Since I started university, I hadn’t thought I would be interested in tech or even consider building a career in this industry. When I decided on my major, I chose Accounting because I felt it was a highly stable career. And, Accountancy is probably the most practical choice from my perspective.

After graduation, I landed my first job as a finance associate at a local startup. I dealt with accounts receivable, payables, petty cash, and keying accounting entries into Xero, a popular accounting program.

Being in a startup company was a valuable experience as a fresh graduate because I got to wear many hats within the accounting team. Until then, I looked forward to climbing the corporate ladder and growing my career.

My first-hand experience with tech

The opportunity to gain hands-on experience with proprietary technology was offered to me before I transitioned into my role as a financial analyst at a tech giant. That experience sparked my interest in diving into tech, leading me to look out for potential career opportunities and growth in this industry.

Taking the first step

When transitioning into tech, I extensively researched potential career paths and found that data analytics and data science held immense potential. This was in 2015 when the tech industry was gaining momentum, and I was convinced that it would benefit me to make the switch.

However, transitioning careers can be daunting, and I believe you must do your due diligence before deciding. Researching the industry and understanding career opportunities and required courses is critical.

Also Read: Storytelling: Startup’s secret sauce for turning founder narratives into golden assets

Luckily, you can easily find information online with a working device and an active internet connection. This is how I began my research, collecting course brochures and reading reviews and testimonials from those who successfully transitioned to tech. As I saw the potential of this path, my determination to pursue it grew stronger.

Avenues to upskill

My eagerness to jumpstart this career has led me to take multiple courses to facilitate my career transition. Here are some of my personal experiences and thoughts on accessing different avenues of upskilling.

If you do not have a related degree, for example, in Computer Science, one of the fastest ways to gain essential skill sets to enter the tech industry is to take a Master’s programme.

In my opinion, this is the most expensive and time-consuming way. A reputable university’s curriculum is extremely rigorous and comprehensive. You will also need to spend a lot of time and effort studying and working on projects and examinations. You’ll need to commit at least one to two years, depending on whether you are taking a full-time or part-time programme. This will be a long and tough journey, so be mentally prepared. To give you a head start in your tech career, internship programs can also give you real-world experience, which you can add to your resume.

Nonetheless, doing the Master’s or Postgraduate programme is the most effective way to enter the job market faster because the certification is mostly recognised by potential employers. In my experience, this is how HR or various job portal systems might have found my CV quickly.

Coding boot camps is another popular option for individuals seeking a cheaper option with fewer commitments. There are also different types of boot camps available as well.

Alternatively, you can always consider self-learning.

Self-teaching is a cost-effective option that demands self-discipline and motivation. Online resources are available, eliminating enrollment in a course. I prefer self-learning to acquire new skills quickly. I dedicated at least one hour daily to coding and self-paced courses in the early stages of my career, enabling me to code faster and create data visualisations with new software.

The upside of self-teaching is that you can learn at your own pace without strict deadlines. On the downside, self-motivation is vital, and distractions can hamper your focus. Finding quick answers to your questions may prove challenging without a curriculum or an instructor. Nonetheless, a self-taught mentality promotes continuous learning, essential for career growth. Keep upskilling to stay relevant in the industry.

Funding options

It is also important to mention that subsidies and grants are available to offset some of your upskilling courses. Save on your wallet by taking advantage of the Institute of Banking & Finance, Skillsfuture, and IMDA Digital Scholarships. It helped me greatly on my upskilling journey. So consider these available options to help you with your finances.

Also Read: How to balance rapid growth and sustainability as a startup founder

Life after pivoting to tech

It has been years since I moved from Accountancy to Tech, and it has been a fulfilling journey. There’s always a demand for tech skills, so career progression is much faster than in accounting. The skills I’ve gained are valuable to me as I can apply them across different companies.

My experience in tech has given me countless opportunities to work in technical roles or to impart my knowledge. Aside from guest speaking at conferences, I also mentor juniors in their career aspirations. Not only that, but I also appeared on television with Singapore’s Deputy Prime Minister to discuss issues about upskilling and potential growth opportunities. Without that career move, I wouldn’t have had the chance to experience this.

Is it scary to pivot?

Switching from accounting to tech was the best decision I’ve made. It provided me with more opportunities and helped me significantly grow my skills. Stepping out of my comfort zone was necessary for my success. It might seem daunting initially, especially without a prior background or skills, but with continued practice, my fears were unfounded. As I progressed in my career, my confidence grew to the point where I could assist my peers.

