A slew of new verified investors (including VCs, venture debt funds, incubators/accelerators, and angels) joined the e27 platform in the past few weeks (Connect investors are those that are verified by e27 and agreed to get connected). These investors are based in different geographies, including Indonesia, Singapore, Malaysia, the Philippines, Thailand, and South Korea, and invest in different stages and verticals.

Below are the profiles of the ten of them.

K300 Ventures

K300 Ventures is an early-stage blockchain investor.

Verticals: Blockchain, Blockchain games, Defi (Decentralized finance)
Based in: Vietnam
Investment locations: Singapore, Hong Kong, Vietnam, and the US
Stages: Pre-seed, angel, seed, pre-Series A/bridge, Series A, and Series B
Investment range: US$10K to US$1M.

nVentures

nVentures is a seed fund focusing on B2B fintech startups in South & Southeast Asia

Verticals: Finance
Based in: Singapore
Investment locations: Sri Lanka, India, Bangladesh, and Singapore
Stages: Pre-seed and seed
Investment range: US$50K to US$250K.

Meixner

Meixner is an angel investor investing primarily in SaaS, developer tooling/experience and platforms.

Verticals: Any/all
Based in: Thailand
Investment locations: All/any
Stages: Pre-seed, angel, and seed
Investment range: US$1K to US$30K.

Lestari by Pijar Foundation

Lestari is a hub, connector, and accelerator of new ventures and technological initiatives that embrace future trends, opportunities, and challenges.

Verticals: Any/all
Based in: Indonesia
Investment location: Indonesia
Stages: Pre-seed, angel, and seed
Investment range: US$10K to US$200K.

Founders Launchpad

Founders Launchpad invests in early-stage companies.

Verticals: Agritech, AI, Big Data, cleantech, consumer, education, e-commerce, enterprise solution, healthtech, SaaS, social enterprise, sharing economy, productivity & CRM, mobile, medtech, marketplace, insurtech, IoT, and logistics/supply chain
Based in: The Philippines
Investment location: The Philippines
Stages: Pre-seed, angel, and seed
Investment range: US$25K to US$100K.

Springcamp

Springcamp is an early-stage, sector-agnostic investor in Korea.

Verticals: Any/all
Based in: South Korea
Investment locations: South Korea, the US, Singapore, and Vietnam
Stages: Pre-seed, seed, pre-Series A/bridge, and Series A
Investment range: US$100K to US$4M.

Growth Charger

Growth Charger incubates, accelerates and builds businesses.

Verticals: Agritech, healthtech, education, smart cities, biotech, consumer, finance, AI and, Big Data
Based in: Malaysia
Investment locations: Malaysia, Singapore, Thailand, Vietnam, the Philippines, and Indonesia
Stages: Pre-seed, seed, and pre-Series A/bridge
Investment range: US$10K to US$50K.

First Move

First Move is a founder-led early stage VC firm.

Verticals: Any/all
Based in: Singapore
Investment locations: Singapore, Indonesia, Malaysia, Vietnam, Thailand, and the Philippines
Stage: Pre-seed
Investment range: US$50K to US$150K.

Crusade Partners

Crusade Partners is an investment firm that offers venture debt capital to early and growth stage technology companies based in Southeast Asia and Hong Kong.

Verticals: Any/all
Based in: Hong Kong
Investment locations: Hong Kong, Singapore, Thailand, Vietnam, Indonesia, and the Philippines
Stage: Venture debt
Investment range: US$500K to US$3M.

Sopoong Ventures

Sopoong is an impact investor in Korea.

Verticals: Energy, F&B, agritech, platform, enterprise solution, finance, smart cities, consumer, education, healthtech, HR, transportation, sharing economy, and marketplace
Based in: South Korea
Investment locations: South Korea, Singapore, Vietnam, the US, and Laos
Stages: Pre-seed, seed, pre-Series A/bridge, and Series A
Investment range: US$150K to US$600K.

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The image used in this article is AI-generated.

The post Meet the new 10 investors joining the e27 Connect platform appeared first on e27.

Hiring the wrong person can have dire consequences to businesses, but unfortunately, there were obstacles that recruiters often face in ensuring that they got the right person for the job. These challenges range the increasing volume of applicants due to ease of applying for jobs in the digital age to the impracticality of the screening interview process. These are the problems that Psylent aims to solve with its AI-based solutions.

“A few years ago my husband was looking for a new job. He submitted a job application at 9 PM, and by 7 AM the following morning, he received a rejection email from the local team. He suspected that the system had automatically rejected him based on his resume or the closed questions regarding his years of experience in specific areas,” writes CEO Sjiva De Meester in an email to e27.

“Curious, he made slight adjustments to his re-submission, increasing his stated experience from four to five years. Surprisingly, within a week, he was invited for an interview.”

De Meester explains that her husband was eventually accepted at the company, but he chose to decline the offer. The fact that he was rejected before he was eventually accepted was considered odd.

“I was (and still am) astonished by the inefficiency of the recruitment system, as many companies rely on resume screening tools and applicant tracking systems (ATS) to manage the influx of applicants. However, it has become evident that these methods are not effectively addressing the challenges posed by high volumes of candidates,” she says.

Also Read: How AnyMind Group achieved profitability through its approach to human resource and leadership

Psylent builds a Virtual Recruiters that aims to help talent acquisition professionals delve deeper into candidates beyond their resumes. It handles large volumes of applicants, facilitating effective shortlisting to ensure the fair and objective selection of suitable individuals for the job.

The two available solutions are ChatNINA (enabling candidates to be interviewed via chat solutions) and Avatar API (enabling candidates to be interviewed in the metaverse).

