In the ever-evolving landscape of startups, have you ever encountered a startup community exclusively designed for men? The chances are slim. Yet, the concept of startup communities tailored exclusively for women entrepreneurs might still appear unusual or unnecessary.

But let’s delve into this further.

Why do we have startup communities focused on empowering women entrepreneurs? The answer is simpler than it may seem: the entrepreneurial journey is not a uniform experience for all.

Gender biases, restricted access to finance and technology, and the prevailing male-dominated venture capital landscape combine to create unique challenges for women entrepreneurs. For this reason, the creation of nurturing environments is pivotal in helping women navigate these challenges.

But we want to be clear about one thing — communities for female entrepreneurs are never a question of their capabilities as founders.

Embarking on a business venture is a formidable task, laden with numerous highs and lows. However, for women entrepreneurs, this journey is particularly arduous. A plethora of systemic barriers, significantly greater than those encountered by their male counterparts, stand in their way. This intricate web of challenges originates from deeply entrenched factors that perpetuate gender disparity.

Beyond stereotypes: Challenging perceptions of women-led businesses

Women entrepreneurs frequently embark on business ventures with a lens focused on creating an impact or contributing to societal betterment.

A recent study from the Global Entrepreneurship Monitor showcased a rise in the Total Early-stage Entrepreneurial Activity (TEA) rate for women in the US, increasing from 13.6 per cent in 2020 to 15.2 per cent. Remarkably, 70.5 per cent of surveyed women stated their entrepreneurship was motivated by a desire to effect positive change.

Also Read: #She27: Celebrating 27 women shaping the future of tech

Despite this, some investors might erroneously view these businesses as profit-secondary, emphasising social impact over financial gains. This misguided perception perpetuates the notion that such enterprises are akin to charities or more suited to philanthropic ventures or financing. This is a mistake.

Breaking the mold: Disrupting the male-dominated venture capital landscape

Despite progress made towards gender diversity, the venture capital arena remains predominantly male-dominated. In the UK and Europe, for instance, approximately 67 per cent of investors lack women in influential investment decision-making roles.

This lack of diversity directly impacts the opportunities extended to women entrepreneurs, and again, we believe a misunderstanding in the nature of some businesses. Why is this? Traditionally, investors invest in what they know or a defined area of expertise.

Following this line of reasoning, when women embark on creating new businesses in domains that lie beyond these customary realms of specialisation, they often struggle to find investors who understand their mission, the opportunity presented and the potential market.

This makes these businesses seem more ‘risky’ to potential investors. This glaring inequity necessitates inclusive practices and a level playing field. In Southeast Asia, only 1.2 per cent of total venture funding in the region went to female-only founding startups.

Tailoring financial support: Recognising gaps

Based on the challenges outlined above, we also believe that addressing the news of female founders can’t be solved nor should be solved in venture funding alone.

Also Read: How this introvert started a community of women investors in SEA

Personalised loan terms, adaptable repayment options, and financial education materials tailored to their specific circumstances might be necessary along with more public sector support, grants and programs to sit beside continuing education and attempting to attract more women to venture funding.

Furthermore, financial institutions might lack the expertise needed to develop products and services aligned with the distinct challenges and prospects faced by women entrepreneurs. These challenges could encompass varying risk profiles, divergent business life cycles, and unique trajectories of growth.

By deeply understanding and addressing these multifaceted challenges, supportive communities play a pivotal role in nurturing the growth and success of women entrepreneurs and serving as an interface between the public sector, venture capital and financial services. This is precisely the role we embrace at Harriet.

Serving as a dynamic and purposeful hub, our connectivity platform functions as a central meeting point, bringing together a diverse array of inspirational female founders. Through Harriet, our mission resonates in facilitating meaningful connections, fostering collaborations that empower women entrepreneurs, and sharing valuable information enabling them not only to survive but to thrive within the competitive funding landscape.

