Founded in 2020, Hong Kong-based digital health and wellness platform MixCare Health has made significant milestones that include serving more than 100,000 end-users via 25 clients, including major Hong Kong employers such as PwC, HKBN and Manpower, and insurers including China Life, AXA, Chubb Life, OneDegree and Blue.

“In the past 12 months, we’ve had significant success in growing the potential end user base by signing agreements with major employers and insurance companies who want to offer our individual health and wellness services to their policyholders. We are always humbled by how these major names will place their trust in a young company such as ourselves to support them with a solution,” explains Alex Wong, CEO and Co-Founder at MixCare Health, in an email interview with e27.

Aimed at corporates and insurers, the MixCare Health platform connects employees and policyholders with the services they need to live a better, healthier life. This year, the company plans to expand into Southeast Asia (SEA).

“We have had strong interest from insurers who want to do more in preventive care and increase engagement with policyholders and potential customers. Then, in turn, interest from policyholders who want to live healthier lives rather than get sick, as it means they need to make a claim. Our platform is a great solution for both,” Wong says.

“The insurers themselves may not want to build and maintain such a vast network of services. It is expensive, not just on the technology front, but also you need a cross-regional team to manage the platform. We solve all of that for them by providing a scalable solution that is easy to integrate into their existing tech stack and meets their internal requirements. For example, we could deliver access to HKBN in less than one month and launch phase one with a regional insurer in two months.”

Also Read: AI-powered insurtech startup Sunday acquires KSK Insurance Indonesia

“Furthermore, through our platform, we also have access to many anonymous end-user data points that our analytics can turn into meaningful insights that help insurers and employers build engagement plans with their stakeholders.”

In its expansion to SEA, MixCare Health wants to focus on Thailand and Singapore, followed by Malaysia and the Philippines. Companies have approached the company to replicate its partnership model in Hong Kong; it has also hired a country manager in Thailand.

“We believe there is a total serviceable, obtainable market of US$1 billion for MixCare to aim for across the broader Asian region – that includes Hong Kong, South Korea and also our target markets in SEA,” Wong explains. “Our solution is proven and scalable, and we have already shown that we can partner effectively, so we are excited to pursue our growth strategy.”

When asked about insights they can share about the SEA market, Wong says that while the COVID-19 pandemic is considered over in many regions, it has increased awareness of health and wellbeing. It also highlights the urgency of digital transformation.

“In each of these markets, you have tech-savvy populations using their devices to look for new solutions to help them live healthier lives. They also want choice, so one person may need short-term mental health support to help them through a particular struggle, while another may benefit from acupuncture treatment for muscle pain,” Wong says.

“Health and life insurers are looking to build ecosystems to meet that need, and employers are also looking to leverage these services to help them retain their talent. That’s creating a great opportunity for MixCare Health and our platform.”

Also Read: Why the digital ecosystem is key to transforming the insurance industry

Beyond the expansion

Apart from its expansion plan to SEA, MixCare Health also aims to continue growing in its home market in Hong Kong. Apart from adding more business partners, it also wants to raise funding to support its growth.

“Regarding our technology, we are adopting generative AI technology to streamline internal operations and customer service. We are also utilising the wellness and medical data we collect to provide more data-driven health recommendations and insights to end-users, insurers and employers,” Wong says.

“We’ve achieved a lot in our first three years, and we expect that appetite for our services will continue to grow.”

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Image Credit: MixCare Health

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In a world grappling with multiple crises, achieving gender equality has never been more essential.

The tech industry thrives on innovation, yet a stubborn bias persists: women continue to face systemic prejudice and discrimination that hinder their advancement.  This disparity, despite progress towards inclusivity, creates a frustrating loop that reinforces stereotypes. 

Breaking these stigmas is imperative for creating a more inclusive and diverse workforce where women are empowered to thrive and contribute to innovation on equal footing with their male counterparts.

This International Women’s Day is a poignant reminder of the ongoing struggle for women’s rights and dignity, which is not just a matter of social justice but also a cornerstone for fostering a more inclusive, prosperous and equitable future for all.

“Gender bias in the tech industry has been pervasive. While progress has been made, there is still more to be done. This mission begins with early education, where educational institutions should nurture and encourage women to enter the STEM (Science, Technology, Engineering, and Math) field and provide mentorship, which helps to increase tech talent. Workplaces also play a vital role by offering flexible work policies that foster a supportive culture while ensuring fair salaries and opportunities. Government efforts such as Women In Tech provide a platform for women to seek support and resources in their careers. Ultimately, achieving gender inclusivity is a shared responsibility that falls on every stakeholder in society,” says Penny Chai, Vice President of Business Development APAC at Sumsub.

