Let us put this debate to rest – creativity and technology are not enemies; they are partners. In the recent SXSW Australia, ad veteran David Droga says that he did not want to “have to choose between the march of technology and the purity of creativity, and only one of them can survive. Creativity needs technology to be real; technology needs creativity to be more relatable and human.”

Generative AI has swept the world by storm.

Love it or hate it, it is probably going to change the world. But creatives all over the world have been at loggerheads with generative AI—and for good reason. Lawsuits abound, alleging companies stealing writers’ copyrighted work without consent or compensation, musicians worry about AI taking their voice, and artists are filing class-action lawsuits against AI imagery generators.

The symbiosis of technology and art

It is not a good look for generative AI. But historically, technology stimulates creativity – just like how art imitates life.

In 2013, Pew Research Center found that most art organisations tend to agree that the internet and social media have “increased engagement”, and made art a more participatory experience, and that they have helped make “arts audiences more diverse.”  They also tend to agree that the internet has “played a major role in broadening the boundaries of what is considered art.”

A lot of things have changed since 2013, but the fact of the matter is that technology is simply a tool that people use for creativity. Technology has democratised creativity—where one had to have a book publisher, manager or go to expensive art schools to become a professional author, singer or artist, now one can carve out a space for themselves on the internet.

Using a plethora of writing tools, music software, and art platforms — all made possible by the growth of technology. Video games, an explosion of creativity and art, are tech itself. It is built upon code, typed out on machines, and consumed almost solely via the internet. The truth is that technology can, and usually, begets creativity.

If the internet and social media increased engagement in 2013, that engagement is only going to skyrocket now.

Also Read: Is AI the end of originality or a new dawn for creativity?

According to Accenture’s Life Trends 2024, 42 per cent are already comfortable using conversational AI to find product recommendations, and 39 per cent are excited about conversational answers instead of standard internet searches. Generative AI could potentially give businesses an opportunity to shape a “more relatable, human-like representation of the brand.”

Every good partnership has boundaries

However, the relationship between technology and creativity, or art, must have boundaries in order to succeed. We have seen this before: a new technology comes about, complicates things, and then creativity thrives. For instance, when drawing tablets emerged, people claimed that digital art wasn’t real art.

In June of this year, DBS ignited a fervent debate by harnessing the power of AI art tools during an internal event. This sparked a dichotomy of perspectives: on one side, graphic designers voiced apprehensions, particularly about tools like Midjourney potentially utilising artists’ works without consent, raising concerns about ethical practices and the potential negative impact of AI-generated art on human artists’ livelihoods and urban culture. Conversely, DBS defended the internal event, underscoring its commitment to familiarising employees with cutting-edge AI technology.

At the end of the day, generative AI is just another tool. But for this certain tool to work, we need to make sure boundaries are in place. Legal experts have noted potential copyright infringement issues and the lack of disclosure of datasets used by generative AI systems. We need to make sure that generative AI doesn’t steal artists’ work or diminish the job of an artist. This can be done through regulation.

For instance, the EU proposes that generative AI should have to comply with transparency requirements, such as disclosing that the content was generated by AI, designing the model to prevent it from generating illegal content, and publishing summaries of copyrighted data used for training.

Also Read: Creativity at the heart of business growth

Closer to home, the Association of Southeast Asian Nations (ASEAN) is in the process of formulating governance and ethics guidelines for AI. Analysts anticipate that these guidelines will propose “safeguards” aimed at minimising recognised risks associated with artificial intelligence.

Gen AI in the ad space

Generative AI could make ads fun again.

How many mediocre ads have you seen this week? A hundred? A good ad is so hard to come by these days, that on the rare occasion that one does emerge, articles get written by it. The ads for mobile games, for some fitness app, for an investment course—these ads contain zero creativity whatsoever.

The small businesses making these ads aren’t hiring artists and creatives to boost downloads or sales; they’re using whatever resources they have, ill-equipped with creativity, just to push something out onto the internet to get themselves heard. All that results in are people staring insolently at the countdown before they can skip the ad.

Generative AI could potentially change all of that.

As Droga said, we could cut out the mediocrity. The ad space is the perfect medium for this. In a world full of half-baked, low budget ads, campaigns for arbitrary marketing’s sake, generative AI could come in and rid us of the vapid ads that plague us. It’s a win-win for everyone involved: better ads for small companies and better ads for consumers.

The Accenture Life Trends report agrees—while the mediocrity challenge might even get worse as generative AI becomes a bigger player, investing in human creative talent who are keen to break the tried and tested technology templates is imperative. “Skilled creatives must be involved in the use of generative AI”; because at the end of the day, humanity, creativity and tech don’t exist in separate vacuums.

