Picture this: You’re sitting at your desk, surrounded by the gadgets that have become an integral part of your life. Your phone, your laptop, your tablet, your gaming console – they’re like old friends, always there to keep you connected and entertained. 

But have you ever wondered about what happens to these devices when their time is up? 

The answer lies in a challenge that’s impacting our planet: e-waste.

E-waste is more than just a term; it’s a growing crisis that’s silently affecting us. As we embrace the latest gadgets and upgrade to newer models, the discarded devices pile up, creating a challenge that can’t be ignored. These gadgets might be small individually, but when you consider the collective impact, the scale of the issue becomes undeniable.

Also read: Strategic content via e27 amplifies CMI’s goals beyond numbers

According to this report by Statista, the average lifespan of a mobile phone from the year 2013 to 2020 is 29 months. That means that an average person has had 3.3 smartphones in that eight-year period. Doing a bit of math on that, with Singapore’s 85 per cent smartphone use penetration rate, we’re looking at over 15 million smartphones.

That’s just in Singapore. And that’s just looking at smartphones.

Why should you care?

E-waste contains components that are harmful to the environment. If your phone, for example, reaches a landfill, chemicals like mercury and lead can seep through and contaminate the soil. Burning or incinerating it, on the other hand, will release said hazardous chemicals into the air.

Proper disposal of e-waste is a must because by doing so, we are not only preventing hazardous chemicals from polluting the soil, sea, and air, but we are also saving natural resources.

Also read: Redefining customer engagement via real-time interactivity

Ninety-eight per cent of components of electrical devices are recyclable. By properly recycling e-waste, mining for natural resources such as copper and aluminium will reduce, jobs for facilities that process recycling will increase, and prices for gadgets and devices will decrease over time.

Think about the impact you can make by making conscious choices. It’s not about giving up technology; it’s about using it responsibly. From recycling old devices, choosing products with sustainability in mind, and designing your business operations to accommodate the life cycle of your products,  you have the chance to shape a greener future. It’s about leaving a legacy of responsible consumer habits for the generations that follow.

Igniting change with the Youth E-Waste Ambassador Program

Imagine a future where the legacy you leave behind is one of positive change. As you step into the e-waste revolution, you’re joining a movement that’s bigger than any individual. Your story is woven into the fabric of this revolution – a story of empowerment, action, and hope. Your commitment today paves the way for a sustainable tomorrow.

You have the power to lead the charge against e-waste. You’re not just a bystander; you’re an advocate for change. By raising awareness about e-waste and its solutions, you’re influencing your peers, your community, and even the world. Your voice matters, and it’s time to let it be heard.

Also read: e27-Visa partnership fosters corporate-startup collaborations and growth

YEAP, or the Youth E-Waste Ambassador Program, is an initiative organised by e27 to help increase awareness of the problems, challenges, and solutions of e-waste, and empower the Singaporean youth to lead the e-waste revolution by providing resources and a platform for their voices to be heard.

So, let’s make this a story worth telling. Let’s pull the plug on e-waste and be the catalysts for change. Together, we’re shaping a world where gadgets and sustainability coexist. Your journey begins now. Are you ready to take the lead?

Join YEAP.

To be a youth ambassador, click here.

Be a YEAP partner and help us change the world. Click here for partnership opportunities.

For more insights on e-waste, and updates on upcoming programs and activities, follow YEAP on Instagram and Facebook.

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The Indonesian fintech space saw a 46 per cent decline in the number of funding secured in the first half of 2023, according to a report by global SaaS-based market intelligence platform Tracxn.

“While 2021 marked the peak of fintech funding, subsequent years have witnessed a decline. Funding in the fintech sector fell by 46 per cent in 2022 compared to the previous year, with the first half of 2023 experiencing a 38 per cent drop in funding compared to the second half of 2022. This decline has led to the least funded half-year period (H1 2023) since 2020,” the report elaborates.

Fintech startups in Indonesia raised a total of US$322 million in H1 2023, marking a sharp decline of 71 per cent and 38 per cent when compared with US$1.1 billion in H1 2022 and US$517 million in H2 2022, respectively.

The number of funding rounds also saw significant reductions, with a 26 per cent and 58 per cent decline compared with H2 2022 and H1 2022, respectively.

The tally of funding rounds documented in H1 2023 amounted to 14, which was lower than the 19 observed in H2 2022 and notably lower than the 33 seen in H1 2022.

