Hybrid work is becoming the status quo in Southeast Asia, with 45 per cent of companies providing it and only 12 per cent offering remote work options to employees, finds a joint study conducted by Glints and Monk’s Hill Ventures.

While in Singapore, about 63 per cent of startups offer hybrid work and 43 per cent full-time office work. In Indonesia, it is 59 per cent (hybrid) and 33 per cent (full-time office work).

Vietnam has bucked the trend, with 83 per cent of companies offering full-time office work, while only 11 per cent favour the flexibility of hybrid work.

The Southeast Asia Startup Talent Report 2023 further finds that a flexible or hybrid work environment is equally essential as performance and annual wage supplement bonuses.

Also Read: Tech talent war in Singapore expected to continue as the job market stabilises in 2023: Report

Another key finding of the study is that the tech talent crunch still persists in the region, with tech roles remaining high in demand, earning, on average, 38 per cent more than non-tech roles. Engineering remains the most sought-after tech function, with the VP of Engineering making upwards of US$235,200 annually.

Specialised skills such as product and data are also highly attractive to employers. After engineering, talent in product and data is the highest-paid.

Singapore remains the most expensive market to hire tech talent, with engineers paid 3x higher than in Indonesia and Vietnam. Product managers are also paid 3x higher in Singapore than in Indonesia and Vietnam.

The tech talent compensation landscape started destabilising at the beginning of 2022, with the crypto bubble bursting and a wave of tech layoffs from tech giants such as Shopee, Lazada, and GoTo. The impact will continue reverberating throughout 2023 as tech startups search for ways to cut costs and extend their runway for another 12-36 months, particularly as many investors and founders expect a more challenging fundraising environment this year.

Other key findings of the report:

• Median CEO base salary grew 2.4x for those that raised US$0-5 million rounds compared to 2021 as companies raised larger rounds. More CEOs are taking greater equity dilution, likely due to the current headwinds. A 5 per cent drop in equity was seen for CEOs in the US$5-10 million funding stage compared to 2021.
• Product managers saw the most considerable salary increase, making 27 per cent more than in 2021.
• As companies focus on profitability and positive cash flow this year, the top three functions that companies prioritise hiring for in 2023 across markets are engineering, business development & sales, and marketing & PR.
• Cash still prevails over equity in the region. While 86 per cent of companies surveyed offer ESOP, on average, ESOP is only made available to one-third of their talent.

For this report, Glints and Monk’s Hill Ventures analysed over 10,000 data points for tech startup roles in Singapore, Indonesia, and Vietnam. The survey received more than 150 C-suites and founder data points.

Glints and Monk’s Hill Ventures also conducted a talent survey with over 500 tech and non-tech talent working in startups and a 2023 hiring sentiment survey with 58 startups in Singapore, Indonesia, and Vietnam. In-depth interviews were conducted with over 40 founders, VCs, and operators from Singapore, Indonesia, and Vietnam. Founders in Thailand, Malaysia, and the Philippines also contributed additional perspectives.

Also Read: Singapore faces talent crunch for engineering and product manager roles: Report

“Attracting and building high-performance teams remain top of mind for founders and their teams, particularly in a climate where they have to do more with less while achieving positive unit economics. There is still much more to do to provide the tools for employers and talent in startups to make informed decisions about their talent strategy,” said Oswald Yeo, Co-Founder and CEO of Glints.

“There has been no better time to build high-performing teams in Southeast Asia. Despite headwinds, the region is poised for growth, with tech innovations taking centre stage and investments flowing in to back this stream of sustainable growth. There is a lot of ground to cover for startups to attract and retain top talent in the current climate,” added Peng T. Ong, Co-Founder and Managing Partner of Monk’s Hill Ventures.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Hybrid work becoming the status quo in SEA except in Vietnam: Report appeared first on e27.

A partnership is a critical aspect of any successful endeavour, and the upcoming Echelon Asia Summit 2023 is no exception. With the Asia Pacific tech conference happening in Singapore EXPO on June 14-15, 2023, sponsors are playing a crucial role in ensuring its success.

Also read: Nurturing Asia’s next generation of entrepreneurs and innovators

Echelon Asia Summit 2023 is one of the premier events for technology professionals, bringing together experts from around the world to share knowledge and discuss the latest trends and innovations in the Southeast Asian tech startup ecosystem. This year’s conference will feature keynote speeches, panel discussions, and workshops on a wide range of topics, including artificial intelligence, blockchain, digital healthcare, and other emerging digital trends.

