Since the COVID-19 pandemic, Southeast Asia’s online economy has grown incredibly. Driven by consumer patterns over the past few years and COVID-19’s impact on business, digital adoption has taken a quantum leap.

Digitisation has had an enormous effect on many business sectors, from e-commerce to finance and education and everything in between.

Education technology (edutech) investments have been steadily increasing over the last number of years, reaching a total of US$18.66 billion in 2019, with many edutech companies seeing a rise in installations and usage of their Learning Management Systems (LMS) and other software.

Without home-based learning enabled by edutech solutions, an estimated 135 million schoolchildren would have lost access to education during the global health crisis.

Due to the pandemic, teachers are dealing with increased workloads as they move lessons online and make them easily accessible for all students.

Many educators are suffering from burnout and mental health problems from the stress of trying to accommodate all their students’ needs while dealing with the impact of the pandemic on their own lives.

This begs the question, are educators benefitting from edutech, or is it merely adding to their already overburdened schedules?

The teaching crisis

There has been an ongoing concern with teacher turnover, and it’s safe to say the pandemic did not make things easier.

Teacher attrition is a persistent problem across the globe. Parental expectations, higher workloads, long working hours, and a lack of work-life balance have increased discussion on teachers’ mental health status.

Studies show that high teacher attrition lowers student achievement, with high turnover resulting in lower student scores, particularly in math and English Language Arts (ELA). 

Even with the advancement of educational technologies, without the input and support of teachers, a student’s learning progress is potentially stymied, and the addition of edutech can contribute to teachers’ already overstrained workloads, further stretching them.

Suppose these technologies are too complicated and require a lot of time to learn how to use them effectively. In that case, this adds to teachers’ already intensive workloads and makes teachers less confident in the tools.

Also Read: How edutech is solving the global teacher’s crisis

If they feel that they can’t utilise the tech confidently and effectively, they will be less likely to use them. With the pandemic in full swing, finding methods to reach students and continue their education with as little disruption possible is vital. 

For edutech to work and truly benefit both students and teachers, there is a pressing need for educational institutions to improve the working environment and support for educators.

The best way to ensure that these new technologies are helping, not hindering teachers, is to understand their needs the level of knowledge they have of using the systems and collaborate with them as much as practicable.

Edutech as the lever for empowering educators

The main goal of most edutech is to make learning more engaging for students and make it easier for teachers to deliver lessons. This LMS, platforms or software should help them deal with enormous workloads, not add to their stress.

Students already know how to use online reading materials, pre-recorded videos, remote assignments and digital tests. However, educators still need to figure out how to keep students interested and stimulated during their virtual learning journey to achieve better results.  

Edutech makes the personalisation of learning attainable in a way that wasn’t possible with physical classes alone.

It allows for real-time engagement and the creation of bespoke lesson plans and ability-targetted content. It is a time and cost-effective way for teachers to keep track of their student’s progress, aptitude, and skills.

Teachers can also maintain a clear picture of their learners’ overall progress. Customisation, gamification, and artificial intelligence are aspects of learning technology that can help students become more interested in what they are learning and remain engaged in the process.

Using AI to reduce educators’ workloads must not be overlooked.

It is possible to train or set up AI to take over monotonous and time-consuming duties such as taking attendance other administrative responsibilities such as sending reminders or timetables. It can also deliver structured feedback, develop tests and exams, tutor on concepts, answer questions, and evaluate student progress.

These machine learning capabilities will minimise teachers’ workload significantly. Still, it can free them up to devote more time to creating meaningful interactions with their pupils, which AI cannot accomplish.

Implementation of edutech adding to workload burdens

Even though students today are considered “digital natives”, they still depend on teachers to help them learn how to access and use online learning platforms.

Also Read: Edutech is surging, but here are the 3 issues it is facing

Many educators are battling against the distractions that internet-enabled devices can bring to the classroom. Some struggle to use the technology effectively despite the available resources and meet the added challenge of policing their students’ online activities during class time. 

Not every student or teacher has the same access to computers and the internet at home. This issue of accessibility presents further difficulties for teachers if they must assign different tasks to different students or avoid assigning homework with a digital component.

Having access to adequate technical support, enough computer labs, software, and time to learn how to use these new technologies effectively are other challenges some teachers face. As a result, they are under more stress than ever before as they grapple with these new pedagogical approaches. 

Edutech implementation should be tailored around the current learning workflow

In many cases, multiple technologies are used in the classroom, which can confuse students and make it hard for teachers to keep track and manage their usage while juggling all of them simultaneously.

Rather than simply following the latest trends, edutech should have the sole purpose of strengthening and improving existing processes and systems. 

There is a pressing need to develop technologies that alleviate the administrative strain placed on educators and make it easier for them to teach.

When this is the case, they can spend more time doing what they are genuinely passionate about, teaching and making a difference in the lives of their pupils.

Complicated technologies that demand substantial training put additional strain on educators, who may lose faith in their tools. Simple, practical tools are the key to success.

Technology plays a crucial role in ensuring dynamic lessons enhancing teaching effectiveness and efficiency in today’s classrooms. It is possible to democratise education and make it accessible to previously disadvantaged populations using digital technology.

However, much of it fails to address the specific needs of teachers and students, becoming a bane to educators instead. It is not enough to utilise an LMS, software or device and expect meaningful technology integration.

Therefore, more significant consideration must be given to the stack of edutech used in schools.

Educators must be involved in the development process to ensure that the technology meets the particular needs of each classroom, whether it is online or in the school building.

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Singapore-headquartered buy-now-pay-later (BNPL) company Pace Enterprise has acquired the assets of Rely, the oldest local player in the vertical, for an undisclosed sum.

