It is not easy to be an entrepreneur. The odds are very often stacked against you. Depending on which criteria we use, research consistently shows that anywhere between 40 per cent and a staggering 90 per cent of startups fail. A weak management team and running out of money rank among the top contributing factors.

But then getting funded is not easy either. Articles suggest that entrepreneurs secure investment from as little as 6 per cent of investors they approach for funding, a far lower success rate than many founders might anticipate.

Perhaps it is easier to tackle the question of a stronger team then? When we think of founding teams, diversity immediately comes to mind. Stanford school of thought emphasises the importance of having cofounders with different functional backgrounds as an essential factor of startup success. But what if this diversity came from within the entrepreneur?

Our recent study published in Journal of Small Business Management sheds light on the importance of developing diverse skills within yourself as a key to entrepreneurship. Here are some findings that show us how being the jack-of-all-trades pays off in starting new business and in getting you closer to your goals.

• Having diverse skills means you are more likely to be confident, open to new ideas, and willing to form teams. Broadly skilled individuals tend to put more effort into pursuing entrepreneurship. A more diverse range of skills gives you the ability to evaluate opportunities from multiple perspectives and to better approach the complexities you will be facing.
• Working in a team with internally diverse individuals whose skillsets overlap even if just so slightly, makes the communication easier. They understand each other better since they share knowledge and insights about the issue at hand but can still provide different perspectives to each other. By building a team of jack-of-all trades you do not need to compromise between choosing team members who are thinking alike and those who offer diverse perspectives.

Also read: Juggling roles is an integral part of startups: Pricebaba cofounder

• Jacks-of-all-trades attract other jacks-of-all-trades in forming new venture teams. You are more likely to be engaged with like-minded collaborators who are attracted to your capabilities and confidence – they have more faith in your ability to pursue a business opportunity. By being and working with jacks-of-all-trade, you are ensuring the most-wanted diversity between and within the cofounders.
• Passion is not a buzzword, it provides a boost with real benefits. Passion in entrepreneurs fosters a clearer and stronger identity that positively impacts the startup process. Passion serves founders well in handling the ups and downs of launching a startup. It makes them more likely to actively seek opportunities that accelerate the business as well as implement novel ways to solve problems. Furthermore, passion for development helps entrepreneurs nurture and grow founding teams by focusing on collaborations with the right partners.

A team of diverse and passionate individuals, and not solo entrepreneurs, is more likely to successfully attract investors, because they are more likely to succeed. In fact, team quality is one of the first criteria that early-stage investors consider.

After all, business opportunities come and go, you will pivot many times, but only the right team can make things happen. Diverse perspectives make you more likely to uncover new opportunities, while critical tasks such as business plan writing, networking for resources, or hitting those developmental milestones are best done with a team.

Also read: Juggling family and duty: My road to the TOP100

Time and time again we see that it does take a village when it comes to growing startups. There has been much debate over whether it is more important for entrepreneurs to have hard technical skills or soft interpersonal skills.

Now we see that honing a broad range of skill sets within you the most critical. While diversity is usually observed on the team level, entrepreneurs who first develop diversity internally on the individual level are better suited to the critical roles of forming teams and attracting investment.

This better equips jack-of-all-trades types to succeed where others fail.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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Entrepreneurs are always busy. They have little time for anyone. Or anything. And yet, the best of them always find time to learn.

Whether from a mentor, or a podcast, or an online resource, or a conference, we entrepreneurs are constantly looking for small, incremental ways to improve what we do. We often look up to industry pioneers and C-suite execs for inspiration.

However, as adults, we often tend to ignore the little people around us, and the inspiring, wacky lessons that we can potentially learn from them. And do you know what’s unique about this?

You can hire a motivational coach or pay to listen to a few speakers, but you can’t set an agenda for learning with kids. When the student is ready, the teacher (or should I say the kiddo?) appears.

Over the past year, my agency has been working with an early education startup called Kidpillar, who conduct workshops and teach young kids about STEM (Science, Technology, Engineering, Mathematics).

While we helped them put in place a content strategy and establish thought leadership in their space, some aspects of their work with kids served as eye-openers for me personally as an entrepreneur as well as a mother of a seven-year-old.

To be more specific, I distilled some key habits and characteristics that startup and small business owners can develop in order to survive and thrive in a chaotic and competitive business world. Let’s examine this one by one …

Also Read: Why disruption is the best time to be an entrepreneur and how to embrace it

Asking tons of questions

We all are born curious– the urge to find out something new begins as a ubiquitous and extraordinarily powerful psychological characteristic. Talk to any kid and you’ll know curiosity is ever-present and obvious in them.

But as we grow older, environmental influences– be it teachers, parents, other children, or the physical environment we live in– begin to whittle our curiosity into something narrower and often more fragile.

In a session titled The Rise and Fall of Curiosity at the Aspen Institute, Dr Susan Engel named four key influences to children’s curiosity:

• Security
• Opportunity
• Encouragement
• Role Models

As a result of these influences, we grow up to adopt preconceived notions about what is possible and what isn’t, what we can do and what we can’t. These spill over into every facet of our lives.

Children don’t suffer from this syndrome. They are innately curious and they just ask about stuff that they want to explore and know nothing about. This quality is something every successful entrepreneur must have.

