For every startup founder, fundraising is always a top priority. In Q3 2024, global startup funding reached US$66.5 billion, the second quarter below the US$70 billion mark since the fluctuating venture funding downturn. With the landscape ever-changing, how can startups strive to build strong teams, secure investments, and achieve rapid growth?

I founded the power bank sharing service CHARGESPOT in Hong Kong back in 2017. Today, our service operates in seven markets across APAC, powering possibilities for consumers and businesses alike.

Here are five key lessons I’ve learnt along the way, from forming a team and securing funding to scaling globally.

See the market possibilities and demand

One of the key drivers that lead the way to success is identifying unmet needs in the market. Ask yourself, how relevant is your product or service to people’s daily lives? This question helps you understand the real-world impact and necessity of your offering.

Years ago, I noticed the rise of shared power banks in Mainland China and realised the untapped market potential in Hong Kong and other APAC markets. Even today, many regions worldwide still lack access to such simple yet essential solutions. This gap presented a unique opportunity for CHARGESPOT to step in and provide a much-needed service.

Identifying these gaps can help you carve out new business opportunities that others might overlook. By focusing on these unmet needs, you can develop innovative solutions that not only meet current demands but also anticipate future trends. This proactive approach paves the way to long-term success for your startup, allowing you to stay ahead of competitors and adjust course when necessary.

Convince investors that your business is here for the long run

It’s natural for investors to be cautious, especially when your business model is in a niche or emerging space, like CHARGESPOT in the power bank rental industry. The sharing economy business model also faces skepticism about its long-term sustainability.

So how did we win over our investors? We reframed our value proposition. At first glance, power banks seem like daily used yet easily overlooked items. But our mission wasn’t just about providing charging devices; it was about powering possibilities.

We positioned our service as the most convenient, reliable and extensive network of charging solutions that keep consumers and businesses connected and powered up for life’s most important moments. With a partner network spanning F&B, entertainment venues, and transportation hubs, we offered peace of mind and uninterrupted connectivity wherever customers went.

Also Read: Finding the right co-founder involves having tough conversations and a great sense of humour

We also emphasised how our charging solutions elevate the customer experience for our partners, creating new engagement touchpoints and driving business value. By offering a broader vision, we helped investors see beyond the product and understand the business’ long-term potential.

Don’t just look for capital injections

In the startup world, financial backing alone is never enough. Startups should also look out for investors who provide strategic advice, industry insights, and valuable networks that help propel your business.

It’s crucial to find investors who align with your company’s vision and values—it’s not just about securing funds; it’s about forming partnerships that contribute to the long-term growth and sustainability of your business. From our experience, successful partnerships hinge on two factors: investors who share your long-term vision and welcome open, collaborative communication. 

For instance, when we secured our angel investors, they didn’t just write a cheque and walk away. They offered market knowledge and connections, providing introductions to potential partners who accelerated our international expansion. Their understanding of the business landscape and willingness to roll up their sleeves and get involved allowed us to navigate complex market challenges and seize growth opportunities we might have otherwise missed.

Moreover, strategic investors can offer valuable insights into operational improvements, competitive positioning, and long-term growth strategies. They often have experience scaling businesses and can provide mentorship. More than just financiers, they become trusted partners, providing honest feedback, mentorship, and guiding your startup toward sustainable success.

Have a global vision backed by local partnerships

Entrepreneurs should adopt a global mindset from day one. This helps set your business to scale, seize future opportunities, and avoid being boxed into a single market’s constraints. A broader vision opens doors to new markets and positions your company to take advantage of cross-border opportunities.

However, executing global expansion requires local insights. That’s where the right partners come in. We used Hong Kong as a testing ground, fine-tuning our products and strategies before expanding to other APAC markets. Then, local partners brought deep market knowledge, cultural insights, and expertise in navigating the local regulatory environments, enabling us to scale more effectively. Joint ventures could be a good way to start as they help you enter new markets quickly and efficiently.

In each region, we customise our approach. Local partners’ insights help us accelerate market entry, build trust, and gain traction much faster than if we had gone it alone. Localised business strategy planning helps create trust in both the business and consumer sectors locally and abroad. In Japan, for instance, we partnered with the Japan Railways Group (JR), the country’s principal rail network.

Also Read: How motherhood actually propelled me to become an entrepreneur

By expanding the scope of use of CHARGESPOT service in a national-level infrastructure, we gained the brand authority and further strengthened the brand’s awareness in the market. We also prioritise giving back to the community: in the event of natural disasters in Japan, we provide free power bank services to aid the public.

