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Echelon: Exploring the future of fintech in Southeast Asia

Echelon

Mohandass Kalaichelvan, CEO & Founder of Spenmo andPrahlad Jaya, Co-Founder of kurate

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.

Financial institutions have existed since time immemorial. With the advent of modern technology, the way people transact has changed significantly, giving birth to automation, digital payments, cyberbanking and the like — ultimately giving birth to what we now call fintech.

Fintech, short for financial technology, refers to the application of technology and innovation to enhance and transform various aspects of financial services. It encompasses a wide range of digital solutions and platforms that provide financial services, including banking, payments, investments, insurance, lending, and more.

Fintech leverages advancements in areas such as mobile technology, artificial intelligence, data analytics, blockchain, and cloud computing to create more accessible, efficient, and seamless financial solutions. By leveraging these technologies, fintech companies aim to streamline processes, improve customer experience, increase financial inclusion, and disrupt traditional financial models.

In Southeast Asia, the evolution of the fintech space has been driven by a confluence of factors, including regulatory reforms, shifting consumer behaviours, accelerated digitalisation by way of recent global events such as the pandemic, and the rise of innovative startups seeking to bridge gaps in the market.

Also read: Unlocking Echelon communities through instant messaging platforms

In recent years, Southeast Asia has emerged as a vibrant hub for fintech innovation, revolutionising the way financial services are accessed, delivered, and experienced. With its burgeoning middle class, rapidly expanding digital infrastructure, and a youthful population hungry for convenient and inclusive financial solutions, the region has become a hotbed of technological advancements, transforming traditional banking and reshaping the financial landscape.

Of course, none of these innovations were spurred on their own. Over the past decades, many trends in the payments space have helped pave the way for fintech to be the booming industry that it is today. Some of these trends include mobile penetration and digital connectivity, smarter regulatory reforms, the boom of e-commerce and other online payment-reliant services, financial inclusions, and emerging markets.

Without any of these things, fintech wouldn’t be where it is today. But as we move forward and explore future possibilities in both fintech and the whole ecosystem that is reliant on it, we must seek the expert opinions of industry leaders to predict, preempt, and prepare for the future of fintech. As we explore the journey of fintech in this dynamic region, we uncover the key trends that have paved the way for its current state and examine the vast possibilities that lie ahead.

Hear it straight from the experts

At the Echelon Asia Summit 2023, we explore these very unique trends that spurred the rise of fintech, the challenges and opportunities faced by the industry, and the exciting possibilities that are still in store — as well as future obstacles that we may have to navigate as we forge ahead.

In a fireside chat entitled, “Evolution of the Fintech Space in Southeast Asia,” we will speak to experts on the matter. One of the globally reputable institutions that will be gracing the 2-day tech conference is Spenmo.

Spenmo is an all-in-one payables software that provides businesses with visibility, comfort, and control over how, when, and why money is leaving the company. It is the market-leading payments software for growing businesses that brings spend management, corporate cards, automated bill payments, approval workflows, and accounting reconciliation into an integrated view. 

Spenmo has raised over US$36M in venture capital with support from top-tier investors: Y Combinator, Insight Partners, Addition, Salesforce Ventures, Alpha JWC, Global Founders’ Capital, Broadhaven, Operator Partners, and Commerce Ventures.

Serving as its CEO and Founder is Mohandass Kalaichelvan whose string of business experience includes serving in the Corporate Strategy department of Grab, the Revenue Management & Finance department of The Kraft Heinz Company, as a Management Consultant at The Boston Consulting Group, and even as an Operations Officer for the Singapore Police Force, among many others. He will be at the Echelon Asia Summit 2023 to share his thoughts, his insights, his experiences, and his predictions regarding the matter.

Also read: Echelon: The future of foodtech according to experts

Mohandass Kalaichelvan’s expertise not only when it comes to fintech but also in other industries that are reliant on fintech’s capabilities, underscoring the importance of reliable infrastructures that provide the very accessible, efficient, and seamless transacting experience that fintech promises.

Fintech has the potential to reshape the financial industry by democratising access to financial services, improving efficiency, reducing costs, and empowering individuals and businesses with more control over their financial lives. As technology continues to advance, the fintech industry is poised to revolutionise the way we bank, pay, invest, and manage our finances. This is precisely why startup founders, corporates, investors, and other ecosystem enablers need to be equipped with the right tools to properly strategise and map out their infrastructures and hopefully leverage the full potential of fintech services.

