In her last role at Visa, Bhavana Ravindran helped clients implement digital payment solutions for consumers and SMEs. She realised that while consumer payment experiences have improved in recent years, small and medium enterprises (SMEs) are still stuck with outdated financial management tools.

“It wasn’t until I started my first business that I experienced the pain of this finance admin headache,” she tells e27. “My conversations with other founders revealed similar frustrations; many spend over 15 hours a week on various finance operations like payment tracking, bookkeeping, and logging receipts, as well as a lot of pain in year-end compliance reporting and tax filings.”

Existing tools were too complicated and old-fashioned because they were designed by accountants for accountants. Because of this, SMEs had to pay hefty sums to accounting firms to manage their admin stuff.

These insights led Ravindran to tackle this multi-billion dollar underserved market by founding a fintech startup. “Earlybird AI’s vision is to empower SMEs to spend less time on finance admin and more time on their customers,” says the founder and CEO.

Also Read: Earlybird AI secures Antler-led funding to simplify finance admin for SMEs

Ravindran is a serial entrepreneur who has founded two startups in the past- Chicago Booth Tech For Good and Dina. Previously, she spent eight years at Visa and held key roles, including Director (Digital Solutions and Product Co-creations).

Based in Singapore, Earlybird AI aims to make bookkeeping and financial admin tasks of SMEs painless, stress-free, and intuitive while giving real-time visibility into the business. The app also doubles as a CFO, transforming boring, low-value admin tasks into high-value insights, reports, and recommendations.

Essentially, Earlybird transforms routine bookkeeping into high-value insights. “We leverage the power of large language models (LLMS) to translate routine business payment events into automated bookkeeping ledger entries, financial reports, trends and analytics, personalised growth intelligence tailored to business persona profiles and recommendations to trim costs,” adds Ravindran.

The tech team spent months training LLM agents with a proprietary Retrieval Augmented Generation (RAG)-based architecture. “Essentially, every financial report can be deconstructed usng LLMs to tie back to the chart of accounts. By combining this business logic with the power of LLMs, we have a game-changing solution that removes much of the manual hassle in these reporting processes today. We have reached over 99 per cent accuracy in the last eight weeks of alpha testing,” she claims.

Just out of stealth, Earlybird — which won the Asia Startup Network Angels Arena pitch event earlier this month — claims it currently grows beta test users by 30 per cent week over week.

Earlybird mainly caters to solopreneurs and founders of early-stage startups and e-commerce firms. In her view, these personas’ financial reporting, compliance, and tax needs are similar in the early stages of operations, and tools like Earlybird enable them to be productive and deliver automation benefits.

The product is competitively priced compared with globally known solutions like Xero. In addition, Earlybird replaces the need for clients to spend more money on hiring accounting firms to manage admin and bookkeeping tasks.

Also Read: A new insights attitude for SMEs in the era of the ‘insights engine’

The fintech startup recently secured an undisclosed sum in a pre-seed funding round led by Antler with participation from several unnamed strategic angels. The money will help the venture accelerate its go-to-market and minimum-viable product release development and hire top-quality design, engineering, and AI talent.

“Founders build the future of our society, but they are currently overwhelmed by admin-heavy, poorly designed bookkeeping tools and low-value operational tasks,” she says.

“By taking on the multi-billion dollar SME accounting and finance admin industry, we can enable innovation and growth by enabling the founders to focus on what they do best – growing their business. Looking ahead, we will constantly evolve our product roadmap to deliver user-centric solutions executed using the latest AI innovations,” she concludes.

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On the first day of Expand North Star event, part of the GITEX GLOBAL 2024 event in Dubai, SOSV Founder Sean O’Sullivan dubbed climate change as an “urgent existential crisis for humanity” and called for the tech investor community to “make it work” through investments in climate tech.

He pointed out the increasing cases of air turbulence that have led to many injuries and even death, highlighting these incidents as a call to action to fight the impact of climate change.

“Air travels are generally safe, but not in the era of climate change,” he told moderator David Rowan, Founding Editor-in-Chief at WIRED UK.

“These events can make industries such as insurance go bankrupt unless changes are made; governmental and investment policies will flow into these areas to make sure that you have.”

But when it comes to starting climate tech investment, O’Sullivan recommended starting with the lowest hanging fruit first, without disregarding the impact of that investment.

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

“There are low hanging fruits that area. But there are also really, really long term effects that also need to be made. They need some sort of governmental backing, at least to the point where they are able to scale,” he explained. “Venture capital as an asset class is actually quite small, something like less than one per cent of the financial capital is deployed. Therefore we need to leverage other sources of capital. We are starting to see that happening.”

He further explained how SOSV backed around 70 companies each year. In specific areas such as the Future of Food, the firm has several companies that are already at around US$100 million in revenue, growing at 50 to 100 per cent in various aspects.

But for climate tech companies that are working in the area of deep tech, O’Sullivan warned that they need to go “up and ahead” as 2024 is not a year to fundraise easily.

