In recent years, financial services worldwide, particularly in Europe, have been undergoing a transformation with increased attention paid to sustainability and innovative technologies. Investors are increasingly seeking to finance sustainable solutions to respond to regulators and meet customer expectations.

In addition to this pressure, the reporting requested and the quality of the benchmarks increased with a clearer framework, and the expected information regarding sustainability became more solid. As stakeholders step up their demands for greater transparency, the demands for realistic and auditable sustainability measures will be even greater.

Indeed, the growing range of themes linked to sustainable development, including biodiversity, transition, adaptation, and inclusive finance, play an increasingly important role, while the market for green, social, sustainable financial instruments linked to sustainable development (GIS) continues to grow rapidly.

Furthermore, the growing urgency to combat climate change is driving demand for climate risk management, voluntary carbon offsets, increasing consumer incentives and promoting sustainable cities, industries, and agriculture – reflecting a reinforced commitment to carbon neutrality.

Also Read: The climate change and gender equality connection: How to support underfunded women-owned business

These trends reflect the increasingly holistic approach taken by the public and private sectors around the world towards sustainable finance and sustainability in general, as they commit to solving environmental and sustainability challenges constantly evolving.

Sustainable finance and technology in the European banking sector today

Globally, the logic behind innovative solutions embodies a paradigm shift aimed at encouraging actions by companies or countries to accelerate socio-economic transformation.

Innovative solutions, in this context, are neither inventions nor limited to technology, even if naturally, these are most often inventions focused on technologies.

The financial sector in Europe has sought to invest in these innovative technological solutions with creative approaches that integrate sustainability across global value chains.

These innovative solutions that integrate the environment are also challenges that modify well-established processes. These creative “green” technological solutions are applied to ecosystem services, products, processes, market approaches and organisational structures that should lead to improved sustainability, productivity and “sustainable” (ecological and economic).

Innovative solutions require thinking about the life cycle while integrating all aspects of sustainability: economic, social, and environmental and promoting partnerships across all value chains.

Indeed, in the financial sector, like any other sector, technology plays an essential role in enabling sustainable finance to intensify action in favour of climate commitments. European banks are using technology to deliver their ESG commitments in a way that improves sustainability credentials.

Emerging technologies such as artificial intelligence (AI), the Internet of Things (IoT), and blockchain are helping to overcome challenges in developing sustainable finance while improving accessibility, impact, and reach.

AI

AI, including machine learning, natural language processing, and generative AI, improves sustainability insights and assessments. The application of AI can unlock untapped value from large amounts of available data, helping to pave the way for more comprehensive and faster implementation and adoption of green and sustainable frameworks and practices in finance.

Predictive modelling techniques powered by machine learning can help develop risk models that consider sustainability risk factors. They can also help fill gaps in sustainability disclosures by using AI simulations to predict potential outcomes that would otherwise not be obvious.

Also Read: Critical considerations: Address these 5 questions before scaling your tech startup

AI can also be used to detect inconsistencies in company reporting with other data sources to address money laundering concerns. These approaches, based on the intersection of data and AI techniques, provide a more solid basis for more informed decision-making and capital mobilisation regarding sustainability.

IoT

IoT and sensor technologies also include spatial information technologies and satellite remote sensing. More generally, they contribute to improving data collection and enable continuous monitoring and reporting of sustainability-related measures. Climate data collected from IoT devices and telemetry sensors is used to assess and verify the impact of large-scale sustainability projects, enabling proactive management of sustainability requirements. The proper use of IoT technologies can accelerate the transition to carbon-neutral banking and adaptation to climate change.

Certain banks are mainly studying two use cases. The first is specifically linked to sustainable buildings (and bank branch network) management using IoT. They collect real data from their employees, their devices, and their assets. This data also allows them to define KPIs and make the best decisions for “facility management”.

The second use case is customer-oriented to improve the customer experience while reducing costs. Banks are turning to IoT by using beacons to send personalised offers to customers, and they are no longer in bulk (less storage data) in particular.

Blockchain

Blockchain, this decentralised and secure electronic ledger often considered “the biggest technological upheaval in several decades”, is still in its infancy but promises countless applications that could simplify investments in sustainable development. Blockchain technologies support sustainable finance by improving data transparency, making claims irrefutable, and detecting inconsistencies in disclosures.

Blockchain digital identities and self-executing smart contracts add the ability to streamline consensus between parties undertaking climate finance streams, from verifying ESG measures to creating new sustainable finance products.

