Singapore-headquartered global software services and consulting company Apar Technologies has made an undisclosed strategic investment in AI-powered data analytics services and solutions firm BigTapp Analytics.

BigTapp’s expertise in data analytics, data engineering and data science will enable Apar to achieve its strategic growth objective of doubling its customers within three years. Apar aims to expand its data analytics offerings for customers in Singapore, Malaysia, Thailand, UAE, India, and the US.

Apar seeks to fuel digitisation in various sectors in Singapore, such as financial services, retail/FMCG, and manufacturing.

Also Read: Being prudent in spending should be at the heart of every management conversation: Aerodyne CEO

BigTapp, with its advanced analytics and decision science services and solutions, empowers businesses to transform data into actionable insights, driving better decision-making and improved business outcomes.

“Our Generative AI-powered solutions are receiving strong market traction across industries. Apar’s investment comes at the right time and will fuel our R&D roadmap to further develop AI & Generative AI capabilities for our customers in the financial, manufacturing and FMCG industries with goals such as enhanced customer experience and optimal and sustainable supply chains,” added Venkata Narayanan, Founder and CEO, BigTapp.

Apar has a portfolio of services and solutions across automation, CRM, cloud, IoT, custom application development, collaborative development centres, HRtech and technology consulting. With an employee base of over 2,400 professionals, Apar operates in multiple countries across Asia Pacific, the Middle East, and the Americas.

Kushal Desai, Investor and Board Member of Apar, said: “BigTapp’s approach to delivering AI-driven data and analytics solutions will be a game changer as organisations become more agile in their strategies and business operations, and embrace Generative AI.”

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Apar Technologies invests in Singaporean data analytics firm BigTapp appeared first on e27.

We are thrilled to announce that our flagship event, Echelon 2023, will feature an exclusive writing workshop designed to empower participants with the skills and knowledge to become influential voices in the startup community. This workshop is your opportunity to unlock your thought leadership potential and make a lasting impact on the startup ecosystem.

At e27, we believe that thought leadership is not just reserved for industry veterans or seasoned experts. We recognize the immense value that fresh perspectives and innovative ideas bring to the table. That’s why we have curated a comprehensive workshop agenda that will guide you through the process of establishing yourself as a thought leader in the dynamic world of startups. Over the years, we have nurtured over 2000 leaders in the SEA ecosystem to share their views and voices with the world.

The e27 Contributor Programme is dedicated to empowering founders, investors, and innovators like you with the tools and platform to build and grow your businesses. By becoming a contributor, you gain access to an array of exciting perks and opportunities that will elevate your personal brand and propel you towards thought leadership stardom.

Also Read: Put yourself in the spotlight with our new contributor-only leaderboard

Amplify your reach

• Get featured on e27.co, the leading technology news portal in Southeast Asia, and bask in the spotlight of our massive two million+ reader base and 50,000+ newsletter subscribers.
• Make your mark in the startup ecosystem and gain recognition for your expertise by sharing valuable insights and innovative ideas.
• Attract business, speaking and partnership opportunities

Elevate your personal brand

• Unlock a world of exciting speaking opportunities that showcase your unparalleled knowledge and expertise in the startup world.
• Elevate your personal brand and position yourself as an industry leader through thought-provoking articles and contributions.

Join the prestigious e27 Voices Hall of Fame

• Secure your place in the prestigious e27 Voices Hall of Fame, a coveted list of 50 emerging thought leaders in the Southeast Asian ecosystem.
• Join the ranks of the most influential and game-changing entrepreneurs and innovators in the region.

Unparalleled exposure

• Enjoy unparalleled exposure with your brand promoted three times daily across e27’s powerful social media channels.
• Leverage our extensive reach to amplify your voice and expand your network of potential employers, investors, clients, and partners.

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

Find us at Echelon 2023

The thought leadership masterclass will be held on June 14 at Echelon 2023 and will be an immersive experience where you will learn the art of effective thought leadership and receive guidance from industry experts.