As per a statement, the acquisition will enable consumers to use Pace’s alternative payment solutions across a wider network of brands in Singapore and Malaysia. The Rely team will be working with all existing merchants to transition them to Pace’s merchant platforms.

As part of this deal, all Rely employees will take on new roles at Pace aligned to their previous capacities.

Founded in 2017 by Hizam Ismail (CEO), Mohamed Abbas (CRO) and Prakash Raja (CTO), Rely is the first company to offer BNPL payment solutions in Singapore. The company has since scaled its operations regionally and partnered with leading retailers, including Qoo10 Singapore, ZALORA, JD Sports and SK Jewellery Group, among other brands.

In December 2020, Rely secured US$74.8 million credit facility from Polaris, the strategic partnerships arm of Singapore-based Goldbell Financial Services.

Also Read: Debunking BNPL myths: Is it going to be the primary mode of payment?

“With a shared purpose in democratising financial services across the region, we look forward to delivering more compelling offerings that cater to our customers’ financial needs,” said Turochas “T” Fuad, Pace’s Founder CEO.

Founded by Fuad, Pace aims to build a banking engine that can operate across countries to help merchants create sales efficiencies and provide consumers with an option to spend sustainably. Its BNPL solution for offline and online merchants matches customers with appropriate spend limits and allows them to split their purchases over three interest-free payments.

Pace operates in Singapore, Malaysia, Hong Kong, Thailand, and Japan. It has built over 5,000 points of sale across Asia and is on track to meet its goal of one million users by the end of 2022.

The startup also aims to have an annualised GMV of US$1 billion by the end-2022.

In June 2021, Pace secured an ‘eight-figure USD’ debt financing round led by Genesis Alternative Ventures. This followed a “seven-figure seed funding” round co-led by Vertex Ventures and Alpha JWC at the time of its official launch in January.

Fuad is a well-known face in Southeast Asia’s startup ecosystem, who previously launched and sold three startups. His first startup was WUF Networks, an Internet of things software company based out of Silicon Valley. The company was acquired by Yahoo! in 2005.

Fuad was also CEO and founder of travelmob, an online marketplace for vacation rentals. Headquartered in Singapore, travelmob was acquired by HomeAway (now part of Expedia) in mid-2013.

In 2016, the serial entrepreneur established and ran Spacemob. He was appointed as Managing Director of WeWork Southeast Asia and Korea after the Spacemob acquisition.

The BNPL market is booming in Southeast Asia. Digital lending, including BNPL, is expected to hit US$92 billion in transactions in 2025 in the region, up from US$23 billion in 2020, says a Forbes report quoting a Google, Temasek and Bain study released last year.
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In recent years, there has been a greater sense of awareness of the importance of diversity and inclusion in the workplace, especially as businesses realise the impact it can have in building a more open society and strengthening business performance. This inclusion also includes the acceptance of professionals of different neurotype, including autistic individuals.

Tech giants such as Microsoft run a programme where they hire and train neurodivergent individuals –which includes autistics– in various roles within the company. These individuals are recruited through a special process that is mindful of their unique needs; for example, the programme uses the popular video game series Minecraft as a tool for a team-building exercise during the recruitment process.

But how about us in the Southeast Asian tech startup ecosystem? Have we done enough? What lessons can we learn from our peers in Silicon Valley?

In this special piece for Autism Awareness Month, e27 speak to openly autistic founders and advocates to discover the challenges that they are facing in the workplace –and learn how we can build a more inclusive workplace for all.

Finding a place to belong

First, we must begin by understanding the urgency of the situation.

In Singapore, according to data by KK Women’s and Children’s Hospital and the National University Hospital, one in 150 children in the country is autistic, a higher rate than the World Health Organisation’s global figure of one in 160 children. The data further detailed that there were 4,400 such children in 2014 –a 76 per cent jump from 2010’s number of 2,500.

Also Read: Towards an inclusive society: Singapore-based startups that are building solutions for people with disabilities

Autism is an incurable lifelong condition. These children will eventually grow up to become adults, with all their strengths and weaknesses. As adults, the matter of living an independent life and finding a job is certainly on top of their (and their caregiver’s) priorities.

So what exactly are the challenges that autistic individuals face in the workplace?

Maisie Soesantyo, Founder of Autistic Career Pathways, a US-based organisation that helps businesses and communities build an inclusive workplace for autistic individuals, explains how the challenge begins in the recruitment process. She explains how there are not many companies that would be openly announce that they are willing to hire and facilitate autistic individuals.

This affects the matter of self-advocacy for autistic individuals.

“It doesn’t matter how brilliant your mind is; it doesn’t matter how talented you are. If you’re not empowered to self-advocate for yourself from the beginning, if you’re not invited to do that, at some point, you’re going to fail,” Soesantyo says.

“We have sensory processing differences. It means that our senses are calibrated differently. So for me, I’m very hypersensitive to sound, temperature change, crowds … and unfortunately, there’s really nothing we can do because we live in this world with all these stimuli input coming,” she continues, describing her personal experience as an autistic individual. “On top of that, of course, we are expected to perform in whatever job we were hired for … You fake it ’til you make it, but it’s very difficult. It comes at a cost to our mental health.”

When asked about the challenges that autistic individual faces in the workplace, Gita Sjahrir, Co-Founder of Indonesia-based Ride Jakarta, puts emphasis on the uniqueness of each autistic individual and the specific challenges they might have.

“When we think about the professional world, my biggest issue lies in executive function and also the ability to read people and their subliminal messaging, their body language. I’m actually notoriously bad at it … [but] I see it as a positive because it makes people speak to me in an extremely clear manner,” she explains.

“Like, ‘Let’s set expectations. Let’s do things with numbers. Let’s set these metrics.’ Because this is what I realise is often missing in the professional world with politics and drama. Issues happen because expectations were just not said,” she stresses, adding that she also struggles with keeping eye contact and managing energy levels.

