The evolution of VC in Indonesia: An eyewitness’ perspective by Adrian Li, Founder and Managing Partner at AC Ventures

So much has changed in the Indonesian VC ecosystem since I first started working on a fund in 2014. From an investor’s perspective, among the most apparent challenges previously was finding entrepreneurial talent and significant downstream funding risk.

But back then we were pioneering and starting venture capital as an asset class in Indonesia along with several other players in the market.

However, entrepreneurs faced bigger challenges than just securing funding. The entire market for the online space, payment and logistics infrastructure was still very nascent. Smartphone capabilities were also far from where they are now, and of course, without the penetration of Gojek, Grab, and Shopee, consumer confidence was much lower.

Just seven years on, things have entirely changed. The majority of consumers do not think twice about buying online given the prevalence of online shopping apps.

What the world of travelling will look like post-pandemic by KC Cheah, CEO at Alpha Red Services

With the growth of mobile technology, OTAs, airlines, and hotel groups are also investing in technology to serve their customers more directly.

The last two decades have brought numerous changes to the travel industry. Travellers can now book hotels, flights, read reviews, and gather information about where they are visiting from the comfort of their homes or anywhere they are.

The travel industry will never remain the same again after the pandemic, at least for the first couple of years. Henceforth, here are some of the travelling trends you should expect.

Will Robinhood’s IPO lead to more short squeezes like GameStop? by Oleg Spilka, Investor, Founder and CEO

Now, as Robinhood prepares to go public, could we see more short squeezes like GameStop emerging on a regular basis?

Since the beginning of the COVID-19 pandemic, Robinhood has rarely strayed from controversy. The app’s imposition of restrictions on the investor accounts in the wake of the GameStop saga drew criticism from investors and onlookers alike.

In May, Warren Buffett, one of Wall Street’s most famous figures, likened Robinhood to a casino. “American corporations have turned out to be a wonderful place for people to put their money and save but they also make terrific gambling chips,” explained Buffett.

“If you cater to those gambling chips when people have money in their pocket for the first time and you tell them they can make 30 or 40 or 50 trades a day and you’re not charging them any commission but you’re selling their order flow or whatever … I hope we don’t have more of it.”

Notes for startups

User retention strategy: Why you need to add social experiences into your app by Angelique Parungao, Content at Amity

While app developers go full throttle on their app user acquisition, they fail to realise that they need to prioritise how they can engage and eventually retain their users in this stiff competition –a concept known as user retention strategy.

After all, it takes five times to acquire new customers than to keep one. This number just shows how a clear user retention strategy can be a powerful tool to ensure the success of an application.

User retention is a significant factor in determining the success of an app. If you have an active user base that stays engaged with your product, you are more likely to retain those customers and increase your in-app revenue.

3 reasons why Asian tech startups fail by Georg Chmiel, co-founder Juwai IQI

In my experience, most investment and industry insiders estimate that about nine out of every 10 Asian startups will fail to reach their fifth birthday.

I have the privilege of examining hundreds of fundraising memorandums from Asian startups each year. I also have extensive experience on the board and in the C-suite of successful technology companies such as the Australian unicorn, the REA Group.

Here, let me walk you through the three most common reasons Asian tech startups fail and how founders can avoid them.

How should non-tech companies approach AI? by Andrey Koptelov, Innovation Analyst at Itransition

Democratisation of AI-based tech is now leading to even the least tech-savvy companies using this technology to their advantage. Companies operating in healthcare, travel, insurance, retail, education, and many other industries now embrace AI software development to streamline their decision-making and make workflows more efficient.

For example, Johnson & Johnson uses AI to discover new drugs and make vaccines. Bloomberg uses AI to automatically generate financial news articles based on companies’ financial reports. Costco has managed to attract millions of new customers by utilising AI to detect the most effective locations for their new store locations.

Other uses of AI firmly resemble decades-old sci-fi movie scenarios. For example, Ping An, a Chinese insurance company, uses facial recognition to detect dishonest clients. Potential borrowers can now apply for loans through an app by answering questions about their finances using a mobile camera.

Playing it safe

Mind the trust gap: How does a company develop consumer trust through data stewardship? by Rajeev Peshawaria, CEO of Stewardship Asia Centre

Big Data sets can be used to track and predict consumer behaviour and analyse group psyche to influencing and nudging political and social views as well as buying habits.

At the other end of the spectrum, data breaches and compromised data security have continued to hit news headlines. According to a report by Risk Based Security (RSB), cited by TechRepublic, the number of breached records jumped 141 per cent in 2020 to 37 billion.

Regulators are doing their part. But regulatory pressure alone has not prevented violations because in most cases, it appears that companies are trying to satisfy the minimum regulatory requirements. Some may even risk ignoring the rules because of cost.

The plethora of corporate data breaches has human consequences, with ordinary people falling victim to scams and online fraud. No consumer wants their private data falling into the wrong hands.

Crypto trading: How to be sure you are doing it safely? by Jeremy Choi, COO, ABCC Exchange

Crypto exchanges play a crucial role in determining your trading experience. Other than being the medium to purchase, sell and trade crypto assets, crypto exchanges also act as a convenient vessel to store funds.

Choosing a crypto exchange platform is fundamental to have a safe trading experience. A secured exchange that complies with the regulatory requirements and ensures protection for all users and projects onboard is necessary to ensure user protection.

When choosing a platform, new traders have to look beyond fee structure and token pairs, rather they should ensure to read into the security and safety processes of these exchanges to protect themselves from being easy victims of fraud.

Platforms like ABCC Exchange, allow for their users to securely trade through their unique multi-layered security infrastructure. An exchange with such a user-centric layout allows current users and other crypto-enthusiasts to feel safe diving into the world of cryptocurrency.

Emotional leadership in a post-COVID-19 business world by Lesley J. Vos

And while it’s common to see 23 to 30-year-old entrepreneurs and startup-ers who are millennials themselves and supposed to set the corresponding leadership style, some aren’t yet emotionally intelligent enough to deal with their ambitious and mindful mentees on the way to business success.

In the post-COVID-19 world, when so many people became more self-aware and revised their life and career goals, emotional intelligence turns to be even more essential in the workplace.

With remote work from homes, the ability to recognise, evaluate, and control mentees’ sentiments is critical for responsible leaders to master.

Here’s what young entrepreneurs and team leads can do to get the ball rolling.

