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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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.

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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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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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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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An urge to make an impact on the environment and society prompted Andre Stolz and Dr Bert Grobben to quit their well-paid corporate jobs in Singapore. Their quest landed them in the concept of the wastewater management system, and it is already drawing the attention of big organisations.

“We were motivated to start something from the ground up to focus on science-based technologies to help treat highly contaminated waste and efficiently remove organics like oil from water,” said Andre Stolz.

“We took on the challenge, spun out the technology from Nanyang Technological University (NTU), created EcoWorth Tech to provide positive environmental impact through the results generated with large industrial companies,” he added.

Stolz, a German, and Dr Bert Grobben, a Belgian, started EcoWorth Tech in 2017 to create waste-to-worth applications in industrial wastewater treatment and oil & gas decontamination. The Singaporean startup specialises in transforming waste materials into reusable products — providing financial, environmental, and social protection benefits.

“We commercialise an innovative, sustainable technology called Carbon Fibre Aerogel (CFA), developed at NTU to treat wastewater. CFA is a highly absorbent material that is non-toxic, natural, and recyclable. It can absorb various organic materials (like different types of oils, grease, fats, dyes) from wastewater,” shared Stolz, who has 19 years of experience in innovation portfolio management, product supply and engineering.

Also Read: Climate tech is in a chicken-and-egg situation in Southeast Asia

CFA can be made from a variety of cellulose-based materials. Examples include empty pam oil fruit branches, waste paper, and sugarcane wastes.

“Our patented process heats the feedstock to high temperatures in controlled conditions. CFA is then applied by incorporating the material into industrial-grade cartridges, thus producing the oil filter product SUPEROF (superior old filter). CFA can be regenerated, allowing customers to reuse CFA cartridges several times before recycling them,” he elaborated. “Compared to other activated carbon (industry standard) and biochar, the CFA technology is about 100x more efficient in absorbency per weight than activated carbon and almost 6x more efficient for absorbency.”

With these innovative filters, wastewater is purified, which can either be reused or released into the environment safe while sometimes offering opportunities to monetise the materials recuperated, like biofuels.

“We are now developing solutions to efficiently remove oil from maritime applications (like bilgewater treatment, tanker washing water, oil traps and interceptor release) as well as from various spills on land and in lakes and ports,” shared Stolz, who met his business partner Dr Grobben in Singapore. 

Speaking about the economic and environmental benefits, Stolz said the CFA technology reduces treatment costs for potential clients through superior absorption performances compared to their current solutions. In addition, the recuperation of absorbed organics via the regeneration step of CFA can also drive additional revenue/cost savings via resale/reuse of the said organics.
 One of EcoWorth’s clients in the oil refinery industry has seen 40x ROI with EcoWorth Tech’s CFA solution, said.

The cleantech startup’s business model is centred around CFA sales and products that house CFA, such as cartridges or absorbent pillows/booms. Its ultimate goal is to deliver a complete end-to-end water treatment solution. EcoWorth charges clients with the delivery, the sales of CFA consumables, and the ongoing maintenance of the said system.

Tremendous opportunities

According to Stolz, who previous worked at MNCs such as Braun GmbH and P&G, EcoWorth offers significant opportunities to organisations across sectors. Firstly, CFA can cost-efficiently reduce contaminants in wastewater, and organisations can reuse the filtered water to save on their total water bill and environmental footprints. They can alternatively release the water directly to the environment alleviating the need to pay a third party to dispose of it.

Secondly, the expensive chemicals that the CFA has absorbed can be recuperated and therefore could be reused in subsequent manufacturing processes or sold as a secondary product, thus saving or even making the company money.

Thirdly, as CFA is an ultra-efficient absorbent material, as with the oil & gas solution, the footprint of the treatment facility will become very small, saving the company on square footage space.

Finally, since CFA is an environmentally sustainable technology, companies may be able to source government grants to implement EWT’s CFA treatment solution as part of the corporate social responsibility (CSR) programme.

