Dear Pro member,

The new developments don’t bode well for the IPO-bound F88.

The HCMC offices of the financial services company were raided by hundreds of police personnel on Monday. It is accused of employing hundreds of employees as debt collectors, threatening debtors and showing signs of extortion.

If it doesn’t fix these problems and come clean, it could jeopardise its 2024 IPO plans, as investors will likely stay away from buying its shares. The good thing is that F88 has about a year to resolve the issue.

In neighbouring Myanmar, the startup ecosystem is on the verge of collapse. Many startups have shut down, and many founders have fled to countries such as Thailand. There seem to be no genuine efforts from the junta to bring back these talents and revive the ecosystem. Where is the industry headed? Read this feature to get a clear picture.

Take a look at today’s ER for many other recent top stories from across Southeast Asia.

Have a good day!

Sainul

—

Layoff spree continues at Sea Group’s Shopee
The job cuts amount to 10-15% of its regional headcount; The latest cuts are understood to have been undertaken in early February this year and affected all departments across markets.

Vietnam police to investigate IPO-bound lender F88
Police raided the headquarters of F88; The financial firm is under investigation for the alleged extortion of users in its debt collection activities; F88 reportedly has “hundreds of employees” acting as debt collectors.

Akulaku shareholders seek US$100M sale at up to 30% discount
In December 2022, the company secured US$200M from Japanese lender MUFG; This came after Siam Commercial Bank injected US$100M in Akulaku, pushing it to unicorn status.

SG launches probe into Terra after US$40B crypto crash
Do Kwon and his company Terraform Labs were accused of fraud by the US SEC last month; In addition to this, Kwon is facing arrest in South Korea for violating the country’s capital markets laws, among other alleged offences.

Fintech firm Fazz slashes jobs, freezes co-founders’ salaries
It conducted a round of layoffs on March 1; According to the company, these efforts are aimed at shifting the focus to its core strengths – payments, credit, and stablecoins.

Binance refutes that US company aims to skirt regulators
Binance US was established through a partnership with BAM Trading Services, a Delaware-based firm founded by CEO Changpeng Zhao in February 2019; However, it was not revealed at the time that Zhao had control over the BAM.

Indonesia offers US$110M in incentives to boost EV adoption
The subsidy programme has a quota of 200,000 electric motorcycles, 35,900 electric cars, and 50,000 motorcycles converted to EVs within 2023.

Accelerating Asia raising first venture fund for B2B tech startups in SEA
It targets to raise a total of US$11-15M for investments in about 8-10 pre-Series A startups; The firm expects to make first close at the end of Q2 this year.

Indonesia’s Broom raises US$8M Series A
The round was joined by Quona Capital, AC Ventures, MUFG Innovation Partners, and BRI Ventures; Broom provides financing or short-term loans for car dealers with their used car inventory as collateral.

Indoor mapping and navigation services startup Mapxus closes US$5M Series B
Japan’s Kawasaki Heavy Industries led the round; Mapxus recently joined hands with NOIZChain to co-create Honio, an indoor location-based Game-Fi metaverse.

Australian staffing platform Weploy expands to Vietnam
The Weploy app was officially launched in Vietnam on March 2 where it wants to capitalize on businesses’ demand to hire a large number of seasonal workers.

Khazanah looking to team up with SG-based Antler, sources say
The partnership aims to help Khazanah invest in early-stage startups; A Kuala Lumpur-based investor says Khazanah’s deal with Antler may mimic the programmes of national oil company Petronas.

This year, International Women’s Day calls for the tech startup ecosystem to look within
As an industry, before we can create a wide impact in the society we are operating in, we need to examine the ways we are doing things.

Ninja Van launches PR as a service in Singapore
The free service aims to boost the growth of businesses that ship with the express delivery firm in the city-state; It will help these businesses with media release development, influencer management, and event support.

Why your startup deserves to take part in the 2023 TOP100
Today is an exciting yet challenging time to be a startup in Southeast Asia. Joining TOP100 can help you brace for the storm.

‘It will take another 5-10 years to rebuild the Myanmarese startup ecosystem’
Myanmar-based startups and founders have migrated to countries such as Thailand to relocate their businesses or join corporate life.

There is an opportunity every winter: Stephanie Ping of WorQ
We encourage our employees to think out of the box to resolve challenges and lead change to improve the current workflow, says the Worq CEO.

How SoiLabs turns tofu manufacturing waste into cheese
To make it consumable, SoiLabs transforms okara into Soi-X, a proprietary intermediate that can be used for multiple final products.

The thrills of online shopping: Exploring Vietnam’s e-commerce haven
Before 2025, Vietnam is expected to own Southeast Asia’s second-largest e-commerce market, right after Indonesia.

In today’s unpredictable market, is customer retention possible?
Calling all startup founders in the Philippines! Don’t miss the chance to learn insights and strategies on customer retention at The Big Leap Roadshow Manila!

IMF calls for cryptocurrency regulation to ensure financial stability
Read on to learn more about the IMF’s call for cryptocurrency regulation and its potential impact on the financial industry.

—

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 a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Ecosystem Roundup: Sea, Fazz slash jobs; police probe into IPO-bound F88; Terra’s woes continue appeared first on e27.

Once businesses go down the route of implementing more tech for productivity, it can be hard to turn back. In most companies, technology platforms have become critical in managing day-to-day operations. There are applications for every aspect of every business, promising streamlined processes and increased efficiency. 

However, more productivity apps don’t always mean greater productivity. In fact, excessive reliance on workplace apps may be making businesses less productive. 

