Applied Ventures’s Global Head Anand Kamannavar 

Applied Ventures, a stage-agnostic venture arm of global semiconductor major Applied Materials, primarily focuses on artificial intelligence (AI), machine learning(ML), big data, energy-efficient computing, extension of Moore’s Law, advanced materials, advanced displays, software, and the broader semiconductor and display ecosystem. Established in 2006, Applied Ventures invests up to US$100 million in startups annually and has backed over 90 companies across 19 countries, including in Asia Pacific.

In this interview with e27, Applied Ventures’s Global Head, Anand Kamannavar, discusses the venture arm’s key focus areas, investment criteria, trends, and expansion.

Edited excerpts:

Can you share what Applied Ventures looks for in startups across different stages? How does being stage-agnostic influence your investment decisions?

Applied Ventures invests in startups from seed to growth stages. We support them through ideation, incubation, commercialisation, and scale by providing the necessary technology and know-how and making connections. We will invest and partner with startups regardless of their stage.

For early-stage investments, we look for scalable technical disruptions that enable new markets or disrupt existing markets, management’s plan to de-risk the technology with fast learning cycles, and ways that partnership with Applied can help the company reach their milestones efficiently.

For growth-stage investments, we focus on customer and revenue traction, unit economics, ability to capture value, management experience with scaling, strength and defensibility of intellectual property (IP), scaling up plans and ways that can help accelerate their growth through active partnerships with Applied’s business units.

How does Applied Ventures identify “disruptive technologies” in semiconductors, AI, robotics, and advanced materials? What criteria or signals stand out?

We identify disruptive technologies by working closely with the ecosystem across the Materials to Systems stack. As one of the key players in the broader semiconductor, display, and deep tech ecosystem, we have unique insights into some of the industry’s key high-value problems, and we then actively look for disruptive technologies that can solve these challenges.

We have a solid track record of anticipating trends early, seeing around the corners ahead of the curve and partnering with startups. A good example is our investments over the last few years in areas that are currently attracting significant investment, such as photonics, advanced packaging, and energy-efficient computing.

Also Read: From keypads to chips: How Polymatech advances semiconductors with sustainability at the core

Our criteria for investment have always been scalable technologies led by teams that understand the problem, identify effective pathways to reduce risks efficiently, and actively seek to partner with Applied Materials to mitigate these risks.

You invest up to US$100 million annually—what guides your allocation of these funds across regions or sectors, especially given recent global shifts in the semiconductor and deep-tech industries?

Our mission is to accelerate the development of cutting-edge technologies by providing capital, expertise, and connections to a global network of resources.

We also closely observe and respond to the evolving needs of the semiconductor and deep tech markets. We will prioritise regions and sectors based on the number and quality of startups driving disruptive innovation in our areas of interest.

The other element of our consideration in investment is the maturity of regional ecosystems with a strong focus and support in the semiconductor and deep tech startup scene.

Applied Materials is also present in 150 cities in 24 countries globally, which enables Applied Ventures to effectively identify, invest in, and support promising startups worldwide.

What role does Applied Ventures play in the broader corporate VC (CVC) landscape, and how do you see that role evolving in the coming years?

Applied Ventures plays a prominent role in the CVC and VC landscapes by leveraging our strong connections with Applied Materials, Applied’s customers, customers’ customers and supply-chain partners to drive scalable innovation in the semiconductor and deep tech industries. By actively collaborating with other CVCs and VC firms, we help portfolio companies reduce risk efficiently and promptly.

We are already expanding our global reach in markets like North America, Asia and Europe, fostering partnerships with local deep tech innovators, VCs, CVCs and collaborating with universities, accelerators and regional government entities.

We have also set up unique joint funds in Korea and Taiwan, and we plan to expand this model to other regions with local partners. We aim to remain a catalyst for deep tech innovation worldwide and help deep tech startups scale their ideas to create a significant impact through a collaborative ecosystem.

In the coming years, we will continue to focus on collaborating with emerging technologies and regional ecosystems, particularly in areas of interest mentioned above.

How does Applied Ventures leverage Applied Materials’s infrastructure and expertise to support early-stage startups? Can you share examples of how these resources have helped startups accelerate growth?

We provide startups access to state-of-the-art labs and R&D facilities globally, which are crucial for scaling deep tech innovations. We also have customer sites and collaborations in regions like Asia, the US and Europe, and we are expanding engineering and supply-chain capabilities in Singapore and India. These resources help startups accelerate growth by moving from lab-scale innovations to large-scale manufacturing.

Our collaboration with VVDN India has been a good example of growth-stage startup collaboration, where we partner with them to expand their role in the electronics value chain.

Beyond funding, what unique advantages or benefits does Applied Ventures provide to help startups navigate scaling challenges in deep-tech industries?