Ultimately, creativity will always involve humans. What we need to do is to create a fair future where the creativity of humans can work together with the transformative nature of tech. What we need to focus on right now, above all, is regulation, regulation, and regulation. Only when we have set just boundaries around this partnership can we flourish from it.

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In 2024, cybersecurity incidents have become a matter of “when,” not “if”. With organisations of all sizes – from established enterprises or new startups – today storing most of their valuable information digitally, no one is spared by attacks from cybercriminals.

As a leading digital hub in the region, Singapore has seen its fair share of cyberattacks in recent years. Online marketplace Carousell previously reported a data leak that affected around 2.6 million users, with the database sold on the Dark Web and hacking forums. More recently, Marina Bay Sands, Singapore’s iconic luxury hotel, saw the email addresses and mobile phone numbers of its Sands Lifestyle rewards program members accessed in a data breach.

For startups especially, security breaches can make or break the business, leaving behind devastating consequences that go beyond mere monetary loss. As a new entrant to the market, tarnished brand reputations and eroded customer trust, along with possible legal implications, can have a profound impact on the business.

In this landscape, organisations cannot afford to take a reactionary approach toward cybersecurity and need to have a tailored and specific plan in place to prepare for near-inevitable cyberattacks.

A good starting point for this is the cybersecurity Incident Response Plan (IRP).

What makes a good IRP

The IRP is a critical document that prepares an organisation for handling a security incident. It documents a list of procedures that details specific actions to take, pertaining to cyber threat detection, response, and recovery. This helps the organisation consolidate resources and respond quickly during a security incident.

Also Read: Demystify cybersecurity: EPP vs EDR vs MDR vs XDR

A good IRP documents the roles and responsibilities of the relevant stakeholders across the organisation that make up the incident response team. For instance, it identifies the incident response managers who would decide on the appropriate response plan during a cyberattack, the security analysts who would review security logs and detect suspicious activity in the IT landscape, and the communication teams who would inform affected stakeholders regarding the cyber incident.

It should also make clear how security events and security incidents are defined and categorised. Not all events become incidents; a security event should only be recognised as a security incident when it produces consequences, such as a violation of confidentiality, integrity, or availability of your organisation’s systems or data.

Putting the IRP into action

In the context of a data breach, the IRP should cover:

Immediate actions upon breach detection

Upon breach detection, organisations should investigate their security reports and alerts to ensure that the incident is not a false positive. Once validated, they should collect incident data – through tools such as Security Information and Event Management (SIEM) – for an initial assessment of the extent and impact of the breach. Stakeholders, such as the leadership, IT, communications, and legal teams, should also be notified at this stage.

Damage control for affected parties

Following the verification of a security incident, the next step is to contain and eliminate the threat. Here, the IRP should list out possible response procedures and strategies to contain and mitigate the threat, followed by a recovery plan. This could entail re-installing affected systems, restoring data from backups, or changing users’ passwords if passwords are compromised.

Also Read: How an AI cybersecurity company harnesses the power of AI for optimal business performance

Preparing and relaying a public response

Concurrently, the organisation should develop a communication plan to ensure the effective and timely delivery of information to relevant stakeholders, including employees, customers, law enforcement, and the media. It is important that the communications team, together with legal advisors, craft clear communications, conveying urgency, transparency, and responsibility. Having proactive updates using insights from SIEM can be helpful in demonstrating the real-time status of the attack and the effectiveness of containment measures.

Strategies for remediation and recovery

In the aftermath of a cybersecurity incident, IT and leadership teams will need to conduct retrospective analysis to understand the root causes of the incident and take steps to ensure that the vulnerability is addressed. Proactive and transparent communication on efforts taken to reduce vulnerabilities will play a pivotal role in trust restoration.

In today’s ever-evolving cybersecurity threat landscape, the need for a well-crafted IRP cannot be overstated. Cyberattacks have become a pervasive threat, and it is clear that merely reacting post-incident is no longer sufficient. Moving forward, proactive planning will be key to building cyber resilience.

As we navigate the digital age, the case for a robust Incident Response Plan stands stronger than ever, as it not only safeguards against cyber adversaries but also fortifies the foundation of a company’s brand trust and integrity.

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

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WYZauto, an online tyre marketplace for vehicle maintenance businesses in Thailand, has secured US$2.25 million in a pre-Series A funding round led by Vynn Capital through its new Mobility and Supply Chain fund.

Vincent Lee, an early investor in Carsome, Oak Drive Ventures, and existing shareholders, including Philippines-based Kaya Founders, joined the round.