Mohandass’ years of experience at Spenmo make him the perfect person to discuss how to go about with those strategies as well as other innovations in the fintech space to anticipate. These innovations include advancements in blockchain and cryptocurrency, the integration of AI and data analytics, as well as expansion into adjacent sectors such as insurtech, wealth management, and financial education — all of which are becoming increasingly important in the region’s growing population.

Joining Mohandass for the session and serving as its moderator is Prahlad Jaya, Co-Founder of kurate, a startup events platform based in Southeast Asia

Echelon Asia Summit 2023

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: 15 exciting startups from Korea will be at Echelon via NCF!

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: Exploring the future of fintech in Southeast Asia appeared first on e27.

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New research report: The nexus between elite university education and startup funding

The dynamic startup ecosystem of Southeast Asia has been witnessing remarkable growth, attracting a surge of entrepreneurs, investors, and accelerators. Among the crucial determinants of startup success lies the ability to secure venture capital investment, making startup funding an integral component of entrepreneurial endeavours.

While various factors influence the likelihood of securing funding, the role of founders’ educational background remains largely anecdotal. Most people in the startup space will intuitively say that founders who went to an elite global university are much more likely to get funding or receive funding. Quantitatively, this has never been shown, at least for startups in Southeast Asia, until now. 

My colleagues and I have recently published a new research report that looks to answer precisely this question: In From Degrees to Dollars: Exploring the Link Between Elite Education and Startup Funding, we ask whether startup founders from Southeast Asia who attended a world-class elite university raise more from VCs than founders who didn’t.

We built a dataset that consisted of nearly 800 startups headquartered in Southeast Asia and which had raised funding after 2017.  We meticulously collected information on the educational backgrounds (undergraduate and postgraduate) of the Founders and ranked the universities according to the USNews ranking for the 2022/2023 academic year.  

The relation between elite education and fundraising 

The findings of our research unveil a significant and positive relationship between attending elite universities and the number of funds raised by startups in Southeast Asia, validating the intuitions held by many in the startup space.

However, this correlation predominantly manifested during the later fundraising stages, specifically when founders pursued their postgraduate studies at these prestigious institutions. In other words, graduating from a renowned institution like Harvard was associated with increased funding during Series C and beyond, but only if the founder pursued postgraduate education there.

Also Read: Skyrocketing Startup Funding in APAC: Unveiling the Success Factors

This phenomenon can be attributed to several factors.

Firstly, a degree from a top school, such as an MBA or a PhD in sciences, signals a certain level of business acumen or specialised expertise, which can provide an edge over other founders.

Secondly, founders with prestigious postgraduate education often benefit from an extensive network of alumni, mentors, and industry professionals, enabling them to establish valuable connections with potential investors and strategic partners. These connections prove invaluable in securing larger funding rounds and establishing credibility within the dynamic startup ecosystem.

Interestingly, our study did not identify a significant correlation between educational background and funding during the seed stage. Most seed-stage startups raised comparable amounts, regardless of their founders’ educational backgrounds.

However, it is worth noting that graduating from an elite institution may increase the likelihood of receiving funding at the seed stage, acting as a foot in the door. Some venture capitalists explicitly target founders with an elite educational background, indicating that perceptions of certain skills or network advantages may be associated with attending renowned institutions.

Nonetheless, due to the limitations of our dataset, we cannot directly compare the number of startups that secured funding to those that did not.

In conclusion

Our research underscores the importance of postgraduate education from prestigious universities during the later stages of fundraising for startups in Southeast Asia. However, the limited correlation between educational background and funding at the seed stage suggests that seed-stage investors prioritise factors beyond academic credentials.

Nevertheless, founders who lack key leadership members with postgraduate pedigrees may benefit from strategically augmenting their teams with individuals possessing strong educational backgrounds from elite institutions. This approach can enhance their prospects for securing funding during later stages, fostering long-term growth and success.

Furthermore, these individuals can contribute valuable skills, expertise, and network connections, which significantly benefit the startup’s fundraising efforts and overall trajectory. By leveraging these insights, startups can navigate the intricacies of the funding landscape and position themselves for sustainable growth in the dynamic startup ecosystem of Southeast Asia.