Applied Ventures leverages technical and industry expertise to accelerate startup ecosystems. Through the ASTRA (Applied Startup Technology & Research Accelerator) for startups in India, Singapore, Korea and Taiwan, we help identify and partner with relevant deep tech startups by offering consultation, joint development and investment opportunities.

We also connect startups with our network of customers, supply chain partners and co-investors (both corporate and financial VC and PE firms), providing access to new materials engineering and semiconductor technology innovations. Our global innovation infrastructure enables startups to validate high-performance devices and scale faster.

Also Read: Driving semiconductor innovation: AMD’s vision for AI and sustainability in Singapore

Finally, startups that work closely with Applied Materials gain financial support and the opportunity to collaborate with leading experts in various scientific fields, driving successful outcomes for our portfolio companies.

The latest ASTRA cohort focuses on critical areas like AI, semiconductors, and supply chains. How does this year’s cohort align with Applied Ventures’ broader goals and industry priorities?

This year’s ASTRA India/Singapore cohort aligns with Applied Ventures’s broader goals and industry priorities by focusing on AI, semiconductors, and supply chains. These are central to advancing deep tech and driving the semiconductor roadmap forward. By supporting startups in these fields, Applied Ventures fosters innovations that enhance energy efficiency, increase computational power, and drive technological progress.

Additionally, the emphasis on supply chain solutions addresses the need for resilient and efficient systems in a global market, aligning with the need to solve real-world problems and drive industry advancements.

Overall, this cohort showcases globally relevant startups with local home-grown innovations, in line with Applied Ventures’ strategic goal of advancing the industry.

What market or technological trends are most exciting to Applied Ventures?

Applied Ventures is excited about multiple markets and technological trends that align with our mission of using materials engineering (defined as atomic engineering on an industrial scale) to drive the semiconductor industry’s revenue from US$0.5 trillion to over US$1 trillion by the year 2030, as well as to address multiple opportunities that will shape the future.

Key trends include:

• The growth of AI, including Gen AI, and the need for energy-efficient computing to address the power consumption challenge for AI data centres in both training and inference applications. This includes advanced packaging, chiplets, heterogeneous integration, and thermal management solutions.
• Increased productivity through agentic AI and software bots that collaborate with one another.
• New manufacturing technologies that integrate robotics/cobotics, fab automation and the global supply chain.
• Quantum technologies (computing, communication and sensing) and the integration of classical and quantum computing models.
• The autonomy and electrification of vehicles, achieving internal combustion engine cost parity and Level-5 autonomy simultaneously.

What challenges do startups face in entering and thriving in the semiconductor ecosystem, and how does Applied Ventures help mitigate those challenges?

Startups entering the semiconductor ecosystem face challenges such as scalability, capital intensity, access to advanced facilities, regulatory and market dynamics, and talent acquisition.

We aim to mitigate these challenges by providing them access to state-of-the-art labs and fabs, financial support from seed to growth stages, expertise and collaboration with leading technologists at Applied Materials, a global network to connect with customers and partners, key talent recruitment and strategic guidance to align innovations with industry needs. This comprehensive support helps startups mitigate risks, drive innovation, and launch scalable products in the deep-tech ecosystem.

What is your perspective on the future of the semiconductor market, especially in relation to emerging technologies like high-performance computing, autonomous vehicles, and AI?

The future of the semiconductor market is incredibly promising, driven by emerging technologies like high-performance computing, autonomous vehicles, AI and the intersection of semiconductor and deep tech across multiple domains. One of our key focus areas is improving energy efficiency, which is crucial for enabling GenAI, as it consumes significantly more energy than traditional internet searches.

We are investing in both hardware and software innovations, including large science models for Physics, Chemistry and Materials science. With a strong portfolio in semiconductor and deep tech, Applied Ventures is well-positioned to collaborate with startups, particularly in India and Singapore, to drive innovation and efficiency in the semiconductor market.

With investments in over 19 countries, how does Applied Ventures approach global expansion? Are there specific regions you are particularly focused on for future growth?

Our approach to global expansion is based on experience and a strategic focus on deep tech. Our investments align with Applied Materials’s goals, focusing on the entire Materials to Systems stack, from lab to fab. We are particularly excited about the semiconductor and deep tech space and look forward to supporting groundbreaking innovations globally with a key focus on North America, Europe and Asia.

Also Read: SEA’s role in the global semiconductor supply chain is poised to strengthen: GlobalFoundries’s Siah Soh Yun

Across India, Singapore and Southeast Asia, we have seen the deep tech startup system grow significantly in the past few years, with many more startups in our interest areas of semiconductors, photonics, robotics, manufacturing, software and AI/ML/Big Data.