“These Virtual Recruiters can be accessed through chat interviews and within the metaverse, offering innovative and immersive interaction options for both recruiters and candidates. Moreover, their 24/7 availability allows candidates to apply for positions and complete initial assessments at their convenience, accommodating different time zones and busy schedules, and enhancing the overall recruitment experience,” De Meester says.

According to the CEO, traditional self-reporting personality questionnaires are prone to bias as candidates can provide socially desirable responses, reducing their reliability. Candidates with limited self-awareness can also struggle to accurately answer such questions.

“Conversely, our virtual recruiter acts more like a friendly psychologist, employing a line of questioning that delves into significant life events and formative decisions. This self-authoring approach promotes authentic responses, bypassing the influence of social desirability and catering to individuals with lower self-awareness, ultimately enhancing accuracy in assessing personality,” De Meester elaborates.

“Additionally, traditional questionnaires lack engagement, leading to subpar candidate experiences. While gamified solutions offer some improvement, concerns arise regarding the relevance of behavior in a gamified format compared to real job scenarios. Recognising the significance of candidate experience, companies are venturing into the metaverse to optimise engagement and immerse candidates in a more captivating experience. As the only assessment company pioneering recruitment in the metaverse, we provide not only high quality insights but also an excellent candidate experience. Simply put, it’s smart and sexy.”

Also Read: Scaling is hard: Here are 7 things Human Resources can do to manage it

The solutions target MNCs hiring graduates, high-volume industries as well as developers, studios, and consulting companies.

Beyond the platform

Psylent is a spin-off of 9 Yards Innovation, a boutique consulting firm specialising in bespoke tech solutions at the intersection of data and psychology. The firm undertakes projects across Asia, Europe, and the US.

“In recent years, our emphasis has been on enhancing candidate experiences, offering end-to-end solutions that encompass reviewing shortlisting vendors, developing award-winning customized assessment centers, and providing interview training,” explains De Meester.

Psylent operates on an annual SaaS subscription model based on volume, which is a widely adopted approach among recruitment providers. Through the company’s consulting works over the years, it cultivates a network within the HR community, particularly in Southeast Asia.

The company has not raised external funding for its product which it develops while concurrently working on consulting projects.

“Our primary goal is to onboard more clients and scale. We are actively pursuing global collaborations to further support these objectives. Additionally, we have some exciting partnerships in the pipeline, scheduled to be announced in September, which will contribute to the continued development of our metaverse platform and API integration capabilities,” De Meester closes.

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Image Credit: Psylent

The post How Psylent uses AI to bring the recruitment process to the future appeared first on e27.

PasarMIKRO, a fintech company focussing on smallholder farmers, fishermen, and traders in Indonesia, has raised an undisclosed amount in funding from German finance company DEG and Ceniarth, a single-family office dedicated to impact-first investing.

This funding comes off the back of the startup’s seed round in November 2022, led by Trihill Capital, with participation from 1982 Ventures, Genting Ventures, Resolution Ventures, Gayo Capital, and Rabo Foundation.

It will utilise the investment to expand its trade and trade finance service offerings and strengthen its network of smallholder farmers, fishermen, and traders.

Also Read: 1982 Ventures backs Indonesian agri commodity marketplace PasarMikro

Founded by Dien Wong (CEO), Edo Djayaputra (COO), and Hugo Verwayen (CFO), PasarMIKRO is an agri-fintech company focusing on empowering smallholder farmers, fishermen, and traders.

The company has developed an agri-trade platform that digitally enables secure and trusted transactions, fast payments, and access to trade credit.

The platform also offers a digital ledger for transaction records and provides traceability functionality for transparency throughout the supply chain.

Last November, PasarMikro raised US$2.5 million in seed funding, backed by Trihill Capital, Resolution Ventures, and Genting Ventures.

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Image Credit: PasarMIKRO

The post Indonesia agri-fintech startup PasarMIKRO nets investment from DEG, Ceniarth appeared first on e27.

At e27, our mission is to nurture inventive thinkers and offer a space where exceptional individuals can disseminate their distinct perspectives and know-how. Our Contributor Programme stands as a gateway for fervent contributors to engage in rich dialogues about entrepreneurship, technology, and innovation.

Weekly, we showcase articles from our community members. These pieces showcase dives into emerging patterns, sector studies, and new notions. Join us as we aim to expand your horizons and pique your interest.

The wave of layoffs in 2023 and the Vietnamese market

By definition, the cause of layoffs is not a performance issue but rather a problem with the internal hiring plan. This leads to redundancy of personnel, waste of resources, and company costs.

CEO and Co-Founder of Adamo Software, Kevin Nguyen’s article highlights the challenges faced by major tech companies following the COVID-19 boom. As of 2023, many report disappointing growth rates and consequent large-scale layoffs. Notable firms like Alphabet, Meta, and Amazon have reduced thousands of employees, while Asia’s tech industry, including companies like GoTo Group and Kakao, experience similar reductions. Vietnam’s tech sector, heavily dependent on outsourcing, is impacted as well. While layoffs pose challenges, they also present opportunities for adaptation, growth, and resilience in the face of economic uncertainty.

From chatbots to therapists: How AI break ground in bridging the mental health care divide

One of the most pressing concerns is the ability of AI to empathise at the same depth as a human therapist. Empathy, after all, is a distinctly human trait, one that’s critical in therapy. Can a machine truly understand the subtleties of human emotions and react accordingly?

Web3 and AI Journalist, Harshajit Sarmah’s article highlights the global mental health care gap, with many facing barriers such as cost, distance, and stigma. The World Health Organisation notes that one in four people will experience mental health challenges. As a potential solution, the rise of AI therapists like Mind-r.ai’s Solace is discussed. These offer more accessible and affordable mental health support. However, challenges like replicating human empathy and ensuring data privacy in AI remain. The ultimate goal is to make mental health care universally accessible.

