In the fast-paced world of business, where every decision counts, investing in employee cybersecurity has become more than just a best practice – it’s a strategic move that can significantly impact a company’s bottom line.

In this article, we explore the compelling reasons why businesses should prioritise cybersecurity training for their employees, not only to bolster their digital defences but also to make sound financial sense.

Navigating the digital landscape

As businesses continue to digitise their operations, the risk of cyber threats looms large. Your employees are not just the end-users; they are the frontline defenders against potential attacks. By equipping them with the knowledge to navigate the digital landscape securely, businesses can build a robust defence against cyber threats.

The financial toll of cybersecurity breaches

The financial ramifications of a cybersecurity breach are not to be underestimated. Legal fees, regulatory fines, and the costs associated with mitigating the breach can take a toll on a company’s budget. Investing in employee cybersecurity is akin to purchasing insurance – a proactive measure that can save businesses from the financial fallout of a breach.

Human firewall

Employees are often the first point of contact with potential threats, and a well-trained workforce acts as a human firewall. Recognising phishing attempts, practising secure password management, and being vigilant against social engineering tactics are skills that can significantly reduce the risk of successful cyber attacks.

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

Minimising human errors

A significant percentage of cybersecurity incidents are a result of human error. From clicking on malicious links to falling for scams, these errors can be costly. Through comprehensive cybersecurity training, businesses can minimise these mistakes, making their workforce a more reliable line of defence.

Productivity boost

Beyond security benefits, cybersecurity training contributes to increased productivity. When employees are well-versed in secure digital practices, they spend less time dealing with security-related issues and more time focusing on their core responsibilities.

Regulatory compliance

Various industries are subject to stringent cybersecurity regulations. Non-compliance not only poses a legal risk but also brings financial consequences. Ensuring that employees are educated on these regulations is a proactive step toward avoiding fines and legal complications.

Adapting to emerging threats

The landscape of cyber threats is ever-evolving. Ongoing cybersecurity education is an investment in the future, enabling employees to adapt to emerging threats and ensuring that your business remains resilient in the face of new challenges.

In conclusion

In conclusion, prioritising employee cybersecurity is not just about securing digital assets; it’s a strategic move that makes financial sense. The investment in training pays off in the form of a more secure business environment, reduced risk of breaches, and a workforce that is not only vigilant but also contributes to the company’s overall productivity and success in the dynamic digital landscape.

—

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

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

Image credit: Canva

The post The business edge: Why prioritising employee cybersecurity is a smart investment appeared first on e27.

Japan, one of the largest and most competitive economies in the world, is known for its advanced technology and diverse industrial sectors, including automotive, electronics, and robotics.

A huge contributor to its global reputation for innovation is the presence of its highly educated, industrious workforce. Similarly, there is a wealth of support from the country’s leaders and government institutions available for the public to leverage. This has led to the installation of conglomerates across different industries that sprouted over the last few decades and have expanded and secured their market globally.

However, in today’s evolving tech landscape, established enterprises no longer monopolise innovation and creativity. Young talent with entrepreneurial flair is easily found and honed through online and offline resources — particularly in the tech startup landscape. 

Southeast Asia has cemented itself as an active hotbed for investment and innovation

Over the years, Southeast Asia’s tech startup ecosystem thrived due to a young, tech-savvy population, increasing internet penetration, and a growing middle class. These factors create a fertile ground for innovation in sectors like deep tech, healthtech, fintech, e-commerce, and many others.

Also read: Expanding the possibilities of metaverse with RAPUTA

Regional governments have caught on to this trend, prioritising development and aiding startups with global resources for growth and expansion. According to an article published by Tatler, “The region’s growth potential is staggering, with a projected increase of $130 billion from 2022 to 2025 and an impressive CAGR of 20%. It is predicted that Southeast Asia’s technology startups could reach an astounding valuation of $1 trillion by 2025, up from $340 billion in 2020.” This attracts the attention of more developed countries looking to deploy capital.

This is why Mitsubishi Electric, one of the world’s biggest manufacturers, is pumping $35m into startups from Southeast Asia via the ME Innovation Fund (MEIF), serving as a bridge between the Mitsubishi Electric Group and startups. Since its founding in 2022, MEIF has taken “technology” as its keyword to discover innovative and novel ideas from startups and bring change to the world through co-creation.

Kenji Minefuji, Manager at Business Innovation Group at Mitsubishi Electric and Investment lead at ME Innovation Fund (MEIF), is in charge of the deal operation and project management after investment, providing hands-on support for startups. 

When asked about their interest in Southeast Asia, he underlines, “The potential market and the growth of the population is the highlight. [The] Southeast Asian startup landscape demonstrated an exceptional understanding of the social issues at hand. They not only offer technological innovation and high-quality products but also provide solutions directly as well as address the needs of the communities they serve.”

One notable startup in its portfolio is Kegmil, a Singapore-based tech startup specialising in developing AI-based software solutions aimed at revolutionising the future of field service management. Kegmil is on a mission to empower deskless field service professionals in Southeast Asia through their cloud-based, mobile-first software for maintenance heroes across industries.

According to Minefuji, “We are committed to nurturing and understanding alongside Kegmil and our other portfolio companies in this journey towards excellence. Our intent is clear. In the future, we intend to proceed with scale implementation.” This is the kind of synergy that is available for regional startups to capitalise on. 

Exciting synergy between Japan & Southeast Asia forging powerful future startups

Global Japanese firms have established multiple bases in Southeast Asia. Their presence provides a strong customer base for startups, aiding product launches and future expansion to the Japanese and global markets. Japanese companies offer manufacturing expertise and ecosystem access, allowing Southeast Asian startups to merge technology and market entry effectively.