Singapore serves as the regional headquarters of Applied Materials in Southeast Asia and is our strategic regional hub supporting diverse functions across manufacturing, customer support, corporate functions and R&D.

Similarly, in India, since our humble beginnings as a small office in Bangalore in 2002, Applied Materials has grown to about 8,500 employees across multiple Indian cities, and we have strong collaborations with leading Indian Universities like IITs and NITs.

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From Digital to Traditional: Salmon Group’s Integration Strategy with Rural Banking to Enhance Financial Services

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TMY Technology (TMYTEK), a Taiwanese provider of millimetre-wave (mmWave) solutions, has raised US$40 million in its Series B funding round. Amazing Microelectronic Corp. and EZconn Corporation led the round, which was participated in by CDIB Capital Group.

The funding will accelerate the company’s global expansion plans and bolster its research and development capabilities. It will focus on optimising mmWave phased array antenna modules.

Also Read: From keypads to chips: How Polymatech advances semiconductors with sustainability at the core

TMYTEK, one of SparkLabs Taiwan’s portfolio companies, also aims to debut on the Taipei Exchange (TPEX) in 2025.

TMYTEK provides mmWave solutions for 5G/B5G and satellite communication applications. It offers innovative devices, beamforming development kits, phased arrays with antenna-in-package (AiP) technology, and over-the-air (OTA) testing methodology, enabling faster industrial innovation and time-to-market.

The firm’s technology is used in various applications, including 5G/6G communication networks, satellite communication, automotive radar, defence systems, and smart city infrastructure. TMYTEK’s phased array antenna modules and subsystems have become essential components in these industries, offering improved signal transmission efficiency and stability compared to traditional antenna technology.

Su-Wei Chang, founder and president of TMYTEK, said, “Our journey from a responsive problem-solver to a trusted technology partner reflects our dedication to mmWave excellence. Today, clients involve us at the earliest stages of their projects to define specifications collaboratively. Looking ahead, we will deepen our presence in Japan, Europe, and North America by working closely with global system integrators and leveraging Taiwan’s agile supply chain to showcase world-class design and integration capabilities.”

Also Read: Driving semiconductor innovation: AMD’s vision for AI and sustainability in Singapore

TMYTEK also aims to reduce energy consumption in its mmWave modules, contributing to a more sustainable future for smart cities and IoT applications. Its mission remains focused on technological innovation, collaborating with international partners, and leveraging Taiwan’s supply chain strengths to achieve its vision of “Designed in Taiwan, Achieved Globally.”

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(L-R) Unabiz CCO Loic Barancourt, CTO Alexis Susset, co-founders Philippe Chiu and Henri Bong, and COO Rémi François

Singapore-based UnaBiz, a provider of customised IoT solutions, has announced a strategic investment from Frank Phuan in its pre-Series C funding round.

The investment follows the closing of the first tranche of UnaBiz’s pre-Series C funding round led by KDDI Global Innovation Fund 3 and Kyocera Communications System in August this year.

Also Read: UnaBiz closes US$50M Series B round with investment from SPARX Group, others

This latest investment sees Phuan, co-founder of Sunseap Group, one of Southeast Asia’s largest clean energy solution providers, joining UnaBiz’s Board of Directors. His expertise is expected to amplify UnaBiz’s impact on global ESG initiatives.

Over the past two years, UnaBiz claims to have achieved significant growth, including a more than 10x increase in recurring revenue and adding over 5 million new devices to its global 0G Network.

“With their core technology Sigfox, UnaBiz is one of the rare deep tech companies that drive significant ESG impact through their innovative IoT solutions, especially in the energy and utilities sector,” said Phuan. “Their solutions not only deliver sustainable economic and environmental value but also help accelerate their customers’ journey towards net zero.”

Phuan brings a wealth of expertise in renewable energy and sustainability to UnaBiz. As the co-founder of Sunseap and the co-chair of the Sustainability Alliance of multiple Trade & Associations in Singapore, he has been instrumental in driving solar energy adoption and sustainable development across the region.

Launched in 2016 by Henri Bong, UnaBiz aims to provide scalable, energy-efficient IoT solutions for firms in critical verticals, such as aerospace, facilities management, F&B, healthcare, logistics, supply chain and smart cities.

Also Read: How to firm up your IoT strategy to combat online risks

UnaBiz claims to have connected one million security devices over the past year. It is now investing in partnerships with major automobile and motorbike manufacturers to scale its telemetry and anti-jamming services globally.

In 2022, UnaBiz secured an undisclosed sum in fresh funding led by Japan’s SPARX Group, with participation from G K Goh Holdings and Optimal Investment. It also acquired French IoT firm Sigfox 0G in the same year.

Earlier, it bagged over US$25 million in an oversubscribed Series B round led by SPARX Group through its US$700 million Mirai Creation Fund II.