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Vietnamese startup Kamereo, which offers an online platform for F&B companies to optimise their sourcing and purchasing processes, has received US$4.6 million in a Series A round of funding, co-led by conglomerate CPF Group, Quest Ventures, and Genesia Ventures.

The Ho Chi Minh City-headquartered startup will use the funds for expanding its team and operations into Hanoi next year, as well as to build a new warehouse management system to optimise daily operations.

A portion of the money will also go into upgrading the user experience and service quality of its website and mobile app (available on App Store and Google Play) and expanding tech coverage to allow the in-house engineering team to make fast, data-driven decisions.

Also Read: In a post-COVID-19 world, Vietnam is SEA’s latest hotspot for venture capital investment

In the long term, Kamereo aims to become a one-stop procurement platform for F&B businesses.

The platform was launched in 2018 by long-term Japanese expatriate Taku Tanaka with a vision to redefine the food business by letting chefs and restaurateurs focus on serving the best culinary experiences to customers while leaving the nitty-gritty of supplier negotiations, order processing and management to the Kemereo team.

Before launching the company, Tanaka held the role of COO at renowned restaurant chain Pizza 4Ps. It was here where he began to find problems to overcome with the food supply chain, particularly with efficiency. It was this experience that led to his founding of Kamereo.

Kamereo is a tech-enabled supplier for restaurants, hotels, cafes, retail shops and offices. It is a one-stop platform where farmers, producers, importers and buyers connect to trade a range of fruit and vegetable products at the best prices. It also has its own warehouse, delivery team and customer support team. Some of its most notable clients are Pizza 4Ps, El Gaucho, Sol Kitchen & Bar, and L’usine.

The startup claims it has grown by 15 per cent every month in the last 12 months despite mobility restrictions and the temporary closure of some businesses. It attributes this success to the surging local F&B industry, which has shown a steady compound annual growth rate of over 10 per cent, as well as segment players’ growing discernment on sustainably and ethically sourced goods, and the country’s overall positive management of the coronavirus pandemic.

Currently, the foodtech startup has about a hundred employees serving more than 400 active customers who buy regularly from the platform.

Montri Suwanposri, CEO of CP Vietnam Corporation, said: “We are pleased to join forces with Kamereo, combining our state-of-the-art production and highest food standards with their unparalleled B2B F&B expertise. Together, we are helping and elevating F&B entrepreneurs with hygienic, tasty, and innovative food as they strive to do better for their customers.”

Also Read: How the gig economy is empowering women in Vietnam

Goh Yiping, Partner of Quest Ventures, added: “Kamereo sits in one of the largest food production hubs of Southeast Asia, and there is much room to grow in solving many of the inefficiencies of the supply chain today, improving farmers’ livelihood outcomes and procuring the best products for businesses and homes.”

As per a new report, Vietnam is expected to be the ‘rising star’ in Southeast Asia’s startup ecosystem. The country will emerge as the third-largest startup ecosystem in the region in 2022, with stronger signs of VC funds putting more efforts into early-stage investments in the country, according to the report released by Golden Gate Ventures.

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Image Credit: Kamereo

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Desty, a startup providing social commerce solutions for Indonesia’s merchants, announced today it has secured US$3.2 million in a pre-Series A funding round led by Chinese VC firm 5Y Capital.

Formerly known as Morningside Venture Capital, 5Y is the backer of notable Chinese companies such as Xiaomi and Kuaishou. This marks 5Y’s inaugural investment in the archipelago.

Other participants in Desty’s latest round are Fosun RZ Capital, January Capital, IN Capital, as well as East Ventures, who is also Desty’s seed investor.

Also Read: YC-backed Super raises US$28M to grow its social commerce platform in Indonesia

The startup will use the funding primarily for team expansion and user acquisition. “We have our laser focus on serving online merchants and users in the ecosystem. We only have one goal, which is to make sure they can grow their business efficiently. Our team has over 15 years of experience with merchants and their digital operations, which we believe is key to the growth of the economy in Indonesia,” said co-founder and CEO Mulyono Xu.

Launched in October 2020 by Xu and Bill Wang (COO), Desty is a digital platform that helps merchants, influencers, and creators build a single online destination to promote and sell their products. Users can create landing pages optimised for links in bios and build their own branded online store in just several minutes for free.

Currently, the startup has two main offers: Desty Page and Desty Store. Desty Page is a landing page service optimised for links on social media accounts, especially Instagram, while the latter provides a platform for users to open an online store to complement their marketplace presence easily.

It has also established Desty Academy, a channel of information and training resources to help users grow their business with practical how-tos, best practices, and case studies.

Also Read: A look at the future of social commerce

It is essential for merchants and sellers to easily manage their multiple online presences in Indonesia’s dynamic e-commerce landscape. “We believe that as a merchant, users need options to do business, whether in the marketplace, in their own domain, and in social media channels. We are here to provide solutions for them, so that each channel can complement one another, instead of competing. This will result in less dependency on external parties and more sustainable business in the long run,” added Mulyono.

“Desty is creating a platform that enables merchants to go digital in five minutes. We have invested in similar companies in India and China, and these solutions create immense value. With a solid team behind Desty, we have no doubt it will change the whole landscape of small and medium enterprises in Indonesia and Southeast Asia,” said Tej Kapoor, co-executive president of Fosun RZ Capital.

“The Internet is all about links. Great internet companies build links. They link people to people, link online to offline, and link demand with supply. In the e-commerce world, there is a massive opportunity in linking social and content with e-commerce transactions. We have seen this great power when social and content meets e-commerce in China. We believe Desty can become the linking infrastructure in Southeast Asia’s e-commerce world and could contribute to a better ecosystem where social, content, and e-commerce transactions link closer and smoother,” said Hanson Hu, VP of Investment at 5Y Capital.

Desty’s launch and funding come at the perfect time to complement Indonesia’s massive e-commerce development during the pandemic. The nation’s online transactions jumped by 18.1 per cent to 98.3 million in 2020 while recording 12 million new e-commerce users.

Also Read: Leveraging social e-commerce to maximise your brand in China

In addition, Indonesian consumers’ most trusted shopping channels come in various platforms: marketplace (97 per cent), business’ own domain/website (91 per cent), and social media (82 per cent).

“Since our investment late last year, Desty has been paving the way for merchants, influencers, and creators to go online. As a result of the pandemic accelerating this shift to online, there is a continuously stronger use case for Desty and where they fit into the market. We are confident that Desty, backed by a team of experienced founders, will continue to create impact and provide value for the millions of Indonesian online sellers,” said Willson Cuaca, co-founder and managing partner of East Ventures.

