Singapore’s only Olympic gold medalist, Joseph Schooling, has announced his retirement from competitive swimming to pursue a new venture in startup investing.

Partnering with investment banker Cliff Go and serial entrepreneur Ben Ling, the professional swimmer has founded Swaen Schooling Capital.

Also Read: Women as focus of impact investment: Does it bring more harm than good?

Established in August 2022, Swaen Schooling Capital, led by Go, focuses on early-stage investments in three key sectors: impact and sustainability, sports and wellness, and tech. The firm also explores opportunities to create original businesses internally or through strategic joint ventures.

While no investments have been announced yet, Schooling has previously participated in the pre-seed round of the mental health startup Huddleverse in May 2023, per Crunchbase. It remains unclear whether this investment was made through Swaen Schooling Capital or independently as an angel investor.

Also Read: Navigating sports tech using the travel industry’s playbook

The move into venture capital aligns with a growing trend in Southeast Asia, with investors increasingly focusing on impact and sustainability. Notable investors like Temasek Holdings, East Ventures, Openspace Ventures, and Wavemaker Partners have been actively supporting startups in this space.

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Hailed as a practice that can lead to longer life and curing diabetes; Intermittent Fasting or “IF” has recently gained more popularity where celebrities such as BBCs Mike Mosely and Silicon Valley entrepreneur Phil Libin has espoused the benefits of routinely fasting.

Like many Asians, I was brought up constantly praised and encouraged to eat voluminously and frequently – so when I first heard about fasting over 4 years ago I was naturally sceptical.

But I first started experimenting with fasting after reading “Eat Stop Eat” written by Brad Pilon in 2015.

Although he presented some interesting body composition data supporting the benefits of fasting it was some fairly simple anecdotes and logic that initially appealed to me. Firstly, fasting is one of the oldest practices followed by many religions suggesting that there is some benefit associated with it.

Secondly, before the age of modern medicine both Hippocrates and Paracelsus, a German-Swiss physician, advocated and prescribed fasting as a way to a healthier life and cure certain illnesses.

Lastly, ‘eating three meals a day’ is a relatively recent phenomenon and even the Romans are understood to have only eaten once a day.  That said, the food industry is one of the largest global industries and how we eat is potentially driven more by marketing and the need for growing profits and revenues than human necessity.

Fasting then had a natural appeal to me as there appeared to be a very little monetary incentive to promote it. The concept is relatively simple, abstain from eating. This does not require detailed explanations, a special diet or any equipment whatsoever. There was nothing to purchase at all or any medicine or tests to prescribe.

Also Read: Scale up your productivity, scale up your business

This indeed could be one of fasting’s greatest limitations to widespread adoption. The fact that it is very hard for anyone to make money out of it! Take for example the use of fasting to treat medical disorders – from diabetes to obesity.

How willing would you be to pay a doctor to simply tell you that your best medicine would be to abstain from food regularly?

So my journey in fasting began half out of curiosity and half from relishing a challenge of something I had never done before.

As someone who ‘lives to eat’ and used to believe that not eating regularly could induce stomach cramps and hunger to the extent of hospitalisation, I was slightly fearful.

But surprisingly I got through my first 24 hours from dinner to dinner the next day with relative ease, simply drinking plain water when I felt hungry. I practised this once a week from 2015 to the end of 2016.

Then in 2017, I decided to step up my practice moving from doing 1 x 24 hour fast a week to 2 – which I generally do every Monday and Thursday.

This time I tracked some high-level body weight, composition and size metrics and in the period of 9 months, I lost around 7 kgs, reduced my waist to just under 30 inches and my body fat from 16.0 per cent to around 12 per cent. I did this all while continuing my regular Ironman training clocking in some of the best 70.3 times I have ever done yet with less training.

Experiencing both mental and weight-control benefits I was curious about the medical research that had been done on fasting. So I read a book by Dr Jason Fung, a Canadian doctor, who had conducted research into the health impact of fasting and uses therapeutic fasting to cure type II diabetes.

The science behind fasting

According to the research regular fasting can have the same impact as a caloric restriction which in mice has been shown lead to a longer life. In addition IF also has the benefit of inducing a ketogenic state in the body.

By allowing the body to run through all of its ready glycogen stores our body switches to stored fat to create energy. In the process of burning fat chemicals, ketones are released into the bloodstream.

Ketones trigger the release of a molecule BDNF in the brain which can build and strengthen neurones contributing to brain health. Ketones can also reduce inflammation, blood pressure and a hormone known as IGF-1 all of which has been shown to have an association with longer life and less age-related disease.