As with any entrepreneur, fundraising is a challenging process for Sjahrir. But as an autistic professional, the challenges seem to intensify.

Also Read: What this digital shift means for people with disabilities in SEA

“What is considered as the image of a ‘successful potential entrepreneur’ can be anything, depending on the flavour of the moment. A lot of times you just don’t meet the criteria according to people’s perception, whoever the decision-maker is,” she stresses. “And we need to just be more open about that. Because this affects not just neurodivergent people, but also women, who have traditionally raised much less than men for virtually the same type of idea, for virtually the same stage in the investment.”

The challenges that she faces as an autistic individual are actually what led Sjahrir to embrace entrepreneurship. After years of trying to fit into neurotypical (non-autistic people) ways of socialising and interacting in the workplace, and seeing how it impacted her self-esteem, she decided to build her own company where she is free to create a culture for individuals like herself.

She builds a company culture that takes a more open and relaxed approach to mental healthcare and facilitates her team with mental healthcare app. In her journey, Sjahrir even finds people who actually appreciate her way of communicating.

“Turns out, people did appreciate the fact that I am very upfront with how things are, that my expectations are clear to the nth degree,” she says.

What businesses can do

In a contributed post to e27, serial entrepreneur Jeremy Foo writes about his experience in dealing with dyslexia and how it affects his approach to entrepreneurship.

“I realised from an early age that mixing up my letters and struggling to follow written commands made me almost invincible to failure. I did not avoid it; I expected it,” he states.

This got us wondering if there are certain professions or industries that tend to be more suitable for neurodivergent professionals, including autistics.

For Sjahrir, the opportunities lie in the fact that founding a startup allows autistics to build a company culture that suits the needs of their neurotypes, and others who may live the same experience as them.

“We become so attracted to doing our own thing … because we know that, deep down, as much as we try to be like everyone else, there’s a great chance that you won’t be like everyone else. And that’s not a bad thing, right? That’s actually fine,” she says.

Also Read: Why Khailee Ng puts mental healthcare support as key to successful founders-investors relationship

Soesantyo points out that in major tech hubs such as Silicon Valley, companies are leading the way in embracing the neurodiversity movement. But they still tend to focus on “one type” of autistic talent –those who are working as engineers or developers– when there is a wide variety of skills that an autistic professional may have.

“This is why I created our nonprofit Autism Career Pathways because I want to figure out a different way to spotlight all kinds of artistic abilities and talents,” she says. “Here we have Facebook, Apple, with all these big campuses. They have a cafeteria; they have the community spaces that can be outsourced to autistic people [who have the skills to run an F&B outlet].”

Another step that businesses can take is by doing job recruitments differently. Soesantyo explains that employers can start by opening themselves to different kinds of matrix to screen for neurodivergent jobseekers.

“Instead of just looking at the numbers and talents and abilities, you can really use a different way to get to know the job seekers and help them to stand out in the best way possible. I think some of the companies here in the Bay Area, they’re also already using video interviews,” she says.

“I think the accountability goes both ways. The hiring managers and the neurodivergent candidate need to have that open conversation from the get-go.”

From awareness and acceptance

In May 2021, tech billionaire Elon Musk revealed that he has Asperger’s Syndrome –a condition that now falls under the category of autism spectrum disorder in the fifth edition of Diagnostics and Statistical Manual (DSM-V) by the American Psychiatric Association, the “Bible” for assessment and diagnosis of mental disorders.

When it comes to promoting awareness and acceptance of autistic individuals to the public, one might wonder if public figures being open with their diagnosis will create a positive impact.

“Elon Musk or Sir Anthony Hopkins and all these prominent figures, when they come out publicly about their diagnosis, it’s because they feel the need to do that. It’s more for them. It’s not necessarily for the rest of the world,” says Soesantyo.

According to her, the only way to create an inclusive society is by learning to be less judgmental of others who are different.

“It’s often a big distraction for us when we fall into making judgments and saying stuff like, ‘Oh, you’re so smart, you can’t possibly be autistic. My message is that autism doesn’t have a look,” she says.

In her closing statement, Sjahrir puts emphasis on the importance of listening to neurodivergent people.

“When you work with a consultant on this thing, hire neurodivergent consultants, not neurotypicals who will speak over autistic voices and be paternalistic,” she stresses.

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In the last two decades, technological breakthroughs and societal trends have reflected on and transformed the workplace. From the dominance of the urban population to rural dwellers in 2009 to the launch of a fully automated, robot-powered hotel in 2022, it’s becoming clear that humans have to build innovation to thrive rather than rely on natural resources and the environment.

In 2020, we’ve learned that nature can introduce major challenges and disrupt workflows we believed were well in place, such as the traditional model of office work. A great example of this is how the spread of COVID-19 accelerated the shift to all-remote work.

Where, before the pandemic, only 1 in 5 Americans experienced full remote work, in spring 2020, 71% of surveyed workers were doing their jobs from home. Most are happy with the new working style — 92% of employees expect to keep working from home after the pandemic. 

Among the benefits available to the remote workforce are commute-associated time gains (extra 40 minutes daily) and significant cost savings (US$2,500 – US$4,000/year) related to housing and transportation. 

Is there room for offices in the post-pandemic world?

From the operational standpoint, employers benefit from the all-remote transition — on average, they save US$11,000 per year in rent, utilities, and other expenses.

However, executives are worried about the strength of their organisations and the unity of their remote teams. In fact, most employers believe that teams should work at the office at least 3 days a week to ensure a strong corporate culture.

Also read: oVice, a virtual office platform, uses innovative technology to redefine remote work

While acknowledging the added productivity and cost-efficiency of remote work, many employees also admit to its shortcomings. 35% of surveyed remote workers struggled to set up efficient collaboration workflows and loneliness, 29% had a hard time staying motivated, and 24% couldn’t make the most out of networking opportunities. 

