Aichi Prefecture with its capital at Nagoya forms the core of the third-largest metropolitan area in Japan and one of the largest in the world. Located in Japan’s Pacific Ocean coast, Aichi is home to the world’s largest automaker, Toyota Motor Corp, along with manufacturing heavyweights such as Fuji Heavy Industries, Mitsubishi, Aisin Steel, Nippon Sharyo, NGK Spark Plugs — all of which have manufacturing plants in the region. 

Aichi Prefecture has been the number one prefecture in Japan for 43 consecutive years in terms of the value of shipments of manufactured goods and the prefecture continues to lead the world in what the Japanese call “monozukuri” (manufacturing). Aichi has been traditionally strong in the automobile, aerospace, steel, and robotics industries.

As technology and startups disrupt conventional industries, Aichi Prefecture continues to challenge itself with passion for future-looking innovation. Aichi Prefecture is known for its love of new knowledge — always looking to explore, create, and disseminate new knowledge to the world. Both historically and in the present day, the prefecture continues to be driven by a mission to produce leaders with new knowledge and innovate to meet the new challenges in building sustainable cities of the future.

The co-creation challenge

The new co-creation challenge programme sponsored by Aichi Prefecture along with Singapore Innovation Ecosystem partners and ICMG as acceleration partners is on the lookout for startups interested in participating in the co-creation challenge. 

The programme will focus on co-creating with select Japanese partners, “new knowledge” on solving three broad challenges for Aichi Prefecture to build on its manufacturing expertise and lead the development of the Smart Sustainable City of the future.

Also read: IES-INCA partners with e27 to support deep tech innovators

Divided into these broad areas, the Aichi Smart Sustainable City Co-Creation challenges are aimed at searching for innovation partners who can help pave the way to a more sustainable and productive future for our cities and communities.

These three categories for entry into the sustainable city co-creation challenge are:

Industrial development in Aichi Prefecture through digital transformation

The aim is to help improve the way we work with solutions that utilise the use of Toyota Industries Corporation’s  Autonomous Mobile Robots “AiR”

In this challenge, the selected partners can co-create through utilising the capabilities of the autonomous mobile robot “AiR” developed by Toyota Industries Corporation. While currently used in the industrial sector, there is a lot of potential to expand the utilisation of AiR.

Startups who have solutions in medical care support, assistance for the elderly or people with disabilities, retail and tourist experience improvement, and more that can utilise AiR in improving public well-being and experience are invited to join the challenge.

Co-creation of a sustainable municipal policy model by diverse players for a declining population

The aim is to develop ideas for building and delivering a sustainable municipal management model in a society with a declining population.

Partner Handa City aims to improve the attractiveness of the city by taking on the challenge to make a structural shift from the current urban model. To replace the old model built on the back of population growth and a high-growth economy, they need a sustainable urban model that is appropriate for the society of the future.

Also read: Blue skies for Malaysia’s drone industry with Aerodyne

Startups who have solutions that could revitalise Handa City centre (events, activities, entertainment), reform how teachers work, offer alternative learning methods for students, improve the productivity of agriculture, make agriculture more attractive and accessible to the younger generations, offer next-generation park management, and other solutions aim to realise the goal of a Smart Sustainable City is encouraged to join the challenge.

Creating a community where everyone thrives throughout their lives with high levels of well-being

The goal is to create  IT-based detection and support for young caregivers to improve the well-being of Aichi Prefecture’s residents.

Partner NGK Spark Plug aims to transform its business portfolio by developing advanced sensing technologies as well as other solutions to aid in improving the well being of Aichi Prefecture’s residents. 

Startups with solutions – whether hardware, software, or others – that could improve elderly care in their homes with the help of technology, record and detect abuse in the home, provide quicker access to emergency assistance, connect young caregivers at an early stage with appropriate support organisations, and more are invited to join the challenge.

Scale up your solutions by joining the Aichi Co-Creation challenges

Startups who are selected would get the chance to work with the organising team in validating your solution’s product fit against an existing market’s opportunities and present to Aichi Prefectural Government for a collaboration opportunity and a chance to expand to Japan.

Join the challenge and get the chance to build and launch your product to a ready market in one of the world’s most advanced economies.

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

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The COVID-19 pandemic has upended the technology industry in ways both good and bad. Which companies will thrive as we begin to put the pandemic behind us?

Surprisingly, the answer is those companies that permanently embrace the changes imposed on them by the pandemic. Tech companies that are hoping for a return to “normal” are going to be disappointed.

This is no time for nostalgia for 2019. The risks and opportunities are too great.

Organisational transformation

Transformation is the key to success in 2022 and beyond.

Yes, the pandemic accelerated digitalisation in businesses of all sorts. But digitalisation is not just about using technology, as IBM pointed out in a report about the future of business earlier this year.

The lowest-impact technologies are simple tools that enable greater efficiency at discrete tasks. Still, technology executives with more vision are going beyond such small steps to embrace solutions that enable the transformation of their entire organisations.

