Echelon Singapore, organized annually by e27, is Southeast Asia’s leading conference for tech and startups. The event brings together startups, investors, and businesses, creating a vibrant platform for collaboration, innovation, and growth. With its engaging keynotes, thought-provoking panels, and an energetic exhibition space, Echelon fosters connections, showcases transformative technologies, and drives partnerships that propel the APAC ecosystem forward.

As we prepare for Echelon 2025, we are looking back at some of our partners who have made this event a resounding success. One of our partners is Josys. Josys is a trailblazer in IT management solutions, offering businesses an all-in-one platform to streamline their operations, enhance productivity, and reduce SaaS management complexity. Josys provides a unified SaaS management platform that centralizes IT processes, automates workflows, and enforces compliance policies. It enables companies to focus on innovation rather than administrative hurdles. Their commitment to simplifying IT for growing organizations aligns perfectly with Echelon’s mission of empowering the startup ecosystem.

Cutting edge SaaS management solutions at Echelon X

At Echelon X in Singapore, Josys made a notable impact by presenting its cutting-edge device and SaaS management solution. The team introduced visitors to its SaaS Management platform. The platform automates traditionally manual IT operations, optimizes operational costs, and enhances SaaS security. This presence allowed Josys to connect with tech leaders, startups, and potential clients. As a result, it highlighted its role in supporting businesses through scalable IT solutions.

Josys’ active role at Echelon X extends beyond its own growth. Its focus on SME digital transformation aligns closely with e27’s mission to support and connect startups in the region. By sharing its expertise, Josys not only showcased its platform but also contributed to the broader ecosystem by encouraging technology adoption and collaboration among SMEs and startups.

Also read: e27 and Prudence Foundation champion disaster tech innovation through strategic partnerships

Panel spotlight: Tech adoption of SMEs in SEA

One of the highlights of Josys’ participation was the panel session titled “Tech Adoption of SMEs in SEA – and the Way Forward,” featuring Josys’ APAC Regional Director, Iskandar Ahmat. The session explored strategies to overcome barriers faced by small and medium-sized enterprises (SMEs) in adopting new technologies. Ahmat shared insights on how Josys is helping SMEs streamline IT management, addressing challenges like cost, complexity, and security. By participating alongside other thought leaders such as Esevel, Zoho, and Eazy Digital, Josys reinforced its commitment to fostering technological innovation for SMEs in Southeast Asia.

Through its presence at Echelon X, Josys positioned itself as a thought leader in IT management and SaaS innovation. The discussions led by its team emphasized the need for accessible, cost-effective solutions. These solutions are tailored to the unique challenges of Southeast Asia’s business environment. This aligns with e27’s goals of empowering startups with the tools and knowledge needed to thrive in a competitive market.

Also read: e27 and Gateway of Asia transforming Asia’s startup landscape from Singapore to Manila

e27’s commitment to partners and the community

Josys’ participation provided valuable networking opportunities, strengthening its relationships with investors, partners, and fellow innovators. By engaging with the E27 community, Josys showcased its commitment to driving sustainable growth and contributing to the development of Asia’s tech landscape. This multifaceted involvement at Echelon X reflects Josys’ strategic vision of empowering businesses to embrace digital transformation while fostering a collaborative ecosystem in Southeast Asia.

By partnering with e27, Josys has been able to connect with the tech leaders, innovators, and decision-makers who attend Echelon, showcasing how their solutions can address the unique challenges faced by startups and enterprises. Together, Josys and e27 have created opportunities for businesses to adopt smarter IT strategies, driving growth and efficiency in Southeast Asia’s fast-evolving tech landscape.

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This article is produced by e27

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On Friday, EQT Private Capital Asia and PropertyGuru Group Limited announced the completion of the acquisition of the property tech (proptech) company by BPEA Private Equity Fund VIII for US$6.70 per share in cash in a transaction that values PropertyGuru at an equity value of approximately US$1.1 billion.

In connection with the closing, PropertyGuru’s common shares ceased trading before the market open on December 13 and the company has been delisted from the New York Stock Exchange.

Following this move, PropertyGuru will operate as a privately held company. According to a statement, following the merger through January 12, 2025, each unexercised and outstanding warrant will be, upon valid exercise, exchangeable for US$0.7526 per warrant.

Hari V. Krishnan, Chief Executive Officer, PropertyGuru Group, said, “We are pleased to announce the successful completion of this transaction and we welcome EQT to PropertyGuru. Over the past seventeen years, our growth has been enabled by strong partnerships with our shareholders, led by TPG and KKR. On behalf of everyone at PropertyGuru, I want to thank them for their support and I am proud that we have delivered a solid financial exit for our long-term investors.”