Mulyono is one of Indonesia’s e-commerce veterans with years of experience at Alibaba Group, complemented by his expertise as a former VC at BAce Capital and President of EV Growth. His co-founder Bill Wang embodies 17 years of e-commerce experience under Alibaba Group.

Social commerce is a fast-growing industry in Indonesia. Thanks to the ongoing COVID-19 crisis, the social commerce sector is witnessing a boom, and many offline companies have set up their own digital stores on social sites like Facebook.

In April this year, Super, a startup that uses social commerce and a streamlined logistics chain to lower the cost of goods, raised an oversubscribed US$28 million Series B led by SoftBank Ventures Asia. Other social commerce companies in Indonesia include KitaBeli, ChiliBeli and Woobiz.

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Image Credit: Desty

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Philippine media conglomerate GMA Network is setting up a holding company, GMA Ventures, Inc. (GVI), to identify and invest in tech startups within and outside of the Philippines, with an aim to tap into new markets and revenue streams.

As per a press statement, GVI will lead the GMA Group in identifying, investing in, and/or building strong and sustainable businesses.

GVI will focus on sunrise industries with substantial growth horizons and industries that continue to expand.

Aiming to be at the forefront of technology advancement and the growth of the digital economy, it will likewise engage in mergers and acquisitions, strategic partnerships, and fund investments.

In May, during the GMA’s annual stockholders’ meeting, the investors of GMA had approved to put in P25 million (~US$500,000) into GVI. According to its chairman and CEO Felipe L. Gozon, GVI will serve as its vehicle in investing in non-core or non-broadcasting business activities that may provide the company with additional revenues and profits.

Also Read: Philippines creating US$5M venture fund for local startups

“Following the successful roll-out of our digital TV products and a banner year in 2020, we are looking at surpassing our own achievements not just in terms of our main media business and content production. We are actively looking for ways to diversify the company’s portfolio by investing in sustainable businesses and, ultimately, providing the best returns to our shareholders in the years to come,” said Gozon.

GMA President and COO, and GVI’s Vice Chairman Gilberto R. Duavit, Jr. added: “While we tirelessly work on maintaining GMA’s leadership position within the industry, we also intend to further contribute to the growth of the Philippine economy as we protect and increase our shareholder value. GMA Ventures will be our arm in identifying other viable sources of revenue and future profit pools.”

“We now set our sights on making GMA one of the major conglomerates in the Philippines. We are taking this significant step to future-proof the Network, champion innovative industries and business models, and be at the forefront of technology advancement and the growth of the digital economy,” said GVI’s President and COO Regie C. Bautista who is also GMA’s Senior Vice President for Corporate Strategic Planning and Business Development, Chief Risk Officer, and Head for Program Support.

GMA Network, led by two of the richest people in the Philippines, became the leading broadcaster in the Philippines since the shutdown of its archrival ABS-CBN in May 2020 as the TV network failed to renew broadcast license with the government.

In March, the Department of Trade and Industry (DTI) of the Philippines announced that it was creating a P250-million (US$50 million) venture fund aimed at investing in local startups. The fund is line with the Innovative Startup Act 2019 and is aimed at supporting product research and development, product manufacturing, sales, and marketing of startups.

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Image Credit: GMA Network

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With the boom of tech startups in the region, Southeast Asia has grown to become one of the global hotspots for entrepreneurship in the last few years. Across different verticals including ride-hailing, e-commerce, AI, machine learning, blockchain, and many more, the region is home to some of the most promising young companies in the world. One particular vertical that has seen tremendous growth is fintech. As recent global events have accelerated developments in the fintech space with the increased demand for neobanks, cashless payments, and e-wallets, the industry has experienced many strides.

With that, the expected market growth of fintech is estimated to be between $70 to 100 billion by 2020, according to a senior research analyst at Finovate. This upward rally continues even in times of COVID-19, when more users try new digital services for the first time. This has undoubtedly led to an acceleration of the digital economy.

Another factor that contributed to this vast potential for growth is the lack of financial inclusion in the region. As the World Bank points out that there is a gap in terms of access to comprehensive financial tools in Southeast Asia, this makes it difficult for people to save, borrow, and manage money. Among all countries in Southeast Asia, Malaysia presents an opportunity for growth given its relatively large unbanked and underbanked population, coupled with high rates of smartphone penetration.

With Fintech changing the way people and businesses transact, save their money, borrow, invest, and buy investment products, the most disruptive innovations are those that operate within the fintech space. Fintech has given access to different forms of finances for people in remote areas, boosting the economy, and stimulating demand. Moreover, many economies have implemented regulatory sandboxes to motivate innovation in the fintech sector.

Malaysia — a microcosm of SEA’s diverse tech ecosystem

Just like the rest of Southeast Asia, Malaysia has a diverse mix of racial groups which means that oftentimes, the country enjoys a healthy blend of different cultures in the workplace. People from all cultural backgrounds are welcomed to the bustling city environment where top-notch talents can enjoy the various employment opportunities that the country offers.

Other than that, Malaysia is also well positioned to leverage global connections into a local market. As the country sits in the heart of the APAC region, Malaysia is ideal for international business and global startups, given the kind of regulatory support offered by the government. Moreover, its close proximity to other time zones and Asian countries means that setting up a hub in the country won’t translate to logistical discrepancies with people working in neighbouring territories. Experts also point out that the country is becoming the centre of innovation for Islamic finance, which gives Malaysia a niche position as a leader in Islamic Finance in the world amid the growing demand for Sukuk and other Islamic financial products.

Also read: How SMBs grow their business with TikTok

One particular fintech company that finds Malaysia a well-suited entry-point to grow their business in Southeast Asia is HelloGold, a fintech startup whose mission is to democratise financial products and services for the unbanked and underserved in Malaysia.

“While there are much larger markets than Malaysia in the region, its demographics was right for us — 30+ million population; 1/3rd of which fall in our target age group — in that it was the right size without being too big for HelloGold to test our business model, product-market fit etc,” said Robin Lee, CEO and co-founder of HelloGold

He added, “for fintechs, a conducive regulatory and business operating environment is key. For example, we need to have a definitive view on what is permitted or what is not; on what the process for securing permission is. This enables fintech startups like ours to make informed decisions quickly and move forward. Fortunately, Malaysia is one of these markets where there is legal and regulatory certainty; and where regulators and agencies are highly supportive in listening to and answering our queries.”