Just like curious kids, you must seek out information, grow new theories, convert theories into actionable ideas, and then execute them. Asking questions and taking a game-based approach to critical thinking will make sure you remain nimble and develop potential solutions for problems your customers are facing.

Also Read: I’m married and have two kids. Can I plunge into entrepreneurship now?

Making every penny count

Another crucial lesson that toddlers and preschoolers can teach to all aspiring entrepreneurs is to make full use of available resources.

Finances play a crucial role in the establishment and sustainability of a business. In a report by Guidant Financial, 33 per cent of surveyed entrepreneurs cite “lack of cash flow” to be their biggest challenge.

Can you remember how you, as a kid, were introduced to money? Getting a few pennies or cents was a huge deal. You used to make dollars out of cents, save them for months, and use every last penny to get the maximum quantity or the best models of the stuff that you wanted.

And the journey of saving up money for something, in itself, used to be exhilarating. This is how children go through the process:

• They know what toy they want and how much it costs.
• They keep a close eye on their finances – chances are they know exactly how much money there is in their piggy banks down to the last cent.
• They play nice and put in extra efforts to reach their finance goals quickly.

There are valuable lessons hidden in the above steps for every entrepreneur. Knowing what your business goals are and how much money you’d need to reach there is definitely a great starting point.

And how are you going to achieve this? By staying on top of cash flows, making accurate ROI calculations, budgeting and taking on the extra gig or side hustle whenever you can. In other words, count every penny and make every penny count.

Getting used to hearing and saying no

As adults, we don’t keep count of the number of times we say (or get) a “no” from kids. And yet, they relentlessly keep bugging us for things they want while denying outright the things they don’t want.

Also Read: Imagin8ors wants to inculcate the spirit of entrepreneurship in kids

Every successful entrepreneur should be accustomed to hearing and should be decisive enough to say “No” just like kids. And if you can’t convince them, confuse them. Brannon Poe, Founder of Poe Group Advisors, recounts how his young son used to say, “I can’t want to do that.”

Pick any successful journey and you’ll be amazed to see how frequently these entrepreneurs heard and said “No” – be it to their investors, employees, friends or family. More often than not, successful entrepreneurs don’t become so by compromising or backing down after being rejected several times, just like kids.

The recursive loop of falling, getting up and trying again

When asked the secret to his entrepreneurial success in a Q&A hosted by Business Insider, Mark Zuckerberg said, “Just don’t give up!”

And it’s not just Mark Zuckerberg. In a 2013 interview, Jeff Bezos revealed that he had to schedule 60 meetings to raise US$1 million during early days of Amazon.

Among the potions that make for any and every successful entrepreneurial journey, persistence always holds a special place. This is something that every adult, irrespective of the fact whether they are aspiring entrepreneurs or not, should learn from kids.

Kids don’t have preconceived notions about anything and, unlike adults, they don’t hold on to anger and frustration from the last time they failed. This is why they keep trying new things & failing, only to get up and try again!

Living outside the box

The concept of the “box” develops as we grow old. Toddlers don’t know about this box – with walls of virtual barriers of what and how things should be done. When they enter preschool, they’re slowly but surely put in this box. By the time they’re out of college, they’re firmly imprisoned.

Later in life, it stops them from testing out their ideas. Or even believing in them. Give a kid a car and he will try to float it in water.

By thinking outside the box, kids try anything and everything to feed the curiosity cat of their minds. Entrepreneurs should always carry this zeal to think and try things outside the box.

By doing things the same way everyone else is doing, you can never expect to get different results or differentiate your product or service in the market. And kids can definitely show wan-trepreneurs a thing or two about thinking outside the box and have fun while doing it.

Entrepreneurship requires consistency and patience. Inspiration is available in abundance around us; we should be open to learning and getting inspired when it comes our way!

Remember this golden nugget of advice from Mark Cuban: “It doesn’t matter how many times you have failed; you only have to be right once.”

Finally, a personal request: If you are a business owner and a parent, don’t forget to pass on the smarts and raise your kids to be entrepreneurs like yourself!

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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

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Indonesian tech giants Gojek and Tokopedia today announced that they have combined their businesses to form GoTo Group.

First reported by Bloomberg earlier this year, the merger and the launch of the GoTo Group identity have been one of the most crucial developments in the Southeast Asian tech startup ecosystem.

Though the company did not mention the financial details of the merger, in a press statement, they said that the agreement “marks the largest ever business combination in Indonesia and the largest between two Asia-based internet media and services companies to date.”

Following the acquisition, Gojek’s Andre Soelistyo will lead the combined business as GoTo Group CEO, with Tokopedia’s Patrick Cao serving as GoTo Group President.

Kevin Aluwi will continue as CEO of Gojek and William Tanuwijaya will remain CEO of Tokopedia.

In addition to his group responsibility, Soelistyo will continue to lead payments and financial services under the new brand of GoTo Financial, which encompasses GoPay as well as the group’s merchant and financial services offerings.

GoTo Group will also continue to focus on markets where Gojek already operates. Beyond Indonesia, this includes Singapore and Vietnam.

