In today’s fast-paced digital age, it feels as though the landscape of technology and innovation shifts every day. Questions arise: Will Artificial Intelligence impact every job in the next five years? Is the Metaverse nearing its end? Will the Vision Pro, Apple’s latest headset, revolutionise the industry akin to the iPhone’s impact? How close are self-driving cars?

For professionals and businesses, staying updated without having to read LinkedIn or Twitter all day can seem like an insurmountable challenge. How does one prioritise what truly matters between signal and noise and make informed decisions?

The map is not the territory

To navigate complex concepts and landscapes, there is an essential principle called “The Map Is Not The Territory.”  This concept suggests that while multiple perspectives exist to understand a situation, no single viewpoint offers a complete representation.

Consider Google Maps, for instance: while its standard map 2D view provides clear directions, its satellite imagery offers a bird’s eye view, and street view offers 360° navigation, neither can capture the Earth’s essence in its entirety.

To take another example, consider our senses. Our taste, touch, sight, hearing, and smell all provide very detailed information about the world, but none of them represents reality as it is. We can’t see ultraviolet light or hear ultrasound.

There are so many details that can be left out by one representation of reality: the 2D Google Map view does not show the altitude and slope of a road you’ll walk on, our hearing only is not enough to cross a road safely, and we’ll miss the silent bicycle passing by.

On the contrary, too much information can be overwhelming: Google Map’s Street View is not helpful during driving, and an environment with too much noise might prevent us from focusing, overloading our hearing.

Also Read: Balancing AI and human ingenuity: A guide to keeping your brain sharp

In the context of the innovation landscape, this means that trending news, viral tweets, and the latest buzz are not always reflective of genuine innovation. Just because AI services are sprouting left and right doesn’t necessarily mean that diving headfirst into creating one is the right move. Similarly, while Spacial Computing might be all the rage in 2023, it’s crucial to evaluate if it truly aligns with your project’s goals.

Navigating technological hype: Key strategies

Let’s explore four strategies to help navigate the news landscape:

• Embrace FOMO (Fear of missing out): Given the multitude of updates and advancements, it’s impossible to keep track of everything. Focus on overarching trends rather than minute details. What is relevant for your business? You don’t have to read and learn about everything that happens, even if it’s tempting, mainly when driven by the mechanics of Social Networks.
• Adopt a scout mindset: Introduced by Julia Galef, this approach emphasises curiosity, unbiased truth-seeking, and a comprehensive perspective. This stands in contrast to a Soldier Mindset, which is defensive and bound by pre-existing beliefs. This mindset encourages us to always strive for an elevated perspective, to see the broader context and connections.
• Diversify your information sources: Relying on a limited range of sources can narrow your understanding. Broaden your horizons by engaging with diverse thought leaders, exploring alternative media outlets, and being open to opinions that might challenge our pre-existing beliefs. In doing so, we not only expand our information landscape but also cultivate a more nuanced and holistic perspective on the issues that matter.
• Challenge your biases: Platforms like Twitter or even your own business environment can create echo chambers. Periodically reassess your perspectives and be careful of falling prey to confirmation bias. There might be a business opportunity that you unconsciously dismissed for a long time, maybe for a reason, but that now became relevant.

By following these strategies, you’ll be able to keep your focus on what truly matters for your business.

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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

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Desalination plants are the source of drinking water for millions of people living in regions with high water stress. However, water production is affected by coastal pollution and swells, resulting in losses of up to 30 per cent of the production.

Two Chileans, Enzo García (marine ecologist) and Tomás Acuña (an expert in applied remote sensing), are here to address this pressing problem using advanced technologies.

“The primary motivation for starting Bloom Alert stems from our deep desire to develop disruptive technology that allows solving the global water crisis,” said Co-Founder and CEO García. “Around the world, approximately 18,000 desalination plants produce more than 60 million cubic metre of fresh desalinated water daily. Our estimates indicate that about US$3 billion are lost annually due to operating inefficiencies and extreme environmental events.”

