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Human-AI collaboration: The key to unlocking Gen AI’s potential

The impact of Generative AI is everywhere — just take a look around.

If you look past ChatGPT, you see products like Adobe Photoshop incorporating it into their tools. Want a lighthouse in your desert photograph? Generate it. Want to know what Harry Potter would look like in anime form? Generate it.

Your productivity note-taking app will summarise your notes for you, edit your writing tone, fix your grammar. Your mobile-phone will generate text-to-speech in the likeness of your own voice.

Beyond everyday consumer use, Generative Artificial Intelligence (Gen AI) is proving its potential to be enormously helpful. For pharmaceutical companies, Gen AI could design proteins for medicines, which will solve a massive challenge that has plagued geneticists and pharmaceutical developers for decades. In manufacturing, Gen AI can create machine parts and optimise design to minimise waste and increase speed and efficiency.

In fact, Gen AI could be the invisible hand that shapes what we interact with in the world around us —designing the buildings we work and sleep in, the parks we walk our dogs in, and the roads we commute upon.

Collaboration between humans and artificial intelligence (AI) is more impactful than it has ever been before. While the AI of the past was stagnant — you make a request, and whatever the AI outcome is, you take it or you leave it. With generative AI, there is back and forth to refine and redefine continually. This is collaboration in order to achieve specific results.

With Gen AI, be intentional with risk-taking

That is the key to Gen AI of the present – collaboration. It will take immense collaboration to mitigate the tidal wave of risks involved with generative AI. As we are discovering the capabilities of Gen AI in our everyday lives, we need to have data privacy, algorithmic bias, explainability, fairness, and accuracy on our radar.

Also Read: The Future of CRM: Transforming customer experience with Gen AI

It is almost certain that there are dangers we have yet to fathom. After all, we do not know what we do not know.

We will need true collaboration with fellow humans to ensure Gen AI will serve the good of society and be used as ethically as possible. As with any powerful, potentially dangerous tool, like cars and weapons, AI should be strictly regulated with frameworks to guide responsible development and deployment.

In March 2023, after calls by over 1,000 tech workers for a pause in the training of the most powerful AI systems, UNESCO called on all governments to fully implement its Recommendation on the Ethics of Artificial Intelligence immediately. The organisation argued that “industry self-regulation is clearly not sufficient to avoid ethical harms.”

The future of generative AI depends on how we behave today

A very real and conspicuous controversy shrouding Gen AI is how it is impacting jobs. Already, artists are using AI art generators, and writers and creators everywhere are disgruntled, anxious or apprehensive about Gen AI.

Stability AI’s Founder and CEO, Emad Mostaque, is convinced that AI will “create brand new industries”, which will “create loads of new jobs.” While that might be true, current jobs are already being displaced.

We need to be very careful. This phenomenon of technology displacing jobs is nothing new—people have argued that machines have been taking their jobs for decades now, but generative AI is growing at a furious pace, and the world is enamoured by it.

Currently, its main victim seems to be the creative industry, one of the few industries where everyone actually wants to do their job. It will be a bleak place if we replace the artists of the world with artificial intelligence.

Instead, we need to make sure AI pushes all of society forward. To replace mundane tasks to free up time for more meaningful work. To solve problems, we could not before. But it is not something that artificial intelligence can achieve on its own.

Also Read: Collaboration and a sense of urgency: What it takes to support climate tech startups in Southeast Asia

What it needs as guidelines is intentional, radical collaboration between humans. A shared understanding of what AI should be used for and how it should be used.

Education with collaboration

In order for this collaboration to happen, we will need mass education to prepare individuals for the future of work. Organisations like SGTech and SkillsFuture could collaborate and develop courses that introduce basic AI knowledge for people in all stages of life and their careers, and how they might use it for their benefit.

In order for Singapore to stay ahead of the curve, we need to learn fast. The Gen AI era is here to stay, and will only evolve and grow. To make sure our futures are bright, we will need collaboration that is regular, institutionalised, and designed with purpose.

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Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles

The race towards net-zero emissions is intensifying, and electric vehicles are at the forefront of this green revolution. Imagine a future where Southeast Asia’s bustling cities are powered by clean energy, with electric vehicles (EVs) zipping silently through the streets, reducing pollution and dependency on fossil fuels.

This vision is becoming a reality. As Southeast Asia gears up to embrace this change, investors have a unique chance to capitalise on a market poised for explosive growth and innovation.

Source: McKinsey Centre for Future Mobility

The Electric Vehicle ecosystem involves a diverse network of stakeholders, including original equipment manufacturers (OEMs), charging infrastructure providers, battery swapping services, fleet management companies, and other related services.

When investors express interest in the EV sector, it’s essential to understand precisely where they are directing their investments. Choosing the right focus area within this complex web is crucial for success in this rapidly evolving industry.

Globally, the demand for EVs has been rapidly increasing. Sales rose by about 30 per cent in 2023, and while this is slower than the impressive  54 per cent growth observed in 2022, the market continues to evolve with strong momentum. Projections indicate that EV adoption will reach 86 per cent by 2030, more than double the 40 per cent previously projected in April 2023.

Also Read: Infographic: A visualisation of Indonesia’s electric vehicle transition

Several driving forces contribute to this rapid ascent:

  • Government policies: Governments around the world are announcing a growing number of net-zero targets to meet the commitments of the Paris Agreement, which has trickled down to decarbonising the transportation sector.
  • Product variety and quality: There are now a variety of EV options with more designs, better quality, and longer range, especially from manufacturers in China, the US, and Europe.
  • Technological advances: Competition among global players has driven costs down. The cost of lithium-ion batteries, which make up about 40 per cent of EV production costs, has plummeted by 97 per cent since 1991 and is expected to continue to fall by an average of 11 per cent per year through 2030. Demand for batteries remains high, prompting a surge in battery manufacturing plants worldwide.

Few sectors today enjoy such strong macro tailwinds. Many global private and public investors have profited from the IPOs of Tesla, XPeng, Nio and BYD. Yet, we are still scratching the surface as global EV penetration is still relatively low, accounting for somewhere between 14 and 18 per cent of car sales in 2023.

The good news is that investors in Southeast Asia can still benefit from the growth of the EV sector. While the adoption in Southeast Asia is still in its infancy and lower than the global standards, there exists a delicate balance of investment opportunities and challenges.

Some of these opportunities include:

Source: Redseer – SEA Electric Vehicles – Charging Up Part 2

On the flip side, there are also mounting challenges facing the region:

  • Market fragmentation: The fragmentation of the markets meant that we were unlikely to enjoy the economies of scale to rival that of China and the US.
  • Manufacturing expertise: The region faces a disadvantage compared to global competitors due to a lack of expertise in EV manufacturing and supply chain management.
  • Charging infrastructure: A severe lack of charging infrastructure is unable to assuage range anxiety for long distance driving, hampering EV adoption.

