Singapore-based digital mental health company ThoughtFull has raised US$4 million in an oversubscribed pre-Series A funding round.

Temasek’s wholly-owned healthcare entity Sheares Healthcare Group led the round. Returning investors Vulpes Investment Management and The Hive Southeast Asia, founding members of Grab and Zalora, and global private family offices also joined.

The startup will use the funds to scale its business across Asia further and deepen its product offering across the end-to-end spectrum. The company plans to conduct clinical research to provide more Asia-focused insights for personalised mental healthcare.

Also Read: How mental health startup Intellect’s founder catalysed his personal battle with anxiety

ThoughtFull’s digital platform, ThoughtFullChat, aims to address the challenges faced by traditional mental health systems. It offers self-care resources, such as personalised content, progress-tracking tools, and professional support through video calls and text-based mental health coaching.

Each wellness tool on ThoughtFullChat is curated and verified by mental health professionals or global experts in these fields.

In 2022, ThoughtFull partnered with insurers such as AIA Malaysia to provide their corporate customers with end-to-end mental health support. It also runs similar propositions with FWD to scale affordable mental healthcare across Hong Kong and Thailand.

ThoughtFull claims its revenue has grown 30x since the launch. The platform’s mental health professional network has grown to 57 locations across Asia, and its user base now covers 95 locations worldwide.

Joan Low, Founder and CEO of ThoughtFull said: “Building on the work we do with healthcare professionals, employers, and insurers, we are yet another step closer to realising our vision to empower everyone to make mental health a priority every day by bringing seamless end-to-end care to all.”

—

The post Temasek unit leads US$4M pre-Series A round of digital mental health firm ThoughtFull appeared first on e27.

As the global crypto industry continues to grapple with increasing regulatory scrutiny and clampdowns, new hubs for the virtual asset industry are emerging. One such emerging hub is Hong Kong, which recently proposed rules allowing retail investors to trade certain “large-cap tokens” on licensed exchanges, contrasting mainland China’s outright ban on crypto-related transactions.

Based on what I know, The Securities and Futures Commission of Hong Kong has not yet specified which large tokens would be allowed. Still, industry insiders speculate it would likely be Bitcoin and Ether, two of the biggest digital assets by market value.

While China’s clampdown on crypto trading was intended to protect individual investors from speculative activity, the increasing number of bankruptcies and layoffs in the global crypto industry may have justified their actions.

Nevertheless, the crypto industry continues to attract talent and investment, making it hard to imagine Beijing sitting idly while the rest of the world develops new building blocks that could potentially spark a new wave of innovation as big as the current internet itself.

China’s crackdown on crypto trading has led many of its web3 startups to look abroad, with many of them setting up new bases in more crypto-friendly locations like Singapore and Dubai. However, with Hong Kong’s introduction of a more relaxed regulatory environment for cryptocurrencies, some Chinese-founded web3 companies in exile may consider returning home to Hong Kong.

Hong Kong has a long history as a financial hub and can potentially be a laboratory for China’s policymakers to test out blockchain’s potential with some buffer for the nation’s one billion netizens. The city’s proposal stipulates that all centralised virtual currency exchanges operating in the city or marketing services to the territory’s investors must obtain licenses from the securities and futures authority.

The proposed requirements cover key areas such as safe custody of assets, know-your-client, conflicts of interest, cybersecurity, accounting and auditing, risk management, anti-money laundering/counter-financing of terrorism, and prevention of market misconduct.

In addition to ensuring suitability in onboarding clients and token admission, the other key proposals relate to token due diligence, governance, and disclosures.

Also Read: IMF calls for cryptocurrency regulation to ensure financial stability

In other words, centralised crypto exchanges must ban Hong Kong IP addresses until they obtain the relevant permits to operate in the city. The regulatory requirements are currently open for consultation until March 31, and the new licensing regime will take effect on June 1.

This move by Hong Kong is strategic, and it can attract crypto companies and investments to the city. Implementing clear regulatory frameworks would help the industry gain mainstream adoption and bring in more institutional investors.