Also Read: Blockchain disruption, EV roaming network, healthcare collaborations, and fintech expansion make waves in SEA

The report also noted that none of the companies from the Indonesia fintech space secured a unicorn status in H1 2023, while H2 2022 witnessed two unicorns.

While the downward trend was observed in seed stage investment, according to the report, this drop in funding is largely due to the significant decrease in late-stage funding. The first six months of the year witnessed late-stage investments worth US$275 million, a drop of 59 per cent and 41 per cent when compared with H1 2022 and H2 2022, respectively.

“As a consequence of the global macroeconomic slowdown, investor sentiment has been cautious, affecting funding across regions, which has led many Indonesian startups to focus more on their domestic market. However, despite the recent challenges, long-term prospects for the sector remain optimistic,” the report stated.

Another notable piece of information from the report named Jakarta as the Indonesian city that dominated the fintech funding landscape with 95 per cent of the funding raised during the period, closely followed by Surabaya with the remaining five per cent.

East Ventures, AlphaTrio and Sovereign’s Capital were also named as the most active investors in the Indonesia fintech space in H1 2023.

Also Read: FOMO acquires CapBridge, 1exchange to expand its fintech solutions

Supporting the fintech ecosystem

In order to strengthen the fintech sector’s overall health, the report highlights the importance of regulations.

“Several regulations from the Indonesian government have been implemented in P2P lending to curb unethical and financially unsound practices, by introducing new capital requirements, reworking the licensing regime, and introducing minimum equity requirements. We anticipate that these actions will benefit both customers and startups in the industry, helping to strengthen the sector’s overall health,” it said.

Recently, a venture capital (VC) association in the country also released a report and recommendation to support VC funding in the ecosystem. It included elements such as education and a clear division between the categories of startup investments.

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Image Credit: RunwayML

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As the world becomes more complex and interconnected, the need for insurance has become increasingly important. However, many people still lack adequate insurance coverage, particularly in developing countries.

Fortunately, Artificial Intelligence has the potential to increase insurance penetration by making insurance more accessible and affordable for everyone.

Here are just a few ways in which AI can help increase insurance penetration.

Improving risk assessment

One of the key challenges in insurance is accurately assessing risk. AI can help by analysing vast amounts of data on individuals and businesses to identify risk factors and predict the likelihood of a claim. This can enable insurers to offer more personalised and accurate policies, making insurance more accessible to a wider range of people.

Example: Coherent Spark’s AI-powered core parses spreadsheet coding logic into APIs that integrate with any platform. With this tool, insurers can automate many processes, including risk modelling and back-office actuarial calculations, among many others.

Enhancing underwriting efficiency

Underwriting is the process by which insurers evaluate and price insurance policies. This process can be time-consuming and expensive, particularly for complex policies. AI can help by automating much of the underwriting process, reducing costs and enabling insurers to offer policies more quickly and efficiently.

Example: Artificial Lab aims to make the complex insurance underwriting process frictionless, with its single automated platform helping insurers to underwrite faster while reducing loss ratios.

Streamlining claims processing

Another key area where AI can make a difference is claims processing. AI can help insurers identify fraudulent claims more quickly and accurately, reducing the costs associated with fraud and enabling insurers to process legitimate claims more quickly. This can improve the overall customer experience and increase the likelihood that customers will renew their policies.

Example: sprout.ai is building a platform that helps insurers deliver fast and accurate claims decisions. With the platform, insurers can process claims in minutes at a 97 per cent accuracy level.

Enabling personalised pricing

Traditionally, insurance policies have been priced based on broad risk categories. However, AI can enable insurers to price policies more accurately based on an individual’s specific risk profile. This can make insurance more affordable for low-risk individuals and businesses while still ensuring that high-risk individuals and businesses are adequately covered.

Example: Igloo Insure’s dynamic pricing model and real-time risk engine help businesses ensure that their customers enjoy competitive rates based on their risk profiles.

Also Read: Levelling the playing field: How AI can transform SME hiring

Enhancing customer engagement

Finally, AI can help insurers improve customer engagement by offering personalised recommendations and advice based on an individual’s specific needs and preferences. This can help insurers build stronger relationships with their customers and increase customer loyalty over time.

Example: Assurance IQ (acquired by Prudential Financial) uses AI to sell personalised insurance products. The company uses AI and data collection to make personalised recommendations based on general questions about medical and lifestyle habits.

