In the ever-evolving world of startups, where the quest for unicorn status — startups valued at over a billion dollars — reigns supreme, a quiet yet significant development is unfolding. In the current investment climate, there is a notable shift away from solely chasing unicorns. Investors and industry leaders have started to focus on startups, prioritising profitability and scalability over unicorn status.

The recent ‘funding winter,’ evident in Southeast Asia’s lowest quarterly funding in five years, has prompted a re-evaluation of how startup growth is measured. The Philippines isn’t insulated from winter, as the country has also seen a 40 per cent decline in funding in 2023.

In this landscape, high-value startups are pondering the question, “What lies beyond achieving unicorn status?” For these companies, the goal extends beyond reaching a US$1 billion valuation; it entails building a resilient, viable, and profitable business model that places a strong emphasis on impact and the tangible benefits it delivers to consumers.

With a growing emphasis on impact, sustainability, and profitability, how will this reshape the startup ecosystem?

It starts and ends with impact

At the core of our business, we believe that startups are created to solve a need. In Southeast Asia, there is rich diversity across the region, but even with the market differences, there are also shared challenges. These include the need to accelerate digitalisation across its populations and various industries in order to foster innovation and continue the region’s growth, according to a January 2023 paper from the International Monetary Fund. 

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

In addition, the IMF sees digital inclusion as extremely crucial in the region, with nearly half of SMEs face significant barriers in technology adoption and around a quarter of the population still have little-to-no access to digital services.

As part of the Globe Group and the company’s journey from telco to techco, we take these challenges into account to ground our startups on impact-driven insights that will allow us to create opportunities for digital inclusion. We keep this in mind as we work towards building more scalable, profitable, and sustainable businesses.

With how fast the landscape is changing, it’s important for startups to be agile and resilient–to be able to pivot when necessary but still keep impact at the core of every decision. At 917Ventures, this translates to aligning all ventures we build with a singular mission: uplifting the lives of Filipinos–be they individuals, businesses, or communities.

We recognise that impact goes beyond profitability and that true sustainability involves creating businesses that not only endure challenges but actively contribute to a better, more sustainable future.

Venture building vs venture capital

As a venture builder, the funding winter affects us differently–in that, we do not necessarily focus on fundraising, but rather, we channel our efforts towards generating more impactful ideas that can help the industries that we support to be more cost-effective and empowered through our digital solutions products.

We do this alongside conducting thorough assessments on profitability and strategically navigating challenging environments. The 917Ventures mindset centres on crafting digital solutions addressing everyday challenges for Filipinos, emphasising sustainability. With a track record of vetting over 900 ideas, scaling dozens of ventures, and managing a portfolio of 13 startups, our focus extends beyond aspiring to create the next unicorn. 

Being in the industry that we are in, there are times when tough decisions like rejecting ideas or scaling back ventures become necessary. This is an unfortunate cost of innovation—recognising when a venture has already reached saturation point and no longer aligns with market demands.

Also Read: Cracking the code: Key traction metrics early stage investors seek in startups

There is loss incurred, yes, but the lessons we take with us from these tough decisions equip our future strategies and in-house entrepreneurs (venture builders) — many of which are still young–with strengthened skills in resource reallocation and overall business resilience.

Risks are worth taking, especially when they pay off – proven by our startups that have emerged as industry juggernauts—with many on their way to doing so, as well.

GCash, for one, has grown into the Philippines’ only duacorn and has become the vehicle for digital transformation in the country through its inclusive financial solutions to more than 95 million Filipinos around the world. Our fintech solution has given more Filipinos access to banking services, digital payments, and insurance–effectively democratising access to financial services for a country where 30 per cent of adults still do not have formal bank accounts as a July report noted that the Bangko Sentral ng Pilipinas (Philippine Central Bank) predicts that 70 per cent adult Filipinos have formal bank accounts by end-2023.

Several of our other startups have also begun making waves–particularly RUSH and KodeGo, our e-commerce and brand loyalty platform and edutech solution, respectively. RUSH has supported almost 2,000 merchants nationwide in their digital transformation journey, helping their businesses build digital payment gateways and create strong customer relations. 

Meanwhile, KodeGo is on its way to successfully graduating over 2,000 students by the end of December 2023–many of which are women–playing a key role in addressing the advanced digital skills gap in the country with their study-now-pay-later scheme. 

These are just two of our ventures that we are seeing make headway in truly empowering local entrepreneurs and professionals in their digitisation journey. 

At length, the long-term success of startups is increasingly intertwined with their ability to create positive change. Impact-driven strategies not only boost a startup’s reputation but also cultivate a resilient and adaptable business model. Prioritising impact becomes a strategic imperative as startups navigate the dynamic business landscape, contributing to sustained profitability, growth, and enduring success.

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Anichess, a chess-based online strategy game developed in partnership with Chess.com and five-time World Chess Champion Magnus Carlsen, has completed its US$1.8 million funding round.

Sfermion, a US-based multi-strategy investment firm focused on the immersive internet, and Amber Group, led the round, with participation from Fenbushi Capital, Aspen Digital, SNZ Capital, and others.

Also Read: Animoca subsidiary Anichess closes US$1.5M seed funding round

Anichess will use the fresh capital to fund game development, marketing initiatives, and team expansion.

Anichess is a Web3 gaming project developed in collaboration between Animoca Brands and Chess.com, the leading global online chess platform. It provides a novel tactical twist by implementing spells that open up new strategies and gameplay and require players to rethink traditional chess rules as they uncover the expansive lore within the world of the gameboard.

In 2023, Anichess closed an oversubscribed US$1.5 million seed round. In January 2024, the startup launched its player-versus-environment (PvE) daily chess puzzles. It claims to have secured over 1,000,000 registered players while maintaining an active user base of 150,000 daily active users who have collectively solved over 50 million chess puzzles.

Anichess’s Season 1 leaderboard was launched on 11 March 2024, ranking players based on points accumulated from solving daily puzzles and collecting Orbs of Power obtained through gameplay and participation in social events. Its online player-versus-player (PvP) game mode is expected to launch in Q2 2024.

Also Read: Web3 is going to redefine labour in Asia in a big way: Animoca Brands’s Yat Siu

Dan Patterson, General Partner of Sfermion, said: “The future of gaming is community-driven and player-owned, and we believe that, with Chess.com’s existing community of 150m+ players and Web3 communities such as Mocaverse, Anichess has the potential to onboard tens of millions of players into that future. With the added strategic components and esports-like elements, Anichess aims to keep things fresh by building for the gamers who yearn for the hardest challenges.”

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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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My journey in bio-entrepreneurship started for me at a very tender age of seven years old. The experience of going to the hospital and seeing how doctors could heal and save lives seeded an aspiration that drove most of my career choices and decisions later in life.

