The majority of the world’s population still does not have access to Internet connectivity because existing communication technologies, such as fibre optics and radio frequency, are challenged by the world’s ever-growing demand for better connectivity, according to Rohit Jha, Co-Founder and CEO of Transcelestial Technologies, a last-mile internet connectivity startup.

He also said internet penetration would not be enough to bring everyone online. At the heart of the internet distribution problem is the need to provide affordable, high-speed internet to everyone.

“Even among the ‘connected’, internet speeds can vary between 12Mbps to 238Mbps. The impact on those at the lower end of the spectrum can be felt across their daily digital career, work and personal interactions,” he said in an interview with e27.

“Fibre optics can be highly time-consuming and cost-prohibitive to deploy in most countries. It often faces huge ‘right of way’ challenges in getting access to the ground where it can be deployed. On a per kilometre basis, it can cost between US$10,000 (in rural areas) to US$100,000 (in dense urban areas),” Jha added.

Also Read: Transcelestial raises US$9.6M Series A to ‘deliver a step-change in internet connectivity globally’

Transcelestial can address this problem with its laser communication (lasercomms) technology, he added. The Singaporean startup has developed a network device called Centauri to provide a wireless distribution network between buildings, traditional cell towers, street-level poles and other physical infrastructure. The size of a shoe box, Centauri weighs less than 3kg and can deliver fibre-like speeds to customers.

“Our device provides the same level of high-speed wirelessly, regardless of contextual factors, such as extreme weather or spectrum licensing. The technology involves accurately beaming a laser as thin as a single hair strand into a smartphone-sized window 3km away. The cost of deploying our technology per km is roughly 10x cheaper and takes just days (compared to months) for deployment,” claimed Jha.

“Wireless solutions like Centauri devices provide consistent, high-speed wireless connectivity even in congested environments or under the most demanding weather conditions. They can be deployed quickly with a simple point-to-point connection, which means organisations can now connect the last mile rapidly, flexibly and cost-effectively without any right of way,” shared Jha. “We remove the need to lay expensive fibre to bring internet to mobile towers and buildings in the case of home or office broadband.”

Centauri devices are already installed in over ten markets, including Singapore, the US, Indonesia, India, Australia, New Zealand, Taiwan, the Philippines, Malaysia, and Mongolia.

Its customers are leading telecom companies, internet service providers, ports, universities, sports entertainment organisations, cloud providers, defence, and governments.

Globe Telecom, which has previously tested its technology, has deployed Centauri in the Philippines in areas where it is difficult to install fibre. Hong Kong’s HIT Ports have also deployed this technology between their data centres to power connectivity.

Last week, Transcelestial opened a US$1-million Terabit Factory facility in Singapore. The 2,000-square feet production facility can manufacture up to 2,400 Centauri devices annually. It can create a potential bandwidth of over 10 Tbps, which translates into the capacity to connect tens of millions of users.

Also Read: Transcelestial aims to help telcos roll out 5G rapidly and cost-effectively in SEA

Terabit Factory was set up to meet the rising demand for lasercomms technology across telecom, broadband, education, ports and maritime, government, and defence.

The company is currently in talks with some of the world’s leading telecom and connectivity partners to roll out the technologies produced right in this facility.

Transcelestial has recently expanded into India, a vast market with massive potential. It has an on-ground commercial team and some early national-level partners working on key broadband initiatives in some Southern states in India.

“For instance, we are working with a top-tier enterprise broadband provider with a large presence across India to provide high-speed connectivity to their enterprise customers. In parallel, we are also working with key railway and metro station owners to build robust connectivity infrastructure at and between their stations,” he said.

Founded in December 2016 by Jha and Mohammad Danesh (CTO), Transcelestial is backed by investors, including EDBI, Wavemaker Partners, Airbus Ventures, Cap Vista, SEEDS Capital, Entrepreneur First, Partech Ventures, 500 Startups, AirTree Ventures, Tekton Ventures, SGInnovate, and SparkLabs Global Ventures.

Transcelestial also counts Michael Seibel (CEO of Y-Combinator, Founder of Twitch.tv) and Charles Songhurst (Microsoft’s former Head of Corporate Strategy) among its backers.

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As two of the leading tech giants in Southeast Asia (SEA), Grab and Gojek took radically different approaches to growth. If Grab is known for rapidly launching in new markets in SEA with its platform, Gojek is known for its strong focus in Indonesia before it started entering neighbouring countries.

But if you were a startup founder looking to make it big in the region, which approach should you go for? How do you decide the most suitable one for your company? In a panel discussion on the first day of Echelon 2022 on October 27 at Resorts World Sentosa, four founders and CEOs shared their personal experiences.

According to Ram N Kumar, CEO & Founder of Nirog Street, the first thing to remember is that there is no right or wrong in choosing either approach. Instead, it is all about deciding one’s end goal.

