It’s something we’ve heard a million times before, but that doesn’t make it any less true; screens dominate our lives, and our attention spans have been dwindling in response — a point emphasised by a recent article in TIME magazine. 

Nowhere are the issues of attention spans and screen time more fervent than amongst our children and youth. Children tuning out on education is at an all-time high, especially when everything else around them evolves at a breakneck pace whilst our approach to education remains firmly rooted in the early 2000s.

Thus, the question of how to make education engaging and effective looms large. While digital transformation in education is underway, merely digitising traditional methods falls short of an actual solution.

That solution, however, might be found in a realm that transcends digitisation — the metaverse.

This unexplored terrain offers a unique approach to education, one that marries immersive experiences with experiential learning, promising to reshape how we educate the generations to come.

Imagine a realm where avatars, physical representations of yourself in the virtual metaverse, are the gateway to knowledge. Your avatar, your personal online presence, becomes the bridge, allowing students and educators to interact seamlessly.

A dynamic environment that adapts to lesson content enriches engagement and comprehension, surpassing the confines of traditional education. With the metaverse, the newest iteration of the internet, we may have just that.

A 3-D-enabled digital space that uses virtual reality, augmented reality, and other advanced internet and semiconductor technology to create lifelike personal and business experiences online, the metaverse is breaking down barriers between physical classrooms and virtual learning spaces.

In the metaverse, learning borrows a page from gaming, a strategy that resonates strongly with today’s digital natives. The likes of Roblox and Minecraft are popular examples which effectively illustrate the concept of gamification of learning.

Also Read: Navigating the evolving landscape of blockchain regulation in the metaverse era

By incorporating gaming elements, the metaverse transforms learning into a game-like experience, eliminating social barriers and nurturing active participation. A familiar environment breeds comfort, making education accessible and enjoyable.

Case study: Phoenix Asia Academy of Technology’s metaverse classroom

A groundbreaking example of metaverse integration is the inaugural metaverse classroom at Phoenix Asia Academy of Technology. Breaking free from traditional constraints as the first-ever metaverse classroom in Malaysia, this immersive space redefines education, with efficiency replacing time-bound limitations, while students enjoy an immersive and dynamic learning environment. The metaverse empowers students to voice their opinions without fear, creating a safe space for exploration and active engagement.

But the hitherto untapped potential of the metaverse means that there is more to explore.

• Diversity, equity, and inclusion amplified: Customisation within the metaverse empowers educators to tailor lessons to individual experiences, fostering a diverse and inclusive learning environment.
• Empowering modern learners: The metaverse’s digital familiarity bridges the gap between educators and digital natives, enhancing the educational experience.
• Immersion through mirror worlds: Integrating mirror worlds elevates experiential learning, enabling students to immerse themselves in real-world contexts fostering understanding and application to real-life situations.

A real-time example of this was witnessed at Taylor’s University’s event, The Show, an exhibition of clothing designs by the university’s Bachelor of Fashion Design Technology students held entirely in the metaverse. This groundbreaking initiative, in collaboration with Mitoworld, ushered students into a realm of participatory learning, redefining how knowledge is acquired and applied.

Using Mitoworld as the content creation tool, students of the Bachelor of Interactive Spatial Design course designed a virtual space for their classmates in the Fashion Design Technology course to display old and new designs and live stream their ongoing work.

Beyond giving them a chance to highlight their talents in all their glory, the students also added a special twist to the day — a unique catwalk feature enabling students to have (virtual) models strut their stuff on the metaverse.  

Through the seamless integration of the metaverse, students embarked on an immersive journey where they actively crafted their educational experience. By leveraging the metaverse’s capabilities, The Show transcended conventional boundaries, fostering engagement and innovation in unprecedented ways.

This success story underscores the metaverse’s potential to catalyse dynamic learning environments, enabling students to forge their own paths of discovery and learning.

Also Read: Breaking gender barriers in the metaverse: Women pioneering emerging tech

The metaverse’s uncharted potential beckons, promising a brighter horizon for education. Its integration fosters a generation of learners who are not only proficient in digital literacy but also adaptable to an ever-changing landscape. Educators, too, can rise above traditional pedagogies, embracing an immersive realm that nurtures interaction and engagement.

Countries like Japan, South Korea, and Taiwan have illuminated the path with satisfaction rates of 98.5 per cent, emphasising the metaverse’s success. However, its full potential hinges on collective effort within the educational ecosystem. Crucially — from a Malaysian perspective — this includes partnerships with institutions like the Ministry of Education (MOE), Ministry of Higher Education (MOHE), and Malaysia Digital Economy Corporation (MDEC).

These initiatives underscore the crucial role of partnerships between associations, government bodies, and educational stakeholders. Collaboration is key to realising the full potential of metaverse education. Associations and government agencies are joining forces to drive the metaverse initiative forward, recognising its power to revolutionise education in ways previously unimagined.