Of course, there are also potential risks and challenges associated with the use of AI in the insurance industry, including issues related to data privacy, security, and bias. However, these challenges can be addressed through careful planning and the development of appropriate regulatory frameworks.

Ultimately, the benefits of AI in the insurance industry are too great to ignore. By leveraging the power of this transformative technology, we can increase insurance penetration, making insurance more accessible and affordable for everyone. This, in turn, can help mitigate the financial risks associated with unexpected events, promote economic stability, and improve the overall quality of life.

Parting thoughts

At Cathay Innovation, we’ve invested in startups around the globe, developing innovative solutions for the insurance industry from Coherent, Igloo, Lifepal and Yuanbao Insurance in Asia, Descartes Underwriting, Qover and Coverfy in Europe and Sidecar Health in the US.

We’re also backed by some of the largest financial institutions and insurers, such as BNP Paribas Cardif, who are not only investors but strategic partners closely working with us and our portfolio companies to bring innovation to life in the real world. 

What’s become clear is that the potential of AI to increase insurance penetration is significant, and insurers that embrace this technology stand to gain a competitive advantage in the marketplace.

By improving risk assessment, enhancing underwriting efficiency, streamlining claims processing, enabling personalised pricing, and enhancing customer engagement, AI can help insurers create a more accessible, affordable, and personalised insurance experience for all.

Building in the space? Feel free to reach out.

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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

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

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On Monday, the Association of Indonesian Venture Capital and Startups (AMVESINDO) released a report that revealed the performance of venture capital (VC) investments in the country in the first half of 2023. According to the report, the Indonesian VC industry saw consistent growth, with investments reaching IDR27.35 trillion (US$1.7 billion) in June 2023.

A combination of conventional and Sharia-based VC investments, the number was an increase from December 2022’s position of IDR25.94 trillion.

As seen in the following graphic (in IDR trillion), with the blue graphic representing conventional VC and the red graphic representing Sharia-based VC, the steady increase signifies investors’ trust in the potential of the Indonesian tech startup ecosystem, despite back-to-back global crises.

Also Read: Looking east: Why the future of VC investment is beyond the Silicon Valley

The number of VC firms operating and investing in Indonesia also remains consistent at 55 organisations.

According to AMVESINDO Chairman Eddi Danusaputro in a press statement, this signifies positive movements in the industry.

“However, there is still a need for a pentahelix collaboration between involved parties, including the government and VC firms, in order to achieve stronger and more exponential growth,” he said.

In order to achieve that, AMVESINDO proposed five recommendations to support the growth of the VC industry in Indonesia:

1. The association calls for separating the category of VC firms from financing firms. This separation is based on the consideration that the role of VC firms in Indonesia is still relatively small in the non-bank financial industry
2. The association also calls for a separation between VC firms that focus on financing and those that focus on equity participation, completed with different sets of regulations for both categories
3. The association highlights the need for incentives, stronger regulation and licensing, and education to promote VC investments to local investors
4. The association also aims to encourage regional VC firms to conduct more equity participation investments
5. The association supports collaboration to strengthen the VC investments industry through education and certification

e27 noted in a recent listicle about the Indonesian startup ecosystem that VC investments in H1 2023 were mostly dominated by early stage startups in various verticals. There are also a number of acquisition and international expansion moves made by Indonesian startups, which were previously known to put a stronger focus on the local market.

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Image Credit: RunwayML

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Amidst the AI revolution, e27 presents a new series showcasing how organisations embrace AI in their operations.

As the Managing Director of Equinix South Asia, Yee May Leong oversees its business strategy in the region, including its sustainability initiatives. Her role involves advancing the digital transformation of businesses to align with Singapore’s ambition to become a leading digital hub in Asia.

Leong joined Equinix in 2019 and brings over 35 years of ICT experience working in companies such as IBM, Lotus, F5 Networks, and Orange Business Services. She earned a Bachelor’s Degree in mathematics, specialising in computer science, from the University of Waterloo in Canada and completed an advanced management program at Harvard Business School.

In this edition, Leong shares how Equinix has embraced Artificial Intelligence.

Edited excerpts:

How do you perceive the AI revolution and its potential impact on your industry and workforce?

There are many ways to look at Artificial Intelligence. From our business perspective alone, AI has a significant impact and is transforming how we conduct business. It has improved our efficiency by automating some of our internal processes, continually driving innovation from many of our teams and enhancing our customer experiences.