“If you want speed and scale, you need to become Grab. But if you want market leadership, you need to become Gojek,” he stressed.

Jennifer Zhang, Co-Founder and CEO of Wiz Holdings, said that founders should also consider the condition in the market they are operating in: Does it provide sufficient opportunities for growth? Taking the example of Finland and Singapore, she highlighted how international expansion is a sure way to go for companies in these markets.

Also Read: Ex-Gojek VP’s mobile café network Jago nets US$2.2M pre-Series A

But for companies operating in markets with plenty of opportunities for growth, there is also an element of having a first-mover advantage in the Gojek approach.

As a company from Hong Kong, Zeek also saw the need to expand to other markets early on, but they made a careful decision on the kind of services they introduced in a new market. Starting out as a last-mile delivery service platform, CEO & Co-Founder Vincent Fan explained how they eventually saw this new opportunity in the market they operated in.

“We realised that last-mile fulfilment is not the only challenge our merchant is facing,” he said. “That was when we came up with a lot of our solutions. With our delivery services, we need to learn about local nuances, labour laws, competitors, delivery fees, and so forth. So our solutions business is easier to replicate across markets.”

“At this point in time, we’re at a junction of focusing deeply on those markets that were already in with our delivery businesses. On the other hand, for our solutions business, [we are working on] which other markets that are quick to go into,” Fan continued. “For example, in Singapore, we have all the major instant on-demand delivery partners across the country. Are there partners that are capable of supporting us in other markets that we might want to explore? I think that’s the direction we are moving towards at this point.”

The matters of talents

Panel moderator Klaus Wehage, Co-Founder & CEO at 10x Innovation Lab, pointed out the importance of talents in a company’s international expansion move and the different types of talents that a company need for this process.

Also Read: This app from gojek’s ex-CMO notifies you about the quality of air in your location every 20 minutes

For the panellists, there are different criteria that they are looking at. Companies in the early stage tend to prefer having a smaller representative, but for the later stages, having a larger team that is able to make decision of its own can be advantageous.

Apart from talents, companies with a strong local presence can tap into their clients’ international network to help them get started in new markets -something Zeek has already been doing.

“[In] finding the right people with the right culture, we have [experienced] a lot of trial and error. A lot of failures, to be very honest. But I think we learn along the way. That’s where we find people you can work well alongside one another with a common goal of what you want to achieve,” said Fan.

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SEA’s startup funding hits seven-quarter low in Q3 at US$3.7B
Startups in the region secured US$3.72B in VC funding in Q3, down 22% from the previous quarter and 36.4% year on year; On the other hand, the deal volume increased 11% Q-o-Q to 277 during the period.

Alta (Fundnel) acquires Hg Exchange
The acquisition will enable Alta to support the tokenisation and digital custody of alternative assets, creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities.

Exit route getting tougher for VCs in SEA as recession looms
According to Altara Ventures’s Gavin Teo, would-be buyers are focused on their own businesses and facing higher costs of capital, meaning less valuable shares and higher borrowing costs to finance acquisitions.

Ascend Vietnam closes debut early-stage fund at US$64M
In June, Ascend announced that it had exceeded the US$50M target for the fund, which will see seeding up to US$2M into 25 startups and following up with cheques of up to US$5M.

Amazon Vietnam says growth is defying global slowdown
Gijae Seong, head of Amazon Global Selling in Vietnam, said the local division has grown more strongly this year than in 2021, even as the company last week reported a US$2.5B Q3 operating loss for its international segment.

Bukalapak posts 86% YoY revenue growth in Q3 2022
It recorded US$57.6M in the quarter; This comes on the back of a strong performance from Mitra Bukalapak, an O2O solution that helps small retailers in the country procure physical goods to sell.

Wavemaker’s Paul Santos sees a crisis as a flight to quality
“If in a crisis your customers find less value in your product, then you have to ask yourself why. But if your customers continue to find value in your offering, then that’s interesting,” says Wavemaker’s managing partners.

Grab, StraitsX to test ‘purpose-bound money’ at SG fintech festival
The pilot will involve 5,000 trial participants that will use the vouchers through their preferred blockchain e-wallet app; Purpose-bound money enables senders to dictate conditions for the use of their digital SGD.

Indonesia’s IDX signs MoU with SG-based green fintech firm MVGX
IDX is preparing a trading system for a carbon exchange in Indonesia; MVGX will provide IDX with opportunities to explore its industry-grade software to establish IDX’s carbon exchange capabilities.

Hodlnaut founders hid financial documents, says court report
They withheld financial documents from Holdnaut’s Interim Judicial Managers (IJMs) at EY Corporate Advisors; This comes just a week after the IJMs and Hodlnaut co-founder Simon Lee filed affidavits against each other over allegations of dishonesty.