Also Read: EQT Private Capital Asia to acquire PropertyGuru for US$1.1B

“On behalf of our group leadership team, I thank our Gurus for their hard work and the wonderful business we have built together, and our customers and partners for their continued trust and partnership. EQT shares our commitment to our continued sustainable growth, and we look forward to working with them towards our Group’s vision to power, communities to live, work and thrive in tomorrow’s cities.”

Founded in 2007 and headquartered in Singapore, PropertyGuru is one of the notable proptech platforms in Southeast Asia (SEA). The company said that it connects over 31 million property seekers with more than 50,000 agents across Singapore, Malaysia, Thailand and Vietnam each month.

Its services included extensive real estate listings, data-driven insights, and mortgage solutions such as PropertyGuru Finance and enterprise client solutions under PropertyGuru for Business.

According to a statement, EQT’s investment in PropertyGuru aims to support the company’s ongoing progress by providing resources and expertise to accelerate technology development, expand market reach, and improve operational efficiency.

“Leveraging its experience with leaders in the digital marketplace and real estate classifieds sectors –-including companies such as Idealista and Casa.it-– EQT seeks to advance PropertyGuru’s strategic initiatives, strengthen its position in SEA’s proptech sector, and drive growth in dynamic markets influenced by urbanisation, middle-class expansion, and digitalisation.”

The news about this acquisition was first announced in August this year.

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Image Credit: PropertyGuru

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The rapid evolution of Generative AI (GenAI) technologies presents a transformative opportunity for the ASEAN region. Governments across these nations recognise GenAI’s potential to propel economic growth and maintain global competitiveness, which is reflected in their initiatives to drive innovation in the sector. 

The ASEAN GenAI Startup Report 2024 highlights the critical role that public policy and government initiatives play in fostering a thriving GenAI ecosystem. By examining the strategies and actions of ASEAN governments, we can better understand how public support shapes the region’s future of technology and innovation.

Government-led initiatives boosting GenAI development

Across ASEAN, government-led initiatives are proving instrumental in removing barriers to innovation and providing the necessary support for GenAI startups to flourish. These initiatives range from financial incentives to regulatory frameworks and educational programs, each tailored to accelerate the adoption and development of GenAI technologies.

• Financial and regulatory support

Many ASEAN governments have implemented grants, subsidies, and co-investment funds to lower the entry barriers for new GenAI ventures. For example, Singapore’s Productivity Solutions Grant (PSG) aids small and medium-sized enterprises (SMEs) adopt IT solutions and equipment, including GenAI technologies. Meanwhile, the National Multimodal LLM Programme, also in Singapore, commits substantial resources to develop language models that cater to the region’s diverse linguistic landscape.

In Indonesia, the Ministry of Communications and Informatics (KOMINFO) is actively involved in promoting GenAI through development programs that align with the country’s digital economy strategy. These programs provide funding and help create a regulatory environment encouraging experimentation and innovation while ensuring data privacy and security.

• Education and workforce development

Understanding the need for a skilled workforce to drive GenAI innovation, ASEAN governments also focus on education and training programs. For instance, Vietnam’s collaboration with Google offers 40,000 AI and machine learning courses scholarships, aiming to build a highly skilled workforce adept at leveraging GenAI technologies.

Also Read: Big Tech and ASEAN startups: Navigating the friend-foe dynamic in the GenAI era

Similarly, the AI Verify Foundation in Singapore facilitates the development of trustworthy AI solutions and educates the AI workforce on ethical standards and best practices. This initiative helps ensure that the GenAI solutions developed are innovative, responsible, and aligned with global standards.

• Infrastructure development

Some ASEAN governments are investing in state-of-the-art digital infrastructure to support GenAI startups’ heavy computational demands. Establishing dedicated AI parks and innovation hubs in Malaysia and Thailand, where startups can access high-speed internet and cloud computing resources, exemplifies this trend. These hubs serve as centres of excellence that foster collaboration between academia, industry, and government, driving the development of advanced GenAI applications.

Challenges and opportunities for government intervention

While ASEAN governments are proactive in their support for GenAI, challenges remain. Regulatory discrepancies across borders can hinder the seamless operation of startups that wish to scale regionally. Additionally, there is an ongoing need to balance innovation with concerns around privacy, security, and ethical implications of AI.

To address these challenges, governments have a growing opportunity to harmonise regulations and create a unified digital market for GenAI products and services. Such efforts would enhance market access and ensure that ethical standards and consumer protections are uniformly enforced across the region.

The role of government in scaling the GenAI ecosystem in ASEAN is multifaceted and vital. By providing financial support, developing regulatory frameworks, investing in education, and building infrastructure, ASEAN governments are laying the groundwork for a robust GenAI landscape. These efforts are crucial for nurturing innovation, attracting investment, and ensuring the ASEAN region remains at the forefront of the global technology race.