Also Read: Feeling like a fraud? Here is how to fight Impostor Syndrome and improve team productivity

So how does one do it? There are a variety of approaches such as BBC medical journalist Michael Mosely’s 5:2 approach which includes fasting 2 days with a small <500 calorie meal in between to alternate-day fasts and eating within a window of 4-8 hours each day.

Personally, I have found fasting every Monday and Thursday, which also happens to be the Muslim fasting routine, from dinner to dinner (a Monday fast would mean not taking any calories from Sunday after dinner until Monday start of dinner) to work best for me.

Also Read: How to stop working late and increase productivity : do your most exhausting task first

Beyond the researched health and physiological benefits, I’ve found fasting to also help reinforce a regular discipline in my weekly routine. This includes reinforcing discipline in my exercise (I continue to train during my fast days) as well as my work routine. Finally, after going through several hours of ‘feeling hungry’ on Monday and Thursday I feel immense gratitude when I break my fast.

I’ve found fasting to be super flexible (if I have work lunches I simply switch my fast days). It costs nothing and saves time as I can work through mealtimes on my fast days.

For busy entrepreneurs it’s not unusual to end up missing meals now and then but doing it purposefully and benefiting from regular fasting is an additional bonus. In fact, several of our portfolio founders and our team members have taken it up as well.

The hardest part was getting started and overcoming years of habitual eating but for me, since starting 4 years ago I’ve not looked back and have found fasting to be as necessary a part of the week as eating.

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Image Credit: vetre / 123RF Stock Photo

This article was first published on September 11, 2019.

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FishLog, an ecosystem enabler for Indonesia’s fisheries cold chain industry, has announced the completion of its pre-Series A extension round of funding.

The investors in this round include Mandiri Capital Indonesia, BNI Ventures, Accel Partners, Insignia Ventures Partners, and Saison Capital.

Also Read: How Fishlog aims to revolutionise Indonesian fisheries with cutting-edge tech solutions

The size of the deal has not been disclosed.

FishLog will use the capital to empower and elevate fisheries businesses and stakeholders to strengthen its cold chain ecosystem.

The startup also announced the appointment of finance veteran Dimas Wikan Pramudhito as its Chief Financial Officer. Pramudhito has a rich background in esteemed banking institutions such as Rabobank, Mitsubishi UFJ Financial Group (MUFG), Standard Chartered Bank, and NOBEL Capital Investment, including a notable stint as CFO at PT Antam Tbk from 2015 to 2019.

FishLog was established in 2020 by Bayu Anggara, Reza Fahlepi, and Abdul Halim to solve the fragmentation in cold chain fisheries in Indonesia. A seafood platform, FishLog enables the national fisheries cold chain network through community involvement. It empowers cold storage to increase its utility by connecting it with more fishermen, distributors, and buyers.

It offers FishLog Trace and FishLog Smart Contract, powered by blockchain technology. While FishLog Trace guarantees seafood comes from responsible sources, leveraging a traceable sourcing system and providing quality insurance coverage, FishLog Smart Contract handles financing, enhancing transparency.

A portion of the newly raised funds will be used to strengthen its traceable products in the US. FishLog distributes over 60,000 kg of seafood products and connects over 60 domestic and international buyers, helping them expand their businesses.

“The US is one of the largest markets in the world. Based on data from the US Department of Agriculture, US seafood imports exceed exports by US$20.3 billion in 2023. The latest data indicates that there is such a significant potential open for FishLog to strengthen its ecosystem in the US. This can accelerate the profitability of product distribution such as Blue Swimming Crab, Tuna, Shrimp, and many more as Indonesia imports products to FishLog’s B2B international buyers,” stated Bayu Mukti Anggara, co-founder and CEO.

Also Read: FishLog raises US$3.5M to empower cold storage warehouses in Indonesia to improve utility

Sustainability is also a key focus for FishLog as it claims to have achieved a 40 per cent increase in cold storage productivity through sustainable supply and technology, managing over 4,000 tons of seafood inventory per month.

Furthermore, FishLog has empowered over 800 workers, 38 per cent of whom are women. As part of its sustainability initiative, FishLog has recently closed a grant of US$100,000 with the United Nations Development Program (UNDP) and the Ministry of Finance of the Republic of Indonesia.

The company also collaborates with the BNI Xpora programme to support Indonesian seafood SMEs in expanding exports. FishLog has channelled around US$950,000 to empower export fisheries and business partners.

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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.

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DigiFT, a DeFi exchange for on-chain real-world assets, has expanded into Hong Kong.

The company has also announced the appointments of Kevin Loo as CEO of DigiFT (Hong Kong)and Shen Hao as MD and Chief Development Officer of the parent firm.

Both executives bring over twenty years of global experience respectively, having held senior leadership roles across corporate and commercial banking, investment firms and digital asset areas.