SCB 10X invests US$10M in SG crypto custodian RakkaR Digital
The startup provides institutions on the digital asset custody platform Fireblocks with a place to store and manage their Web3 assets; The firm’s institutional customers include ANZ, BNP Paribas, BlockFi, and Nexo.

‘Post-COVID-19, demand for home services have smoothened from weekend spikes to weekdays’
Rupam Biswas of Sendhelper said when there is no fear around COVID-19, more orders come in because people spend more time at home and are comfortable with home services.

Fundraising in time of crisis: Why SEA founders can remain hopeful
In the startup ecosystem, raising VC funding is often viewed as an important milestone that a startup must go through; however, it is important to acknowledge that not all companies will raise external funding.

5 smart ways to decarbonise supply chains and logistics with AI
Green logistics facilitates sustainable logistics operations by reducing energy consumption or using alternative energy sources for logistics processes across various logistics legs.

5 customer experience trends to consider in 2022
More businesses will leverage communications technologies enhanced by AI that help customer support teams do more with less; Businesses that are proactive instead of reactive to the needs and expectations of their customers will win customer loyalty.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Born in the digital age, the Gen Z generation has never existed in a world without the Internet and social media. 

With new technologies, insights from historical events, connecting with people from various cultures, and knowledge of the current political climate – Gen Z is turning out to be the most diverse and educated group of individuals who have witnessed some of the most turbulent periods in recent history such as the Great Recession in 2008 and most recently, the COVID-19 pandemic.

These world events shaped Gen Z’s world views and perspectives, giving them a strong sense of being global citizens and prioritising different values.

Also read: SEA’s mobile-first population are spending all their time on mobile phones: Are you?

These views and perspectives directly influence their consumption behaviour. And as Gen Zs enter the prime time in their career, their purchasing power will increase substantially and their consumption behaviours will have a significant influence on the market.

By 2025, Gen Z will make up about 27 per cent of the global workforce, and would significantly if not completely change global consumption trends.

Individual expression and an ethical moral code as foundation

Gen Zs highly value their own unique personal identity and individual expression, while constantly searching for the truth, finding ways to solve conflicts through dialogues and diplomacy, and emphasising ethical behaviours. The COVID-19 pandemic also helped redefine Gen Zs’ future aspirations and values, highlighting the importance of digital adoption, personal connections, and sustainability.

As working individuals, Gen Zs place more importance on benefits such as work-life balance, mental health care, remote/hybrid work establishments, and meaningful work assignments in comparison to the previous generations. However, despite a growing emphasis on things like mobility, pursuing one’s dream job, as well as personal growth — competitive salary and compensation remain important factors to retain the Gen Z in the workplace.

Also read: The Big Leap: Bringing retention best practices across SEA

As consumers, Gen Zs put a premium on lifestyle and individual expression — to be themselves, rather than make purchases designed simply for physical needs. Consequently, their purchasing decision is more likely to reflect their values, not brand loyalty. Brands will therefore find it much harder to retain Gen Zs loyalty.

They are also conscious of the impact of their consumption and demand that marketers stick to their promises and uphold ethical practices.

Gen Zs utilise different channels to gain information and learn about new products. They are likelier to engage with brands endorsed by influencers. They discover and connect with their favourite brands and products via social media platforms. And they make purchases with their mobile apps or e-commerce platforms.

For Gen Z personalised recommendations from trusted individuals and entities are more likely to influence their purchase behaviour.

Discover more about the Gen Z and other new and unexpected markets with CleverTap’s The Big Leap Roadshow in Indonesia

As countries emerge out of the COVID-19 pandemic and settle into the new normal, it is time we change, learn, unlearn and relearn the market’s growth story: tapping into the vast potential of the vibrant Gen Z market and winning the new generation of customers’ trust and satisfaction.

The Big Leap Roadshow’s special panel discussion aptly titled, Retention Playbook: Gen Z and unexpected segments in the new normal, is a collaborative event between e27 and CleverTap happening at The Big Leap Roadshow in Indonesia. The programme will bring together experts in the market who have managed to leverage crises to achieve new heights and get ready for the next level of growth in 2023. 

Through the event, the participants will have access to over 12 on-ground sessions with industry experts and brand custodians deep diving into customer journeys and how brands can create customised solutions to retain them. Leaders in the industry will discuss strategies to scale businesses by increasing the revisits and repurchases from returning customers. Marketers will also learn about what tools and technology can help them create solutions that will attract customers and keep them coming back, cultivating a culture of brand loyalty.

Also read: How this cutting-edge technology helps fortify your crypto security

A significant portion of the panel discussion will be dedicated to uncovering the characteristics of Gen Zs and other unconventional segments as focal customers and learning how to convert them into frequent and loyal customers. The sharing can inspire participating business leaders, entrepreneurs, and investors to think outside the box and learn from the best practices in their corresponding sectors, generating new product and service ideas to serve Gen Z customers.