How Southeast Asian brands are reimagining the future of digital experiences

Trust is paramount in the digital economy, especially when customer expectations are heightened during uncertainty. In pushing the envelope of their digital-first strategy, brands must also strive to scale up trust in the digital economy.

Vice President and MD at Adobe (Southeast Asia and Korea), Simon Dale’s article explores the evolving role of the digital economy in Southeast Asia. Adobe’s Future of Digital Experiences report indicates that 60 per cent of Southeast Asian consumers see the digital economy as pivotal in their lives. The ascent of generative AI offers unprecedented opportunities for businesses to enhance efficiency and tailor customer experiences. With 73 per cent of SEA consumers showing a preference for online shopping, the demand for brands to ensure top-notch omnichannel experiences is growing. Yet, as businesses innovate, the study underscores that trust remains paramount, with 36 per cent of consumers ranking it as their top consideration when making purchases in a digital-first world.

Feeding the future: Innovation, entrepreneurship, and the rise of food tech in Asia

For food tech startups, there is no better place to be. But it’s a crowded marketplace with intense competition for the attention of investors and potential partners. Creating a strong and compelling profile is key to making your startup stand out from the crowd.

Corporate Communications Manager at Nurasa, Diane Fermin Roeder’s article highlights Asia’s pivotal role in food innovation due to population growth, emerging food technologies, ethical considerations, and increased investment. Innovations like plant-based and precision-fermented meats are poised to revolutionise food production.

Also Read: Voices of innovation: Showcasing e27’s top contributors of the week

The crowded food tech startup arena demands a strong profile, achieved through crafting an authentic, customer-focused brand story, humanising the business with relatable experiences, and leveraging networking opportunities for growth. The article underscores the importance of standing out, fostering partnerships, and communicating a sustainable future in the alternative protein industry.

Securing tomorrow’s metaverse today: Why safety in the new frontier must leverage on hardware

I personally look forward to delving into this digital universe, but not before we are able to implement proven solutions that secure our data in this new and exciting realm. Hardware solutions offer real-time protection against cyber threats, ensuring that users can enjoy immersive experiences without compromising their data security.

Founder and CEO of Flexxon, Camellia Chan’s article discusses the upcoming metaverse and its cybersecurity challenges. It highlights the risk of cyberattacks due to the convergence of physical and digital systems, emphasising the need for strong security measures. The author suggests utilising AI-embedded hardware for real-time threat detection and protection to ensure a secure metaverse experience.

How can your business benefit from the NFT phenomenon

While the market for NFTs has largely been focused on art, many other potential uses are just beginning to be investigated. Decentraland is one such platform that is leveraging blockchain technology and NFTs to create a user-owned virtual environment.

Founder and CEO of Converco, Moch Akbar Azzihad M’s article discuss the rise of NFTs and their potential as a development opportunity for young businesses. While NFTs initially gained traction, the market saw a decline due to cryptocurrency value fluctuations. However, as the NFT market stabilises and addresses energy inefficiency, opportunities persist. To engage in the NFT sector, a thorough understanding of blockchain technology is essential, as well as evaluating its potential benefits and calculating associated costs.

How to navigate the ethical landscape of Responsible AI

Responsible AI constitutes our greatest chance at cultivating a future wherein AI is wielded for good while mitigating its risks. By embracing the cardinal principles of fairness, transparency, accountability, and human oversight, we craft AI systems that align with our values, working harmoniously alongside us.

President of BeLive Technology, Sunil Nair’s article introduces Responsible AI, guided by fairness, transparency, accountability, and human oversight. It emphasises using AI ethically, ensuring unbiased decisions, transparency, accountability for consequences, and human intervention. Responsible AI rebuilds trust, enhances decision-making, reduces harm, and fuels innovation. It urges industries to create ethical AI practices and envisions a future where AI is a trusted ally, benefiting humanity.

Rising trend in Vietnam: Young professionals embracing social media content creation

Social networking platforms like Facebook or Youtube are always the most attractive communication channels with billions of users. It is easy to understand why businesses and advertisers always look to the characters with the most attractive channels to place their ads to reach more viewers.

Also Read: Community voices: Weekly compilation of expert insights on marketing, AI, and blockchain

CEO and Co-Founder of Adamo Software, Kevin Nguyen’s article highlights Vietnamese youth embracing content creation on platforms like TikTok and YouTube for its income potential and flexibility. Generation Z is gravitating towards non-traditional careers, with 33 per cent working part-time in content development. This trend, driven by social media’s reach and monetisation opportunities, is shaping the creative economy in Vietnam while presenting challenges of consistent innovation for content creators.

Business plans vs business planning: Harnessing the power of both

The business plan, said differently, should showcase your business planning skills more than your great idea. And it should show that because you can think ahead and come up with a convincing strategy, you are worth investigating further.

Business Coach and Co-Founder of Impactified, Antoine Martin’s article talks about how writing a business plan can become a pitfall for entrepreneurs if it lacks substance and strategic thinking. While many focus on presenting a great idea, potential partners, like investors, are more interested in evaluating the entrepreneur’s business planning skills. A solid business plan should demonstrate structured thinking, financial viability, legal considerations, and market validation. Simply having a good idea isn’t enough; the plan should showcase the entrepreneur’s ability to turn the idea into a viable and scalable business.

How to achieve cybersecurity independence in Southeast Asia

Fostering a cybersecurity workforce equipped with the latest skills and knowledge will be paramount in securing the region’s digital sovereignty. Governments and private enterprises should invest in training programs and create opportunities for professionals to specialise in cybersecurity.