Our facilitator will provide practical exercises and valuable tips to help you craft compelling content that resonates with your target audience. You will also have the opportunity to engage in interactive discussions and build connections with like-minded individuals on their own thought leadership journeys and learn from their experiences.

To ensure that all your burning questions are answered, we have set aside dedicated time for a FAQ session. Our facilitators will address any queries you may have about thought leadership, the e27 Contributor Programme, or the workshop itself.

By the end of the workshop, you will walk away with a solid foundation in thought leadership and the confidence to share your expertise with the world. The skills and knowledge gained will extend beyond Echelon 2023, empowering you to continue your thought leadership journey and make a lasting impact in the startup ecosystem.

Join us at Echelon 2023 and unleash your thought leadership potential. Don’t miss this exclusive opportunity to learn from industry experts, connect with like-minded individuals, and take your startup journey to new heights.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva Pro

The post From expertise to influence: A thought leadership masterclass at Echelon 2023 appeared first on e27.

The value of investing in sustainable technology and practices materialises across several dimensions. First off, I’m sure everyone has witnessed that organisations are facing increasing regulations and investor and customer pressure for transparency in their actions towards sustainability.

That said, it’s a mistake to view this as merely a constraint while trying to achieve business goals. It is better to see it as an opportunity to create value. 

Sustainable technology and practices can help businesses become more resilient in the fast-changing world we are living in, where crises are happening more frequently and in more diverse ways. Both tech and culture change can help embed strong values into daily practices and allow companies to gradually transform towards more sustainable business models.

When it comes to business value – people, processes and finance are all affected. Technology helps us to measure progress, benchmark results and implement growth, while practices allow us to pass a positive mindset and educational value through our employees and communities in the long term.

In the end, adopting early and often is a win-win situation for everyone involved. 

Examples of sustainable technology available today

Sustainable technology has already penetrated virtually every market. I couldn’t rightly sum up all the innovation we’ve seen, even just in 2023.

But I’d like to point out that beyond the spotlight on the fundamentals of sustainability and ESG, such as carbon accounting, ESG reporting, and sustainability training, we also see new business models emerge and companies disrupting their industries.

Everyone has Patagonia in mind as a global champion in the clothing industry. We also see companies like Humanitix disrupting the US$3.7 billion annual global booking fees in the ticketing industry. Or Decathlon targeting 25 per cent of revenue from second-hand by 2025. 

Big data has been a challenge and, again, an opportunity for businesses for a long time. A particular culmination of that opportunity, I believe, is in sustainability. It touches every arm of your organisation, and the first place everyone needs to start is measuring and understanding.

Everyone, and every business, wants to reduce their carbon footprint – that’s nothing new. In the past, this was quite a complexity, and there were often misgivings around how accurate or manageable this data was, but this has changed. 

Also Read: Greentech revolution: Catalysing software’s success to drive a sustainable future

The transformation of people is also part of this new era of sustainable tech. Generating awareness and ensuring training is key in this sustainability journey, but how can we implement and track this transformation?

Technology answers these questions, and solutions on the market today address these issues in the most streamlined way possible. Our open-source PALO IT Impact Tracker is one such tool – we can see, in an all-in-one dashboard, where there are already successes, progress to be made, and how to take action. 

Challenges in transitioning to sustainable methods

We’re in a period where everyone is talking about sustainability, but early adopters are implementing it to their advantage. 

As we look towards the future, it’s crucial to consider resilience in the face of ever-evolving social norms and environmental changes. For businesses, this entails financial, operational, and regulatory resilience. If you can assess where you stand today, develop a blueprint for change, and take action – it’s a real boon for your organisation. 

When we talk about carbon footprint and our impact on the planet, those advantages are fairly obvious. A business that cares about the world and community it operates in will fair better down the road. But what’s not as obvious is the advantage a sustainable business model can have on our bottom line. Investing where it counts, making existing operations more efficient, enabling rapid redesign of systems, improving decision-making and quantifying results.  

