Happening this 14-15 June 2023 at the Singapore EXPO, the Echelon Asia Summit is one of the largest tech and business conferences in Asia that gathers entrepreneurs, investors, and industry experts from across the region. The event aims to provide a platform for startups and businesses to showcase their innovations, network with peers and investors, and learn from renowned speakers and thought leaders.

The summit features a range of activities, including keynote speeches, panel discussions, workshops, and exhibitions, that cover a diverse range of topics concerning today’s tech startup ecosystem. The event is also home to the TOP100, one of the region’s most prestigious pitching competitions, enabling startups to gain exposure, connect with potential investors, and forge new partnerships.

Also read: Check out 10 more startups that are saving lives

The Echelon Asia Summit provides a valuable opportunity for attendees to gain insights into the latest trends and developments in the Southeast Asian tech ecosystem, enabling all participating stakeholders to explore new opportunities for growth and expansion.

As an ecosystem enabler and community builder, it is important for Echelon to offer space for exciting new startups to showcase their innovations. With that, here are six startups that will be exhibiting at this year’s tech conference.

Six exhibitors to check out at the Echelon Asia Summit 2023

Anapi

Anapi is an intelligent platform that simplifies how businesses manage their insurance and saves them money.

Its AI-powered software is built using advanced technology and the latest in machine learning to derive accurate risk pricing and automation. Built for startups and enterprises alike, Anapi gives businesses advanced risk-management capabilities, turning risk into profit.

The Anapi Hub is a smart online tool to manage all your business insurance and ensure you never overpay again. It keeps track of key information such as insurance renewal dates, as well as coverages and policy documents in the same, easily accessible place while delivering an average of 20% savings on insurance premiums. Simply upload your existing insurance policies, and let the Hub take care of the rest.

For more information, visit https://www.anapi.co/

Buyandship

Established in 2014, Buyandship is an HK-based company providing global shipping services for customers that wish to shop across the US, the UK, Japan, Korea, China, Taiwan, Australia, and Italy with ease and comfort. They have established a network of self-operating (US, JP) and dedicated (UK, KR, CN, TW, AU, IT) warehouses for users to ensure fast and efficient delivery services.

Scheduled flights from these warehouses back to HK are arranged weekly, while the delivery fee will be based on the parcel’s actual weight (not parcel size).

From now on, overseas online shopping can be fulfilled with just a click of a button. All you need to do is sit back, relax, and your parcel will arrive at your doorstep in no time.

For more information, visit https://www.buyandship.today/en/

fewStones

fewStones was founded in 2011 in Singapore by Sophie Normand and Jean-Christophe Bougle as a Video Production Agency. In 2014, fewStonges became the first agency in Singapore to be YouTube Certified for Audience Growth. Since its inception, fewStones has worked with numerous Singaporean and international customers on a wide range of videos. In 2015, fewStones added remarketing videos to its scope of services in order to help agencies and businesses improve their ROI on their website traffic.

fewStones Pte Ltd is a web service and digital marketing company based in Singapore developed around four main activities: Web Services, Digital Marketing, Video Services, and Mobile Applications.

For more information, visit http://www.fewstones.com/

Also read: Why you should go to WeWork and MeetUp with us at Ho CHi Minh

INK IDÉE

INK IDÉE is a full-service Intellectual Property Rights boutique firm. They coined this adage as their belief motto. For anyone and everyone who has an idea, be it an invention or an innovation or a product or a process, be it names or slogans, be it literary, artistic, or dramatic work; be it aesthetic enhancements, INK IDÉE divulges their experience in getting it down on pen and paper to define your legal rights, and to affirm them to you, consequently.

For the past decade or so, they have been indulging in these activities and, in their endeavour, have helped a gamut of entrepreneurs, corporates, individuals, SMEs, and businessmen to gain that extra mileage in flashing and creating a portfolio of intangible assets by protecting their Intellectual Property Rights.

For more information, visit https://www.inkidee.com/

Parlon

Parlon is a beauty technology platform where you can discover, book, and buy best-in-price beauty and wellness deals in the Philippines. Parlon is partnered with over 350 salon and wellness brands and 1,500 branches in more than 60 cities/provinces in the Philippines. With the widest salon network in the Philippines and expanding soon in Singapore, they are on the road to becoming Southeast Asia’s largest beauty services discovery and fintech platform.

They provide their merchant partners with a world-class multi-channel ecosystem, enabling them to accept bookings and payments, not just in the Parlon app and website, but also via the biggest platforms like Grab, Google, and GCash. With their proprietary technology, they have helped their merchant partners go digital by enabling them to sell their deals online and manage their daily operations.

For more information, visit http://www.parlon.ph/

WAOHire

The WAOHire company is a collective group of tech recruiters and developers. They help fast-growing companies connect with talented developers. They take a humanised approach to hiring and working with developers because they know that it’s the best way to find the best developers for businesses.

WAOHire prides itself on the following achievements:

• 8 years in the market
• Team of 60+ talent members
• Helped build offshore development team for 15+ trusted clients worldwide
• Organiser/contributor to multiple established tech communities in Asia.
• Partners with top universities such as HCMUT, VNUHCM, FPT, RMIT, UIT, NangYang, and SUSS

For more information, visit http://waohire.com/

Join us for this year’s Echelon!

