Southeast Asia has always lagged behind the Western world in innovation and entrepreneurship. But it seems that a new age is dawning, and startups have been popping up left and right in the region. 

According to CNBC, it is currently the golden age for growth in the South East Asian market for innovators to turn their attention to.

The golden age for SEA

Grab and GoTo (formerly Gojek and Tokopedia) have seen unprecedented growth in the past two years, rising the ranks in the investor market and have announced their intentions to go public this year. 

With much of the region still in the development stage or the “budding age”, with youths rising in numbers, creating a generation of people who are eager to embrace new technologies, the region is primed with opportunity and potential. 

Ohad Ben Artzi, Co-Founder of Vidliz, a digital marketing and PR agency, believes that the rise of startups will fuel the economy and create money-making opportunities for those with the entrepreneurial touch.

The startup boom in Southeast Asia also means that agencies like Vidliz will rise to prominence as digital marketing is a crucial aspect of success.

“Consumer trends in the region have also changed rapidly, with users buying more online than ever before. This situation existed before the pandemic, with lockdowns entrenching purchasing behaviour. With the South East Asian market saturated with heavy mobile users and digital marketing becoming the leader in generating sales,” says Artzi, “Digital marketing is not just an option, it is a necessity.” 

According to Statista, the Philippines has continued to top the average daily internet use charts. And a recent report estimated an additional 70 million more people shopped online in Southeast Asia since the start of the pandemic.

The rise of affiliate marketing and its influence

As someone who also hails from a Southeast Asian country, I have personally seen the increase in e-commerce and how social media is being used to promote and share products. It also helps that many marketplaces online offer affiliate programs that give consumers the option to earn from their passion for shopping.

Shopee has grown exponentially and has an ambassador program with an in-house platform that drives sales through its ambassadors. The requirements? A measly one thousand followers is an entry requirement, and then ambassadors can do whatever they want to generate commission.

Also Read: 3 trends that can define the success of SMBs in 2022

They are free to post their links on forums and social media. This drive to affiliate marketing had truly bloomed, especially during the pandemic when shopping trends increased, and people looked for more ways to generate income.

Artzi also voiced how affiliate marketing plays a significant role in digital marketing, as it is driven by consumers, for consumers, “Affiliate marketing is a lucrative collaboration between companies and consumers, and it is highly effective because it’s being promoted by individuals who are passionate about the business, brand, or product, and not simply paid to do so.

“While celebrity or influencer endorsements will continue to make an impact and drive sales, affiliate marketing is here to stay. End consumers want to hear from other consumers who have used the product and recommended it, and businesses want to reward those consumers who promote their products.

“It’s a win-win situation for everyone involved, and the best part is, it’s the most budget-friendly way to incorporate digital marketing, and it doesn’t require much effort on the client’s side.” 

A look into the big ecosystem

Talking to Artzi also showed me how affiliate marketing is a big ecosystem. 

“Everything feeds into one another,” the Co-Founder says, “Conscious consumers create a demand, entrepreneurs and startups fill that demand, creating more need in the industry and generating opportunities like affiliate-ship for consumers, which fuels their desire to buy more and promote more.” 

Also Read: How startups should pivot towards being customer-centric

So when asked whether the South East Asian market is at its peak for startups to enter? My answer is this is just the beginning.

We’re seeing a marvellous display of transformative evolution, where the people are awakening to the fresh new incentives that push creativity to the forefront. Of course, it isn’t always rainbows and unicorns. Dipping your hand into what you don’t yet understand can sometimes backfire.

Marketing campaigns can go wrong, and startups can fail. Still, there is an excellent chance of success because the market is currently receptive and will latch on to new technologies, unlike at the beginning of the technological revolution or the digital boom, my fellow South East Asians were dubious of e-wallets and apprehensive regarding new startups because when you live in a developing country, you’ll quickly realise that scams are everywhere. 

Today, technology fills our days, and we’re moving towards a cashless society. Money transferring platforms have taken over with attractive cashback and points systems which encourage us to use them.

GrabPay is currently being rolled out and aims to be the number one platform for money transfer, bill payments, and even instalment plans.

With everything up in the air, Southeast Asia is where you want your money (and ideas) to be if you’re hoping to flourish – but always remember to be culturally sensitive and understand the market before jumping in feet first. 

