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Daniel Tan: Banker turned fintech founder, finding opportunity in crisis and market inefficiency

e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’, we spotlight an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this edition, we explore the journey of Daniel Tan, Founder of FindTheLoan.com, Singapore’s first loan marketplace. Since publishing his inaugural thought leadership article with us in 2018, Tan’s subsequent articles have amassed over 10,000 views.

Thoughts, goals, and journey

Having experienced two layoffs from banking roles during the 2008 mortgage crisis, Tan decided to explore entrepreneurship. Despite uncertainty about the business idea, he immersed himself in tech strategies, including defensibility moats, walled gardens, engineering marketing, coding, and digital marketing.

Transitioning to the insurance industry post-banking, Tan became an assistant agency leader, eventually co-founding a mortgage loan agency with colleagues. His interest in improving the loan process was sparked in mid-2019 when a friend sought help assembling a team of loan brokers. Recognising the persisting manual, slow, and error-prone nature of the industry, Tan envisioned a solution.

The onset of the COVID-19 pandemic intensified the need for streamlined loan processes. Tan observed brokers selectively serving borrowers based on loan size and increasing fees for perceived complex cases. Motivated by this inefficiency, he conceived the idea of a loan marketplace connecting borrowers directly to multiple lenders with a single application, eliminating intermediaries.

“Honestly, I don’t know if I have a particular expertise. When it comes to loans, loan brokering, engineering, and so on, many people know so much more than I do. Previous attempts to solve this problem in my industry were all by specialists. Being a generalist was, in my opinion, the reason I understood the needs and works of lenders vs borrowers vs brokers and to marry and design an end-to-end product,” said Tan candidly.

Also Read: Karen Kim: Leveraging design thinking for efficient decision-making in data management

In observing trends within his industry, Tan noted a growing awareness among venture capitalists and fintech companies of the existing credit gap, particularly for SMEs, which had persisted since the subprime crisis. Recognising the emergence of numerous fintech lenders, he pondered the challenge of efficiently connecting borrowers with these lenders while minimising friction in the process.

Furthermore, Tan observed a surge in startups and solutions focusing on KYC/AML processes, alternative credit assessment data, and AI application in credit scoring. However, amidst this growth, he contemplated the potential impact of increasing concerns regarding data privacy on these industry players.

Advice for budding thought leaders

Tan believes the best approach to making connections as a thought leader is understanding others’ perspectives and concerns, ensuring that your writing resonates with them.

“For instance, my recent article was on objection vs rejection. Having also been through it myself, I was prompted to write it after a friend lamented to me about how someone rejected him. I believe most founders are open to genuine feedback, but not from those who were not listening and probably just wanted to look smarter by being critical. Reading many articles each day from various sources and observing how leaders frame their words and thoughts also taught me a thing or two.”

Juggling too many things?

Reflecting on his approach to maintaining work-life balance, Tan remarked, “Balancing work and personal life can be challenging, especially for founders starting from scratch. Often, sacrifices must be made, with social life being the first to be trimmed down. Despite this, I’ve found a way to blend both worlds by offering advice to friends on their startups. While I wouldn’t label it as mentoring, it allows me to intertwine work with personal connections, offering face time with friends beyond the usual business circles.”

Also Read: David Kim: Championing entrepreneurs, shaping the future of innovation

Staying in the loop

For staying updated on industry developments while on the move, Tan relies on e27 and Google Alerts.

In recommending resources for keeping abreast of industry trends, Tan suggests following his blog, which provides detailed insights on selecting loan types, comparing offers, and exploring various financing options like VC, angels, and crowdfunding. For startups, he recommends two books: Venture Deals and The Matchmaker.

“Starting up can be extremely tough. I keep my loved ones’ photos on my desk, and my laptop wallpaper is filled with inspiring quotes, like my favourite from Ray Kroc, who transformed McDonald’s into what we see today: ‘Nothing in this world can take the place of good old persistence. Talent won’t. Nothing’s more common than unsuccessful men with talent.’ Often, starting up can be the toughest challenge one would ever understand. Having the courage to keep going is the number one skill I believe matters above all else,” Tan concluded.

Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem. 