Catch all six exhibitors as they showcase their unique and exciting innovations at the Echelon Asia Summit 2023 happening in Singapore EXPO on 14-15 June 2023. Attendees also get to enjoy a variety of activities including keynote speeches, panel discussions, workshops, and networking opportunities designed to foster collaboration and knowledge-sharing among participants.

Also read: Meet these 10 startups that are saving lives

This year’s program theme will focus on “Building towards a sustainable and impactful tech ecosystem” which is a timely topic to be discussed among industry leaders concerning our ever-changing market and business landscape.

Interested in taking part in one of the biggest tech conferences in the region? Visit the official Echelon Asia Summit 2023 page for more information.

The post Six exhibitors to wow you at the 2023 Echelon Asia Summit appeared first on e27.

Forging corporate-startup partnerships provide meaningful opportunities to engage in the innovation process, creating win-win scenarios that end up benefiting the ecosystem as a whole. Deeply entrenched in its ethos is to appreciate the value of partnerships in driving growth, rather than trying to internalise all processes and doing everything on your own. 

From the corporate perspective, corporate-startup partnerships help stakeholders bring faster innovation to an increasingly competitive landscape and in turn help accelerate product development. From the startup side, collaborations like this bring a deeper understanding of the market landscape and industry. There is also the upside of helping startups gain access to the larger partner’s market. Multiple ways of collaboration have popped up in recent years, with each one premised on featuring an ecosystem-centric approach.

SAP and XS APAC: leading the charge for corporate-startup collaborations

An example of this ecosystem-centric design is SAP’s expanded innovation initiatives. In a conversation with e27, Morikawa Hakaru, Vice President and Head of Industry and Customer Advisory shared key insights on SAP’s strategy in scaling win-win partnerships and SAP’s priorities in Asia, particularly in expanding its innovation footprint. This is illustrated by the frequency of its partner webinars and roundtable discussions with various stakeholders, culminating in an insightful discussion at Echelon 2022. SAP has been active in its commitment to nurturing innovation through the decades, and the company is quickly adapting to the changing times.

SAP shares and reiterates the relevance of the corporate-startup alliances in terms of opportunities. “From our point of view, corporate and startup collaborations can help corporates operate in a far more agile manner and can quickly adapt when any disruption happens.”

Also read: DigitalOcean: One of the world’s fastest-growing cloud computing platforms will be at Echelon!

In this spirit of partnerships and collaborations, SAP has teamed up with XS APAC, a growth advisory whose mandate is to take a critical view of business strategies and cascade that to implementable corporate initiatives, identify and pursue feasible sources of growth capital, and finally bring onboard their extended network spanning industry captains, major corporations, governments and collaborative ecosystems, to bring businesses to regional markets.

SAP and XS APAC’s partnership on a series of engagements highlights this commitment such as with the series of webinars entitled “Let’s make a deal: How to do Business with Large Enterprises?” and “How to manage your digital offerings to drive growth and cut costs”; their virtual talk on creating value within one’s investment portfolio entitled “Value Creation: Portfolio – Virtual Roundtable”; and their roundtable discussion held at last year’s Echelon Asia Summit, entitled “How can startups scale sustainably and enter new markets through corporate partnerships?”

Corporate-startup collaborations are evolving at a clear path moving forward

There is a lot of development in how strategic partnerships between corporations and startups are formed, stemming from the visible impact that these collaborations entail. Corporations can engage startups in multiple ways — from product diversification to market access, acceleration, and technology integration. Working with startups ensures that corporations remain relevant and that they do not get disrupted. 

At the Value Creation: Portfolio – Virtual Roundtable, where Herston Elton Powers, Co-founder and Managing Partner of 1982 Ventures served as one of the panellists, he explained that “We expect more corporate-VC collaborations as specialist VC funds, like 1982 Ventures, can provide more than strong financial returns. Corporates can leverage our expertise in fintech and access to the early-stage startup ecosystem to achieve their strategic objectives.”

1982 Ventures is a fintech-focused VC fund that corporates have been partnering with to accelerate their digitisation journey, their entry into fintech, and embolden their corporate VC activities. Herston further explained, “Our corporate limited partners (LPs) invested in our fund to gain access to co-investments into fast-growing fintech startups and innovative tech solutions. We support our corporate LPs in identifying fintech and B2B solutions that will benefit their underlying business and customers. 1982 Ventures supports our corporate LPs to create win-win partnerships with the next generation of fintech champions in Southeast Asia.”

Also read: Opportunities abound for Hong Kong’s largest I&T Career Expo

This emphasises the various ways in which corporate-startup collaborations can help materially impact the mission of both stakeholders. Setting as a great example for the broader ecosystem, these partnerships are why many startups are inclined to network and engage with corporates seeking out joint ventures.

Mohan Belani, CEO of e27, adds “The outlook for corporate-startup collaborations is very positive. For corporations to be effectively working with these startups, it shows forward thinking. Working with startups helps provide corporates with an edge by seeing new opportunities that they might have previously missed. It also helps to work with very smart and talented people solving problems at scale.”

It is also especially important in today’s ecosystem where things are moving very quickly. Corporations are now dealing with competition from multiple different geographies and stages of organisations, and an effective way to mitigate these risks is to accelerate innovation through successful strategic partnerships.