Be ready to lead and learn from both ups and downs 

Last but not least, you should be prepared to be a leader. From founding CHARGESPOT as a startup to bringing it to the international stage, I’m always happy to share my experience and insights at startup and networking events like the Hong Kong University of Science and Technology Unicorn Day. One of the most common questions is: “Who’s suitable to lead a startup?”

To succeed, passion for challenges and a drive for innovation are equally important. Entrepreneurship requires you to embrace risks, test new ideas, and remain open to continuous learning and experimentation. Don’t be afraid to fail — each setback is an opportunity to pivot and improve. And strong execution skills are just as important as vision. Once you have a solid idea, act on it immediately to build momentum. While planning is important, it is through execution that ideas are translated into tangible real-world success.

The startup landscape in Asia is full of possibilities, but starting and scaling a business calls for more than just a good idea. Aspiring entrepreneurs must identify market gaps, secure investor trust, and build strategic partnerships, and have the right mindset and leadership skills. With this approach, startups stand a strong chance of harnessing the power of Asia’s growth opportunities and turning their business ambitions into reality.

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Singapore-headquartered impact investor Clime Capital has invested an undisclosed amount in Indonesia-based distributed solar developer PT Investasi Hijau Selaras (Hijau) through its South East Clean Energy Fund II (SEACEF II).

SEACEF II can invest up to US$10 million in Hijau.

Also Read: Clime Capital backs Philippine solar leasing firm Upgrade Energy

Established in 2017, Hijau (previously known as ATW Hijau) was established in response to customers’ need for a zero-capital expenditure model. This model enables commercial and industrial electricity users to access clean and renewable energy sources using an operating lease method.

The company said it seeks to contribute to the archipelago’s energy transition towards renewable energy by installing solar panels on its clients’ rooftops or ground-mounted areas and charging a rental fee relative to the energy produced.

Hijau said it prioritises technical quality, customer delivery, and safety to provide long-term value to its customers.

The SEACEF II investment will support the accelerated build-out of Hijau’s pipeline, positioning the company to secure follow-on debt financing for long-term growth.

Victor Samuel, President Director at Hijau, said: “Clime Capital’s support will help us expand our green energy solutions across Indonesia while staying true to our focus on quality, safety, and sustainability.”

Also Read: Clime Capital invests US$10M in Vietnamese rooftop solar startup Nami

Clime Capital’s Indonesia Country Manager, John Colombo, said: “We look forward to supporting the company in its mission to deliver rooftop solar projects at the highest industry standards. Our early-stage investments support Indonesian businesses in reducing their energy expenditure while also advancing the clean energy transition.”

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Despite global efforts to promote recycling and build a circular economy, certain types of waste often slip through the cracks due to their perceived difficulty and expense to treat. Wet wastes, characterised by high water content, including food and agricultural waste, sewage and oil sludges, fall into this category.

With more than 80 per cent of the world’s wet waste ending up incinerated, landfilled, or illegally dumped, the environmental and financial costs are staggering. However, amidst these challenges lies a promising opportunity for those willing to innovate and transform wet waste into profit.

The challenge of wet waste

Wet waste presents a unique challenge due to its exceptionally high water content, often exceeding 80 per cent of the waste’s mass. This not only adds to disposal costs but also requires energy-intensive methods to remove excess moisture. Understanding the sources and compositions of various wet waste streams is crucial for developing effective treatment solutions.

Food and agricultural waste

According to the United Nations Environmental Programme (UNEP) Waste Index Report 2021, an estimated 931 million tons of food waste was generated in 2019, with households, food service, and retail contributing significantly.

In parallel, agricultural waste, encompassing materials from farming, livestock rearing, and processing, presents substantial challenges. In China alone, agricultural waste production reaches 759 million tons, contributing to 17 per cent of the global waste volume.

The diverse composition of food and agricultural waste, coupled with high moisture content and microbial activity, exacerbates treatment complexities. Contamination from food packaging and the sheer volume of waste further compound these challenges, making management and disposal efforts logistically and environmentally taxing.

Sewage and oil sludges

Sewage sludge, also known as bio-sludge, arises as a by-product of wastewater treatment processes. With annual production estimates reaching 1.6 billion tons, sewage sludge management becomes increasingly challenging.

Similarly, oil sludge stemming from oil refining and industrial processes presents significant hurdles. Classified as hazardous waste, oil sludge production amounts to approximately 22.3 million tons annually.

Managing sewage and oil sludges entails careful handling and disposal methods to mitigate environmental and health risks effectively.

Also Read: WasteX nets funding to help farm producers convert biomass waste into biochar

Why current solutions fall short

Traditional methods like incineration, composting, and landfilling are commonly used for wet waste management but have significant drawbacks.

