Amidst the growing threat of cyber attacks, businesses find themselves at a critical juncture: deciding whether to pay ransoms to hackers or take a stand against cyber extortion. This pivotal decision aligns with global efforts led by the UK, Singapore, and the US-led alliance.

In the discussion, we’ll delve into ten compelling reasons why abstaining from ransom payments not only supports these global initiatives but is also paramount in the ongoing battle against cybercrime.

Ransomware attacks pose a significant peril to businesses, effectively barring access to their systems and, in severe instances, leading to permanent closures. Confronted with these risks, businesses often contemplate the option of paying hackers to recover their data.

However, as we’ll elaborate in this post, the general consensus is a resounding no. Unless there is no alternative for survival, businesses should refrain from paying ransoms.

Here are 10 reasons why your company should not pay ransom to hackers:

Global initiatives against ransom payments

• International consensus by the Counter Ransomware Initiative (CRI): Members of the CRI, including influential nations like the UK and Singapore, have collectively pledged not to use central government funds for ransom payments. This joint statement signifies a global consensus against financially supporting cybercriminals through ransom payments.
• US-led international counter ransomware initiative: The US-led alliance involving forty countries plans to sign a pledge, committing to never pay ransoms to cybercriminals. This initiative aims not only to discourage ransom payments but also to collaboratively work towards dismantling the funding mechanisms that sustain hackers globally.

No guarantee of data integrity

Many ransomware victims often operate under the assumption that paying the demanded ransom will ensure the restoration of access to their data and systems, a process that proves successful in many instances.

Also Read: Two decades of digital defence: Why cybersecurity must remain a top concern for everyone

However, a significant number of cases reveal a harsh reality: organisations, despite paying the ransom, find that the decryption key provided is either ineffective or the retrieved data remains unusable. 

Despite the backing of international initiatives, ransom payments provide no assured path to data recovery, intensifying the apprehension surrounding the possibility of irreparable data loss.

Financial fuel for criminal enterprises

Paying ransom may get your data back, but that money funds more cybercrime. Attackers use it to create advanced ransomware, leading to more cyber threats. Global efforts stress that paying unintentionally supports criminal growth and worsens the overall cyber threat situation.

Maintaining ethical integrity

Aligning with global anti-ransom efforts helps companies maintain their ethical reputation and avoid compromising with criminals, preserving trust and reputation. It’s a principled stance that safeguards a company’s standing in the eyes of its stakeholders.

Legal and regulatory consequences

The global stance against ransom payments reinforces the legal and regulatory consequences companies may face, regardless of their geographical location, emphasising the need for adherence to international laws.

Perpetuating the ransomware industry

Ransomware payments can fuel innovation in the malware industry as threat actors persist with basic ransomware tools. A noteworthy trend has emerged, with some adopting highly sophisticated malware, exemplified by the BlackCat gang’s recent advanced ransomware tool. This evolution underscores the interconnected nature of global cyber threats and reinforces the urgency for unified international efforts against ransom payments.

Increased likelihood of repeat attacks

Many organisations, lacking data backups for recovery or seeking to avoid operational disruptions, often succumb to ransom demands. However, security experts caution against this practice, emphasising that paying attackers not only fails to deter further attacks but also heightens the risk of becoming a repeat target. Threat actors perceive a company that has paid once as more likely to pay again in subsequent attacks, as highlighted by both the CRI and the US-led alliance.

Also Read: The business edge: Why prioritising employee cybersecurity is a smart investment

Neglect of cybersecurity improvement

Amid the worldwide effort to discourage ransom payments, it becomes evident that emphasising cybersecurity improvement, rather than depending on short-term reactive measures, is crucial for long-term resilience against evolving cyber threats. This strategic focus aligns with the global commitment to break the cycle of ransom payments and fortify collective defences in the digital realm.

Undermining collaborative efforts

Aligning with international initiatives encourages companies to actively participate in collaborative efforts, share threat intelligence, and report incidents to law enforcement for a united front against cybercrime.

Strategic focus on long-term resilience

By adhering to international pledges against ransom payments, companies reinforce the strategic imperative to prioritise long-term resilience over short-term concessions, contributing to a more secure digital landscape globally.

Conclusion

In conclusion, the synergy between these global initiatives and the existing reasons underscores the urgent need for a unified, principled stance against paying ransoms, emphasising the shared responsibility in safeguarding the digital realm from cyber threats.

The collaboration of nations against ransom payments reflects a global commitment to breaking the cycle of cybercrime and promoting a secure digital landscape for all.

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The concept of stock trading has grown leaps and bounds over the last few decades. Let’s take a trip back to the 17th century. At this point, the idea of ‘trading’ merely existed between merchants and although we saw the birth of stock exchanges which formalised processes, it wasn’t until the 20th century that tech-led trading was implemented.

Fast forward to today, the rise of fintechs and neo-brokers has democratised investing by making it more accessible and affordable for retail investors of all ages and demographics.

This evolution has resulted in rapid innovation to bring more people greater access to a wider range of investment options and has empowered individuals to take control of their financial futures. 

From merchants to tech-led trading

Until recently, investing was often seen as the domain of the wealthy or well-connected. Many alternative asset classes, such as private equity or venture capital, were only available to institutional investors or high-net-worth individuals.

