Post-pandemic, the definition of co-working space has changed, and so have their objectives. An uncertain economic situation has further made the concept more acceptable. From startups to MNCs, companies are now increasingly relying on such facilities to reduce their capex.

INFINITY8 is a company with eight branches in Malaysia and one new branch due in June 2023, with a total size of 117,564 sq ft. The company has seen the demand for its co-working facilities going up post-pandemic.

e27 spoke to its Co-Founder and CEO Lee Sheah Liang to learn about how the industry has been growing post-pandemic and how the current economic situation is affecting its growth.

Here are the edited excerpts:

How has the demand for co-working spaces changed since the start of the pandemic? Have you seen an increase or decrease in occupancy levels?

I will divide the pandemic into three phases.

In phase I, when the government introduced the movement control order (MCO) between March and June 2020, the businesses started reconsidering their real estate portfolios. Our occupancy rates dropped to 60-70 per cent on average during this period.

In phase II (throughout the pandemic between July 2020 and September 2021), we received more corporate enquiries that wanted to set up alternative spaces for business continuity plans (BCP), hence the occupancy rates shot up to 80 per cent on average.

Also Read: The co-working industry needs to rethink its role: The Great Room CEO Jaelle Ang

In phase III (post-pandemic and recovery from September 2021 to present), six of our branches see a 100 per cent occupancy rate, one branch has 80 per cent occupancy and another new branch (3-month-old) is at 71 per cent.

What changes have you made to your co-working space design to adapt to the new normal?

The meaning of ‘workspace’ has been redefined as more co-workers need the space for physical and collaborative sessions and individual booths for video-conferencing purposes. The hybrid working mode has also been popular.

To adapt to the new situation

• We changed some of our interfaces to become contactless; we replaced entry access and exit buttons with facial recognition and motion sensors.
• Built more individual booths for video-conferencing and collaborative spaces;
• Changed our sales strategy.

How is the current economic climate affecting the industry?

The current economic downturn has resulted in more corporates cutting jobs, reconsidering and downsizing their real estate portfolios and strategising to employ an asset-light business model to keep their companies agile and afloat.

Companies are now putting more premium on flexibility, which has benefited the industry. Co-working spaces are also able to ride on sharing economy to deliver more cost-effective options when it comes to workspaces.

Have you noticed any specific trends in terms of the types of companies or individuals using your co-working space?

Co-working spaces, which once used to be identified as ‘startup-friendly and freelancers-friendly’, now have transformed into ‘business-friendly’. More corporates and businesses are open to the concept of co-working spaces now as the pandemic has fundamentally changed their mindset and mentality when it comes to their real estate portfolios.

With many companies now adopting a hybrid work strategy, how do you see this impacting the co-working industry in the future?

Hybrid working is here to stay but there is also an increasing number of companies switching back to 100 per cent working mode. This trend is impacting the co-working industry in a positive way, as many companies have cut down their office space and strategised their real estate portfolios.

Are there any new services or amenities that you plan to introduce to cater to the changing needs of co-working members in the post-pandemic era?

We are introducing more technology-focused, smart and dynamic operating systems into our co-working spaces and creating more services, such as virtual assistants and app-based interactive systems, to suit the needs of a post-pandemic world.

What types of companies or individuals are currently using your co-working space, and how have their needs and preferences changed over time?

The composition of our co-workers is as follows:

MNCs/listed companies: 35 per cent, SMEs: 50 per cent, micro-enterprises: 10 per cent, and freelancers/individuals: 5 per cent.

For the first category, we have seen increasing demands from them as they are generally receptive to the ideas of co-working space to turn their capex into opex and keep their companies lean flexibly. Their demands have also changed as hybrid work is prevalent in this category, so more often than not they will request more access than the number of work desks they will occupy.

For the second category, there are more SMEs looking for business opportunities within a co-working space post-pandemic. Companies are also looking at outsourcing opportunities (such as HR, payroll, recruitment and digital marketing), so we see a pent-up demand for SMEs to work more efficiently.

Also Read: Singapore gets an NFT-gated Web3 co-working space Metacamp

For categories 3 and 4, there are more remote talents now compared to pre-pandemic, and work-from-home is not for everyone. Hence, a co-working space is their best alternative to focus on work.

How do you balance the need for a collaborative and social atmosphere with the need for privacy and focus in your co-working space?

We have common areas built for collaborative purposes, leveraging some tools and writing boards etc. We also have areas built for privacy and focus, such as individual virtual conference rooms, phone booths, and charging stations.

