Sustainability has become one of the top business priorities in the past years, and 2024 is no exception. As companies adopt sustainable tech with increasing urgency, we’ll see the rise of more sustainable tech startups entering into the game. With more businesses adopting new technologies to reach sustainability goals, investors will also continue to accelerate the development of these new and exciting solutions.  

However, according to Accenture, 40 per cent of CIOs cite a lack of solutions and standards as a critical obstacle in their sustainable tech strategy — a gap that startups are poised to fill. Businesses will increasingly tap into an ecosystem of startups to harness technology in completely new ways, solve crucial problems and deliver sustainable outcomes.

At The Mills Fabrica, we believe that sustainable tech startups play a critical role in protecting our planet. From creating dyes for clothes from DNA sequencing and nature’s own colours, using automated micro-factories to create carbon-conscious apparel, to deriving sugars from fibres of agricultural side streams, startups deliver groundbreaking solutions which, with the right investment, partnerships, and implementation, can be adopted en masse to drive change and social good across communities.

While there is much potential, there is a looming recession on the horizon, and securing investor backing becomes more crucial, yet more difficult. Sustainable tech startups will need to demonstrate they are ready for success, with a well-defined possibility for growth, financial resilience, and an innovative product and go-to-market strategy that is different from competitors. 

When evaluating startup investment opportunities as an investor, here are some key factors to consider:

Identifying problem areas and making your impact tangible

Investors will inevitably prioritise how startups offer solutions to vital problems. Sustainability and planet-positive actions must be “baked” into a startup’s business strategy from the get-go, with ways to show that solutions are delivering tangible results. 

Startups must not only be able to articulate their positive impact on the general environment, but also how they can help their customers and partners accelerate their sustainability goals. It is also important to utilise comprehensive and rigorous tools to define goals and report impact metrics. 

The more we speak a ‘common language’ using such tools, the more effective and impactful our work can become. This also puts your goals in clear terms for investors worldwide. For example, startups can get started with the Stockholm Resilience Centre’s Planetary Boundaries Framework, which is a scientific approach that defines the safe operating space for humanity within Earth’s natural systems.

Also Read: How Alternō’s vision is changing the energy landscape with sand batteries

It lists nine planetary boundaries that must not be crossed to avoid irreversible environmental changes, including climate change, human pollution, and freshwater availability, among others. A startup can make use of this framework and showcase how their solutions can create a holistic impact on the planet’s wellbeing. 

Stand out from the competition

To stand out from the sheer volume of competition, resilience and creativity is key. Fundraising may be more competitive than ever, but startups can source for research and grant opportunities beyond VCs, like those provided by governments and corporations looking to drive technological disruption. Startups can also look out for project funding at various stages of their development, including during the infrastructure-building phase.

The Singapore government, for example, sets up multiple grants to start-ups, such as the Early Stage Venture Fund (EVSF), which provides financing to early-stage startups in Singapore to support their growth and help them scale up their business. Under the ESVF, The NRF invests US$10 million on a matching basis to seed corporate VC funds that invest under this initiative in Singapore-based early-stage high-tech companies.

Aside from capital, incubation programs by organisations dedicated to helping bring sustainable tech to the forefront, like The Mills Fabrica, could also provide extensive support from industry connection market exposure to potential clientele. 

Taking advantage of various schemes and support from the private and public sectors, in addition to a solid fundraising strategy balancing all capital opportunities, will signal to investors that founders are savvy, well-connected, and have clear, attainable milestones along each step of the growth journey. 

Local problem-solving with global scalability 

Investors want to know how startups can grow so they can get returns on investment. A startup’s capabilities to address environmental challenges at a local level while having a clear plan to scale up regionally or globally will become a key consideration, especially for enterprises and investors. This indicates the potential for widespread impact and growth on the consumer level, enacting genuine difference for our planet.

Also Read: Balancing act: Carbon Balance’s quest to tackle climate crises with tech-driven sustainability

For example, Colorifix, a startup that pioneered the first entirely biological process of dyeing textiles, offers a unique solution to incumbent technologies that completely cuts out the use of harsh chemistry and leads to huge reductions in energy and water consumption. It brought bio-based dyes to mass consumers with popular brands like Pangaia and H&M.

Another startup, unspun, aims to reduce global carbon emissions by at least one per cent by using automated, localised, and on-demand manufacturing for jeans. With the textile and apparel industry contributing 8-10 per cent of global greenhouse gas emissions, every step counts.

Building the right bridges and educating the wider ecosystem

It should be a responsibility for all startups to prioritise educating different players in the ecosystem about sustainable innovations. Sustainability is a collective effort, and only by working cohesively with ecosystem players can we bring forth impactful changes in lifestyle habits for the betterment of our environment. 

Startups need to look beyond their own four walls to solve problems in the wider world. Apart from honing their solutions, they need to understand what corporations and the wider industry, including regulators and funding firms, are looking for.

Active participation in industry conversations, awards, and events shape a well-rounded worldview that can help startups build not only credibility, but also strong value propositions and become agile, solution-oriented partners.

While developing a new solution from the ground up may be a daunting task, resilient entrepreneurs will be able to continue the pipeline of innovation and weather any economic condition. It’s by making genuinely measurable impacts, being self-sufficient and resourceful, and fostering ecosystem-wide connections and partnerships, a startup can innovate to bring a truly planet-positive product to the market.  