Solutions using blockchain capabilities fortify investor and market confidence through the prevention of greenwashing, heightened transparency, traceability, security, and efficiency. Future possibilities include the issuance of sovereign green bonds from governments, micro-credit and collateral security platforms, digital identity, and funds transfer infrastructures.

Collaboration and openness to the world of platforms, beyond European borders, with the ecosystem and the high-tech community will thus be able to make a great contribution to all these actors who truly aspire to a sustainable world considering consciousness, transparency, accountability, and the required degree of urgency towards a sustainable global economy.

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According to Forbes Advisor compiled statistics, it takes around six months for a company to break even in a new role and yet 30 per cent of new hires leave within 90 days.  This ongoing mismatch between how long it takes to onboard a new employee versus the time it takes for that employee to make a call on whether or not to stay in their new job has associated costs that go beyond wages and salaries. And in the case of a budding startup, employee turnover can disrupt or restrain your company’s momentum.

Hiring perceived top talents is expensive, more so if you lose them

The reasons why employees leave your company are not new. The reality of their role does not meet expectations. Company culture is not a good fit. The onboarding experience is bad or disorganised. Actual experience with management is different from the perceptions generated during the interview process.

There is no shortage of advice and tips on how budding startups should market themselves to get and retain top talents. But it is few and far between that startups are asked to do an honest to goodness assessment of the type of hire that it can realistically afford.

And so, startups join the race to attract and, bluntly put — lure — those they perceive as high performers into the Company, only to lose or fire them shortly thereafter due to mismatched expectations, all of which are at a huge cost to the business. The Work Institute’s Retention report put the replacement cost at 33 per cent of that employee’s annual salary.

Also Read: Unlocking Trends: Jobstreet by SEEK’s Hiring, Compensation & Benefits Report 2024

 Avoiding the red flags of a mismatched hire

Startups can avoid the pitfall of hiring the wrong talent by incorporating the following reality checklist in their hiring process:

Do not oversell your company’s culture

There is a very fine line between your actual work culture and where you desire it to be.  Be honest and forthcoming. There is no value in selling a culture that does not exist. Instead, talk about the culture you want to build, where you think your company is currently, and why you think they could help you get there. By doing so, you do not mislead the candidate into thinking of a different version of your work environment in their head.

Stick to a predetermined checklist

In Malcolm Gladwell’s Blink, he pointed out that our snap judgments can be both the product and the roof of prejudice and discrimination. Our first impressions can colour the way we interact with the candidate, and we form this in the first few seconds of the interview. Applying the same structured interview process across all applicants can address this bias.

As much as it is tempting to diverge from the checklist when you are having a great time interviewing the candidate, remember that not everybody can walk their talk, and it is your job to find that out early in the interview process.

Acknowledge that past career successes are subjective

Candidates’ proven track record is not always a sure indicator that they will be valuable in your startup. Dig deeper into the type of work environment and work ethic of the companies they were with during the interview process so you can draw common ground with yours. If a VP of Sales candidate has solid experience and consistently delivered results working for matured companies only, they are most likely struggling to craft and execute your strategy to hit product market fit.

Also Read: Hiring for scale: The evolution of your startup’s customer operations team

Communicate clear expectations and description of the role

There is often an unconscious tendency to spend a lot of time sizing the candidate’s capacity, qualifications, and previous work experience, and not enough time is spent discussing what the work actually entails and whether it is something that the candidate can carry out effectively.

Minimise open-ended questions when screening for skill qualifications

Asking questions like “How do you handle situations where you are expected to deliver multiple priorities at a constrained timeframe?” may give you answers you want to hear but does very little to understanding the candidate’s capacity. Instead, you can ask, “Describe to me any previous work experience where you were asked to deliver multiple priorities at a constrained timeframe.”

 What may be good for the gander is not good for the goose

The Harvard Business Review points out that as much as 80 per cent of employee turnover is due to bad hiring decisions. Replacing a mismatched hire is a tedious and daunting task. It is not only costly; it also affects the morale of the remaining employees, who will have to pick up the slack while the role is unfilled and who would have to retrain (again) the replacement when they are hired.

As venture funding dries up, Startups should hire the talent that matches their current growth trajectory and their current culture to avoid unnecessary costs associated with a mismatch hire. In the end, there is very little value in hiring someone else’s rockstar employee if the environment in which they thrived is not the same as yours.

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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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In Thailand, parcel companies mainly use trains, the most cost-effective mode of transportation, to deliver cargo. However, the underdevelopment of the country’s railway system forces them to use small trucks extensively.

