Coolmate, a direct-to-consumer (D2C) men’s apparel brand in Vietnam, has completed its Series B funding round, led by Vertex Ventures Southeast Asia & India.

The investment will accelerate the startup’s international expansion, product innovation and omnichannel retail presence across Southeast Asia.

Also Read: Why Vietnam is the next big thing for startups and corporate partnerships

Founded in 2019, Coolmate specialises in “high-quality and affordable” apparel. It provides a diversified product range, including activewear, casualwear, and underwear, in partnership with top export-driven factories.

Coolmate innovates with eco-friendly materials like organic cotton, recycled fibres, and the latest eco-friendly production processes, such as clean dye technology. This resonates with Vietnam’s youth, many of whom are eco-conscious consumers.

Pham Chi Nhu, CEO and Co-Founder of Coolmate, said: “From day one, we’ve been driven by a mission to build a responsible business that positively impacts not only its customers but also its employees and society. At Coolmate, we are highly committed to reducing our environmental footprint whilst providing durable, stylish and comfortable clothing for modern consumers. These have always been our core values from the beginning.”

Vietnam’s domestic apparel industry is valued at US$6.4 billion, fuelled by favourable macroeconomic conditions and shifts in consumer behaviour. The fast-growing middle-class consumer segment strongly prefers quality and customer service. They are ESG-conscious and looking for affordability.

Also Read: VPCA to boost Vietnam’s investment landscape with US$35B private capital target

Vertex Ventures Southeast Asia & India is a leading early-stage venture capital firm that partners with high-growth startups across Southeast Asia and India. With a strong network and strategic expertise, it has invested in successful companies like Grab, Nium, FirstCry, and PatSnap.

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Technology has transformed almost every aspect of our day-to-day lives, from our work and house chores all the way through to entertainment. It has also strongly influenced our behaviour as consumers, changing our decision-making and buying habits.

One of the key technologies that are impacting consumer behaviour today is the adoption of live commerce and shoppable short videos. Businesses are beginning to recognise the importance of engaging their customers across multiple channels and driving higher consumer satisfaction through the use of live streaming and video technology.

In fact, a 2022 study showed that e-commerce platforms experienced a 115 per cent increase in orders from live streaming alone after a large influx of digital consumers from the APAC region. Furthermore, this trend isn’t going away any time soon.

According to a report by Andreessen Horowitz’s a16z, live shopping is expected to triple in revenue by 2026 and account for 20 per cent of all e-commerce transactions. 

So what makes live commerce so impactful and effective? The simple answer would be that consumers are looking for “shoptainment”, or an experience that goes beyond a simple purchase and includes personalised and entertaining features to the shopping journey. As  Andreessen Horowitz described, “It’s not just a transaction. Consumers seek out personalised and entertaining shopping experiences.” 

Also Read: The thrills of online shopping: Exploring Vietnam’s e-commerce haven

There are a handful of key reasons why live commerce is so effective, as shoptainment can be many things, and it certainly brings together several aspects and strategies to meet modern consumers’ demands, such as:

Personalised shopping

Through data analysis and machine learning, technology helps businesses to better understand their customers’ preferences and shopping behaviour. Businesses are then able to offer personalised recommendations and promotions, which can improve the overall shopping experience for consumers.

Therefore it is imperative, in my opinion, for businesses to gain access to first-party data as much as possible. This will enable them to accurately create shopper personas and push relevant content and information. With such personalisation and great sales mechanics, sales conversion would naturally follow.

Instant access to real-time information

At present, the world wide web makes it easier for consumers to research products and services before making a purchase. Consumers can read reviews, compare prices, and research the features and benefits of products online.

However, with the power of live streams, businesses are now able to replicate an almost identical in-store shopping experience virtually. Consumers can ask questions in real-time and live sellers are able to answer them immediately.

Features of the products can be demonstrated, and consumers can make purchasing decisions almost instantaneously. With information at their fingertips, consumers can then make a decision quickly, improving the conversion rates of a live stream.

The possibilities of future technology

The final reason is that technology has endless capabilities. From virtual hosts to metaverses to NFTs, consumers are now being introduced and exposed to various forms of these technologies within the live commerce space. These advancements will eventually be geared towards building a more engaged consumer market who are more loyal and would like to purchase products repeatedly.

It is this final reason that suggests to me that the live commerce space will continue to develop at a rapid pace. Looking ahead, there are plenty of interesting technological developments that would potentially change the meaning of consumer engagement in the years to come, such as augmented, virtual and extended reality (AR, VR, and XR), virtual hosts, and artificial intelligence.

Also Read: 3 success tips to help e-commerce businesses unlock online success

When it comes to AR, VR, and XR, these technologies allow consumers to see how a product would look on them or in their space before they make a purchase. This changes the entire live streaming experience, where consumers can now do virtual try-ons or “walk” into a store to browse the catalogue in a live stream. This creates an immersive and engaging consumer experience. 