Source: Attribution 4.0 International and Shutterstock

To navigate these opportunities and challenges, let us deconstruct the EV ecosystem into three key areas:

  • Original Equipment Manufacturers (OEMs)
  • Infrastructure
  • Services and enablers

Original Equipment Manufacturers (OEMs)

EV OEMs are companies responsible for designing, producing, and assembling essential components of EVs. These components include batteries, electric drivetrains, chassis, charging systems, and other parts crucial for functionality and performance. They can be broken down further in 4W and 2W of which the latter has seen very strong interest from regional investors.

Also Read: The growth of electric vehicles is saving the planet, one trip at a time

Some notable examples of 2W in the region include DatBike, Edde Rides, Charged Asia, Electrum, Volta, & Alva. While various business models exist, OEM operations are generally capital-intensive – manufacturing EVs and managing the supply chain require substantial investment. Unlike Internal Combustion Engine Vehicles (ICEs), EVs have fewer moving parts. Consequently, the sector has lower barriers to entry, leading to a proliferation of 2W EV brands in Southeast Asia.

Winning and dominating the market are likely to be determined by several factors, including a differentiated brand and design that resonates with Southeast Asian aspirational consumers, the broadest coverage of distribution and accessibility, superior product performance and driving and riding experience, and the most efficient manufacturing and supply management.

Infrastructure

EV infrastructure encompasses essential structures, machinery, and equipment to support EV adoption. This includes charging stations, battery swapping facilities, and end-of-life battery recycling. Investment in this sector tends to be capital investment-intensive, especially in battery leasing and swapping services where working capital plays a significant role.

While the technology is reaching maturity, digital tools, software, and data would enhance operational efficiency. Success hinges on securing financing from deep-pocketed funds (such as infrastructure funds or bank debt) and executing its business plan flawlessly.

For instance, in the competitive landscape of charging infrastructure and battery swapping, players like Eboost and Tiger New Energy must secure prime real estate locations, establish strong partnerships with utility providers and local governments, invest in skilled manpower for operations, maintenance and security, and potentially explore franchising models to scale. In battery recycling, securing proprietary feedstock channels at competitive prices will become a critical differentiator.

Services and enablers

EV services and enablers, a lighter facet of the EV ecosystem, encompass a wide range of offerings and support systems aimed at facilitating the adoption, maintenance, and efficient use of electric vehicles. These services span various areas, including logistics (leveraging EV fleets), vehicle servicing, battery intelligence systems, fleet management (both software and know-how), and financing/leasing.

A critical differentiator for EVs, compared to ICEs, lies in their data-integrated telematics capabilities. EVs generate substantial driving, performance, and telematic data during operations, which presents exciting opportunities.

For instance, battery performance data could revolutionise EV underwriting, creating a secondary market for the industry. Insurance premiums could be tailored based on drivers’ behaviour, and resale values could vary depending on vehicle ownership. Logistics companies like APX, Mober, Dash, and Blitz can track driver/rider behaviour and performance, incentivising better delivery outcomes.

Observations from our 10 months of analysing the Southeast Asian EV market reveal compelling investment opportunities. Many venture capitalists and infrastructure investors in the US, Europe, and China have already reaped rewards. Favorable macroeconomic and regulatory conditions, increased EV choices, cost parity with internal combustion engines (ICEs), improved charging infrastructure, and growing consumer awareness drive this trend.

However, challenges persist: Southeast Asia lags in manufacturing know-how, talent availability, and fragmented markets. Investors must also choose their focus, given the wide variety of ecosystems that present different risk/reward scenarios.

From a climate perspective, we also have to bear in mind that the only way to get to zero-emission driving is to decarbonise the grid, even with breakthrough EV penetration, Southeast Asia’s grids still rely on coal, fossil gas, and other polluting fuels, a significant issue that must be addressed.

The Radical Fund is seeking business models that are capital-light while delivering a twin strategy of scaled commercial and climate impact. Please reach out to us for feedback or comments to share regarding the EV industry in Southeast Asia.

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Relationships and networks are the lifeblood of commerce in Asia

Some years ago, a close university friend was urgently seeking a management role in finance. She requested that I introduce her to my contact, Mr. E, a long-tenured executive at a prominent local bank where he held a high-level position. As a family friend of many years, I was happy to facilitate the introduction as I knew my acquaintance possessed strong qualifications. However, I failed to confirm whether she sincerely desired the job.

Given my deep relationship, Mr. E took the time to personally interview her and offered her a role with excellent growth potential. To my dismay, she resigned only two days later. It became clear she had merely been awaiting another offer and departed without regard for the impact on myself or the bank.

I sincerely and deeply apologise to Mr. E for wasting his valuable time and for not realising my associate might treat the introduction casually. He graciously accepted my apology and underscored the importance of reputation in business circles.

“Relationships and networks are the lifeblood of commerce in Asia. Use them prudently,” was the essence of his counsel. It was a lesson I have carried with me. To this day, out of continuing embarrassment, I have not requested any further introductions from Mr. E, wary other referrals could similarly sour.

The importance of reputation and relationships in Asia

The power of relationships, often referred to as “guan xi” in Mandarin, has been well documented across Asia. In many Asian cultures, relationships are even more integral to business dealings and success.

When asking someone for a significant business favour, especially one that could impact their reputation or career, the requestor will carefully consider the risk involved, the strength of the relationship, and any potential benefits.

Also Read: Optimising workplace engagement in the digital era of productivity

For example, one startup founder was denied banking services after an assessment. Frustrated, he pointed to other similar startups that received facilities.

“Do I need to be your childhood friend to get the same treatment?” The unfortunate answer is often yes, to an extent. I knew the bank’s CEO and inquired about the differing decisions.

He explained that granting facilities to this startup carried too much risk since they lacked familiarity. However, he said, “If you’re willing to endorse them, I’ll approve it, but your reputation will be attached.”

While unstated, we both understood endorsing them could impact future assessments of my own credibility should I someday seek similar services. Not wanting to endanger my reputation, I declined to recommend the startup out of caution for what might occur if things went wrong.

Building connections

For an entrepreneur, building connections and working with various stakeholders throughout the value chain are essential. Connecting with associates or senior leadership at large multinational corporations can provide access to strategic resources. Entrepreneurs may also collaborate across borders and industries to deliver more robust solutions to major clients. Ultimately, cultivating useful, trusted relationships is important for business growth.

However, establishing such connections can be challenging, especially for newer entrepreneurs lacking an established network. Traditional outreach methods like cold calling or LinkedIn may yield inconsistent results. A preferable approach leverages one’s own contacts, such as close colleagues or mentors, to facilitate warm introductions to targeted individuals. Trusted intermediaries can help validate credibility and increase the likelihood of a successful initial interaction.

Overall, strategically developing professional relationships through referrals from within one’s own network may represent the most effective pathway to expand opportunities and resources over time. Ongoing relationship building remains a core competency for entrepreneurial success.

A cost to reputational capital

Before asking others to introduce you, remember that introductions require reputational capital from the introducer. For example, when introducing a startup founder to senior associates via email, my own reputation is at stake. Associates will respond based on their familiarity with and trust in me, believing that due diligence has been performed regarding the introduction. Simultaneously, introductions create an obligation — the introducer expects a favour to be returned if called upon.