From the perspective of what we solve for our customers, AI requires another ecosystem to meet ESG and innovation needs. The current generation of generative AI requires a large amount of data or capacity — it needs quality datasets to contextualise and learn from.

At the same time, processing all that data requires significantly higher levels of parallel computing power than conventional workloads, which creates infrastructure management challenges. Platform Equinix is designed to help IT infrastructure teams tackle those challenges, freeing their organisational resources to realise the value of AI solutions quicker.

AI has the potential to spur innovation and unravel efficiencies in every corner of business or industry. Organisations must learn and adapt to AI or lose their competitive edge in the long run. Simply put, an organisation with a more efficient AI-enabled workforce will be an overwhelming force against competitors.

All this starts from understanding how AI can help their business to build the right digital infrastructure to support those data, AI applications and ESG needs. Identifying the right partners with green data centres and fast interconnects is just as important.

Can you share specific examples of how AI has been integrated into your workforce to streamline operations or drive innovation?

We use AI in multiple contexts in our operations. Even before the pandemic, Equinix had implemented an AI-powered chatbot to assist its employees in resolving IT issues.

By using the chatbot to analyse problems, from password issues, unlocking accounts, filling out forms, or finding conference rooms and more, employees can save time on these tasks and focus on more rewarding projects. If not resolved, the queries are rerouted to the right experts with a 96 per cent accuracy that it reaches the right group.

Artificial Intelligence is also tied to our business transformation, particularly in forecasting. For example, once a data centre is built, we use AI to predict its capacity, which then helps us optimise our workforce, inventory and, most importantly, energy resources needed for the infrastructure.

We also encourage customers’ adoption of AI, including automation processes and management of their IT equipment. For example, we offer automated notifications to remind customers to clean their data centre cages properly and comply with safety policies. This keeps customers informed about protecting their equipment and maximising energy efficiency.

Also Read: The value for biz lies in how humans, AI will enhance each other’s strengths: Mixpanel CEO

We also provide automated interconnection opportunity maps. These allow our customers to maximise the value proposition from Platform Equinix® and make the most of our robust, global network.

What challenges or concerns did you encounter when implementing AI technologies within your organisation, and how did you address them?

AI has become more prominent recently, thanks to the ChatGPT boom last year. But Equinix has long realised the importance and power of AI as it has become one of our foremost business imperatives for a while now.

One of our challenges was around talent. Finding and grooming the right talents took us some time, and we are not alone. According to ManpowerGroup, a staggering 77 per cent of employers are experiencing difficulties filling job vacancies, marking the highest talent shortage in 17 years.

In Singapore, according to a recently released report on job vacancies in 2022 by the Ministry of Manpower (MOM), software and applications managers ranked sixth, whilst systems analysts ranked eighth in terms of vacancies.

We have always believed that investing in tech talents will pay off. Therefore, we have implemented several programs dedicated to employing and upskilling our existing talent pool on AI technology so that they could creatively develop, troubleshoot and ensure the process falls within regulatory guidelines and practices.

How do you ensure transparency and uphold ethical considerations in using AI technologies within your organisation to mitigate privacy concerns?

Equinix believes that the responsible approach to AI is rooted in integrity. Firstly, data security and privacy are key so that the AI data inputs are clean and not corrupted. Meanwhile, good data compliance and governance are necessary layers of soundboard and transparency to ensure good-quality datasets. This is because the data, computation, and quality of context in the data affect the outcome of the result.

We lay the foundation with our team to uphold this practice because we are dedicated to using AI models to maximise business value for our customers.

How do you envision the future collaboration between humans and AI? What role do you see AI playing in augmenting human capabilities?

At Equinix, people and AI are complementary to each other. The creativity and innovation behind the technology or solutions come from humans, while AI amplifies those solutions to scale and at speed. Similarly, we will need more talent in the workforce to better understand AI. Our vision is for an efficient AI-enabled workforce rather than a workforce filled with AI applications.

Also Read: AI has its advantages but it can never fully replace humans: Asnawi Jufrie of SleekFlow

As more of the world looks to bridge the gap between human capabilities with the advancement of AI, we believe companies will look to Everything as a Service (XaaS) to support their digital AI transformations. XaaS platforms provide seamless access to AI as a service hosted on cloud infrastructure and a growing suite of software tools and digital solutions that can be utilised on demand.

Our Platform Equinix runs on high-performing distributed AI infrastructure to enable IT teams to overcome AI complexity and manage massive data volumes, freeing up business units to focus on critical work.

