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Boost your business: How delegation and empowerment lead to success

In today’s rapidly changing business environment, having a dynamic and engaged workforce is more critical than ever. One way to achieve this is by delegating authority and empowering employees. 

Delegating authority involves entrusting specific tasks and responsibilities to your team members, while empowerment consists of giving them the autonomy and authority to make decisions and take ownership of their work.  

But it can be scary

Delegation and empowerment can be scary if you are used to being in control of every aspect of running your business. But failing to delegate only holds back your business’s potential. 

However, if you are not ready to delegate work entirely, you could follow the concept significant businesses rely on, such as leveraging business software. However, you will want to pick an industry-specific solution to ensure you get the most out of your investment. 

For example, if you are in the brewery business, a tool like Ollie can help you delegate some of your operations. This way, your employees will have some form of autonomy while maintaining some level of control by limiting their autonomy through the tool. 

Importance of delegating authority and empowering employees

Better time management

Delegating authority to your team members can help you manage your time more effectively. Better time management becomes possible because you can get some tasks off your hands so you can focus on tasks and activities that matter the most. 

Moreover, when you delegate authority, everyone on the team will have to handle what they can, which means you will have more work done within a specific time rather than having one or a few people doing all the hard work.

Improved team morale

Delegating authority and empowering employees can also positively impact team morale. When team members are given a sense of ownership and responsibility for their work, they feel more invested in their jobs. 

When employees feel empowered, they are more likely to communicate with their colleagues, share their ideas and expertise, and work together to achieve common goals, leading to a more cohesive and effective team.

Also Read: The unsung hero: Why every CEO needs a strong second-in-command

Increased productivity

Improved team morale helps create a sense of ownership and responsibility. In other words, your employees start looking at your organisation’s success as their own, ultimately leading to increased productivity. 

Empowered employees are also more likely to take risks and be innovative. They are not afraid to try new approaches and experiment with different methods, which can lead to better outcomes, improved processes, and more effective solutions.

Better decision making

When team members feel empowered, they will be more eager to share their minds with you, leading to a culture of collaboration and shared decision-making where everyone’s perspectives and expertise are valued.

Having more than one or just a few people involved in decision-making benefits from diverse perspectives and insights, leading to better decisions, improved problem-solving, and more innovative approaches to business challenges. 

You do not always have to go with all the decisions your team shares, but you will definitely find ideas you may never have thought about on your own occasionally.

Skill development

Empowering employees allows them to develop new skills and take on new challenges. This, in turn, helps build their confidence and expertise and can benefit your organisation in the long term.

Employees want to work in an organisation where they feel their careers are advancing. This can lead to higher job satisfaction and lower turnover rates. You could also consider coupling delegation and empowerment with training to make your employees more effective at their responsibilities and further promote job satisfaction.

Succession planning

Delegating authority and empowering employees can also be crucial in succession planning. By developing your team members’ skills and providing them with opportunities to grow, you can ensure that your organisation is well-prepared for future challenges and transitions.

This can lead to a smoother transition and a more stable leadership team. It also helps to retain institutional knowledge and expertise.

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.

Join our e27 Telegram groupFB community, or like the e27 Facebook page.

Image credit: Canva Pro

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Ecosystem Roundup: Indonesia’s Octopus in dire straits | Grab, Trans-cab asked to address competition concerns

Dear reader,

The turmoil at Indonesia-based waste management startup Octopus highlights the severe consequences of financial mismanagement and poor leadership.

The company, led by CEO and co-founder Moehammad Ichsan, has failed to pay employee salaries for months, leading to widespread distress among its staff. Despite assurances of forthcoming payments, Ichsan has remained unresponsive since mid-May. This lack of communication has exacerbated the crisis, leaving over 100 employees owed approximately 7 billion rupiah (US$428,800) in unpaid wages.

The company’s downfall was marked by significant financial missteps, including excessive hiring and overcompensation, which rapidly drained its resources.

After securing US$5 million in a July 2022 funding round, Octopus faced immediate cash-related troubles, ceasing payments to vendors and employees. This financial strain led to the termination of partnerships with high-profile clients and left the company non-operational.

Efforts to sell assets and explore mergers have not alleviated the financial woes, with proceeds from asset sales covering only a fraction of the debts. The lack of formal bankruptcy declaration further complicates the resolution of financial obligations. Employees, driven to desperate measures to survive, are now seeking legal action against Ichsan and the company.

