Following the stellar success of the first two editions of 9Unicorns’ Demo Days (D Days), 9Unicorns and Venture Catalysts is launching the Third Edition of DDay.

DDay 3, which is scheduled on April 18, 2023, will offer 20 exceptional startups led by disruptive entrepreneurs a chance to showcase their vision to over 1500 global investors including prominent Venture Capital Funds and Family Offices. These startups have the special opportunity to gain global exposure from these investors during the event.

“DDay is a great opportunity for startups to connect with investors worldwide and showcase their offerings. This helps startups gain international exposure and build further rounds for growth. The first two DDays we hosted in the past two years have been a huge hit, with our presenting portfolio companies subsequently raising over USD 360 million. We expect the third edition to be a great success for investors and startups,” shared Dr Apoorva Ranjan Sharma, Managing Director & Co-founder, 9Unicorns and Venture Catalysts.

India: home to one of the most vibrant startup ecosystems in the world

India boasts the world’s third-largest startup ecosystem with over 80,000 startups officially recognised. Despite a slowdown in 2022, the Indian startup ecosystem continues to thrive. According to a recent NASSCOM report, India added the second-highest number of Unicorns in the world in 2021. More than 23 unicorns were added in the calendar year 2022, and it is expected to grow these numbers significantly over the next few years.

Also read: These 6 startups are among this year’s frontrunners for TOP100

A few of 9Unicorns and Venture Catalysts recent success stories include – VideoVerse, an AI-based SAAS video editing suite for businesses, raised an impressive $46 million in funding led by A91 Partners. BluSmart, a ride-hailing company for electric vehicles, also raised $25 million. Another company that did well was Rooter, a leading platform for gaming and esports streaming, which raised $25 million. Additionally, two of their seed-stage companies, Cusmat and Algobulls, have also received funding. Algobulls is an AI-powered Algo trading platform, while Cusmat, which recently secured funding from Arkam Ventures, operates in the skilling metaverse.

Previously, global VCs including Sequoia, Symphony, Creation Investments, Tiger Global, WestBridge, Accel, Insight Partners, Lightspeed, SoftBank & 75+ global funds have co-invested in Series A rounds of their portfolio. Those companies have become category leaders & Unicorns, like OYO Rooms, BharatPe and the next upcoming category leaders.

Supporting startups beyond capital

“DDay 3 is an opportunity for investors to have a first-hand look at handpicked startups and products that are disruptive, innovative and seeing significant growth across the Indian ecosystem”, Dr Apoorva Ranjan Sharma added.

Also read: Industry giants helping make Echelon Asia Summit 2023 possible

9Unicorns, India’s first Accelerator VC, and Venture Catalysts, India’s largest angel fund, launched the first edition of DDay in 2021. Over the past two years, over 1,200 global VCs and family offices from over 20 countries have participated in the DDays hosted by 9Unicorns & Venture Catalysts, leading to significant added value in their respective businesses.

Join DDay on 18th April 2023. Visit their official page here.

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This article is produced by the e27 team, sponsored by 9Unicorns

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The cultured meats industry has grown rapidly over the past few years, making significant strides within the Asian continent. Although Asia was not the first region to invest in cultured meat research, scientists and technologists have worked hard to make cultured meats a viable alternative to conventional meat products within the region.

Despite there being no current market for cultured meats, it is an area of great interest as various governments recognise that future food sustainability needs to be front and centre as we develop our economies and adapt our lives for a more sustainable future.

The adoption of cultured meats in our future depends on multiple layers of technology and regulations, as early research does show that there is demand and interest from consumers. One area of strong interest within Asia is cultured seafood.

With 90 per cent of the population in Japan, South Korea and Singapore consuming seafood and multiple cultures’ traditional meals centring around it, this market is a key area for the future of cultured meats in Asia.

The potential for the cultured meat market is still large, with predictions of the industry reaching a value of US$25 billion by 2030. Cultured seafood is expected to grow the fastest due to its high demand and projected lower cost to produce.

Also Read: Umami Meats secures US$2.4M seed funding to scale its cultivated seafood business in Singapore

Despite the potential, only a handful of companies have appeared to explore this segment, with Umami Meats — who recently went through the Rainmaking Expand programme — leading some of the efforts and research in the region.

Cultured meats in Asia — The growth, the challenges

Within Asia, we are seeing the growth and development of cultured meats, with news outlets rapidly increasing their coverage of activity in this space. Although Cultured Meats did not begin in the region and are only seeing five per cent of the total global funding, the industry found a home in the Asian markets.

Surveys within Asia have shown that there is a strong interest from consumers for the option of cultured meats to be available to them, indicating that there is a great opportunity space for companies in the market. It is important to note, though, that there is currently no market for cultured meat. Hence its demand cannot be precisely assessed but only forecasted.

