Companies around the world have been impacted by a chain of catastrophic market events over the past few years. From the COVID-19 pandemic to the US banking crisis, ‘black swan events’ have been thrust into the spotlight. Popularised by economist Nassim Nicholas Taleb, the term black swan events describes unpredictable one-off events with severe consequences.

One such example is the financial aftermath of the pandemic. Despite a lengthy three-year recovery period,  Asia’s growth is expected to decline to 4.2 per cent in 2024  — the lowest in the past two decades (apart from 2020).

With increasingly frequent macroeconomic shocks, companies must prepare for disruption to be part and parcel of everyday operations. Considering the high-interest rates and the slowdown of two of the world’s largest economies, China and the United States, 2024 may turn out to be another year of market turbulence.

It’s time for businesses to consider black swan events as something to be expected. In 2024, small- and medium-sized businesses (SMBs) and large enterprises must consider how they can strengthen their business resilience and navigate the era of a poly-crisis world.

Building a borderless workforce

For companies to thrive and scale in this new era of business, companies and their leaders that shift away from traditional business models and embrace a global mindset will be better set to capitalise on future growth opportunities. According to recent survey findings, 66 per cent of leaders worldwide stated having employees in multiple countries is part of their business strategy, including 28 per cent who say it is central to that strategy.

Also Read: The growth of business messaging: How it’s improving business performance in Southeast Asia

In an increasingly volatile world, tapping into global talent pools is not only a way to increase diversity but also a survival strategy.  An ‘anywhere workforce’ means businesses can reduce over-reliance on a specific type of talent and have better access to the skill sets they need, regardless of location.

When employees are equipped with a broader range of skills and work across multiple locations, businesses are no longer confined to a specific market and become more resilient against frequent business disruptions.

The same survey also found that employees prefer to work in global teams — 93 per cent of Singaporean employees want to work for a global company, and 90 per cent believe that global companies offer more opportunities for their career growth.

Furthermore, it can help increase cost savings and revenue growth; APAC-based pharmaceutical company Amoy Diagnostics (AmoyDX) was able to achieve a revenue of US$13.8 million by the end of 2022 after expanding its talent pool internationally.

Regular scenario planning is imperative

Scenario planning is a strategic tool for businesses to analyse alternate future events and create flexible long-term plans. Against the backdrop of wildly unpredictable and more frequent black swan events, effective scenario planning is increasingly complicated and should be a regular exercise for businesses so they are well-equipped to mitigate risks from potential uncertainties.

Also Read: Financial literacy in Southeast Asia is set to match industry growth

Instead of relying on traditional scenario planning, leaders can turn towards leveraging artificial intelligence technologies as a viable solution to consider possible hypothetical scenarios, evaluate their potential impact on the business, and identify ‘fail-safe’ critical decisions that will spur the business’s growth trajectory.

Forming the right strategic partnerships

Staying ahead of the competition often means accelerating speed to market in today’s business landscape. Navigating and adhering to unique expansion and employment compliance laws and regulations in individual markets can be complicated and time-consuming. In fact, 32 per cent of leaders are deterred from recruiting and hiring in international job markets due to regulatory complexities.

Employment of Record (EOR) partners can support businesses in building global teams and streamline cumbersome and time-consuming processes when entering new international markets. This speeds up the compliance process, allowing businesses to remove entity requirements and overcome different employment regulations.

By tapping a strategic global growth partner with HR, compliance, and legal experts in the region, businesses can better tackle ongoing challenges and accelerate global growth strategies. Through a collaborative approach, businesses can focus more on scalability and expanding their workforce.

Charging full steam ahead

In a globally interconnected world, encountering another black swan event is not ‘if’ but ‘when’. Building a global workforce, prioritising contingency planning, and expanding strategic partnerships are all essential strategies to circumvent everyday business disruptions and build the resiliency needed for long-term success.

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In 2022, Artem Ventures closed the TIM Ventures fund from multinational insurance company FWD Group. Over its first year of deployment in 2023, the fund achieved key milestones, including curating and investing in 12 startups actively working on social impact and financial inclusion issues.

It also created and ran value creation programmes for startups and the wider ecosystem aimed at capacity building and sustainability development.

“We draw from our corporate venture fund and fund-of-funds backgrounds to invest in promising startups at a nimble pace while incorporating high standards of governance in overseeing our startups and operating our funds. Being cognizant of our corporate LPs’ interests allows us to invest with a view of marrying their financial and strategic objectives through startup investments,” Artem Ventures Managing Partner Low Zhen Hui says in an email interview with e27.