Research shows that on a day-to-day basis, the typical employee may switch between workplace apps a staggering 1100 times. Every moment spent logging in and out, changing tabs, searching for information, or inputting the same data in several places is a lost opportunity to be doing something more productive. Unsurprisingly, excessive dependence on digital platforms has a demonstrably negative impact on employee concentration, efficiency and motivation. 

The modern employee will typically check their emails on Outlook, check in-house messages on Slack or WhatsApp, attend meetings on Teams or Zoom, takes notes on Notion, then look at their workflows on Asana or Monday.com, search for data on Dropbox or Google Drive — and that’s before we even get into all the industry-specific platforms.

A recent survey revealed that, on average, large companies currently utilise a whopping  187 applications, up from the 77 utilised in 2015. Almost a third of these applications were estimated to provide little to no value to the organisation. 

When asked how they felt about such a glut of applications, 43 per cent of respondents admitted having to alternate between an excessive number of applications to accomplish their basic work duties. Meanwhile, 67 per cent of respondents suggested it would be easier to concentrate on work if critical information from all their applications were presented in a unified window.

Ease the financial burden

More apps also mean more subscriptions to manage. Each platform comes with its own pricing, and with ongoing global inflation, companies subscribed to dozens of services are especially feeling the financial pressure. 

The increased cost might be justified if the apps were actually helping employees be more motivated and productive, but they’re not. Ask any employee what they want in times of inflation, and they’ll probably tell you they want a raise or inflation benefits. Nobody wants to be spending more money on inefficient tech. 

Also Read: Open source: The secret to boosting Singapore’s startup ecosystem

A growing segment of the tech industry has grown increasingly aware of this issue and has come up with a solution. No-code, DIY-style business technology is on the rise, offering companies a centralised system that is easy to modify and customise without needing advanced IT skills.

Companies embracing this no-code technology report substantial cost savings. One small business owner in the US claims that after switching to the no-code platform Kintone, his company saved up to US$7,000 a month on their operations. 

By simplifying the technological landscape, companies can better streamline their workflows, increase employee productivity, and reduce expenditures.

Employee-driven transformation

A common misunderstanding among business leaders is the belief that implementing new IT is long, complicated, expensive, and requires a bunch of IT professionals. While this may have been true a decade or two ago, recent technology is changing the game. Anybody in any department can roll out a no-code platform. With customisation based on simple logic, they can immediately begin organising data and communication, automating workflows, and streamlining collaboration. 

High implementation costs and steep learning curves are the legacies of traditional workplace technology. Employees know where their bottlenecks are. They know which tasks are tedious and repetitive verses which tasks add high value to the company. No-code platforms are geared toward automating and simplifying the menial so employees can focus on the meaningful. 

Make open communication the default for productivity

These days, the biggest barrier we witness to embracing digital transformation and no-code systems is not cost, time, or functionality. It’s culture. For centralised no-code technology to be fully effective, companies need to embrace openness and information sharing. 

Traditionally, companies use closed, siloed systems for most of their communication. Email and chat work on a need-to-know basis, where a sender has to proactively include recipients for them to have access to information. We’ve all experienced having to put our work on hold because we’re waiting for a confirmation email or an important document. 

No-code proposes a solution to information bottlenecks by making open information the default. All data uploaded to the platform can be accessed by anyone within the company. 

Also Read: Why venture capital is going big with cloud mining

In today’s rapidly changing business environment, information sharing is essential for companies to remain competitive, especially in periods of rapid growth. Having access to the latest and most accurate information at all times enables employees to work faster, make better decisions, and collaborate more seamlessly with one another. 

Companies accustomed to strict information control may view the open nature of a centralised no-code platform with suspicion. No-code developers are aware of security concerns, so while open is the default, users can easily impose privacy restrictions for sensitive information, such as human resources and financial data. However, by switching attitudes about information from “Should, we share this?” to “Is there any reason not to share this?” I believe companies can find a better balance between security and accessibility. 

Bring people together

Within any company, different departments have a need for distinct tools, functionalities and communication channels to attain the best productivity norms. Many companies use this fact to justify purchasing a broad range of highly-specialised tech solutions that don’t communicate with one another. The result is communication and data silos, as well as a drop in motivation among users having to juggle an excessive number of tools. 

In almost all cases, interdepartmental cooperation and synergy are more valuable than the potential productivity gains of any hyper-specialised application. No-code prioritises cross-pollination, allowing entire companies to have both joint and separate spaces for communication, collaboration and information sharing. The downstream effects on teamwork and company culture cannot be overstated. 

Given the benefits of no code in terms of cost, productivity, employee ownership, information sharing and morale, it’s no wonder the sector is experiencing double-digit yearly growth. In the modern workplace, there is nothing more valuable than people, and no code puts people back in the centre. Moving forward, employees will continue to demand a more comfortable, efficient and collaborative work environment. There is no more natural solution on the market today than no-code.

–

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: 123rf-orathaimukky

The post The silent killer: How overloading on apps is draining office productivity appeared first on e27.

 

Communities play an essential role in societies. They bring people together, provide a sense of belonging and enable them to grow with like-minded individuals.

In the startup world, these communities serve an incredibly valuable role — more so for underrepresented entrepreneurs such as women founders. The myriad of challenges women founders face are well documented (among them a lack of female role models, obtaining funding, and reckoning with feelings of inadequacy).

Therefore, these women-centric communities help them support one another during their entrepreneurial pursuits and in their fight to overcome the unique barriers facing them.