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The shift towards remote hiring, skyrocketing during the pandemic, has shaped how companies operate from 2021 to late 2023. However, as some employers argue against the necessity of continued remote work, many remote hiring policies are on hold. Despite this, assessing the viability of remote hiring in 2024 remains crucial.

The question remains for 2024: Is hiring remote resources still a good choice for your business? Spoiler alert: it might be — or might not?

Pros: Every resource, everywhere, any price, all at once

Hiring without borders: The ultimate reason

• Global talent pool

The idea of a “local” workforce is becoming quaint. As of 2024, savvy companies are breaking free from geographical constraints, turning their hiring strategies global. A US-based tech giant can now seamlessly integrate AI specialists from Europe and data analytics teams from Asia, each bringing distinct insights and skill sets that are rare or unavailable domestically. Consider the broadened perspectives and the fresh, innovative solutions these diverse teams contribute.

It has also been a game-changer for many, especially those with disabilities for whom daily commutes and non-inclusive office environments were significant hurdles. The flexibility of location-independent roles means companies can retain highly qualified individuals who might otherwise exit the workforce.

• Strategic flexibility in hiring

The dynamics of local hiring are filled with challenges, particularly in terms of scalability and adaptability. Launching new products often necessitates tapping into new markets, which traditionally meant hiring locally and, consequently, facing the possibility of mass layoffs if market conditions shift or the company pivots its focus. This approach can tarnish a company’s reputation and morale.

In contrast, leveraging a global, contract-based workforce can provide the flexibility needed for businesses to scale operations up or down without the disruptive cycle of hiring and layoffs. Utilising hiring agencies or service providers streamlines this process, ensuring companies can adapt quickly to market changes or project completions with minimal disruption.

The financial upside

The freedom to choose between multiple hiring models—be it full-time remote employees, part-time consultants, or freelance experts on a project basis—provides a distinct advantage. This flexibility is precious for SMEs and startups, where resource allocation needs to be strategically managed to balance growth, sustainability, while still keeping everything budget-friendly.

Consider TrueCar, a Santa Monica-based company specialising in automotive pricing and digital retailing. In a strategic move, TrueCar reduced its physical office footprint by approximately two-thirds (and still aims to further downsize to just 4,000 square feet!) This reduction translates into substantial cost savings across various fronts, including office supplies, cleaning, and maintenance.

Companies. like TrueCar, find that the savings accrued from reduced physical office needs can be redirected towards enhancing their remote work infrastructure, resulting in better employee benefits, and a boost in overall operational efficiency.

Productivity booster

• Flexible hours

Remote work allows employees to choose their most productive hours, increasing efficiency and output. Recent studies from 2023 and 2024 confirm that when workers control their schedules, their motivation and engagement soar. Consider the case of a software developer who discovers their peak productivity spikes at dawn or in the still of the night. Who are we to judge his “9 to 5”? According to Microsoft, 87 per cent of hybrid employees say they’re productive at work.

• Strategic partnership

In the tech world, smart hiring means playing to your strengths—and sometimes, those of others. Partnering with specialists in niche areas can be a masterstroke for tech firms. It allows the internal team to stay focused on big-picture goals like expanding the market and engaging customers, while expert partners handle the nitty-gritty technical details.

This approach cuts down on time spent learning jargon and streamlines operations, letting everyone work at what they do best. It’s a win-win: the work gets done faster, innovation speeds up, and the company sharpens its competitive edge.

Also Read: How the tech industry is redefining the remote work culture

Employees matter: A touch on retention, satisfaction, and balance

• Work-life balance

The quest for work-life balance reshapes modern employment, with workers and companies reaping the benefits. Employees who enjoy flexible schedules are not just happier—they’re also driving their firms toward higher profitability. Data from the Flex Index and Boston Consulting Group highlights this trend, showing that revenues at fully flexible firms surged by 21 per cent from 2020 to 2022—quadruple the growth rate of their less flexible counterparts.

• Impact on mental health

The traditional “9 to 5 culture” often contributes to employee stress, with even minor annoyances. Ursula Mead, CEO and co-founder of InHerSight, points out that with such a “mental first” policy, companies now have a chance to treat their employees as whole individuals, committing to healthier work environments for everyone involved.

Furthermore, companies that adopt remote work often observe a decrease in employee burnout and turnover, which leads to a more stable and engaged workforce. The feedback from employees is clear—they feel less stressed and more satisfied with arrangements that respect their personal time and mental health.

Cons: The other side of the coin

Timezone is the real deal

• Miscommunication

Without the nuances and immediate feedback of face-to-face interactions, the intent behind written words can be easily misinterpreted, leading to confusion and conflict within teams. With that being said, a report by FlexOS highlights that 30 per cent of employees experience frustration due to unclear communication from their superiors.