Success in corporate-startup collaboration

Siddharth, Director of Strategic Accounts & Partnerships at VersaFleet strongly believes that partnerships will help accelerate the company’s business growth, especially in terms of having customer base access and resources from corporates. 

To name a few important case studies, VersaFleet is also working with McKinsey’s Singapore Digital Capability Centre. As the next steps, VersaFleet has integrated its solution with McKinsey’s Model Factory in a Box (MFIB) and is now available for showcasing. 

VersaFleet is also actively working with Industry 4.0 Human Capital Initiative, the first programme in Singapore dedicated to helping companies prepare and implement successful Industry 4.0 transformation. 

The Industry 4.0 Human Capital Initiative (IHCI), a programme by the Singapore Business Federation and Workforce Singapore, is the first of its kind in Singapore to equip companies with people management and job redesign skills required for successful Industry 4.0 transformation. Through the programme, companies will develop the technology and workforce transformation roadmap that includes strategic HR/manpower planning and change the management plan to support future implementation. Companies that completed the programme have successfully managed to increase revenue through increased output, improved productivity, and improved machine effectiveness. 

Driving the vision of innovation in 2023

In the 21st century, the fastest companies that convert big ideas into business outcomes are the winners. The only way this is possible is with a culture of innovation that encourages organisations to stay ahead of technology trends, and for SAP, this means working with startups that provide value to their customers. The programmes remain stage and industry agnostic with their approach. SAP also ensures diversity in its innovation programmes, empowering underrepresented founders to kickstart growth within the company.

Also read: Bringing global insights straight to you with Regional Meetup 2023

Innovation in 2023 will also see an increase in collaboration efforts, not just in quantity but also in quality. “If you look at the early days of the ecosystem, it started mainly with startups pitching to corporates and doing a demo. It then evolved to [becoming] a corporate-driven accelerator programme. And now it’s gotten into venture building, where corporates themselves work with organisations to build internal companies and spin them off into new startups that corporates take a stake in.”

What’s next for corporate-startup collaboration?

During the panel discussion in Echelon 2022,  Aaron encouraged startups to never stop innovating and to always share solutions that can help startup founders manage various situations, including the good, bad, and ugly. 

The real value of SAP lies in its support towards startup growth illustrated in two ways: by being a technical partner or by being a consumer of SAP’s tech solutions. SAP focuses on the value that startups bring, and how they disrupt markets and differentiate themselves through their products and innovations. “Startups can develop their IP, integrate with SAP solutions, and make their IP sellable”, Aaron shared. With this, startups that become tech partners of SAP can tap 440,000 customers across 180 countries.

If you’re a startup in the Southeast Asian region looking to tap into its global network, join SAP’s global ecosystem and get unparalleled access, curated mentorship, and technical guidance. To learn more, visit https://www.sap.com/sea/index.html and https://sap.io/startup-programmes/.

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Photo by Ketut Subiyanto via Pexels

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

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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Indonesian tech-enabled fitness startup Fit Hub has raised US$ 6.5 million in a new financing round.

The investors include Global Founders Capital, Trihill Capital, Goodwater, Wavemaker Partners, East Ventures, Gentree, and BAce Capital.

The capital raise will help Fit Hub expand its offline and online presence, offering free workout content and e-commerce for healthy foods, apparel, workout equipment, and supplements. The startup also plans to open 100 clubs by year-end.

Fit Hub digitises the fitness experience and develops community-driven fitness centres, catering to the rising middle class seeking quality equipment, accessible facilities, and a welcoming atmosphere.

Also Read: Fitness marketplace ClassPass becomes Unicorn with its latest US$285M fundraise

Since its launch in August 2020, it has expanded to 60 clubs across 14 cities in Indonesia, attracting over 50,000 paying members, half being first-time gym-goers. With an affordable of US$17/month, the startup aims to address a significant gap in the Indonesian fitness market where the average gym membership costs US$50/month.

B. Paul Santos, Managing Partner at Wavemaker Partners, said: “Fit Hub aims to address the increasing obesity rates in Indonesia, specifically among middle- to low-income households by democratising fitness. Their market positioning is distinctive, providing hyperlocal gyms that are both high-quality and 50 per cent more affordable than other options.”

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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.

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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 — and we’re heading first to Malaysia.

It’s happening at the WeWork Equatorial Plaza, Kuala Lumpur on Wednesday, 12 April. What to expect, you might ask?

The e27 MeetUp in Malaysia features a panel discussion with the topic “Southeast Growth Series: How can the Malaysia’s tech ecosystem grow sustainably and where are future growth drivers”, with our panelists Aaron Sarma, General Partner at ScaleUp Malaysia; Harmender Singh, Vice President Strategic Planning & SUPER PMO at Cradle Fund; Shian Lee, CEO at Alphaswift; and Mohan Belani, Co-Founder and CEO at e27.

Also read: Bringing global insights straight to you with Regional Meetup 2023

This event is an excellent opportunity to connect with the local tech startup community at Kuala Lumpur, share insights with experts and your peers, and potentially get free tickets to Echelon Asia Summit happening in June 14-15 at 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 Why you should cancel your plans and MeetUp with us in Kuala Lumpur appeared first on e27.

After months of submissions and hundreds of applications, we’re happy to share with you the these 10 startups who will be pitching their innovative solutions at the SAFE STEPS D-Tech Awards Virtual Pitch on 13 April 2023.