Marc-Antoine Hager, CleverTap’s Regional Vice President for Sales in Southeast Asia, is one of the panellists and  will share the company’s mission and its successful journey  even during the most challenging global economic situation. 

The Big Leap Roadshow in Indonesia will provide business leaders and entrepreneurs from one of Southeast Asia’s largest economies with valuable opportunities to network with over 100 like-minded entrepreneurs, key thought leaders, and investors. 

Participants will learn first-hand about success stories in customer retention and how to craft innovative customer experiences. Want to find out about new trends in the industry to learn how to align your strategies with customer preferences and adapt to the changing market context? Join us at the the Big Leap happening on November 10th, 2022 in Jakarta.

To sign up for the event, click here.

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Photo by cottonbro from Pexels

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

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Singapore-based Fundnel, a leading digital marketplace for alternative investments, has acquired the blockchain-powered private digital securities exchange Hg Exchange (HGX).

The transaction details remain undisclosed.

Fundnel has also announced its rebranding into Alta.

According to a press release, the acquisition will enable Alta to support the tokenisation and digital custody of alternative assets. This will create an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate and luxury assets.

The deal will see HGX become a wholly-owned subsidiary of Alta. Alta will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders.

Following the acquisition, Hg Exchange will be renamed Alta Exchange. It will continue to be led by CEO Willie Chang and the existing Hg Exchange team, which will merge and augment Alta’s team.

Also Read: Fundnel, BRI Ventures to launch new US$50M+ fund for Indonesia’s growth-stage startups

The deal will enhance Alta’s service offering by bringing three core parts of its business under one roof — private market investment, trading of tokenised asset-backed securities, and direct access to funds managed by Alta.

Kelvin Lee, CEO and Co-Founder of Alta, said: “The Hg Exchange acquisition marks a new chapter in our journey to revolutionise private markets with a blockchain-powered digital exchange, bringing enhanced access and liquidity to alternative investments for all investors.”

“Our goal is to connect promising new opportunities with capital. Today, by standardising processes around our tokenised listings, we make investing in alternative cost-effective and transparent for investors,” he added.

Started in 2016, Alta gives investors direct access to invest and trade in a wide range of curated alternative assets, from direct investment into early to late-stage private companies, PE/VC funds, asset-backed securities of luxury assets, and real estate.

To date, Alta claims to have facilitated more than 600 transactions for opportunities like SpaceX, Grab, Gojek, rare whiskeys, and other alternative assets. It has generated over US$600 million in transactions and allowed access to over US$22 billion worth of mandated deals for its global investor community.

In 2021, blockchain and cryptocurrency giant Binance acquired an 18 per cent stake in Hg Exchange.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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I joined Accredify in 2020 as the founding member of the Marketing and Communications departments.

Apart from the daunting task of building the firm’s marketing and communications department with limited resources and budget, as well as performing both strategic and executive duties to get the department running, there was another huge challenge that stood in my way: consumers at that time were distrustful of the blockchain.

As Forbes remarked in 2018, the complexity behind blockchain technology “meant end users found it hard to appreciate its benefits”. At a time when deeptech such as the blockchain, was met with limited understanding, I had to educate and connect with potential clients on how our solution worked in a simplified manner.

So, the big question mark was how do I build trust in the company during a time when the public’s understanding of the benefits of deeptech was relatively unknown?

In addition, Accredify is a SaaS solution, a service with a level of intangibility. How can I ensure that clients will want to invest their time and money into a service that they cannot see beyond a sales demo?

Today, Accredify’s brand has become prominent in the market of decentralised verification and identity tools: researchers from around the world have featured us in peer-reviewed research papers and white papers.

We have secured over 100 organic media features within twenty months in the likes of Forbes, CNBC, and The Business Times.

In 2022 alone, our spokespersons have been invited as guest speakers at more than 30 regional events and roundtables with government ministers to discuss the digital transformation of the public sector.

In this article, I will pen down my marketing journey, detailing how I developed a strategy to position Accredify as a thought leader and trusted brand in the decentralised verification solutions space, as well as share some personal lessons I have learned along the way.

Create a master goal

The first and most crucial step: identify a vision for your department.

What should your department be achieving? The purpose I identified for Accredify’s marketing and communications department was to build trust.

Also Read: Echelon 2022: A peek at the future of marketing measurement

Understanding that our main challenge was trying to connect with clients who did not have a deep understanding of our tech stack, I realised the fastest way to win the hearts and minds of our potential clients was to convince potential clients that Accredify can deliver on our promises and solve their needs, and the fastest way to do that was through establishing brand trust.