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Sustainable development through empowering commerce in Indonesia

Echelon X

Visit Echelon X to learn more about the program. Get your tickets here!

Retail and wholesale commerce play pivotal roles in fostering economic equity, especially in a diverse and populous country like Indonesia. These sectors serve as conduits for distributing goods and services across various regions, thereby creating opportunities for small and medium-sized enterprises (SMEs) to thrive.

By engaging in retail and wholesale activities, local businesses gain access to larger markets, enabling them to compete with larger corporations. This dynamic not only encourages entrepreneurship but also empowers marginalised communities by providing them with avenues for economic participation. Moreover, retail and wholesale sectors generate employment opportunities at multiple levels of the supply chain, from producers and distributors to retailers and service providers, thereby contributing to income redistribution and poverty alleviation.

Also read: Leading end-to-end property platform in Indonesia will share insights at Echelon X!

In Indonesia, where socioeconomic disparities are prevalent among its diverse population, the retail and wholesale sectors serve as engines of economic inclusivity. These industries facilitate access to essential goods and services in both urban centres and rural areas, bridging the gap between regions and socio-economic classes. Additionally, the presence of vibrant retail and wholesale markets encourages innovation and diversification, as businesses strive to meet the diverse needs and preferences of consumers.

Government policies that support the growth of these sectors, coupled with investments in infrastructure and technology, can further enhance their role in promoting economic equity by ensuring efficient distribution networks and enabling greater market access for all stakeholders. Ultimately, a robust retail and wholesale ecosystem is essential for fostering sustainable and inclusive economic development in Indonesia.

Challenges faced by retailers in Indonesia

Individual retailers operating in the retail and wholesale space encounter various challenges that can impede their success and competitiveness. One significant hurdle is intense competition from larger retail chains and e-commerce platforms, which often have greater financial resources and marketing capabilities. This competition can make it difficult for smaller retailers to attract customers and maintain profitability.

Additionally, rising operating costs, including rent, utilities, and labour expenses, pose significant challenges for individual retailers, particularly in urban areas where overhead costs are high. Moreover, fluctuating consumer preferences and market trends require retailers to constantly adapt their product offerings and marketing strategies, which can be daunting for smaller businesses with limited resources and expertise.

Also read: SAFE STEPS D-TECH Community Hub is leading the way to a resilient future

Finally, navigating complex regulatory frameworks and compliance requirements, such as taxation and licensing regulations, adds another layer of difficulty for individual retailers, further hindering their ability to thrive in the competitive retail landscape. All of these complexities pull focus from the arduous day-to-day operations that are already very demanding to your average everyday retailer, particularly when it comes to both acquiring and distributing products and merchandise.

To address these challenges, SuperApp is the first social commerce platform in Indonesia that is ISO 9001:2015 certified and aims to solve economic inequality across cities for Indonesia’s future economy. SuperApp is one of the top YC companies, which oversees the main feature, SuperAgen, an agent-led commerce feature that enables community leaders to become retailers within their communities.

How SuperApp is balancing impact, technology, and sustainable growth in Indonesia

By empowering community leaders to become retailers through SuperAgen, the platform not only facilitates economic participation at the grassroots level but also fosters a sense of community-driven commerce.

Achieving ISO 9001:2015 certification underscores SuperApp’s commitment to quality and efficiency, which are crucial for building trust among users and stakeholders. As one of the top Y Combinator (YC) companies, SuperApp likely benefits from access to resources, mentorship, and networking opportunities that can further fuel its growth and impact.

Overall, SuperApp’s focus on social commerce and community empowerment has the potential to make significant contributions to Indonesia’s economy and society. How do they do it? Learn all about SuperApp’s story straight from the source.

Happening on May 15 to 16 at the Singapore EXPO, Echelon X will feature a dedicated fireside chat entitled “Balancing Impact, Technology, and Sustainable Growth in Indonesia: How SuperApp Does It,” featuring Steven Wongsoredjo, CEO and Co-Founder at SuperApp (YC W18).