Also read: Future-proofing omnichannel touchpoints for businesses via AI

A partnership between both regions is an effective way to inject fresh deal flow into the Japanese ecosystem. This also strengthens Southeast Asia’s global reputation for innovation, as corporate support fuels expansion and speedy growth. For example, Mitsubishi Electric can be a manufacturing partner for deep tech and industrial startups well into their Proof of Concept stage.

Deep tech startups gain global support through corporate collaboration programs

Corporate and startup enablers are joining forces to support startups, leading to programs that further strengthen and empower startups. Leave a Nest started the Tech Planter, one of the largest ecosystems connecting Southeast Asia to Japan back in 2014, with the intent to discover and sprout the seeds of innovation that are being developed by researchers and startups that aim to implement their science and technology into our society. Subsequently, in 2018, they established the Center of Garage, which is a unique incubation space specialised for deep-tech startups in Tokyo, Japan.

Recently, Leave a Nest is excited to announce the establishment of the newly formed Center of Garage Malaysia. The emergence of COVID established the necessity for the emergence of deep tech startups to solve pressing concerns. There is still a lot of support needed to claim the success of startups in deep tech and the Center of Garage Malaysia aims to fulfil that role.

Based on his leadership skills directing the Leave a Nest Group as Founder and Group CEO, Yukihiro Maru, PhD,  anticipates that “Deep tech startups would be a very important portion of Southeast Asia.” Dr Maru further clarifies that “The situation and current ecosystem is heavily supporting IT, but to ensure the success of deep tech startups, new measures to create a new ecosystem should be implemented. 

As part of their mutual mandate, Mitsubishi Electric and Leave a Nest have been partnering since before the establishment of MEIF. For instance, through Leave a Nest’s Tech Push Program, Mitsubishi Electric shared its patented technology and also participated in collaborative opportunities with students to generate new business ideas based on scientific and technological breakthroughs.

This has become a focus area being considered for deal flow, Minefuji anticipated. Dr Maru also emphasises Leave a Nest’s promise of support for student enterprises emerging from university spin-offs and technology transfers.  “My history and experience on the technical side stretch turning university technology to society adaption, and on the business side, how to IPO and collaborate with big corporates. This is the right timing for the Southeast Asian governments wanting to change the situation. Markets now rely not only on IT but also on deep tech to solve the deep issues,” he explained.

How startups can maximise the opportunities

Startups engaging with Mitsubishi Electric should know that their global presence spans beyond Japan and Southeast Asia, reaching North America and Europe. Minefuji advised that ME’s expertise holds significant market dominance in areas like factory automation and air conditioning. This extensive international network provides valuable resources for international expansion. Expanding from this, the ME Innovation Fund encourages startups to direct their energy toward tackling pressing social problems and driving transformation through innovative concepts and groundbreaking technology.

Minefuji added, “It’s vital to establish clear lines of communication regarding capabilities and limitations. The wealth of experience within our engineering community remains there as an immediate asset. This honest dialogue allows both parties to identify areas of mutual benefit.”

Also read: The Future of Capitalism: Get the chance to win $5 million worth of investments

Dr Maru clarifies that the verticals they are looking to support and get involved with are relevant to their existing expertise. Startups not only in industrial and logistics, AI, robotics, manufacturing, and energy, but also in biotech, biofuel, bio fertiliser, food security, agriculture and food systems, agricultural feeds, and sustainability are welcome to introduce themselves for investment and partnership opportunities. 

Dr Maru explains, “Our vision is Advancing Science and Technology for Global Happiness. That is the vision for us. Not only for revenue or profit but also, we want to solve deep issues and explore deep tech. We have to actively pair with local talents to identify opportunities and co-create new business together.”

The collaboration between established Japanese conglomerates and emerging startups from Southeast Asia not only signals global interest in the region but also demonstrates the transformative potential of transnational relationships. As Southeast Asia cements its position as a thriving hub for investment and innovation, the ME Innovation Fund’s commitment to this collective success reflects a strategic effort to capitalise on the region’s remarkable potential — with Japan ultimately serving as a catalyst to unlocking growth opportunities for the region and beyond.

For more information, visit https://www.mitsubishielectric.com/cvc/index.html

– –

This article is produced by the e27 team, sponsored by CPXI

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.

The post Bridging Japan and Southeast Asia’s tech landscapes through the ME Innovation Fund appeared first on e27.

JALA, an Indonesian digital enabler for the shrimp industry, has closed a US$13.1 million Series A round of financing led by Intudo Ventures.

Sinar Mas Digital Ventures (SMDV) and existing investors Mirova and Meloy Fund (Deliberate Capital) also joined.

With this round of financing, JALA plans to scale up its operations to Sumatera, Sulawesi, and Nusa Tenggara — three areas that have demonstrated unique potential for the growth of the shrimp farming industry.

Also Read: Jala Tech secures seed funding to empower shrimp farmers

“This funding will enable us to bring our end-to-end shrimp farming solution to remote areas in Indonesia and equip local farmers with the technological and financial support they need in advancing the country’s shrimp production,” said Liris Maduningtyas, Co-Founder and CEO of JALA.

Founded in 2017 by Aryo Wiryawan (Chairman) and Maduningtyas, JALA provides shrimp farmers with advanced technology services, including in-depth aquaculture analysis built on real-time data and connected equipment, farm assistance, farm financing, supplies and inputs and marketplace services to bring harvest to market.

Its mobile app enables effective monitoring of their shrimp farming processes. The app allows users to record, monitor, and analyse every aspect of their shrimp farming in real-time directly from their mobile devices. This functionality provides farmers with data and progress tracking, assisting them in making well-informed decisions promptly.

Through its farm credit scoring service, farmers can prove creditworthiness and gain access to affordable financing options. JALA offers harvest access services for farmers of all sizes to help them bring their products to market.