Fresh hires felt the need for an office more pressingly than experienced employees. They want to spend as much time at the office as possible, working remotely at most 1 day per week. In their opinion, the office environment improves productivity and creates a comfortable environment for catching up with experienced colleagues. 

Hybrid work: connecting remote and office-based work

Instead of making remote and office work an either-or problem, executives are looking for ways to keep the best of both worlds by transitioning to hybrid workplaces. By enabling employees to work both from home and at the office, team leaders improve the autonomy, satisfaction, and work-life balance of their peers. 

In fact, hybrid work has become a standard for high-growth companies: 63% of such workplaces have adopted the model. 

It’s worth pointing out that the hybrid work model offers its unique challenges: operational strain (maintaining offices that don’t reach full capacity), a disconnect between the office team and the remote team, and others. Thus, in order to be sustainable, the hybrid work model should offer a common ground for employees inside and outside the office space. 

Virtual offices: a sustainable approach to hybrid workplaces

As is the case for many challenges of this century, technology is a helpful tool for solving the challenges of remote workplaces. Since the start of the pandemic, virtual office platforms have become a new trend. 

These spaces follow the physical laws of an office (you can move around, walk up to someone’s desk and start a conversation) but are more comfortable, accessible, and cheaper to maintain.

Also read: Breaking barriers and bias: How this VC empowers women to take the lead

Here’s how virtual offices revolutionise hybrid work: 

From an employee’s standpoint:

• Provide a playground for interacting with co-workers and building meaningful relationships
• Improve productivity by eliminating the need to schedule calls and use multiple communication tools
• Facilitate onboarding: new hires can get answers to on-the-fly questions and complete their training faster. 
• Promote work-life balance. Virtual offices encourage teammates to work only when they are logged into a workplace. 
• Offer networking opportunities: at a virtual office, it’s easy to get to know the entire team and connect with colleagues from different departments. 

From an employer’s standpoint:

• Operating cost-cutting: virtual offices are more affordable compared to physical spaces. 
• No location restrictions in hiring, full access to global talent, and the ability to build diverse, inclusive teams. 
• Ability to foster team building and corporate culture: virtual offices are customisable so they can be designed to reflect the company’s mission, vision, and values. 
• Constant availability: unlike Slack, email, or messengers, a virtual office helps team managers and founders get instant feedback from employees, eliminating bottlenecks and improving workplace productivity. 

oVice is connecting global teams in a virtual office

oVice is one of the leading virtual office platforms, used by over 2,000 companies worldwide and connecting over 45,000 people across global teams. The space is used by WeWork, AstraZeneca, Yamaha, Panasonic, and other large-scale teams.

oVice helps remote teams stay productive and connected through the mix of innovative performance-oriented technology and easy-to-use features. It connects employees through: 

• Spatial audio: all voice-based interactions have a range and are heard only by teammates inside that range. 
• Full customisation: organisations can edit and re-design office layouts to meet their needs and reflect their vision. 
• High-quality audio calls and seamless video connection. 
• Multiple screen sharing, one-click broadcasting, and shareable links.

Also read: Bridging the gap between insurance accessibility and the gig economy

oVice offers first-time users a 14-day free trial, allowing teams to fully experience the benefits of the platform and make sure it meets their needs. 

The product’s internal team also uses oVice to build and promote the product. To take a look behind the curtain and see how the platform is made, discuss the technology behind it, and oVice use cases, take a look at the team’s tour space.

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

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Last week, US President Joe Biden took a tentative first, yet trailblazing, step into acknowledging the digital world of finance. He signed an executive order in which he strongly urges the government to review the risks and benefits of cryptocurrencies.

So what does this mean for the crypto space in the short and long term?

The order focused on six key areas:

• Consumer protection
• Financial stability
• Illicit activity
• US competitiveness
• Financial inclusion
• Responsible innovation

Additionally, Biden wants to place “urgency” on Central Bank Digital Currencies (CBDCs) research and encourages a different look at what he terms the Digital Dollar. This is a clear signal to the Federal Reserve to ramp up efforts to create their digital currency.

It is fair to say that before executing this executive order, lawmakers had not even begun to set their sights on reform to keep up with the new economy. This next step may have caused a divide in the White House and across congress.

Consumer protection

In his executive order, Biden first addressed the issue of consumer protection, a sticking point for many politicians who see price volatility and the potential for rug pulls or scams as a dealbreaker. 

Biden’s statement emphasises the need for the “protection of consumers, investors and businesses” by deploying strict data privacy and security rules. 

Anyone familiar with crypto will be aware of half-baked companies running away with punters’ money after the first wave of investment, abandoned projects, and other scams or swift pump and dumps. 

With regulation comes the opportunity for industry-wide growth as retail and institutional investors respond to greater security in the space. Backed by the US government, there may be more advanced and accessible cryptocurrencies in the offing.

Also Read: Here’s how you can earn passive income with cryptocurrency easily and safely

Illicit activity

The Financial Action Task Force (FATF) has 39 countries as members and is instrumental in intergovernmental cooperation in combating money laundering and terrorist financing. As this is a major concern developing out of the proliferation of cryptocurrencies, it makes sense FATF would lead the way in issuing guidelines on digital assets.

As a result, anti-money laundering (AML) and knowing your customer (KYC) systems are at the forefront of the bill. Biden continues that “we must mitigate the illicit finance and national security risks posed by the misuse of digital assets.”

Whether it’s money laundering, cybercrime and ransomware, narcotics, human trafficking or terrorism, the United States government has consistently seen the lack of money laundering standards in jurisdictions abroad as more than just moral aberrations, but also a great financial risk for itself and the global financial system. 