Also read: Echelon X introduces the Growth Stage: A dedicated platform for startup growth

Bringing experience from previous roles at Aplikasi Super (YC W18), Permias Washington DC and UNICEF. Steven Wongsoredjo holds a 2015 – 2016 Master of Science (MSc) with a 3.98/4.00 GPA in their field at Columbia University in the City of New York. He also holds a Bachelor of Science from Johns Hopkins University with Magna Cum Laude honours. With a robust skill set that spans Marketing Management, the Gaming Industry, Public Speaking, Accounting, Economics, and more, Steven Wongsoredjo contributes valuable insights to the industry.

The fireside chat will be moderated by no other than Aaqib Alvi, Country Manager for Sustainable Living Lab.

Aaqib Alvi is committed to providing global program management for their client, Intel, where he serves on the frontlines of the AI revolution, deploying cutting-edge technology to national governments in over 35+ countries. His passion for using AI to bridge the technical gap and empower non-technical populations has driven him to work on sustainable development goals by providing sustainable innovation consultancies to MNCs and communities.

With over 12 years of experience in the education-technology sector, Aaqib Alvi has honed his expertise in STEAM learning for students. His knack for developing strategies for education startups and facilitating the adoption of innovative products and learning environments has been recognised by educators and learners alike. Aaqib Alvi is renowned for delivering dynamic and engaging presentations on the power of STEAM learning and how it can be used in any subject to strengthen learning.

Join us at Echelon X!

Gear up for the premier tech and innovation conference as Echelon X kicks off on May 15th and 16th, 2024, at the Singapore EXPO. This dynamic event will bring together industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region for two packed days.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

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OKX Ventures invests in Bitcoin DeFi protocol DLC.Link 

Singapore-based OKX Ventures, the investment arm of global cryptocurrency exchange and Web3 technology company OKX, has invested an undisclosed amount in DLC.Link, which harnesses the power of Discreet Log Contracts (DLCs) to establish a trustless bridge between Bitcoin and Ethereum.

DLC.Link aims to bring the power and innovation of DeFi to the Bitcoin ecosystem without compromising on security, decentralisation or user experience. It partners with institutions (called dlcBTC Merchants) to mint dlcBTC, a decentralised wrapped Bitcoin. Unlike other forms of wrapped Bitcoin, dlcBTC does not require Bitcoin deposits to be held with a custodian or bridged to a separate blockchain.

Also Read: OKX Ventures leads investment in Web3 venture studio BeWater

To mint dlcBTC, Bitcoin depositors self-wrap by locking their collateral into a DLC, which can only pay out to the original depositor. Thus, dlcBTC provides a theft-proof protocol, in that Bitcoin deposits cannot be lost through hacks, theft or fraud.

Furthermore, since only the original depositor can retrieve funds, dlcBTC is more resistant to censorship than current forms of wrapped Bitcoin.

Aki Balogh, co-founder of DLC.Link, said: “wBTC has reached Top 15 token status, despite its centralised custody model. In contrast, dlcBTC is the only wrapped Bitcoin that is minted from self-custody. DLCs, which were added to Bitcoin in 2021, enable a theft-proof wrapping mechanism without the need to introduce a bridge or L2 chain. dlcBTC will boost the adoption of Bitcoin in DeFi and has the potential to become a Top 10 token.”

With an initial capital commitment of US$100 million, OKX Ventures focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Also Read: OKX Ventures backs Web3 interoperability infra firm Polyhedra

Early this week, OKX announced that its Singapore subsidiary OKX SG received in-principle approval for a Major Payment Institution License (MPI) in Singapore. The licence allows it to provide digital payment tokens and cross-border money transfer services in the city-state.

The company looks to build a locally tailored suite of products and services.

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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Funding into SEA’s female-led startups falls 42% to US$480.8M in 2023: Tracxn

Funding into female-led startups in Southeast Asia (SEA) saw a 42 per cent y-o-y drop in 2023, according to Tracxn research.

Woman-led startups in Southeast Asia raised US$480.8 million in 2023, compared to US$831.9 million last year. The downturn was not confined to a specific sector or geography but across diverse sectors and geographical locations.