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

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The Indian Army heavily relies on the age-old practices of using porters and mules to move essentials in challenging Himalayas terrains. While there are nearly 15,000 porters employed for the purpose, they can carry out only up to three trips per day. Winter is often more challenging for the movement of essentials, forcing troops to eat frozen food.

“Imagine the soldiers who protect us and our nation day and night not getting fresh food. Isn’t it a misery?” asks Satyabrata Satapathy.

It occurred to Satapath, an avionics engineer, that aerial mobility could help address this burning problem. He discussed this opportunity with his friends in aerospace and joined hands to develop heavy-lift electric aerial vehicles or logistics drones.

Also Read: Equatorial Space is on a mission to make space launches cost-effective and eco-friendly

And that was how BonV Aero was born.

BonV Aero, based in Orissa (a state in northeast India), was founded by Satapathy (CEO), Gaurav Achha (Co-CEO), Abinash Sahoo (CTO), Rahul Kumar (Chief of Design), Sultan Khan (Chief of Manufacturing) and Umang Rathi (Chief of Operations), who collectively bring diverse expertise from renowned companies like Asteria Aerospace, Bosch Automotive, and ISRO.

The startup aims to revolutionise aerial mobility through cutting-edge electric vehicles for goods and passenger transportation. It has developed heavy-lift aerial vehicles for quick logistics movement in hilly, challenging Himalayan terrains.

The aerial vehicle is capable of carrying 50 kilos over ten kilometres at 10,000 feet in hilly regions. Thanks to its self-flying technology, this innovative vehicle operates autonomously without constant pilot intervention. Its in-house propulsion system ensures efficient flights in extreme weather and high altitudes.

“Our self-flying technology is an advanced system integrated into its aerial vehicles, enabling autonomous and intelligent flight operations. This technology leverages innovative flight software, terrain-following capabilities, adaptive payload management, and auto-path generation to achieve a high degree of autonomy in the operation of the drones,” he explained.

BonV has already garnered interest from the defence sector, disaster relief organisations, emergency medical services, logistics, and quick commerce deliveries, claims Satapathy. These vehicles cater to specific needs by efficiently transporting goods and supplies in challenging terrains, enhancing disaster response, facilitating emergency medical transport, streamlining logistics operations, and providing a unique solution for rapid deliveries in the quick commerce sector.

So far, the startup has secured orders worth INR 15 crore (US$1.8 million) from India Defence, Satapathy revealed. “The heavy-lift electric aerial vehicles developed by BonV are tailored for challenging terrains, especially in the Eastern Himalayan region. Military collaboration is pivotal in shaping the company’s future as it allows for real-world product trials and validation, further supporting logistical arrangements for such trials at remote places and ensuring that the technology meets the stringent requirements of defense logistics. This collaboration will help in the quick development and validation of the technology and also open avenues for defence contracts, strengthening BonV Aero’s position in the defence and aerospace sectors.”

The firm, which is conducting product trials with the Indian Arm, sees its technology contributing significantly to defence logistics by providing efficient and rapid aerial mobility solutions.

Also Read: Being prudent in spending should be at the heart of every management conversation: Aerodyne CEO

BonV Aero was one of the top 3 finalists on “Meet the Drapers” TV show. According to Satapathy, this feat has significantly impacted its growth and visibility.

Last month, the startup secured US$700,000 in a funding round led by Inflection Point Ventures. The capital will be primarily directed towards client demonstrations, team expansion and internal R&D focused on enhancing products for customers, researching propulsion systems and advancing power plants.

BonV Aero aims to achieve several key milestones in the near future, including the successful completion of product trials with the Indian Army, delivery of the ordered logistic aerial vehicles, and expanding its presence in the defence sector. “To scale operations beyond the initial trials, we plan to focus on securing additional contracts, scaling up production capacity, and exploring opportunities in other sectors such as disaster relief, emergency response, and commercial logistics. Strategic partnerships, continuous innovation, and efficient execution will play crucial roles in achieving these milestones,” he added.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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If you are alive in 2024 (and given you are reading this blog, chances are that you are), you have to know a founder or two. And if you live in Bengaluru, it’s likely your local Barista, your ex-girlfriend, and your high-schooler neighbour are working on a startup idea — together. 

So, given this surfeit of founders in your vicinity, you probably know by now what to say to get them grinning from ear to ear. (Ask them about their first-born, first-born startup that is, compliment them on their CAC, the usual). 

But did you know that there are some things you absolutely must NOT say?

Yes, today I am here to talk about those questions that you must never ask a founder, no matter how strongly you feel the urge to. 

Treat this guideline as precious insight into a befuddling group of individuals or as insurance for when the founder in your life hits the big time. 

So how is it going?

The “it” in question is the startup. 

Now we understand the intent, we really do. People want to show interest, bless them. And they probably expect a platitude in response, such as “Oh, you know, same old” or “Things are ok, can’t complain”. Corporate folks have fine-tuned these responses to an art form, let’s give credit where it’s due. 

But ask a founder how it is going, and you will witness a breakdown. 