Some businesses, right now, are being “forced” into this arena due to increasing government regulations, but dare I say they’re lucky. The implications for businesses operating in yet-to-be-regulated spaces are in an even more advantageous position. Grab the opportunity and run with it, and you’ll see the results, and the resilience, down the line. 

Also Read: ESG empowerment: Fueling Malaysia’s SMEs for a sustainable future

Leading sustainability transformation from within

This goes back to what I mentioned about sustainability awareness and training, which is picking up steam day by day. Employees today, especially the younger generation, have made it an absolute prerequisite that the business they work for cares about something more than profit.

I don’t want to sound like a broken record, but I’ll say it once more, it’s an opportunity, not a challenge! Investing in training and promoting responsible practices is a big win for any future-focused organisation. 

Previously this aspect was a bit humdrum among businesses – do it and get it over with. The culture today has changed for the better. Systemic awareness will ensure your team knows that their work matters, will educate and empower them on how to take action, and will build abilities into their skill sets that they can integrate into products and services that are already on the market and those that are yet to come. 

Consequences of not reaching ESG targets

The consequences are what they’ve always been when facing large-scale change. Being left behind. In every iteration of the industrial revolution, we’ve seen businesses that keep wanting to do things the old way go the way of the dinosaurs, and those that are willing to adapt to change reap the benefits.

We’ve chosen the latter, clients we work with have chosen the latter, and the results speak for themselves. Today, we are living in a new type of revolution where embracing sustainability can generate strong value in terms of business, the market valuation of the business, better access to capital, public subsidies obtention, cost savings, a new stream of revenues, as well as in terms of reputation, brand image, employee attractiveness and retention. 

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva Pro

The post The transformative power of sustainable technology and practices for businesses appeared first on e27.

I recently read an article titled “Corporate Accelerators are Dead”, and panicked a bit. We had just launched our AD Stretch Accelerator Program last year! After taking a moment (and having a calming tea), I reflected on our company’s, as well as my own, “accelerated” journey from the viewpoint of a corporate denizen. And here is the upshot—corporate accelerators as innovation theatre are dead, and rightfully so. However, there are some underlying factors that can help accelerators be an effective open innovation tool that creates value for all stakeholders. 

Who owns the problem? And the solution?

“Working with startups” is an exciting phrase for different levels of employees involved with accelerators. However, accelerators often fail because they are locked into providing mentorship from middle-level managers who tend to address the task of unlocking solutions with cookie-cutter pitch presentations. The purpose of startup accelerators should be to solve fundamental business problems that tie back to the company’s vision and strategy. This should find resonance at the C-suite level and earn sponsorship and buy-in.

For our accelerator, at the outset, we created brainstorming sessions with our cross-functional business teams, where they defined their most pressing issues and then discussed whether a particular problem could be solved through a startup collaboration. Only when we had a plurality of voices behind a particular problem did we bring it forward as an “AD Stretch business challenge.”

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

Just as importantly, the solution would be owned by the business units. The accelerator’s role is to provide a sandbox and test ideas that we would not be able to test in normal business operations. Continuous and open conversations with every connected piece, including customers, stakeholders and suppliers, can drive positive change. Our pilots with Greenplat and Wastelabs exemplify this collaboration. During the pilots, we brought together our own teams, waste suppliers, converters, and end-users to track our 20t (923m3) waste and also increased AD Circular (our global recycling project) engagement in Brazil by connecting with brands and converters. As a result, Wastelabs AI platform is now being considered a vital tool in waste logistics for AD Circular globally. 

What is the offer?

While corporations can provide scale, opportunity and financial support to startups, it’s important to remember the value that startups can bring to corporations by challenging them to step out of their comfort zones, take risks and experiment.

In AD Stretch, we structured the first two cohorts as non-dilutive. We did this because we saw the collaboration as being instructive to all the participants and because it accelerated our business understanding. We also wanted to be “startup friendly” – this meant tailoring our legal agreements and interactions with the cohorts to be as fair as possible. In general, we treated the startups exactly how we would like to be treated.