The agritech company also offers farm assistance, which gives farmers the direct guidance and support they need in tackling day-to-day challenges in their farms.

Also Read: Agritech startup Jala comes out as winner of Top100 Indonesia Qualifier Roadshow

The company claims it has won over 20,000 users, and its app has monitored shrimp across more than 35,300 ponds. In the future, it will feature more in-depth predictions for cultivation performance, water quality, shrimp disease prediction, and automation in data inputs.

JALA has also collaborated with Conservation International in building the first Climate Smart Shrimp, a combined intensification effort with mangrove restoration for traditional shrimp farms.

—

Image Credit: JALA

The post JALA closes US$13.1M Series A round to empower shrimp farmers with advanced solutions appeared first on e27.

Aethir, a Singapore-based company founded in 2021, aims to address the scalability challenges faced by the gaming and AI industries.

Led by a team of cloud industry veterans, it has built a Scalable Decentralised Cloud Infrastructure (DCI) network that offers significant cost reductions, improved efficiency, and reduced latency. With a diverse user base consisting of infrastructure providers and end-users, Aethir aims to significantly impact the cloud computing space.

The company specifically targeted the scalability of GPU cloud infrastructure, which was plagued by high costs, limited resource availability, and latency. By leveraging advanced technologies and edge computing principles, Aethir has successfully reduced costs, enhanced scalability, and significantly reduced latency in its infrastructure.

“The cloud sector has traditionally been a challenging industry to scale, plagued by high costs, particularly for customers requiring complex real-time rendering or streaming infrastructure – and that’s not taking into account the additional stress on the ecosystem as a result of the AI boom,” explains Mark Rydon, CEO and Co-Founder, Aethir, in an email interview with e27.

“At Aethir, we’re laser-focused on solving the cloud scalability challenge. We’ve built a global Decentralized Cloud Infrastructure (DCI) network specifically to scale complex cloud infrastructure services globally; a significant milestone for the future of the gaming and AI industry. The cost and performance advantages of our DCI are significant, and when coupled with our ability to operate in developed and developing markets alike, we’re unlocking a huge amount of potential value for our customers.”

Also Read: Foodtech transformation in Philippines: Cloud kitchens and online delivery reshape eating habits

Aethir’s user base can be categorised into two distinct categories. The first category comprises infrastructure providers with valuable computing resources, particularly GPUs. Aethir engages these providers through strategic partnerships and industry networks, allowing them to generate a return on underutilised equipment.

The second category comprises end-users, primarily gaming and AI companies, who require high-performance computing resources. Aethir caters to their needs through its GPU-as-a-service model, offering low-latency and cost-effective access to GPU resources.

Moving forward

Aethir’s revenue model combines traditional transaction fees with blockchain-based tokenisation. This approach ensures sustained revenue and creates an incentivized ecosystem benefiting both infrastructure providers and end-users.

In July, Aethir announced the completion of its Pre-Series A funding round, securing over US$9 million in investment. The round was led by renowned global investors, including Sanctor Capital, Hashkey, Merit Circle, and CitizenX.

“We have been proud supporters of Aethir since 2021 and are helping to expand the network by investing in the rendering nodes. The initial vision and the technology of the Aethir team convinced us to be part of the seed round. The execution of building the network and its fast adoption kept us as active members of the growing ecosystem,” said Chen Li, CEO and Co-Founder, Youbi Capital, who invested in the company.

“Unlike the low utilisation of nodes in other decentralised networks, the Aethir nodes are projected to be used 50 per cent of the time, generating significant revenue for the node operators in addition to the mining reward. It makes the early participation of mining on the Aethir network unique from all other DEPIN projects.”

Also Read: How to manage multi-cloud complexity: A strategic guide

With the funding, Aethir is poised to expedite its global expansion in key markets such as Southeast Asia, Latin America, and North America. The company aims to capitalise on the growing demand for its services and establish a strong presence in these regions. In addition to expanding its infrastructure, Aethir has forged strategic partnerships with major players in the Gaming and AI Infrastructure space. These partnerships will further enhance the company’s reputation and visibility in the market.

As 2024 approaches, Aethir is gearing up for significant milestones. The company plans to launch its token in the first half of the year, marking a deeper integration into blockchain technology and solidifying the scalability of its infrastructure model.

Furthermore, Aethir is on track to onboard its first million users, a testament to the trust and demand for its services. Looking ahead, Aethir is focused on expanding its product offerings as the AI marketplace continues to evolve, ensuring it stays at the forefront of innovation in cloud computing.

—

Image Credit: Aethir

The post Aethir takes on gaming and AI scalability challenges with its innovative solutions appeared first on e27.

There is no doubt that Taiwan’s tech and startup landscape is a dynamic, thriving, and rapidly growing ecosystem. According to the 2022 Taiwan Startup Ecosystem Survey published by PWC and the Taiwan Institute of Economic Research, Taiwan tech startups excel in R&D and commercialisation. When evaluating the local startup ecosystem and international competitiveness from an innovation standpoint, Taiwanese startups were observed to excel in “innovation and product technology R&D capabilities” and “commercial competence” compared to foreign startups.

The primary hurdles for domestic startups involve market expansion and revenue increase, with a notable focus on revenue growth (56.4%), broadening their customer base (47.4%), and enhancing profit margins (37.3%). Additionally, locating suitable strategic partners (32.1%), venturing into global markets (24.6%), and attracting talent pose challenges for Taiwanese startups. (Source: PWC)

Innovation therefore cannot be confined to local markets. Startups, to grow, need the mutual partnership of other exciting ecosystems to foster growth opportunities and pursue success. Cross-country collaborations bring a lot of benefits in accelerating digital transformation brought about by unlocking new market opportunities in previously unfamiliar terrain.

As such, startups pursuing growth trajectories are inclined to explore this path despite the challenges that may come with it.

