Ever imagined owning a fragment of the Eiffel Tower or perhaps a portion of a prestigious downtown skyscraper? It might seem like a flight of fancy, but what if it was as tangible as holding shares of major companies like Tesla?

With the growing buzz around real-world assets (RWAs) in sectors such as real estate, FinTech, precious metals, and even credit loans, such ownership notions are inching closer to reality. And thanks to blockchain technology, RWAs are redefining the way asset ownership is being perceived. 

RWAs represent genuine and concrete pieces of tangible assets encoded “on-chain” and made digitally trackable. According to Boston Consulting Group, the market for tokenising illiquid assets as RWAs could potentially reach up to US$16.1 trillion by 2030. 

Real estate’s digital evolution

Real estate has long faced challenges with intermediaries, costs and legal complexities.

Today’s landscape is transforming, with real estate emerging as a key sector for RWAs. They signify an evolution towards enhanced multi-jurisdictional efficiency and access. “With real estate tokenisation, properties transform into blockchain-enabled assets, simplifying transactions and expanding access. New forms of access include fractional ownership, allowing micro-investments among a larger market audience,” says Erik Ramos-Paice, Co-Founder and Partner of Taiboku Capital.

This advantage extends beyond operational ease, bringing a transparent renaissance in real estate deals. From the inception of smart contracts to the crescendo of digitised ownership transfer, important transactional metadata is etched onto blockchain networks for data integrity. 

Yet, every innovation has its maze. Nations are still crafting their legal RWA guidelines – from the asset’s nature to taxation rules and from AML standards to KYC compliance. International trading of tokenised real estate adds another layer, demanding synchronised compliance amidst diverse jurisdictions.

RWAs: A new era for precious metals

The precious metals sector has often been enshrouded in ambiguities related to provenance, ethical sourcing, and supply chain management. Now, the process of RWA tokenisation holds the potential to transform these industry problems into working solutions.

While this doesn’t necessarily simplify the physical movement of the assets, it allows for far more efficient trading in terms of their digital representations. This ensures diligent tracking of blockchain-based supply chains while preserving tangible asset value.

Recognising the transformative power of RWAs, Ramos-Paice states, “The precious metals industry is starting to emphasize mandated reports strongly. These reports, if generated with the help of RWA technologies, can add an additional layer of assurance and traceability for auditors.”

Also Read: Is the Philippine real estate market ready for the next wave of proptech?

In the backdrop of this evolution, supply chain platforms like EMCO Network are exploring the intersection of precious metals with blockchain and RWAs. These platforms, in their quest to prioritise transparency, aim to address long-standing industry challenges of authenticating the origins of mined gold sources. This ultimately aids in enforcing ethical supply chain practices, boosting verifiable accounting standards, and mitigating sophisticated fraud loopholes. 

When problems arise during the supply chain journey, companies can better pinpoint potential problems rather than trying to painstakingly trace back the source of error with legacy tracking systems. 

Compliance tech: A critical driver for RWAs

Merging tangible assets with digital counterparts demands a strong compliance framework. Consequently, this calls for a unified approach to ensure smooth global acceptance of RWAs – from both the legal and technological aspects.

Proper governance models are crucial when implementing RWA compliance. This can be achieved through a network of validators or a council of trusted members who collaboratively vote in the decision-making aspect of tokenised assets.

By adopting this approach, it heightens the transparency of how RWAs are transacted. Haven1, a purpose-built (EVM compatible) blockchain providing a secure environment for financial transactions, is one such example that empowers businesses with regulatory frameworks that bring in best practices from traditional finance. Equipped with the right governance tools, auditors and regulators gain improved access to data surrounding RWAs, streamlining enterprise-scale compliance efforts.

Unlocking this potential means deepening cross-jurisdictional communication among regulators. Beyond just dialogues, it involves shared regulatory workshops, collaborative sandboxes for testing products across borders, and education geared towards regulators. A unified digital platform for worldwide regulators could further streamline these interactions, ensuring a cohesive approach to RWAs.

Major shifts in global asset liquidity

RWAs are likely to play a pivotal role for enterprise businesses and their end customers. 