Today, I am the Founder of Invitrocue, the leading provider of personalised oncology and Bio-Analytics Solutions in the region. It is an exciting time for us as we have just received a breakthrough with Onco-PDO, the first clinical cancer drug screening test in Singapore that looks to personalise cancer treatment by regrowing patients’ own cancer cells in its laboratories, improving clinical outcomes and reducing overall treatment costs and time. Invitrocue is also one the major provider of in-vivo drug testing services for global pharmaceutical and Biotechnology companies.

However, the road to becoming a bio-entrepreneur is not just about launching a business; it’s about fostering innovation, creating solutions, and the advancement of medicine. In other words, the entrepreneurship road in the field of healthcare and biotechnology can be daunting; it requires not only a deep understanding of the sciences but also an entrepreneurial mindset and a deep wellspring of inspiration.

Having been involved in the healthcare and Biotechnology industry since the late 1980s, I have observed and participated in the rapid growth of this industry.  A key driver for this rapid growth was the demographic shift towards an ageing population globally. As we progress in our understanding of chronic diseases such as cancer, our advancement in diagnostic technologies has shifted from mass treatment approaches to tailored, technologically-driven interventions.  

For would-be entrepreneurs looking to enter the biotech sector, these are the three key areas that they will need to consider — the good, the bad, and the possibilities.

The bad: challenges of a bio-entrepreneur

“There is no Gain without Pain” – personal and financial sacrifices are a constant theme in entrepreneurship, especially in the medical and biotechnology field.

As a bio-entrepreneur, some of the biggest challenges you will face include the accessibility and readiness of the market to accept your product or services. This involves overcoming scepticism from stakeholders, reimbursement challenges, and competition from existing solutions. Demonstrating clinical efficacy, safety, and cost-effectiveness is crucial in fostering acceptance among stakeholders. 

Also Read: From chatbots to therapists: How AI break ground in bridging the mental health care divide

Equally important is Market Readiness. If the venture goes to market too early, the risk is that bigger or better-resourced companies may take advantage of it. If you go to market too late, competition will be high, and margins can be low. In the case of Invitrocue, significant efforts were invested in assessing and quantifying Market Readiness above all else.

Beyond this, I also had to consider factors such as the scientific complexity of my research, the regulatory compliance, as well as the technological and capital risks associated with any med tech business will need to be anticipated.

Take the launch of Onco-PDO for example. The scientific pursuit was marked by intricate complexities, including the need for robust research, extensive experimentation, validation and regulatory processes. Negotiating this complex terrain involves approvals, licences, and safety assessments and they are time-consuming and resource-intensive. From research and development (R&D) to clinical trials and commercialisation, the journey from concept to market-ready product demands substantial financial investment. 

To navigate this, we had to work closely with leading researchers and institutions. We also sought to protect our technology and Intellectual Property via legal experts and continual monitoring of competitor activities. The company invested well over 7 years to be able to offer a validated clinical service. Today, this service is available commercially in Asia and Europe and covered by selected public healthcare insurance.

The good: Overcoming challenges

So when faced with such a daunting set of challenges, how do bio-entrepreneurs like myself navigate the risks of starting a nascent biotechnology company? This can be best summarised in the following lessons.

Talent acquisition and innovation

The key consideration in talent acquisition and development for biotech startups is to understand that different talents are needed for different stages of growth. For example, for biotech companies in the very early stage, talents are usually more experimental and higher risk takers. Conversely, for late-stage growth biotech companies, strategy compliance and fewer risk-takers are needed.

Recruiting and retaining top talent is critical for driving innovation and growth in biotech startups. Fostering a culture of innovation and adaptability is essential for navigating the dynamic biotech landscape. Encouraging creativity, collaboration, and experimentation empowers employees to think outside the box and pursue novel solutions to complex challenges.

Also Read: Beyond apps and telehealth: The power of the Village approach for mental well-being

Embracing a growth mindset and remaining agile in the face of setbacks enables startups to pivot, iterate, and evolve their strategies in response to changing market dynamics and scientific breakthroughs.

Leverage collaborative partnerships

Collaborating with academic institutions, research organisations, and established industry players can provide valuable resources, expertise, and infrastructure to overcome scientific and technological challenges. By forging strategic partnerships, startups can access specialised knowledge, shared facilities, and funding opportunities, accelerating the pace of research and development.

Secure diverse funding sources

Diversifying funding sources is crucial for mitigating the financial risks associated with biotech startups. In addition to traditional venture capital funding, entrepreneurs can explore alternative financing options, such as government grants, angel investors, crowdfunding, and strategic partnerships.

Leveraging non-dilutive funding opportunities and milestone-based financing structures can provide greater flexibility and sustainability in the early stages of development.

Adopt strong regulatory compliance

Proactively addressing regulatory compliance is paramount for navigating the path from research to commercialisation. Engaging with regulatory experts and consultants can help startups understand and navigate the complex regulatory landscape, including FDA approvals, clinical trial requirements, and product labelling regulations.

By integrating regulatory considerations into the product development process from inception, startups can minimise delays and compliance-related risks.

The possibilities: Future of biotech innovation

There has never been a better time in human history to be a bio-entrepreneur than today; we are entering the golden age of biotech innovation. 

Mankind is now witnessing a significant cadence in the rate of new medical discoveries and cures, driven by technological advancements such as Quantum Computing, Synthetic Biology and Gene Editing. The convergence of these technologies, along with advancements in Artificial Intelligence, machine learning, and nanotechnology, is enabling scientists to design more sophisticated therapies and biomedical solutions with unprecedented precision and efficiency.

Advancements in genomics, proteomics, epigenetics and data analytics are also paving the way for personalised medicine tailored to individual genetic makeup, lifestyle factors, and disease profiles. In the future, healthcare will also shift towards preventive and personalised approaches, leveraging genetic and phenotypic disease modelling to predict disease susceptibility, customise treatment regimens, and optimise patient outcomes.

As a species, we now possess the necessary technological know-how to determine and overcome our biological conditioning. Such an event can only drive the leap in our own evolution. Whenever someone chooses to be a bio-entrepreneur or invest in biotech, I sincerely look forward to their pursuit, with the greatest hopes that it will further mankind’s future well-being. 

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In his written piece for Forbes, author and futurist Bernard Marr stresses that marketing is one of the areas of business operations where it is widely predicted that Artificial Intelligence (AI) will drive enormous change.

“The chances that there are people out there doing marketing today and not using AI in any shape or form is somewhat unlikely. This is simply because there are so many tools with AI features that we are used to using without even thinking about it,” Marr says.