While the demand may exist, it is clear that the governments will need to lead the shift towards offering alternatives in the market by laying down the framework for the policies and regulations around the space.

Governments have been showing interest in cultured meats. Singapore has implemented a ’30 by 30′ initiative where they aim to produce 30 per cent of nutritional needs locally and sustainably by 2030. This initiative has enabled and accelerated the cultured meats market, driving more companies to Singapore to leverage the opportunities created.

Furthermore, South Korea’s Ministry of Food and Drug Safety plans to lay the foundation for alternative proteins, including cultured meat, by 2024. This has triggered multiple companies in the market to accelerate their research and production capability so that they may be among the first movers in the market.

However, despite the progress being made around Asia, the regulations still have a long way to go before we see cultured meats regularly sold in our local supermarkets. This has not hindered the development and evolution of the cultured meats space, which has continued to iterate on its products, redevelop the growth serum to more affordable and sustainable options and even work on developing the ecosystem around the technology.

Umami Meats and their role in developing the ecosystem

Umami Meats, a cultured seafood startup from Singapore, is developing CultivateOS, a modular, standardised, automated production platform for cultivating cultured, ‘not caught’ seafood for species that are at risk of extinction, considered delicacies, and have no sustainable alternative to increase production.

Umami Meats has been gaining interest and rapidly growing as it now aims to establish its pilot facility in 2024 and to have its products within 10% of the market price upon launch. By focusing on enabling technology, they have collaborated and built connections throughout the industry to grow the ecosystem’s adoption of cultivated protein while raising awareness of the importance of sustainability.

“Our strategy is very much focusing on developing enabling technology and then partnering with traditional food manufacturing and fishing companies to bring these products to consumers.” Shared Mihir Pershad, CEO of Umami Meats. Although the concept seems rather straightforward, this is a sign of the cultured meat industry shifting.

When we look at the first generation of cultured meat companies, we recognise that they had to build up the entire value chain by themselves, as possible collaborators and supporters did not exist in many capacities for the space at the time.

But as the industry matures and heads towards commercialisation, the space is seeing an increase in participation by traditional players spanning the entire value chain. Pershad highlighted that it is incredibly important to knit these different players together and connect them with the existing food industry supply chains in order for the industry as a whole to achieve success.

By getting involved with various players within the ecosystem and by developing a tech layer that other companies can utilise to develop their own production facilities and branded products, Umami Meats aims to evolve the cultured seafood industry that we currently know into a highly networked ecosystem that enables more effective collaboration, cross-communication, and commercial development.

Furthermore, Umami Meats has been exploring Asian markets beyond their local Singapore. The company is talking with potential partners in South Korea, Japan and more and is contributing to the evolution and development of the regulator’s understanding of the space in hopes of providing the needed information for policies and regulations to be introduced.

Also Read: No animals were harmed in the making of this ‘meat’ burger

As the process of launching a new category is incredibly complicated, Umami Meats has been in discussion with key players in the respective markets, understanding their vision of the cultured meat space and guiding their understanding. They aim to power the industry’s adoption of cultivated production in order to enable the growth of a new category of cultivated and hybrid products.

Changing the landscape for cultured meats in Asia

As the region has seen strong and urgent demand for alternative proteins, cultured meats have rapidly evolved as a result. Asia now stands as one of the leading regions for its development and multiple companies are diving into various aspects of the value chain, evolving and iterating upon it as they prepare for commercialisation.

It is the startups and other key players within the food tech market that are at the root of the changing landscape for cultured meats. After what can be considered the first wave of cultured meats companies’ success stories with Mosa Meat, Upside Foods and Eat Just, the space has opened up further to dive into what a future with cultured meats can look like.

Over the last couple of years, Asia has seen an increase in Government-Startup, Startup-Research and Startup-Corporate collaborations to take the next steps for the evolution of cultured meats.

The South Korean government has been supporting cultured meat companies such as KCell Biosciences to grow and refine their research with CJ CheilJedang to be at the forefront of South Korean cultured meat solutions while the government regulatory board develops the needed regulations for public sale.

Meanwhile, corporates in Japan are working together with startups in the region, exploring how their current facilities could be utilised to accelerate and scale up the production of cultured meats as commercialisation becomes more realistic in the following years.

Lastly, the Singaporean government has been leading the region in cultured meats by being the first country in the world to allow for its commercial sale. Until now, only one company has been granted the right to sell cultured meat for public consumption, but these are only the first stepping stones to a sustainable, new meat future.

As all these different players start moving into the cultivated space, Umami Meats has been in conversations with multiple layers within the ecosystem, making sure that they have built the network to develop excellent cultivated products for each country and have the production value chain established and ready to launch as soon as the regulatory frameworks allow.