Navigating gender inequality: Challenges and catalysts for change

The world faces a multitude of complex challenges, from pandemics and global conflicts to the ever-present threat of climate change. In the midst of these uncertainties, achieving gender equality emerges not just as a moral imperative but as a cornerstone for building a more prosperous, just, and sustainable future. 

Yet, despite significant strides made in recent years, the path towards true equality remains riddled with obstacles. Women continue to face systemic barriers and underrepresentation across various facets of life.

According to a JP Morgan Private Banking study, only 5.7 per cent of the total high-growth private businesses were founded or led by women across APAC. Lennise Ng, CEO and Co-Founder of Borong, points out that even today, there are investors in the market who maintain biases against female founders, contributing to the underrepresentation of women in the investment space. This imbalance directly affects the fundraising efforts of women-led businesses, which is crucial for sustaining high-growth enterprises requiring substantial capital.

This stark reality is reflected in the staggering US$360 billion annual deficit in global spending on gender equality measures. The ramifications of this gap are undeniable, with an estimated 75 million people falling into poverty since 2020. This economic burden is projected to disproportionately affect women, with projections suggesting that over 342 million women and girls will be living below the poverty line by 2030.

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

Jiwon Park, the Founder of SAIB, a sexual wellness startup in Korea, highlighted the entrenched gender bias in her country. She said, “In the specific context of Korea, where societal conservatism and patriarchal values persist, the challenges of gender bias are compounded by double standards. Despite a growing openness among the younger generation about matters of sexuality, there remains a significant conservative undertone, particularly when it comes to female sexuality. The societal expectation for Korean women to present themselves as sexually reserved, feigning inexperience and naivety, contributes to perpetuating harmful stereotypes.

Public discussions about women’s sex lives are met with severe consequences, including slut-shaming and, in extreme cases, misogynistic hate crimes. These deeply ingrained biases and societal expectations not only hinder open conversations about sexual wellness but also contribute to an environment where women are discouraged from embracing and expressing their sexual agency.”

In the male-dominated sexual wellness industry, Park faced constant underestimation, often being dismissed when trying to make safer and female-friendlier condoms. This pervasive gender bias became the catalyst for change, driving her to found SAIB. This intimate cosmetics brand, its name a clever reversal of the word ‘bias’, includes Korea’s first-ever line of condoms explicitly marketed toward women. Through SAIB, Park empowers women to discuss and explore their sexual health openly, challenging societal norms and dismantling long-standing restrictions on conversations surrounding female sexual well-being.

Unfortunately, the situation in Southeast Asia has also not improved significantly. “Up till today, there are still investors in the market that maintain biases against female founders, like when they hold certain stereotypes about women’s interests, capabilities, and career trajectories. Across SEA, there’s this thing called the ‘bro culture’. This ‘bro culture’ is typically practised during various business meetings and networking sessions that happen after working hours – and it takes extra effort for women to break through that,” Ng added. 

Funding disparity: Obstacles and champions

The venture capital landscape paints a disheartening picture of gender disparity. Despite their immense potential and contributions, female entrepreneurs receive a meagre two per cent of all VC funding. This persistent gender gap in investment remains a major hurdle, hindering female-led businesses from accessing the resources needed for growth and innovation.

Pocket Sun, Co-Founder and Managing Partner at SoGal Ventures sheds light on this discrepancy: “As a student studying entrepreneurship at USC, I noticed an inequity in the speakers who were coming to speak. Few to none were women and diverse, and I wanted to create a community to combat this. I created the SoGal community in LA, which is now one of the largest global networks for women entrepreneurs and investors, with over 256,000 members across 50 chapters on six continents. When we were raising our first fund, we were told by many LPs that investing in women wasn’t a thesis. Three unicorns and a top-decile fund later, I’m proud to say we have proved them wrong.”

Women entrepreneurs often lack the same capital confidence as their male counterparts. Funds are predominantly directed towards businesses led by men, creating a cycle where women struggle to access sufficient capital. This results in prolonged fundraising periods of Six to 36 months, diverting attention from scaling their businesses and hindering decision-making. 

Jennifer Cheng Lo, Founder and Director of NewChic Capital, initially opted to bootstrap her early entrepreneurial endeavours, a risky but empowering decision that ultimately led to successful exits and IPOs, solidifying her roles as both an entrepreneur and an investor.

“Specific instances of gender bias I’ve experienced early in my career was feeling like I was being held to higher expectations and performance standards to fulfil the same managerial role as a male counterpart.  This led to me realising metaphorically that the only way to have a seat at the table was to create my own table, not try to sit at other tables, and invite my own friends to sit at my table. 

As I’ve always been entrepreneurial, I was motivated to start my own ventures, and I also took the initiative of starting my own Family Office (after an exit, which is also entrepreneurial), and even now collaborate with some of the best female entrepreneurs and female-led funds as an LP, co-investor, partner, and more because I wanted to minimise the chances I would continue to experience gender bias,” she shared. 