How these partners are helping us give you the best Echelon experience ever

Sponsors play a critical role in ensuring the success of the Echelon Asia Summit 2023 in several ways. Firstly, they provide various forms of support and coverage for the various activities and features that make the summit such an exciting and meaningful experience for attendees.

Moreover, sponsors bring their expertise and experience to the table, providing attendees with unique perks. By leveraging their networks and marketing channels, sponsors also help bridge the event to wider audiences, enabling access to valuable insights for different demographics.

Also read: 9Unicorns announces 3rd Edition of DDay on April 18th 2023!

One of the key roles of sponsors is also their presence at the actual Echelon Asia Summit. This provides attendees with the opportunity to network with them and get to know their products and services, which is an essential aspect of Echelon’s purpose as an ecosystem enabler that connects all stakeholders together. By supporting the Echelon Asia Summit 2023, founders can connect with other professionals, investors, and startups in the tech industry, forging new partnerships and collaborations that can drive business growth and success.

As such, e27 is proud to announce Sendbird as one of its sponsors for the 2023 edition of the Echelon Asia Summit!

Meet Sendbird at Echelon Asia Summit 2023!

Sendbird believes conversations are at the heart of building relationships and getting things done. The company’s global conversations platform powers over 7 Billion mobile messages and interactions every month. Industry leaders like Paymaya, Traveloka, Carousell, AirAsia, Reddit, and Paytm build with Sendbird chat, voice, video, and livestream APIs to create a differentiated user experience that improves customer retention, conversion, and satisfaction.

Headquartered in California, Sendbird is venture-backed by ICONIQ Growth, STEADFAST Capital Ventures, Tiger Global Management, Meritech Capital, Emergence Capital, Shasta Ventures, August Capital, Funders Club, World Innovation Lab, and Y Combinator.

Also read: Real-time interactivity is changing consumer engagement with businesses

“At Sendbird, our mission is to build connections in a digital world. We believe that digital doesn’t have to mean impersonal. Unfortunately, people and businesses looking to connect digitally have to make a choice between the impersonal experience served by email and plain text messages over legacy SMS systems or trusting their identity and data to a handful of messenger monopolies. The result is the connections we make digitally have become increasingly transactional and superficial. We are here to change that. By participating in Echelon this year, we look forward to companies that share the same mission as us and how Sendbird can help these businesses connect digitally in a more meaningful way,” shared Sendbird.

Join Echelon Asia Summit 2023

Get to know Sendbird and more at this year’s Echelon!

Echelon Asia Summit 2023 is happening on 14-15 June, at the Singapore Expo. Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the event enables participants to connect, network, and engage with the larger tech startup ecosystem.

To learn more about Echelon Asia Summit 2023 and sign up for the event, visit the official page here.

The post Sendbird: One of the world’s biggest conversation platforms will be at Echelon! appeared first on e27.

In this episode, we are excited to welcome Jack Mardack, Co-Founder of Oyster. Oyster is a global employment platform that empowers companies to hire, pay, and care for their employees anywhere in the world. In Mardack’s career as a data-driven marketing and growth leader, he has helped broaden the global footprint of companies such as Vonage, Chartcube, and Prezi.

In this discussion, we talked about why embracing diversity is the most important lesson when building a global company, how trust is a lynchpin for distributed organisations, and WHY aligning company strategy with core values enables growth for companies such as Oyster.

Also Read: Why it’s time to hit ‘refresh’ when it comes to addressing the gender diversity gap in the IT sector

Listen, subscribe, and leave a review now on Apple, Spotify, or your favourite podcast platform.

This episode is sponsored by our partner ZEDRA. Learn more about how the ZEDRA team can support you in expanding to new markets here. ⁠

Get your copy of our Wall Street Journal Bestselling book, GLOBAL CLASS, a playbook on how to build a successful global business⁠. ⁠⁠

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This content was first published by Global Class.

Image Credit: Global Class

The post The benefits of workplace diversity you’re likely to miss, according to Oyster co-founder appeared first on e27.

The insurance penetration in Indonesia is lower than in other countries in Southeast Asia despite fairing a higher GDP per capita. This points to the problem of lack of insurance accessibility rather than affordability, according to Qoala Founder and CEO Harshet Lunani.

