The Singapore government recently announced several business support measures to help businesses defray the costs and risks of innovation as corporate purse strings tighten. The enhancements to the National Productivity Grant, newly minted Enterprise Innovation Scheme, and other initiatives announced during the Ministry of Trade and Industry’s Committee of Supply debate underscore the importance of businesses remaining competitive to stay resilient in an uncertain economic climate.

As Deputy Prime Minister Lawrence Wong mentioned, an “era of zero-sum thinking has begun”. In the race to become resilient, many businesses default to cost-cutting measures, tightening spending and reducing investments in innovation efforts to focus on short-term operational efficiency. However, marginalising innovation is likely to be detrimental to long-term business success.

Organisational resiliency need not come at the cost of innovation. By learning to evolve and adapt to new ways of working quickly, businesses can develop the necessary organisational muscles to withstand changes in the environment to survive and thrive, even in difficult times. 

Beyond resiliency to antifragility

“Antifragile” is defined as a category of things that not only gain from chaos but need it in order to survive and flourish. Made popular by a book of the same name by Nassim Nicholas Taleb, being antifragile is beyond resilience and robustness. A resilient business resists shocks and stays the same; an antifragile business improves, evolves and becomes stronger.

Also Read: Harness the power of your location data to drive business growth

In applying the “antifragile” concept to organisations, it is apparent that there are many areas that they can improve on, including the diversification of products, services, and channels, acceleration of digital transformation efforts that include the automation of processes and manual tasks, and establishing an innovative, agile data practice that harnesses data to inform quicker learning during innovation loops for better business decisions at all levels within the organisation.

An antifragile business is always learning from the environment it is in. The more data it can gather, the better its ability to harness them to make better decisions. To do so requires an effective data strategy that allows the organisation to derive key actionable insights from data in a timely, accurate, secure, and manner for data-driven decisions that can help drive operational efficiencies and improve business outcomes.

Treating data as a strategic business asset with its own comprehensive strategy aligned to business priorities can help businesses adapt and evolve regardless of the market condition to achieve true antifragility. 

In the digital era, data is ‘the new gold’

Enterprise data is growing at an explosive rate, driven by accelerated digital transformation and increased customer touchpoints. By 2025, IDC predicts that 80 per cent of data collected worldwide will be unstructured, presenting immense opportunities for organisations to store, analyse, collect and gain insights and potentially monetise the data. 

According to Cloudera’s Enterprise Data Maturity report, 91 per cent of IT decision-makers believe that their organisation’s data strategy was key to increasing resilience. A well-considered data strategy identifies the main challenges or opportunities that the organisation is trying to solve, while including a set of guiding principles or policies for dealing with them and a coherent set of actions. It is also aligned with the organisation’s cloud and digital strategies and outlines the modern data architectures needed to leverage data across the organisation’s hybrid multi-cloud environments.

To effectively execute the data strategy requires tools equipped with modern technologies that can manage disparate data sets in a consistent, secure, and governed manner across the entire data lifecycle, no matter where the data resides. Being able to do this while providing shared security and governance features across different cloud environments is critical.

A robust hybrid data platform guided by a deliberate data strategy is essential in building trust that the data is fit for purpose to provide business leaders with the confidence in using the data to guide business decisions. 

Data powering growth opportunities

Together, a data strategy backed by a hybrid data platform leveraging modern architectures can help organisations uncover new growth opportunities, by applying technologies like automation, artificial intelligence and machine learning for increased time to insights. 

For example, one of the largest financial services groups in Southeast Asia saw the opportunity to leverage data and machine learning to deliver innovative banking services that catered to consumers’ preferences for digital-first banks.

Also Read: Revolutionising fintech in Southeast Asia: AI and ML empower businesses with data

They built a centralised platform that uses machine learning to analyse real-time contextual data from customer conversations to identify the most relevant information for each customer and curate personalised experiences across communication channels.