Community support for women founders is the way forward

My team and I actively hear about the importance of communities from women entrepreneurs who participate in our Google for Startups programs, most recently from two Southeast Asia-based founders who graduated from the 2022 Founders Academy, a mentorship-focused program that connects women-founded startups to Google’s resources, mentors and networks.

Azalea Ayuningtyas, the Founder of Indonesia-based business solutions startup Krealogic, shared these key learnings from the program, “Don’t be afraid to ask for help! Asking for help is not a sign of weakness, and finding the right communities and mentors can really take you places.”

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

In a similar vein, Levana Sani, Founder of Singapore-headquartered biotech startup Nalagenetics, said, “The best part about this program is the friends you get to make. I now know I have friends all over the world, just doing great things. It feels like I am a part of a community.”

The Founders Academy has supported 27 women-led startups in the Asia-Pacific (APAC) from 2020 to 2022: seven startups in 2020, 10 in 2021 and 10 in 2022, a testament to Google’s ongoing commitment to level the playing field for founders, especially those who haven’t been afforded the same support or opportunities as others. 

Our reason is simple. If women and other underrepresented founders aren’t given the same opportunities to build innovative new companies that bring products and solutions to the world, we all miss out, whether it’s solutions to improve your day-to-day life or drive economic growth. That’s why supporting all types of founders is important to us.

In the last three years we’ve run the Founders Academy in APAC, we’ve observed that women founders are increasingly innovating in health solutions. DAL Company, a female technology startup from Korea, uses AI and data to help female patients who suffer from menstruation, female diseases and sexually transmitted diseases, diagnose and treat their pain and discomfort.

India-based Zyla is a care management platform that provides personalised health interventions that include nutrition, physiotherapy, exercise and medication to deliver continuous care to patients.

Through mentorship and workshops, the Founders Academy has not only helped women founders take their businesses (like the ones above) to the next level but grow as leaders and entrepreneurs. 

Sani shared, “Founders Academy came at a time when I personally needed professional coaching. A lot of alternatives were highly expensive and not practical for the company, so this program ticked all the right boxes.”

She outlined, “I got coaching. I got to have hard but necessary conversations with my co-founder. I also got feedback from investors about the company.”

Also Read: #MeToo in startups in SEA and the silence surrounding it is deafening

Ayuningtyas added, “Founders Academy helped me improve my leadership and communication skills, and more importantly, helped me connect and learn from other amazing women founders and mentors from the Google community worldwide.”

Since both founders graduated from the program in November 2022, they have seen significant growth in their startups. Sani’s Nalagenetics secured two major biotech clients and has been increasing its revenue by 80 per cent month over month, while Ayuningtyas’s Krealogi has partnered with a fintech firm to provide financing solutions to their MSME users and is finalising a pilot with a minimart chain to offer curated products to their users. 

Final thoughts

Partnering with startups and watching them grow is what drives my team and me every day. Supporting startups will continue to be an essential part of Google’s work globally, especially in APAC, a hotbed for innovation, entrepreneurship and home to one of the world’s most tech-savvy, youngest and most ambitious populations.

We believe that startups are solving the world’s important challenges with agility, innovative technology, and determination, and we’re proud to help. Through various Google for Startups initiatives, we hope to bring our products, connections and best practices to help even more startups — especially the underrepresented ones — thrive and grow their businesses. When they succeed, our communities and economies succeed, and everyone benefits.

–

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

The post Founders Academy: Empowering women entrepreneurs to bridge the gender gap appeared first on e27.

The GrowHub, a Web3-enabled plug-and-play ecosystem builder focusing on food traceability and carbon credits, has closed a US$3 million pre-Series B investment round.

The investors include strategic individuals, including the company’s CEO and founder Lester Chan.

The GrowHub will use the funds to continue building technology offerings and strengthen its technology capabilities as it expands across the Asia Pacific region.

The agritech startup has also appointed Chai Chun Kiat as CTO, Aaron Loo Jian Lin as Chief Innovation Officer, and Sam Yen Rong Jiun to the advisory board.

Kiat was previously a CTO at Gorila Mobile and Technology Lead at AL2, while Loo was COO at Gorilla Networks. Yen was previously a Vice President at the Bank of America.

Also Read: Malaysian startups, MNCs have started recognising the importance of Web3: Jasmine Ng

The GrowHub began as a farm-to-table solutions provider and a strategic export partner of premium goods from producers looking to reach new audiences in Southeast Asia and beyond. Over the years, it has shifted its technology focus to enable producers and consumers to track, market and understand consumer behaviour and patterns using its Web3, NFC and QR code solutions.

Consumers across the Asia Pacific can interact with these products in their native language, understand products more intimately, and engage with relevant advertisements.

Its clients include businesses and shoppers in Singapore, Australia, Japan, Indonesia, and Malaysia.

In addition to tracking the footprint of food from producer to consumer, The GrowHub also facilitates transparency and reliability in tracing carbon credits with its SaaS platform. The company allows producers, funders and regulators to differentiate and authenticate carbon footprint at source, with initial use cases deployed around soil carbon market integrations.

The firm focuses on the flow and user experience between the network of retailers, distributors, producers, and end-consumers in a fast, secure, credible, and accessible manner.

The GrowHub claims it has reached hundreds of thousands of user interactions per month, growing at 20 per cent. The GrowHub closed 2022 with US$750000 in estimated revenue. It expects to increase this figure by 4x by the end of its fiscal year.

—

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 a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post The GrowHub nets US$3M pre-Series B to improve food traceability, carbon credits in APAC appeared first on e27.