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Image Credit: tzido

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Indonesian edutech startup Zenius today announced an undisclosed funding round led by MDI Ventures, the corporate venture arm of state-owned telecommunications company Telkom Indonesia.,

Existing investors Northstar Group, Alpha JWC, Openspace Ventures, and new investor Beacon Venture Capital, a corporate venture arm of Thailand’s Kasikorn Bank, also joined the funding round.

In a press statement, the company said that with this funding round, Zenius has raised over US$40 million in total. Prior to this announcement, it closed a Pre-Series B funding round in January 2021.

The company recently made headlines with the acquisition of Primagama, a local cram school giant with up to 40 years of history.

Zenius CEO Rohan Monga said, “The funding will support the further development and expansion of our learning ecosystem. We will focus on improving our personalised learning experience by enhancing our adaptive learning technology and gamifying our platform to boost students’ motivation. Through our recently acquired network from Primagama, one of the biggest tutoring service providers in Indonesia, we will be able to extend our reach to broaden our impact on education. We strongly believe that hybrid learning model, offline and online, will deliver the highest outcome for the students.”

Also Read: The 27 Indonesian startups that have taken the ecosystem to next level this year

In addition to the acquisition, Zenius has recently launched a partnership with Disney for its primary school segment and established ZenPro, a platform for professional or lifelong learning segments.

Founded in 2014, Zenius said that it has helped more than 1.5 million alumni to enter top private and public universities in Indonesia. Last year, seven out of 10 Zenius premium users passed the high-stakes national college entrance exam while Zenius revenue increased by four times.

Monga stressed the role of collaboration in helping the company grows its business.

“Zenius is a collaborative player. We believe that we can realise our mission to shape smarter, brighter, and more fun Indonesia through collaboration, partnership, and synergy with various stakeholders like MDI who share the same vision, which is to improve education in Indonesia,” he said.

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Image Credit: Zenius

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Singapore-based online platform for designer toys and collectibles, has made the first close of a US$20 million Series A+ funding round led by East Ventures (Growth Fund) with participation from Mirana Ventures, the venture partner of Bybit and BitDAO.

Easternwind International, Pan Solar Ventures, Teja Ventures, KB Investment and Korea Investment Partners joined the round.

As per a statement, the new tranche brings the company’s valuation to over US$200 million.

With this, the firm’s total capital raised to date has touched US$34.8 million. Last August, Mighty Jaxx bagged US$10 million in a round led by Tencent. New York-based Greycroft is also a backer of Mighty Jaxx.

Mighty Jaxx will use the new capital to deepen the expertise of its proprietary platform for tech-enabled collectibles and strengthen its ability to develop immersive and interactive phygital collectibles and content. It will also develop its extended reality and Web3 capabilities to bridge phygital collectibles and online, digital experiences with the support of Mirana Ventures.

Also Read: Mighty Jaxx raised US$10M in a Tencent-led round to grow its designer toys and collectibles biz

Jackson Aw, Founder and CEO at Mighty Jaxx, said: “We will be doubling down on our expansion and growth plans as we tap on the tremendous market potential presented by increasingly digitally-savvy consumers.”

With markets like Thailand, the Philippines and Indonesia increasingly investing more time on gaming, there is an emerging demand for new, interactive experiences that transcend the physical and digital divide. To meet this demand, Mighty Jaxx will leverage East Ventures’s expertise in Southeast Asia to further expand in the region and sharpen its digital development expertise.

Mighty Jaxx also plans to significantly increase the size of its global workforce, particularly in the areas of tech, creativity and licensing, over the next 18 months.

Founded in 2012 by CEO Jackson Aw, Mighty Jaxx is an urban culture company that designs and manufactures collectibles and lifestyle products in partnership with global talents and brands such as Warner Brothers, DC Comics, Looney Tunes, Sesame Street, and Casio G-Shock.

It is building an integrated platform to empower future pop-culture brands with the end-to-end supply chain of collectibles, including artist development and incubation, proprietary IP operation, and providing global consumer access with new retail.

The company claims so far, it has shipped millions of products to over 60 countries with diverse offerings in collectibles, gaming, lifestyle, and fashion.

Last March, Mighty Jaxx launched Nubbies: Sesame Street, a hyper-casual game title, in association with the new collectible series of the same name.

Valued at more than US$100 billion, the creator economy is undergoing staggering growth as it forms the focal point into which e-commerce, social media, and online communities converge. As the concept of a decentralised economy takes root alongside developments and the inevitable adoption of Web3, independent creators will undoubtedly rise in number and influence.