• Time-zone differences

Another major hurdle in remote work environments is managing time zone differences, particularly with teams that span the globe. The challenge of aligning schedules is well illustrated by a scenario where a project manager in New York struggles to coordinate with developers in India and designers in Europe. These differences can result in significant delays and inefficiencies in project delivery.

To mitigate these issues, companies are finding it beneficial to ensure a reasonable overlap in working hours among team members. For example, Atlassian’s CTO, Rajeev Rajan, mentioned that on teams of around 150 engineers, ensuring a 4 to 6 hour overlap in schedules can drastically improve collaboration and efficiency.

Security is key

Remote work introduces additional security risks, such as data breaches and unauthorised access. Without the controlled security protocols of an office setting—such as secure networks and monitored access—home environments can become easy targets for data theft and cyber exploits.

Since the onset of COVID-19, the cyber threat landscape has evolved dramatically, seeing a whopping 238% spike in cyberattacks. Cybercriminals are quick to target the most vulnerable points, which now happen to be the numerous home offices set up in a rush during the pandemic. Add technologies like deepfakes into the mix, and the risk escalates; these tools can create eerily accurate impersonations of colleagues or executives, leading to sophisticated frauds that can deceive even the vigilant eye.

Managing remote performance

As we move deeper into 2024, organisations will be (as they should!) keeping tabs on employees in term of productivity and overall performance under flexible work conditions. Many companies are contemplating a return to office policies as a solution to close any gaps in employee engagement that have surfaced with remote work.

The data suggests a trend: when productivity dips, the knee-jerk reaction is often to bring everyone back onsite. However, this approach not only overlooks the benefits of flexible working but also needs to pay attention to potential strategies to enhance engagement without sacrificing the flexibility that employees value.

How do you know if your employees are actually working?

Yet, digital tools and management strategies can effectively replicate these benefits in a remote setting. Project management platforms like Asana, Trello, and Jira are instrumental in managers keeping a pulse on project timelines and individual contributions without the need for physical oversight. Beyond software solutions, implementing regular check-ins and thorough performance reviews helps maintain a dialogue between managers and team members, ensuring any concerns are addressed swiftly and performance stays on track.

People who are still doing it

So, back to the main concern: Is remote working a hit or miss?

It depends, one must say

That’s pretty much the playbook at Chicago-based law firm Chapman & Cutler. Led by Sarah Andeen, the head of library and research services, the firm operates on a flexible remote work policy tailored to the specific needs of different departments and client demands. This approach recognises that remote work isn’t a one-size-fits-all but rather based on each department’s needs and requirements.

Also Read: Rethinking remote work: The engagement issue at the heart of work-from-home

A hit

The strategy leans heavily towards flexibility for small and medium-sized enterprises (SMEs) and startups. These smaller, often more agile entities find great value in off-shore hiring and outsourcing, allowing them to start small and scale quickly without the overhead of large office spaces.

Rob Sadow, co-founder of Flex Index, suggests that as more firms emerge and existing office leases expire, the propensity for adopting flexible work policies is likely to increase. This shift is especially pronounced among newer, smaller companies that can maneuver more nimbly than their larger counterparts.

Statistics reinforce this trend, noting that those in tech and information sectors—predominantly based in tech hubs like San Francisco and Los Angeles—are leading the charge in remote work, with these areas seeing the highest percentages of full-time remote workdays, at 46 per cent and 40 per cent as of November.

A miss

Adapting to remote work isn’t equally feasible for all sectors. Large corporations, and industries that prioritise stringent security measures often find that traditional, on-site work setups are more advantageous. According to Code42, 76 per cent of information security experts anticipate an increase in data loss due to insider events. This underscores a significant challenge: the mere presence of security tools doesn’t guarantee their use by employees.

This gap in compliance is particularly critical in sectors where security and resource control are crucial. The risks linked to remote work, such as potential data breaches and the lack of direct oversight, can indeed overshadow the potential benefits. For instance, Tech.co’s 2024 report reveals that 59 per cent of employees admitted to not using a VPN provided by their employers, highlighting a significant lapse in adopting prescribed security measures.

However, despite all the pros and cons listed throughout this discussion, remote working remains a nuanced issue. Whether it proves to be a hit or a miss depends largely on the specific characteristics of a firm—its priorities, industry, size, and how well remote strategies align with its operational criteria. It’s always wise to keep all options on the table. Firms should consider maintaining a blend of on-site employees while also tapping into offshore and remote resources.

This balanced approach allows organisations to leverage the best of both worlds, adapting dynamically to changing business needs and market conditions. Ultimately, the goal is to ensure that the chosen work arrangements serve to enhance, not hinder, your business objectives.