Thoughts and advice

My advice to those considering a career switch is to take the first leap and not be afraid to follow through. Depending on your needs, you can choose from many options. Be patient and strive to improve each time. Failure is part of the learning process, a valuable experience that adds to your growth. You will eventually achieve your career goals.

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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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In the era of corporate giants, Elon Musk’s recent move to merge Twitter with X Corp and quietly starting X.AI has captured the attention of geopolitical analysts worldwide. The transformation of Twitter into X Corp may signal the tech magnate’s aspirations to dominate a diverse array of industries with a ‘super’ company, echoing the ambitions of other business titans across the globe.

This phenomenon raises pertinent questions about the shifting balance of power between corporations and governments, and how this will shape the future world order.

The rise of corporate giants and their influence on global industries

The world’s largest companies are diversifying their portfolios and expanding their reach. Elon Musk’s X Corp, through its merger with Twitter, is poised to make a significant impact across various sectors.

It joins the ranks of other ‘super’ companies, such as Amazon under Jeff Bezos, Alphabet Inc. led by Larry Page and Sergey Brin, Tencent with Pony Ma at the helm, BYD steered by Wang Chuanfu, Reliance Industries Limited directed by Mukesh Ambani, Tata Group with Natarajan Chandrasekaran in command, and Adani Group overseen by Gautam Adani.

These corporate giants are expanding their influence across industries and economies. They’re using strategies like vertical and horizontal integration, innovative technologies, and harnessing vast amounts of data to dominate their respective markets. In doing so, these companies not only reshape industries but also wield significant power over resources, potentially rivalling the influence of governments.

How governments are reacting to increasing corporate control over resources

Corporations are gaining control over resources and industries, and governments worldwide are struggling with the implications of this newfound power. The regulatory environment needs to adapt to the changing landscape, with tax regulations playing a crucial role in corporate expansion strategies. Governments must find the right balance between fostering innovation and growth while maintaining control over resources and industries.

Also Read: Tailored corporate governance: Key actionable steps for startups at different growth stages

Protectionist Policies

Governments are adopting protectionist policies, such as trade barriers, tariffs, and restrictions on foreign direct investment. These measures are designed to safeguard domestic industries and resources from foreign corporate giants, preserving national interests and economic stability.

Public-Private Partnerships

Governments are also establishing public-private partnerships (PPPs), collaborating with private corporations to address shared goals and objectives. PPPs can provide valuable opportunities for both parties, enabling corporations to access government resources and expertise, while governments benefit from the innovation and efficiency that private enterprises can offer.

Supporting Independent Media

Governments can support independent and diverse media outlets to provide a wide range of perspectives and prevent corporate bias or manipulation of public opinion. This can involve funding public broadcasting, implementing strict rules on media ownership concentration, and encouraging journalistic integrity.

Preserving Cultural Heritage

Governments can support cultural preservation initiatives that celebrate and promote national and local identities, preventing the erosion of cultural heritage by corporate globalisation.

The implications of corporate dominance on the future world order

The implications of corporate dominance on the future world order are vast and complex. Concentrated corporate power has the potential to significantly impact global economies and politics, shaping international relations and global governance in unforeseen ways.

Also Read: Fighting the chaos of growth: 5 practices to improve corporate governance beyond the board

As these corporate giants continue to expand their influence, alliances or competition among them could emerge, leading to a new era of rivalry over resources and industry control. The changing relationship between governments and corporations will play a pivotal role in this evolving landscape.

For example, the Big Tech alliance, consisting of companies like Amazon, Apple, Meta, Alphabet, and Microsoft is a corporate geopolitical bloc that works together across national borders to influence policies, regulations, and international relations in their favour. They have established a presence in multiple countries and operate across various industries, where their influence extends beyond their respective industries, shaping global conversations on data privacy, antitrust regulations, taxation, and labour rights.

These Big Tech companies often collaborate and lobby for shared interests, such as pushing for favourable regulations, advocating for international trade agreements, and influencing global internet governance. They have also been known to form strategic alliances or partnerships to maintain their dominance in the global market and fend off competition from emerging tech players.

While these companies have contributed significantly to innovation and economic growth worldwide, their dominance has raised concerns about monopolistic practices, data privacy issues, and the erosion of democracy. Governments and international organisations are increasingly scrutinising the actions of these corporate giants and considering ways to mitigate their influence on the global stage.