“There are fewer number of companies getting funded per quarter. So, it is a challenging time, and it is also 80 per cent less capital going into other areas that are not General AI. A lot of those companies are taking away from other computing sectors such as climate tech; we see less capital development,” O’Sullivan said.

Considering that many climate tech projects can only see results in the long run, O’Sullivan stressed the importance for investors to “realign” their expectations.

“You are going to be looking at a 15 per cent annual profit or 20 per cent annual profit versus, if you are holding onto it for 10 to 12 years, you can be looking at 25 per cent instead. So, if you are looking a little longer, you can actually make even better profits.”

Also Read: Burning urgency: Why businesses must mobilise against forest fires and climate change

Another point that O’Sullivan stressed was the importance of reimagining different ways to produce the goods that we need today which he saw as where the low-hanging fruit is when it comes to climate tech investment.

“When you look at how long it takes to make a change, it took seven years to get just a million people to use street maps [that I created with my previous company]. But then, we looked at the iPhones and everything else that came out that enabled us to get into more places just another 13 years after that. Suddenly a billion people use it. So, we are already going to start this journey,” he said.

“We are already solving many parts of this challenge.”

Supporting climate tech investments through green bonds

At a separate panel discussion, Elvina Garayeva, Debt Director EECA Region at Incofin Investment Management, confirmed the increasing popularity of green bonds as one of the means to support climate tech projects, apart from venture capital funding.

“The statistics might vary, but we can certainly say that we have witnessed huge spikes in ESG funds and climate funds in particular, over the past years,” she stressed.

Also Read: Need of the hour: How agritech platforms can protect farmers from climate change

Climate bonds were initially promoted and advanced primarily by international development institutions, governments, and municipalities, often to fund large-scale infrastructure projects. Over time, the private sector became involved as well, recognising the opportunity presented by the growing investor awareness of climate change.

Today, climate bonds are in high demand as they align with the priorities of investors who increasingly seek sustainable and environmentally responsible investments.

“They want their money to be invested in something good for climate, for the people. So, the requirement comes from large and electronic investors such as pension funds or insurance companies. It also led to the fact that the markets started to structure this type of products more and more,” she stressed.

According to Garayeva, another important factors include regulatory push such as the recent COP28.

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OneCFO, an AI-powered financial management service platform in the Philippines, has raised US$500,000 in pre-seed funding from undisclosed angel investors.

The investment will be used to develop its suite of B2B financial management apps and hire people.

Also Read: AI will transform customer service, risk management in financial services: finbots.ai CEO

The startup has also appointed Joel L. Tan-Torres (JLT), former Chairman of the Philippine Board of Accountancy (BOA) and former Commissioner of the Bureau of Internal Revenue (BIR), to its Board of Directors.

OneCFO aims to provide CFO technology and expertise to small and medium enterprises (SMEs), startups, and scaleups in the Philippines. It has integrated cloud accounting systems, ERPs, payroll software, business intelligence, and other software into one platform.

Launched in 2022, the platform automates routine tasks and offers real-time finance insights that enable businesses to make data-driven decisions. It empowers accountants to shift from transactional roles to strategic advisors, helping businesses navigate complex financial landscapes.

In less than two years of operations, OneCFO claims to have served around 80 client engagements, processed millions of transactions and helped a dozen SMEs and startups get funded.

Its notable clients include SolX, NextPay, Kwik.insure, Toki, Advance, Colourette, OneLot, LabLog, JLabs, and AIQUE Innovation.

Also Read: Jack is here to help ease corporate financial management

It also partnered with local accounting-tech and niche ERP systems, such as Beppo, Britana, Stash PH, startup accelerators, VC firms, banks, and non-bank financial institutions.

“Bootstrapped in the beginning, we started everything manually – doing things that don’t scale which gave us tons of learnings and best understanding of the pain points of both SME owners and their accountants in this country. We’ve been profitable since our sixth month of operations and been reinvesting our profits to develop the platform. This pre-seed funding will definitely speed-up our development”, said OneCFO’s founder and CEO Jay Olos.

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It’s been ten years since Japan implemented its mandatory Stress Check system in a bid to tackle the longstanding public health crisis tied to overwork and karoshi — a term meaning death by overwork. Introduced in 2015, the initiative was aimed at identifying high levels of stress among employees, requiring companies to survey their workforce on mental health annually.

Yet, despite these efforts, recent data reveals a disturbing trend: work-related mental health issues, particularly among younger workers, are getting worse.

According to surveys, employees under 30 are reporting increased levels of anxiety, depression, and burnout. Experts say that these numbers might only scratch the surface, as they don’t account for the many workers who refrain from disclosing their struggles due to the persistent stigma around mental health issues in the workplace. This hesitation is particularly pronounced in traditional corporate cultures, where workers often fear that admitting mental health challenges might lead to career repercussions or be seen as a sign of weakness.