This left many retail investors without access to these potentially lucrative opportunities, limiting their investment options and the potential for portfolio diversification.

Fintechs and neo-brokers have changed the game. By leveraging technology and modernising the investment landscape, they have made investing more accessible and user-friendly than ever before.

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At the click of a button, fintechs and neo-brokers are helping retail investors reach the top shelf by enabling them access to a range of asset classes, including those that were previously out of reach.

The changing landscape of younger customers is another key factor driving the accessibility of investing. A FINRA study for a sample of US investors in 2020 revealed that almost two-thirds of new investors were under 45.

Democratising investing for all ages

With the rise of Millennials and Gen Z, the investment industry is facing a new generation of customers who have grown up in a digital world. These customers are more tech-savvy than their predecessors and are more likely to use digital tools to manage their finances. 

One of the key benefits of these new investment platforms is that they have made investing more affordable. Many traditional investment options, such as managed funds or financial advisors, tend to come with high fees that eat into investors’ returns.

Fintechs and neo-brokers have disrupted this model by offering low-cost and sometimes even commission-free investing options. This makes investing accessible to a wider audience and puts retail investors in control of their investment strategy.

Of course, it’s important to note that investing always comes with risks. However, by providing access to a diverse range of assets, fintechs and neo-brokers are giving retail investors the opportunity to make informed decisions about their investments and build well-diversified portfolios. With the right tools and resources, investing can be a powerful tool for achieving financial goals and building long-term wealth.

Also Read: 

Over time, self-direct trading has gained prevalence over-relying on a financial professional. Online trading, followed by mobile apps, is the most common method for placing trades, according to a study by the National Financial Capability Study (NFCS) in the US.

Younger and newer investors are much more likely to use a mobile app for placing trades than older respondents or more experienced investors.

When making investment decisions, investors most often rely on research and tools provided by brokerage firms, business and finance articles, financial professionals, and friends, family, or colleagues.

Among younger investors, a majority (60 percent) use social media as a source of investment information, compared to 35 percent of those ages 35 to 54, and only 8 percent of those 55 and older.

To meet the changing demands of customers, a range of tools and services have emerged in the market that are easier to use and lower in cost.

These platforms allow customers to invest in a range of products, including stocks, precious metals, exchange-traded funds (ETFs), and cryptocurrencies.

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Many of these platforms are reducing barriers to entry by offering features such as fractional investing, which allows customers to buy a part of the whole shares at amounts as low as US$1. Fractional investing is an example of how Fintechs are making investing more accessible to a wider range of people.

Role of fintech innovations

In the past, buying a single share of stock could be prohibitively expensive for some investors and a basket of five regularly could easily run into a few thousand each month.

However, fractional investments allow them to diversify to a basket of five stocks at US$1 a piece, costing less than your daily coffee, making investing more accessible to a wider range of customers, including those who may not have considered investing in the past.

In addition to fractional investing and transparent fees, Fintechs are able to level up by offering users access to research tools and educational resources to support enhancing their financial literacy.

Similarly, many users are seen moving towards using ETFs to get access to sectors and themes where stock picking is not that straightforward. This has given a tremendous rise to the global Assets under management for ETFs from US$5 Trillion in 2018 to US$10 Trillion in 2022. Players who offer ETFs on a fractional basis are further reducing the barriers to access.

Also Read: 

Overall, the increasing accessibility of investing is a positive development that is empowering retail investors to take control of their finances and build long-term wealth. Fintechs and neo-brokers are leading the charge in this shift, providing easy-to-use digital tools, transparent fees, and educational resources.

With the rise of a younger, tech-savvy generation, it is likely that this trend towards accessibility will only continue to grow as demand increases. As more people realise the benefits of investing, and more platforms emerge to cater to their needs, the investing landscape will continue to evolve, making it easier for anyone to participate in the financial markets. 

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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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Globally, human resource (HR) management technology continues to transform and streamline the complete employee life cycle, encompassing recruitment, background screening, and employee management. As per the 2022-2023 HR Systems Survey by Sapient Insights, 54 per cent of businesses with over 500 employees are set to increase their HR tech spending, allocating an average increase of 21 per cent.

Hacking Talents is a digital matching platform that aims to empower organisations with a more agile and competitive workforce. Founded in 2021 by Federica Pasini and Teresa Baldini, the startup offers a tool for implementing impactful engagement activities to promote a fulfilling work experience for employees.

“My extensive seven years of corporate experience, including diverse roles within HR, illuminated the challenges HR departments face in implementing effective people strategies and engagement initiatives. Recognising the widespread dissatisfaction with work, as highlighted by the alarming 85 per cent disapproval rate in Gallup research, I was inspired to address this issue at its core,” said Pasini.

Hacking Talents’s distinct offerings

At the core of the company’s strategy is its digital platform, a tool for personalised professional development. It strategically matches employees with professional coaches, communication experts, or mentors, expediting individual growth trajectories and sharing insights with the organisation.

The platform uses algorithms to assess professional skills, communication styles, and career goals, facilitating personalised and effective development journeys. Incorporating adaptive learning technologies and data analytics refines content and recommendations, optimising the impact of training programs.

Also Read: Team performance unlocked: Harnessing chronotypes for startup synergy

In addition, through targeted coaching and mentorship, the initiative strives to instil emotional intelligence in employees, fostering stronger interpersonal connections and cultivating a workplace environment conducive to collaboration and success.