We believe a world where humans can leverage AI to achieve objectives in a much shorter phase is already possible. With further innovations and developments, we look forward to how human ingenuity can enable more industry-changing solutions when augmented by AI.

What advice would you give to other company founders looking to leverage Artificial Intelligence in their workforce?

AI can improve many internal processes in the back office, enabling employees to focus on higher-value needs. Similarly, AI enables organisations to find fit for roles without bias, meaning businesses can find the best talent for the job.

Ultimately, it is a journey. This journey is limited only by our own imaginations. Like any past technological advancement, Artificial Intelligence is only a tool to help us achieve our goals.

In summary:

• Understand and appreciate how AI can help you achieve those goals
• Plan and develop the right infrastructure and talent within your organisation
• Look for the right partners to help you reach goals at scale and speed

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

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Here at e27, we get things done.

Known to many as an ecosystem enabler and a leading platform for startups, tech companies, investors, and innovators, e27 has cultivated a dynamic ecosystem that fosters connections, insights, and opportunities. Its wide-reaching network spans media, events, and community engagement, making it an ideal partner for companies aiming to amplify their reach and influence in the tech and business world.

China Mobile International Limited (CMI) is a great example of an organisation that has leveraged e27’s network and harnessed its wide reach to shed light on important topics today. A visionary enterprise, CMI recognised the need to propel its industry transformation and drive digital intelligence to the forefront of its operations. With this in mind, they introduced iSolutions — an all-encompassing enterprise solution designed to streamline processes, enhance efficiency, and provide actionable insights through data-driven strategies, operating as a one-stop shop for businesses undergoing digital transformation.

e27’s strategic role in emboldening iSolutions

Understanding the potential of iSolutions, CMI sought a partner that could help them reach the right audience and communicate the value of their offering in ways that will translate to tangible results. This is where e27’s expertise came into play. By collaborating with CMI to craft an insightful and engaging article on iSolutions, e27 harnessed its platform’s reach to generate massive visibility for the solution.

The article, carefully crafted by e27’s team, delved deep into the goals of the iSolutions Carnival, a program where CMI ran a series of special offers that allow enterprise customers to experience comprehensive iSolutions services that seamlessly integrate cloud-network, IoT, industrial solutions, and other leading technologies.

Also read: Redefining customer engagement via real-time interactivity

The media campaign spearheaded by e27 highlighted how the solution addresses industry pain points, offers innovative solutions, and sets a new standard for digital intelligence. The article showcased iSolutions’ real-world impact by employing a data-driven approach, substantiating its potential to transform businesses across various sectors. CMI hoped to convey their commitment to supporting its customers in their digital-intelligent journey with richer and tailored solutions while facilitating them to capture business opportunities brought by the metaverse and other emerging technologies — something that e27 was able to capture and simplify for its audience.

Amplifying China Mobile International’s message

Once the article was published, e27 activated its formidable promotional channels to ensure the message reached a vast and relevant audience. The article was featured across e27’s public channels, including its website, social media platforms, and newsletters, enabling CMI’s message to penetrate different corners of the tech and business ecosystem.

The impact was nothing short of remarkable. The article garnered over 10,000 page views, demonstrating a strong resonance with e27’s audience. The ripple effect of the article’s promotion was further evidenced by the impressive 196,000 impressions that the campaign received on the e27 website during this period.

e27’s strategic approach to social media promotion also helped significantly amplify CMI’s message.

Beyond the Numbers: Catalysing digital transformation

While the quantitative metrics are undoubtedly impressive, the impact of e27’s collaboration with CMI transcends mere numbers. The article’s success resonated with CMI’s overarching goal of accelerating industry transformation and embracing digital intelligence. By leveraging e27’s platform, CMI was able to effectively communicate iSolutions’ potential to a broader audience, influencing business leaders, decision-makers, and innovators to explore the transformative capabilities of the solution.

Also read: e27’s partnership with Visa yields success for the leader in payments solutions

The strategic partnership between China Mobile International Limited (CMI) and e27 exemplifies the deep impact that effective content marketing and collaboration can have on promoting transformative solutions. Through an insightful article that highlighted the potential of iSolutions and simplified its message to a diverse audience, e27’s platform became a catalyst for CMI’s goal of accelerating industry transformation and embracing digital intelligence. The article’s remarkable engagement metrics underscored the power of e27’s reach and influence. At the same time, it solidified CMI’s position as a leader in digital transformation across the Southeast Asian region.