The bank also used machine learning to predict several bank systems’ potential time to failure, ensuring that information technology teams could take preemptive decisions to keep data centres always up and running. The machine learning models have helped the bank to reduce the risk of losing sensitive customer data, such as financial details, and avoid costly regulatory fines from downtime. More importantly, it created a faster and more efficient transaction experience for its customers.

The whole is greater than the sum of its parts

Getting value from data can be both complex and complicated. Data often needs to be brought together from multiple sources, secured, curated and processed. This needs to be done at scale, across rich datasets and increasingly in real-time. Having a clear, unified and reliable view of all data assets is foundational to having informed decisions with high degrees of confidence.

Furthermore, being able to implement modern data architectures such as Data Fabric, Data Mesh and Data Lakehouse across public clouds and on-premises provides the greatest flexibility to organisations. These qualities are core principles of the Cloudera Data Platform (CDP).

The challenges and obstacles from evolving external factors present opportunities for businesses to harness one of their most valuable and underutilised assets, data, to make informed decisions and flourish in any market condition.

A strong data strategy and the ability to innovate effectively and respond quickly are foundational to the antifragile organisation. I believe that technology and agile innovative data practices will play an important role in supporting this in 2023 and beyond.

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The post Building antifragile organisations: Harnessing data strategy and for resilience appeared first on e27.

Use our special promo code: GO for 75% off your Echelon tickets!

Featuring the TOP100 stage, the 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

The TOP100 program is an annual project spearheaded by e27 with the goal of recognising the most promising and innovative startups in the Southeast Asian region and beyond. The program is a highly anticipated event that provides a platform for exciting new startups to showcase their ideas, gain exposure to investors and potential partners, and receive valuable feedback from industry experts.

Through the TOP100 program, startups have the opportunity to pitch their ideas to a panel of judges comprised of investors, corporates, and industry giants. The judges evaluate each startup based on various criteria, including innovation, market potential, team strength, and overall execution.

Also read: Echelon: Strategies for growth equity according to industry experts

Winning the TOP100 program can have a significant impact on a startup’s growth trajectory. The program has helped many startups secure funding, gain media attention, and expand their customer base in the regional market.

With its rigorous selection process, 100 startups get to pitch their products and services at the TOP100 stage of the Echelon Asia Summit slated on June 14-15 at the Singapore EXPO. Top contenders will proceed to the TOP100 finals where winners will be selected.

Without further ado, here is the second batch of startups that will be competing at this year’s TOP100!

15 more semifinalists for the 2023 TOP100 

Hello3Dworld

Hello3Dworld is a Metaverse platform where users can create their own 3D Avatar from a single photo in just a couple of seconds.

Through Hello3Dworld, users can easily create their own Metaverse with only a few keywords and, through that Metaverse, participate in activities that replicate real-world experiences, such as shopping, entertainment, working, studying, and travelling, among others.

Staying true to their slogan, “Real World on the Internet”, inside Hello3Dworld’s Metaverse platform, users will have their own houses and assets; Brands will have their own offices, showrooms, real estate projects, malls, schools; and Governments can bring landscapes, tourist sites, museums — all within the Metaverse.

Castomize Technologies Pte. Ltd.

Castomize is revolutionising medical devices with 4D-printing technology, starting with orthopaedic casts and splints. Castomize’s 4D-printed casts provide a myriad of benefits to both doctors and patients. For doctors, they reduce the amount of manpower, time, and tools needed to apply and remove casts. For patients, they provide unprecedented comfort and ease of care throughout the healing journey.

As a pre-revenue spin-off from the Singapore University of Technology and Design that was established in late-2022, Castomize has progressed quickly in terms of traction, being in several feedback loops with orthopaedic experts from 5 different hospitals in Singapore and Korea. They have also gained market traction and interest, having signed several Sales and R&D LOIs and MOUs with organisations in the Asia-Pacific, including an upcoming clinical trial at a national hospital in Singapore. Additionally, they have been awarded several non-dilutive grants and awards from organisations such as the National Research Foundation of Singapore and have been onboarded on several incubators and accelerators such as Shinhan Square Bridge, SMU BIG, Temasek Launchpad, and SUTD.