For this reason, I am sometimes forthright when asked for introductions, only agreeing if trust is established in the person, and I am willing and able to reciprocate future favours to associates.

Respecting introductions

Having facilitated many introductions between startup founders and contacts, I have experienced both positive and negative outcomes. There are important factors to consider both when requesting and receiving introductions from others.

Also Read: The 3 questions that will help maximise every entrepreneur’s productivity

Do:

  • Thank the contact for their time and consideration. Respond promptly, within 24 hours of the introduction if possible, to respectfully acknowledge their outreach and express your appreciation for the opportunity to connect.
  • Be clear and specific regarding your objectives for the initial discussion while remaining open-minded to the contact’s perspectives and priorities. Rather than an open-ended meeting, outline how you hope your discussion might help address mutual interests or needs.
  • Arriving early for any in-person meetings is a sign of your professionalism. Punctuality shows respect for the contact’s time and consideration.
  • Acknowledge the relationship between yourself and your introducer to provide helpful context. For example, note if they previously mentored or collaborated with you.
  • Throughout any discussions, maintain the highest levels of courtesy, respect and integrity. Remember, the introducer has entrusted you with representing them positively. Where applicable, consider modest incentives that might benefit both the contact and your introducer, recognizing their established relationship.

Expressing gratitude with sincerity

As a mentor, one disappointment I sometimes face is losing contact with founders after making introductions on their behalf. Even if follow-up occurs, the communication sometimes lacks sincerity and only aims to request more introductions without cultivating the relationship. It is unsatisfying to feel used solely as a resource without acknowledgement as a person.

When providing introductions, mentors like myself do so in a spirit of goodwill, hoping to help others progress in a reciprocal manner. Introductions are made with the trust that recipients will respect the connection and express proper gratitude.

Fortunately, some founders demonstrate appreciation admirably. Some promptly updated me on the progress of the introduction and reiterated their thanks. They offered to return the favour by helping those I referred to them.

Others express gratitude more personally through thoughtful gestures such as thank you notes or buying coffee. As a result, bonds of trust have formed, and new professional networks have been established.

In Asia, relationships are built on trust and reputation. Therefore, as a founder expands, introductions and connections should be treasured. The way one handles these interactions reflects one’s reputation, which can make or break important deals. Expressing sincere gratitude is key to cultivating strong, lasting professional relationships.

This article first appeared on TRIVE’s internal knowledge sharing.

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What living with the Big C has taught me about Web3 (Part 2)

To this day, I don’t know how I managed to keep working despite the frequent daily trips to the bathroom and the abdominal pain since November 2022. However, back then, standard anti-diarrhoea medication still had an effect.

I even flew to the Philippines in November to moderate a blockchain gaming panel at the Philippine Web3 Festival. Then, in December, I went to Bangkok to help organise, host and cover the first Polygon Guild Bangkok Meetup.

Honestly, I didn’t even mind or show anyone any signs of the pain I was feeling. It would be different, of course, when I got back to my hotel.

But I’m a long-time believer in the power of technology for good and have fully embraced Web3 as the future. I was too excited to attend my first on-ground events since the pandemic and meet up with all the wonderful people in Web3 – many of them for the first time in real life – to let pain stop me. 

I think that’s what helps us keep going even when times are really tough. Faith in something bigger than we are. The desire to help others instead of just focusing on our own problems. The sense of responsibility I feel, as someone privileged to belong to the digital haves, to help the digital have-nots and bridge the digital gap.

Crypto Winter taught us to become resilient. It weeded out those who truly saw Web3 as a revolutionary force and focused on creating long-term value from those who were only motivated by greed and wanted cash grabs.

Now that Crypto Winter is thankfully over, the Web3 individuals and organisations that have kept the faith emerged stronger in 2024.

Others ran away. They kept building.

Learn to let go and don’t be afraid to ask for help

Still, resilience doesn’t mean ignoring our limitations. As with cancer, you can’t be a control freak in Web3. You need to be fully aware of your strengths and weaknesses. You can’t be a lone wolf, but you should be willing to collaborate with others and accept help when needed.

It’s been a bitter pill for me to swallow, but I can’t do a lot of things for myself anymore. Physically, I have lost almost 30 kg, the lightest I have ever been since college or during my early days as an employee. Sure, when I was obese, I wanted to one day reach my ideal weight, but cancer definitely wasn’t what I had in mind.

Also Read: What living with the Big C has taught me about Web3 (Part 1)

For someone who enjoys taking long walks and travelling inside and outside the country, I’m now mostly confined to our house. I’m immunocompromised, so I have to wear a mask again outside, avoid crowds, and visit malls only during weekdays and near opening hours, if at all.

Mostly, I just leave the house to go to the hospital, enjoy the condo facilities, and sometimes accompany my wife to the grocery store since a small community mall is directly connected to our building. Even then, I have to watch out because I randomly get tired and dizzy, particularly a week or so after a chemo cycle. 

I now need to use a cane when I’m inside the house and a wheelchair when I go out. It took my wife a long time to convince me because it made me feel so helpless. But I learned to accept that it was for my own good because it would be worse if I suddenly collapsed while walking outside.

In March, I was confined twice for a total of two weeks. First, due to an infection that caused me to be admitted during the first two days of critical care because my blood pressure plunged to 60/40, I was suffering from a fever, and the doctor wanted to guard against sepsis.

Then the most recent one because my blood count kept dropping even after the infection was cured. A new blood culture revealed that my bone marrow was dysplastic, meaning new blood cells were dying before they could reach maturity and be released into my bloodstream. Thankfully, no presence of lymphoma has been detected in my bone marrow. Instead, it seems my immune system is attacking my bone marrow, so my doctor started me on a new regimen to treat this.

Also, no matter how much food I try to eat, my body is not absorbing nutrients properly. So during my confinement and for the first two weeks after I was discharged, I received parenteral nutrition, receiving nutrients intravenously.

My chemo infusions increasingly became more aggressive as the treatment was tweaked based on my response and progress. The first three cycles were already more aggressive than the usual CHOP chemo treatment. Instead, we opted for CHOEP, which stands for cyclophosphamide, doxorubicin (hydroxydaunorubicin), vincristine (for its brand name Oncovin), etoposide, and prednisone/prednisolone. This required a two-day infusion because of the additional drug etoposide. 

After the third cycle, my doctor ordered another scope and biopsy. He then recommended switching to an even more aggressive chemotreatment because we hadn’t made as much progress as we initially expected. So, the next three chemo cycles, which were supposed to be the last three, made use of dose-adjusted EPOCH. The same combination of drugs, but now infused for five days for 24 hours.

Dose-adjusted EPOCH truly was aggressive. During and after every cycle, my immune system would suffer greatly. My blood counts would drop drastically, even though since the start of the first chemo cycle, I was being injected with a booster that would stimulate the production of white blood cells. Even so, sometimes, I needed to be confined because of a fever caused by an infection, despite taking every precaution.

