This article is published as a part of a partnership with Recruitery. Recruitery is an all-in-one hiring platform that provides headhunt, payroll, taxes, and compliance solutions for remote teams in SEA. 

Recently, I’ve seen many office employees continue to check their work email and messages when travelling. I believe this is due to the fear of losing associates during sabbaticals.

When they go out with me, they joke and drink, but five minutes later, I see their hands clutching computers or phones to check email, and I wonder why they can’t avoid work.

I questioned my pals directly, and their response was unsurprising: they work over the break to prevent feeling suffocated when they return to the office by arranging things remotely.

Qualtrics, a software business focused on customer experience, reported in a recent survey that almost half of American employees continue to work an hour every day while travelling. After the COVID-19 pandemic, this habit began to flourish as vacations grew more exotic than before. With a laptop and a Wi-Fi connection, employees may do any task from any location as long as they have access to the Internet.

Since the offices closed in March 2020, work has become a “ghost” that haunts workers in their homes until they go to sleep. The privilege to disengage while socialising no longer exists.

Consequently, the fear of falling behind is one of the primary reasons office employees cannot quit working. With the arrival of the summer tourist season, the already-desolate workplaces become even quieter. Because of the high volume, the operation has been relocated.

30 per cent of Qualtrics poll respondents said that bosses and coworkers expect them to continue checking text messages and phone calls while abroad. In addition, 27 per cent are anticipated to react to emails, while 20 per cent are predicted to engage in an online meeting.

Achieving work-life balance

The boundary between work and personal life is becoming more porous. For example, the vacation is cancelled instantly when the manager writes an “urgent” email.

According to other research, the chance of disconnecting on leave varies by age and employment. Only 47 per cent of those between the ages of 21 and 25 can give up work entirely, compared to 65 per cent of those aged 45 and older. This may be because the remaining group’s responsibilities expand with seniority.

Also Read: How small companies can prepare for recession

Teachers had the most significant trouble disconnecting from work, with 73 per cent of poll respondents stating that they find it challenging to ignore work-related emails even while on vacation. They were followed by attorneys (71 per cent), accounting specialists (59 per cent), finance professionals (55 per cent), and consultants (51 per cent).

In contrast to the areas above, employees in technology and healthcare find it simple to “leave work” and walk out.

I believe it is normal for workers to work on holidays. However, this is seen as a harmful trait that leads to burnout and increases the likelihood of resignation.

According to a poll conducted by Recruitery, up to 30 per cent of employees claim they want to resign after returning to the workplace, and almost half have already done so. In an age of tiredness and emphasis on money, I believe that employees’ primary source of mental health issues is their employment.

I believe that for workers to enjoy an entire vacation, the manager must encourage subordinates to relax in the most comfortable manner possible and instil in them the attitude that “it’s acceptable if they want to ‘disappear’ for a few days.” Employers must also verify that they can pay applicants according to their Paid Time Off (PTO) policy.

Managers must encourage employees to physically and psychologically disconnect from work during holidays. Long-term stress may lead firms to lose employees to rivals that value employee wellness. PTO is not just a competitive advantage when it comes to recruiting but is also essential for preventing employee burnout.

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Singapore-based RootAnt, the company behind the banco financial platform, has raised US$4.5 million in its Series A2 funding round anchored by SBI Venture Capital, according to a DealstreetAsia report.

According to an ACRA filing, SBI Venture Capital invested US$2 million in the funding round, followed by the participation of Hua An Investments Ltd and Sumitomo Mitsui Banking Corporation. The two companies invested US$1.1 million and US$1 million in the fintech startup, respectively.

The funding round also included the participation of Sixtwo Capital, CMPL Angel Seed Fund, and R3 Limited.

It followed a US$1.5 million seed funding round that RootAnt announced in 2020. It was led by Chinese investment firm Linear Capital and co-investor KZM & Company Group.

Also Read: How digital banking is driving financial inclusion in SEA

In addition to that, SBI Holdings have also been reported to have invested in RootAnt for a 4.8 per cent stake.