Incineration reduces waste volume and can produce energy but emits air pollutants, harming human health and the environment. It is inefficient for wet waste as 30 per cent of the energy goes into drying, and the generated ash residues require landfilling.

Composting, relying on microbial activity, turns organic matter into compost. However, it requires time and space, and not all wet waste is suitable, leading to odour, pest issues, and nutrient runoff.

Landfilling, while convenient, produces methane, a potent greenhouse gas and leachate that contaminates soil and groundwater, requiring extensive monitoring and maintenance to prevent environmental harm and health risks.

Alternative solutions lack scalability and efficiency

Alternative methods like anaerobic digestion, pyrolysis and gasification, and black soldier fly larvae treatment offer solutions but face scalability and efficiency challenges.

Anaerobic digestion, a biological process, produces biogas and digestate but requires long processing times and the residual waste requires further treatment or disposal.

Pyrolysis and gasification are thermochemical processes that convert waste into syngas and biochar or ash residues. However, they demand extensive drying, adding to operational costs.

Black soldier fly larvae treatment involves feeding organic waste to black soldier fly larvae, which consume the waste and convert it into insect protein. However, the treatment process lacks flexibility, scalability and efficiency for large-scale applications.

Although various methods exist for managing wet waste, each comes with its own set of challenges and limitations. Innovative solutions are needed to address these shortcomings and pave the way for a more sustainable approach to waste management.

How hydrothermal technologies can redefine the landscape

Hydrothermal technologies offer a promising avenue for revolutionizing the treatment and utilization of wet waste streams. Unlike traditional methods that often face scalability and efficiency issues, hydrothermal processes leverage the unique properties of pressurized hot water to efficiently break down organic matter into valuable resources.

Understanding hydrothermal technologies

Hydrothermal technologies function by subjecting wet waste to heat and pressure, altering the properties of water within the waste. This transformation enables water to act as a potent solvent, catalyst, and reactant in chemical reactions, enhancing the breakdown of organic compounds. As a result, hydrothermal processes achieve higher efficiency in converting wet waste into valuable end products, including biofuels, biochemicals, and biochar.

Also Read: Rethinking wastewater treatment to support Singapore’s ambitious water goals

Diverse applications of hydrothermal technologies

Hydrothermal technologies encompass various methods tailored to specific process conditions and desired outputs. For instance, hydrothermal oxidation enhances biodegradability or eliminates hazardous waste, while thermal hydrolysis upgrades low-value oil. Recent focus has shifted towards hydrothermal conversion processes like hydrothermal carbonization, liquefaction, and gasification, which hold significant promise for transforming wet waste into fuels.

Competitive advantages of hydrothermal conversion

Hydrothermal conversion processes offer several competitive advantages.

• Enhanced efficiency: By utilizing water content within the waste, hydrothermal conversion eliminates the need for energy-intensive drying, resulting in higher efficiency compared to traditional methods.
• High space-time yield: These processes boast rapid processing times, enabling the treatment of large volumes of waste within a compact footprint.
• Versatility: Hydrothermal conversion processes accommodate a wide range of wet waste streams, addressing diverse environmental and economic challenges.
• Resource recovery: Valuable resources, such as fuels, chemicals, and minerals, are recovered from wet waste, promoting resource conservation and circular economy principles.
• Biological safety: The sealed, high-pressure environment of hydrothermal conversion processes ensures biological safety, eliminating exposure to biological risks and effectively sterilizing the waste.
• Reduced environmental impact: Unlike conventional methods like incineration or landfilling, hydrothermal conversion produces clean emissions and effluents, minimizing environmental harm.

Advancements and future directions

Recent strides in hydrothermal technologies are centred on enhancing efficiency, scalability, and versatility across a spectrum of waste streams. Innovations in reactor design, process control, and feedstock diversification are propelling advancements in this domain, offering transformative solutions for wet waste management.

Altent Renewables, a Singapore-based startup, has developed a proprietary hydrothermal process designed to convert wet waste into syngas and minerals. Syngas, a blend of hydrogen, methane, carbon monoxide, and carbon dioxide, has a multifaceted utility as a fuel gas. It can be harnessed for heat and electricity generation while also serving as a fundamental building block for various fuels and chemicals. These include pure hydrogen, methanol, ethanol, and sustainable aviation fuels, positioning Altent Renewables at the forefront of sustainable energy innovation.

Altent Renewables has conducted extensive testing of their technology in a lab-scale facility, employing various waste streams, including food waste, bio-sludge, and oil sludge. Encouraged by positive outcomes, they are now moving forward with scaling up to a pilot plant.