Unlike other platforms, it pairs employees with expert coaches and mentors while integrating generative AI for HR insights. This dual approach offers a holistic solution addressing personal growth and organisational goals.

“The rise of personalised professional development aligns with our commitment to individualised coaching and mentoring. Capitalising on this trend, we aim to refine matching algorithms for enhanced personalisation. The increasing demand for data-driven HR decisions offers an opportunity for service expansion. We also plan to integrate generative AI for HR, leveraging advanced analytics to enable more informed decision-making in people strategy,” expressed Pasini.

Hacking Talents’s current monetisation strategy centres on a tiered subscription model, offering organisations access to their professional development platform.

The company’s evolved strategy includes a premium tier that provides access to an HR dashboard, which allows HR professionals to define and track key performance indicators (KPIs) related to employee development and engagement.

Navigating challenges in shifting HR dynamics

Establishing Hacking Talents presented challenges, particularly navigating the evolving HR landscape and addressing the market need. Initially, there was resistance to perceiving HR beyond its traditional administrative function.

Also Read: Why HR tech will make Asia’s next unicorns

“To overcome this, we undertook extensive market research and engaged with HR professionals to demonstrate the increasing strategic importance of HR in fostering employee development and organisational success.

“Aligning our platform with the evolving needs of HR meant continuous adaptation. We invested in staying ahead of market trends, ensuring that Hacking Talents addressed the current demands for personalised professional development and anticipated future shifts in HR towards a more strategic role,” added Pasini.

Funding milestones, revenue growth, and future ventures

In September 2023, Hacking Talents raised US$290,000 from Italian VC firm LVenture Group and angel investors. This initial capital played a crucial role in developing the minimum viable product (MVP) and validating the value proposition in the market.

“The fruitful outcome of our efforts is reflected in exceeding US$120k in revenues by the end of this year, boasting a clientele of 10 customers, three of whom have committed to recurring contracts. Looking ahead, we are gearing up for our next phase of growth and innovation,” said Pasini.

Hacking Talents also participated in the Global Startup Programme organised by the Italian Trade Agency (ITA) and the Ministry of Foreign Affairs and International Cooperation.

In 2024, the company aims to raise US$1.5 million to scale its product and anticipates engaging in significant projects, partnerships, and developments in the near future.

Hacking Talents is currently in discussions with key market players, such as headhunters, consultancy firms and HR tech companies, to establish strategic partnerships to enhance the platform’s capabilities and bring valuable expertise into the ecosystem.

The role of Hacking Talents extends beyond traditional training by addressing the crucial aspect of emotional intelligence. The company envisions being closely linked with continuous learning, fostering a sense of professional investment among employees and promoting increased engagement through meaningful workplace relationships.

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Image credit: Hacking Talents

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Singapore-based seed stage-focused VC firm FEBE Ventures has announced the launch of its second fund worth US$75 million.

Otium Capital, an international family office, is the anchor investor. The names of the other Limited Partners have not been disclosed.

Also Read: ‘Airbnb for surgeries’ HDmall gets FEBE Ventures backing to deepen market presence in SEA

The company said in a statement that 90 per cent of Fund II is already committed.

In addition, FEBE also announced a partnership with Tekton Ventures, a Silicon Valley-rooted global seed fund co-founded by Jai Choi and Vincent Worms. Tekton and FEBE will support globally-minded entrepreneurs leveraging technology for global progress, particularly in emerging economies.

FEBE Ventures (an acronym for “For Entrepreneurs, By Entrepreneurs”) was founded in 2019 by Olivier Raussin (a serial entrepreneur and seasoned tech executive at Google and Microsoft), Eric Merlin, and Jean-Marc Merlin.

Nicolas El Baze, a serial entrepreneur and a long-time General Partner at Partech in San
Francisco, and Aditya Pendyala, a tech entrepreneur, have joined the FEB team.

The VC firm focuses on B2B software, B2B marketplaces, health, and sustainability. Fund I, with a corpus of US$30 million, invested in 35 startups globally, including HDMall, Locad, Zenyum, Tindle, Silverbird, and Manatal. Its average cheque size is about US$250,000 for pre-seed startups and US$750,000 for seed-stage firms.

Also Read: Locad rakes in US$11M to build supply chain network across APAC

FEBE Ventures has team members across Southeast Asia, North America, Latin America, and Europe.

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Join the 2024 TOP100 program here!

This 2024, the highly anticipated TOP100 program is coming back bigger than ever. The annual event is known for being a game-changer for cutting-edge startups across Southeast Asia, providing startups benefits far beyond mere recognition.

The 2024 TOP100 program promises participants a treasure trove of perks — from invaluable mentorship opportunities and involvement in business matching to the potential to secure vital investments. Tailored specifically for startups, this program serves as a catalyst for those whose mission is to broaden their business horizons and pursue sustainable growth.

Having been incepted in 2012, the TOP100 program has firmly established itself as a cornerstone in the growth journeys of countless startups in the Southeast Asian tech startup ecosystem. Initially crafted to spot promising startups and facilitate funding, TOP100 has undergone a transformative evolution of becoming a comprehensive ecosystem enabler, fostering innovation, entrepreneurship, and collaboration among industry leaders, investors, emerging startups, and other relevant stakeholders.