The crypto industry has come a long way since the inception of Bitcoin over a decade ago. With the emergence of DeFi (Decentralised Finance) and NFTs (Non-Fungible Tokens), the industry has grown significantly, and this growth is expected to continue. However, to achieve its full potential, it needs to address its regulatory concerns.

The introduction of clear regulatory frameworks can help crypto companies gain mainstream acceptance, bring in more institutional investors, and pave the way for new and innovative use cases for blockchain technology. Hong Kong’s move towards a more relaxed regulatory environment for cryptocurrencies is a significant step in the right direction, and I hope that other countries will follow suit.

AML crypto regulations in Hong Kong

The Legislative Council passed the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (AML/CTF Amendment Bill 2022) on December 7, 2022. This bill introduced a licensing regime for virtual asset service providers (VASPs) and imposed anti-money laundering (AML), counter-terrorism financing (CTF), and investor protection obligations upon these actors.

VASPs that are licensed in Hong Kong are subject to a number of AML, CTF, and investor protection obligations. These include:

• Customer Due Diligence (CDD): VASPs must conduct CDD on their customers, which includes identifying and verifying the identity of the customer, the beneficial owner, and any other person who exercises control over the customer. VASPs must also assess and understand the nature and purpose of the business relationship with the customer.
• Ongoing monitoring: VASPs must monitor their customers’ transactions on an ongoing basis to ensure that they are consistent with their knowledge of the customer, the customer’s business, and the risks associated with the customer.
• Record-keeping: VASPs must maintain adequate records of their customers, their transactions, and their risk assessments. These records must be kept for a period of at least five years.
• Reporting: VASPs are required to report suspicious transactions to the Joint Financial Intelligence Unit (JFIU) of Hong Kong. Suspicious transactions include those that are inconsistent with the customer’s profile, those that have no apparent economic or lawful purpose, or those that involve the proceeds of crime.
• Investor protection: VASPs must also put in place measures to protect their customers’ assets. This includes measures such as segregation of customer assets from the VASP’s own assets and insurance against losses.
• Penalties for non-compliance: VASPs that fail to comply with the new regulations are subject to a range of penalties, including fines, suspension or revocation of their license, and criminal liability. Individuals who are found guilty of money laundering or terrorist financing may face imprisonment of up to 14 years and fines of up to HK$5 million.

The new regulations also provide for the imposition of sanctions by the United Nations Security Council or by Hong Kong in respect of breaches of international sanctions.

Licensing and registration requirements for VASPs in Hong Kong

Anyone who engages in a virtual asset exchange business in Hong Kong must apply for a license with the SFC. The AML/CTF Amendment Bill 2022 also introduced regulations for VASPs to comply with the Crypto travel rule.

Also Read: Singapore’s new payments law is a boon for the crypto community

The HKMA will only grant licenses to VASPs that meet certain criteria, including:

• The company must be incorporated in Hong Kong.
• The company must have a permanent place of business in Hong Kong.
• The company must have adequate financial resources.
• The company must have appropriate AML/CTF systems and controls in place.
• The company must have a compliance officer responsible for ensuring the company’s compliance with the new regulations.

VASPs that fail to obtain a license will be prohibited from providing virtual asset services in Hong Kong.

Complying with the crypto travel rule in Hong Kong

The crypto travel rule will be effective in Hong Kong as of June 1, 2023. The new regulatory regime will provide industries with a grace period to prepare for compliance until that date. In Hong Kong, Travel Rule requirements apply regardless of the transaction amount.

The scope of data to be exchanged varies depending on the threshold of the transaction. For virtual assets that amount to HK$8,000 or more, the following information needs to be shared: name, account number, and address of the originator, as well as the beneficiary’s name and account number. For virtual assets that amount to less than HK$8,000, only the name and account number of the originator and beneficiary are required.

There are no differences in customer personally identifiable information (PII) requirements for cross-border transfers and transfers within Hong Kong. However, for wire transfers, the information recorded must include the number of the originator’s account or a unique reference number assigned to the wire transfer by the financial institution.