The collaboration between CMI and e27 serves as an important case study for businesses looking to propel their offerings onto a global stage. By harnessing the capabilities of strategic partners and platforms like e27, enterprises can showcase their innovation and drive meaningful industry-wide change. As technology continues to reshape industries, partnerships that amplify transformational narratives will be key to shaping the business landscape of the future, and e27 can be the partner you need to drive that change.

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We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Singapore-based solar-as-a-service startup Solar AI Technologies has secured US$1.5 million in a seed funding round led by Earth Venture Capital with participation from Undivided Ventures, Investible, and climate-tech angel investor David Pardo.

The funds will primarily be used to upscale its rent-to-own (RTO) solar programme in the island nation before embarking on regional expansion in the next 12 months.

Started in 2020 by Chew (CEO), Gérald Chablowski (CTO), and Luke Ong, Solar AI seeks to make rooftop solar accessible and hassle-free for smaller, underserved property owners by providing them with zero upfront cost.

Its primary product is its RTO solar programme, which enables customers to own a solar panel system with zero upfront cost, paying a flat monthly fee for installation, maintenance, servicing, and energy generation guarantee.

Compared to the traditional solar offer that demands an upfront cost of US$15,000 to US$50,000, the startup’s RTO model helps de-risk solar as a renewable energy solution, particularly in Southeast Asia, with a penetration rate of less than 1 per cent.

Also Read: This startup aims to make rooftop solar accessible to smaller households with zero upfront cost

Since the global energy crisis, grid electricity prices within Southeast Asia have increased by close to 30 per cent, alongside increasing policy support and market demand for renewables. However, more than 95 per cent of rooftops in Southeast Asia still do not have access to zero-upfront or leasing options for solar, which can contribute more than 200 megatons of carbon emission reductions per year.

Solar AI charges customers a fixed monthly fee (usually lower than their electricity bill savings) in the RTO model — a prominent model executed by sunrun in the US and Enpalin Germany. When a customer is enrolled in the RTO programme, he/she will get free daily monitoring and maintenance. It will then convert the ownership after the contract period.

If a customer decides to shift to a new location, the startup will assist him/her in transferring the service to the new homeowner.

“Investing in Solar AI Technologies allows Earth VC to support the hyperscaling of solar installation in Southeast Asia through the RTO model that will address pressing environmental challenges,” said Linh Nguyen, General Partner of Earth Venture Capital.

“There is a huge amount of untapped potential for both residential and commercial solar-as-a-service throughout Southeast Asia. The traction and robust pipeline Solar AI team have achieved to date is a strong indicator for their ability to be a leader throughout the region as its development continues to accelerate,” added Ben Lindsay, Investment Manager at Investible.

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Image Credit: Solar AI Technologies.

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In the present fundraising climate set against the backdrop of a tech market slowdown, founders across Asia are under increased pressure to secure investments.

Startup fundraising across Asia’s key markets — Southeast Asia, India, and greater China — all fell in the second quarter of this year, compared with a year ago, according to recent data.

Amidst 2022’s decline in investments across Asia, startups found themselves navigating rough waters, resulting in significant layoffs. In response, banks like HSBC have been supportive, offering dedicated credit lines to top tech firms in the region, including Singapore-based superapp operator Grab.

Yet, as investors become increasingly results-driven, demanding rapid deliverables, a significant number of startups are exploring alternative paths to early-stage growth.

Bootstrapping, characterised by starting a business with personal savings, borrowed funds, and self-generated revenue, can provide a strong foundation for startups in Asia’s challenging market conditions.

Bootstrapping: A compelling choice for Asian startups

Bootstrapping is not just a funding choice — it’s a strategic one.

India, a global startup hub, boasts successful bootstrapped companies like SocialPilot, a social media marketing tool launched in 2014, and HappyFox, a customer support software solution founded in 2011.

Meanwhile, Singapore’s edutech firm KodeKloud reported an annual recurring revenue of US$5 million in the first half of 2022. Just recently, Maneuver Marketing made headlines in the tech scene after announcing US$340 million in sales since bootstrapping in 2018.

Also Read: Bootstrapping allows Inmagine flexibility to respond to changing market conditions, client needs

Bootstrapping offers a unique appeal to startups in Asia because of the region’s distinct market characteristics, cultural nuances, and entrepreneurial spirit. 