Also Read: Meet the 55 finalists vying for prizes worth US$1.9M at SMU’s LKYGBPC competition in Singapore

Bloom Alert provides water quality monitoring and risk management software, which, through its forecast and alert system, allows desalination plant operators to anticipate and manage events that put their operations at risk. It employs satellite images and artificial intelligence (AI) to avoid water production loss.

“For the first time in the market, risk intelligence and management software incorporate satellite-based environment monitoring into its industrial operation routines, integrating oceanographic modelling as the basis of a water security strategy,” García noted.

“At the heart of the system is ETL-prefect, a computer library written in Python and developed to perform extraction, processing, and loading of satellite data from various sources, such as NASA and the European Space Agency, thus executing our intelligence and risk management models based on more than 20 years of available satellite information,” he elaborated.

Bloom Alert’s solution has been deployed in Chile’s mining corporations BHP and Teck, which work 100 per cent of their mining processes with desalinated water.

Garcia claims the startup currently serves 65 per cent of the installed desalination capacity in Chile, which means it protects the daily production of almost 600,000 cubic metres of fresh water, vital for the country’s social and economic development.

Bootstrapped so far, Bloom Alert plans to close this financial year with US$1 million in sales.

The startup is also raising its first investment round, which will allow it to scale its product to new global markets.

Bloom Alert is one of the 55 RVLT 50 Startups selected for the 11th edition of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC) run by Singapore Management University’s Institute of Innovation and Entrepreneurship. The competition, to be held from September 11-15, 2023, will act as a springboard for the company to explore opportunities in Asia and Southeast Asia.

“Asia is one of the leading technological developers of the desalination industry and responsible for 19 per cent of world water production. In addition, it is the gateway to the Middle East and North Africa markets, which concentrates more than half of the installed desalination capacity in the world,” he shared.

Also Read: Balancing AI and human ingenuity: A guide to keeping your brain sharp

However, the company expects to experience several challenges as it grows. “The main challenge at the beginning of our company was to get the industry to trust a new product created locally by a team of young professionals. In the future, new challenges will continue to appear as we implement more complex Artificial Intelligence logics, where people and operators will have to learn to trust algorithms as the basis of their daily work,” he went on.

Comparing the startup ecosystems of Chile and Singapore, he said although the Chilean government offers significant support programmes for entrepreneurship, the investment ecosystem tends to be very conservative, so it is challenging for startups in natural resources to find support for an expansion plan.

“On the other hand, Singapore has a mature investment landscape, with many VC firms, angel investors, and private equity firms, which has positioned the region as one of the best countries to develop technology-based businesses. We hope to be part of this ecosystem and collaborate with the incredible technological development of Singapore and the region,” he concluded.

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Image Credit: Bloom Alert

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Pi-xcels, a Singapore-based startup specialising in digital receipt issuance, has secured US$1.7 million in a seed funding round led by Wavemaker Partners.

Hustle Fund, Amand Ventures, and Black Kite Capital, other strategic angel investors also participated.

The startup will use the fresh funds to fuel its global business development efforts, with a specific focus on strengthening its presence in Europe and advancing projects in Japan and Southeast Asia.

Additionally, Pi-xcels has received the Tokyo Metropolitan Government Green Finance Subsidy Grant and has been accepted into the Visa Accelerator program.

Also Read: AntsBees sets aside US$860K to support AI-powered tech startups in Malaysia

Founded in 2019, Pi-xcels offers digital receipts as an eco-friendly alternative for various establishments using Near Field Communication (NFC) technology. This system allows offline retailers to issue interactive e-receipts with a single tap of a shopper’s smartphone.

The interactive receipt acts as an omnichannel marketing tool, enhancing shopper experiences. Pi-xcels also provides real-time transaction insights, offering retailers data-driven feedback.

Pi-xcels has partnered with global brand names like payment terminal company Ingenico.

“We are focused on advancing our research and development capabilities and strengthening our engineering team with the newly raised capital. This will enable us to be consistent in our delivery of innovative solutions to customers and partners in key markets like Japan, Spain, Indonesia, and beyond,” said Founder and CEO Daniel Lim.

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Neurowyzr raises US$2.1M

Neurowyzr, a healthtech company in India specialising in brain health, raised US$2.1 million in an “oversubscribed” seed financing round.