Content and Social Media Marketing Manager at ArmourZero, Bernadetta Septarini’s article explores the significance of achieving cybersecurity independence in Southeast Asia during the month of independence celebrations. It highlights challenges, initiatives like the ASEAN Cyber Capacity Programme, best practices, AI’s role, and the importance of a skilled cybersecurity workforce for a safer digital future.

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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 Contributor spotlight: A roundup of this week’s startup discussions appeared first on e27.

Dear Pro member,

Singapore-based fintech firm, FOMO Group, has made significant strides in expanding its foothold in the Asian financial landscape through strategic acquisitions. It has acquired two local financial institutions, CapBridge and 1exchange, to venture into the capital markets.

CapBridge, a digital online investment syndication and distribution platform, presents an opportunity for FOMO Group to broaden its service offerings to cater to a wider range of customers. Additionally, 1exchange, with its cost-effective listing venue tailored for SMEs, corporates, and institutions, complements FOMO’s vision of becoming a fully-integrated, regulated, and licensed digital payment and digital asset solution provider in the region.

FOMO Group seeks to capitalise on the growing demand for fintech solutions and financial services in Asia by venturing into the capital markets space. With these strategic acquisitions, the company aims to strengthen its market position and unlock new revenue streams.

As the financial landscape continues to evolve, FOMO aims to accelerate innovation and adaptability, enabling the company to stay ahead in the competitive fintech industry and seize emerging opportunities in the dynamic Asian market.

Scroll down to have a glimpse of the top startup news stories collated from across Southeast Asia.

Sainul,
Editor.

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FOMO Group acquires CapBridge and 1exchange
CapBridge is a digital online investment syndication and distribution platform, whereas 1exchange is an RMO-licensed private securities exchange that offers a cost-effective listing venue designed for SMEs, corporates and institutions.

MAS eyes AI, Web3 projects with US$112M fintech scheme
The Financial Sector Technology and Innovation Scheme 3.0 will fund projects that tackle key areas of development in the fintech industry; FSTI 3.0 will have six tracks that cover the program’s different investment activities.

Singapore’s DotBio raises US$5.6M pre-Series A
The investors include Proxima Ventures and Gaorong Capital; DotBio, which specialises in antibody therapies, said it will use the funds to start its pre-clinical studies in areas such as animal efficacy, as well as chemical, manufacturing and controls.

BintanGo expands into live commerce with US$2.2M raise
The investors include Investible and Contents Technologies; BintanGo, which provides tools for digital content creators in Indonesia, aims to become a live-commerce enabler on TikTok, Instagram, Shopee, and YouTube.

Moonbox raises US$1M to launch AI-powered NFTs, apps
The investor is OKX Ventures; Moonbox develops an interactive protocol with AI that can give life to different digital assets, including NFTs.

Patrick Grove’s SPAC inks US$685M deal with Norwegian company
His SPAC Catcha Investment has agreed to merge with Crown LNG, a Norwegian firm that builds offshore liquefied natural gas terminals for harsh weather locations; The merged company, Crown LNG Holdings Limited, plans to list on the NYSE.

Ant Financial sells Paytm stake worth US$628M to founder Vijay Shekhar Sharma
Ant Financial will acquire a 10.30% stake in the Indian financial services firm in a move that appears to be orchestrated to cut the Indian firm’s exposure to the Chinese company.

Steve Jobs’s son launches VC fund to invest in cancer treatments
Reed Jobs is launching Yosemite, which has raised US$200M from medical institutions like Memorial Sloan Kettering Cancer Center, The Rockefeller University, and M.I.T, as well as from venture capitalist John Doerr.

Corporate investment strategies have become more mature, aggressive over time: Joseph Phua
The founder of Paktor and 17LIVe says the treatment of startups by old-school incumbent businesses in Asia has evolved in the last decade.

How Bossjob plans to win the Japanese market with its AI-powered career platform
Prior to its expansion to Japan, Bossjob entered Singapore and Indonesia and is preparing to enter Hong Kong in Q3 2023.

How Qashier plans to continue supporting SMEs with its product innovation
Qashier has recently introduced its flagship smart point-of-sale terminal Qashier X2 and the lightweight and portable QashierXS.

Indonesia may have a bright future in Web3 space, but some homework remain
The archipelago has all the elements of a supportive Web3 ecosystem with a close-knit community to forward-looking initiatives.

The wave of layoffs in 2023 and the Vietnamese market
While challenging, layoffs can also be seen as an opportunity to seek growth and advancement in your career.

From chatbots to therapists: How AI break ground in bridging the mental health care divide
We’re at the precipice of what could be a seismic shift in how we understand and address mental health.

Tap into the potential of your location data to boost business growth
How harnessing the power of your location data can help empower your business with the help of UNL’s unique location technology.

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The post Ecosystem roundup: FOMO Group acquires CapBridge, 1exchange; DotBio, BintanGo secure investments appeared first on e27.

The genesis of this piece arose from a captivating discussion with our Chief Technology Officer, Hassan Abid. We embarked on an intriguing debate about how brands can harness the power of generative AI while adhering to brand safety guardrails.

During this exchange, Hassan introduced the concept of ‘Responsible AI’ as a guiding beacon amidst our AI-driven world. Responsible AI, a fervent advocate of ethical principles and values, offers us hope — a means to steer clear of potential AI pitfalls and treacherous alleys that could ensnare us if left unchecked.

The principles that underpin Responsible AI are the bedrock upon which every AI system should stand: fairness, transparency, accountability, and human oversight. These principles constitute the moral compass that guides us in integrating AI responsibly.

