The pandemic impacted the coworking industry by eliminating the need for traditional offices. However, as lockdown restrictions begin to ease, many companies are transitioning to a hybrid work model in which some employees work in the office while others work from home.

With more than 70 per cent of Malaysian companies looking to implement a hybrid work structure as we embrace the new normal, the flexible nature of a coworking space complements the emerging popularity of this new work structure.

The accelerated adoption of the hybrid work structure enables coworking to reach its full potential as a flex-space solution provider.

Redefining the traditional work structure

As we move into a post-pandemic world, we find that there is no longer a standard way for people to work. Companies are finding ways to redefine their business model and keep employees engaged within the company to ensure its survival.

According to a report by Randstad, 69 per cent of Malaysian respondents surveyed stated their preference to continue working from home until the COVID-19 vaccine has been widely distributed. 

However, as more of our population slowly got immunised, this figure changed. The Malaysian Employers Federation (MEF) conducted a survey titled “Implementation of Work From Home and Work From Office Practices In Response to the COVID-19 Pandemic”, which indicated that 61.7 per cent of companies preferred a hybrid work structure.  

According to a survey by Robert Walters, up to 44 per cent of candidates would decline a new job role if no flexibility accompanies the role.

The onus is put on business owners to consider providing work flexibility wherever possible, as employees have now become accustomed to working from home and prefer flexibility over a fixed work structure.

This is becoming a deciding factor for many skilled employees, akin to medical benefits and corporate packages were in years passed. As the fight for quality talent continues to escalate in Malaysia, what we consider ‘corporate perks’ is evolving.  

However, I understand some hesitation from corporations as this transition, from a rigid working structure to a more flexible one, is not a small task.

Also Read: How the rise of the hybrid workforce is reshaping the office space

This is where coworking spaces like WORQ are a bridge between a traditional office setting, providing that flexibility that your employees crave without needing to build the infrastructure yourself. 

Overcoming the reluctance to adopt a hybrid or decentralised work structure

It is no longer up for debate that most of us are moving towards a decentralised working organisation, which essentially means employees who collaborate in a functional area or on a work team do not work together in the same office.

As a result of this, employees will be able to return to a less structured work environment without the use of closed offices.

This concept, however, is not new to companies; the conditions of the pandemic in its early days compelled every company to go through it.

Many companies still struggle with this, and when a team is spread out over the country, it can be extremely challenging to collaborate. It’s just a question of whether companies will follow through.

According to a survey by Savills Malaysia, 81 per cent of the respondents believe that an office is still necessary for a company to operate well, with 47 per cent saying that it was “always” important. In comparison, 34 per cent acknowledged that it was important “at least for the short term”.

In another way, many employees are still willing to go to work. They simply aren’t as willing to commute. It isn’t the office that most employees are against, but the inconveniences associated with static locations for work.

They understand the benefits of an office structure but now understand that alternatives, like coworking and flex space providers, work well.

These alternatives provide companies with the flexibility to move in quickly and the convenience of having access to multiple locations where employees can choose where they want to work without being tied down to traditional offices with long leases.

Employees realise the importance of working in an office environment that fosters productivity and allows them to interact with their coworkers.

According to the same survey, the most significant factor is the work environment, with more than half of the respondents (54 per cent) citing having colleagues and a culture that inspires them to achieve their best. An informal, inviting space contributes to an active environment that fosters communication, creativity, and teamwork.

The workplace used to be a place where you could feel like you were part of a community and get your daily dosage of social interaction, but this was taken away from when the pandemic broke out.

Employees would only see their coworkers once or, on rare occasions, or never at all, and even then, it was all done over a screen. A decentralised work structure needs to be enhanced to make the return to the workplace more attractive.

Also Read: Coworking space: why it’s the most startup thing ever

This brings us to the growing interest in coworking space as a real estate provider. As it is known today, coworking serves as a platform that can also be used in an economic sense to drive the decentralisation of employment.

According to research by McKinsey, companies that explore alternative workplace strategies could reduce their real estate costs by 30 per cent.

Coworking spaces, such as WORQ offer companies the flexibility to move in with a short turnaround time.