For businesses, RWAs are forecasted to provide operational efficiencies, open up new revenue avenues, and foster seamless global collaborations. Traditional sectors will likely witness rejuvenation as tokenisation strategies introduce novel means of asset management and trade.

Also Read: Early-stage proptech and contech investing: Who gets the VC checks?

On the consumer side, the implications are equally profound. RWAs could democratise asset ownership, allowing more individuals to tap into micro-investment opportunities that were once out of reach. This means that an array of assets, including fractionalised property or rare precious metals, could become more accessible – and hence liquid.

While the benefits are manifold, the intersection of traditional and digital assets also brings forth questions about emerging market dynamics and the practical synergy between the two realms. 

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Dear reader,

Investors in OpenAI, the creator of ChatGPT, are reportedly considering legal action against the company’s board following the abrupt removal of CEO Sam Altman, which has triggered concerns about a potential mass employee exodus.

These investors, who fear substantial financial losses, are consulting legal advisers to explore their options, although it remains uncertain whether they will proceed with a lawsuit. The situation escalated after Altman’s dismissal on the grounds of a “breakdown of communications,” leading over 700 employees to threaten resignation unless the board was replaced.

OpenAI’s unique structure, with Microsoft holding 49% and employees controlling 49%, poses challenges for traditional investor influence. The nonprofit parent company, OpenAI Nonprofit, was designed to prioritise humanity over investor interests. Legal experts note that nonprofit boards have obligations, but the structure provides considerable leeway for leadership decisions.

Even if investors pursue legal action, the case is perceived as weak, as companies typically enjoy broad latitude in making business decisions. OpenAI’s unconventional structure, established in 2019, seeks to balance capital raising while maintaining its core mission and governance.

The unfolding scenario highlights the intricate dynamics within organisations navigating the intersection of technology, finance, and mission-driven objectives.

Sainul,
Editor.
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Funding for Philippine startups sees 40% decline in 2023: report
The Gobi-Core Philippine Fund report also featured a survey involving 33 founders with running startups in the Seed to Series C stages; Around half of their startups have hit breakeven, taking an average of four years to achieve the feat.

Sam Altman joins Microsoft as OpenAI names its third CEO in 3 days
Greg Brockman, another co-founder of OpenAI, is also joining Microsoft, OpenAI’s biggest financial backer; They will be joining Microsoft to lead a new advanced AI research team.

Sam Altman won’t return as OpenAI’s CEO after all
Altman’s removal threatens to worsen an already precarious situation for OpenAI, whose board faces pressure from all sides to change course after firing Altman with little input from some of its largest stakeholders.

Chaos at OpenAI adds fuel to the AI talent poaching war
As chaos at OpenAI and Microsoft, where Altman is headed now, continues, companies like Anthropic, Mozilla or Patronus AI could be attractive to employees seeking stability. The upshot? OpenAI employees could scatter to other companies or follow Altman.

OpenAI investors considering suing the board after CEO’s abrupt firing
Investors worry that they could lose hundreds of millions of dollars they invested in OpenAI with the potential collapse of the hottest startup in the rapidly growing generative AI sector.

Velocity Ventures backs Spanish microstay startup ByHours for Asia expansion
ByHours offers users a global platform to book short stays in over 4,000 partner hotels for 3, 6, and 12 hours; The startup claims to have over 300K users and has sold more than one million hotel hours.

ByteDance’s revenue in Q2 surpassed Tencent
The TikTok owner is threatening the long-established positions of China’s traditional “big three” tech firms – Baidu, Alibaba, and Tencent – with US$29B in revenue and 40% YoY revenue growth in Q2 2023.

How Radiant1 helps hotels optimise room rate pricing in real time, maximise revenue
Radiant1’s USP lies in its ability to synthesise multiple datasets and turn those into actionable recommendations and automated action.

Startups soar: Pawprints Inspired, Upworth, BeeX raise funding
Pawprints Inspired raises US$1.7M, Upworth secures funding, BeeX closes US$2M round, RISE summit, Indonesia’s VC Trends, and more.

How NSG BioLabs aims to nurture biotech innovation in Singapore and beyond
NSG BioLabs, along with NSG Ventures, aims to play a pivotal role in supporting biotech companies in navigating unique challenges.