Click here to join the virtual pitch.

The 2023 SAFE STEPS D-Tech Awards has been launched to find, fund and support innovative tech solutions that can help protect and save lives, before, during and after disasters. The program is created by Prudence Foundation and supported by humanitarian partner: IFRC, technology partner: AWS, and strategic partner: e27, for its 2023 edition.

The SAFE STEPS D-Tech Awards recognises the crucial role of technology in enhancing disaster preparedness, recovery, and resilience. Climate change has led to more frequent and intense disasters worldwide, particularly in the Asia-Pacific region, where half of these events occur, resulting in staggering economic costs and human lives lost. Despite the pressing need for solutions, financial and non-financial support is lacking, hindering their potential for maximum impact.

Now in its third edition, the Awards looks to continue its work in catalysing a network of support, raising awareness of the sector, and helping the remarkable companies that operate in this space grow and scale.

The first 10 who will take part in the Virtual Pitch

LivingWaters Systems

LivingWaters Systems, or LivingWaters for short, is a social enterprise that specialises in assisting humanitarian organisations to serve refugees and off-grid settlements with renewable clean water, by providing them with an affordable, durable, and rapidly deployable means of provisioning clean water.

Its core innovation is a first-to-world portable rain catchment unit, through which by leveraging the world’s most abundant natural source of clean water — rainwater — LivingWaters can contribute to reducing 30-50% of an organisation’s water provisioning costs in the first five years of a refugee settlement’s operation, and then 60-80% of its annual operating costs thereafter.

Wateroam

Wateroam is a social enterprise which provides honest water solutions for a better world. Their vision to end global thirst is being accomplished by producing efficient and affordable water treatment products that are used for emergency relief and rural development. Specifically, their solution is The ROAMfilter Plus 2, a community water filtration system that is simple to operate, long-lasting, lightweight and cost-effective. The system’s hand pump operation requires no electricity, making it an ideal and immediate solution for rural and disaster-hit regions. With the ROAMfilter Plus 2, a person becomes a mobile water station which can produce safe drinking water quickly for 100 people.

Founded in 2014, the company has partnered with over 60 humanitarian organisations like the Red Cross and World Vision to tackle pressing water issues in emergency and long-term development settings in over 40 countries. They are also the UN Young Leader for SDG6: Clean Water for All.

StratifiCare

StratifiCare is a next-generation, ESG-focused (SDG 3, 5, 11, 12 and 13) medical diagnostic company that provides insights into the body through proteins. Their vision is to build a world where patients know in advance whether their medical treatments are beneficial to them. They achieve this by marrying predictive protein diagnostics with artificial intelligence. StratifiCare prides itself on the social impact they bring to patients, their families, and society; their gender, age, and nationality-diverse team; and that they are currently supported by Asia Development Bank Ventures and DBS Foundation.

StratifiCare has developed the world’s first severe Dengue prediction test, StratifiDen, which predicts severe Dengue with 97% sensitivity and 92% specificity. Doctors can make more informed decisions on whether to hospitalise the patient (most patients can be safely managed as outpatients). This frees up more hospital beds and limited healthcare resources for other patients who will develop severe Dengue, and for other patients who truly require hospital care.

QUICKBLOCK®️

QUICKBLOCK®️ enables anyone to build anything, anywhere. Made from 100% recycled plastic, their rapid assembly building system allows for complete structures to be assembled in a matter of minutes. Its simplicity is the key, stacking as simply as children’s building blocks, the QUICKBLOCK system requires no tools, skilled labour, or additional materials.

The QUICKBLOCK Shelter project aims to develop a full turnkey solution that arrives on a single pallet — including the structure, the roof, windows, doors, and flooring. They aim to support displaced peoples that have found themselves without a permanent dwelling as a result of fleeing their homes due to environmental disaster, conflict, or persecution.

A.B. Data Consultant

A.B. Data Consultant is a startup that specialises in flood disaster management, flood early warning systems, and tailored consulting for flood-related issues in Nepal. Their team of experienced environmental engineers, hydrologists, and software developers provide customised solutions to better understand flood risks, develop effective early warning systems, and prepare for and mitigate the effects of floods.

Their solution is FloodInsight, a service that develops flood susceptibility, hazard, inundation maps, and flood simulation videos. When required, FloodInsight provides physical installation of water-level sensors and rainfall measurement sensors.  An integrated website combined with real-time sensors and flood-related visualisation is used to disseminate information to relevant stakeholders. In the context of Nepal, the Government of Nepal is working on a national-scale flood map, but A.B. Data Consultant is focusing on tailored local flood consulting services at the municipal level which is in contrast, far more accurate and reliable.

Kacific Broadband Satellites Group

Kacific Broadband Satellites Group is a next-generation satellite operator providing affordable, reliable, high-speed broadband services. Its first Ka-band HTS satellite, Kacific1, was launched in 2019, covering over 600 million people across 25 nations in Asia Pacific. Kacific’s services foster greater internet usage, fuels economic growth, and drive positive social outcomes. Today Kacific connects over 2,000 educational and healthcare facilities.

