Data is key to unlocking a business’ true potential in today’s fast-paced, digital-first environment. However, research shows that organisations are still struggling to effectively harness data for business benefits.

Most companies have yet to tap into the vast reserves of data stored within their systems. An estimated 55 per cent to 80 per cent of business data is “dark”, meaning it is untapped and fails to provide insights, operational improvements, or growth opportunities.

One of the most significant challenges is that data tends to be more open in remote repositories and disorganised across multiple applications, systems, and devices within an enterprise. The challenge becomes even more pronounced with unstructured data, which, as predicted by International Data Corporation IDC is expected to comprise 80 per cent to 90 per cent of all data by 2025.

Emails, documents, records, rich media files, web pages, social media content, and other types of unstructured data are all included. It is difficult to analyse and comprehend due to the lack of organisation within structured databases.

Asia’s unique challenges in data management

According to a report by Oracle and Seth Stephens-Davidowitz, business leaders in Asia Pacific and Japan (JAPAC) are facing the challenge of managing an overloaded quantity of data, despite recognising its critical role in driving organisational success.

These leaders express concerns about the need for more adequate tools and resources necessary for effectively leveraging data, which has resulted in lower confidence, delayed decision-making, and an increase in errors.

Also Read: How data centers adapt to shortages with advanced tech solutions

Notably, 90 per cent of respondents acknowledge that possessing the right type of decision intelligence can make or break their organisation’s success in crucial domains such as human resources, finance, supply chain, and customer experience.

Furthermore, an overwhelming 96 per cent of respondents strongly desire assistance with data, understanding its potential to improve decision-making, mitigate risks, expedite the decision-making process, enhance profitability, and enable effective contingency planning.

The report also sheds light on the difficulties associated with data collection and interpretation. A significant 75 per cent of business leaders indicate that decisions are often made first, followed by a search for data to justify those decisions. Additionally, 74 per cent of employees believe businesses frequently prioritise the opinions of the highest-paid individuals over data-driven insights.

So, what should businesses do to refine and extract data from this valuable resource?

Capitalising on AI and Big Data: Driving innovation and efficiency

The good news is that progress is being made in effectively addressing the challenges posed by “dark” unstructured data, thanks to big data and AI. Without data, artificial intelligence wouldn’t be effective, and without artificial intelligence, the abundance of raw data would be challenging to utilise efficiently or in real time. AI tools make data preparation easier.

Advanced AI technologies like machine learning and natural language processing are crucial in helping companies expedite data discovery and delivery. These technologies greatly enhance information searches, providing relevant content and knowledge to support decision-making, boost employee productivity, improve customer satisfaction, enable self-service capabilities, and more.

AI has the potential to revolutionise how we understand products and consumer behaviour. By analysing unstructured data, businesses can track consumer patterns, identify unmet needs in competitive markets, and make informed decisions to innovate, expand, and offer personalised recommendations to customers.

Also Read: How data centers adapt to shortages with advanced tech solutions

Different industries utilise data in different ways. In healthcare, big data and AI have been instrumental in improving diagnostics, reducing errors, and enhancing overall efficiency, leading to better patient experiences and cost savings. When it comes to analysing large amounts of data, AI comes in handy.

It can quickly detect and report unusual demand behaviour across a distribution network. This means you can stay on top of things and respond promptly. Plus, AI works hand in hand with traditional demand-planning tools, taking away the hassle of manual tasks.

In retail, data is primarily used for supply chain management and gaining insights into customer behaviour. It enables personalised offers and targeted marketing based on past interactions. The manufacturing industry has also witnessed significant benefits from leveraging big data.

Data is collected and analysed at every stage, from the supply chain to quality control, enabling manufacturers to maintain quality standards while optimising costs through data analytics. In essence, nearly every industry stands to gain by harnessing the power of data and AI to enhance processes and overall performance.

Embracing the power of AI and Big Data

Companies are creating vast amounts of data every day, every hour, every minute, and every second. Datasets are only going to get bigger. To tackle these challenges and thrive in this data-rich environment, businesses should harness the power of AI and big data to drive innovation, streamline operations, and achieve greater efficiency.

These technologies enable businesses to make well-informed decisions that positively impact various aspects of their operations, from customer experience to supply chain management.

By strategically leveraging these technologies, organisations can position themselves for sustained growth and capitalise on the various opportunities presented by our data-driven world.

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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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Kora, an agritech startup focused on innovations in the post-harvest maize sector in Indonesia, has secured US$400,000 in a pre-seed funding round from Antler and eFishery founder and CEO Gibran Huzaifah.

The new capital will allow Kora to broaden its operational scope, providing better technological assistance to farmers in Lampung, Indonesia.

Founded in 2022 by Dian Prayogi Susanto, Kora aims to elevate the quality and output of post-harvest maize, a crop selected for its pivotal role in Indonesia’s agricultural supply chain and its impact on animal feed costs. Strategically, the startup aims to disrupt the conventional maize supply chain by uniting all parties involved — from farmers to middlemen — under a streamlined B2B model.

Beginning with partnerships involving 30 farmers, Kora has expanded that number to approximately 130.

Also Read: eFishery will look to expand across Asia, Middle East: CEO Gibran Huzaifah

Kora claims to have sold nearly 11 million kilograms of maize in just ten months, generated US$2 million in revenue and achieved profitability. According to the firm, it saw a 5x revenue increase in Q1 2023 compared to the same period last year.

Kora is considering opportunities to branch out into the post-harvest sector for other agricultural commodities besides maize.

“Currently, more than 90 per cent of small-scale farmers don’t have access to post-harvest maize processing facilities or major corporate buyers, which often leads to multiple intermediaries in the sales process. Kora aims to shorten this supply chain,” said Susanto. “By leveraging technology, Kora enables farmers to produce maize that is more consistent, durable, and nutritious. This allows them to sell directly to large-scale buyers at competitive rates.”

The maize industry is a strategic sector in Indonesia, covering a land area of 5.5 million hectares and boasting an annual industry value of approximately US$15 billion. In 2022, the maize production is estimated to reach 44 million tons (25.3 million tons of high-moisture corns and 18.7 million tons of stored dry-shell corn) against a demand of 16.98 million tons.

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Image Credit: Kora.

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As an investor in the sports and entertainment business, I often get asked by founders for advice on how to navigate the current world of sports – what types of technologies are executives most receptive to, what’s working and what isn’t, and what to expect from a pure economic outlook.

On the latter, it’s pretty easy.

Today the sports business is booming. More teams are for sale, buyers are lining up, and valuations are through the roof. Since COVID, the sports business has rebounded, and funding of sports tech startups is at an all-time high, with the global sports tech industry estimated to surpass US$40 billion by 2026.