While you chomp on your starter, waiting for a banal response that allows the table to move on, the entire life of a founder will flash in front of their eyes. Metrics will come to their fevered mind, an update on funding perhaps, or the latest organizational challenge? Caught between their many avatars, the hapless founder will wonder which one to trot out for this audience — the optimistic, the brazen or the honest. And if they are given to reflection, they may even start pondering the very question — how, indeed, is it going? 

In short, their brain will short-circuit, and before you know it, you will have one frazzled founder on your hands, who either won’t talk or won’t stop talking. 

Also Read: Why finding your co-founder is a lot like meeting your soulmate

So my suggestion is to attempt at your own risk. 

When are you retiring?

Now, I know there are people who plan their lives around their financial goals. They share analyses about money to save up by varying ages of retirement. They buy homes and dream of buying more homes. 

None of them are founders. For, founders don’t have financial goals. They have financial hopes and financial dreams, which are often nested in the ambition they have for their companies and a byproduct of their efforts towards realizing them. 

That ambition could be big or small, slow or fast, but either way, it does not involve a steadily accumulating nest egg to keep you warm and cosy through the uncertain nights. 

How was your vacation?

Now, I have to admit I am more privileged than most, and with my partner being one of the steady paycheck types, we do go on vacation.

But no one can accuse me of enjoying said vacation. 

Founders don’t let go, they don’t relax, they don’t enjoy breaks. Oh, it’s possible they may not always be hustling towards a deadline or making pitch decks, but vacate. They simply do not. 

The red of the setting sun reminds them of the red in their PnLs. White sands are reminiscent of the white spaces yet to conquer. And every fellow vacationer is a prospective client, yet untapped.  

So the next time you ask a founder about their vacation, don’t pay heed to the words but look into their eyes, look under their eyes, and ask yourself if that harried countenance is indeed that of one who has enjoyed relaxation recently. The answer will be obvious. 

And finally…

What about your funding?

Let it come to you, dear people. When the founder is ready, they will happily break it to you. 

Otherwise, you run the risk of spending your night listening to their woes. And no one who didn’t expressly sign up for it should have to subject themselves to the trials that befall a founder on their funding journey. It would unstoic a stoic. 

Also Read: How to split founder equity without splitting up

Well, I am only kidding. 

You can ask a founder anything. Used to being asked why we are not growing at 10x speed and why we aren’t profitable, in the same breath, we can field anything and everything with ease. 

And no matter what I say here for fun, to evoke laughs, we do enjoy this wild, tempestuous roller-coaster. That is, once the head stops reeling. 

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

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Marketing strategies have undergone a significant transformation in the evolving digital landscape. Businesses can create highly tailored experiences that resonate with individual preferences by leveraging customer data.

However, this shift toward personalisation has brought privacy concerns to the forefront as consumers grow increasingly cautious about how companies collect and use their information. As a result, marketers must find a balance between delivering personalised experiences and upholding stringent privacy standards.

The value of personalised marketing

Personalisation tailors interactions to meet individual preferences and needs, making each customer feel uniquely valued. For instance, a survey in the Asia-Pacific region found that 30 per cent of respondents felt an increase in trust toward brands that effectively used technology to personalise their experiences.

This marketing approach can take various forms, such as product recommendations and customised email marketing campaigns. These methods improve the shopping experience and strengthen the customer-brand relationship.

Respect opt-in and consent

Obtaining explicit consent from customers before collecting and using their data is crucial in today’s privacy-conscious environment. This practice aligns with legal requirements, and fosters trust between consumers and brands.

Interestingly, research shows that 71 per cent of consumers expect personalisation and will disclose their data to receive targeted messaging that aligns with their interests and preferences. Prioritising explicit consent helps companies comply with privacy laws and build stronger customer relationships.

Understand that transparency is vital

Being open with customers about collected data and its usage offers numerous business benefits. This transparency builds trust, which is critical to client relationships, as it reassures people that companies handle their information with care and respect.

Also Read: How data can be used to empower mental healthcare in Asia

Moreover, customers who understand how their data contributes to personalised experiences are likelier to feel valued and see the relevance of sharing their information. Such openness aligns with ethical practices and compliance with privacy regulations and enhances consumer loyalty and confidence in the brand.

Use data wisely

Businesses should focus on collecting only the essential information to enhance the customer experience and use data effectively for personalisation without violating privacy boundaries. Implementing robust data governance policies, including who is responsible and what tasks they perform, helps boost consistency and efficiency in data management while reducing confusion.

Anonymising and aggregating data can protect individual identities while providing valuable insights for personalisation strategies. Moreover, giving customers control over their information — like options to opt out of data collection or customise their personalisation settings — can further guarantee personalisation efforts are respectful and transparent.

Invest in privacy-friendly technologies

Adopting technologies that enhance personalisation and safeguard user data is essential for modern businesses aiming to deliver exceptional customer experiences without compromising privacy. AI and machine learning can analyse behaviour and preferences in real-time, offering personalised recommendations while securing individual information.

Blockchain technology offers another layer of security, enabling transparent and tamper-proof storage of customer data. Encouraging such technologies guarantees businesses can build trust and loyalty by demonstrating a commitment to protecting their information.

Regularly update privacy practices

Regularly reviewing and updating privacy practices is crucial for businesses to stay aligned with evolving regulatory changes and shifting customer expectations. This proactive approach ensures compliance with the latest data protection laws, which can vary across different regions and over time.