Also Read: Meet the 27+ women headline-makers in the Southeast Asian tech startup ecosystem

2021 saw the highest funding by female-led ventures, raising US$1.2 billion. In that year, funding surged across all stages. While the late-stage funding rose by 626 per cent, early and seed-stage funding increased by 137 and 90 per cent, respectively.

In 2021 and 2023, the highest funding was observed in the late stage.

In 2022, the bulk of the funding came in the form of early-stage deals. Late-stage funding declined 66 per cent in the year, while early-stage and seed-stage funding rose 61 per cent and 47 per cent, respectively

Southeast Asia is home to over 1,700 startups with at least one female co-founder. There are 657 funded women-led startups, of which 14.3 per cent have progressed to the Series A stage and 1.8 per cent to Series C or beyond.

In Southeast Asia, Singapore dominates the female-led startup landscape, with US$3 billion in funding raised across 380 rounds to date. Jakarta secured US$935.9 million through 106 rounds, while Cyberjaya’s female-founded ventures received US$86.3 million across ten rounds.

Also Read: Buy from her: Elevating women’s entrepreneurship

Singapore has 936 woman-led companies, followed by Jakarta (173 companies) and Kuala Lumpur (107).

The city-state ranks seventh in the world in terms of funding raised by women-led startups to date.

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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Why Soul Ventures Founder Warren Hui seeks founders with a vision “so big it seems impossible”

Soul Ventures Founder and GP Warren Hui

Going over the list of portfolio companies of Soul Ventures is guaranteed to keep one impressed, especially with the appearance of familiar names such as OpenAI, Reddit, SpaceX, and Neuralink.

Apart from those companies, the firm has also invested in Asian companies such as online real estate marketplace Anjuke. It also works closely with various LPs based in Singapore and Taiwan, going in on deals together like a recent investment into AI company Cohere.

Founded in 2021, Soul Ventures focuses on growth-stage investments in frontier tech, AI, and consumer tech. Led by founder and GP Warren Hui, the Hong Kong-based firm bridges the US and Asian markets for its portfolio companies. With extensive ties throughout Asia and the US, Soul Ventures has been instrumental in helping companies in both regions grow and expand internationally, especially in the AI space.

Hui explains to e27 the firm’s notable investments and major regional plans in this email interview. The following is an edited excerpt of the conversation.

You have invested in some of the most notable names in the industry today, such as SpaceX and OpenAI. Can you tell us about what first drew you into these companies? What are the factors that you look at when assessing them?

For us, we always start with the bigger picture thematically. What are the biggest disruptions that might happen in the next 10 years? So, for example, we believe AI will be a technology that will disrupt all industries. So we take AI, and then we distil it down into the medium term and the long term: What industries will be disrupted first using AI? We strongly believe that consumer and enterprise productivity will be a big market that will be disrupted immediately.

Also Read: Building resilience against cyber attacks in ASEAN through data

Our team then researches and contacts numerous AI companies in order to understand each founder’s vision. We invested in OpenAI because the team is one of the most talented in the world and has done much of the research that lays the groundwork for AI today. They’ve also created a strategic plan to commercialise and bring their tech to the masses quickly.

What lessons do you learn from supporting these companies?

For our portfolio companies, our biggest value-add is to help them expand into Asia, especially Southeast Asia.

Given a large number of our portfolios were founded in the US, their user base is generally in the US as well. To help startups bridge the gap between regions, there are a lot of cultural nuances that we help founders understand. The way users interact with tech and understand different companies is extremely different between regions, and localisation is key.

We have learned that to help tech companies become truly global the business itself has to be fluid and agile, adapting to user needs constantly.

What is your investment philosophy? What sets you apart from similar VCs?

We want to invest in companies that disrupt the most lives and build a better future for all of us. We genuinely believe technology is a tool to improve people’s daily lives.

Compared to other VCs, our team has both entrepreneurial and operational backgrounds, which enables us to understand first-hand the pain points founders have to go through and then dig in and help them in as many ways as possible.

Also Read: Beyond the draft: Why AI won’t save fiction authors (yet)

What are the factors that you are looking for in a potential investment?

It always starts with the team and the founder. Many startups may get their market fit or product wrong initially, but a great founder can pivot the business and lead a team to success.