Non-custodial or self-hosted wallet transactions do not have any specific requirements in Hong Kong. The AML/CTF Amendment Bill 2022 defines virtual asset transfers subject to Crypto Travel Rule requirements as transactions for transferring virtual assets carried out by an institution on behalf of an originator, with a view to making the virtual assets available to the originator or another person at an institution, which may be the ordering institution or another institution.

In conclusion, Hong Kong’s proposal to allow retail investors to trade large-cap tokens on licensed exchanges is a significant development for the global crypto industry.

While China’s crackdown on crypto trading was aimed at protecting individual investors from speculative activity, the regulatory framework proposed by Hong Kong is more relaxed and can potentially attract more crypto companies and investments to the city. The implementation of clear regulatory frameworks would help the industry gain mainstream adoption and bring in more institutional investors.

I am looking forward to seeing a striking balance between the both.

–

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 Pro

The post Hong Kong introduces regulatory measures for crypto trading platforms to enhance security appeared first on e27.

Lisa Gibbons is a passionate storyteller with over 15 years of experience. She writes for numerous publications and is the co-founder of the Irish Shebeen, the first Irish Pub in the metaverse. She has a love for all things blockchain, the metaverse and sustainability.

Most recently, she spoke at the Women in Technology series in London about the future impact of NFTs. She was awarded runner-up in the hacker noon contributor for climate change for 2022. She worked on bringing the leading Web3 projects and impact investors together to discuss the opportunities for creating a greener future.

Gibbons also founded Orchardsnearme.com, a platform dedicated to wild food foraging and sustainable food distribution and is a member of The Writing Studio, a platform dedicated to improving storytelling in Web3. 

Her interest lies in bridging the world of Web2 to Web3.

Gibbons regularly contributes articles for e27 (you can read her thought leadership articles here).

In this candid interview, she talks about his personal and professional life.

How would you explain what you do to a five-year-old?

I write and make stuff that you can play with on your phone.

What has been the biggest highlight/challenge of your career so far?

The challenge for females who want to lead is juggling several balls and getting their voices heard. Building and launching the first Irish Pub in a Web3 metaverse will be up there in terms of achievements for me.

How do you envision the next five years of your career in the blockchain space?

I imagine I won’t get off the Web3 rollercoaster anytime soon. I am firmly in education mode and soaking up knowledge about metaverse opportunities and the blockchain industry in all its forms. 

I want to continue exploring the various ecosystems. I was recently appointed to the Advisory Board of a design-focused metaverse platform called Neoki and a blockchain-focused charity platform, Charitablez.

What are some of your favourite work tools?

I like the one-stop-shop approach that Google Suite offers. I also use Discord, Slack, and Calendly. More recently, I began experimenting with ChatGPT.

What’s something about you or your job that would surprise us?

I love to forage for wild plants and mushrooms at the weekends. I grew up with foragers, and my grandfather taught me how to hunt for mushrooms. It may be where my wandering mind comes from.

Do you prefer WFH or WFO, or hybrid?

I enjoy hybrid or working from home. I tend to be more productive away from the pressure of housework.

What would you tell your younger self?

When I was younger, I had a university education on a pedestal and was determined to get my Masters’s degree. Upon reflection, education is fantastic for building consistency and many softer skills required for working, but I would have spent more time learning outside of the classroom setting.

Also Read: The most important person I need to sell to is myself: Jeffrey Liu of Jenfi

Feel free to take several paths; we all end up in the same place, so the paths to get there should be varied and full of adventure.

Can you describe yourself in three words?

Passionate, fiery, fast-paced.

What are you most likely to be doing if not working?

Spending time with family, experimenting with wild food, reading, painting…the list goes on.

What are you currently reading/listening to/ watching?

I watched The Last of Us and loved the characters. Also, Red Rose on Netflix has gotten the hairs on my neck to stand up. I listen to the All in Podcast regularly. I read literary theory to keep my brain on the right treadmill.

—

Join the e27 contributor community of thought leaders and share your opinion by submitting an article, video, podcast, or infographic.