Kacific has designed a disaster communication system, the CommsBox, for civil defence and emergency relief personnel. The CommsBox container is made of aluminium alloy and is salt, water, and fire-resistant. It is designed to be airlifted or shipped into disaster zones and provide instant connectivity. The unit is solar-powered and includes a user tablet for easy communication. The antenna has been designed with an auto-tracking feature and can provide connectivity at the touch of a button. The CommsBox is designed to be transportable, with four wheels fixed underneath, making it an all-in-one connectivity solution. The system is also equipped with high-speed data transfer and priority data, ensuring that the users have a first-priority connection with high speeds of up to 55Mbps. The CommsBox is durable enough to operate in the most difficult environments and can power up independently of electrical supplies, ensuring that the system will always be functional.

SI Analytics (SIA)

SI Analytics (SIA) provides the solution and platform for satellite image analytics based on artificial intelligence to domain experts in every nation and organisation to utilise their GEO assets with maximum efficiency and with wiser insights. SIA was established in Daejeon, South Korea in 2018 and has since grown to employ over 100 professionals. Their parent company, Setrac Initiative, is involved in satellite manufacturing, while SIA specialises in analysing high-resolution satellite images.

Today, the world is witnessing a multitude of natural disasters which require timely monitoring to minimise their impact. This is where satellites come in as they can provide real-time information about the location and magnitude of such calamities. Moreover, by employing deep learning-based techniques, SIA can predict the occurrence of such disasters beforehand and also evaluate the situation post-disaster.

H3 Dynamics

H3 Dynamics is a group of companies founded in 2015. H3 Dynamics is a multi-award-winning company and a fast-growing leader in the autonomous and sustainable aerial mobility market, using drone technology, hydrogen, artificial intelligence, machine learning, and robotics to deliver innovative solutions and high-value applications to a large number of industry verticals.

H3 Dynamics’ Autonomous Drone-in-a-box System has an open system architecture that enables third-party software and hardware integration such as command and control, UAV, and UAV charging. This enables totally autonomous UAV flights for multiple types of surveillance and inspection applications.

The Autonomous Drone-in-a-box System can be used to provide the first line of sight during critical situations. This can help customers/end-user detect, plan, and monitor the disaster situation.

Castomize

Castomize is making healthcare more accessible, effective, and less invasive through the creation of medical devices made with proprietary 4D-printing techniques.

Formed as a new spinoff from the Singapore University of Technology and Design, Castomize is now embarking to commercialise its first product, a series of 4D-printed orthopaedic casts, which has won multiple invention awards from organisations in the Asia Pacific region.

Castomize’s 4D-printed casts can be deployed in disaster situations easily, requiring minimal tools, time, and proficiency to apply effectively. They aim to quickly address fractures of disaster victims as quickly and accurately as possible, preventing any long-term healing complications and ensuring a smooth, full recovery.

Yayasan Plan International Indonesia (YPII)

Plan Indonesia develops a feedback dashboard to promote accountability to affected people during disasters. The dashboard is expected to be used as a channel for people to convey their issues and problem to be solved, responded to, and closed by relevant government agencies as well as non-government organisations.

Their programs aim to improve the fulfilment of rights for all children, which includes providing gender-responsive disaster preparedness and humanitarian response, which become one of our priority sectors for Country Strategy 5 (FY 23- FY 27). The Gender-responsive Disaster Preparedness and Humanitarian Response Program is divided into several sub-thematic focuses, i.e. Child Protection in Emergencies (CPiE), Education in Emergencies (EiE) and WASH in Emergencies (WASHiE). The programme’s goal is to meet the rights of the most affected children, adolescents, and youth (CAY) and their families affected by disaster and refugee crises through gender-responsive disaster preparedness and humanitarian response in a relevant and timely manner.

The 2023 SAFE STEPS D-Tech Awards

The startups taking part in the 2023 SAFE STEPS D-Tech Awards Virtual Pitch stand a chance to win 150,000 USD in cash prizes, AWS product credit worth 55,000 USD, and access to investor networks and mentorship. Finalists will be able to showcase at the Echelon Asia Summit 2023 at the Singapore EXPO on 14-15 June 2023.

Catch these amazing startups and more at the 2023 SAFE STEPS D-Tech Awards virtual pitch! For more information, visit the official page here.

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This article is produced by the e27 team, sponsored by Prudence Foundation

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.

The post Meet these 10 startups that are saving lives appeared first on e27.

In March, Malaysia-based Islamic fintech company du-it announced a crowdfunding campaign in collaboration with global Islamic crowdfunding platform Ethis Malaysia.

The campaign is meant to support the development of its B2B BNPL platform, which is dedicated to providing interest-free instalment solutions to businesses, particularly small and micro-sized enterprises (SMEs/MSMEs). It aims to raise a maximum total of MYR3 million (US$679,000) over the course of 90 days.

“With the funds raised through the campaign, we aim to bring our platform to more businesses in Malaysia, further develop our platform as well as expand our team across core business-growth roles, helping businesses access on-demand interest-free credit terms, and solving the pain points of today’s SMEs,” says Shafik Ali, Founder and CEO, du-it.

In an email to e27, Ali explains why the company decides to take the route of crowdfunding to support its mission.

“We have recently closed our fundraising round with several VCs and HNWIs. To further expand our core team and to scale in Malaysia we are raising via ECF, where we give the opportunity for the retail investors to join our journey at the same valuation at which our VC partners came in for,” Ali says.