In conclusion, the metaverse isn’t just an innovation; it’s a revolution. Its fusion of digital fluency, experiential learning, and immersive environments has the potential to reshape education for the better.

The journey ahead requires the collective efforts of educators, institutions, and government bodies, working hand in hand to unlock the metaverse’s boundless educational possibilities. Together, we pave the way for a future where learning knows no bounds and potential knows no limits.

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Being a successful leader can make all the difference between triumph and failure. But what if you could enhance your leadership skills by using insights from neuroscience?

This article combines practical aspects of startup leadership with neuroscience-backed tips to provide you with an all-inclusive guide. Let’s dive into the ten habits that can transform you into a highly effective and inspiring startup founder.

Habit one: Setting clear goals and priorities

When goals are well-defined, the brain releases dopamine, which thrives on clarity and structure. In a startup, time is a precious commodity, and it is crucial to set clear, actionable goals and break them down into manageable tasks. Prioritising these tasks allows everyone to be aligned with the startup’s mission and tap into the brain’s natural reward system.

Habit two: Effective communication

Mirror neurons play a crucial role in our ability to understand the actions and emotions of those around us. In a startup setting, communication is key to success. From investor meetings to product updates, keeping your team informed is crucial. By maintaining an open dialogue, you can activate mirror neurons and encourage a culture of empathy and trust.

Habit three: Building strong relationships

Did you know that oxytocin, also known as the “bonding hormone,” has the ability to strengthen social bonds? As a leader, you’re not just a boss but also a valuable team player. It’s crucial to invest time in getting to know your team members beyond their job descriptions. This allows for the release of oxytocin, which in turn creates a supportive work environment that is essential for the success of any startup.

Habit four: Continuous learning and self-improvement

It is imperative to commit to continuous learning to stay ahead of industry trends and remain competitive. Neuroplasticity, the brain’s ability to reorganise itself by forming new neural connections, plays a significant role in lifelong learning. By leveraging neuroplasticity, you and your team can enhance your adaptability, acquire new skills, and improve problem-solving abilities. Therefore, it’s essential to create a culture of continuous learning to achieve success in the long run.

Habit five: Taking calculated risks

The prefrontal cortex assists in evaluating risks. Startups are inherently risky, but calculated risks can lead to high rewards. It’s important to evaluate potential outcomes and consult your team to engage the prefrontal cortex, which results in better decision-making.

Also Read: The neuroscience of startups: Unlocking the brain’s potential for business success

Habit six: Empowering and delegating

Empowerment is a powerful tool that can stimulate the reward pathways of the brain. As a founder, it can be tempting to oversee every detail of your business, but micromanaging can be counterproductive. Instead, it’s better to delegate tasks to team members based on their strengths.

This not only frees up your time to make strategic decisions, but it also motivates your team and activates their brain’s reward system. By empowering your team and allowing them to take ownership of their work, you create a positive and productive work environment that benefits everyone involved.

Habit seven: Leading by example

Observational learning activates the mirror neuron system. As a startup founder, your actions set the tone for your team. If you burn the midnight oil, your team is more likely to follow suit. Leading by example taps into the brain’s mirror neurons, making positive behaviours easier to emulate.

Habit eight: Adaptability and flexibility

Cognitive flexibility is the ability that allows people to switch between different tasks, concepts, and perspectives with ease. This neurological strength is crucial for adaptability, problem-solving, and decision-making.

In the dynamic and unpredictable world of startups, being adaptable and flexible in your leadership style and business strategy can be a valuable asset that enables you to navigate through unexpected challenges and opportunities.

Habit nine: Resilience and perseverance

The ability to be resilient is crucial. It allows you to manage stress and overcome setbacks that are inevitable in such a dynamic environment. Furthermore, being resilient helps regulate stress hormones in the brain, which can positively impact your overall well-being.

By demonstrating resilience, startup leaders set a powerful example for their team members and create a culture of perseverance and determination.

Habit ten: Emotional intelligence

The amygdala, a part of the brain, plays a significant role in regulating emotions. When managing a startup, stress is inevitable. However, having emotional intelligence can help you maintain a level head and make rational decisions. Additionally, emotional intelligence enables you to understand your team’s emotional state, which is crucial for creating a healthy work environment.

In conclusion

As a startup founder, you experience both excitement and challenges. However, by incorporating neuroscience-backed habits into your leadership style, you can effectively navigate the complexities of startup life. This not only helps you build a prosperous business but also enables you to assemble a team that is neurologically wired for success.

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This brings the US- and Singapore-based startup’s total funding raised to date to US$9.3 million.

The new capital will support product development and fuel growth.

Established in 2020, Aampe turns an app’s marketing messaging into a personalised experience through agentic AI that tracks and adapts to each user’s individual responses, clicks, and subsequent actions in response to each message they receive.

Also Read: Running on empty: What happens when AI models run out of data?

Marketers can then collect the insights gained about users within a simple dashboard to understand individual user preferences, behaviours, and motivations.