‘US has access to more alternative funding sources than Europe, Asia’
‘We will continue to work closely with Singapore-based startups to help them launch and expand their presence in the US’: Christian Koschil, Acting Senior Commercial Officer, US Department of Commerce, US Embassy, Singapore.

Global Web3 companies on why Asia Pacific is the future of the industry
These Web3 companies are sharing how they view the Asia Pacific market –and why they believe in its potential for the future.

For ID’s 2nd generation unicorns, global expansion is the name of the game
When it comes to producing unicorn startups, Indonesia has done a phenomenal job in a relatively short time.

TiE Global Summit 2023: Connecting Singaporean startups to the world
To help Singaporean startups tap into this promising landscape, TiE Global is hosting the TiE Global Summit (TGS) 2023 in Singapore.

A paradox I face as a father and a corporate venture builder
The age-old parenting paradox of holding tight and letting go holds true for corporate venture builders aligning corporates and ventures.

Depression was the best thing that happened to me as a founder. Here’s why
Founders are 6-11 times more likely to suffer from mental conditions, depression and substance abuse, according to studies.

Money on the move: The key to making dynamic travel payments simple
In a world where travel is a cherished aspiration and digital payments are crucial, simplicity, security, and convenience take precedence.

Impulse buying dominance: Scarcity-induced sales in live-stream commerce
In live-stream commerce, scarcity-induced promotions are a potent tool wielded by streamers to manipulate emotions and drive impulse buying.

The 5-part agile leadership guide that will make you a better business leader
Embracing different voices helps leaders develop an all-rounded leadership style that resonates with the diverse millennial and Gen-Z workforce.

Decoding startup financing: Why pre-money SAFEs are founders’ best bet
Founders who prioritise maintaining ownership and control over their ventures should consider the benefits of pre-money SAFEs.

Leadership mindset: The key to driving real estate digital transformation?
Digital transformation is crucial for real estate in the 4.0 era, playing a key role in balancing cost, time, and transaction quality.

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Image credit: Wikipedia.

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As the use of GenAI tools becomes more widespread, with its potential to be used in the fast-moving consumer goods (FMCG) industry, Myanmar-based startup Base Technology is making waves with its generative artificial intelligence (GenAI) solution Magicsnap.

This technology aims to transform consumer engagement and create personalised experiences that set brands apart in an increasingly competitive market.

Swan Htet Aung, Managing Director of Base Technology, in an email interview with e27, sheds light on the company’s mission, stating, “Consumer engagement is getting more challenging and expensive, as brands compete for a share of consumers’ attention in an increasingly fragmented world. To achieve top-of-mind brand recall, marketers are turning to GenAI. GenAI technology’s ability to generate content from simple text prompts and other visuals enables marketers to deliver new consumer experiences.”

According to Gartner, 63 per cent of marketing leaders plan to invest in GenAI in the next 24 months, and Base Technology aims to be at the forefront of this trend. Their flagship product Magicsnap is a GenAI-powered solution that allows customers to generate AI avatars from a single selfie effortlessly. This technology goes beyond basic online interactions, turning customers into brand ambassadors in different virtual worlds, such as historical, anime, and Hollywood settings.

What sets Magicsnap apart is its unique training dataset. Unlike other image AI models trained with generic stock footage, the company said that Magicsnap’s image AI model was trained with 200,000 images from Southeast Asia (SEA).

Also Read: How Transparently.AI uses Artificial Intelligence to detect accounting manipulation, fraud

This approach enables the system to identify cultural nuances, including traditional outfits and facial features, making it culturally representative and sensitive to end-consumers. Magicsnap has generated around 100,000 traditional outfits for 40,000 people, demonstrating its ability to cater to diverse cultural preferences.

Aung shares an example of a successful campaign where customers could leverage Magicsnap to select a suitable traditional outfit based on their facial features and the nature of the event they intended to attend. The GenAI model successfully matched customers with Burmese and Cambodian traditional outfits, bringing delight to the clients’ customers and showcasing the technology’s versatility.

Since its launch in 2016, Base Technology has developed two successful products – Expa.AI, a large language model for building chatbots, and Magicsnap. The company has empowered over 1,000 small businesses and more than 30 enterprises in SEA, engaging more than four million customers through 100 million conversations.