Pillars of Responsible AI

Fairness stands at the core of Responsible AI. Our AI systems must be meticulously designed to treat all individuals impartially, casting aside biases based on race, gender, religion, or any other personal characteristics. A poignant example lies in the hiring algorithms adopted by many tech companies. When these algorithms succumb to biases, they perpetuate discrimination, bestowing favour upon certain candidates while unfairly disadvantaging others.

Transparency serves as the very foundation of trust. Individuals possess an inherent right to understand the decision-making processes that significantly impact their lives. By demystifying the enigmatic black box of AI, we foster a relationship of trust between users and technology, enabling them to hold AI accountable.

For instance, imagine a loan applicant rejected by an AI-powered lending platform. Transparency grants them insight into the reasons behind the decision, empowering them to challenge any errors or biases that may have played a role.

Accountability forms the robust backbone of Responsible AI. In an era where AI’s influence permeates every facet of life, clear lines of responsibility must be drawn to avert unforeseen consequences. This principle mandates that those involved in the development and deployment of AI systems be held accountable for any harm they may inadvertently cause.

Consider the revolutionary promise of autonomous vehicles in transforming transportation. Responsible AI ensures that developers bear responsibility for any accidents resulting from flaws in the AI systems guiding these vehicles.

Also Read: How AI, AR, and live streaming are changing the online shopping experience

Human oversight represents the ultimate safety net. While AI may perform breathtaking feats, it remains fallible. Thus, human intervention is indispensable to avert catastrophic outcomes. For instance, in the realm of AI-driven medical diagnostics, the accuracy-enhancing capabilities of AI should complement—not supplant—the expertise of medical professionals, who possess a deeper understanding of patient contexts and emotions.

Extended factors in Responsible AI

Beyond these four core principles, an array of other factors warrants consideration when weaving the fabric of Responsible AI systems. Foremost among these is privacy. We must safeguard individuals’ privacy, ensuring AI systems access personal data only with explicit consent. AI algorithms must never metamorphose into surreptitious spies lurking within cyberspace, infringing on privacy rights.

Security emerges as another paramount aspect. With AI’s ever-increasing ubiquity, safeguarding against unauthorised access and misuse assumes heightened importance. No one desires an AI dystopia wherein malicious actors exploit AI for sinister purposes, plunging societies into chaos and despair.

Furthermore, we must forge AI systems in a manner that aligns with environmental sustainability. Unbridled AI proliferation could trigger a massive carbon footprint, exacerbating climate change and imperilling the very planet, we seek to enhance.

The tangible benefits

The global momentum behind Responsible AI is palpable, with governments, businesses, and citizens acknowledging its transformative potential. Embracing Responsible AI begets an array of benefits that promise to reshape society for the better.

Chief among these rewards is the restoration of trust. As AI systems adhere to ethical principles, individuals gain confidence that their interests are safeguarded, fostering a harmonious coexistence with AI technology.

Additionally, Responsible AI augments decision-making capabilities. By leveraging AI systems devoid of biases and suffused with transparency, we gain access to more accurate, unbiased information, enabling better choices in our personal lives and society at large.

Crucially, Responsible AI endeavours to minimise harm. By sidestepping biased decisions and discriminatory practices, we shield against exacerbating existing inequalities and prejudices.

Lastly, Responsible AI stands as a catalyst for innovation. A robust framework, underpinned by safety, ethics, and societal welfare, fosters the development of AI systems that drive progress and elevate the human experience.

Also Read: From chatbots to therapists: How AI break ground in bridging the mental health care divide

Looking to the future: The industry’s role

Responsible AI constitutes our greatest chance at cultivating a future wherein AI is wielded for a good while mitigating its risks. By embracing the cardinal principles of fairness, transparency, accountability, and human oversight, we craft AI systems that align with our values, working harmoniously alongside us.

The road to Responsible AI may be fraught with challenges, but the destination it promises is one worth pursuing—a future where AI emerges as a trusted ally rather than an enigmatic foe.

At present, there may be no specific regulations or compliance guidelines available for businesses employing generative AI to implement Responsible AI. However, rather than waiting for external guidance, the onus lies upon us within the industry to proactively develop a playbook—charting the course for ethical AI practices.

Our collective commitment to Responsible AI can lead us to a future where technology, driven by moral responsibility, empowers humanity to thrive.

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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: Arseny Togulev on Unsplash

The post How to navigate the ethical landscape of Responsible AI appeared first on e27.

Writing a business plan is a rather common exercise for entrepreneurs, but it can also be a deadly trap business owners keep falling into. They work hard to build a deck that makes sense and feel confident presenting it, but then something goes wrong, and a big opportunity is lost.

The story is typical, but most of the time, the entrepreneurs have no idea of what just happened and no real way to analyse the situation. Still, there is a pattern, and it can be avoided with a little bit of discernment and anticipation.

In particular, one idea is a game changer: nobody cares about your business plan if all it is for you is a piece of paper.

What potential partners (entrepreneurs, investors, etc.) are interested in is something very different: your business planning skills.

Also Read: A guide to creating the ultimate investor pitch deck

What you think isn’t what they expect

In essence, the issue is that (inexperienced) fund-seekers and (seasoned) funders do not operate the same way.

On the business owner’s side, the thinking is usually the same. The idea sounds awesome, and there is a problem to solve. The market is big, and the potential is huge – that’s worth a lot of money! – hence the business plan can be done quickly in just a few days.

Except that on the funding side, the perspective is not the same at all.

I’ve worked with a few entrepreneurs and investors in my line of work, and one thing they have in common when it comes to investing in a business proposal is the need for efficient business structuration.

Structured thinking, to start with – as in, where exactly are you trying to get and how hard have you been thinking about how to make it happen?

Financial structuration, also – what is the plan, how much do we need to make it happen, and how much will we give back when we succeed?