The post The challenge for female leaders is to get their voices heard: Lisa Gibbons, Blockchain Advocate appeared first on e27.

Ohmyhome has become the first Singaporean firm to list on the Nasdaq in 2023.

The proptech company raised about US$11.2 million from the issue of 3.6 million ordinary shares (priced at US$4 per share).

Its shares started trading at midnight Singapore time on Wednesday under the ticker “OMH”.

Per the MarketWatch data, the trading is closed for the day at US$4.07 per share.

Started in September 2016 by sisters Rhonda and Race Wong, Ohmyhome is a one-stop-shop platform providing end-to-end property solutions and services to customers.

Ohmyhome connects buyers and sellers directly at no cost. The platform boasts features such as ‘ShoutOut’ and ‘Open House’ to enhance the overall user experience.

It operates on a hybrid model — a do-it-yourself (DIY) platform and fully-fledged agency services.

The company has operations in the Philippines, Singapore, and Malaysia.

In August 2021, Ohmyhome secured US$5 million in financing from Singaporean investor Swettenham Blue. Two years earlier, the startup bagged US$2.9 million in a Series A round led by Golden Equator Capital.

—

Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.

The post Singaporean proptech firm Ohmyhome raises US$11.2M from Nasdaq IPO appeared first on e27.

When it comes to tackling the impact of climate change and the involvement of businesses in it, there seemed to be a level of pessimism.

Grace Sai, Unravel Carbon Co-Founder and a speaker at the climate tech panel at Echelon 2022, revealed in an interview with e27 that there is a lack of urgency among companies in achieving net zero targets.

“Public awareness of climate change has increased in recent years, especially with the rise of intense climate-related disasters. Regardless of whether society acknowledges it, the impacts are already at our doorsteps and felt by many,” she said.

“I’ve observed that while there has been an increase in companies setting net zero targets, the urgency in achieving these climate goals is lacking — 40 per cent of them don’t even have a target year to achieve these commitments yet. With the era of pledges behind us, the next critical decade must focus on pathways.”

Understanding the need to uncover these pathways is why we must go beyond the ceremonial and focus on the practical.

Also Read: SG Budget 2023: Greater push towards net zero provides opportunities for startups

This why, as you might see below, Sustainable Growth and Climate will be one of the six themes spotlighted at Echelon Asia Summit 2023:

• Soonicorns and the Future Change-makers of SEA
• Future Sectors and Investment Trends
• Growth and Scaling
• Investments and M&A
• Sustainable Growth and Climate
• Web3

We are now on the lookout for the right speakers for the Sustainable Growth and Climate track.

It is important to note that expertise on this track does not just come from companies that are strictly working in the climate tech sector. Tackling the impact of climate change is a responsibility for all of us; no matter what business vertical you are working on, there is got to be a role that you can play. This is why we would like to hear how your company aims to decarbonise your operations. Are you developing your own solutions? Or do you work with third parties? How do you build a culture of climate sustainability in your team?

For the climate tech startups and investors, we are also looking forward to hear more about what is coming up next in your journey.

Ready to stage your stories to the audiences at Echelon Asia Summit 2023? Register HERE and we will get in touch soon.

We are in this together!

—

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Sustaining the work: How businesses can take a step forward in their move towards net zero appeared first on e27.

Philippine startups raised over US$1 billion in investments in 2022 for the second consecutive year amidst a slowing economy, according to a report released by local VC firm Foxmont Capital. This marks a seven per cent rise over the total investments in 2021.

In comparison, worldwide VC investments shrunk by 37 per cent in 2022, with a 27 per cent decrease in Southeast Asia.

The under-US$5 million deals dominated in 2o22 in the Philippines. However, there had been tremendous growth in later-stage deals in the year, reflecting the overall maturing state of the startup ecosystem.

With 17 deals, Foxmont Capital was the most active VC fund in the Philippines last year.

In 2022, many regional funds also forayed into the Philippines, including Do Ventures, Reefknot Investments, Alpha JWC Ventures, East Ventures, TNB Aura, QUest Ventures, and January Capital.

Also Read: Are startups neglecting the future middle-class population in Philippines?