Aung states, “This generates billions of data points, and we are working to migrate our data to AWS to leverage AWS’s broad portfolio of storage solutions for its reliability, security, and performance.”

Magicsnap alone has generated more than US$40,000 in revenue within the first two months of its launch in July 2023. Aung notes the cost efficiency achieved since migrating to AWS and mentions ongoing collaborations with brands in Cambodia, Laos, Thailand, Bangladesh, and Myanmar.

Also Read: These Artificial Intelligence startups are proving to be industry game-changers

Base Technology’s collaboration with AWS has been instrumental in their success. Aung how AWS SageMaker has enabled faster fine-tuning of diffusion models by 30 per cent and reduced the cost of inference by 40 per cent. This efficiency allows Base Technology to bring solutions to market swiftly and cost-effectively.

The company also benefited from the AWS GenAI Reactor program, receiving AWS credits and mentorship on generative AI from industry experts.

Looking ahead, Base Technology aims to roll out the first-ever multimodal model trained with major SEA languages in 2024.

Aung emphasises the importance of supporting local languages for businesses in the region, stating, “For domestic companies building GenAI applications for their business in SEA, an English-only multimodal model wouldn’t help to give them the right head start. Businesses cannot use one model for all.”

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Image Credit: Base Technology / Magicsnap

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Turn Capital, the family office of 17LIVE’s co-founder and non-executive chairman Joseph Phua, has acquired the Thai business of the tech-enabled coffee chain Flash Coffee, a source privy to the development told e27.

The transaction details are not known.

Turn Capital plans to expand Flash Coffee’s presence across Thailand, with a plan to open more than 100 new stores in the next two years, as per a statement. This will bring the total number of locations in the country to over 200.

Also Read: ‘Companies shut down not because of crises but only when founders give up’: Joseph Phua of M17

Launched in 2020, Flash Coffee serves a menu of quality drinks curated by World Barista Champions across Asia. Customers can use the Flash Coffee app to order and pay online, choose to pick up orders from one of its yellow storefronts, or order for delivery through the app or major delivery platforms in each market.

The coffee chain operates over 200 stores in four markets across Asia Pacific — Indonesia, Thailand, Hong Kong, and South Korea.

Last month, it was reported that the company shut down all 11 stores across Singapore to “further consolidate” future efforts on fewer markets as it aims to build a profitable and sustainable business.

In May this year, Flash Coffee announced the completion of its US$50 million Series B financing round led by White Star Capital. Existing investors, including White Star Capital, Delivery Hero, Geschwister Oetker, and Conny & Co, participated in the round.

Turn Capital invests in consumer, technology, media and telecom companies across Asia. The firm typically acquires controlling stakes, which allows its team of experienced operators and investors to take a hands-on approach to each investment.

According to Shang Koo, Partner of Turn Capital, the invest will partner with Flash Coffee’s management team to bring the tech-driven brand to profitability and grow the company over the next few years.

Also Read: Joseph Phua’s Turn Capital acquires Dapp Pocket to create SEA-focused retail crypto exchange

Turn Capital was launched in 2020 by Joseph Phua, former CEO of 17LIVE, where he built the business from US$2 million annual revenue to over US$400 million in annual revenues, and a market leader in Japan and Taiwan. He ran Turn Capital’s unique investment strategy and controlled a portfolio of companies in the technology and consumer sectors with a combined valuation of over US$1 billion.

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Image Credit: Flash Coffee.

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Before the COVID-19 pandemic outbreak, hotelier Apichai Sakulsureeyadej stepped in to help his family oversee the hotel business and understand the lack of data usage in crucial decision-making processes. A serial entrepreneur who spent the last two decades in big data, Sakulsureeyadej quickly realised that hotels, like the airline industry, might earn more revenue with dynamic pricing.

“A hotel’s core revenue source is room bookings. I experimented with the use of multiple data sets to influence room pricing. This led to a visible uplift in the business’s revenue,” he shares.

That motivated him to start Radiant1.

Also Read: Radiant1 raises funding for its AI solution that helps hotels maximise revenue

Incorporated in Singapore in 2019, Radiant1 has developed an AI-powered SaaS solution that assists hotels in maximising revenue. The tool uses machine learning algorithms to analyse factors, including real-time demand, types of properties, and travel behaviour, to provide optimised room rate pricing on a real-time basis and maximise total revenue for the customer. It leverages both external and internal data and analyses it multi-dimensional.