FLEXWAVE CO., LTD.

FLEXWAVE builds an embedded PV energy harvester for IIoTs with 75% more power, which can reduce the size of the device and make the “wireless” come true.

Flexwave offers an innovative optical method to overcome the limits, naming the fibre-like technology as Flexible Waveguiding Photovoltaics. According to the nature of the waveguide material, PV panels can collect photon energy from a wider angle. Flexwave aims to solve the energy crisis of IoT endnotes. There will be trillions of IoT devices in the next decade, resulting in batteries that require huge maintenance costs. Flexwave provides an embedded energy harvester which gives 75% more power than the traditions.

Paladium Technologies

Paladium Technologies acquires and analyses first-party purchase data to help B2C merchants increase revenue with strong market intelligence. They are an up-and-coming data company that is focused on the collection and processing of consumer data, with analytics as an added layer to provide greater value to Consumer-Facing Businesses.

They offer actual monetisation of the consumer’s data to the consumer — a unique proposition unheard of in Developed Countries (DCs) within Asia Pacific, where consumers are starting to be aware of how the Big Tech Companies are exploiting their data without consent. Through this, they also enable consumers to monetise their personal data.

The venture is also privately invested.

eMobily

eMobily provides a mode of electric transportation to underserved communities and cities. Specifically, they exist to serve the e-bike and e-scooter community by providing sustainable transportation in the EV industry. Under its belt, eMobily develops technology based around micro-electric vehicle infrastructure, such as charging and security port stations for micro-mobility to organised fleets, including developing a localised machine learning/AI geolocation sensor that can help riders and robots pinpoint the exact location needed during trips in large areas that are not accurately listed on their maps.

eMobily is an all-in-one stop solution for the EV Market. It has a consortium group of specialities to solve manufacturing, distribution, and global expansion for accelerated electrification.

GeeTest

GeeTest, the leading bot management vendor and the creator of the SlideCAPTCHA, is the most intelligent and robust solution that frees your website, mobile apps, and APIs from malicious traffic.

For 10 years, GeeTest has been focusing on the field of cybersecurity, polishing innovative products and ideas to strongly promote the development of this industry. GeeTest believes that the imminent challenges perturbing the Cybersecurity landscape are the challenges between improving the quality of traffic (managing the proportion of fraud traffic) to enable companies to efficiently monetise traffic and combating the hidden and profit-driven bot threat.

The H2 World Inc.

The H2 World Inc. produces longer-duration energy storage and monetisation solutions for renewable energy. Their turnkey H2 solutions provide cleaner, more flexible lower cost energy independence and security.

With more renewable energy and electrification, electrical grids are more strained and less reliable. Fuels in widespread use such as natural gas emit far too much CO2e. As such, The H2 World Inc. provides affordable turnkey hydrogen generation through electrolysis and methane transformation, storage, and energy systems, pods for homes/small businesses, and containerised packs for larger customers. Their systems provide the lowest cost hydrogen, with near Co2e. 

ERP360 (PT ERP SAAS INDONESIA)

ERP360 delivers Integrated Real Estate ERP Cloud in Indonesia, specialised for real estate developers and enhanced with Automation & Business Intelligence, all at an affordable price.

In 3-5 years, the company is poised to have BIG DATA Real Estate Analytics created by Artificial Intelligence (based on real data transactions), that provides insight to real estate mapping price, customer behaviour, buying capability, supply and demand in each area, and many other data or statistics all over Indonesia. If they can make this happen, the Big Data will create many other business opportunities such as feasibility study, consultancy, and even real-time available unit property portal, while also collaborating with other giant proptech like PropertyGuru, among others.

NextPay

NextPay empowers MSMEs to automate collecting, sending, and managing of money — all from one powerful platform. NextPay provides easy-to-use financial services without high fees and barriers to entry.

