with Michelle Diamond

Sometimes we can be blind to the problems plaguing our business, and if you’re not careful, they can destroy your business.

We sit down to talk with Michelle Diamond about how to prevent that from happening!

We talk about:

  • How to identify problems in your business
  • How to align strategy with growth
  • How to create a strong foundation to monitor internal and external changes in anticipation of problems arising
  • How to escape the rat race of developing features and functions to stand out from your competition
  • The most important thing you should do for yourself as a founder
  • Why being authentic is the only way to succeed
  • And much more!

If you don’t see the player above, click on the link below to listen directly!

Acast

Apple

Spotify

Stitcher

If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!

For show notes and past guests, please visit our site.

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This article was first published on We Live To Build.

Image Credit: Michal Czyz on Unsplash

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