This phase marks a crucial step towards commercial viability and widespread adoption of their innovative hydrothermal process. By implementing their technology, businesses can potentially reduce wet waste disposal costs by more than 70 per cent, achieving both economic and environmental sustainability.

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This article was first published on April 24, 2024

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Investors understand the role real estate ownership has in long-term wealth creation. But good investment decisions are not possible without good information. High-quality, reliable real estate information is expensive and difficult to get.

Those in the industry know that there are two types of property investors. The have-yachts and the have-nots.

The have-yachts

The have-yachts have access to powerful investment databases that provide precise market data. These databases provide insight into tenant demographics and demand. As well as detailed pricing information about how much properties are selling for at a unit rate. These databases also set out the likely rental income and volume of competition.

They hire armies of analysts to build complex financial models. These forecast net return after-tax and likely return on investment (ROI). Which allows for comparisons to determine where they get the biggest bang for their buck. They buy property at huge discounts to their retail price because they have buying power. Created by the volume of property they buy in a single transaction.

The have-nots

The have-nots rely on vague and misleading property ‘research’ provided by agents and whatever information they can get for free on property portals. They use rudimentary measures such as net and gross yield, which do not account for taxes. Nor the different levels of buying costs and stamp duties. Because they don’t consider property on an after-tax basis, they invest using ‘gut
instinct’ rather than logic.

Also Read: What are the key emerging trends and technologies in proptech space?

The have-nots have no buying power. They fight over the scraps. They get offered property already dismissed by the have-yachts (who could not get a good enough deal, so they moved on).

Proptech will change this.

The have-not reality

Asian investors are in the Australian, New Zealand and UK property markets. But do they get what they bargained for?

Most investors report one of the following:

• They paid too much
• They didn’t account for or appreciate the costs and taxes of investing
• The rent was less than what they had expected

Herded like Lemmings

Investors get herded like lemmings into a pressure cooker sales environment. Forced to make huge investment decisions with limited information. With the threat of missing out unless they act today!

In these high-intensity events, they have no leverage. By the time they walk through the door, they have already lost. Developers and agents have invested big to be there and must recover their costs. These lavish property shows held in five-star hotels are not cheap. Someone needs to pay, and, in the end, it is the buyer.

Property agents focus on specific countries and have access to limited properties. Meaning investors looking offshore must do the leg work themselves. They must determine the costs and benefits of buying in different countries. These are complex decisions and need significant thought.

How can investors harness proptech?

Proptech startups are levelling the playing field for the have-nots. Once elusive data and analysis are now available at the touch of a button. Proptech provides the ability for investors to access this data at a fraction of its cost. By pooling their resources, investors create economies of scale to reduce costs.

Also Read: Indonesian proptech startup Tanaku raises US$5.5M pre-seed capital

New technology has created powerful new analysis tools. These allow investors to undertake a detailed analysis of different properties. All without the need for a small army of analysts to determine what property best meets their needs.

Proptech is bridging the gap between investors and developers

All property developers face the same problem. Property development is speculative and very high risk. The chances of things going wrong are high.

To reduce financial exposure, developers need to pre-sell an element of their development. Generally, in the region of 30 per cent to 50 per cent very early in the development cycle. The have-yachts know this, they demand preferential treatment from developers. They buy property in volume at the early stage of development when the developer’s risk is high. They negotiate large discounts based on the volume of property they buy.

Proptech creates an alternative for developers. Rather than a discounted sale to a have-yacht or the huge financial risk of a sales roadshow. Proptech creates a middle ground where both the developer and small investors benefit.

Proptech can combine investors into a powerful buying group. This group can buy a volume of property large enough to reduce the developer’s financial risk. As well as remove the financial waste of a property roadshow.

The net result is both parties’s win. The developer sells enough property to meet their pre-sale needs. The investors have the buying power of a large investor.

Future trends in proptech

We are currently witnessing a small fraction of what is likely to come. Fintech has revolutionised the financial services industry for the average person. Making financial services safer, cheaper, and faster.

The real estate industry will go through a similar transformation. Owner-occupiers, investors, communities, and developers will all benefit. Innovation will occur in all corners of the property industry ending financial waste. The net result will be lower costs and better outcomes.

For the have-not investors, it will mean better quality and more informed investment decisions. At reduced costs, thereby improving financial performance.

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

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This article was first published on February 6, 2023

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When Singaporeans think about CEOs of leading global companies, they would probably not struggle to rattle off names. However, if they were asked to name a Singaporean CEO leading a global company, they might be able to name Shou Zi Chew, the charismatic Singaporean CEO leading global tech giant TikTok, and a handful of others.