“The most frequently used social and search engine advertising solutions, email marketing platforms, e-commerce solutions, and tools designed to assist with content creation all provide functionality that taps into what we refer to as ‘AI’ in business today.”

Next month, at Echelon X, there will be four major conference themes that the attendees will get to dive deep into: Agile Business Practices, Sustainability & Responsibility, Collaborative Ecosystems, and Fostering Creativity. The use of AI in various aspects of business operations–and its role in digital transformation–will be one of the topics that we will touch. Marketing analytics will certainly be part of this.

This is why companies that are working to provide marketing analytics services play an essential role in the ever-evolving landscape of business. As data becomes increasingly abundant and complex, these companies offer indispensable insights into consumer behaviour, market trends, and campaign effectiveness. Leveraging advanced analytics tools and techniques, they empower businesses to make informed decisions, optimize strategies, and maximize returns on investment.

Also Read: Mobile marketing analytics startup AppsFlyer secures US$210M from General Atlantic, opens office in Indonesia

In this listicle, we examine the five marketing analytics companies that have led the field and will continue to do so.

ADA Asia

With 12 offices across Asia and boasting a workforce of around 1,400 professionals, ADA maintains a formidable presence in the region, with dual headquarters in Singapore and Malaysia.

Offering a comprehensive array of services, ADA empowers enterprises and brands to enhance their data transformation, digital marketing, and sales strategies across Asia. The company recently unveiled a case study elucidating how data can elevate the retail experience, showcasing its commitment to driving innovation and excellence in the industry.

Nielsen

As a global leader in audience insights, data, and analytics, Nielsen shapes the landscape of media and content worldwide. Operating in over 55 countries, Nielsen empowers clients with independent and actionable intelligence, enabling them to connect and engage with their audiences effectively now and in the future.

Recently, Nielsen released its sixth Annual Marketing Report, based on a survey of nearly 2,000 global marketers, uncovering insights into their priorities and strategies to enhance ROI in 2024 and beyond. The report highlights the continued significance of social media, search, and online/mobile video and displays them as effective marketing channels. It also emphasizes the importance of a cross-media strategy to capitalize on potential revenue opportunities.

Also Read: How Shopee uses AI, data to build a marketing strategy that suits changes in user behaviour

Semrush

Semrush, a leading online visibility management SaaS platform, has revolutionised digital marketing for over a decade. Starting in 2008 with a small team of SEO and IT specialists, Semrush aimed to level the online playing field by providing fair and transparent competition opportunities. Now serving over 10,000,000 digital marketers globally, Semrush has evolved into an all-in-one marketing suite featuring 55+ products, tools, and add-ons, streamlining companies’ online marketing efforts.

Their vision extends to becoming the ultimate digital marketing tool, optimising results, fostering seamless team collaboration, and saving time on repetitive tasks. As a trusted data provider, Semrush’s insights into online behaviour are relied upon by major media outlets worldwide, including Bloomberg, The Washington Post, and Reuters.

Brandwatch

Bringing together consumer intelligence and social media management, Brandwatch facilitates seamless customer interaction at the pace of social media trends. By amalgamating consumer insights with robust social media tools, they empower businesses to react swiftly to relevant trends, collaborate on data-driven content, safeguard their brand reputation, and efficiently manage multiple social media channels. Their offerings include consumer intelligence to comprehend market dynamics, social media management for effective customer engagement, and influencer management for comprehensive campaign oversight.

With tailored product packaging, they ensure businesses are equipped with the precise tools and features necessary to meet their unique needs and objectives.

Similar Web

Listed on NYSE as #SMWB, Similar Web powers businesses with unparalleled digital data. It is driven by a mission to equip every enterprise with the most accurate and actionable insights to dominate their respective markets. Recognizing the paramount importance of digital channels in driving growth and profitability, Similarweb offers a comprehensive platform that provides customers, including some of the world’s leading brands, a holistic view of digital activities across customers, prospects, partners, and competitors.

Trusted by renowned figures such as Jimmy Kimmel, Similarweb’s insights give businesses a distinct digital advantage, enabling them to outperform competitors and emerge victorious in their markets.

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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 two 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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Studies have shown significant wait times of one to five years for treatment for individuals with developmental disabilities such as autism, who might be struggling with a high-level of anxiety and sensory challenges. This underscores a critical challenge in the field: a heavy reliance on human resources, which can limit access to timely care for those who need it most.

A South Korean social venture aims to address this challenge with a unique product. Dolbomdream has developed the HUGgy vest, designed to improve the quality of life. The vest utilises Deep Touch Pressure (DTP) to provide the calming effect of a hug for individuals with developmental disabilities. This aims to alleviate stress and anxiety, potentially contributing to a new paradigm in mental healthcare.

The inspiration: Founder’s journey

Raised in an environment where entrepreneurship thrived — his father owned a business — Kim Jihun, Founder and CEO of Dolbomdream, was naturally drawn to starting his own venture.

“During my postgraduate studies at KAIST’s Department of Business and Technology Management, a course on startup convergence introduced me to the concept of social entrepreneurship. This notion deeply resonated with me — the idea of addressing societal issues while maintaining a sustainable business model,” he said.

While volunteering at a welfare centre, he observed the use of weight vests to soothe children with developmental disabilities. Recognising the potential to improve this method, he envisioned an inflatable alternative gentler on growing skeletal systems. “Additionally, witnessing the prolonged wait times for treatment among individuals with developmental disabilities, I saw an opportunity to introduce a technology-driven solution to bridge this gap. Thus, the concept of the HUGgy vest was born,” said Jihun.

How the HUGgy vest works

Dolbomdream specialises in mental healthcare solutions, offering the HUGgy smart care vest to address sensory challenges. Utilising DTP technology, the vest mimics the calming effects of a hug, fostering psychological stability. Equipped with inflatable technology and biometric sensors, the vest can monitor the user’s psychological state.

The HUGgy vest provides a lightweight alternative to traditional weighted vests, enhancing comfort and mobility. It benefits autistic individuals and has potential applications in supporting seniors and sleep disorder patients.

The vest features non-contact biometric sensors for heart rate monitoring, relaying data to caregivers through a dedicated app for real-time analysis.

Dolbomdream is also developing a centralised platform for administrators to oversee multiple users simultaneously.

Also Read: How mental health startup Intellect’s founder catalysed his personal battle with anxiety

“There’s a growing demand for remote healthcare solutions, particularly those catering to vulnerable populations, such as the elderly and infants. Our remote biometric monitoring technology, boasting over 95 per cent accuracy in measuring vital signs through Ballistocardiogram (BCG), positions us strategically to address these emerging needs. By leveraging this technology, we aim to expand our offerings beyond developmental disabilities to serve a broader spectrum of healthcare requirements,” shared Jihun.

