LinkAja, one of Indonesia’s well-known fintech apps, announced today it has received an undisclosed strategic investment from ride-hailing giant gojek.

As per a press note, this deal brings LinkAja’s funds raised in the ongoing Series B round to the excess of US$100 million.

Interestingly, this announcement comes less than four months after the payments firm raised an investment from gojek’s close rival Grab as part of the ongoing round, with participation from Telkomsel, BRI Ventura Investama and Mandiri Capital.

The collaboration is aimed at strengthening the adoption of digital financial services and accelerating financial inclusion in Indonesia.

This integration builds on gojek’s existing partnership with LinkAja, which included payment for transportation and ticket reservation services.

As part of the partnership, LinkAja will be included as an additional payment method on the gojek app.

Also Read: gojek-Tokopedia impending merger. Is it a win or loss for Grab?

LinkAja, formerly known as T Cash, was launched as a scan-and-pay service by government-owned telecom giant Telkomsel.

In the current form, LinkAja is primarily focused on digital payments for retail, public services and other daily needs, with 80 per cent of its users coming from tier 2 and tier 3 cities.

“We are excited to have gojek join us as a  shareholder, following the investment made by LinkAja’s other prominent shareholders in our Series B fundraising. This investment provides LinkAja with greater access to the gojek ecosystem, which will further support LinkAja’s purpose to accelerate financial inclusion in Indonesia,” LinkAja CEO Haryati Lawidjaja said.

“The COVID-19 pandemic and its far-reaching impact have emphasised the importance of digital payments in our daily lives, which makes this collaboration especially timely. With LinkAja as a strategic partner, we hope to reach out to even more businesses and consumers and give them new ways to transact,” added gojek co-CEO Andre Soelistyo.

The fintech industry in Indonesia, the largest market in Southeast Asia with a number of unbanked and underbanked population, saw massive growth over the past few years. In the payments space alone, there are more than 60 companies. Among the major players are OVO (in which Grab is the largest shareholder), GoPay (owned by gojek), 2C2P, PayFazz, iPay88, and Shopee Pay. —

Image Credit: LinkAja

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Long gone are the days when femtech startups were only confined to products catering to female reproductive health.

Quoting American seed fund Rock Health, “We shouldn’t have to say it, but here it goes: women are so much more than their reproductive organs and the opportunity extends beyond the connotations of the widely-used term ‘femtech’ and see an untapped market capable of supporting the diversity of women’s experiences.”

Sure enough, the current sector has an interesting mix of market participants including startups who are not just providing digital health solutions for women’s health but also catering towards women empowerment in general.

The global femtech industry poised to grow at over US$3.04 billion by 2030, however, there have been concerns the sector has been growing at an unusually slow rate.

Experts still believe femtech sector promises plenty of profitability but for it to truly grow, the investment world and tech developers need to be “more aware and focused” about the opportunities that the industry brings.

This is why e27 is proud to present you a list of the most notable femtech startups in Southeast Asia, completed with lists of organisations that aims to empower women in tech and a bonus list femtech companies in Asia.

Companies that are building solutions for women

1. theAsianparent (Singapore)

The Singaporean company started as a parenting blog and has since evolved into a multinational tech company and digital publishing house that focuses on content and community platforms for Asian women. Its main goal is to help parents have healthy pregnancies and raise healthy children and families.

Recently, theAsianparent launched a new feature on their mobile app that aims to help reduce stillbirth rates in Southeast Asia.

With over 30 million monthly users on its website, it is undoubtedly one of the most successful femtech companies in Southeast Asia.

Latest funding: Undisclosed funding from SCB 10X.

2. Lucy (Singapore)

An online digital bank that aims to empower women (largely migrant workers and home business owners) through its financial services specially catered for women.

Its offerings include easy loan management, international money transfer, no-interest salary advances, and mentor support.

Latest funding: US$377,000 in pre-seed funding.

3. Rags2Riches (Philippines)

A design house that helps women in poor communities in the Philippines make a living out eco-ethical fashion by using upcycled scrap cloth, organic materials, and indigenous fabric materials. Its products are sold via an online platform called Things That Matter.

Latest funding: US$133,000 via government grants.

4. Sehati TeleCTG (Indonesia)

An Indonesian health-tech company that improves infant and maternal mortality rate through its in-built device low-cost fetal monitor device, TeleCTG.

Also Read: Meet the 30 women entrepreneurs selected for Zone Startups’s empoWer programme

Its device is able to deliver data from remote locations to an obstetrician/gynaecologist (OB/GYN) based in a hospital in the city, who then analyses the output and provides feedback.

Latest funding: Undisclosed

5. Fig Health (Singapore)

Fig Health helps expectant mothers book in-home fertility screening tests. Besides that, the company also provides in-home services to identify hormonal imbalances and nutritional deficiencies.

According to the company, the platform does not replace the doctor-patient relationship but rather provides informational and emotional support that helps women have more informed discussions with their practitioners about their health concerns.

Latest funding: US$100,000, Antler

6. Hannah Life (Singapore)

A Y-Combinator-backed fertility startup that helps couples get pregnant and conceive in a clinically proven manner.