Southeast Asia: An exciting market for Taiwan

With a history of fostering innovation, a robust and agile market, and a dynamic tech landscape, it comes as no surprise that Taiwan has set its eyes on Southeast Asian markets due to its advanced progress. As shown in the rise of unicorns in recent years, the region’s diverse market offers opportunities for unique solutions and cross-border collaborations, particularly in spaces where Taiwan thrives the most such as manufacturing.

Singapore alone is a playing field for public and private entities actively engaging with startups in the region, further validated by ranking #7 in the Global Innovation Index 2022. With the combined market access of other locally fostered economies, Forbes predicts that by 2025, Southeast Asia’s technology startups could reach an astounding valuation of US$1 trillion by 2025, trebling from US$340 billion in 2020.

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

This predicted potential is easily accelerated through startup regional expansion and potential partnership opportunities. Mutual support between Taiwan and Southeast Asia can create startups that are ready to take on a global status. Southeast Asia can provide market opportunities and exposure, while Taiwan’s ecosystem aids through product development and ICT corporate cooperation.

Kao Shien-Quey, Deputy Minister of the National Development Council (NDC) – Taiwan, describes the market by expressing that, “a lot of capital and talent [are] flowing into the Southeast Asian countries. There are solutions utterly leveraging cutting edge technologies such as AI, blockchain, and 5G,” underscoring how the significant expansion of these sub-sectors are recognised on top of the success of existing digital economies such as fintech and e-commerce.

Taiwan’s unique advantage in advanced technologies and solid industrial foundation is further strengthened thanks to the support of a robustly supportive ecosystem, particularly through the help of Taiwan’s NDC. 

Connecting the dots for thriving ecosystems to foster global potential

NDC launched Startup Island TAIWAN in 2019 to attract investment and development of startup communities in Taiwan. The initiative has worked to lay out networks, promote exchanges, and enhance the visibility of Taiwan’s innovation in international society. Furthermore, NDC is collaborating with government departments such as the Ministry of Economic Affairs and the National Science and Technology Council to enhance their initiatives’ scope.

This year, the NDC selected 13 model companies from more than 200 nominated candidates to undergo Startup Island TAIWAN’s “NEXT BIG” program. This initiative aims to identify and promote benchmark startups recommended by the community and industry leaders. The awarded companies cover a wide range of fields from educational technology, health management, and AI, to cybersecurity.

Deputy Minister Kao emphasizes that “Variety is the need and main source for local startups if they want to pursue and accelerate the process of digital transformation. We provide support from funding (through the National Development Fund), mentorship, and talent recruitment.” Startups in the program are invited to take advantage of these resources in order to go global, attract international investors, and eventually exit with an IPO.

Also read: Expanding the possibilities of metaverse with RAPUTA

Supported by President Tsai Ing-wen, the Taiwanese government has continuously updated their strategies to create a better investment environment and support companies during her presidency. In this way, she believes that Taiwan is speeding up to become the rising star of startups in the near future, and hopes Taiwan can be a world leader in innovation. Their commitment extends a crucial signal for Southeast Asian startups to capitalize on present and future opportunities for international development.

This is exemplified in recent collaborative efforts wherein Southeast Asian startups are exposed to potential partnerships through the presence of the Taiwanese delegation in SWITCH Singapore. Southeast Asian startups, especially those in more traditional markets, can also benefit from overseas expansion by leveraging Taiwan’s increased R&D and market support in order to build resilience in early product penetration. These strong linkages can create more options for early-stage companies targeting B2B and B2C markets, and provide wider job opportunities in both technical and digital fields. This is the kind of collaboration Deputy Minister Kao is envisioning to bridge successfully in the long run.

Additionally, Taiwan’s long-standing deep business ties with both the US and Japanese markets can potentially be leveraged by Southeast Asian startups. This network is imperative in building the right infrastructure and foundations. Deputy Minister Kao iterates that collaboration can exist, “if not just in technology sharing, then also in financing and talent recruitment. This can form the triangle of resources that would benefit general contractors from different regions.”

Slow and steady growth for ecosystem players in Taiwan and Southeast Asia

Startups face a high risk of failure and challenges at the earlier stages of startup growth. This is where both local and international ecosystems can intervene the most. Taiwan’s government policies bring this to fruition through increased assistance and entrepreneurial resources, as shown by their recent establishment of international startup clusters, financial subsidies, and knowledge-sharing programs.

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

Startup Island TAIWAN and by extension, NDC’s presence, signifies Taiwan’s commitment to elevating its global recognition from a ‘Startup Island’ to a prominent player. With a unified brand identity and public-private partnerships, the objective is to demonstrate Taiwan’s innovation potential on the global stage.

For further details, please visit the Startup Island TAIWAN website: https://startupislandtaiwan.info/

– –

This article is produced by the e27 team, sponsored by Startup Island TAIWAN

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.

The post Taiwan tech companies eye regional expansion in Southeast Asia appeared first on e27.

Travel and finance have long been intertwined. From exchanging currencies at airports to juggling various payment methods, travellers have faced numerous challenges when it comes to managing their finances while on the go. The days of carrying bulging wallets filled with stacks of cash, traveller’s checks, and multiple credit cards are now behind us.

In the modern era, simplicity and efficiency are the name of the game. The millennial generation, in particular, has shown a strong preference for consolidating their financial needs into a single digital device. This shift towards digitalisation has given rise to a plethora of payment solutions designed to streamline the travel payment process.

Simplicity, for a seamless payment user experience

The era of carrying wallets has become a thing of the past as more people reduce their reliance on manual transactions and digital payments take centre stage. Enabling mobile-first, cross-border payments has become a necessary innovation in today’s fast-paced world.