According to the Foxmont Capital research, 2023 also looks promising, with 17 investments already made into Philippine startups in Q1.

Since 2020, the Philippine share of venture capital amongst neighbouring countries has grown over 4x. Over the past two years, most investments were made into Filipino startups in e-commerce and fintech.

Other highlights of the Foxmont Capital report

• Digital finance is a rapidly growing opportunity owing to new regulations for digibanks and other non-banking financial players.
• Sari-sari stores are following patterns across the region and becoming gateways to the digital economy, becoming both a distribution channel for end-consumers and B2B customers
• The growth is exponential for homegrown direct-to-consumer brands that have worked towards omnichannel presence through the help of e-commerce platforms, social commerce and other e-commerce enablers.

—

Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.

The post Philippine startups raise over US$1B in 2022, under-US$5M deals dominate: report appeared first on e27.

Dear Pro Member,

SolarHome, a promising startup in the clean energy space, is shutting down, says a Deal Street Asia report. The pay-as-you-go solar solutions company has appointed a liquidator to wind up the business.

The news report is a shocker for those working to bring environmentally friendly energy solutions to the city-state, especially the government. SolarHome offered off-grid households a solar lighting system at a low-cost 24-month subscription plan, with an initial US$10 down payment, followed by daily, weekly, or monthly repayments through scratch cards or mobile money. This way, it significantly lowered the barriers to the adoption of solar technology by bottom-of-pyramid clients.

It is not clear what led to the untimely demise of the company. If the challenges in raising venture capital is the reason, then the government should come forward to help the company for the common good of society as well as for the future of the planet we live on.

Job cuts continue in startups; Livspace is the latest to join the list.

Let’s also look at the other key developments from across the region.

———

SVB Financial files for bankruptcy
As part of that process, SVB Financial is also disclosing some of the financial state of the holding company, which had a market cap of about US$12B before shares plunged last Friday as depositors made a run on the bank.

Singaporean startup SolarHome to discontinue business
The pay-as-you-go solar startup has appointed biotech company Ligature Therapeutics as a liquidator to wind up the company; SolarHome is founded by investors such as TRIREC and Insitor Impact Asia Fund.

Ant Group, CerraCap Ventures, EDBI invest in Proxtera
Proxtera implements the Business sans Borders initiative; It seeks to create a global ecosystem for MSMEs using trusted credentials and enable cross-border B2B trade through financing and fulfilment services.

Home decor unicorn Livspace slashes 100 jobs
KKR-backed Livspace has let go of 2% of its over 5,000-member workforce as it aims to hit profitability as early as this year; The move is part of “normal adjustments and/or performance management parameters”.

Antler to invest in over 30 firms in Indonesia
Antler is also launching a founder residency programme for Indonesian startups in Jakarta, beginning in June 2023; Since its expansion in 2022, Antler has financed 25 startups in the archipelago.

Indie game publisher The Iterative Collective nets US$1.2M seed funding
The lead investor is Cocoon Capital; The Iterative Collective has built an ecosystem for independent game studios and provides talented developers with resources and support.

Gaspack raises pre-seed funding to launch Web3 comic store Kometh
The investors include eMerge, 500 Global, and Tokoin; Kometh is built on blockchain and allows users to purchase the rights to read the comic and own, collect, trade, sell, and gift comics.

CEO of Vietnam-based digibank Tnex to step down
In 2019, Bryan Carroll co-founded Tnex as the digital banking arm of Vietnam Maritime Commercial Joint Stock Bank; The digibank said it’s now serving over 1.6M customers.

AppWorks names new principal to lead SEA arm
Sophie Chiu as principal will lead the Taiwanese VC firm’s newly established SEA arm; AppWorks runs a six-month free accelerator programme and currently boasts 472 active startups and 1,522 founders in its alumni network.

Indonesian Shariah digibank posts 3x increase in transactions
The bank also recorded a 200% year-on-year increase in profit in 2022, while its third-party funds rose by 220% and its assets increased by nearly 200% over the same period.