After identifying your master goal, create a list of your department’s responsibilities, and break them down into initiatives that will help you achieve your master goal whilst remaining within budget.

For example, Corporate Communications’ priorities will oversee pitching press releases, obtaining media coverage, and arranging speaker opportunities for company spokespersons to build credibility in our management. The Marketing department must build social media presence by using it as a free and powerful communication tool to reach your target audience.

Often, decisions will have to be made quickly, and you won’t have the privilege of time to weigh your options thoroughly. Your vision will act as your north star and will help guide your decision-making between multiple options or dilemmas to ensure that the initiative you have selected will bring you closer to the master goal.

Public relations is a CMO’s most valuable tool

Public relations is the fastest way to raise brand awareness and educate potential clients on your product.

However, it’s imperative to note that PR is not just blasting new products and achievements left-right and centre – it’s a strategic tool to build trust-based relationships with your clients.

With every initiative or new product feature your company develops, don’t shout out about how the product works. Instead, tell a story about how your product solves problems and, most importantly, helps people.

Establishing your spokespersons as experts and thought leaders is a crucial goal for PR as well. As Edelman’s 2020 Trust Barometer Special Report indicated, 63 per cent of respondents were more inclined to trust a brand if it was seen as a protector or innovator. The same report revealed that people also preferred to hear directly from experts in a certain field.

As such, establishing your company as an innovator and your spokespersons as thought leaders is imperative in the early stages of your company to set up your brand.

For instance, during the COVID-19 pandemic, Accredify created a first-of-its-kind product called Accredify START to help HR staff ensure that their workplace is safe by providing their employees with a Digital Health Passport to contain their verifiable COVID-19 test results. This reduced manual data entry of an employee’s COVID-19 status reassured the workforce that their office was safe for re-entry.

I pitched this story to revolve around one of the top-of-mind feelings that the public was experiencing at that time – safety. Through our earned media and spokesperson interviews from this product press release, we obtained incredible leads from companies we had no initial relationship with, such as KPMG, Blackrock, and DHL.

Zig Ziglar once said, “People buy on emotion and justify with logic.” Create a bond with your clients, and they’ll start to trust you – the first step in the sales process.

That’s why it is just as important to add a personal touch to your communications. Adding a face behind the brand humanises your business and makes your company more approachable. Along with establishing your spokespersons as thought leaders, it makes people feel like they are in capable hands.

Also Read: Keep your customers around with stellar retention strategies

Aside from traditional PR channels such as news websites or hardcopy newspapers, don’t forget to utilise other modern communication channels your company owns to connect with potential clients.

That’s why I introduced social media content verticals that introduced the faces of our employees and their responsibilities in creating the product and consistently shared announcements of speaker panels and behind-the-scenes shots of interviews with our founders. The result was a 120x increase in social media followers in eight months.

Trash the jargon

Remember that even if you’re working for a tech company, it doesn’t mean you have to add technical terms in every message to prove that you know what you’re talking about.

In fact, I’m a firm believer in the buyer collective, where everyone can be an advocate for your business, from an end-user, and project manager, to a C-suite. So, keep your message simple and easy to understand by everyone. Be aware of the words you use to erase the possibility of confusion or doubt for individuals.

For example, in the beginning, when I knew that the blockchain and its abilities were not well-known, it was an active decision to refrain from mentioning the word ‘blockchain’ on our website or other communications – even in sales pitches to prevent technical confusion.

However, since the beginning of 2022, there has been a wave of Web3 coverage, boosting awareness and education of deeptech amongst the general public. We then knew that this was the right time to start marketing the blockchain aspect of our business more, which led us to include more mentions of our Web3 stack in communications.

Remember that this communications strategy has to be applied to all brand touchpoints, from the website to social media, onboarding emails, speaker presentations, press releases, and offline collaterals like sales brochures and banners.

Trust your intuition and do anything

A phrase that I love and stick by is from the book Selling the Invisible by Harry Beckwith. He advised a consultant who was contemplating between different marketing projects. He printed a badge with two words: Do Anything.

Never forget about the butterfly effect: small efforts will accumulate and have distant, huge effects on your brand and product. That’s why you should not turn down any speaker invitations your spokespersons are invited to.

Also Read: Web3 marketing: Building a cult-like community

We started with university sharings, and now our spokespersons have been guest speakers or contributors for reports from the European Chamber of Commerce and some of the largest tech events in Singapore and Asia.

Turn these panels into content pieces and repurpose them as opinion articles to be pitched to the media. Publish any media coverage you’ve obtained on your website to assist with SEO. Shout out about notable partners and clients and push for joint press releases with key partners and clients and pitch them to the media.

Do anything which you think will contribute to your master goal, but never at the expense of your brand’s reputation. Marketing is both an art and a science, a role that comprises intuition, creativity, and analytics. Examine your data and continue reiterating your initiatives to create the best tactics for your business.