Latest funding: US$2 million

Organisations that are empowering women in tech

1. 21st Century (21C) Girls (Singapore)

Founded in 2014, 21C Girls organises coding lessons for girls aged from eight to 15 and AI initiatives for youth aged from 16 to 22. Its two main courses are “Code in the Community” and “Empower”.

The first programme is a Google-sponsored initiative that aims to bring free coding classes to young Singaporeans from deprived backgrounds. While the other is a national movement that teaches Singaporean youth AI and data science techniques.

Latest funding: Undisclosed]

2. She Loves Tech (Singapore)

An organisation that hosts global competitions for women in tech with the objective of closing the funding gap for female entrepreneurs.

The winner of the competition receives financial support, education, and mentorship support from the company’s network and partners.

Latest funding: Undisclosed

3. The Codette Project

An organisation that aims to empower Muslim and minority women in Singapore with awareness and access to tech. It hosted workshops, meetups, and hackathons to help Muslim and minority women learn programming and problem-solving skills in a safe environment.

Latest funding: Government grants, donations, Facebook Community Leadership Programme (2019)

Also Read: Breaking the glass ceiling: These 6 women are making their marks in deep tech field

Notable mentions: Femtech companies from outside of SEA

1. Coly (Japan)

A company that makes anime-based games targeted at women. Despite never taking VC capital, the company has recently gone public.

The seven-year-old company creates games that unlike other games don’t have the usual aim of winning but instead gives users the thrill through its storyline and characters.

According to a Bloomberg article, three-quarters of the studio’s 200 employees are women.

Latest funding: US$105.7 billion, self-funded

2. Niram.AI (India)

A deep-tech startup based in India that develops solutions to detect breast cancer early on.

Its product is patented, portable, non-invasive, radiation-free, and claims to measures the temperature of the chest region to detect early-stage breast cancer.

Latest funding: US$6 million, Dream Incubator, Beenext

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Image Credit: Mimi Thian on Unsplash

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I’ve always been a woman in a male-dominated industry, from my early days in computer science up until today, as I continue to navigate the proptech industry. I’ve never dwelled much on it, and I’ve never let it hinder me from pursuing my goals either.

To me, International Women’s Day is about women supporting other women to achieve their best potential. When I founded Switch Automation, I had this vision in mind to create an environment free of gender bias, where women could rise up the ranks based on their own merits.

This is the story of how I made this happen in one of the biggest and oldest male-dominated industries, that is ‘property’.

Before there was Switch

Nature has always been a big part of my life. I’ve always been strongly attached to and protective of it. I grew up in New Zealand, surrounded by beautiful natural landscapes, and moved to Australia to attend university. There, I earned my Bachelor of Commerce in computer science, and was fortunate enough to start out in the field at a time before it became largely male-dominated.

This meant that I had the opportunity to work alongside strong, talented women in tech until and through the 90s, all of whom inspired me to be the leader I am today.

It was the early 90s when I met my co-founder and we started our first business venture together. We went on to start several successful businesses, which often brought me to Singapore.

We worked with companies operating in Indonesia and American companies in distribution and purchasing environments, who were struggling with losing sight of their shipping and freight.

We wrote freight management solutions for these companies, and soon realised that the freight management solution we built actually met the requirements of a wide array of companies. This was when we made the big decision to move to Sydney to establish a portal.

Out of pure chance, we were introduced to the world of building automation by an acquaintance, and my interest for the sector has only grown since.

Connecting the disconnected

When you observed the way people managed buildings back then, you’d notice a big disconnect. Systems used were cheap and disparate, teams were disconnected, assets weren’t linking up with data, everything was very much disjointed. But I saw this disconnect as an enormous opportunity.

In my head, I envisioned 2050, where buildings could be managed digitally in ways that were connected and driven. I knew that in order to propel the industry to that stage, huge transformations needed to happen. On top of that, I was swayed by the possibility of transforming the industry to positively impact the environment. With these visions in mind, Switch Automation was born in 2012.

I moved to Denver in the US in 2014 to set up the Switch headquarters when there was just nine of us. Since then, we’ve grown to a team of 60 globally, with offices in Australia (R&D), the US (Business), and now Singapore, where we’ve just hired employee number 5 and plan to double that number in the next year.

If you look at our senior leadership team, you’ll see more women than men– a rarity in this industry today. This is something we did deliberately. Instead of throwing postings onto job boards and waiting for applications to roll in, I personally sought out and changed the face of our company by looking for and inviting women to apply for specific roles.

By encouraging them to apply, we narrowed the gender gap in our company and this encouraged further diversity in our team. I am really proud to share that because I was able to impact a lot of change in that regard, we’ve managed to outperform and survive in an age-old industry, even as it was hit by a pandemic.

Amidst the pandemic

The pandemic was a canary in the coal mine event, where everyone in the industry was caught off guard. It made companies realise why they should have been investing in tech over the last five years. That said, it didn’t push many to seek proptech.

All it did was highlight the fact that many in the industry had few tools to remotely monitor rooms and manage buildings. In fact, it’s astonishing to see how many buildings carried on operating business as usual all through 2020.