Either way, the aim is to make it a win for your organisation, turning flexibility into a strategic advantage rather than a struggle.

—

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In marketing, the latest trends often lead us astray. Right now, AI is the oversold silver bullet. Whether it’s automating campaigns, creating content, or optimising customer journeys, AI has become the shiny new toy in the marketer’s toolbox. 

While AI is powerful, it isn’t magic. Marketers who fully drink the AI Kool-Aid may end up overlooking the human elements that make their strategies effective.

So before we automate everything, let’s consider a more balanced approach in integrating AI into our marketing efforts.

Confusing automation with strategy

Marketers love automation because it promises to make our lives easier—automate your email campaigns, predict customer behaviour, and optimise ad spend. I’ve been in the same boat.

For instance, manually sending out hundreds of tailored pitches would usually take me about three days. With the help of an AI-powered tool, I was able to automate this process and finish in just a few hours.

But automation doesn’t equal strategy. 

Many of us have been there: we set up an automated campaign, watch it churn out results, and pat ourselves on the back. But what happens when the numbers aren’t aligned with the brand’s goals?

AI tools can crunch data and suggest next steps, but they can’t understand your brand’s story, your audience’s pain points, or the cultural nuances. The danger is that automation can lead to a “set-it-and-forget-it” mentality, resulting in tone-deaf campaigns that lack human touch.

The AI-generated content myth

There’s a common misconception that AI can take over content creation entirely. Sure, AI tools can write emails, create blog posts, and even generate social media content, but does it hit the mark? 

In marketing, storytelling is everything. It’s how we connect emotionally with audiences and differentiate our brands in a crowded marketplace. Instead of using AI to replace creative thinking, we should see it as a tool to enhance our creativity. Let the AI handle the repetitive stuff, but keep the heart of the content creation process human.

Also Read: How to drive business innovation with AI-powered data analytics

Overestimating data-driven insights

AI thrives on data. It processes massive amounts of information and can uncover trends that marketers might otherwise miss. But data is only as good as the person interpreting it. AI can point you to numbers, but it takes a human mind to find meaning in them.

I’ve seen AI-driven insights that looked promising on paper, but once you dig deeper, the real question remains: why? AI can tell you which posts performed best and which audiences are engaging, but it doesn’t understand the context or the emotional drivers behind those behaviours.

Setting unrealistic expectations for AI

There’s another issue here: unrealistic expectations. Some marketers are so enamoured with AI’s potential that they expect it to solve all their problems. But AI is a tool, not a miracle worker. 

When we put AI on a pedestal, we risk overlooking what really drives successful marketing campaigns: creativity, empathy, and the ability to adapt to change. AI doesn’t understand your customer’s fears or aspirations—only humans do.

Building a smarter AI-powered strategy

So, should we ignore AI altogether? Absolutely not. AI is an invaluable tool for marketers when used wisely.

Start by understanding the specific problems AI can solve for your team. Automate where it makes sense, but keep the critical thinking and creative work in-house. Use AI to gain insights, but rely on your team’s expertise to make those insights actionable. Don’t let AI steer the ship—your brand’s vision should guide your strategy.

Ultimately, marketers should use AI to complement, not replace, the human elements of marketing. AI can help streamline processes, but it can never replicate the creativity, empathy, and adaptability that only human marketers can bring to the table.

After all, no algorithm can ever replace the power of genuine human connection.

—

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I launched Statrys in 2018 to solve a very simple yet critical problem: offer a user-friendly and safe payment and FX platform for companies and entrepreneurs across Asia. In 2022, we were voted the best payments and collections service in Hong Kong.

I have learned a few things along the way that I am happy to share with you here. 

Before you start

Welcome risk

Starting a business is a journey full of ups and downs. Risk is central to the experience. 

If you want to start a business, you should be comfortable facing risk and responding to it in a productive way. See it as something that helps you focus rather than a stress factor threatening to undo your efforts. It is a friend, not a foe.

Study your business idea to death

You want to act on a ‘good’ idea, but not all ideas are good. Latching onto a ‘bad’ idea can result in failure spread out over time.

How do you know when an idea is good? Sit on the idea for a while and study it. Gauge the scope of the project, take time to identify the market, and understand if there is real demand for the product or service you want to offer.

If you’re launching in an industry you’re familiar with, you will have an edge. You can read the market faster and call on your expertise. 

If you’re considering starting a business in an unfamiliar industry, be prepared to do the extra leg work, as I did with Statrys. I was previously a lawyer. I studied the fintech market to death and concluded I was on to something good. 

Be surrounded

Team up with a business partner or associate to increase your chances of success. My best associate is my wife. She is someone I can share my daily experiences with, but also someone who supports me emotionally and with the financial risks I take. 