Read the full report here.

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Echelon: Empowering Southeast Asia’s HealthTech revolution

Echelon

Peter X Nguyen, CEO and Co-Founder of Buymed and Chairman and Co-Founder of thuocsi.vn and Jingjing Zhong, Founder in Residence at Antler

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 recent years, Southeast Asia has been witnessing a transformative wave of innovation that is reshaping the healthcare landscape. The rapid advancement of technology, coupled with the region’s growing digital infrastructure, has paved the way for the spurring growth of the HealthTech sector, revolutionising the way healthcare is accessed, delivered, and managed.

From telemedicine platforms and mobile health applications to artificial intelligence-driven diagnostics and wearable devices, the realm of HealthTech in Southeast Asia has become a powerful force driving efficiency, accessibility, and affordability in healthcare.

With a population of over 650 million people, Southeast Asia is home to a diverse range of healthcare challenges. The region faces issues such as limited access to quality healthcare facilities, a shortage of healthcare professionals in remote areas, rising chronic diseases, and the need for affordable healthcare solutions. HealthTech has emerged as a promising answer to these challenges, bridging gaps and transforming the way healthcare services are being rendered.

Moreover, the recent COVID-19 pandemic has acted as a catalyst for the rapid adoption of HealthTech solutions. As the virus spread, traditional healthcare systems faced immense strain, leading to the surge in demand for telemedicine platforms, remote monitoring devices, and digital health tools. Governments and healthcare institutions have recognised the potential of HealthTech in combating the crisis and have actively supported its implementation and integration into existing healthcare systems.

Also read: Echelon: Exploring the future of fintech in Southeast Asia

However, alongside the impressive growth of HealthTech in Southeast Asia, there exists a complex regulatory landscape that necessitates careful navigation. Each country in the region has its own regulatory framework governing the development, deployment, and usage of HealthTech solutions. Regulatory bodies are faced with the challenge of striking a balance between fostering innovation, ensuring patient safety, and upholding data privacy and security.

As the HealthTech revolution continues to unfold in Southeast Asia, it holds the promise of transforming healthcare delivery and improving health outcomes for millions of people. The convergence of technology, regulation, and digital evolution has set the stage for a new era in healthcare, characterised by personalised and accessible services, efficient healthcare systems, and ultimately, empowered patients. By understanding the drivers and challenges in this ever-evolving landscape, stakeholders can harness the potential of HealthTech to build a healthier future for the region.

Understanding the complex aspects of HealthTech in Southeast Asia

It is crucial for all ecosystem stakeholders in Southeast Asia to fully understand the complex nature of HealthTech due to its profound implications for healthcare and the well-being of individuals in the region. By exploring this topic, we gain insights into the transformative power of technology in healthcare delivery, paving the way for improved access, efficiency, and patient outcomes.

By understanding this subject, we shed light on the unique healthcare challenges faced by Southeast Asia. The region grapples with issues such as limited access to quality healthcare services, especially in rural and remote areas, the increasing burden of chronic diseases, and rising healthcare costs. HealthTech has the potential to address these challenges by providing virtual consultations, remote monitoring, and self-management tools, making healthcare more accessible and affordable. By discussing the role of HealthTech in addressing these specific challenges, we can foster dialogue and collaboration among stakeholders to further elevate our HealthTech infrastructures and find effective and sustainable solutions.

Furthermore, it helps raise awareness among healthcare professionals, policymakers, and the general public about the transformative potential of technology in healthcare. It promotes a broader understanding of the opportunities and challenges associated with HealthTech, enabling informed decision-making, effective policy formulation, and active engagement in shaping the future of healthcare in the region.

One of the industry leaders catalysing these important discussions is Peter X Nguyen, CEO and Co-Founder of Buymed and Chairman and Co-Founder of thuocsi.vn, who will be speaking at this year’s Echelon Asia Summit. The HealthTech company is responsible for Thuocsi.vn which is building a HealthTech platform for Vietnam and Southeast Asia that will elevate quality and access to healthcare through transformative technologies for practitioners, patients, and all other stakeholders in between. This is why the company’s mission is, “We build health ecosystems no one else has dared to build.”