The situation at Octopus serves as a stark reminder of the critical importance of transparent financial management and responsible leadership in maintaining business sustainability and employee welfare.

Sainul,
Editor.

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NEWS

Octopus sinks amid unpaid staff wages, stalled acquisition talks
The Indonesia-based waste management startup has not paid employee salaries for months, and it has been exploring M&A and the sale of its assets to settle outstanding wages.

SoftBank acquires UK AI chipmaker Graphcore
Graphcore has devised a new kind of processor dubbed an “intelligence processing unit”, distinct to the kinds of graphics processing units developed by the likes of Nvidia.

Temasek returns to black in FY 2024
Temasek turned in a one-year total shareholder return of 1.6% for the financial year ended March 31, reversing the previous year’s negative showing. However, the recovery was hampered by the weak China market.

Grab’s Trans-cab buy would significantly reduce competition, watchdog says
The Competition & Consumer Commission of Singapore said that rival ride-hailing platforms, such as Comfortdelgro will be deprived of drivers who work for Trans-cab if the deal goes through.

Nika.eco bags funding to develop AI-powered climate data and insights platform
The investors are Silverstrand Capital, Timbul Venture, DMV Investments, Orvel Ventures, and Ascend Network; Nika.eco tracks forest carbon, conducts deep dives into geospatial data and analyses additionality, baseline, leakage and permanence data.

Singapore gets Net Zero-X exchange for investors to invest in climate tech projects
Open to institutional and accredited investors, Net Zero-X enables sustainability-minded investors to identify and support vetted green, clean, and climate tech projects.

Filipino B2B marketplace Packworks gets government backing to develop AI feature
Packworks will develop an AI-powered precision marketing model to offer sari-sari stores customised recommendations and promotions from FMCG partners.

Tesla reportedly delays ‘robotaxi’ event to October
The company reportedly needs more time to build the prototypes; It had been aiming for an August 8 event; Just a few weeks after Musk announced the robotaxi event, he slashed more than 10% of Tesla’s global workforce.

X is building a ‘dislike’ button for downvoting replies
The latest tests indicate that X is only considering allowing downvotes on replies, to help showcase the better replies at the top of a long thread while moving less-liked replies further down the thread.

FEATURES

AI powerhouses: Unveiling Singapore’s top 30 funded innovators
Singapore’s AI landscape flourishes with top-funded companies revolutionizing finance, healthcare, e-commerce, and more.

Amidst funding slowdown, these 5 Vietnamese tech startups inspire hope for the rest of the year
Categories such as e-commerce, fintech, and related services remain the most popular verticals for investors in Vietnam.

Rey seeks to redefine health insurance in Indonesia with a Netflix-style subscription model
CEO Evan Tanotogono discusses Rey’s unique value proposition, regulatory navigation, and expansion plans within Southeast Asia.

Anchanto CEO on why human resource is essential for a growth stage startup
Vaibhav Dabhade shares that human resources account for around 80 per cent of the company’s costs as a growth-stage startup.

Sustaining the work: How businesses can take a step forward in their move towards net zero
As tackling the impact of climate change becomes more urgent, the next critical decade must focus on pathways.

These 5 companies showcase the power of martech in driving efficient, personalised marketing strategies
One critical advantage of martech is its ability to provide valuable insights into customer behaviour and preferences.

Choco Up, Set Sail AI forge partnership to help businesses grow through Gen AI adoption
The collaboration will allow Set Sail AI’s customers to access Choco Up’s revenue-based financing platform.

FROM OUR CONTRIBUTORS

Embracing AI in Southeast Asia: The strategy for avoiding cost overruns
As companies embrace AI, they must clarify their strategies to maximise investments and generate revenue while managing costs.

The emerging crypto trend of 2024: The intersection of AI and blockchain
AI’s ability to process and learn from vast data complements blockchain’s decentralized, transparent, and secure nature.

Can you build an app without coding? My experiment might surprise you
Creating a kids’ meditation app with AI and no-code tools provided a rewarding challenge, allowing me to develop a valuable resource for my children.

Skill-based hiring vs industry-based hiring: How should one decide?
Before an employer starts the hiring process, it is imperative to note the pros and cons of both to proceed.