Adapting to the dynamic entrepreneurial landscape, TOP100 has expanded its scope, embracing various facets of startup development through a holistic strategy encompassing initiatives like mentorship programs, educational pursuits, and networking events. Together, these diverse components contribute to the well-rounded development of startups, furnishing them not only with essential financial backing but also with vital knowledge, guidance, and connections crucial for sustained growth.

A bigger and bolder TOP100 this 2024

Over the years, the TOP100 program has been a breeding ground for startup success, having showcased some of the most notable unicorns and other exciting startups throughout the history of the program. As the Southeast Asian ecosystem shifts into a new era of growth ushering in a wave of new startups, the TOP100 program has adjusted to meet their changing requirements.

In 2024, TOP100 is transforming, becoming a growth-focused program meticulously designed to provide startups with a crucial platform for sustainable expansion across the region. Beyond the conventional role of connecting startups with online and onsite investors, e27’s commitment to supporting startups has grown tremendously.

Also read: Achieve your fundraising goals through the 2024 TOP100 program

Recognising the diverse needs of emerging companies, the team behind the project has broadened the TOP100 program, introducing a comprehensive range of services dedicated to fostering holistic growth. This all-encompassing approach includes coaching-based mentorship, participation in exclusive events, and media training. Furthermore, the program amplifies business matching through various initiatives and partnerships, optimising visibility within the tech startup ecosystem.

At e27, we believe bridging the knowledge gap is one of the most important components of startup growth. This is why the TOP100 program is dedicated to helping provide startups with access to some of the sharpest insights from industry experts.

Actionable insights: A key ingredient in startup growth

Startups striving for expansion need more than just raw data; they require nuanced, actionable information that translates into strategic decision-making. These insights provide a roadmap for navigating market trends, understanding consumer behaviour, and identifying potential obstacles. Bridging the knowledge gap by tapping into practical, implementable steps empowers startups to make informed choices, minimise risks, and seize opportunities. It’s not just about knowing the right things, it’s about being able to engage with and harness that knowledge that ultimately propels startups forward in their journey of growth.

The knowledge gap is a critical challenge that startups must overcome on the path to expansion. Addressing the knowledge gap in the pursuit of expansion is a critical hurdle for startups, and one effective solution lies in leveraging the valuable insights shared by industry leaders and experts. Often, burgeoning businesses find themselves inundated with a surplus of information, making it challenging to distil meaningful ideas. However, by seeking the perspectives and wisdom of seasoned professionals, startups can bridge this gap more effectively.

Also read: Taiwan tech companies eye regional expansion in Southeast Asia

Industry leaders serve as mentors, providing crucial ideas and perspectives that go beyond mere data. Their experience allows startups to discern meaningful insights tailored to their specific goals and challenges. By tapping into these important ideas, startups not only gain relevant knowledge but also benefit from a nuanced understanding of how to apply this knowledge strategically. This mentorship-driven approach becomes a cornerstone for startups, enabling them to make informed decisions, align actions with strategic objectives, and thrive in competitive markets. The insights shared by industry leaders play a pivotal role in shaping and steering startups toward a trajectory of sustainable growth.

As such, the 2024 TOP100 program is committed to empowering startups by providing them with access to invaluable insights, ideas, perspectives, and strategies. The program serves as a gateway to a wealth of knowledge, connecting startups with industry leaders and experts who will be sharing their unique ideas and perspectives.

TOP100: Empowering startups with industry insights

With all these in mind, the TOP100 program places a strong emphasis on fostering a vibrant exchange of ideas among participating startups. Beyond merely providing access to industry-specific insights, market trends, and valuable data, TOP100 actively cultivates an environment where startups can engage in meaningful conversations with industry leaders and experts.

Putting a premium on the exchange of ideas catalyses innovation and strategic thinking. By connecting startups with seasoned professionals, the program becomes a conduit for the sharing of experiences, perspectives, and innovative strategies. This collaborative approach ensures that startups not only receive essential information but also benefit from diverse insights that can spark creative solutions, ultimately equipping them to adapt, evolve, and thrive in today’s dynamic business landscape.

Also read: Bridging Japan and Southeast Asia’s tech landscapes through the ME Innovation Fund

The TOP100 program, therefore, stands out not only for providing privileged access to strategic information but also for nurturing a community where the exchange of ideas becomes a driving force for growth and success.

Join the 2024 TOP100 program

Applications for the 2024 TOP100 program are ongoing from November 1st to December 1st, 2023. Do you think you have what it takes to be a part of history? Send in your applications today!

For more information on the 2024 TOP100 program, visit our official site today.

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Blockchain technology is being rapidly used by a variety of sectors, including the education sector. Because of blockchain’s decentralised and secure character, it has become an appropriate solution for tackling issues that arise in the field of education.

It is anticipated that by the year 2024, blockchain technology will influence the education sector in a variety of ways, including the following:

Credentials that are both secure and able to be verified

One of the most significant benefits that blockchain technology has brought to the field of education is the ability to generate digital credentials that are both secure and verifiable. This technology has the potential to assist in putting an end to the widespread problem of fraudulent certificates and degrees.