In short, it’s an excellent time to be an entrepreneur, but purse strings are getting tighter and more scrutiny will be placed on attracting and retaining new fans while also leveraging new technologies to grow on the top line.

The conversation gets a little trickier regarding which technologies will make the biggest impact. This is because sports, for all of its jumbotrons and NFT fanfare, is notorious for being behind the eight ball when it comes to embracing innovation, with startups themselves too quick to focus on point solutions, while failing to appreciate how technology can transform the holistic fan experience. 

My advice is to look for guidance from other industries. Take the travel industry, for example. It’s a space with many of the same pain points encountered in sports – from ticketing to waiting in lines and even the venue. The one big difference is that travel, for all of its hardships, has found a way to be one step ahead of sports.

From immersive AR/VR experiences to cutting-edge ticketing to personalized flight boards, it’s turning airports into tech-infused, personalized entertainment experiences, and much can be learned from what they are doing.

Reflecting on this, here are some key innovations in travel every sports entrepreneur should take a hard look at. I guarantee you every sports executive is doing the same, and in some cases, they already have. 

Discovery: A personalised customer experience

One of the biggest issues keeping sports executives up at night is how to engage younger digital-first sports fans. Millennials, GenZ, and Gen-Alpha have lost interest post-covid and it’s clear that a more personalized immersive experience is needed to navigate the attention economy.

Enhancing a customer’s complete journey with VR/AR, volumetric video and short-form will open doors for sports and entertainment. 

One of the most innovative approaches being deployed in the volumetric space is Qatar Airlines’ launch of a novel virtual reality (VR) experience on their website so visitors can tour and navigate check-in areas and cabin interiors. It even introduced the first MetaHuman cabin crew, offering a truly digital interactive customer experience. 

Another example is Detroit’s Metro airport, travelers can walk through the airport seeing personalised information on large screens for their eyes only. All they have to do is scan their boarding pass and it opts them into their own “parallel reality” journey.  These are the types of experiences that sports venues could easily replicate.  

Butts in seats: Playing catch up on ticketing

When it comes to ticketing, it doesn’t take a congressional hearing to know that the sports and entertainment ticket-purchasing funnel is broken.  I can buy a plane ticket on hundreds of websites but when it comes to seeing my favourite team or artist, my options are limited. 

The airline industry was the birthplace of dynamic pricing. Long before companies like QCue emerged as the incumbent in live entertainment, airlines were using dynamic data to tailor offerings to customers and today they’ve gotten even smarter, making 12 million daily changes within its pricing database, up from two million in 2018 according to ATPCO. 

We are starting to see a shift toward distributed commerce and social selling models in the sports and entertainment industry. Startups like Project Admission, Season Share, and Fevo represent an emerging breed of ticketing platforms that complement and enhance existing (legacy) players in the space.  

The venue experience: Transactional to immersive

Sports venues need to think outside the box (seats) to offer more opportunities for fans, making the stadium, not just a “destination” but an immersive journey. Airports are already doing this. Premium spaces (aka clubs) have transformed into a mecca of digital offerings to make travel less stressful– including seamless biometric entry, mobile ordering, and even your own VR assistant ensuring you never miss a flight.

The departure-day experience– much like the gameday experience– has moved from transactional to a pre and post-flight immersion and airlines are no longer sitting on the sidelines when it comes to personalizing the journey.

Combining the mall, gym, and other forms of entertainment, airports can maximise revenue and further personalize the travel journey. What does this trend imply for the future of sports venues?

Simply put: open the gates earlier, charge more for premium access, go beyond endemic experiences, and immerse fans with innovative technologies that go beyond sports.

Behind the scenes: Creating a frictionless experience

Long lines outside a big game leave something to be desired and take away from the fan experience. Couple this with long waits for food and beverage, it’s a problem for almost every sports team– especially in the MLB pitch-clock era.  The travel industry understands the problem well, which is why they are embracing technology to address common pain points and inefficiencies downstream and behind the scenes.

The Star Alliance and their push toward biometric boarding have paved the way, with half of its 26 members planning to use biometrics technology by 2025. SITA and NEC are also at the forefront of this frictionless experience, which will not only alleviate congestion but also provide an additional layer of data and analytics (not to mention, add momentum to what will soon be known as a ‘facial wallet’ or ‘face pay’). California-based PopID is one of many companies powering this biometric push.     

The Takeaway

Airlines and airports continue to rewrite the narrative– turning what was once a massive pain into something entertaining, fun and addictive. It’s time for sports and entertainment entrepreneurs to do the same.  

Sourcing and supporting venture-backed companies in sports and entertainment is extremely rewarding. Still, as I look to future trends that intersect the industry, I’ve turned to travel as a source of inspiration and innovation. Flight delays don’t bother me as much anymore because being stuck at an airport or on a plane is where I can soak up invaluable learnings and source new investment opportunities.  

And it looks like I’ll have more opportunities to uncover new startups, as airports are starting to play venture capitalist – joining their airline partners in investing in next-generation technologies.

So, next time I say “I’m travelling,” perhaps I’ll simply say I’m conducting market research. It seems on-brand to be writing this at 30,000 feet, immersed in my own personalised, tech-rich wonderland.

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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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Antler, eFishery CEO invest in Kora

Kora, an agritech startup focused on innovations in the post-harvest maize sector in Indonesia, secured US$400,000 in a pre-seed funding round from Antler and eFishery founder and CEO Gibran Huzaifah.

The new capital will allow Kora to broaden its operational scope, providing better technological assistance to farmers in Lampung, Indonesia.

Founded in 2022 by Dian Prayogi Susanto, Kora aims to elevate the quality and output of post-harvest maize, a crop selected for its pivotal role in Indonesia’s agricultural supply chain and its impact on animal feed costs. Strategically, the startup aims to disrupt the conventional maize supply chain by uniting all parties involved — from farmers to middlemen — under a streamlined B2B model.

Novelship bags US$9.5M

Singapore-based online streetwear marketplace Novelship raised US$9.5 million in a Series B funding round led by East Ventures, iGlobe Partners, and GSR Ventures.

The company will use the fresh funds to amplify its brand presence across Southeast Asia, involving logistics improvements, authentication process refinement, expansion of in-house collections, and optimisation of eco-friendly delivery methods.

Founded in 2018, Novelship is a marketplace for buyers and sellers to trade 100 per cent authentic sneakers, limited-edition apparel, and exclusive physical and digital collectibles.

Novelship said it has rapidly expanded in recent years, with a compound annual growth rate of 37 per cent in revenue and 55 per cent in transactions.

Ascent Venture launchesUS$200M fund

Indonesian VC funds ARISE and Centauri Fund merged to form Ascent Venture Group, with a corpus of US$200 million.