“We are also likely the only, or one of the only, VC firms that adopt International Private Equity and Venture Capital guidelines in valuing our investees according to their liquidation rights, financial performance, and market comparable movements.

Artem Ventures is a VC fund management company currently managing a fund in partnership with FWD Group that invests in early-stage fintech and insurtech companies.

Also Read: Malaysia gets US$10.2M fund TIM Ventures to invest in insurtech, Islamic fintech startups

In selecting a potential investment, the company looks at factors such as the startup’s ability to deploy or adopt a strategy to drive impact towards the environment, society, and governance. Artem Ventures has vetted more than 750 companies and helped its portfolio secure further funding, market access, mentors, and advisors.

The company’s principles and approach to its investee companies focus on enhancing their capacity and capabilities to ensure the business can be sustainable and founders can adapt to any business cycle quickly. In this interview, Low explains exciting insights about the Malaysian startup ecosystem and the opportunities that Artem Ventures aims to seize.

The following is an edited excerpt of the interview:

What insight about the Malaysian startup ecosystem can you share with us?

Malaysian founders embody entrepreneurship passion coupled with strong resilience. If you re-examine past investment trends, Malaysia has never received the same fervent attention that markets like Indonesia, Thailand, and Vietnam have at various times.

This meant that our ecosystem is largely funded by local investors while foreign capital passed us by, forcing our startups to make every Ringgit work harder to achieve their goals.

What challenges are faced by startups in Malaysia? And how do you support your portfolio companies in getting through it?

One of the challenges that Malaysian startups generally face is insufficient capital to scale outside the country.

Also Read: How climate tech companies in Asia measure the impact of their work

While Malaysia is a fantastic starter market for startups (high internet connectivity, strong awareness of digital platforms, diverse population, large talent pool, and good ecosystem support), startups that have primarily raised funds within Malaysia eventually run into a chicken-and-egg issue around the Series A or B stages: they need capital to scale across the region, but their growth plan or traction is not convincing enough for foreign investors to put money behind.

Aside from our network of investors outside Malaysia, we aim to solve this innate issue by helping our founders develop a growth plan focused on regional expansion to land an attractive exit eventually.

What will be the most important trend in Malaysia this year? How do you plan to tap into the opportunity it provides?

We are still eyeing the fintech space as issues such as financial inclusion remain largely unaddressed. Embedded fintech will be an important tool for companies with market access to underserved communities and robust data collection and analytics capabilities to assess thin-credit users better.

What major plan do you have for Malaysian startups in 2024?

We are working on our next fund to invest in more tech and also non-tech sectors. We aim to inject more growth capital into the market and extend hands-on capacity building to more startups within our ecosystem.

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Image Credit: Artem Ventures

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Singapore-based chronic disease management startup Mesh Bio has raised US$3.5 million in Series A financing led by East Ventures.

Elev8, Seed Capital, and other existing shareholders also co-invested.

The funding will allow Mesh Bio to offer its digital twin technologies to healthcare providers and scale the deployment of these solutions across Hong Kong and Southeast Asia, mainly Indonesia and the Philippines.

Also Read: Mesh Bio raises US$1.8M seed to help doctors predict diseases before they occur

Dr. Andrew Wu, Co-Founder and CEO of Mesh Bio, said: “Southeast Asia presents myriad unmet healthcare needs, and our focus is to address these gaps effectively.”

The high prevalence of chronic diseases, from diabetes to heart disease, in Southeast Asia has pushed more general practitioners who lack specialist training in endocrinology to manage patients with chronic diseases.

Founded in 2018 by Wu and Arsen Batagov (CTO), Mesh Bio delivers digital solutions to help healthcare providers with patient management. Its solutions offer patient data and predictive analytics that equip doctors with information and intelligence about their patients and the diseases they live with.

The company develops clinical decision support analytics and automation solutions for managing chronic diseases such as cardiovascular disease. Its DARA Health Intelligence Platform enables data-driven care delivery, which improves patient engagement and health outcomes. It has been used by more than 120 medical centres across Singapore, Malaysia, and Indonesia for preventive health screening.

Also Read: WhiteCoat closes a tranche of Series B round, poised to break even in Singapore

This new investment comes three months after the startup received approval from Singapore’s Health Sciences Authority (HSA) to market its HealthVector Diabetes as a Software Medical Device (SaMD). A chronic disease management solution, HealthVector Diabetes is currently used in an implementation pilot at Singapore General Hospital (SGH), Tan Tock Seng Hospital (TTSH), and selected polyclinics for potential clinical adoption.