What are some of the challenges and opportunities you see for the co-working industry in Malaysia in the coming years?

Challenges: As the global supply chain continues to be disrupted, the fit-out cost of a workspace has skyrocketed. This acts as a double-edged sword as our cost of doing business has hiked up but it also means resistance for normal companies to spend huge sums of money on fit-out, thereby benefiting our business.

Opportunities: We see co-working spaces and flexible workspaces to continue disrupting the traditional office market based on the following reasons:

• Demand for flexibility continues to be important for every company’s BCP
• Post-pandemic, competition and challenges between businesses become more drastic, resulting in companies putting more budget into talent recruitment and acquisition of new customers. Hence, spending on capex to build offices has ceased to become a priority and co-working space is built to be conducive to talent retention
• All companies have experienced MCO, forcing them to relook into their real estate portfolios, decentralising operations and therefore discouraging longer tenure of tenancy agreements with the landlords
• Post-pandemic, sharing common values and being connected to a greater community has become more important than ever as we go through this biggest shared struggle in centuries
• Generally, the office market in Malaysia has more supply than demand, hence co-working spaces play an important role to consume this over-supply scenario.

What are some of the unique benefits of co-working spaces that you believe will continue to attract individuals and companies in the future?

I believe that co-working spaces should focus more on technologically advanced products to cater to hybrid/remote working teams. Apart from that, we should also curate more collaborative/decision-making spaces as offices are now largely seen as team building, high-level decision-making spaces and a space to be connected with colleagues and co-workers.

The days when offices were only considered as desks and chairs and one single workspace have gone.

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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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As the VC winter season casts its chilling effect on the startup ecosystem, it’s more important than ever for startups to stand out from the crowd and secure their place in the market. In the competitive world of Asian startups, there’s one secret weapon that can make all the difference: Public Relations (PR). The truth is, a solid PR strategy can propel a startup from obscurity to the limelight, ensuring survival in this harsh environment.

Don’t just take my word for it. Let’s dive into the reasons why startups at every stage need PR and how you can master the art of strategic communications to stay ahead of the game.

Pre-seed: Laying the PR foundation

In the pre-seed stage, you’re crafting your vision, refining your product, and maybe even seeking initial investments. But have you considered how to make an impact with your brand story?

PR at the pre-seed stage is all about laying the groundwork for your startup’s future reputation. It’s about creating a strong brand narrative that differentiates you from the competition and positions you as a thought leader. As the saying goes, “first impressions last,” and getting your story right from the start will make all the difference.

Seed: Fuelling your PR momentum

As your startup enters the seed stage, you’re looking to generate interest and buzz. It’s time to turn that brand story into a compelling narrative that journalists, investors, and early adopters can’t resist.

Now’s the time to build relationships with the media, engage with influencers, and fine-tune your messaging. Get your startup’s name out there by participating in events, speaking engagements, and contributing thought leadership content. Remember, a strong presence in the startup scene will not only build credibility but also create valuable connections.

Series A and beyond: PR power moves

So you’ve made it through the initial stages, and your startup is growing. Congrats! But don’t rest on your laurels just yet. As you scale, you need to keep PR at the forefront of your growth strategy.

Why? Because as you expand, you’ll encounter new challenges, competitors and even crises. PR is essential to maintaining your reputation, managing crises and staying in the public eye as you grow. It’s also crucial for attracting top talent and fostering a positive company culture.

Also Read: Dear tech startups, it’s never too early for PR!

PR tips and tricks for startups

Here are some pro tips to get your PR game on point:

• Know your audience: Understand who you’re trying to reach, and tailor your messaging accordingly.
• Be human: Authenticity and transparency resonate with the modern audience. Don’t be afraid to show the people behind the brand.
• Leverage data: Use data-driven insights to inform your PR strategies and measure the impact of your efforts.
• Stay relevant: Keep an eye on industry trends, and be ready to pivot your PR strategy when needed.
• Collaborate: Work closely with your PR team or agency, and ensure they’re aligned with your vision and objectives.

PR is non-negotiable

Startups are no strangers to the necessity of hustle, and PR is no exception. Regardless of your startup’s stage, a strategic approach to PR can make or break your success. So, get out there, embrace the power of PR, and watch your startup take the world by storm.

And remember, PR isn’t just a one-time thing; it’s an ongoing process that requires attention, investment and innovation. As the VC winter season threatens the startup landscape, the importance of a robust PR strategy cannot be overstated. Embrace it, and you’ll not only survive but thrive in this competitive environment.