Also Read: Innovation meets piety: How Netverse sets itself apart as a sharia-compliant metaverse

du-it for SMEs

du-it describes itself as a BNPL platform designed as a solution-based platform for SMEs and MSMEs in Malaysia, with a primary focus on their dealings with other businesses that require flexible payment options for their purchases, whether for capital expenditures (CAPEX) or operational expenditures (OPEX). The platform offers a credit limit of up to MYR50,000 (US$11,300) based on the client’s risk profiling and allows businesses to obtain approval within minutes.

According to Ali, currently, there are no similar platforms in Malaysia which apply the BNPL concept to B2B payments.

“However, if compared to other alternative SME financing platforms, we differentiate from the rest by not charging the SMEs any interest and also we offer a revolving credit which the SMEs could use as an on-demand credit line and when they need for their OPEX and CAPEX purchases.”

du-it is backed by Artem Ventures, 1337 Ventures, and individual investors from the Middle East and Malaysia.

The company implements a revenue model that works by this system: For every invoice submitted and approved via the du-it platform, it pasy the suppliers upfront minus a certain MDR (Merchant Discount Rate). Du-it then collects back from the SMEs at monthly intervals the original invoice amount via equal and interest-free instalments at the chosen duration.

Also Read: OUCH! secures funding to become a Shariah-compliant digital insurer in Malaysia

BNPL, halal version

For the uninitiated, one might wonder how a Shariah-based BNPL differs from a conventional one.

“Ultimately, a Shariah-based B2B BNPL strengthens the concept of BNPL further by not charging the SMEs who use our service any interest, which is strictly prohibited in Islam. Apart from that, in Shariah-based B2B BNPL also it is not allowed to charge unreasonable and compounding interest or charges for any late payments, which could further burden the SMEs,” Ali explains.

How does implementing this approach make a difference in how du-it is growing its business?

“First of all, the Islamic finance industry is growing rapidly and we look to capture this market with our unique offering by focusing on this niche. At launch, we would be the first Shariah-compliant B2B BNPL in the world and our future plans are to further expand into the Middle East market which has recently seen rapid growth with regards to their startup ecosystem and financial services,” Ali says.

Last but not least, the uniqueness of a Shariah-compliant fintech platform lies in its adherence to the Maqasid Shariah or the objective of Shariah.

“This can be defined as ‘the attainment of good, welfare, advantage, benefits and warding off evil, injury and loss for the people, planet and the community.’ Islamic fintech fundamentally needs to keep in mind that not only monetary growth is important, but also its business conduct must be aligned with these principles which set it apart from its conventional peers when it comes to making an impact and growing the startup,” Ali 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: du-it

The post How du-it aims to empower SMEs with its Shariah-based BNPL platform appeared first on e27.

Cross-border payments have long been a contentious issue across Asia, with the transfer of funds across borders expensive, slow and sometimes completely impossible.

After being flagged as a priority area by the regulators in several countries in recent years, an agreement was reached between the central banks of Indonesia, Malaysia, the Philippines, Thailand and Singapore to strengthen and enhance cooperation on payment connectivity in November last year, with the aim to enable more inclusive cross-border payments.

Despite the dire economic climate globally, fintech companies across Asia have seized on the opportunity presented by this increased international cooperation on cross-border payments, experiencing rapid growth in this space to the detriment of incumbent banks.

With agility and flexibility embedded in their DNA, fintechs are purpose-built to enable speed-to-market, respond rapidly to change, and foster innovation at all levels of business, and can often beat banks on pricing, speed, convenience, and product range.

So, how can incumbent banks compete with fintechs in the crucial battleground of cross-border payments?

Adopt a digital-first strategy

To compete with fintechs, banks must adopt a digital-first strategy and embrace next-generation technologies like cloud, AI, biometric authentication, blockchain and machine learning. These technologies are what make fintechs such a threat in the cross-border payments space, as it enables these nimble startups to survive on a super-lean budget and operate with agility.

Also Read: Alternative lending, payments dominated Asian fintech landscape in 2022: Report

Banks, which have the significant benefit of deeper pockets than most fintech startups, need to invest wisely in next-gen technology to streamline their operations, reduce costs and, most importantly, improve the overall customer experience.

Focus on customers

Fintechs use technology like data analytics and machine learning to truly deliver what their customers want and need, taking a genuinely customer-centric approach. Banks need to adopt this approach and focus on delivering a superior customer experience across all digital touchpoints, including providing hyper-personalised services, simple and user-friendly interfaces, and fast and efficient transaction processing.

Enhancing cyber-security and leveraging data analytics to gain insight into consumer behaviour can also help banks to meet the changing demands of consumers.

Capitalise on the SME market

Small and medium-sized enterprises (SMEs) – often referred to as micro, small and medium-sized enterprises (MSMEs) in Asia due to the proliferation of one- and two-person operations – are the backbone of the economy yet have not been seen as an important customer segment by many established banks for decades, often deemed too high-risk or not valuable enough to focus on.

However, banks ignore this customer segment at their peril, with the overall SME sector experiencing phenomenal growth in recent years, particularly as the digital economy has strengthened and consumer confidence in online transactions has risen. Fintechs have pounced on this segment, making enormous headway in the SME banking and lending space, with non-bank shares expected to rise to 17 per cent by 2024 from just five per cent in 2014 (McKinsey, 2023).