If you don’t have a partner, look for someone who will complement you. Not a like-minded person but someone who has a different vision and background than you to help broaden your thinking and the business’ scope.

It’s all about timing

To ensure the timing is right to launch your business, evaluate the opportunity cost of launching. Ask yourself the following questions:

• Is this the right time to get started?
• How long is my runway to market launch? Do I have enough financial resources to last the first months? 
• Can I measure my burn rate? 
• How long can I last without receiving revenue? 
• When do I expect to start making revenue, and how much will it be?

If you take the time to evaluate the opportunity cost of launching, you will be better prepared for any bumps in the road ahead.

Choose your location

Asia has become an attractive region to start a new business, with Hong Kong and Singapore at the top of the list. Keep in mind both cities have high costs of living, which could impact your operating costs.

Hong Kong is the standout city for starting a business. It offers many advantages, including a vibrant business environment, an international financial hub, an attractive tax regime, and it acts as a gateway to the Chinese market. 

Also Read: How to balance rapid growth and sustainability as a startup founder

Getting started

Test the market

Before launching, I recommend testing the market to see what kind of reaction you get. If you have not heard of a minimum viable product (MVP), now is the time to get acquainted. 

An MVP is a minimalist, functional version of a product, interface, or service. It allows you to target your customer and learn about their experience quickly and inexpensively. You can make any necessary adjustments before taking a deeper plunge.

To raise or not raise funds?

It is not necessary to raise funds when you start a business. A lot of groundwork and research can be done with minimal out-of-pocket expenses.

Of course, fundraising is likely to accelerate the growth of your company. But that’s exactly what it should be used for acceleration. Not getting started. Get the foundations right before you expand.

Measure performance

Define your KPIs

Having clear Key Performance Indicators (KPIs) in place will help you to pilot and manage the evolution of your business. 

Create KPIs that are measurable. To be measurable, you need data. For example, some measurable KPIs could be:

• Customer satisfaction: are customers happy with your product or service? Ask them to rate your product or fill out a survey.
• Customer lifetime value (CLV): CLV refers to the total income a business can expect from a customer. How many services does he or she use? How much is spent? 
• Automating operations: what processes can you automate, and how can you measure the improvement? 

Data will help you to refine and evolve your KPIs over time, and it will hold you accountable.

Listen to weak signals

Pay attention to what I call ‘weak signals’. Listen to what is NOT being said around you. For example, navigation company TomTom identified a weak signal in an online UK forum where customers were complaining about connectivity issues. The company resolved the issue and improved its product development processes as a result.

Weak signals are a good source of data to guide you, and they can also help you realise when to leave a project. If you are NOT hearing the right things, be prepared to swallow your pride and move on. 

Key takeaways

• Be ready to take risks.
• Make sure the time is right to launch. 
• Choose the best location.
• Test, test, test.

With the basics in place, you are setting yourself up for success.  

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This article was first published on September 25, 2023

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As the startup tech ecosystem evolves, understanding the motivations and expectations of a younger workforce becomes crucial as they will be our future. This article explores how leaders can adapt to these changes, leveraging intergenerational collaboration and technology to drive both short-term productivity and long-term success.

Changing landscape in the tech and startup ecosystem

The startup tech ecosystem is undergoing a profound transformation, driven by the rapid pace of technological advancement and shifts in workforce demographics.

Characterised by its relatively young workforce, the sector is increasingly led by founders in their 30s and 40s who are adept at using modern tools and technologies to enhance sustainability and efficiency. This adoption is particularly appealing to younger employees, who not only value freedom and flexibility in the workplace but also want their work to be meaningful.

Countries like Singapore, with their ageing population, face unique challenges in maintaining a robust workforce. With a median age of 43 years, there is a growing need to attract young talent from neighbouring countries like Malaysia and Indonesia. These have larger youth populations and are eager to catch up with more mature and trend-setting markets like Singapore.

This import of talent brings its own challenges and opportunities: Workforces become diverse, with different expectations, cultural backgrounds, and communication styles. Another example of a diverse and evolving workforce landscape is Australia, where 30.7 percent of the population were born outside the country. In Singapore, non-residents make up 29 per cent of the population.

Motivations and expectations of the younger generation

The younger generation has elevated expectations for their work environment. They value the freedom to work from anywhere, though this flexibility can sometimes be complicated by time zone differences. In Singapore, new rules were introduced to make flexi-work more widely available. These become law as of December 2024 and are a result of the impact of past years and rising demand from the workforce.

From my personal experience working with the younger generation for the past recent five years, their preference is towards a more lateral decision-making process, where they can be part of the projects and processes from start to finish. Compensation expectations are high, often gravitating towards startups that have received significant funding.