What does this mean in the real world? In the real estate industry, it is the difference between a virtual tour and robust CRM software. The former is just an improved version of property photos. Virtual tours add some functionality, but organisational transformation? No.

On the other hand, adopting the best CRM software, like VaultRE, a top offering from Australia, can completely transform a real estate agency. A good CRM will integrate previously siloed parts of your business, multiplies the value of your data, and frees your team members to focus on the things they most enjoy and that create the most value.

Even technology industry leaders can be myopic when it comes to digitalising their own operations. You might sell the world’s most advanced product in your field but fail to take full advantage of what technology can do for the way you run your business.

Also Read: COVID-19, the environment, and the tech ecosystem: what opportunity is available out there for us?

This is what one insider meant when he described Apple as “Jetsons on the outside and Flintstones on the inside.” Apple’s phones and computers are marvels of innovation, but it was only recently that Apple employees gained the ability to chat with one another on a tool such as Slack or Teams.

E-commerce eats the world

Famously, e-commerce giant Amazon started out selling books. E-commerce today, however, is eating the world. It is not just books or fast food anymore. In the post-pandemic era, all goods and services are moving towards e-commerce or the omnichannel model.

When I say “all goods and services,” I do mean “all.” Whether your business is fashion, architecture, or healthcare, a growing portion of your customers and clients demand the ability to buy and receive your goods or services through digital platforms.

You can embrace this change and thereby improve efficiency, profitability, and scale. Or you can resist it and lose out to competitors.

Exactly how you transition from in-person to omnichannel will depend on your business and your industry. Whatever method you adopt, make sure you focus on the key performance metrics of convenience, customer retention, and fulfilment.

Let’s look at healthcare as an example because it is the industry that most observers expected to be the last to go online. Thanks to the pandemic, the remote delivery of health care is now an everyday reality worldwide.

Consumers now expect to see their doctor or nurse when it’s convenient and safe, whether that means going to the doctor’s office, been visited at home or being served remotely.

Experts believed that patients would not be satisfied with remotely delivered healthcare because they would insist on warm interaction with another human. However, the reality of the healthcare industry is that the quality of the patient experience at healthcare visits is far below what it once was. It turns out that remotely visiting your doctor does not necessarily compromise the quality of the interaction.

Also Read: How technology and healthcare can work together in a post-pandemic world

This is why consumers using virtual visits climbed in the USA from 15 to 28 per cent between 2019 and April 2020. It’s why 80 per cent of consumers who have tried a virtual visit say they are likely to do it again, even after the pandemic makes in-person visits possible.

You may feel there is no way for your business to adopt an omnichannel model like healthcare has. However, if you don’t solve the challenge of this transition, without a doubt, one of your competitors will.

Working remotely

If your doctor can treat you remotely, then surely many of the team members you employ can also do part of their jobs from home.

A Boston Consulting Group survey in the first quarter of 2021 found that nine out of 10 people globally want to work remotely on an ongoing basis at least part of the time.

The surveyors interviewed 209,000 people in 190 countries. They found that relatively few people want to work from home full-time.

The US is the only developed country to be an exception to this rule, with more than one-third of Americans seeking 100 per cent work from home status.

In Asia, only eight per cent of Chinese workers say they would be willing to work from home full time, and China ranks 43rd out of 45 countries on the list of fully remote work preferences. The Philippines has the highest preference for full-time or occasional remote work, with only about three per cent of the population wanting to be in the office full-time after the pandemic.

In Malaysia, two-thirds of respondents would prefer occasional remote work. Almost four out of every five respondents want to work at least part of the time remotely in nearby Singapore.

The preference is not limited to coders and consultants. Still, it is shared by people in professions where working from home has not traditionally been an option, including services, manufacturing and social care.

The lesson for technology businesses that want to thrive after the pandemic is clear. Give your workers the flexibility and autonomy to choose a schedule that lets them work from home at least part of the time.

You may be surprised by the results. According to a recent academic paper, the increase in remote work is expected to boost post-pandemic productivity in the US economy by five per cent.

Also Read: How iStore iSend builds a relationship with potential investors in this pandemic

What role will your physical office play in a world where many of your staff work two or three days a week from home? Rather than simply a warehouse for people, your office can become a space for collaborating and problem-solving.

The experience of messaging app company Slack is indicative. Slack considers the office one tool in their toolkit and suitable for getting specific work done. Their team members might come into the office three times a week with plans to meet with colleagues and brainstorm or collaborate in person.

Organisational transformation, omnichannel delivery and flexible remote working strategies are three strategies that will help nearly every technology company thrive after the pandemic in 2022 and beyond.

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VE Capital Asia, a Singapore-based management consulting and deeptech company, has announced the acquisition of three local startups — Web Imp, Cashapon, and TechVenture Pursuit (TVP) — for a total of US$37 million.

With these acquisitions, VE Capital expects its revenue to increase by US$11 million.

Founded in 2014, Web Imp guides businesses in enabling digital transformation through intuitive UX/UI design, reliable web and mobile development, and cost-effective digital marketing campaigns. This acquisition was made in May this year.