Switch’s narrative is one of resilience. It’s true, real estate is ridiculously slow, mainly because it’s always easier to do nothing, than to change something that already seemingly works. Senior management in the industry believe tech will cost them substantially. What they don’t understand is that it’s going to cost them millions of dollars not to digitally transform.

Every year, I think, the industry simply can’t stay this way, it has to evolve and accelerate. But at the end of the year, I find that we’re still on the same grind. Through consistency, we’ve managed to stay in the game, growing our customers to the point of raising US$12 million.

We’ve grown our products, our teams, and have stayed resilient when the pandemic hit, and for that I am proud.

Switching up real estate

If there’s anything I’ve learned on my journey as a leader, it’s that success is going to take you 10 times longer than you’ve ever imagined, and achieving this is going to be 10 times harder than you’ve ever imagined. That said, it’s also going to be 10 times more rewarding once you attain it.

Which is why, when it comes to pursuing big goals, I think it pays to be a little naive and to go into these things as if failure doesn’t matter. You always learn something out of failure, and some of the greatest things are born when things don’t work out.

Things have changed since I first entered the field. My leadership style, for one, has changed significantly. When we first started Switch, it was just my co-founder and I. We managed all aspects of the company and did our first round of hiring, usually doers who could run different aspects of the business — marketing for example, or software development, quality assurance.

We then began hiring leaders who could manage the team. When we did this, I had to take a step back and resist the urge to wear all the hats. I knew that I had to take off a hat, hand it to someone else, and trust that they’ll see tasks through.

You go from becoming somewhat of a helicopter parent to just allowing people to fly in and do things their way. I’ve learnt to trust that I’ve hired the right people for the job, and to trust my employees and their capabilities.

I see a new generation of facilities managers and operators, asset managers and property managers, all who live and breathe digital. They’re not going to stand for business as usual, and I’m really excited for the positives that will come out of this new wave of leaders.

I love working with millennials, and at Switch we hire a lot of them. They want to do meaningful work, and the quickest way to do so is by giving them data-rich conversations. This way, their wealth is driven by data, as opposed to how we used to do things in the past. I think this is going to impact significant change in the industry.

As a growing global technology company, people often ask me what my end goal is. I always say world domination, and when everyone laughs, I always go, it’s actually not a joke. We’re trying to create a digital platform or enterprise toolkit for buildings. There’s nothing like it in the world. We’re hoping that by bringing these to teams in real time, we’ll all be able to impact our environmental footprints.

We’re an impact-led company, and we’re really hoping to have an impact in the different countries we touch.

—

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2020 has been a year of major disruptions. Not only has COVID-19 forced many industries to pivot, it has also accelerated digital transformation and given rise to new opportunities. In Singapore’s recent Budget 2021 announcement, Deputy Prime Minister Heng Swee Keat further reinforced the need for innovation and enterprise growth as the backbone of a healthy economy.

Aligned with the government’s aim to foster a robust enterprise spirit and innovative culture, the Institute of Innovation and Entrepreneurship (IIE) at Singapore Management University (SMU) announced the top 50 startups finalists for its marquee event, the 10th Lee Kuan Yew Global Business Plan Competition. The competition, in its 10th edition this year, has attracted the attention of student entrepreneurs across 60 countries, with over 850 entries received from 650 universities.

“In conjunction with celebrating the 10th edition of the competition, we will be especially presenting the SMU Chancellor Cup. This accolade is to champion the most promising team representing a Singapore university and is part of SMU’s commitment to continually nurture the new generation of young innovators and aspiring creators,” said Hau Koh Foo, Director, Institute of Innovation and Entrepreneurship at SMU.

Also read: Twilio’s annual State of Customer Engagement report

The competition finals, titled BLAZE, will be held from 18 to 19 March with the finalist teams competing virtually for prizes worth up to S$2 million. Finalists will be evaluated on their level of innovativeness, commercial feasibility, impact of the idea and capability to execute.

Beside the top prize of S$100,000 in cash for each of the two category winners (0 to 1, and 1 to infinity), other prizes that will be conferred on 19 March include the SMU Chancellor Cup that awards a S$25,000 cash prize to the most promising team representing a Singapore university and the People’s Choice Award of S$10,000 each for the two categories.

Hau adds, “The SMU Chancellor Cup epitomises our conviction and support for the start-up ecosystem in Singapore – particularly aspiring entrepreneurs who hail from our local universities– to test their mettle of taking the next step in their business journey and who have created meaningful impact not just locally but on a global stage.”

Check out these five finalist teams who will be vying for the SMU Chancellor Cup, and their game-changing innovations that will transform the world as we know it:

MyrLabs – Enabling the US$23 billion robot market with advanced indoor positioning (Nanyang Technological University)

Slow robots are a problem. In the logistics business where so much time is spent moving things around, every second is precious. With the rising adoption of automation and robotics in supply chains globally, there is also a need for robots that can navigate complex environments efficiently.

An A*STAR spin-off, MyrLabs is developing an indoor positioning solution for robots that provides positioning data in GPS-less environments and can operate in diverse spaces. Their proprietary technology allows robots to overcome the limitations of LIDAR-based localisation and navigation.