With numerous payment apps available on mobile platforms, companies need to continuously improve their processes based on end users’ needs. The success of fintech and technology-driven businesses is in recognising the importance of customer engagement, as it not only builds loyalty but increases customer lifetime value and fosters business growth.

Also Read: Navigating sports tech using the travel industry’s playbook

To me, enhancing the customer experience also means providing faster and more accessible financing options for all. It is imperative to serve every community, whether it means helping them manage their cash flows while travelling, sending money back to their families or navigating the changing economic landscape.

Enhanced security and trust in payment platforms

Amid the myriad of digital payment options today, among the key differentiators that customers are seeking are reliability and trust. With the SVB collapse earlier this year and the recent disruptions of DBS and OCBC banking services, the public consensus is that trust has been inevitably shaken – and people are wary about where they are placing their finances.

For digital payments and remittance providers, a guarantee for digital safety when it comes to a user’s personal information is essential. Besides providing end-to-end encryption and 24/7 customer support, firms have to remain accountable and on the ball when it comes to customer security, especially when travelling.

Budget travellers still face high costs and limited convenience

As it nears year-end, travel demand shows no signs of slowing, amidst airline profits rising and despite living expenses soaring. People are eagerly planning their itineraries for the holiday season, fuelled by a renewed intention to explore more. Yet, budget-conscious travellers still face the challenges of expensive options and inconvenience.

Traditionally, trips require the exchange of foreign currencies and physical cash, and tourists are often cautious about their spending so that they can stick to a budget while getting a great shopping experience.

Research by TripAdvisor has shown that shopping is a significant part of travellers’ experiences, with a considerable portion of their travel expenses allocated to shopping.

Furthermore, in Roadbook’s 2023 current trends, consumers yearn for meaningful travels while maintaining their budget and longer stays. Saving money becomes essential to continue pursuing their wanderlust, especially for millennials.

In fact, younger generations, such as millennials and Gen-Zs, are becoming increasingly influential in the movement of money, favouring digital platforms and mobile devices for their financial transactions.

This begs the question, what solution can today’s technology provide in a time where convenience and simplicity are expected?

A boon to travellers: The humble travel card

Travel credit cards may offer various benefits, such as rewards points and travel insurance, but they can also come with limitations. Firstly, these cards often have high annual fees, which can offset the value of rewards if you don’t use them frequently.

Additionally, travel credit cards may have foreign transaction fees, making international purchases costly. Furthermore, earning and redeeming rewards can be complex, and blackout dates or restrictions may limit your travel options. It’s essential to carefully consider these limitations and assess which travel credit card aligns with your spending habits and travel needs.

Today, many businesses are incentivising customers with rewards, points, cashback, and other benefits, further fuelling the demand for these cards. The integration of technology, particularly smartphones, has also paved the way for seamless digital transactions linked to physical credit cards.

Also Read: Navigating the relationship between ChatGPT and the travel industry

In my personal opinion, mobile payment apps (in the form of multi-currency wallets) and travel cards offer the best solutions for hassle-free and efficient overseas payments during travel. At its core, travel cards aim to bring the value of convenience to customers.

One of the biggest benefits to all our budget travellers out there is the favourable foreign exchange rates, which can add up to big savings when you are spending abroad. Furthermore, the savings on foreign exchange conversion can even start ahead of your travel by converting Singapore dollars to foreign currency whenever the rate is in your favour and storing it in our multicurrency wallet until your trip.

To conclude, in a world where travel is a cherished aspiration and digital payment solutions are becoming increasingly indispensable, it’s clear that simplicity, security, and convenience are paramount.

As we bid adieu to the days of cumbersome wallets and navigate the digital landscape, payment apps are becoming key facilitators of seamless cross-border transactions. In a time when budget-conscious travellers seek meaningful experiences without breaking the bank, travel cards are standing out as a beacon of financial efficiency.

So, as you plan your next adventure, remember that technology has answered the call for convenience and simplicity, making your travel payments as effortless as your wanderlust desires. Safe travels!

—

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

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

Image credit: Canva

The post Money on the move: The key to making dynamic travel payments simple appeared first on e27.

In the dynamic landscape of e-commerce, direct-to-consumer businesses, and the quest for customer retention, an age-old TV programming concept — selling live to an audience — has surfaced. Here, the conventional transactional exchange gives way to the engaging realm of live-stream commerce.

This dynamic marketplace, where real-time engagement and emotional manipulation reign supreme, has become the epicentre of a phenomenon known as impulse buying tendency — the predisposition to make unplanned, spontaneous purchases, often fueled by a surge of emotions and a sense of urgency.

Live-stream commerce, with its captivating personalities, persuasive sales pitches, and penchant for scarcity-induced tactics, has proven to be a fertile ground for this tendency to flourish. By artfully employing scarcity-induced sales, live streamers tap into the depths of human psychology, creating a sense of urgency and perceived scarcity that triggers a fear of missing out (FOMO) among viewers. This FOMO, coupled with the persuasive language of the live streamer, often leads to impulsive purchases driven more by emotion than by rational decision-making.

Scarcity-induced promotions: A key player in live-stream commerce

At the heart of this phenomenon lies the concept of scarcity-induced promotion, a hallmark of live-stream commerce. By artificially limiting the availability of a product, either through time constraints or quantity restrictions, live streamers create a sense of urgency and perceived scarcity that triggers a fear of missing out (FOMO) among viewers. This FOMO, coupled with the persuasive language of the live streamer, often leads to impulsive purchases driven more by emotion than by rational decision-making.

The manipulation of anticipated emotions plays a pivotal role in this dynamic. Live streamers adeptly orchestrate these emotions, evoking a sense of regret for missing out on a desired product while simultaneously painting a picture of joy and satisfaction upon a successful purchase. This emotional rollercoaster further fuels impulse buying tendencies as viewers seek to avoid the anticipated regret and embrace the anticipated rejoicing.