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Malaysia’s Gobi Dana Impak Ventures (GDIV), a fund recently launched by pan-Asian VC firm Gobi Partners, has announced an investment in Care Concierge.

Care Concierge will use the funding to create innovative and digital solutions in senior living care.

Care Concierge was founded in 2017 by CEO Martin Yap and COO Justin Yap. The startup helps families navigate the complexities of finding the right senior care solution for their loved ones across its various home care, residence care, day care, and shop care services.

Care Concierge is one of six winners of the Khazanah Impact and Innovation Challenge 2021, with the prize being a grant worth US$66,000.

Also Read: Gobi Superseed II Fund invests in Durioo+, Lapasar, Paywatch, pitchIN

GDIV is a part of the Future Malaysia Programme, an initiative announced early this month under the Malaysian sovereign wealth fund Khazanah’s Dana Impak. Dana Impak aims to support the local startup ecosystem of entrepreneurs, startups, VC, and corporate venture programmes through collaborations with domestic and international partners, such as Gobi Partners.

The investment into Care Concierge fits the fundamental objective of Dana Impak, which is to invest in catalytic sectors to increase Malaysia’s economic competitiveness and build national resilience.

According to a report by the UN, Malaysia is expected to become an ageing society by 2030, with more than 15 per cent of the population aged 60 years and above. One of the key challenges associated with ageing is providing healthcare services to the elderly as they are more susceptible to chronic diseases and disabilities, which require specialised medical care.

Gobi Partners is a pan-Asian VC firm with US$1.5 billion in assets under management. Headquartered in Kuala Lumpur and Hong Kong, Gobi has raised 15 funds to date, invested in over 350 startups and nurtured ten unicorns.

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In January, the government of Thailand signed a memorandum of understanding with Japan in a move aimed at boosting Japanese investors’ confidence in the potential of Thailand, as well as enhancing Thailand’s competitiveness and promoting collaboration between Thai and Japanese small- and medium-sized enterprises (SMEs).

It follows an earlier pledge by Japan last year to expand investment in Thailand, especially in high-technology industries; my own observations have been that Thailand’s corporate culture is still grappling with paper-heavy back-office operations that can and should, be fully digitised.

More Japanese tech firms are following the lead from both governments, with our own company Sansan, a technology leader listed on the Tokyo Stock Exchange, bullish on the potential of Thailand as an attractive market within the wider Southeast Asia region for business growth.

To that end, we recently opened a rep office in Thailand and are considering further expanding our operations there from our regional headquarters in Singapore and recent development centre opening in the Philippines. 

We see Thailand’s growing digital economy, existing Japan-Thailand business links, and the government-backed push on digital as three reasons for the big opportunity for Japan’s tech leaders more broadly, with many traditional Japanese multinationals already operating in Thailand.

Also Read: How Hungry Hub survived the pandemic to become a leading player in special occasion dining in Thailand

This is all part of the long-term trend of global tech firms trying to capitalise on the rapid growth of Southeast Asia and its population of nearly 700 million, with Singapore serving as a springboard for companies like ours into regional markets like Thailand.

Thailand’s growing digital economy

Thailand’s digital GDP reached ฿2 trillion baht (US$57 billion) in 2021 after posting year-on-year growth of 14.1 per cent, according to a study by the Office of the National Digital Economy and Society Commission released in November 2022. 

Digital GDP made up 13 per cent of the national GDP in 2021, up from 11.8 per cent in 2020, which put it on par, if not higher, with the United States on a percentage basis. 

By comparison, the US digital economy added US$2.4 trillion in value to the overall US economy in 2021, up from US$2.17 trillion the previous year (on a total US GDP of approximately US$23 trillion the same year).

We believe that digitising back-office paper in Thailand, specifically the corporate invoicing infrastructure, represents a major opportunity for technology providers able to gain an early share of that market as Thailand transitions to a more digital economy. 

Existing Japan-Thailand cooperative business links

There is a long history of cooperation between Japan and Thailand with diplomatic relations first established in 1887; today, more than 5,800 Japanese companies are operating in Thailand, mostly in traditional industries such as shipping, maritime, and logistics but increasingly in high-tech sectors as well.

About 16 per cent of all direct investment in Thailand is coming from Japan, based on 2022 figures released by Japan’s Board of Investment, which is larger than that of any other country.

Thailand’s Commerce Ministry in January revealed that the Japanese were the top foreign investors in Thailand last year, with the top five sources of foreign investment coming from Japan (151), Singapore (98), the United States (71), Hong Kong SAR (40), and China (31).

Going back to 2021, the two countries set out their Five-Year Joint Action Plan on Strategic Economic Partnership (2022-2026), cementing mutual cooperation on a range of economic initiatives, including technology.