Improving those marketing processes boosts user engagement and conversion rates while reducing the time and effort required to manage traditional rules-based systems.

Aampe currently serves over 50 million users monthly through its enterprise customers, such as HAAT, IntelyCare, PayU, Swiggy, and ZALORA. It says it is growing its customer base across Asia, Europe, and North America.

“AI dramatically alters how we build software, making the older’ rules engine’ generation of software increasingly obsolete,” said Paul Meinshausen, Co-Founder and CEO of Aampe. “Marketers have been forced to define rigid paths for their users that ignore their individuality and diversity. Generic segmentation leads to frustration, reduced engagement, and slower growth. Aampe has created a way for CRM AI agents to iteratively learn user preferences and then adapt and respond to those preferences optimally, unlocking the benefits that better customer experience provides.”

“Customer engagement and marketing technology has been an early beneficiary of advances in AI and machine learning, and Aampe is a clear front runner in enabling organisations to adopt personalised and result-oriented communication to drive growth,” said Aakash Kumar, Managing Director of Matrix Partners India.

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Ask anyone about the most notable recent tech innovations, and you’ll likely hear ‘ChatGPT’ mentioned. This OpenAI’s generative AI tool has been turning heads for its ability to swiftly generate real-time responses to user queries on the internet.

It comes as no surprise that the generative AI market could eventually boost annual global GDP by 7 per cent, resulting in an almost US$7 trillion increase over a decade. This increase can be achieved by improving businesses in three main areas:

• Labour cost savings: AI can decrease the number of employees by automating tasks and processes.
• New business opportunities: AI can help businesses identify new opportunities for growth and innovation.
• Improved decision-making: AI can help businesses make more informed and data-driven decisions.

More than improving business operations, ChatGPT’s advanced algorithms and machine learning capabilities have also enhanced the finance industry, further providing accurate financial analysis, forecasting, and risk assessment.

This raises a crucial question for many: Will the emergence of such advanced technology replace the need for human expertise, especially in finance management?

What can ChatGPT bring to finance management?

Before delving into ChatGPT’s potential impact on the finance industry, let’s understand the basics of financial management. Financial planning and Analysis (usually referred to in short as “FP&A”) involves planning, forecasting, and budgeting while aligning these aspects with investors, key management and operations.

Also Read: 

A key element of this management is building a robust financial model, which is crucial for startups for two main reasons:

Firstly, startups often have limited financial resources and prioritise conservative spending for a longer runway.

Secondly, when seeking investment, investors typically expect a well-developed model to gauge the company’s growth trajectory.

One potential area where ChatGPT can disrupt this scene is by offering guidelines and templates for small startups. Given ChatGPT’s ability to gather web data, it can be seamlessly integrated into financial processes, simplifying data analysis, as well as enhancing accuracy in forecasting and trend spotting. All within minutes and at an affordable cost.

Under the freemium model, ChatGPT is largely free for the average user, with premium features available for a marginal fee of SGD$20. Compared to engaging a consultant, which could cost thousands, using the AI tool becomes a no-brainer.

Human touch: AI’s missing link

ChatGPT, however, faces limitations in handling financial complexities. While it can work with numbers and formulas, it lacks the nuanced contextual understanding, human judgment, intuition, and insights of experienced financial professionals.

Additionally, the firm’s priorities are influenced by its founders, who have their emotions, beliefs, and personalities. Hence, reaching financial decisions isn’t always straightforward and often requires negotiating among key stakeholders.

While AI can provide numerical data, aligning these numbers with management’s priorities and making sense of them is another challenge.

AI lacks an in-depth understanding of a business’ intricacies, offering only generic advice. It cannot replace the critical human insights that encompass market trends, industry knowledge, and nuanced decision-making.

Why trust and accountability defy AI replacement

It is also highly unlikely for AI to replace the crucial aspects of trust and accountability. Entrepreneurs often value the expertise and reputation of human professionals, who can be held accountable for their advice and decisions, establishing trustworthy relationships that go beyond automated systems. Unlike human experts, AI systems typically do not offer guarantees or accept liabilities.

Also Read: 

From a security standpoint, cybersecurity stands out as the primary concern with AI use. It’s noteworthy that the second most common response among those experiencing reduced returns from AI implementation is their uncertainty about the extent of vulnerability to AI-related risks, such as data protection and privacy.

For example, the synthetic data created by generative AI can come across as real data, which may give away the data source or seemingly identify  specific individuals or corporations (even without naming them directly.)

Another issue would be the management of the data collection; a study has shown that about 11 per cent of individuals share personal or confidential work information with AI-related applications – these data are not only stored in the servers of AI companies but are also used in the process of generating data for the public’s use.

Due to the hype and demand for such services, alongside a relatively new field of work, it is plausible that many providers (in a bid to collect data) skim through security policy enforcements, resulting in little or no oversight over such risks as user confidentiality.