The first Shariah-compliant mobile app that helps people achieve financial security

HelloGold was set up in 2015 to change the way investors buy, save, sell, and redeem using physical gold. As a B2B2C operator, it has transacted more than USD26 million in gold for consumers over the past two years. The company also has a strong partnership with major brands in Malaysia and other countries in Southeast Asia, which aligns with the goal to be an integral financial inclusion provider for partners in emerging markets.

“We launched with gold because it is a key building block towards faster financial inclusion — not only because it is one of the 3 most favoured financial products with over USD70 billion saved in emerging markets each year but also because it is also popular among the 18-38 year-old demographic, with 80% showing interest in gold investment,” said Lee. Not only that, but the company is now in the process of bringing to market gold-backed micro-insurance and loans.

Lee added, “HelloGold is well-positioned to support our partners as they build out their financial services portfolio. We manage both the development and maintenance of the digital gold platform as well as the physical operations of the gold — buying and selling of the gold from the market, the safe custody and distribution of the customer’s gold, and the management of the customer’s account. Depending on the partner’s preferences, we can support them with a number of attributes such as gold-specific marketing content, customer on-boarding, cash-out management (as not all e-wallets currently have the ability to enable their customers to withdraw cash).”

A unique model of integrating with e-wallet partners

HelloGold has been doing extremely well after being certified by the AAOIFI (Accounting and Auditing Organisation for Islamic Financial Institutions), which sets the Shariah standards for Islamic financial institutions and the industry.

The company is in a unique position in which it integrates with e-wallet partners. As the digital gold platform which manages the transactions of digital and physical gold, HelloGold can support partners with different attributes depending on their preference — be it lowering the entry barrier for investors to start saving in investment-grade gold with as little as USD0.25, creating gold-specific marketing content or implementing customer on-boarding and cash-out management, all services are made to remove inefficiencies for consumers and to help partners in enabling their focus on their resources to build out an ecosystem that addresses the needs of customers.

Also read: KoinWorks super financial app ecosystem sees growth in Q2 2021 as it helps boost SMEs amidst the pandemic

“Integration into our partners’ mobile applications makes HelloGold’s products more convenient for consumers. It removes the need for one more app on their phones. Overarching this, integration enables our partners’ customers to start to save immediately in investment-grade gold with as little as USD0.25,” shared Lee.

Furthermore, given gold’s traditional role as a simple but effective way to preserve purchasing power, it has a very relevant role in protecting savers in emerging markets from the effects of both inflation and currency depreciation. For example, the 20-year return for gold vs. the ringgit was 685%, equating to an annualized return in excess of 9% against the annual interest of 0.4% or less that is typically offered by most bank savings accounts in Malaysia. More than this, over the same period, the consumer would have been better off buying gold (685%) instead of the KLCI (475%) — even with all the dividends reinvested. This performance against cash and the main equity index is typically repeated not only on a 5-, 10-, 15-, 25-year horizon but also in several other emerging markets.

Pursuing growth in the larger Southeast Asia

One of the best indicators for HelloGold’s determination to revolutionise the fintech space is their recent partnership with Boost, a homegrown lifestyle e-wallet that combines lifestyle needs and cutting-edge digital technology. Through this partnership, HelloGold has made its products more convenient and accessible to its partner’s customer base. This is the company’s first wallet integration which is proving to be quite a feat as the company serves as the first investment tile on the Boost app.

Amidst all these developments, the company hopes to expand across Southeast Asia and, over time, beyond the region. There are three key reasons that make Southeast Asia so compelling — not just for HelloGold but for many fintechs:

• Population: its total population is more than 670 million with a median age of 30 years old and millennials making up 25% of the population
• Financial inclusion: many in the region remain either unbanked or underserved with too many financial products and services that are inaccessible and unaffordable
• Digital connectivity: more than 460 million people in the region are connected to the internet and over 887 million mobile connections.

Also read: India’s first accelerator and VC fund gears up for its maiden demo day series

With the help of the Malaysian Global Innovation & Creativity Centre (MaGIC) under the Ministry of Science, Technology, and Innovation (MOSTI), the company was able to participate in the 2017 Grill or Chill and the 2017 Stanford Go2Market. These programmes have been instrumental in exposing HelloGold to global markets, enabling them to learn key insights and strategies, showcase their groundbreaking products, and network with some of the key players in the industry.

“MaGIC has been proactive in identifying initiatives that HelloGold can participate in to help us build out our presence beyond Malaysia. Like many startups with the usual constraints on people resources, it is great that there is an agency that is looking to support your growth ambitions,” expressed Lee.

As Malaysia’s digital economy continues to grow, we can only expect greater things from local fintechs like HelloGold. Moreover, as the company explores new opportunities across the region, and given their extensive experience in Malaysia’s vibrant economy, we can only anticipate as HelloGold takes the world by storm.

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This article is produced by the e27 team, sponsored by MaGIC

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Bukalapak looks to raise up to US$1B in IPO, could be largest in IDX history; The IPO will be conducted from July 28-30, and shares of Bukalapak will start trading on IDX on Aug. 6; Emtek subsidiary KMK holds the biggest stake at 31.9% in Bukalapak, followed by API Holdings that owns 17.4%, followed by GIC through its subsidiary Archipelago Investment (12.6%).

After Gojek, AirAsia close to clinching 2 more in ramp-up of digital business; AirAsia CEO Tony Fernandez hinted at possibility of future partnerships with GoTo as the company could benefit from AirAsia’s existing travel and logistics vertical; ‘If Tokopedia decided to expand outside of Indonesia, we are a very logical company to carry their goods, he says.

AirAsia fintech arm BigPay to enter Thai market after GoPay acquisition; BigPay CEO says its goal in Thailand is to launch all of its core features, from payments to international remittance; In the coming months, BigPay is looking to launch a number of new services including responsible credit, micro-savings and an offering for micro SMEs and freelancers.

Mental health and startups: Report says founders lack practical strategies for managing stress; According to a whitepaper report by ACE and Safe Space, while 78 per cent of founders highly rated the importance of mental health in their teams, there is still plenty of room for improvement; Male founders in Singapore were seen to be twice as likely to experience a toll on mental health, but are also twice as likely to confide in no one.