It’s no secret that external funding can come with strings attached, including set milestones, specific growth targets, or particular strategic directions. In uncertain times, this can be restrictive.

Bootstrapping, on the other hand, grants founders the autonomy to dictate the financial trajectory of their startups, at least during the starting phase. With full control, they can pivot strategies and eventually explore innovative approaches like turning their customers into investors. This focus on generating real revenue from satisfied customers can be an asset when investor money is hard to come by.

Without the pressure to achieve rapid growth at all costs, bootstrapping gives startups the opportunity to focus on sustainable and organic growth, ensuring they remain profitable or at least have a clear path to profitability. This focus can provide stability during market downturns.

Bootstrapping during these periods allows founders to avoid diluting their shares prematurely. Moreover, when external investments are scarce, there’s a risk of startups accepting unfavourable valuations just to secure funds. Such overvaluations or “down rounds” can harm the startup’s reputation, morale, and future fundraising prospects.

Bootstrapping allows founders to preserve their equity, which can be beneficial in the long run. So, when the time bootstrapped startups do seek external funding, they’re often in a better position to choose partners who align with their vision and values rather than being forced into a partnership due to financial desperation.

While the short-term challenges of 2023 loom large, the choices made during this period can shape the long-term future of Asia’s startup ecosystem. In the end, if a business can survive and even thrive while bootstrapping during this funding winter, it’s a testament to its viability. This resilience can be a powerful narrative when seeking future investments, partnerships, or even during acquisition talks.

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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

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

Image credit: Canva

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In the dynamic world of finance, Southeast Asia has emerged as a hub of innovation, and the payments sector has witnessed rapid growth over the past few years. The Southeast Asian payments landscape has been experiencing this seismic shift, driven by a surge in smartphone penetration, an explosion of e-commerce, and the rise of digital banking. However, navigating this complex environment requires a deep understanding of local nuances and a willingness to collaborate with emerging players in the industry.

Riding this wave of transformation, global payment giant Visa found a strategic ally in e27, a tech media platform and community-builder in the Asian tech ecosystem. As a leader in payments, Visa understands the important role of startups and the fresh brand of innovation they bring to the development of the payments sector. Conversely, this is the same impetus with which Visa understands the equally crucial role they play in catalysing such innovations into the broader market.

Through an array of strategic partnerships with startups and a series of impactful media marketing campaigns that helped introduce the Visa Accelerator Program, e27 has significantly bolstered Visa’s presence in the Southeast Asian region, putting a spotlight on the payment leader’s efforts of catalysing growth, innovation, and accessibility within the payments sector.

e27 and its role in solidifying Visa’s presence in Southeast Asia

e27, known for its role in connecting, educating, and empowering the tech community in Southeast Asia, emerged as a crucial partner for Visa’s expansion in the region. Through its flagship events, media coverage, and community engagement initiatives, e27 has become the nexus of innovation and entrepreneurship, making it an ideal collaborator for a payments giant seeking to tap into the region’s vibrant tech ecosystem.

e27’s deep-rooted connections and insights into the Southeast Asian startup scene proved instrumental in bridging Visa together with innovative fintech startups. These partnerships have enabled Visa to tap into cutting-edge solutions that address challenges ranging from cross-border payments to financial inclusion. By leveraging e27’s network, Visa has successfully navigated the diverse markets of Southeast Asia and strategically aligned with startups that align with its vision of a more connected, efficient payments landscape.

Also read: Early-stage startups get a special boost through the Alpha-X initiative

With startup collaborations being Visa’s central goal for the project, e27’s media marketing campaigns helped spotlight Visa’s journey and contributions in Southeast Asia. Through a series of articles, interviews, and other media assets, e27 not only showcased Visa’s commitment to fostering innovation and bridging gaps in the payments sector but also helped shape the region’s understanding of exactly what makes Visa one of the world’s most reputable payment solutions providers.

Generating over 335,000 banner impressions on the e27 platform, over 632,000 reach on targeted social media postings, and over 12,000 clicks on Facebook, Visa can solidify its presence not only in the region but also to a dedicated audience of startup tech founders, investors, and other stakeholders.

Promoting the Visa Accelerator Program

Central to this spotlight was the Visa Accelerator Program, a groundbreaking initiative aimed at accelerating the growth of fintech startups while leveraging Visa’s extensive resources. e27 played a pivotal role in helping Visa launch the program in the region and bringing it to the forefront of the tech community’s attention. Through a meticulously crafted media campaign, e27 created buzz around the program, attracting startups eager to be part of this transformational journey.