Also Read: Ecosystem Roundup: gojek, Tokopedia inch closer to a merger; Finder snaps up GoBear

“The creation of GoTo Group, with its broad and fast delivery services and its deep penetration, will mean same-day e-commerce delivery moves a step closer to becoming the norm in Indonesia. GoTo will also further develop its payments and financial services offerings to provide an enhanced financial experience to consumers, drivers and merchants while also expanding to reach more underserved segments in Indonesia, where 140 million people have little or no access to the country’s financial system,” the company said.

GoTo Group also claimed in 2020 it has achieved:

– Total Group Gross Transaction Value (GTV) of over US$22 billion
– Over 1.8 billion transactions
– Total registered driver fleet of over two million as of December 2020
– Over 11 million merchant partners as of December 2020
– Over 100 million monthly active users (MAU)
– An ecosystem that encompasses two per cent of Indonesia’s GDP

The company is backed by investors that include Alibaba Group, Astra International, BlackRock, Capital Group, DST, Facebook, Google, JD.com, KKR, Northstar, Pacific Century Group, PayPal, Provident, Sequoia Capital India, SoftBank Vision Fund 1, Telkomsel, Temasek, Tencent, Visa and Warburg Pincus.

Prior to reports about its merger with Tokopedia, Gojek has earlier been reported to consider a merger with rival Grab.

In an interview with e27 in January, Sergei Filippov, Managing Partner of Singapore-based Morphosis Capital Partners, said that the potential merger between Gojek and Tokopedia “holds way more business sense and provides better market value” as compared to a merger with Grab.

Also Read: Ecosystem Roundup: gojek, Tokopedia inch closer to a merger; Finder snaps up GoBear

“Tokopedia’s ‘paltry’ US$2.8 billion looks way more nimble and leaves enough room for a higher valuation at IPO stage,” he commented.

More on this story as it develops.

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Image Credit: GoTo Group

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The Prudence Foundation has revealed eight startups that have been selected to receive the D-Tech Awards. Out of the eight, four hail from Southeast Asia.

The D-Tech Awards is part of SAFE STEPS, a multi-platform mass awareness programme that raises awareness and provides easy-to-understand educational information on life-threatening issues with the hope of building more resilient communities.

Finalists of the event will receive US$200,000 to support the implementation and scaling of their technology. Non-financial support includes expert coaching, pitching, and networking opportunities with humanitarian experts, VC fund managers, fellow tech entrepreneurs, and social enterprise developers.

According to the press statement, the winner and runner-up in the for-profit (FP) and non-profit (NP) categories will be announced on June 29, 2021.

Global organisations such as the International Federation of Red Cross, Red Crescent Societies (IFRC), and Technology Partner Lenovo are also supporting the event.

Also Read: Meet the 5 SEA startups attending GROW’s Impact Accelerator programme

Here are the four startups and organisation from Southeast Asia for the D-Tech Awards –

EcoWorth Tech (FP)

A Singaporean cleantech company that specialises in transforming waste materials into reusable products that deliver both social and environmental benefits.

Kacific Broadband Satellite (FP)

A broadband satellite operator based in Singapore that provides high-speed, low-cost, ultra-reliable broadband to rural and suburban areas of the Pacific and Southeast Asia.

Bike Scouts (NP)

A Filipino web and mobile app company that gives users the tools for documenting disaster impact in real-time and for activating and coordinating a community-driven, highly scalable, and localised network of support based on proximity to gather and deliver aid through social teamwork.

Yayasan Plan International (NP)

Founded in Indonesia, non-profit organisation Yayasan Plan International provides an early warning tool for flood made from local materials, such as small plastic pipes, small-sized loudspeakers, cables, and tennis balls.

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Image Credit: Connor Betts

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Pine Labs raises US$285M

The story: Pine Labs has raised US$285 million in fresh funding after just five months of its previous fundraise.

Investors: Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures, Ward Ferry Management, Temasek, Lone Pine Capital, and Sunley House Capital.

How the funding will be used: Expansion of its current offerings and to scale its online payments gateway.

About Pine Labs: Incorporated in Singapore, the India-based company serves large, mid-sized, and small merchants across Asia and the Middle East as a payments platform.

Its technology platform enables offline and online last-mile retail transactions, provides customer insights to merchants for targeted sales, and offers risk-managed financial solutions for merchants’ business growth.

Moglix raises US$120M Series E

The story: Singapore-headquartered Moglix has raised US$120 million in a Series E funding round. The company is now valued at US$1 billion.

Investors: Falcon Edge Capital, Harvard Management Company (HMC), Tiger Global, Sequoia Capital India, and Venture Highway.

Also Read: impress.ai raises US$3M to make hiring less tiring for recruiters

About Moglix: Moglix is a B2B commerce company that is inclined towards the procurement of industrial essentials like electrical and lighting, cleaning and laundry supplies, office supplies, tools, and many more.

More about the story: The company was founded in 2015, by IIT (Indian Institute of Technology) Kanpur and ISB (Indian School of Business) alumnus Rahul Garg.

It provides solutions to more than 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK, and the UAE.

gojek to launch car-hailing, e-payments services in Vietnam

The story: Ride-hailing giant gojek will add car-hailing and e-payments to its operations in Vietnam, one of the key markets in the Indonesian startup’s battle with Singaporean rival Grab.