Uwe Dettmann and the team sensed an opportunity there and launched APX (Asia Pallet Express).

Founded in 2019 by Dettmann, Sorawit Tantrakulcharoen, and Sukanya Thamthada, APX provides door-to-door cargo transportation services through its network, with modern platforms for LTL (less-than-truckload) and palletised cargo services. It aims to build a connected truck transport network in Thailand and the ASEAN region to improve logistic efficiency while reducing CO2 emissions and the number of trucks needed on the road in the long run.

Also Read: APX gets ORZON’s backing to build a connected truck transport network in Thailand

“The LTL model allows customers to pay only for the space they use rather than chartering an entire truck seen in the full-truckload (FTL) model. Moreover, the hub-and-spoke approach streamlines distribution networks and leveraging the efficiency of the LTL model to cater to varying shipment sizes and destinations,” says Dettmann, CEO of APX.

LTL, a proven model in regions like the EU, the UK, and the US, has shown its adaptability and effectiveness. APX tailors this model to the unique demands of the Asian market, leveraging Thailand’s strategic geographic location as a gateway to Southeast Asia and major shipping hubs.

APX gathers fragmented trucking companies in various areas through its LTL model and hub-and-spoke trucking system and divides them according to their expertise in first-mile, line-haul, and last-mile services.

By having them operate together under its network, APX consolidates shipments from multiple small trucks into one large co-loaded truck. This reduces CO2 emissions and fuel costs and offers a cheaper alternative.

“For example,” Dettmann shares, “it requires 26 4-wheel trucks to transport 26 tons of consignment over a 300km distance, costing around 26,000 baht (~US$700) and emitting approximately 1,991 kilograms of CO2. Now, if we consolidate the cargo from these 26 small trucks into one 18-wheel vehicle, we’d only pay about 3,818 baht (~US$100), saving more than 7x the cost and reducing CO2 emissions by over 8x to just 292 kilograms.”

“Furthermore, the hub-and-spoke model also helps reduce backhauls. Since every truck in API’s network has to go to the hub, they always carry both inbound and outbound goods, ensuring full loads for both legs of the trip,” he explains.

The startup specialises in door-to-door transportation, allowing businesses and individuals to transport goods conveniently and efficiently. It also uses advanced smart loading plans, plug-in AI, and machine learning to optimise routes and scheduling to ensure timely delivery.

In addition, APX provides warehousing and distribution services, including fulfilment, kitting, co-packing, and custom clearance services, covering land, sea, and air freight.

The startup has established a network of trucking companies with expertise in different jobs and regions. Every truck in its network of over 2,500 undergoes standardised training.  “Previously, fragmented trucking companies couldn’t offer nationwide service. By joining our network, they can now offer this service, creating a win-win situation for both trucking companies and customers,” Dettmann says.

Also Read: Driving change: Female Muslim entrepreneur accelerates success in Indonesia’s logistics-tech arena with TransTRACK.ID

In July last year, APX secured an undisclosed sum in pre-Series A funding led by ORZON Ventures to penetrate Malaysia and Singapore and diversify revenue channels. “Previously, our revenue solely came from domestic services in Thailand. Now, we provide both domestic and international services, covering Thailand, Malaysia, and Singapore. We also have partnerships allowing customers to ship goods door-to-door to the EU region seamlessly,” Datemann says.

One of APX’s key clients is PTT Oil and Retail (the company behind ORZON). Partnering with ORZON helps APX expand in all aspects, increasing revenue, reducing costs, and facilitating member recruitment and expansion.

APX aims to be a one-stop logistics solution offering customers comprehensive services. “We want to provide access to reliable and cost-effective trucking solutions to any region in Thailand regardless of their location, unlocking their potential to new markets across Southeast Asia and supporting development in ASEAN,” Dettmann concludes.
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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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Singapore-based startup Thrixen, which develops a diagnostics platform for infectious diseases, has secured funding, its co-founder and CEO Shavit Clein announced in a LinkedIn post.

The investors are 22Health Ventures, an early-stage healthtech investment firm and biotech company Aldevron’s co-founder John Ballantyne.

The development was first reported by The Business Times, which pegged the funding amount at US$7 million. The capital will be used to advance the development of its diagnostic technology platform.

Also Read: Why ClavystBio believes in life science as a key driver of Singapore’s economy in the future

“I am thrilled to announce that our Thrixen has secured new investors who share our vision for the future of diagnostics! We are honoured that they have put their trust in our team and technology,” Shavit Clein’s post said.