And, of course, legal structuration – because nobody will invest a cent in a company that looks like a risky black box.

In many cases, however, the business plans they receive are far from their expectations.

The pitch deck is mostly built on a great idea, but it lacks serious business foundations. It lacks serious thinking and brainstorming. The financial and legal parts of the proposal are loose. And the deck itself isn’t investor friendly – too long, too wordy, not illustrated enough, not inspiring.

On the investor’s side, the reaction is then very simple.

“They’re looking for a small fortune, but this proposal is just a big ‘if’. The idea is probably good, but there’s no product-market fit, no proof of concept, no market validation, I can’t do anything with this.”

“The deck isn’t concise, and it’s not inspiring at all. I don’t have time to read twenty pages of black and white!”

“We receive hundreds of applications and only fund a couple a year because only a few are structured enough to be able to scale.”

“The money they ask for the equity they give is simply disconnected; they have no idea of what they are talking about.”

Also Read: 10 things you should incorporate into a business continuity plan

Business plans without business planning skills are worthless

In short, and to repeat myself, just a business plan isn’t worth anything.

What your future partners want to know isn’t that you have a good idea. They want to see if you are the right person to invest in and if the way you plan to invest their money gives them any chance of getting a return on their investment a few years from now.

The business plan, said differently, should showcase your business planning skills more than your great idea. And it should show that because you can think ahead and come up with a convincing strategy, you are worth investigating further.

Yes, wondering how to write a business plan is a perfectly legitimate question! But it only makes sense if you are willing to walk a mile in your future partners’ shoes and if you are ready to take your business idea a lot more seriously.

Only those who understand this nuance make it to the next stage.

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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: Campaign Creators on Unsplash

The post Business plans vs business planning: Harnessing the power of both appeared first on e27.

August is a momentous month for countries in Southeast Asia, as it marks the celebration of independence for nations like Singapore (on the 9th), Indonesia (on the 17th), and Malaysia (on the 31st). While we commemorate our historical freedom, it is also crucial to reflect on our modern-day independence in the digital realm.

Cybersecurity is a pressing issue that demands attention and action to protect our online sovereignty. This article explores the significance of being independent of cyberattacks and the measures required to achieve a cyber-resilient, Southeast Asia.

Navigating the cybersecurity landscape and challenges

Southeast Asia’s remarkable digital advancement has brought unprecedented opportunities for growth and innovation. However, this progress is accompanied by the escalating spectre of cyberattacks.

The region’s diverse economic landscape, featuring both highly developed countries and emerging economies, has given rise to a varied technological ecosystem. While these advancements offer numerous benefits, they also expose the region to an intricate web of cyber risks.

• Evolving threat landscape: Cyber threats in Southeast Asia range from individual-driven attacks like phishing and identity theft to large-scale, state-sponsored attacks. The interconnectedness of economies and societies further amplifies the ripple effects of these threats.
• Data privacy concerns: With the rapid digitisation of services, individuals and businesses are generating unprecedented amounts of data. Ensuring data privacy and preventing unauthorised access are significant challenges.
• Critical infrastructure vulnerabilities: As nations digitise critical infrastructure such as power grids, transportation systems, and healthcare networks, the potential impact of cyberattacks on public safety and national security becomes a critical concern.
• Economic implications: Cyberattacks can cripple businesses, disrupt supply chains, and erode consumer trust. The economic implications of successful cyberattacks are substantial, affecting both individual livelihoods and national economies.
• Varied technological maturity: The technological maturity of Southeast Asian countries varies widely. While countries like Singapore boast advanced cybersecurity frameworks, others may struggle due to limited resources or a lack of awareness.
• Cross-border challenges: Cybercriminals often exploit the porous borders of cyberspace. Transnational cybercrime makes attribution and collaboration between countries challenging.

The rapid convergence of technology and evolving cyber threats underscore the importance of comprehending the cybersecurity landscape. By acknowledging the digital diversity within Southeast Asia and the dynamic threat landscape, we can lay the foundation for well-informed strategies and collaborative initiatives aimed at achieving cybersecurity independence.

Southeast Asia faces unique challenges when it comes to cybersecurity. The diversity of technological advancement across the region leads to discrepancies in cyber readiness. While Singapore boasts sophisticated cybersecurity infrastructure, other countries might struggle with limited resources and cybersecurity awareness. Additionally, the evolving sophistication of cybercriminals makes it challenging to keep up with their tactics.

Initiatives and collaborations for cyber resilience 

Recognising the gravity of the situation, countries in Southeast Asia have been taking proactive measures to fortify their cybersecurity defences. National cybersecurity strategies have been implemented, emphasising collaboration between governments, private sectors, and civil society.

Additionally, regional alliances and partnerships have been established to share threat intelligence and promote cooperation in combating cyber threats.

One notable example of regional cooperation is the ASEAN Cyber Capacity Programme, which aims to build cybersecurity capacity and foster knowledge sharing among ASEAN member states. By pooling resources and expertise, countries in the region can collectively bolster their cyber defences and enhance their resilience against cyberattacks.