Now that you’ve cracked the PR code, it’s time to leverage your newfound knowledge and turn your startup into an unstoppable force. As you forge ahead, remember that strategic communication is the key to unlocking your startup’s full potential. With effective PR, you’ll have the power to create a cult following for your brand, captivating investors, customers and industry influencers alike.

So, gear up for the journey ahead and keep your PR game strong. In a world where startups rise and fall with alarming speed, PR will be the secret weapon that separates the legends from the has-beens. Seize the opportunity, and claim your rightful place among the startup elite.

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

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.

In today’s dynamic business landscape where innovation and expansion are crucial for the long-term success of any company, growth equity has emerged as a key financing strategy for businesses aiming to scale rapidly. Growth equity is a form of private equity investment that focuses on providing capital to established companies with high-growth potential. Unlike traditional venture capital, which typically targets early-stage startups, growth equity is anchored towards companies that have already achieved a certain level of stability and revenue generation.

The importance of growth equity in businesses today cannot be overstated. It serves as a catalyst for accelerating growth, enabling companies to capitalise on market opportunities, expand their business either operationally or geographically, and help realise full business potential. By injecting capital into established businesses, growth equity investors offer more than just financial resources. They bring expertise, industry connections, and strategic guidance to help companies navigate complex challenges and maximise their growth trajectory.

The key differentiators of growth equity

One of the primary benefits of growth equity is its ability to fuel expansion without diluting the ownership stakes of existing shareholders. Unlike raising funds through an initial public offering (IPO) or venture capital, growth equity allows businesses to access substantial capital while maintaining control over their operations. This flexibility empowers companies to execute strategic initiatives such as product development, geographic expansion, mergers and acquisitions, or technology upgrades, without compromising their vision or long-term objectives.

Moreover, growth equity investors provide more than just monetary support. They often contribute deep industry knowledge, operational expertise, and a network of valuable connections. Their experience in scaling businesses can help companies refine their growth strategies, optimise operations, and enhance their competitive positioning. By leveraging the expertise of growth equity partners, businesses can avoid common pitfalls, identify untapped opportunities, and achieve sustainable growth.

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

Another critical aspect of growth equity is its positive impact on employment and economic development. By infusing capital into companies with growth potential, growth equity investors facilitate job creation, stimulate economic activity, and foster innovation. As businesses expand and thrive, they generate employment opportunities, contribute to local economies, and drive technological advancements. This virtuous cycle of growth fuels economic prosperity and creates a ripple effect that extends beyond the companies themselves, creating impact on a broader societal scale.

However, unlike early-stage investments, when the goal of companies is to enter series C, this also requires more complex strategies that they may not be familiar with. As such, we turn to experts to understand the ins and outs and learn the ropes of growth equity funding, particularly in the Southeast Asian startup ecosystem.

What does it take to build an ideal growth equity platform for Southeast Asia?

With the goal of answering the question, “What does it take to build an ideal growth equity platform for Southeast Asia?” e27 will be speaking to experts from 500 Global and 500 Southeast Asia at the 2023 Echelon Asia Summit to discuss key trends and insights as well as strategies to take on growth equity funding in the region. The goal of the session is to help startups from the region gain unparalleled knowledge on how to engage with growth equity funding, to provide an insider understanding of the state of the region’s startup ecosystem, and to offer a glimpse at growth equity opportunities available today.

Helping e27 discuss the matter is, 500 Global, a venture capital firm with $2.7B in assets under management. 500 Global invests in founders that are building fast-growing technology companies. They focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth.

500 Global has backed over 5,000 founders representing more than 2,800 companies operating in over 80 countries. They have invested in more than 50 companies valued at over $1 billion and over 150 companies valued at over $100 million (including private, public, and exited companies). Their over 190 team members are located in 28 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

Their over 140 team members are located in more than 15 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

Hear it straight from the experts

Saemin Ahn, Partner at 500 Global, will be serving as one of our esteemed speakers at this year’s Echelon. Saemin has taken on many hats across the broader venture capital ecosystem, serving as an investor and advisor for One Signal, GoTo Group, CodaPayments, and Honestbank, as well as a board member and partner for several other reputable companies including ViSenze, Carousell, and Rakuten Ventures, among many others.