While virtual hosts are typically computer-generated characters that serve as hosts or co-hosts of the live stream, they take a variety of forms, from simple characters to more complex avatars that use machine-learning algorithms to mimic human behaviour and conversation.

They can be customised to fit the style and tone of the live stream and are able to interact with the audience through chat or other forms of online communication. In addition to this, they can operate 24/7 and can be replicated across multiple platforms and streams at the same time. 

Of course, artificial intelligence has been a buzzword for many years, but it is only now, with the rise of ChatGPT, that we can truly witness the power of AI far and wide, and this, I believe, will be a game changer in the industry.

The power of AI to extract, consolidate, and process key vital information about a consumer would be important for businesses to be able to curate more meaningful and impactful content to convert them into loyal and paying customers. With the abundance of data that is prevalent in a live stream, businesses must harness the power of AI to gain an advantage over their competitors in the space. 

In conclusion, while the adoption of live streaming as a powerful tool for brands looking to connect with their audience and build trust and loyalty is gaining momentum, the technology surrounding the ecosystem is developing fast and moving ahead of the innovation curve.

It is imperative for brands and businesses exploring live commerce as part of their product offerings to partner with solutions providers who are able to understand their requirements and bring in insights from having worked with hundreds of implementations globally.

This way, brands across the globe can ensure they are meeting modern consumers’ demands as well as integrating the top technological trends to stand out and keep clients coming back for more.

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This article was first published on April 10, 2023

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The student debt crisis is a financial burden that millions of people continue to grapple with worldwide. In the US alone, student loan debt stands as one of the largest categories of consumer debt, with more than 42 million people owing over US$1.7 trillion.

As tuition fees continue to rise and federal relief programs face political and legal roadblocks, students and recent graduates are being saddled with financial obligations that impact every aspect of their lives — from career choices to buying homes, starting families, and even mental health.

The struggle of student debt

The student debt crisis has far-reaching consequences, especially for low-income and minority communities. Studies show that the financial burden disproportionately affects racial minorities, with Black and Latino borrowers facing higher average loan balances and default rates. One of the most significant consequences of student debt is its impact on economic mobility.

Graduates with large amounts of debt are often forced to take higher-paying jobs in sectors they’re less passionate about, as opposed to lower-paying public interest positions that align with their skills and values. This phenomenon, commonly referred to as the “public interest penalty,” stifles innovation and limits career flexibility.

Recent attempts at federal student loan forgiveness, such as President Biden’s proposed US$20,000 relief plan, were thwarted by legal challenges, leaving millions of borrowers in limbo. Despite these setbacks, there are other relief programs like the Public Service Loan Forgiveness (PSLF), which offers debt forgiveness for workers in public service fields, though poor implementation in its early years left many qualified borrowers unable to access its benefits.

The Biden administration has made efforts to revamp these programs, offering over US$175 billion in total debt cancellation for nearly five million people since 2021 , but the reality is that for many, this isn’t enough.

The role of edutech in tackling the student debt problem

As student debt continues to rise, the role of edutech companies becomes more critical in addressing this issue. The edutech space is uniquely positioned to disrupt the traditional education finance system through innovative learning platforms, income share agreements (ISAs), and now, blockchain-based solutions. One of the most promising approaches in this space is the integration of technology to make education financing more accessible and flexible for students.

Also Read: Edutech is surging, but here are the 3 issues it is facing

Edutech companies have introduced alternative ways for students to finance their education, such as ISAs, where students agree to pay a percentage of their future earnings instead of taking on traditional loans. This model ties payment to success in the workforce, aligning the interests of both the student and the institution.

Notable edutech platforms like Lambda School (now known as BloomTech) have popularised ISAs in the tech space, allowing students to pay tuition only once they land a job. These innovations are changing the conversation around student debt and offering pathways to education that aren’t reliant on traditional loan models.

Another area where edutech is making strides is in leveraging blockchain technology for decentralised financing solutions. Blockchain has the potential to address many of the inefficiencies and lack of transparency in the current student loan system by providing secure, verifiable transactions and opening up opportunities for peer-to-peer financing. This is where Open Campus enters the picture.

Open Campus and blockchain-based student financing

At Open Campus (OC), we’re committed to tackling the student debt crisis head-on by leveraging decentralised technologies to create a more equitable system. With a portfolio of 60 edutech companies and over 22 million students, OC is in a unique position to provide a comprehensive financing solution. We believe that blockchain offers a way to transform not only how education is funded but also how students access that funding.

Through our decentralised education finance initiative, EduFi, we’re tokenising the US$1.7 trillion education finance market to revolutionise how students, investors, and institutions engage with student loans. By using blockchain, we’re creating a transparent and secure way for students to access funding without the bureaucratic red tape of traditional lenders. The decentralised nature of blockchain also opens the door for more creative financing solutions, like peer-to-peer lending and smart contracts that can automate repayment processes based on income.