In conclusion, the need for supportive communities catering to women entrepreneurs arises from the distinct challenges they face in the entrepreneurial journey. By challenging stereotypes, disrupting male-dominated spheres, and providing tailored financial support, we can foster an inclusive environment where women entrepreneurs can flourish.

It’s high time to recognise their invaluable contributions and create a thriving ecosystem that benefits everyone.

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Global cloud communications platform Infobip has commissioned the latest market research prepared by Leading IT market research and advisory firm IDC. The IDC InfoBrief titled ‘Revolutionising Customer Experience through the Power of Conversational Commerce’ highlights the rising role of AI-powered conversational commerce and omnichannel communication platforms in the Asia Pacific region.

The InfoBrief not only highlights the importance of customer-centric strategies but also provides a guide for brands to successfully adopt and leverage conversational commerce, ultimately maximising value for both businesses and customers.

Digital native customers are setting higher expectations and exercising greater control over how they engage with brands, becoming equal stakeholders in the Customer Experience (CX) ecosystem. This has resulted in brands moving away from traditional transaction-level experiences to relationship-based ones. Cloud-based solutions enable brands to provide the end-to-end customer journeys that customers desire in this digital age.

With the shift in customer communication preferences, there is a noticeable increase in conversational interactions. Recent statistics demonstrate that brands adopting an omnichannel approach and delivering an end-to-end experience have higher chances of enhancing loyalty and customer lifetime value.

Also Read: How e-commerce brands can tap into the US$600 billion social commerce market potential

Capitalising on the advancements in artificial intelligence, conversational commerce has gained significant traction among businesses in the Asia Pacific region, utilising Communication Platforms as a Service (CPaaS) as its core foundation. Studies have also shown that since the start of the pandemic, the APAC region has seen an addition of 60 million digital consumers who are here to stay.

Rising demand for conversational commerce

Conversational commerce relies on Communication Platform as a Service (CPaaS) as a crucial tool, empowering organisations to seamlessly integrate real-time communication features (such as voice, text, video, instant messaging, and social media) into their internal and external applications using developer-friendly API as building blocks.

Software as a Solution (SaaS) tools, such as smart chatbots powered by the cloud, are also on the rise as organisations recognise their inherent benefits in delivering personalised interactions and improved customer experiences.

For example, during the Singles’ Day in 2022, communication interactions in the Asia-Pacific region accumulated over 70 million within the Infobip platform. Total interactions within the platform increased 21 per cent compared to 2021 and surged 46 per cent compared to other days in November. WhatsApp interactions alone on Single’s Day grew 29 per cent in 2022 compared to 2021.

The power of CPaaS and SaaS-based solutions enables businesses to provide a seamless customer journey that’s visible across multiple touchpoints. This reflects a general pattern among businesses in Asia Pacific adopting a more conversational theme with their customers to gain benefits such as increased ROI and customer engagement.

Conversational commerce also empowers local businesses to branch out globally through automated messaging and cloud customer support. A study by Facebook and Boston Consulting found that Malaysians (26 per cent) are among the highest number of respondents who had undertaken a conversational commerce transaction.

Drivers of CPaaS investment across Asia Pacific

This upward momentum in customer-centric business strategy among brands across the Asia Pacific reflects their current mindset and expectations. Despite a few countries averaging 50 per cent – 59 per cent in CPaaS usage, the vast majority of organisations in the region (70 per cent) plan to increase communication platform spending over 2023-24 in order to provide unique, unparalleled customer experiences to the region’s growing social media users, who are mostly young, active, and aware of the power of their own influence.

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

Although all countries plan to invest in CPaaS and SaaS solutions in the near future, their motivations for doing so can greatly differ. Singapore and Indonesia businesses aim to bring about enhanced customer experiences and create new revenue streams, while those in China, Thailand, and the Philippines are more motivated to improve and mobilise their business processes, as well as look towards domestic and international business expansion.