Temasek, Warburg Pincus pour US$500M into India’s Ola; Ola said that the funding comes ahead of its IPO plans; However, it did not provide details of the IPO’s timeline or size; The company’s EV unit Ola Electric is reportedly in late-stage discussions to raise over US$300M from Temasek, SoftBank, and Tiger Global, among others.

Singapore’s Temasek in for long haul with in-house startups; As an investor, Temasek has full flexibility to either invest in existing solutions or create new ones, depending on the opportunities it has identified, says Chia Song Hwee, deputy CEO of Temasek; According to data platform Global SWF, Temasek was the top tech backer internationally last year among state-owned investors at US$2.3B.

SEA is the fastest-growing mobile wallet market globally, Boku report says; In Philippines, about half of users prefer GCash over others, while GrabPay is the no. 1 mobile wallet in Malaysia and Singapore; Meanwhile, Ovo takes the top spot in Indonesia, with 38% of users opting for the mobile wallet.

Thai central bank BOT warns against using digital assets for payments; BOT has made it clear that digital assets are not legal tender; In using digital assets as a means of payment, both the player and receiver could face risks such as price volatility, cyber theft, and money laundering.

Lithium: the material fueling the EV revolution; Despite the recent investments, lithium production is not increasing fast enough to meet demand of the EV market and, based on current projections, lithium demand is set to outpace supply by 2027/28; Concerned with the supply of lithium, EV makers like Tesla are making moves to safeguard this critical resource.

Singapore and France test cross-border CBDC payments network; The experiment was supported by JP Morgan’s blockchain-focused business unit Onyx and was the first to enhance efficiency through the employment of liquidity management and automated market-making capabilities; A permissioned, Quorum technology-based blockchain was used to transact across borders between a Singapore dollar CBDC and a euro CBDC.

For Stripe, Asia’s fragmented payments landscape is an opportunity; In Southeast Asia, Stripe is making its mark slowly; It entered Singapore in 2016 and Malaysia in 2019, with a Thailand expansion in the works; It has already garnered a good number of partners, which include the likes of GrabPay and notable startups like SOCAR and FashionValet.

Singapore workers less engaged than their managers think: says study; Only 12% of employees surveyed strongly agree that they “feel engaged” in their overall work experience, compared to 19% of management who think their employees will strongly agree; In addition, only 9% of employees strongly agree that they “feel recognised” in their overall work experience, whereas 18% of management thinks their employees will strongly agree.

Why Malaysia is quickly becoming a cybersecurity hub for the rest of the world; Behind its No. 8 power ranking, Malaysia achieved a top score in three of the five categories used by the UN agency International Telecoms Union; They are a legal framework for handling security and crime; capacity measures based on R&D, education and training; and international partnerships and information sharing.

Top 5 cleantech startups in SEA; The top cleantech startups in the region have proven that sustainability in tech is not only possible but beneficial to all, helping families, companies, big and small businesses, the animal kingdom, and the environment; Though there are impressive breakthroughs all across SEA, recently, the most remarkable innovations are seen in Cambodia, Singapore, and Indonesia.

The future of agritech: Inside Singapore’s vision for food security; Singapore aims to produce 30 per cent of local nutritional needs by 2030; To reach the goal, the country will increase local production of commonly consumed food such as fish, eggs and vegetables.

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Image Credit: airasia Digital

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Pride Month and intersectionality: Why I hope that we will no longer need a special event to celebrate it by Simon Hearn from Distellery

Diversity is embedded in my company’s DNA; our founder Steve is part of the LGBTQ+ community, so when the band’s frontman is leading the chant, it’s very easy for the rest of the team to pick up an instrument and play to the beat.

Great leadership means developing a culture that celebrates individuality, and when you have leaders who represent it we can attract diverse talent.

We know that we need role models to help break down the barriers of entry and for people to see leaders with who they can identify with. It’s like a snowball effect as diversity leads to more diversity. Here are three initiatives from my agency that have helped drive great inclusion at distillery.

Foodtech special

TWG Tea’s founder on how a luxury food brand can tap third party digital marketplaces to expand business by Maranda Barnes, co-founder, TWG Tea

Since early 2020, the pandemic has led to major restrictions on personal mobility. Our experience at TWG Tea in the past 18 months has confirmed our belief that customers increasingly expect to access their favourite brands through both brick-and-mortar as well as online retail experiences.

In 2020, TWG Tea saw growth in every market we have an online presence in. Furthermore, we have noticed that this new online shopping trend is remaining consistent even in instances when social distancing measures are lifted, proving that consumer behaviour has evolved.

Can alternative proteins help build a more secure and sustainable food system? by Xin Yi Lim, Sustainability and Agri Impact at Pinduoduo

Advances in foodtech have made it easier and cheaper to produce animal-free meat and many see cultured meat (also referred to as cultivated or cell-based meat) as an opportunity to diversify our food sources and enable food production closer to consumers. Cultured meat is grown from animal cells and uses fewer resources than traditional livestock farming.

The fast-growing field has attracted some of the world’s biggest companies and top investors. Companies such as Tyson Foods have partnered with cultured meat startup Future Meat, while Mosa Meats counts Google co-founder Sergey Brin among its investors.

New plant-based meats have also become popular with consumers, with startups whipping up new products using anything from soy and pea to jackfruit and algae.

The banking world

Building technology for the AI bank of the future by Senior Partner at McKinsey & Company, Renny Thomas

At many institutions, standard practices now include omni channel engagement, the use of APIs to support increased real-time information exchange across systems, and the use of big data analytics to improve credit underwriting, evaluate product usage, and prioritise opportunities for deepening relationships.

As financial-services organisations continue to mature, the increasing demands on the technology infrastructure to support more complex use cases involving analytics and real-time insights are pushing firms to re-examine their overall technology function.

Once they have committed to modernising the core technology and data infrastructure underpinning the engagement and decision-making layers of the capability stack, banks should organise their transformation around six crucial demands: technology strategy, superior experiences, scalable data and analytics platforms, scalable hybrid infrastructure, configurable product processors, and cybersecurity strategy.

E-commerce for the future: How open banking enables greater security and trust by Diego Rojas, founder and CEO at Finantier

Amidst these eye-boggling statistics, it also means the e-commerce industry would get more competitive as more players enter seeking to get a slice of a growing lucrative market.

Retailers will need to fight harder for loyalty by establishing competitive advantages in user experience. Put simply, the best experience wins.