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Transport Capital, an investment management firm in Singapore, has announced the launch of a new VC arm TC Ventures.

The new fund focus on startups offering compelling solutions for transportation’s two mega challenges: decarbonisation and digitalisation. In addition to capital, TC Ventures will leverage its deep understanding of maritime and aviation to help its investee companies grow.

Alongside the launch, TC Ventures has announced investments in two foreign companies: Turtle (Germany) and Everimpact (France). While Turtle is building a digital job marketplace for the maritime industry, Everimpact helps fight the climate crisis by measuring carbon emissions to finance climate actions.

Also Read: ‘We hope to see more material science, heavy industry firms coming out of SEA to address climate change’

“We believe that transportation by sea and air is at a multi-generational inflection point, with the need to decarbonize and digitalize dramatically accelerating,” said Joshua Politis, Deputy Managing Partner of Transport Capital and Chief Investment Officer of TC Ventures.

Established in 2013, Transport Capital provides maritime and aviation players with services such as investment management, financial advisory, and asset brokerage. Established in 2013, Transport Capital is an investment management and financial advisory company focused on maritime and aviation. Headquartered in Singapore, Transport Capital’s core expertise is in Real Assets and Private Capital Markets.

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International Women’s Day is a day to acknowledge and honour women around the world for the contributions they make each day to society. With power enough to shatter the shackles of patriarchy, women are rising above societal hurdles every single day, making them a stronger force to reckon with, in modern times.

During the past few years, there has been immense progress in various programmes across the globe to help advance females in a number of domains.

Through our contributor programme at e27, we celebrate the contributions of our female writers. We applaud their innovative ideas, success stories, and dedication to take the world by storm.

How machine learning really impacts us in our daily lives by Janine Teo

Machine learning is now considered to be one of the biggest innovations since the microchip. It is used to be a fanciful concept from science fiction, but now it’s becoming a daily reality. If we know how to harness its power, it can help us lead a happier, healthier, and more productive life.

In this piece, Janine Teo, CEO of Solve Education! shows us how machine learning really impacts us in our daily lives. From automation to efficient computation, from rectifying blurry pictures to rapid damage assessment, the machine learning revolution is already all around you.

Beyond burn out: Why you should also celebrate the pursuit and not just wins by Aulia Halimatussadiah

To be burned out is to be used up like a battery so depleted that it can’t be recharged. In people, unlike batteries, it is said to produce the defining symptoms of “burnout syndrome”: exhaustion, cynicism, and loss of efficacy.

Many months ago, Halimatussadiah, the CMO of Remote Skills Academy Indonesia, the Co-Founder of Storial.co, a social storytelling platform, and NulisBuku.com, a print on demand platform, felt uninspired even though she was leading a beautiful life.

In this article, Aulia Halimatussadiah talks about what led her to exhaustion and how she came out of it thriving.

“I break goals in small chunks. I make it a habit to create a daily intention and checklist that will show my progress on that day. I notice and celebrate my micro-progress and write it down in my gratitude journal. I also celebrate progress with my team/best friends.”

How Malaysian workplaces need to manage the impact of “coronastress” by Catherine Chen

According to the World Health Organisation, mental health refers to a state of well-being in which individuals realise their abilities, can cope with the normal stresses of life, work productively, and contribute to their community.

The ongoing pandemic has pushed many beyond their limits from social isolation, resulting in potential long-term mental health issues and has sparked a new phenomenon coined as ‘Coronastress’, stress occurring due to the COVID-19 pandemic.

Also Read: Meet the 13 UN Women Care Accelerator startups transforming care work in APAC

Catherine Chen, the founding member of OKRs Coach Network, says, “According to the report released by IPSOS at the end of 2020, Malaysia has the highest level of anxiety among the 28 counties surveyed. For example, 67 per cent of Malaysian employees have increased stress due to changes in work routines and organizations, while the global average is 55 per cent.”

In this piece, Chen emphasises the compelling advantages of OKRs for building a value-driven mindset rather than task-driven mindsets and how workplaces can tackle corona stress effectively.

The long and winding road to e-commerce profitability by Vandana Agarwal

During the early stages of the COVID-19 pandemic, e-commerce was one of the biggest stories in retail. It is no longer considered an edge case, it is the future of retail. But as companies see the proportion of e-commerce sales increase dramatically, the urgency has arrived and recent consumer expectations like free and expedited shipping often have entrepreneurs barely coping with logistics costs.