With MyrLabs’ solution, robots will be able to move at higher speeds and need not stick to a fixed path, thereby boosting productivity and efficiency. Their technology is a game-changer for not just the many e-commerce warehouses that will require a robust and intelligent logistics system, but also unlocks new robot use cases in non-traditional areas such as shopping malls.

So the next time you receive a delivery of your latest Taobao haul on time, you never know?: MyrLabs’ technology may have been fundamental in getting it from the warehouse to your doorstep.

Resync – Helping enterprises save thousands of dollars with intelligent energy cloud platforms (National University of Singapore)

Resync enables enterprises to use their energy efficiently and more sustainably. Their machine learning and artificial intelligence-driven solution allow users to optimise distributed energy resources and improve power system efficiency.

Digitalisation and the dropping cost of renewables are driving a pivotal shift in global energy infrastructure. Rather than a centralised energy grid, there will be multiple microgrids as part of the ecosystem. This would include renewables such as solar panels, wind turbines, and smart buildings too.

Also read: Scaling communities like startups

Resync’s platform gives customers an in-depth analysis of their energy usage, and forecasts their energy generation and consumption. As a scalable and customisable platform, their solution is well-positioned to target the needs of both SMEs and MNCs. Their platform allows users to manage the next generation of microgrids more effectively too.

As the adoption of renewables and digitalisation continues to grow exponentially, Resync is at the forefront of enabling this transition smoothly. From renewable assets, to smart buildings and microgrids, the future of energy is in their hands.

Ship Supplies Direct – The world’s first AI-powered freight forwarding platform for marine suppliers (Singapore Management University)

Ships need supplies. From fresh produce to spare parts, the marine supplies supply-chain is a US$169 billion per year industry. The problem is that the supply chains can be highly fragmented, which results in significant additional costs to ship operators.

This is where Ship Supplies Direct comes in. Using artificial intelligence, their platform amalgamates data from satellites, ships, port operators and logistics operators to optimise deliveries. With real-time tracking, logistics operators are able to do more jobs and ships will be able to receive their supplies on time.

Based on their preliminary sales and analysis of existing customers, Ship Supplies Direct has already seen a 30% cost reduction for their customers, which has the potential to increase significantly. Their main target customers are either the buyers or the marine supplies.

As the busiest port in the world in terms of shipping tonnage, Singapore certainly presents a tremendous opportunity for Ship Supplies Direct’s solution to be implemented. A start-up incubated at SMU’s Business Innovations Generator (BIG) incubation programme, their platform is poised to be a major disruptor that will not only improve productivity but transform the marine supply chain industry as a whole.

StratifiCare – revolutionising dengue care with biomarker technology (National University of Singapore)

390 million people are infected with dengue every year. The problem?

Doctors are not able to accurately predict the progress of the disease due to a lack of a Severe Dengue prediction test. This results in over-hospitalisation which burdens patients with unnecessary medical costs. Hospitalisation costs can be as high as the equivalent of one month of salary in Indonesia for a patient who is admitted and infected with dengue.

StratifiCare’s solution, StratifiDen, allows doctors to determine the risk of Severe Dengue development. If predicted not to develop Severe Dengue, the patient is managed as an outpatient, thereby avoiding unnecessary hospitalisation and healthcare expenses. For patients predicted to develop severe dengue, this also allows for more focused medical attention and aggressive supportive treatment.

Based in Singapore and a recent winner of the competition’s DBS Foundation Social Impact Prize, StratifiCare intends to roll-out their diagnostic test to other tropical countries such as Brazil, which have high incidences of dengue infections. By doing so, they hope to see up to a 67% reduction of unnecessary hospitalisations, saving patients thousands in medical bills.

WaveScan – Seeing to the safety of the people with AI (National University of Singapore)

Built environment and structural infrastructure integrity is a core concern for contractors and property developers. For example in Singapore, a safety threat in our HDB flats are concrete spalling accidents: where the pieces of concrete from ceilings break off and may injure homeowners. Unfortunately, current inspection practices are reactive in nature and may come too late when the damage is already done.

WaveScan’s solution solves these problems. Their proprietary sensor technology utilises microwave and millimetre-waves capable of penetrating tiles, PVC, building facades, concrete, and more. An A*STAR spin-off company, WaveScan’s AI-enabled asset inspection solution does not require surface contact and has a wide range of applications.

Also read: Meet these 5 verified investors that are ready to connect with you today

In addition to the building inspection, WaveScan’s technology can be used for non-destructive testing (NDT) during the manufacture and maintenance of aircrafts; and oil and pipeline inspection. Potential other industry verticals include medical imaging, tree inspection and even security inspection at airports.

Enjoyed this teaser? Catch more trailblazing innovations at the Grand Finals of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC) on 19 March! The other accolades that will be conferred include prizes such as the Sino-Singapore Nanjing Eco Hi-tech Island Investment Prize, Kajima Smart Construction Deployment Prize and People’s Choice Award, amongst other awards.