The fund will invest in 25 high-potential, early-stage, tech-enabled companies focused on Indonesia and the rest of Southeast Asia with a “thesis-driven” approach. The key focus sectors are MSME enablement, financial service digitalisation, and neo-consumer, climate, and healthcare across Southeast Asia.

The venture platform has four partners, ten investment professionals, and supporting staff across Jakarta, Singapore, and Seoul offices. Ascent is managed by serial entrepreneurs and investors Aldi Adrian Hartanto, Hans De Back, Kenneth Li, and Eric (Jung Ho) Yoo (representing KB Investments).

SIMPPLE lists on Nasdaq

Singaporean proptech company SIMPPLE commenced trading on the Nasdaq Capital Market under the ticker symbol “SPPL”.

The company has listed 1.6 million shares on the Nasdaq at US$5.25 apiece and expects to raise aggregate gross proceeds of US$8.4 million from the offering of about

The capital will be used for R&D, IP strategy and implementation, scaling up sales and marketing into overseas markets, opening selected satellite offices, potential acquisitions and strategic investments, and working capital and general corporate purposes.

Founded in 2016, SIMPPLE is an advanced technology solution provider in the emerging proptech space, focused on helping facilities owners and managers manage facilities autonomously.

US$100M fund KXVC to back deeptech, Web3 startups

KASIKORNBANK (KBank) launched a new US$100 million flagship fund KXVC, targeting global AI, Deep Tech, and Web3 fintech startups who would like to enter and expand in Asia Pacific (APAC).

The fund will be led by KBTG Group Chairman Krating Poonpol, who has a track record of over 100 investments, four unicorns, and 10 exits across five funds, and KXVC Managing Director Jom Vimolnoht, who experienced US$400 million in startup investments and backed more than 35 startups in the region.

KXVC plans to invest in over 30 startups and funds globally with a geographic focus in the US, EU, Israel, and APAC, with the ability to lead and participate in a funding round.

Buyandship scores US$10M

Buyandship, a global cross-border e-commerce platform headquartered in Hong Kong, made the first close of its Series B round with a US$10 million strategic investment led by Cool Japan Fund.

The company will use the capital to automate operations and R&D in Artificial Intelligence and Machine Learning capabilities, as well as to expand into Southeast Asia.

Buyandship aims to offer consumers a “simple and intuitive e-commerce experience” to purchase products globally. Over the past 12 months, it has built an automated shopping assistant, utilising a Robotic Process Automation (RPA) model to boost its order processing capacity.

SEC investigates Society Pass

The Supreme Court of the State of New York (the US) ordered Nasdaq-listed Society Pass to award a significant block of pre-IPO shares that could be valued as much as US$6.61 million, with up to an additional US$2.38 million penalty interest, to its co-founder and former CMO Thomas O’Connor for the breach of the Common Stock Purchase Warrant, court documents accessed by e27 showed.

Granting the partial summary judgment in O’Connor’s Motion against the data-driven loyalty company in May 2023, the court ruled that he had “validly exercised his right to purchase 1,148 shares of Society Pass Incorporated under the terms of the Warrant”.

As per Society Pass co-founder and CEO Dennis Nguyen’s deposition in the court (a copy of which is in e27‘s possession), each pre-IPO share is indicatively worth US$5,763, which translates to US$6.61 million. Adding the court-sanctioned penalty interest of 9 per cent per year will make it approximately US$9 million in total as of today.

Parallax nets US$4.5M

Parallax, a Blockchain-powered money remittance startup based in the Philippines, received US$4.5 million in a funding round led by Dragonfly Capital, with participation from Circle Ventures (the issuer of USDC), General Catalyst, gumi Cryptos Capital, Palm Drive Capital, Comma Capital, and Firsthand Alliance.

Angel investors, including Zach Abrams (former Head of Product at Brex/Coinbase) and founders and operators at various fintech companies, also joined the round.
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The fintech startup will use the money to grow the team and scale its operations.

Founded by Mika Reyes (CEO) and Alex Kuang (CTO), Parallax aims to provide “fast and cheap ways” to move money globally. It leverages blockchain technology to provide near-instant and cheaper (claims to save 83 per cent in fees) international payments.

Temasek, NUS, NTU to invest US$55M in deeptech startups

The Nanyang Technological University, Singapore (NTU Singapore), the National University of Singapore (NUS), and Temasek launched a joint S$75 (US$55) million pilot programme to accelerate the creation of successful deep-tech startups from the pipeline of research at NTU and NUS.

Temasek will invest S$65 (US$48) million, mostly through its early-stage deep-tech investing platform Xora Innovation, in deeptech startups, while NTU and NUS will each invest S$5 million.

Temasek and Xora will collaborate with NTU and NUS to launch and build globally competitive ventures with strong potential to address large global market opportunities in energy transition, biotechnology, and the future of computing and cognition.

In addition, the two universities will develop a common Intellectual Property (IP) licensing framework, which will expedite the licensing and translation of university technologies for spin-off companies. The outcome will be a shorter process of one month instead of the usual period, which can take up to five months.

Vertex Ventures closes Fund V at US$541M

Vertex Ventures Southeast Asia & India closed its fifth and newest fund with commitments of US$541 million, exceeding its original target of US$450 million.

Vertex Ventures Southeast Asia and India Fund V (VVSEAI Fund V) is backed by existing and new LPs, including sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe. Japan Investment Corporation, International Finance Corporation (IFC) and DEG (German Development Finance Institution) are some of its LPs.

The fund corpus includes a dedicated co-investment envelope of US$50 million for co-investing alongside the main fund in female-founded startups. More than 35 per cent of the startups in VVSEAI Fund IV have at least one female founder, and this envelope will be used to further the fund’s intention of supporting more women entrepreneurs.

Wego acquires Travelstop

Singapore- and Dubai-headquartered Wego, which runs an online travel marketplace in the Middle East and North Africa (MENA), acquired Travelstop, a business travel and expense management company.

This strategic move will expand Wego’s reach into business travel and expense management.

The acquisition will also empower Singapore-based Travelstop to tap into Wego’s regional network and provide enhanced services to its customers.

The combined platform will provide businesses with a one-stop solution, enabling them to manage their corporate travel needs while gaining greater visibility and control over expenses.

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The image used 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 specialised 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.

From pet abandonment to pet care ease

My Animal Dispensary educates pet owners on responsible pet care and animal welfare through campaigns, workshops, social media initiatives.

Pearl Tan, Co-Founder & CEO of My Animal Dispensary

Rising pet abandonment cases in recent years, driven by factors like inflation and the return of pet owners to offices, highlight the need for better pet care solutions. Pet owners face challenges such as financial constraints, limited access to veterinary services, and the need for specialized care for elderly or disabled pets.