Our ‘Skynet’ days have yet to come

In conclusion, while ChatGPT or AI are powerful tools, it’s crucial to avoid becoming overly dependent on them for business operations.

Rather than seeing AI as a complete replacement, businesses should acknowledge that human expertise can complement these tools.

By harnessing the strengths of AI-driven financial analysis alongside human judgment, startups can benefit from both worlds: efficient data processing through AI and strategic decision-making guided by human experts.

While ChatGPT and similar AI technologies promise valuable capabilities for startup financial management, they can’t replace the human element of relationships and emotions.

The human touch adds depth,  adaptability, trust and nuanced decision-making, which complement the analytical power of AI. These intangible factors also play a role in team ownership and satisfaction, fostered through collaboration among stakeholders.

Also Read: 

Instead, AI should primarily automate routine and repetitive tasks, freeing up workers to focus more on meaningful decisions and priorities. While this shift may lead to job displacement in certain industries, AI can also, on the flip side, create new opportunities, such as telemedicine, or expand existing areas, like agriculture tech.

Companies can therefore harness AI’s full potential to enhance their financial capabilities while involving human experts to ensure ethical and appropriate implementation.

Businesses may still find value in outsourcing their financial capabilities to agencies for cost savings and effective financial management, whether they choose to integrate AI or not.

(Note: ChatGPT did not write this article)

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

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Dear Pro member,

Investree’s recent EUR 220 million (US$231 million) Series D funding round, led by JTA International Holding, marks a significant milestone in the company’s growth trajectory. This positions Investree to expand its digital financial solutions for underbanked MSMEs.

The establishment of the JTA Investree Doha Consultancy joint venture deepens Investree’s foothold in the Middle East and enables it to empower MSMEs across multiple regions using advanced technology such as AI. This strategic partnership with JTA opens up possibilities for cross-border innovation and financial inclusion.

Since its inception in 2015, Investree has been instrumental in bridging the financing gap for MSMEs, particularly in Indonesia. It has disbursed over US$916 million in productive loans as of October 2023.

With this latest funding round, Investree looks to continue making a impact on the financial landscape for MSMEs, both in Indonesia and beyond, by fostering innovation, facilitating growth, and ultimately improving livelihoods.

Sainul,
Editor.

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Qatar firm JTA leads MSME lender Investree’s US$231M Series D round
SBI Holding also co-invested; Investree also formed a JV with JTA that will serve as the Middle East hub for the lender to offer digital lending technology solutions.

GoTo scores US$150M to boost financial inclusion, sustainability across Indonesia
The partnership also includes non-financial support to help GoTo transition its fleet of driver-partners and delivery partners to EVs.

Startups in Singapore raise US$121M over 12 rounds in Sept: Tracxn report
The top deals of September 2023 were bolttech’s US$50 million, Chitose Bio Evolution’s US$21 million, AWAK’s US$20 million, Novelship’s US$9.5 million, and Mythic Protocol’s US$6.5 million.

MARS Growth launches first equity fund with US$500M initial commitment
The venture debt fund, Dragon Fund I, will make growth equity investments private, tech, and tech-enabled firms, with deal sizes between US$20M and US$100M; It will initially focus on Asia Pacific.

Hong Kong VC firm CMCC Global raises US$100M in first close of Web3 fund
The Titan Fund will target early-stage startups in three areas: infrastructure, fintech, and consumer applications such as gaming, metaverse, and NFTs.

Visa’s new US$100M fund to back generative AI startups
The fund will invest in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments.

Rainforest secures US$21.5M funding, reports 9x growth in FY2022 revenue
The investors are Canopy Tropics, Monk’s Hill, Insignia Venture, and January Capital; Net loss for FY2022 was US$10M compared to US$2.1M in the prior year.

Singapore police appear to confirm arrest of 3AC co-founder Su Zhu
Zhu was apprehended in Singapore last week; He will spend four months in prison under an arrest order after he did not comply with an order to cooperate with investigations into Three Arrows Capital.

AI-native user engagement platform Aampe attracts US$7.5M
Lead investors are Matrix Partners India and Peak XV Partners; Aampe enables marketers to collect the insights gained about users within a dashboard to understand individual user preferences, behaviours, and motivations.

Temasek Trust, DBS Foundation launch fundraising platform for impact startups
Through the platform Co-Axis, impact startups can raise capital from private investors, such as venture capitalists and private equity firms, but also public funds and philanthropists.

Earth VC joins Israeli agritech startup Treetoscope’s US$7M seed round
Treetoscope provides farmers with advanced irrigation insights while applying AI and sensors to measure plant water consumption in real-time; The company plans to expand to Asia in the upcoming years.

Altara, Gentree Fund co-lead Kita Agritech’s US$3M seed round.
The company supports local farmers by financing their agricultural inputs and directly procuring their goods for distribution to various enterprises, such as hotels, restaurants, and food manufacturers.