As the GenAI sector evolves, ongoing collaboration between the public and private sectors will be essential. Governments that continue to adapt their strategies to support the dynamic needs of GenAI startups will foster national innovation and contribute to regional and global technological advancements. 

The future of GenAI in ASEAN looks promising, with government initiatives playing a pivotal role in shaping its trajectory towards a more innovative and economically vibrant region.

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This article is the sixth in a series from the ASEAN GenAI Startup Report 2024. GenAI Fund invests in early-stage GenAI startups across Southeast Asia, focusing on growth strategies and exit opportunities. Stay updated with new articles in this series by subscribing and following us on our channels. For more articles, visit: https://e27.co/category/reports/.

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Following its participation in the UOB FinLab’s GreenTech Accelerator 2024 programme, Circular Unite has secured pilot projects with UOB and its corporate partners. According to Emmanual Tay, CEO/Co-Founder at Circular Unite, this helps to validate the company’s solutions.

“For green tech in general, there is going to be a huge, rapid growth, especially in Southeast Asia (SEA) as more regulations trickled down from Europe and the US,” he tells e27.

“Many of these companies operating within SEA are part of the supply chain of larger entities from Europe and the US; that is where we will see more demand for solutions like ours.”

With a team based mostly in Singapore, Circular Unite helps businesses transition towards sustainability by focusing on the waste and recyclables they generate.

In this interview, Tay explains the unique challenges faced by the company in promoting its green tech solutions and how it is tackling them.

Also Read: Funding the green transition: Southeast Asia’s climate tech leaders of 2024

The following is an edited excerpt of the conversation.

What is the problem that your company aims to tackle with your solution, and why is your solution better than your alternative?

Our vision is to accelerate businesses’ transition towards profitable sustainability. We do that by empowering them with a data-driven solution that helps transform their waste and recycling activities into profitable and sustainable practices.

So, the problem that we are tackling in this space is that we address the lack of digitalisation in the waste management and recycling space, basically the fermented nature of the recycling processes and operations across various industries and various countries and regions as well.

Traditionally, waste and recycling processes are very manual and low-tech in nature. They are prone to human error and lack transparency and traceability, making it very difficult for businesses to track and report their waste streams accurately. It becomes increasingly evident that no such data needs to be transparent and that there needs to be a trust process in these predominantly traditional activities.

As a green tech startup operating in SEA, what challenges do you face in promoting this solution and convincing businesses that it is something they should be using?

Green tech, in general, is a relatively new space. In the past, there was not much focus on this area. But now, more than ever, there are many solutions [available in the market] because of regulations and compliance, as well as push from consumers and stakeholders.

Also Read: How to navigate the investment opportunity in climate tech sector

In our context in the waste management and recycling business, many companies are still relying on traditional and manual processes, and some of them may be hesitant to adopt new technologies. So, what we do is that for a lot of the companies, when we first started, we had to come up with proof-of-concepts (POCs) and pilot projects.

The POC and pilot projects demonstrate to them the actual ROI and the efficiency gained through all these data.

The next [challenge] will be, again, with waste and recycling being a very traditional business, there is not much data available for us to analyse. So, when I say my platform helps analyse waste data, we need data to begin with, right? We overcome this by helping our clients integrate some of these sensors into their activities.

This is a modular and scalable platform that can be easily connected to various equipment and systems already in place. Whatever infrastructure they have, our platform sits on top of it to help sensorise and provide that layer of data collection and analysis.

Lastly, there needs to be a lot of education and awareness so that people can understand this concept of waste digitalisation.

What are the barriers to your clients’ adoption of this technology?

ROI and cost-benefit analysis are things that they look at very often. So, with a new technology like this, it is very hard for them to compare and see, “Oh, how would adopting a solution like this help me save money or increase my manpower?”

Yes, there are companies that want to be the first to move, the first to try new things, but those are rare.

Also Read: How to navigate the investment opportunity in climate tech sector

What kind of organisations most of your clients are?

Currently, most of my clients are in the hospitality space: hotels, shopping malls, retail spaces, and manufacturers.

All industries generate waste and recyclables, so the question is which industry has the most problems managing them.

We also have a lot of inquiries from the healthcare and cultural industry as well.

What are your big plans for next year?

Partnerships will be the centre of our growth strategy.

We do have ongoing projects regarding scalability, and our plan is to scale our services and solutions not just in Singapore but also in Malaysia and Thailand.

In Malaysia, we will work with property owners like Sunway to help scale up our solution. In Thailand, we will work with the Central Group as well as some key manufacturers within the country. Then, in Singapore, we will continue to work with our hospitality stakeholders and onboard more hotel chains into this space.

We also have three ongoing projects with UOB FinLab GTA and are with the BSI Innovation Accelerator.

We are also building what we call the Circular Knowledge Library. It basically aggregates benchmarks, data, best practices, and industry know-how from various sectors and countries across different companies and industries.