OpenAI releases GPT-4, a multimodal AI that it claims is state-of-the-art
GPT-4 can generate text and accept image and text inputs — an improvement over its predecessor, which only accepted text — and performs at “human level” on various benchmarks.

US startup launches e-pharmacy platform in Myanmar
Common Health has launched a platform in Vietnam to connect patients with service providers through its website, a traditional hotline, and chatbots on Facebook.

The US is investigating TikTok over journalist spying incident
In an internal investigation, ByteDance found that some employees accessed data on American journalists’ TikTok accounts in order to investigate who at the company was leaking information to reporters.

Introduction to SEA’s startup ecosystem and the fundraising landscape
Valuations are lower and driven by solid unit economics and revenue growth; Ticket sizes are smaller but growing; Exits happen mainly via M&As (80% of deals), followed by secondary sales (15%) and IPOs (5%).

‘TOP100 2018 was a valuable marketing opportunity for us’: Holistics.io
Participating in TOP100 provided an excellent opportunity to meet and connect with a wide range of people in the startup ecosystem, says Holistics.io’s Vincent Woon.

These 6 startups are among this year’s frontrunners for TOP100
From our diverse pool of applicants, get to know these 6 unique startups that are close to competing at this year’s TOP100.

Why is open banking the future of fintech?
The potential for open banking to continue to evolve is immense as the fintech sector relentlessly seeks innovative ways to provide the best possible services to consumers.

Creating sustainable futures: The vision of steady-state societies and still cities
Discover the transformative vision of steady-state societies and still cities and how they can create sustainable futures for our planet and communities.

---

The post Ecosystem Roundup: TRIREC-backed pay-as-you-go solar energy firm SolarHome to wind up business appeared first on e27.

It is an exciting time in the tech space not just because of the advancements fueled by Artificial Intelligence and Industry 4.0 but also due to the variety of up-and-coming talent, particularly those who are women.

The term ‘Women in STEM’ has been gaining traction as more women graduate with STEM degrees and eventually find employment in their respective fields. On the surface, it seems as though we have made progress in equalising the playing field, but is this progress truly sustainable when a lack of female leadership is still lacking? 

The current tech landscape and wage bias

Singapore currently boasts a percentage of over 41 per cent of women in the tech workforce, nearly double the global average of 28 per cent. However, the global percentage of women leaders still remains at a startling 10.9 per cent, holding either senior-level or CEO positions. 

Women are usually paid less than men to do the same task.  Women in STEM are no exception to this as well. Whilst my continued work in the field has helped me gain the salary that I deserve, it was not an easy task to get there. 

In the past, even when positions were created for me (because they needed a person like me in their team to take it forward), I was told I could not be paid what I rightly deserved. At such times, I had to weigh between pursuing the opportunity and championing my own dignity.

Such wage gaps, along with workplace gender bias and a shortage of female role models, are among the various glass ceilings faced by women in the tech industry when it comes to advancements in their careers. This leads to a lack of women leaders, and having little to no representation is what leads many young workers to feel discouraged and isolated and eventually leave the industry altogether.  

 Women as innovators and business leaders

When I started commercialising technologies, initially,  I started facing challenges that any brown woman would face. But I like to think of myself as being more than an ordinary brown woman; I’m a fighter, I’m a survivor.

Also Read: Fighting misinformation and cyberbullying against women in public sphere: Call for gender equality and online safety

Even after being the inventor, innovator, and business face of the medical device that I had invented, I was asked to take a backseat, as a brown woman with a kind heart ‘presumably’ cannot run a business in the med-tech ecosystem.

Ironically this came from a woman. I had to turn a deaf ear towards demotivating criticisms, continue believing in myself, keep delivering, and continue with my excellence. This is my strategy to excel in my purpose-driven commitments.

With my continued excellence, I went on to become one of the top 100 women in technology in Singapore and one of MIT Tech Review’s 35 innovators under 35.  

From my own experience, I believe that every woman, alongside multitasking, can be empathetic leaders who can bring different perspectives to the table. Women are needed in every stage, from the design and development of innovation to building ventures around it.