Since 2020, over 3,000 Filipino entrepreneurs have trusted NextPay to help them simplify their financial operations. It is their mission to build the right financial tools and technology so local businesses can thrive and scale. NextPay’s simple and affordable set of business banking services where business owners can easily sign up to start include Collecting Money: sending digital invoices, accepting payments via links and QR codes, automated reminders; Sending Money: salary payouts, supplier payments, etc; and Managing Money: real-time reporting, possible integration with HRIS and accounting systems.

Lokéin

Lokéin is a full-suite social commerce platform to easily help digitise and digitalise business owners, brand owners, and MSMEs including second-hand goods merchants while at the same time, managing their business easily, anytime, and anywhere. With their solution, those MSMEs can simply digitalise and digitise their businesses with a no-code omni-channel social selling software that enables MSMEs to sell seamlessly and manage their businesses efficiently.

The software includes an e-commerce storefront, full-suite seller dashboard, custom landing page builder, built-in marketing tools with AI assistant, Bahasa Melayu Chatbot AI assistant, affiliate system, and e-POS manager. The solution is a lightweight, fast, responsive e-commerce software that comes with a pre-fixed template where users can set up their store in just seven minutes.

PETSKITA

PETSKITA is a one-stop solution multi-brand e-commerce platform for all pet care needs with personalised “pet profile” features, transforming the way pet parents shop.

Some of the major problems being faced by the pet industry in Indonesia and Southeast Asia are the hassle that pet parents face, having to navigate through many different platforms. It’s also hard to access trusted and quality products and services, which makes the overall buying experience for pet products inconvenient. Currently, Indonesian pet parents are still getting their products from conventional pet stores or general marketplaces. There is still no trusted online platform specifically for pet parents, like Chewy (www.chewy.com) in the US or a large pet store chain in Indonesia.

PETSKITA is solving those problems by building the first integrated pet ecosystem in Indonesia. Making PETSKITA a household name by being a pet care brand that people love and that resonates with Millennials and Gen Z. PETSKITA aims to be the “Chewy” of Indonesia and Southeast Asia.

ALGOGENE FINANCIAL TECHNOLOGY COMPANY LIMITED

ALGOGENE is the next-generation investment platform for learning, developing, testing, executing, and investing trading bots. They provide tick-level multi-asset, multi-event data for model development, backtesting, live simulation, portfolio analytics, and risk monitoring. Through ALGOGENE’s global exchange network, users can easily manage and deploy their trading strategies to multiple broker accounts. They also incubate outstanding trading algorithms by providing seed funding for pilot tests and building track record on the path to launch a hedge fund or fintech product with users.

Through their patents-backed web platform, users can easily create any algo strategies, and connect to multiple brokers/exchanges for live trading. They can also learn from ALGOGENE’s trading community and copy their winning strategies into their portfolio!

DIFISOFT Viet Nam JSC

Difisoft Viet Nam JSC (Digital Finance Software) is a fintech company founded in 2018 that is developing financial solutions and content for major financial institutions in Vietnam, such as VCSC, KIS Vietnam, KB Securities Vietnam, Mirae Asset Securities Vietnam, and KB Fina.

Based on the technology and experience in the financial IT sector, Difisoft is currently developing a community-based investing platform to serve more retail investors in Vietnam, Paave (coined from the words “Passion” and “Wave”. As a social investing platform with the mission of serving more retail investors in Vietnam and Southeast Asia, they pave the way to make financial freedom possible for everyone especially the Millenials.

kamilas4am Inc

Helping business owners scale their short-video content, Kamilas4am is connecting business owners and marketers who need short-video content with UGC creators — the next evolution of Influencer Marketing.

Unlike influencers who are leveraging their following, UGC creators are leveraging their capacity to create studio-quality and ready-to-post video content from home. Business owners use these short videos in their everyday posting on social media (eg Tiktok, IG reels, Youtube shorts) and in their social media ads.

Instead of spending hours, kamilas4am has shortened the process of engaging with UGC creators to 10 minutes. No more hours of finding the right creator, negotiating contracts, and endless back-and-forth to explain the project brief. With a click of a button, brands can book a creator to work within their platform of 1,000 creators.