My Animal Dispensary, an online platform, seeks to address these issues by offering prescription diets, supplements, medications, and accessories, promoting transparency and quality control. As pet ownership responsibilities evolve, solutions like My Animal Dispensary aim to ensure the welfare of pets in an increasingly digital world.

Why your business should consider a multicultural cybersecurity team

Adapt your hiring process to welcome diverse backgrounds and harness the advantages of a multicultural cybersecurity team.

Zachary Amos, Features Editor at ReHack

Diverse and multicultural cybersecurity teams offer various advantages, including increased productivity, creativity, and better decision-making. The cybersecurity sector faces a worker shortage, and increasing diversity can help bridge the skill gap. However, the sector lacks diversity, with underrepresented groups making up a small percentage of the workforce.

To build a multicultural cybersecurity team, companies should remove bias from the hiring process, have a diverse interview panel, generate a diverse candidate pool, and emphasize diversity in their brand. Such teams contribute to better problem-solving and employee retention while increasing profitability.

Social media oversharing: An invitation to cybercriminals

There are plenty of cases where people have been hacked, scammed, or blackmailed because they shared too much personal info online. And it’s not just celebrities – regular folks like you and me are at risk too.

Bernadetta Septarini, Content and Social Media Marketeer at ArmourZero

World Password Day serves as a reminder that strong passwords alone aren’t enough to protect against cybercriminals. Oversharing on social media can expose individuals to various risks.

This article highlights real-life cases of cyberattacks resulting from oversharing and explains how cybercriminals can exploit shared information. It emphasizes the importance of strong passwords, two-factor authentication, and caution with suspicious messages.

To protect personal data, the article advises users to be mindful of what they post, control privacy settings, and stay updated on security measures. Being vigilant and following best practices can help safeguard against cyber threats.

The neuroscience of startups: Unlocking the brain’s potential for business success

The next time you’re faced with a startup challenge, don’t just think like an entrepreneur; think like a neuroscientist.

Sana Ross, Peak Performance Strategist

Startups can harness neuroscience principles to enhance decision-making, teamwork, and overall success. This article delves into how understanding brain functions can benefit startups. It explores decision-making by engaging the prefrontal cortex and suggests mindfulness and decision matrices to improve choices.

Emotional intelligence and team dynamics are discussed in relation to the amygdala’s role in emotions, emphasizing the value of emotional intelligence training. The article also highlights dopamine’s impact on motivation and productivity and offers strategies for managing stress and preventing burnout, underscoring the importance of neuroplasticity in fostering adaptability and continuous learning within startups.

Also Read: e27’s contributor corner: Highlights from this week’s article

Institutional involvement and government support: Driving the growth of the crypto industry

As institutions enter the crypto space, they bring credibility, accessibility, and new investment opportunities for retail traders.

Jenny Zheng, Early Crypto Advocate and Business Development Lead at Bybit

Institutions like banks and asset management firms, such as Deutsche Bank and BlackRock, embracing digital asset licenses and Bitcoin ETFs represent a significant shift towards cryptocurrency acceptance.

Their actions not only signify confidence in crypto’s potential but also encourage more institutional involvement. These moves have positive implications, including increased retail investor participation and liquidity, leading to cryptocurrency price appreciation.

Government support, favourable regulations, and CBDC initiatives further boost the crypto industry’s growth and acceptance. Collaboration among stakeholders is essential to establish balanced regulatory frameworks promoting innovation and risk mitigation.

The state of cybersecurity in 2023: How APAC organisations can stay ahead of the curve

The key variable in cybersecurity is the human factor, including errors like inadequate training and phishing susceptibility leading to data breaches.

Ashish Thapar, Vice President and Head of Cybersecurity at NTT in Asia Pacific

The Asia Pacific cybersecurity landscape is increasingly complex due to rapid digitalisation and hybrid work environments. Cybercriminals exploit vulnerabilities in supply chains and cloud systems.

Organisations must prioritise risk management and preventive measures, including zero-trust architecture and training to address human error. Partnering with managed service providers can offer expert solutions. A proactive cybersecurity culture is essential to safeguard digital assets in this evolving threat landscape.

Operational AI: The silent, yet, strategic revolution shaping modern business

Generative AI impresses with creativity, but Operational AI emerges as the catalyst for impactful real-world change.

Harshdeep Rapal, Co-Founder and CEO at LeanFlo

In the world of AI, two main paradigms, Generative AI and Operational AI (Applied AI), have emerged. While Generative AI excels in creative content generation, Operational AI focuses on streamlining business operations through automation and data-driven decision-making.

Operational AI is gaining prominence due to its tangible impact on efficiency, cost reduction, data-driven decision-making, enhanced customer experiences, and security. It aligns with business goals, offers versatility, delivers immediate ROI, and future-proofs operations. Operational AI is the driving force behind transformative change in various industries.

Beyond the cloud: Entering the Web3 horizon for greater security

While cloud adoption has greatly supported digitalisation efforts and our ability to work effectively across borders, there are many questions about cloud security that remain unaddressed.

Camellia Chan, Founder and CEO at Flexxon

Dropbox’s decision to end its unlimited cloud storage offering has sparked concerns as the use of cloud storage becomes a business norm. While centralised cloud solutions like AWS, Azure, and Google Cloud offer convenience, they also raise data privacy and security issues.

Centralised cloud storage providers are attractive targets for hackers due to the volume of data they host, and incidents of data breaches have increased. Decentralised dynamic security storage, leveraging blockchain and Web3 technology, offers a potential solution by distributing data across a network of global nodes, enhancing data control and security.

How to stay creative in the age of Generative AI and Web3

In the midst of an avalanche of technology news in creative industries, we navigate an unprecedented era of creativity and fear of being left behind.

Vasanth Seshadri, Founder of The Sunny Side

In April 2023, the Sony World Photography Awards saw a unique winner — Boris Eldagsen, with an AI-generated photo titled “Pseudomnesia: The Electrician.” This followed artist Jason M. Allen’s win in August 2022, creating a painting titled “Space Opera Theater” using the generative AI tool Midjourney. Meanwhile, the Bored Ape Yacht Club NFT series hit a milestone when one ape was sold for nearly US$1 million in January 2023. Amid this tech-driven creative revolution, the importance of human creativity remains paramount, marrying the logic of technology with the magic of human ingenuity.

The Vietnamese market and Apple Pay: Excellent support or just unmet expectations?

Apple Pay has a limited impact on Vietnam’s e-wallet market due to its iOS user base, POS machine requirement, and reliance on international payment cards.