We love founders who are visionaries, and especially those with a vision that is so big it seems impossible.

Can you tell us more about the areas and regions you focus on? What strategy do you use to approach these regions? Any interesting insights that you can share with us?

Our primary focus is the US and parts of Asia, such as Southeast Asia (SEA), Taiwan and Japan. Given that my partner has invested in Asia for decades (he backed Tokopedia before it became GoTo and IDN Media, to name a few), we are actively sourcing investments in this region.

I think that, in any region, we always go to places that attract talent. So, in the US, it would be Silicon Valley and now Austin, Texas. We see a lot of AI application-layer companies being built in SEA and invested in an AI infrastructure company out of Taiwan.

We believe that where the most talent is based, ecosystems will naturally be built around the area to help startups succeed.

What is your major plan for 2024?

We will continue to focus on AI. We believe that apart from foundation models – infrastructure and application layer companies will be most interesting.

Consumer internet has always been our focus, so we want to find companies in this space that use AI innovatively. We also want to explore more into robotics and space technologies which we believe will be huge in the next decade.

Image Credit: Soul Ventures

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Beyond the draft: Why AI won’t save fiction authors (yet)

If I had to summarise what the first year of AI-enabled writing did, it is this: writer’s block is dead and buried. There can no longer be an excuse not to write.

With the death of writer’s block, we have seen a new generation of tools being created to replace the Microsoft Word-style text processor. AI is also a critical challenge to more sophisticated writing tools, like Scrivener, which had been widely considered a top choice for organising and drafting novels.

The new generation of AI tools (at least the useful ones) have fallen into largely two categories:

  • Base tools: ChatGPT with its different models and Claude.
  • “Dedicated” tools: Popular ones include Sudowrite and Novel AI, with the latest addition, Novel Craft, being praised as perhaps the breakthrough many AI-positive writers were waiting for.

Personally, as I enter the sixth month of my experimentation at the intersection of fiction writing and AI, I have stuck with the base models by and large. I have currently transitioned from using Scrivener to Notion to handle my manuscript, keeping open the two chatbots mentioned on the side to help as developmental and line editors.

The main reason for sticking with base tools has been that I have been doing a lot more AI-assisted editing than drafting, which dedicated tools like Sudowrite don’t seem to be designed for.

(Side note: I have been working hard at revising my second novel, Path of the Nemesis. Once done with that, hopefully by Christmas this year, I will be diving into the revision, redrafting and publishing of my third novel, a 160,000 words beast which I originally wrote during the pandemic in 2020. Crazy times!)

I believe that by the time I start my first entirely new project, likely sometime in the second half of 2024, I will be seeing some really exciting dedicated tools, having reached the level of sophistication needed to make them worth the change in workflows.

Also Read: AI assistant or replacement? A PR pro’s take on using ChatGPT

That being said, I wanted to write this post today to share my view that while the death of writer’s block is a fantastic development, the fundamental challenge facing writers remains financial sustainability through connecting stories with eager audiences. That truly existential issue, so far, has gone unaddressed.

Gold-diggers and shovel-sellers

As an entrepreneur, I spearheaded Storya, a writing startup that wanted nothing less than to disrupt the Amazon stranglehold on fiction self-publishing with generative AI tools. I know firsthand the frustrations writers face in commercialising creative passion, and I put my blood and sweat into seeking solutions to the problem.

Storya failed, unfortunately, as I have written about here and elsewhere, but I continue to look with hope at what others are building in the “AI + fiction” space. Of course, I also keep brainstorming on new tech projects that may help me achieve my original goal.

But what I am broadly seeing in our current AI “gold rush” are writing tools that excel at building upon ideas but fail to help locate buyers. Most of the tools I mentioned (and the hundreds of copycats out there) are the classic creations of “shovel-sellers”, a reminder that we are very much in the middle of yet another hype cycle.

I think many authors right now, mesmerised by utopian visions of automated writing riches, neglect the pillars of professional authorship – editing, publicity, and rights management. The harsh truth: thinking that “publishing” as a life choice stops at typing “The End” in one’s manuscript is, unfortunately, delusional. I have long suffered from the same delusion myself!