Jungle Ventures and Peak XV’s (formerly Sequoia India and Southeast Asia) Surge led the round. Angels, such as Khoo Boon Hui, Chairman of SDAX; Ab Gaur, Founder and CEO of Verticurl; and Rob F Jablonski, Commercial Investment Director of Aquivia; also joined.

Founded in 2019 by Nav Vij and Pang Sze Yunn, Neurowyzr develops solutions to address existing gaps in neurology and brain health. Its first product is an online gamified digital neuroscience assessment called the Digital Brain Function Screen (DBFS), which it claims significantly reduces the time and dollar burden of traditional cognitive testing.

Indonesian Muslims confident about using AI for travel

Millennials Muslims in Indonesia are more confident about using AI tools for travel recommendations than their counterparts in Singapore and Malaysia, according to a new survey by Muslim-focused travel platform Have Halal Will Travel (HHWT).

While 78 per cent of respondents in Indonesia show confidence in AI tools for Muslim-specific travel recommendations, the figures are 36 per cent in Malaysia and 31 per cent in Singapore.

Indonesian Muslims (54.5 per cent) are also ahead of their Singapore (31.8 per cent) and Malaysian (21.4 per cent) counterparts when it comes to using generative AI for travel.

Since the launch of OpenAIʼs ChatGPT service last December, Millenial Muslims have started using Generative AI in their daily lives.

Antler backs Mole

Malaysia-based all-in-one professional networking platform Mole secured US$110,000 in pre-seed funding from Antler.

With the new funding, Mole plans to venture into the US$1 billion traditional business card market with its digital offering. A portion of the capital will also be used to develop a networking app and a sustainable digital business card platform tailored for SMEs.

“Mole’s vision is to create a world where professionals network for real connections that go beyond business transactions,” said Ling.

Founded in June 2022 by Au Soung Rong and Melly Ling, Mole seeks to transform professional networking by merging distinct event formats, technology, and community-driven efforts to streamline practices. It has devised NFC and QR code solutions for effortless information sharing to address challenges such as lost cards and mismatched goals.

PrimaKu secures funding

PrimaKu, a pediatric health platform in Indonesia, announced the completion of its pre-Series A round of funding led by Northstar Group and AppWorks.

BRI Ventures and BIG Ventures also participated.

The size of the deal remains undisclosed.

PrimaKu intends to use the capital to enhance its digital ecosystem to assist parents, paediatricians, and healthcare facilities effectively. It will also broaden its product and service offerings for parenting while improving vaccination coverage across Indonesian clinics and hospitals.

Founded in July 2017, PrimaKu is a community-centric platform that addresses parenting challenges in Indonesia. The firm offers parents three key services to combat growth stunting:

• Child growth monitoring
• Nutrition guidance
• Vaccination and immunisation offerings

Pi-xcels raises US$1.7M

Pi-xcels, a Singapore-based startup specialising in digital receipt issuance, secured US$1.7 million in a seed funding round led by Wavemaker Partners.

Hustle Fund, Amand Ventures, and Black Kite Capital, other strategic angel investors also participated.

The startup will use the fresh funds to fuel its global business development efforts, with a specific focus on strengthening its presence in Europe and advancing projects in Japan and Southeast Asia.

Additionally, Pi-xcels has received the Tokyo Metropolitan Government Green Finance Subsidy Grant and has been accepted into the Visa Accelerator program.

Founded in 2019, Pi-xcels offers digital receipts as an eco-friendly alternative for various establishments using Near Field Communication (NFC) technology. This system allows offline retailers to issue interactive e-receipts with a single tap of a shopper’s smartphone.

Fintech funding in ID down 38% in H1 2023

The Indonesian fintech space saw a 46 per cent decline in the number of funding secured in the first half of 2023, according to a report by global SaaS-based market intelligence platform Tracxn.

“While 2021 marked the peak of fintech funding, subsequent years have witnessed a decline. Funding in the fintech sector fell by 46 per cent in 2022 compared to the previous year, with the first half of 2023 experiencing a 38 per cent drop in funding compared to the second half of 2022. This decline has led to the least funded half-year period (H1 2023) since 2020,” the report elaborates.

