In today’s digital age, information security is a critical issue that enterprises can no longer ignore. With the increasing number of ransomware attacks, the challenges of managing cross-border data flows, and geopolitical factors, businesses face more challenges regarding data management and protection. These phenomena have also accelerated the creation of corresponding laws and regulations by governments and relevant organisations worldwide.

For instance, companies around the globe are establishing information security management systems and adopting appropriate technologies and measures. Many companies also need to obtain the ISO 27001 certification, which added more control measures just last year. Moreover, if businesses fail to meet regulatory requirements, they may face restrictions, penalties, or even exclusion from the supply chain in various industries. This makes compliance no longer an option but a necessity.

Since this is closely tied to a company’s reputation and relationships, we expect that information security compliance will become an increasingly important factor in corporate operations.

Regulations leave businesses in the dark due to lack of clear implementation

When helping our clients plan their compliance strategy, we’ve found that the initial compliance implementation assessment is a common struggle. While the goal of protecting data is clear, most regulations only offer basic directions and require companies to demonstrate compliance without providing specific recommendations.

Here are some common examples of how compliance clauses are usually stated:

• Sarbanes-Oxley Act (SOX): This regulation mainly regulates U.S. listed companies, requiring the protection of financial data and reports and developing disaster recovery plans for sensitive information.
• Health Insurance Portability and Accountability Act (HIPAA): A US regulation for the healthcare industry ensures patient medical data confidentiality, specifies how long patient data can be retained and requires backup and disaster recovery plans for data protection.
• General Data Protection Regulation (GDPR): An EU regulation that requires companies to protect personal data, allows individuals to request data deletion, and requires backup plans to comply with individual rights.

When faced with numerous complex laws and regulations without clear guidance on implementing them, it can be difficult for company compliance units to know where to start.

Also Read: Securing the future: Navigating the digital transformation in BFSI amid cybersecurity challenges

Start with ISO 27001 to meet many security standards at once

To address these challenges, we recommend starting with the implementation of the ISO 27001 system. ISO 27001 is an international standard that helps organisations establish Information Security Management Systems (ISMS). Since its security requirements overlap significantly with other standards, such as HIPAA and GDPR, it is a good way to address several compliance regulations at once.

This means that by meeting ISO 27001, most of the other information security requirements of other regulations can be met at the same time. Only specific industry requirements need to be fine-tuned or customised to ensure your organisation’s compliance with relative standards.

Six audit checkpoints to meet data protection measures

Through our company, Synology aims to make data protection compliance easy for organisations of all sizes. To achieve this, we have outlined the following six audit checkpoints. If an organisation can answer “yes” to the following questions, it meets the basic data protection requirements for most regulations:

• Complete backups: Can data be efficiently and regularly backed up, ensuring restoration to specific versions?
• Backup verification: Are backup data truly secure, and are they proven to be recoverable?
• Data immutability: Do you have a copy of the data that cannot be tampered with or deleted at will?
• Restoration drills: Do you regularly simulate response strategies and procedures for unexpected events?
• Offsite secondary backups: Are backup data stored in different locations and media?
• Instant restorations: Can data be restored and services restarted within an acceptable time frame?

If it is not currently possible to achieve all these points, do not worry. By using a modern solution, these audit checkpoints can automatically be met. This backup suite helps IT personnel easily create a complete data protection strategy by deploying multi-version and multi-destination data backups. Not only does this help you meet the six major audit checkpoints, but there are no license fees, making it a cost-effective option to achieve compliance with information security regulations.

Also Read: The business edge: Why prioritising employee cybersecurity is a smart investment

Deploy active backup suite today to comply with data protection standards

Compliance with data protection laws is crucial for business operations, and failure to comply can have direct negative consequences. Take HIPAA for example: If healthcare institutions or related organisations fail to comply with HIPAA requirements, such as failing to protect patient medical information or failing to take the appropriate security measures, fines for each violation can reach up to US$1.5 million. Not only that, but it can also severely damage a company’s reputation.

According to a recent survey by Synology, over 80 per cent of companies are aware of data protection compliance laws but lack a comprehensive and adaptable data security solution because it helps IT personnel turn ideas into actionable plans to ensure the security and recoverability of company data while fulfilling data protection compliance requirements.

—

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 courtesy of the author

The post 6 cybersecurity criteria for corporate compliance appeared first on e27.

SynPhNe (Synergistic Physio-Neuro Platform), a wearable solution designed to treat stroke and other neurology-related disorders, has received US$5 million in a Series A funding round.

Event Horizon Technologies, an affiliate of the Nadathur Group, is one of the key investors in this round. The Group is the family office of Nadathur Raghavan, co-founder of Indian software giant Infosys.

Also Read: Revolutionising Singapore’s healthcare amidst demographic shifts and economic demands

This fresh capital will be used by Singapore-based SynPhNe to expand its rehabilitation services, particularly in the US market.