SECHA

Aiming to ease secondary home purchases, SECHA provides home improvement solutions to help buyers get qualified and move-in-ready houses at no extra cost for renovation.

SECHA exists to help homeowners sell houses at market price without renovation cost cuts, agents to generate leads and close deals faster, and home buyers get their dream homes hassle-free. Their platform equips agents with the tools that have been proven to increase buyers’ intention to purchase by 35% through their platform consisting of a Shareable Digital Catalogue, Auto-Generated Digital Proposal, and House Unit 3D Viewing.

To be battled out at the 2023 Echelon Asia Summit’s TOP100 stage

Watch out for these exciting startups as they battle it out on the TOP100 pitching stage at the 2023 Echelon Asia Summit happening on June 14-15 at Singapore EXPO.

Also read: See how GHARAGE is empowering travel and retail at Echelon

The Echelon Asia Summit is a leading technology conference that brings together experts from around the world to discuss the latest trends and innovations in the industry, share expert knowledge, and provide opportunities to network with peers. The event is a must-attend for anyone in the tech industry looking to stay ahead of the curve.

Catch these startups and more at this year’s TOP100 stage! To learn more about Echelon Asia Summit 2023 and to sign up for the event, visit the official page here.

The post 15 exciting startups make it to the 2023 TOP100 appeared first on e27.

Grab losses shrink 43% in Q1, revenue surges 130%
Net losses narrowed to US$250M from US$435M reported in Q1 2022; Deliveries were the star of the show for the company, contributing US$275M in revenue.

East Ventures closes US$250M fund for portfolio firms
The Indonesia-focused VC firm will continue to invest in early-stage and growth-stage companies through its seed and growth funds, which have been extended to have a corpus of US$585M.

MetLife, Khazanah join insurtech startup bolttech’s US$196M Series B round
The funds will be used to explore inorganic opportunities; bolttech works with insurers, telcos, retailers, banks, e-commerce and digital destinations to embed insurance into the customer journeys at the point of need.

Vietnam’s VNG eyes US$100M funding round
The company. whose businesses include online games, payment, cloud services, and Zalo, is working with Maybank on the fundraising; GIC, Temasek, and B Capital are its existing investors.

Ex-Spenmo CPO denies firm’s embezzlement rumours
Spenmo Indonesia is suspected of embezzling US$895K intended for the acquisition of two financial service providers, namely multi-finance company Beta Inti and remittance firm Aryadana.

Malaysia’s Signature Market delays domestic IPO after profit decline
The e-commerce firm wants to make healthier food products more accessible and affordable in Malaysia and the rest of SEA; Its profit has been dropping in the past two years due to consumers shifting back to offline shopping.

Venturra aiming for 8 to 12 deals in 2023
The firm has completed 29 investments since 2019, with the majority of them in seed-stage companies; Venturra prepares to launch a new fund – its third one – in the coming months.

Ex-Zalora CMO’s telehealth platform ORA secures US$10M Series A
The investors include TNB Aura, Antler, and Gobi Partners; ORA is a house of healthcare brands; Its brands include Modules (prescription skincare), OVA (women’s health) and andSons (men’s health).

Jenfi nets US$6.6M to expand its revenue-based financing business in SEA
The investors include Headline Asia, Monk’s Hill, and ICU Ventures; The fintech firm plans to expand its presence in Singapore, Vietnam and Indonesia while expanding into new markets across Southeast Asia.

Northstar, Golden Gate join US$4.3M round of SG AI firm Locofy
Locofy helps designers automate front-end code directly from their designs and integrate them with existing workflows, leveraging AI to convert designs into coding languages to save time.

Gojek, Dat Bike partner to roll out two-wheeler EVs in Vietnam
Dat Bike will provide Gojek driver-partners with Weaver++ motorbikes to use for GoRide, GoFood, and GoSend orders; Drivers can charge their Dat Bike battery for free at community charging points in Ho Chi Minh City.