MADCash bags US$1.1M to provide zero-interest micro funds to female founders
The investors are Artem Ventures, MSW Ventures, and ScaleUp Founders Fund; It will use the funds to enhance its online platform using AI technology and explore expansion opportunities within Southeast Asia.

A day after ban, TikTok Shop’s Indonesia sellers are staying put – for now
After the government banned e-commerce transactions on social media, TikTok Shop has shut down in the country starting 6 pm SGT on Wednesday.

Shariah fintech firm Alami raises funding, appoints new COO
Intudo Ventures led the funding round; The firm will use the funds for scaling and expanding in addition to launching new offerings such as Hijra Home Financing, a mortgage product.

SEA’s conglomerates lose edge against pure-play companies: report
In the past, conglomerates were “attractive” entry points for international investors as they were large and had privileged access to opportunities, capital, and talent. But that changed once the region’s markets matured, says the Bain & Company report.

Southeast Asian startups attract multi-million investments in September
Regional startups, including Automera and Kiddocare, raised over US$100 million in September 2023, propelling diverse sectors toward growth.

Driving change: Mober’s journey towards sustainable green delivery
According to Co-Founder and CEO Dennis Ng, Mober is making tangible efforts to reduce carbon emissions in the logistics and delivery sector by utilising EVs.

Social food app Drigmo looks to revolutionise restaurant discovery, connection
Drigmo enables users to organise their places with custom tags and bring their lists to life by adding personal memories through notes, pictures, and videos.

Runa Capital plans to propel Asian deep-tech startups onto the global stage
In selecting a potential investment, Runa Capital puts heavy emphasis on strong products and global-orientedness.

Marc Mercuri on how blockchain revolutionises gaming for players, creators
However, Mercuri does not see blockchain gaming as a replacement or competitor to the existing AAA titles.

Why fintech companies should learn about customer retention from e-commerce companies
Despite their differences, there are several lessons that fintech companies can get from e-commerce companies.

What do you need to know about the eco-gender gap
Eco gender gap is when solutions to tackle climate change seem to be geared only toward women. How should businesses deal with this?

What can LKY teach you about identifying and building your first 100 fans
Here’s what Lee Kuan Yew’s documentary on Netflix taught me about how finding your first 100 raving fans can set you up for success.

How to unlock the potential of conversational commerce in Asia Pacific
Latest research: APAC companies boost cloud investments for enhanced customer experiences and operational efficiency.

Empowering women entrepreneurs: Breaking stereotypes, building success
By challenging stereotypes and providing tailored financial support, we can foster an inclusive environment where women entrepreneurs can flourish.

This founder’s story is the only optimism you need amidst the upcoming tech slowdown
It might seem that I was unlucky, but I have learned some things from these two startup experiences which have driven my success today.

Understanding the significance of Cybersecurity Awareness Month
This article explores what Cybersecurity Awareness Month is all about, why it matters, and how to get started.

Empowering Singapore’s future: SMEs need to embrace renewable energy solutions
The adoption of renewable energy solutions is fast becoming a necessity rather than a choice for SMEs and bigger enterprises within Singapore

10 essential steps to unlock your neuroscience-backed leadership mindset
This article combines practical aspects of startup leadership with neuroscience-backed tips to provide you with an all-inclusive guide.

Will the new digital banks sound the death knell for traditional banks?
According to a prominent fintech entrepreneur in Malaysia, customers will be willing to ditch their existing banks for the new entrants.

BoomGrow: Transforming Malaysia’s food landscape with hyperlocal indoor farming
Founded by Jay Desan and the team, BoomGrow pioneers indoor farming, providing affordable, clean produce and aims for sustainable expansion.

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Funding raised by fintech startups in Southeast Asia in the third quarter of this year plunged 74 per cent to US$229 million from US$887 million in the same period last year, making it the lowest-funded quarter since 2020, according to a Tracxn report.

On a quarter-on-quarter basis, fintech investments declined 48 per cent.

The drop is largely due to the absence of late-stage rounds in Q3 2023, Tracxn said in the Geo Quarterly Report: FinTech SEA – Q3 2023. This can be attributed to several factors that have affected the SEA economy, including the rising interest rates, macroeconomic factors and fear of reduction in startup valuations, declining global demands for manufactured goods, and the early onset of El Niño impacting agriculture.

The region’s fintech startup ecosystem received its highest funding in Q4 2021, and it started witnessing a steady decline after Q2 2022.

Also Read: Why fintech companies should learn about customer retention from e-commerce companies

The fintech vertical secured US$203 million in early-stage funding in Q3 2023, a 55 per cent decline from US$452 million in Q3 2022 and a 37 per cent drop compared to Q2 2023.

Seed-stage investments in Q3 2023 stood at US$26.3 million, a plunge of 73 per cent from US$98 million raised in Q3 2022 and a 27 per cent drop over Q2 2023.