This is likely due to the latter countries’ overall higher adoption rate of CpaaS solutions (above 60 per cent) and booming retail and e-commerce segments. In Malaysia, 56 per cent of organisations are already using CpaaS solutions and 73 per cent more are already planning to increase their communications platform spending throughout 2023 and 2024.

Organisations planning to embark on their conversational commerce journey will need a good, experienced partner, as not all solutions are equal. Platforms with omnichannel capabilities are ideal as they are essential for building meaningful, high-quality customer engagement. Easy integration capabilities are also necessary because these ensure better customer experience as well as compliance with security and audit policies.

Finally, CPaaS platform providers must be agile enough to respond to new use cases and tech that can help drive business growth. Infobip is ready to help elevate businesses through conversational commerce so that they are on par with the top businesses in Asia Pacific.

To learn more about the benefits of conversational commerce and how it has influenced industries across the Asia Pacific region, click here.

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Indonesian fintech lending platform Investree has secured EUR 220 million (US$231 million) in a Series D funding round led by JTA International Holding by establishing a joint venture (JV) with the Qatar-based firm.

The company’s Series B and C investor, SBI Holding, also participated in the round.

The JV, called JTA Investree Doha Consultancy, will serve as the Middle East hub for the lender to offer digital lending technology solutions, one of which is an AI-based credit scoring service.

The partnership will also allow both firms to bring innovative technology built in Indonesia to empower MSMEs in Qatar, the Middle East, and Central Asia.

Also Read: Investree completes acquisition of Amar Bank, increases stake to 18.4 per cent

Investree will use the new capital to expand its products and services and increase collaboration with various partners to provide more innovative digital solutions for MSME players.

The company last raised US$23.5 million in a Series C funding round in March 2020, led by MUFG Innovation Partners and BRI Ventures. Previously, the company received US$10 million in funding from the Swiss asset manager responsAbility Investments.

Founded in 2015 in Jakarta, Investree provides digital financial solutions to largely underbanked MSMEs who previously faced difficulties securing loans without collateral from traditional financial institutions. It provides four products: invoice financing, working capital term loan, buyer financing, and microproductive loan for ultra-micro entrepreneurs.

As of October 2023, Investree Indonesia claims to have recorded a total loan disbursement of US$916.30 million in productive loans.

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It’s something we’ve heard a million times before, but that doesn’t make it any less true; screens dominate our lives, and our attention spans have been dwindling in response — a point emphasised by a recent article in TIME magazine. 

Nowhere are the issues of attention spans and screen time more fervent than amongst our children and youth. Children tuning out on education is at an all-time high, especially when everything else around them evolves at a breakneck pace whilst our approach to education remains firmly rooted in the early 2000s.

Thus, the question of how to make education engaging and effective looms large. While digital transformation in education is underway, merely digitising traditional methods falls short of an actual solution.

That solution, however, might be found in a realm that transcends digitisation — the metaverse.

This unexplored terrain offers a unique approach to education, one that marries immersive experiences with experiential learning, promising to reshape how we educate the generations to come.

Imagine a realm where avatars, physical representations of yourself in the virtual metaverse, are the gateway to knowledge. Your avatar, your personal online presence, becomes the bridge, allowing students and educators to interact seamlessly.

A dynamic environment that adapts to lesson content enriches engagement and comprehension, surpassing the confines of traditional education. With the metaverse, the newest iteration of the internet, we may have just that.

A 3-D-enabled digital space that uses virtual reality, augmented reality, and other advanced internet and semiconductor technology to create lifelike personal and business experiences online, the metaverse is breaking down barriers between physical classrooms and virtual learning spaces.

In the metaverse, learning borrows a page from gaming, a strategy that resonates strongly with today’s digital natives. The likes of Roblox and Minecraft are popular examples which effectively illustrate the concept of gamification of learning.