Fintech startups in Indonesia raised a total of US$322 million in H1 2023, marking a sharp decline of 71 per cent and 38 per cent when compared with US$1.1 billion in H1 2022 and US$517 million in H2 2022, respectively.

The number of funding rounds also saw significant reductions, with a 26 per cent and 58 per cent decline compared with H2 2022 and H1 2022, respectively.

Hypefast lays off staff

Indonesian brand-aggregator Hypefast laid off 30 per cent of its workforce in a bid to maintain profitability, according to a report by Tech In Asia.

The total number of affected employees is undisclosed.

The company said that it will continue to provide affected employees with health insurance until the end of 2023, outplacement support, and more flexible timing for employee stock ownership plan (ESOP) tax payments.

Established in January 2020, Hypefast helps local brands with revenues exceeding IDR500 million (US$32,627) develop their businesses, particularly through online sales channels.

It also offers debt capital to those brands.

CompAsia rakes in Series A

Malaysia’s integrated re-commerce startup CompAsia secured an undisclosed sum in a Series A investment round led by Gobi Partners.

This capital will help the startup expand across various touchpoints, bolstering human resources, training, and operational capabilities.

Additionally, the funds will be instrumental in optimising the firm’s digital assets and marketing strategies, specifically focusing on penetrating new markets like the Philippines, Thailand, and Indonesia.

Founded in 2016, CompAsia is a one-stop platform for customers to trade in or purchase pre-owned electronic devices. It also offers financing plans and other options to address customer concerns about transparency when buying such goods.

Solar AI bags US$1.5M

Singapore-based solar-as-a-service startup Solar AI Technologies raised US$1.5 million in a seed funding round led by Earth Venture Capital with participation from Undivided Ventures, Investible, and climate-tech angel investor David Pardo.

The funds will primarily be used to upscale its rent-to-own (RTO) solar programme in the island nation before embarking on regional expansion in the next 12 months.

Started in 2020 by Chew (CEO), Gérald Chablowski (CTO), and Luke Ong, Solar AI seeks to make rooftop solar accessible and hassle-free for smaller, underserved property owners by providing them with zero upfront cost.

Its primary product is its RTO solar programme, which enables customers to own a solar panel system with zero upfront cost, paying a flat monthly fee for installation, maintenance, servicing, and energy generation guarantee.

Compared to the traditional solar offer that demands an upfront cost of US$15,000 to US$50,000, the startup’s RTO model helps de-risk solar as a renewable energy solution, particularly in Southeast Asia, with a penetration rate of less than 1 per cent.

VC funding in Indonesia consistent in H1 2023

The Association of Indonesian Venture Capital and Startups (AMVESINDO) released a report that revealed the performance of venture capital (VC) investments in the country in the first half of 2023. According to the report, the Indonesian VC industry saw consistent growth, with investments reaching IDR27.35 trillion (US$1.7 billion) in June 2023.

A combination of conventional and Sharia-based VC investments, the number was an increase from December 2022’s position of IDR25.94 trillion.

As seen in the following graphic (in IDR trillion), with the blue graphic representing conventional VC and the red graphic representing Sharia-based VC, the steady increase signifies investors’ trust in the potential of the Indonesian tech startup ecosystem despite back-to-back global crises.

AntsBees sets aside US$860K for startups

AntsBees, an artificial intelligence (AI) and robotics automation solutions provider in Malaysia earmarked up to RM4 million (US$860,000) to invest in tech startups wanting operational growth.

The firm tends to favour startups that are focused on the industries of education, healthtech or any field that could contribute to the AI technology ecosystem.

“We are keen to extend our expertise and platforms to startup companies and extend financial aid to grow together. Having been in the market and enabling digital transformation for organisations, we would like to invest in or acquire new businesses related to Industry 4.0 and doing so, further strengthen our position towards becoming a stronger tech-conglomerate,” said Dr Priscilla Prasena, Group CEO of AntsBees.

PropertyGuru shutters Rumah.com

Property tech company PropertyGuru announced that it is ceasing the operations of Rumah.com, its property marketplaces business in Indonesia, and FastKey, its SaaS product, in an internal note by PropertyGuru Group CEO and Managing Director Hari V. Krishnan.