Reimagining the role of coworking spaces in today’s workforce

Instead of monolithic, bulky cubicles, there is a need to establish an environment that stimulates creative collaboration. WORQ aims to help companies navigate the hybrid work structure by assisting them in creating a conducive workplace without the risk and cost of any big-ticket solutions.

This will allow employees to work nearer to their homes due to the convenience of having access to multiple locations, thereby increasing employees’ willingness to stay with the company.

A hybrid work structure may contribute to beneficial company outcomes in the future, and innovative design solutions are essential in redefining the future approach to workspaces.

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“Why would you choose to spend ten days in a self-imposed prison instead of ten days on a beach in Tulum?” Unsurprisingly that was the reaction of most of my friends when I announced I had signed up for a ten-day silent retreat called Vipassana.

I signed up because I was about to make some big changes in my life. I had just gone through a very abrupt divorce, and I was planning to move across the globe, so before that, I had promised myself that I would sit in silence to make sure this big decision was the right one.

Little did I know, this experience wouldn’t just help in that decision. Instead, it would do much more for me. 

It’s no surprise to me that Yuval Harari, the historian and best-selling author of “Sapiens” admitted that it is thanks to his annual silent retreat that he was able to write his three best-selling books.

Silent retreats haven’t yet gone mainstream, but I believe they will and here is why. 

What is the Vipassana silent retreat?

 No meat, egg or dairy. No talking. Not even looking people in the eyes. No computer, phone or notebook. Those are some of the rules of vipassana meditation, an ancient Buddhist meditation technique used to calm the mind through a strict code of silence.

The way to get started in practice is through a ten-day residential silent retreat. You get woken up at four am for a four-thirty start and meditate until nine pm.

There are breaks, six-thirty to eight am, eleven am to one pm, five to six pm. During the rest of the time, you are expected to be meditating.

Vegan food is served twice a day. Soon food becomes your only pleasure of the day, but you are instructed not to overeat as it’s easier to meditate on a light meal you soon learn. 

Also Read: A meditation guide for entrepreneurs from an entrepreneur

There is about one hour of teaching in the evening, that’s it.

This means you spend about 14 hours with your eyes closed, meditating. These strict rules force you to go inwards and observe what goes on in your mind when you do. It turns out that 90 per cent of what you tell yourself is fiction.

Vipassana teaches you to differentiate between fiction and reality

During the retreat, I imagined something terrible had happened to my family (I later found out they were all safe and healthy). I noticed myself going in circles over deep resentment towards my ex-husband, and I noticed myself imagining a lot of worst-case scenarios in all aspects of my life.

What struck me is that most of my thoughts were projections, assumptions, worries and thoughts that were not serving me.

I remember reading that 90 per cent of what we worry about never actually happens. While I sat there in silence, noticing my monkey mind with a magnifying glass and it struck me how I was creating my prison.

Vipassana helped me develop what I now call the “bullshit radar”. I can now quickly notice thoughts that aren’t productive and reframe my mind with thoughts that expand my world instead of shrinking it.  

Relearning how to focus again on a digitalised lifestyle

A study shows that the average attention span has dropped from twelve seconds to eight seconds due to the increasing digitalisation of the brain.

Vipassana taught me to focus on my breath for days, and little by little, I noticed myself redeveloping a sharp focus I hadn’t experienced in years. 

The first eight days were very painful for me. My back hurt from sitting in the same position for days, my legs kept falling asleep and being honest, I wondered why I had signed up for this torture!

On day eight, something strange happened, something I am still trying to comprehend, to be honest. I was fed up and tired of the retreat, and my legs and back were hurting so much no matter what position I moved into. The pain was constant.

As per the teachings, I focused on breathing and observing the pain instead of feeling it, and suddenly the pain dissolved entirely!

That’s right, the excruciating pain I felt for days was magically gone.

Also Read: 3 ways meditation will save your life in a challenging time

I later read that it’s as simple: what you focus on expands, so by focusing on my breath instead of the pain, my mind wasn’t paying attention to the pain anymore, and therefore I didn’t feel it anymore. 

How Vipassana made me a better angel investor

There is so much more to be said about the Vipassana practice, but my takeaways as an investor are the following:

• To be a good investor, I need to be able to do my due diligence instead of blindly following other investors.
• I also need to understand how solid and committed the team is.
• Since my retreat and developing the “bullshit radar”, I am better at putting my emotions and my bias aside to understand what a good investment is and what isn’t.   