Navigating revenue models and overcoming challenges

Dolbomdream’s primary revenue streams are derived from the sale and rental of HUGgy vests. The company is considering a subscription mode for its institutional monitoring platform to diversify its revenue streams. The subscription fee is priced at around US$300 per month per user.

Addressing the hurdles encountered during product development, Jihun remarked, “A significant challenge has been the iterative process of refining our product to meet customer demands, particularly as it involved venturing into unfamiliar territory like apparel manufacturing. This journey entailed numerous cycles of trial and error, resulting in considerable time and cost investments. However, the team’s commitment to continuous improvement, coupled with positive feedback on the final product, has validated our efforts and fueled our resolve to overcome challenges.”

Dolbomdream’s funding journey and future plans

In February 2024, Dolbomdream received undisclosed seed funding from Quest Ventures, advancing its goal to become the top mental healthcare provider by 2030. To achieve this, it is focused on developing an integrated management system that harnesses biometric data to enhance treatment outcomes for disabled individuals.

“Unlike conventional healthcare settings reliant on manual records, our platform offers a systematic approach to monitoring and intervention, paving the way for transformative advancements in mental healthcare delivery,” Jihun noted.

Dolbomdream’s HUGgy vest offers a promising solution for improving access to mental healthcare, leveraging technology to bridge the gap in treatment. With a focus on expanding applications and data-driven care, the startup positions itself for a future of positive impact.

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Image credit: Dolbomdream

This article was first published on March 7, 2024

The post ‘HUGgy’ng innovation: Dolbomdream’s tech vest aims to bridge mental healthcare gap appeared first on e27.

Last week, Singapore-based cultivated seafood startup Umami Bioworks announced a merger with cell-based crustacean meat company Shiok Meats in a rather unexpected move. The deal raised many eyebrows as the alt-protein market is far from mature, and consolidation is many years away.

However, Umami CEO Mihir Pershad sees the merger as good and timely, allowing the two firms to establish a one-stop-shop for seafood incumbents wanting to adopt cultivated production.

Umami CEO Mihir Pershad spoke with e27 and shared the rationale behind the deal and how it will impact the alt-sea food industry in Southeast Asia.

Edited excerpts:

Can you tell us more about the motivation behind the merger between Umami Bioworks and Shiok Meats and how it positions the combined entity in the cultivated seafood industry?

As Umami began submitting its first regulatory dossiers and signing initial customers for production facilities in Q4 2023, we felt it was a good time to take a more strategic look at how the industry may evolve in the next few years and how we could position the company to be the partner of choice for incumbents looking to adopt a more sustainable production technology.

The merger with Shiok Meats stood out as an opportunity to bring together the IP, resources, and commercial progress of two pioneers in the sector to establish a leading platform for cultivated seafood.

This merger allows two companies with complementary strategic priorities in cultivated seafood to combine their resources, commercial relationships, and species pipelines to establish a leading platform that can be the one-stop-shop for seafood incumbents wanting to adopt cultivated production.

With Umami Bioworks leading the merged entity, what are the key strategies or initiatives you plan to implement to leverage the strengths of both companies and drive growth?

Umami has focused on International Union for Conservation of Nature (IUCN)-listed fish species that are unsuited to commercial farming and are facing growing demand, including eel, tuna, snapper, grouper, and halibut, whereas Shiok Meats has prioritised work on crustaceans, including shrimp, crab, and lobster.

Together, these species represent a robust pipeline of several of the most at-risk and commercially desired seafood products.

Also Read: Alt-food revolution: A look at SEA’s growing demand for sustainable food

Further, Umami can now extend its platform technologies for screening, continuous production, and machine learning-based automation to the Shiok crustacean portfolio to accelerate the development of cell lines, production processes, and commercially ready products.

How do you envision the continuation of Shiok Meats’s work on crustaceans under Umami, and what potential impact do you foresee in addressing market demand and sustainability challenges?

We have seen a strong pull from the market, including our existing strategic partners, for cultivated crustacean options. We are committed to continuing the development of crustacean cell lines that enable scalable production.

Further, Umami’s priority has always been ETP (endangered, threatened, and protected) species that are unsuited to large-scale commercial farming and are facing growing demand. Crustaceans like lobster and crab are aligned with our strategic mandate.

With growing instability in crustacean supply and an increasing number of crustaceans being added to the IUCN Red List, we believe that creating a sustainable alternative to the current wild catch of crustaceans will be critical to preserving these species in the wild while meeting rapidly growing demand.

As per a news report, you plan to bring cultivated unagi and white fish to the market via hybrid product applications. Could you elaborate on the significance of these choices and the expected market reception?

We are initially planning to bring cultivated unagi (eel) and white fish (grouper) to the market, as these are the most advanced species in our pipeline and those for which we already have commitments from existing strategic partners. We selected unagi initially because it is an iconic and culturally important species in many Asian countries, and we believe that preserving this food heritage will be a strong element that can motivate consumer adoption.

Grouper, while also culturally important in many Asian countries, we selected for its versatility. Whitefish is the second largest category in seafood but includes a wide variety of culinary preparations and product formats, from fillets to smaller cuts. Grouper’s versatility will allow us to develop a range of products with multiple global food companies, establishing a more rapid path to scalability and offering a diverse range to consumers.

The cultivated seafood market is still in its early stages. How do you see this merger impacting the broader industry landscape in the APAC region?

Cultivated seafood as a sector is now on the cusp of commercialisation and initial scale-up. As the cultivated industry is starting to mature, we believe that M&As like this one are good for the industry, as they allow for the consolidation of IP and resources to accelerate commercialisation and scale-up.

Our goal with this merger was to establish a leading cultivated seafood platform globally and to become the partner of choice for seafood incumbents looking to adopt cultivated products. Umami will now have one of the deepest pipelines in the cultivated sector along with a licensing commercial model that will allow us rapid industry adoption that will be needed to increase seafood supply to meet expected demand growth over the coming two decades.

As the cultivated seafood sector progresses towards commercialisation, what are the main challenges or obstacles that Umami Bioworks anticipates, and how do you plan to address them?

Regulation and market access: Currently, the US is the only major market where cultivated products can be sold. Singapore and Israel are much smaller markets. Most food incumbents – and investors – want to see more markets available before they invest in establishing large-scale production and investing in category creation for cultivated.

Further, regulations to allow market testing of products with consumers are also unclear or unwritten in many markets, making it challenging to test products for acceptance and market fit.

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

Umami is working closely with a number of government and industry bodies to accelerate the development of frameworks for market testing and commercialisation.