Also Read: Gojek, Tokopedia confirm merger with the launch of GoTo Group

More about the story: “Vietnamese customers can currently use Gojek to hail motorbike rides, order food, and ship parcels, but will be able to request car rides and pay digitally very, very soon,” Phung Tuan Duc, country manager of Gojek, said.

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Image Credit: Pine Labs

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Vickers Venture ensnared by alleged fraud; It’s been caught up in the allegedly fraudulent nickel trading scheme of a Singaporean businessman and his Envy Global Trading; The alleged mastermind, Ng Yu Zhi, has been charged with a range of suspected crimes from faking the purchase and sale of nickel to falsifying transfers from Citibank and account statements that showed millions in funds.

VC funding in SEA sets to see record year in 2021; Startups in the region have raised US$6bn in Q1 alone; VC funding in the region has been growing steadily since 2014, hitting a peak of US$12.6bn in 2018, reveals a Genesis Alternative Ventures report.

GajiGesa, a fintech focused on Indonesian workers, raises strategic investment; The backers include OCBC NISP Ventura and the founders of Kopi Kenangan; GajiGesa also recently expanded beyond the enterprise space with a new employee management system for SMEs and micro-SMEs; The startup announced a US$2.5mn seed round led by Defy.vc and Quest Ventures in February.

Indonesian e-commerce firm Sirclo nets US$45mn in funding; Investors include SMDV (lead) and East Ventures; According to Sirclo CEO Brian Marshal, this investment was part of the acquisition deal of Orami last month; Sirclo acquired Orami, an online parenting platform that’s also part of East Ventures’ and SMDV’s portfolio.

Hong Kong tycoon Li Ka-shing’s firm to focus on funding SEA’s tech startups; Horizon Ventures will focus primarily on the Indonesian market; It has partnered with Alpha JWC Ventures to identify startups; In the past year, the two VC firms invested in Kopi Kenangan, Ajaib and Bobobox.

Singapore’s ProSpark secures seed funding for its corporate e-learning and training solution; Investors include AC Ventures (lead), 500 Startups and Azure Ventures; ProSpark has already expanded into the Philippines and attracted many prominent client base, including Gojek and Kopi Kenangan.

Malaysian B2B e-wholesaler Lapasar lands US$1.8M funding; Round was led by NEXEA and shopper360; The startup targets to serve 10K grocery stores, restaurants and hawker stalls over the next 24 months with its new mobile app Lapasar-Borong.

What does the future of CBDCs actually look like and why does it matter?; A centrally-backed digital currency provides better security, while reducing fraud and lowering costs; It allows for better monitoring of financial activity making crimes such as tax evasion much more difficult and offers a higher level of control and traceability in comparison to private cryptocurrencies and cash.

Chinese unicorn to launch its robot waiters in Singapore, other markets; Keenon Robotics has already launched operations in Japan in March and is looking to also expand to South Korea, Europe, North America, and the Middle East; Keenon Robotics says its robots account for about 85% of all food-serving robots ever sold in the Chinese market.

Facebook chats power a new US$48bn market in social commerce; In Thailand almost half of all ecommerce takes place through social media or chat rooms on Facebook, WhatsApp or Line’s app; The rapid adoption of commerce via social media across the region could offer valuable lessons to internet giants like ByteDance and Instagram, which are experimenting with the format as they try to disrupt the traditional styles of platform commerce.

Livestream e-commerce goes mainstream; The tech and its business model deliver an interactive experience for brands, influencers, or celebrities to promote and sell products; and for consumers to participate by asking questions and shopping during the event.

Digital remittance providers eye APAC markets; Asia’s digital remittance providers are competing with a foreign fintech companies who are entering the region at an accelerated pace; Names such as Wise and Revolut have all entered the region in the past two years.

BlackRock, Temasek to establish new funds to invest in late-stage environmental startups; Decarbonisation Partners is going to establish several funds with the initial injection of US$600mn; Eventually, they aim to hit the anticipated US$5bn+ in AuM in the coming years.

Getting risk culture right in the age of hybrid working; Having a workforce that understands the new risk elements in their work environment will go a long way to support a robust risk culture; Training programmes should be put in place to ensure that employees and customers are educated on security awareness to minimise security risks and to remind employees of the importance of upholding the company’s risk culture.

MAS launches global fintech Hackcelerator for a greener financial sector; FinTech firms and solution providers around the world are invited to submit innovative solutions to address over 50 problem statements that have been collected from financial institutions and green finance industry players.

What it takes to keep SEA’s digital economy booming; A total of 40mn new users were added in SEA in 2020, which brings the total to 400mn users; 70% of SEA is now online; Majority of new consumers are from non-metro areas; They spent on average an hour more a day on the Internet during lockdowns, with the highest spike in the Philippines.

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Image Credit: Vickers Venture Partners

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All of May, we are taking a closer look at the workplace and all concerns of all kinds of workers. Afterall, Labour Day is the flavour of the month. Catch up what all the hype about a 4-day work week is all about and if its even worth it and learn how to manage you tech talent in lieu of the pandemic.

Also marching on is our Earth Day theme with some spotlight on slow fashion and impact investing. Hope you feel enlightened.