Also Read: No time to have your car serviced? MisterTyre comes to your aid at the tap of a button

Launched in April 2021 in Thailand and May 2023 in Malaysia, WYZauto is a digital enabler for automotive maintenance shops. It connects two-wheeler and four-wheeler vehicle maintenance businesses with top tyre brands. The company works with numerous wholesalers and brands, helping them increase their e-commerce presence and reach new customers.

The startup will soon expand its coverage to include other vehicle parts, aiming to streamline its maintenance supply chain.

Nearly 3,000 vehicle service centres have downloaded the WYZauto app, generating over US$1.6 million of GMV/month.

WYZauto expanded into Malaysia last year. Vynn Capital, with its deep understanding of the Malaysian market and leadership in mobility investments, will actively support WYZAuto’s expansion there. Vynn aims to facilitate mutually beneficial partnerships that accelerate WYZauto’s growth within the Malaysian market by leveraging its existing connections, particularly in the mobility and supply chain sector.

Also Read: AIS The StartUp, SET, NIA to educate Thai entrepreneurs on ESG principles for sustainable growth

“The vehicle maintenance sector in Southeast Asia has room for significant growth. WYZauto is positioned exactly where the market needs it: their streamlining of the tyre supply chain creates a win-win situation for both repair shops, maintenance networks, wholesalers as well as brand manufacturers, driving efficiency and cost savings. We have an optimistic outlook for the company’s growth trajectory and look forward to supporting WYZauto’s continued expansion across countries like Malaysia, the Philippines, Indonesia and Thailand,” said Victor Chua, Founding & Managing Partner of Vynn Capital.

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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 WYZauto nets US$2.25M to connect vehicle maintenance businesses with tyre brands in Thailand appeared first on e27.

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

In today’s dynamic landscape, countless innovative ideas with the potential to profoundly impact the world emerge from early-stage startups. However, the journey from conception to realisation is fraught with challenges, particularly the barrier posed by limited capital.

Early-stage startups often grapple with a host of challenges arising from the lack of capital. These hurdles encompass various operational aspects, including hiring skilled personnel, developing products or services, and scaling the business.

With limited financial resources, startups face the difficult task of prioritising where to allocate funds, often leading to underinvestment in critical areas like marketing or research and development. This financial constraint can impede the startup’s ability to gain traction in the market, innovate, and effectively compete against more established players. Furthermore, the pressure to conserve capital can stifle creativity and risk-taking, limiting the startup’s potential for growth and success.

Also read: Strategic outsourcing: How iScale Solutions helps you grow your team

In addition to the challenges posed by limited capital, early-stage startups often struggle with accessing the necessary resources to execute their business plans effectively. From securing office space and equipment to investing in technology and infrastructure, startups require substantial upfront investment to establish their operations. Without adequate funding, startups may find it challenging to acquire the tools and resources essential for their day-to-day operations, hindering productivity and growth. Moreover, the lack of capital can limit the startup’s ability to attract top talent, as competitive compensation packages may be out of reach without sufficient funding.

As a result, the world risks missing out on the profound societal benefits and advancements that these innovative startups could otherwise deliver. Thus, the critical importance of adequate capital in empowering these early-stage ventures to thrive and positively impact the world cannot be overstated.

Helping startups reach their full potential

Venture capitalists (VCs) play a pivotal role in addressing the challenges brought about by the lack of capital for early-stage startups. Beyond providing much-needed funding, VCs offer invaluable expertise, industry insights, and strategic guidance to help startups navigate the competitive landscape. Their extensive networks can open doors to potential partnerships, customers, and additional sources of financing, accelerating the startup’s growth trajectory. Moreover, VCs often take a long-term approach, providing ongoing support and mentorship to help startups overcome obstacles and pivot when necessary. By serving as catalysts for innovation and growth, VCs significantly enhance the chances of success for early-stage startups.

Championing innovation, VCs are dedicated to nurturing startups and guiding them toward success. Their mission extends beyond mere financial investment, aiming to empower entrepreneurs to realise their visions, drive economic growth, and effect positive change in society at large.

Taking on this mantle is Antler, the investor backing the world’s most driven founders from day zero to greatness. Founded on the belief that people innovating is the key to building a better future, Antler partners with exceptional founders across six continents to launch and scale startups that address meaningful opportunities and challenges.

Also read: How AppsFlyer helps brands navigate a rapidly evolving market

As the most active early-stage VC globally, Antler has invested in more than 1,000 startups across 30 cities worldwide including Singapore, Indonesia, Vietnam, and Malaysia in Southeast Asia. Antler’s global community backs people from the beginning with co-founder matching, deep business validation, and pre-seed capital. Besides being the earliest backer for startups, Antler is also a long-term capital partner that provides expansion support and scale-up funding to breakout companies from Series A onwards.