RootAnt provides a Banking-as-a-Service (BaaS) platform that connects enterprises and financial institutions with new digital financial products.

Its banco platform provides new digital financial products that include supply chain finance and green finance that are integrated with alternative data from enterprise systems, customs, logistics providers, and government databases. It utilises AI and blockchain technologies in its implementation.

It is one of the latest companies in the Southeast Asian region to seize the opportunity provided by the rise of digital bank services.

As detailed in a contributed post to e27 by Srihari Sikhakollu, CEO at eRemit Singapore, some digital banks in other regions have been unsuccessful due to poor funding strategies, focusing on the wrong demographic or failing to inspire customer trust and loyalty.

However, digital banks who have successfully leveraged technology have reported saving 20 to 30 per cent more on their per-account operation costs compared to traditional banks.

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Meta invests in Take App, a Singaporean startup that helps merchants sell via WhatsApp
At its core, Take App serves as an easy way for those with little technical know-how to set up a simple website to facilitate online orders, replete with a shopping cart, payments, and a direct connection to WhatsApp for managing and tracking the final order.

Alpha JWC leads Filipino parenting e-commerce startup edamama’s US$20M Series A round
edamama will use the capital to expand its operations, including same-day and next-day delivery, to more locations across Metro Manila. It will also enhance its content and community elements, launch its own offline stores and scale its private label portfolio.

Vietnamese logistics firm restocks with US$6.4M investment
Boxme currently has two fulfillment centers in Vietnam that cover more than 12,000 square meters and can process over 50,000 orders per day. With the fresh capital, the company plans to expand these facilities to 30,000 square meters with a capacity of 150,000 orders.

Navis Capital Partners to exit B Medical Systems, strikes two new investments
With a global presence in over 150 countries, B Med is the world’s single largest vaccine cold chain provider. It provides storage and transportation of temperature-sensitive vaccines to a significant part of global populations.

Society Pass acquires Indonesian traveltech firm NusaTrip
Founded in 2018, Society Pass focuses on acquiring Southeast Asian ecommerce players to build a loyalty and data marketing ecosystem.

Does investing in Bitcoin still make sense?
While the crypto crash has left many shaken, the fundamental case for investing in Bitcoin has not changed in the least. It can actually be a good opportunity for investors to increase their exposure to Bitcoin, provided they have the ability to stomach significant volatility ahead.

How digital technology can transform the food and beverage industry
If the food and beverage sector is to achieve lofty growth, continued investment in technology must play a significant role. As one example of digitalisation within guest experience, it’s already hard to imagine a world without the option of online ordering and food delivery.

AC Ventures, BRI Ventures back Indonesian SaaS startup’s US$10M round
Founded in 2019 by Adi Wahyu Rahadi and Audia Harahap, Majoo offers solutions for SMEs, including an online cashier system, an online shop dashboard, inventory management, and accounting tools.

7 drivers of Southeast Asia’s “golden hour of opportunity” for startup founders and investors
Southeast Asia’s startup ecosystem can grow ten-fold amidst the global turbulence and uncertainties with the “golden hour of opportunity”. This is why, in this article, we cover key, practical opportunities for both early-stage startup founders and investors to take advantage of.

Why ‘Indonesia-only’ Intudo Ventures believes SEA as one cohesive market is a fallacy
Intudo Ventures believes VC funds investing in SEA as one collective market underestimate the difficulty presented by fragmentation that such a strategy faces hopping from market to market.

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With the exponential growth of digital services and solutions in the region, a proliferation of data sharing across industries is more present than ever. Riding on technological advancements such as machine learning, the Internet of Things (IoT) and artificial intelligence (AI), it is now possible to access and analyse large volumes of data to enable smarter business outcomes in a fast and effective manner. 

As organisations increasingly move data across sectors and borders, it is vital for all players to understand the risks of data sharing, ensure that data privacy is maintained, and explore ‘Data Sharing 2.0’ where data does not need to be shared in order to unlock the possibilities or insights sought after. 