With over twenty years of experience, Saemin brings an unmatched level of expertise when it comes to understanding the complex world of growth equity. With all the growth-stage investment opportunities in Southeast Asia, Saemin will be taking a close look at the region’s vibrant ecosystem and the opportunities available to today’s most exciting innovators. Not only that, he will be providing key strategies on how companies can move from early-stage to series C funding, given the complex differentiators that growth-stage startups must study and anticipate.

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

Speaking with him at the 2023 Echelon Asia Summit is Martin Cu, Partner at 500 Southeast Asia. Martin boasts an extensive background across the Southeast Asian business landscape, having previously worked as Country Head for the logistics platform, Ninja Van in the Philippines, as the Head of Acquisition Marketing for the on-demand streaming service, Hooq, as Marketing Director at the e-commerce platform, Zalora Philippines, and as Device Manager at the telecommunication giant, Globe Telecom.

With his operational knowledge having taken on executive roles at various companies across different verticals and his experience operating within Southeast Asia’s competitive business landscape, Martin will be imparting his unique understanding of the operational aspects of companies that could help them get a leg up as they pursue growth opportunities.

With their combined experience and industry knowledge, Saemin and Martin will be providing dynamic insights that can help the region’s most exciting startups explore opportunities for growth equity in today’s increasingly competitive fundraising landscape.

Moderating the session is Mohan Belani, Co-Founder and CEO of e27.

The 2023 Echelon Asia Summit

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

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

Also read: Echelon Asia Summit is back! Get to know our PR partner

At the Echelon Asia Summit, participants get the chance to attend a diverse range of sessions, including keynote speeches, panel discussions, and workshops, all exploring exciting topics like AI, blockchain, e-commerce, fintech, and marketing. You’ll also have the opportunity to join networking sessions and meet-ups where you can connect with fellow entrepreneurs, investors, and industry leaders.

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

The post Echelon: Strategies for growth equity according to industry experts appeared first on e27.

Did you know there has been a 14x increase in AI startups since 2000?

Artificial intelligence used to be thought of as a futuristic technology reserved for sci-fi movies or the ultra-rich. Today, generative AI is approachable and can be used by anyone.

From students to artists, and even marketing and brand professionals have started utilising artificial intelligence in efforts to improve their content and take some of the stress off of constantly having to create.

Revolutionising content creation and business productivity

One popular program that has increased the accessibility of AI is ChatGPT. This is an artificial intelligence chatbot that is capable of interactive dialogue. Due to the many uses, one million people signed up to use ChatGPT in just the first five days after it was launched. This program uses 45 terabytes of information, an amount equivalent to one million feet of bookshelf space, and it is all found in this one small program. 

Similarly, Google launched the program Bard which is another conversational AI-powered program. 50 per cent of the training data used to program the system comes from public forums, making the dialogue it creates more conversational and less robotic. 

Aside from chatbots, generative AI can be used to create visual content as well. Dall-E is a popular program that is capable of creating stagnant images based on written prompts. More than 1.5 million users have used this tool worldwide to create pictures related to their names, feelings, and more.

Additionally, there are other tools that can be used to create videos from similar text-based prompts. These visual AI tools have three times higher quality and text representation than previous tools that were used for similar uses. To create these high-quality images, data is collected from various other avenues for the AI to ‘learn from’.

Also Read: How business leaders can utilise generative AI in employee communications

Speaking of data, this is how AI programs are “trained” to create the content they do. Generative AI is an algorithm that is fed existing content to create iterations with new content. The more data that is fed to the program, the “smarter” the program gets in creating similar content that is still fresh and unique.

These systems are able to pick up on patterns and create content that aligns with those patterns, which business owners have found to be very useful in marketing strategies. In fact, one of the main goals of marketing is to create a brand that people are always thinking about, and AI tools can be great companions in that task. 

Marketing professionals in major industries are finding ways to solve old problems using generative AI. From legal and professional services to retail goods, to the pharmacy and healthcare industry, generative AI has been used to enhance business productivity by up to 40 per cent. These systems can be used for email marketing, customer service routing, fraud detection, and service chatbots.

By using AI to complete these tasks, which can take up hours of a person’s day or even require full teams to tackle, marketing professionals are able to focus on other projects to improve their businesses. In fact, using personalised brand generative AI tools has been shown to boost marketing results anywhere from 60 per cent to 170 per cent.

While so many businesses are already jumping on the wave of artificial intelligence in marketing, there is still much on the horizon. Despite the rapid growth of AI, specialists explain that it is still in its infancy. It is predicted that as more businesses realise the benefits of generative AI, there will be a greater reliance on it.