Utilising the services of a company that specialises in the production of educational apps enables educational institutions to generate digital certificates that are both tamper-proof and simple to validate. It makes it easier and quicker for potential employers to verify the qualifications of prospective employees.

Records of accomplishments that are not hidden

The technology behind blockchain can also be used to help create transparent records of accomplishments. It is possible to accomplish this by developing a decentralised database of academic accomplishments that is open to access by all relevant parties, including students, professors, employers, and educational institutions. It has the potential to increase the accountability and transparency of the educational system.

Enrollment process that is both streamlined and automated

The process of enrolling students can be helped to become more streamlined and automated with the use of blockchain technology. Verifying the identities of students and their academic credentials can be accomplished in educational institutions through the use of platforms based on blockchain technology.

Also Read: Why I think piling on formal education and credentials will not solve the skills gap

This can help educational institutions minimise the amount of administrative work required and eliminate errors. Additionally, it has the potential to assist in the reduction of expenditures and the improvement of overall efficiency within the educational system.

Storage of information that is both secure and decentralised

Data may be stored in a way that is both secure and decentralised by utilising blockchain technology, which can be used by educational institutions. By storing data on a decentralised network, schools can lower the danger of data breaches and increase the security of data pertaining to both students and the institution itself.

In addition to this, it has the potential to assist in increasing data privacy and security, two issues that are becoming increasingly important in the education sector.

Financing and decentralised operations

It is possible for blockchain technology to assist in the creation of decentralised funding and financial aid platforms that are available to students all over the world. Smart contracts may be used on these platforms to automate the distribution of funds and ensure that they are used appropriately.

Blockchain technology may also assist in the reduction of fraud and the increase of transparency that is associated with the distribution of financial aid.

Conclusion

To summarise, by the year 2024, the application of blockchain technology is anticipated to have a substantial influence on the education sector.

The education sector is now confronted with a number of issues, many of which might be alleviated with the use of blockchain technology. These challenges range from the provision of credentials that are both secure and verifiable to the establishment of decentralised funding and financial aid systems.

By making use of the decentralised and secure characteristics of blockchain technology, educational institutions have the potential to increase their efficacy while simultaneously lowering their costs and fostering greater accountability and transparency throughout the education system.

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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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Join the 2024 TOP100 program here!

The highly anticipated return of the TOP100 program in 2024 is poised to play a pivotal role in empowering some of the most innovative startups from across Southeast Asia. Beyond the allure of recognition and accolades, participants stand to benefit from mentorship opportunities, engagement in business matching, and the potential to secure crucial investments. Specifically tailored for startups in the growth stage, this program serves as a valuable catalyst for those aiming to expand their business horizons. The program’s impact is poised to resonate throughout the entrepreneurial landscape, contributing to the growth and dynamism of the Southeast Asian startup ecosystem.

The TOP100 program created more than a decade ago, has solidified its place as a cornerstone in the growth journeys of myriad startups in the Southeast Asian tech ecosystem. Originally designed to pinpoint promising startups and facilitate funding, TOP100 has undergone a transformative evolution. Graduating from its initial focus on investment, the program has matured into a comprehensive ecosystem catalyst, nurturing innovation, entrepreneurship, and collaboration among industry leaders, investors, and emerging startups. Adapting with agility to the dynamic entrepreneurial landscape, TOP100 has broadened its horizons, now encompassing various dimensions of startup development.

Moving beyond its core function of identifying and supporting promising startups, TOP100 now adopts a multifaceted approach to propel startup growth. This comprehensive strategy includes initiatives such as mentorship programs, educational endeavours, and networking events. Collectively, these diverse components contribute to the well-rounded development of startups, providing them not only with essential financial backing but also with crucial knowledge, guidance, and connections necessary for sustained growth.

What sets the 2024 TOP100 program apart

Throughout its history, the TOP100 program has served as a hotbed for startup success stories, featuring prominent unicorns and other thriving startups that found support with the help of the program. With the Southeast Asian ecosystem entering a new phase of maturity and welcoming a surge of fresh startups, the TOP100 program has adapted to address their evolving needs.

Also read: Taiwan tech companies eye regional expansion in Southeast Asia

The year 2024 marks the evolution of TOP100 into a growth-oriented program, specifically crafted to furnish startups with a vital platform for sustainable expansion across the region. Going beyond the facilitation of connections with investors in both online and onsite realms, e27’s dedication to supporting startups has significantly intensified. Acknowledging the diverse needs of emerging businesses, the project’s team has expanded the TOP100 program, introducing a comprehensive suite of services aimed at nurturing holistic growth. This encompassing approach includes mentorship through coaching, participation in exclusive events, and media training. Additionally, the program enhances business matching through various initiatives and partnerships, optimising visibility throughout the tech startup ecosystem.

Why startups need fundraising mechanisms more than ever

In the nascent stages, startups often grapple with limited resources, making external funding a vital catalyst for turning innovative ideas into viable businesses. Funds acquired through various channels, including venture capital, angel investors, or crowdfunding, provide startups with the necessary capital to develop and refine their products or services, hire skilled talent, and execute strategic marketing initiatives. This financial injection not only accelerates the pace of product development but also enables startups to scale their operations, gain a competitive edge, and navigate the challenges inherent in the early phases of business development.