The Grand Finals of the LKYGBPC, organised by the SMU IIE, will be happening on 19 March. Register & vote for your favourite team for a chance to win prizes up to S$8,000 NOW!

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This article is produced by the e27 team, sponsored by Singapore Management University

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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WeCommerce Holdings, a Canadian listed company providing software and services to Shopify users, has acquired Singapore-based loyalty SaaS startup Stamped for US$110 million.

As per a press note, US$75 million will be payable in cash upon closure of the acquisition, which is expected to close by mid-April. US$25 million will be payable in the first quarter of 2022 contingent on, among other things, Stamped achieving a minimum revenue target of US$10 million in 2021.

The final US$10 million will be distributed through the issuance of WeCommerce shares.

WeCommerce also revealed that it secured a credit facility of US$77 million from a group of lenders led by JPMorgan Chase to partially finance the acquisition. It plans to use the proceeds of the facility to finance working capital needs, finance future acquisitions, and repay existing debts.

Also Read: Why its important for SaaS startups to be frugal and how to do it right

Launched in 2016, Stamped enables online merchants to implement and manage customer reviews and loyalty programmes through Shopify and other e-commerce platforms. Stamped claims to have since grown to approximately US$11 million in annualised recurring subscription revenue, reflecting an estimated growth rate of over 100 per cent compared to the same period in 2019.

The company noted Stamped’s net revenue retention is estimated to be approximately 125 per cent in the fourth quarter of 2020.

“Merchants turn to Stamped to build social trust and power customer engagement. Stamped’s strong growth is a testament to its product-first focus and customer obsession,” said Chris Sparling, CEO of WeCommerce.

Tommy Ong, founder and CEO of Stamped, said: “WeCommerce’s management team brings over a decade of experience developing similar businesses, which is expected to help us accelerate growth. Amongst many suitors, we chose WeCommerce because of their founder-friendly approach, straightforward deal structure, and focus on the long term,” he added.

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Image Credit: Unsplash

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AirAsia Digital, the digital arm of the Malaysian airline carrier, has partnered with the Malaysian Global Innovation and Creativity Centre (MaGIC) to launch Urban Drone Delivery Sandbox.

The goal of the project is to test out the delivery feasibility of delivering goods from AirAsia’s e-commerce platforms via automated drones.

According to a report, the project will be run for six months in Cyberjaya, after which the drones will be deployed beyond the sandbox area upon a successful trial phase.

Two local drone operators, namely VStream Revolution and Meraque Services, are currently being tested out.

“The pandemic has presented us the opportunity to accelerate structural changes to the economy in terms of digitisation, automation and robotics, and we must embrace that change to vault Malaysia towards becoming an innovation-driven economy. We believe this strategic partnership between AirAsia and MaGIC will speed things up and signal the beginning of the nation’s urban drone delivery revolution,” said Khairy Jamaluddin, Malaysia’s Minister for Science, Technology and Innovation.

Also Read: Ecosystem Roundup: How SEA startups resisted challenges in 2020; AirAsia partners with MaGIC for drones-based delivery in MY

He informed that the government will be providing full support to other drone companies calling the project a “beginning of the nation’s urban drone delivery revolution”.

“Malaysia is poised to be the frontrunner in the drone-tech industry which is expected to generate US$127 billion by 2025. The global drone package delivery market size was US$642.4 million in 2019 and is projected to reach US$7.388 billion in 2027,” he continued.

“The drone delivery of goods can be expanded and scaled up beyond e-commerce such as the delivery of essential or medical supplies to areas that are rural, remote or affected by natural disasters,” the minister further noted.

The new development comes fresh off AirAsia’s launch of food delivery services in Singapore to take on industry champions like Grab and gojek.

The airline company has also revealed plans to enter the fresh produce delivery market in Singapore where consumers can order imported fish from Japan or short ribs from Korea directly to their homes in Singapore within 48 hours.

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Image Credit: Macau Photo Agency

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In February, Kludio, a Dhaka-based full-stack digital food court platform, announced an undisclosed pre-Series A funding round that was aimed to help support its effort to scale the business.

In addition to Steve Vickers, a former Chief Economist at Grab Indonesia, the investor in the funding round was Impiro, a Singapore-based investment firm.

Impiro focusses on early stage startups, particularly seed and pre-seed stages. Claiming themselves to be sector-agnostic, this year the firm is looking forward to going beyond Southeast Asia in searching for the next big thing in tech.

Historically, the firm might be known for its past exits which included Guava Pass (which was acquired by ClassPass in January 2019), Monopond, Xendity, Twizo, and Silverstreet. But at the present moment, its portfolio includes companies in the transportation sector such as Bali Bike Rental and Bikago, e-payments such as Tranglo, and even F&B group such as Locavore.

This year, despite the challenges that the COVID-19 pandemic has brought to the global market, the firm is set to continue expanding its portfolio. In fact, Impiro Partner Eric Dadoun shares to e27 in an interview that he sees the situation as an opportunity for startups to seize –due to the changes in customer behaviours that are setting everything back to zero.

“It is a very difficult time for individuals from the perspective of an entrepreneur, [but] I would make the argument that right now is actually one of the most exciting times to be building a business,” he opines.

