As someone who has built a business with big influence on my own cultural roots as an Australian-born Chinese entrepreneur, I can tell you firsthand that embracing heritage is one of the most effective ways to set your company apart from the competition.

You might be thinking, “What does culture have to do with business?” or “I don’t want to alienate potential customers by focusing too much on my background.” But I’m here to tell you that these concerns are misguided. In fact, I believe that cultural differentiation is one of the keys to long-term success in the business world.

Define your culture from day one

So, why is culture so important? For one thing, it’s what makes your company unique. No matter what industry you’re in, there are likely to be dozens (if not hundreds) of other businesses that are offering similar products or services. But by infusing your company with the values and traditions of your cultural heritage, you create a brand identity that is truly one-of-a-kind.

Momoguro, an upcoming Web3 project by 9x Emmy-winner Baobab Studios, was founded by Maureen Fan, Nico Casavecchia and Martín Allais, coming from Asian, Argentinian and Venezuelan backgrounds, respectively.

And they have used their diverse cultural roots to create designs that are truly unique in their captivating blend of colors, flavors and dialects. Their work often incorporates traditional patterns and designs from their home countries, but they also use modern technology and cutting-edge design techniques to create work that is ahead of the curve.

The team has brought onboard an experienced group of Web3 and game developers, including game designers who have worked on some of the biggest titles in the industry, such as Marvel, Disney, and Pokémon.

Also Read: The role of niche communities in driving startup success

This diverse and talented group brings a range of experiences and perspectives that are being leveraged to create an innovative and exciting digital collectible storytelling RPG. With a team that brings together expertise from different industries and games, Momoguro is setting itself up for success, creating a culture that is driven by excellence, innovation, and sustainability.

Achieve competitive differentiation

If you’re a restaurant owner, there are likely dozens of other restaurants in your city that serve the same type of cuisine as you do. So how do you stand out from the crowd?

By emphasising the unique flavors and cooking techniques that are specific to your culture. This not only sets you apart from your competitors but it also creates a sense of authenticity and depth that customers will be drawn to.

START Inc. was founded by native-Japanese, Philippines-based entrepreneur KOUSEI. He’s used his knowledge of these cultures and languages to create a platform that is accessible to a wider range of people.

By offering multilingual support and creating a user experience that is tailored to the needs of non-native English speakers, START Inc has been able to reach a market that is often overlooked by other NFT platforms.

And it’s not just me saying this: START Inc. has already gained over 20,000 loyal followers in the NFT space across the Chinese, Japanese and Filipino community.

The project has already partnered with several high-profile artists and has recently launched their 2nd collection, CryptoNinja World, which sold out in less than 6 hours. The founding team has leveraged their diverse cultural roots to create a platform that is truly inclusive, and that has the potential to carve out a defensible piece of the wider ecosystem.

Align your values internally and externally

But cultural differentiation isn’t just about marketing. It’s also about creating a company culture that reflects your values and beliefs. As a leader, you have the opportunity to shape the way that your employees work together and interact with customers. By prioritising the values that are important to your cultural background (such as respect, hospitality, or hard work), you can create a workplace that is both productive and fulfilling.

Also Read: How great leaders embrace uncertainty and ambiguity

Supernormal Zipcy is a digital art project that is focused on creating beautiful and immersive artwork that reflects the values and beliefs of its creators. And what’s really impressive is that this project has been able to create a strong culture that is centered around these values. The founder Andrew Choi, and the wider team is committed to excellence, innovation, and collaboration, and this has allowed them to create artwork that is truly unique.

The numbers speak for themselves. Supernormal Zipcy has already sold over 10,000 NFTs, and it has generated more than US$40 million in sales. And the project has gained recognition from some of the top players in the industry, including Forbes, which named Supernormal Zipcy as one of the “Top 10 NFT Artists to Watch” in 2021. These creators have leveraged their cultural background to create a project that is a market differentiator and is already gaining recognition beyond Web3 into the beauty and luxury industry.

Creating loyalty with less

And let’s not forget about the financial benefits of cultural differentiation. By focusing on a specific niche that is related to your cultural heritage, you can tap into a market that might otherwise be overlooked.

For example, Uniqlo’s success can be attributed to its ability to leverage its roots in creating clothing that is functional, timeless, and versatile. By combining Japanese aesthetics with modern technology and innovation, they’ve built a loyal following around the world.

Of course, embracing your cultural roots isn’t always easy. It can be difficult to balance your heritage with the demands of the business world. Believe that this is a challenge that is worth taking on. By being true to yourself and your cultural background, entrepreneurs will be able to build a business that is not only successful, but also meaningful and fulfilling.

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Silicon Valley-based VC firm 500 Global has announced the appointments of Saemin Ahn, Shahril Ibrahim, and Martin Cu as Partners in Southeast Asia.