“Also, although insurance is part of a financial tool, it is far behind other financial services such as payments and credit. We don’t think a single company can solve this hurdle; it requires collective efforts. We believe technology is required to address this to a large extent,” the CEO said in an interview with e27 soon after announcing US$7.5 million in a Series B extension round led by responsAbility Investments AG.

Lunani also said that insurance is largely misunderstood in Southeast Asia. It is currently thought to mitigate day-to-day costs instead of long-term planning to mitigate unforeseen events that put a dent in one’s life and lifestyle. “This is why we have put a lot of emphasis on accessibility and financial literacy to achieve financial inclusion.”

Qoala has attempted to improve accessibility in two ways: first, by investing in platform partnerships, such as Traveloka, Shopee, and redBus. By doing this, more people could familiarise themselves with insurance, given that they are already familiar with such platforms.

Secondly, Qoala created new products because the insurtech startup believes that the current one might not fit the segment from a financial inclusion perspective.

Also Read: Swiss impact investor leads US$7.5M Series B+ round of insurtech firm Qoala

As for financial literacy, Qoala has invested a lot in content creation to educate the public to be more financially savvy. “Instead of using our owned media solely for promotional purposes, our social media and blogs (Indonesia and Malaysia) are curated transparently, making us a trusted financial information hub,” the Qoala CEO explained. “We will also continue deepening our relationships with insurers to address the emerging challenges for our three markets — Indonesia, Thailand and Malaysia.”

Launched in 2018 by Lunani and Tommy Martin, Qoala is an omnichannel insurtech platform that allows customers to access insurance comfortably, fairly and transparently. The firm works with insurers to develop products that have high relevancy for customers and make them financially accessible to their customers. It distributes retail insurance products to consumers for cars, bikes, homes, and health through its platform.

Qoala claims to have processed over US$30 million in claims by partnering with insurers across Indonesia, Thailand and Malaysia.

The firm plans to use the Series B extension round to improve the product experience; going deeper into the value chain will be its focus, and doing it sustainably will be the emphasis. “While expansion remains a key area, our priority will be scaling up sustainably with improved economics. If there are opportunities to enter a new geography sustainably, we will consider them,” Lunani said.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.

The post In Indonesia, the problem is lack of insurance accessibility, not affordability: Qoala CEO appeared first on e27.

Malaysian online doctor consultation startup Qmed Asia has raised RM5.1 (US$1.2) million through an equity crowdfunding (ECF) campaign on Leet Capital. 

As many as 110 investors participated in the campaign, including angels, the Malaysia Co-Investment Fund (MyCIF), and 1337 Ventures. 

“With this funding, we are well-positioned for regional expansion into markets such as Indonesia and Saudi Arabia while also driving the development of our deep-tech solutions in medical AI,” said Dr Kev Lim, Co-Founder of Qmed Asia.

Also Read: How to inject agility into your fundraising

Qmed Asia (formerly QueueMed) was launched in 2018 by doctors and engineers, including Lim, Dr Tai Tzyy Jiun, and Nic Tai. It started as an appointment booking and mobile live queue system provider for the healthcare industry. During the pandemic, Qmed Asia became the official partner for the operations of 42 COVID-19 vaccination centres, signing partnerships with Nestlé Malaysia and SP Setia Group.

The startup currently serves over 4,000 healthcare providers in both the public and private sectors, with over three million active patients to date.

Qmed Asia recently unveiled two innovative products: Qmed GO, a telehealth kiosk for workplaces offering teleconsultations and remote patient monitoring run by local general practitioners, aimed to reduce employee medical coverage costs. 

The second product, Qmed Copilot, is an AI-powered clinical assistant that empowers healthcare professionals to diagnose faster and more accurately. By leveraging technology, Copilot allows doctors and clinicians to identify patterns and trends in patient data, effectively reducing diagnostic errors and ultimately improving patient outcomes.

Also Read: The future of startup fundraising in Singapore

Qmed was the winner of the 1337 Ventures ECF Accelerator.

Launched in 2019, Leet Capital is an innovative and premier equity crowdfunding platform. Ata Plus and pitchIN are the other two leading ECF platforms in Malaysia.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27 platform, and other prizes. Join TOP100 here.

The post Malaysian healthtech startup Qmed secures US$1.2M to expand into Saudi, Indonesia appeared first on e27.