“Many factors influence the hotel industry, such as seasons, events, holidays, economy, etc. Radiant1 automates the ability to understand how each factor affects demand. As a result, it can decide which combinations would be most effective to determine the right price,” he adds.

Estimates show that the Asian hotel market is nearly US$200 billion annually in transaction volume. On average, each hotel faces an opportunity loss of more than 30 per cent when not using revenue management.

“Nearly 90 per cent of hotels in Southeast Asia don’t use any form of revenue management. They believe in having basic operational technology, such as reservation/check-in management, and working with online distribution. They have generally not yet digitised their operation, unlike the airlines,” he reveals.

“On the other hand, chain-managed hotels in the West widely use revenue management, yielding higher revenues. Radiant1 believes that every hotel should have revenue management as a mandatory tool,” he remarks.

According to Sakulsureeyadej, Radiant1’s USP lies in its ability to synthesise multiple datasets and turn those into actionable recommendations and automated action to set pricing and recommend the channels for sales of room nights. This helps in automating how hotels are priced and distributed.

The startup has introduced a flexible pricing scheme with monthly fixed fees and variable charging models based on the customer’s needs.

The company says it has assisted all types of properties to optimise their revenues while keeping an eye on their bottom line. Its customers include hotels with global chain brands, independent and boutique hotel chains, hotel management companies, and short-stay operators.

Post-pandemic, Radiant1 claims to have seen robust growth; the business has grown manifold since mid-2022, coinciding with the widespread reopening of borders. In addition to its presence in Thailand, it expanded its footprint into Malaysia and Indonesia.

The startup recently raised an undisclosed sum in a pre-Series A round anchored by Monkʼs Hill Ventures to double down in the existing markets, expand into new Asian countries, hire additional tech resources, and expand the product suite.

Also Read: How can you build a living, thriving community around your SaaS product?

“We plan to further penetrate into our existing markets, such as Indonesia, Malaysia, and Thailand, by growing the sales team and growing the cities we target in each country,” he adds.

Radiant1 has also begun experimenting with Generative AI to hyper-personalise customer engagement. “We strongly believe that a much deeper understanding of customer behaviour to build personalised offerings can lead to higher revenues. It is equally important to understand demand. Often, they go hand in hand. Radiant1 is on a mission to build technology that obtains and uses these relevant data to optimise different parts of the hotel, eventually leading to better revenue,” he notes.

While Generative AI is the future, he believes that Generative AI needs to be regulated by ethical standards. “We need to adhere to the guidelines of the Personal Data Protection Act. It is a good start while combining it with a more comprehensive approach.”

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Image Credit: Radiant1.

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Barcelona-based microstay booking platform ByHours has secured an undisclosed sum in strategic investment from Singapore-based Velocity Ventures for Asia expansion.

Guillermo Gaspart and Christian Rodriguez founded ByHours to challenge and transform traditional booking systems in the hotel industry. The company provides a global platform for users to book short stays in over 4,000 partner hotels, with durations of 3, 6, and 12 hours.

It offers a flexible ‘pay-per-use’ model with a 24-hour check-in option. This model accommodates travellers who only pay for the required hours, making it suitable for those seeking a brief rest or experiencing a short layover without an overnight stay.

Also Read: Velocity Ventures launches programme to connect corporates with startups for co-investment opportunities

ByHours has established microstay partnerships in 25 countries, collaborating with independent 3, 4, and 5-star hotels, including Hyatt, Sheraton, Crowne Plaza, Best Western, Accor Hotels, and NH Hotels.

“ByHours will prioritise collaboration with travel agencies, corporations, and online travel agencies and establish symbiotic relationships as a bed bank for microstays. By extending our channel distribution with B2B partners that want to cross-sell micro stays with their own offerings, we can optimise revenue for our hotel partners,” said Gaspart.

The startup claims to have over 300,000 users and sold more than one million hotel hours, resulting in a turnover of over 20 million euros (US$2.183 million) for the hotel industry.

The company employs 30 people across its Spanish and Mexican offices.