Keeping privacy policies updated demonstrates a commitment to data security and respects customer privacy, enhancing trust and credibility. By staying informed and adaptable, businesses can effectively navigate the complex landscape of privacy regulations.

Focus on value exchange

People are more inclined to share their data when they perceive clear value is crucial. This exchange of information for personalised services or benefits can enhance the customer experience.

Also Read: Innovation in HR: Hacking Talents’s journey in personalised professional development

However, a notable concern is that 45 per cent of consumers distrust companies handling their website behaviour or cookie data, highlighting the need for transparency and value in data exchange practices. Businesses that effectively communicate the benefits of information sharing can mitigate distrust and encourage a more open and mutually beneficial relationship.

Leverage anonymous personalisation

Behavioral data — like purchase history or website interactions — can tailor recommendations and content that resonate with individual preferences. Contextual data — like device type or location — refine personalisation by adapting experiences to the customer’s current situation.

Companies can guarantee personalisation efforts are not intrusive and maintain customer anonymity by focusing on anonymised or aggregated data. This approach maximises the relevance of personalised content and offers without directly accessing or exposing sensitive personal information.

Personalise with security first

Businesses must prioritise the security of their data infrastructure to safeguard against breaches and unauthorised access as the sophistication of cyber threats evolves. For instance, in 2022, Vietnam experienced a high frequency of phishing attacks, impacting over 17 per cent of its internet users.

This statistic underscores the prevalent risk of data security threats worldwide. Investing in advanced security technologies — like encryption, multifactor authentication and continuous monitoring systems — lets businesses create a secure environment that protects customer data from such attacks.

Balancing personalisation and privacy in marketing

Marketers must adopt these strategies to enhance their marketing efforts and protect customer privacy. Balancing personalisation with privacy considerations helps businesses build deeper trust and loyalty among their audience, improving consumer relationships and brand reputation.

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

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva

The post Balancing personalisation and privacy in business marketing appeared first on e27.

Dear reader,

The reported victory of Prabowo Subianto in Indonesia’s presidential election signals potential shifts in economic policies, particularly in the realm of startups and the digital economy.

Subianto’s proposed loan scheme for tech businesses, drawing from government funds, reflects a commitment to fostering innovation and entrepreneurship. However, the success of this initiative will hinge on careful scrutiny to ensure equitable distribution and effective utilisation of resources.

Moreover, the emphasis on attracting foreign investment through regulatory simplification and incentives underscores Indonesia’s desire to enhance its position in the global market. By addressing concerns such as the need for parent entities in neighbouring countries, the government aims to create a more conducive environment for domestic startups to thrive.

The continuity of certain policies, such as the ban on direct social media transactions and the prioritisation of electric vehicles, indicates a strategic alignment with ongoing trends and challenges, emphasising sustainability and technological advancement.

Overall, Subianto’s presidency holds promise for driving economic growth and innovation in Indonesia. However, the successful execution of these plans will depend not only on policy implementation but also on adaptability to evolving economic landscapes and the effective management of resources and partnerships.

Sainul,
Editor.

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NEWS

What Prabowo Subianto has in store for Indonesia’s startups and tech industry
One planned programme is a loan scheme for tech and innovation-based businesses; This would follow the Merah Putih Fund launched by the Jokowi administration in September 2023; Foreign investment will also be a key focus for the new government.

Qoo10 to acquire US e-commerce platform Wish’s assets, liabilities for US$173M
This marks a considerable discount to the previous valuation of Wish, whose parent ContextLogic raised US$1.1B in its IPO in 2020 at a US$14.1B valuation
Wish faced massive competition from Temu and Shein, forcing it to sell its assets.

GoTo denies rumours on potential Grab merger deal
Grab and Gojek previously held initial discussions on such a deal roughly four years ago, but a concrete plan did not materialise. Instead, Gojek merged with e-commerce platform Tokopedia to form GoTo.

Indian agency seeks overseas transaction details from Paytm Payments Bank
The central bank RBI has ordered Paytm Payments Bank, an associate of Paytm, to open a new tab to stop accepting fresh deposits in its accounts or popular wallet from March, citing persistent and serious supervisory concerns.

Singtel Innov8 sells entire stake in Vizzio to embattled founder
The VC arm of Singtel has sold all of its 80 preference shares in Vizzio to Jon Lee; The transaction also removes the S$1 million (US$740,000) in paid-up share capital that Singtel Innov8 injected into Vizzio – an amount now shouldered by Lee.

Filipino EV logistics startup Mober raises US$2M seed financing
RT Heptagon Holdings is the investor; Mober has developed a Transport Management System to optimise delivery efficiency and track the CO2 savings achieved through EVs; It has a fleet of 60 EVs.

Ex-MD of Temasek accelerator TAL Sang Han joins East Ventures Korea
Han will manage the operations of East Ventures South Korea, a US$100M fund formed in partnership with SV Investment in October 2023; Han played a pivotal role in nurturing the growth of startups, notably during his tenure as the MD of TAL.

Green COP secures investment to launch a pilot biofuels plant
Ken Energy is the investor; Green COP produces sustainable biofuels derived from biowaste, strategically focusing on fostering a circular economy in the maritime and transportation sectors.

Carousell co-founder Lucas Ngoo to step down
The decision to step away from Carousell is a personal one, with Ngoo looking to take a break to learn new things, such as AI in biotech, healthcare, and climate tech, among others.