This belief is what propelled me to take up the task of building Let-Lab in Singapore.

Let-Lab in Singapore

I was pregnant when I was given the opportunity to build and lead Singapore’s first industry 4.0-focused startup accelerator, Let-Lab. As a fearless, relentless person who never backed down from opportunities, I decided to leave the comfortable corporate job that was tailor-made for me and jumped straight into the project. 

It was almost a one-woman show trying to persuade corporate companies why it is necessary to engage startups to address unmet needs within the company and infuse innovation into the fragment to give it a competitive edge.

Being a woman with a STEM background and a PHD helped me convince stakeholders within the corporation to work with innovative startups over their traditional suppliers. It helped me convince them of how startups can give customised and better solutions for a lower cost. While working within a corporation, I’m also establishing an ecosystem of industry 4.0 players who can proudly call Singapore their global headquarters. 

Let-Lab empowers startups with resources and innovations and simultaneously fosters an ecosystem of partners, which includes tech companies, academic institutions, startup hubs and relevant investors. Start-ups within the Let-Lab’s ecosystem will have the opportunity to interact with domain experts, develop industry solutions and implement pilot programmes with the facilities of an OEM. 

Also Read: Why it’s time to hit ‘refresh’ when it comes to addressing the gender diversity gap in the IT sector

As Let-Lab aims to empower innovators to go above and beyond with their ventures, I saw it as an opportunity to help and empower other women to break into the tech industry, especially as manufacturing and industry 4.0  is a lean space for women to be in.

Role of mentoring and women

I believe in mentoring as a valuable tool to address the gender gap and nurture the right talents. I co-founded The Edify Project, a one-stop innovative mentorship platform and serve as a mentor for various startups, venture creation programmes and aspiring talents hoping to make it big in the industry.

Through my endeavours, I hope to get a chance to impart my skills and knowledge to help mentor and encourage other women to take that leap of faith and find the confidence to break into the tech industry. I specifically focus more on mentoring girls and women so as to bridge the gender gap and help the next generation (both genders) cross the chasm.

Moreover, deep-tech ventures need women at every stage, as innovators and as business leaders, as there cannot be a developed society without a seat for women at the table. In a way, mentoring is a very unique way I have adapted to overcome burnout situations. This way, I’m doing my part in creating a culture and ecosystem of good-willed humans. 

This is my way of empowering fellow beings who will empower every woman and girl out there, make the world gender-neutral, and in turn, lower the barriers and challenges for girls. I feel that modern startups such as the ones supported by Let-Lab have the potential to inflict change and break away from the traditional gender norms within the industry. It is my personal goal to bring onboard Let-Lab, women-led and women-founded ventures and innovations.

Women are such an integral part of any workforce, and a nation cannot progress if it leaves women behind and does not allow them to flourish. Just as our tools and processes are advancing each year, it is time to make room for more diversity with the inclusion of more women leaders whom the next generation can look to for inspiration and that vouch of confidence that they, too, have what it takes to excel in their careers.

This is even more imperative in developing deep-tech ventures as women innovators and business leaders complement men when it comes to addressing societal needs in a holistic manner.

–

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 Pro

The post Women in industry 4.0: How modern startups can equalise the playing field appeared first on e27.

At e27, we are committed to empowering entrepreneurs by providing them with the necessary resources to build and grow their businesses. Our platform offers startups the chance to showcase their ideas and products to prominent investor networks.

Additionally, we provide industry leaders, technology catalysts, and investment firms access to startups across a diverse range of industries, stages, and locations.

As part of our efforts to connect startups with investors, we introduced Pro Connect over 3 years ago. This platform enables startups and investors to engage directly, leading to the successful facilitation of over 20,000 startup-investor connections.

Our platform has also enabled two startups to secure multi-million dollar funding through connections with investors they met on Pro Connect. We are thrilled to see these success stories, and we are committed to continuing to create opportunities for entrepreneurs to thrive.

Also read: Better browsing experience begins at home(page)

What’s new with the investor page

We have improved the investor page on our platform to create a better experience for our members. The page has been redesigned to include a cleaner filter and search bar, as well as a results table that provides more information about investors.