In Singapore, data protection laws have been in place for over a decade, protecting customers’ interests while supporting economic growth under a progressive regulatory environment. To commemorate this milestone, The Infocomm Media Development Authority (IMDA) and Personal Data Protection Commission (PDPC) recently announced the launch of Singapore’s first Privacy Enhancing Technologies (PET) Sandbox to further its commitment to supporting businesses who wish to pilot PET projects that alleviate challenges with data sharing.

Unlocking ecosystems through PET

At Aboitiz Group, we see the value in operationalising Data Science and AI (DSAI) to allow businesses to tackle specific industry, environmental, social, and governance challenges. As the Group’s DSAI arm, our goal at Aboitiz Data Innovation (ADI) has always been to offer organisations across industries tried and tested DSAI frameworks and solutions that will benefit both the business and the customers they serve. While we see the opportunities that come with data sharing, we also acknowledge the growing concerns around data privacy.

Also Read: Growth and changing landscape of 5G and data

As part of the 100-year-old company’s transformation journey into becoming the Philippines’ first techglomerate, the Group launched Parlay, our own data exchange platform powered by ADI.

Aligned with PET’s goals, Parlay aims to unlock ecosystems allowing the sharing of data and insights while protecting customers’ interests. While many organisations are aware of the benefits of data sharing, the reality is that some are still apprehensive about adopting the practice due to concerns such as the loss of control of data shared. Parlay addresses these problems by giving users a secure platform to publish and access data.

Ensuring data exchange and data privacy is baked at its core

It’s natural for organisations to have reservations around data exchange, as data privacy and security are top priorities. Operating on the cloud with enterprise-level security measures in place, Parlay bridges that gap by granting users full granular control and transparency of access, enabling the safety and security of all those who choose to be on the platform. Further, standardised legal contracts are attached to the data sets on Parlay to ensure compliance for all users, saving on time and costs.

Building high-value products and DSAI solutions through Parlay

We want to ensure that all key players across industries and sectors have a secure PET platform that enables them to develop and deploy AI solutions for real-world problems. Parlay was developed to create a place for organisations to spark inspiration and visualise new creative ideas through exploring data from other sectors.

When you walk into a museum and sit in front of the Monalisa, when you leave, it is with the inspiration it had given, not the actual painting. This is what we want to seed and proliferate. The ability to be inspired.

By interacting with diverse data sets in a secure virtual workspace, users have the ability to utilise data science tools and endpoints integrated directly into the platform to develop high-value data products and relevant DSAI solutions.

Also Read: The data revolution: Innovation and evolution in APAC’s hospitality industry

Additionally, aggregating and analysing data from other sectors paves the way for organisations to visualise a myriad of possibilities in a way that was never this easy before and explore synergies with sectors you’ve never thought of collaborating with before.

Exploring infinite possibilities with data exchange

We see the possibilities of data exchange across industries such as manufacturing, where external data sources on weather and other factors can allow a full view of supply chain issues to mitigate risks early or even within the energy sector, studying data sets from smart homes to building management to drive operational efficiency and provide customers with advanced services.

These are only a few of the many examples of what cross-industry data exchange can help achieve for businesses and communities.

Data exchange also enables synergies and partnerships among private organisations, the public sector, other key strategic partners, and even consumers, especially in ensuring financial inclusion, environmental sustainability, clean and efficient utilities, and overall better services, among others.

Based on our own experience, we hope that organisations can start using PET such as Parlay to foster cross-industry and sector synergies and facilitate knowledge sharing on innovative solutions in a responsible manner.

Given what we have seen with Aboitiz Group, imagine all the possibilities we can unlock and challenges we can solve together in this digital economy with Data Sharing 2.0.

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Indonesia-based accelerator Upturn has officially debuted its programme in May this year. Claiming positive milestones during its launch, Upturn Co-Founder and Partner Riswanto plans to deepen further his involvement in the startup ecosystem with a new investment vehicle.