Mesh Bio previously raised a US$1.8 million seed funding round in October 2021.

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Southeast Asia’s total food delivery spend on platforms grew a modest 5 per cent year-on-year to reach US$17.1B in 2023, mirroring the growth rate observed in 2022, according to a Momentum Works report.

The growth was driven primarily by the region’s smallest food delivery market, Vietnam (+US$300 million or 27 per cent y-o-y), followed by Malaysia (+US$200 million or 9 per cent y-o-y).

Also Read: How a great back-end tech helped GrabFood capture half of SEA’s food delivery pie despite being a latecomer

Thailand and Indonesia registered low single-digit growth, while Singapore’s topline remained flat, according to the ‘Food Delivery Platforms in Southeast Asia” report, which offers in-depth insights into the region’s six core food delivery markets.

With continuous pressure to achieve sustainable profitability, most incumbents have continued to rein in food delivery subsidies and adopt differentiated strategies to compete. As of the end of 2023, Grab is estimated to account for 55 per cent or US$9.4 billion of the region’s food delivery GMV, a 6.8 per cent increase from the year before.

Foodpanda and Gojek are estimated to contribute 15.8 per cent (US$2.7 billion) and 10.5 per cent (US$1.8 billion) of the region’s GMV, a 12.9 per cent and 10 per cent y-o-y decline, respectively.

Shopee and Lineman showed notable growth and are estimated to contribute 8.8 per cent (US$1.5 billion) and 8.1 per cent (US$1.4 billion), respectively, to the region’s GMV.

Key highlights

Premium F&B brands face challenges despite regional spending on F&B recovering: F&B spending in Southeast Asia finally recovered to surpass pre-pandemic levels (US$125.2 billion in 2023 versus US$115.7 billion in 2019). However, many premium brands (notably in Singapore) found the year tougher than 2022, with many resorting to cost-cutting measures amidst macro uncertainties and inflation, which may have heightened price sensitivity among middle-class diners.

Entry of Chinese F&B brands en masse intensifies competition: 2023 saw an acceleration of Chinese F&B brands’ entry and expansion into Southeast Asia. This trend is exemplified by Luckin Coffee’s 30 stores in Singapore and Mixue’s close to 4,000 outlets across Southeast Asia; however, brands in multiple categories and sizes have also established a presence in the region. They have brought their know-how in in-store operations, marketing, user operations and franchise management. Expect more in 2024.

Major players have achieved some sort of profitability: Most major platforms have either achieved or are on track to attain adjusted EBITDA breakeven, with some targeting to achieve positive free cash flow in 2024. But as the Meituan and Uber experiences have shown, profitability might not be a constant state — platforms need to balance growth with sustained profitability constantly.

Also Read: How Ridge aims to introduce AI tech to small businesses in the F&B sector

Food delivery players continue to diverge in strategy, leveraging ads for revenue expansion: Major food delivery players have continued leveraging advertising products to lock in more merchant investments. Platforms are expanding their advertising product portfolios to cater to the distinct needs of various brands, including large F&B chains, small F&B merchants, and FMCG brands.

Room for growth in user base and operational optimisation in the region: Southeast Asia’s leading player, Grab, only has 5 per cent of the region’s population of 600 million as monthly transacting customers. Amid a flat sector topline, untapped populations in major cities, expansion into smaller towns, and catering to tourists present further growth opportunities for food delivery platforms. Platforms can and should also continuously optimise operations to reduce costs and grow their bottom line.

“With robust F&B consumption, low food delivery penetration and ongoing consolidation, there is much room for growth for food delivery platforms in the region. While focusing on their core capabilities, leading players also need to keep an eye on potential market changes and emerging challengers,” said Jianggan Li, CEO and Founder of Momentum Works.

Singapore-based Momentum Works provides insights into the digital ecosystem in emerging markets through research, consultancy, community engagement, and venture building.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post F&B spending in SEA is back to pre-pandemic levels: Report appeared first on e27.

Today, Zora Health announced the launch of its integrated fertility care and financing platform in Singapore, with S$1 million (US$740,000) in funding.

With initial backing from venture capital firm Antler, this funding round includes the participation of angel investors such as Cheryl Goh (Founding CMO of Grab), Prajit Nanu (CEO of Nium), Alan Jiang (CEO of Beam), and Lisa Enckell (Venture Partner, Antler), along with Asa Liden (former COO of Pitch.com).