Those making policy on digital currencies thus needs further guarantees, which is something Biden makes clear.

Climate change

Slowing down the effects of climate change is another worldwide issue. Indeed, the EU tackled the topic in a recent session alongside concerns over AML and anonymity regarding digital currencies.

It’s no secret Bitcoin mining consumes a large amount of energy, more than the whole of the Philippines, a country of 110 million people, so Biden has made it clear that moving forward, digital currencies are going to be more responsible about their carbon footprint.

A greener solution for the world of crypto is likely to become the next hot topic. This is a topic that has been brought up by influential characters from Elon Musk to the Pope and, of course, many state leaders.

Some Proof of Work (PoW) chains have already transitioned to greener validation methods, as has the Proof of Stake (PoS) consensus mechanism. The technology is being ironed out and may bear greatly on the future of digital currencies.

US competitiveness

The dollar could have cemented a position at the top of global finance following the 2008 crash had the US government not opened the taps for its allies and left others in the lurch were they deemed not close enough to the sphere of influence. For example, Brazil got access to more dollars when they desperately needed stability. India did not.

Instead, China has filled in the gap by happily forging ties with countries the USA neglected in the past and opening access to renminbi funds: it is now the 8th most traded currency in the world and is trending upwards.

Part of the executive order highlighted the need to reinforce US leadership in the global financial order. Biden clarifies his aim to maintain hegemony by remaining at the forefront of the responsible development and design of digital assets.

Also Read: Crypto governance: Adopting a decentralised approach to governance

China may have banned cryptocurrency completely but will undoubtedly be interested in a digital currency that underpins new forms of payments and capital flows in the international financial system. It would make the belt and road initiative even more seamless.

The current state of geopolitical affairs could advance decision making as the USA looks to build a currency they can better control, trace and ultimately use to make purchases in an uncertain world.

Digital dollar

It all comes down to Biden’s executive order, and posturing toward a digital age economy is the Digital Dollar. 

Placing “urgency” upon the need for the administration to research and develop a CBDC and explore design and deployment options is the furthest any president has gone in recognising the potential for a cryptocurrency.

China and Europe are forging ahead with the development of CBDCs, but as mentioned previously, the former has banned all other types of cryptocurrencies.

Suppose America can get it right and create an environment where a Digital Dollar can thrive without being used for illicit activities or aid in money laundering. In that case, the free market will benefit from a rulebook that removes any doubt about what a legal cryptocurrency looks like.

It’s not just about the Digital Dollar becoming a world-leading digital currency, mirroring its Fiat counterpart. Still, about the legitimacy, it lends to the private sector in developing their own cryptocurrencies. 

Innovation is how the best technology is delivered to the masses. Granting already popular cryptocurrencies (and those still yet to be developed) the opportunity to become regulated and secure may be the vehicle needed to secure America’s precarious position at the top of the global financial order.

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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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The COVID-19 pandemic has negatively impacted just about every industry, but those in travel, hospitality, food and beverage, as well as attraction and entertainment had it particularly bad.

I have been active in the family entertainment centre (FEC) industry for the past 20 years, so it pains me to see these operators struggling to stay afloat as the crisis extends.

Many of them did not make it, but fortunately, several hang on to the present recovery phase. From this point on, the survivors must quickly come to terms with how much the world has changed in the last couple of years and get themselves ready to thrive in the post COVID-19 world.

So, what can operators do to meet the demands of the new normal, reinvent and rejuvenate their businesses post COVID-19, and how can they prime themselves to effectively leverage the changes so that they can quickly take advantage of emergent opportunities?

Digital transformation to ensure success

As the CEO of Embed, I partner with FEC operators and propel their businesses to become FECs of the future.

Just like how manufacturers make use of cross-disciplinary technologies to enable smart manufacturing, or financial institutions to tap on fintech services to offer smart banking, we help FEC businesses take advantage of digital platforms to create an integrated, future-proof and sustainable smart FEC operation.

Digital transformation is needed to break the fences of conventional systems and boost legacy business operations as the world heads towards recovery. Surviving operators must understand the extent of consumer behaviour evolution and adjust their operations accordingly to ensure business continuity and future-proofing.

First, operators need to use a platform that integrates workflow and streamlines processes. Several platforms offer this opportunity to digitalise.

For example, there are ten modules of tools on the Embed platform, each dedicated to a specific operational function: Operations, Head Management Office, Customer Sales Channels, eCommerce Management, and Distribution Management.

Also Read: How Asia’s entertainment industry can adapt to changing dynamics amid a global calamity

By facilitating digital continuity and integration across the different functions, FECs can be much more efficient in centralising data, reports, and operations management.

Cashless solutions for a post COVID-19 world

Secondly, FECs should explore the adoption and integration of cashless solutions into existing systems. Today, consumer spending and payment habits have permanently changed, thanks to social distancing, safety protocols, and remote working.

After two years of increasing exposure to e-wallets and cashless payment systems, it is reasonable for consumers to expect a similar convenience at entertainment venues.

Mobile wallets are becoming commonplace, with mobile wallets reaching 2.6 billion users in the Asia Pacific by 2025, according to Boku. Coupled with the easing of COVID-19 restrictions, there are increased expectations that consumers need to get to their desired game or attraction quickly, without the encumberment of cash, tickets, or tokens.

Customers will enjoy increased convenience by eliminating contact with tokens, coins, and tickets; allowing them to stay in the zone and do reloads and purchases at any time without the risk of losing a game card.

Mobile wallets also hold several advantages for operators. It reduces operating costs (no coins, tickets, and game cards to process and maintain, and zero cost from downtime or unplanned maintenance), as well as the assurance of repeat business.

Beyond cashless technology, RFID technology also extends the customer experience. New tap cards and wristbands make it easy for hyper-personalisation, with membership details, balance, and reward tickets available in a pinch.