“We have been working closely with the amazing team at 22Health Ventures, who are true partners in our journey to improve healthcare outcomes for patients all over the world. With John Ballantyne , whose support and guidance have been invaluable, we have an incredible team to help us achieve our vision for Thrixen,” he added.

Thrixen was founded in 2021 by international scientists from Singapore and the US. It is a biotech/medtech company that develops a rapid diagnostic platform for infectious diseases. It offers systems for neutralising antibody tests for the detection of COVID-19 diseases.

The startup is involved in the R&D of diagnostic systems and has proprietary technology for biomarker detection, multiplexing, rapid diagnostic testing, and protein engineering.

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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 Thrixen bags US$7M in funding to advance its diagnostics platform appeared first on e27.

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

The exponential growth, driven by rapid technological advancements is reshaping consumer decision-making processes. It signals a significant shift in the way people become aware of, consider, and decide to purchase products and services.

Asia Pacific brands are presented with a massive opportunity to leverage the influence of the creative economy. The key is to learn and navigate the complexities of a massive influencer landscape to find and engage the right people for their brands.

This is where communities can play a pivotal role. Utilising creative industry players and communities can supercharge results and transform artists, influencers, content creators, and even broad audiences brought together by shared interests, offering invaluable services to budding entrepreneurs. Within this dynamic ecosystem, creative industry players and communities can monetise their talents and activities while liberating themselves from conventional limitations. However, for them, partnering with brands to sustain growth remains a daunting task, with many facing barriers due to a lack of access to the necessary infrastructures.

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

Communities serve as invaluable hubs for brands, offering direct connections with audiences, fostering loyalty, and providing feedback crucial for refining offerings. Audiences amplify brand messages, enabling authentic engagement, and serve as catalysts for word-of-mouth marketing and organically expanding reach. 

Indonesia, one of the largest markets in Southeast Asia, is home to one of the most exciting startups designed to ensure that communities are nurtured and managed properly by allowing them to spearhead and monetise their creative events.

Beyond events ticketing, TipTip builds communities at the forefront

TipTip is an all-rounded entertainment platform that fosters vibrant communities at the forefront of Indonesia’s creative scene. Through a comprehensive suite of features, TipTip connects creators, communities, and brands, revolutionising entertainment engagement.

At the core of TipTip’s mission lies the creation of community clusters tailored to match brand needs. Utilising automated AI, TipTip understands marketing briefs and brand requirements with natural language processing. Smart matching capabilities and data-driven recommendations also help expedite the search for ideal communities.

TipTip’s AI-driven approach revolutionises the brand-community partnership, accelerating the process of finding ideal matches and unlocking new monetisation opportunities for creators and communities. While also providing real-time trends and insights, empowering brands with up-to-the-minute information for informed decisions. TipTip emphasises its commitment to seamless user experiences and efficient operations.

Also read: TipTip: Reshaping Indonesia’s creative economy one creator at a time

The network effect amplifies TipTip’s impact as the community grows. With an expanding roster of communities and events, users access diverse experiences, while brands enjoy increased visibility and engagement opportunities.

TipTip’s matching capabilities allow brands to narrow down options based on specific criteria, leveraging technology to analyse their needs effectively. This ensures brands find the perfect fit for their objectives, driving meaningful connections and maximising impact.

In essence, TipTip stands as a trailblazer in Indonesia’s creative economy, bridging the gap between creators, communities, and brands with unparalleled efficiency and innovation. Whether redefining event experiences or fostering authentic connections, TipTip remains dedicated to empowering the creative ecosystem and driving sustainable growth.

TipTip takes the stage to dazzle with groundbreaking insights at Echelon X

Armed with his expertise as the Group CEO and Founder of TipTip, Albert Lucius will be participating as a panellist for the upcoming Echelon X — Echelon Asia Summit’s 10th-anniversary event happening on 15-16th May 2024 at the Singapore EXPO Hall 2. Echelon X aims to supercharge its flagship programs, tailored to the evolving needs of the next generation of tech leaders.

Together with Theresa Tjandrawinata, Senior Business Development Manager at e27, Lucius will be sharing insights on the topic “Why Does Tech Matter in Disrupting the Creative Industry in SEA/Indo?” Ecosystem stakeholders and other interested participants can also speak with him and the rest of the team during the networking segments of the conference proper.

Also read: ADA unveils AI CoPilots to revolutionise marketing and commerce for global enterprises

TipTip is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining them are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. 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.

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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