This approach paid dividends both tangible and intangible. Our first cohort participants, the startups and employees, saw the investments that we put behind the program and rallied enthusiastically. We tested solutions with StaTwig to build a resilient supply chain by adopting technology in a traditional industry. During the pilot, we focused on the pharma industry by tracking a COVID-19 vaccine rollout in Costa Rica. Here, we connected over 1200 hospitals and pharmacies, but soon realised applications beyond pharma. While working with MakeGrowLab, we tested high-performance nanofiber from biowaste, which can improve paper properties and replace hard-to-recycle plastic for high-value segments. Our teams tested solutions and worked together to make them commercially viable while adapting sustainable solutions at scale.

What are the metrics of success?

Fundamentally, an accelerator needs to show financial return, albeit with an element of strategic patience. We see the program as a pipeline into our product and solutions portfolio as well as our very active Ventures program. 

However, as Danny Allouche, the company’s chief strategy officer, continuously reminds us, “Long-term financial returns aside, a core part of this program is around fundamental learning and culture change.” In the packaging industry, which has long been quite conservative, learning and culture change are fundamental accelerator building blocks. They are best exemplified by the dashboards we share around “What went well and what did not.”

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

As we invest in startups we support them as they test, experiment and learn so that innovations can come to market and deliver the desired impact far quicker than if we all chose to do it alone. 

AD Stretch as a platform enables us to constantly challenge ourselves, experiment without fear of failure, and create sustainable solutions at speed. What would take years, possibly decades alone, is happening in a matter of months, and this is why collaboration is at the heart of what we do. More importantly, it is changing how we work and incorporate technology to build impactful and sustainable solutions. 

Strategic Marketing Manager Sandra Patricia Alvarez says of her experience: “After 28 years with Avery Dennison in Latin America, the AD Stretch Accelerator Program has allowed me to break paradigms and provide innovative solutions beyond physical labels, enabling better consumer connections for brand owners. It’s been an extraordinary opportunity to work on marketing solutions and gain a new perspective on the business.“

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Our AD Stretch Accelerator Program’s second cohort received an overwhelming response of over 300 applications from startups around the world. Now, the time has come to showcase the seven exceptional teams that have made the cut. To get a glimpse of innovation in the packaging industry’s future, see our official press release. Here, you will find more details about the startups, their groundbreaking ideas and the immense potential they hold.

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This article is produced by the e27 team, sponsored by Avery Dennison

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post Unlocking potential: The evolving role of corporate accelerators appeared first on e27.

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.

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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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva Pro

The post New research report: The nexus between elite university education and startup funding appeared first on e27.

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.

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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.

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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 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.

The COVID-19 pandemic encourages not just the rapid expansion of e-commerce but also the shift in consumer preferences from in-store to online buying. However, instead of just buying, consumers frequently prefer to seek out novel, stimulating experiences.

Therefore, e-commerce will be a solution that every company should work towards to boost marketing effectiveness and boost sales.

The trend of online buying in e-commerce

The use of social media, such as Facebook, Tiktok, Instagram, and Zalo, to sell products online has become more popular instead of just selling on separate e-commerce sites. According to Retailasia (2021), shoppertainment is about to become a shopping trend in Southeast Asia.

About 82 per cent of shoppers discover new or different brands to purchase online through short videos, and 55 per cent make a surprise purchase based on these videos, despite having a shopping list in hand.

The Vietnam e-commerce White Paper also demonstrates that the number of individuals who watch advertising read comments, and read reviews on the website is a factor in why consumers pick Google AdWords websites or apps for their online buying. Network accounts for 29 per cent and 41 per cent, respectively, of online shoppers.

When electronic communication is an unavoidable development in e-commerce, it can be seen that shoppertainment has become a shopping trend not only in Vietnam but also in Southeast Asia. Because it not only makes customers’ online buying more convenient but also gives businesses a chance to develop future business plans.