The trio will lead 500 Global’s growth initiatives across the region, supporting and nurturing startups at every stage of their growth.

Also Read: StoreHub secures US$13.5M pre-Series B in a 500 Global-led round

Over the past decade, 500 Global has backed over 340 companies across Southeast Asia. Its portfolio companies include Grab, Bukalapak, Carsome, Carousell, FinAccel, and eFishery.

Ahn has a decade of experience in growth investing. He was the Founding Managing Partner at Rakuten Ventures, leading investments in over 25 technology companies, including GoTo Group, Carousell, Epic, and Coda Payments. He previously held management roles at Google in Korea and Singapore.

Ibrahim was Director of Investments and Head of Khazanah Americas, a sovereign wealth fund of Malaysia. He established Khazanah Nasional’s presence in the US, deploying investments in enterprise technology and deep technology, focusing on AI, ML, and robotics. He was also a board member at global fusion energy company General Fusion and on the advisory committee of growth equity VC firm March Capital.

Cu was previously the Philippines Country Head of Ninja Van. He grew the Ninja Van team in the Philippines from 0 to over 5,000 employees and built a nationwide network serving 97 per cent of the country.

“Saemin, Shahril and Martin add significant investment and operational expertise to support the growth ambitions of our entrepreneurs across Southeast Asia,” said Vishal Harnal, Managing Partner at 500 Global. “We will continue to add top talent and winning skill sets to our team in this strategically important region and build on our track record of success.”

500 Global is a venture capital firm with US$2.7 billion in assets under management. It focuses on markets where technology, innovation, and capital can unlock long-term value and drive economic growth.

Also Read: Singapore neobank IN Financial Technology acquires 500 Global-backed MyCash

The VC firm has backed over 5,000 founders representing over 2,700 companies operating in 81 countries. It has invested in 49 companies valued at over US$1 billion and 150+ companies valued at over US$100 million (including private, public, and exited companies).

Its 180+ team members are located in 27 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

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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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With so many cloud communication platforms on the market, it can be daunting to know which is the right one for you. Fortunately, I came up with this buying guide that will help you understand the key features and functionalities of a platform, so you can make an informed decision.

Before I get into that, let us take a minute to define what a cloud communication platform is and why it is essential for your business.

What is a cloud communications platform?

A cloud communications platform is an integrated suite of software that makes it easy and efficient for businesses to communicate via:

• Voice and video calls
• Instant messaging/chat rooms
• Document sharing
• Conference calling
• Collaboration
• Other business-essential functions

It provides a cost-effective solution by allowing businesses to pay only for the computing or storage power they require rather than for more than needed.

More importantly, it is a phone system that uses voice-over-internet-protocol (VoIP) technology to make and receive calls over the internet. It allows users to communicate without the need for physical phones or other hardware, making it an ideal solution for businesses, especially those with a distributed workforce.

By using cloud technology, the software-as-a-service (SaaS) solution is a secure and reliable way for businesses to communicate with their customers, partners, and employees.

What it means for your company

In recent times, the growth of e-commerce, the shift to remote and hybrid work, automation, and the usage of artificial intelligence (AI) have surged globally.

Digital transformation is profoundly changing the way businesses operate. Companies of all sizes, from small to large, are now adopting digital tools to improve employee workflow and efficiency. As technology advances, employers and employees are beginning to realise the importance of making some work easier with technology and streamlining processes through digital technologies and platforms.

Also Read: Why venture capital is going big with cloud mining

Hybrid flexibility is an increasingly popular concept, particularly in the realm of cloud communications. By combining the convenience of a cloud-based platform with the advantages of traditional systems, it is easy to see why this type of flexibility has become so desirable.

Which is right for you?

When you shift your business model to cloud-based communication tools, you must carefully select a communication stack that best suits your needs.

Cloud computing allows users to access communication services without needing to install and maintain hardware or software. It provides enhanced flexibility and scalability, making it an ideal solution for companies that need reliable and efficient communication solutions.

It can be tricky to make sense of popular cloud communication models with acronyms such as CPaaS and UCaaS.

Let me explain the differences between these two types of cloud communication stacks and how they can benefit your business.

CPaaS, or Communications Platform as a Service, is a cloud-based platform allowing companies to seamlessly incorporate communication features into their existing applications.

By utilising modules and APIs, CPaaS enables developers to create custom solutions that expand and evolve the capabilities of an application in real-time without having to create new back-end infrastructure.

Main communication channels:

• VoIP calling
• Text messaging
• Conference calls
• Social media messaging

UCaaS, or Unified Communications as a Service, is an all-encompassing collaboration tool that allows teams to communicate with one another and their customers quickly, regardless of location.

It gives users access to team messaging, video conferencing, and cloud phone features within a single cloud-based platform, eliminating the need for additional infrastructure investments or complex setup processes. All that is necessary is internet access.