Consumer acceptance and education: Once cultivated seafood products are available for sale, we believe it will be essential to establish a clear identity for the category to help consumers understand what cultivated seafood can offer and why they should care. This is a critical and often overlooked aspect of building a new category and will require localised messaging based on market research into the desires and concerns of consumers in various regions.

Scale-up and industrialisation: Producing a few kilograms of cultivated fish is one thing. Producing it at scale, reliably, with rigorous quality and production standards is another. We call this industrialisation, and at Umami, we believe it is one of the most critical aspects to the success of cultivated seafood. This is partially an engineering challenge to ensure production systems are reliable and rigorously evaluated in a factory environment and partially a biology challenge, ensuring sufficient process controls to manage a bioproduction process in different seasons and climates and regional variations in supply chains.

Umami engages closely with strategic suppliers to bring production experts into the process design and validation phase in early scale-up. Then we specify those to ensure reproducibility between production sites.

With regard to regulatory approvals, what are the key considerations and milestones for Umami Bioworks as it prepares to launch its products in various markets, including Singapore, the US, and beyond?

In our view, the first major milestone is establishing a clear and comprehensive theory of safety that allows for transparent communication of risks, benefits, and mitigation or validation approaches, which is critical.

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

With only three exceptions, most regulators worldwide do not have frameworks that have been used to approve products yet – and none have yet approved seafood – so establishing a roadmap with regulators is critical. Beyond that, conducting experiments and generating the data from the dossier is an ongoing set of milestones as our process continues to mature. We also work with regulators to clearly delineate what will be included in our initial dossier and to separate new technologies and approaches that may only be incorporated in the future.

How does Umami Bioworks plan to navigate the competitive landscape in the cultivated seafood industry, especially considering the emergence of other players and evolving consumer preferences?

The cultivated seafood sector is still nascent, with no products yet available in the market or approved by regulators. Given the immature state of the industry, we believe that the startups in this space have a shared challenge to successfully bring the first products to market and educate consumers about the category. The emergence of additional startups is not much of a concern today, as the seafood market is nearly US$200 billion globally, and we are all collectively capable of serving a small fraction of that in the next few years.

The broader challenge of establishing a category identity for cultivated seafood, determining the key factors to achieve product-market fit with consumers, and navigating the myriad regulatory regimes globally is far more critical.

Looking ahead, what are the key markets that Umami Bioworks aims to target, and what strategies will be employed to establish a strong presence and capture market share?

Due to clear regulatory frameworks and established regulatory review processes, Umami will initially focus on Singapore and the US. However, we see multiple key markets in Asia, including Japan, South Korea, and China, which have a tremendous appetite for priority species and growing seafood demand.

We are currently actively engaged with multiple regulators worldwide and are planning several regulatory dossier submissions this year.

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

Once we have completed the integration, we will also establish a clear roadmap for crustacean approvals that are in line with our customers’ market priorities.

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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.

This article was first published on March 18, 2024

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

Development of the digital ecosystem in Indonesia showing a positive result of growth. The growing number of internet users is the main factor of this growth. To support and empower the development of the digital ecosystem, real action from several institutions will be needed. The main goal of this ecosystem is to help tech companies and startups from early to mature stages reach their potential by implementing technology. A supportive and functional ecosystem can boost both technology and innovation development. 

In building a digital ecosystem, there are several challenges such as the need for a digital talent pool compounded with the difficulty in finding talent with digital skills, and equal distribution of internet access. Innovation hubs address key challenges in bringing support and resources to innovative organisations, fostering productivity by executing a well-thought-out blueprint. The goal is to allow the companies housed in these spaces to thrive.

Also read: Wallex: Driving business growth with secure cross-payments

To this extent, Sinar Mas Land has come up with an ambitious project designed to support the growing Indonesian, and subsequently, the Southeast Asian regional tech industry. Built almost a decade ago, over 40 tech companies and 700+ startups are housed inside the Digital Hub at BSD City. Case in point, Indonesian e-commerce company Sirclo has been part of BSD City’s Digital Hub ecosystem since 2018, among other notable names such as Microsoft, Traveloka, AWS, and Living Lab Ventures.

The Digital Hub envisions becoming the future technological ecosystem of Indonesia, comprising creative institutions, education, enterprises, talent development, startups, venture capital, as well as national and multinational companies.

More than a land development project, Digital Hub is a well-thought-out blueprint for innovation

Situated on a 26-hectare plot of land within the core of BSD Smart City’s Central Business District, Digital Hub is crafted as a sprawling, eco-friendly hub for tech commerce, which aims to serve as a centre for Indonesia’s upcoming innovators, enterprises, and organisations dedicated to shaping a more interconnected and environmentally aware future.

Currently, two major developments are utilised and inhabited, each one meticulously planned to empower innovation. 

One is called the Biomedical Campus, dedicated to elevating the standard of healthcare and positioning Indonesia as a leading destination for medical tourism. Their mission is to establish a thriving ecosystem by fostering partnerships, collaborations, and cooperation with experts across various sectors of the medical field, including research centres, manufacturers, practitioners, health service providers, and education institutions.

Various resources are available, including advanced facilities like smart maker spaces, all while enjoying the beneficial effects of nature on creativity and well-being.

Also read: Echelon X: Meet the Exhibitors who will showcase their innovations

Innovators can further capitalise on this benefit by incorporating the Digital Hub’s Urban Forest into their daily work schedule, utilising the vast multipurpose park meant for recreation, sports activities, and meetings in a relaxed outdoor setting. Workstations, sports facilities, and an outdoor cinema are also available for use. Digital professionals can also take advantage of the full wi-fi coverage and solar energy-powered outlets.

In principle, the Digital Hub is built under six elements of productivity as the overall direction in realising the vision — Diversity, Mobility, Connectivity, Interaction, Health, and Camaraderie. 

Irawan Harahap, CEO of the Digital Tech Ecosystem & Development Sinar Mas Land, explained, “Our company’s mission is to empower and accelerate the growth of startups and entrepreneurs across Asia and nurture future talents to foster innovation, driving economic growth, and creating a vibrant startup ecosystem in the region by providing them with access to cutting-edge resources, mentorship, and opportunities for collaboration.”

Bringing the Digital Hub experience to Echelon X

It is with great anticipation that Digital Hub will be participating in 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 is aimed towards supercharging its flagship programs to tailor to the evolving needs of the next generation of tech leaders.

This aligns perfectly with Digital Hub’s mission, as it allows its team to connect with like-minded individuals, share knowledge, and explore partnerships that will propel the growth and success of startups throughout Asia.

Irawan mentioned, “We are looking forward to the networking opportunities at this year’s [Echelon X]. Connecting with other industry leaders, potential partners, and investors is invaluable for expanding our reach, gaining insights into market trends, and exploring collaboration opportunities.”