Also Read: How SMBs can use conversational commerce to boost year-end sales

Because of these long-standing cultural links, my observation has been that many Japanese businessmen and women are comfortable visiting and living in Thailand – I, too, have been spending much more time in Bangkok over the past few months as we look at ways to expand further into the country. 

Government push for digital

The third reason we are bullish on Thailand as an overseas expansion market is due to the government’s ongoing work on a new digital economy policy formulation aimed at ramping up national development efforts in sectors including technology. 

For example, the Digital Economy Division Office of the National Digital Economy and Society Commission announced its 2023 Thailand Digital Outlook Study Project a few months ago, which will analyse the overall policy development of the country’s digital economy and innovation. 

As an actionable policy and roadmap, the commission will recommend practical measures to guide and develop the digital economy and society.

Japanese technology firms see the current moment as a good window of opportunity to put a flag in the Thai market and begin the hard work of supporting both international and local customers there – as well as winning new ones.

With companies like Apple now moving supply chains out of China and into Southeast Asian markets such as Vietnam, we think it is only a matter of time before the whole region is more firmly on the map of some of the largest technology companies in the world.

Markets like Thailand stand to benefit, and so do the companies who get a head start there this year.

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Simon Ma is the Managing Director (ASEAN HK TW) at Freshworks.

He’s a goal-focused sales management leader with 12 years of experience in driving growth in sales and revenue by managing customer relations and the acquisition of new accounts.

Prior to the appointment, Ma was the Regional Sales Director for ServiceNow, where he hired, coached, and oversaw business growth across Southeast Asia.

Ma regularly contributes articles for e27 (you can read his thought leadership articles here).

In this candid interview, he talks about his personal and professional life.

How would you explain what you do to a five-year-old?

Freshworks makes business software people love to use. It allows businesses to have a simple and friendly way to talk to their customers and employees to help solve issues quickly.

The ultimate goal that my team and I at Freshworks put ourselves behind is to help businesses remove the most pressing obstacles that they may have in achieving an engaging experience for their employees and customers.

Like what I tell the toddler at home, “Daddy’s work is to help your friends’ daddies and mummies so they can spend more time at home and play with their kids.”

What has been the biggest highlight/challenge of your career so far?

COVID-19 was a challenging period for a lot of businesses. Companies transitioned to a WFH environment and had to keep businesses going while grappling with a widespread pandemic.

Also Read: Always be adventurous and inquisitive: Carl Jones of SAP Concur

On a personal front, each of us was dealing with challenges at home and in our daily lives.  My first priority was to ensure that each of our team members had a safe environment to operate in and make sure that they had access to proper support in case of emergencies.

Our other priority was to keep employees engaged, collaborating, and ensuring resilience in business operations. Staying close and checking in regularly with one another was critical. Everyone had different situations at home, and it was vital that we all understood and worked around each other’s family situations to tide through.

We also found that providing employees with systems that reduced operational work through automation provided us with a way to build resiliency in operations. Many tasks are now automated, and even if some of our team members were on medical rest during COVID-19, we could keep the operations going. This also allowed our employees to focus on high-value work that yields more impact.

How do you envision the next five years of your career at Freshworks?

Asia is a fast-growing region with a massive population of digital native youths. There will be continued strong consumer demand for digital services, and being able to cope with this demand is also where organisations are investing in. With the current macroeconomic headwinds, organisations are also looking to cut costs while coping with rising demands.

Freshworks is well poised to help organisations by delivering great value and managing costs. Our goal is to build a business that has our customers front and centre, and part of that is investing in a team close to where our customers’ businesses are located in Asia.

What are some of your favourite work tools?

Freshservice! In our business, we need to actively collaborate with team members globally to help solve our most pressing day-to-day business concerns.

Also Read: The challenge for female leaders is to get their voices heard: Lisa Gibbons, Blockchain Advocate

We leverage Freshservice in our 5,000-employee-strong company to ensure that we can quickly track and resolve cross-functional issues for our employees from different departments like IT, Finance, HR, and legal. This elevates our team and allows us to focus on the top business issues in our organisation.

Do you prefer WFH or WFO, or hybrid?

Hybrid work is here to stay because it allows for more flexibility and global access to a larger workforce. For hybrid work to be successful, the right culture and process are critical because there will be a need for cross-geography and remote collaboration. It is also essential to leverage modern tools for employee experience to enhance the desired culture and process.

What would you tell your younger self?

Get involved in your interests, pursue them, and engage in more side projects outside your usual work/school. Meet more people and understand who they are/what they do, we live in a fast-paced, changing world, so take more action and be curious about the world.

Can you describe yourself in three words?

Curious, dynamic, and engaged.

What are you most likely to be doing if not working?

I have received excellent advice from the various mentors I have had in my life, and therefore I make it a point to mentor students or young professionals starting their careers. I also lend my time to consult with startups who are new to the market. These activities keep me engaged and fuel my curiosity about the ever-changing world.