Best practices for cybersecurity independence 

While governments and organisations play a crucial role in cybersecurity, individual users must also take responsibility for their online safety. Implementing best practices can significantly reduce the risk of falling victim to cyber threats. Here are some essential best practices:

• Strong passwords and authentication: Use unique and complex passwords for each online account. Implement two-factor authentication (2FA) to add an extra layer of security.
• Safe browsing habits: Be cautious of unsolicited emails, links, and attachments. Avoid clicking on suspicious URLs and verify the authenticity of websites before sharing personal information.
• Regular software updates: Keep operating systems, software, and applications up-to-date. Updates often include patches that address known vulnerabilities.
• Data encryption: Encrypt sensitive data, especially when transmitting it over the internet. Encryption ensures that even if data is intercepted, it remains unreadable without the decryption key.
• Employee training: Businesses should invest in cybersecurity training for employees to raise awareness about potential threats, such as phishing attacks or social engineering.
• Incident response planning: Develop a comprehensive incident response plan to mitigate the impact of cyber incidents. A well-prepared response can significantly reduce downtime and damage.
• Public awareness campaigns: Governments should conduct public awareness campaigns to educate citizens about cybersecurity risks and promote responsible online behaviour.
• Collaborative information sharing: Establish platforms for sharing threat intelligence among governments, businesses, and organisations. Timely information exchange can help prevent widespread attacks.

By implementing these best practices, Southeast Asia can bolster its defences against cyber threats, fostering an environment of cybersecurity independence and resilience.

The future of cybersecurity in Southeast Asia 

The fight against cyber threats is an ongoing battle, and the future of cybersecurity in Southeast Asia hinges on continuous adaptation and innovation. The emergence of technologies like Artificial Intelligence (AI) and Machine Learning (ML) holds promise in augmenting cybersecurity defences. AI-powered tools can help detect and respond to cyber incidents more efficiently, providing a significant advantage against cyber criminals.

Furthermore, fostering a cybersecurity workforce equipped with the latest skills and knowledge will be paramount in securing the region’s digital sovereignty. Governments and private enterprises should invest in training programs and create opportunities for professionals to specialise in cybersecurity.

Final thoughts

As we celebrate independence month in Southeast Asia, let us not overlook our digital sovereignty and the imperative need for independence from cyberattacks. By acknowledging the cybersecurity landscape and challenges and implementing effective strategies and best practices, we can collectively achieve a cyber-resilient region.

Let this be a momentous time when we unite to protect our digital freedoms and pave the way for a safer and more secure online world in Southeast Asia. Together, we can secure our independence not only in the physical realm but also in the digital domain.

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Amidst the AI revolution, e27 presents a new series showcasing how organisations embrace AI in their operations.

Asnawi Jufrie is the Southeast Asia General Manager of SleekFlow, an omnichannel social commerce platform facilitating conversations across SMS, website live chat, and top social messaging apps.

From early on, Jufrie was interested in contributing positively to his surroundings, emphasising the importance of individual empowerment. With a background in sales and business development, he previously served as the ASEAN Team Lead for Business Development at Salesforce.

In this edition, Jufrie shares how SleekFlow has embraced Artificial Intelligence.

Edited excerpts:

How do you perceive the AI revolution and its potential impact on your industry and workforce?

The emergence of Generative AI, with the breakthroughs made by programs such as ChatGPT, has caused a surge of interest in chat-based AI applications. This has significantly impacted the conversational commerce industry, where this technology has become a game-changer for omnichannel sales platforms like SleekFlow.

I’ve noticed that most people tend to relate AI to chat nowadays. It’s like having Michael Jordan helping with your free throws in basketball – AI can enhance communication skills, maximise your knowledge base, and develop context-aware AI-powered chatbots. 

At SleekFlow, we’ve embraced the technology to drive business growth, leveraging its ability to enhance communication skills, expand the knowledge base, and develop remarkable context-aware AI-powered chatbots. 

Last quarter, we launched SleekFlow AI for customer support, powered by GPT-4 technology. Our AI-powered chatbots, for instance, can engage in natural, human-like conversations with customers, leading to a much smoother customer experience. 

This means maximising touchpoints with consumers by allowing businesses to upload their help documents or website to our upcoming portal to build an extensive knowledge base so that the AI can recommend accurate responses to customer inquiries through WhatsApp. 

This frees up time for customer support staff to focus on more complex enquiries that require the human touch. Its summary generator also condenses long chat threads into bite-sized notes, making interactions more productive and helping businesses achieve consistency in consumer brand experience.

In what ways has your company embraced AI technologies to improve operational efficiency or enhance business processes?

At SleekFlow, we recognise AI’s value in improving business operations and customer experience. As such, we have strategically integrated various AI tools into our workflows to help us achieve these goals.

One such built-in tool is Apollo.io, a sales engagement platform that leverages AI to help sales teams prioritise leads and personalise communication. With Apollo, our sales team can automate certain tasks, such as email sequences and follow-up reminders, freeing up time to focus on higher-level tasks, such as building customer relationships.

Another built-in tool we use is Notion.so, a productivity app that incorporates AI features such as natural language processing and machine learning. Notion helps to organise and track internal communication, making it easier for us to collaborate and share information across teams.

We also utilise standalone AI platforms like ChatGPT to enhance customer support operations. Our marketing team, for instance, has been leveraging ChatGPT to brainstorm content ideas, generate SEO blog outlines, and adapt original content for cross-channel distribution. 

This frees up time for our writers and marketers to focus on the more creative aspects of their work, such as product marketing and content strategy.

Adopting AI-powered tools not only leads to boosts in productivity but also improves our ROI for those apps we’ve already invested in. It’s a no-brainer!

Can you share specific examples of how AI has been integrated into your workforce to streamline operations or drive innovation?

Let’s take SleekFlow AI as our example.

Regarding customer service, SleekFlow AI can answer support-related inquiries in a manner that is indistinguishable from our human agents. This allows us to deflect more straightforward cases and free up time for our agents to focus on more complex issues. 

In sales, it provides a personal coach that scans the entire history of a chat conversation with a customer and provides suggestions on the best item to promote and recommended replies. This not only streamlines the sales process but also ensures a personalised, high-quality customer experience.