Four months after the retreat: What has stuck with me?

• Focus – I relearned how to focus on something for more than a couple of minutes without getting distracted. As a result, my ability to do deep focused work has been better than it has been for years.
• Becoming aware of my own bias – As an investor, I am more aware of my own bias and when my emotions get in the way of making sound investment decision-making. 

Remember, Vipassana is a daily practice. Once you stop practising, you lose it.

You may have read that you need 10,000 hours to achieve mastery of pretty much any skill; the same goes for Vipassana.

It’s not the ten-day silent retreat that has made me a better investor; it’s the daily practice of what I learned on the retreat that makes me a better investor.

If you have any questions, don’t hesitate to reach out to me via email at helena@toptierimpact.com or Instagram at @helenawasss.

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UK-based digital insurance advisory Sherpa said today it has received an undisclosed sum in strategic investment from Singapore- and US-based insurtech unicorn bolttech.

It is part of a collaboration to expand the international presence of Sherpa’s digital insurance and protection advisory tool, Sherpa Score.

Sherpa Score is a data-driven advisory platform that provides consumers with a customised visualisation of their insurance and protection gaps to inform their decision making. Businesses selling insurance can integrate the platform into their channels to drive increased engagement and understanding for a better experience for their customers.

The Sherpa Score platform will expand further into Asia and the US.

Also Read: iPhone co-inventor-backed insurtech unicorn bolttech adds US$30M to Series A

Sherpa CEO Chris Kaye said: “Combining Sherpa Score’s AI-driven technology with the reach of bolttech’s insurance exchange will enable us to integrate customer education and awareness into insurance purchasing journeys seamlessly. This will equip more customers with the insights and information to make better insurance decisions.”

Rob Schimek, bolttech’s Group CEO, added: “Our strategic investment in Sherpa will deepen our collaboration to enhance customers’ experience and drive engagement within our tech-enabled insurance exchange. By integrating Sherpa Score’s personalised insights into bolttech’s ecosystem of products and services, customers will better understand their protection needs and have the access and choice of relevant insurance products to meet those needs.”

Launched in 2020, bolttech aims to make connections between insurers, distributors and customers easier and more efficient to buy and sell insurance and protection products. It works with insurers, telcos, retailers, banks, e-commerce and digital destinations to embed insurance into their customer journeys at the point of need.

Also Read: bolttech adds BRV Capital Management as strategic investor to support international growth plan

Last December, bolttech added BRV Capital Management as a strategic investor in the company. This followed a US$30 million investment towards its US$180-million round from EDBI and Spanish firm Alma Mundi.

bolttech’s other backers are Tony Fadell (Principal at Future Shape, inventor of iPod, and co-inventor of iPhone), Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, and Tarsadia Investments.

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“Are you kidding me? How can a software company help achieve sustainability goals? Can it help cut down CO₂ emissions?” This was the reaction of an environmentalist I interacted with a few years ago. And I am not surprised by his response.

In fact, many, even in my organisation, were taken by surprise when one of our colleagues, out of academic interest, calculated and came up with a figure of millions of tons of CO₂ emissions saved per year by our clients using only one of our cutting-edge technology tools called topology optimisation in their product design and development phase.

According to an airline engineer, each ton of weight saved would result in 180,000 litres of fuel saved or accommodating a few more passengers for the same amount of fuel spent.

This figure would vary depending on the class of aircraft, range, and other factors, nevertheless leaving behind a big saving in carbon footprint.

Sustainable designs inspired by nature

By providing tools that lead to “conscious product development” and lightweight products, reducing CO₂ and appropriate selection of materials and conscious procurement decisions, Altair contributes to sustainable products with a concern for the environment.

Let us look at some examples.

Gone are those days when the designer’s answer to providing structural strength was to “add metal when in doubt”, making the product bulkier.

Also Read: Why the Carbon tax is just a step forward and not a solution

Add to that a lack of clear understanding of where exactly to add the material, and by corollary, were to remove it, resulting in adding it everywhere and thereby impacting the performance in turn.