Prepare a game plan but don’t get too attached to it

The original plan was for me to undergo six chemo cycles, followed by an autologous stem cell transplant after MEITL was wiped out. My healthy stem cells would be harvested after my bone marrow healed. Then stored and reinserted into my body to replace the stem cells that were destroyed by chemo. Again, this medical procedure (which is rather expensive, by the way, because it’s not exactly a routine operation) doesn’t guarantee survival. But it does give me better odds.

As the popular adage usually attributed to Prussian General Carl von Clausewitz reminds us, but, according to Quote Investigator, it was actually first written in an 1871 essay by Prussian Field Marshal Helmuth von Moltke the Elder in this form: “No plan of operations extends with any certainty beyond the first encounter with the main enemy forces.” 

Or, better yet, as Mike Tyson eloquently put it, “Everybody has plans until they get hit for the first time.”

Also Read: To leverage Web3 technologies, Web2 companies may start by building the right culture

MEITL was still around after the sixth chemo cycle, as the biopsy and PET (positron emission tomography) scan showed. So, the original plan was off the table. My doctor asked if I wanted to take a calculated risk. We could do two additional chemo cycles but use a different drug that would be more targeted. He said it would be pointless to keep trying the same combination of drugs that have already failed. 

He proposed the chemo drug cladribine. It’s not an experimental drug, but it would take some time to be processed for delivery because it’s not a common drug stocked in the hospital. Plus, this would be an off-label use since normally it’s used to treat hairy cell leukaemia and B cell chronic lymphocytic leukaemia. Still, the pros were that normally, it would have less of an impact on the immune system than my previous chemo drugs and could be infused for seven days for 24 hours. Bonus: it doesn’t cause any hair loss. So, after my wife and I discussed the pros and cons, I decided to go for it. After all, my sixth chemo cycle had already ended on November 15th, and MEITL is an aggressive lymphoma.

Since it would take time to get the permits and have the drug delivered, I was able to spend a holiday at home with my family for the first time in 2023. For some reason, my chemo cycles and emergency confinements always coincided with a holiday. The doctor said I could rest in December after I told him that my daughter and I have birthdays that are close to Christmas. He estimated that the new drug would arrive in time for a seventh cycle that would see me spending New Year’s Eve in the hospital. I was more than fine with that.

That was my December miracle. My wife and I were so optimistic. MEITL was still there beneath the surface, but the many tiny ulcers on my colon that were the outward manifestation had been wiped out. The PET scan showed that only a small area was lighting up, so surgery might now be an option after the eighth cycle if MEITL remained localised. I felt stronger than I had ever been since the start of chemotreatment. I was even able to go to the mall occasionally and didn’t even need a cane or wheelchair.

Originally, my wife and I had been convinced that six chemo cycles would be enough to get rid of MEITL. We truly believed that. Now we were sure that the two extra cycles would finish the job.

But as in Web3 and in most things in life, things don’t always go according to plan. Even if you did all the right things, checked all the required boxes, followed all the best practices. My body didn’t react as expected. The arrival of the drug had been unexpectedly delayed, but I finally began my seventh chemo cycle on Jan. 15th. This seventh chemo cycle was fine. While I felt more weak and tired than I was after my first six cycles, my immune system and blood count numbers were more stable.

But the eighth and last cycle really threw me for a loop. Even before the seventh day on Feb. 21st, my blood test was showing that my numbers were plummeting. I had to receive blood transfusions for the first time in my life.

Post-cladribine me is shockingly different inside and out. The normal range for white blood cell count ranges between 4,000 and 11,000 cells per microliter. When it falls below 1,500, this is considered neutropenia, which can range from mild (1,000-1,500), moderate (500-1,000), to severe (less than 500). Mine dropped to 40-50 during confinement and the succeeding thrice-a-week doctor appointments to take blood tests, boosters, and blood transfusions. 

It has already been two months of constant treatment post-chemo, but as of this writing my white blood cell count is just 1,600. Worse, my latest biopsy confirmed what my wife and I already knew in our hearts. My MEITL was still around. Not only that, but also three large ulcers have taken the place of the tiny ones that were wiped out, and now surgery is no longer a viable option.

My haematologist has also candidly told me that my body can no longer tolerate any additional chemo infusions.

For now, the focus is on addressing the immune system attack on my bone marrow and managing my symptoms to improve my quality of life. I’ve actually had a healthier appetite and eaten a lot more in the past two weeks, which is why they took me off the twice-a-week visits to the daycare for my parenteral nutrition. Instead, every Saturday is now daycare day for my regular blood test and, if necessary, a blood transfusion.

Honestly, the only viable medical treatment left is oral chemodrugs. Of course, taking them would carry its own risks. At any rate, even if we do consider it, it’s off the table until my bone marrow heals further and my blood cell counts improve a lot more.

My doctor, wife and I perfectly understand that this won’t be anytime soon.

The last resort would be clinical trials for new drugs. I haven’t checked it out yet, but in the US, a Phase 1 human trial for a new drug is looking for test subjects for different types of cancer, including MEITL.

Of course, we know what clinical trials entail. Assuming I qualify, I’m agreeing to be a guinea pig who could die even sooner than I might have. 

Part two of a three-part series, continuation to follow next week.

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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Ecosystem Roundup: Musk to consider offer to build EV battery plant in Indonesia | Alibaba injects US$230M into Lazada | Vertex Ventures launches US$64M Japan fund

Elon Musk

Dear reader,

Elon Musk’s recent meeting with Indonesian President Joko Widodo marks a significant step towards potentially expanding Tesla’s footprint in Southeast Asia.

Indonesia’s offer to host an electric vehicle battery plant, utilising the nation’s abundant nickel resources, aligns perfectly with Musk’s vision for sustainable energy solutions. The discussions, held after the World Water Forum in Bali, also included proposals for SpaceX to build a launchpad on Biak Island and an AI centre, highlighting Indonesia’s ambition to become a hub for advanced technology.

While Musk has yet to comment, the move underscores Indonesia’s strategic push to attract major tech investments and develop its EV sector. By leveraging its rich mineral resources and strategic location, Indonesia aims to position itself as a key player in the global electric vehicle market.

If Tesla accepts the offer, it could catalyse significant economic growth and technological advancement in the region. This potential partnership reflects broader trends of integrating advanced technologies into emerging markets.

Sainul,
Editor.

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NEWS

Indonesia minister says Musk to consider offer to build EV battery plant in country
Indonesia’s government has been trying for years to lure Tesla to build manufacturing plants related to electric vehicles as the government wants to develop its EV sector using the country’s rich nickel resources.

Vertex Ventures launches US$64M fund for Japan investments
Vertex Ventures Japan focuses on deeptech, digital transformation, AI, and the creator economy; The new fund’s launch follows Vertex Ventures Southeast Asia and India raising US$541 million for its fifth fund in September 2023.