As we get ready to celebrate International Women’s Day, we are reminded of the importance and urgency of this year’s theme, which is #EmbraceEquity. In this article, female leaders from Foodpanda Thailand and SmartOSC share their insights and actionable advice for moving forward for change in the tech industry.

Striving ahead

Within the tech industry, Southeast Asia has been seen as a force leading the way for change by steadily narrowing the gender gap when compared to worldwide figures. A collaborative report from BCG and Singapore’s Infocomm Media Development Authority released in 2021 showed that women accounted for 32 per cent of talent in the tech sector, slightly higher compared to the 28 per cent global figure.

When we zoom in closer to different areas within the region, we can see incredible work being done to boost the foundations for women in tech as well as increase representation.

While the Philippines has remained the best-performing country in Asia in terms of gender parity according to the Global Gender Gap Report, Singapore has the highest percentage of women in the C-suite, with 14 per cent female CEOs and 26 per cent female CFOs, as well as the highest percentage of 44 per cent of women in the overall workforce.

In Malaysia, we have seen the launch of MyDigitalMaker to increase the routes to society 4.0 in a fair and accessible way. Adding to this is  Girls in Tech Vietnam, who are on a mission to eliminate the gender gap within the tech industry.

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

Speaking about women entering the STEM industry on the latest episode of Commerce Talk with SmartOSC, Akanksha Rastogi, Head of Data and Insights at Foodpanda Thailand, said, “We’ve started to see a lot more force in terms of women starting to achieve great heights and literally proving their mettle, inspiring so many others behind them. It’s going to set off a chain reaction, a positively reinforced change, and we’ll see more and more women start to enter this industry.”

All of the strides for change have been good news stories and a step in the right direction. However, with the current market volatility, the tech industry risks losing the gains it has made, as evidenced by the disproportionate layoffs for women in tech compared to men, bringing about a rippling effect of loss on the hard-won diversity and inclusion efforts of companies across the SEA region.

Impacting future growth

In the midst of disruption,  there is a cry out for sustained action, proving even more so that achieving better representation for women in the industry is more important than ever.

As many as 80 per cent of jobs in Southeast Asia will require workers with basic digital literacy as well as applied ICT skills by the year 2030, according to a report published by Dalberg. To meet this need, the report stated the necessity of harnessing the skills, abilities, and perspectives of the full working population — not just the male half.

Adding to this argument is research conducted by McKinsey, which states that advancing women’s equality in the region could help contribute to a US$4.5 trillion increase in their collective annual GDP by 2025.

To reap these benefits, organisations need to do more to attract women to tech jobs and to retain and promote them.

Speaking about the importance of women in STEM fields, Phan Thi Hanh Le, Deputy CEO at SmartOSC, states, “As the tech industry grows and technology advances, so should our understanding of how best to incorporate women into the mix. We want to make sure that whether they are working full-time or part-time, full developers or just interested in learning more about how to code, they need to be shown that they have a place to be inspired and work towards both their professional AND personal goals.”

Adding to this, Rastogi says, “We’ve started recogniSing the unique elements that women bring to even STEM fields. There is nothing in how our brains are wired that makes us less successful. As a matter of fact, it makes us probably more so likely to succeed in these fields. And now organisations recognise that. There are programs and scholarships that are helping women break out from traditional barriers and nurturing talent, and increasingly you see this across the space.”

Recognising the problem

When we look at the possible causes for the gender disparity in Southeast Asia’s tech industry, we find ourselves facing many of the characteristics that form what is known as a wicked problem. A problem that has many interdependent factors, making it seem impossible to solve. Factors such as cultural and traditional beliefs, unconscious and conscious bias, structural and educational barriers, and organisational culture come out time and time again.

Speaking about this, Rastogi states, “I think one of the primary reasons why we see a low percentage of women in STEM fields is simply because we have an unconscious bias, even as educated folks. We sort of tend to have these biases when we are even raising our own kids. While being well-meaning, we still sort of give that impression to kids that boys are very good at science and girls are great at art. This is a message that we sort of reinforce in our homes, in social gatherings, or even at times in schools and universities.”

“I think there are stereotypes that women are not as ambitious, or they’re going to leave soon, or they’re not as capable as men in certain fields, and I think it’s really important to challenge them.”

Moving forward and enabling change

Companies must take action now and continue to create a more supportive and inclusive environment for women. In a tech survey report conducted by Ivanti, the five most important factors to attract women in tech fields to a new role were the following:

• Equal pay and benefits (63 per cent)
• Clear and well-documented career progression opportunities (52 per cent)
• Flexible working policies (51 per cent)
• An all-inclusive culture (38 per cent)
• Mentorship programmes (23.5 per cent)

Nearly 75 per cent of respondents highlighted the importance of industry collaboration and partnership with schools and universities to encourage more women to take up STEM subjects, build the next generation of women in tech, and have more women speakers represented at high-level tech events.

Speaking about what companies can do to improve, Chien Le says, “The future of the tech industry lies in innovation and technology. If there was ever a solution to this problem, it would be for corporations to create new programs that address workplace culture and diversity. These kinds of programs would provide support and resources to women throughout their careers as well as business management training.”

Also Read: Breaking barriers: My journey with Airwallex this International Women’s Day

Adding to this, Rastogi says, “I think we need to change the way we view parenthood as well.  It’s not just the mom’s job to take care of the child. It’s a shared responsibility, and we need to support that, both in terms of policy and culture. And I think, as companies, we need to be more mindful of the fact that women have different needs at different points in their lives, and we need to create an environment where they can thrive regardless of where they are in their personal lives. Because if you have a diverse and inclusive workplace, you’re going to have better ideas, better innovation, better solutions, better products, better everything.”