Beyond immediate financial support, fundraising offers startups access to a network of experienced investors who bring more than just capital to the table. Seasoned investors often provide valuable mentorship, guidance, and industry connections, enhancing the startup’s chances of success. Moreover, fundraising can act as a validation of a startup’s potential, building credibility and trust among customers, partners, and stakeholders. In essence, effective fundraising is not merely a means of securing capital; it is a strategic cornerstone that propels startups toward sustainable growth and long-term success in the highly dynamic and competitive business landscape.

Also read: How the 2024 TOP100 program aims to spotlight startups

However, fundraising isn’t an easy task. Startups with limited access to exposure and networking opportunities grapple with challenges in fundraising especially because of their inability to connect with the right organisations. One of the major hurdles is the fierce competition for attention and resources within the startup ecosystem. With a multitude of startups vying for investment, it becomes challenging for emerging businesses to stand out and capture the interest of potential investors. The lack of exposure amplifies the difficulty in attracting funding, as investors may overlook promising startups due to the sheer volume of options available. This visibility gap is particularly pronounced for startups operating in niche or specialised industries, where mainstream attention may be harder to secure.

Networking challenges also compound the difficulties faced by startups in fundraising endeavours. Building meaningful connections with potential investors, industry leaders, and mentors is essential for gaining insights, mentorship, and ultimately securing financial support. However, startups, especially those in their early stages, often struggle with limited networks. The absence of established connections can hinder their ability to access valuable advice, introductions to investors, and partnerships that are instrumental in the fundraising process. Overcoming these challenges requires innovative approaches to marketing, strategic outreach, and participation in industry events to enhance visibility and broaden the network, thereby increasing the chances of attracting the necessary funding.

TOP100 as a game changer for startups seeking investment opportunities

Fundraising, an enduring challenge for startups, finds a strategic solution in the meticulously crafted approach of the TOP100 program. The program’s ability to help startups achieve their fundraising goals lies in the comprehensive network it offers to qualified participants. Startups selected for TOP100 gain access to a diverse and influential ecosystem, where potential investors, venture capitalists, and various funding opportunities converge. This network proves instrumental in bridging the gap between startups hungry for capital and investors seeking promising opportunities.

Also read: Set sail with intellectual property: Your business’s journey to success

Within the TOP100 program, the fundraising journey for startups is streamlined through strategic connections and targeted exposure. The program acts as a facilitator, providing a structured platform for startups to present their innovative ideas to a curated audience of potential investors. This exposure not only increases the visibility of startups but also positions them in the spotlight for funding opportunities. By offering a seamless matchmaking process, TOP100 serves as a catalyst for startups seeking the necessary capital to propel their growth and innovation initiatives. The program’s focus on creating an environment conducive to fundraising success sets it apart as a valuable resource for startups navigating the challenging landscape of securing financial support.

Moreover, TOP100 goes beyond mere introductions by fostering an environment of mentorship and guidance. The program recognizes that fundraising is not just about securing capital but also about building sustainable relationships. Through mentorship programs and networking events, startups gain not only financial support but also strategic insights and industry connections that are vital for long-term success. In this way, TOP100 provides a holistic approach to fundraising, equipping startups with the tools, resources, and connections needed to thrive in the competitive startup landscape.

Join the 2024 TOP100 program

Applications for the 2024 TOP100 program are ongoing from November 1st to December 1st, 2023. Do you think you have what it takes to be a part of history? Send in your applications today!

For more information on the 2024 TOP100 program, visit our official site today.

The post Achieve your fundraising goals through the 2024 TOP100 program appeared first on e27.

Vietnam-based fashion supply chain platform Inflow has secured US$2 million in a seed funding round from AppWorks, 500 Global, January Capital, Spiral Ventures, and Saison Capital.

Inflow will invest the capital in designing R&D and developing new technologies for supply chain and manufacturing.

Headquartered in Ho Chi Minh City, Inflow is a tech-driven sourcing and manufacturing platform. It provides fashion brands of all sizes with tools and technologies to simplify the sourcing and manufacturing process and speed up time to market.

Also Read: How blockchain can enhance sustainability in fashion

Inflow taps into the garment production advantages of Vietnam and Southeast Asia while solving critical supply chain challenges in the fashion industry, such as opaque supplier networks and inefficient project management of the design-to-production cycle.

According to the company, the platform offers full visibility into the supply chain, from inventory forecasts to data-driven factory matching to merchandise management, all accessible through a user-friendly dashboard with real-time tracking. Its production network includes over 150 pre-vetted and ethical manufacturers and suppliers in Vietnam.  

Inflow’s platform and factory matching help reduce sample production to a rapid 7-day process with a 45-day turnaround for a wide range of fabrics and designs. The solution also supports flexible small-batch orders with low minimum order quantities (MOQs) starting from 50 units, allowing brands to scale production based on market response, reduce design-to-production cycles from months to weeks, and prevent wastage that comes with large MOQs. 

The company plans to use a portion of the capital raised to enhance its product offerings to help brands rapidly bring new designs to market within 30 days at minimum order quantities of 50 pieces.

Last year, Inflow claims to have grown its revenue over 15 times. Today, it has over 80 fashion brand partners across Southeast Asia.