Snowflake is in talks to buy Reka AI for US$1B
Reka AI develops large language models that can be used in areas like online customer support and caption generation; The company was founded by ex-employees of Google and Meta– Yi Tay and Dani Yogatama.

Alibaba adds US$230M into Lazada’s coffers
With this, the Chinese tech giant has poured a total of roughly US$7.7B into Lazada since 2016, when it invested US$1B into the Shopee rival to take a controlling stake.

Kasagi Labo secures US$12M to bring Japanese anime to global audience
The investors include Burda Principal, CMT Digital, SuperScrypt, Hashed, Sfermion, and Gold House Foundation; Kasagi’s platform aims to unite the entire anime content creation ecosystem, from IP owners to artists and voice actors.

Humble Sustainability raises funding to help organisations reduce e-waste
The investors include Gobi Partners, National Development Company, Double River Impact, and XA Network; Humble, which helps businesses sell their old IT equipment, claims to have diverted over 250k kilograms of e-waste from landfills so far.

BANIQL attracts US$1.6M for its innovative approach to nickel, cobalt extraction
The investors include BEENEXT, Seedstars, A2D Ventures, Sopoong Ventures, and XA Network; BANIQL can reduce water and energy consumption, minimise chemical usage, and decrease the ecological footprint associated with nickel and cobalt extraction.

Singapore VC Satori Giants enters Cambodia with investment in Jalat Logistics
X Venture Holdings is the other investor in the round; Jalat Logistics provides a management portal to streamline logistics operations and enhance service delivery.

Pine Labs gets Singapore court approval to shift base to India
Pine Labs offers a range of products and services to merchants such as cloud-connected point-of-sale machines and working capital; It is backed by Peak XV, Fidelity, Invesco, Temasek, PayPal and Alpha Wave and is valued at over US$5B.

Musk, Indonesian health minister, launch Starlink for health sector
Musk said the availability of the Starlink service in Indonesia would help millions in far-flung parts of the country to access the internet; The country is home to more than 270 million people and three different time zones.

Didi co-founder Liu steps down after decade at helm of Chinese ride-hailing firm
Liu, the daughter of Lenovo Group founder Liu Chuanzhi, was heavily involved in the company’s key financial decisions, including its merger with Alibaba-backed Kuaidi in 2015 and its takeover of Uber China business.

FEATURES

SEA startup surge: Major funding wins and strategic acquisitions across SEA
Explore the latest startup and investment news, featuring major fundings, M&As, and innovative ventures shaping the region’s tech landscape.

Collaboration and a sense of urgency: What it takes to support climate tech startups in Southeast Asia
How far can entrepreneurs and investors expect help from the government when it comes to supporting climate tech startups?

FROM OUR CONTRIBUTORS

Relationships and networks are the lifeblood of commerce in Asia
Developing professional relationships through network referrals is often the most effective way to expand opportunities and resources.

Human-AI collaboration: The key to unlocking Gen AI’s potential
The Gen AI era is here to stay and will evolve, requiring regular, institutionalised, and purposeful collaboration for a bright future.

Infographic: A visualisation of Indonesia’s electric vehicle transition
To fully bring the local EV industry into the mainstream, Indonesia must craft supportive policies and strengthen its commitment to local production.

FROM THE ARCHIVES

Report: BNPL remains popular amongst Indonesian fintech services users
The survey also revealed that in choosing a fintech platform to use, Indonesian users considered three key factors.

These startups focus on informal plastic waste workers in fight against climate crisis
In many parts of Asia, plastic waste is commonly processed by informal workers who are part of the marginalised society.

7 ways to optimise your product page to attract more sales
If the conversion rates from your product pages are low, it’s time to test their functionality and optimize them.

5 ways to monetise social media technology for startup success
Startups launching into the digital landscape need to use social media to promote and grow their businesses passionately.

Dream big, start small: Joel Neoh shares lessons from his years with Fave
In this interview, Joel Neoh reveals his more details of his plan to take a break after leaving Fave in March 2023.

To leverage Web3 technologies, Web2 companies may start by building the right culture
According to a panellist, Web3 is all about “a change in how we are looking at our community and our audiences”.

With US expansion on the horizon, Helport aims to help customer support teams cut down on error rate
This year, Helport has a major plan to expand in the US while maintaining its leading position in Southeast Asia.

Artem Ventures: Malaysia is a fantastic starter market, but startups need help to scale internationally
Artem Ventures is a VC fund management company currently managing a fund in partnership with insurance giant FWD Group.

500 Global: SEA’s agritech sector holds enormous potential as funding winter drives resilience
500 Global Partner Saemin Ahn highlights the rise of agritech in SEA. How can investors tap into this opportunity?

DANA Indonesia advocates fintech companies’ vital role in advancing financial inclusion
DANA Indonesia CEO Vince Iswara spoke about how fintech services introduced unbanked society to the ease and practicality of transacting and managing their finances.

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10 decisive factors for choosing your startup’s tech stack in 2024

A solid tech stack can take a startup from its earliest stages to the heights of success, so the choices you make when your planning is still more of a primordial soup than a fully evolved entity will determine whether this is a smooth ride or a path paved with potholes.

It takes a healthy dose of attention to detail to do this efficiently and with good end results, so before you go any further, read over the following factors in order to come to a satisfactory tech stack decision.

Combining compatibility and longevity

First and foremost, compatibility and future-readiness need to be at the top of the agenda as you lay the foundations of your tech stack. 

Here are pertinent points to consider:

System compatibility

Ensure that each component of your tech stack seamlessly integrates with others. For example, if you choose a front-end framework like React, ensure your back-end services like Node.js can easily communicate with it.

Scalability

As your business grows, so will your system needs. Choose technologies that can scale up efficiently without requiring a complete overhaul. A good example is using AWS or Google Cloud, which provides scalable cloud infrastructure as demand increases rather than being held back by an overreliance on in-house hardware.

Also Read: 6 SaaS startups to showcase cutting-edge solutions at Echelon X

Another example is selecting the right container orchestration platform — like Kubernetes, Docker Swarm, or Apache Mesos — which takes an in-depth investigation of the available options. These platforms enhance load-balancing capabilities and streamline integration with both cloud providers’ tools and open-source alternatives, making scaling smoother as demand increases.

Future-proofing

Opt for technologies that are regularly updated by their developers and have a strong community backing them. This ensures that you are not left behind as new advancements emerge. 

For instance, utilising Python for machine learning applications ensures you’re working with a language that’s continually updated and widely supported. A similar concept can be applied more broadly to capital allocation, so it’s a strategy that will stand you in good stead as a startup founder.

Maintenance and support

Consider the ease of maintenance and the availability of support channels. Being able to quickly address technical issues can drastically reduce downtime. 

So in the case of choosing a database, the likes of PostgreSQL not only offer comprehensive documentation but also provide widespread community support which can help in quickly addressing technical issues.

These considerations are sensible because they avert costs and complications in years to come — as evidenced in a recent Lenovo study, which found that 83 per cent of CIOs are concerned over a lack of resource availability in spite of facing obstacles to IT infrastructure innovations.