In Southeast Asia and around the globe, there is no doubt that we still have a long way to go regarding achieving gender equality. In order to keep moving forward, more conscious efforts need to be made to not only recruit women into the industry but also to give them the tools they need to stay.

By doing so, we can help to build a more inclusive and innovative industry for future generations and future success.

–

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 Tech firms in Southeast Asia poised to ‘leap’ forward with gender equality appeared first on e27.

Groundup.ai, a Singaporean startup helping industrial companies prevent unplanned downtime of industrial assets and improve workplace safety, has raised US$1.8 million in its seed funding round.

Wavemaker Partners led the round, with participation from SEEDS Capital and unnamed angels.

The company will use the investment to grow its in-house AI and software team and capabilities and to expand into international markets, including Qatar, Australia and Japan.

Groundup.ai was founded by Leon Lim, a serial entrepreneur with two exits, and co-founded by operations and chemical engineering veteran Alex Wong.

Also Read: How the Internet of Things is making the world a safer haven

Its core solutions lie in condition-based monitoring and predictive maintenance to help companies prevent unplanned downtime of heavy machinery. It also uses Computer Vision to improve workplace safety and save lives.

Its sound-first predictive maintenance platform is done by deploying its proprietary IoT sound sensors and GINA AI platform. GINA picks up sound anomalies, which indicate potential machine issues, so that such issues can be resolved before any catastrophic breakdowns happen, helping clients save millions of dollars in the process.

Groundup.ai’s solutions support industrial companies to take a proactive approach to machinery reliability and workplace safety, ultimately helping to improve the lives and work conditions of those in the industrial sector.

Its solutions have been deployed across various industries, including manufacturing, maritime, and construction.

—

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 a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Groundup.ai bags US$1.8M to help firms prevent unplanned downtime of industrial assets, improve workplace safety appeared first on e27.

Women in politics face a unique set of challenges that are not experienced by men. They are often subjected to sexist attacks, gender-based discrimination, and harassment both in the physical world and online.

Misinformation and cyberbullying are the two biggest problems that women in politics and women in the public sphere face today. Many of the cases we have seen on the internet show that women in public receive enormous hate speech because of organised misinformation distribution more than men. While many politicians were forced to resign, some cases led to violence, robbery, and even murder.

Addressing the misinformation and cyberbullying

Often, this misinformation and hate speech is impossible to stop at its peak, and the platforms like Facebook or Twitter do not provide an effective way of dealing with this or correcting the misinformation. These issues have serious consequences and can harm women’s reputations, affect their careers, and even threaten their safety.

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

Several countries face these issues, and female politicians across the globe have resigned from their roles due to organised misinformation and cyberattacks. This has happened in Brazil, the UK, and many other countries. In my country, Mongolia, for example, I have resigned from my government role as a result of organised political attacks on social media.

From my own experience, I joined the Government as a Chairwoman of the Communications and Information Technology Authority at the age of 27 with a mission to digitise Mongolia’s government and public service.

As soon as I joined, we started the E-Mongolia platform and launched it on 1 October 2020. By the time I resigned, we had digitised over 2,000 government services and gained over two million users, which is 90 per cent of the adult population of Mongolia.

Since digital transformation has been growing very actively, we established a Ministry of Digital Development and Communications of Mongolia. I was first appointed as a State Secretary and soon promoted to Deputy Minister. My vision has been to transition Mongolia to a Digital Nation.

In late 2022, videos of me speaking at a conference in Saudi Arabia the year before were cut, mistranslated, and spread on social media. This led to hate speech directed at me as a woman and as a young leader, with my family also at the receiving end of some attacks. My case was not the first case and will not be the last.

Working towards creating a more equitable and just society

Globally, there has not been any efficient way of monitoring misinformation and its harm. Even though some countries have taken action to regulate it through privacy laws, we have yet to see a  positive impact.

Therefore, regulating oligopolies in social media and, given the nature of the internet, these efforts have also proved to be problematic. To address these issues, we need a coordinated government, civil society, and social media companies.

Also Read: #MeToo in startups in SEA and the silence surrounding it is deafening

Governments can enact legislation that protects women in politics from harassment and discrimination. Civil society can work to raise awareness about these issues and advocate for better policies and monitor actual implementation. Tech companies can take a more proactive approach to monitor and remove harmful content that targets women in politics.

It is very important to create an equal environment in politics for our future. Therefore, we should create a system that provides legal support and training on how to navigate online harassment. It is also important to create a safe space for women in politics to share their experiences and connect with each other, such as through women’s political networks and NGOs.

Ultimately, it is crucial that we work towards creating a more equitable and just society where women in politics are not subjected to gender-based discrimination, harassment, and violence. This requires a collective effort from the government, civil society, tech companies, and individuals to challenge patriarchal norms and promote gender equality in all spheres of life.

Only by working together can we create a world where women in politics can thrive and make actual contributions to society without fear of harassment and retaliation.

–

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 Fighting misinformation and cyberbullying against women in public sphere: Call for gender equality and online safety appeared first on e27.

The Year 2023 is fast into its first quarter, and businesses around the world are keeping close tabs on their performance as the global economy weathers high inflation and an impending recession.

The reality is even starker for local SMEs in cosmopolitan Singapore, where they are more vulnerable to global economic fluctuations.  Every business decision made holds much more weight in the future of the company as more SMEs in Singapore look to expand into overseas markets to scale operations while searching for cost efficiencies.