This redesign will make it easier for our members to determine if an investor is relevant to their needs and if there is a potential for synergy when connecting with them. 

Identify investors who are more likely to respond to connection requests

Previously, our investor page didn’t show whether an investor was actively responding to connection requests. But now, we’ve added a feature that lets you see which investors are most active and responsive. 

Members can now quickly browse through the investor page and discover the right investors who are aligned with what they are looking for. On top of the investors’ activity indicators, the results table includes investment location, verticals, and stages. Visit the redesigned investor page here.

Also read: Why your startup deserves to take part in the 2023 TOP100

Connect with investors on e27

Pro Connect is an e27 Pro membership plan that provides members with a lot of benefits. Members can access more than 500 active and verified investors, along with tools to help startups find and connect with the most appropriate investors for their fundraising goals. 

With a Pro Connect membership, you can send connection requests to investors on the platform, and you’ll also have access to a Connect Dashboard, where you can manage your connection requests and schedule appointments easily. If you’re interested in connecting with investors, you can get your Pro Connect membership today and enjoy a 14-day all-access free trial with any of our Pro Connect plans.

The post A simpler and intuitive investor discovery experience with a new Investor page appeared first on e27.

While working in the packaging and printing industry, Tum Patompong and two of his friends saw the pains of SME restaurants and cafes in sourcing food packaging solutions in low quantities at affordable prices.

They decided to help these small outlets in Thailand and ease their pains.

“We started Dezpax to build a food packaging solutions startup to solve all the pain points in the supply chain. Our online B2B platform enables cafes and restaurants to find affordable, eco-friendly packaging solutions,” Patompong tells e27.

The startup was founded by Patompong (CEO), Pick Passara (COO), and Feem Settapat (CMO).

Dezpax is an e-commerce platform for food packaging solutions for F&B businesses.

“SME restaurants and cafes need packaging solutions, such as food boxes, cups and bags with their logo printed on the items to promote their brands. Usually, they need to order a minimum quantity or pay a minimum of US$1,000 for every order,” he explains.

Also Read: Thai oil firm OR, 500 TukTuks launch US$50M mobility and lifestyle fund ORZON Ventures

Since each category comes from different factories, cafes and restaurants are often forced to contact multiple factories to fulfil their orders. This means they have to shell out thousands of dollars for inventory that lasts just six months.

“This is where Dezpax comes into play,” Patompong shares. “We have brought over a hundred packaging and printing factories into a single platform. We help businesses to customise the packaging with 10x lower minimum order.”

Over 100 factories are listed on the Dezpax platform. Different kinds of materials — fibre-based, bio-mat and petroleum-based — are available on it.

“All the packages are recyclable,” he claims. “Some products are 100 per cent biodegradable. We continuously collaborate with factories to develop products that are good for the environment.”

The startup currently caters only to B2B businesses. It has over 7,000 clients nationwide, such as restaurants, cafes, food delivery outlets, hotels, hospitals, and corporates.

Its clients include McDelivery (McDonald’s), MINOR Food, TAROTO, ibis, Holiday Inn, Amwy Cafe, Ben’s Cookie, Mercado, Thammachart Seafood, TRUE, and Luk KaiThong.

Talking about the market opportunity, he said Thailand has over 600,000 food services, and the market size for food service packaging is about US$1 billion. It also plans to foray into other markets in Southeast Asia in the future.

The Bangkok-based startup has secured two investments since its inception in 2018. These include a US$1.2 million, led by SCG Packaging, in 2020 and a US$2 million Series A round from ORZON Ventures, Next Ventures, and iSeed SEA in 2022.

The COVID-19 pandemic was a challenging period, admits Patompong. “The market was down from the peak demand during the pandemic. However, it is now back on track, and the market has grown slightly. We need to diversify our customer portfolio to other segments, such as food chains, franchises, and cafes. That’s our next goal.”

—

Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.

The post Dezpax helps Thai F&B businesses find affordable, eco-friendly food packaging solutions appeared first on e27.