Similarly, in marketing, SleekFlow AI can help generate impactful marketing copy in minutes, leveraging its understanding of our company’s branding, products and services, and the goals of the copy. 

As for our customers, SleekFlow AI is a useful tool in highly specific industries, such as insurance. The chatbot can recommend personalised health insurance plans based on your customers’ budgets and needs by analysing previous conversations and support materials. This means no more navigating through multiple filters on your virtual help desk. It’s like having a personal assistant for every customer. 

What challenges or concerns did you encounter when implementing AI technologies within your organisation, and how did you address them?

To be honest, as a high-growth tech startup, we haven’t encountered many pushbacks from our team when implementing AI technology. We fully embrace it.

As a company, we strongly believe in the rise and ubiquity of AI in our everyday personal and professional lives. We recognise that to stay relevant, we must embrace this technological revolution. It feels like the dot-com era; we want to be at the forefront of this exciting time.

Of course, we understand that some people may be concerned about AI’s impact on human jobs and privacy. But AI can enhance our everyday tasks and remove possible human errors, for example, grammar. 

Again, it’s like having Michael Jordan doing the free throws for you in a basketball game – who wouldn’t want that?

That being said, we take these concerns seriously and strive to ensure that our AI technologies are implemented ethically and responsibly. We also recognise the importance of human interaction in certain areas, such as building trust and resolving complex issues.

So while we are embracing AI, we also understand the value of the human touch and are refining how we meld the two.

How do you ensure transparency and uphold ethical considerations in using AI technologies within your organisation to mitigate privacy concerns?

As a data processor and controller of our customer’s data, we take data and privacy concerns extremely seriously. To this end, we have invested significant time and effort in obtaining the required certifications, including the recent ISO/IEC 27001 certification.

This certification is widely recognised as the “gold standard” of third-party validation for security posture. This means that our platform has established a robust infrastructure to manage risks to customer data.

Regarding using AI technologies for customer support, we believe in striking a good balance between security and responsiveness. While automated support has its advantages, it is not always foolproof. There is still a chance of the AI producing inaccurate answers, especially if users try to work around the constraints we have designed.

The model and computing power required to run these systems can also be expensive. Therefore, we believe that a hybrid model that combines automated and human support would be the most effective solution.

To ensure transparency and take into account ethical considerations, we take extra precautions when using external AI platforms to ensure that zero client data and information are uploaded. Within our platform, SleekFlow AI is governed by our robust closed-loop architecture, which is regularly tested by external independent agencies and has passed the required data and security requirements.

By offering a range of AI models and prioritising accuracy and security, businesses working with SleekFlow can get the best possible AI-powered support while maintaining full transparency and meeting the highest ethical standards.

How do you ensure that AI technologies complement your workforce’s existing skills and expertise rather than replacing or displacing human workers?

I believe that while AI has its advantages, it can never fully replace humans. As Jack Ma said, “You can always make a machine to learn the knowledge. But it is difficult for machines to have a human heart.” We understand that it is the collective wisdom and experiences of people that bring a business idea to life.

In the case of entrepreneurship, if businesses could be built from theories and machines alone, every business would have already succeeded. The founders, business owners, and teammates, who are made up of people, share collective wisdom and experiences to bring life to a business idea. That’s why I think AI is not here to replace humans; it’s here to enhance them.

We take a human-centric approach to AI development to ensure that AI technologies complement our workforce’s existing skills and expertise. We should involve our workforce in the AI development process and provide training and upskilling opportunities.

We should also focus on developing AI solutions that automate repetitive tasks, allowing our workforce to focus on more strategic and creative tasks that require human skills and expertise.

How do you envision the future collaboration between humans and AI? What role do you see AI playing in augmenting human capabilities?

A hybrid model that combines the strengths of AI-powered chatbots and human workers is ideal.

We built SleekFlow AI to foster AI-human collaboration as the way forward, with AI augmenting human capabilities to provide objective and wise consultation while also being able to stand in for humans on certain occasions.

Just like Alfred can never replace Bruce Wayne as Batman, AI can never replace humans, but it can support us in our day-to-day activities and tasks – and vice versa.

What advice would you give to founders looking to leverage AI in their workforce?

Embrace it! As a founder, you are built to innovate, dream of what’s possible, and be the front-runner for change. Leveraging AI is the surest way of staying relevant and being part of the inevitable domino effect: the AI revolution.

It could transform whole industries, not just conversational commerce and society. As a founder, it’s crucial to stay ahead of the curve and explore how AI can be used to augment human capabilities. 

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Singapore-based waste management company Blue Planet has secured an undisclosed sum in funding from Malaysian PE firm Bintang Capital Partners.

The startup will utilise the capital to expand its operational teams and waste management technologies to pave the way for handling a broader range of waste types in current and emerging markets.

Founded in 2017 by Madhujeet Chimni, Prashant Singh, and Bharadwaj Chivukula, Blue Planet provides waste collection, transportation, segregation, processing, and treatment services. It has a presence in India, Malaysia, Singapore, and the UK.

Also Read: (Exclusive) Myanmar’s waste-management startup RecyGlo raising US$900K to expand into Indonesia, Singapore

Blue Planet reportedly manages 15,200 metric tonnes of waste daily, produces 10,000 normal cubic metres of biogas (as clean energy) each day from organic materials, and has recovered more than 800 acres of land (legacy landfills) for the public. It claims to have processed 3.3 million metric tonnes of waste, reducing two million metric tonnes of CO2 emissions last year.

Prior to the latest round, Blue Planet secured investments from the Neev Fund, OSK Ventures International, and Japan’s Mizuho Asia Partners. It has also acquired Disaster Restoration Singapore, Xeon Waste Managers in India, and Qube Renewable in the UK.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

Image credit: Canva

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