Besides, the increased adoption of digital services will see e-commerce platforms emphasise fighting online fraud. In 2019, US$260 million was lost to digital fraud in the region, with identity theft (71 per cent) and account fraud (63 per cent) among the leading methods.

This figure, which puts Southeast Asia among the top regions for fraud worldwide, has been largely caused by inefficiencies in identity verification.

The art of blockchain: What is the NFT craze all about? by Rachel Lau, Managing Partner at RHL Ventures

Being one of the most thrown around word of the hour, blockchain, the peer-to-peer network that sits on top of the internet is an open distributed ledger that records transactions between two parties efficiently and can be validated by a selected or public audience.

It features “smart contracts” that are triggered automatically after conditions are met. The advancement of technology has spawned new variations of blockchain technology. Today we explore the latest manifestation of this vanguard, non-fungible tokens (NFTs).

nonfungible.com reported that more than US$2 billion was spent on NFTs in Q121, an increase of 2,100 per cent compared to Q4 2020. Coined as the art of blockchain, NFTs took the blockchain world by storm.

Money matters

How did MoneySmart grow its revenue by 25 per cent amidst a pandemic? by Enricko Lukman, co-founder of ContentGrow

“One of the most effective ways to reach our customers is by making sure that we’re visible with super contextually relevant content based on what they’re looking for at that time,” explains David Harling, CMO of MoneySmart Group. Joining the company in January 2018, David has overseen an in-depth business transformation at MoneySmart, which has helped the company almost quadruple its revenue within three years.

Speaking with ContentGrip, David provides a glimpse into how MoneySmart’s marketing engine operates to drive growth, capitalising specifically on first-party data and original content.

How ByteDance navigates choppy waters as regulatory hurdles delay mammoth IPO by Oleg Spilka, investor, founder and CEO

ByteDance seemingly cemented its intentions by launching a recent share buyback for current and former employees. The buyback comes after the company announced in April that it had no imminent plans for a public listing.

This represents a full reversal after ByteDance had initially planned to list some of its Chinese businesses, including Douyin, a Chinese equivalent to leading social media app TikTok, in Hong Kong, according to Reuters.

To add further uncertainty to the immediate future of ByteDance, the company founder and CEO, Zhang Yiming surprised stakeholders by announcing that he’s stepping down from the company in the wake of increased state scrutiny over China’s leading tech firms.

Can SPACs avoid another reverse merger crisis? by Joseph Hsia, Summer Associate at AppWorks Ventures

SPACs are a form of a reverse merger. Looking at SPACs, It’s difficult not to think of the reverse merger crisis back in the 2000s. The streamlined process of the reverse merger and the access to US capital markets attracted more than 150 Chinese companies to this route from 2007 to early 2010 (PCAOB, 2011).

Many of these target companies were with the quality, but a more relaxed regulatory environment did leave some grey areas for certain issuers to commit fraud. Eventually, dozens of listed companies through reverse merger were either delisted or halted from trading based on claims of fraud or violations of US securities laws, and a number of others were targeted by short-sellers.

10 lessons from building a niche, profitable Shopify app in 12 months by Zenos Schmickrath, entrepreneur and tech enthusiast

Inspired, we decided to build a public Shopify app that levels the playing field for independent eyewear brands, allowing them to compete with larger retailers.

Development began in June 2020, and we launched LensAdvizor on the Shopify App Store three months later. By June 2021, we were profitable with monthly revenues growing over 20 per cent a month.

Here are ten valuable lessons I learned from this experience.

Why Malaysia is quickly becoming a cybersecurity hub for the rest of the world by Andrew Rossow, Attorney

Malaysia’s first cybersecurity policy dates back at least 15 years, giving rise to what is today’s Critical National Information Infrastructure – a portal for sharing information and a coordination and command centre that addresses the nation’s cybersecurity crises, evaluating threat levels on a regular basis.

One of the most appealing aspects of the country’s model is X-Maya, annual drills that are run to test the nation’s readiness and ability to address security incidents.

While this isn’t necessarily unique to the Asian nation, the ongoing assessment and commitment to running these drills demonstrate the nation’s ability to continue growing its position as a cybersecurity leader.

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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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As the app market becomes more saturated, it’s becoming harder and harder for apps to stand out among their competitors. Business of Apps recorded that currently, iOS users can choose from over 1.85 million applications. With 2.56 million apps available through the Google Play Store, Android users have even more options.

App developers spend an average of US$3.52 to acquire app users to register or create an account in an app. However, it is said that not all of these users will stay and use the app.

As much as 25 per cent of users tend to abandon an app after one use, only 32 per cent of users return to an app 11x or more. Why is that so?

While app developers go full throttle on their app user acquisition, they fail to realise that they need to prioritise how they can engage and eventually retain their users in this stiff competition –a concept known as user retention strategy.

After all, it takes five times to acquire new customers than to keep one. This number just shows how a clear user retention strategy can be a powerful tool to ensure the success of an application.

User retention is a significant factor in determining the success of an app. If you have an active user base that stays engaged with your product, you are more likely to retain those customers and increase your in-app revenue.

A study found that a five per cent increase in customer retention produces more than a 25 per cent increase in profit. Further, 65 per cent of a company’s business comes from existing customers.

Also Read: Why building user communities is far better than paid advertising

So how can you ensure user retention for your application? Integrating engaging features to help attract and keep users coming back for more might just do the trick.

Social media as the inspiration for your user retention strategy

If we look at today’s most popular applications, there is no doubt that social media platforms dominate the app market — and for the last ten years at that. Based on App Annie, nine out of 10 most downloaded apps have been social media platforms in the past decade.

However, it doesn’t just end there. The prominence of social media continues as more and more people sign up on these platforms. According to Hootsuite’s Digital 2021 Report, social media saw an increase in its users by more than 13 per cent over the past year, bringing the global total to nearly 4.2 billion.

While many social media sites are popping up, users don’t seem to mind signing up on almost all of them. People are comfortable interacting with users from various backgrounds through social media platforms.

The universal desire to socialise, share opinions, and be part of a community where they can be their authentic self is something humans crave — precisely what these social media apps provide.

The innate social nature of humans gives these platform providers a reason to capitalise on this. In a world that is increasingly reliant on digital technology, social media apps have provided a way for people to network and engage on a large scale previously unimaginable offline. By replicating our physical interactions virtually, they allow users to establish connections for socialising anytime and anywhere.