The e-commerce “shoppertainment” trend

Trends in consumer entertainment and chances for shops to interact with customers in Vietnam. The practice of shoppertainment’ has spread throughout Southeast Asia, not only to Vietnam. Vietnam’s e-commerce is expected to rise on average by 29 per cent between 2022 and 2025, from US$14 billion in 2022 to US$52 billion in 2025.

Also Read: Hybrid work becoming the status quo in SEA except in Vietnam: Report

The COVID-19 pandemic has actually been demonstrated recently. The year 2019 accelerated the demise of conventional commerce and marked the emergence of e-commerce by promoting the movement of consumer behaviour from traditional (offline) to online. 

Shopping and entertainment are frequently combined, but this is the way that shopping will develop in the future as e-commerce takes centre stage. Consumers constantly strive to keep up with the rising trends in online shopping, not only by making purchases but also by engaging in unique and immersive experiences.

Trends Vietnam claims that using celebrities as brand ambassadors or “burning money” on discount codes to keep customers and make them loyal is not a sustainable strategy for shops. By using shoppertainment, an entertainment platform that combines shopping, you can become a significant part of consumers’ lives. Shoppertainment will blur the lines between selling, entertainment, and consumers’ daily lives through immersive interactive experiences like live streams, photos, videos, and video games.

The Vietnam e-commerce white paper in 2020 also demonstrates that global B2C e-commerce revenue is anticipated to rise from US$4,280 billion last year to US$6,388 billion in 2024, in addition to the significant expansion in the number of internet users engaging in online shopping.

Which, it is anticipated that Southeast Asia alone will grow from $62 billion in 2020 to US$172 billion in 2025. the percentage of new online shoppers among all online shoppers in China. Vietnam has the highest percentage (41 per cent) in Southeast Asia.

Shoppertainment makes a breakthrough

In the last two years, Ms. Bao Ngoc (Ho Chi Minh City)  has become acquainted with online shopping applications introduced by colleagues. It took two-three minutes, and she ordered and paid for all the necessities for the family, from cooking oil, spices, food, and soap. Previously, with the same amount of goods, she had to spend a few hours going to the market and supermarket.

She also formed the habit of hunting discount codes and watching flash promotions. From the beginning of 2019, the trading floors created interactive games and then exchanged prizes, Ms. Ngoc also participated regularly. “Every day, I spend a few minutes playing. Many games hosted by famous comedians and actors help me both relieve stress and collect coupons to save family expenses,” Ms. Ngoc said. 

More sensitive to technology, Quoc Minh (Hanoi) also actively participates in Facebook groups to share online shopping experiences. He is especially interested in topics such as how to play to increase his chances of winning and which games have high reward values… Thanks to that, he often buys expensive items such as technology products and functional foods that are cheaper than the listed prices.

Conveniences from shopping combined with entertainment for consumers

Shoppertainment gives consumers information about products, as well as being able to discover products before shopping, helping consumers experience product quality and easily choose the right product. Consumers prefer to shop for products, such as clothing, from live streams because they are more realistic when viewing the product in a picture.

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

The combination of shopping and entertainment helps consumers interact with sellers, as well as other consumers, through information sharing or direct interaction at live streams, videos, and video games. Integrated on the sales website and easily chat to support and answer all questions of consumers.

According to the sharing from Lazada customers, shopping with participation in games and watching live sales helps consumers have a pleasant experience after working hours, taking care of stressful families, in addition to receiving promotions.

Some shortcomings in the shoppertainment trend in the domestic market

To satisfy the demands of online shopping and experience the quality of products before shopping with the best service, however, “shoppertainment” is not for all Vietnamese shops; rather, it is only for those who truly grasp it. Because if reality differs from what retailers portray it to be, consumers will inevitably turn against them.

Shoppertainment is a new e-commerce trend, and Vietnam is a developing market. Vietnamese retailers must, however, think carefully about their marketing strategies if they want to win the trust of their clients, which begins with treating them well.

They must realise that “shoppertainment” is the secret to success if they want to establish themselves as a destination for shopping, leisure, and entertainment.

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