Corporate dominance could also exacerbate existing tensions and inequalities, both within and between nations. The increasing concentration of wealth and power among a handful of corporate giants may fuel social unrest and political instability. Furthermore, the widening gap between developed and developing nations may be exacerbated by the unequal distribution of resources and opportunities afforded by corporate giants’ presence.

As these corporations expand their reach and influence, their actions and decisions will have far-reaching consequences for the global community. Their impact on the environment, labour rights, privacy, and access to essential goods and services will be under increasing scrutiny, however, without regulations in place, it leaves one to wonder if these corporate giants will act responsibly and ethically.

In conclusion, the rise of corporate giants represents a defining moment in the shifting balance of power between corporations and governments. Ultimately, the future world order will be shaped by the delicate balance of power between governments and corporations, with both parties vying for control over resources and industries.

It will be crucial for governments, corporations, and citizens alike to engage in dialogue and collaboration to strike a balance between economic growth, innovation, and the preservation of national interests and global stability.

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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

Image credit: Canva Pro

The post Global geopolitics in flux: The powerful impact of corporate titans on the world stage appeared first on e27.

e27’s Regional MeetUp 2023 seeks to gather regional disruptors and innovators and bring the latest insights on the regional tech startup ecosystem straight into their respective homes — our next stop: Singapore.

We’ll see you at WeWork 21 Collyer Quay on Friday, 21 April. Here’s what to expect:

The e27 MeetUp in Singapore features a panel discussion with the topic “Southeast Growth Series: How can Singapore’s’ tech ecosystem grow sustainably and where are future growth drivers”, with speakers Xander van der Heijden, Founder and CEO of UNL; Jeremy Au, VC and Chief of Staff at Monk’s Hill Ventures; Bing Tan, Marketing Lead at Clevertap; and Mohan Belani, CEO and Co-Founder of e27; with moderator Thaddeus Koh, co-founder of e27.

Also read: Championing disaster tech, meet Prudence Foundation at Echelon!

This event is an excellent opportunity to connect with the local tech startup community at Manila, share insights with experts and your peers, and potentially get free tickets to the Echelon Asia Summit happening on June 14-15 in Singapore.

The e27 MeetUp is also a great opportunity to explore how you can work with the e27 community – and e27 – to help you achieve your goals.

This is an invite-only event. If you would like to be a part of it, leave us your details in this form.

This event is brought to you by e27, in partnership with WeWork and WebEngage.

The post Ditch your other plans and Meetup with us in Singapore appeared first on e27.

Accredify, a verifiable technology solutions provider in Singapore, has closed its ongoing Series A funding round at US$7 million.

iGlobe Partners and SIG Venture Capital co-led the round with participation from returning investors Pavilion Capital and Qualgro.

The money will be used to expand its regional presence across the Asia Pacific.

The startup has a presence in nine markets and eight industries and will focus on Singapore, Australia, and Japan in the coming year. To this end, it will utilise its capital to grow its team within Singapore and its focus countries. This includes greater investment in its first international office in Sydney (established last year) and planning for an office in Japan.

Also Read: Accredify raises US$2M to combat the rising fake degree certificates issue in education sector

Founded in 2019, Accredify started by helping higher education institutions to issue verifiable qualifications. Today, its SaaS solution is used across the public and private sectors, enabling government institutes and enterprises to digitally issue verifiable documents.

The firm uses blockchain technology to ensure the authenticity of a document that is shared or received, protecting against fraud and forgery. Accredify’s solutions can also be used in authenticating gemstones.

It now looks to expand into more industries and markets to build digital trust in business operations, public sector governance, and daily life.

Since its inception, it has worked with Singapore’s Ministry of Health and the Accounting and Corporate Regulatory Authority (ACRA).

“Breaking down the multi-variate problem of transacting trust, Accredify delivers a simple elegant solution that is cost- and time-effective and accurate for their users. As more countries continue to chart towards their digital ambitions, we believe that trust technologies like Accredify’s are foundational to enabling that secured connected future,” said Blake Ong from SIG Venture Capital.

In October 2021, Accredify closed a US$2 million financing round led by VC firm Qualgro.

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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 platform, and other prizes. Join TOP100 here.

The post Accredify closes US$7M Series A to take its doc verifying tech to new markets in Asia appeared first on e27.

In March, after some delays, AnyMind Group finally completed its IPO and listing on the Tokyo Stock Exchange Growth Market.

It issued 885,300 shares with an additional overallotment option and associated offering of 403,400 shares with a secondary public offering of 1,804,200 shares at a price to the public of JPY1,000 (US$7.41) per share. The Singapore-born company intends to use the proceeds to invest in talent development and expand its footprint.