My key issue with the current crop of AI tools, more specifically, is that there is an implicit philosophy behind their designs, namely that with quantity, success will come. While that could potentially be true, volume alone is a guarantee of precisely nothing when it comes to building a sustainable creative income.

Also Read: What did we learn from failing to raise VC funding?

This means that one year into the AI revolution, it is as good a time as ever to expand our sights beyond drafting for the sake of drafting.

We need to find ways to leverage the massive potential of AI for solutions that take fiction works from inception to market fruition — streamlining editing, production, marketing and distribution. Rather than solely stripping away creative barriers for the initial writing stages, we need to think strategically about what it means to build a writing career.

In short, we must innovate across the entire publication value chain. As my Co-Founder Praveen has correctly pointed out, it will be a sad world if all we are outsourcing to AI are the parts that make us most human, like creativity, while we are still stuck with the far less inspiring parts, like pricing, copyright, licensing, marketing, sales, social media management, and more.

That’s the innovation I want. And I think that is the conversation that really needs to happen. At least, I am very much ready for it.

AI is unleashing creativity, I truly believe that. But the future of AI in fiction must have financial rewards interwoven with this imaginative abundance.

If you are keen to make it happen, hit me up!

This article originally appeared in the newsletter Code Red for Writers.

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 groupFB community, or like the e27 Facebook page

Image credit: Adobe

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Shiok Meats CEO Sandhya Sriram to step down after merger with Umami Bioworks

Shiok Meats co-founder and Group CEO Sandhya Sriram

Singapore-based crustacean meat startup Shiok Meats has merged with cultivated seafood company Umami Bioworks.

The details of the merger are undisclosed.

As per a news report, Umami Bioworks, led by CEO Mihir Pershad, will spearhead the merged entity. Shiok Meats’s co-founder and CEO Sandhya Sriram will depart.

Also Read: Shiok Meats wants to bring cruelty-free shrimp products to your dining table with its US$12.6M Series A

The Shiok Meats brand will be retained, and its employees will join Umami Bioworks.

This merger comes at a time when regulatory approvals and commercialisation are on the horizon for the cultivated seafood industry, with Umami having already submitted initial regulatory documents and secured preliminary customers. The combined entity plans to leverage its strengths to expedite these processes.

Umami will continue the work Shiok Meats has done on cultivating crustacean seafood, including lobster, shrimp, and crab.

The initial market launch will likely involve hybrid products, combining cultivated fish cells with plant-based ingredients.

The merger is expected to enhance Umami’s go-to-market strategy, broaden commercial opportunities, and accelerate regulatory approvals. Integration efforts are underway, with plans to consolidate resources and establish dedicated centres for cell lines, media, and bioprocess research and development.

Also Read: Umami Meats secures US$2.4M seed funding to scale its cultivated seafood business in Singapore

Founded in August 2018 by stem cell scientists Sriram and Dr. Ka Yi Ling (CTO), Shiok claims to be the first cell-based meat company in Southeast Asia and the first and only cell-based meat company working on shrimp. It is working to bring cell-based crustacean meats (shrimp, crab, lobster) to the kitchen. Its meats are cruelty-free, healthy, and better for the environment with the same taste and texture and more nutrients than their traditional counterparts.

The startup stands out from other cell-based meat production companies because of its proprietary technology that isolates stem cells from shrimp, lobster, and crab. Once the stem cells are harvested, the shrimp, lobster and crab meats are grown in nutrient-rich conditions, similar to that of a greenhouse.

In 2020, Shiok Meats raised US$12.6 million in a Series A funding round, led by Aqua-Spark, an investment fund focused on sustainable aquaculture.

Umami Bioworks (earlier known as Umami Meats) produces nutritious, affordable cultivated seafood. The startup claims its cultivated, not-caught seafood offers equivalent nutrition to traditional seafood and provides a delicious culinary experience free from heavy metals, antibiotics, and microplastics.

In 2022, Umami secured pre-seed funding of US$2.4 million co-led by Better Bite Ventures and Genedant.

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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OKX gets in-principle approval for digital token, cross-border money transfer services in Singapore

OKX SG, the Singapore subsidiary of global crypto exchange and Web3 technology company OKX, has received in-principle approval for a Major Payment Institution License (MPI) in Singapore.