In Tokyo, DAOs aren’t the future – They’re the present
Tokyo’s strategic emphasis on DAOs contrasts starkly with stricter regulatory climates observed in Western jurisdictions.

Asia’s tech potential: How self-taught education is shaping the next generation of developers
One crucial factor that drives self-learning efforts for beginner developers is schools catching up on the latest development technologies.

Boosting efficiency and care: How AI is transforming medical records
The combination of medical expertise and AI points to a future where technology and human touch redefine healthcare excellence.

Beyond the hype: Taking Gen AI mainstream with next-level automation
Generative AI can enhance decision-making processes by providing easier access to vast amounts of data and enabling efficient and in-depth analysis.

FROM THE ARCHIVES

The journey of Alternō: A tale of innovation, sustainability, and friendship
Alternō envisions a world where sustainable energy is accessible and affordable for all, heralding a new era of eco-conscious living.

The future of mobility is in public-private collaboration
Foxconn-initiated MIH Consortium and Techstars are paving the way as they expand their reach and engage startups in Southeast Asia and globally.

How Radiant1 helps hotels optimise room rate pricing in real time, maximise revenue
Radiant1’s USP lies in its ability to synthesise multiple datasets and turn those into actionable recommendations and automated action.

5 things to consider before launching a business in Taiwan
Here are some things to think about before you begin mapping out your path to launching a business in Taiwan.

‘HUGgy’ng innovation: Dolbomdream’s tech vest aims to bridge mental healthcare gap
Dolbomdream’s HUGgy vest provides a calming effect for those with developmental disabilities, aiming to improve access to mental healthcare.

The case for coexistence on the journey to core modernisation
The coexistence approach offers banks the opportunity to blend legacy systems with modern tech for a balanced transition.

Beyond Singapore and Indonesia, SEA startups are working their way out of global crises
Singapore and Indonesia continue to top startup funding list despite ongoing slowdown. What does this mean for the rest?

Why the right framework creates impactful apps
While this leap to a new framework might seem daunting at first, this article explores why it can be worth making that change.

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

How to hack product growth and user acquisition in Thailand
This article covers key trends for targeting Thai users and converting business strategies into product growth hacking methods.

The post Ecosystem Roundup: Indonesia’s Octopus in dire straits | Grab, Trans-cab asked to address competition concerns appeared first on e27.

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Launching Indonesia’s first AI incubator, DiscoveryShift bridges corporate-startup collaboration

Recently, Discovery/Shift announced the launch of DSLaunchpad AI, which is dubbed Indonesia’s first and biggest AI startup incubator.

The organisation has opened registration for the six-week programme, which seeks AI startups with less than US$500,000 in funding and fewer than 10 employees, at least one Indonesian citizen in its team, and working on ideas using technologies such as Machine Learning, Deep Learning, Robotics, Computer Vision, or Generative AI.

These startups will have the opportunity to gain mentorship from notable names in the Indonesian tech startup ecosystem, including On Lee (CEO at GDP Labs), Risman Adnan (Digital Tech Director at Kalbe), Andrias Ekoyuono (Chief of AI at kumparan), and Hokiman Kurniawan (CEO at Meeting.ai).

According to Discovery/Shift Managing Partner Rama Mamuaya, in a call with e27, the first advantage of the programme is the mentors involved in it.

“We are extremely picky with our mentors. We want someone who has achieved something, not just someone who is good with storytelling and public speaking despite the importance of these skills. We try to implement a very high standard,” he says.

Also Read: Artificial intelligence and the art of building presentations

Discovery/Shift, which is a boutique research, consultancy, and advisory firm that started out in 2008 as tech media DailySocial, has invested in one startup and intends to use the programme to help it search for more.

“We see a lot of opportunities in early-stage startups. Very similar to our investment thesis, we also aim to be industry-agnostic. We see that the demand for AI-enablement is cross-sectoral in nature,” Mamuaya says.

In the near future, Discovery/Shift plans to continue working with organisations that are relevant to the growth of AI, from venture capital firms and cloud hosts to chipset manufacturers.

“We strongly believe that AI implementation in the next year will not be anything ‘special’; everyone will be using it. Just like the mobile app when it was first introduced.”

Corporations lead the AI revolution

When asked about significant trends in the AI segment today, Mamuaya begins by pointing out that unlike previous trends in the tech industry, such as Web3, corporations are leading the movement towards AI adoption.