Vandana Agarwal is the Sales Manager at ClickPost, Asia’s fastest-growing logistics intelligence platform for e-commerce. With technology to the rescue, she pens down her thoughts on how to make e-commerce businesses boom with more profits in the coming era.

5 foodtech trends that will reshape Southeast Asia in 2022 by Vanessa Techapichetvanich

The food industry has opened its doorway to new technologies and mobile application based services which led to an immense transformation in how the food industry operates. The recipe of food and technology has given birth to food technology.

Southeast Asia is a region that is intensely passionate about food. Every country in this part of the world has a long and proud culinary tradition that inspires great pride.

Vanessa Techapichetvanich, Co-Founder and CEO at Jamulogy, talks about how 2022 will be the year that homegrown food and tech startups in this region see rapid growth and perhaps even make a few international headlines. Having been long overlooked by the West, it’s about time Southeast Asian food culture gets its time in the spotlight.

Gen Z is saying no to climbing corporate ladders. Here’s what it means for Singapore’s startup ecosystem by Bernadette Cho

The dawn of Gen Z in the workplace, a digitally native generation, is beginning to influence employers and their decisions about the future of the workplace.

Their unique perspective about careers and life goals makes them the best fit for the post-pandemic workforce. Called the ‘change generation,’ Gen-Z and the second half of millennials prioritize purpose over money.

There is nothing more than an empowering work culture that keeps their passion alive. When it comes to Generation Z’s work ethics, it’s just not enough to have a compelling purpose; they need to look into the ever-evolving ‘work’ itself.

Bernadette Cho oversees the Singapore office and cohort at Entrepreneur First in Singapore, enabling the most ambitious and talented people to build startups from scratch. Cho reflects, “No longer fulfilled by the status quo, more Gen Z aspiring founders are proactively forging their own path.”

Also Read: A women-centric dating app developed by an ex-diplomat seeks to end Tinder’s dominance in Vietnam

How prepared are you to meet Gen Z in the workplace?

From sommelier to AVP of Customer Success at a tech unicorn: Lessons from my career journey by Wenjun Ai

The world has become so competitive that doing well in your job and moving forward with your career is more important now than ever. Career advancement and recognition are on every professional’s list of goals. But what sets the exceptional professionals apart?

Wenjun Ai, AVP Customer Success, APAC at AppsFlyer reflects on her recent promotion to the position of Associate Vice President (AVP) of Customer Success in just seven short years. She shares the three key takeaways that she has distilled from her journey.

“And if there is just one thing you remember, it should be that we should always keep trying, pushing, learning, and growing,” says Ai.

How to use Twitter to market your product as a founder by Michelle Marcelline

With more than 145 million active daily users, Twitter should be a part of your marketing strategy. It’s the fifth most popular social media network, and it’s a gold mine of customer insights and opportunities to build your brand, drive sales and win fans.

Michelle Marcelline, Co-Founder at Typedream, a powerful no-code website builder that is simple and intuitive leads the way on how you can approach Twitter with a plan of action to build your personal brand. Understanding how the platform works and how it fits in your overall social media strategy is the key to success.

How IP strategy is driving the ride-hailing services to success in SEA by Cheryl Chng

Ride-hailing has revolutionised the way people travel and commute. It has become an integral part of society in Southeast Asia and consumers are increasingly reliant on such services for their day-to-day activities. Notable companies include Grab, Gojek, Blue Bird, and many more.

Also Read: Check out this comprehensive list of 46 startup resources and opportunities for women

The ride-hailing industry is expected to grow at a compound annual growth rate (CAGR) of 6.3 per cent – almost double the global average. Cheryl Chng, Director of Vertex Holdings shares the catch behind their success story.

How this founder went from being a tutor to a modern-day mompreneur by Nuha Ghouse

Nuha Ghouse started out as an ambitious educator with a limited understanding of technology but a massive passion for education which grew to the establishment of the leading edutech platform, Tutopiya.

Ghouse, the Founder and CEO of Tutopiya shares her journey from being a tutor to a modern-day mompreneur. She says, “In today’s high-tech world, female entrepreneurship has enormous potential for fostering socio-economic growth. As new generations take charge and the world emerges, female entrepreneurs must be primed as there will be more great opportunities for women in the future.”

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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

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