Singapore SMEs received the news in the nation’s Budget 2023 that this year’s focus would be on talent building and seizing new opportunities amid the heightened global uncertainty. This comes in line with the merger and acquisition objectives of Japanese companies looking to expand their business overseas, driven by the search for more cost-efficient production channels, new markets for expansion or diversification of revenue and cross-cultural management capabilities.

For Singapore SMEs, Japanese investors offer great benefits as the interests of both parties are aligned with the focus on growth in ASEAN. At the same time, for a Singapore company looking to enter the Japanese market, being backed up by a Japanese company will position itself in the trusted keiretsu network. The Japanese word “keiretsu”, which means “group”, describes a strategy that encompasses mutually beneficial relationships among independent companies through shared goals that provide a level of trust.

A gateway to shared values and synergistic fit

With the increase in Japanese companies looking to diversify their business through investments in ASEAN, Singapore is primed as the gateway to ASEAN in the post-pandemic era. This is even more so in recent years, with Japanese tech firms expanding via Singapore.

Also Read: What businesses should take note of before taking the M&A leap

Japanese companies look to Singapore companies as esteemed long-term business partners, placing high importance on having a cultural fit often beyond typical synergies in M&A. By “cultural fit”, we mean that instead of just integrating two different cultures into one, Japanese companies tend to look for the assimilation and accommodation of their Singaporean partners’ company culture.

This provides local SMEs with a greater sense of stability and assurance that their corporate culture is appreciated. Both parties would be committed to the growth of their businesses while preserving their respective company culture. Thus, setting the stage for a successful M&A.

The emotional strings that come with M&A

M&A is more than a marriage. More often than not, M&A between organisations involves more stakeholders and impacts more people than a marriage between two families. The risks run higher, and failure can arguably be more detrimental.

Many Singapore SMEs are family or founder-led businesses where the M&A process is very much an emotional journey vis-à-vis a transaction one. Such transactions have the same challenges as any M&A transaction, with the added complexity of the family’s or founder’s strong attachment to the business.

Being a once-in-a-lifetime transaction, the financial dependency of the owners’ wealth in their business and the strong emotional bond with the business are distinct characteristics of these transactions.

A founder-led business itself with over 30 years of history, the track record of Nihon M&A Center is built upon its expertise in intermediary services in mergers and acquisitions, serving as a link between companies to bring about the agreement in fulfilling the intended outcomes of each transaction.

Preserving corporate identity, observing respect for autonomy, and maintaining the status quo of an acquired company are prioritised by the firm’s network of Japanese investors.

This means that the management team of acquired companies retain significant control of the business and maintains their unique identity and culture, with the support of the Japanese parent company for their business plan post-transaction.

–

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 Beyond the union: Understanding the complexities and impacts of M&As appeared first on e27.

Dear Pro member,

For Southeast Asia’s female-founded startups, there was little to cheer about on this year’s International Women’s Day.

As per a DealStreetAsia report, VCs invested only US$2 billion — or just 12.6 per cent of the total capital in 2022 — in the startups founded by women. A significant 32% drop from 2021’s US$4.43 billion!

Despite the global campaigns against gender disparity in the startup world, startups founded by women are not getting adequate attention. Appointments of more women partners in VC firms could make a difference. What else can be done to improve the situation? Please share your suggestions.

Last week, we spoke with Jojo Malolos, the newly appointed CEO of the embattled Filipino fintech startup Paymongo. He discussed the ongoing issues in the startup and his plans to steady the ship. This interview will mostly be published next week.

Have a look at the top startup stories of Southeast Asia.

Sainul

——-

TaniHub’s fate hangs in the balance
The agritech company is currently under a temporary suspension of debt payment obligations; During this period, it needs to work out an arrangement to repay the creditors, failing which it may face bankruptcy proceedings.

SEA’s female-founded startups bag fewer dollars in 2022
Female-founded startups raised US$2B in equity funding, which is just 12.6% of all private capital raised during the year; Funding for female-founded startups dropped 32% last year from 2021’s US$4.43B.

Shopee lays off 200 employees in Indonesia
The decision aims to improve Shopee Indonesia’s operational efficiency; The news comes after Shopee recorded its first-ever profitable quarter in Q4 2022, with US$196.1 million in adjusted EBITDA.

SG’s tech talent war to continue as the job market stabilises in 2023′
A report by NodeFlair and Iterative reveals that local tech giants such as Shopee and Grab are proven to have power alongside international tech giants such as Bytedance and the FAANG.

Shopee surprises with first-ever quarterly profit
In Q4 2022, the e-commerce major logged US$196.1M in adjusted EBITDA; That’s a massive turnaround from the US$877.7 million in losses it posted in the same quarter a year prior.

Grab prepays US$600M in debt
According to the report, Grab’s existing debt under the term loan is down to US$517M; In February 2021, Grab secured a term loan facility of US$2B.

Grab CFO sells US$1.1M in shares
Peter Oey has sold 341,000 shares in the super app at US$3.17 apiece; Oey was appointed as the CFO in April 2020; He previously served as CFO for legal tech company LegalZoom and US consumer internet business MyLife.

Indonesia’s LinkAja posts 30% revenue jump in 2022
The fintech company said its operational expenses decreased by more than 50% y-o-y; As a result, LinkAja saw its EBITDA loss narrow by more than 60% last year.