With software and hardware solutions, FEC operators can digitally deliver a superior guest experience, available on-premises and in the cloud, to best integrate the operator’s legacy systems.

The sky’s the limit for FECs of the future

Digitalisation is the key to success, and FECs need digital transformation to welcome tomorrow’s consumers. From cashless systems that allow operators to take their digital transformation enterprise-wide to ever-changing technology that caters to consumer preferences, the future is bright for FECs.

FECs should take a leaf from the Golden Age of Arcades and get creative in the way they embrace digital transformation and a platform strategy for success.

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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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There are many ways to define and showcase a city’s startup and innovation ecosystem. But regardless of which frameworks you’re leaning on, you cannot leave out the crucial elements that remain constant: culture, corporate, capital, and community.

In the first of a two-part series, I’ll be sharing an overview of Tokyo’s startup and innovation ecosystem by introducing one organisation representing each of the four elements. These organisations are key stakeholders that you’d want to know about and connect with if you’re thinking about expanding your business there.

But first, why Tokyo?

Tokyo’s city GDP at US$965.4 billion ranks number one in the world, with a population of close to 14 million and seven unicorns birthed to date.

The country’s e-commerce, logistics, and fintech industries boast a combined market size of more than US$375 billion, while technologies like AI, AR/VR, and blockchain are fast emerging with expected CAGRs between 45 per cent and 110 per cent year-on-year.

According to Gen Uehara, Head of Asia Pacific at Symphony, there is a significant digitalisation opportunity explained by the gap between the city’s GDP ranking number one in the world, vis-a-vis its digital competitiveness ranking coming in at number 23 globally.

Symphony, a fintech company headquartered in New York, decided to capitalise on this opportunity by entering the market amid the global pandemic. With Uehara-san’s leadership and hustle, they managed to onboard two of the largest financial institutions in Japan as its first investor and client locally.

Yusuke Suzuki, Partner from Global Brain, also shared that the SaaS market in Japan is expected to grow at a CAGR of 13 per cent from 2019 and is expected to reach US$9.6 billion by 2024. There is huge confidence that the local enterprises’ need for B2B solutions and digitalisation is large enough for startups to grow in the domestic market alone.

Also Read: How this Tokyo-based startup is revolutionising the restaurant industry with AI and big data

Masaru Nagura, General Manager from Cambridge Innovation Centre (CIC) Japan, added that there’s never been a better time to enter Tokyo; with the ecosystem flourishing, activity and support from all fronts including the government, corporates, ecosystem builders, venture capitals, universities, event organisers, media.

Culture: Tokyo Metropolitan Government (TMG)

The saying goes that culture must start from the top in any organisation. In the context of a city striving to be a startup and innovation hub, the direction is fuelled by the government.

In March 2021, the Tokyo Metropolitan Government (TMG) announced its Future Tokyo strategy, signalling a strong intent to continue fostering a culture of startups and innovation with an inspiring vision that is accompanied by clear objectives and KPIs to strive for in the mid to long-term.

This culture is propagated through the Tokyo Consortium, consisting of 218 member organisations (and growing), and Invest Tokyo’s comprehensive range of programmes and initiatives that run locally and internationally throughout the year. 

The Business Development Centre Tokyo (BDCT) provides free consultation on in-market business development activities such as market analysis, go-to-market strategy, and business matching for select startups looking to enter the market.

The Tokyo One-Stop Business Establishment Centre (TOSBEC) also provides foreign companies with market setup related services, such as incorporation, business compliance, and taxes.

Corporate: NEC Corporation (NEC)

A global leader in integrating IT and network technologies, NEC plays a crucial role in Tokyo’s startup and innovation ecosystem, with a multi-prong approach towards corporate innovation.

The technology giant has its internal R&D ecosystem and capabilities focused on developing its core product and technologies in AI, network (5G), and security (biometrics).

But they are also actively engaging startups through its open innovation platform in areas beyond its core expertise.

Also Read: How can corporate executives, startups, and VCs stay ahead of the innovation curve?

Some examples include their JV with US-based Vista Equity Partners to develop enterprise software solutions for the Japanese market and strategic collaboration with France-based Transgene to develop a new solution in cancer immunotherapy.

Launched by NEC in 2018, NEC X is a corporate accelerator programme located in Silicon Valley that aims to accelerate the generation of new startups and spinoffs.

Each programme is run in batches of anywhere between six to nine months, matching cutting-edge technologies developed by their labs, together with entrepreneurs-in-residence and investors brought in externally from the larger Silicon Valley ecosystem, to incubate new ideas commercialise new businesses.

Capital: Global Brain

One of the leading VCs from Japan, Global Brain has a rich history and proven track record of more than 20 years of investing in early-stage startups. Even amid the global pandemic, the fund invested in 103 deals in 2020 alone and boasted an 80 per cent coverage of the Series A rounds covered in Japan.

Global Brain is unique in that they manage eight corporate venture capital funds. At the same time, their milestones to date currently boast 77 exits (M&As/IPOs) and eight regional offices set up across the world.

Their investment areas include AI, AR/VR, blockchain, climate, cybersecurity, fintech, and Saas, to name a few. The fund has industry and technology experts in all areas they invest in. They also have a dedicated business team to support portfolio companies with business development, human resource, and intellectual property related functions.

Some of the overseas portfolio companies that they’ve successfully facilitated market entry into Japan include the likes of IoT service provider, Unabiz, and cybersecurity solution, Source Defence. 

Community: Cambridge Innovation Centre (CIC) Tokyo

CIC is a global innovation community that aims to support impactful entrepreneurs to fix the world. Founded in 1999 in Boston, United States, the community has a total leased area of 1.23 million square feet across nine cities globally and more than 7,400 member companies since its inception.