Also read: Crafting compelling narratives: A communication workshop for TOP100 Semi-Finalists at Echelon Asia Summit 2023

Buymed started its mission focusing on the pharmaceutical industry in Vietnam, enabling a deeper, more trusted, and more beneficial relationship between pharmaceutical manufacturers, distributors, logistics providers, and pharmacists. Now, they are extending that relationship to include other primary care providers and other stakeholders in healthcare.

Peter is a practitioner in strategy, operations, valuations, supply chain, distribution, and marketing across Asia with a particular focus and interest in healthcare and pharmaceuticals. With extensive, hands-on experience in China, Vietnam, Philippines, Australia, Singapore, and more.

Through his work, Peter has focused on a variety of industries including healthcare and pharmaceuticals and is passionate about improving healthcare access in Vietnam, including helping raise awareness of diabetes prevalence in the country. With his experience in healthcare, he has identified a need for a cloud-based healthcare practice management and distribution/sourcing platform in Vietnam and emerging markets. Based on this, along with his co-founders Hoang and Vu, he embarked on a mission to turn thuocsi.vn into a platform that lowers costs and improves access to healthcare in Vietnam and emerging markets.

At the Echelon Asia Summit 2023, Peter will be speaking in a fireside chat entitled, “HealthTech Revolution in SEA: Exploring Growth, Regulation, and Digital Evolution” to share his thoughts and predictions on the future of HealthTech in the region.

Joining him as the moderator of the session is Jingjing Zhong, Founder in Residence at Antler

Echelon Asia Summit 2023

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: Unlocking Echelon communities through instant messaging platforms

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: Empowering Southeast Asia’s HealthTech revolution appeared first on e27.

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Unlocking deeptech for sustainable development: SDTA launches revamped venture building programme

In today’s rapidly changing world, the importance of sustainability has never been more evident. As we face the urgent need to address environmental challenges and build a more resilient future, it is crucial to leverage the power of technology and innovation, and this couldn’t be more pertinent for the Asia-Pacific (APAC) region; APAC accounted for around 53 per cent of global carbon emissions in 202​​1 and has been responsible for more than 80 per cent of global growth in carbon emissions over the past decade.

As such, tech startups are emerging as key players in driving positive change and creating a greener planet.

The role of tech startups in building a greener planet extends beyond their innovative products and services. These startups are fostering a culture of sustainability, promoting responsible business practices, and influencing larger corporations to adopt more eco-friendly approaches.

They are inspiring change, challenging traditional norms, and catalyzing a paradigm shift towards a more sustainable and circular economy. The Singapore Deep-Tech Alliance (SDTA) is one such organization at the forefront of driving sustainability-focused deep-tech ventures in APAC.

Also Read: Echelon: Achieving a sustainable model according to Kumu

Towards a greener, more sustainable future

SDTA has unveiled its revamped venture-building programme for the SDTA24 Cohort at the annual Sustainable Innovation Asia 2023 event. As a sustainability-focused deep-tech venture builder, SDTA aims to accelerate progress towards sustainable development by unlocking deep-tech solutions that align with the global Sustainable Development Goals.

The Sustainable Innovation Asia event serves as a platform for Alliance Partners, founders, and thought leaders within the deep-tech venture ecosystem to collaborate and gain valuable insights. It brings together hundreds of participants, fostering a thriving ecosystem for deep-tech ventures. The event’s theme, “Unlocking Deeptech to Fast-Track the Global Goals,” emphasizes the collective effort required to address pressing societal and environmental challenges.

SDTA’s venture-building programme, now in its third year, plays a crucial role in helping entrepreneurs bring advanced technologies to market. The programme spans nine months and comprises three phases, each tailored to support founder team formation, technology commercialization, customer validation, product development, and overall business building.

For the SDTA24 Cohort, the programme features new venture tracks designed to address key sustainability challenges across various industries. These tracks include Manufacturing, Semiconductor, Healthcare, Energy, and a horizontal track called Climate tech, which spans the other four verticals. SDTA aims to enhance partnerships with entrepreneurs in these tracks and gain a deeper understanding of industry business needs, best practices, and competitive advantages.

Fostering a collaborative ecosystem

To further strengthen the venture-building process, SDTA has assembled a Senior Advisory Board consisting of experienced leaders from various fields. These advisors bring decades of experience and expertise to provide strategic insights, network connections and thought leadership. The Senior Advisory Board will play a vital role in guiding future cohorts and facilitating strategic partnerships.