The Monetary Authority of Singapore (MAS)-licenced DigiFT has also obtained membership in the Cyberport Incubation Programme, a flagship for digital technology and entrepreneurship in Hong Kong with over 2,000 members.

Also Read: Joseph Schooling quits competitive swimming, turns VC investor

“At DigiFT (HK), we believe this is an opportune moment to provide global Web3 financial solutions to continue helping Hong Kong and APAC stay at the forefront of global finance. We look forward to working closely with the regulators and industry players to pave the way for a tokenised future that is scalable, secure, and sustainable,” said Loo.

“Our expansion into the market is a natural next step in our growth plans as we look to facilitate broader access to tokenised real-world assets,” said Henry Zhang, Founder and CEO of DigiFT.

In February this year, the Hong Kong Monetary Authority (HKMA) set out the supervisory standards regarding the sale and distribution of tokenised products.

Founded in 2021, DigiFT is an exchange for on-chain real-world assets approved as a Recognised Market Operator with a Capital Markets Services license by the MAS. It enables asset owners to issue blockchain-based security tokens, facilitating continuous liquidity trading through an Automated Market Maker.

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Image credit: DigiFT

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One of the biggest concerns that millennials have is the idea that they’re not making a difference in their workplace. The reason why this is so troublesome for them is due to the fact that some of them have the unrealistic expectation of making a difference from the first day in their workplace.

Needless to say, the only way to make this work is to actually be the person in charge, which is why millennials seem to be showing a surprising amount of entrepreneurial spirit.

Still, the business world often turns out to be a place unlike what they’ve expected it to be. Therefore, here are six things they need to know to be ready for what lies ahead.

Understand why so many people fail

The first thing you need to do is figure out why so many enterprises fail.

For instance, there could be no market need for your business, you might lack a competent team or your competition might be too tough.

Also Read: The millennial force: changing the workplace and its culture

One of the ways to look at this from the right perspective would be to take a look at the list and try to see if any of these concerns would be true in your particular case. Once you get this out of the way, you’ll drastically increase the odds of your own business making it.

Invest in proper education

Another thing you should think about is your investment in education.

One of the biggest problems that millennials (even non-entrepreneurs) face when it comes to financing, is the fact that they’re both confident and lack knowledge in the field.

Therefore, you need to invest in your own education by either looking for a competent mentor or by finding the right online course to embark on. Even the concept of microlearning can turn out to be quite beneficial for an aspiring entrepreneur.

Become more resourceful

Perhaps the most important thing for making it in the business world is the concept of being resourceful. What this means is being able to achieve a maximum effect with what you’ve got.

Also Read: This app helps Indian millennials enhance their mind and soul wellness

You see, when it comes to boosting the profit of your enterprise, the majority of people heavily focus on increasing income. What they fail to realize is that reducing the costs of running a business can get you there just as fast (sometimes even faster). You can do this by saving power, embracing more effective business practices and reducing the cost of office supplies.

Drop deadweight

Making the right team is incredibly important, however, sometimes, when hiring, you’re not looking at all the right traits of potential employees.

For instance, in your quest for ideal candidates, what you’ll be looking at is their performance, their work experience and their education.

Still, this doesn’t reveal their personality. There are some types of people who can run your business into the ground by just… well, being themselves. We’re talking about emotional vampires, backstabbers and more.

Don’t wait for too long

By waiting for too long, you risk missing your window of opportunity. You see, any data that you’ve gathered has an expiry date, which means that if you do your research, determine that it’s not the right time to start your own business at the moment and wait for a year or two, the validity of the data will become quite questionable.

Factors change and keeping track of them might become harder and harder as the time progresses. Why? Well, because you will carry your prejudices (from previous research sessions) with you. Planning is great but eventually, you need to get into the middle of things.

Prepare for the unexpected

As Mike Tyson once said, everyone has a plan until they get punched in the mouth.

The same thing will happen to your business. Even if you do everything right, prepare enough cash, do a survey on your target demographic and hire the most competent of teams, you’ll have to face a scenario where things don’t go according to plan.

Also Read: An entrepreneur should lay down annual milestones, it helps break down your vision into clear targets

The most important thing here is that you understand just how normal this is and try to adjust, rather than waste too much energy trying to steer everything back on the previous track. Flexibility is the key to surviving in any industry.

By embracing these points, you’ll ensure that you’re not as easily surprised, startled or caught off-guard. Sure, it’s impossible to be ready for all that lies ahead, nonetheless, by remaining flexible and proactive you’ll become a lot more resilient.

The most important thing you need to understand is that just because things are not doing as you’ve expected, this still doesn’t mean that they’re going in the wrong direction.

 

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Brooke Cagle.

This article was first published on September 11, 2019.

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