“For creative entrepreneurs, it is kind of a wonderland of opportunity.”

Also Read: Ecosystem Roundup: gojek, Tokopedia said to be finalising terms of mega merger; SEA’s VC firms report lacklustre fundraising performance in 2020

The advantage of doing it on their own

The firm’s history began in the Netherlands in 2006 when the four partners –Simon Landsheer, Dadoun, Maikel Lambregts, and Ben Chong — founded a mobile messaging company that was eventually acquired in December 2020 by Soprano Design, Silverstreet.

Over the course of time, since 2009, the founders have done a variety of personal and corporate investments in Southeast Asia. This is something that they expect to continue in 2021 and 2022 through Impiro.

“We’re definitely looking to continue this pace of capital deployment into startups. Not only in Southeast Asia, but more broadly in the region and potentially in Europe as well,” Dadoun says.

The fact that Impiro does not have LPs like in a typical VC firm gives them some unique advantages.

“We’re not a fund and that means we do not have LPs. We’re managing our own money and that gives us the flexibility to engage in different businesses, different sectors and essentially target opportunities that inspire and excite us,” Dadoun explains.

He also stresses that Impiro is not locked into a specific thesis or mandate.

“We can essentially look at a variety of businesses across a variety of different sectors … that sort of allows us the freedom to engage teams that we think are very interesting, that we just have a really good vibe with. Of course, it also allows us to act quite quickly and be quite nimble as we don’t have a very complicated internal process for our due diligence or decision making,” he elaborates.

When it comes to looking for a potential investment, as an investor in early stage startups, Impiro puts emphasis on investing in founders. This means putting the founders’ potential as a point of consideration in assessing a potential investment, as early stages startups typically are still building their tractions.

Also Read: TNG Fintech faces lawsuit from minority shareholder in fintech startup Tranglo, failing to materialise the latter’s Series A funding

“Ultimately, we like to view ourselves as founder-friendly as we ourselves are former and current founders. We are still young and energetic, so we love engaging with the teams that we are fortunate enough to invest in,” Dadoun says.

“Generally speaking, and it sounds very cliche, we really do invest in the people, especially at the super early stages where there is just not a lot of traction to look at, not a lot of numbers to look at. So, forecasts don’t really mean anything,” he continues.

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Image Credit: Impiro

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The pandemic has pushed us to create new ways to stay connected with our communities, and a growing number of people worldwide are finding meaning and a sense of belonging in online groups. According to a 2020 global survey conducted for Facebook by YouGov, in 11 of the 15 nations surveyed, the largest proportion of people said the most important group in their lives is primarily online.

Online communities are significant contemporary organizations that can generate impact and provide members with a strong sense of community and belonging, despite not operating in the physical space. And digital technology enables online communities to form at unprecedented scale and speed.

Also read: Indonesia and Singapore are teaming up to build Southeast Asia’s digital hub of the future

The sheer number of people on Facebook enables community leaders to make membership available to a global audience. No matter how niche the topic, the investments made to reach new members is a fraction of that of the offline world.

As social distancing measures continue, more people are staying at home, which translates to more people on social media platforms like Facebook – thereby providing a boost to engagement. Even governments are pivoting to virtual community engagement, sharing timely, accurate information and updates with their citizens through online platforms and channels.

Leveraging members as a catalyst for growth

In today’s hyper-connected world, the impact of a single recommendation (or a bad review) can be far-reaching. Having the buy-in from your members would naturally lead to word of mouth marketing, which in turn drives growth in membership.

Besides investing in resources to help scale a community, allowing members to own the responsibility to create their own experiences, taking feedback and understanding their needs can add tremendous value.

Also read: Building a globalised ecosystem based on innovation and entrepreneurship

The opportunity for members to share their real opinions, in order to create genuine and honest discussion, helps members build trust in each other. When members are given a platform to provide their transparent and instantaneous feedback, community leaders can leverage that information to make decisions and bring about positive change.

For this to happen though, community leaders must make consistent and intentional outreach with members to understand and empower them, as well as capture success stories of members in order to encourage and support the growth of the community.

Empowering good leaders to scale and empower growth

As an extension to leveraging members, communities should also look to further develop leaders to better manage, promote and create authentic, engaging community ecosystems. These leaders can be part of the original founding team, or from members who have indicated that they have a passion or interest to take on a greater role in their respective community.

Once these leaders are identified and are able to commit to helping a community grow, there are resources that they can begin to tap on to further the unique skill sets that a successful community leader needs.

Among a range of support, Facebook provides leaders with educational material through its community website, and a range of tools and recognition to empower leaders to build, scale and connect communities more meaningfully. The Facebook Certified Community Manager Program is one such program that offers training and certification for leaders to establish best practices and standards around community management. Since its launch in October 2020, we have had thousands of people who have enrolled in our online courses, and hundreds of new certified community managers. Starting in March 2021, the program will also be available in several languages, including Indonesian and Thai.