Also Read: How not to build a bot: 3 steps to a cringeworthy chatbot experience

Social will transform your app’s experience

Seeing these results, app developers and companies are catching on. They have noticed the power of social media as a platform and started incorporating social experiences into their apps to increase engagement.

Low-cost airline company AirAsia has launched their super app, a refreshed iteration of their platform travellers worldwide are familiar with. Intending to have an app that users open daily for all their travel and lifestyle needs, AirAsia wanted to connect people to destinations, people to people, and people to all kinds of travel-oriented services.

To increase engagement within their application, they implemented chat features that allowed users to connect while simultaneously fostering communities in-app despite not being able to go on trips due to the pandemic.

It wasn’t long before they saw the results. The number of chat users grew from 2,000 in the first month to over two million by the end of 2020. And new users keep coming every day.

On top of that, AirAsia’s platform became a hub for creating communities, collecting valuable information to improve their services, and offering direct support to their users even when they are not travelling.

Along with AirAsia, there are also numerous successful examples of apps that have integrated social experiences. We see this with GooglePay, which also integrated in-app chat in its platform.

Also Read: 10 lessons from building a niche, profitable Shopify app in 12 months

Beauty giant Sephora also utilised user-generated content (UGC), such as reviews and make-up tips, to empower the communities on their platform.

Instead of hosting their customers on other platforms, where users and communities are spread across different applications, these companies opted for in-app social features to boost their user experience, in-app engagement and stay ahead of their competitors.

Time to integrate social experiences for user retention

How do you then translate this to your app?

If you already have an app and want to make sure that your users keep coming back to your platform, adding these social features to your application might be an untapped solution to help you reach your app’s full potential.

Here are three ways  you can enable social experiences on your app:

• An in-app feed can be a great way to connect users with the most relevant content. The use of app-based algorithms allows you to display the content you and your fellow users create. You can also enable comments, reactions, and the ability to share across your platform to ensure continuous app engagement. Implementing these solutions will keep them interested and scroll endlessly, thus, spending more time on your app.
• Your platform could benefit significantly from features that enable users to stay connected, such as 1-1 and group chats, allowing them to have more efficient and organised conversations. And to provide a better user experience, you can utilise in-app messaging features such as live chat using a chatbot to provide 24/7 support, especially if they need a quick response.
• Turn your app into a community platform for users to connect and share what they’re passionate about using in-app groups. By fostering a sense of community where they can express themselves and share their thoughts with like-minded peers, they’re more likely to keep using your app. Groups also give them a reason to continue returning to your application, increasing app stickiness, user engagement, and retention on your platform.

The future of your app is social

Your app must now start exploring uncharted solutions in the rapidly changing digital landscape to make sure your app survives in this highly saturated app industry. Integrating social experiences similar to those from today’s top social media platforms can help secure you a win in this fierce competition.

Also Read: Why fintech companies should learn about customer retention from e-commerce companies

Integrating social features that enhance in-app connections can replicate their success on your platform. And by adding them, you can create lasting, meaningful relationships with your users, and at the same time, allow them to keep in touch with those with whom they share interests.

Providing social experiences in your app as part of user retention strategy ensures that users return to the platform, drive engagement, increase in-app retention, and open up new revenue streams for your application. And with that, securing an advantage to win your market and stay in the game for years to come.

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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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The world’s most successful and innovative tech startups hail from Asia. Tencent, Alibaba, Taiwan Semiconductor and Grab are just a handful of examples.

However, hidden in the shadows thrown by these brilliant successes is a far larger group of Asian tech startups: those that fail.

In my experience, most investment and industry insiders estimate that about nine out of every 10 Asian startups will fail to reach their fifth birthday.

I have the privilege of examining hundreds of fundraising memorandums from Asian startups each year. I also have extensive experience on the board and in the C-suite of successful technology companies such as the Australian unicorn, the REA Group.

Here, let me walk you through the three most common reasons Asian tech startups fail and how founders can avoid them.

Not solving a real problem

Failure to solve a real problem for other people is also known as a “lack of product-market fit.” That is startup jargon for “no one wants to buy what you are trying to sell.” You don’t need an MBA to understand that your business can only succeed when people are willing to pay you real money.

In Asia, too many technology entrepreneurs rely on imported business models or overemphasise the use of technology. It’s natural to look at other markets such as China or the Western World for inspiration.

Unfortunately, when founders bring ideas into emerging Asia, they are tempted to overlook how different local needs can be. 

Also, while North America or Europe are advanced in some aspects, that is not always the case. Asian companies are on the cutting edge in social commerce, super-apps and 5G.

Also Read: How fintech startups can fast forward their growth

There are also gaps among the various Asian markets themselves. Indonesia, Malaysia, and Thailand have much in common but offer very distinct challenges for any business. 

If you hope to import a business model or a technology, do your homework to make sure it can succeed before you tie the success of your entire enterprise to it.

At Juwai IQI, for example, we discovered that there is no common and established platform that enables real estate agents to do their business in Asia’s developing markets.

This kind of enterprise resource planning and customer relationship management software is easy to find in nearby Australia and New Zealand or the US. Still, we decided not to import a solution developed elsewhere.

Instead, we have created a proprietary platform for our more than 21,000 agents. Each of them literally carries an entire real estate office in their mobile phone.

The functionality may not be as deep as in more mature markets, but it is very wide and solves a real problem for our agents. It also makes them more productive as a result, and we can improve the offering over time.

Obsolescence before launch

As risky as it is to import a business model from another place, it can be just as dangerous to adopt one whose time has passed. Although startup founders are supposed to be the most forward-looking of businesspeople, they regularly create online businesses that are already out of date before they even launch.

In most of Asia today, any new business that depends on reaching users via the web —rather than through social media or super-apps — is probably obsolete.

Older technology such as websites, standalone apps or messaging via SMS are still widely used in many Western markets, but life in Asia has moved on.

Also read: e27 Discussions, my first startup was a failure but I want to start another one, how can I do better this time round?

Today, most consumers are not surfing the web in the same way we did 10 or 20 years ago but are scrolling through social media. They are not downloading apps from every company with which they have a relationship. Instead, they are connecting within the supportive environments of super-apps such as WeChat and Grab.

Social commerce is a combination of social networking and live streaming. It took Alibaba’s Taobao Live just 30 minutes last year to transact US$7.5 billion in sales during pre-sales for Singles Day. 