Our vision at Open Campus goes beyond just lowering the cost of education. We aim to create a sustainable financial ecosystem where students can receive funding from a diverse set of investors, ranging from individuals to institutional players. By tokenising educational financing, students can access loans that are more flexible and tailored to their financial situation, with the potential for better interest rates and more favourable repayment terms. This, in turn, makes education more accessible for underserved populations, who are often disproportionately affected by the traditional student loan system.

Strategic partnerships and future opportunities

To make this vision a reality, we’re not going at it alone. We’re working to form strategic partnerships with various financial institutions, blockchain innovators, and even traditional venture funds that are looking to make a social impact through education. One key aspect of our approach is creating pathways for students to not only secure funding but also build their digital identity through verifiable credentials on the blockchain.

Also Read: The digital classroom: How edutech is sculpting the minds of tomorrow

Through strategic partnerships, we plan to collaborate with funds that are interested in co-raising and funding projects that align with our mission. For example, we’re exploring opportunities to work with decentralised autonomous organisations (DAOs) focused on education, where funding can be crowdsourced directly from members who believe in the power of education to change lives. This collaborative approach is essential for scaling our efforts and ensuring that millions of students can access the financial resources they need.

Moreover, we’re keen on establishing student distribution pathways, partnering with schools, educational platforms, and governments to help more students access decentralised loans. This multi-faceted strategy will help onboard millions of students into Web3 while solving the pressing issue of student debt. Imagine a future where students aren’t bogged down by crippling loans but instead are empowered by a flexible, transparent system that works in their favour.

The road ahead

The student debt crisis is a challenge that demands innovative solutions, and at Open Campus, we’re proud to be part of that solution. By leveraging blockchain technology, we’re not just offering a better way to finance education — we’re building a system that aligns the interests of students, educators, and investors alike.

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Revolutionising Insurance: Leveraging AI to Drive Inclusivity and Accessibility in the Philippine Market

At Echelon Philippines 2024, a fireside chat titled ‘Revolutionising Insurance: Leveraging AI to Drive Inclusivity and Accessibility in the Philippine Market’ focused on how Lydia.ai is leveraging AI to transform the insurance landscape in the country.

Christina Cai, the Chief Operating Officer and Co-Founder of Lydia.ai, emphasised the importance of inclusivity and accessibility in insurance offerings for underserved and unbanked populations. By utilising AI-driven health scoring models, Lydia.ai aims to provide insurers with the tools needed to develop more affordable and accessible insurance products, thereby integrating insurance into the daily lives of Filipinos.

Also Read: Echelon Philippines 2024: Beyond traditional frameworks with Minette Navarrete of Kickstart Ventures

Cai discussed how traditional barriers to entry, such as invasive health assessments and high costs, can be mitigated through AI technology. The goal is to make health data more useful while ensuring transparency, trust, and customer consent in the process. By tailoring insurance products specifically to the Filipino market using local data and digital sources, Lydia.ai seeks to enhance the overall insurance experience.

The conversation also highlighted the potential of AI to address misconceptions and accessibility challenges, particularly for underrepresented groups and individuals with disabilities.

Moderator Christine Galolo, General Manager at e27, facilitated the discussion that showcased Lydia.ai’s commitment to creating a more equitable insurance environment in the Philippines. With the integration of AI in insurance, the hope is to break down barriers and foster greater financial inclusion across the nation.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

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State-run Malaysia Digital Economy Corporation (MDEC) has signed Memorandums of Understanding (MoUs) with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV).

These strategic partnerships will strengthen Malaysia’s digital economy, bringing in capital investment of up to US$45 million (RM200 million) to fuel innovation and accelerate the growth of local startups.

Also Read: MDEC CEO: Under Malaysia Digital, digital businesses will have more flexibility in fiscal, non-fiscal incentives

This combined funding will foster the growth of Malaysian startups, particularly in alignment with Malaysia’s KL20 initiatives.

Ascent will invest in early-stage Malaysian startups across critical sectors, including fintech, embedded finance, healthcare, sustainable agriculture, SME enablers, and next-generation technologies like Artificial Intelligence (AI) and robotics. This capital injection is expected to enhance financial inclusion, promote digital transformation, and enable promising startups to scale regionally.

Simultaneously, CCV, the venture arm of Indonesia’s largest private bank, Bank Central Asia (BCA), offers Malaysian startups access to its Southeast Asia regional ecosystem network. This investment aligns with MDEC’s mission to accelerate AI, cybersecurity, blockchain, and digital finance growth, providing vital support for Malaysian startups in these high-growth sectors.

These strategic MoUs will drive cross-border innovation, allowing Malaysian companies to leverage resources and expertise from Ascent and CCV to expand operations and compete globally. The partnerships will also foster local innovation and talent development and contribute significantly to Malaysia’s transformation into a dynamic, digital-first nation.