Founded in 2013, SynPhNe has developed a wearable solution that trains brains and muscles in one system. Real-time synchronised EEG (Electroencephalogram) and EEG (Electromyography EMG) signals are captured during tasks and activities to create a self-correcting learning loop. This makes it possible to self-administer physical therapy, occupational therapy, and Neurotherapy protocols at home, after initial training with a therapist.

SynPhNe claims to have helped individuals with physical disabilities (resulting from neurological pathologies such as stroke, traumatic brain injury and cerebral palsy), learning disorders, ageing challenges (such as memory and functional decline), chronic stress and pain.

Also Read: How immersive tech can boost your health and happiness

Its technology is available on two platforms – the SynPhNe Xpert (for franchisees, hospitals and clinics) and the SynPhNe eNabl (for home users).

The medtech startup has established a foothold in many countries through its training centres in Singapore and Mumbai, institutional partnerships with well-known hospitals and private medical/physiotherapy centres, and pilot projects with patients and renowned institutions in the US.

—

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 Singaporean wearables startup SynPhNe bags US$5M for US expansion appeared first on e27.

According to the European Space Agency’s space debris office, hundreds of millions of objects of different sizes, ranging from 1 mm to 10 cm, formed due to satellite collisions, exist in Earth’s orbit. Each one of these objects creates more debris by clashing further and poses a serious threat to space missions.

When Wei Shu, a research scientist at the Nanyang Technological University (NTU), conducted extensive research into this phenomenon, it became clear to him that extending the lifetime of satellites is the only way to avoid future collisions and debris.

So, in 2019, he joined hands with his NTU professor Joseph Chang and Dr Kwen Siong Chong, to embark on a journey to achieve this mission.

This motivated the trio to launch Zero-Error Systems (ZES).

Also Read: Semiconductor manufacturing nations set for growth as AI takes center stage: Alpha Intelligence Capital CEO

“Extending the lifetime of satellites can be achieved by ensuring the power reliability and data integrity of satellites in all operating environments,” ZES co-founder and CTO Shu told e27. “This is what Zero-Error Systems does.”

Based in Singapore, Zero-Error Systems provides semiconductor integrated circuits and solutions to enable and enhance radiation hardening and ultra-low soft error capabilities of electronic circuits. Its patented, radiation-hardened solution safeguards commercial off-the-shelf (COTS) semiconductor devices, which are not designed to withstand the harsh conditions in outer space.

The startup’s mission is to extend the lifespan of satellite subsystems, rovers and other devices.

“There are two primary methodologies for achieving radiation hardening: radiation hardening by process (RHBP) and radiation hardening by design (RHBD). RHBP was the dominant approach in the past as it is fundamentally effective in mitigating radiation. However, it is incompatible with commercial processes, and it is expensive and old-fashioned,” Shu explains.

RHBD, a low-cost and high-performance solution 

RHBD is now the prevalent tech which relies entirely on low-cost, high-performance commercial processes. “We achieve RHBD first by designing radiation-hardened integrated circuits (ICs) using solely circuit and physical designs and then employing these ICs to protect other COTS components from radiation. The RHBD approach enables nearly all advanced COTS into space, significantly advancing the space industry,” he adds.

According to Shu, ZES’s RHBD approach is probably the most optimised approach as it achieves comprehensively effective radiation hardening with minimum overheads and effort by directly hardening COTS components against radiation.

“Our solution offers substantially lower cost and higher performance when compared to the adoption of radiation-hardened yet expensive and low-performance ICs. The high performance is achieved by allowing the adoption of advanced COTS ICs. The total solution cost is at least one order of magnitude lower than the traditional radiation-hardened IC solution,” he claims.

ZES has collaborated with various partners globally, including in Europe where its solution has been implemented into OneWeb satellite and it now functions in space.

In addition to the space industry, RHBD has potential in the automotive industry, particularly in level-4 and level-5 autonomous vehicles. “High-level autonomous vehicles, which rely on edge computing, require a very high level of data integrity. Zero-Error Systems’s RHBD technology can tackle this issue,” Shu claims.

The startup generates money from semiconductor component sales, non-recurring engineering fees for customised solutions, and intellectual property (IP) license and royalty fees.

In 2019, ZES raised US$2.4 million in seed round funding. In June 2023, it went on to secure another US$7.5 million in Series A round from Airbus Ventures and Dart Family Office.

With over 20 staff members, Zero-Error Systems has built a market presence across three continents – Asia, Europe, and North America.

Singapore is still a small market

Shu opined that while Singapore’s space ecosystem has grown in recent years, it is still small compared to matured economies like the US, Europe, Japan and China. Hence, ZES needs to explore overseas markets to gain flight legacies, brand traction, and business.