CIC Tokyo was established in October 2020 as the largest innovation centre in the city, with a combination of hardware and software focussing on four key areas: energy and environment, life science and healthcare, edutech, smart city.

Its hardware has a capacity of 100 coworking desks, 160 private office rooms, conference rooms, and access to amenities like a kitchen, nap rooms, massage rooms, and nursery rooms. Its software includes a local and international community of 150 residents and over 220 programmes/events hosted. 

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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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So far in this series, we have established that thought leadership articles are a great way to stand out in the competition and reach out to audiences but, if done right, these articles can also be excellent for brand building.

In fact, a 2020 survey conducted by Edelman and LinkedIn found that nearly half of B2B decision-makers believe thought leadership influences their purchase decisions. However, it is important to remember that there is a fine line between brand building and hard selling. 

Here’s how you can leverage the e27 Contributor Programme for free to use well-written thought leadership articles for brand building without sounding like a salesman on the door from the 90s.

Pick stories that will help establish and strengthen your brand

Thought leadership allows you to utilise your trailblazing ideas to position your brand as an authority but knowing what stories can help establish and strengthen your brand value is important.

Luckily, there is no dearth of choices for writing thought leadership articles for the e27 Contributor Programme.

You can write about almost anything that is of importance to your brand: your founding journey, the challenges you faced, how you overcame those challenges, your main inspirations, a new product launch and the story behind its inception and so on.  

You can also share lessons that you may have learnt in your entrepreneurial or investment career so far, team management techniques, recruitment tips, fundraising dos and don’ts, productivity hacks and even your opinions on any ongoing current trends in the Southeast Asian startup ecosystem.

By giving your audience an insight into how your brand has evolved in line with a specific topic through thought leadership, you add a layer of credibility, which is often hard to achieve any other way.

Also Read: How to become a thought leader with the e27 Contributor Programme

Thus, any story that establishes and reinforces the ethos of your company while engaging and informing readers is not only a great thought leadership piece but also an excellent way for brand building. 

Hard selling will not help your brand

Another key thing to remember when approaching thought leadership with the intent of brand building is to stray away from hard selling. Thought leadership articles are about value-add (the reader and the writer) on both sides and not about aggressive selling.

It is very important to be careful with how you present your story. For example,  if you are talking about a product, focus on aspects like what went behind the ideation and development of the product or what are some of the key challenges that it helps address; you can also share some use cases to show how the said product has helped a client address the gaps and succeed; instead of simply listing the product features. 

Remember, thought leadership articles help you establish yourself as a subject matter expert and people continue to read your contributions 

• to learn from your experience
• to understand your brand and product better
• to solve their problems 

If you try to make your readers clients before you have had a chance to develop a relationship with them in which they have come to trust you and consider you an expert in your industry, the chances of that relationship lasting are way too slim.

Building credibility is critical to the long term success of your business, and you can easily do that through well-written thought leadership articles that do not focus on selling but on connecting.

Use the company profile page for branding

The e27 Contributor Programme has a range of tools and features that help authors establish themselves as industry thought leaders. One such feature is the company profile page and author profile page.

These are effective branding tools that essentially provide you with the scope and space to tell the audience more about your company.

You can give audiences an insight into your interests and experiences by utilising the author profile page, they can see how active you publish plus your key areas of interest; and with the company page, you can tell them what your tech startup or business is about, what solutions do you offer to what industries, investment stages and more.

The best part, once you create a company page on e27, it will always appear alongside your contributed article thus providing additional visibility for your brand.

Also Read: Write, connect, grow: What motivates us to run the e27 Contributor Programme

Here’s some inspiration to get you started

From a great hire to a public mistake and an unexpected IPO to a regional expansion, use the contributor programme to share your growth story without bragging. The key rule to keep in mind is ‘show, don’t tell’. Show the ready how you did it, why you did it, what you learned, etc. instead of simply saying you expanded to a new market.

For example, in this thought leadership article on FastCompany, Stu Sjouwerman illustrates his personal experience of hiring an infamous hacker and how that went for his company.

This is a thought-provoking, interesting piece for the audience that basically discusses why hiring a hacker might be a good idea for a business but also touches on second chances and redemption. 

Another excellent example of thought leadership is this e27 article by Rajesh Jain where he discusses his founding journey while sharing his failures and explaining how they’ve been an integral part of where he is today.

This is an engaging article that teaches audiences about the struggles of a founder and his journey as a leader. These personal insights allow readers to see beyond the surface. It humanises the brand thus fostering a deep relationship of the readers with the company.

If you are a startup founder, VC, journalist, entrepreneur, industry expert, government official, student and/or anyone with a relevant story looking to stand out and build a brand through thought leadership articles, get started on your first draft and submit it here.

Through the e27 Contributor Programme, you get a chance to be featured on e27.co and noticed by more than two million readers and 50k+ newsletter subscribers in the region. So, get started today!

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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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The post How to leverage the e27 Contributor Programme for brand building appeared first on e27.

OpenSea raises US$110M for second Web3-focused fund
gumi Cryptos Capital will invest in early-stage companies that build solutions in blockchain infrastructure, developer tools, gaming, DeFi, metaverse, DAOs, and Web3 apps; It aims to back 50 companies, with a ticket size between US$500K to US$5M.

Indonesia’s Quick commerce startup Astro finalises US$60M Series B round
Accel Partners and Tiger Global are said to be leading the round; The firm raised US$27M in Series A ed by Accel and Sequoia India in February; Astro offers 1,000 products and promises 15-minute delivery.

Insitor completes US$42M first close of Fund II, strengthens gender lens focus
It has a target to reach US$70M by the end of 2022; It plans to make 12-15 investments in high-growth and scalable ventures better health, sustainable living, and economic growth; It has already backed three companies in India and Pakistan.