SDTA has also introduced four collaboration models with Alliance Partners to foster tangible and results-driven collaborations. These models enable ventures to leverage the technology, business expertise, and industry insights of Alliance Partners, accelerating innovation and growth strategies. The collaboration models include New Venture Creation, Joint Go-to-Market, Be the Exclusive Launch Customer, and IP Licensing.

Under these models, ventures have the opportunity to receive investments from Alliance Partners and receive guidance throughout the process of taking advanced technologies from the lab to the market. SDTA has already established partnerships with notable organizations such as TÜV SÜD, OMRON Asia Pacific, Lenovo Singapore, Avnet, and Sunningdale Technologies. New Alliance Partners for 2023 include Allnex, Dentsu Singapore, Micron Technology, Norgren, Zuellig Pharma, and Panasonic R&D Center Singapore.

Entrepreneurs passionate about Climate Tech and working within the industries of Manufacturing, Semiconductors, Healthcare, and Energy are encouraged to apply for the SDTA24 Cohort. The application deadline is August 1, 2023. Selected ventures will benefit from the vibrant ecosystem provided by SDTA, gain access to key research institutions, and receive guidance from industry experts throughout their proof-of-concept projects and business-building activities.

The SDTA24 Cohort presents a unique opportunity for entrepreneurs to collaborate with Alliance Partners, access valuable resources, and contribute to the sustainable development of Singapore and the world. By harnessing deep-tech solutions, these ventures can make a transformative impact on industries, address societal challenges, and build a more sustainable future.

Also Read: How to incorporate sustainability into corporate strategies

Calling all green enthusiasts

The partnership between technology and sustainability is a powerful combination that holds the potential to reshape industries and create a more harmonious relationship between human activities and the environment. It is through the collaboration and collective efforts of startups, investors, industry leaders, and policymakers that we can truly unlock the potential of technology for sustainable development.

As we embark on this journey towards a greener and more resilient future, it is essential to celebrate the achievements and initiatives of tech startups in APAC. Their commitment to sustainability, coupled with their innovative spirit, is paving the way for a brighter tomorrow. By embracing their ideas, fostering collaboration, and supporting their endeavours, we can build a more sustainable, inclusive, and prosperous world for generations to come.

More information about the SDTA24 Cohort and the collaboration models can be found here. Corporations interested in becoming Alliance Partners and joining the industry network can also find more details on the website.

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 groupFB community, or like the e27 Facebook page

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Echelon: Charting a path for Southeast Asia’s fintech unicorns

Echelon

Andrea Baronchelli, Co-Founder and CEO of Aspire and Sheryl Chen, Head of Content, Asia, for Money20/20

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 Southeast Asia’s dynamic tech ecosystem, we have witnessed the region’s digital economy grow at an impressive pace, accompanied by a rapidly expanding middle class and supportive regulatory policies. As a result, Southeast Asia has become an ideal ecosystem for innovations across different verticals.

With its increasingly potent digital economy and wider internet penetration, the region has become ripe for fintech startups to flourish, giving rise to multiple fintech companies addressing gaps and challenges in the financial space. With all this promise and room for exponential growth, it begs the question: “What will it take to build Southeast Asia’s next fintech unicorn”

The pursuit of Southeast Asia’s next fintech unicorn is an ongoing endeavour, as the region continues to evolve and present new opportunities, as well as challenges to address. Building the next fintech unicorn demands a unique blend of strategic vision, adaptability, and execution prowess. It requires navigating a diverse array of markets, regulatory frameworks, and cultural nuances. So, what does it truly take to establish Southeast Asia’s next fintech unicorn?

Also read: Unleashing growth, learning, and networking at Echelon 2023

Firstly, we must understand the complex world of fintech and the fundamental factors that play a pivotal role in the journey towards creating a fintech unicorn in Southeast Asia. We must explore the ever-evolving landscape of the region’s fintech ecosystem, untapped market potential, the technological advancements shaping the industry, and the critical strategies that aspiring startups must embrace to gain a competitive edge.

By drawing insights from industry experts, investors, and successful fintech entrepreneurs, we uncover the essential ingredients needed to navigate the Southeast Asian market not only as a terrain for burgeoning tech startups to explore but also for everyday consumers to navigate. From forging strategic partnerships and fostering collaborations to addressing financial inclusion challenges, we must examine the multi-faceted nature of the region and the valuable lessons we can learn from those who have triumphed.