Attendees can expect the Digital Hub experience condensed in their exhibition booth. “Overall, we anticipate that our involvement in the summit will be instrumental in driving our [mutual] growth and success in the Asia-Pacific region.”

Also read: Introducing BAE: The world’s first AI travel companion by BuzzAR

Digital Hub intends to build connections with potential partners, investors and other stakeholders and aims to showcase to a diverse audience of industry experts. They are also considering exploring opportunities to expand business or projects into new markets within Asia or globally.

Make sure to check out Irawan and his team at Echelon X! Conference attendees also stand a chance to win Digital Hub merchandise upon registration at the Digital Hub booth. 

Sinar Mas Land 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 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.

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

The post Sinar Mas Land: How Indonesia’s trendiest Digital Hub is pushing for innovation appeared first on e27.

Martech, short for Marketing Technology, encompasses various tools and software designed to streamline marketing processes, enhance efficiency, and drive better results. From customer relationship management systems to analytics platforms and social media management tools, martech provides marketers with the necessary infrastructure to plan, execute, and measure their marketing campaigns effectively. By automating repetitive tasks, centralising data, and providing valuable insights into customer behaviour, martech empowers marketers to work more efficiently and make data-driven decisions.

One critical advantage of martech is its ability to provide valuable insights into customer behaviour and preferences. By analysing data from various sources, including website interactions, social media engagement, and email interactions, marketers can better understand their audience and tailor their marketing efforts accordingly. This enables marketers to deliver more personalised and targeted messages to their audience, driving higher levels of engagement and ultimately leading to better results.

Next month, at Echelon X, attendees will have the opportunity to dive deep into four major conference themes: Agile Business Practices, Sustainability & Responsibility, Collaborative Ecosystems, and Fostering Creativity. As one of the critical elements that help companies move forward with their businesses, martech will be one of the points examined at the event.

To prepare ourselves for the event, in this listicle, we familiarise ourselves with the nine martech companies that have led the march into the future of marketing.

Braze

Braze (£BRZE) emerges as a pioneering force in customer engagement, fostering enduring connections between consumers and the brands they hold dear. With Braze, marketers gain unprecedented access to harness and utilise data from any source, empowering them to engage with customers creatively and in real-time, seamlessly across multiple channels from a singular platform. Braze offers a spectrum of capabilities ranging from cross-channel messaging and journey orchestration to AI-powered experimentation and optimisation. It equips companies with the tools necessary to cultivate and sustain deeply engaging relationships with their customer base, thereby nurturing growth and loyalty.

Also Read: These 5 marketing analytics platforms are taking the field into the future

Braze stands as a beacon of excellence in the industry, garnering accolades such as the 2024 US News Best Technology Companies to Work For and the 2023 UK Best Workplace for Women by Great Place to Work. Recognised as a Leader by Gartner® in the 2023 Magic Quadrant for Multichannel Marketing Hubs and in The Forrester Wave: Cross-Channel Marketing Hubs, Q1 2023, Braze continues to set the standard for innovation and effectiveness. Headquartered in New York with a global footprint spanning North America, Europe, and APAC, Braze is poised at the forefront of shaping the future of customer engagement.

CleverTap

CleverTap, the quintessential engagement platform, stands as the cornerstone for brands seeking to unlock boundless customer lifetime value by crafting bespoke experiences tailored to retain their most prized clientele. Empowering businesses to curate individualised journeys that traverse the entire customer lifecycle, CleverTap offers a comprehensive suite of analytics that scrutinises every facet of this journey, facilitating real-time measurement and optimisation. Its distinctive AI prowess is perceptive and prescriptive, guiding businesses towards astute and expeditious decisions.

By amalgamating experiences from myriad touchpoints, CleverTap heralds a new epoch in customer engagement. Anchored by TesseractDB, the world’s premier database customised for customer engagement, CleverTap ensures both velocity and scalability. With the trust of over 2000 esteemed clients, including Electronic Arts, TiltingPoint, and TED, CleverTap has secured backing from renowned investors like Peak XV Partners and Tiger Global. Headquartered in Mountain View, California, CleverTap’s global footprint spans key cities, including San Francisco, New York, London, and Singapore, positioning it as an indispensable partner in pursuing customer-centric excellence.

Insider

Insider stands at the forefront of revolutionising customer experiences, a unified platform tailored for individualised, cross-channel engagement. Empowering enterprise marketers to integrate customer data across diverse channels and systems seamlessly, Insider harnesses the predictive power of AI to anticipate future behaviours and personalise interactions.

Through Insider’s versatile platform, marketers orchestrate experiences spanning the web, apps, web push, email, SMS, and messaging apps such as WhatsApp and Facebook Messenger. Recently attaining unicorn status, Insider garnered acclaim from NASDAQ for its distinction as one of the select woman-founded, women-led B2B SaaS unicorns globally. Recognized as the top leader in The Forrester Wave for Cross-Channel Campaign Management 2021 and the Gartner Magic Quadrant for Personalization Engines 2021, Insider maintains its stellar reputation, securing the #1 Leader spot on G2’s Mobile Marketing Software and Personalization Grids for 20 consecutive quarters. CrunchBase lauded Insider’s co-founder and CEO, Hande Cilingir, as one of the foremost women CEOs outside the US.

Trusted by an elite cadre of Fortune 500 companies and top brands in retail, automotive, and travel sectors, Insider boasts a client roster that includes Singapore Airlines, Virgin, Toyota, New Balance, IKEA, and many more. With over 1,200 global businesses placing their trust in Insider’s AI-driven personalised experiences, the company continues redefining customer engagement and satisfaction standards across industries.

Also Read: How Shopee uses AI, data to build a marketing strategy that suits changes in user behaviour

MoEngage

Positioned as an indispensable ally for customer-centric marketers and product owners, MoEngage emerges as a beacon of insights-driven customer engagement. Focusing relentlessly on customer satisfaction and retention, MoEngage empowers businesses to analyse customer behaviour meticulously and craft personalized communication strategies spanning web, mobile, and email platforms. Its comprehensive features encompass robust customer analytics, AI-driven journey orchestration, and unparalleled personalization capabilities seamlessly integrated into a single, intuitive dashboard.

Boasting a diverse clientele that includes Fortune 500 giants like Deutsche Telekom, Samsung, and Ally and agile mobile-first brands such as Flipkart, OLA, and Bigbasket, MoEngage has consistently elevated customer engagement across industries. Whether nurturing new leads through onboarding processes or long-term relationships for sustained growth, MoEngage equips product managers and growth marketers with the tools they need to curate unforgettable customer experiences at every stage of the lifecycle.