The statement further detailed that Rumah.com will cease to operate on November 30.

“Our aim is to minimise this impact and provide support to the 61 Gurus from our Indonesia Marketplace business, offering them enhanced packages, healthcare support and assisting them in their transition to new opportunities,” Krishnan said in the statement.

“Until November 30, we will continue to serve our Rumah.com agent and developer partners to ensure minimal disruption to their business operations. Thereafter, we will refund the fees paid by them as per the respective contracts. For our vendor partners, we will pay the dues as per the individual contractual commitments.”

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The pic in this article is AI-generated.

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At e27, we’re committed to nurturing innovation by offering a stage for experts to impart their specialized knowledge. Through our Contributor Programme, enthusiastic participants can partake in deep discussions on entrepreneurship, technology, and breakthroughs.

Be part of our startup dialogue this week as we delve into current trends, exchange perspectives, and discuss cutting-edge methods to thrive in the startup realm.

Demystifying ToFu churn: How strategic CPO-CMO collaboration makes the difference

Byline from David Isaac Mathews, Principal: Growth and Venture Building at Causality Co

This article discusses the pivotal roles of ToFu (Top of the Funnel) and MoFu (Middle of the Funnel) in the customer’s journey, emphasising the initial brand interactions and deeper evaluations. A central theme is the challenges faced by businesses, including the necessity for accurate brand positioning, the need to align marketing promises with actual product deliverables, and the importance of consistent brand messaging.

Delving into the critical alignment between the Chief Product Officer (CPO) and Chief Marketing Officer (CMO) to prevent strategy gaps and miscommunications, the article also highlights the concept of the Four Fits — Market product fit, Product channel fit, Channel model fit, and Model market fit — as the foundation for ensuring a seamless integration of product and marketing strategies.

Is the Philippine real estate market ready for the next wave of proptech?

Byline from Paulo Joquino, Senior Content Strategist at Insignia Ventures Partner

The Philippine real estate market, historically bogged down by inefficiencies, is poised for transformation with proptech’s rise. Despite earlier digital shifts, transactions remain fragmented.

However, with a residential market worth US$22.5 billion in 2022 and a strong demand evidenced by 1.17 million households planning purchases, there’s a vast opportunity. Developments in other nations, like the US’s Opendoor and Indonesia’s Pinhome, signal potential pathways for the Philippines. Yet, achieving a holistic Proptech 2.0 platform will require strategic execution and value delivery to stakeholders.

Why bootstrapping remains the key to survival in Asia’s funding winter

Byline from Dean Bernales, CEO and Founder at Uniquecorn Strategies

Amid a tech market slowdown and reduced fundraising in Asia, startups are increasingly considering bootstrapping as a growth strategy. This self-funding approach provides founders with more autonomy and flexibility.

Successful examples in Asia include India’s SocialPilot and Singapore’s KodeKloud. Bootstrapping can ensure sustainable growth, preserve equity, and demonstrate resilience in challenging times, benefiting future fundraising or acquisitions.

What is circular economy and why F&B companies should care

Byline from Manni Sidhu, Chief Executive Officer at Modoru

The circular economy goes beyond just recycling, emphasising durable and sustainable product designs over the traditional “take, make, dispose” model. Only 7.2 per cent of materials are currently recycled, highlighting the potential benefits of product longevity.

Adopting circular principles can drastically cut waste and greenhouse gas emissions. Businesses can gain both environmentally and financially by embracing circularity.

Also Read: Innovations and insights: This week’s picks from e27 contributors

For instance, by reducing material waste, optimising supply chains, and meeting emerging regulatory requirements. As an example, a cinema adopting reusable RFID-embedded packaging can both reduce its carbon footprint and better engage with customers. Embracing circularity is a win for the environment and business innovation.

AI’s transformative role: Making insurance accessible and affordable globally

Byline from Rajive Keshup, Partner at Cathay Innovation

Artificial Intelligence (AI) holds transformative potential for the insurance sector, especially in developing nations. By enhancing risk assessment, streamlining underwriting and claims processing, offering personalised pricing, and boosting customer engagement, AI can make insurance more accessible and tailored.