The firm previously raised 12 million euros (US$1.309 million) from angels, DILA Capital, and Howzat Partners.

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

Image credit: BYHOURS

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edamama, an online-to-offline (O2O) parenting platform in the Philippines, has closed its Series A+ funding round, led by the Ayala Corporation Technology Innovation Venture (ACTIVE) Fund.

Existing investors Kickstart Ventures, Gentree Fund, and Innoven Capital participated alongside new investor South Korea’s GS Group.

Also Read: Alpha JWC leads Filipino parenting e-commerce startup edamama’s US$20M Series A round

The new round brings the startup’s total capital raised to date to over US$35 million.

The newly raised capital will fuel edamama’s expansion strategy, intensifying its offline retail footprint across the Philippines. Following pilot pop-up stores in Robinsons Magnolia and Robinsons Manila malls, the company plans to launch a new store at Ayala Vertis North before year-end.

edamama Co-Founder Nishant D’Souza said that the company will strengthen its collaboration with the Ayala ecosystem with this investment, especially to unlock further synergies across the Ayala Malls network as it expands its physical stores nationwide next year. “This funding will accelerate our offline roll-out and private label product development, providing even more value and accessibility to our customers wherever they choose – online or offline.”

Along with the investment deal, edamama announced four key appointments: Miguel Fernandez to the Board of Directors, Rohan Aggarwal as Chief Commercial Officer, Rachit Gupta as Senior Commercial Director, and Donna Manalastas as Offline Retail Director.

“We have made great strides in scaling our operations while improving unit economics over this past year. These appointments will further bolster our goal of delivering an industry-leading experience for parents in both the digital and physical retail worlds,” said Bela Gupta D’Souza, Co-Founder of edamama.

Also Read: Innoven Capital backs millennial mothers-focused Philippine e-commerce startup edamama

edamama is a digital-first parenting platform providing parents essential resources, products, and community support. Its mission is to empower parents and caregivers by offering a wide range of curated products and services that cater to the unique needs of families.

Since its launch in 2020, the platform claims to have delivered over 3.5 million products to families across the Philippines.

In August 2022, edamama announced a US$20 million Series A funding round led by Alpha JWC Ventures.

The post Ayala-backed ACTIVE Fund leads edamama’s Series A+ financing round appeared first on e27.

Join the 2024 TOP100 program here!

With the TOP100 program returning in full swing this 2024, the most innovative startups from across Southeast Asia once again stand the chance to vie for the top prize, gaining not only recognition and accolades but also the unique opportunity to earn mentorship, business matching, and investments. The upcoming program will have a growth focus, meaning, that startups currently in the growth stage seeking to grow and expand their business are all qualified to take part in the competition.

Over the years, TOP100 has broadened its scope to encompass various facets of the startup landscape, reflecting the dynamic nature of the entrepreneurial ecosystem. In addition to its core function of identifying and supporting promising startups, the program has taken on a multifaceted approach to startup growth, incorporating elements such as mentorship programs, educational initiatives, and networking events. These components collectively contribute to the holistic development of startups, providing them with not just financial support but also the knowledge, guidance, and connections essential for sustained growth.

Addressing common challenges faced by growth-stage startups

Growth-stage startups committed to sustainable growth often grapple with a distinct set of challenges, with one prominent hurdle being the scarcity of opportunities for mentorship. Unlike early-stage startups, growth-stage companies require guidance tailored to their specific challenges, which may include scaling operations sustainably and navigating complex market dynamics.

Unfortunately, there is a dearth of mentorship opportunities tailored to the specific needs of growth-stage startups that may hinder their development, particularly when it comes to access to strategic insights necessary for navigating the unique challenges associated with sustainable growth.

Also read: Evolving startup growth: TOP100 in 2024 is tailored to your growth journey

In addition to the mentorship gap, growth-stage startups pursuing sustainable growth frequently face difficulties in accessing relevant business matching opportunities. Networking and collaboration are pivotal for expanding market reach and forming partnerships that align with their sustainability goals. However, the lack of platforms that facilitate connections between these startups and like-minded businesses, investors, or potential collaborators can impede their ability to forge mutually beneficial relationships. When coupled with a lack of access to reputable investors, growth-stage startups may find it difficult to explore growth opportunities.