GoTo begins US$1.1B IPO process
The amount is lower than the company’s initial plan to raise a maximum of US$1.4B; The final process, which has been approved by Indonesia’s Financial Services Authority, will catapult the company’s valuation to US$27.9B.

Axie Infinity side chain loses US$620M in possible largest-ever crypto heist
Ronin Network suffered a security breach, resulting in the theft of 173,600 ether and about US$25.5M in USDC stable coins; The attacker used hacked private keys in order to forge fake withdrawals.

Animoca backs US$10M round of metaverse-bound healthtech firm GOQii
GOQii has also partnered with Animoca to develop a health-focused metaverse ecosystem with a new virtual token program called Token; GOQii’s metaverse foray builds on GOQii Cash, a virtual rewards program that launched in 2018.

Ampverse nets US$12M Series A to grow its e-sports platform in Indonesia, Philippines
Investors include Falcon Capital, Vulpes, Gandel Invest, and gaming, media, sports and e-sports industries veterans
Ampverse will also look to acquire play-to-earn guilds it moves into the P2E space to complement its existing e-sports IP pillar.

Mighty Jaxx closes Series A+ round to take its phygital collectibles to China
Investors are iDreamSky Technology and an undisclosed tech firm; This deal comes days after Mighty Jaxx announced the first close of a US$20M Series A extension led by East Ventures (Growth Fund).

Pace acquires Polaris-backed buy-now-pay-later pioneer Rely
The acquisition will enable consumers to use Pace’s alternative payment solutions across a wider network of brands in Singapore and Malaysia; Pace operates has built 5,000+ POSes across Singapore, Malaysia, HK, Thailand, and Japan.

Japanese HR firm Mynavi buys East Ventures-backed design marketplace Sribu
Sribu connects companies who are looking for branding and marketing solutions to freelancers that can answer these needs; It has helped 15K+ small businesses and corporations, including Telkomsel, Pertamina, and Baidu.

TipTip raises US$10M in seed funding
Investors are Vertex Ventures, EMTEK, SMDV, and family offices; TipTip enables content creators to monetise through personalised video sessions, the sale of premium digital contents, and direct interaction opportunities with their followers.

Akulaku raises US$10M in debt funding from Lend East
The firm plans to use the funds to build and enhance its lending portfolio in its key operating markets in Indonesia, the Philippines, and Thailand; The startup offers services including digital banking, consumer credit, digital investment, and insurance brokerage

The Assembly Place (TAP) to buy co-living peer Libeto
The acquisition would involve Libeto Commontown’s head leases and sub-leases totaling around 120 rooms; TAP said the move will increase its presence in Singapore to over 600 operational co-living rooms, with another 200 in the pipeline set to launch by May.

YC doubles the number of SEA startups in latest cohort
It has unveiled the 33 SEA startups that have been included in its latest winter 2022 cohort; The number is almost doubled from the last batch and amounted to around 8% of the 414 startups that were funded by the accelerator in this cohort.

Singapore startup EcoWorth Tech converts highly contaminated waste into reusable products
EcoWorth commercialises Carbon Fibre Aerogel, a highly absorbent material that is non-toxic, natural, and recyclable; It’s now developing solutions to efficiently remove oil from maritime applications and various spills on land and in lakes and ports.

Vietnamese healthtech startup Med247 raises US$4.5M funding
Investors include Altara Ventures, Pavilion Capital, MiRXES, East Ventures, and KK Fund; Med247 employs remote photoplethysmography technology coupled with AI predictive analytics to screen patients’ vital signs through their smartphone cameras.

JiPay raises US$1.3M seed funding to build a fintech platform for migrant domestic workers
Investors are East Ventures, SHL Capital, and Manila Angel Network; JiPay aims to build trust between families and their domestic helpers and offers an app for employers to track household expenses.

Why Quest Ventures believes that the human-centricity of ESG investing will be more apparent
As the newly appointed Head of ESG for Quest Ventures, Michelle Ng, explains how the firm aims to double down its effort in this matter.

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The post Ecosystem Roundup: OpenSea forms US$110M Web3 fund, GoTo begins US$1.1B IPO process, Pace buys Rely appeared first on e27.

Malaysia-based agritech startup Plant Cartridge announced that it has secured a US$3 million seed funding round from 500 Global and a private group of business conglomerates.

In a press statement, the company said that it plans to use the funding to expand its operations by 1,000,000 square feet, and develop new advanced farming solutions that are sustainable, scalable and accessible.

“The enthusiastic support of our investors is a testament to the importance of our work and the confidence they have in Plant Cartridge’s technologies. In return, our team’s immediate focus is on scaling our operations quickly to enable more farmers in Asia to be sustainable, efficient, productive, and profitable,” said Channing Liang, CEO of Plant Cartridge.

Founded in 2016, Plant Cartridge aims to transform the agricultural industry and food supply chain by empowering agriculture producers. The company’s services range from modern sustainable farming systems to financial support and market access.

Also Read: 25 notable startups in Malaysia that have taken off in 2021

It provides agriculture investors and operators with hardware and software for controlled environment agriculture (CEA), including seed, germination, irrigation, and nutrient management systems, along with an integrated farm operating system for crops such as leafy vegetables, fruiting or tuberous plants. It builds greenhouses, indoor farms, and open planting for farm owners, complete with all its supporting facilities.

The Kuala Lumpur-headquartered company said that its solutions allow farm owners of all sizes to reduce environmental impact while increasing productivity. The advantages include decreasing growing media usage by up to 200 times, reducing water consumption by 90 per cent, and boosting crop yield by up to 10 times.

Co-founders Liang (CEO) and Michael Mak (COO) were IT professionals in multi-national corporations with deep experience in leading large-scale sustainable integrated farm projects for the government.

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