For instance, Coherent Spark and sprout.ai leverage AI to automate risk modelling and expedite claims decisions, respectively. While there are challenges like data privacy and bias, with the right approach, these can be managed. Cathay Innovation actively invests in such startups worldwide, emphasising the significant opportunity AI offers to the insurance industry.

Data-driven growth: The evolution of growth hacking in 2023

Byline from David Isaac Mathews, Principal: Growth and Venture Building at Causality Co

The startup environment has evolved from random “growth hacking” tactics to strategic, data-driven methodologies, emphasising product-market fit and targeted user engagement. Tools such as Amplitude, VWO, and Mixpanel enable startups to make data-informed decisions, supported by Growth Teams, which are cross-functional groups that include marketers, analysts, and product specialists.

Startups now prioritise metrics that genuinely reflect growth and product value, like the ‘North Star Metric’, while avoiding misleading “vanity metrics”. Thought leaders like Sean Ellis, Andrew Chen, and Brian Balfour advocate for a holistic understanding of growth, stressing the interconnected roles of product, marketing, and data. The modern approach is all about precision, market understanding, and, crucially, using data intelligently for sustainable growth.

4 strategies for navigating the innovation news landscape

Byline from Fabien Le Guillarm, Founder of Gimbal Cube

In today’s digital era, discerning essential tech trends from fleeting news can be daunting. The principle “The Map Is Not The Territory” highlights that no single viewpoint captures a situation’s entirety. When navigating tech advancements, it’s crucial to distinguish genuine innovation from mere buzz.

To do so, professionals should focus on major trends, adopt an unbiased ‘scout mindset’, diversify their information sources, and regularly challenge their biases. By applying these strategies, one can make informed decisions amidst the ever-shifting technological landscape.

Empowering retailers: The transformative potential of  digital shelf in e-commerce 

Byline from Vaibhav Dabhade, Founder and CEO of Anchanto

The e-commerce landscape is densely populated, making a robust digital shelf vital for brands. This online counterpart to in-store displays is central to a brand’s online image. Amidst intense competition and changing consumer behaviours, success hinges on harnessing real-time digital shelf insights.

Also Read: Contributor corner: Weekly round-up of e27’s latest insights and perspectives

By understanding market trends, stock levels, competitor actions, and revenue flows, brands can strategise effectively, ensuring product visibility, competitive pricing, and streamlined operations, thus ensuring they stand out and thrive in the dynamic world of e-commerce.

How to harness open banking for greater consumer and fintech empowerment

Byline from Luke Fitzpatrick, Guest Lecturer at Sydney University

Open banking allows consumers to share their financial data with third-party providers through secure APIs, offering enhanced control and transparency. This collaboration streamlines transactions, reduces costs, and introduces tailored financial services.

Combined with evolving legislation and AI advancements, open banking is reshaping the financial landscape, providing deeper insights and personalised financial advice.

Mastering your Growth Equation: A practical guide to dominating your niche

Byline from David Isaac Mathews, Principal: Growth and Venture Building at Causality Co

Effective growth in a company hinges on team alignment around key leading indicators and a central ‘North Star Metric’ (NSM). By defining a clear growth equation and differentiating between mere busy work and impactful actions, businesses can navigate towards substantial expansion. Regularly reassessing and refining these components ensures sustainable, exponential growth. Remember: it’s not about doing more, but achieving more.

Why the growing UHNI population in Singapore is good news for Indian startup ecosystem

Byline from Amit Gupta, Founder of Ecosystm Group and President of TiE Singapore

Nestled within the heart of Southeast Asia, Singapore stands as a beacon of innovation and progress. Its meteoric rise in the global startup ecosystem is not just a testament to its forward-thinking policies but also its ability to foster a melting pot of cultures and ideas.

As the island city-state carves a niche for itself, it beckons entrepreneurs from across the globe, offering them a platform to dream, innovate, and achieve. The intertwined narratives of growth and collaboration in Singapore are a promising glimpse into the future of global entrepreneurship. The upcoming TiE Global Summit in Singapore, paired with the Fintech Festival 2023, will gather global entrepreneurs and leaders.

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

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

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