AppsFlyer

AppsFlyer is at the forefront of empowering brands to make informed decisions for both their business and their customers. Armed with a suite of advanced technologies encompassing measurement, data analytics, deep linking, engagement, fraud protection, data clean room, and privacy-preserving capabilities, it is rooted in the belief that brands can enhance customer privacy without compromising on exceptional experiences. Rooted in believing that brands can enhance customer privacy without compromising on extraordinary experiences, AppsFlyer catalyses thousands of creators and over 10,000 technology partners.

By facilitating better understanding and fostering more meaningful relationships with customers, AppsFlyer drives innovation and progress in digital engagement, paving the way for a future where privacy and personalized experiences coexist harmoniously.

Moloco

Dedicated to democratising growth through operational machine learning, Moloco emerges as a transformative force for businesses of every size. With its pioneering machine learning platform tailored for growth and performance, Moloco empowers app publishers, e-commerce platforms, and streaming services to harness the power of their unique first-party data. Through Moloco Ads, performance marketers gain access to advanced machine learning models, facilitating scalable user acquisition for mobile apps. Meanwhile, Moloco Commerce Media equips retailers and marketplaces with a versatile solution for building their own ads business, offering relevance, results, and automation for efficient ad operations at scale.

Also Read: Unlocking email marketing success: 5 foolproof tips every startup must embrace

Not to be outdone, Moloco Streaming Monetization aims to revolutionise the revenue strategies of streaming media companies, introducing outcomes-based advertising that prioritises user relevancy and advertiser success. Founded in 2013 by a team of machine learning engineers, Moloco has established a global presence with offices spanning the US, the UK, Germany, Korea, China, India, Japan, and Singapore, solidifying its position as a leader in the field of operational machine learning.

ON24

Embarking on a transformative journey into the AI era, ON24 stands as a beacon of innovation, dedicated to revolutionizing businesses’ go-to-market strategies and fostering cost-effective revenue growth. With its cutting-edge intelligent engagement platform, ON24 empowers customers to merge unparalleled experiences with personalized content, unlocking the ability to capture and leverage connected insights on a vast scale.

As a trusted partner to industry-leading giants across various sectors, including technology, asset management, healthcare, and industrial domains, ON24 delivers a goldmine of first-party data to fuel sales and marketing innovation, streamline operations, and enhance business outcomes. From its headquarters in San Francisco to its global presence spanning North America, EMEA, and APAC, ON24’s commitment to driving transformative change resonates across continents, shaping the future of business in the digital age.

Splitmetrics

Within the dynamic realm of mobile app growth, SplitMetrics emerges as a comprehensive ecosystem of products and services united under the esteemed banner of the SplitMetrics brand. Within this innovative landscape, SplitMetrics Acquire, formerly SearchAdsHQ, and SplitMetrics Optimize reign supreme, boasting accolades such as the ASO Tool of the Year 2022.

Alongside these offerings, SplitMetrics Agency is a testament to the brand’s commitment to excellence. With an unwavering dedication to simplifying the path to business success for mobile-first enterprises worldwide, SplitMetrics embodies a spirit of empowerment and innovation. As an Apple Search Ads Partner, supported by a passionate team of over 120 mobile app growth experts, SplitMetrics thrives on the success of its customers. This relentless pursuit of customer satisfaction attracts top-tier app and game publishers from around the globe to join hands with SplitMetrics on their journey towards growth and prosperity.

Also Read: Unlocking email marketing success: 5 foolproof tips every startup must embrace

Amplitude

In the bustling digital innovation landscape, Amplitude offers a powerful analytics platform that illuminates the intricate pathways of the customer journey. With its self-service capabilities, Amplitude empowers enterprises to navigate this terrain easily, gaining invaluable visibility into the dynamics of their digital products.

Serving as the backbone for over 45,000 digital ventures across a diverse spectrum of industries, including 23 of the esteemed Fortune 100, Amplitude catalyses innovation and strategic decision-making. Amplitude paves the way for enterprises to evolve, adapt, and thrive in the dynamic digital landscape by providing answers to the pivotal question of how digital products influence business outcomes.

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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 two 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.

Image Credit: 123RF

The post These 5 companies showcase the power of martech in driving efficient, personalised marketing strategies appeared first on e27.

Singapore, 26 April 2024 – ADA, a leader in digital and data-driven business transformation across Asia, today launched a visionary suite of AI CoPilots engineered to redefine enterprise marketing and commerce functions, driving efficiency and effectiveness, fostering a new era of strategic and operational agility through data and AI democratisation.

Seamlessly integrated with ADA’s suite of digital services, AI CoPilots tap into diverse datasets and proprietary AI models. Each CoPilot unites disparate information streams, dismantling the silos between different platforms and business units. By doing so, it provides transformative insights with real-time predictive analytics and delivers strategic guidance customised for the unique dynamics of each enterprise.

ADA’s inaugural lineup of AI CoPilots encompasses four strategically devised tools, each tailored to optimise distinct facets of digital enterprise:

• CoPilot for Full Funnel Marketing: Rapidly synthesises diverse datasets, offering businesses actionable insights to identify high-value users and refine campaigns across the funnel, enabling data-driven decisions as quickly as tomorrow.
• CoPilot for e-commerce: Offers advanced predictive capabilities for e-commerce platforms to anticipate market trends and consumer behaviour, powering a competitive advantage for clients.
• CoPilot for Conversational AI: Empowers chatbots with the ability to engage in deep, meaningful dialogues and provide human-like responses, swiftly resolving queries with a clear focus on outcomes.
• CoPilot for Customer Segmentation: Enables clients to rapidly access and leverage ADA’s XACT data segments, transforming their marketing with compliant, actionable insights from over 300 million profiles.

Also read: Sinar Mas Land: How Indonesia’s trendiest Digital Hub is pushing for innovation

“Our new AI CoPilots will set a benchmark in the industry by enabling enterprises to execute unprecedented marketing and commerce strategies,” said Srinivas Gattamneni, CEO at ADA. “This initiative is not just an investment in technology, it’s an investment in our customers’ future, providing them with the tools they need to thrive in a competitive market. This move not only amplifies the reach of ADA’s advanced machine learning models and AI technologies but also reinforces the company’s dedication to fostering a synergistic ecosystem where our client’s strategies are seamlessly executed from insight to action.”

ADA’s commitment to innovation and its expansive presence in 12 countries underscore its role as a transformative force in the industry. As ADA continues to expand its capabilities and reach, it remains dedicated to delivering cutting-edge solutions that drive business success.

About ADA

ADA leverages data, artificial intelligence, and technology to transform businesses across Asia. With a robust presence in 12 countries, ADA combines the best of AI and analytics to provide comprehensive digital solutions that drive business performance.