Also Read: The rise of live commerce in Asia and adoption of BeLive by retailers

The frequency of live-stream viewing also contributes to the prevalence of impulse buying. As viewers become more familiar with the dynamics of live-stream commerce, they become more susceptible to the persuasive tactics employed by live-streamers. The repeated exposure to scarcity-induced promotions and emotional appeals reinforces the impulse buying tendency, making it more likely that viewers will make unplanned purchases.

In the realm of live-stream commerce, scarcity-induced promotions have become a potent tool, deftly wielded by live streamers to manipulate emotions and drive impulse buying decisions. By creating a sense of urgency, perceived scarcity, and anticipated emotions, live streamers transform viewers into enthusiastic consumers eager to make unplanned purchases in pursuit of a fleeting sense of satisfaction.

However, this phenomenon comes at a cost. Impulse buying can lead to financial strain, buyer’s remorse, and even addiction. As live-stream commerce continues to grow in popularity, it is crucial to raise awareness about the potential consequences of impulse buying and empower consumers to make informed decisions.

Businesses operating in the live-stream commerce arena must also exercise a sense of responsibility. While scarcity-induced promotions can be effective in driving sales, they should not come at the expense of consumer well-being. Businesses should prioritise transparency, clarity, and responsible marketing practices to ensure that viewers make informed decisions aligned with their needs and financial capabilities.

Live-stream commerce, when approached with a focus on genuine engagement, informed consumerism, and responsible marketing practices, can thrive as a platform for excitement, connection, and sustainable growth.

By understanding the dynamics that influence consumer behaviour in this dynamic environment, both consumers and businesses can harness the power of live-stream commerce to create positive and rewarding experiences.

—

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

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

Image credit: Canva

The post Impulse buying dominance: Scarcity-induced sales in live-stream commerce appeared first on e27.

The metaverse represents a paradigm shift in the way we perceive and engage with both the virtual and physical realms. This visionary concept holds the power to fundamentally alter the landscape of human interaction and experience. It’s a digital frontier where boundaries blur, creating a collective, immersive, and interconnected world that transforms and transcends the limitations of the human experience.

One of the most profound impacts of the metaverse lies in its potential to reshape social interactions. No longer confined by geographical distances, individuals can come together from across the globe, fostering connections and collaborations that were once unimaginable. Friendships, business partnerships, and creative endeavours can flourish in this boundless space, forging a new era of how we engage and interact with each other.

When discussing the potential of the metaverse, there is no denying its vastness: from reshaping social interactions by transcending geographical boundaries to revolutionising education with immersive learning experiences. The metaverse promises to redefine how we work, play, learn, and create in an increasingly interconnected digital world, amounting to a $5 trillion impact in various customer and enterprise use cases.

Exciting possibilities await at the forefront of cutting-edge technology

To deliver a truly immersive virtual reality experience, cutting-edge technology is essential. Quality infrastructure is crucial to ensure lifelike graphics. Minimal delay between user actions and system response is vital to prevent motion sickness and enhance realism. Advanced haptic feedback systems offer tactile sensations, allowing users to feel objects they interact with, adding a new dimension to the experience. High-speed, low-latency networks like 5G, coupled with edge computing, ensure seamless online experiences even in highly detailed, data-intensive virtual worlds.

Also read: Future-proofing omnichannel touchpoints for businesses via AI

Apart from delivering a seamless experience, technology also plays an equally important role in security, privacy, and interoperability. Protecting user data and ensuring secure transactions are vital for widespread metaverse adoption. Meanwhile, standards and protocols must be established to enable cross-platform interactions, ensuring that users are not confined to closed ecosystems. 

For the metaverse to truly work, the system highlights the importance of high fidelity and decentralised experiences, something that only a few companies out there are capable of offering.

RAPUTA’s forward-looking philosophy would transform the metaverse social networking experience

One of the pioneers leading the charge for a high-fidelity and decentralised metaverse experience is RAPUTA, an online virtual world streaming platform, and high-fidelity digital asset distribution service. RAPUTA allows users to meet, chat and explore with customised 3D avatars in AI-generated virtual worlds on the internet browser. Providing the best social experience in a spatial environment, their vision is to transform text messaging and video image processing into a movie-like 3D virtual world, offering the best contextual metaverse experience — which refers to its unique framework that enables users to navigate the platform through event-driven, goal-driven, and relationship-driven modes, as opposed to simple open-endedness.

The company, founded in 2022, is working across Singapore, New York, and Taipei. RAPUTA’s multidisciplinary approach combines expertise in-game mechanics, social applications, artificial intelligence, and more, allowing their team to craft a Metaverse experience that is both awe-inspiring and functional.

RAPUTA’s unique offering is simple; its platform provides a contextual spatial experience designed for social connection, enabling users to discover and support talented and creative content creators such as social media influencers and YouTubers, among others. Their outstanding features promise live-linked facial expressions, an interactive spatial environment, AI-generated avatars, hyper-realistic simulation, and performant avatars, all of which add up to providing a responsive and seamless user experience.

Ultimately, RAPUTA empowers metaversal interconnection on the back of proven technology.

Why RAPUTA is a prime contender for becoming the leading Metaverse platform provider

RAPUTA’s mission is to enrich the metaverse experience with original and creative content. Their metaverse platform would allow users to chat and interact with photorealistic avatars without the need for VR equipment.

To make the experience more exciting, RAPUTA also boasts the integration of game mechanics, social applications, artificial intelligence, and more. Their approach results in a metaverse experience that balances awe-inspiring creativity with functional usability, reducing time and cost by 10x and building an all-in-one solution: from concept to full-featured virtual environments.

Customisation and scalability allow a unique experience for all users that has the power to simulate hyper-real interactions with good character and environment design and world-building that is accessible across different platforms.