Also Read: How Retykle is weaving sustainability into the fabric of children’s fashion

Khanh Le, Founder and CEO of Inflow, said: “Imagine a world where the runway’s latest trends can move to retail racks in a fraction of the time, where fashion brands can pivot as fast as the world changes. That’s the future Inflow is creating. Our platform is more than a supply chain solution; it’s a fashion revolution leveraging Vietnam’s central position in the global supply chain, democratizing access to quality manufacturing and ethical production.”

Vietnam’s garment exports year to date hit US$27.7 billion in 2023 with over 6,000 registered factories nationwide. As one of the world’s three biggest exporters of clothing and apparel, global brands are investing in the country’s booming manufacturing sector, which is supported by Vietnam’s free trade agreements with the US, the European Union, and Japan.

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Singapore-based VFlowTech recently announced that its vanadium flow battery, PowerCube 100-500, will be part of Pulau Ubin Island’s main sources of reliable and affordable energy. With the goal to help Singapore achieve a clean-energy future, these batteries are introduced with the goal to provide a “longer-lasting, 100 per cent recyclable, non-flammable” alternative with great versaitility.

“Our long-term vision for the Pulau Ubin project is to serve as a pioneering model for the effectiveness of long-duration energy storage systems, specifically highlighting the prowess of vanadium redox flow batteries in off-grid settings. The success of this project is intended to serve as proof of viability for similar deployment opportunities in Southeast Asia and Singapore, positioning us as a key enabler for the broader energy transition,” writes Dr Avishek Kumar, Co-founder and CEO of VFlowTech, in an email to e27.

“Looking ahead, our aspiration is to scale up this technology significantly, supporting Singapore’s energy import ambitions and emerging as a pivotal force driving the transition to cleaner energy sources. In the context of the planned 4GW energy import, we estimate the need for 60-70kW of energy storage, representing a scale-up of Pulau Ubin by an impressive 20,000 times.”

Through this project in Pulau Ubin, VFlowTech aims to encourage other regions and communities, including the mainland of Singapore, to consider these sustainable energy storage solutions and reduce the reliance on diesel generators.

“The widespread deployment of our batteries contributes to a substantial reduction in the cost of electricity and energy over time,” Dr Kumar explains.

Also Read: Amasia introduces impact assessment framework for climate tech companies

“As we scale our battery production, economies of scale come into play, leading to a significant decrease in the cost of energy storage. This cost reduction is a pivotal aspect of VFlowTech’s commitment to fostering energy equity and making clean energy affordable for all. Our goal is to bring down the cost of clean energy to less than US$0.09 per unit, ensuring that the benefits of energy transition are accessible and sustainable on a broader scale.”

The project began when EDP Renewables looked for an energy storage solution at Pulau Ubin. VFlowTech being the manufacturer of Vanadium Redox Flow Batteries (VRFBs) discussed the potential of its technology. Dr Kumar also says that the company was chosen due to its close proximity to Singapore and being the only company that manufactures vanadium redox flow batteries locally.

“Unlike our previous smaller-scale projects, this off-grid deployment presented complex challenges that compelled us to enhance our capabilities. We recognised the need to expand our team’s skill set, from hardware manufacturing to software-related management skills which are crucial for effective battery integration at the site,” Dr Kumar says.

Moving forward with renewable energy

Next year, VFlowTech want to focus on scaling its production and operations. It plans to scale its 100MWh manufacturing facility in India that will be operational by 2024 and be ready for GWh deployment by 2027. According to Dr Kumar, this facility will enhance operational efficiency, enabling increased production of PowerCubes 10-30 and PowerCubes 50-250 to meet a broad spectrum of energy storage needs.

“The introduction of our PowerCube 50-250 to the market addresses the increasing demand for modular, scalable, and efficient long-duration energy storage. Specifically designed to facilitate seamless deployment scaling, from MWh to GWh, it plays a pivotal role in powering diverse areas of Singapore as the nation embraces a cleaner energy landscape,” he said.

“Our ambitious goal is to deploy a total of 7MWh of energy storage solutions globally, with plans to install 120 units in various locations, including Singapore, India, Korea, Japan, and Australia. Furthermore, we aspire to contribute to the Green Corridor project, advancing the regional energy transition.”

Also Read: Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges

In its effort to advance the adoption of clean energy, VFlowTech has a multifaceted approach.

Dr Kumar believes that the implementation of projects such as in Pulau Ubin will inspire next generation of talents in the climate tech sectors. This is why VFlowTech also provides on-the-job training, substantial investments in research and development, effective communication strategies, and fostering collaboration among all stakeholders.

“Moreover, we actively engage in various projects designed to showcase the efficacy of long-duration energy storage systems. These projects consider both the constraints, such as limited land space, and the opportunities to repurpose existing resources. By doing so, we strive to demonstrate the viability and versatility of our energy solutions and foster a transition to cleaner, more sustainable energy sources,” he explains.

“Furthermore, we aspire to be recognised as thought leaders, actively fostering discussions about the pivotal role of long-duration energy storage as the cornerstone of energy transitions. We aim to increase the awareness of this technology and educate the public on its significance in the context of sustainable energy. Through our participation and organisation of in industry forums and collaborative initiatives, we aim to lead conversations that drive home the importance of long-duration energy storage in achieving a greener, more sustainable future.”

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Image Credit: VFlowTech

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During the COVID-19 crisis, waste collection from Malaysian households was disrupted thanks to the Movement Control Order (MCO). Used face masks added to the problem.