NTT-AT Partners with Kintsugi for a Data-Driven Mental Health Solution

In response to this deepening crisis, NTT Advanced Technology (NTT-AT), the division of Japan’s leading telecommunications company NTT, has formed an innovative partnership with US-based mental wellness startup Kintsugi. This collaboration aims to shift how companies in Japan approach mental health, leveraging artificial intelligence (AI) to more accurately assess the psychological well-being of employees.

Kintsugi’s AI-driven solution, unlike the traditional Stress Check surveys that rely on self-reported data, analyses short voice clips in real-time to screen for signs of anxiety and depression. This advanced technology uses vocal biomarkers to detect subtle changes in speech patterns that may indicate mental distress. By offering an objective, data-driven method, Kintsugi enables NTT-AT to identify employees at risk of mental health challenges more effectively, without relying on potentially biased or incomplete questionnaire responses.

Toward a more personalised approach to mental wellness

“Stress Check questionnaires are often filled out in haste or even skipped altogether. Some employees might not feel comfortable being fully honest about their mental state,” said an NTT-AT spokesperson. “With Kintsugi’s technology, we can eliminate that subjectivity and focus on providing personalised support to each individual based on their unique mental health needs.”

Also Read: 5 ways leaders can use the power of allowing to manage stress and enhance focus

This partnership could mark a significant turning point in how Japanese companies manage workplace stress and mental wellness. While the Stress Check mandate was a necessary first step, the collaboration between NTT-AT and Kintsugi acknowledges that a one-size-fits-all approach is no longer sufficient for the complexities of today’s workplace mental health landscape.

A new era of mental health awareness in Japan’s corporate sector?

As Kintsugi continues to expand its AI capabilities, companies in Japan may begin to see a more nuanced understanding of their employees’ mental health. With mental wellness becoming an increasingly crucial part of workplace culture globally, initiatives like this could pave the way for more data-driven, individualised approaches that not only improve employee well-being but also enhance productivity and organisational morale.

However, the challenge remains: will the adoption of such advanced technologies be enough to break the stigma surrounding mental health in Japan’s corporate sector? While tools like Kintsugi can provide a clearer picture of an employee’s well-being, it’s up to companies to foster an environment where addressing mental health is not just encouraged but fully supported.

As Japan reflects on the past decade of mandatory stress checks, it’s clear that addressing workplace mental health is an ongoing journey—one that requires continuous innovation, cultural shifts, and most importantly, empathy.

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Brand storytelling is crucial if companies want to create a cohesive message to their audience. Good storytelling can invoke a response, but great marketing requires sending a message that transcends into brand loyalty. The difference between the two ultimately boils down to how compelling your brand storytelling is in reaching your audiences.

As startups grow across markets, creating a unified campaign with different types of audiences can be daunting. Larger companies have the luxury of trial and error. However, with limited resources available, startups have to be more strategic in communicating their product to new markets.

Applying the 5C’s of effective storytelling

Effective storytelling can follow a format regardless of use. Whether it is copywriting for social media use, telling your fundraising story, or convincing stakeholders of your business’ value, founders can apply the formula for compelling storytelling, applying principles on building Character, Context, Conflict, Climax, and Closure.

Your character would be your target segment, and giving context on their current background would include existing trends you see in their behaviour. Conflict allows the reader to flesh out the problem you are trying to solve, and the climax generates the light bulb moment that makes your solution stand out from the rest. Lastly, landing a deal can also boil down to how you reach the conclusion or the closure. Typically, if enough emotions were evoked from your storytelling, a successful closure would highlight and summarise the desired result and build your customers’ loyalty.

This format serves as the blueprint, and the devil is in the details. Here are some tips and tricks to supplement your overall messaging.

Make sure to highlight individual customer stories

One of the more successful campaigns tried and tested by brands is to underline “before and after” case studies and narrate how they achieved customer success. This strategy helps establish an inclusive connection between your local and regional markets, as new potential customers see their user journey mirrored and solved with this narrative. 

Also Read: Mastering LinkedIn: Strategies for building a compelling personal brand

This strategy requires brands to feature honest client video testimonials. As a startup, this is more effective in gaining trust and boosting your company’s reputation. Given the plethora of online information, providing honest reviews signifies a culture of straightforward feedback from your users and encourages the savvier customers to recommend you to their networks. In the end, responsible messaging promotes authenticity that allows for deeper connections.

Showcase a genuine connection with the market you are expanding to

Being factual about your success can only get you so far, but there are other ways to evoke deeper emotions that allow for a more genuine connection. For startups that aim to create impact, understanding their audience’s stories and turning them into homegrown heroes would illustrate a better narrative. 

For example, a Philippine-based ride-hailing service called Angkas created a campaign highlighting its motorbike drivers’ inspiring stories featuring resilience and determination. The campaign crafted a beautifully packaged narrative that appealed to the mass market and proved Angkas’ loyalty to its stakeholders. 