Taiwanese enterprise firm Profet AI eyes SEA expansion
Profet AI uses machine learning to boost operational efficiency by allowing clients to create customized apps and AI-powered programmes; It mainly offers its services to electronics, semiconductor, and chemical manufacturers.

UK fintech firm 3S Money to apply for Singapore payment license
This is as part of efforts to expand its offerings in Asia; The firm helps its clients scale globally by offering business accounts with local details in markets like the EU, the UK, and the US.

‘Co-working spaces should introduce new tech tools to cater to hybrid, remote workers’
Co-working spaces, which used to be identified as ‘startup-friendly’, now have transformed into ‘business-friendly’, says Infinity8 Co-Founder and CEO Lee Sheah Liang.

Why Doctor Anywhere believes that the future of healthtech lies in preventive healthcare
In this interview, Doctor Anywhere Founder & CEO Lim Wai Mun reveals plans to acquire more companies in the healthcare sector.

‘Global firms are paying closer attention to SEA’s tech talent pool’: Glints CEO
Oswald Yeo says there is an industry shift towards the ‘make profits, sustain, and grow’ model and the concept of blitz scaling is mostly foregone.

How climate tech companies in Asia measure the impact of their work
To answer this big question, we reached out to climate tech companies in the Asia Pacific and get them to explain the details.

Echelon: Strategies for growth equity according to industry experts
Let these experts from 500 Global weigh in on what strategies companies in Southeast Asia must explore to pursue growth-stage funding.

Unleashing women’s potential: How tech companies are leading the way
Developing a healthy workplace culture that supports women is not only the right thing to do, but it is also a strategic imperative for Malaysia.

Cracking the PR code: A PR blueprint for startups
Unlock the world of PR for startups and take advantage of the techniques that can propel your startup to the top.

How are Singapore SMEs taking a proactive stance towards sustainability?
SMEs in Singapore have the ability to be proactive and be well-prepared for the inevitable inclusion of Scope 3 emissions as a business cost factor.

Singapore’s security industry: Why condos ‘peace of mind’ should be resolved with technology?
Singapore’s security industry is transforming to meet global demands through new technological advancements.

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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.

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The post Ecosystem Roundup: Grab cuts Q1 losses by 43%, revenue spikes 130%; East Ventures closes US$250M fund appeared first on e27.

The TOP100 program, organised annually by e27, aims to showcase and honour the most promising startups in the dynamic Asia-Pacific region.

This prestigious initiative invites innovative startups from across the Asia-Pacific region, embracing their groundbreaking ideas that disrupt industries and surpass conventional boundaries. The selection process for the TOP100 is rigorous, carefully evaluating each startup’s product or service, team, market potential, and traction.

Also Read: The first 15 startups that made it to this year’s TOP100

The chosen startups will have the chance to present their business ideas on the grand stage of the Echelon Asia Summit, taking place on June 14-15, 2023, at the prestigious Singapore Expo.

But that’s not all – the TOP100 program goes beyond just pitching. It opens doors to a world of possibilities by connecting participants with investors, mentors, and potential partners. This invaluable exposure propels the growth of these startups, helping them expand their networks within the global tech ecosystem.

Year after year, the TOP100 program has solidified its position as the most esteemed startup competition in the region, attracting thousands of applicants eager to gain visibility and support. It’s a platform where the most promising startups shine and receives the recognition they deserve within the thriving Asia-Pacific startup scene.

The 12 startups competing for a spot in the TOP100 program

In the buzzing tech startup scene of the Asia-Pacific region, where amazing startups are popping up left and right, we’re thrilled to introduce you to the next 12  standout frontrunners. These awesome startups are getting closer to their shot at competing in this year’s TOP100. Get to know them better right here!

Bizbaz

Bizbaz offers comprehensive customer intelligence and risk assessment solutions that analyse and assess the lifestyle and social as well as financial data of an individual. 

TUBUDD

Tubudd is an online travel marketplace that showcases and connects local buddies to travellers.