“CFA’s beauty is its ability to be applied to various sectors. While the primary target group is the oil & gas industry for water remediation, the team at EcoWorth Tech is currently working on incorporating CFA into the maritime sector as a solution for oily bilge water and as an oil spill remediation,” he said.

Additionally, the company is in talks to partner with various organisations to formulate CFA into cosmetic products and integrate the CFA system in construction applications.

While the company is tapping into tremendous opportunities, it faces several challenges, including adoption. Stolz said: “Companies tend to stick with what already works or is cheaper even if it isn’t the best choice for the environment. This makes it harder for our products to gain acceptance at our commercial scale-up stage, as initial costs may prevent clients from making the necessary switch on existing products/operations.”

However, educating and articulating the overall benefits and costs of the circular economy model helps address this challenge, he noted. Furthermore, the firm conducts pilots with companies to enable clients to get confidence in the results before switching over. Tightening legislation and a stronger push on resource utilisation will support EcoWorth’s mission to help companies achieve positive results by adopting greener solutions while prioritising protecting the environment.

Talking about the competition, Stolz said there are two groups of competitors — those who focus on water treatment and those who concentrate on spill treatment. Competitors for sorbent applications are companies like North Rock Safety Equipment and 3M.

“In a competitive benchmark, CFA achieved about double the performance at the same price. As for wastewater treatment, often activated carbon is used by system integrators. CFA is about 100x more efficient in absorbency (by weight basis) and 5x faster in contact time vs activated carbon. For oil refinery sour water treatment, several companies provide coalescer filters (in addition to activated carbon filters),” claimed the CEO.

Also Read: ‘Climate tech: SEA needs more time to improve startup quality, attract capital’, says Earth Venture Capital’s Tien Nguyen

Thus far, the company has attracted US$1 million in funding from various angel investors and one investment group. It is on its way to raising another US$400,000 to convert additional clients into paying customers and supply with currently installed capacity. Subsequently, EcoWorth plans to raise US$4 million to go to full-blown sales and self-sufficient growth.

In Stolz’s opinion, climate tech, sometimes known as green tech, has been a buzzphrase among investors over the past decade. Different countries in Southeast Asia have different pressing environmental challenges, and hence there’s a variety of startups that focus on various solutions.

“The climate tech industry has good traction and awareness as EcoWorth has seen a sharp increase in investments into greentech companies. However, because this market is competitive, many smaller startups often lack visibility and face difficulties breaking into new sectors,” he concluded.

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Mental health issues continue to accelerate as the pandemic drags on with a new COVID-19 variant, Deltacron, identified in Brazil. We all need to pay attention to it. 

Researchers at the Institute of Policy Studies found last year that three in ten young Singaporeans worry about losing the purpose of life during COVID-19. As we are preparing for a return to everyday life, we also have to be aware of the many long-lasting effects that are here to stay.

In this context, we broadly see four main trends:

• There’s an apparent increase in work-related stress, which negatively impacts job performance and therefore affects employers as well.
• Isolation and a  lack of socialisation are showing effects on mental wellbeing.
• As a result, there are, unfortunately, signs of a rise in suicidal behaviour.
• All this leads finally to the difficult situation that mental health services are getting overwhelmed with requests.

Nearly 70 per cent of the Safe Space platform users are currently experiencing some form of anxiety. 55 per cent suffer from stress, which has overtaken relationship and domestic issues. Meanwhile, work performance problems jumped nearly 10 per cent and now affect more than half of our customers.

A fledgling industry

This region’s private mental health sector is still very much in its infancy. When we first started with the idea in 2017, no one wanted to talk about mental health. It was taboo that investors told us they were convinced it would never work in Asia.

During the first three years, whilst still holding a full-time job, I had to do various mental health research papers tailored for Asia. It was to convince over 65 potential investors that, with the help of technology, we could solve some of the prevalent pain points Asia is facing, providing faster, more affordable, and discreet access to quality mental healthcare.