At its core, the Visa Accelerator Program is Visa’s way of bringing together both startups and corporates to help the payments landscape innovate. Through the program, not only did Visa highlight the exciting innovations of different fintech startups but also enabled corporates to provide the necessary support and resources to help materialise such innovations — a synergy of multiple players working together to address gaps in the market.

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e27’s media marketing expertise was evident in the series of articles we produced dedicated to Visa’s partnership with startups through the Accelerator Program. These articles provided insights into the challenges being addressed, the solutions being developed, and the impact on Southeast Asia’s payments landscape, highlighting startups that leverage their partnership with Visa to bolster their services, important trends in the payments sector to watch out for, as well as the crucial role of corporates in pushing for growth and innovation.

Through this partnership, Visa hopes to break the old ways of thinking that corporates and fintech startups are competitors against each other and instead, can collectively harness the power of innovation to create lasting impact across the payments space. Moreover, by sharing success stories of startups that have benefited from the program, e27 effectively demonstrated Visa’s commitment to nurturing innovation and driving positive change.

Beyond articles, e27 capitalised on various media assets, including media content published across the e27 platform as well as e27’s social media channels, all to engage a wider audience. The use of such visual content helped simplify complex fintech concepts, making them accessible to a broader range of readers. e27’s role in such a partnership also underscored the Visa’s dedication to promoting financial inclusion and fostering innovation. By sharing stories of startups focused on providing banking solutions to the unbanked and underserved populations, e27 helped position Visa as a catalyst for positive change in the region.

A partnership for the books

e27’s strategic collaborations with startups and well-executed media marketing campaigns have been integral to elevating Visa’s presence and influence. By acting as a conduit between Visa and the Southeast Asian tech ecosystem, e27 facilitated partnerships that addressed gaps in the payments sector. Through its series of articles and media content, e27 shone a spotlight on Visa’s efforts, particularly the Visa Accelerator Program, helping to drive awareness, engagement, and innovation.

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This collaboration stands as a testament to the power of partnerships and innovation. By connecting Visa with startups through strategic partnerships and spearheading the Visa Accelerator Program, e27 has played a pivotal role in enhancing Visa’s presence in the region and fostering a culture of innovation, inclusivity, and collaboration within the Southeast Asian tech ecosystem.

As both e27 and Visa continue to evolve and adapt, their partnership remains a shining example of how strategic partnerships and effective media campaigns can synergise to create a lasting impact. With e27’s continued support and Visa’s dedication to innovation, Southeast Asia’s payments landscape is poised to experience a revolution that embraces accessibility, inclusion, and technological advancement, propelling the payments sector toward a more interconnected, accessible, and innovative future.

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AntsBees, an artificial intelligence (AI) and robotics automation solutions provider in Malaysia, has earmarked up to RM4 million (US$860,000) to invest in tech startups wanting operational growth.

The firm tends to favour startups that are focused on the industries of education, healthtech or any field that could contribute to the AI technology ecosystem.

“We are keen to extend our expertise and platforms to startup companies and extend financial aid to grow together. Having been in the market and enabling digital transformation for organisations, we would like to invest in or acquire new businesses related to Industry 4.0 and doing so, further strengthen our position towards becoming a stronger tech-conglomerate,” said Dr Priscilla Prasena, Group CEO of AntsBees.

Also Read: AI is not about job displacement but job augmentation: Nick Eayrs of Databricks

Additionally, AntsBees is planning to list on the Ace Market of the Singapore Stock Exchange. The IPO proceeds will be used to cover its working capital, expansion ambitions, and development needs in one strategic move.

“By going public, we believe there is much to gain. There would be better regulation of the company, increased liquidity, a higher level of confidence for our investors and naturally, much better visibility in the market.

Established in 2012, AntsBees provides solutions, development, and training in Big Data, project management data analysis, AI, and digital marketing as part of Industry 4.0. It helps clients manage and derive useful insights from the amounts of structured and unstructured data.

AntsBees, currently valued at US$17 million, has four subsidiaries: Prestine International (a learning and development arm of its parent company focusing on AI and manufacturing science skilled courses), Votratec (a technical and vocational education and training college), PERPETUUTI, and MYCoachingHub (a sports analytics centre).

AntsBees is also working towards setting up its Asia Pacific (APAC) hub in Singapore by September 2023 and readying its headquarters in the US by this October.

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