SEC clears Trump’s social media deal worth as much as US$10B
The valuation is about half that of Elon Musk’s much more popular social media company X and follows two years of setbacks in the Trump company’s quest to complete a stock market listing.

OpenAI introduces AI model that turns text into video
The software, called Sora, is currently available for red teaming, which helps identify flaws in the AI system, as well as for use by visual artists, designers and filmmakers to gain feedback on the model.

Crypto exchange Coinbase posts first profit in two years on robust trading
Investor enthusiasm for crypto was rekindled in recent months by the US SEC highly anticipated approval of the first spot bitcoin exchange-traded funds (ETFs); Coinbase’s transaction revenue jumped 64% to US$529.3M in Q4.

FEATURES

Transforming military logistics in the Himalayas with heavy-lift aerial vehicles
BonV Aero’s aerial vehicle is capable of carrying 50 kilos over ten kilometres at 10,000 feet in hilly regions; Thanks to its self-flying technology, this innovative vehicle operates autonomously without constant pilot intervention.

With STEPVR, making AI-generated videos is as easy as creating PowerPoint presentation
STEPVR was part of AI Trailblazers, Singapore’s first Generative AI Innovation Sandboxes established to accelerate AI solutions development.

‘SEA founders should connect with global startup hubs’: Unifier Ventures
From day one, the mindset for founders in the EU and SEA must be to ‘win locally but think globally’, which might not be necessary for founders building in mega markets like the US, China, and India.

ARCHIVES

Unlikely mentors: What kids can teach you about entrepreneurship
I distilled some key habits and characteristics that business owners can develop to thrive in a chaotic and competitive business world.

A great back-end tech helped GrabFood dominate SEA’s food delivery market
Its merchant dashboard not only provides a 360-degree view of all incoming orders regardless of the order type but also enables merchants to keep their restaurant information updated, for example, communicating when an item is out of stock and more.

What is keeping founders up at night?
Fundraising is a time-consuming task that can be mentally draining. Some liken it to dating where you need to cast your net far and wide and spend a lot of time getting to know the potential partner on whether it will be a good match.

Ex-Gojek CMO reveals the 3 things that marketers should stop doing today
In this article, Piotr Jakubowski also shares examples of his favourite marketing initiatives by top global companies.

Is Singapore the “Delaware” of Southeast Asia?
Unlike other nations around the world that require founders to be physically present to incorporate their business in the country, setting up your company in Singapore is incredibly swift and seamless.

Know thy customer: The only rule for startups looking to build trust on social media
We explore the social media best practices that startups of all types can use as a guide to drive customer engagement and brand recognition.

CONTRIBUTORY ARTICLES

Why your first angel cheque should be via a syndicate
Writing your first angel cheque is a significant step, and choosing a syndicate can be a strategic move for first-time investors; Syndicates often gain access to premium deal flow that might not be available to individual investors.

New year, new funding strategies: Powering up sustainability tech startups
It should be the responsibility of all startups to prioritise educating different players in the ecosystem about sustainable innovations.

How to select the right PR agency: Key factors to consider
If you’re ready for PR, finding the right agency demands a bit of strategic scrutiny; here are my insights into the nuanced world of selecting a PR agency.

How data can be used to empower mental healthcare in Asia
Temasek-backed mental health startup ThoughtFull revolutionises mental health with real-world, local data for accessible solutions.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Ecosystem Roundup: How will Subianto’s victory impact ID’s startup industry | Qoo10 to acquire Wish for US$173M appeared first on e27.

e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we feature Karen Kim, CEO of Human Managed, an ASEAN cloud-native data platform that empowers businesses to make smarter decisions and faster actions for cyber, digital and risk outcomes.

Kim shares her personal and professional journey in this episode of Contributor Spotlight.

Thoughts, goals, and journey

Kim’s unconventional tech journey began after graduating from the University of Cambridge with a degree in Politics. For over ten years, she has explored customer-facing roles in industries such as telecommunications (British Telecom), recruitment (Hays), and social networking platforms (LinkedIn). This experience provided firsthand insight into the challenges organisations face and the impact of innovative products coupled with excellent service in driving outcomes.

Taking on the role of CEO of Human Managed in 2018 was a new challenge for Kim. Leading a bootstrapped company was unfamiliar territory, but Kim has always been one to embrace the unknown, following her curiosity and inspiration with purposeful steps.

Kim noted, “The past five years have been marked by tremendous personal and professional growth. I have led the team to define what value means to us intrinsically and to our customers and partners. Everything has flown from there — mission, culture, products. Today, my responsibility in Human Managed is to align its purpose to strategy and strategy to operations.

I enjoy combining my learnings, love for design-thinking, and service-first mindset in various domains, including branding, service design, and business development. I am proud to lead a different kind of company that dares to solve the complex problems of today’s data-flooded world.

Human Managed is consistently delivering value to our customers, trying new things and being able to learn from our mistakes quickly. In doing so, we are building an agile and fearless culture, something I am very proud of.”

The driving force

Human Managed’s mission is to assist enterprises in organising their data for smarter decisions and faster actions, enhancing cyber, digital, and risk outcomes. Over the past five years, the focus has been on crafting solutions that tackle various complex problems of the digital age, delivering significant value to customers. This year, recognising the need for broader visibility, the team explored e27 as a platform to build brand awareness.