We finally found our first investor at the 2019 Galen Growth Summit who believed in our mission and gave us the working capital to create our Minimum Viable Product (MVP).

Also Read: COVID-19 is taking a toll on mental wellness, but this startup wants to provide a Safe Space

Fast forward to 2020, COVID-19 turned into a pandemic, and we saw a decline in mental health on a global scale. This was finally a turning point for us, the moment we could make a difference and prove that there is a huge market for mental health technology.

We increased our users by more than 60 per cent in April 2020 alone, while the number of therapists on the platform tripled. Government bodies have since been very open and cooperative, and there are now many corporations actively looking to support employees in need of help.

Our young people are suffering

Employers are increasingly willing to extend coverage to family members of their staff. The youth have particularly been struggling, showing difficulties to re-adjust to school again.

The youth unemployment rate in Singapore rose as high as 10.6 per cent in 2020, surpassing numbers from previous downturns during the 2009 Global Financial Crisis and the 2003 SARS pandemic. 

Young people are more open to receiving therapy now, and we’re starting to see it being treated similarly to physical health. There will be more offerings that will adapt to the requirements of this group.

We are, for example, exploring how we can provide a “Safe Space” in both the physical and virtual world, such as the metaverse, with a seamless experience across both.  

Urgent need for qualified clinical therapists

Professional counselling can help in these circumstances. Therapists use various modalities and techniques to explore mental health concerns and provide the necessary strategies, skills and mindset change needed to overcome them.

With four years and transparency in our approach, trust was built with our clients. Our proudest moments were not traction but seeing our clients better understand their feelings increased self-awareness and reduced anxiety with enough trust to refer their friends and family to us as well.

The demand for qualified clinical therapists and coaches has already overtaken the supply. Many are already experiencing burnout symptoms, given the immense workload.

Also Read: Leaders, it’s time to talk about mental health

Safe Space is directly involved in training professionals, forming partnerships with tertiary schools to be a practicum site. There are not enough therapists in the region, especially those that can speak local languages and dialects, like Vietnamese, for example. 

The waiting time for appointments in the public healthcare sector is between 24 and 28 days, so more private service providers like Safe Space are needed. We have a great relationship with the therapist community, allowing clients to book their counselling and coaching sessions within 24 hours.

More and more corporates, hospitals, and insurers are entering the space. There are several advantages in favour of online marketplaces, first of all, speed. Clients can book sessions immediately and start their online or in-person therapy within a day or two.

Our large pool of clinical therapists is already serving clients across APAC, ANZ and EMEA and in 15  languages as they understand the cultural nuances.

Personally, the ups and downs have taught me resilience. I knew it was a matter of traction and being at the right place, at the right time.

I’m glad Safe Spacestuck through and survived all the adversities thrown at us. For those looking to start their ventures, begin by writing down the problem and solution you’re looking to tackle.

Determine the action items you need to roll out. Join incubators and accelerators to guide you. Entrepreneurship is a wild but rewarding ride. You can grow more than tenfold in a single year. Don’t forget to enjoy the ride as much as the destination.

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There has never been a better time to be a social seller.

The pandemic-induced shift in consumer buying behaviour has accelerated the growth of social commerce, which accounted for approximately 20 per cent of total online spending in Southeast Asia since the pandemic.

A study iKala conducted last year found that not only did this spending span across all categories (clothes, health, furniture, appliances, groceries) but that the revenue per order rose by 88 per cent. This means consumers weren’t just buying more on social media, and they were also spending more.

To help sellers keep up with this fast-paced growth, we saw the emergence of new solutions that could turn social media into a viable sales channel. But while many of these are opening new avenues for selling, they often miss a crucial piece of the puzzle: customer data platforms (CDPs). 