Also Read: How to recession-proof your business with payments

As more and more SMEs in Asia look to expand internationally, and cross-border payments become an even more crucial business need, banks should capitalise on the opportunity to offer innovative, all-in-one business banking solutions that encompass not only cross-border payments but also foreign exchange, lending, and other high-quality solutions. Banks, with the benefit of size, reputation and a large existing customer base, are ideally positioned to capitalise on the SME market by leveraging next-generation technology.

Think and operate more like fintechs

Many incumbent banks across Asia are coming to the realisation that they can’t continue doing what they’ve always done – they need to drastically alter the way they think and operate to compete against fintechs in this new era of digital financial services. Today’s consumers demand speed, agility and convenience from their banks and payment services, and maintaining the status quo is simply not an option if banks are to remain relevant.

Banks need to truly focus on the customer experience – with price and speed central considerations – if they want to retain market share and actively embrace new technologies and new ideas. Put simply, they need to think and act more like fintechs, leaving old ideas and – crucially – old technology behind.

It is those banks that embrace next-gen technologies and allow evolution in the way they operate that will be able to win the cross-border payments battle against fintechs.

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Next week, Web3 enthusiasts in Asia will participate in an event called DAO Tokyo which dubs itself the first DAO event on the continent. Held on April 13 at Kanda Myojin Hall in Tokyo, the event aims to foster the growth of the DAO community in Asia by creating awareness, encouraging the creation, and facilitating development.

The event was held with the background of Japan’s digital ministry effort to further understand the Web3 industry by issuing its intent to convert its Web3 study group initiative into a DAOs (in Japanese). The goal was to do a deeper survey on Web3 and its potential–to convince the government to invest further in Web3 technologies and systems.

This is the opportunity that Fracton Ventures aims to seize.

Founded in 2021, Fracton Ventures is dedicated to creating a thriving global Web3 ecosystem. Its mission is to provide support, guidance, and resources to entrepreneurs and projects while forging strong partnerships to establish Japan as a leading contributor to the Web3 and DAO communities. They also help to support the Web3 ecosystem through the content on its YouTube channel.

Since their launch, the company has run two successful incubation programmes, supporting a total of 18 projects. The incubator aims to continue developing and creating during the incubation phase.

Also Read: Strategies for success: Building a thriving Web3 startup

In an interview with e27, Fracton Ventures co-founders Naoki Akazawa, Yudai Suzuki, and Toshihiko Kamei explain why Japan is an ideal place for the programme despite challenges such as the language barrier and the lack of a crypto investor ecosystem.

“Japan has a high level of technological innovation, and its regulatory environment is favourable to the development of blockchain technology. Additionally, Japan has a large population of tech-savvy individuals who are interested in blockchain technology and its potential applications,” says Suzuki.

Fracton Ventures is looking for companies developing innovative solutions in the finance and cryptocurrency industries. The company is interested in projects that have the potential to create public goods protocols and expand the ecosystem. It is also looking for entrepreneurs who are passionate about their projects and willing to work hard to achieve their goals.

To join the programme, companies must have a strong team and a clear vision for their project. They must also be willing to work hard and be open to feedback and guidance from the incubator. Additionally, companies must be willing to contribute to the public goods ecosystem and create protocols that will benefit the entire industry.

In the interview, Fracton Ventures also discuss the up-and-downs of the crypto industry and how they prepare their companies to deal with it.

Also Read: DEFED and DeFi: Making it easier to migrate from Web2 to Web3

“The crypto industry is known for its volatility, and companies in the industry must be prepared to deal with the ups and downs. Fracton Ventures prepares companies for the volatile nature of the industry and helps them develop strategies to mitigate risk. The incubator also helps companies navigate the regulatory environment and comply with local laws and regulations,” explains Kamei.

In addition to the major event, Fracton Ventures plan to focus on incubating and creating public goods innovation on a global level this year, with the help of global partners. The programme aims to create a community around the Asia region and bridge the gap between DAO East and DAO West.

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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: Fracton Ventures

 

 

 

 

 

 

 

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The collapse of cryptocurrency exchange FTX and Singapore-based fashion startup Zilingo involving financial fraud and corporate misconduct are just two examples demonstrating how lax corporate governance is a recipe for disaster.

As investors and regulators ramp up scrutiny and shift to a zero-tolerance stance on fraud and corruption, startups will need to get the balance right between growth and governance.

Founders should understand that corporate governance is a strategic tool that delivers value rather than being an inconvenient process that will stagnate growth. Communication is a vital component of good corporate governance and will help boost overall investor confidence. This will, in turn, facilitate fundraising, particularly when corporate goals are aligned with the interests of the board, management, shareholders and other stakeholders.

Implementing governance best practice means protecting the interests not only of the company’s shareholders but also of other stakeholders, including employees, customers, vendors and communities.

A good approach is to incorporate five core principles:

• Transparency
• Accountability
• Impartiality
• Awareness
• Responsibility

Since a “one-size-fits-all” approach cannot be applied to companies at different growth stages, we have outlined below the key actionable steps for startups to kickstart their corporate governance journey.

 Early venture – Establishing core values from day one

 A strong culture and set of company values should be the cornerstone for any business at the start of its venture journey. Typically, this is the point where the firm lacks adequate capital and must build its customer base and focus on revenue and business growth.