“Being a Singapore startup, it is difficult to make ourselves known in a foreign land, especially when ZES is competing with big semiconductor players that have been in the space industry for decades. So, we need to present its scientific findings, exhibit our solutions at top international conferences, and engage strategic foreign partners to promote, sell and participate in mega space projects funded by foreign space agencies,” Shu remarks. “The other challenge is hiring engineering talents for deep-tech startups in Singapore. We are always competing with MNCs in the same talent pool.”

Also Read: Silicon Box’s Business Head on how chiplet architecture transforms semiconductor scalability

Shu further adds that Space, the final frontier for humanity, is poised for accelerated growth in the years ahead, and ZES aspires to be a pivotal player in this cosmic journey. “Our current solutions deliver substantial advantages across diverse space applications, and we aim to establish them as global industry standards. Simultaneously, we are actively bolstering our product portfolio with groundbreaking innovations to meet the evolving demands of the space industry.”

In an era where space debris poses a growing threat to satellite operations, Zero-Error Systems emerges as a beacon of innovation, striving to extend the lifespan of vital space infrastructure. As humanity ventures further into the cosmos, ZES stands ready to safeguard the final frontier for generations to come.

—

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 Zero-Error Systems: Safeguarding space travel from satellite collisions and debris appeared first on e27.

Your website is a vital piece of the marketing puzzle for your company. It is the one spot that your clients can see what you have to offer at any time of the day.

You need to grab your user’s attention with your website and keep them interested. Here are a few tips on how to represent your company through your site.

1. Plan your site

Your first step towards branding your site is to decide how you want it to look. Study the message you want to convey and see how your products will work to present this. Estimate how many pages you will need, if you want one for products or if you want several to display each item that you are selling.

Also Read: 5 branding mistakes that startups should look to avoid

You might consider adding a blog to keep your customers up to date with what you are promoting or releasing. Gather images that you want to display and decide where you want them to go.

2. State your name

Another important thing to consider as you are plotting your site is what logo you want to portray. The logo is what people will associate your business with so you want it to look clear, crisp and professional.

If you have experience with graphic art, you can design this on your own. However, this might be something you want to hire out to be done.

Also, get the feedback of your employees and associates on what they think of the final image. This is something that will reflect your company for years to come.

3. Show your colours

The shades of colours you use on your website can affect your client’s interest in what they see. You will want to use the brand colours you associate with your company.

Also Read: The A,B, and C of startup branding

Use tones that elicit the emotion you want your customers to feel when they think of your company.

You should also pick colour schemes that match the photos you want to use. Whether you are using bulma css or a template, you should easily be able to set the shades that you want. Have others look at the test of your site to gauge if they are acceptable to what you have chosen.

4. Keep it the same

You want to use the same font and styles throughout your website. This should flow from one page to the next. Varying font styles and layouts can confuse your customer and make them lose interest in your site since they are having trouble following along.

Lay your landing page out and change the fonts until one works for you then stay with that through the entire project. You should also try to place your logo and comparative graphics in the same spot on each page.

Having them scattered from one page to the other can be distracting for your client.

5. A picture says a thousand words

Gather together images that give a clear and beneficial representation of your company and the products you advertise.

You will want to find professional shots that are clear and easy to see instead of those taken with a cell phone or personal camera that could be blurry or pixelated.

You should also look for pictures that show a sense of happiness either from customers or your staff. This will encourage the customer looking at your website to want the same happiness and then purchase your product. Sort them by order of the page that they will go on and then arrange them on that page. 

6. Let the world know

Once you have developed your website and it is published, reach out to your current customers to let them know that it is live.

You can reach them by sending an email to your email list or by posting it on social media.

If you let them know electronically, be sure to add a link to your site so they can access it easily. You might also encourage them to forward the link on to family and friends so that you can attract new clients to your business.

–

Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit:  Brad Neathery

This article was first published on October 14, 2019

The post 6 simple tips for branding your website appeared first on e27.

The fintech revolution isn’t just about technology. It’s also about inclusion and empowerment.

This is because fintech companies exist to give customers a better and fairer deal than is available from longer-standing legacy financial services firms.

But for this to truly work, it must include all customers. A nation’s economic strength hinges on inclusivity because greater social inclusion means increasing the productive capacity of the entire population — not just a select few groups.

So, financial products and services that embrace the diverse needs of all citizens — including women — are needed to unlock the full potential of any economy. 

And we’ve already seen evidence of this here in Singapore.

According to the World Bank, 96.3 per cent of women and 99.7 per cent of men in Singapore had a bank account in 2017 — higher than in both East Asia and Pacific and other high-income countries. This might explain why Singapore remains such an economic powerhouse, boasting one of the world’s strongest economies and the highest gross domestic product in the region. 