Real stories can come from clients, employees, and other evangelists who feel passionately about the company’s mission and culture. Storytelling feeds into people’s innate curiosity to learn more about other people’s lives and become the best reference materials for capturing the right audience. The impact of these narratives ensures that the people who resonate with it get to believe in what the organisation is about and try to experience what the company has to offer for themselves.

Lastly, when hiring local influencers and partners, emotions must be cultivated, as they are your most significant currency with your audience. As these people are extensions of your brand, you must spotlight authenticity and be more particular that their values and past content align. 

Also Read: Brands as forces for change: Shaping the future through purpose

Spending money on influencers and partners with significant followings is easy, but ensuring quality more than quantity is trickier. This can be checked based on engagement and other metrics, but as proven by past failed startups, overspending on influencer marketing without a strategy can lead to your burn rate heading for a crash. 

The pros can easily outweigh the cons if done correctly. For one, researching before expansion and outlining a stakeholder map can help the company determine the right partners who will help bridge them to the regional markets. An influencer in Indonesia, for example, would know better how to reach online users and can help navigate the nuance and complexities of local behaviour than someone more famous in Malaysia.

Another priority to emphasise authenticity is to create a diverse “Story Bank” focused on inclusivity. A “story bank” is a collection of stories from customers and partners that would humanise the brand. As writers usually advise, it is always better to “show rather than tell”.

For example, a brand focused on the mom customer segment can highlight their customers’ journeys from different backgrounds. Their needs may be similar, but each mom could share a unique perspective, further demonstrating why the brand is a success. Creating a story bank that can be shared across marketing channels would communicate a culture celebrating diversity, showing their audience that the company values and supports it. 

In the end, effective storytelling is universal. The key to doing so is to use your existing resources—your relationship with your customers—as case studies as you convert your new audience into paying customers. 

A landscape as diverse as Southeast Asia provides multiple opportunities for company growth, and connecting with each market would require a universal message signalling authenticity and commitment to your stakeholders. 

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In today’s fast-evolving business landscape, digital marketing has become the driving force behind successful brand strategies. Yet, many traditional marketers still lag in adopting these essential skills. As someone who’s worked with several marketers from traditional backgrounds, I’ve observed that the gap between the old and new marketing worlds is widening.

To stay relevant, it’s crucial that traditional marketers continually learn and adapt to the digital marketing ecosystem. Here are three vital skills every traditional marketer must master:

Master Google Analytics 4 (GA4)

Data-driven decisions are the backbone of digital marketing, and GA4 is the latest tool you must master. Unlike its predecessor, GA4 offers more advanced features, including cross-platform tracking and predictive insights. It helps marketers get a clearer picture of user journeys across websites, apps, and beyond.

If you’re still relying on basic metrics like impressions and page views, you’re missing out on valuable information that can boost your campaigns. By understanding how GA4 works, you can refine strategies based on real user behaviour, optimising everything from traffic sources to conversions.

Understand media buying and advertising costs

One common issue I’ve seen with traditional marketers transitioning into digital is the lack of understanding of media buying. In the digital realm, advertising isn’t just about placing ads on TV or billboards—it’s about real-time bidding, cost-per-click (CPC), and return on ad spend (ROAS).

Also Read: Tried-and-tested marketing strategies for startups across all stages in Singapore

Traditional marketers need to get familiar with these key metrics and platforms like Google Ads or Meta Ads. Understanding how much you’re spending, what your potential return is, and how to adjust bids in real-time are crucial for running efficient campaigns. Being well-versed in media buying will help you stretch your advertising budget further and optimise for higher profitability.

The impact of creative ad formats on performance

In the past, marketers could rely on a catchy tagline or a well-designed print ad. Now, the digital marketing world demands much more flexibility and creativity. Different ad formats—whether it’s video ads, carousel ads, or static banners—can yield dramatically different results depending on the platform and audience.

Creative assets have a direct impact on how well your campaign performs. A static image might work wonders for one audience, while an interactive video might be better suited for another. The challenge is understanding which formats work best in each scenario. Traditional marketers need to grasp the nuances of digital ad creatives and optimise for engagement and conversions.

Conclusion: Keep learning with free resources

The good news is that traditional marketers can acquire these digital skills through accessible, free online courses. Here are some top resources to kick-start your learning:

• Google: Get certified in GA4 with their free Google Analytics Academy.
• HubSpot: Offers a range of free digital marketing certifications, including media buying and creative strategy.
• LinkedIn learning: A great platform to explore digital marketing topics, including creative ad formats and performance optimisation.

In today’s fast-paced marketing world, continual learning is no longer optional—it’s essential. By mastering these skills, traditional marketers can confidently navigate the digital landscape and stay ahead of the competition.

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Techsauce Global Summit 2024 in Bangkok is one of the largest tech hubs in Southeast Asia (SEA) with over 18,000 visitors from 60 countries worldwide. The event served as an important gathering for the tech community under the mission to establish Thailand as the Digital Gateway of SEA.