Kevin Nguyen, CEO and Co-Founder at Adamo Software

Apple Pay’s impact on Vietnam’s e-wallet market has been limited due to several factors. It exclusively serves iOS users, requires businesses to have POS machines, and only accepts international payment cards.

While it has excited Vietnamese iOS users, it mainly targets a higher-income user group. Local e-wallets like MoMo offer more comprehensive services and support domestic cards and bank accounts, making them more accessible to a wider range of users. Apple Pay’s impact on the market is minimal due to these limitations.

From complexity to clarity: How fintech makes people and business life easier

Navigating the impact of fintech in both B2C and B2B sectors, uncovering hidden tools and niche projects enhancing financial experiences in Indonesia.

Artem Moskalev, Co-Founder of IVITECH.Drive

The fintech sector offers a user-friendly experience with various technologies impacting our daily lives.

While banking apps, payment methods, and e-wallets are common, niche projects like Skorlife in Indonesia offer credit score monitoring and identity protection. IVITECH.Drive provides electric bikes to ride-hailing drivers, improving income and reducing pollution.

Ajaib streamlines online investments for millennials, making them accessible with minimal investment. B2B fintech tools like OnlinePajak simplify tax management, while Crowde aids farmers in securing working capital through peer-to-peer lending.

Fintech enhances both individual financial solutions and business profitability, offering a promising future of prosperity.

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

Trust me, PR is with you day and night!

Expertise, creativity, and emotional understanding remain three key advantages for PR professionals in this ever-changing landscape.

Mai Anh Le, Regional Country Manager at Global PR Hub

The quote often attributed to Bill Gates, “If I only had two dollars left, I would spend one dollar on PR,” highlights the power of Public Relations (PR). However, recent debates, fueled by Robert Phillips’ book “Trust me, PR is dead,” challenge the future of PR. AI, like ChatGPT and DALL-E, is changing the landscape, but communicators must adapt and embrace AI’s potential while emphasizing ethical adoption and enhancing AI literacy. Key PR functions, a data-driven mindset, and technological adaptability are essential for PR’s continued relevance and value in a changing landscape.

Breaking into the data centre sector: Beyond technical expertise

Data centres are complex projects, and the exponential growth of demand in this sector infers tight design and construction program timelines.

Steve Raye, Associate Director at Linesight Singapore

The data centre sector has seen remarkable growth, fueled by a 440 per cent increase in global internet traffic from 2015 to 2021. Singapore has emerged as a key hub for data centres in Asia. These facilities are vital for our digital world, driving technologies that shape our daily lives. Becoming a Cost Manager in this field requires education in related disciplines, soft skills like problem-solving and communication, and a commitment to ongoing learning.

The role involves diverse tasks and responsibilities, with a focus on cost estimation and management, as well as staying updated on industry developments, especially in energy efficiency and sustainability. The demand for skilled professionals in this sector is high, offering opportunities for career growth and global mobility.

How to drive business innovation with AI-powered data analytics

In the face of ever-expanding datasets, businesses must leverage AI and big data to drive innovation and streamline operations.

Kenneth Kuek, Country Lead at InterSystems

Data holds immense potential for businesses in the digital age, yet a substantial portion of it remains untapped, referred to as “dark data.” Managing this data, particularly unstructured data presents unique challenges. In the Asia Pacific and Japan region, business leaders struggle with data overload and the need for better tools and resources.

AI and big data solutions can help extract insights from this data, improve decision-making, enhance efficiency, and drive innovation across various industries, from healthcare to retail. Embracing these technologies is essential for businesses looking to thrive in a data-rich environment.

Acing in hackathons: What every tech enthusiast needs to consider

After participating in over 80 hackathons, a journey of multiple wins and experiences, here are my key takeaways.

Daryl Lim, Co-Founder at MetaPals

Lim’s journey in entrepreneurship was sparked by his fascination with emerging technologies like blockchain and Web3. Participating in hackathons became my gateway into this world, enabling me to explore the transformative potential of these technologies.

Over the years, he has learned that hackathons are more than coding marathons; they are arenas for creativity and problem-solving. Success in hackathons relies on passion, continuous learning, and building the right team. These experiences have led him to focus on digital empowerment, sustainability, and financial inclusion in my hackathon endeavours, aiming to create solutions that have real-world impact.

Navigating sports tech using the travel industry’s playbook

It’s an excellent time to be an entrepreneur, but purse strings are getting tighter and more scrutiny will be placed on attracting and retaining new fans while also leveraging new technologies to grow on the top line.

Michael Proman, Venture Partner at Scrum Ventures

As an investor in the sports and entertainment sector, navigating the world of sports today offers significant opportunities. The sports business has rebounded post-COVID, with funding for sports tech startups reaching all-time highs.

However, it’s crucial for entrepreneurs to understand which technologies can make a significant impact in an industry historically slow to embrace innovation. Drawing inspiration from the travel industry, personalised immersive experiences, dynamic ticketing, immersive venue experiences, and frictionless behind-the-scenes operations can transform the sports fan experience and enhance profitability.

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In an era marked by increasing climate-related disasters, the need for innovative solutions to mitigate their impact has never been more pressing. The SAFE STEPS D-Tech Awards 2023, organized by Prudence Foundation in collaboration with e27, is a paramount project that seeks to address challenges in this space. This initiative seeks to put the spotlight on groundbreaking startups with disaster-preparedness technologies and underscores the pivotal role of such innovations in safeguarding lives during times of crisis.

The primary objective of the SAFE STEPS D-Tech Awards 2023 was to uncover and champion the most pioneering ideas and startups armed with technologies applicable in the phases before, during, or after disasters strike. This objective served as the compass guiding e27 and Prudence Foundation’s joint efforts throughout the project.

e27’s contributions to the project’s success

With a comprehensive program management approach, e27 seamlessly orchestrated every facet of the project, from the initial call for applications to the management of virtual events, ensuring that each stage was executed with precision and dedication. The six-month duration of the project was marked by rigorous efforts, culminating in the resounding success that is the SAFE STEPS D-Tech Awards 2023 finals held at the Echelon Asia Summit 2023 in Singapore EXPO.

One of the most notable achievements was the 100% attainment of the startup applications target, a testament to e27’s ability to effectively mobilise and engage the entrepreneurial community of the Southeast Asian tech startup ecosystem.

Moreover, e27 played a crucial role in several other aspects of the project. The team was responsible for putting together the virtual launch, setting the stage for the competition’s journey. Additionally, e27 took charge of organising a private virtual pitch session to meticulously select the semi-finalists, ensuring that only the most promising startups advanced.