It also makes this year’s UN Women‘s International Women’s Day theme, “Invest in Women: Accelerate Progress,” exceptionally relevant to the constantly-fundraising fintech industry. 

So how can fintech continue driving the financial inclusivity charge?

A woman-led approach creates fairer outcomes

Women are more likely than men to start a business so they can make a positive impact on the world, according to the US Trust Insights on Wealth and Worth. 

Global Women’s Entrepreneurship Research also shows women are more likely to create social ventures rather than only economic ventures and pursue environmental ventures rather than economic-focused ventures. This is because “women tend to prioritise social responsibility, community involvement, and diversity in their businesses, which can lead to a more equitable and sustainable future for all”.

So, it makes sense that women-led fintechs are more likely to offer customised solutions to address the specific challenges and requirements of otherwise disenfranchised groups. They also often focus on bringing individuals, households, and businesses previously excluded from the traditional financial sector into the financial system. 

This inclusive approach enhances the financial literacy, confidence, and overall well-being of women and other minorities, ultimately contributing to their economic empowerment and creating a virtuous cycle.

As more women are included in the fintech sector as entrepreneurs, innovators, and leaders, the businesses they run also then go on to hire and promote more women and other diverse staff. 

This, in turn, allows the businesses to benefit from a broader range of ideas, solutions, and market insights, greater innovation and wider market reach, higher innovation, greater competitiveness, and expanded market opportunities, leading to sustained economic growth and prosperity for more people. 

Investing in women makes a whole lot of cents!

Also Read: #She27: Celebrating 27 women shaping the future of tech

From boardrooms to startup incubators, I’ve had the privilege of working with women who are reshaping the financial landscape — not just for women, but for everyone. 

Below are some examples of these wonderful women.

Wellbeing relief in a world of stress

Employers globally are increasingly recognising the link between wellness and productivity. However, many lack the necessary tools and expertise to support their employees.

Enter CHOYS, a Singapore-based SaaS insurtech platform for corporate employees in Southeast Asia, established in 2022 by Sharon Li and Vanessa Chen. 

CHOYS enables organisations to support the physical, mental, social, and financial needs of their employees and make work life “more meaningful and humanised” through well-being tools and a data-driven platform. 

Growing up in a male-dominated society, Chen points out that being a female founder was actually incredibly helpful in building a product with social impact.

“Social impact is the most important feature CHOYS customers and users engage in,” said Chen. “It is a great way to improve their own holistic wellbeing. The workplace is also going to have the greatest impact as a stronger social pillar.

“But after years of observations, I definitely notice the flaws of a homogeneous leadership team. As a result, I know exactly what female entrepreneurs like myself bring to the table, such as sensitivity to team dynamics, diverse perspectives, and greater understanding of customers.”

Co-Founder Li reiterates this notion, adding, “Kindness is being built as the core of our business. We also see the new generations of CEOs and leaders envisaging future success as not a zero-sum game: they lift each other and embed this mindset as part of their ecosystem and technology. They care about the social impact of their business and the sense of belonging of their people.”

Last year, via the Fintech Nation Fund, we were excited to be part of a US$1.1 million seed funding round that will help CHOYS with its go-to-market strategy across Southeast Asia and bolster its product development initiatives. 

When asked her advice to other female founders looking to expand similarly, Chen advised, “Be more daring, know your own strength well and continue working on it day by day.

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

“Growth is painful and does not co-exist with comfort. But you can learn to enjoy the pain and try to have as much fun along the way as possible.”

Li also added, “There is no such thing as the right time in life. My advice would be to begin by thinking about the smallest action you can take each day – starting from today – to validate your idea with potential customers. 

“Trust the process and remember, as your knowledge and experience grow, share your insight and learning with others so we can grow together as a community.”

Community-based solutions in a gig economy

Looking to a different type of ‘workplace’, the rise of the gig economy across Asia has brought a whole new form of flexible work. This can be particularly beneficial for women with caregiving responsibilities or other commitments. 

So, it follows that increasing the income of gig workers can directly contribute to financial empowerment, stability, and independence for women. 

Yet financial service providers frequently overlook gig workers, resulting in long-term economic challenges and restricted access to vital services, according to Maria Antonia Hoyos, Co-Founder alongside Maria Andrea Prieto Sarabia of gig economy financial superapp GoNsave. 

GoNSave utilises data analytics and AI to enhance gig drivers’ earnings by up to 35 per cent weekly through a recommendation engine.

According to Hoyos, having women at the helm of fintechs like hers is critical for building financial inclusion, “Women often have different experiences with financial services, and having the ability to influence the design and delivery of such services allows for a more inclusive and comprehensive approach. 

“Diversity promotes innovation, and by incorporating a broad range of experiences and viewpoints, we can create more comprehensive and user-friendly solutions.”

This might explain why Hoyos is so bullish on the growing need for women leading fintechs in Asia and beyond.