Hong Kong Science and Technology Parks Corporation (HKSTP) is the largest innovation and technology ecosystem in Hong Kong. It debuted by showcasing 14 of its most promising startups in the Hong Kong Pavilion in Techsauce, attracting an impressive 4,000 visitors. Featured startups include market-ready innovations such as Large Language Models (LLM), Blockchain, and AI integrations for digital marketing, e-commerce, and personal care.

Notably, renowned corporations from various sectors—including the world’s second-largest card payment organisation, an eminent life and health insurance and asset management company, and a renowned real estate developer, among the few—visited the startups to explore valuable connections and potential collaborations. Some startups have successfully established partnerships with local organisations to expand their market coverage, while others are closing deals with corporate customers for further collaboration.

Martech startup unlocks potential deals at Techsauce

After catching up with two of the showcased startups, the summit has proven itself as the perfect platform for HKSTP startups to gain visibility and engage with key industry players.

On-us, one of the exhibiting startups, received the prestigious “Techsauce Innovation Award 2024” at the Summit.

Also Read: PriyoShop launches Bangladesh’s first MSME credit card with LankaBangla and Mastercard

On-us is a fintech and martech incentive platform (PaaS) that empowers businesses to elevate customer loyalty engagement through data analytics and AI. Offering unparalleled flexibility, the platform allows marketers to customise voucher face values, design brand-aligned vouchers, and adopt a pay-upon-redemption model that ensures every dollar counts. For consumers, the platform provides a variety of redemption options, allowing them to choose from a wide range of merchant partners with personalisation.

“On-Us is designed to empower marketers by simplifying the process of finding and utilising incentives,” Honnus Cheung, Co-Founder and CSO of On-us shared. “We provide a seamless, AI-driven solution that not only enhances customer engagement but also delivers valuable data insights that marketers can use to refine their strategies.”

On-us captured the attention of multinational companies at the Summit, showcasing its innovative solutions that resonate with industry needs. Excitingly, they are on the verge of signing a deal with one of the largest insurance firms and a prominent multinational insurance company in Thailand, marking a significant milestone in their growth and influence within the sector.

Powered by advanced data analytics and AI, On-us delivers deep consumer behaviour insights, enabling businesses to make informed decisions and enhance customer loyalty. Their platform enables marketers to tailor their offers more cost-effectively, which is essential given that On-us earns based on a performance model.

3D scanning startup leverages SEA’s huge potential

Another startup, Scan the World Limited, focuses on 3D scanning technology that allows users to convert videos taken with a smartphone into 3D models. This technology is primarily deployed in retail, consumer lifestyle, and e-commerce, enabling clients to scan physical environments and products and create immersive, 3D websites that mimic physical spaces. The company’s platform allows users to interact with 3D models within a virtual city, where multiple stores can be visited seamlessly.

Also Read: KINTO boosts brand engagement and ROI with Omnichat

Founder Eugene Mak explained, “We let our clients 3D scan the physical environment and their products and build the 3D website the way they build the physical space.”

Their unique approach enhances the shopping experience and integrates social interactions in a virtual environment. Emphasising the platform’s potential, Mak stated, “It’s a multiplayer virtual city website traffic sharing platform, and it’s user-generated.” The idea stems from Mak’s desire to capture the essence of exploring local cultural flavours in foreign cities.

Developing a mobile browser-based solution posed significant challenges, especially optimising low-end devices’ graphics. Mak noted that “a lot of work went into optimising the backend,” which included improving how the platform uses the GPU and other resources to ensure smooth performance. These efforts were crucial in overcoming mobile devices’ hardware limitations, making the technology friendlier to the retail and lifestyle spaces, wherein customer experience has to be more intuitive.

Recognising Techsauce’s influence in their plans, Mak cited SEA and its “huge potential” for company growth. Looking ahead, Scan the World Limited aims to secure funding to develop its platform further, make it robust enough for large-scale marketing, and capture a significant market share.

Mak envisions achieving 500,000 active users within a year and “[capturing] a big chunk of the market.” The company aims to lead in this “blue ocean strategy” by being the first to market in a new and unexplored domain.

Hong Kong as a launchpad for scaling up and expanding market reach

Speaking to e27 at Techsauce 2024, Derek Chim, Head of Incubation and Acceleration Programmes at HKSTP, detailed the organisation’s ambitious strategy to extend its influence and foster innovation across SEA. With a focus on startups, HKSTP is not just an incubator but a “growth partner” renowned for its comprehensive support system worldwide.

Also Read: Revolutionising sourcing and procurement with AI: Sourcefy’s vision

“We believe that exposure to global markets is crucial for the success of our startups,” Chim emphasised. “By participating in events like Techsauce, our startups can ‘go global’ and showcase their technologies to overseas audiences, attract potential investors, and forge partnerships [to] help them expand internationally.”

He further emphasised that their value-add to startups lies in servicing key challenges during global expansion, including rapid tech build, effective go-to-market strategies, successful fundraising, and efficient team scaling.