Also read: Can hyper-personalisation be achieved through automation and AI?

e27 was also instrumental in selecting and securing mentors, aligning each semi-finalist with industry experts to maximise their potential. Furthermore, e27 undertook the monumental task of organising and managing mentorship sessions for the semi-finalists, providing them with invaluable guidance and support as they refined their solutions.

These efforts were integral in shaping the trajectory of the competition and solidifying e27’s pivotal role in driving the success of the SAFE STEPS D-Tech Awards 2023.

Among the finalists, six standout startups emerged, each presenting innovative solutions poised to revolutionise disaster response and recovery. Castomize Technologies, H3Dynamics, Kinetic Analysis Corporation, QUICKBLOCK Ltd., LivingWaters Systems LLC, and Wateroam all of whom pitched to an audience of ecosystem stakeholders, showcasing the potential of their respective technologies and innovations in the context of saving lives in times of crisis. By the end of the pitching rounds, Wateroam emerged on top.

The imperative of disaster-ready innovations

The SAFE STEPS D-Tech Awards 2023, spearheaded by Prudence Foundation and in partnership with e27, has not only illuminated the path towards a more disaster-resilient future but also reinforced the indispensable role of technology in safeguarding lives. Wateroam’s ROAMfilter Plus 2 stands as a testament to the transformative potential of innovation in disaster management, and Wateroam successfully proved this during the competition.

As climate-related disasters continue to escalate, initiatives like these serve as a beacon of hope, reminding us that the power to save lives lies within the realm of human ingenuity. It is imperative that we continue to champion and support such groundbreaking solutions, for they hold the key to a safer, more resilient future for us all.

Also read: EQT unveils startup impact challenge amid Southeast Asia’s ‘golden period’

Equally important are the efforts of institutions like the Prudence Foundation and e27 in giving a platform for these innovations to thrive and flourish. Through the efforts of both parties, startups with disaster management-related technologies are granted the unique opportunity to access guidance, tools, insights, and resources to further their innovations and therefore, further their efforts in mitigating risks and saving people.

e27’s pivotal role in the SAFE STEPS D-Tech Awards 2023 exemplifies the company’s unwavering dedication to fostering innovation for a more secure future. The project’s resounding success speaks volumes about e27’s ability to mobilise and rally the entrepreneurial community towards a shared mission: revolutionising disaster management.

In an era defined by increasing climate-related challenges, initiatives like the SAFE STEPS D-Tech Awards are indispensable and the partnership between e27 and Prudence Foundation has set a standard for what it means to collaborate in the name of the greater good. Ultimately, The SAFE STEPS D-Tech Awards 2023, guided by such a partnership, serves as a testament to our collective potential to create a more resilient, disaster-ready future.

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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.

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This article was first published on May 26, 2023. 

The exhilarating journey of entrepreneurship is one filled with equal parts excitement and uncertainty. I have long been fascinated with emerging technologies to transform our world. When the groundbreaking concepts of blockchain and Web3 first began to emerge, I knew instinctively that I wanted to be involved in this exciting new frontier.

Upon realising the vast potential of these technologies to transform problem-solving, I became excited to delve deeper into their possibilities. Like many other tech enthusiasts, I dove headfirst into the world of hackathons.

My passion for the field ignited during my first hackathon participation in 2016, serving as a launchpad for my hackathon journey and, later on, entrepreneurship. Over eight years, I joined a plethora of local and international competitions.

Through these experiences, I understood the importance of hackathons as an arena for honing skills, refining ideas, networking with people who matter and fostering innovation. However, the road to success wasn’t a straight one; it was riddled with bumps, twists, and turns, as is the case with most journeys.

The secret winning ingredients

Hackathons are more than just coding marathons; they are crucibles for creativity and problem-solving. Each event can present unique challenges that require out-of-the-box thinking, teamwork, and the relentless pursuit of novel solutions.

Participating in multiple hackathons allowed me to develop a winning formula – one that is predicated on passion, a continuous learning attitude, and the courage to venture into uncharted territories.

At hacksingapore 2022, a pilot last year organised by AngelHack, my team and I designed a groundbreaking social-to-earn metaverse concept that catapulted us to the finalist spot. Based on one of the hackathon pillars surrounding the future of gaming, we created a metaverse gaming platform on a social index, enhancing engagements between players on a social level while earning rewards for interacting with one another.

Also Read: How the metaverse and blockchain accelerates economic development

Unlike hackathons spanning just a day or 48 hours, hacksingapore gave us a good amount of time to find people with the right fit and bond, which I then realised is the most crucial ingredient if your product is great.

Another aspect is to keep learning and gaining from such experiences since, for me, the exposure was certainly the stepping stone to fuel MetaPals, a blockchain startup focused on creating a companion in the metaverse for non-crypto users afterwards.

While triumphs are gratifying, they did not come without their fair share of failures. I would term these as learnings as these were just as instrumental in shaping my journey in hackathons as the successes.

Another ingredient is the team – like-minded individuals who share a common vision and can work in harmony to bring that vision to fruition. For those participating in a hackathon, it is crucial to begin with building a team of individuals with similar values who can collaborate seamlessly towards a common goal.

Solving a real-world problem

Look at hackathons as not merely technology-focused events but as platforms to address compelling real-world problems through innovative solutions. As a participant, consider it your task to create solutions that have practical implications and can truly make a difference.

In its pilot edition last year, hacksingapore presented us with opportunities to employ cutting-edge technologies such as blockchain, no-code, and gaming to tackle community-centric issues. Our efforts were assessed on aspects like design, creativity, technical complexity, and practical feasibility, ensuring the development of solutions that were both innovative and applicable.

As a participant, I made sure I derived learnings from the workshops and collaboration with our IMDA team mentor and networking opportunities with experts, which is crucial to ensure solutions are industry relevant and viable.

This year I have gone back to hacksingapore 2023, the nation’s flagship hackathon, as a mentor. My goal is to share my experiences and insights with participants, assisting them in their hacking journey, which is centred on digital empowerment, sustainability, and financial inclusion. These areas are essential for societal progress, and there is a significant need for innovative solutions in these fields.

Let me dive deep into the ‘why’. Digital empowerment is about harnessing technology to improve information access, education, and resources, thereby enhancing individuals’ and communities’ digital capacities.

Sustainable solutions aim to combat climate change and environmental degradation through digital innovation, promoting eco-friendly practices and reducing environmental impact. Financial inclusion involves employing technology to make financial systems more equitable and inclusive, directly affecting millions worldwide.

I’m eager to see the transformative solutions that will emerge at hacksingapore2023. As a participant, think of yourself as a change-maker using technology as a tool for societal betterment.

As a finalist of hacksingapore 2023, you can present your projects at ATxSG, a major tech event in Asia organised by Infocomm Media Development Authority (IMDA) and Informa Tech. This is part of the hacksingapore’s Grand Finale in June.