Prioritising performance and cost-effectiveness

Another lynchpin part of putting together your tech stack is knowing that performance and cost must strike a perfect balance to ensure your startup’s longevity and efficiency. Here’s how you can achieve this:

Resource efficiency

Select technologies known for low resource consumption, which can significantly reduce hosting costs. For instance, Go is renowned for its efficiency in CPU and memory usage compared to other back-end languages like Python or Java.

Also Read: Lack of pitching skills is a major problem Hong Kong-based startups face: HKSTP’s Derek Chim

Cost of implementation

Factors include not only the initial setup cost but also long-term financial implications. Using open-source software such as Apache Kafka for handling real-time data streams can be less costly than proprietary software due to no licensing fees.

Performance under load

Consider how well the technology performs under increased loads or high user traffic. MySQL, for example, handles read-heavy applications well but might struggle with write-heavy scenarios, where PostgreSQL could perform better.

Ensuring security and compliance

Security threats and regulatory requirements are significant when choosing your startup’s tech stack – particularly given that cybercrime costs are set to rise by US$5.7 trillion over the next five years. 

Here’s how to tackle these crucial aspects effectively:

Built-in security features

Opt for technologies that offer robust built-in security features. For example, Ruby on Rails has built-in protections against SQL injection and cross-site scripting, providing a safer development environment.

Compliance readiness

Choose technologies that simplify the compliance process with prevalent regulations like GDPR or HIPAA. AWS, for instance, offers configurations that are compliant with multiple regulatory standards out of the box, which can expedite deployment timelines.

Regular updates and patches

Incorporate tools known for regular updates to protect against vulnerabilities. Ubuntu Server is a good example; it offers frequent security patches and updates crucial for maintaining system integrity.

The bottom line

Be mindful that even with your tech stack on lock, your startup journey will require a lot of other pivotal decisions to be made — often at a point in time when you might not have the experience or adequate data to choose wisely. That’s why taking your time is necessary, even if you’re eager to forge ahead.

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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Uncharted collaborations: From little shiny red dot to startup hotspot 

At a recent May Day Rally, PM Lee Hsien Loong shared an inspiring story about community initiative and government support. He said: “We told her, if you take the lead, the Government will support you.” It sparked my imagination about what could be possible for startups.

He spoke of a scenario where government support helped turn a vision into a thriving reality for the community. What if this kind of support could be extended to the startup ecosystem? While his focus was on community development, it got me thinking about the potential for government collaboration with the private sector to turbocharge local startups.

I think the government could really benefit from closer collaboration with private companies to drive significant improvements. Both sectors aim to succeed and boost employment, but they need to coordinate better to maximize their efforts. While semi-government-linked companies exist for this purpose, they often struggle with public perception. It might be time to explore new approaches under fresh leadership.

Here’s an idea that might seem a bit ambitious since I’m not in public service, but imagine if NParks and the LTA worked together to create bike lanes and pathways connecting to MRT stations. This would not only make cycling safer but also reduce road traffic and daily commuting frustrations.

Another innovative concept could be for Singapore Post to experiment with drones for delivering small packages. Given Singapore’s compact size, we could start this on a small scale to test its viability. If successful, it could be a game-changer for local logistics, expanding to cover more areas.

Also Read: Singaporean VC firm Satori Giants enters Cambodia with investment in Jalat Logistics

We also need to enhance our recycling efforts. Countries like Sweden and Germany have set high standards in waste management, and we can learn from them. Starting a comprehensive campaign to educate the public on better recycling practices could help us avoid a future waste management crisis. 

In the vibrant city-state of Singapore, we have all the ingredients to become a leading startup hub: a strategic location, robust infrastructure, and a forward-thinking government. Entrepreneurs here are buzzing with ideas and ready to take on the world. However, despite these advantages, there are hurdles that can dampen the entrepreneurial spirit.

Businesses in Singapore, whether small enterprises or large multinationals face several significant challenges. High operational costs are a major hurdle, with steep rental fees and a high cost of living impacting the bottom line. Additionally, the tight labor market makes finding skilled talent difficult.. Furthermore, the complex regulatory environment poses a daunting challenge, especially for smaller companies that may lack extensive compliance resources. These factors combine to create a challenging landscape for business operations in Singapore.

Singapore’s government is not slouch for supporting innovation with initiatives like SkillsFuture and flexible work arrangements. However, the reality sometimes falls short of the needs. With a myriad of funds and resources available, the landscape can be confusing. Wouldn’t it be great if accessing support was as simple as ordering a kaya toast set? We need a streamlined, less overwhelming system that directly meets diverse sector-specific needs.

As we’ve welcomed many MNCs to our shores, it’s time to nurture our own companies to compete on the global stage. Singapore is ripe for innovation and growth, and with the right support and collaborations, local enterprises can evolve into the next big global players.

In moving from the ‘Little Red Dot’ to a global startup hotspot, Singapore must foster uncharted collaborations that redefine public-private partnerships. It’s time for all stakeholders to come together and turn these visions into reality, propelling Singapore to the forefront of global innovation and entrepreneurship.

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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A new taste of capital investors for technology startups in Asia

The US banking crisis is driving capital flows into Asian assets; analysts say investors are betting confidently on China and the region’s emerging economies. 

2023 is seen as the “winter” of capital raising for tech startups due to shifting preferences among international and Vietnamese venture capital funds (VC); however, the recent explosion in the popularity of artificial intelligence (AI) applications like Sora and Chat GPT has caused many experts and investors to reassess the technology’s development potential. 

Attractive Asia market

Furthermore, financial market indices throughout Asia, except Japan, continued to rise following Silicon Valley Bank’s (SVB) collapse on March 10. In the same time frame, this US bank index saw an almost 10 per cent decline.

Managing director and head of Citibank’s economic and market analysis for the Asia-Pacific region, Ms. Johanna Chua, stated: “We think Asia is still relatively well insulated from market shocks.” The USD will become less expensive as a result of the US fall, supporting capital flows in Asia more.”

The Asia-Pacific region also benefits from generally more flexible monetary policy, according to Bloomberg News. State banks in Australia, South Korea, Indonesia, and India have stopped the capital tightening cycle, in contrast to their counterparts in the West.

Investors take less risks

The general secretary of the Vietnam Bond Market Association, Mr. Do Ngoc Quynh, made it quite evident how the capital markets of established nations like the US and Canada as a whole differ from those of developing nations like Vietnam. 

Also Read: Crafting a winning healthtech pitch deck: The insider’s guide to attracting investors in 2024

Investors in sophisticated nations or countries are ready to invest heavily in research and development even when they have no idea how the final product will look. Funding research and development is a very costly and risky endeavour. It is not guaranteed that research products will be more optimised than existing ones, even with world-class experts.

On the contrary, one area where the Vietnamese financial sector is deficient is in venture capital funds and funding sources for early-stage companies. 