Final thoughts

Remember that clients don’t remember what your product’s functions are, but rather, what problems it solves for them and how your product makes them feel.

Brand trust is the ultimate currency. Understand your goal, strategise, and execute your initiatives, but most important of all, remain personal in your communications.

Don’t be afraid to try and fail – it’s important to be an adventurer and risk-taker in the early stages of your company’s journey.

That’s the beauty of marketing – you will always learn something new each day, so take that opportunity to build your brand into an ownable asset for your company.

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Join us at the Jakarta stop of the Big Leap roadshow

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Entrepreneur First (EF), an investor supporting individuals building technology companies, announced today that it will discontinue its Singapore programme after the graduation of its ongoing twelfth cohort in 2023.

This is part of its plans to focus its future growth in Europe, North America and India.

“Entrepreneur First’s expansion to Singapore was a crucial milestone in our history; our first site outside London. The EF Singapore team has worked tirelessly to find and serve the entrepreneurs in our community. We’ll be seeing the legacy of their work for years to come with the growth of the EF Singapore portfolio,” said Co-Founder and CEO Matt Clifford.

Per a statement, Entrepreneur First will also cease to run new programmes in Toronto and will instead roll its activity in Canada into a broader North American strategy.

Also Read: ‘Don’t chase titles; chase curiosity and let it lead you’: Bernadette Cho of Entrepreneur First

This is the result of a strategic shift in its growth strategy. Entrepreneur First will now focus on a smaller number of hubs where the size of the local talent pool positions them to scale to running multiple vertical programmes concurrently.

This strategy is now rolling out first in London, where it has expanded beyond the core programme and added web3 and climate change cohorts.

Founded in 2011 by Matt Clifford and Alice Bentinck in London, EF operates as an early-stage investor, helping talented people find co-founders to partner with before launching startups.

Its Singapore portfolio companies include Transcelestial, Seppure, Allozymes, SunGreen H2, and Green Li-ion.

Entrepreneur First will continue to support its Singapore portfolio through its global team and funding network.

In June this year, Entrepreneur First secured a US$158 million Series C funding round from a group of veteran technology founders. The investors include John and Patrick Collison (Co-Founders of Stripe), Taavet Hinrikus (Co-Founder of Wise), Reid Hoffman (Co-Founder of LinkedIn), Matt Mullenweg (Co-Founder of WordPress), Tom Blomfield (Co-Founder of Monzo and GoCardless), Nat Friedman (former CEO of Github), Sara Clemens (former COO of Twitch and Pandora), Matt Robinson (Co-Founder of Nested and GoCardless), Patrick O’Shaughnessy (Positive Sum), Demis Hassabis and Mustafa Suleyman (Co-Founders of Deepmind), Sten Tamkivi, Elad Gil, and Lachy Groom.

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Electric vehicles (EV) are more than just trendier and sleeker cars. It constitutes a new era of sustainability in mobility and transportation. The transportation sector generates the largest share of greenhouse gas emissions, being 27 per cent in 2020 alone. With sustainable practises being the focus of the new age of living, the future of the mobility industry is 100 per cent electric. 

Imagine a future where everything becomes powered by electricity, and from cars to planes, your way of living is rebuilt on a cleaner, safer, and more productive structure. Modes of transportation are smarter, allowing you to work faster and easier.

With an electric vehicle, apart from being environmentally friendlier and having better performance, you are more in control despite the rising gas prices. With electric planes, global travel is more efficient with its otherwise inevitable carbon footprint. While still at the nascent stages of its predicted impact, it’s a big step towards lessening carbon emissions while serving your transportation needs regularly.

Also Read: How electric mobility startups are tackling climate change in Asia

The ecosystem is at the cusp of a revolution in this future technology, and both public and private organisations are taking notice of the opportunities in this landscape.

MIH initiatives to outreach startups in the space

As the leading and largest electronics company in the world, Foxconn is known as the powerhouse that assembles and builds the device we cannot live without- the iPhone. With vehicles the foremost technology consumers need to move from point A to point B, Foxconn is in the best position to enable the future of mobility with EVs.

MIH Consortium, initiated by Foxconn, is one of the leading pioneers in developing relationships with startups and tech innovators. The team at MIH is creating an open electric vehicle (EV) ecosystem that promotes collaboration in the mobility industry. Its mission is to realise key technologies and develop reference designs and standards while bridging the gap for alliance members resulting in a lower barrier to entry, accelerated innovation, and shorter development cycles. 

This marks the start of MIH’s initiative to create synergies with startups in the EV space in Southeast Asia. Recently, MIH launched MIH for startups, a programme for startups working on EV-related areas – Electric Powertrain Systems, Battery and Energy Management, Light-weighting Technologies, Automotive Semiconductor, Automotive System Software, and Digital Twin Autonomous Driving and SmartCockpit. The programme allows startups across the globe access to mentorship, pilot, funding, and co-branding opportunities together with Foxconn.