Main communication channels:

• VoIP calling
• Text messaging
• Video conferencing
• Team chat messaging
• Social media messaging
• Email

Key features to look out for in a cloud communication platform

If your organisation is looking for a new way to communicate, it is substantial to consider the choices available. UCaaS and CPaaS are both options that can be tailored to specific business needs.

UCaaS provides businesses with an overhauled communications solution without having to build their integrations, while CPaaS will allow companies to keep their existing workflow but integrate proprietary features. Those with security or scalability needs should favor CPaaS, if not, today’s UCaaS solutions offer a great deal of customisation.

Let us explore some of the features of a UCaaS platform:

Scalability potential and connect services

Unified communications (UC) is a way for enterprises to manage their remote communication needs. By deploying a UC platform, organisations can connect internal and external teams with access to popular messaging channels like SMS, email, Messenger, Line, and WhatsApp.

Also Read: How can businesses improve their operating margin by controlling cloud costs

Furthermore, UCs can switch between PSTN and VoIP networks as well as from voice calls to chats quickly and easily, allowing staff members to use voice, chat, video, and conferencing capabilities in one unified system.

Security and compliance features

Customers and businesses need to feel confident that their data is secure when stored and shared within a cloud communication platform. Be sure the platform you select offers security features such as encryption, data backup and recovery, and data protection systems.

Also, for those in industries with strict regulatory compliance requirements, a solution that can meet global compliance standards, including GDPR, is vital.

Customer support

Customer support solutions are essential for efficient customer service. Cast around a platform that includes reporting and analytics tools, allowing you to get an overview of your team’s performance.

You should also look for features such as live chat, virtual call centers, voice mail, caller ID, and automated responses. These features will help you increase customer satisfaction, reduce wait times and improve communication between your team and customers.

Advanced call center features

Many cloud communication platforms come with advanced call center features such as call routing, click-to-call capabilities, VoIP integration, detailed analytics reporting, and more.

Explore a platform with just the right amount of features to suit your specific business needs. These features should help easily manage and monitor customer service calls, track volume in real-time, and store all necessary customer data securely.

Ease of use and cost-efficient

A platform that is efficient, cost-effective, and user-friendly can help your team get the job done faster with no downtime. You can use multiple tools in one place, making it easier to manage and save costs by not constantly switching applications.

Setting it up is hassle-free as it doesn’t require an IT team or complex coding – you could be up and running in minutes.

Choose the best cloud communication platform for your business

Deciding the best mobile cloud communication platform for your business should involve more than just list-checking the features you need.

Also Read: How to migrate your small business to the cloud

You should also consider the three following factors to select the most suitable platform for your company.

Carrier-grade performance and reliability

Carrier-grade reliability is a measure of:

• Dependability
• Performance
• Redundancy
• Availability of telecommunications networks or infrastructure

It is used for applications or networks which require high levels of uptime and security. To ensure the network remains available, carrier-grade components are necessary.

These include PSTN, VoIP, Ethernet networks, as well as carrier-grade hardware. With carrier-grade reliability, you can be sure that your communication systems will perform at an optimal level with minimal disruptions.

Seek out services that assure an annual uptime of 99.95%, with real-time service delivery, monitoring, and support 24 hours a day, 365 days a year.

Combines digital and telecom channels

To maximise business transformation, cloud communication platforms should prioritise customer engagement through their chosen channels. That doesn’t have to just be digital — research shows consumers still appreciate being contacted via telephone or receiving SMS offers.

Therefore, the ideal cloud communications platform should not just connect traditional telephony and digital channels but also effectively transition between them — for example, from an offline conversation to an online chat or call.

Support a team member anytime

In situations when a single staff member is unable to adequately handle a customer enquiry, they have the option of adding in expert help. This could be their boss, a colleague, or someone else who is more knowledgeable about the matter.

Additionally, this individual can take over the conversation if needed. Jumping on calls is an excellent way for customers to get the best service possible. Doing so also allows for a better quality of service and resolution of customer queries.

So, explore platform features that include the capability for users to join an ongoing interaction or take over a chat, voice call, or video call.

Cloud communication – The path forward

Digitisation is ushering in a new era of remote and hybrid work, leading to the emergence of an innovative cloud culture. With digital solutions becoming steadily popular, companies are now able to conduct their operations from anywhere and at any time. This has opened up the possibility for workers to move away from traditional office structures and embrace a more fluid cloud culture with unlimited potential.

Cloud communication is an essential tool for organisations to stay connected with their employees, customers, and investors in this ever-evolving business landscape. It enables them to build intuitive relationships without worrying about physical proximity, technology, or any other factors. With the help of cloud communication, businesses can stay connected no matter where they are.