According to Mr. Quynh, the model is either seed (also known as a seed round) or pre-seed, which refers to early capital when the project has not yet been revealed and is used when investment funds are prepared to “put in” between thirty and fifty thousand USD. Few successful initiatives are all that are needed for hundreds of early startup ideas—which are deemed unprofitable—to break even or even turn a profit after a few years. Creating this kind of investor will be challenging in the current climate.

The trend of combining Blockchain and AI

The Decentralised Physical Infrastructure Network, or DePIN, is one area where blockchain and artificial intelligence interact. Big data (big data) is the source of knowledge that AI must acquire, yet this training is highly costly. 

Businesspeople will develop a market where people with unused video cards plug into the system for others who require that resource for training, even though industry giants like iCloud, Amazon, and others do not yet offer services. make AI. This is known as DePIN, and it’s going to catch on soon.

The combination of blockchain and AI will be very special. Some startups that combine blockchain and AI platforms have raised US$30 million, even $120 million, which is a very large sum at the moment, and there aren’t many funds that can disburse such a large amount of money.  

Also Read: Mastering the art of fundraising: Winning strategies to engage investors

Technology scientist Mr. Nguyen Trung Thanh, Chairman of the Web3 Committee, Vietnam Blockchain Association, discusses the initial investment of venture capital funds for projects on deep learning or neural networks, the early forerunners of artificial intelligence, in 2013.

At the time, these projects were not trending at all, and researchers were unable to respond to the trend. Similar to the questions that investment funds currently ask, what is the method of conducting business, or who are the clients

They continue to spend, though, and the outcome is the cutting-edge AI technology of today. As a result, there is always a high chance of new technology ventures succeeding and investors ready to contribute money.

It is crucial that the finished product genuinely adds long-term value to society; if we follow trends blindly, these projects will eventually fail financially. An example of this would be projects that exist and develop, such as AI technology, and ultimately fail.  

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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The great breakup: Why women are leaving tech leadership & what we can do

Women have a knack for identifying the unaddressed aspects of the female experience that remain untouched by the patriarchal structures surrounding them—think of Grab, ShopBack, and Bumble, to name a few.

Meri Rosich, Board Committee member at SG Women In Tech, said:

“Women’s leadership in tech is crucial for driving innovation, fostering diverse perspectives, and creating products and services that cater to the needs of a broader audience. As technology continues to permeate every aspect of our lives, it is imperative that the individuals shaping these technologies reflect the diversity of the societies they serve.”

Yet, despite significant progress by women in technology and entrepreneurship, a concerning trend persists: a record number of talented women are leaving corporate leadership positions. In what can be termed a “Great Breakup,” where women leaders are demanding more from their work and are increasingly inclined to switch jobs to fulfil their needs, this exodus jeopardises diversity and innovation within organisations.

Identifying one of the most significant barriers to female leadership, Siew Ting Foo, who has been named one of Campaign Asia’s top 50 most influential marketers in Asia five times from 2018 to 2023, offers an insider perspective, stating,

“Often, females experience imposter syndrome, holding themselves back and engaging in self-doubt, believing ‘we are not good enough.’”

Building a sisterhood for success

Hosted by SmartOSC, in partnership with SG Women in Tech and Singapore Computer Society, the SheEO workshop addressed the specific challenges women face, including limited access to funding, underrepresentation in leadership roles, and myths that prevent women from thriving in the workplace.

Also Read: Invest in women, accelerate progress: Why gender equality matters now more than ever

When it comes to empowering women’s leadership, Mathilde Swierczynska, Co-Founder and Director at Inspiring Girls SG, in her talk at the SHEEO workshop, believes in promoting a sisterhood culture to uplift women in the workplace, often mentioning the famous quote:

“There’s a special place in hell for women who don’t help other women.”

Harvard Business Review research suggests that while successful men gain advantages from their connections to various influential individuals, women need more than just that to reach the highest echelons of executive positions. In addition to broad networks, women require a tight-knit inner circle of female contacts.

This is because women often encounter cultural and political barriers on their path to executive roles. Hence, they not only benefit from being central in the network but also from having a close circle of female contacts. These networks provide confidential insights into organisational attitudes toward female leaders, empowering women in their job searches, interviews, and negotiations.

Echoing this sentiment, Caitlin Nguyen, Head of Digital and Customer Engagement at Abbott, emphasises the importance of community and support networks in the She Empowers Others campaign at SmartOSC, asserting,

“The role of community and building support networks is not to be underestimated. Not only does it further empower women, but it also strengthens learning agility and fosters continuous improvement both professionally and personally.”

“We recognise access to networks as a significant barrier hindering women’s advancement,”

said Hanh Le, Deputy CEO of SmartOSC. “SheEO workshop aims to empower women to challenge stereotypes and pave the way for a more inclusive and equitable future.”

The SheEO workshop forms an integral part of SmartOSC’s Forward content ecosystem, comprising podcasts, events, and magazines, representing a crucial stride towards nurturing a more inclusive tech industry.

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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Ecosystem Roundup: Sam Altman’s crypto project halted in HK | KKR, TPG consider PropertyGuru buyout | Oyo shelves IPO plans once again

Sam Altman

Dear reader,

OpenAI chief Sam Altman-led Worldcoin cryptocurrency project has faced significant backlash in Hong Kong for violating privacy laws.

The city’s Privacy Commissioner for Personal Data (PCPD) criticised Worldcoin for its “unnecessary and excessive” collection of biometric data, including iris and face scans, labelling the practice as invasive and unjustified. This data collection aims to provide users with a unique digital identity, known as a “World ID,” but the approach has raised serious privacy concerns globally.

The PCPD’s investigation revealed that over 8,000 individuals in Hong Kong had their biometric data collected, a process lacking sufficient transparency and informed consent. The privacy watchdog’s enforcement notice demands an immediate halt to these activities, emphasising the severe potential consequences of data breaches.

Worldcoin’s operations in other countries, including Spain, Portugal, and Kenya, have similarly been suspended over privacy issues.

Despite Worldcoin’s claims of encrypted and secure data handling, the PCPD condemned the project’s prolonged data retention plans and highlighted the legal repercussions of non-compliance with their enforcement notice, which could include hefty fines and imprisonment.

This controversy underscores the critical importance of stringent data protection standards in the rapidly evolving digital landscape.

Sainul,
Editor.

=======

NEWS & ANALYSIS

Sam Altman’s crypto project halted in HK over privacy concerns
The Worldcoin cryptocurrency project, set up by the OpenAI chief, breached Hong Kong’s privacy laws by demanding “unnecessary and excessive” scans of users’ eyes and faces, the city’s privacy watchdog said Wednesday.

KKR, TPG said to weigh options for PropertyGuru including buyout
KKR and TPG own about 26.5% and 29.6% of PropertyGuru, respectively; Singapore-based PropertyGuru went public in New York in 2022 after a merger with the SPAC Bridgetown 2 Holdings Ltd.