Labour Day specials

Voice of Employees: How the pandemic accelerated focus on employee welfare by Leong Chee Tung, CEO at EngageRocket

“Over the next few months, as organisations looked down the barrel of a potential economic downswing and damage to business continuity, HR departments provided the support and infrastructure that employees needed to stay productive and bring their best selves to work – even if that work happened in a virtual space.

For these reasons, 95 per cent of CHROs agree that HR played a leading role in their organisation’s response to COVID-19. As an ally during the period of challenge and change, HR’s role spread across facilitating business continuity in the early months, gauging employee sentiment and therefore the ideal organisational response, and intervening with the right technology at the right moments.

Like Voice of the Customer in the sales and marketing world, listening to employees in the workplace seeks to capture genuine employee sentiment and intent in order to plan more effective and targeted organisational strategies.”

How to retain local talent as global demand for remote tech workers surges by Jamille Tran, a reporter from Tsinghua University

“Technology staff in India, China, Malaysia, Indonesia, and Vietnam have long been known as the top IT outsourcing solution providers for global companies, according to A.T. Kearney’s Global Services Location Index (GSLI).

“Even before the pandemic, companies based in high labour-cost locations, like Australia and the US, have already utilised remote workers for non-core tasks, or even set up hub offices in lower-cost locations,” said Christopher Lee, senior manager of People & Organisation Management Consulting at PwC Consulting Vietnam. “COVID-19 has only accelerated this trend.”

With the acceleration caused by the pandemic, technology jobs like data engineer, senior software engineer, solution architect have entered the fastest growing remote jobs by application volume globally from March to June on Linkedin, the world’s largest professional networking platform.”

Is a four-day workweek better for employers or employees? by Duckju Kang, CEO of ValueChampion

“A number of companies including Microsoft Japan, American-based fast food company Shake Shack, New Zealand-based financial services company Perpetual Guardian have experimented with the four-day workweek in different ways.

Some companies have kept the same working hours and gave employees a day off for a total of 32 working hours per week, while others kept the 40 hour work week but condensed it into four days.

The companies that tested out the shorter work week conducted the experiment for a couple of months before deciding whether to implement the changes permanently.

The experiments yielded a few surprising results. Despite the shorter week, companies saw improvements in employee engagement and productivity. Employers also saw more cost savings and less turnover. However, there were also some negatives.”

As Glints CTO, this is what I want you to know about building an engineering team in Southeast Asia by Seah Ying Cong, CTO, Glints

“I had some abstract ideals about the perfect team I wanted to build. But at the end of the day, I am at a company with a budget, hiring against a tight timeline in a constrained talent market with a thin history.

There are realities to contend with, many of which are unique to the fragmented and multi-cultural context that is Southeast Asia. If I could hop on a Zoom call with that eager hiring manager from five years ago, here’s where I would focus his precious and soon-to-be-frayed attention.”

Caring for the planet

How to become a millionaire investor while scaling sustainability impact in the world by by Jamille Tran, a reporter from Tsinghua University

“BlackRock, one of the world’s largest asset management firms, noted in its recent report that sustainable investing would be no longer a niche area but turning mainstream without compromising financial goals.

International investors are expecting that this millionaire opportunity would prevalently occur within developing countries.

“People in developing countries are very committed to improving their standard of living,” said Ippel, while underlining that these countries account for three-quarters of the world’s population. “They are more committed to growth than entrepreneurs in North America or Europe.”

Slow fashion is back: How environmental sustainability becomes the hottest trend this season by Sarah Garner, founder and CEO, Retykle

“Popular high street brands can now produce weekly collections which are vast when compared to the four seasonal collections of traditional fashion houses.

The amount manufactured at an incredibly fast pace is only possible with some fairly aggressive factors at play which include unethical methods and techniques for producing materials, utilising workers far beyond the standard and ultimately safety, quality and efficiency of the garment.

The Sustainable Apparel Coalition estimates that designers control upwards of 80 per cent of a product’s environmental impact, and that it lies in the first steps of development. It is tough to work backwards when you are working towards a more sustainable product.”

And more….

What does the future of CBDCs actually look like and why does it matter? by Kanv Pandit, Payments and Banking at FIS

“The uncertainty created by the ongoing pandemic has led to cryptocurrencies including Bitcoin becoming mainstream. Both Apple Pay and PayPal recently started supporting bitcoin payments in the US. In Asia, Singapore’s DBS bank launched a digital currency exchange last December – this is the world’s first cryptocurrency exchange backed by a traditional bank.

As consumer demand for digital currency payment options rises, merchants in Asia are now beginning to accept such payment options across various channels. For example, in Japan bitcoin is accepted by over 260,000 stores and Japanese e-commerce giant Rakuten had just launched a crypto wallet this month that allows users to shop both online and in-store using crypto.”

How cloud technology makes trading a hassle-free experience by Jeremy Choi, COO, ABCC Exchange

“From social media and banking to healthcare and government services, there is a need for efficient and reliable data infrastructure, cloud technology can greatly enhance the user experience.

For high-frequency trading environments, which depends on split-second decisions and execution, the use of cloud technology can help streamline the transaction process.

Why exactly is choosing a trading marketplace utilising cloud technology so important in improving the experience of buying and selling digital assets?”