Super-luxury brand Louis Vuitton is famous for controlling its image and every aspect of the consumer’s experience of its brand. Yet, it was the first large luxury brand to cede a measure of control by marketing its wares in the free-for-all of Xiaohongshu, the word-of-mouth community shopping forum also known as Little Red Book.

Very few products cannot be sold via these new channels. Automobiles are significant purchases that consumers have traditionally wanted to experience in person. Yet, even car buyers now start their search on social media.

At Mobil123.com’s virtual car expo in August of 2020, consumers bought cars online from BMW, Honda, Mazda and MG. (Full disclosure, I am Chairman of iCar Asia, Mobil123.com’s parent company.)

If you want your business to succeed, go to the consumers on the platforms where they already spend their time.

Tech startups failing to be sustainable 

The next failing that leads many Asian tech startups to crash and burn is a failure to build a sustainable enterprise. Your solution must be profitable —or at least offer the potential of attaining profitability at scale. Otherwise, you are solving a problem but not creating a business.

Even startups losing billions and having no short-term plan for profitability are only viable because of their future potential. Chinese ride-sharing giant Didi lost US$1.6 billion last year. But Didi has already shown that it does solve a problem.

Moreover, consumers are willing to pay for this solution – to the sum of more than US$21 billion last year. Investors know Didi is invests every dollar it can into additional growth, and that will likely pay off in greater profitability later.

Also read: From Archives: Why do startups fail: Part 1

Your business, too, must be sustainable to succeed.

These problems are not unique to Asia. In fact, they are the same challenges that cause so many tech startups to fail all over the world. Asian markets, however, are particularly competitive and fast-moving, and that leaves founders and investors here even less room for error.

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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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Seventy-five per cent.

According to the survey by The Hartford, that is the rate of workplace millennials will occupy by 2025. They are tech-savvy and self-expressive team players unwilling to follow the “boss-subordinate” algorithm. Striving for constant improvement, they need a leader who could motivate and be a role model for them.

And while it’s common to see 23 to 30-year-old entrepreneurs and startup-ers who are millennials themselves and supposed to set the corresponding leadership style, some aren’t yet emotionally intelligent enough to deal with their ambitious and mindful mentees on the way to business success.

In the post-COVID-19 world, when so many people became more self-aware and revised their life and career goals, emotional intelligence turns to be even more essential in the workplace.

With remote work from homes, the ability to recognise, evaluate, and control mentees’ sentiments is critical for responsible leaders to master.

Here’s what young entrepreneurs and team leads can do to get the ball rolling:

Practicing correct emotions in team communication

Good and bad leaders alike use their emotions to control mentees. The difference lies in harnessing them. Yelling at team members can instill fear or annoyance while motivating and inspirational words can turn them in your favour. 

Communicating with the workforce, leaders need to pay attention to emotional words they use in both oral and written language. Some can tear away your sensitive mentees, while others make them want to complete a task and excel.

Just compare:

“Jack, complete this report by Friday so I wouldn’t have to rewrite everything. You don’t want to get penalised for a failure, do you?”

With:

“Jack, could you help us, please? The manager asks for a stellar report with no weak spots. As far as you’re our best analyst, I decided to ask you. Would you complete it by Friday?”

Also Read: How early-stage startups can build a thought leadership strategy

Using emotional arguments

Given that it’s emotions rather than logic that rule our decisions, leaders who try persistently to persuade mentees with nothing but solid arguments may often fail. The team will listen to you, nod their heads, but yet adhere to their own opinions.

Take iPhone sales, for example. While Apple releases their new products long after Android, their sales exceed others so far. It happens because customers have gained an emotional attachment to Apple’s products.

The same is true for leadership:

If willing to persuade their workforce, partners, or clients to follow and advocate their brands, a leader needs to draw them emotionally. With lockdowns from the pandemic, it’s pretty challenging to instill a sense of purpose and drive people to reach outside their comfort zones.

Cultivating the traits like motivating, teaching, and trust in others can help modern business people become emotional leaders everyone wants to work for.

Resonating with others in a leadership

Outstanding leaders are those able to resonate with mentees. The business word “synergy” fits here best: A leader needs to become one unit with their workforce on the emotional level, which leads to more efficient collaboration and coordination.

Good leaders ask themselves, “What do my mentees feel when leaving the office or the work chat after the talk with me?” No inspiration, motivation, or at least mirth is a bad sign.

Training social intelligence

Social intelligence, aka empathy, is our ability to listen and understand others. A “father” the emotional intelligence concept, Dr. Daniel Goleman describes it as “the ability to build relationships and navigate social environments successfully.” It includes teamwork, conflict resolution, coaching, training, and enthusiastic leadership, influencing our business and personal relationships.

To develop it, leaders should, first of all, find out if their current levels of social intelligence need further training and improvement. Psychological tests and corresponding online quizzes can help here.

Also read: Why we should embrace a startup mindset in today’s volatile economic climate

The first step to better empathy is learning the psychology behind body language to “read” dialog partners and practicing good eye contact when speaking and listening to team members.

Then, leaders need to try developing so-called proto-conversation skills. It refers to the ability to read between the lines and understand a person’s mood by their gestures, voice intonations, and micro-expressions.

Avoiding the carrot and stick approach in leadership

For entrepreneurs and leaders who haven’t yet read Paul L. Marciano’s Carrots and Sticks Don’t Work, it’s high time to start. This approach refers to the belief that proper and productive behaviour is possible to induce through sequencing reward and punishment. 

As far as you understand, it doesn’t work. In his above-mentioned book, Dr. Marciano proves that hair-raising tactics can’t motivate us to change habits, behaviours, and attitudes towards something.

For modern leaders to win respect and motivate mentees, it’s critical to know each team member individually and how best to encourage them. Creating an atmosphere of open, honest, and positive communication would be a great start.

This atmosphere includes unconditional acceptance, trust, constructiveness, confidentiality, and equality.

Getting ready for own transformation

Good leaders are those open to transformation and aren’t afraid of getting new traits. Asking themselves what kind of emotional leaders they want to be would help decide on characteristics to develop.

Some leaders may be practicing flexibility or sympathy; others will train the ability to listen and hear their team members; some may decide to develop traits like coaching, motivating, and inspiring others through vision and mission.

What we all need to remember is that changes happen to those who do, not those reading tons of blog posts and promising to try described tactics “one day.”

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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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