In Indonesia, the banking industry is at the forefront of AI adoption, as reflected in DiscoveryShift’s experience with its clients. The media and entertainment industries followed suit.

Also Read: These Artificial Intelligence startups are proving to be industry game-changers

“In the past, we may have seen the banking industry discussing incorporating blockchain and coins into their system, but we did not see that happening,” he explains.

“What makes AI really stand out is actually corporations’ response to it. In fact, in the banking industry, they have implemented AI since the 1990s for credit scoring, ATM, load balancing their tech stack … So, for them, it’s not a new concept.”

Another notable trend, which Mamuaya believed might sound surprising, is that “no one seems to be investing in AI.”

“Investments in AI companies remain very small because the market continues using products by companies such as OpenAI and Anthropic. The smaller, more applicate, app-level companies do not receive that much amount of money,” he elaborates.

“We did some research and learned that the valuation has not come down that much because these smaller companies are still building on top of the existing LLMs provided by the larger companies, including in Indonesia, even though there are parties that are working LLMs in local and regional languages.”

Indonesia and AI

What are the hurdles that businesses in Indonesia face in terms of AI adoption? According to Mamuaya, some corporations do not understand their own business processes, which prevents them from knowing how to properly implement AI in the right places.

Also Read: Ethics and Artificial Intelligence: Is the technology only as good as the human behind it?

“We often tell them, ‘Sir, you can’t use AI in this business process because your process goes like this,’ and their reaction would be, ‘Oh, so that’s how our business process works!’” Mamuaya says.

“As for companies who already understand AI, their middle-level managements are more detailed with the implementation and in identifying where can automate or augment or eliminate.”

Is there any talent issue in Indonesia? According to Mamuaya, it depends on the focus and skill level.

“If you need data scientists or any level that requires a PhD, of course, [there is an issue]. But like many large markets outside of the US, China, and Europe, we are not developing hardcore, paradigm-shifting core technology,” Mamuaya closes.

“We are only doing this on the applicative level, so we are not facing a problem with talents … even though there is a good argumentation for organisations and even the government to have a sovereign AI.”

Image Credit: Discovery/Shift

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Blockchain-powered fintech firm Partior hits first close of US$60M round

Partior CEO Humphrey Valenbreder

Partior, a blockchain-powered fintech company for real-time payment clearing and settlement, has hit the first close of its over US$60 million Series B funding round.

Peak XV Partners led the round, which included participation from Valor Capital Group, Jump Trading Group, J.P. Morgan, Standard Chartered, and Temasek.

This new round of funding will enable it to advance new capabilities like Intraday FX swaps, cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments.

Also Read: Evaluating the spread of blockchain technology in the financial sector

The investment will also support Partior’s international network growth and the integration of additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network. Partior is currently live with USD, EUR and SGD.

Founded in 2021, Partior aims to address the operating inefficiencies experienced by industry players, including settlement delays, limited transaction transparency and high operating costs, by facilitating the movement of liquidity for financial institutions and their customers.

The firm’s unified ledger enables global financial market participants, including banks and payment service providers, to join its network and access real-time, cross-border, multi-currency clearing and settlement.

Its 24×7 blockchain network can interoperate with real-time local currency payment and RTGS systems globally and facilitates both direct and indirect settlement flows with market players.

Partior’s shared ledger also enables transfers with real-time settlement finality, offering instant liquidity and transparency and overcoming shortcomings associated with sequential processing in legacy payment systems.

Additionally, it is exploring new services, including intra-day swaps, Delivery versus Payments (DvP) settlement and enterprise solutions.

Licenced by the Monetary Authority of Singapore, Partior counts DBS, JP Morgan, Standard Chartered, and Temasek among its founding shareholders.

Also Read: ASEAN explores dropping US dollar: A shift towards CBDC and blockchain technology

DBS, JP Morgan, and Standard Chartered use Partior to facilitate customer payments. Companies, including Siemens and iFAST Financial, use Partior for better access and control of their working capital, 24×7 availability, and faster, more seamless payment flows.

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From mining engineer to travel tech visionary: Darryl Han transforms trip discovery

e27 has been nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we delve into the journey of Darryl Han, CEO and co-founder of LFG, a new travel discovery engine. Leveraging his extensive global experience, Han drives the startup’s early stages.