Advertising with privacy: How SoMin employs AI to build brands and preserve anonymity online by Deon Tan, Block71 Singapore

“Consumers will also benefit from the increased privacy and absence of in-your-face advertisements that clog up news feeds. All in all, sophisticated adtech tools create a win-win situation for both businesses and consumers alike.

However, building sophisticated performance tools requires skill and a wealth of industry knowledge. Fortunately, a team of experts at BLOCK71 Singapore have been working to build the future of ad optimisation since 2017.

This month, I sat down with Hendrik Schwartz and Aleks Farseev, good friends and co-founders of adtech startup SoMin, to dissect the intricate workings behind their AI-driven marketing performance system.

Read on to discover the game-changing powers of ad optimisation for both businesses and consumers.”

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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It has been more than a year since the pandemic that sent nine-to-fivers packing their desks and relocating to dining tables at home. As regulations lift and workplaces open, companies are now trialling new combinations of working remotely and from an office.

Some have recalled staff back in separate groups, while others are on staggered schedules. Whatever the specifics, one thing is sure: the hybrid model is dictated from top leadership – leading the charge to get as many workers back to their seats as quickly as possible – and hastily implemented in a cut-and-paste manner down the chain of command.

Perhaps that is not surprising, speed has never been more important for companies seeking to bounce back. Despite what others may have you think, there is no shortcut.

Without strong leaders on all levels, these return-to-work models do not make reliable guides.

One hybrid model doesn’t fit all

There is no definite standard of what hybrid work should look like, and of course there is none. It depends on the industry in which the company operates and its corporate structure. Similarly, there should not be one be-all-end-all hybrid model across the departments within your organisation.

Say you impose a split-team work arrangement; your Sales Division will continue to bring in steady business, but with less hands on the loading docks, your Warehouse Crew can no longer keep pace with operational demands. Some workloads may decrease, while for others their workload may increase.

Also Read: Why remote working is the future for startups

Considering a hybrid work model also extends beyond just departmental functions. Individual work style strengths also play a part. If there’s one thing we learned from weeks of defaulting to online communication, it is that some people take better to working from home. Put them back within the confines of a cubicle and they lose their spark.

Conversely, employees who benefit from meeting in-person cannot be expected to achieve the same efficiency from behind a screen. Ask any seasoned worker and they will tell you that remote work is the silver lining of the pandemic. But for those who are on the learning curve or even promotion-list, zero physical proximity with their higher-ups will stunt their progress.

In fact, the knowledge that was once accessible is now siloed in emails and chats groups. New hires can forget about shadowing their managers without flouting the 2-metre rule.

One hybrid model doesn’t fit all and forcing it to work across the entire organisation will lead to decreased productivity and poor employee experiences.

What has leadership got to do with it?

Top management earns their stripes by making big calls for the company. But when it comes to running smaller units, the real decision-making power lies in the hands of team leaders and project managers. It is up to you to align your operations with the type of hybrid model that best fits the team.

The team leader decides how these distinct modes; remote and onsite work, can integrate to advance the company’s goals. At The Little Black Book, we have worked hard to provide what we call a blended hybrid structure. We are a mix of team members who prefer to be in the office during work hours and those who only come back as needed.

Also Read: Are your influence skills ready for remote work?

In addition to daily check-ins, we hold weekly face-to-face meetings. Or in this case, facemask-to-facemask meetings. Team leaders are empowered to delegate growth, not just tasks, make operational decisions and establish working norms. Working norms ensure that your downlines are clear about what is expected of them.

For instance, we ask our remote team members to give notice of any extended time away from the laptop during the workday. Even without a punchout clock or timesheet, your team has the structure it needs to function seamlessly.

This type of decentralised decision-making allows greater autonomy within departments or teams, and thus greater productivity. For rigid bureaucratic types, the blended hybrid model might sound too ‘work when you feel like it’. However, it is not about pandemic-proofing the office, setting everyone loose and hoping for the best – it starts with company culture.

Time to adapt your work manifesto

It is time for leaders to rethink performance metrics, which in this post-pandemic reality, is not about how long an employee stays behind after everyone has clocked out. For a blended hybrid model to work, the focus should be on measuring work output rather than hours. Rewrite your cultural manifesto into one that values communication, practices fairness and assumes goodwill of its team members. And even more crucially, include this in your culture deck: remote work is a competitive advantage.

The pandemic will soon play out, but we believe that the hybrid work has a permanent place in the employment mix. Approach this new framework less like an interim response to the pandemic, and more like an opportunity to grow your organisation globally. With a blended hybrid structure in place, your internal teams will have access to remote-ready talent from all over the world – but not otherwise possible if you continue to run top-to-bottom.

Every organisation should look beyond operating in survivalist mode and plant the seeds for long term success. After all, as your organisation continues to recover from the pandemic, the very nature of how its department and teams work will evolve.

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In my first startup founded in 2016, I was a student entrepreneur who had to figure everything out independently. Running a company is tough, even more so when one is a student who has to juggle everything.

Along the way, I’ve received plenty of help from individuals and institutions, whose only request was for me to pay it forward to the next generation of founders (besides buying them coffee).