Oyo, once valued at US$10B, shelves IPO plans for second time
Oyo had initially filed paperwork with SEBI in 2021 for a public listing but withdrew it and refiled it in 2023; India’s market regulator has yet to approve either of Oyo’s applications, which raises questions about its readiness to face public scrutiny.

Snowflake talks to acquire Reka AI fizzles with no deal
The details are not available; The deal would have helped boost Snowflake’s business, as it sees generative AI as a key growth driver for its cloud-based data analytics offerings.

Honest Bank extends Series B to US$21.5M with Rakuten, Jetha backing
In 2023, the financial services startup received ~US$19M from Japanese firm Orico in 2023 for the same round; Honest Bank’s core product is the Honest Card, a credit card available in both physical and digital form.

PropertyGuru Q1 loss narrows to US$4.6M
In comparison, the proptech firm recorded US$7.5M net loss in Q1 last year; Revenue for the quarter rose 11.9% to US$27M on the back of a strong growth in its Singapore marketplace segment.

Mighty Jaxx collects US$11M more in series A+ round to fuel US, Europe growth
Sunova Capital and East Ventures joined the new round; Mighty Jaxx creates limited-edition collectibles in partnership with well-known companies; It plans to scale up its business in the US and Europe this year.

Alibaba considers convertible bond sale, following JD.com
Alibaba aims to gain capital by buying back shares and boosting its growth strategies. However, the firm is hoping to get roughly US$5 billion – a lot more than the US$1.75 billion that rival JD.com recently announced.

Singapore-based ThinKuvate launches US$12M India-focused fund
ThinKuvate India Fund will look to invest in 12 to 15 startups annually with an initial amount of up to US$360K; ThinKuvate primarily invests in healthtech, fintech, IoT, AI-ML, consumer-tech, and martech.

Singapore’s warehousing automation firm XSQUARE lands US$7.8M in Series A financing
The investors are Wavemaker Partners, SEEDS Capital, and Goldbell; XSQUARE’s autonomous forklifts simplify warehouse operations without requiring extensive reconfiguration, thus saving time and costs.

Cocoon Capital invests in Bangladesh’s B2B job-tech platform Shomvob’s US$1M round
The startup also received a grant from the Bill & Melinda Gates Foundation; Since launch, Shomvob claims to have registered 600,000+ job seekers and 1,300+ companies, facilitating 12,000+ job placements.

Luxury resale marketplace PopChill bags US$3.1M for Singapore expansion
The investors include Top Taiwan Venture Capital, 500 Global, and Acorn Pacific; PopChill’s marketplace features over 100,000 items in partnership with three of the top ten luxury resellers in Japan and suppliers from Taiwan and Hong Kong.

Ray Dalio purchases two shophouses in Singapore for US$18.9M
This makes Dalio yet another billionaire to purchase shophouses in the city-state; Zhang Ying, spouse of Alibaba Group co-founder Jack Ma, spent US$33.3M for three connected shophouses on Duxton Road in February.

FEATURES & INTERVIEWS

HKSTP’s Derek Chim on the four skills required for startups to thrive in Hong Kong
Hong Kong has good researchers and scientists but in the innovation and tech sector, there is a particular need for skilled product managers, says the HKSTP’s Head of Incubation.

Right Choice Capital CEO on surpassing revenue milestones, future innovations
The fintech firm recently achieved 114% y-o-y revenue growth and crossed the US$7.4M revenue threshold while maintaining EBITDA; Since its inception eight years ago, the firm has raised over US$22M from private investors.

Nandina REM gives a second life to materials from retired aircrafts
The Singaporean firm builds an innovative approach to reclaiming precious materials from retired or end-of-life aircraft and reprocessing them to aviation specifications for use in new products, such as EV battery casings.

The Indonesian startup ecosystem is facing a Great Reset, but Nicko Widjaja remains a believer
As the market went halfway through 2024, BRI Ventures CEO Nicko Widjaja shared notable trends that he observed in Indonesia.

‘Deeptech startups require more support, but have sustained competitive advantages’
SDTA Founding Partner Luuk Eliens says the venture builder engages with corporates, investors, research institutions, and government agencies to pool resources and expertise for its ventures.

How Plixstar eases digital transformation for plastic manufacturers in Malaysia
Plixstar creates an online platform for plastic manufacturers, helping them undergo digital transformation and grow their business.

CONTRIBUTORY POSTS

From hustle to zen: Learning to pace myself in the startup world
Startup life burned me out, but breaks, box breathing, and writing became my reset button; LFG co-founder Darryl Han is sharing his story to help you avoid the same fate.

A new taste of capital investors for technology startups in Asia
The Asia-Pacific region benefits from generally more flexible monetary policy, according to Bloomberg News; State banks in South Korea, Indonesia, and India have stopped the capital tightening cycle, in contrast to their counterparts in the West.

AI infrastructure: The unsung hero of technological innovation
At a time when AI’s applications and ethical concerns are most discussed, it’s crucial to recognise that the underlying infra serves as a fundamental necessity and a strategic asset for technological advancements, presenting prime investment opportunities.

Uncharted collaborations: From little shiny red dot to startup hotspot
In moving from the ‘Little Red Dot’ to a global startup hotspot, Singapore must foster uncharted collaborations that redefine public-private partnerships.

ESG frameworks and standards: Cutting through the complexity for private markets
Having navigated ESG frameworks myself, I’ve created a concise guide with useful links to demystify these concepts for private markets.

10 decisive factors for choosing your startup’s tech stack in 2024
Crafting your startup’s tech stack requires careful planning to ensure success, considering factors like compatibility, scalability, future-proofing, maintenance, and support.

Building trust through partnership: How collaboration enhances reputation
Building your client base directly is one of the primary ways in which a strategic collaboration may help your company expand.

FROM THE ARCHIVES

Expert advice for crafting a winning deck, straight from the community
While there are many factors that contribute to the success of a fundraising process, you want to make sure that your pitch deck is spot on.

With STEPVR, making AI-generated videos is as easy as creating PowerPoint presentation
STEPVR was part of AI Trailblazers, Singapore’s first Generative AI Innovation Sandboxes established to accelerate AI solutions development.

How to build deep tech startups across borders
Deep tech entrepreneurial journey require both short-term, dynamic, and medium-term, trust-building types of interactions.

Hacking your way into angel impact investing with just US$10K
As the Head of Special Projects at Top Tier Impact, I will give you these much-needed tips on how to start angel impact investing.

Navigating global expansion: Essential tips for entrepreneurial success
For successful global expansion, entrepreneurs must consider these factors to navigate challenges and maximise benefits effectively.

Crowdfunding for startups: Where to begin and how to go about it
Crowdfunding changes the game by reducing dependence on conventional and sometimes exclusive means of financing.

Embracing AI’s promise: Navigating the future of marketing
In an era where AI is reshaping the marketing industry, we explore how marketers, particularly in Singapore, can unlock AI’s potential.

The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

How is open-source collaboration empowering Asia’s fastest-growing markets?
From startups to multinational corporations, Asia’s businesses actively integrate open-source technologies into their operations.

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