Smudg

Smudg is a hyper-personalised beauty product and routine discovery and shop app. Smudg eliminates the guesswork, empowering people to discover, match, and shop right, minimising product wastage and saving them time and money spent on product trials. 

Sensegrass

Sensegrass is making the first Smart Soil Sensing NPK Sensors for pesticide and fertilizers detection using IoT and AI algorithm-based prediction software.

Meatiply

Meatiply is a Singapore-based cultivated meat start-up aiming to produce safe, sustainable, authentic and tasty cultivated meat cuts with a strong focus on Asian cuisines.

Adirelounge

Adirelounge is transforming agricultural waste into sustainable textiles. They are committed to addressing the issue of banana waste by producing premium-quality, eco-friendly textiles from discarded banana stems and leaves.

Hangles  

Hangles, a Resale Fashion Community with a mission to make zero-waste fashion possible.

KarmaV 

KarmaV enables organisations of any scale to build their employer brand, simplify the recruitment process, and measure and improve the effectiveness of core recruiting metrics and workplace diversity goals.

Wizher 

Wizher is a digital laundry management platform that streamlines operations and improves the overall laundry experience for both shop owners and their customers.

TradeMonday

TradeMonday is the AIaaS Low-code Platform enabling the product, tenant and shopper recommendations for retailers, brand owners and shopping malls.

Weavair

WeavAir harnesses advanced sensor technology, algorithms and predictive analytics to manage high-value HVAC systems, improve indoor air quality, save energy & streamline operations.

Cocotel

COCOTEL is a chain of one-three-star hotels, resorts, and beachfront properties that provides quality rooms at a fraction of the cost. From overnight stays to long weekends, come and enjoy the scent of salty sea air and the comforts of a cool, clean beach haven.

Taking the next step to TOP100

Moving ahead after a careful evaluation, these startups have taken another stride towards qualifying for this year’s prestigious TOP100.

If you’re one of the founders of these amazing startups, expect a message from e27 soon. Our team will be reaching out to discuss the next steps in your application process. Don’t hesitate to contact us if you have any questions or need assistance. We’re here to help!

Also read: Why your startup deserves to take part in the 2023 TOP100

Got an awesome startup with mind-blowing ideas that can outshine the competition in the region? Well, here’s your chance to join the 2023 TOP100 and strut your stuff in front of top-notch investors at this year’s Echelon Asia Summit! Don’t wait for another second—register for TOP100 right here and let the world see what you’ve got!

The post Meet the next 12 frontrunners for this year’s TOP100 program appeared first on e27.

In April, ShowHeroes Group announced its plan to acquire Singapore-based adtech company Intelligent Video Solutions (iVS) for an undisclosed value. This acquisition is part of the organisation’s plan to expand into the Asia Pacific (APAC) market, including Singapore, Malaysia, the Philippines, Indonesia, Thailand and Japan.

Prior to the acquisition, iVS served over 208 million unique users each month through its programmatic marketplace, made up of Asia’s independent publishers, advertisers, broadcasters and DooH providers. The company leverages machine learning to enable monetisation and consumer engagement through its AVOD platform, proprietary video player and smart technology.

The acquisition transformed iVS CEO Milan Reinartz to the role of ShowHeroes SVP, APAC.

“We were already market leaders in Southeast Asia (SEA). Now, we have our sights set on firming up our position, growing revenue, and moving into new markets, such as Japan,” explains Reinartz.

“ConnectedTV (CTV) is a key focus for 2023 and 2024. We’re going to be bringing programmatic advertising into the over-the-top (OTT) environment, something that’s still in its nascent stages in SEA.”

The company also aims to introduce its Better Media ethos into the Asian ecosystem, a framework that includes sustainable media, responsibility over carbon emissions, data ethics, and diversity, equity, and inclusion.

To understand more about what this acquisition means for the future of ShowHeroes in the region, e27 writes to Reinartz and ShowHeroes Group CEO and Co-Founder Ilhan Zengin.