What are you currently reading/listening to/ watching?

Five Dysfunctions of a Team by Patrick Lencioni.

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Join the e27 contributor community of thought leaders and share your opinion by submitting an article, video, podcast, or infographic.

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As the marketing landscape continues to evolve at breakneck speed, brands are searching for new ways to stand out in a crowded and competitive space. At the same time, consumers are demanding more from the brands they engage with, including a greater focus on sustainability, social responsibility, and ethical business practices.

According to a report, 85 per cent of people globally have shifted their purchase behaviour towards being greener, suggesting a demand for brands to go sustainable.

However, companies may resort to greenwashing which can be harmful as it misleads consumers and undermines genuine eco-friendly companies. And this in turn reduces the impact of informed consumer choices.

In this context, blockchain technology has emerged as a powerful tool for brands seeking to create campaigns that are not only effective, but also socially conscious. By leveraging the unique features of blockchain, brands can create campaigns that are more trustworthy, engaging, and impactful than ever before.

This emerging trend, dubbed “marketing for good,” represents a seismic shift in the way that businesses approach marketing, and has the potential to reshape the industry in profound ways.

Also Read: The challenge for female leaders is to get their voices heard: Lisa Gibbons, Blockchain Advocate

Confronting the challenges of marketing

With competition for buyer attention and brand awareness at an all-time high, it has become difficult for brands to cut through the noise and reach their target audience.

Emphasising the hurdles that marketing faces, Jason Sibley, Founder and CEO of Cleo points out that “with the rise in digital marketing spending and the importance of data, CPM (cost per thousand impressions), CPL (cost per lead), and CPA (cost per acquisition) are constantly increasing. Companies are facing steep competition in the digital era where viewer attention span is extremely valuable.”

Moreover, in recent years, traditional marketing has failed to deliver quality ads that resonate with the audience. Consumers often find themselves bombarded with irrelevant or repetitive content. Time spent viewing ads may not be rewarded efficiently, and the outcome of ad consumption may not always be in the best interest of the consumer.

A study suggests that consumers tend to ignore brands that fail to deliver relevant advertising. Almost 49 per cent of consumers admitted that they would disregard a brand if they perceive its ads to be irrelevant or if they are bombarded with too many ads. The study also revealed that 36 per cent of consumers are more likely to buy from brands that send them personalised messages.

A win-win approach to sustainable marketing

Acknowledging the challenges, brands are recognising the call for a new approach to marketing, one that aligns with the values of both brands and consumers.

“Cleo’s data-driven approach to marketing rewards users for their time and attention. By engaging with a brand’s marketing campaign, users are rewarded with a ‘good’ performed, that is verified on the blockchain and presented with an on-chain digital completion certificate. So their attention and actions contribute to promoting sustainability and social responsibility,” says Sibley. The platform empowers a variety of “for good” causes, such as removing plastic from the ocean, planting trees, or offsetting carbon footprints.

Also Read: Understanding the role of fintech, blockchain in transitioning to net zero

Through Cleo, brands have the opportunity to optimise their campaigns with compelling content while lowering cost per acquisition. Users on the other hand benefit from sustainable rewards that promote environmental changes for the planet. By offering consumers with tangible benefits for engaging with branded content, businesses can improve the quality of their ads and build stronger connections with their target audience.

How blockchain is disrupting the marketing domain

As the sustainable marketing industry continues to experience growth and evolution, the pivotal role of blockchain technology becomes evident. It represents a transformative force in the industry by enhancing transparency and accountability for all stakeholders involved.

The Cleo platform is an example of how blockchain technology is being utilised to promote sustainable marketing practices. By working with companies like Second Life, a Verra-certified ocean plastic recovery and recycling project, Cleo is taking an active role in reducing the 150 million tons of plastic that is polluting the ocean.

When users engage with a brand’s content through Cleo, they are making a tangible contribution to the betterment of the environment. Cleo rewards these contributions in the form of NFTs, which serve as digital certificates of “doing good” for the environment. This provides verifiable proof and bonds a stronger sense of purpose for users who care about sustainability, and in return are digitally recognized for making a positive ESG impact.

Cleo is built on Polygon blockchain, a highly scalable and efficient blockchain network with over 130 million unique addresses and over three million daily transactions. Polygon provides the technological layer for a secure, fully transparent, and auditable network that is vital for a sustainable marketing platform.

This provides brands with confidence that their marketing campaigns are in compliance with ESG and SDG principles, while users are assured that their contributions to the environment are digitally recognised.

The Outlook

Blockchain is increasingly being used as a tech layer to enable sustainable platforms. It rewards consumers for their time and attention while promoting positive impact for the planet.