Also read: The Future of Capitalism: Get the chance to win $5 million worth of investments

This makes RAPUTA a metaverse powerhouse, delivering the technology, creativity, and services to help you unleash the next generation of virtual commerce, entertainment, education, and social spaces.

Moreover, embracing the virtual world offers fresh revenue models that rejuvenate brands through B2B opportunities and synergies with other for-profit and non-profit organisations, as well as B2C2C partnerships, especially when it comes to magnifying both influence and income of the influencers that the platform helps empower. With this, RAPUTA is leading the charge for quality metaverse experience and economy. 

Unique cases for companies integrating the metaverse experience into the real world

Brands working with RAPUTA establish their branding and identity, weaving virtual realms into daily life by harnessing the power of cloud computing. Tailored monetisation through additional purchases and other revenue schemes are made available, enabling brands to assemble communities in one virtual space at an unprecedented scale. 

One such case is the creation of the Dhamaverse, due to the observed significant increase in anxiety, depression, and other mental health concerns associated with the growing use of social media applications. The primary purpose behind the creation of Dharamaverse is to establish a virtual sanctuary where individuals can find solace and inner peace.

Employing state-of-the-art photorealistic 3D technology, Raputa strives to provide users with an experience that makes them feel as though they are physically present within these serene settings. This immersive environment is intended to aid individuals in achieving a heightened sense of calmness.

Community building is another application of technology that brands can capitalise on. Producing distinctive and exciting content, Raputa intends to host a wide array of large-scale activities, encompassing TED talks, storytelling, experience sharing, group discussions, and therapeutic healing sessions. This encourages users to establish and participate in communities within the platform, further made possible by the presence of replicas of real people in the metaverse.

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

Other particular use cases for B2B Metaverse-as-a-Service are available. Brands can host virtual concerts and use the platform for gaming and entertainment purposes. The technology is also capable of commerce activities via interactive 3D product displays and metahuman customer service clerks, showrooms for manufacturers, real estate properties, interior design, art galleries, exhibitions, and tradeshows.

Companies can leverage digital land to enhance their recruitment and onboarding processes. Additionally, the audience can benefit from educational and conference opportunities within a virtual campus, offering an enjoyable networking and learning experience. Moreover, a customer support centre in the metaverse can be established to improve customer services.

The convergence of these technologies is rapidly advancing, making the metaverse an increasingly feasible and thrilling prospect. As these innovations continue to mature, we can anticipate a metaverse that is not only immersive but also accessible and beneficial across various aspects of our lives — and RAPUTA is at the forefront of reshaping the future of these immersive digital experiences.

For more information, visit their page: https://www.raputa.com/

– –

This article is produced by the e27 team, sponsored by RAPUTA

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.

The post Expanding the possibilities of metaverse with RAPUTA appeared first on e27.

Safeguarding intangible assets (IA) and intellectual property (IP) is paramount for enterprises looking to protect their valuable work. However, navigating this complex terrain is akin to steering a ship through uncharted waters for many businesses. They are presented with numerous challenges. One of the primary hurdles is the difficulty in charting the right course for their IA/IP needs throughout the stages of the innovation cycle. This often entails casting a wide net for research and information, involving substantial time and effort. 

Furthermore, within the intricate world of IA and IP, identifying suitable service providers that can address a business’s specific IA/IP needs can be a trying task. This challenge is compounded in a globalised environment, where businesses venture into diverse international markets. Each has its unique IP protection requirements, varying from one territory to another. 

But one thing is for sure – protecting your IA and IP is like setting your sail in the right direction. It is a strategic move with the potential to significantly shape the course of your business, amidst the unpredictable tides of the market. 

In response to these challenges, the government has introduced a new resource called GoBusiness IP Grow, designed to strengthen enterprises’ readiness to safeguard their IA and IP. It is Singapore’s latest one-stop online marketplace for enterprises to seamlessly access services related to IA and IP.

Through the free one-stop platform, enterprises can access: 

1. The e-Adviser for IP Service to help them understand their IP needs based on their business activities
2. The e-Adviser for IP Service Provider to match them to suitable IP service providers that can address their diverse needs
3. A comprehensive range of 20 IA/IP service directories that covers a spectrum of legal and non-legal commercial services

Intangible assets and intellectual property are your business’s treasured jewels

Intangible assets (IA) hold immense significance for businesses across all industries. They encompass non-physical elements of a company’s assets, such as brand reputation, proprietary technologies, and established customer relationships. Together, these elements play a vital role in driving a business’s success on multiple fronts. They form the bedrock of a business’s competitive advantage, innovation, and long-term growth.

Also read: Things you need to know to be a part of the 2024 TOP100 program

Safeguarding these assets grants businesses exclusive control over their innovations and creations, as well as their brand and customer relationships. This deters competitors from replicating or using these assets without permission. 

Take Hydroemission, a material science company that has developed its proprietary technology to combat the pervasive issue of root rot diseases in food crops. This problem significantly impacts crop yields, resulting in hefty annual losses amounting to tens of billions of dollars yearly. Following successful trials in Malaysia, the Singapore-based company is now expanding into oil palms in Indonesia, Thailand, and India. Recognising the value of its innovative technology, the company explored various IA protection strategies such as patent protection and trade secret management to safeguard it, enabling the business to broaden its market presence.

Grace Chew, Technical Director and Co-Founder of Hydroemission said, “We registered a provisional patent as soon as we achieved the proof of concept. It is fundamental for us to seek patent protection as it protects our market from direct competition and facilitates technical collaborations with strategic partners.”

Protecting these IA can greatly bolster a company’s competitive advantage, setting it apart from its rivals in the market. It can help place a company in an advantageous position when looking to form and negotiate strategic collaborations and partnerships.