Also Read: Geraldine Pang: Mastering digital success through expert marketing and AI insights

Kim said, “I knew that e27 is very well regarded as a media title that has created a vibrant ecosystem for startups and new technologies.

I am also aware that the e27 readership consists of various decision-makers spanning a range of industries that could benefit from our services. Hence, the Contributor Programme is an excellent opportunity to share our work at Human Managed.

My thought leadership piece published on e27, Data Decisions To Make in 2024 For Businesses To Become AI Native, is at the core of what we deliver to our customers every day.”

 On evolving industry trends

Kim specialises in design thinking for efficient decision-making. With firsthand experience across industries, she understands the complex challenges faced by enterprises. Throughout her career, she has focused on developing products and services to improve decision-making for optimal results, having observed how decisions can lead to costly outcomes if based on irrelevant premises or inadequate processes.

Talking about noteworthy industry trends within her area of expertise, Kim emphasised, “Today, in a data-fuelled world, decision-making for enterprises has become even more complicated. Building on the disruption unleashed by Gen-AI in the past year, the rapid rate of innovation in AI and cloud-native tech solutions will see an explosion in data in the near future. By 2025, global data volume is expected to reach 175 zetabytes. Experts predict that data will be embedded in every decision, interaction and process.

With companies operating in complex data environments with various technologies working independently, it is challenging to achieve scalable digital transformation due to legacy architecture and talent skill gaps. As a result, businesses may use technology solutions without fully understanding their business context or relying on incorrect metrics, eventually leading to information overload. This, in turn, can cause indecisiveness and inaction, exposing companies to potential threats and making it difficult to identify and act on scalable opportunities. Additionally, it can also lead to difficulties in managing risk.”

Advice for budding thought leaders

“Thought leadership is about having a viewpoint that brings readers value,” Kim explains. “It’s less about your product and company and more about how you can solve a problem for the audience by sharing your knowledge and real-world experience. It begins with deep diving into your expertise and developing a set of topics within that field that can showcase your knowledge.”

According to Kim, staying updated on the latest trends in her relevant area of expertise is crucial to providing essential background data and context. Drawing on industry knowledge and personal experience, she highlights the necessity of effectively framing a problem, which acts as the hook to engage the audience. Following this, the focus shifts to developing the flow of the piece, establishing the problem, and ultimately providing the reader with a rewarding solution.

Also Read: Sapna Chadha: Navigating Southeast Asia’s tech landscape and AI trends

“Ultimately, creating a thought leadership piece is a business storytelling exercise. And the more you practise, the better you get at it. So read widely, write authentically and edit with your audience in mind,” she advises.

Juggling too many things?

Kim highlights the intricacies of work-life balance: “Balancing work-life is again about efficient decision-making- knowing what is essential. I don’t believe in making minute-by-minute plans, but I generally focus on two or three big daily tasks I must complete.

Delegating and collaborating are also essential in leveraging collective strengths and expertise at work: we can achieve more while lightening individual workloads. Leading a startup and delivering under tight timelines with limited resources can result in long working days at a time.

However, setting boundaries between work and personal life is crucial. I carve out dedicated time for personal activities, exercises, and self-care. I also appreciate the value of self-reflection and growing inward; whenever possible, I spend time journaling, practising yoga and mindfulness, and walking in the lush gardens of Singapore.”

Staying in the loop

Kim and her team remain attentive to data issues in the cyber, digital, and risk sectors, collaborating closely with customers and partners to understand critical challenges like asset management, posture detection, compliance management, extended detection, and threat management. This firsthand knowledge forms their strategies and product development for enterprises.

She also stays updated on industry developments by attending networking events and conferences and subscribing to various tech publications and platforms.

Kim recommends the following resources:

• Book: Machine, Platform, Crowd by Andrew McAfee and Erik Brynjolfsson explores how the collective intelligence of human and machine minds, product and platform dynamics, and core and crowd interactions will shape the digital-native future.
• Website: GZERO AI, a valuable resource for insights into AI and its impact on global affairs.
• Resources: Farnam Street, offering articles and blogs on decision-making and clear thinking.

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The post Karen Kim: Leveraging design thinking for efficient decision-making in data management appeared first on e27.

Southeast Asia’s tech startup sector kicked off 2024 with a bang, securing over US$439 million in venture funding across 31 rounds in January. From pioneering chiplet design to AI automation and neo-rural banking, this wave of investments highlights the region’s growing innovation and global potential.

Below are the top deals of January 2024:

Silicon Box (Singapore)

Funding: US$200 million
Round: Series B
Investors: BRV Capital, Event Horizon Capital, Maverick Capital, Prasedium Capital, Tata Electronics, TDK Ventures, UMC Capital

Bio: Silicon Box is an advanced semiconductor packaging company specialising in cutting-edge chiplet integration services. Founded in 2021 by semiconductor design and packaging industry titans Dr Sehat Sutardja and Weili Dai and CEO Dr Byung Joon Han, Silicon Box aims to bring affordable, high-performance, power-optimised, scalable solutions that enable next-gen large language models (LLM), generative AI, automotive, data centres and mobile computing.

The startup enables chiplet architecture, allowing chip designers freedom from the constraints of a single, monolithic chip for processing. By leveraging multiple smaller chips interconnected in a single package, chip designers can create the equivalent of a “system-on-a-chip” (SoC) in a package.