And paid it forward I have. Since then, the kindness I’ve received was paid forward in various capacities, such as:

• being a NEXT50 mentor, a TRIVE pay-it-forward programme
• speaking on student entrepreneurship, e.g., TEDxNUS, Clubhouse, etc
• mentoring in local and international innovation challenges, e.g., hackathons, innovation sprints, etc.
• being the CTO-in-residence for the venture builder program in the Singapore University of Social Sciences

Mentors who contribute their time and energy, despite having highly limited amounts of them, will agree with me on this: it is fulfilling to assist, guide, and discover the next generation of awesome folks who will change society.

However, the tipping point for me came when I was involved in an entrepreneurship start-a-thon in the first weekend of May this year.

Long story short, I felt that my time was completely wasted with huge opportunity costs incurred due to a lack of professionalism of the organising team. Apart from my anger with the team, I am angrier with myself for not listening to my instincts, even though the red flags were present.

As such, to help fellow founders out there who are passionate about mentorship in events, I’ve compiled a short list of red flags so that you can decide whether it’s worth your time to pay it forward.

Red flag #1: The organising team moves slowly

You can tell how organised an event will be based on how quickly a team moves. How does one tell whether a team moves quickly or otherwise?

One such sign is how the team spends the time in between first contact and subsequent engagement of the mentors.

For example, let’s say you indicate your interest a month prior to an event. Instead of contacting you immediately to either accept or reject your interest to mentor, the team only engages you five to seven days before the event.

Also read: What you should expect from your startup mentor

What was happening in the three weeks between first contact and second contact? Who knows, but it’s irresponsible to leave someone hanging until the last minute when the mentor might have to shift things around to accommodate the team’s poor organisation.

To a busy entrepreneur, one week is not a lot of time to change plans just to accommodate the timing provided by the team.

Time is a resource that you’ll never get back once you lose it. If the organisers don’t respect their own timeline, don’t expect them to respect yours either.

Red flag #2: Poor communication

Organising an event requires multiple stakeholders to be in sync and aligned, and it is impossible to do so without poor communication.

As such, a red flag to watch out for is how well the organising team communicates with you. A lack of communication/lack of coordination in communication is a precursor to things messing up, be it before or during the event.

A good team over-communicates and ensures that you know exactly what you need to do, and when you have to be there. On the other hand, a poor team does the opposite and leaves you in the dark.

Apart from communication between the team and you, watch out for signs of poor communication between team members as well. The most telling signs:

• repeated messages to you
• slow replies with scant details
• lack of coordination amongst team members
• having poor email habits

If you catch yourself asking why it’s so hard to talk to the team or find yourself confused, it’s time to reconsider your participation in the event.

Red flag #3: You ask yourself “what’s going on?”

A mentor’s job is to go into pre-arranged sessions and support the participating teams in their bid to create the next big thing. Thus, the onus is on the organising team to ensure that this happens smoothly. In fact, all of the thinking should have been done for you by the organising team.

Also read: Meet Mentor For Hope, the startup mentorship programme that will donate 50K meals for those in need

At any point in time, if you have to take the initiative to ping the team to get updates or are in constant doubt, you might have to be mentally prepared for things to go awry.

In fact, if you have to guess what’s going on at any time, it’s probably not a good idea to stick around the event.

Conclusion

That’s all folks, the three red flags that one should look out for.

Organisers, if you read this and you felt like the red flags applied to you, please commit to improve for future events. Organisers-to-be, I hope you share this piece amongst your team members as a cautionary tale as you organise your events. In fact, these red flags are meant for all kinds of events, not just startathons, hackathons, or any -athons.

Fellow mentors and individuals thinking about helping out in hackathons/events/challenges, I hear you that it’s important to contribute time to the ecosystem. Use this list of red flags wisely in the future as you decide how you want to contribute.

At the end, I hope this piece will lead to a change in how events involving external mentors are run. As for me, I’ll be taking a break from paying it forward unless it’s a warm referral or a request by trusted peers and just focus on hustling.

Founders, you should focus on hustling too unless the reasons to mentor are extremely compelling and the organising team respects you and your time.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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As the leading full-service telecommunications company in the Philippines, Globe plays a vital role in connecting a sprawling archipelago of over 7,600 islands and more than 100 million people. But building a successful enterprise is just part of the picture.

We knew that to bring digitalisation to the wider nation — one that is brimming with opportunity, yet also struggling with poverty and limited resources — we had to start from home and transform the company’s own digital culture before expanding this to the wider nation.

A fresh start for building a vibrant future

To start, we launched Globe’s new digital identity on a collaborative cloud platform. As an investment that would shape the workflows for thousands of employees, we wanted to make sure the platform we chose was the best fit.

We organised a competition between two leading cloud providers, who were invited to demonstrate features of their solution on five different floors in our old office. Our leadership team also included a site-creation challenge in which team members built 62 project sites on the competing solutions, working with features that required no prior IT background.

When put to a company vote, Google Workspace was the choice for more than 75 per cent of participants, with its primary factor being its powerful, easy-to-use cloud-based features.

Google Workspace was introduced to our workforce of 17,000 people in only four months, and we began with utilising messaging and communication platforms including Gmail, Hangouts, Meet, and Calendar, before moving to productivity and collaboration apps such as  Drive, Slides, Sheets, Forms, and Sites.