As with any Southeast Asian tech startups that have been publicly listed, we want to learn more about the journey of AnyMind Group–how they get here and where they are going. Most importantly, as expectations for tech startups to build a sustainable business heightened, we feel the urgency to learn from fellow startups on how they make their revenue and achieve success.

So we sit down with AnyMind Group Chief Commercial Officer and co-founder Otohiko Kozutsumi to understand more about the company’s business model. We uncover the important roles played by M&A, international expansion, and human resources in their journey.

A three-pronged business model

Founded in 2016, AnyMind Group builds a commerce infrastructure that includes everything from brand identity, manufacturing, communications, and even logistics, with a strong emphasis on cross-border businesses.

Currently run by a team of more than 1,300 staff, the company operates in 13 markets in Greater Southeast Asia, Japan, and even as far as India. These markets contribute to 53 per cent of its international revenue, with the company making a revenue of more than JPY24 billion (US$178 million), a 54 per cent revenue CAGR (from 2017 to 2022).

While the company’s biggest team is in Japan with 350 employees, Kozutsumi names Thailand as AnyMind Group’s biggest market with 275 employees.

Also Read: Ecosystem Roundup: Startups share valuable 2022 lessons; AnyMind delays IPO

The company operates three business lines:

Marketing
Contributing 53 per cent of AnyMind Group’s revenue, this segment is represented by platforms AnyTag and AnyDigital.

D2C and e-commerce
Represented through platforms such as AnyFactory, AnyX, and AnyLogi, this segment contributes 12 per cent to AnyMind Group’s revenue.

Partner Growth

Despite being relatively new, this segment contributes 35 per cent of AnyMind Group’s revenue.

“We focused on the marketing side of the business since our founding in 2016, then we expand to e-commerce and D2C-related businesses,” Kozutsumi explains. He further elaborates how the D2C and e-commerce business line has grown “really dramatically” since it started two years ago, just like the Partner Growth business line that was started in 2018.

Also Read: Afternoon News Roundup: Singaporean tech entertainment firm AnyMind raises US$26.4M Series B

Human resource as keys to profitability

In FY2022, AnyMind Group recorded an operating profit of JPY30 million (US$223,000). During the interview, Kozutsumi explains all the factors that helped the company achieve this number, despite an operating loss of JPY213 million (US$1.5 million) in FY2021.

“As you can see, all of these business models are B2B in nature … It means we don’t need to invest a lot for the user acquisitions like B2C business. So, the important point is that we have a strict budget control system. We should achieve the target, but at the same time, costs should also be maintained in quite a good way,” he says.

Human resource plays a key role in the company’s performance. To help meet internal KPIs, AnyMind Group invests in training their employees, so that they can increase productivity effectively. According to Kozutsumi, cost efficiency and productivity are the reasons why the company is able to achieve profitability without any layoffs.

In addition to those two factors, in July 2022, AnyMind Group also raised US$29.4 million in Series D funding to support its business.

Bringing talent onboard

International expansion plays an important role in growing AnyMind Group’s business, and the company is able to achieve this by acquiring companies that already have a strong presence in the market they are aiming for. By far, they have acquired a total of seven companies.

Some examples of acquisitions that AnyMind Group has done in the past include MoIndy Digital in Thailand and POKKT in India.

By acquiring these companies, in addition to expanding its geographical reach, AnyMind Group also introduced its services into these markets.

Also Read: AnyMind Group closes Series B funding at a total of US$21M

“When we enter India, they were only doing digital marketing business, so we brought our influencer marketing platform to the market,” Kozutsumi says.

Once a company was acquired by AnyMind Group, its founders then entered the group’s management team and became country managers for the market it operates in. This is why M&A also plays an important role in the group’s human resource aspect.

“Through the M&A, we are able to invite very talented and committed founders to AnyMind. That way, we can build a very strong management team,” Kozutsumi says.

This is why, when considering an acquisition of a company, the founders are one of the first things that the group considers. “The culture match is … super important,” Kozutsumi stresses.

The CCO also mentions that the group is set to do more acquisitions in the future.

This year, after the IPO, AnyMind Group aims to focus on increasing its profit by growing its D2C and e-commerce business more aggressively.

“There is also the long-term possibility of expanding outside of Asia as well,” Kozutsumi closes.

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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.

Image Credit: AnyMind Group

The post How AnyMind Group achieved profitability through its approach to human resource and leadership appeared first on e27.