Sygnum (Singapore)

Funding: US$40 million
Round: Strategic growth
Investors: Azimut Holding (lead)

Bio: Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. It empowers professional and institutional investors, banks, corporate, and DLT foundations to invest in digital assets with complete trust.

In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore.

Be Group (Vietnam)

Funding: US$30 million
Round: Not specified
Investors: VPBank Securities
Be Group is the Vietnamese startup behind the multi-service consumer platform ‘Be’. Started around five years ago, Be Group has worked with over 300,000 drivers. In 2023 alone, the company facilitated over 120 million rides, maintaining a dominant 35 per cent market share in the ride-hailing sector across 40 cities and provinces in Vietnam.

The platform currently offers more than 15 services, including multimodal transportation, express delivery, food delivery, insurance, and telecommunications.

GDMC (Singapore)

Funding: US$21 million
Round: Series A
Investors: Celadon Partners, WI Harper Group, SEEDS Capital, NSG Ventures

Bio: Genetic Design and Manufacturing Corporation (GDMC) is a design and manufacturing organisation focusing on next-generation advanced genetic therapies. Established in 2021, GDMC focuses on manufacturing advanced therapy modalities, including customised mRNA, plasmid DNA, AAV and Lentiviral Vectors. It has developed a Partnership for Drug Manufacturing Organisation model, offering support to companies, including startups, from drug design to being the one-stop shop for innovators from design and manufacturing to quality assurance and regulatory support for eventual market entry.

Bluesheets (Singapore)

Funding: US$6.5 million
Round: Series A
Investors: Illuminate Financial, 1982 Ventures, Insignia Ventures Partners, Antler Elevate Fund

Bio: Bluesheets is an AI automation software company. It leverages financial data points to train AI models for process automation across various industries. It aims to help businesses process unstructured data in multiple formats, languages, currencies, and from both digital and physical sources.

The company has a client base across Asia Pacific, the US, and Europe, which includes Mitsui Sumitomo Insurance Group (MSIG), SCG, Teckwah, Gamuda Berhad, Leong Hup International and Commonwealth Capital.

Komunal (Indonesia)

Funding: US$5.5 million
Round: Series A+
Investors: Sumitomo Corporation Equity Asia, Jafco Asia, Skystar Capital, Sovereign Capital, Gobi Partners

Bio: Komunal is a fintech company offering neo-rural bank services in Indonesia. Launched in 2019, Komunal digitises rural banks by combining funding access and hyperlocal lending to support economic growth in Indonesia. It provides financial services to the underbanked population through its unique partnership with the rural banks in Indonesia. The firm’s vision is to elevate rural banks and SMEs in the archipelago to serve their local community better.

It has so far partnered with 376 rural banks and channels productive loans to MSMEs predominantly based in tier 2 and 3 cities. Through its digital-based DepositoBPR offering, Indonesians can deposit funds in hundreds of rural banks, eliminating the conventional need for face-to-face processes. These deposits also offer higher interest rates than deposits offered by commercial banks.

Semaai (Indonesia)

Funding: US$4.7 million
Round: Equity and debt financing
Investors: CyberAgent Capital, Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC, Heracles Ventures, Peak XV’s Surge, Accion Venture Lab, Beenext

Bio: Semaai is a ‘farmer-first’ company building full-stack agritech solutions to help farmers and rural MSMEs such as toko tanis in Indonesia maximise their earning potential and access better financing, services and new markets.

Mesh Bio (Singapore)

Funding: US$3.5 million
Round: Series A
Investors: East Ventures, Elev8, Seed Capital

Bio: Mesh Bio is a chronic disease management startup. Founded in 2018 by Wu and Arsen Batagov (CTO), Mesh Bio delivers digital solutions to help healthcare providers with patient management. Its solutions offer patient data and predictive analytics that equip doctors with information and intelligence about their patients and the diseases they live with.

The company develops clinical decision support analytics and automation solutions for managing chronic diseases such as cardiovascular disease. Its DARA Health Intelligence Platform enables data-driven care delivery, which improves patient engagement and health outcomes. It has been used by more than 120 medical centres across Singapore, Malaysia, and Indonesia for preventive health screening.

Meiro (Singapore)

Funding: US$3 million
Round: Pre-Series A
Investors: Wavemaker Partners, Angel Central, angels

Bio: Meiro is a customer data platform. Founded in 2018 by Pavel Bulowski, Jana Marlé-Zizková, and Vojtěch Kurka, Meiro’s Customer Data Platform (CDP) empowers brands to better understand customer preferences and behaviours across various touchpoints. Through Meiro, brands can use data to improve customer experience and marketing campaign performance, ultimately maximising customer satisfaction and business profitability.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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Mocaverse, a membership network project by Animoca Brands, has formed strategic partnerships with major Web3 wallets — OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet.

The collaborations aim to bridge the gap between Centralised Finance (CeFi) and the on-chain cultural economy.

Through its recently launched decentralised identity, Moca ID, Mocaverse will foster user growth by integrating with the aforementioned leading self-custodial wallets. Moca ID will serve as the gateway for users to explore various Web3 cultural experiences, including PointFi, GameFi, and SocialFi, and simplify the onboarding process to the Mocaverse ecosystem.