Techstars’ mandate of public-private collaboration to spearhead the expansion of EV

To further enable this transition, MIH is excited to be working with Techstars, the worldwide network that helps entrepreneurs succeed, to drive innovation with EV-related startups worldwide. 

“This is just the beginning of a very exciting and impactful partnership between Techstars and MIH. Today we are driving deep engagement with startups in the EV ecosystem through the MIH x Techstars Startup Catalyst programme. Tomorrow, my personal hope is to launch Accelerator programmes together in multiple markets to accelerate EV adoption and invest in the next big technologies across electrification,” mentions Tricia Martínez, Managing Director of Techstars Industries of the Future Accelerator

Techstars’ mission is to enable everyone on the planet to contribute to and benefit from entrepreneurs’ success. In addition to operating accelerators and venture funds, Techstars connects startups, investors, corporations, and cities to help build thriving startup communities. This means bringing together key ecosystem players to drive more innovation, create impact, and support incredible startups. And within the EV ecosystem, all hands on deck are required to move the needle forward.

Tricia adds, “Both private and public sectors are pushing to reach carbon emission targets over the next few years, and we view electrification as one part of the equation in making that happen. Investors are taking note and pouring billions of dollars into emerging and promising technologies.”

Also Read: Techstars, Crestone VC join Filipino HR-tech startup Betterteem’s financing round

“It’s time for startups, private industry, and government entities to work together more strategically to eliminate roadblocks and usher in an EV future. Techstars is the glue that can bring these assets together, build thriving ecosystems, and scale market disruption.”

To solidify this partnership, Tricia is joining as an Advisor to the Board at MIH. Tricia asserts her excitement over this collaboration “because building a coalition and mobilising is the only way we can create a thriving ecosystem. This is just the beginning of the EV ecosystem. There is a lot to build, people to mobilise, behaviours to change, and no one person or group can do it alone.” Techstars will again stay at the forefront of engaging different stakeholders that drive the global adoption of new technologies.

Conclusion

Electrification is the future of the transportation industry. It’s no longer a dream or a faraway possibility. 

Tricia iterates that “We must come together as an ecosystem quickly to make it a reality. We’re running out of time to make a lasting difference in the environment around us – the urgency is real, and we must come together to act.”

Join us at MIH Demo Day on November 8, 2022 in Taipei to see what is to come in the EV startup world with Techstars + MIH. Visit the MIH website for more info. 

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With the increasingly unpredictable state of climate change and the vast impact it has on the material conditions of many people, there seems to be very little attention being placed on it within the startup ecosystem. In Southeast Asia, startups that operate within this vertical are relatively few and far between.

While there are lots of great initiatives being spearheaded by various institutions, especially in terms of funding being funnelled towards climate tech, more can still be done to educate entrepreneurs and investors on the opportunities in the sector.

Also read: How startups should approach ESG opportunities

Echelon 2022: a panel discussion on opportunities for climate tech

In order to shed light on the important topic of climate and the role startups play in helping usher green recovery, particularly in Southeast Asia, Echelon Asia Summit 2022 will feature a panel discussion on the matter to be moderated by Robyn Tan of KrASIA. Entitled “The state of climate tech in 2022: How can we create new urgency for a green recovery?” the programme will also feature a diverse panel of industry insiders that include Grace Sai of Unravel Carbon, Steve Melhuish of Wavemaker Impact, James Chan of Ion Mobility, and Angela Noronha of Second Muse.

Also read: The evolving role of digital infrastructure

The event aims to flesh out and provide answers for the following key points:

• What are the biggest opportunities in the sector now and where are the investments going to?
• Is the government the primary backer/supporter? Are corporates stepping up to the plate?
• What are the future trends on the investment fund? Will there be more climate tech dedicated funds?
• What will be the exit landscape for climate tech companies?
• What are the key challenges climate tech companies face?
• Is there currently enough deal flow for climate tech

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Echelon Asia Summit 2022 (October 27-28) returns after a three-year hiatus. It aims to gather the most influential decision-makers and industry leaders from the Southeast Asia tech and startup ecosystem.

Register for Echelon Asia Summit 2022 now!

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Global supply chains are in desperate need of building agile and resilient operations. A series of disruptions during the last two years reveals many shortcomings of complicated and archaic systems. However, erratic weather patterns and rising mercury levels bring our attention to a critical issue.

Climate crisis and the need for green logistics

Climate impact has put many countries at risk, especially Southeast Asia, with most of its area lying in coastal regions and lowlands. The Philippines and Indonesia are especially vulnerable to tropical storms and rising sea levels.