Data without consolidation affects your bottom line

Having worked with several brands and influencers through the pandemic, I observe that many enabling solutions for social commerce do not focus enough on data consolidation, which is crucial for automated marketing efforts. 

Take, for example, a brand operating e-commerce, social commerce and physical store channels. The brand comes up with audience profiles for each platform (those who added to cart, recently purchased, are loyal, etc.) and then tries to utilise its email, push notifications, and messaging platforms (separate or one-stop) to send out appropriate lifecycle content.

But due to incompatible datasets, this is difficult to do. Still, it also takes much longer because the entire process is semi-automatic at best or manual at worst.

Why does this happen? Imagine a user today going into your app or website but suddenly changing their mind and deciding to go to your physical store or purchase via your chatbot on social media.

Without a CDP cohesively storing and tracking this data, the user may still be getting “hey, you left something on your cart” reminders from the app or website for the next few days. 

Also Read: A look back at 2021: The year after 2020’s e-commerce boom

These inefficiencies result in a lot of money wasted on push messages that could’ve been used instead to recommend complementary products or strengthen the customer relationship through tips and tricks on product usage. Losing these opportunities also comes at a cost. 

What are CDPs, and what are they capable of?

CDPs bridge the data gap by capturing, consolidating, and analysing your data sources to create a comprehensive single customer view. A view that considers all interactions across all platforms, allowing for a consistent customer experience across channels. 

These advantages can be distilled into three main areas: 

• Data collection and unification: A CDP can help you collect and sort data across your business units, platforms and channels. It also helps consolidate in-house and third-party data in a unified platform for effective data alignment and management.
• Single customer view: A CDP can track all customer behaviours and interactions with real-time events and provide a holistic view that helps you visualise customer profiles. This helps you know and understand your customers better without the need for high-level technical skill sets.
• Marketing automation: CDPs offer machine learning-enabled business analytics that can empower your marketing efforts by helping to deliver personalised messages through multi-channel campaigns. Not only are you able to engage with your customers better, but your efforts are more targeted, efficient and automated.  

The insights offered by CDPs offer a variety of use cases and applications. They can complement retail AI applications like planograms, for example.

By marrying insights from customer behaviour analytics and merchandising efforts to key target segments, a CDP can help prioritise planograms that deliver the most impact. 

From an O2O (Online To Offline) perspective, a CDP can also help retail businesses understand where their customers are located.

For example, suppose a brand knows that 80 per cent of its high-value customers do not live in the area. In that case, it can better allocate resources towards planning logistics and improving the digital customer experience. 

The opportunities are virtually endless and, more importantly, constantly evolving. As social commerce continues to take off around the world, having a CDP foundation in place can support your expansion to new platforms and channels, bringing together all your data sources to create actionable insights that can transform your business.

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The co-living concept took off about a decade ago; it started with a shift in short-term stays in people’s homes and experiences with Airbnb to now hassle-free apartment sharing by merging community-living with a space to live, work and play.

For property owners, co-living has huge market potential. In Singapore, within the first half of 2021, the city-state saw nearly US$24 billion worth of real estate sales as home prices spiked by a record 4.1 per cent.

There is currently an untapped demand for units, which creates a huge opportunity for property owners who want to increase their occupancy rates and be part of the co-living wave.

The surging property market also adds to the cost of living in Singapore, reaching a seven-year high where people may decide on communal living favouring the co-living concept instead of single accommodation.

To date, the co-living concept has received a 98 per cent occupancy rate with tenants that play their part in being good stewards of their new home. However, some have reservations about handing over keys to co-living operators.

The biggest myth and fear

Many owners fear and doubt how co-living operators are and feel they are not professional enough to take up properties. The fake listings and horror stories of people renting from their owner and subletting it to vice operations breeds misconceptions.

Property owners believe that co-living operators adopt the same model as real-estate companies. Still, there’s a difference in the way they offer their services and use of technology.