In a press statement, Zora Health said that 55 per cent of its investor lineup consists of women.

“The fertility treatment landscape is daunting to the women and couples seeking fertility care due to the multitude of service options and providers, complicated regulations and confusing pricing structures. Zora Health’s integrated approach addresses these issues head-on, simplifying the process for patients, healthcare providers and corporations in a fragmented market,” said Anna Haotanto, Founder & CEO of Zora Health.

Zora Health provides a comprehensive ecosystem that integrates virtual and in-person consultations, medical concierge services, fertility education workshops for corporations and fertility financing. The platform’s initial service offerings include egg freezing, in-vitro fertilisation (IVF), fertility testing and consultation services.

Also Read: How Singapore became a leading femtech startup hub in SEA

At a later stage, it also offers fertility financing.

One of its offerings includes programmes tailored for corporate clients seeking to cultivate fertility-friendly work environments and facilitate meaningful fertility discussions.

“Research has demonstrated that addressing fertility concerns can result in a 77 per cent increase in employee retention, with 89 per cent reporting improvements in their mental well-being. Zora Health aims to help employers attract and retain top talent, boost employee productivity, and enhance employee well-being through the implementation of these corporate initiatives,” Zora Health said.

Infertility is an escalating issue, affecting an estimated one in six people, as many as 48 million couples and 186 million individuals worldwide, according to the World Health Organisation.

The company said that it already has a waitlist of more than 180 patients and partnerships with more than 50 clinics in 16 cities in eight countries globally.

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Image Credit: Zora Health

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Singapore-based Silicon Box enables chiplet architecture, allowing chip designers freedom from the constraints of a single, monolithic chip for processing. By leveraging multiple smaller chips interconnected in a single package, chip designers can create the equivalent of a system-on-a-chip (SoC) in a package.

The company recently raised US$200 million in Series B funding from BRV Capital, Event Horizon Capital, Maverick Capital, and others, intending to reshape the semiconductor landscape. The capital will primarily go into expanding production in its US$2-billion packaging factory in Singapore.

In this interview with e27, Michael Han, Silicon Box’s Head of Business, discusses the impact of capital injection on factory expansion and the opportunities and challenges of the company.

Edited excerpts:

How will this substantial capital injection contribute to Silicon Box’s growth and development plans, especially in expanding your advanced packaging factory in Singapore?

Silicon Box brings effective chiplet integration capabilities through our Singapore factory.

Initial Capex to date focused on building the foundry, hiring, and building the first production lines. Now that we have proven the concept and capability with early customers, this capacity is already fully allocated in 2024, which requires us to expedite the build-out of additional packaging capacity in Singapore to support incoming demand. The Series B funding will enable us to meet and exceed our initial plans for capacity build-out in 2024.

Silicon Box focuses on chiplet architecture to overcome scalability limitations in current semiconductor chips. Could you elaborate on how chiplet integration enhances performance, reduces device sizes, and improves reliability, and how it addresses the challenges faced by conventional packaging approaches?

Silicon Box’s advanced packaging capabilities are not limited to chiplets. It brings the most advanced interconnection necessary for chiplets, at scale, through large format manufacturing.

This allows us to replace legacy packaging solutions such as wafer level fan out and quad fan-out no lead (QFN) to support the deployment of advanced applications that are fully reliant on chiplet architecture but also to bring better performance at low power consumption and cost, to applications such as mobile, automotive, data centres, IoT, RF power amplifiers.

Also Read: Silicon Box bags US$200M to expand production in its US$2B semiconductor factory in Singapore

Chiplet architecture in and of itself, especially as offered by a pure-play packaging specialist such as Silicon Box, allows the semiconductor industry at large to overcome the huge technical and cost implications being faced by traditional manufacturing paradigms based on Moore’s Law (miniaturising system-on-chip/SoC) at the foundry level.

Chiplets allow chip designers to design systems more flexibly using modular components at the most efficient cost and effective performance for that functionality. This will enable huge cost and design cycle efficiencies for these customers.

Chiplets seem to facilitate collaboration between foundries and chip designers. How does Silicon Box envision fostering collaboration within the semiconductor industry, and what benefits does this bring to developing cutting-edge applications?

Chiplets facilitate the integration of various chip types, including chips produced using different process technologies and those sourced from different foundries. Combining diverse technologies in a single package brings improved system-level capabilities, performance, design flexibility and cost benefits. The interconnection method itself also enables system designs to run at high energy efficiency with more advanced performance and reliability.