Their success is evident in the traction gained by many of its alums. For instance, Cheung explained that On-Us is actively looking to scale its business across SEA, particularly in markets with a growing young population, such as Thailand, Indonesia, and Vietnam. The company has already seen success in Hong Kong, Taiwan, and Malaysia and is now focusing on partnerships with banks and insurance companies in these new markets. This regional expansion is a testament to the effectiveness of HKSTP’s global strategy.

Beyond the event, HKSTP has launched vital global initiatives to aid startups. Chim noted that HKSTP supports 800 to 1,000 startups in Hong Kong each year. Given Hong Kong’s small market, “It’s very important for them to actually go global,” said Chim, highlighting the need to enter markets such as Thailand, with its “really robust startup ecosystem” and strong government support.

The future of HKSTP’s global vision

HKSTP is actively reaching out to the international innovation and technology (I&T) ecosystem to attract startups and introduce Hong Kong as a springboard for expansion. As they grow, HKSTP companies gain opportunities to collaborate with organisations in 28 countries, including major markets such as Mainland China, the UK, and the US.

Also Read: OceanBase INFINITY: Empowering Indonesia’s digital economy

Currently, HKSTP’s HK Sandbox Programme is accepting applications for its next cohort of startups looking for support as they launch in Hong Kong. Their successful Cohort 1, launched in 2023 with eight Thai startups, enabled them to understand the landscape and expand market coverage, now being part of the HKSTP’s Ideation programme for further expansion in Hong Kong, Mainland China, and beyond.

Looking ahead, HKSTP plans to expand its reach even further, supporting startups in markets such as Japan, where major events such as Techsauce will provide additional opportunities for global exposure. As HKSTP continues to drive the growth of Hong Kong’s tech startups, its unique approach to incubation—centred around global expansion—will undoubtedly remain a critical factor in its success. By continuing to provide startups with the tools and opportunities they need to succeed internationally, HKSTP is shaping the future of innovation in Hong Kong and beyond, and strengthens Hong Kong’s position as a global innovation hub. For more information on their programmes, visit their website.

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This article is produced by the e27 team, sponsored by Hong Kong Science and Technology Parks Corporation (HKSTP).

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Singapore-based fintech startup Earlybird AI, which aims to make bookkeeping and financial admin tasks of small and medium-sized enterprises (SMEs) painless and stress-free, has emerged from stealth with a pre-seed funding round led by Antler.

Several unnamed strategic angels also participated.

Also Read: A new insights attitude for SMEs in the era of the ‘insights engine’

“The capital will help us accelerate our go-to-market and minimum viable product release development and hire top quality design, engineering, and AI talent,” Bhavana Ravindran told e27.

Founded by Ravindran, a serial founder and former digital executive at VISA, Earlybird AI has developed a mobile app to make business finances and accounting painless and intuitive while giving real-time visibility into the business. The company claims the app also doubles as a CFO, transforming boring, low-value admin tasks into high-value insights, reports, and recommendations.

Earlybird’s vision is to empower SMEs to spend less time on finance admin and more time on their customers.

“Founders build the future of our society, but they are currently overwhelmed by admin-heavy, poorly designed bookkeeping tools and low-value operational tasks,” she added. “By taking on the multi-billion dollar SME accounting and finance admin industry, we can enable innovation and growth by enabling the founders to focus on what they do best – growing their business.”

Also Read: Small steps, big impact: How SMEs can champion ESG initiatives

The fintech startup claims it currently grows beta test users by 30 per cent week over week.

Earlybird AI won the Asia Startup Network Angels Arena pitch event earlier this month.

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International Built Environment Week (IBEW) 2024, held at Marina Bay Sands, Singapore, represents the most comprehensive arena in Asia for showcasing groundbreaking construction technology (ConTech) innovations across all stages of the building lifecycle.

As the largest innovation and technology (I&T) ecosystem in Hong Kong, Hong Kong Science and Technology Parks Corporation (HKSTP) has long been dedicated to nurturing I&T startups between Hong Kong and Southeast Asia (SEA). The organisation is instrumental in helping these startups explore and expand into new global markets, with Hong Kong serving as their launchpad.

This year, HKSTP took significant steps by leading 14 innovative partner companies to IBEW 2024 by showcasing their pioneering ConTech solutions at the HKSTP Pavilion at the Build Environment Expo (BEX Asia) of IBEW. Nearly 2,000 potential buyers and investors visited the Pavilion, which features market-ready and emerging ConTech advancements. These include construction robotics, AI-powered safety systems, smart building solutions and sustainable technologies.

Through initiatives like these, HKSTP continues to position itself as a critical player in Hong Kong startups’ international expansion journey. Desmond Lee, Minister for National Development of Singapore, visited the HKSTP Pavilion to learn more about the ConTech innovations developed in Hong Kong. His engagement highlights the potential for collaboration in the construction technology sector and underscores the importance of fostering international partnerships to drive advancements in the construction industry. Leading organisations in property management, construction and engineering, and banking also visited the HKSTP Pavilion to learn more about the latest ConTech from Hong Kong.