Also Read: TikTok exec Anuar Fariz Fadzil joins MDEC as CEO to drive Malaysia’s digital agenda

Through these collaborations, Malaysian startups will gain access to international markets, mentorship from industry experts, and potential follow-on investments. MDEC will work closely with Ascent and CCV to ensure the successful execution of these initiatives and maximise their long-term impact on Malaysia’s digital economy.

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With close to 30 years of history, Accuron Technologies (Accuron) started out in contract manufacturing for aerospace parts and components. As the years passed, the Singapore-based company expanded to include other pillars: semiconductor equipment manufacturing and advanced manufacturing equipment.

But on Tuesday, at the sidelines of the Singapore Week of Innovation & Technology (SWITCH), Edwin Chow, Vice President for Industrials & New Ventures at Accuron, spoke to e27 about the company’s corporate venture capital (CVC) arm.

“The idea is to invest in younger, fast-growing companies that have their own intellectual property, proprietary technology, and know-how. [These companies] are already scaling up in sectors or segments that are either part of our core businesses or operating in sectors that have a long-term growth trajectory, driven by the so-called megatrends, demographic change, and digitalisation,” he elaborates.

“In a nutshell, we spot promising, high-growth, fast-growing companies that require financial resources and other capabilities that we can provide–and we want to invest in the right ones.”

Accuron invests in areas within or adjacent to its core business areas, from aerospace and semiconductor equipment to 3D printing. The organisation is also looking at sectors that it believes have long-term growth potential, such as renewable energies and digitalisation of the manufacturing process.

Also Read: Malaysia Digital status companies pioneer growth in the competitive semiconductor industry

“People are getting older; fewer people are willing to work in factories. So, the natural thing to do is to digitalise and automate,” Chow explains.

He also added that Accuron is looking for companies at a later stage. “They already have customer traction, so [that includes] positive cash flow and customers in their home base. They have their own proprietary IP and a management team that is growth-oriented and ready to scale. What we do not want is companies that are just too early, but we want to keep these companies on our radar.”

During our conversation, Chow also discussed the challenges late-stage startups may face in scaling their businesses. Securing more customers without losing profitability and managing a more efficient supply chain and supplier base are top of the list.

“The third area is something that most earlier-stage startups tend to ignore until later: the internal governance of the company. It includes the financial and HR governance. As a young startup, you focus on getting the next customers and partners, ensuring you raise funds. Sometimes you do not realise that if you are raising a bigger round, the investors that come in are usually institutional investors,” Chow points out.

“They will probe your management processes, financial statements, and HR policy.”

Looking ahead

With the rising popularity of Generative AI, the semiconductor industry is experiencing a surge in demand. As a company with a business pillar in the industry, how does Accuron plan to seize this opportunity?

Also Read: AI will spur growth in data centres, potentially leading to semiconductor shortage: Bain & Co

Chow begins by stressing that the semiconductor market is “very, very big.” As a US$600 billion market, it includes a wide range of products and requires Accuron to clearly focus on what it wants to achieve in the space.

“We have existing companies that make machines that help the fabrication process of the chips, companies that make machines that help handle the wafers … so when you speak about the relations between AI and the semiconductor industry, it is a very broad brush,” he says.

“In terms of strategy, we look at how we can grow the business units that we already have in that sector and the area of new corporate ventures. We want to identify companies that can perhaps use AI to help in the digitalisation of the manufacturing process,” Chow continues, giving examples of machine learning that can help improve the manufacturing process by reducing defects and improving yields.

“I am quite cautious in saying there is such a grand strategy. Frankly, unless you are TSMC or Nvidia, I would take anything anyone else says with a big pinch of salt.”

The same open-mindedness is also seen in Accuron’s plans for 2025.

“We do not have a target in mind, which is the benefit of being a Corporate VC. Because we do not invest other people’s money; we invest our own money from our balance sheet,” Chow closes.

“We are taking a more curated and targeted approach. So, we want to meet as many interesting companies as we can, but we will probably act on only a few that fit our strategies.”

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Image Credit: Accuron

The post What Accuron wants startups to know about fundraising for late-stage companies today appeared first on e27.

Over the past year, my journey with AI tools such as Claude, ChatGPT, and Google’s Gemini has reshaped how I approach communications and PR for tech founders and funds across Asia. Using these tools has fundamentally transformed my workflow and delivered more effective, targeted, and impactful PR campaigns.

There’s no question about it: AI is and will be an instrumental tool in our industry. Those who do not get on board will be left behind. It is tantamount to using an abacus for calculations.

Before diving into the learnings or applications for AI, one core principle I follow is to steer clear of using AI for first drafts or iterations of meaty content like press releases,  long-form reports, or even an op-ed like this one. These early drafts often land generically and fail to hit the mark. But, who knows, future advancements and continuous learning might further enhance its effectiveness.

For now, though, AI is invaluable for idea generation, short-form content generation and refinement, and the design of simple graphics.