“The future looks bright for women-led fintechs,” said Hoyos. “As the industry continues to evolve, we can expect to see more female leaders founding their fintech ventures. This transformation will bring diverse perspectives to the forefront of financial innovation, leading to more inclusive and empathetic solutions. 

“We can look forward to a surge in fintech products that are tailored to better understand user needs, particularly those of underserved communities. And the sector will shift towards greater collaboration, with a stronger focus on community-driven goals and sustainable development.”

What a bright future that would be, indeed!

—

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: Adobe Firefly

The post Fintech’s hidden power: Women leading the charge for a more equitable future appeared first on e27.

Southeast Asia’s online used car platform unicorn, Carro, has acquired Beyond Cars, a used car platform, to expand its business to Hong Kong.

The terms of the deal remain undisclosed.

Singapore-based Carro will work towards expanding Beyond Cars’s network of partnerships and further developing ancillary services across insurtech, financing, and aftersales in Hong Kong.

It is looking to accelerate Beyond Cars’s growth, with an expected over 50 per cent Compound Annual Growth Rate (CAGR) in the next three years.

Also Read: Carro becomes unicorn following US$360M Series C raise, plans to go public in 18-24 months

Carro’s data-driven platform and its full-suite tech — including proprietary technologies and Al capabilities across pricing, inventory management, and inspection processes – will be integrated into Beyond Cars’s platform.

Beyond Cars co-founder and CEO Garry Yu and COO Luke Yip will continue to helm the business with the team in Hong Kong. Yu will report directly to Fong Hon Sum, Carro CEO of International Marketplace.

With Hong Kong under its belt, Carro is now present in seven markets, including Singapore, Malaysia, Indonesia, Thailand, Japan, and Taiwan.

“We see huge potential in Hong Kong in the coming years,” said Carro Co-Founder and Group CEO Aaron Tan. “Beyond Cars is one of the rare and leading players leveraging e-commerce channels and technology in Hong Kong’s used car market – already we’re definitely seeing a shared strategy and alignment in business goals.”

Founded in 2016, Beyond Cars provides consignment services, dealer financing, hire-purchase financing, and insurance services, in addition to providing a platform to buy and sell used cars. The company claims to have been profitable for three years.

Hong Kong is seeing strong demand and hype for electric vehicles (EVs), partially driven by the government waivers and its pledge that the registration of petrol cars, including hybrids, will not be accepted from 2035.

Also Read: ‘We aim to transform car ownership through our 360-degree approach’: Carro Founder Aaron Tan

“The high penetration of EVs in Hong Kong will enable us to further enhance our pricing algorithms and provide end-to-end solutions tailored to EVs,” added Tan. “With an already strong relationship with multiple global EV manufacturers and the capabilities to inspect, service and maintain vehicles, we also want to take our expertise to Hong Kong and become a trusted choice for consumers looking for pre-owned EVs that are as good as new.”

In 2021, Carro raised US$360 million in a Series C funding round led by SoftBank Vision Fund 2, making it Southeast Asia’s first automotive marketplace unicorn. Prior to this, Carro bagged a US$110 million raise in debt financing last year.

—

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 Carro acquires Beyond Cars, bets big on Hong Kong’s strong EV growth appeared first on e27.

 

Expanding business abroad is a multifaceted, demanding process. But, if done right, it can reap incredible results, expanding your clientele, making your brand independent from your home country’s sales cycles and market fluctuations, and extending your products’ market life.

Your first thought might be a bordering nation, which is reasonable, since distribution costs might be relatively low, and cultural exchange between your home country and this prospect might make marketing, sales, and creating a new working environment that stands by your brand, easy.

But not so fast.

While these factors are, undoubtedly, very important, successful expansion relies on throughout market analysis.

Besides factors such as legislation, infrastructure and general cultural climate (which are best compiled and evaluated with the help of Analytic Models such as PESTEL), your main goal should be understanding if there is a gap between offer and demand that your products could fit into.

Once you know that’s the case, it’s time to evaluate where you stand, compared to your competitors: Analyze your comparative weaknesses and strengths, review and reaffirm your value proposition, have a clear picture of who your early adopters would be.

Garner all the information you can from government websites for foreign investors, third-party researcher & consulting firms (all the better if they’re specialized in your industry), keep up with the financial news of your target country, and network with potential allies from your target country/region – and with potential staff.

Also Read: 4 ways to know when its time to move on from an idea, project, or goal

Even with a financial situation that seems to invite growth, a clear market gap, an extraordinary workforce, investment opportunities, a comparatively strong offering, there’s something you shouldn’t forget about:  the role cultural differences might have. However subtle, they exist, and they might make or break your expansion.