Also Read: Hong Kong I&T startups gear up in Thailand for global growth

Hong Kong’s Digital Twin startup at the forefront of ConTech innovation

Hong Kong has increasingly become a hub for cutting-edge technologies, particularly in the ConTech sector. Startups in this space are developing groundbreaking solutions that address some of the most pressing challenges in the built environment, including energy management, automation, and sustainability.

One such company, Neuron Digital Group, a groundbreaking joint venture between Arup and Venturous Group, is transforming the built environment through innovative smart building technology. Initially incubated by Arup, Neuron combines AI, Digital Twin technology, and big data to optimise building operations, enhance energy efficiency, and improve tenant wellness. Headquartered in Hong Kong, Neuron is rapidly expanding, driving the shift toward sustainable, digitally integrated smart cities across the globe. This platform is critical to achieving net-zero goals and setting new standards in smart city infrastructure.

Neuron offers modular solutions that can start small and expand based on the client’s needs. Serena Pau mentions that this approach appeals to building owners, “We don’t force the buyer to buy a huge platform because we understand very often building owners want to start small.”

Currently, Neuron’s technology is primarily deployed in Hong Kong, where it has been implemented in over 200 buildings in just two years of operations. Neuron has some projects in Thailand, but Pau mentioned that “[Neuron] is ready to go to Singapore as a stepping stone and then hopefully [the rest of] SEA.”

HK’s robotics ConTech solutions capture the spotlight

Similarly, the Hong Kong Center for Construction Robotics (HKCRC) from InnoHK showcases its award-winning rebar-tying robot. Equipped with autonomous identification and positioning, automatic obstacle avoidance, and automatic column change, the robot can fully automatically complete the tying work across large areas at the centre of the steel mesh.

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Dr Liang Haobo highlights HKCRC’s commitment to providing advanced technological solutions: “We use different kinds of robotics to help construction workers achieve safer, faster, and more efficient construction.” While currently focused on construction, HKCRC aims to expand its robotic technology to related industries “[such as] logistics and health.”

HKSTP’s foray into the SEA market is helping HKCRC’s efforts for commercialisation, as they “see more opportunities to explore in the overseas market before the year ends.” The latter actively seeks collaborations in the Asia Pacific region, particularly SEA, where Dr Liang claims to “showcase a strong demand for high-quality construction and technology solutions.”

These examples highlight Hong Kong startups’ relevance and potential to address global challenges in the construction industry, which has been made possible through HKSTP’s efforts to engage potential partners and customers in SEA.

HKSTP as an effective launchpad for global expansion

HKSTP’s participation in IBEW 2024 underscores its commitment to bringing Hong Kong startups to the global stage. The organisation plays a crucial role in facilitating the international expansion of these startups by leveraging its extensive network of corporate partners, investors, and industry stakeholders. This year’s event served as a strategic stepping stone for startups to explore and enter the SEA market, particularly Singapore, which is emerging as a critical hub for innovation in the built environment.

During the event, Filla Mak, Chief Operations Officer of HKSTP, articulated this mission: “We are delighted to showcase solutions from our partner companies on such a prestigious global stage. The tradeshow perfectly aligns with our mission to propel the commercialisation of groundbreaking technologies that anticipate the future needs of urban environments. By participating in IBEW, we [highlight] Hong Kong’s robust R&D capabilities and [foster] significant partnerships that extend our reach into SEA and beyond.”

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HKSTP’s strategy goes beyond showcasing technologies; it involves actively facilitating partnerships and collaborations that can drive the adoption of these technologies in new markets.

Neuron’s Pau commends their experience with “HKSTP [being] instrumental in helping Neuron expand internationally by connecting us with overseas markets, providing PR exposure, and offering funding. HKSTP acts like a “virtual parent” for startups.

SEA: A promising destination for HK startups

SEA is rapidly emerging as a promising destination for tech startups from Hong Kong, particularly those in the ConTech sector. With its stable business environment and strategic location, Singapore serves as an ideal entry point for these startups to explore the broader SEA market.

The success of these efforts is evident in the recognition of two other startups, Ailytics and FJDynamics, who participated at the ConTech Summit through a solution showcase and engaging elevator pitches.

Ailytics garnered the highest number of votes from the judges and was honoured with the Most Popular Startup Award. At the same time, FJDynamics received the Most Creative Startup Award for their outstanding presentation.

This recognition further highlights the effectiveness of HKSTP’s initiatives and underscores the growing synergy between Hong Kong and SEA in the ConTech field.

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This article is produced by the e27 team, sponsored by Hong Kong Science and Technology Parks Corporation (HKSTP).

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It is a perilous journey for an entrepreneur, especially for the inexperienced. There are no straightforward ways of building a business, as dynamics change very often in a complex business environment.