Here is a list of proven use cases:

Idea generation

AI is incredibly efficient for brainstorming talking points or story angles and getting your planning started.  For instance, when developing a pitch about the rise of sector-specific AI for an early-stage VC fund, AI can swiftly generate a list of pertinent questions, which you can then fine-tune.

Example prompt: “I’m pitching a story for [insert publication] on the growth of AI for an e-commerce client – please give me a list of 10 questions.”

I then review and refine the questions.

Media pitches

Without a doubt, using AI has been useful in fine-tuning media pitches and providing a general sense check.

Example prompt:

“[insert media pitch] Please review and edit this pitch for a tech report for e27.

Media responses

Many PR professionals are increasingly using AI to develop media responses. AI is supportive in providing initial structure and broader viewpoints. However, the responses always need to be in line with the ‘house’ view, tone of voice, and of course, be original and authentic.

Headline crafting

Crafting the first five to seven words in a headline is crucial for a communications professional. For me, I use AI more often to refine my headlines than to generate them from scratch.

Example prompt:

“[insert current headline] Please provide five alternative headlines for a press release that targets institutional investors.”

Sense-checking messaging

As PR professionals, we always harp on getting the key message through. AI can be a partner in giving you that sense check.

Example prompt:

[insert content/interview response] What is the key message here?

Also Read: How marketing will be enhanced through generative AI

Editing

AI has been immensely helpful in editing content, bringing clarity, and quickly incorporating feedback.

Example prompt:

[insert paragraph of content] + [insert client feedback e.g. “For this paragraph, can you please also incorporate additional context on VC investment in Vietnam’s startup ecosystem?”

Transcriptions

Our clients are often time-pressed so any opportunity they get to speak on podcasts, webinars, media interviews, or panels, we look to reuse and repackage. The “old school” way was to record, get a transcriber to transcribe, review manually, and develop content off the back of it.

With tools like Castmagic, the transcriptions get cleaned up, analysed, and synthesised and are available in various blog, and social media formats. Tools like this are also useful in helping you slice and dice into various other formats, or respond to specific prompts (e.g. pull out all quotes related to hiring for AI roles in Southeast Asia). This can all be done by the time you make a French press coffee.

Graphics

This is still fairly preliminary but I’m excited about the developments. With advanced tools like ChatGPT 4.0, we now have access to the creation of diagrams, charts and pie graphs within minutes following a prompt. This will be an excellent resource in saving time and efficiency all around.

Example prompt: [create a timeline diagram of company X with inception and milestones].

Research assistance

Last but not least, AI has been a great research assistant in supporting media pitches, developing proposals, and overall content creation. With more advanced tools like Perplexity, you also have access to academic papers to draw from.

However, when using AI, it’s important not to take anything generated at face value and review it with a critical eye.

Be wary of inaccuracies or “hallucinations” in AI responses. AI is not perfect and the research presented needs to be double-checked and sources verified.

For example, if you prompt the following: “Give me a list of tech reporters in Asia.” You will find most of the list outdated. Since certain AI tools rely on information only available until 2022, 2023 or information is not fully updated online.

Also, it is important to ensure your work remains original and authentic. This reiterates the earlier point about not blindly trusting AI-generated content.

Ultimately, AI is designed to augment the work of communications and PR professionals. Our role as storytellers remains indispensable. In an AI-assisted world, the creation of high-quality content is more crucial than ever for PR professionals.

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Solving the bot problem may seem like a pretty simple procedure from the outset. You simply eliminate any profile that doesn’t belong to your original profile.

However, as our social lives become invariably intertwined with our online identities, it is clear that one-size-fits-all approach is not going to work. 

According to a Portuguese missionary in the 16th century, Japanese people are so crafty that they may have three faces. The theory suggests that the first face we show to the world. The second face is reserved for family and friends, and the third face is reserved for us alone. Perhaps, the latter is our truest self.

The Japanese three faces theory has spiked the interest of many communities since then, and even today, many people wear different masks for different occasions. 

In a discussion on Reddit, there were many interesting responses about the theory of three faces, with the vast majority agreeing that three or possibly more faces would be the norm.

If this is the case and individuals want to showcase different sides of their personality via the masks that they wear, how can these various masks be incorporated into Web3 social media design?

“[The Japanese people] are so crafty in their hearts that nobody can understand them. Whence it is said that they have three hearts: a false one in their mouths for all the world to see, another within their breasts only for their friends, and the third in the depths of their hearts, reserved for themselves alone and never manifested to anybody.” From História da Igreja do Japão, Volume I, Page 173, written by Father João Rodrigues, SJ.

What is a Sybil attack?

A Sybil attack is an online security threat where one node operates multiple fake identities on a peer-to-peer network. The easiest way to visualise it is the proliferation of social media accounts created by one single user. Opportunists can use Sybil attacks to run multiple nodes. 

Also Read: ‘Tis the season to be giving! 4 ways Web3 is transforming the fundraising sector

The name comes from Schreiber’s book in 1973 based on Sybil, aka Shirley Ardell Mason, who was treated for multiple personality disorder. After therapy, Sybil manifests sixteen personalities.