Green Li-ion nets US$20.5M in pre-Series B round
The investors include Banpu NEXT (Thailand), Energy Revolution Ventures (UK), TRIREC, and Equinox Ventures; The Singaporean greentech company specialises in battery recycling technology.

Crypto lender Babel Finance to undergo restructuring
It has filed for a moratorium in Singapore to restructure its financial position and repay creditors; Upon the filing, the Hong Kong- and Singapore-based crypto broker will automatically receive a moratorium for 30 days.

Temasek’s SeaTown Holdings invests in Foundation Healthcare Holdings
FHH plans to expand its network and coverage through a “buy-and-build” strategy and extend into other ancillary healthcare services.

Singapore’s SWC Global leads US$7.5M Series A of Growfin
Other backers are 3one4 Capital and angels; India-based Growfin helps B2B firms optimise their working capital by accelerating payment collections from customers and improving cash flow efficiency.

EasyStore acquires Singapore’s chat commerce platform NovoChat
EasyStore merchants will be able to manage and automate customer communication with the help of ChatGPT across multiple chat channels, including WhatsApp, Messenger, LINE, and Telegram, from a single centralised inbox.

Singaporean startup The GrowHub nets US$3M pre-Series B
The investors are strategic individuals; The GrowHub enables producers and consumers to track, market and understand consumer behaviour and patterns using its Web3, NFC and QR code solutions.

EMERGE Group bags US$2.2M to expand its e-sports network in SEA
The investors include Farquhar Venture Capital and Arcane Group; The group claims it has over 580M audiences through its network of thousands of content creators and players from renowned e-sports teams.

Singapore’s Groundup.ai bags US$1.8M seed capital
The investors are Wavemaker Partners, SEEDS Capital and angels; Groundup.ai helps companies prevent unplanned downtime of heavy machinery and uses Computer Vision to improve workplace safety and save lives.

Init 6 backs pre-seed round of Indonesian D2C firm Gently
Gently is a mom-and-babycare brand; Although its products were only launched in April last year, Anjani said that Gently has sold over 10,000 products.

Capital A names CEO, CFO of AirAsia Digital
Colin Currie is the new CEO, and John Cheing is the CFO; AirAsia Digital houses the operations of its logistics firm Teleport, fintech arm BigPay, and the AirAsia Super App.

Endeavor Indonesia’s managing partner passes away
Wayah Surya Wiroto, oversaw the networking firm’s ScaleUp accelerator programmes and was a driving force in the local entrepreneurial community.

‘It is not just another event but an opportunity for all’:
The TOP100 competition helps founders build relationships with like-minded individuals in the startup and technology industry, shares an alumnus.

These 15 startups might just be part of this year’s TOP100
From our diverse pool of applicants, get to know these 15 startups that are close to competing at this year’s competition.

#She27: Celebrating 27 women shaping the future of tech
#She27 aims to amplify the voices of women in tech, highlight their achievements and inspire the next generation of female leaders.

These two sisters are on a mission to popularise immersive technologies in Brunei
Rumine Corporation enables businesses and industries to create customised AR, VR, Mixed Reality, XR, and Applied Games; It offers a customisable platform for personalised learning where users can train remotely.

Pocket Sun of SoGal Ventures warns against ‘purple-washing’ startup investment
Pocket Sun insists on the importance for investors to take action, instead of just presenting the image of being women-friendly.

How Singapore became a leading femtech startup hub in SEA
According to Fermata, there are two factors that help support the femtech industry in Singapore in 2022

The digital decade in SEA: How UK plans to embrace it with the local startup ecosystem
In Singapore and Southeast Asia, the UK has done several initiatives to connect with the local tech startup ecosystem.

Tech firms in SEA poised to ‘leap’ forward with gender equality
Within the tech industry, Southeast Asia is seen as a force leading the way for change by steadily narrowing the gender gap.

Bolstering Malaysia’s vibrant business landscape with the retention playbook
Strategies on customer retention, data analytics, personalisation, and loyalty programmes take centre stage in Malaysia.

—

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 a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Ecosystem Roundup: TaniHub in the soup; SEA’s female-founded startups struggle to raise funding; Job cuts in Shopee Indonesia appeared first on e27.

As the dreary funding winter continues to soar, at e27, we are kickstarting a new article series Line of Hire to understand an organisation’s culture and hiring philosophies to empower tech workers with the right growth tools and enable business owners to attract talent.

Cory Brown is an experienced entrepreneur with a passion for customer service. With over 15 years of experience in the tech industry, he co-founded Pronto Marketing, one of the leading website management and marketing agencies for SMBs. 

Brown is the Founder, CEO and Product Owner at Simplesat, a customer feedback management tool designed to make it easy and fun for businesses to gather and understand customer satisfaction.

Brown’s obsession with customer service and desire to create a better feedback tool led him to create Simplesat. His vision for the company is rooted in the belief that simplicity, usefulness, and fun are key to building great customer relationships.

Brown discusses his company’s culture and hiring philosophies in this candid interview.

What personality traits/qualities do you look for in potential employees?

We’re all about finding the right people for our team. Technical skills are essential, but we also look for certain personality traits that make a great Sim. We want people eager to learn and grow, bring a positive attitude to work, have a proven track record of success, and have diverse interests outside of work. And I love it when we come across someone a little weird or different.

At the end of the day, we’re looking for individuals who not only excel at their job but also fit in well with our team culture and values.

How do they fit into your company culture? Tell us a little more about your company culture.

We embrace a “leader-leader” approach at Simplesat, which means that everyone has the potential to be a leader and contribute to the team’s success. We’re also all about flexibility and responsibility — we empower our employees to take ownership of their work and make decisions that work best for them.