Taking a leaf out of nature, a white-rumped vulture weighing 4.5 kg, flying at a speed of 45 km/hour, and requiring a lifting load of 8 kg, has a speed to weight ratio of 5.5. Meanwhile, the same speed to weight ratio for a light aircraft is 0.33, assuming a weight of 125 kg, 225 kg lift load and travelling at 75 km/hour speed.

Or in the case of land transportation, a cheetah weighing 72 kg could generate up to 130 km/hour speed while the coupe needs 700 kg to generate 100 km/hour.

This clearly shows the efficiency and effectiveness that nature has built into its design, making it sustainable (millions of years of evolution is the proof of innovation, designing for adaptability, and therefore a story of sustainability), thus providing a template for all human-created design.

More studies were conducted to understand and mimic the designs of nature, like our fingers, branches, and shells, among others. Evolutionary algorithms to mimic the evolutionary approach were generated.

Fitting software into the sustainability equation

As we understand the load paths better, we make more efficient designs with more optimal material layouts. This is where software (in a broader sense, computational sciences) makes the difference by guiding design engineers to create frugal yet functional designs of products.

While such design tools could offer weight reductions of unimaginable proportions, often the traditional manufacturing methods become the limiting factor in realising maximum benefit.

In conjunction with this new generation design software, additive manufacturing methods offer tremendous weight reductions.

Also Read: How to tackle climate change by choosing a career in cleantech

A comparison of a simple component designed by traditional design approach versus topology optimisation approach realised through additive manufacturing technique shows an average 40 per cent reduction. The range is anywhere between 20 per cent and 90 per cent.

The software could also be used to design products for their intended service life rather than for infinite life, as is the standard practice in the absence of such tools, thus tremendously reducing material wastage.

In addition to design software technology, data analytics software can conduct sustainability audits by analysing data collected from various points and databases in the product life cycle.

The machine learning algorithms in the sustainability audit could potentially identify the vendors, practices, manufacturing processes, materials, etc., that are not sustainable and suggest alternatives.

Also, the vendors, processes, and materials could be ranked based on the sustainability index pertaining to a specific country, region, or even micro-region, where the sub-systems or the complete product is built.

For example, in contrast to a material that has to come from across the globe to an alternative from a nearby locality – machine learning algorithms can help us make the right decisions.

An UN-appointed commission headed by Norwegian Prime Minister Gro Harlem Brundtland, in its final report, famously defined sustainable development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs…”.

As the world demands safer, more efficient, and more innovative products and processes, at Altair, we aim to transform design and decision-making by applying simulation, machine learning, and optimisation throughout product lifecycles.

By helping our customers accomplish their goals, we reduce the environmental impact of goods and services worldwide and across an array of industries.

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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.

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GoTo’s IPO books covered, to raise at least US$1.1B
The offering got support from long-term investors, such as the Indonesian units of fund managers Schroders SDR.L and Eastspring Investments; The IPO is expected to be priced in early April and will then be open to retail investors.

SG blockchain firm Spartan Group launches US$100M venture builder
Spartan Labs will focus on the Web3 sector; It has appointed former CoinMarketCap executive Shaun Heng to lead the new initiative; Spartan Labs aims to launch six to seven Web3 projects each year.

SEA-focused SPAC RF Acquisition prices US$100M Nasdaq IPO
The firm will seek a business combination with an SEA company in the new economy sector; RF Acqisition targets companies in the financial services, media, technology, retail and interpersonal communication, transportation and education sectors.

Toss operator set to raise US$1B to take on Grab, GoTo in SEA
Toss, owned by Korea’s Viva Republica, expanded to Vietnam in 2019 by offering money transfer and debit card services; It currently has 3M active users in the country and adds more than 500K new users every month.

theAsianparent adds LINE Southeast Asia to its cap table
theAsianparent and LINE aim to disrupt the fast-growing mother and baby-care market and will explore synergies in the APAC digital advertising market; The firm claims to reach over 35M users monthly and its revenue grew 100% in 2021 y-o-y.

Line to launch NFT marketplace in Japan next month
Line NFT is affiliated with 17 content firms and will sell 100+ types of NFTs; Those who buy tokens on Line NFT can exchange them with friends who are also registered Line users; Customers can pay for their purchases via credit cards as well as for cryptocurrencies such as Bitcoin.