Companies regard Singaporean managers as competent, honest, and hardworking; yet Singapore still has some way to go to produce more CEOs at global firms.

What it means to be a CEO of a global firm

The reality is that the to-do list for any CEO is now much larger than it was before. On top of the perennial tasks of leading an organisation—to set the vision, coalesce the organisation around a new or refreshed strategy, and manage the financials— CEOs must contend with a growing list of external risks, from economic jitters to geopolitical flare ups, and racial and social injustices.

Managing these immediate priorities comes at a time when leaders must also deliver on growing expectations to position their organisation for long-term growth. Every CEO today knows why they need to embrace tech transformation and sustainability. What is less clear is how to do it. These are complex issues for which there is no playbook and for which everyone is looking to the CEO for answers.

At the same time, in a world of multiple stakeholders, media, and social media scrutiny, CEOs can no longer only focus on what they do; they also need to focus on how it will be perceived. This can create a considerable tax on time, constraining your ability to properly solve issues and drawing away much-needed mental capacity for long-term decision-making.

What do boards look for in a CEO

When discussing the CEO role, it is imperative to factor in considerations of the board of directors, who wield the most power in appointing a leader to helm the company.

What boards look for in a new CEO is very dependent on the state of the business and the future objectives. If a business is performing well, then boards want a smooth transition and will often favour internal candidates provided the succession process has been well run. If a business is under performing, it is more common for boards to look externally to inject new thinking into the business, make the hard decisions and changes and arrest the declining performance.

Also Read: What is keeping founders up at night?

If boards could have their cake and eat it too – what they would ask for is the best on both internal and external. The ideal CEO candidate would be an internal candidate with a detailed understanding of the business, people, and culture, but with the objectivity and lack of attachment that an external candidate would bring.

The S-factor: Singapore’s advantage

Based on our observations from working with Singaporean leaders, institutional research as well as interviews with CEOs from Fortune 500 companies, we find that Singaporean leaders generally have four unique characteristics which could make them successful CEOs.

Firstly, cultural agility. Singaporean CEOs are perceived to be adept at navigating the cultural complexity and diversity of the region. This can give them a unique edge over their counterparts from other regions who tend to have built careers in markets that are of a size and scale that don’t always push them outside their cultural comfort zone.

Secondly, a sense of service. From our experience working with Singaporean leaders, they have a deep sense of loyalty and commitment to organisational purpose, due to a combination of factors. Singaporean culture places a high value on trust, respect, and loyalty; this emphasis on harmony and collective success reinforces a commitment to the organisational purpose. Singapore’s meritocratic cultural system, which values performance and results, often means that CEOs who reach the top in such an environment often do so through dedication and hard work, which naturally cultivates a strong attachment to their organisation’s purpose. They often see their role not just as a position of power but as a stewardship of the company’s long-term interests.

Thirdly, humility. The broader culture of Singapore tends to foster humility in its leaders as most born-and-bred Singaporean leaders have grown up in an environment where tolerance and inclusiveness have been ingrained. This typically lends itself to a style that champions a collaborative culture within organisations. It is especially important for CEOs taking over the reins to foster a collaborative culture, as forming strong relationships with the board and their senior leadership team are pivotal to the successful transition into their new roles. For example, our research found that the third most-common regret for CEOs around the world is the wish to have better engaged and collaborated with the board through transformation and change.

Also Read: Preparing for the unexpected: Succession planning and legal considerations for startup founders

Fourthly, geopolitical adeptness. Due to Singapore’s geographical situation and geopolitical sensibilities, there is also a tendency for Singaporean CEOs to better grasp the complexities of today’s multipolar world shaping business today. According to RRA’s Global Leadership Monitor, less than one in three leaders globally feel prepared to address geopolitical uncertainty, making geopolitical adeptness a much needed trait for CEOs as they are forced to take a proactive approach to manage geopolitical uncertainty today. This is where Singaporean CEOs typically have an edge over counterparts from elsewhere.

Finding new industry captains

The reality is that the CEO role is unique and has a disproportionate influence on so many lives. It’s never easy being a CEO, but those at the helm of global organisations today have it tougher than most. An aspiring CEO should get good support and counsel from people who have walked the CEO path before, and take advice on how to be successful, to avoid costly pitfalls and give themselves the best chance of success.

While Singaporean CEOs of global organisations remain a rare breed, there will undoubtedly be more of them in the coming years as we move into a multipolar world.

This article was co-authored by Miriam Capelli, Managing Director, C-suite Assessment, Succesion and Development, Russell Reynolds Associates. 

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