As per Statista, the APAC region produced 17.74 billion metric tons of CO₂ in 2021, more than the combined emissions of all regions. But there’s more to it than just ecological risk. Southeast Asia’s historical lag in climate action and policy-making could shrink its economy by 11 per cent by the end of the century.

Transportation accounts for 24 per cent of global CO₂ emissions, and 30 per cent comes from trucks carrying freight. Much needs to be done by each Southeast Asian country to offset climate change and take collective steps toward a more sustainable supply chain.

While there is consensus to make supply chains more green, as 78.7 per cent of Southeast Asian countries believe this can help reduce carbon emissions, the proactive action has not quite materialised.

Walking the talk: Enabling green logistics through digitisation

Green logistics facilitates sustainable logistics operations by reducing energy consumption or using alternative energy sources for logistics processes across various logistics legs. For instance, using an electric fleet for deliveries could significantly curb carbon footprint.

Also Read: Wavemaker Impact, Bill Gates’s VC arm, Temasek launch startup to decarbonise rice cultivation in Asia

Order consolidation is another way to reduce emissions by bundling multiple orders from the same customer into one carton so they can be delivered on a single trip. This also lowers the consumption of cardboard, bubble wrap, foam peanuts, air pillows, and other packaging materials.

So what else can logistics-powered businesses do to execute green deliveries?

Well, embedding climate-conscious practices while building digital tools can reduce environmental impact and raise business efficiency.

Here’s how smart logistics management platforms can help:

Optimising routes to curb carbon footprint

A smart logistics management platform digitises product journeys, allowing businesses to gauge areas where logistical inefficiencies can be tamed. Digital documentation eliminates paper trails. AI and ML-powered route planning and optimisation engines chalk the most efficient travel route across multiple touchpoints throughout logistics operations.

Efficient routes result in lesser time spent on the road. This is critical to curbing the last mile inefficiencies, a pain point of 61 per cent of transportation and logistics organisations globally. Dynamic route optimisers help eliminate empty miles, reduce the distance travelled by five per cent, prevent vehicle idling, and lower trip volumes by six per cent.

By extending predictive visibility in terms of ETAs, real-time tracking of delivery progress, and flexible deliveries that allow customers to reschedule the delivery to their preferred time slots, logistics stakeholders will maximise the success rate of the first attempt delivery and reduce multiple attempts, trip volumes and CO2 emissions.

Intelligent logistics solutions also allow delivery managers to configure and prioritise eco-friendly modes of transportation for short-distance deliveries. Leveraging this pre-fed logic, the system auto-allocates bicycles, EVs, or autonomous vehicles to execute deliveries within a small radius.

Enhancing address quality to reduce returns

Poor quality addresses or drivers’ inability to navigate to the customer location on time is a big concern for businesses. This is because it leads to greater fuel consumption and CO2 emissions. Moreover, 51 per cent of shoppers go for returns if their order doesn’t arrive on time, which puts all the logistical efforts to waste.

Also Read: As the demand for energy soars, climate tech is here to save the day

Geocoding helps convert poor-quality addresses into exact coordinates. This shows up as a clear polyline on the driver’s mobile app leading them to the exact customer location.

Improving capacity utilisation

Another method to enhance delivery performance is automating capacity planning. AI-powered logistics management tools leverage intelligent algorithms that seamlessly club consignment and vehicle data.

They can optimise a vehicle’s capacity by considering parameters such as delivery location, weight, volume, time SLAs, storage type, etc., which helps improve fleet capacity without hampering mileage or vehicle life as it runs on optimum load. It thereby increases vehicle capacity utilisation by 31 per cent.

Clubbing orders to reduce trip volumes

AI-driven logistics management platforms improve delivery productivity by enabling multi-stop pickups and deliveries for drivers on a single trip. En route order clubbing smartly combines pickups and drops to reduce trip frequencies and improve driver productivity by 14 per cent.

Drive sustainable cross-border logistics

Smart logistics management platforms help cross-border logistics stakeholders gain visibility of a shipment’s carbon emissions even before it commences its shipping journey by gaining critical knowledge of tank-to-wheel and well-to-wheel CO2 emissions. Intuitive sustainability dashboards help logistics stakeholders monitor emissions across a shipment’s lifecycle and unearth areas that need immediate attention.

Such platforms empower businesses to reduce miles travelled, shrink returns, eliminate empty miles and vehicle idling, and enable greater rider productivity. By using technology-powered logistics strategies, businesses can reduce shipment returns by 18 per cent.

Three factors will drive businesses in SEA to channel greater focus on sustainability, global and UN regulations around emissions, cost optimisation, and a push from customers.

By embracing smart technologies, businesses can also play a vital role in making a positive long-term ecological impact. Simultaneously, it also ensures customer expectations are met and business costs are lower while saving the planet, one delivery at a time.

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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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