As sustainable marketing becomes more prevalent, it could have a significant impact on society and the planet, aligning business goals with broader societal objectives. These developments mark a new chapter in the marketing landscape fueled by the advantages of blockchain technology.

 

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The content was first published by The Human & Machine.

Image Credit: The Human & Machine

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Singaporean rocket company Equatorial Space secures US$1.5M funding led by Elev8.VC

Singapore-based rocket company Equatorial Space Systems has raised US$1.5 million in a seed round led by Elev8.VC.

SEEDS Capital, the investment arm of Enterprise Singapore, and Masik Enterprises, also joined.

Equatorial Space is a rocket propulsion and space launch startup focused on enabling space access at greatly reduced risk, cost and environmental impact compared to incumbent solutions.

Besides its headquarters and principal R&D facility in Singapore, the company has a presence in the US and Australia.

Also Read: From aerospace engineer to building Google’s first int’l presence to cross-border investing

The funding will be used to develop Equatorial Space Systems’s Dorado commercial-sounding rocket family. It will provide low-cost space access for science experiments, technology demonstrators and academic payloads.

The Dorado will be propelled by a hybrid rocket motor using a combination of chilled Nitrous Oxide (cNOX), and a proprietary, patent-pending solid fuel formulation known as HRF-1AL, which delivers a high regression rate, high density and flight-proven structural integrity. The propellant combination is also non-toxic and low in greenhouse gas emissions. The first launches are slated for mid-2024.

“Equatorial Space Systems’s breakthrough in rocket propulsion holds the potential to lower barriers related to safety, cost, and sustainability that have traditionally impeded the adoption of space technologies. These advances will play an important role in developing other space technologies in Singapore and add to the vibrancy of Singapore’s innovation ecosystem,” said Tan Kaixin, General Manager of SEEDS Capital.

Elev8.VC is a Singapore early-stage VC fund investing early in technologies of the future and founders that create emergent industries with a global impact.

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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.

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Baskit, which provides technologies for wholesalers and distributors to make supply chains more efficient in Indonesia, has raised US$1.5 million in pre-seed funding.

Forge Ventures led the round. Sketchnote Partners, DS/X Ventures, Prasetia Ventures, and undisclosed global and regional angels also participated.

The startup will invest the capital in strengthening its technology and team.

Baskit was founded in 2022 by Yann Schuermans (CEO), Yoonjung Yi (Head of People and Communications), and Yasser Arafat Akhmad (Head of Technology).

Also Read: 5 smart ways to decarbonise supply chains and logistics with AI

In Indonesia, traditional distribution chains are often ineffective in their middle layers, driving many inefficiencies, including product stock-outs, lack of data visibility, and supply chain losses from expiry. Baskit aims to strengthen the distributors and wholesalers of these layers with commercial support and technology.

The firm sees opportunities to positively impact communities, including serving rural consumption better and promoting financial inclusion across previously unbanked distribution businesses and merchants.

Baskit claims it has experienced explosive growth since its official launch in November 2022, doubling in size month-on-month.

Its other backers are Shafie Shamsuddin (Chairman of Petronas), Reynold Wijaya (Founder of Modalku), Ankit Sethi (COO of Fung Investments), and APAC Foodpanda/Delivery Hero Leadership (Jakob Angele, Pedram Assadi, and Arun Makhija).

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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.

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Ever since the COVID-19 enforced lockdowns compelled educational institutions around the globe to radically alter the way they teach and engage their students, the hybrid learning model has been gaining traction worldwide. Combining elements of face-to-face classroom instruction with online teaching, this method of teaching has taken off, with more and more schools delivering online programmes.

According to a McKinsey report, the number of learners reached by massive open online courses (MOOCs) – online courses with video for many participants at the same time – increased from 300,000 to 220 million from 2011 to 2021. The number of hybrid and distance-only students at traditional colleges rose by 36 per cent between 2012 and 2019, and in 2020, COVID-19 sharply accelerated that rise by an additional 92 per cent.

Several variables have influenced the broad acceptance of hybrid education. First, the strength of unified collaboration has been enhanced by the rapid advancement of technology in video conferencing and collaboration tools. Second, classrooms are increasingly implementing a dynamic structure supported by technology to handle interruptions without interfering with the flow of instruction.

However, countries in the Asia Pacific are at various levels of development when it comes to digital infrastructure and perspectives toward hybrid learning. Traditional teaching approaches still predominate in some markets, while in others, they need to be modified to work with currently available technologies.

Regardless of the different market nuances, students gravitate towards this model. Many find that the hybrid learning experience allows them to learn in a more engaging environment while not restricting them to a particular time or place for learning.

Also Read: Why GoImpact believes that education is the key to promoting ESG investment

A report in June 2021 found that 49 per cent of the student population worldwide affirmed having enrolled in an online course in the previous 12 months. In addition, 95 per cent of students indicated being satisfied with online education and that web-based learning is more engaging and helps them retain information more rapidly. This is adding impetus to the need for schools to include some form of hybrid or blended learning instruction.