Consider home-grown irrigation firm Cisgenics, which has effectively optimised its IA to nurture strategic collaborations. With high-profile projects such as Gardens By The Bay, The Jewel, and Changi Airport Terminal 4 in Singapore, Cisgenics is a leader in their industry with over 43 years of experience in residential, commercial, and golf irrigation.

“Cisgenics has partnered with some of the biggest names in the industry. We bring to market a unique cutting-edge technology-driven irrigation system to owners and operators of golf courses, agribusinesses, and landscape properties globally,” said Sam Rebera, Director of Cisgenics.

Also read: YEAP partners with Sustainable Living Lab to support e-waste initiatives

“We are investing in new products and R&D. IP is critical to protect and capitalise our investment,” Yeo explained.

Moreover, IA protection creates formidable barriers for competitors looking to enter a specific market. Companies with strong and loyal customer relationships or a multi-layered protection strategy for their innovations are more resilient to new entrants. A robust IA protection strategy makes it challenging for competitors to replicate these assets.

Acez Sensing, a part of Acez Group, focuses on energy efficiency and long sensor life cycles with minimal maintenance, thereby providing customers with valuable and cost-effective temperature measuring solutions to achieve a green and sustainable practice in their operations.

AcezGroup is an excellent example of a Singapore-founded company that has achieved significant brand recognition and trust in its industry. Customers from overseas often inquire about their thermal sensing solutions, highlighting the value of the well-established brand.

“It’s pretty common that we have customers from overseas as far as Sri Lanka inquiring on CSA, ATEX/IECex certified explosion proof temperature sensors to be used in hazardous locations, as well as high accuracy temperature sensor for Energy Efficiency used in Chilled Water System,” said Amanda Yeo, Director of Acez Group of Companies. “The company has been around for more than three decades and the name has a certain value. It is important that we protect it for brand recognition and long-term success.”

Charting a course: Navigating the challenges of IA and IP protection

Registering IA and IP rights acts as a shield to safeguard a company’s innovations, creations, and processes. It is especially crucial for companies seeking collaborations and technology transfer. However, the process of registration can seem complex and overwhelming, particularly for those new to IA and IP.

The complexity of the process can vary depending on the industry and the nature of the innovation. Cisgenics is anticipating these potential difficulties as it finalises its product development before registering for IP protection. 

“There are multiples challenges we are facing to effectively protect our IP and gain a competitive edge in the market; key few ones are — building and sustaining a multi-discipline team to Identify what aspects of a new product can be protected by IP rights, the need to keep new products confidential while navigating the IP landscape, registering and maintaining IP rights can be expensive,” said Sam. 

Cost is another significant factor, particularly for businesses with many products and international presence. As most IP rights are only valid in the country where they are registered, businesses like Acez Group need to apply for registration in all the overseas markets it intends to target. Amanda emphasises the importance of engaging service providers knowledgeable about the company’s technology and industry to guide and support them effectively.     

“Cost is definitely one area,” Amanda added. “Another [challenge] area is that sometimes we don’t know which company or law firm specialises in the kind of product and industry that we are in.”

For many companies, one way to address challenges in IA/IP protection is through extensive research, examining your options, and then evaluating which protection strategy best suits your needs.

Also read: Five startups closer to bagging EUR100,000 in EQT Impact Challenge

“We allocated significantly more resources to prior art and patentability searches. Apart from internal research, we engaged with 2 other professional firms to conduct the analysis. With 3 different reports to cross-check,” shared Chew of Hydroemission. She added, “We are confident that we identified a patentable scope which we believe is inventive and robust.”     

Grace Chew’s account vividly illustrates the value of seeking specialised guidance. Similarly, Sam Rebera emphasised the significance of selecting the right service provider with a proper understanding of your technology and industry, considering the complexities and requirements of patent registration.

With GoBusiness IP Grow, businesses can avoid the pitfalls of wasted investments and frustration, while enjoying these free benefits: 

• Get personalised advice in less than 5 minutes. Use the e-Adviser for IP Service to identify the most relevant IA/IP services based on specific business goals. Use the e-Adviser for IP Service Provider to match with suitable IA/IP service providers based on IP needs and preferences.
• Choose the right service providers with confidence. Enterprises can compare and review eligible IA/IP providers that can meet their needs, across 20 specialised services. Detailed information on service providers is listed in their profile pages, including experience in a particular service area, hourly rates, and minimal project fee — metrics typically not available in other directory listings.

Get one-stop access to IA/IP-related resources, designed for every aspect of their innovation journey.

The importance of IA and IP cannot be overstated. By securing IP rights, businesses can chart a course for their business’s future, ensuring its longevity and success in the ever-evolving world. 

As Grace from Hydroemission said, “IP rights ownership…support the company’s stability and sustainability. It is also fundamental in driving growth as IP ownership gives strategic partners such as investors and collaborators confidence and assurance in working with us.”

IPOS International, a wholly owned subsidiary of the Intellectual Property Office of Singapore (IPOS), is conducting a special giveaway. Simply utilise the GoBusiness IP Grow e-Advisers and receive a $10 eCapitaVoucher as a reward. This rewards program is valid from now until the 31st of March 2024.

Here’s how you can participate: 

1. Simply use either the GoBusiness IP Grow e-Adviser for IP Service or the e-Adviser for IP Service Provider
2. Stay connected with us by filling in your contact information
3. Key in “e27 IP Grow” in the Source Code field and submit!

Limited to the first 500 unique users who fulfil the criteria. Terms and conditions apply. 

Embark on your journey of IP and let your business set sail towards success and growth. Visit GoBusiness IP Grow today!

– –

This article is produced by the e27 team, sponsored by IPOS

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.

The post Set sail with intellectual property: Your business’s journey to success appeared first on e27.