The licence issued by the regulator, the Monetary Authority of Singapore (MAS), allows it to provide digital payment tokens and cross-border money transfer services in the city-state.

The company looks to build a locally tailored suite of products and services.

Also Read: ‘Young, tech-savvy population contributes to cryptocurrency growth in Vietnam’

OKX is currently available for users in Singapore via the web or the iOS or Google Play apps.

“Regulatory compliance is a core aspect of our CeFi business strategy as we build locally, and we are supportive of the MAS’s world-leading framework, which aims to safeguard consumers by upholding market integrity and security,” Chief Legal Officer Mauricio Beugelmans said.

Founded in 2017, OKX is a cryptocurrency exchange providing spot, margin, expiry, options, perpetual futures trading, DeFi, lending, and mining services to more than 50 million global users. In addition to the DeFi exchange, it also offers OKX Wallet, which allows people to explore NFTs and metaverse while trading GameFi and DeFi tokens.

Also Read: OKX Ventures backs Web3 interoperability infra firm Polyhedra

OKX also runs a venture capital arm OKX Ventures, which recently led an investment round in BeWater, a Web3 venture studio and global developer platform that facilitates the development of open-innovation campaigns and events, including hackathons.

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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Leading end-to-end property platform in Indonesia will share insights at Echelon X!

Echelon X

Visit Echelon X to learn more about the program. Get your tickets here!

The real estate landscape presents a host of challenges that transcend geographical boundaries, impacting aspiring homeowners worldwide. Affordability remains a significant obstacle, fueled by escalating property prices and stagnant wages in many regions. Access to financing can be constrained by stringent lending criteria and high down payment requirements, particularly for first-time buyers. Moreover, market volatility and economic uncertainties can deter investment and exacerbate housing inequalities. Issues such as inadequate infrastructure, regulatory complexities, and legal disputes further complicate property transactions, eroding trust and confidence in the real estate market.

Addressing these multifaceted challenges requires concerted efforts from policymakers, industry stakeholders, and communities to foster sustainable and inclusive housing solutions for all.

More particularly, with Indonesia’s burgeoning middle class, consumers encounter various challenges when engaging in selling, buying, renting, instalment, and property maintenance endeavours. Firstly, the process of selling or buying property can be hindered by bureaucratic red tape and inefficiencies in the legal system, leading to lengthy and complex transactions. Additionally, the lack of standardised property valuation methods often results in discrepancies between seller expectations and buyer perceptions of value, contributing to negotiation difficulties and transaction delays.

Also read: Echelon X introduces the Growth Stage: A dedicated platform for startup growth

Moreover, consumers face obstacles in securing financing, with limited access to mortgage options and high interest rates constraining purchasing power, particularly for first-time buyers. This can perpetuate housing inequality and impede homeownership aspirations for many Indonesians.

Furthermore, renting property in Indonesia presents its own set of challenges for consumers. Tenants may need help finding suitable accommodation due to a mismatch between rental supply and demand, especially in densely populated urban areas. Rental agreements may lack clarity and enforceability, exposing tenants to potential exploitation by landlords.

Additionally, property maintenance experiences can be subpar, with issues such as inadequate infrastructure, poor sanitation, and insufficient access to utilities plaguing rental properties. These challenges underscore the need for comprehensive reforms to streamline property transactions, enhance consumer protection measures, and improve the quality of housing and rental experiences in Indonesia.

As such, founded in 2020, Pinhome, the leading end-to-end property platform in Indonesia, made it their mission to revolutionise the way individuals engage with the real estate market by leveraging cutting-edge technology and innovative solutions.

Pinhome’s one-stop solution to challenges in the real estate space

With Pinhome’s one-stop solution, the platform helps address challenges faced by stakeholders through five key areas: finding properties, buying properties, owning properties, home maintenance services, and property development.