Also Read: Pure ideas with no executions to prove do not attract savvy investors: Shao-Ning Huang of AngelCentral

The art and science of collaboration

Having participated in over 80 hackathons and competitions within a span of eight years, hacksingapore is one of my most memorable ones. Undoubtedly, it has played a substantial role in shaping my growth trajectory.

Supported by IMDA and partners with tech giants like Meta, Alibaba Cloud and HEINEKEN, hacksingapore 2023 is distinctively a neutral platform allowing for unimaginable collaborations of talents from different corners of the island, and the intersection of technologies and platforms, thereby proving to be an innovation playground.

Even beyond this hackathon, collaboration and co-creation are key as you build solutions to any hackathon problem. A deep-knit working equation within the team is indispensable, and so are the learnings and insights you can drive from mentors and industry experts. These life skills transcend hackathons’ boundaries and are essential in the entrepreneurial landscape.

Secondly, keep improving your skills through continuous learning. Communities are a great way to update skills and stay abreast with the latest developments in technologies, and participation in hackathons may give you an opportunity to engage with such communities. Leverage those interaction opportunities to take up your learning curve.

A hackathon is a microcosm of the startup journey – it requires ideation, teamwork, execution, and the ability to pivot when faced with challenges. Platforms like hacksingapore 2023 are an opportunity for tech talents to test their skills, challenge themselves, and bring their visions to life while being guided by industry experts.

In this rapidly changing world, it can help hone skills, knowledge, and mindset and fuel the spirit of innovation, collaboration, and resilience. I look forward to the incredible ideas, groundbreaking solutions, and inspiring journeys that will undoubtedly emerge from hacksingapore 2023.

Here’s to dreaming, creating, and innovating – together, we can shape a better future through impactful technology solutions.

–

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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Dear Pro member,

The Supreme Court of the State of New York has ruled in favour of Thomas O’Connor, co-founder and former CMO of Nasdaq-listed Society Pass, ordering the company to award him a significant block of pre-IPO shares valued at up to US$6.61 million. The court also imposed an additional penalty interest of up to US$2.38 million due to a breach of the Common Stock Purchase Warrant.

This decision stems from O’Connor’s valid exercise of his right to purchase 1,148 shares of Society Pass Incorporated under the terms of the warrant.

Society Pass’s financial situation is precarious, with only US$10.9 million in cash reserves.

This legal battle is part of O’Connor’s broader claims against Society Pass, as his attorneys plan to file another motion seeking an additional $8 million (plus penalty interests) owed to him under signed agreements with the company.

The court ruling compounds Society Pass’s existing challenges, including an SEC investigation, a separate lawsuit by another co-founder, Rahul Narain, seeking $1.3 million, and removal from the Russell 2000 index, causing a significant decline in the company’s share price.

These legal and financial troubles could have a detrimental impact on Society Pass, potentially leading to delisting from Nasdaq.

This is the highlight of the week. We also have a lot of exciting stuff in today’s edition.

Enjoy reading.

Have a great weekend.

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US court orders SoPa to pay pre-IPO shares to co-founder; firm under SEC probe
The US court ruled that Thomas O’Connor had “validly exercised his right to purchase 1,148 shares of Society Pass under the terms of the Warrant; As per SoPa’s most recent 10-Q filing, it has only US$10.9M left in its coffers.

ARISE, Centauri Fund merge to form US$200M fund Ascent Venture
Ascent will invest in 25 early-stage, tech-enabled companies focused on Indonesia and the rest of SEA; The key focus sectors are MSME enablement, financial service digitalisation, and neo-consumer, climate, and healthcare.

Vertex Ventures SEA & India hits final close of Fund V at US$541M
Japan Investment Corporation, IFC, and DEG are among its LPs; The fund corpus includes a co-investment envelope of US$50M for co-investing alongside the main fund in female-founded startups.

KXVC’s US$100M fund aims to help deeptech, Web3 founders win APAC
KXVC plans to invest in over 30 startups and funds globally with a geographic focus in the US, EU, Israel, and APAC.

Temasek, NUS, NTU to invest US$55M in deeptech startups in Singapore
NTU and NUS will also develop a unified online platform to provide potential licensors with a one-stop shop to identify and select IPs from both universities that align with their business requirements.

Singapore-based blockchain firm Aelf launches US$50M fund
The fund aims to discover investment opportunities within the Web3 sector, particularly focusing on ‘high-performance’ Layer-1 blockchain projects; It will also concentrate on projects that are looking to shift from Web2 to Web3.

S Korean battery firm TDL Global to invest US$200M in Indonesia
The company seeks to produce electric motorcycle batteries and energy storage systems in the country; It has supplied 20,000 battery units for electric two-wheeler vehicles to Indonesia from its factory in China this year.

Awak raises US$20M Series B for on-the-go kidney dialysis machines
Lead investors are Lion X Ventures and Vickers Venture Partners; Awak’s main offering, called Awak PD, is a peritoneal dialysis system that aims to help reduce the need for long hours of in-center dialysis for ESRD patients.

Wavemaker Impact secures US$15M in ongoing raise for maiden fund
The investor is the US International Development Finance Corporation; Wavemaker Impact works with experienced entrepreneurs to establish sustainability startups that aim to cut 10% of global emissions by 2035.

Online travel marketplace Wego acquires Travelstop
This strategic move will expand Wego’s reach into business travel and expense management; WeGo is an online travel marketplace in the MENA region, while Travelstop is a business travel and expense management company.

Buyandship scores US$10M Series B led by Cool Japan Fund
The company will use the capital to automate operations and R&D in AL and ML and expand into SEA; Buyandship is a cross-border e-commerce company that has built an automated shopping assistant to boost its order processing capacity.

Streetwear marketplace Novelship bags US$9.5M following Snoop Dogg collab
Lead investors are East Ventures, iGlobe Partners, and GSR Ventures; Novelship allows buyers and sellers to trade 100% authentic sneakers, limited-edition apparel, and exclusive collectibles.

Proptech firm SIMPPLE lists on Nasdaq, looks to raise US$8.4M
Singapore-based SIMPPLE will use the money for R&D, IP strategy and implementation, scaling up sales and marketing into overseas markets; The company has listed 1.6M shares on the Nasdaq at US$5.25 apiece.

Blockchain-powered Filipino remittance app Parallax nets US$4.5M
The investors include Dragonfly Capital, Circle Ventures, and General Catalyst; Parallax also introduced the ability to convert USD into local currencies, starting with a few select countries and rolling out to more currencies soon.

e27 Connect investors empower SEA startups: Meet the game-changing funds of last week
Teja Ventures, Foxmont Capital Partners, Global Brain Singapore, and others fuel innovation across Asia’s diverse startup landscape with strategic investments.