Cryptocurrencies, insurance IT and investment tech were the top-funded sectors in the third quarter of 2023. Cryptocurrencies received funding of US$71.5 million in Q3 2023, a fall of 4 per cent compared to US$74.4 million in Q2 2023 and a drop of 8 per cent from Q3 2022.

Internet-first insurance platforms, payments and alternative lending were the most affected segments in Q3 2023 in this space, with a plunge of 100 per cent, 69 per cent and 87 per cent compared with the funds raised in Q2 2023.

No new fintech unicorns emerged in Q3 2023, no US$100 million+ rounds were reported, and no new companies went public. Six acquisitions took place in Q3 2023, a growth of 20 per cent from five acquisitions in Q3 2022.

East Ventures, Y Combinator, and 500 Global are the most active investors in this space. Y Combinator, Hashed and Binance Labs were the top investors in seed-stage rounds for Q3 2023. Patamar Capital, Lightspeed Venture Partners and Peak XV Partners were the most active investors in early-stage rounds in Q3 2023.

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The number of existing internet users, which is projected to reach five billion by the end of 2023 and grow to eight billion by 2040, is expected to drive global tech stack expansion, according to a new report by 500 Global.

But in order to capture value creation, tech companies need to be able to understand internet users on a global level. The report detailed that as startup activities are becoming more globalised, with more than 100 countries having active startup ecosystems, so are unicorn activities, with more than 50 countries minting at least one unicorn.

Global revenues are an increasingly important lever for tech, the report stressed.

Called the Rise Report, in this report, 500 Global analysed third-party datasets to examine the potential venture funding gaps between emerging economies (“Rise Economies”) and the relatively mature startup ecosystems. It also seeks to understand “patterns of innovation and potential opportunity in the tech landscape.”

“Our overarching thesis is that by identifying what we believe is the relative delta between where an underpenetrated venture ecosystem is versus their potential, we may find alpha on a global scale,” said Courtney Powell, COO and Managing Partner at 500 Global in a press statement.

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“When we’re able to quantify the potential gaps in a venture ecosystem, we believe we are better equipped to collaborate with all stakeholders to accelerate global venture ecosystems and enable startups to drive economic growth in their economies and financial returns to our investors.”

Beyond US and China

In the report, 500 Global also stated that while many believe that the next decade will be defined by the US and China, it also believes in the role played by Rise 30—the 30 largest, fast-growing economies outside of the US and China that are expected to surpass the two countries by GDP.

India tops this list, while Indonesia is the only Southeast Asian country that made it to the top 10 list. Thailand, Vietnam, Singapore, and Malaysia were also in the top 20 list.

In the matter of the venture funding gap, in 2022, Singapore and Israel were the only two Rise Economies with Venture Penetration higher than that of the US.

Several key points that the report noted about the Rise 30 countries: They are growing faster, with younger population that are more social media savvy—and based in rural areas.

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Image Credit: RunwayML

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In today’s fast-paced and competitive world, building a dedicated and passionate following is a crucial factor for the success of any project. Whether you’re launching a blockchain platform, a digital art collection, or an educational initiative like Open Campus, finding your first 100 raving fans can set the stage for unprecedented growth and impact.

I was recently inspired by the remarkable story of Lee Kuan Yew’s documentary on Netflix, which transformed Singapore into a global powerhouse in a single generation. Lee’s leadership and vision were legendary. He took a small, resource-limited nation and turned it into an economic powerhouse.

One of his remarkable qualities was his ability to build a nation with a shared vision and passion. He didn’t just lead; he inspired a sense of purpose and unity in his people. This approach is applicable to projects of all kinds, especially in the Web3 and blockchain space.

Cardano: The power of a scientific community

Cardano, a third-generation blockchain platform, is a prime example of how a strong community can drive a project’s success. Its founder, Charles Hoskinson, understood the importance of building a community around a shared vision.

Cardano’s first 100 raving fans were often individuals with a deep interest in blockchain technology and cryptography. They believed in Cardano’s scientific approach to development and its potential to bring financial services to the unbanked.

As Cardano’s community grew, so did its influence. These early supporters became ambassadors, developers, and advocates. They contributed to research, built decentralized applications (dApps), and spread the word about Cardano’s capabilities. Cardano’s success wasn’t solely due to its technology; it was the passionate community that rallied behind it.

Bored Ape Yacht Club: A digital art movement

In the world of digital art and NFTs, the Bored Ape Yacht Club (BAYC) stands out as a remarkable success story. BAYC is a collection of unique, hand-drawn NFTs that also grant membership to an exclusive club. Owners of these NFTs become part of a passionate and creative community.

The Bored Ape Yacht Club’s first 100 fans were the early adopters who recognized the value of owning these unique pieces of digital art. But it wasn’t just about the art; it was about the shared identity and culture that emerged around BAYC. Owners proudly displayed their apes on social media, attended virtual meetups, and engaged in collaborative projects.