Also read: Meet these 5 verified investors that are ready to connect with you today

In Asia Pacific, we have community leaders who have successfully completed the program and are now Facebook Certified Community Managers including Maureen from Indonesia who started the Facebook Group “Single Moms Indonesia” as a way of finding solidarity during a challenging time in her life. She became one of the first Certified Community Managers on Facebook to complete the set curriculum and pass the exam.

Additionally, we have programs like the Community Accelerator, which is part of the Facebook Community Leadership Program, a global initiative investing in the leaders who are building communities around the world, bringing people together, offering encouragement, and driving change. Through the Community Accelerator, participants receive growth-related training, hands-on mentorship and funds to grow their community and impact. Since joining the accelerator, Social Connect, which offers a platform for mental health survivors to seek help and share their stories, has doubled its growth, managed to reach over two million people online, and evolved into a business helping companies achieve maximum productivity while ensuring employee happiness.

Online communities are increasingly becoming a viable way to create a positive impact and successfully grow a new venture – particularly for ventures that offer members fulfilment and a sense of belonging. Through a strategic fusion of the resources that are available and a decisive commitment to scale further and engage deeper, more people can get on the track to building and growing a vibrant online community.

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The post Scaling communities like startups appeared first on e27.

Europe’s and Asia’s fintech-focused startup incubator and accelerator F10 has announced the graduation of six startups from its inaugural programme.

During the programme, the startups received fundraising support from F10’s investor network, along with one-on-one coaching and mentoring sessions on market entry and product development.

PwC, one of the largest global consulting firms, alongside SIX (Swiss Stock Exchange), Bank Julius Baer, and R3 (blockchain development firm), also partnered with F10 this year.

The six graduating startups are:

Apiax: Transforms complex regulations into digital compliance rules which are accessible for everyone.

Couture.ai: Powers collaborative development and operationalisation of AI and ML models in production at scale.

CoverGo: A no-code, enterprise-grade insurance platform that enables digital insurance transformation.

Propine: An independent digital asset custody services provider that received CMS (Capital Markets Services) license from MAS (Monetary Authority of Singapore).

Signzy: An end-to-end digital onboarding platform to take customers through multiple processes including KYC, risk modelling, digital forensics, government, and private data sources.

SynctacticAI: A predictive data science platform that helps businesses turn their data sets into actionable insight.

Out of these, SynctacticAI and CoverGo will go on to undergo the accreditation programme by PwC Singapore.

Also Read: F10 unveils 9 startups graduating from its fintech-focused incubator programme

Founded in 2016, F10 helps fintech entrepreneurs solve the challenges that come with the process of successfully selling their solutions to established banks and insurance companies.

“The innovative startups graduating today will be able to approach businesses with the confidence of accreditation from one of the world’s leading consulting and professional services networks,” said Jonas Thürig, Head of F10 Singapore.

“We have been working with the incumbents and newcomers in accelerating technology advances and digital transformation within the financial services sector. By working with F10 and supporting these innovative startups in their own personal journeys, we can be part of the ongoing evolution of financial services in Singapore and beyond,” Wanyi Wong, fintech leader at PwC added.

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Image Credit: F10

 

 

The post Meet the 6 fintech startups graduating from F10’s inaugural accelerator programme appeared first on e27.

A founder’s path is often a lonely one filled at times with self-doubt, loss of confidence and fatigue. Being a multiple startup founder, I have much to reflect on and understand what happened to me.

You see, I am not only a startup founder, I’m also a person in recovery– from depression, anxiety and insomnia.

These mood disorders may seem fluffy, but for majority of us, we would most certainly have understood stress and frustration in our entrepreneurial journey.

For us founders, failing fast, failing early is the mantra but how many of us are equipped mentally to embrace failures, one after another and be able to march forward relentlessly till we reach scale.

As a young founder, I harboured dreams that I could change the world, create a tiny ripple in this vast ocean. Like some, I chose the route of spending any free time I had on a side tech project while slaving away in a corporate day job. I was bootstrapping myself and it was incredibly exciting.

Little did I realise, balancing two intense jobs would take a toll on me. I started to stumble, committing every mistake there was to make in the founder’s rulebook and before I knew it, I had burnout without even being aware of it.

Without proper guidance and a stubborn will to cross the finish line at all cost, I was soon managing a zombie tech project on life support. Mentally, I was fatigued but refused to accept the idea of mental wellness. I would rather believe in the wind than accept I was suffering from burnout, though both were invisible and widely acknowledged.

As I rejected the notion of burnout, it developed into depression and a range of other mood disorders. Finally, it proved so exhausting that I was no longer getting out of bed much and I meekly surrendered to the fact that I needed help.

Also Read: Ryan Chew of Tribe: Why startups should pay attention to the environmental, social, and governance side of their business

The turning point came on a Monday, where instead of turning up at work, I checked myself into a hospital. Apparently, my condition was severe enough to warrant a week’s staycation.

Looking back, there are so many red flags and potential minefields any founder can encounter in their entrepreneurial journey. The idea of accepting failure as a good teacher to eventual success is noble. But the reality of it is, our minds have limited capacity to keep sponging up the stumbles and falls.