What is Sybil resistance and why is it a crucial component of Web3 security?

Although there is no way to fully prevent a Sybil attack, Sybil resistance has become a critical component in maximising defence against potential attacks.

Building a trusted, decentralised profile for navigating the digital world is going to be critical as your digital identity becomes more and more associated with your online engagements.

Consider the role of a freelancer as an example. They want to provide services to various Web3 communities without having to give away personal information every time they consider a job offer or application. 

Kevin Owocki, Founder of Gitcoin Grants on Sybil resistance

What users need versus what users want

Social media platforms and communities should provide a safe place to share online content, a way to interact with new community members, built-in privacy tools, built-in trust and easy access to the community with clear navigation between different communities. 

Now for what users want. Using the three faces theory and based on the analysis of responses to the theory online, it is clear that users want to showcase different versions of their personality depending on the platform and the objective of the profile created. Providing the tools to facilitate what users want is no easy task. 

However, technologists across Web3 ecosystems are hoping to offer solutions to facilitate our digital behavioural needs. Orbis protocol has integrated verified credentials so that profiles can now be associated with and display credentials issued by both Gitcoin Passport.

Why is this important? It directly prevents bad actors from having multiple accounts within a social platform.

An open, wholesome social experience

As somebody who dabbles in and out of different social media platforms, it would make the internet a much nicer place to hang out if I didn’t have to log in and out every time I switched profiles.

Web3 tools allow users to create, migrate and switch between social applications. Projects like Orbis Protocol and Subsocial are providing new tools that are Web3 teams to build decentralised social applications into their products.

Also Read: The Philippines can be ‘Korea of Web3’, says Axie Infinity Co-Founder

However, how can SoFi developers ensure that the end user is protected from bots while also allowing creative expression via their “three faces”? 

“Subsocial’s transaction fees, though minuscule, serve to effectively limit the widespread usage of bots on the platform. In the future, we plan to integrate a decentralised identifier (DID) solution, allowing users to see who is verifiably real. Social networks built on Subsocial will have the option to only show content from verified users. On the other hand, users can choose to take things with a grain of salt if they are coming from an unverified account,” says Alex Siman, Founder of Subsocial. 

New social experiences will allow communities to create hubs where people can share valuable information, access educational content and connect with leaders.

The tools being developed for newer forms of online engagement need to provide a safe place for individuals to speak openly and passionately about any subject matter, while also providing a level of privacy that is needed for self-preservation and autonomy.

Bots, bots and more bots

Eliminating the unbearable bots on social platforms has become a painful but critical objective for all social platforms. In addition to ruining the experience and interrupting the flow of information, bots are being used to manipulate vulnerable users and hack into accounts.

Even the most popular social engagement platforms have become almost unbearable with the sheer amount of fake avatars flogging products and services. 

Harassing user profiles on social media platforms has become a skill set of communities across Web3 ecosystems. Are these the type of skills encouraged to participate in the future of the internet?

Some warning bells are ringing here. Let’s not turn the entire internet into a place for harassment.

Spaces to the rescue. Many seek refuge from the onslaught of unverified user profiles in Twitter spaces. The sound of actual voices having honest conversations has become a welcome reprieve but also a novelty in an age of fakery and mundane “influencer” content. 

The recent migration of users to Mastodon demonstrates a willingness for internet users to consider new ways of interaction. Since Elon took over, Twitter reigns, over one million people have flocked to this new platform.

Factoring in the three faces theory

During our lifetime, people wear different masks for occasions. This is human nature whether it is to hide vulnerabilities or project a different level of confidence. 

A question on Reddit regarding the legitimacy of the three faces theory had 97 responses, and the vast majority agreed that you have at least three faces. The first face you show to the world. The second face you show to your close friends and your family. The third face, you never show anyone.

In fact, many respondents believe that you have more than three faces. “I think I take on different personas depending on who I am and/or what I am doing.”

Another interesting reply was, “Nobody except my internet service provider and data compilers at Google know the true me”.  

If self-preservation is a necessary component of a public persona, how can social applications cater for the three faces that one might wear?

In the future, could users select their masks just as they would select their clothes for the day?

The potential of Web3 social applications to provide more seamless, open and sustainable experiences is intrinsically tied to our ability to alter our personas based on different online environments.

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This article was first published on December 15, 2022

The post How the three faces theory explains identity issues and the rise of bots appeared first on e27.

Building Bridges: How Corporates and Startups Can Collaborate for Mutual Success

The Echelon Philippines 2024 panel discussion shed light on the vital collaboration between corporates and startups, focusing on innovative partnerships and joint ventures.

Moderated by Justin Chin, Head of Business Development at e27, the session featured insights from industry leaders, including Jerry Jimenez Bongco, Country General Manager at Amazon Web Services (AWS); Woei Yuan Seng, Director, Technology Cluster
at MP International Pte Ltd; Bing Tan, CEO and Co-Founder at Packworks; Yasunori Kinebuchi, Director at NTT.