It is even estimated that 22 per cent of marketers will use marketing automation and AI intelligence to personalise offers, emails, customer messages, and even paid ads. Small businesses will also have more accessibility to these systems, with 46 per cent reporting they will create new marketing roles in the future. 

It is time to broaden your business’s marketing horizons. With the ability to create written words, videos, music, and more, generative AI is the future for brands’ marketing capabilities. As more businesses look towards the many uses of artificial intelligence, there is no telling what the future of this technology will bring to the way we market and run our businesses. 

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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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The post How marketing will be enhanced through generative AI appeared first on e27.

Eight e27 Connect investors participated in the investment rounds of just two startups — Jenfi and ORA — this week.

Below is a brief profile of each VC firm, with the details of their focus verticals, cheque sizes, and more.

TNB Aura

A Singapore-headquartered firm, TNB Aura uses data-driven methodologies to identify and invest in select companies that are primed for the future and ready to change the very face of their categories. An approved co-investment partner of Enterprise Singapore, it invests US$2-10 million in Series A and B startups.

It is sector-agnostic and invests in pre-Series A/bridge, Series A, and Series B startups across Singapore, Indonesia, Vietnam, the Philippines, Malaysia, and Thailand.

The average cheque size is US$1M to US$10M.

Antler

Antler empowers early-stage founders to find a co-founder or access capital to build and scale startups faster. It partners with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges. It has offices in 25 cities, including Singapore, Indonesia, Vietnam, New York, London, and Berlin.

It invests in all verticals in pre-seed, seed, pre-Series A/bridge, and Series A companies. The cheque size is US$125K to US$5M.

Gobi Partners

Founded in 2002, Gobi is a VC firm with its headquarters and incubation centre in Shanghai, additional offices in Beijing, Hong Kong, and Tianjin, as well as an overseas office in Singapore. A leading investor in early-stage digital media and technology companies in China, Gobi has funded dozens of early to traction-stage companies and continues to invest actively in the region.

The focus verticals are advertising, Big Data, consumer, e-commerce, education, entertainment, finance, healthtech, ICT, media, SaaS, and travel.

It invests across seed, pre-Series A/bridge, Series A, Series B, Series C and above.

Kairous Capital

Kairous Capital is a Malaysia-based regional VC fund specialising in cross-border tech investment between Greater China and Southeast Asia. It focuses mainly on pre-Series A to Series B companies, helping them expand regionally.

The focus verticals are AI, consumer, e-commerce, education, finance, healthtech, insurtech, smart cities, and travel.
The investment locations are Malaysia, Singapore, Indonesia, the Philippines, Thailand, Vietnam, China, and Hong Kong.
The focus stages are seed, pre-Series A, Series A, and Series B. The cheque size is US$500K to US$5M.

A few days ago, TNB Aura, Antler, Gobi Partners, and Kairous Capital invested in Singapore-headquartered telehealth platform ORA’s US$10 million Series A funding round.

Monk’s Hill Ventures

Founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim, Singapore-based Monk’s Hill Ventures (MHV) invests in great entrepreneurs who will change millions of lives through technology. The firm invests in early-stage technology startups throughout Southeast Asia, mainly Series A. It takes a first-principles approach and is sector-agnostic, investing across industries and sectors, including healthcare tech, edutech, fintech, and logistics.

The focus stages are pre-Series A/bridge and Series A.

Korea Investment Partners

Korea Investment Partners, a Korea Investment Holdings company, is a private equity company specialising in small- and mid-cap businesses.

The focus verticals are hardware and SaaS, and the stages are Series C and above.

The investment range is US$8M to US$20M.

Golden Equator Capital

Golden Equator Ventures invests in high-growth technology startups in Southeast Asia. Based in Singapore, Golden Equator Ventures is a subsidiary of Golden Equator Group. It is sector-agnostic, with focus stages being Series A, Series B, Series C and above.

Atlas Ventures

Atlas Ventures is an early-stage VC fund investing in verticals such as cybersecurity, enterprise solution, entertainment, gaming, HR, marketplace, media, productivity & CRM, and SaaS. The investment locations are Singapore, Malaysia, Indonesia, Thailand, and the Philippines.
The focus stages are seed, pre-Series A/bridge, Series A, and Series B.

The investment range is US$500K to US$5M.

On Tuesday, Monk’s Hill Ventures, Korea Investment Partners, Golden Equator Capital, and Atlas Ventures joined the US$6.6 million pre-Series B funding round of Jenfi, a fintech startup specialising in revenue-based financing.

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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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