Also Read: The Mills Fabrica aims to transform agrifood, textile industries through its climate tech investments

Currently, there is no unified platform that helps share or aggregate this information across various companies and industries, and we want to be the first in the market to have this.

Together with our AI capability, we will harness information from this Knowledge Library to provide alerts and customisable recommendations for different clients. This will allow them to benchmark their current performance.

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Image Credit: Circular Unite

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Crypto is much bigger than finances.

While the world is infatuated with crypto coins, chains, and gains, the revolutionary aspects of the new iteration of the Internet (Web3) are overlooked. Web3’s foundational open-source technology will change the world, not just cryptocurrencies. 

The focus of the industry, instead, needs to shift to open-source technology and its potential to decentralise not just the Internet but the global economy, financial markets and humanity. 

Open-source code and protocols aren’t just the future of the internet; it’s the future of evolution, opening up participation for anyone, anywhere. It’s the democratisation of success, where people in Silicon Valley and Singapore have equal opportunities. 

Web3 holds the key to unlocking opportunity in emerging markets, but significant challenges remain. In developing countries, there’s limited access to financial resources, infrastructure and internet issues, and a lack of funding and entrepreneurship spaces. For example, India had more internet blackouts in seven years than all other countries combined. 

These challenges hinder individuals in emerging markets to fully participate in the digital economy, further exacerbating inequalities and perpetuating marginalisation.

Bridging the digital divide

The transformative potential of open-source software in emerging markets is part of the Web3 narrative that the mainstream misses. By empowering individuals globally, open-source code extends innovation beyond traditional tech hubs, ensuring Web3 serves diverse, distributed audiences and spurs new use cases worldwide. 

Open-source code doesn’t discriminate or centralise capture. It creates a meritocratic environment accessible to everyone, where talent and creativity drive progress and innovation – not just in the Bay Area or tech hubs. 

For example, some resources list the top Web3 open-source projects that welcome contributors from around the world. 

With 1.1 per cent of people owning 45.8 per cent of the world’s economic wealth, open-source technology in the new iteration of the internet (Web3) is a pertinent social issue, too. 

India is a good example of how Web3 open-source initiatives are making a tangible impact and its possibility to drive future positive changes. Web3’s impact on India’s economy is predicted to hit US$1.1 trillion by 2032. In comparison, the US Web3 market forecast is US$69.24 billion in 2032. 

Also Read: The future of recruitment in Web3 era

Open-source software has opened up various use cases for Web3 in India, particularly where fraud and mistrust are rampant. The Delhi Forensic Science Laboratory (DFSL) and the Delhi Police integrated blockchain technology into their e-forensic application, creating an immutable and transparent record of the chain of custody for evidence. 

The release of the Indian government’s National Strategy on Blockchain has primed the country with the largest population in the world to embrace Web3 technologies.

A change of policies and perspective

The decentralised nature of open-source tech is challenging for governments and institutions, especially in Western countries. It requires conviction in crypto and a willingness to embrace a changing world. Most nations have inadequate regulation, further solidifying the need for open-source software for cross-border collaboration and innovation. 

The regions and jurisdictions that nurture this tech will become the innovation hubs of the future — with access to top talent, lower overheads and the conditions to redefine labor dynamics. For example, via Decentralised Autonomous Organisations (DAOs,) freelancers or completely anonymous workers. 

Indonesia stands out as a region leading digital transformation efforts, with its digital economy projected to reach US$130 billion by 2025, with a particular focus on blockchain’s potential. For the past several years it has maintained a status as one of the main blockchain markets in Southeast Asia.

This commitment extends to open-source technology, supported by initiatives like Indonesia Go Open Source (IGOS), a government-backed program promoting adoption to drive innovation and reduce software costs. Additionally, Asosiasi Teknologi Informasi & Open Source (ATIOS) fosters collaboration and development within Indonesia’s open-source ecosystem.

Just this year Indonesia’s Financial Services Authority (OKJ) introduced an updated roadmap for 2024-2028 that strengthens its position to support technological innovation, blockchain and digital finance development. The road map also ensures greater digital and financial safety for those involved in the space and improves transparency and efficiency across sectors. 

Also Read: How gaming innovations in Web3 are rewriting entrepreneurial playbooks

Compared to the more fragmented regulatory landscape in the US, Indonesia’s unified approach underscores its commitment to establishing a robust digital and open-source ecosystem, providing further evidence for the need for better policy and regulatory frameworks.

Open source, opening more doors

As with all technologies, it’s not a fix-all. Open source has criticisms and concerns such as reliability, liability, and support. However, there’s no doubting the transformative power of open-source technology in driving inclusivity and innovation in emerging markets. 

To build a truly equitable digital future, the industry must prioritise and protect open-source development. By investing in these initiatives, we can unlock opportunities for innovation, inclusivity and global economic growth.

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