With over seven years of leadership experience, he has successfully led teams, managed operations, and implemented transformative solutions across multinational corporations and tech giants like BHP, Grab, and Quqo, spanning Australia, Singapore, and Vietnam.

Thoughts, goals, and journey

Han started his career in Australia, advancing from a mining engineer to a production supervisor and coordinator. Amidst the challenges of COVID-19, he made a pivotal career shift from mining to the tech sector in Asia, inspired by Grab’s transformative impact on the economy.

Relocating to Singapore, he pursued a Master’s degree in Management of Technology (MOT, akin to an MBA with a tech focus) while concurrently securing a role at Grab. While completing his studies, he contributed to strategic operations for GrabPay and GrabFood, marking his entry into the tech industry.

“I’ve always been interested in startups, so I took an extended leave from my Master’s programme to dive into them. I joined a Vietnamese startup as an intern through the NUS Overseas College programme and quickly became one of the CEO’s right-hand men. This journey taught me a lot about building a startup from the ground up,” Han said.

Also Read: Experience over expense: How Gen Z and Millennials are redefining travel

Meanwhile, he co-founded LFG with a partner, dedicating nights and weekends to its development. In 2024, they made the leap to work on LFG full-time, launching on Product Hunt and joining Antler Vietnam. They are currently focused on building the next iterations of LFG, guided by user insights and their vision to revolutionise how next-generation travellers discover and plan trips.

Looking ahead, Han’s professional goal is to launch and grow his own venture successfully. Personally, he aims to share his experiences through writing, contribute to thought leadership, and even explore writing fictional short stories.

The driving force

Han’s motivation to contribute began with a desire to share thought leadership and industry insights from his time at a Vietnamese eB2B business, which focused on digitising traditional trade channels in Southeast Asia. His first article centred around that experience.

He joined the e27 contributor community in December last year and has written articles on topics such as recent market trends, the travel sector, entrepreneurship, and more.

“As I kept writing, it became a way to exercise my brain and find clarity in my own thoughts and ideas. I found some of these insights pretty interesting, so I thought, why not share them with others who might be navigating similar challenges? That’s what motivated me to become an e27 contributor — to connect, inspire, and hopefully make a positive impact on others in the startup community,” he said candidly.

Advice for budding thought leaders

Han stresses the importance of diving into writing without hesitation. “Just start writing. Get your thoughts out there, even if they’re rough at first. Tools like ChatGPT and Meta AI can help polish your initial thoughts but don’t rely on them too heavily. Use them to kickstart ideas, then refine your points in your own voice,” he advises.

Also Read: Travel revival: Asia-Pacific on the rise!

“Personally, I find it effective to write like I’m sharing a story, as it makes my writing more engaging and relatable. As an engineer, I always back up my ideas with data and quotes from experts, which adds credibility and strength to what you have to say.”

Juggling too many things?

Han believes that balancing work, contributing, and personal life is all about doing what you love each day, focusing on the crucial 20 per cent that yields 80 per cent of the results and making time for what matters most. “Many have heard this advice before, but it truly works,” Han remarks.

“Self-reflection is key for personal and professional growth. At the end of each year, I review my life like chapters in a book, learning from past experiences to shape the next chapter. I manage my time with tools like iPhone reminders, Google Calendar, and Monday.com for work and life admin tasks. When it comes to leisure, I plan day by day, keeping things flexible and spontaneous (in LFG fashion, of course).”

Staying in the loop

Han stays updated by using LinkedIn for news and announcements. Additionally, he subscribes to articles from e27, Skift, and Phocuswright, as well as Techzi, Strategy Breakdown, Tech in Asia, and TechCrunch. These resources offer him general tech industry updates, trends, and thought leadership columns. For general news, he follows stories from the New York Times and Bloomberg.

To stay updated with the travel industry, he suggests checking out Travel Massive, Skift, and Phocuswright for the latest updates, insights, and community engagement.

As a movie buff, Han finds movies about finding passion, self-discovery, and personal growth particularly inspiring for entrepreneurs. Films like Whisper of the Heart, Good Will Hunting, Dead Poets Society, and The Pursuit of Happyness are his go-to choices for motivation on this winding journey.

“Finding passion isn’t hard. The hard part is having the courage to follow it,” he concludes.

Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem.

The post From mining engineer to travel tech visionary: Darryl Han transforms trip discovery appeared first on e27.