With work and academic goals changing today towards more flexibility and mobility, at least 125 property owners see the value in how a co-living solution company that uses tech-driven expertise is useful as a long term rental solution by providing a range of facilities at an affordable cost.

Co-living operators are going above and beyond to provide convenience and set the foundation for more shared experiences with a single app to manage their tenants. Information is a top priority as, within the app, homeowners can track if their tenants have valid passes, including a rental collection feature.

Also Read: Casa Mia, a Singapore coliving startup’s success story

On service and maintenance, any instances such as rectification of water heater or moving out services are all addressed through the app. This allows co-living operators to increase their service-level agreement toward tenants, upping how properties are managed.

Transparency through data embedded with AI functionalities such as tenants’ stay periods or who may leave will also provide better opportunities to retain tenants in the long run.

With mobile phones becoming all-important devices in everyone’s lives, co-living operators are emphasising the smart use of mobile apps to make the lives of property owners and residents easier. This creates seamless communication between both parties to provide instant assistance whenever required.

Co-living could be the right investment, and here’s why:

• Consider your target tenant profile

Millennials are the biggest audience for co-living spaces. Young, independent, and armed with rising disposable incomes, they are open to sharing apartments and communal spaces with other people. To find a suitable residential space for millennials, all is needed is a location that makes it easy for them to live, work and play.

• Maximise returns with guaranteed rent

Real estate is a tangible, real asset. There is always the potential for future appreciation with real estate but securing it at an attractive price is important so you can make capital gains in the future.

Signing a lease term gives property owners guaranteed rent for the rental period and reduces vacancy risk. Most co-living concepts are fully furnished, and there is often maximum space usage, which translates to higher rental yields.

The key is to find property management companies who have experience with co-living concepts and have a track record of a high occupancy rate to ensure property owners are not losing out on lost rental or empty lease periods.

• Making the most of space

A three-bedroom condominium apartment can now accommodate a suitable living area for a maximum occupancy of six residents by making the most of its available space. For this reason, co-living spaces present an excellent opportunity for property owners to maximise their investment.

•  Amenities for added convenience

Maintenance and costs for cleaning, logistics, and handyman services can all add up. However, today’s co-living concepts are moving on to scale their solutions and focus on providing unique components that will appeal to the convenience of today’s working professionals.

Also Read: Most Singaporeans pay too much for their mortgage. Here’s how innovation can fix that

Without the need to outsource, there’s an option for property owners to save costs and pick property management companies that take care of logistics, cleaning, moving out services and in-house handyman services. This improves the staying experience and helps keep costs low.

• Putting the tech in property management

 The tech-enabled services feature changes the game in property management. There are in-house tenant management apps to communicate and engage with your tenants, making issues easier to raise and communicate easily.

In the past, issues were done through messaging apps, making it hard for both parties to solve maintenance problems. With apps, tenants can raise tickets or maintenance or other issues arise. It allows a dedicated customer service team to respond and address issues promptly.

• Emphasis on community living

The pandemic may have proven disastrous for the industry where tiny bedrooms and all-inclusive apartments with strangers did not bode well with quarantine measures and work-from-home policies. But in reality, the co-living industry has come out stronger than before, offering the most valued item: convenience.

People get to connect with like-minded people and be part of a tribe that can network and collaborate, making co-living a full-proof investment as it catches on due to its attractive pricing and features.

The takeaways

With longer lease tenure, property owners are guaranteed stable income and could potentially see co-living as a sustainable investment. On average, property owners will see a 10 to 15 per cent increase in rental collected for a co-living unit compared to a traditional unit when renting it out to a tenant.

The new wave of co-living and heightened interest in alternative sources of property investments could potentially alter the real estate landscape in Asia.

More millennials, young professionals who have adopted a hybrid work approach, will need a flexible functioning environment to pursue their goals in the most accessible and convenient locations, paving the way for another asset class in the rental sector investment.

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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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