Aligned with Antler’s commitment to empowering today’s most exciting innovators, they will be joining Echelon X this May 15 to 16 at the Singapore EXPO where they will be engaging with ecosystem stakeholders to meet and potentially collaborate on the next great thing.

“We back the world’s most driven founders from day zero to greatness. Apart from scouting for them during the event, we will also be showcasing selected founders of our portfolio companies to showcase their startups to investors present at Echelon,” shared Ryan Thoo, VP for Marketing & Growth at Antler.

Get to know Antler and more at Echelon X

Keen on meeting founders, entrepreneurs, startup early-employees, domain experts, startup operators, CEOs, CTOs, CBOs, CCOs, COOs, country managers, and heads of different departments, Antler is looking forward to identifying and backing the most promising entrepreneurs and tech talents where they will be showcasing how Antler is a strong option to build startups with and get deal flow from.

Antler is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining Antler are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. Happening on May 15 to 16 at the Singapore EXPO, Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Also read: What is Remote? Meet this top global HR platform at Echelon X!

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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Photo by Sora Shimazaki via Pexels

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This week witnessed a flurry of venture capital activity in Southeast Asia, with startups from various sectors raising significant funds to fuel their growth and expansion plans. From Singaporean proptech innovators to Vietnamese SaaS providers and Thai digital marketplaces, these startups are poised to make waves in their respective industries.

Let’s take a closer look at the standout fundraisers and their ambitious visions for reshaping the regional business landscape.

Probiotics (Singapore)

Probiotics is an antimicrobial peptide technology startup in Singapore. It is engaged in researching and producing recombinant antimicrobial peptides, using novel biotechnology to reduce the manufacturing costs of antimicrobial peptides.

Its first product targets the aquaculture industry, renowned for its antibiotic abuse, where bacterial infections cost shrimp farmers billions in yearly losses.

Funds raised: US$6.2 million
Investors: Seventure Partners, SEEDS Capital, The Yield Lab Asia Pacific, GrainCorp Ventures, Farmabase, Trendlines Agrifood Fund, Ponderosa VC, and others.
Round: Series A

CNV (Vietnam)

Founded in 2020 by Nguyen Tuan Phu and Do Dang Khoa, CNV offers digital transformation SaaS products and marketing growth services to assist enterprises in Vietnam to achieve sustainable growth via marketing, loyalty and e-commerce activities.

CNV currently serves over 2,0000 customers, including multinational corporations, local enterprises, SMEs, MSMEs, and government agencies, helping them optimise their client-facing activities and backend customer data platform analysis activities.

Funds raised: US$1 million
Investors: Wavemaker Partners
Round: Not specified

Mindverse (Singapore)

Founded by former Meta execs and top AI researchers in 2022, Mindverse has developed Artificial Diversified Intelligence (ADI) using the Large Personalisation Model (LPM). Mindverse offers two products: MindOS Studio, which helps businesses create AI-native websites with dynamic, personalised chat experiences, and Mebot, which offers individuals an individualised experience that matches their unique nature. It acts as a digital “second brain” to enhance productivity by learning and analysing user habits, ideas, and preferences.

Funds raised: US$5 million
Investors: Seed
Round: Square Peg (lead)

WYZauto (Thailand)

WYZauto is an online tyre marketplace for vehicle maintenance businesses in Thailand. Launched in April 2021 in Thailand and May 2023 in Malaysia, WYZauto connects two-wheeler and four-wheeler vehicle maintenance businesses with top tyre brands. The company works with numerous wholesalers and brands, helping them increase their e-commerce presence and reach new customers.

Funds raised: US$2.25 million
Investors: Vynn Capital, Vincent Lee, Oak Drive Ventures, Kaya Founders
Round: Pre-Series A

RedDoorz (Singapore)

Founded in 2015, RedDoorz is a technology-driven hotel management company which works with hotels to provide affordable and reliable stays in all major cities and destinations across the region. RedDoorz has operations across more than 80 cities in four countries in Southeast Asia, namely Singapore, Indonesia, the Philippines and Vietnam.

Funds raised: US$28.2 million
Investors: Asia Partners, Mirae Asset Venture Investment, others
Round: Not specified

TradeTogether (Singapore)

Led by CEO Geoff Ira, TradeTogether is a Web3 digital asset management company. The TradeTogether Bitcoin Advantage Fund allows clients to invest in Bitcoin with added protection against market downturns, offering a better experience than traditional ETFs. The startup also provides high-net-worth individuals and financial institutions with transparent solutions in tokenised bonds and Web3 products for receivable financing, moving away from the DeFi platform model.

Funds raised: Undisclosed
Investors: XVC Tech
Round: Not specified

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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 Southeast Asian startups secure millions in venture funding this week appeared first on e27.