The discussion explored the collaboration between corporates and startups, and how these collaborations can leverage the unique strengths of both parties to create win-win scenarios.

Also Read: Echelon Philippines 2024: Empowering early-stage startups through accelerators, educators, and enablers

Bongco emphasised the potential in sectors like digital payments, BPO, and retail, highlighting the Philippines’ young population as a significant driver for innovation. Kinebuchi reinforced the importance of mutual benefit, advocating for a venture client model to enhance collaboration. Tan focused on supply chain solutions and financial services, while Seng highlighted the necessity of ecosystem support and clear objectives to ensure successful partnerships.

The panelists acknowledged common challenges such as cultural differences, operational speed, and goal alignment. They stressed the need for transparency and trust in building these relationships, drawing on successful case studies from the retail and BPO sectors to illustrate their points. The session provided a roadmap for overcoming obstacles in corporate-startup collaborations, highlighting that with the right strategies, both corporates and startups can thrive in an increasingly competitive landscape.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

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The post Echelon Philippines 2024: The power of collaboration – corporates and startups join forces appeared first on e27.

Dear reader,

Malaysia’s digital transformation takes a significant leap forward with MDEC’s newly forged partnerships with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV).

These MoUs bring a combined capital investment of US$45 million, targeting growth for Malaysian startups in key sectors such as fintech, AI, and sustainable agriculture.

Ascent’s focus on early-stage startups in essential digital sectors complements CCV’s role in offering access to Southeast Asia’s expansive ecosystem, providing an invaluable network for Malaysian businesses aiming to scale regionally.

This collaboration aligns closely with Malaysia’s KL20 digital strategy, reflecting a commitment to fostering innovation, financial inclusion, and sector-specific growth. By connecting Malaysian startups to resources and expertise across Southeast Asia, MDEC is building a pathway for local companies to integrate with the broader digital economy.

This strategy not only bolsters domestic talent and innovation but also creates a platform for startups to compete globally, enhancing Malaysia’s position as a digital-first nation.

The partnerships highlight a regional synergy that can drive long-term digital and economic progress, positioning Malaysia at the heart of Southeast Asia’s tech-driven growth.

Sainul,
Editor.

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NEWS & VIEWS

MDEC unveils US$45M investment initiative with Ascent, CCV to strengthen Malaysian startups
This combined funding by MDEC, Ascent, and CCV will foster the growth of startups, particularly in alignment with Malaysia’s KL20 initiatives.

Bukalapak adjusts strategy amid Q3 loss, plans job cuts
The company’s revenue rose by 2% y-o-y to US$218M for the first nine months; However, EBITDA was recorded at -US$4.36M. Layoffs are expected over the next two quarters.

NUS, NTU to launch US$37.8M startup incubator programme
The programme is designed to bridge the gap between scientific research and market application; It will support startup teams by helping them refine their initial ideas, validate market needs, and design robust business models.

Over 60% of Indonesian youth invest in crypto
The findings by Bappebti show that 26.9% of these investors are between 18 and 24; Meanwhile, 35.1% fall within the 25 to 30 age group; Despite recent declines, Indonesia’s crypto transaction volumes are robust.

Indonesia’s GoTo achieves positive Adjusted EBITDA
The group’s adjusted EBITDA reached a new high of US$8.73M v/s a loss of US$35.6M in the same period last year; This strong performance was underpinned by a 21% y-o-y increase in MTUs across the GoTo ecosystem.

Former FTX executive Nishad Singh gets supervised release
He was involved in the misappropriation of about US$8 billion in customer funds; Singh had pleaded guilty to six counts of fraud and conspiracy.

S&P: EV makers to bet US$20B on South and Southeast Asia
The rating agency said that building an electric car industry in SSEA will be expensive; It will involve execution risk typical for cross-border expenditure, where entities will try to anticipate shifting policies over long investment horizons.

Lazada Whitepaper reveals 88% of consumers make purchasing decisions using AI
Nearly 63% consumers in SEA believe AI is widely adopted in online shopping, with over half of the respondents identifying AI chatbots (63%), translations (53%), and visual product searches (52%) as key recognized AI features in e-commerce.

Lazada co-founder enters AI arena with Salesforce-like product
Magnus Ekbom started SEAI with Ashwath Ramesh, who was executive vice president for Southeast Asia at Lazada; SEAI focuses on building machine learning models that are customised for enterprise clients.

DCAP nets strategic funding to advance financial inclusion with AI-driven lending solutions
DCAP’s go-to-market lending-as-a-service model allows traditional financiers to embrace digital transformation to streamline processes and enhance customer reach.

81RAVENS scores US$4.5M seed funding to launch Solana-based arena shooter PARAVOX
The investors are DIGITAL HEARTS HOLDINGS and GREE Ventures; PARAVOX is currently in Global Open Alpha and claims to have clocked over 100,000 downloads on the Epic Games Store.