Chiplets being true to its heterogeneous concept means that you can integrate chips from any technology node and various foundries. As a packaging specialist, Silicon Box can enable this mix-and-match approach more effectively, as proprietary data and IP from the foundries can be maintained through the packaging process.

In the future, foundries can focus on competitive advantages at the chiplet level, focusing on improving modular performance rather than miniaturizing entire systems at the foundry level, which meets its limits regarding scale and performance improvement.

How do Silicon Box’s solutions impact the semiconductor industry’s scalability issues, and what benefits can consumers expect in terms of pricing, device performance, and reliability due to your innovations?

Chiplets can be developed independently and optimised for specific functions. Different chiplets can be mixed and matched and tailored for specific applications. This flexibility in chip design reduces time-to-market and allows for efficient use of resources.

Chiplets and how they are packaged are just one of the many components and factors that go into manufacturing a device. For example, our chiplets and packaging method have reduced thermal output, meaning less power is required to cool the device, which translates to lower energy use. And we bring this benefit to front-end manufacturers.

Also Read: Semiconductor manufacturing nations set for growth as AI takes center stage: Alpha Intelligence Capital CEO

The concept of chiplets is already well accepted across the industry, and the current bottleneck is in advanced packaging capability and capacity. We address this bottleneck in capacity, capability, and stakeholder concerns, allowing the whole ecosystem to align on new goals that will empower the semiconductor industry.

Silicon Box aims to bring scalable solutions globally. What is your strategy for global expansion, and are there specific regions or markets where you see a particularly high demand for your advanced semiconductor packaging services?

In addition to bringing the Singapore factory to full capacity, in light of the current shortage and high demand from the front end, we currently see strong solicitation from various governments to explore replicating our Singapore foundry in various locations.

Since our technology can also empower a broader range of applications with a strong concentration in various regions (automotive in the US/China/Europe and mobile in the US and Asia), there is renewed excitement regarding how chiplets may by various companies and support the industrial agenda and semiconductor aspirations for diverse geopolitical blocs.

Silicon Box aims to cater to next-gen large language models, generative AI, automotive, data centres and mobile computing. Could you share insights into the specific applications and industries where you foresee your technologies’ most significant impact and adoption?

Silicon Box is well poised to solve the unique challenge for chiplets, which are essential to power emergent technologies. Our team of experts with over 30 years of experience, a critical ecosystem of partners, and proprietary interconnection technology will shorten the design cycle of chiplets, lower new device costs, reduce power consumption and enable faster-time-to-market for industry partners involved in areas such as artificial intelligence (AI), data centres, electric vehicles (EVs), mobile, and wearables.

Also Read: How Infineon aims to build better semiconductors with the help of Singapore startups

For AI, large language models and automotive applications such as autonomous driving, our solution is necessary rather than optional. Our solutions will allow these technologies to develop sustainably from an investment, R&D and power efficiency standpoint.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Silicon Box’s Business Head on how chiplet architecture transforms semiconductor scalability appeared first on e27.

In an era where environmental concerns are at the forefront of consumer consciousness, startups have a unique opportunity to align their marketing strategies with sustainable practices. This not only appeals to a growing demographic of eco-conscious consumers but also sets a precedent for responsible business operations.

Here, we explore how startups can integrate sustainability into their marketing efforts effectively.

Understanding the eco-conscious consumer

The first step in sustainable marketing is understanding the eco-conscious consumer. This demographic values transparency, authenticity, and ethical practices. They are more likely to engage with brands that demonstrate a genuine commitment to environmental stewardship rather than those who merely engage in greenwashing.

The PwC Global Consumer Insights Pulse Survey from June 2021 highlights a significant global shift towards eco-friendliness, with half of the consumers surveyed adopting greener practices. This trend is particularly strong in the Asia-Pacific region and the Middle East, with countries like Indonesia, Vietnam, the Philippines, Egypt, and the UAE showing high rates of eco-friendly behaviour.

Millennials, especially those aged 27 to 32, are at the forefront of this shift, prioritising sustainability in their purchasing decisions more than other age groups, including Generation Z. This change in consumer behaviour indicates a growing global emphasis on environmental responsibility.

Also Read: Coffeefrom: Brewing sustainability from bean to product

For more detailed insights, the survey results are discussed in the original article on Strategy + Business, which can be accessed here.