This sense of belonging and shared ownership created a powerful network effect. As more people saw the community forming around BAYC, they wanted to be a part of it. The project’s success was not only about the art but also about the community it fostered.

Chainlink: Bridging the gap with developers

Chainlink, a decentralised Oracle network, is another project that found early success by focusing on developers and building a community of fans within this niche. Chainlink’s first 100 fans were often developers who recognised the need for reliable and decentralised oracles to connect smart contracts with real-world data.

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Chainlink didn’t just create a product; it became an essential tool for the burgeoning DeFi ecosystem. By providing secure and tamper-proof data feeds, Chainlink enabled a new wave of DeFi applications. This value proposition resonated deeply with developers.

The Chainlink community grew organically as developers integrated Chainlink oracles into their projects and shared their positive experiences. The project’s first 100 fans played a pivotal role in shaping the narrative around the importance of oracles in the blockchain space. Chainlink’s success today is a testament to the power of cultivating a passionate developer community.

Open Campus: Bridging education and Web3 with early fans

Open Campus, a forward-thinking initiative at the intersection of education and Web3, is leveraging its early fans to drive impact. Just like Cardano, BAYC, and Chainlink, Open Campus recognizes the significance of building a passionate following from the ground up.

Open Campus’s first 100 fans are educators, learners, and enthusiasts who share a vision for the future of education in the blockchain era. These early supporters are not just users; they are co-creators and advocates. They actively participate in shaping the project’s direction, providing feedback, and spreading the word about its unique approach to education.

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By nurturing this early fanbase, Open Campus is not only building a strong foundation but also fostering a sense of ownership and community. These fans are instrumental in co-creating educational content, validating the project’s value proposition, and attracting new learners.

Identifying and building your first 100 raving fans

How can projects identify and cultivate their first 100 raving fans? Here are some key strategies:

• Define your vision: Clearly articulate your project’s mission and vision. What problem are you solving, and why is it essential? Your vision should resonate deeply with your target audience.
• Engage early adopters: Identify and engage with early adopters who align with your vision. These individuals are often passionate about your industry or technology.
• Create value: Provide real value to your early fans. Whether it’s unique technology, exclusive benefits, or a sense of belonging, ensure that they gain something meaningful from supporting your project.
• Listen and iterate: Actively listen to your early fans’ feedback and iterate on your project based on their input. This demonstrates that you value their contributions.
• Foster community: Encourage interaction among your early fans. Build spaces where they can connect, collaborate, and share their experiences.
• Tell your story: Share your project’s journey, successes, and challenges. Authentic storytelling can resonate deeply with your audience.
• Reward advocacy: Recognize and reward your most passionate advocates. This can be through exclusive access, tokens, or other incentives.

The first 100 raving fans are the foundation upon which successful projects are built. They believe in your vision, become your advocates, and drive your growth. Whether you’re in blockchain, art, education, or any other field, the lessons from projects like Cardano, Bored Ape Yacht Club, Chainlink, and Open Campus emphasize the enduring power of passionate communities. Cultivating these early fans is not just about building a following; it’s about building a movement.

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Singapore-based global impact investor Earth Venture Capital (Earth VC) has participated in the US$7 million seed financing round of Israeli agritech startup TreetoScope.

Others joining the round are Israeli Champel Capital, SeedIL, and strategic investors. 

The funding will be used for R&D, overall growth, and accelerating commercial agriculture expansion in North America and beyond. Its sales volume is now concentrated in North America and Europe. The company also plans to expand to Asia in the upcoming years.

“The funding will enable us to expedite our research and to expand, improve, and carry out our mission to provide farmers with the tools they need to grow more with less water and inputs,” Treetoscope CEO Dotan Eshet said.

Also Read: ‘Climate tech: SEA needs more time to improve startup quality, attract capital’, says Earth Venture Capital’s Tien Nguyen

Treetoscope provides farmers with advanced irrigation insights while applying Artificial Intelligence technologies and utilising innovative sensors developed by the company to measure plant water consumption in real-time.

Its in-tree/plant sensors are easy to install by the growers and directly measure water uptake in real-time. Combined with AI, integrated weather data, satellite imagery, and other remote data, Treetoscope’s irrigation management system provides growers with a more accurate data set to schedule irrigations, cut back water and other input costs, and ensure optimal crop health and production.

To date, Treetoscope has secured more than US$10 million in total investments, which includes grants from the Israel Innovation Authority and Bird Foundation.

Today, 70 per cent of annual freshwater consumption is used by the agricultural sector, and more than half is wasted because of poor irrigation systems, evaporation, and overall poor water management. Treetoscope enables farmers to save approximately 30 per cent in irrigation expenses increase the yield, and the weighted profits for the farmers.

Early this year, Earth VC joined the US$5 million Series A investment round of Israeli intelligent traffic management startup ITC.

Earth VC is a global VC firm investing in climate-tech solutions, with a focus on Southeast Asia. The firm invests in seed to Series A startups in AI, Machine Learning, robotics, new materials, new energy, and the IoT that serve the goals of switching to renewable energy, abandoning fossil fuel, and increasing the level of carbon storage.