From my observation, as these younger talents change jobs and move from a startup to a more corporate entity, they often find themselves in an environment that is characterised by more rigid and hierarchical structures, set processes, and a more conservative corporate culture.

Also Read: Are you a human resource?

For matured companies, this can result in talent retention challenges as the younger workforce seeks environments where they can continue to work freely ‘from anywhere’ and have flexible arrangements, yet still making impactful contributions without being limited by bureaucratic structures that may hinder their personal progress or goals.

Additionally, the younger workforce (late 20s and 30s) (also seen in my current community work) often embrace innovative technologies like generative AI (gen AI) with enthusiasm, leveraging it to streamline workflows, facilitate communication, and explore creative problem-solving approaches. Driven by a desire to do things differently, as well as their curiosity and comfort with new technologies, they are more likely to experiment with gen AI tools and incorporate them into their daily tasks.

The generational divide

In contrast, older generations may approach gen AI or new technologies with more caution, sometimes feeling overwhelmed by its complexity and potential to disrupt traditional job roles, if they are from a non-technical background. The generational gap in technology adoption can lead to challenges in creating a cohesive work environment, where not all employees are equally comfortable with the introduction of new tools.

What the workforce (late 40s onwards) do bring to the table, however, is experience and wisdom in many areas. The knowledge and skills they have accumulated over time, through both successes and failures, are invaluable for startups and tech companies, aiding them with proven strategies and compliances matters.

Leaders who rely solely on the less experienced, younger workforce for their indisputable drive for innovation and curiosity miss out on this wealth of experience and the know-how of the mature workforce. The art is to attract and retain talent of all ages and experience levels, enabling them to learn from each other and work together. The aim is a collaborative environment that instills accountability through action.

How to bridge the generational divide

Consequently, leaders must navigate and bridge these generational dynamics carefully to effectively manage an evolving workforce and embrace technology adoption like AI. Some key suggestions for leaders:

• Foster fair communication and open-mindedness as a part of the corporate culture.
• Focus on talent and the value people bring rather than age when hiring.
• Allow for a cross-pollination of ideas and execution across the board.
• Create opportunities for employees from different departments to interact and learn from each other during team building sessions.
• Encourage modern technologies, like AI tools, and incorporate them into the work environments. This can be achieved through training and the actual implementation of use cases.
• Set up multiple approaches for rewarding and recognising employee achievements, performance, and contributions.
• Be open to change and the need to reevaluate team dynamics to reach a common goal.

Also Read: What are the benefits of a culture based leadership style?

Long-term businesses benefits

Adapting to the changing landscape and meeting the expectations of a diverse workforce can yield significant benefits for businesses in both the short and long term.

In the short term, addressing immediate challenges — such as communication barriers and technological adaptation — can improve productivity and team cohesion.

In the long term, building a track record of inclusivity and encouraging innovation can enhance the company’s reputation, making it an attractive place for top talent and progressing towards the company mission.

Furthermore, fostering a healthy environment for different generations at different learning stages leads to personal growth for employees and a more agile, adaptable business. Those who successfully integrate a diverse perspective are better equipped to innovate and respond to market changes, ensuring sustained success for the organisation.

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Funding the Future: Navigating Emerging Sectors and Investment Opportunities

Echelon Philippines 2024 hosted a panel discussion titled ‘Funding the Future: Navigating Emerging Sectors and Investment Opportunities’, shedding light on the growth potential of emerging sectors and strategies for startups to secure funding. The session brought together key investment leaders to discuss opportunities and challenges in the Philippine market.

Moderated by Adriel Yong, Head of Investments at Ascend Network, the panel featured Joseph de Leon, Founding Member and Lead Investor at Manila Angel Investors Network; Franco Varona, Managing Partner at Foxmont Capital Partners; and Rishab Malik Partner at Jungle Ventures.

The discussion covered sectors like agritech, B2B SaaS, and healthcare, emphasising their alignment with venture capital (VC) trends in the Philippines. Leon highlighted his experience in mergers and angel investments, stressing the critical role of founder resilience.

Also Read: Echelon Philippines 2024: The funding landscape for Filipino startups

Varona shared Foxmont Capital’s focus on climate tech and agritech, noting the government’s supportive policies. He also predicted increased M&A activity with Japanese firms. Malik detailed Jungle Ventures’ approach to assessing founder-market fit and spotlighted a recent investment in blockchain-enabled remittance technology.

Panelists concurred on the immense potential of fintech, agritech, and climate tech, while also acknowledging the mental health challenges faced by founders. They emphasised the importance of robust founder-investor dynamics and adaptive strategies to attract funding in a competitive landscape.

The session underscored the Philippines as an emerging hub for innovation, backed by local and regional VC interest and an evolving entrepreneurial ecosystem.

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

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