Crafting a genuine, sustainable brand story

Your brand story is pivotal. It should authentically represent your company’s commitment to sustainability. This involves more than just stating your eco-friendly practices; it’s about weaving your environmental ethos into the very fabric of your brand narrative. Share your sustainability journey, challenges, and successes. This transparency builds trust and credibility.

Essential components for compelling sustainable narrative

• Being genuine: Embrace authenticity in portraying your commitment to sustainability, steering clear of any semblance of greenwashing.
• Clarity: Illuminate not only your triumphs but also the hurdles encountered on your sustainability path.
• Engagement: Develop narratives that resonate with your audience, motivating them to make a difference or reconsider their decisions.

Some examples of sustainable brands that created a sustainable narrative

Patagonia

Patagonia stands as a beacon of environmental stewardship and ethical business practices in the apparel industry. Renowned for its unwavering authenticity, the company goes beyond mere lip service, actively engaging in fair labour practices and utilising recycled materials.

The firm is not only committed to producing high-quality outdoor clothing but also to inspiring a culture of repair and recycling among its customers. With a transparent approach, Patagonia sets a high standard by openly sharing intricate details of its supply chain and the environmental impacts of its products. 

This transparency is coupled with engaging storytelling campaigns, like the “Worn Wear” initiative, which invites customers to share their experiences with their durable Patagonia gear, thereby emphasizing the value of responsible consumption and deepening the bond between the brand and its community.

• Authenticity: Patagonia is known for its genuine commitment to environmental causes. It actively promotes fair labour practices, uses recycled materials, and encourages customers to repair and recycle their clothing.
• Transparency: The company is transparent about its supply chain and environmental impact. It openly shares information about the materials used in its products and the steps it has taken to reduce its carbon footprint.
• Engagement: Patagonia engages its audience through storytelling campaigns, highlighting the importance of responsible consumption. Their “Worn Wear” initiative encourages customers to share stories about their well-worn Patagonia gear, fostering a sense of connection and sustainability.

Tesla

Tesla, under the visionary leadership of Elon Musk, embodies the spirit of innovation in the pursuit of a sustainable future. At its core, Tesla’s mission revolves around transitioning the world to sustainable energy, primarily through its cutting-edge electric vehicles. This authenticity in its commitment to eco-friendly transportation sets the company apart.

Also Read: How consumers are prioritising sustainability beyond the single lens of eco-friendly products

Tesla maintains a strong stance on transparency, openly sharing details about its carbon footprint and ongoing efforts to minimise environmental impact. The brand excels in engaging with its audience, not just by selling cars but by showcasing the latest advancements in electric vehicle technology and renewable energy. This approach not only demonstrates Tesla’s technical prowess but also motivates consumers to reconsider their transportation choices in favour of a greener, more sustainable future.

• Authenticity: Tesla’s commitment to sustainable transportation is evident in its electric vehicles. Elon Musk’s vision for a sustainable future is a driving force behind the company’s mission.
• Transparency: Tesla is transparent about its carbon impact, continuously working to reduce it. The company’s reports on energy usage and environmental impact contribute to its transparent image.
• Engagement: Tesla engages with its audience by showcasing the technological advancements in electric vehicles and renewable energy. The brand inspires consumers to rethink their transportation choices for a greener future.

Ecoalf

Ecoalf emerges as a pioneering force in the sustainable fashion landscape, driven by a genuine commitment to environmental responsibility. This innovative brand distinguishes itself by transforming recycled materials, such as plastic bottles and abandoned fishing nets, into high-quality, fashionable apparel.

Ecoalf’s approach is grounded in transparency, providing clear insights into their recycling processes and the origins of the materials used in their creations. It ensures that consumers are aware of the environmental benefits derived from their choice of recycled materials.

Engaging actively with its audience, Ecoalf leads impactful campaigns that shed light on the environmental repercussions of conventional fashion practices. Doing so inspires a shift towards more sustainable choices, underlining the positive change that can be achieved through responsible fashion choices.

• Authenticity: Ecoalf is a fashion brand that focuses on creating sustainable and recycled clothing. It uses materials like recycled plastic bottles and discarded fishing nets to produce high-quality, stylish apparel.
• Transparency: Ecoalf is transparent about its recycling processes and the origin of materials. It provides detailed information on the environmental benefits of using recycled materials in their products.
• Engagement: The brand engages its audience through campaigns that emphasize the environmental impact of traditional fashion and the positive change that can result from choosing sustainable alternatives.