Language and culture are as important as market conditions and regulation

Advertising might seem like an afterthought, something to explore later on when you’ve acquired some basic understanding of your market. But actually, as Tri Nguyen, CEO of Network Capital Funding Corporation recently explained in an interview:

“When you are thinking about expanding into new areas, the first thing you need to do is to determine how to specialize your advertising for your new market. If you can’t convey the benefits of your product or service to residents of a new region, you’re going to struggle to make it. Be honest about flaws and strengths as you consider the message you will be conveying to a new area.”

Language is your greatest vehicle to address, engage and establish strong bonds with your new target audience. Be mindful of linguistic differences, and don’t hesitate to look for professional assistance.

Since 87 per cent of non-English speakers won’t give their time or attention to a website that’s not in their native language, properly translating and adapting (or as it’s called, “localizing”) your brand, website and products is a must.

In an interview about the Brazilian marketing agency’s expansion plan, RD’s CEO and founder, Eric Santos addressed the need to be versatile and open to  the specific needs of international clients:

“Companies expanding internationally also tend to shoehorn clients into their model, by forcing them to pay with international credit cards, offering contracts and customer service in English only – they basically say you have to deal with all that. This is the way most companies behave, especially American, when they enter a market like Brazil”.

But language and culture aren’t important just for marketing or sales purposes. Establishing, operating and growing in a new location will involve processes deeply entangled with language, from presenting documentation in the State’s official language to negotiating with potential partners. Make sure you can rely on a localization team, a legal translation agency and eventually, a specialized business interpreter.

Should you go global?

As explained above, going global is a multidimensional process, requiring research, planning, external assistance, patience and commitment.

Also Read: 3 easy ways for startups to attract global customers

For mid-size or small size businesses already thriving in rich, large and diverse markets (such as that of the United States), there might be plenty of room to continue growing locally. But expanding a business beyond its original borders unleashes an even greater potential for further growth.

In the end, 96 per cent of consumers live outside the United States.

Going global might be complicated, but it’s worth it.

–

Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Kyle Glenn

This article was first published on October 12, 2019

The post Ready for expansion? here’s how to decide where to take your business appeared first on e27.

 

Creating a website takes a lot of effort and once it is done, then you expect a flow of continuous visitors to it but when it does not happen, you may feel disheartened.

Do not be surprised, this happens with every new website. Most people do not get it right the first time hence go through your site to understand what is repelling your visitors. 

We have listed here a few reasons why users are leaving your site.

1. Displaying advertisement in the centre of the page

Ok, let me get this straight, the reason you have a website in the first place is to generate revenue and displaying any ad at the centre of your page will gain maximum user attention but think from the perspective of the user. Who likes to come to a site which displays an ad at the centre of the page rather than focusing on the content?

Sites interrupted by ads have a high bounce rate as many users assume that the site is spam and they immediately leave it. Do use advertisements to earn revenues but always display ads in the sidebar or bottom of the page. This makes the site look trustworthy and the chances that they engage with the ad displayed increases.

2. Slow-loading website

It goes without a doubt that a slow site delivers a bad user experience hence I am not going to discuss this any further.

Choose a hosting which is fast and make sure not to go for shared hosting as it may slow down your site.

3. A complex website which is difficult to navigate

Keep in mind that only technical people do not use your site but people who are not so computer friendly may also visit your site hence adding too many complex components is only going to confuse them.

Being creative with your website is great but do not change the primary site layout and stick to the basics as people who visit your site are more interested in the information and would not want to spend time understanding how to navigate within your site.

4. Auto-playing videos

Have you been to a site recently where suddenly you hear a video playing somewhere on the page? My first reaction is to just exit the page immediately as I do not want to watch a video which I did not choose to play.

Most users have the same mindset hence do not force a video to play when a user lands on a page rather let them choose if they would like to see it or not.

5. Using stock photos

Stock photos have become too generic as every other site is using it and speaks nothing new about your business.

Images are a very important part of your website and if you use stock photos, there is nothing unique about it hence hire a photographer for a day or two and get a personalised photo shoot done for the website for it to look more professional.

6. Ad copy doesn’t match the landing page

If your ad on SERP (Search Engine Results Page) says that first-time customers will be offered free product and when they visit the landing page, the offer changes to free shipping for a first-time order, your visitors may get annoyed and leave the site immediately.

Do not try to clickbait visitors as they will not trust such websites. The ad copy should match with the landing page or else the bounce rate will go up.

7. Forcing to fill-in information

To improve email marketing, websites aim to get the users to subscribe to the site and many use tactics such as offering freebies so that people sign-up but there are also sites which pre-check the sign-up option so that the users get subscribed to the email listing while opting to get the freebie.

Also Read: 5 features to enhance user experience of your online marketplace

As per the General Data Protection Regulation (GDPR), users get to choose how they wish their data to be handled hence tricking them into giving your personal data is a big no-no. Data Privacy experts at Siteimprove suggest that let the users choose if they trust you enough to share their information and if they do, then make sure that your data privacy and security is up to the mark.