Finfra secures US$2.5M to power Indonesia’s lending ecosystem in new partnership with Tyme Group
The investors include Cento Ventures, Accion Venture Lab, and Z Venture Capital; Finfra will use the funds to expand onboarding capabilities for customers, target profitability, and enhance its data analytics, scoring, and risk assessment products.

Coolmate gets Vertex backing to scale its eco-friendly D2C apparel brand beyond Vietnam
Coolmate innovates with eco-friendly materials like organic cotton, recycled fibres, and the latest eco-friendly production processes, such as clean dye technology.

BuzzAR lands US$1.16M in funding to boost Saudi tourism with AI-driven travel companion
HSBC New Economy Fund is the finance partner; Beyond offering storytelling and personalised content discovery for travellers, BAE has built-in booking and payment functionalities to handle transactions for travellers on the go seamlessly.

Vietnam’s PangoCDP secures US$1.5M seed funding
PangoCDP’s innovative platform is designed to empower businesses by providing a series of social communication tools and a suite of mini-apps, all underpinned by a robust customer data platform.

OpenAI launches its Google challenger, ChatGPT Search
Built into OpenAI’s ChatGPT platform, ChatGPT Search is designed to give “timely answers” to questions, OpenAI says, drawing from a range of online sources.

FEATURES & INTERVIEWS

Cutting carbon at the socket: measurable.energy’s smart solution to plug power waste
measurable.energy’s smart sockets are available through a pricing model that combines a one-time hardware fee with a software license.

What Accuron wants startups to know about fundraising for late-stage companies today
When asked about its upcoming plan for 2025, Edwin Chow of Accuron stresses the importance of taking curated, targeted approach.

Echelon Philippines 2024: Expert panel on building a strong foundation for startup success
The Echelon Philippines panel emphasised that achieving product-market fit and following lean startup principles are essential for new ventures.

Echelon Philippines 2024: Christina Cai of Lydia.ai on revolutionising insurance with AI
The Echelon Philippines fireside chat explored how Lydia.ai is leveraging AI to transform the insurance landscape in the country.

FROM THE ARCHIVES

Trust me, PR is with you day and night!
PR should be seen as more than just a combination of traditional and social media; It needs to incorporate conversion and real-time engagement; PR is shifting from focusing solely on output to measuring outcomes.

From Seed to Series: Navigating different funding rounds with PR
In today’s competitive startup scene, the integration of PR into the funding journey is no longer a luxury but a necessity.

Demystifying ToFu churn: How strategic CPO-CMO collaboration makes the difference
Merging CPO-CMO views with causality frameworks is key to reducing early churn and sustaining customer relationships.

Rise of generative AI in search: Exploring opportunities for APAC brands
Generative AI’s conversational ability and real-time training could fundamentally transform how users engage with search.

How Gen Z’s view on work-life balance can transform your business
A thriving workplace is not merely about productivity but also about prioritising the well-being of employees.

Why inclusive hiring matters for a startup ecosystem
A truly inclusive workplace is one where Persons with Intellectual Disabilities (PWIDs) are able to learn, thrive and be respected.

Keeping up with advertising: How brands can make the most out of change
By combining new technology with industry expertise, brands can stay ahead of the curve, reaping the benefits of their advancements.

Skate to where the puck will be: How category design gives you a breakaway
True category leaders take a look at the current state of play and think beyond where the current players are positioned.

AI in influencer marketing: Transforming trends and shaping the future
As AI continues to evolve and influence the influencer landscape, the future looks bright for brands, talent agencies, and AI influencers alike.

Rising above the noise: Why startups shouldn’t chase every news cycle
In such a dynamic environment, how can startups avoid being swayed by every headline? Should founders participate in these discussions?

How I continued building my tech startup as a student in the startup winter
Join me in reflecting on my journey and exploring how I navigated the challenges of building my tech startup during the startup winter.

THOUGHT LEADERSHIP

Creating a safe digital world: Protecting kids from cyber crimes and preventing cyberbullying
Protecting kids online is crucial, not only from cyberbullying but also from becoming bullies themselves, as both roles have lasting impacts on young lives.

Building brand visibility: Timeless content marketing principles for startups
Content marketing isn’t just about producing material—it’s about creating meaningful, valuable experiences that connect with people.

Cross-chain interoperability: The key to unlocking crypto’s true potential
Interoperability is the missing component that will unlock crypto’s true potential, well beyond the industry itself.

The double-edged sword of personal branding: A journey of discovery
Building a personal brand is not a decision to be taken lightly, nor is it a one-size-fits-all solution for career advancement.

As global funding slows, MENA continues to attract investment
With Q4 typically being the strongest quarter for VC activity in MENA, we’re optimistic about what’s to come.

The post Ecosystem Roundup: MDEC unveils US$45M investment initiative | NUS, NTU to launch US$37.8M incubation programme | Bukalapak plans job cuts appeared first on e27.