I know this, as I too was a young inexperienced startup founder 19 years ago, during the early dot-com era. Whatever I tried applying what I learnt in business school always fall short of success. I failed to understand the nuances of running a business.

Unfortunately, schools only teach the science of business, but fail to talk about the art of business, from culture, negotiations, hiring or real-life understanding of how businesses actually work.

The need for startup mentors to boost your entrepreneurial journey

It is without a doubt that any entrepreneur should and must find mentors in their journey. This is to help fill up the necessary gaps, offer a different perspective and provide impartation of business lessons so that you will not be doomed to repeat history.

I was blessed to have five mentors in my startup life. They imparted to me intangible skills, knowledge and values that now remain part of me as I run my businesses and venture fund.

But while saying this, I had the unfortunate experiences of having others who claimed to be ‘mentors’ but ended up taking advantage of my relationship with them. I also found similar experiences faced by entrepreneurs where that their startup mentors were falling short in a few aspects.

Also Read: Fantastic tech co-founders and where to find them

From the feedback I have collected and from personal experiences, here are some ground rules of what you should expect to have in a startup mentor, and reconsider the relationship if he falls short.

They guide, not dictate, how you run your company

A mentor has no executive power or any involvement in your startup. It is a third-party who uses his experience and knowledge to provide suggestions and direction to the entrepreneur.

I recalled having a mentor who was a driven man but forgot that he doesn’t own my company. In his sessions, I found him dictating and telling me what actions I must do, otherwise, he would not continue mentoring me. I ditched him. Down the road, I found out he was manoeuvring me with the intent to get me to offer him shares and claiming he did the work to build my company.

Only you, the entrepreneur, should make your own final decisions, in particular to the early stages of startup development. The moment you find your mentor coercing or making decisions for you, it is time to rethink the relationship.

They are not paid, so reject those who want compensation

TRIVE runs the NEXT50.sg initiative, which has over 70 startup mentors offering free mentorship to Singapore entrepreneurs. Bottom line: they don’t get paid.

This is the utmost principle of being a mentor, is that he wants to give back to society by helping others freely.

This only changes if the job role has changed to a commercial nature, for example, you are engaging your mentor to do some consultancy work. If it changes to that, ensure you have a contractual agreement. It is also a reconsider to find others to be your mentor.

So, do not offer sweat equity or payment for the mentorship. The dynamics changes. No matter how grateful you are, never bring up the topic of remuneration. Rather, pay-it-forward and help others, because that what your mentor was doing.

They are more than just a friend; they focus on you objectively

A startup mentor is not just a person whom you banter and gossip with, but a person whom you account to on your startup progress. A mentor is objective-driven, to see ways which you can grow your business.

Also Read: How to identify if you’re ready for a rebrand

As a mentor myself, I usually set objectives for the session and end off with a summary of follow-up actions that the entrepreneur needs to work on. Only in this way can you see the value in mentorship.

They listen and stop their humblebrag

One entrepreneur shared with me his personal experience meeting a particular mentor, who spent more time boasting about his accolades and achievements, without even trying to listen to his needs.

Effective mentors are those who listen intently to the entrepreneur to gather sufficient understanding. From there, he uses his prior experiences to guide and impart lessons to the entrepreneur.

If you have a windbag for a mentor, your time is better spent elsewhere finding others.

They go beyond business and understand you as a person

Every entrepreneur is unique, with her own quirks, character, strengths and weaknesses. Businesses can be somewhat similar in nature, but not entrepreneurs.

Effective mentors are those who take the trouble to understand you, and where your dreams and goals are. This is important so that they can offer suggestions that are suited towards your character, rather than leading you down a road you feel uncomfortable about.

To me, the best mentors are those who care for you deeply, as they are like a parent to you. Because those are the ones who provide you with the encouragement when you are down. I personally do that to my startup mentees, because when they succeed, I gain the satisfaction that my mentoring produced value.

They keep information confidential and do not abuse it

A relationship between mentor and entrepreneur is a privileged one. Information has to be kept in utmost confidence. Even terms sheets and negotiations which are deemed sensitive should never be shared, and more importantly, not lead to exploitation or blackmail.

Also Read: 7 common legal pitfalls startup founders should avoid

Abusing the trust is likened to that of a breach of doctor-patient confidentiality. I always advise entrepreneurs to take the time to get to know the mentor first before entrusting him with too much confidential information.

Ending thoughts

As I end this article, finding a great startup mentor with relevant experience and one who also cares for you to see you succeed without strings attached is a challenge. But then again, it is worth seeking out the right one to walk with you on your journey.

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This is part of the “Startup Advisories” series, where I share pertinent issues faced by startup entrepreneurs. The NEXT50.sg initiative is a pro-bono network of startup mentors who support Singaporean entrepreneurs in their startup journey.

Image Credit: stockbroker / 123RF Stock Photo

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This article was first published on May 4, 2018

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