8. What you do is not clear

You are clear in your head what you do but your visitors do not, hence as soon as they land on your site; you need to display this information clearly. The best way is to put in maximum information about what you do above the fold.

If the users need to scroll down too much to understand your business, they may leave your site soon.

9. Annoying pop-ups

Pop-ups are annoying, be it for getting more subscriptions or displaying ads. People use pop-up blockers as they do not want any interruptions while they are on a site hence why annoy your potential customers?

Just avoid using any pop-up on the page and even if you do, change the setting such that it appears only when the user reaches the bottom of the page.

—

This article was first published on October 4, 2019

The post 9 user experience failures that makes visitors leave your website appeared first on e27.

While the need to achieve gender equality in the digital economy has been much discussed, our assessment of where we are today shows that we can do a better job. 

The exclusion of women has cost developing economies a staggering US$1 trillion loss over the last decade — a figure set to balloon by 50 per cent by 2025 if we don’t act. The urgent need for gender equality in the digital realm isn’t just about abstract figures. It’s about women who dream of building businesses but lack the capital and digital access to make them a reality. 

We’ve seen how women entrepreneurs bring unique perspectives, creativity, and problem-solving skills while investing back into their communities, creating jobs and driving social impact. UN’s report on entrepreneurs in Thailand, the Philippines, and Malaysia illustrates these positive ripple effects – where women founders hire 17 per cent more women than their male counterparts. They also use their incomes differently, spending 90 cents of every dollar they earn on their families, including on their children’s education, health and nutrition, compared to 30-40 cents devoted by men.

We must recognise that despite these benefits, only a third of small and medium businesses in Southeast Asia are women-owned, despite micro, small and medium businesses making up over 90 per cent of total establishments in this region. Women entrepreneurs still face significant challenges, including limited access to capital, networks, and relevant business skills.

This aligns with the significance of this year’s International Women’s Day UN theme, “Invest in Women: Accelerate Progress.”

The digital economy can boost the growth of women-led businesses

The digital economy presents a transformative catalyst for the growth of women-led businesses in Southeast Asia. Beyond a simple shift to “going online,” it offers strategic and operational advantages that empower women entrepreneurs to thrive.

For many women, the digital landscape redefines the conventional workplace. Automation and digital workflow tools can streamline everyday operations while offering the possibility of remote work environments. This newfound flexibility enables women to harmoniously manage household responsibilities and career aspirations — a balance often elusive in traditional business models.

Going online also means that women entrepreneurs can start their businesses with lower startup costs too, and without the need for a physical storefront, which is a significant advantage. They can even reach customers worldwide to grow their businesses beyond local markets.

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

The figures speak for themselves: four in five enterprises report sales increases and cost reductions directly attributed to the adoption of digital technologies. This is especially compelling within Southeast Asia, where the digital economy sectors continue to be on a growth trajectory despite global macroeconomic headwinds, according to the e-Conomy SEA 2023 report. The signs are clear that digital participation by these women entrepreneurs can reap benefits as they engage some of the most digitally engaged consumers in the world.

Empowering women-led businesses to come online in Southeast Asia

With these benefits in mind, we believe that private organisations in the region can play a greater part in empowering these women entrepreneurs. Three areas of support come to mind: 

Tailored digital training for entrepreneurs at every level is helpful in uplifting the community

In the region’s rapidly evolving digital landscape, tailored digital training for entrepreneurs is not simply beneficial – it’s essential for an equitable and thriving future. The International Telecommunication Union‘s analysis reveals a comparable gender gap in digital skills and STEM access. Left unaddressed, this divide threatens to exclude women from the very economic opportunities the digital economy promises.

While the digital economy teems with potential, women entrepreneurs must possess the skills to fully harness those opportunities for business growth. This is the driving force behind impactful initiatives like The Asia Foundation’s Go Digital ASEAN program, supported by Google’s philanthropy Google.org, in training over 140,000 entrepreneurs to date, with 60 per cent of women from underserved communities.

It recognises that digital literacy isn’t one-size-fits-all. By offering tailored training in business, finance, marketing, cybersecurity, and sustainability, women at all stages of their entrepreneurial journey gain the tools for sustained growth.

The impact is undeniable. Over 90 per cent of participants report a surge in confidence and skill when leveraging digital tools for their economic advancement. Success stories like Ms Sunu Asri of Indonesia provide a glimpse of the impact of such programs.

After learning about design apps, targeted marketing, and effective use of digital tools through the program, her fruit salad venture tripled in sales. This newfound knowledge fuels sustainable growth and inspires further digital applications within her business. We see many more stories like Ms Sunu’s through initiatives like this, and we want to keep growing this pool of entrepreneurs. 