Accelerating business process automation with a no-code platform

We use a lot of manual processes to serve our customers, and are embracing digitalisation as a business to embed software within those processes, or use software to create end-to-end processes.

Globe’s adoption of AppSheet, an intelligent, no-code platform that enables teams and individuals to create workplace apps, helped accelerate the organisation’s digital transformation program.

In Q2 2020, an AppSheet ‘hackathon’ was held as part of our adoption strategy, and we invited all our employees to join and conducted workshops, and then we gave them eight weeks to complete their application on top of their usual workload. 

AppSheet enables Globe employees to build and iterate apps and, best of all, since they are typically the end user of an app, they understand precisely what they need; there is no need to pass information from business analyst to project manager to developer.

The agility to create business process automation is the significant value we see for AppSheet. By enabling employees to build apps to automate internal processes without support from the business’s IT operation through AppSheet, we were able to centralise costs and implement internal automation processes that were not previously prioritised or accepted when business cases were submitted. 

As Globe’s Chief Information Officer, Carlo Malana shares, “we’ve always been on the lookout for grassroots innovations among our employees at Globe, and this is something that we’re very keen on cultivating for our people. AppSheet gave us this flexibility — it is the perfect tool to mine these innovative minds, and allows us to quickly execute and transform how business is done and improve how we serve our customers.”

Also read: Better workforce management leads to greater customer satisfaction. Here’s how Google did it

The success of the no code hackathon made a very good impact in showcasing our employees, the winners, and the applications they built using AppSheet. We believe we were able to get those early adopters to provide their insights and support for our program.

Post-hackathon, we also engaged Google Cloud to run an enterprise workshop to assist with the deployment of AppSheet. They also provided a success manager and account manager, and supplied AppSheet documentation and ongoing premium support, to assist with the training of hackathon participants in the transition to developing critical applications in AppSheet.

Since then, Globe has expanded the number of no-code apps developed using AppSheet from 59 created during the hackathon to 350. From the five-day enterprise workshop run with Google Cloud, we trained 450 employees, 180 of whom are now app creators.

The final objective of federation through AppSheet is to enable Globe’s workers to undertake their own business process automation. This means enabling citizen developers to use APIs and other tools to integrate with goal systems such as our customer relationship management systems. Eventually, we aim to integrate all our platforms and enable rapid prototyping through AppSheet.

Moving forward, we also hope to continue building skills internally through training and workshops delivered via Globe’s University campuses, and to collaborate with Google Cloud to enhance its capabilities in areas such as monitoring.

Adapting quickly during a pandemic

This forward thinking in employee training and empowerment proved to be especially helpful during the pandemic that prompted lockdowns in the Philippines. We needed to adapt quickly and at scale, with AppSheet helping the business make the necessary adjustments.

For instance, our store specialists had challenges managing customer visits during the pandemic. To overcome this, the team created an app to enable customers to reserve time slots to attend stores, enabling them to complete their visits quickly and efficiently.

Furthermore, Globe’s human resources team automated a process that enabled employees to claim internet, electricity and other resources required to work remotely during the pandemic.

Business process automation speeds up

Based on a review of 25 launched apps, Globe’s business process turnaround time has been reduced by 79.8 per cent since deploying AppSheet.

Prior to that, we had to create a business case to justify the development of each app and then prioritise the work. Going from prioritisation to production would take about three to six months, depending on the complexity of the app.

Now, a skilled citizen developer can deliver a complex app in two to four weeks and a more straightforward app in a week or two. There is less of a need for testing and less of a need to create documentation – we can shortcut directly from idea to development.

The no-code development platform allowed our citizen developers to utilise its machine learning capabilities to build richer, more intelligent apps; for example, a hackathon team used AI and machine learning features to deliver competitive customer experience speed test estimates using AppSheet’s predictive model. They can also use spreadsheets as a common, easy-to-use data source for apps.

Furthermore, with AppSheet’s seamless integration with Google Workspace, employees without coding backgrounds can also create AppSheet apps directly from Sheets, eliminating the need to search drives for the correct data sources.

Creative solutions in the cloud

These cloud tools are key to Globe’s ‘zero back office’ project. Our aim is to eliminate all internal paper communications, for everything from expense approvals to gym reservations.

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

At the same time, these allowed us to strengthen our security policies, adopting single sign-on and multi-factor authentication, mobile device management, content compliance, and other features, while also storing all employee data in a secure cloud environment.

Furthermore, as Globe moves away from slide-based presentations for monthly and quarterly reports to dashboards that provide near real-time information and a single source of truth, we use other Google Cloud features to unlock the power of data through visualisation, insights, and storytelling.

We have a dedicated team using Google Cloud BigQuery for data analysis to support its enterprise office group and marketing services hub, while Google Data Studio enables employees and groups to track performance for everything from completion of mandatory tasks to organisational KPIs.

Our close partnership with Google Workspace and Google Cloud enables our team to strive towards making Globe’s vision a reality.

This article was co-authored by Francis Pugeda, Head of Emerging Technologies &  Red Jaques Bernaldez, Workplace Technology Portfolio Head, Globe Telecom.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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