Challenges to making hybrid learning work

However, hybrid learning requires a multi-dimensional involvement made possible by technology. Roadblocks to implementing hybrid learning include not just inadequate technology but also the lack of compatibility among devices.

When the lockdowns arrived suddenly, many schools were faced with an urgent need to cobble together solutions utilising a variety of devices and platforms that did not “work well” with one another or were too difficult for instructors to use while teaching.

Additionally, faculty staff with little remote teaching experience have struggled to teach when using devices or platforms with less-than-intuitive interfaces. Poor audio and video solutions can further impact an instructor’s ability to teach effectively – especially when they are teaching from the classrooms where they are most comfortable.

The risk of security issues has also been a potential bottleneck. A broad range of devices run on a campus or district network and platforms or machines accessed by staff and students with limited cybersecurity oversight across less-than-secure public networks can be potential headaches for a school’s IT department.

The same holds true for on-campus faculty, guests, and devices – connectivity and access to the network must be carefully managed. School networks need to be protected from increasingly sophisticated malware.

Hijacked video services and bring-your-own-device type issues are also sources of potential security breaches as devices are transferred between home and the classroom for hybrid learning. To mitigate these risks, it is crucial that educational institutions educate students and faculty about data security risks; teachers themselves may also be unaware of the basic security problems and how to prevent them.

Giving everyone an equal seat

Besides taking into consideration the factors above, schools also need to be mindful of maintaining a consistent online learning user experience for everyone, no matter their location, while still tailoring the solution to the instruction or meeting space.

It is also important to ensure meeting equality in virtual sessions such that everyone has an “equal seat” at lectures, virtual classrooms, or group meetings. Schools need to ensure that the platforms are easy to use, are purpose-built, and are able to provide intelligent video, clear audio, localised AV options, intuitive content distribution, and effective video conferencing solutions for accessible and equitable learning experiences.

Hybrid learning solutions should also include scheduling tools as well. This ensures that classrooms and instructional technology are available when needed by faculty staff, thereby improving efficiency and productivity. Additionally, such solutions should offer the ability to scale by allowing web-based conferencing to be added to existing and new instructional spaces to support those environments. Lastly, the platform should be future-flexible – which means that it can handle upgrades as and when new technologies are developed.

Putting a hybrid learning solution together

To implement a hybrid learning solution, educational institutions should start by clarifying their needs and identifying the current issues and limitations in their infrastructure, and then choose the right solution that addresses their requirements. Different schools will have different needs depending on their platforms and operating system preferences, scale, and percentage of remote students and instructors.

Also Read: ChatGPT becomes the helper or killer to all occupations in Vietnam

The first step in implementing a hybrid learning solution is, therefore, Assessment and Awareness. Schools need to understand the challenges it and its chosen system will be confronting. They need to determine whether students and faculty want the flexibility of learning or teaching from anywhere and consider peoples’ preferences and need when it comes to using personal devices for collaboration and connecting with others.

They also must keep in mind that as new teaching methodologies emerge, IT pain points will increase. So, while the demand for software-based conferencing solutions is surging, they need to be aware that there could be initial compatibility and interoperability problems.

Second, schools need to define objectives and craft their plans accordingly. They should identify the limitations of current learning and instruction methods, examine how technology influences an equitable learning experience for students when learning remotely, conduct site audits and explore use cases.

Additionally, they need to define their desired outcomes for consistency, performance, and connectivity, as well as outline the institution’s objectives and needs for web-enabled conferencing and collaboration solutions.

Finally, educational institutions need to find the right partner in Implementing a hybrid learning solution.  An end-to-end partner — preferably with an ecosystem approach that provides a breadth of solutions and services to help schools meet their objectives – would be an ideal choice. Such a partner would help them craft a strategy that gives faculty the freedom to choose applications while staying fully interoperable with all tools.

Their solution should also be built on an open platform on which new web-based conferencing tools can be integrated with legacy technologies. Additionally, the partner should have an open sensibility towards natively supported third-party solutions and the expertise to deploy and manage every device across the campus or school district, and who will help keep the learning experience top-of-mind.

Combining these strategies together will help enable educational institutions to provide a seamless, meaningful, and equitable learning experience for students while at the same time empowering instructors and educators in their teaching experience.

With the right technology partner, schools and teachers can bring the education experience for students to the next level and be well-prepared to adapt to whatever new learning possibilities that the future interconnected world will bring.

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It feels like 2023 will be the year when things really return to the way they were. COVID-19 restrictions have largely been lifted, people are working in the office more frequently, and travel is returning to pre-pandemic levels.