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Flux Series: Marketing Leaders is happening at the St. Regis in Jakarta, Indonesia, on 15 November 2023. Are you working in the field of marketing? Don’t miss out on this focused and curated event designed especially for marketing professionals!

Get your tickets to Flux Series: Marketing Leaders today!

Partnerships are the cornerstone of success in any venture, and the forthcoming Flux Series: Marketing Leaders event exemplifies this principle. The Flux Series offers an exclusive platform for industry trailblazers to engage in immersive learning sessions, granting access to industry knowledge and actionable strategies that can fuel sustainable growth and profitability for your brand.

Set against the elegant backdrop of the St. Regis in Jakarta, Indonesia, on November 15, 2023, the inaugural edition of Flux Series promises to bring together influential marketing leaders. Their mission: to deliberate, brainstorm, and formulate actionable strategies for optimising marketing endeavors through AI-driven innovations and cutting-edge technology, all with the goal of achieving fresh marketing milestones for your company.

Within Flux Series: Marketing Leaders, attendees can anticipate enlightening keynote speeches, dynamic panel discussions, and hands-on workshops covering an array of topics surrounding the complex world of marketing. These sessions will delve into harnessing artificial intelligence to fortify marketing initiatives and cultivate deeper connections with customers, as well as exploring the latest trends in technology.

Partners that are committed to our mission

Sponsors hold a pivotal role in the triumph of Flux Series: Marketing Leaders on multiple fronts. Firstly, they extend diverse forms of support and coverage for the various facets that make the event an enriching and exhilarating experience for participants.

Furthermore, sponsors contribute their wealth of expertise and insights, affording attendees exclusive benefits. Through their extensive networks and marketing channels, sponsors extend the reach of the event, offering valuable insights to a broader demographic.

Also read: Engage your peers in roundtable discussions at Flux Series

Equally significant is the presence of sponsors at the event. This creates invaluable networking opportunities for attendees to acquaint themselves with the products and services on offer. This facet aligns seamlessly with the core purpose of Flux Series — to serve as a curated gathering for marketing leaders, fostering connections between all stakeholders. By championing Flux Series: Marketing Leaders, participants can engage with fellow marketing professionals, gaining access to industry best practices and actionable wisdom, ultimately forging novel partnerships and collaborations poised to propel business growth and triumph.

Meet Digimind at Flux Series: Marketing Leaders

Digimind is the global leader in AI-powered social listening platforms and market intelligence software designed for brands and agencies who want to accelerate digital transformation through an insights-driven approach. Recognised by Forrester and Gartner, Digimind’s best-in-class technology transforms social and online data into actionable business insights, enabling marketers to effectively plan, execute, and analyse their marketing strategy.

With offices in New York, Paris, Singapore, Grenoble, Rabat, Buenos Aires, Mexico, Madrid, and Amsterdam, Digimind is serving more than 700 customers worldwide.

Also read: Diverse range of startups make it to X-PITCH 2023 TOP100

Digimind prides itself on its mission: To be the world’s most trusted Social Listening and Intelligence platform, helping their customers understand the world as it is. “Having Digimind at Flux allows us to be in front of key marketing decision-makers from some of the country’s top brands, giving us the needed exposure to educate the audience about what our tool can bring to their business goals,” explained Jared Silitonga, Regional Marketing Lead at Digimind.

Digimind seeks to take part in Flux Series: Marketing Leaders because of the potential conversations they will be having with their connections at the event, a true testament to the program’s ability to connect industry leaders at the forefront of knowledge-sharing and innovative tech.

Join Flux Series: Marketing Leaders

Flux Series: Marketing Leaders goes beyond conventional learning environments by providing a curated selection of growth-oriented content stages. These stages serve as dynamic platforms where attendees gain invaluable knowledge on how to leverage disruptive technologies and harness the power of AI to supercharge their marketing efforts. Here, participants get to immerse in active knowledge-sharing guided by industry trailblazers who will be lending their expertise and experiences. From decoding AI-powered tools to unveiling transformative marketing strategies, these content stages are designed to equip marketers with actionable insights that can be seamlessly integrated into their business strategies.

Also read: How PriyoShop is revolutionising the B2B procurement process

For marketing leaders aiming to elevate their company’s marketing goals, Flux Series: Marketing Leaders is a must-attend event. Join us in Jakarta on November 15, 2023, for a day of insightful discussions, interactive workshops, and unparalleled networking opportunities that will reshape the way you approach marketing in the digital age.

Join the Flux Series or become our partner and be a driving force in the AI-powered marketing revolution. To learn more about the event, you may visit the official Flux Series: Marketing Leaders page.

Get ready to embark on a journey that will not only deepen your understanding of AI-driven marketing but also equip you with the actionable insights needed to thrive in the dynamic world of modern marketing.

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