Also Read: There is an opportunity in every winter: Stephanie Ping of WorQ

Our brand values are another critical aspect of our culture. We’re all about keeping things simple, useful, and fun! We strive to make our products and services user-friendly and solve customers’ problems innovatively. And we try to make everything we do enjoyable – after all, we believe work doesn’t have to be boring!

As for my leadership style, I’m a hardcore introvert and prefer not to micromanage people. Instead, I believe in fostering a culture where everyone is self-motivated and autonomous. 

Simplesat’s overall culture is one of collaboration, creativity, and innovation, and we’re always looking for ways to create a positive and productive environment for our team.

How do you foster transparency and encourage achievement in the workplace?

Transparency and achievement are two critical components of Simplesat’s culture; we take both very seriously. Here’s how we foster transparency and encourage achievement in the workplace:

• We use daily check-ins using Basecamp, allowing everyone to see what others are working on.
• We have monthly town hall meetings where we share updates from each department.
• I meet with each employee regularly to allow them to ask me anything they want. These meetings allow employees to voice their concerns, share their ideas, and receive feedback on their work.
• We’re a relatively small startup and don’t have a robust “levels” system for career goals yet. Instead, we’re focused on creating value for our customers, and adding more value constitutes achievement at Simplesat.
• When a team member achieves something noteworthy, we celebrate it. Whether hitting a significant milestone or completing a particularly challenging project, recognising and celebrating achievements is essential for building a positive and supportive work environment.

Do you have a mental health policy? What does that look like?

We don’t have a specific “mental health policy”, but I think Simplesat’s culture and benefits accommodate those struggling with mental health issues. Here are a few things we do to support the mental health of our team members:

• Work from home: We’re primarily a remote company, which means that our employees have the flexibility to work from comfortable and safe spaces. This can be especially helpful for those needing daily breaks to manage their mental health.
• Flex days: We have a flex days system where employees can work on a weekend or holiday and then take another day off. This system allows employees to manage their workload in a way that suits their individual needs and can help prevent burnout.
• Sick and vacation days: We offer generous sick and vacation days, giving employees the time they need to recharge and take care of their mental health when needed.
• Open communication: We believe in creating an environment where employees feel comfortable talking openly about their mental health. We encourage open communication between team members and provide resources for those who need extra support.

WFH or WFO, or hybrid?

We’re hybrid. We don’t have any set rules or requirements for how many days per week employees should be in the office. Instead, we encourage our teams to work together to find the best arrangement for them.

I’m not a fan of 100 per cent remote work. While WFH can be convenient and beneficial in many ways, personal relationships and face-to-face interaction are extremely important for building trust and fostering creativity.

Ultimately, our goal is to create a work environment that allows our employees to be productive, engaged, and fulfilled in their roles, whether they’re working from home, the office, or a combination of both.

How should a tech worker prepare for the funding winter?

In general, when preparing for a funding winter, tech workers must focus on adding value to their company and being as efficient as possible.

Also Read: Keep learning and building relationships during funding winter: Richard Yan of Airwallex

For employees to position themselves not to get laid off, ensuring that their actions directly contribute to your company’s goals and objectives is essential. This means taking a proactive approach to your work and finding ways to add value wherever possible.

For founders and CEOs, we need to focus on efficiency. This may mean eliminating waste and trimming excess fat in your company’s operations. Review your marketing campaigns, features you’re building, or other company initiatives to see where you can streamline processes and reduce costs.

To end with a positive note, a funding winter can be a strong driver that forces us to become leaner and more profitable.

How do you measure the performance of your employees?

It’s important to have a combination of formal and informal feedback channels to ensure everyone is clear on their responsibilities and KPIs.

Performance reviews every six months allow for a more in-depth evaluation of each employee’s performance and values. Complementing these reviews with self-evaluations and 360 reviews provides a well-rounded picture of how employees perform and their colleagues perceive them.

In addition to these formal evaluations, it’s important to have ongoing feedback channels in place. This can include daily or weekly check-ins to ensure everyone meets their responsibilities and KPIs. As a smaller company, it’s also easier to identify when someone isn’t pulling their weight and address the issue early on.

When hiring, will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty?

If a less-than-honest applicant tells us he or she is highly skilled, how can we trust that he or she is telling the truth?

Do you encourage ‘intrapreneurship’ in your organisation?

While we’re a startup focused on executing our product and marketing roadmaps, I do encourage my team to innovate within their own roles. I actively discourage micromanagement and instead value self-motivation, proactivity, and action-oriented mindsets that are common among entrepreneurs.

I wouldn’t say that we encourage intrapreneurship in the traditional sense of employees developing their own products or services. As a small team, we need everyone rowing in the same direction to ensure efficiency and success.

How do you support upskilling for your employees?

We have several initiatives in place to support their growth and development. We have The Simplesat Library at our Bangkok office, which has books on various topics. If an employee wants a particular book, we buy it for them. We also allocate a generous training budget for anyone who wants to attend a course or conference.

I also believe that employees should take responsibility for their upskilling. I encourage our team to be proactive and self-motivated in learning, trying new things, failing, and learning from their experiences.

I don’t believe in organising training sessions that feel like school. Instead, we clarify what is expected of everybody and provide them with the necessary resources to meet those expectations.

Ultimately, I want to support our team in their professional growth and development, but I also expect them to take ownership of their learning journey. 

—

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.

The post We are all about keeping things simple, useful, fun: Cory Brown of Simplesat appeared first on e27.