Cashapon acquires and elevates leading brands in the retail e-commerce market using AI and ML technology.

TVP is an automation builder and service provider specialising in enterprise productivity, redesign, and automation solutions. The company expects to be able to venture deeper into the region to serve companies that require scalable IT solutions.

The Cashapon and TVP deals — closed in August — aim to strengthen VE Capital in AI, Machine Learning, Internet of Things, and automation.

Also Read: S’pore budget 2021: Increased support for deeptech, enhanced venture debt programme for startups

VE Capital Asia CEO June Yong said: “As enterprises rush to digitise and stay relevant in light of this pandemic, VE Capital Asia is on track to establish itself as a trusted one-stop tech integrated solutions provider through the recent acquisitions. We are currently undergoing negotiations to acquire several deeptech firms in the region to become a leader in this space, helping companies make a smooth and cost-efficient transition into the new normal.”

VE Capital Asia supports a wide selection of corporate and SME clients, both local and international. Notable partnerships include the development of a fully optimised deep technology software and IoT & hardware automation with Sheldon Group.

Another partnership includes the development of a group-buy grocery e-commerce platform for Prime Supermarket. The platform allows the company to introduce e-commerce and group buy features to shoppers and provide the group with seamless management of offline and online sales and vendor payouts.

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Image Credit: Web Imp

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Surer, a Singapore-based startup providing a cloud-based platform for insurance firms and intermediaries, has raised US$1 million in seed funding.

Norwegian investor Kistefos, Markel Corporation’s insurtech investment arm Markel Digital Investments, and an unnamed angel invested.

Surer intends to use the fresh funding to bolster its core technology platform and strengthen the tech team to realise its product roadmap.

“We aim to solve the problem of a huge mismatch in demand and supply in a US$1.7 trillion general insurance industry,” said co-founder Gordon Tay.

Surer was founded in 2020 by Tay, Derren Teo, and Renfred Tay. They have earlier held different positions in PropertyGuru and Carousell. Previously, they also worked in major insurance companies, including AIG, MSIG and QBE.

Surer aims to create a fully connected digital ecosystem where insurance intermediaries and insurers can leverage its technology to streamline workflows, processes, recruitment and distribution of products.

Also read: Why now is the right time for disruption in the insurance industry?

Surer claims that it helps drive network orchestration, efficient communication and transmission of information to help intermediaries and insurers better serve the end policyholders. “That drives a ‘triple-win situation where policyholders can be served with greater quality because of a highly efficient intermediary sales force that can now scale their business without impediments,” added Tay.

Since its inception, Surer claims to have clocked 350 intermediary signups and demo requests. More than 1,000 insurance proposals have been sent, and over US$887,148 in gross written premiums are transacted on the platform.

The startup expects to achieve the GWP surpassing the US$1.5 million milestones by the end of 2021.

In 2020, global insurers suffered from a loss of around US$55 billion due to COVID-19 and looked for digitisation solutions to better serve their customers in a new context. Buoyed by this surging demand, global investors funded insurtech firms to an all-time high of US$7.5 billion last year and were expected to accelerate in the Southeast Asia market in 2021. 

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Image Credit: Surer

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EI Industrial, a Vietnamese industry-focused B2B e-commerce platform, has raised a US$670,000 seed financing led by Cocoon Capital, with participation from Beenext.

The e-commerce firm will channel the funding to build a “faster and more user-friendly” technology platform. Besides, EI Industrial intends to expand its sales, marketing, and technology teams to drive rapid growth.

“We founded EI Industrial with the target to help develop Vietnam’s core industry through technology,” said co-founder and CEO An Phi Ho. “Vietnam has been one of the fastest-growing economies in the world in recent years, and small and medium-sized private businesses are the backbone of the economy.”

Also read: Are B2B marketplaces finally entering their boom time in Asia?

Launched in 2020, EI Industrial provides a SaaS e-procurement and warehouse management system (WMS) to help manufacturers and construction businesses manage their purchasing processes. It currently focuses on the MRO (maintenance, repair and operation) and M&E (mechanical and electrical) supply sectors.

The tech company offers purchasing officers a variety of vendors and deals available on a free-to-use platform, allowing them to digitise and maximise customer outreach across Vietnam. 

The startup also guarantees an appropriate delivery and payment route for both parties.

“EI Industrial strives to help businesses and vendors improve their productivity and profit margins,” Ho added.

The platform counts Esquel Group, Heineken, Toshiba, Olam, Aqua, Oishi, Wahl, and Central Group among its 500 clients in Vietnam. To serve the mounting demand, it also partners with more than 300 retailers, including Schneider Electric, Bosch, Honeywell, and 3M.

As per a press statement, El Industrial is on the way to accept and open hundreds of online stores for new sellers in 20 existing categories, aiming to gain over US$1 million in stock-keeping units by the end of 2021.

According to Vietnam’s Ministry of Planning and Investment, SMEs make up 98 per cent of all businesses, accounting for 45 per cent of the country’s GDP and 63 per cent of employment. 

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Image Credit: EI Industrial

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