Pinhome has established partnerships with over 20,000 agents and forged relationships with more than 23 bank partners, enabling seamless transactions within the real estate market. With an extensive network, Pinhome offers access to over 1 million property listings, spanning over 90 per cent of the cities in Indonesia. Its comprehensive features, including advanced search capabilities and secure payment options, have positioned Pinhome as the preeminent choice for individuals navigating the real estate landscape. This recognition was further solidified as Pinhome emerged as the most downloaded application in the Real Estate and Home category on the Google Play Store in 2023, a testament to its user-friendly interface and unparalleled service offerings.

“Our commitment is to continue to provide services that can always be a solution for various property-related needs and make the user experience easy, effective, and fun with various innovative features on the Pinhome platform,” shared Fibriyani Elastria, CMO of Pinhome.

Due to their successes, Pinhome has recorded an increase in performance in their home service sector in 2023 and is expected to see higher returns in 2024.

Also read: Growing and transforming global greentechs for sustainability

To help us learn more about Pinhome’s successes, Dayu Dara Permata, CEO and Founder of Pinhome, will be discussing strategies and insights into the real estate market as well as the challenges faced by Pinhome that have led to its current success. With a wealth of experience and expertise, she will shed light on the innovative approaches adopted by Pinhome to address the unique challenges encountered in the Indonesian real estate market. From navigating regulatory complexities to harnessing the power of technology, Permata will offer invaluable perspectives on how Pinhome has successfully carved out its niche and cemented its status as a leading end-to-end property platform.

Moderated by Rama Mamuaya, CEO of DailySocial.id, the fireside chat promises to delve deep into the intricacies of Pinhome’s journey, exploring not only its successes but also the hurdles overcome along the way. Permata will share candid insights into the challenges faced by Pinhome, from initial inception to scaling operations, highlighting the lessons learned and the strategies employed to overcome obstacles. By offering a comprehensive overview of Pinhome’s trajectory, Permata’s discussion will provide invaluable learnings for entrepreneurs and industry professionals seeking to navigate the dynamic landscape of real estate in Indonesia and beyond.

This fireside chat will be happening at Echelon X taking place on 15 and 16 May at the Singapore EXPO.

Join us at Echelon X!

Gear up for the premier tech and innovation conference as Echelon X kicks off on May 15th and 16th, 2024, at the Singapore EXPO. This dynamic event will bring together industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region for two packed days.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

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Introducing the new Contributor Dashboard: A streamlined approach to article management, monitoring, sharing, and writing

The e27 Contributor Programme stands as one of our fastest-growing products. Over the past year, our community has expanded to encompass over 600 individual contributors, spanning founders, investors, startup and corporate employees, consultants, academics, and students. These contributors represent a diverse array of entities, including startups, funds, government institutions, schools, and organisations at the forefront of the tech and entrepreneurship sector.

In our ongoing commitment to providing contributors with effective tools to enhance their readership and impact, our product team has been tirelessly working to refine and develop experiences that facilitate article publication and management on e27.

With this latest update, we are thrilled to introduce the Content Dashboard, a comprehensive toolset aimed at assisting writers in managing, monitoring, sharing, and writing their articles.

Key updates to the Contributor Dashboard include:

New article management tool via Content Dashboard

Contributors can now effortlessly manage their articles directly from their user profile by accessing the “Manage Articles” feature located at the bottom of the “Your articles” feed. Within the Dashboard, contributors will be able to see their total published articles and view counts, alongside the ability to oversee drafts, pending submissions, and scheduled items. Additionally, contributors can conveniently submit new articles directly from the dashboard interface.

Also Read: e27 Contributor Programme in 2023: A thrilling journey through growth and innovation

Simplified monitoring of article views and social media sharing

The Content Dashboard provides contributors with a comprehensive overview of their published articles, complete with text previews and direct article links. Each article preview showcases its publication date and current view count, allowing contributors to stay informed about their content’s performance.

Moreover, contributors can effortlessly share articles across selected social media platforms, including Facebook, Twitter, and LinkedIn, and conveniently copy article URLs with a single click.

These improvements were designed to improve user experience through a simplified interface featuring a consistent, responsive, and intuitive design.

Experience the new dashboard firsthand by clicking here. New to the programme? Learn more here

The post Introducing the new Contributor Dashboard: A streamlined approach to article management, monitoring, sharing, and writing appeared first on e27.