The company has a multi-faceted, data-driven approach that encompasses:

• Data Transformation Services
• Marketing Solutions
• e-commerce Solutions
• Customer Engagement Solutions

The company’s dual headquarters are in Singapore and Malaysia. Notably, ADA’s shareholders include industry giants like Softbank, Axiata, Mitsui, and Sumitomo Corporation.

Also read: Wallex: Driving business growth with secure cross-payments

For more information about ADA and its new AI CoPilots, please visit www.ada-asia.com or contact the ADA team.

Contact:

Klara Grintal, Head of Brand and Customer Experience

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This article is produced by the e27 team, sponsored by ADA

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post ADA unveils AI CoPilots to revolutionise marketing and commerce for global enterprises appeared first on e27.

tozero, a lithium-ion recycling startup based in Germany, has emerged as the champion of the EPiC (Elevator Pitch Competition) organised by the Hong Kong Science and Technology Parks Corporation (HKSTP).

The Munich-headquartered startup will receive 1.1 million Asia Miles (a loyalty and frequent-flyer programme run by airline operator Cathay Pacific) and a cash prize of US$90,000, in addition to investor exposure and partnership opportunities.

Co-founded by Sarah Fleischer and Dr Ksenija Milicevic Neumann, tozero aims to establish Europe’s leading lithium-ion battery recycling plant, focused on recovering critical materials such as lithium, nickel, cobalt, and graphite in a sustainable way. By reintroducing these materials into the supply chain, tozero aims to support the creation of new batteries while promoting a circular economy.

The EPiC winner was selected from the 12 finalists across three categories — fintech, proptech and mobility — who demonstrated their solutions before a judging panel comprising renowned investors, entrepreneurs, and executives in Asia on Friday. The 12 finalists will be awarded a cash prize of US$10,000 each.

EPiC 2024 attracted a total of 603 contestants from 47 economies, of which 71 were selected for the elevator pitch. They stand to receive US$45 million in investment, including up to US$5 million from the HKSTP Corporate Venture Fund (CVF) and US$240,000 in cash prizes, plus partnership opportunities. As many as 71 startups participated in the EPiC pitching contest.

Also Read: Meet the 10 Southeast Asian finalists demonstrating at EPiC 2024 in Hong Kong

tozero is also the winner in the mobility category. The other two category winners are Bizbaz (fintech) and Roboticplus.AI (proptech).

Below are the snapshots of the finalists:

Bizbaz (Singapore)

BizBaz is a technology company specialising in advanced AI, data analytics, and behavioural science solutions. It claims to have successfully transformed industries by leveraging cutting-edge technology to unlock valuable insights and intelligence.

imBee (Hong Kong)

imBee aims to revolutionise the way businesses handle internal data and enhance productivity through an AI-powered search and knowledge discovery platform. Its innovation’s centrepiece is Aiskbee, which utilises advanced neuro-symbolic reasoning with deep learning-based state-of-the-art Large Language Models (LLMs). This technology enables its AI Assistant to comprehend queries in natural language, making search more intuitive and efficient.

Rey (Indonesia)

Rey is an integrated health insurtech firm that provides end-to-end health care in one subscription. Its platform combines health coverage with healthcare delivery — from preventive, curative, to rehabilitative– into a seamless experience. Launched in Indonesia in July 2022, it has acquired 10K+ paying members and generates US$1 million of ARR.

Tanbii (US)

Tanbii integrates ESG, fintech, and gaming to change how climate change is combated by gamifying carbon reduction efforts. It bridges the gap between the Web2 and Web3 worlds to foster a sustainable lifestyle. By utilising advanced technologies like blockchain and AI, Tanbii accurately tracks, calculates, and rewards users for reducing their personal carbon emissions from sustainable purchases, green travelling, and other low-carbon activities.

Certivity (Germany)

Certivity is a regtech SaaS platform that digitises regulations to create ‘law as data’, analyses it with AI and connects to engineering processes. It enables customers to digitise and streamline their compliance processes, reduce costs, collaborate and accelerate time-to-market for their products

Wheel.me (Norway)

Wheel.me is a robotics and IoT company that has invented an autonomous wheel. Called Genius, the wheel turns almost any object into an autonomous robot. With a wide range of use cases, Genius can move just about anything, and revamp automated material handling in manufacturing, supply chains, logistics, warehouse operations and elsewhere.

Novac (Italy)

Novac is developing a solid-state shapeable supercapacitor that can be easily integrated into the structure of the vehicle, with no dangerous liquid inside, thanks to its portfolio of innovative materials for energy storage systems. The target markets are smart mobility, drones, electronics, automotive and aerospace, where there is not enough space for energy storage but a strong need for additional power.

Roboticplus.AI (China)

RoboticPlus.AI is an intelligent robotic system company. It creates a new generation of robotic solutions adaptable to flexible manufacturing through its self-developed industrial software platform, RoBIM. It is deeply involved in the core technologies of robotics, including control, algorithms, and human-machine interaction.

Green Independence (Italy)

Green Independence aims to accelerate independence from fossil fuels by providing on-site green energy and clean water, addressing inefficiencies in currently available tools to tackle three crucial challenges: water scarcity, dependence on fossil fuels, and the intermittency of renewable energies. This is achieved through the New Artificial Leaf (NAL), its multifunctional solar panel with two main modules: solar-water purification and electrochemical.

Also Read: Elevator Pitch Competition (EPiC) accelerates startups from SEA to the world

Hyele Limited (Hong Kong)

Hyele provides accurate and cutting-edge technology for smart urban water supply systems (UWSS) that improves all stages of UWPS management — from first design to superior operational performance and extended system life. Hyele’s pipeline condition assessment technology is pioneered by experts who leveraged advances in research and engineering science to provide unique and prime performances. It provides clients with a comprehensive condition assessment service, utilising its specialised software and state-of-the-art hardware.

Kodifly (Hong Kong)

Kodifly focuses on creating real-time digital twins using cutting-edge LiDAR technology, delivering actionable insights for infrastructure challenges like deformation, landslides, and vegetation encroachment through precise 3D point cloud processing. It automates several most tedious processes in the infrastructure maintenance chain: data collection, analytics, and decision-making, allowing teams to free up the time to focus on what’s more valuable. Its hardware scans and models infrastructure dynamically, being installed on a moving vehicle or a train, while its software analyzes the data, pinpointing defects and suggesting maintenance. The solutions prioritise the safety and longevity of essential transport infrastructure such as airports, railways, and highways, emphasising climate resilience.

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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 German Li-ion battery recycling startup tozero wins EPiC 2024 in Hong Kong appeared first on e27.