In addition to Riswanto, Upturn counted Ayunda Afifah and Bharat Ongso as co-founders. Since April, the organisation has rebranded from its previous identity Tunnelerate, operating under new entity PT Upturn Akselerasi while halting the operations under the Tunnelrate identity. It is also important to note Upturn is operating as an accelerator programme instead of a venture capital (VC) firm.

In this interview with DailySocial, Riswanto reveals more details about the accelerator programme, its hypothesis and investment plan. He also reveals that the organisation is currently looking for a Managing Partner that can represent Upturn in the long run.

Accelerator programme

Instead of focusing on the reason behind the rebrand, Riswanto chose to highlight Upturn’s effort to accelerate the Indonesian startup industry. With its positioning, an accelerator programme is a suitable platform to connect founders to mentors and investors in Upturn’s networks.

As a visualisation, digital economy in Indonesia has reached US$70 billion in 2021 –a number that is also the biggest in Southeast Asia– and is expected to grow further beyond US$146 billion in 2025.

Upturn has launched its Upturn Scale Program Batch I in May 2022. It has selected 14 out of 200 applicants to participate in a 10-week programme with 15 VC being involved in the Demo Day. Through the demo day event, the programme intended to encourage its participants to prepare a pitch deck that will attract investment into its businesses.

The 14 participants are: Jaramba, Flash Campus, Broiler X, Wiseree, Cari Mobil, Bengkel Mania, Bintang Kecil, Goritax, Kibble, Psikologimu, Rakamin Academy, Sgara, Stellar X, and Belajar Lagi.

“We receive support from Sinar Mas Land and other traditional companies looking to do digital transformation. Through this programme, we help startups in doing their problem validation,” he said.

Thesis investment

Upturn sees itself as a sector-agnostic platform, but its co-founders have core expertise in several verticals. These verticals are still considered hot commodity in Indonesia: agriculture, aquaculture, and fintech.

Upturn Partners also have a combined background of having worked in both startups and traditional businesses. This provides an advantage in the matters of business fundamentals and unit economics. “We don’t want to invest because we fear missing out. In fact, many of the participants in Batch are already profitable on their own. For example, Belajar Lagi,” said Riswanto.

Riswanto is previously known as angel investor in agritech startup Eratani. He and Bharat Ongso has years long experience in the IT and fintech sectors. Meanwhile, Afifah has strong experience in people and culture.

“According to our thesis, in times of crisis, people are going back to basics. People need food, infrastructure for logistics, and working capital through fintech platforms. This is why Upturn offers value in product development [based on career experience] and network,” he added.

The firm is certain that there are still many potential founders with businesses that are operating healthily in Indonesia, but they may not have the necessary know-how in VC fundraising. Instead of focusing on trends, Upturn focuses on looking for startups with products that are needed by the customers, building a sustainable business.

“Not every shiny founder [with strong education background from top universities] can create a successful business. On the other hand, there are “non-shiny” founders who can build a successful business.”

Investment vehicle

Riswanto stresses that the organisation wants to play a role in the digital industry through two different platforms. This is why, following its debut, Upturn plans to set up a new entity that serves as its investment vehicle. It will also begin the second batch of its accelerator programme next year.

So far, there has been positive feedbacks for the accelerator programme. “We receive plenty of exposure so there are already offers for collaboration> This is a positive signal as it means there are many more who are vertical-focuses,” said Riswanto.

“We believe that startups that have undergone this programme may look for follow-on funding. In the first batch, we have connected several startups to investors, and some of them have closed a funding,” he said.

In the next months, Upturn will explore a business model that would suit its vision and mission. They are considering investments through partnership model with VCs or digital companies such as Grab Velocity Ventures (Grab) or Sembrani Wira (BRI Ventures).

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The article was written by Corry Anestia in Bahasa Indonesia for DailySocial. English translation and editing by e27.

Image Credit: Upturn

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