Also Read: Navigating the evolving landscape of blockchain regulation in the metaverse era

By incorporating gaming elements, the metaverse transforms learning into a game-like experience, eliminating social barriers and nurturing active participation. A familiar environment breeds comfort, making education accessible and enjoyable.

Case study: Phoenix Asia Academy of Technology’s metaverse classroom

A groundbreaking example of metaverse integration is the inaugural metaverse classroom at Phoenix Asia Academy of Technology. Breaking free from traditional constraints as the first-ever metaverse classroom in Malaysia, this immersive space redefines education, with efficiency replacing time-bound limitations, while students enjoy an immersive and dynamic learning environment. The metaverse empowers students to voice their opinions without fear, creating a safe space for exploration and active engagement.

But the hitherto untapped potential of the metaverse means that there is more to explore.

• Diversity, equity, and inclusion amplified: Customisation within the metaverse empowers educators to tailor lessons to individual experiences, fostering a diverse and inclusive learning environment.
• Empowering modern learners: The metaverse’s digital familiarity bridges the gap between educators and digital natives, enhancing the educational experience.
• Immersion through mirror worlds: Integrating mirror worlds elevates experiential learning, enabling students to immerse themselves in real-world contexts fostering understanding and application to real-life situations.

A real-time example of this was witnessed at Taylor’s University’s event, The Show, an exhibition of clothing designs by the university’s Bachelor of Fashion Design Technology students held entirely in the metaverse. This groundbreaking initiative, in collaboration with Mitoworld, ushered students into a realm of participatory learning, redefining how knowledge is acquired and applied.

Using Mitoworld as the content creation tool, students of the Bachelor of Interactive Spatial Design course designed a virtual space for their classmates in the Fashion Design Technology course to display old and new designs and live stream their ongoing work.

Beyond giving them a chance to highlight their talents in all their glory, the students also added a special twist to the day — a unique catwalk feature enabling students to have (virtual) models strut their stuff on the metaverse.  

Through the seamless integration of the metaverse, students embarked on an immersive journey where they actively crafted their educational experience. By leveraging the metaverse’s capabilities, The Show transcended conventional boundaries, fostering engagement and innovation in unprecedented ways.

This success story underscores the metaverse’s potential to catalyse dynamic learning environments, enabling students to forge their own paths of discovery and learning.

Also Read: Breaking gender barriers in the metaverse: Women pioneering emerging tech

The metaverse’s uncharted potential beckons, promising a brighter horizon for education. Its integration fosters a generation of learners who are not only proficient in digital literacy but also adaptable to an ever-changing landscape. Educators, too, can rise above traditional pedagogies, embracing an immersive realm that nurtures interaction and engagement.

Countries like Japan, South Korea, and Taiwan have illuminated the path with satisfaction rates of 98.5 per cent, emphasising the metaverse’s success. However, its full potential hinges on collective effort within the educational ecosystem. Crucially — from a Malaysian perspective — this includes partnerships with institutions like the Ministry of Education (MOE), Ministry of Higher Education (MOHE), and Malaysia Digital Economy Corporation (MDEC).

These initiatives underscore the crucial role of partnerships between associations, government bodies, and educational stakeholders. Collaboration is key to realising the full potential of metaverse education. Associations and government agencies are joining forces to drive the metaverse initiative forward, recognising its power to revolutionise education in ways previously unimagined.

In conclusion, the metaverse isn’t just an innovation; it’s a revolution. Its fusion of digital fluency, experiential learning, and immersive environments has the potential to reshape education for the better.

The journey ahead requires the collective efforts of educators, institutions, and government bodies, working hand in hand to unlock the metaverse’s boundless educational possibilities. Together, we pave the way for a future where learning knows no bounds and potential knows no limits.

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Being a successful leader can make all the difference between triumph and failure. But what if you could enhance your leadership skills by using insights from neuroscience?