With this in mind, the TOP100 program strives to tackle the challenges faced by growth-stage startups by providing a comprehensive support ecosystem. Through TOP100, startups gain access to a network of seasoned mentors with expertise in growth strategies. The program also facilitates targeted business matching opportunities, connecting startups with like-minded businesses, investors, and potential collaborators. By creating a platform that fosters meaningful connections, TOP100 enhances the startups’ ability to form partnerships aligned with their specific goals.

Additionally, TOP100 actively engages with impact-focused investors, increasing the likelihood of securing investments for startups committed to sustainable growth. As such, the TOP100 program can be a game-changer for growth-stage startups, fostering mentorship, facilitating strategic connections, and bridging investment gaps.

Criteria for the 2024 TOP100

In its relentless pursuit of fostering impactful growth and market access for startups, e27 has meticulously refined its criteria for the 2024 TOP100 program to align seamlessly with the mission of expediting market access and growth through the utilisation of e27’s influential media presence and expansive networks. The revised criteria underscore the program’s commitment to identifying and nurturing startups positioned for success in the dynamic Southeast Asian landscape.

The first criterion, Stage, places a spotlight on early and mid-growth stage startups, encompassing a diverse spectrum from bootstrapped ventures to those post-Series B funding. This deliberate inclusivity acknowledges the varied trajectories of startups and ensures that promising ventures at different stages of development can benefit from the program. The emphasis on startups with products that have not only launched but have also garnered a customer base reflects a strategic focus on tangible market validation and user adoption.

Also read: IN PHOTOS: The premier edition of e27’s Flux Series

The second criterion, Revenue & Product, underscores the centrality of technology in the core product or service offered by startups. Whether the innovation lies in software or hardware, this criterion underscores e27’s commitment to supporting startups that are at the forefront of technological advancements. By prioritising revenue-generating startups, the program ensures a practical orientation toward sustainability and market viability.

The third criterion, Country or Sector, broadens the geographical and sectoral scope of the program. It welcomes startups based and/or operating in Southeast Asia, recognising the region’s vibrant and diverse entrepreneurial landscape. Additionally, the program extends its support to overseas startups keen on entering the Southeast Asian markets, fostering a global perspective and encouraging cross-border collaborations. This criterion not only acknowledges the interconnectedness of the global startup ecosystem but also positions TOP100 as a gateway for international startups seeking to establish a presence in Southeast Asia.

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 Things you need to know to be a part of the 2024 TOP100 program appeared first on e27.

A recent interview with Daphne Teo, founder and CEO of NSG Ventures and NSG BioLabs, sheds light on the current trends and the promising future of biotech in Southeast Asia, particularly in Singapore.

During a visit to NSG BioLabs’ facility, Teo explains to e27 the challenges faced by biotech companies in Singapore today.

When it comes to funding, for example, she states that the industry is currently facing a downturn, as with most verticals in the tech industry. But this trend works in a cycle, and there is definitely an upturn; investors are still active but are becoming more discerning in their choices.

“People say that there is a [funding] drought in Singapore. That is not really a drought, though, as there are people who are still investing. It is just that they are more picky about what kind of investment, team, and company they want to invest in.”

Beyond funding, biotech companies face challenges in talent acquisition and infrastructure. Teo highlights the scarcity of scientists globally and the lack of suitable laboratory spaces. “Scientists are generally hard to find in many countries … Regarding infrastructure, there was really no space for any biotech to start getting. They have to build their own or create makeshift office space, which is not ideal because of contamination issues.”

Also Read: Meet the 10 Thai startups showcasing at AgBioTech Incubation demo day

Investing in biotech differs significantly from other tech verticals, as it focuses more on the quality of innovation rather than immediate scalability. Teo explains that investors seek groundbreaking technologies, especially those addressing critical medical needs. “Because, in the end, it is about how many patients they are going to save.”

NSG BioLabs and NSG Ventures play a pivotal role in supporting biotech companies and entrepreneurs in navigating these challenges.

Situated in Biopolis, Singapore’s biomedical research hub, NSG BioLabs offers certified BSL-2 wet lab and office coworking spaces, providing state-of-the-art equipment and turnkey operations across 35,000 sq ft.