There will be days we feel grey, we lose hope and we struggle with our ideas. There will be moments where we make comparisons with our peers who are successful and we wonder why we are doing what we do. The challenges faced by Founders can range from vulnerability, imposter syndrome, stress, and anxiety amongst a range of roller-coaster emotions.

The startup world exacts every pound of sweat, passion, energy, and strength from founders, who, with their noses against the grindstone, often handle the workload of three or more people every day. Due to this high-intensity lifestyle, founders often end up experiencing burnout.

A few years ago, Business Insider published an article about depression in the startup community. According to the article, seven per cent of the general population report suffering from depression, while 30 per cent of founders report dealing with its effects, and more than 50 per cent of those get to burnout.

In the early 2010s, a clinical professor and entrepreneur by the name of Dr Michael Freeman surveyed 242 entrepreneurs about their mental health. Of the 242 entrepreneurs he surveyed, 49 per cent reported having a mental health condition.

While there are no specific studies focusing on entrepreneurs, there are countless clinical research papers and statistics on the rise of depression and burnout in the general workforce population. The contributing factors range from long hours of work, little personal interaction to a general loss of meaning in professional life.

Also Read: For your mind only: How to deal with founder’s burnout

Founder burnout is as real as it can be.

How can we change the world and not be a shadow of ourselves at the end of it?

It begins by understanding the cause of founders’ burnout. Normal stress can be healthy, and it can even contribute to one’s peak performance. But when we consistently don’t recuperate by resting, we start building chronic stress, which can lead to any combination of disorders and illnesses, ranging from hormonal disorders, muscle tension and aches, weakened immune response, to anxiety, depression, irritability, and insomnia.

Eventually, the continuous stress on the body over a long period of time disturbs the endocrine system, it starts taking over everything that the brain considers nonessential, like sleep, digestion, and the reproductive system. This is when burnout starts. At its highest degree, burnout is a state of complete mental, physical and emotional exhaustion.

From my own journey, I have reflected and identified some key learnings to avoid Founders burnout. I am sharing them here so you don’t have to go through what I did:

Identify your self-worth
I observed some entrepreneurs tend to identify completely with their work, which leads to their moods and sense of self-worth becoming intertwined with the ups and downs of their business.

It’s important to be invested in the business but even more so to invest in one’s mental health. Without the founder leading the vision, the entire startup cannot go on. You cannot give if your glass is empty.

Find your tribe
The founder’s journey can be incredibly lonely, no matter how successful your startup is. There will always be naysayers and difficult decisions no one else can make, except by the Founder. There will be many moments where we find ourselves at a cross junction, struggling with the what-ifs.

It is extremely important we gather support within the startup community, to ask questions, to bounce ideas and to support each other by validating what we do. I call it ‘mental fuel’ and we need it to go on to create something great. Remember, for every doubt a founder has, you can be sure you’re not alone within the community.

Let go
While I am not necessarily a God-fearing individual, I understand we can never control things we simply cannot. And in the startup journey, there are so many variables that are just uncontrollable. There are a million and one things that can go wrong in this path to greatness and often, to keep winning, founders can be harsh on themselves. Remember, be kind to yourself and don’t sweat the small stuff.

Also Read: How ThoughtFull aims to destigmatise mental health through daily chats with professionals

Leave time for me-time
Entrepreneurs sometimes relate their own sense of purpose with the purpose of their business, which can be dangerous when the bubble bursts, leaving the entrepreneur completely empty. Be reminded to put things into perspective and leave time for family, friends and exercise. Setting aside time for relationships and self-care can recharge a Founder multiple folds and last longer in this challenging entrepreneurial journey.

Celebrate the small wins (in a big way)
In the course of a Founder’s startup journey, there will be wins and losses, just like a basketball regular season. Hit that pause button to acknowledge and celebrate the small wins. While we may not necessarily get that hockey stick chart we all love, enough small wins make an upwards linear line. And that’s called progress.

There is a mental health crisis in entrepreneurship

As I embarked on my recovery journey, it is also through this wish to share my lived experiences with others that I founded CARA Unmask, a community based mobile platform where users can connect anonymously and securely with trained peer supporters and professional counsellors.

Global statistics and market surveys indicate two big findings:

• One of the biggest issues preventing someone with mood disorder from seeking help is stigma
• It takes someone on average from six to 11 years before they sought help with their mood disorder

Our mission is to overcome stigma and be that global digital front door to more conversations about our mental health. We aim to be the first line prevention, rather than handling higher cost, time and efforts for bigger mental health issues further downstream.

They say products are often a function of the founder’s experience. In this case, I simply wanted another to not have to go through the mental struggles and difficulties I encountered in my startup journey. There may not be necessarily anything serious about a founder’s mental health when they on board CARA but it does provide a safe space to share their struggles within a community that cares, rather than keep things snowballing inside.

Also Read: 7 strategies for beating startup burnout

Startup founders are one of the most inspirational people around; the will to persevere on and strong desire to make things better is bar none. However, the same group of people is also vulnerable to poor mental health, if not careful.

The journey to startup greatness can be lonely. So, start looking out for another fellow Founder and nudge them with a reminder to take care. After all, there is no true health without mental health.

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