Yusof Faizal Amin thought about creating a solution to turn waste into electricity and use it for domestic consumption. “A miniaturised waste-to-energy (WTE) system that combines the latest waste conversion technology and power generation systems will be useful during the pandemic. That was the vision behind the EcoSfera.”

EcoSfera is a containerised, on-site waste conversion system to produce on-demand energy and valuable byproducts. It can turn organic and inorganic waste into combustible synthesis gas (syngas) to generate electricity and bio-carbon for agriculture and power plants. The system employs cutting-edge gasification and pyrolysis technology, cleaner than conventional incinerators and diesel generators.

Also Read: How Gringgo leverages AI to help improve existing waste management system in Indonesia

EcoSfera was developed by Tigasfera, a company Faizal Amin founded in 2014. “Tigasfera means ‘three spheres’ in Bahasa, which we refer to as ‘waste management’, ‘renewable energy’ and ‘decarbonisation’. “EcoSfera is designed to address all these three challenges simultaneously,” he says.

The company’s WTE approach offers several benefits, claims Faizal Amin. “Customers can divert waste away from open dumps and landfills, helping reduce methane emissions from landfills, offsetting fossil fuel-based power generation and reducing emissions associated with waste transportation and disposal,” he shares. “In addition, converting waste at the source minimises transportation costs. It reduces the sorting issue because waste is less co-mingled at the source.”

Customers can also divert waste away from open dumps and landfills, helping reduce methane emissions from landfills, offsetting fossil fuel-based power generation and reducing emissions associated with waste transportation and disposal.

“By treating at source, we can reduce transportation costs and emissions by half and reduce the hassle of sorting as it’s less co-mingled at the source. Customers can also track where their waste goes and measure the impact for sustainability and compliance purposes. The EcoSfera modular design can scale according to customer demand and deploy the solution within six months,” he adds.

EcoSfera, available in 20ft or 40ft sizes, can be installed on the customers’ premises, process five to 50 tonnes of waste per day, and create up to 150kWh of power per container, claims Faizal Amin.

“Our on-site solution empowers businesses and organisations to track and monetise their waste, which can be used for ESG (Environmental, Social, and Governance) reporting and generate new value. Our system uses the latest pyrolysis and gasification technology, which is cleaner than incinerator or diesel genset alternatives and can generate valuable byproducts,” he says.

“Moreover, EcoSfera is designed to be modular and mobile; hence, it can meet the customer’s changing demand and be deployed within six months. Additionally, this approach provides a more localised and efficient energy generation method, addressing energy needs precisely where required, thereby reducing strain on centralised energy grids and reducing the costs of developing new grids at remote locations,” explains Faizal Amin.

He admits that one of the critical challenges in developing distributed energy systems for waste conversion is the variability of waste streams. Tigasfera has overcome this challenge by creating systems that handle various waste types and volumes.

Another challenge is the need to ensure that the systems are reliable and efficient. The company has addressed this by using cutting-edge technologies and working closely with its technical partners and early customers to optimise the system.

Also Read: One man’s trash is another’s gold: How Tridi Oasis plans to transform plastic waste management

“We invested in developing a local integrated prototype machine as part of localised research and strategic showcase, which is crucial in designing and deploying our containerised version. To date, the prototype has successfully processed three tonnes of mixed waste, generate revenue from biochar and run modified genset using the syngas. We have to manage regulatory hurdles, but the engagement with stakeholders, especially the authorities and government agencies, has provided us with good support thus far,” he reveals.

Tigasfera’s monetisation strategy involves offering on-site waste conversion services through various models, including a zero CAPEX subscription fee option. “Through this system, the firm can match customers’ current waste disposal costs, generating significant value from the byproducts and receiving upsides such as carbon credits, which could be shared with our customers.”

As of now, Tigasfera targets sectors dealing with substantial waste disposal costs and being environmentally conscious, particularly industries and commercial establishments, while looking at domestic and Southeast Asia regions. It has signed NDAs and MOUs with over two dozen public-listed companies, major players along the waste value chain, research institutions, technology partners, government agencies and even a carbon credit registry. They represent the feedstock providers, byproduct off-takers, and enablers that complete our value chain.

“Given that our solution is new and we’re creating a whole new value chain, collaboration with these parties is crucial, and we are happy to receive tremendous interest and support from them. These partnerships help refine the technology, access waste sources, ensure compliance, and expand the implementation of distributed energy systems,” Faizal Amin notes.

Tigasfera recently graduated from local energy giant PETRONAS’s technology accelerator programme, FutureTech 3.0. The firm is now seeking grants/seed funding as it moves from operating prototypes to delivering its first commercial containerised EcoSfera and building its manufacturing capacity.

He says the firm plans to gradually expand into various use cases, such as the bio-energy and decarbonisation industry, addressing the needs of diverse industries and municipalities. “We aim to expand our distributed energy systems in the Southeast Asia region and have received interest from the Middle East.”

By reducing greenhouse gas emissions, decreasing reliance on non-renewable energy sources, and promoting circular economic practices, EcoSfera aims to contribute significantly to the global goals of combating climate change and promoting responsible waste management.

“We are committed to helping to create a more sustainable future, and our technology is a key part of the solution,” he concludes.

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Image Credit: Tigasfera.

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