Also Read: Animoca Brands nets US$20M in new round for its ‘Mocaverse’ project

OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet users will soon be able to claim their unique Moca IDs in-app to enter the Mocaverse ecosystem and access various rewarding culture and entertainment experiences. Moca ID holders can earn Realm Points through participation and active engagement in partner ecosystems and experiences and redeem the points to receive exclusive access to real-life benefits and rewards provided by Mocaverse and Animoca Brands.

Kenneth Shek, project lead of Mocaverse: “This partnership encompasses the values and mission we set out when we envisioned Moca ID, which is to make interoperability a new standard to onboard new users and redefine the Web3 network effect through the Mocaverse Partner Network.”

Jason Lau, chief innovation officer of OKX, added: “OKX Wallet is the best way to discover and explore the growing realm of Web3 gaming, culture, and entertainment experiences. Our collaboration with Mocaverse to support Moca ID gives our users the seamless experience and interoperability they’ve come to expect from OKX Wallet.”

Mocaverse is Animoca’s ambitious project to bring together the company’s portfolio projects, subsidiaries, joint ventures, and partners through a unique NFT collection. Mocaverse features 8,888 Mocas, which are NFT profile pictures (PFPs) that serve as a membership pass for Animoca Brands team members, investors, partners, and certain token holders.

Mocaverse aims to unite the Web3 community through shared purpose and values by allowing holders to exchange ideas, learn, connect, play games, and build the future of Web3.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Mocaverse partners with Web3 wallets to expand Moca ID ecosystem appeared first on e27.

On February 16, Singapore’s Deputy Prime Minister and Finance Minister Lawrence Wong delivered the country’s 2024 budget in Parliament.

As quoted by the Straits Times, Budget 2024 aims to “keep Singapore moving forward” and “equip our citizens to realise their fullest potential and give more assurance to our families and seniors amid a more troubled world.”

As the global political and economic situation challenges local startups, e27 spoke to several tech companies in Singapore to understand their aspirations for the Singapore Budget 2024 and how the government can further support the startup ecosystem.

Several notable themes surfaced in our email interview with founders and executives from Human Managed, Payoneer, and Qashier.

Talents in the ecosystem

Talents are a crucial part of a tech startup ecosystem, and there is an urgency for support that helps them keep up with market changes.

According to Human Managed CEO Karen Kim, academic courses and industry certifications for developing talent should be boosted.

Also Read: Uncovering the rise and challenges faced by deep tech startups in Singapore

But this is not the only dimension of talent development that the government needs to consider.

According to Christopher Choo, Co-founder & CEO of Qashier, “Shortage of manpower, especially in industries with high turnover rates, can pose a challenge for many startups. This is because they may not have as deep pockets as large enterprises to hire extensively.”

“As such, technology plays a key role in automating processing and streamlining operations, allowing startups to operate more efficiently with limited manpower,” he stresses.

Funding and international expansion

Another key challenge that supports in Singapore are facing includes securing capital and maintaining healthy cash flow, according to Choo.

“Grants from public and private sectors are essential for startups and SMEs to scale their operations. Qashier is also constantly finding ways to support SMEs through various efforts such as Qashier Support Package (QSP), an initiative designed to help SMEs digitalise their operations without breaking the bank,” he says.

This funding is crucial in supporting tech companies in their expansion plan, which remains a popular option for Singapore-based startups.

“It’s crucial to grasp the significance of businesses venturing into new markets. At the crux of it, building scale improves the productivity of any business, and unlocking cross-border capabilities will undeniably help businesses become more efficient. It is also part of Singapore’s DNA and identity as a financial hub to help business realise their full potential. While internationalisation efforts are no longer solely the domain of large corporations, it also implies a greater need for support,” says Nagesh Devata, the SVP and President of APAC for Payoneer.

Also Read: Is Singapore the “Delaware” of Southeast Asia?

As a platform that works closely with SMEs, Payoneer notes the challenges that SMEs can face in their international expansion effort.

“Global expansion is undoubtedly challenging for businesses of all sizes, much less SMEs. While many SMEs have achieved remarkable success through global expansion, venturing into new markets can be daunting with unique risks and complexities, and many don’t know how. Launching a business in new countries is one of the most salient areas in which SMBs surveyed in our recent SMB Barometer Report believe they have the weakest performance. That said, it is not an unsurmountable feat,” says Devata.

On supporting innovation

Apart from challenges related to talent and funding for expansion, Kim also highlights the importance of building an ecosystem that supports innovation.

“While Singapore has a vast number of innovations, with NTU and NUS reporting a combined amount of 4,000 inventions and disclosures, Singapore lacks a venture-building ecosystem. The Singapore Budget 2024 should prioritise initiatives that promote the integration of cutting-edge technologies such as AI, alongside investments in robust cybersecurity infrastructure, regulatory frameworks, and educational programs,” she says.

According to Kim, these endeavours are essential for fostering trust among citizens, businesses, and investors while improving transparency, accountability, and the ethical handling of data.

“Increased support for collaborative endeavours involving the government, private sector and academia would be welcome. Corporations looking to adopt new technologies should have access to grants to get started. Pre-qualified startups in Singapore would benefit from introductions to potential corporate clients and VCs.”

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Image Credit: Swapnil Bapat on Unsplash

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