These examples showcase how authenticity, transparency, and engagement can be effectively integrated into sustainable storytelling by different brands.

In addition to the strategies mentioned above, there are several other avenues through which you can start embracing eco-conscious practices. These approaches not only align your business with sustainability but also resonate with the growing demographic of environmentally conscious consumers.

Ways to make your startup more eco-friendly

Let’s explore some additional ways to make your startup more eco-friendly and connect with a broader audience of eco-conscious individuals.

Leveraging digital platforms

Digital marketing is inherently more sustainable than traditional print marketing, as it reduces paper waste and the carbon footprint associated with physical distribution. Utilise social media, email marketing, and your website to communicate your sustainable practices and products. Engaging content like behind-the-scenes videos of your sustainable processes can be particularly effective.

Eco-friendly packaging and merchandising

Packaging is a critical component of your product that speaks volumes about your sustainability stance. Opt for materials that are recyclable, biodegradable, or made from recycled content. Moreover, ensure that your merchandising – whether in-store or at events – aligns with your sustainable values.

Sustainable service presentation and branding

For service-based or tech businesses, the concept of packaging takes a different form. It’s about how you present your services and brand in a way that reflects your commitment to sustainability. Instead of physical packaging, focus on digital materials and communication strategies that are eco-friendly. Use digital brochures, e-catalogues, and online portfolios that reduce paper waste.

Also Read: Unlocking a sustainable future: A new model for green building management

When participating in events or trade shows, opt for digital displays and electronic promotional materials. Ensure that all aspects of your service presentation, from your website to your email signatures, embody your sustainable values. This approach not only minimises environmental impact but also resonates with eco-conscious consumers who value digital efficiency and reduced waste.

Collaborating with sustainable influencers

Partner with influencers who are known for their commitment to sustainability. These collaborations can amplify your message and lend credibility to your brand. Ensure that these partnerships are authentic and align with your brand values to avoid accusations of greenwashing.

Sustainable event marketing

If your startup participates in or hosts events, make them as green as possible. This can include digital ticketing, eco-friendly venues, minimising waste, and using sustainable materials for any displays or merchandise.

Measuring and communicating impact

Quantify your environmental impact and share these metrics with your audience. This could include the amount of waste reduced, energy saved, or contributions to environmental causes. Regularly reporting on these metrics not only demonstrates your commitment but also encourages consumer trust and loyalty.

Challenges and opportunities

While integrating sustainability into your marketing strategy presents challenges, such as potentially higher costs and the need for continuous innovation, the opportunities are vast. Brands that successfully adopt sustainable marketing practices can enjoy increased brand loyalty, a positive brand image, and alignment with global environmental goals.

Final thoughts

Sustainable marketing is no longer just a niche strategy; it’s a necessity for startups looking to resonate with modern consumers. By authentically integrating sustainability into your marketing efforts, you not only contribute to a healthier planet but also build a stronger, more resilient brand. As the world becomes increasingly eco-conscious, those brands that act now will be the leaders of tomorrow.

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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

The post From greenwashing to green living: A guide for startups on sustainable marketing appeared first on e27.

The Singapore University of Technology and Design (SUTD) has launched the Baby Shark Fund, a micro-innovation programme aiming to encourage student-led innovation, design thinking, and risk-taking.

The programme, which got its name from the award-winning reality television series Shark Tank, will encourage students to incubate new ideas, innovate through design and dare to venture into uncharted grounds beyond the classroom.

Every student team stands to receive SGD6,000 (US$4,475) as part of the initiative.

Also Read: How this 12-day programme by SMUA equips you to detect potential FTX-like scams in future

It will complement the existing funding options already available to students wishing to pursue more advanced innovation projects, culminating in the formation of startup companies.

The ideology behind the Baby Shark Fund is to upend the way innovation has traditionally been viewed: grandiose, complex and unattainable.

To qualify for the funds, SUTD students in either the undergraduate or masters programmes must form teams of at least two members and present their ideas and projects to a panel comprising faculty as well as industry.

The projects will be evaluated based on the level of innovation and their potential to impact the world.

SUTD President Chong Tow Chong said: “With the new Baby Shark Fund, we hope to provide every student with the opportunity to engage in bottom-up innovation by experimenting continuously. This will hopefully spur them to embark on a lifelong innovation journey of continuous experimentation and risk-taking, and in so doing, champion and lead innovation for society in years to come.”