Also Read: iVS rakes in US$3.2M led by Tin Men Capital to expand its video ad platform beyond SEA

What this M&A means

Reinartz says that he and Zengin first got in touch to discuss forming a partnership, but they quickly realised the ways that both companies “overlapped and synergised”. He explains how the acquisition is going to make a difference in how the company operates.

“The commercial benefits are very impactful. With more resources, global backing, and case studies for global advertisers, we have a far larger scope than before we were on board with ShowHeroes Group,” he says.

“We’re also merging our technology and operations. We’re consolidating features such as ad and video player formats to make an already brilliant tech stack even better along with integrating iVS’ SSAI technology into the ShowHeroes VOD and live-streaming products. With exclusive PMP deals for publishers, ShowHeroes Studios’ in-house video content production, and access to ShowHeroes’ global network of independent, premium publishers, it’s a very exciting time for us and our partners and clients.”

This acquisition will positively impact ShowHeroes’s growth strategy by increasing its efficiency while maximising the breadth and depth of its product.

“We now also have access to a global intelligence system through ShowHeroes, with all its learnings, rather than relying solely on our local expertise – in the principle of economies at scale, the cost advantages we’re seeing from this acquisition are brilliant,” Reinartz says.

Also Read: Monk’s Hill-backed iVS launches in-stream video ads marketplace; names new CTO, CRO

“Furthermore, evolving from a successful startup company – with all the work that entails – to now being part of a larger global company and team allows us to fully focus on our customers and partners, both old and new.”

But this acquisition is not without challenges, especially in an ecosystem such as SEA where exits remain a rarity.

“The operations team and I spent a lot of our time with our eyes firmly on all details concerning the acquisition and were unavailable for other day-to-day functions. It was important for us to stay closely aligned as a team and structure our goals in an OKR framework. This allowed us to run our business relatively smoothly during this intense period. There’s a saying, ‘Slow is smooth, and smooth is fast’. That was well worth bearing in mind,” he elaborates.

He also stresses that M&A does not have to be all politics.

“It’s more important to build a foundation of trust, cultural alignment, and a shared, long-term vision. Only work with people you like. Surprisingly, internal stakeholder alignment proved to be more cumbersome than external negotiations. Make sure to pay it forward and have your ship in order in order to move swiftly,” he says.

“Being in the C-Suite during an acquisition, you’ll receive hundred-and-one bits of advice. Filter that advice, and then follow your gut. Nobody knows better than you if the timing is right or not,” he continues.

Also Read: Why Southeast Asia’s locally owned adtech and martech industry will survive the recession

Seizing opportunities in APAC

At the same opportunity, Zengin explains the key strengths that drew them to iVS–now ShowHeroes.

“What stood out to us was the most important thing an acquisition could provide: their team and leadership. We felt great about our connection since day one,” he says.

He further explains the role the Asia Pacific (APAC) market plays in the company’s growth plan.

“APAC is one of the fastest-growing regions next to LATAM in terms of both economy and ad spend, with just over US$197 billion in total digital spend in all of Asia Pacific during 2023. The APAC market has enormous potential for digital media. We’re here to take it as far as we can with the full force of our connections, expertise, and technology,” Zengin says.

“What’s also special is that the APAC region’s potential is not relegated to publishers and advertisers within those countries themselves – a lot of campaigns from around the globe include the APAC market in their scope, so the market’s potential exceeds its local population.”

In order to win this market, M&A plays an important role in ShowHeroes’s growth strategy.

“ShowHeroes Group has had very strong organic growth since our inception – we’ve been out-performing the market at a high pace – however, we’ve long recognised that the digital media space is one of consolidation, not domination. Local presence is absolutely key in digital advertising and that’s best achieved through M&A. When done correctly, it builds a local presence effectively overnight with the newly-acquired experts who are deeply connected to that market,” he says.

He also reveals that ShowHeroes might acquire another company in the near future.

“As a company, we’re very opportunistic when it comes to growth – as long as we have the means, we won’t pass up brilliant opportunities to grow our Hero family,” Zengin closes.

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Image Credit: ShowHeroes

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