Yet as we overcome one crisis, we’re starting to feel the effects of another – the cost-of-living crisis. Talks of a global recession and the recent spate of layoffs have put additional stress on people around the world.

Moreover, the pandemic has left an indelible impact on us as consumers. Even as we transition back to our pre-pandemic ways of life, our behaviours and habits have become influenced by how we lived for the past three years, where we relied on the Internet and social media for almost everything, from entertainment to shopping to completing our daily chores, and missed out on things like physical human connection.

With the many different forces at play, it’s hard to make sense of how people truly think and feel. Our latest Connecting the Dots report sheds light on the top need-to-know trends for the year ahead.

Search is no longer the same as before

Recent data shared by Google shows that nearly half of the young people look to TikTok or Instagram instead of Google Maps or Search when looking for answers. The percentage of Gen Z’s online time spent on social media is at an all-time high of 41 per cent, and social media is fast overtaking search engines in becoming the preferred platform for these consumers to start their purchase journey on.

Social media is now seen as a one-stop shop for one’s purchase journey. Social media is an avenue for Gen Zs to explore and find things they didn’t even know they needed.

Also Read: How to orient your brand to Gen Z values

We also found that 48 per cent of Gen Zs are heading to social media for product search, compared to 44 per cent who use search engines. Ads seen on social media have become Gen Zs’ top brand discovery tool when shopping online, and Gen Zs are now more inclined to get recommendations and ideas from real people rather than from an article that could have been sponsored when shopping. Gen Zs in APAC, in particular, are more likely than the average internet user to use vlogs in their product research.

When looking at APAC as a region and its consumers across age groups, our findings don’t deviate much from the above. 60 per cent of APAC consumers say they discover or research products/brands through social media.

With the number of people who are doing their shopping-related research on social media continuing to climb and with platforms testing new features to meet this growing need, brands need to keep track of what’s culturally relevant to their audiences if they want to cut through and make an impact.

Internet and social media behaviours and attitudes are shifting

As we shift back to our pre-pandemic lifestyles, the way we use and even feel about the internet has changed. While certain activities like online gaming continue to thrive post-pandemic, activities that used to be very much associated with ‘going online’ have plateaued.

For example, the number of people globally who use the internet to find information has fallen by 14 per cent since Q3 2018. There are also fewer consumers who are using the internet to share opinions (down 11 per cent), keep up with news (down 15 per cent), and engage in general browsing (down 14 per cent), demonstrating a shift in online habits and how such activities are gradually becoming less important to internet users as a whole.

Looking at social media, platforms like TikTok, Instagram, and, more recently, BeReal and Bondee have become a means for people to connect with one another. However, as we become inundated with more apps to download, more notification alerts on our phones, and never-ending posts from the friends and celebrities we follow, we might feel the strain that social media has on our mental health.

Also Read: Gen Z is redefining global consumption. Can companies keep up?

In fact, consumers who say social media causes them anxiety have grown 11 per cent since Q2 2020. Our latest report on Gen Zs reveals that this younger generation worries that they’re spending too much time on social media. A combination of heavy representation of unrealistic body images and more online abuse is leading female Gen Zs to feel the negative impact of social media.

The ramifications of this trend are incredibly broad, which is why brands need to be mindful of creating a trusted, authentic, and captivating online experience for users.

A cost-of-living crisis doesn’t mean that there isn’t room for treats

Although consumers are feeling the heat of economic pressures and being more selective in where they spend their money, financial confidence in APAC looks steady, where more than half of APAC consumers express a positive outlook towards their personal finances and only 10 per cent anticipate a decline in their financial situation.

Previous recessions have shown that products and services can quickly shift from essentials to treats in consumers’ minds. The most distinctive treats that people are allowing themselves to splurge on this year include clothing, skincare, and travel.

In APAC, 84 per cent of consumers made at least one major purchase in the last three-six months. As more people are getting out of the house and socialising, beauty and clothing have become categories that people are willing to spend on. Clothing has emerged as the most preferred indulgence for APAC consumers, with 33 per cent saying they have purchased clothing as a treat for themselves in the last six months. Even when money is tight, people generally make space for small indulgences that put them in a good mood.

Our research shows that quality is the top purchase driver overall, with 53 per cent of global consumers saying it’s important when deciding what to buy, so brands should hone their messaging around the durability of their items as consumers look to make their money count.

While we can’t be sure what lies ahead, it’s important for brands to remember that there’s still so much pent-up demand, and many consumers will be carving out space for affordable, high-quality and ‘must-have’ treats.

So much is going on around us that is influencing the consumer mindset. By connecting the dots between what people say, think, and do, brands can make sense of what’s happening and zone in on what really matters to consumers across the globe.

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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 Deciphering consumer sentiment: Understanding APAC consumers’ outlook for the year ahead appeared first on e27.