Baemin Vietnam CEO Jinwoo Song calls it quits
Baemin is a JV between Delivery Hero and Woowa Brothers; Loan Cao, the firm’s CFO, has been appointed interim CEO; Baemin entered Vietnam in May 2019 and acquired food delivery app Vietnammm, which it later shut down.

Netbank, Akulaku team up to provide loans to underserved Filipinos
The partnership will connect Akulaku’s users to Netbank’s ‘loans-as-a-service’ model; According to Netbank’s website, the firm funds loans and provides payment tools for alternative and traditional lenders in the Philippines.

Antler, eFishery CEO back Indonesia’s B2B agritech startup Kora
Kora aims to disrupt the conventional maize supply chain by uniting all parties involved — from farmers to middlemen — under a streamlined B2B model; Kora claims to have sold nearly 11M kilograms of maize and generated US$2M revenue.

Legaltech startup Hukumku secures funding from East Ventures
The Indonesian legaltech startup offers a platform that connects users with vetted lawyers; All the info about lawyers, their practice licenses, areas of expertise, locations, and user ratings and reviews are available on Hukumku.

E-motorcycle adoption in Indonesia: How to tap into this US$19.2B opportunity
In 2022, there were already 25,782 e-motorcycles in Indonesia, with more than 1,500 swapping stations available per Q1 2023; However, this does not mean that the journey into e-motorcycle adoption is not without barriers.

BuzzAR CEO Bell Beh advocates open conversations on systemic issues to empower women in tech
Beh looks at the milestones that women in tech in Singapore have made in recent years and shares her hope for a more equal future.

Book Excerpt: How chatbot threatens to upend an entire industry in PH
In his book, Talino Venture Labs CEO Winston Damarillo points out the five trends that are changing the business landscape –starting with chatbots.

From complexity to clarity: How fintech makes people and business life easier
Navigating the impact of fintech in both B2C and B2B sectors, uncovering hidden tools and niche projects enhancing financial experiences in Indonesia.

The Vietnamese market and Apple Pay: Excellent support or just unmet expectations?
Apple Pay has a limited impact on Vietnam’s e-wallet market due to its iOS user base, POS machine requirement, and reliance on international payment cards.

How to stay creative in the age of Generative AI and Web3
In the midst of an avalanche of technology news in creative industries, we navigate an unprecedented era of creativity and fear of being left behind.

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MEDEA Biopharma from the Technical University of Munich (Germany) and PlasticFri from Karlsruhe Institute of Technology (Germany) were declared Grand Final winners of the 11th Lee Kuan Yew Global Business Plan Competition (LKYGBPC), organised by the Singapore Management University Institute of Innovation and Entrepreneurship (SMU IIE).

MEDEA Biopharma won the Lee Kuan Yew BETA Prize, while PlasticFri clinched the Lee Kuan Yew INFINITY Prize. The BETA category covers pre-revenue startups, while the INFINITY covers revenue-generating startups in the early- to Series A stages.

Both winners have received S$100,000 (US$73,000) in cash and S$75,000 (US$55,000) in-kind prizes each, and the opportunity to be mentored by some of the more notable venture capitalists (VCs) in the innovation and entrepreneurship space for expansion in the region.

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

MEDEA develops a new generation of sustainable and eco-friendly antibacterial solutions as alternatives to chemical and harmful antibiotics, copper and pesticides to combat harmful bacteria in humans, animals and plants. Founded by Rüdiger Trojok, Dr Elene Kakabadze, Giorgi Khubua and Alexander Skripnik, the firm entered the competition in the ‘Urban Solutions and Sustainability’ Category.

PlasticFri is a greentech company that turns agricultural waste into eco-friendly products, such as cups, straws, and packaging, to replace plastics. To date, the company claims to have sold more than 10 million products, saved more than 52,000 litres of water and eliminated 5,000 kg of plastic waste. Founded by Dr Allen Mohammadi and Max Mohammadi, the firm entered the competition in the ‘Urban Solutions and Sustainability’ Category.

Also Read: Protégé Ventures launches Fund II to support student-led startups in Singapore

Thirty-one other student startups were also declared winners across various categories.

A total of 53 university startups, including ten from Singapore, gathered at SMU to compete for S$2.5 million worth of prizes over the week. With the theme’ Innovations Beyond Boundaries – Reimagining a Smart, Sustainable & Resilient Future’ and focusing on five key areas: Urban Solutions and Sustainability; Manufacturing, Trade & Connectivity; Human Health & Potential; Smart Nation & Digital Economy; and Media & Entertainment, the biennial LKYGBPC saw over 1,000 entries from 1,100 universities from 77 countries, including Argentina, China, Germany, the US, Ukraine, Japan, and Indonesia.

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Image Credit: LKYGBPC

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Movers and shakers of the Philippine startup community, innovators and investors, and global and national leaders will gather for the sixth edition of the Geeks On A Beach (GOAB) international conference on November 22 to 24 at Panglao Island in Bohol, the Philippines.

At Geeks On A Beach, about 500 participants are expected to discuss trends and forecasts on tech, startup and design, with conversations and interactions aimed at enabling the best to ride the wave of technological advances.

Plenary sessions will explore potential investment opportunities, while breakout sessions will touch on fintech, edutech, healthtech, agritech, climate-tech and other category-specific themes catering to youth and women.

Also Read: Driving financial inclusion in the Philippines: Why last-mile communities are key to winning the battle

Geeks On A Beach will also have pitching opportunities, business coaching, matching, investors’ roundtable and exhibits from various stakeholders. A highlight of GOAB this year would be celebrating the impact of a new law, the Innovative Startup Act, and DICT’s programmes for the Philippine startup ecosystem.

The event is spearheaded by GeeksPH and co-organised by the Department of Information and Communications Technology (DICT).

“Ten years after the first GOAB and a pandemic-induced hiatus, there are certainly a lot of new and positive developments to celebrate from the advance of digitalisation, the rise of AI and more funding raised by Filipino startups,” said GOAB founding organiser Tina Amper of GeeksPH, which

Serving as Geeks On A Beach advisors are Manny Ayala of Hatchd and Endeavor PH, Plug and Play Tech Center’s Jojo Flores, Shoppable’s Chris Blanquera, Stephanie Caragos of Syntactics, Embiggen Group’s Paul Pajo, and Christina Laskowski of Silicon Valley-based Science and Technology Advisory Council.

Speakers include DICT Secretary Ivan John Uy, Chris McCann of Race Capital, Mohan Belani of e27, and Earl Valencia of Plentina.

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