Indonesia to implement strict rules on internet companies
The new rules will allow the government to fine and criminally charge internet and social media platforms; The rules are among the most stringent globally on social media and follow intensifying crackdowns on online content that have alarmed activists in countries like India.

Genetic testing startup Nalagenetics raises US$12.6M Series A
Investors include DxD Hub, Dexa International, and Diagnos Laboratories; Its solutions empower healthcare professionals to implement predictive and pre-symptomatic testing for prevention geared towards chronic conditions in Asia.

Thai SEC bans use of cryptocurrencies for payments
The government body said that the move would help prevent risks for citizens and businesses, including the loss of value caused by price fluctuations, cyber theft, information leaks, and money laundering.

Zipmex bags US$11M more in Series B money
Investors include B Capital, TNB Aura, Bank of Ayudhya’s Krungsri Finnovate, Master Ad, and MindWorks Capital; The crypto exchange startup will use the funds to boost its market expansion into newer SEA markets, including Vietnam, by end-2022.

Crypto won’t be legal tender in Malaysia, minister says
Deputy finance minister I Mohd Shahar Abdullah says Malaysia has no intention of legalising cryptocurrencies like Bitcoin; He pointed out how using cryptocurrencies involve drawbacks such as price fluctuations and cybersecurity issues.

Alpha JWC, Centauri lead US$8M round of Indonesian aquaculture firm Delos
Delos’s main offering is a shrimp farm management system called AquaHero that can increase farmers’ productivity and overall yields; It plans to build two new services: supply chain integration through AquaLink and a lending platform called AquaBank.

iPrice Group raises US$5M from Itochu, Global Brain unit
iPrice will expand its services to the lending market by helping users find the best e-commerce offering and consumer loans to fund their purchases; iPrice claims it compares and catalogues over 7B e-commerce offers from 8M+ sellers, attracting 130M+ unique users in 2021.

Singapore DeFi platform Struct Finance raises US$3.9M
Investors include Antler and Arcanum Capital; The platform opens up the number of investment choices available, enabling varying protection levels and abstracting risk management and complex pricing away from its users while providing yields on various digital assets.

Locofy, a low-code platform that helps users convert design to code, raises US$3M
Investors include Accel Partners, January Capital, Golden Gate Ventures, Boldcap and angels; Locofy aims to help engineers ease their workload by converting designs to code and automating at least 50 per cent of the current workflow.

Decentralised trading firm PrePO bags US$2.1M in strategic funding
The round was led by Republic Capital and IOSG Ventures; PrePO allows users to take long or short positions on pre-IPO companies and pre-token crypto projects; It also provides users access to pre-public assets and up-to-date market prices.

Indonesian fishery startup FishLog nets seed money
Investors include Insignia Ventures Partners, Arise Ventures, KK Fund, Ango Ventures, and Captain Fresh; FishLog provides solutions for the fisheries supply chain, including stakeholders like fisherfolk, processing partners, and cold-chain logistics players.

A stroll through Mohammed bin Rashid Al Maktoum Solar Park in Dubai
The solar park is a massive renewable project based on an independent power producer model and has a planned production capacity of 5,000 MW by 2030.

How Perfect Fit aims to promote greener, more inclusive period products to Indonesia
The startup’s products range from reusable period underwear (that can be worn on its own without other supporting products such as tampons or menstrual cups) and cloth pads; It is an example of a startup that started off as a project by a non-profit organisation that works in rural Indonesia.

How Gringgo leverages AI to help improve existing waste management system in Indonesia
Gringgo’s platform will allow households to understand better the value of their waste and, at the same time, contribute to improving the waste management system.

Digital bank licences: Why does everyone want a slice of the unbanked?
Digital banks seek to improve digital literacy and to lessen financial inequality amongst the underbanked population; But digital banks face a set of challenges, including significant cybersecurity and data protection issues associated with running an online-only bank.

How SWAP Energy aims to promote EV use in Indonesia through the advantages of battery-swapping
SWAP Energy builds battery swapping infrastructure with more than 400 swap stations already available in Greater Jakarta Area and Bali.

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