This article combines practical aspects of startup leadership with neuroscience-backed tips to provide you with an all-inclusive guide. Let’s dive into the ten habits that can transform you into a highly effective and inspiring startup founder.

Habit one: Setting clear goals and priorities

When goals are well-defined, the brain releases dopamine, which thrives on clarity and structure. In a startup, time is a precious commodity, and it is crucial to set clear, actionable goals and break them down into manageable tasks. Prioritising these tasks allows everyone to be aligned with the startup’s mission and tap into the brain’s natural reward system.

Habit two: Effective communication

Mirror neurons play a crucial role in our ability to understand the actions and emotions of those around us. In a startup setting, communication is key to success. From investor meetings to product updates, keeping your team informed is crucial. By maintaining an open dialogue, you can activate mirror neurons and encourage a culture of empathy and trust.

Habit three: Building strong relationships

Did you know that oxytocin, also known as the “bonding hormone,” has the ability to strengthen social bonds? As a leader, you’re not just a boss but also a valuable team player. It’s crucial to invest time in getting to know your team members beyond their job descriptions. This allows for the release of oxytocin, which in turn creates a supportive work environment that is essential for the success of any startup.

Habit four: Continuous learning and self-improvement

It is imperative to commit to continuous learning to stay ahead of industry trends and remain competitive. Neuroplasticity, the brain’s ability to reorganise itself by forming new neural connections, plays a significant role in lifelong learning. By leveraging neuroplasticity, you and your team can enhance your adaptability, acquire new skills, and improve problem-solving abilities. Therefore, it’s essential to create a culture of continuous learning to achieve success in the long run.

Habit five: Taking calculated risks

The prefrontal cortex assists in evaluating risks. Startups are inherently risky, but calculated risks can lead to high rewards. It’s important to evaluate potential outcomes and consult your team to engage the prefrontal cortex, which results in better decision-making.

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

Habit six: Empowering and delegating

Empowerment is a powerful tool that can stimulate the reward pathways of the brain. As a founder, it can be tempting to oversee every detail of your business, but micromanaging can be counterproductive. Instead, it’s better to delegate tasks to team members based on their strengths.

This not only frees up your time to make strategic decisions, but it also motivates your team and activates their brain’s reward system. By empowering your team and allowing them to take ownership of their work, you create a positive and productive work environment that benefits everyone involved.

Habit seven: Leading by example

Observational learning activates the mirror neuron system. As a startup founder, your actions set the tone for your team. If you burn the midnight oil, your team is more likely to follow suit. Leading by example taps into the brain’s mirror neurons, making positive behaviours easier to emulate.

Habit eight: Adaptability and flexibility

Cognitive flexibility is the ability that allows people to switch between different tasks, concepts, and perspectives with ease. This neurological strength is crucial for adaptability, problem-solving, and decision-making.

In the dynamic and unpredictable world of startups, being adaptable and flexible in your leadership style and business strategy can be a valuable asset that enables you to navigate through unexpected challenges and opportunities.

Habit nine: Resilience and perseverance

The ability to be resilient is crucial. It allows you to manage stress and overcome setbacks that are inevitable in such a dynamic environment. Furthermore, being resilient helps regulate stress hormones in the brain, which can positively impact your overall well-being.

By demonstrating resilience, startup leaders set a powerful example for their team members and create a culture of perseverance and determination.

Habit ten: Emotional intelligence

The amygdala, a part of the brain, plays a significant role in regulating emotions. When managing a startup, stress is inevitable. However, having emotional intelligence can help you maintain a level head and make rational decisions. Additionally, emotional intelligence enables you to understand your team’s emotional state, which is crucial for creating a healthy work environment.

In conclusion

As a startup founder, you experience both excitement and challenges. However, by incorporating neuroscience-backed habits into your leadership style, you can effectively navigate the complexities of startup life. This not only helps you build a prosperous business but also enables you to assemble a team that is neurologically wired for success.

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