In this instance, key stakeholders are limited to the management team and founding team – the early employees of the company. The initial board of directors is formed when the company is incorporated, usually represented by the founder or co-founders.

It is vital that everyone is aligned in terms of expectations, values, and measurements of success. It would be useful to create a Code of Conduct Handbook, thus providing practical guidance to everyone in the company on how to ensure compliance with corporate governance principles.

Ensuring fairness across all aspects of the business with clearly defined roles and responsibilities for each team member is key, as is their duty of care to make decisions that are financially, ethically, and legally sound.

Also Read: Velocity Ventures to back distressed hospitality & travel startups with the new US$20M fund

At Velocity Ventures, we incorporate ESG metrics when evaluating startups, considering risk management factors, as well as assessing the founders’ willingness and commitment to adopt strong ESG practices.  Additionally, to encourage our portfolio companies to be forces of change, we have a quarterly ESG scorecard that is mapped to the UN’s 17 SDGs (Sustainable Development Goals).

We work alongside founding and management teams to implement and develop an ESG strategy and ensure that there is robust and effective decision-making through processes, practices and policies.

Transition stage – Seek guidance from an advisory board

 Usually, after the first year of operations, founders should consider enlisting external help from industry experts. At this stage, it is important to ensure that founders are not bogged down with business processes that will impede the firm’s growth trajectory towards pre-seed/ Series A but, at the same time, build the foundations for a strong governance framework.

Forming an advisory board and inviting industry experts who are accomplished in their respective fields is a good start. Advisors need to be able to see the big picture and provide third-party perspectives.  Look for individuals that can challenge and test their thinking, have a strong network, industry knowledge and plenty of experience to help solve business problems.

Typically, advisory board members do not have the authority to vote on corporate matters or get involved in day-to-day operations, but they can act as an extension of the company’s leadership team. By overseeing organisational performance, risk management, and profitability, they can help ensure startups stay on track with good corporate governance.

Remuneration for board members can be based on a fee for each meeting attended, or an annual retainer can be agreed upon, depending on the level of engagement. Sometimes, equity may also be offered if the individual advisor provides access to their expanded professional networks of potential customers and investors.

Scaling up – Form a board of directors before raising seed capital

As the company grows and needs to fundraise, founders should set up a formal board of directors and appoint at least one independent director. A corporate governance roadmap and board terms of reference should be implemented.

Key areas of focus of the board will include:

• A critical review of past and forecast performance
• Strategy and risk
• Corporate Culture
• Social responsibility for ESG matters
• Human capital and workforce engagement
• Fundraising
• Crisis management

While it may be useful to have a board that can support fundraising initiatives as a high-profile industry veteran to help drive business growth, it is equally important to have experienced individuals of a specialised industry who can provide organisational stewardship in doing the right thing.

Boards of Directors have oversight responsibility to mitigate the risks of fraud or misconduct. They do so by monitoring the company’s business operations and ensuring management prioritises the startup’s social, environmental, economic and financial impacts.

Boards of Directors are subject to a wide scope of fiduciary duties, which means they are bound legally and ethically to always act in the best interests of the company. This would include a no-conflict rule, and directors are legally liable if they intentionally or negligently cause the company to incur financial losses or become bankrupt.

Members of the board of directors have voting rights and even have the power to remove the CEO or replace the management team. To avoid a conflict of interest, the Chairperson of the Board should be an Independent Director and not be an executive of the company.

At Velocity Ventures, we value the balance of representation on the board and like companies that have at least one independent director and one investor representative director.

The duties of the Chairperson include running meetings efficiently, deciding on the agenda of the meeting, and mediating between investors and founders in the boardroom.

Also Read: Velocity Ventures invests in CarbonClick that makes carbon offset simple for businesses

We highly recommend that startups formalise the scope of responsibility of the board of directors with a Terms of Reference (TOR) document where key roles, functions and processes of management and the board are listed clearly. This will ensure business continuity implementation and helps the company to be more adaptable and effective when responding to both crises and opportunities.

It is important to set up a schedule for board meetings where the management team will update board members on the company’s financial and operational performance and make full disclosures regarding potential conflicts of interest or risks to shareholders and other stakeholders.

Usually, board meetings are held once every quarter, and the information provided needs to be timely, accurate and clear. If there is a circumstance where business decisions need to be made urgently, an ad-hoc meeting may be convened. We emphasize the need for good reporting with our portfolio companies because transparency is of utmost importance for good governance, and full disclosure of all relevant information can help shareholders and management make informed decisions.

Velocity Ventures takes an active role in supporting our portfolio companies and will usually request to be one of the board members, participating in strategic company decisions that will impact performance, growth, and profits. However, we don’t sit on every board of all our portfolio companies. Where we do not hold a board seat, we work with other majority investors to nominate one investor director to represent the interests of investors.

Incorporating corporate governance is not always a smooth process for startups, as administrative policies may get in the way of your firm’s hyper-growth path. However, by prioritising corporate governance, founders build a platform for future growth, and it will allow the company to attract better valuations and a larger pool of investors.

The investment team at Velocity Ventures has created a Corporate Governance Playbook (Infographic) that provides a quick overview of activities that should take place in tandem during different growth stages.

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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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