A cloud communication platform is a service that allows businesses to facilitate cross-team collaboration and customer engagement. By having the right cloud solution, businesses can take advantage of increased efficiency and improved customer satisfaction.

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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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Solo-GP VC funds are gaining traction across the US, and Southeast Asia will also see the emergence of such funds, according to Wing Vasiksiri, Founder of WV Fund II, solo-GP VC firm focusing on the region.

A Solo-GP VC fund is a fund with one General Partner who is also the lone member of the investment committee.

“This model is new to Southeast Asia but has taken off in the US; for example, Elad Gil, Lachy Groom, and Josh Buckley,” Vasiksiri, who earlier founded iSeed SEA, said in an interview with e27. “Like in India, we will start to see more of this [Solo-GP fund] emerge in the region.”

Funds like Kettleborough VC, Better Capital, and Streamlined Ventures emerged in India recently. As per another report, a new wave of solo GP VCs is also coming to Europe.

Also Read: iSeed SEA launches micro-fund targeting Indonesia, Vietnam, Thailand

According to Vasiksiri, the new model has certain advantages, including empathy for founders, speed and transparency, and elimination of the principal-agent problem.

“I am also a founder, although I started a fund instead of a company. I have to think through the same things every founder does: what is my competitive advantage, and how do I hire, scale, market, and brand my company? This gives me high empathy for the entrepreneurial journey,” he said.

Moreover, there is only one decision-maker, meaning the sole General Partner can drastically reduce time in the decision-making process. The solo partner can commit to a round within days or hours if needed and can make decisions quickly, which is greatly appreciated by founders. Every founder also has a direct relationship with the General Partner.

“Eliminating the principal agent is one of the biggest problems in any institution where employers and employees don’t always have aligned incentives. For solo GPs, the brand of the fund equals the brand of the individual, and everything I do reflects on the fund and vice versa,” he added.

However, the model also has some disadvantages, one being it can be challenging to scale as you have more relationships and have to manage time well.

To a question about the difference between an angel investor and a solo-GP fund, he said that an angel investor institutionalises his/her investing and raises outside capital. Most of the time, he/she is not a full-time investor but has another job. “An angel fund can be a solo GP fund if there is only one GP and decision maker.”

Also Read: “To heavily rely on AI for your decision making process in venture investment would be a stretch”

Launched recently, WV Fund II is a seed-stage, sector-agnostic fund investing in founders across Southeast Asia. His first fund, iSeed SEA, was also a solo GP fund, and it is fully deployed.

WV Fund II and iSeed SE have US$14 million in assets under management. The former has invested in ten companies, including mio and Delos Aqua, Upmesh, Haulio, Pina, Mohjo, and Farmacare.

The fund will continue investing across the region by partnering with top founders in my core markets (Singapore, Indonesia, and Vietnam) and secondary markets (Thailand, Philippines, and Malaysia).

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What makes the soonicorns special?

As reported by Channel News Asia, despite challenges here and there, leading tech companies in Indonesia and the rest of the Southeast Asian (SEA) region continued to raise funding, with more companies inching closer towards securing a unicorn status –proudly claiming the label ‘soonicorn‘.

As these companies closing in to the much-coveted unicorn status, we realise that there might be more that is at stake. Starting with the investments that have been trusted in them, we can see how these companies face pressure to build a sustainable business and provide a healthy return to their investors. The public–users and customers of these companies’ products and services–also have a heightened expectations of them to deliver their promises.

But this does not mean all is gloom and doom for soonicorns. There are plenty of opportunities that they can seize. For example, the experiences of previous generation unicorns provide unique lessons for soonicorns; the ability to learn without having to go through the hardest parts.

Soonicorns have the opportunity to do it differently. As an ecosystem, we can help them get there.

Also Read: e27’s TOP100 programme returns to bring Asia’s best startups to Echelon 2023

This year, Echelon Asia Summit will be back on June 14-15 at Singapore EXPO to build towards a sustainable and impactful tech ecosystem.

The event will feature six key themes and tracks:

• Soonicorns and the Future Change-makers of SEA
• Future Sectors and Investment Trends
• Growth and Scaling
• Investments and M&A
• Sustainable Growth and Climate
• Web3

We are looking forward to featuring notable soonicorns of SEA to share their stories with the hope that it can be a lesson for fellow soonicorns and those who are looking forward to follow their footsteps. We will look at lessons in growing and scaling their businesses, mergers and acquisitions, and even the use of emerging technologies such as blockchain.

We are also looking forward to hear from different parties in the SEA startup ecosystem that have played a role in the building of a soonicorn, from venture capital firms who have invested in them to corporates who have partnered with them. We believe that every voice is valuable as we are building a SEA tech startup ecosystem that is more sustainable and impactful.

If you are the right person to speak about this key theme and track, or know someone who does, we would like to hear from you. Register HERE and we will get in touch soon.

See you in June.

 

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