Teo underscores the importance of creating an ecosystem that supports life sciences companies at every stage, from research to breakthrough innovations.

The distinction between BSL-1 and BSL-2 labs further emphasises NSG BioLabs’ commitment to safety and efficiency. BSL-2 labs allow the handling of pathogenic microorganisms, which is crucial for biotech companies in the research phase or pre-clinical trials.

Also Read: Singaporean biotech startup Automera secures US$16M Series A financing

Launched in 2019, the coworking space also serves as a hub for contract research organisations (CROs), streamlining processes and reducing costs for biotech companies. Teo notes, “Most coworking spaces will have startups or investors by the same facility; we actually have the CROs right here, side-by-side with the biotech companies. And that’s actually very valuable.”

Success stories from NSG BioLabs highlight the significance of partnerships with big pharma companies. Teo explains how biotech companies, adept at rapid research, can collaborate with big pharma for clinical trials, a traditionally slow and capital-intensive process for large pharmaceutical companies.

Some examples of success stories from NSG BioLabs include Engine BioScience (which has recently secured a US$43 million funding round), ImmunoScape (which is studying how T cells of the immune system respond to fight COVID-19), and Acumen Diagnostics (which is behind the Singapore-made PCR kits that are able to detect both Omicron and Delta variants of COVID-19 viruses).

Looking ahead to 2024, NSG BioLabs plans to expand further and add more companies to its portfolio. Teo attributes their success as the “partner in the infrastructure of choice” to their understanding of the biotech landscape.

“We are biotech founders ourselves, we know what the process is like, how scientists want to work. We’re not like contractors who just kind of build it. We basically design a perfect lab for them to work, do their work processes.”

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Images Credit: NSG BioLabs

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I’m always surprised by the statistics about electronic waste (e-waste) and how little is understood about this critical environmental issue. A recent study of Gen Z and Millennials found that 60 per cent of adults don’t know what e-waste is, and 57 per cent didn’t realise these items contribute to pollution.

E-waste is anything with a plug, battery or cable – electronics that have reached the end of their useful lives. Every year, we recognise International E-Waste Day on Oct. 14, an annual campaign to raise awareness about the growing problem of e-waste and promote responsible e-waste management.

We often talk about environmental issues associated with this growing waste stream, but when I think about e-waste, I see an opportunity. As product design engineers, my team makes our technology more sustainable by incorporating materials with reduced carbon emissions. This could be a sustainable material like recycled carbon fibre or one produced with renewable energy like our hydropower aluminium.

At Dell, a lot of thought and research goes into the materials we choose and the processes we use to manufacture them. To help stem the flow of e-waste, we go “back to the future” and strive to design to extend product life and more easily access components for recyclability.

Our commitment to circularity

At Dell, we are committed to keeping materials in use longer, and our 2030 goals span the full lifecycle of our products — from design through manufacturing, shipping and recovery:

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

• For every metric ton of our product customers buy, we will reuse or recycle one metric ton.
• We will make 100 per cent of our packaging from recycled or renewable material or will utilise reused packaging.
• We will make more than half of our product content from recycled, renewable or reduced carbon emissions material.

The opportunity in e-waste

Our recovery and recycling services support e-waste reduction and also provide a valuable stream of materials that can be repurposed or recycled for use in new products.

Since 2007, Dell has recovered more than 2.5 billion pounds of used electronics. If a product reaches end-of-life and repair or reuse is not possible, we employ closed-loop strategies, where applicable, to create new products by recycling select materials from out-of-use technology.

In 2014, we pioneered the use of closed-loop plastics from recovered technology, and we also used closed-loop rare earth magnets and aluminium.

Bottom line – to meet our goals and increase sustainable and recycled materials in our technology, we need more products returned so we can harvest more materials. We can all help by emptying our closets and cabinets and returning old electronics.

Dell makes it convenient and secure to return and recycle end-of-life electronics and accessories. In addition to reducing e-waste, you are also extending the life of materials that can be scaled into new products.

We have made good progress but still have a lot of work ahead to achieve our goals, and it will take all of us working together to drive a more circular economy. Visit Accelerating the Circular Economy for more information.

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The post Embracing sustainability: A circular design perspective on e-waste appeared first on e27.