There will be multiple submission windows throughout the year for students to submit their applications, ensuring that teams are given ample opportunities to seek funding for their projects.

The Baby Shark Fund will be administered by the SUTD Venture, Innovation and Entrepreneurship Office, which has been facilitating entrepreneurial efforts within the university. Project mentors will be appointed to each team, which will also receive venture support and resources as they progress in their innovation journey.

Also Read: Protégé Ventures launches Fund II to support student-led startups in Singapore

Underlying the micro-innovation programme will be a roadmap for SUTD students to gain innovation tools and knowledge from every aspect of their time in the university – known as the SUTD Innovation Journey.

With SUTD Innovation Journey, students can elect to pursue innovation inside and outside their classes, exchange programmes, internships, student life activities and beyond.

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Elice, an AI-powered educational platform company based in South Korea, has raised KRW 20B (approximately US$15 million) in a Series C funding round led by Vertex Growth, a growth-stage VC fund anchored by Vertex Holdings (a subsidiary of Temasek).

Altos Ventures also participated.

Also Read: In this age of digitalisation, is edutech a bane or boon for educators?

The company will use the funds to expand into Asia Pacific, such as Singapore, the US, and Japan and strengthen its AI research capabilities by building a large-scale AI Data centre in Busan, leveraging its experience building PMDC (Portable Modular Data Centre). The centre aims to recruit technology talent with aspirations to hire a large-scale AI workforce in Busan.

Founded in 2015, Elice focuses on delivering an integrated B2B and B2G educational platform and content for institutional clients, specialising in technical skills upgrades to enhance organisational digital transformation. Elice leverages AI to offer specialised tech skill development and a customised learning experience across coding environments via personalised tutoring, live classes, testing/assessment, learning management systems and customer management systems.

Existing key clients include Samsung, Hyundai Motors, SK Group, LG Group and Seoul National University.

Also Read: The future of edutech: Personalising learning for all

Elice claims it serves over 1,800 globally and counts among its clients South Korea’s major conglomerates, top universities, and government ministries. Its AI-based practice-oriented education platform, EliceLXP, has accumulated more than 1.3 million users.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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GitHub, the world’s leading software development and version control platform, has recently released an updated version of its Innovation Graph.

Launched in September last year, the GitHub Innovation Graph serves as a comprehensive source of data visualisations that shed light on global developer activity. The most recent update, incorporating data from Q3 2023, offers valuable insights for policymakers and researchers, emphasising the nuances of cross-country collaboration in the realm of software development.

This report reveals some intriguing findings regarding Singapore’s vibrant software development scene.

With over 1,020,000 developers and 54,300 organisations actively contributing to GitHub, Singapore has established itself as a key player in the global coding community. The sheer scale of participation is reflected in the fact that Singaporean developers uploaded code to GitHub more than 1.5 million times, collectively owning a staggering 3.7 million repositories.

Another detail that the report revealed is that the programming language dominates Singapore. When it comes to the languages shaping Singapore’s coding landscape, JavaScript emerges as the undisputed leader. Based on the number of unique developers contributing code, JavaScript takes the top spot, followed closely by Python and Shell.

Also Read: Circulate Capital joins bio-based plastic developer Algenesis’s US$5M seed round

This hierarchy not only reflects the preferences of Singaporean developers but also aligns with global trends, highlighting the versatility and widespread use of these languages in contemporary software development.

What this means for policymakers and researchers

Apart from revealing details about the software developer community in a particular market, including Singapore, the GitHub Innovation Graph also sheds light on cross-country collaboration–particularly how developers in different markets are working together with each other.

By measuring git pushes sent and pull requests opened from one economy to another, the graph provides a nuanced perspective on the global interconnectedness of software development efforts. The statistics paint a picture of a highly active and collaborative ecosystem, where over a million developers and tens of thousands of organisations contribute to the collective repository of code.

For Singapore, the top three collaborators were the US, Hong Kong, and China. This underscores the importance of international cooperation in driving innovation and advancing the software development landscape.

What does this knowledge about Singapore’s software development landscape mean for policymakers and researchers? It started by enabling an understanding of the dynamics of global software development.

Also Read: Empathetic software development: Creating accessibility-first apps for greater inclusivity

By delving into the specifics of Singapore’s involvement, authorities can tailor policies that foster local innovation while leveraging international collaborations. Additionally, researchers gain a deeper understanding of the trends shaping the coding landscape, enabling them to identify areas for potential growth and investment.

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Image Credit: Arif Riyanto on Unsplash

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