Also Read: Breaking barriers: Hidden hurdles faced by women entrepreneurs

By investing in tailored digital training for women, we don’t simply empower individuals; we ignite a ripple effect of economic and social progress that strengthens entire communities.

Better access to capital and digital tools can help entrepreneurs grow businesses sustainably

Access to capital remains a cornerstone of entrepreneurial success, empowering businesses to scale, generate greater income, and reinvest in their communities. Yet, per the International Finance Corporation’s (IFC) estimation, approximately 70 per cent of women-owned SMEs globally lack adequate access to financial services. Compounding this, a mere seven per cent of private equity and venture capital flows to female-led businesses.

To bridge this divide, organisations must prioritise innovative funding solutions tailored to women-led businesses. These can encompass targeted grants, low-interest loans, and subsidised technology designed to dismantle barriers and drive accelerated growth.

Initiatives such as Standard Chartered Bank’s WOWnita program in Malaysia serve as powerful models. It offers not only lower interest rates, collateral-free applications, and flexible repayment plans for women entrepreneurs but also a streamlined, user-centric application process.

Similarly, Google for Startups Women Founders Fund provides financial access to our suite of products free of charge while providing hands-on mentorship and product support on cloud solutions, AI, and machine learning, among others, to help founders build and grow their businesses. 

By providing ready access to capital and technology to women entrepreneurs it can give them greater confidence in growing their business sustainably. 

Hands-on mentorship helps to build entrepreneurial attributes 

Entrepreneurial success hinges on far more than just technical skills, funding, and the latest tools. The cultivation of a resilient, forward-thinking mindset proves equally vital. Hands-on mentorship plays a pivotal role in fostering this mindset, empowering entrepreneurs to embrace their potential and confidently champion their initiatives.

Nurturing an entrepreneurial spirit requires a multifaceted approach. Programs like SheDisrupts in Indonesia demonstrate the transformative power of dedicated mentorship. By connecting women entrepreneurs with seasoned investors, advisors, and fellow innovators, they create a dynamic support network that fosters growth and unlocks innovation.

Such guidance proves invaluable as entrepreneurs navigate complex social and environmental challenges through their ventures. The program’s success speaks for itself, prompting it to return for a third year in 2023. 

By cultivating entrepreneurial attributes through mentorship, we are planting the seeds for a more resilient, innovative, and equitable business landscape. The hope is for these beneficiaries to pay it forward and continue helping even more female entrepreneurs seeking such support. 

Collective action can level the digital playing field

The transformation of women-led businesses within Southeast Asia’s digital economy is a shared responsibility.  By empowering women entrepreneurs with resources and access, we unlock their ambition and ingenuity.

This doesn’t simply benefit individuals; it builds stronger communities and, ultimately, a more prosperous region for all.  In the face of global challenges, let’s seize the potential of the digital landscape to create a future where equality and opportunity are not just ideals but realities.

—

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 Leveling the digital playing field: How to get more women-led businesses online in Southeast Asia appeared first on e27.

Indonesia’s long-stay rental provider Rukita has secured US$15 million in a Series B extension round of financing from new investors, including MPower Partners, BNI Ventures, Openspace Ventures, and NBA star Jeremy Lin.

Existing backers also participated, including Peak XV’s Surge, Golden Gate Ventures, Shunwei Capital, OCBC Ventures, and real estate veteran David Tsang.

The funding will be used to develop cutting-edge technologies, expand its service offerings, and recruit top-tier tech talent to bolster its team.

Also Read: How Rukita turned the pandemic into an opportunity to grow its co-living business

“We are looking forward to deepening our bench strength of tech talent to strengthen our platform and better serve our growing base of renters and property owners,” said Sarah Soewatdy, COO of Rukita.

Founded in 2019 by Sabrina Soewatdy and Sarah Soewatdy, Rukita aims to capitalise on the growing popularity of rental housing among Indonesia’s rising middle class and staggering millennial population.

The firm brings together property, landlords, market insights, marketplaces, financing, and tenant service.

Rukita claims to be EBITDA positive and doubling its supply growth year-on-year with 1.4 million rooms under its ecosystem and unique users of over 3 million per month.

“This funding marks a significant step forward in our journey to redefine the real estate landscape and drive accessibility to quality housing for different lifestyles and life stages,” said Sabrina Soewatdy, CEO of Rukita.

Also Read: Leadership mindset: The key to driving real estate digital transformation?

In 2022, Rukita acquired Infokost.id, a local search site for boarding houses, for an undisclosed sum. Infokost.id was first owned by GDP Venture, a Djarum Group financing company. In December 2020, Infokost closed its operations. Rukita then took it over and revitalised it with a series of innovations.

—

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 NBA star Jeremy Lin joins Indonesian proptech firm Rukita’s US$15M round appeared first on e27.