Answering the important questions

To start with, what exactly is a unicorn?

In the business and startup world, a unicorn refers to a privately held startup company that has reached a valuation of $1 billion or more. The term “unicorn” was coined to represent the rarity of such companies, as they were once considered to be mythical creatures in the investment landscape.

These unicorns are typically disruptive in nature, leveraging innovative technologies or business models to address significant market gaps or meet emerging consumer demands. They often attract substantial investments and garner attention for their potential to become market leaders or have a significant impact on their respective industries. Some of the most recognisable unicorns in the region include Grab, Gojek, Traveloka, and many others.

Just like these companies operating across different verticals, fintech startups in the region aim to address pressing challenges faced by everyday consumers — whether it is in the form of daily transactions or in the form of broad digital inclusions. Fintech startups play a pivotal role in expanding financial inclusion by leveraging technology and digital platforms. They provide previously underserved populations, particularly in emerging markets, with access to banking services, digital payments, affordable loans, and investment opportunities. This democratisation of finance empowers individuals, small businesses, and entrepreneurs to participate actively in the economy, reducing inequality and driving economic growth.

Also read: Meet the 18 investor-judges for this year’s TOP100 Program

Moreover, fintech startups challenge traditional financial institutions by offering innovative alternatives to traditional banking and payment systems. Digital wallets, peer-to-peer lending platforms, and robo-advisors are redefining how financial services are accessed and consumed. This disruption fosters healthy competition, driving down costs and enhancing transparency. Consumers benefit from more affordable and tailored financial products and services, as fintech solutions reshape the industry.

What ultimately sets fintech startups apart from traditional financial institutions lies in automation and digitisation. Fintech startups leverage technologies such as artificial intelligence, blockchain, and cloud computing to streamline processes, reduce paperwork, and enhance operational efficiency. This leads to cost savings for both financial institutions and consumers. Transactions become faster and more secure, while administrative tasks are automated, allowing for more efficient use of resources and improved customer experiences.

With such a massive impact also comes great strides not only on an operational level but also on a regulatory one. Reaching a unicorn status is no easy feat for startups in the fintech space. Several factors contribute to the challenges they face such as trust and customer adoption, capital intensiveness, competitive landscape, scalability and profitability, as well as compliance risks and regulatory hurdles that make it hard for fintech startups to cross borders — largely due to the strict and varying regulatory models specifically set for monetary movement across different territories.

Learning from the experts

With all these complex issues surrounding the topic, we turn to leading experts to fully diagnose the state of fintech in the region and to answer questions on how fintech startups must strategise as they gear for unicorn status. As such, the Echelon Asia Summit will be featuring a special fireside chat on the topic, “What will it take to build SEA’s next fintech unicorn?” with guest speaker, Andrea Baronchelli, Co-Founder and CEO of Aspire.

Aspire is the all-in-one finance operating system for new-age businesses that helps companies save time and money with borderless payments, corporate cards, expense management, and more. Their mission is to empower the next generation of entrepreneurs with the financial tools they need to realise their company’s full potential. Headquartered in Singapore with offices in Indonesia and Vietnam, Aspire is backed by some of the world’s best VCs, including Y-Combinator, dubbed as the number 1 startup incubator in the world.

Describing himself as an “entrepreneur at heart,” Andrea loves finding solutions to challenging problems, getting things done, and managing hyper-growth products. Apart from his role steering the ship for Aspire, he has also previously taken on roles for various other companies, such as the Chief Executive Officer and the Chief Marketing Officer for Lazada Group, as a Global Venture Development officer at Rocket Internet SE, and as an Investment Banking Analyst for Consumer Goods & Retail at Jeffries, among many others.

Also read: Echelon: Empowering Southeast Asia’s HealthTech revolution

With his plethora of experiences in fintech and beyond, Andrea will be bringing his expert insights and key industry knowledge to this year’s Echelon Asia Summit. He will also be joined by Sheryl Chen, Head of Content, Asia, for Money20/20. Money20/20 is a pioneer when it comes to organising the largest global events enabling payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data, and technology.

Echelon Asia Summit 2023

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.

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: Charting a path for Southeast Asia’s fintech unicorns appeared first on e27.