Pocket Sun and Jennifer Cheng Lo are more than just investors; they’re advocates for women entrepreneurs. Pocket, known as the “gold medal coach for women founders,” takes pride in her role as a cheerleader, advocate, and connector for her fellow entrepreneurs. Jennifer, on the other hand, sees herself as a disruptor, challenging systemic biases and levelling the playing field for diverse entrepreneurs. She invests not only capital but also her time and expertise, supporting, advising, and collaborating with female entrepreneurs and funders. By investing in diverse entrepreneurs and fund managers, Pocket and Jennifer are not only supporting individual founders but also driving innovation and economic growth.

Advancing towards equity

Despite ongoing challenges, women are making significant strides in dismantling the status quo. Positive developments are increasingly visible, with women actively driving change across various sectors.

Also Read: From behind a women’s lens: Establishing a footing in the male-dominated VC industry

“While the road is not without obstacles, I remain optimistic about the landscape and the increasing recognition of the valuable contributions of women entrepreneurs in the tech sector. In our portfolio, three out of 10 companies have at least one female founder, reflecting positive progress. While acknowledging persistent challenges, we approach them as opportunities for positive change. We always strive to embrace the strengths that women bring to entrepreneurship, such as their collaborative nature, sensitivity, and prudence,” said Erika Dianasari Go, Partner, Value Creation at Alpha JWC Ventures.

In a positive step towards gender parity, governments are allocating a portion of investments in certain VC funds specifically to support female founders. We’re also seeing a growing number of women entering the ranks of venture capital firms and securing leadership positions, contributing to a more diverse and inclusive decision-making landscape.

“As the Head of Growth Marketing at Choco Up, I was excited to join a company that solves a problem many female founders face: lack of access to capital. Choco Up is providing an innovative financing solution called revenue-based financing (RBF) that is filling an important gap in Singapore’s funding landscape. Positioned between traditional funding sources such as venture capital and banks, RBF can be especially useful for businesses that may not be a perfect fit for these more conventional options.” Niki Torres, Head of Growth Marketing, Choco Up.

This ongoing progress towards a more inclusive fundraising landscape for female-led startups brings increased opportunities and support. Investing in female founders creates a ripple effect, empowering not only individuals but also entire ecosystems.

Investing in women: Driving economic and social progress

Investing in women is not simply a matter of doing the right thing; it is an economic and social imperative. Studies consistently demonstrate that companies with diverse leadership teams outperform their less diverse counterparts. By fostering gender equality, we unlock economic growth and a more just and equitable society, paving the way for a future where everyone, regardless of gender, has the opportunity to thrive.

On this International Women’s Day, let us echo the call to invest in women in order to accelerate progress. We can all play a part in challenging the status quo and building a brighter future. This includes supporting women-owned businesses, amplifying their voices, advocating for change through policy and action, and investing in our growth and potential.

By taking these steps together, we can break down the barriers that hold women back and unlock the immense potential that lies in the spirit of inclusiveness. Let us commit to creating a world where the stories of successful women entrepreneurs are not the exception but the norm. As Bell Beh, who co-founded  BuzzAR, a metaverse startup, said it best, “It’s time for the Yin energy to shine together with Yang.”

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In a transformative exploration of customer engagement, the event, “The Future of Customer Experience: Journeying into Conversational, Personalized, and AI-Driven Engagements,” organised by Vonage in partnership with e27, gathered industry leaders at the Pullman Jakarta, Thamrin on February 29. This exclusive event provided a unique platform for thought leadership, insightful discussions, and practical demonstrations aimed at shaping the trajectory of customer interactions.

At the forefront of this event was Vonage, a global leader in cloud communications helping businesses accelerate their digital transformation and a part of Ericsson. Renowned for pioneering innovative technologies, Vonage specialises in delivering seamless and personalised communication experiences. With a commitment to driving the evolution of customer engagement, Vonage’s thought leadership and demo during the event provided attendees with a glimpse into the future of customer interactions, showcasing practical solutions that bridge the gap between technology and human-centric experiences.

Vonage’s thought leadership session and demo highlighted the company’s vision for the future of customer experience. Attendees were treated to a demonstration that underscored Vonage’s commitment to practical solutions, illustrating how businesses can intelligently use tools to connect with customers on a deeper level.

Panel discussion highlights

Empathy in customer relations: Where the customer reigns supreme

The panel discussion brought forth the timeless truth that the “Customer is King,” underscoring the need for genuine empathy in customer relations. The consensus was that, despite technological advancements, understanding and resonating with the customer’s needs remain paramount.

Smart tools for assistance: Striking the right balance

Panellists urged businesses to be smart about utilising tools that assist customers. They emphasised the importance of finding the delicate balance between leveraging technology for efficiency and maintaining a human touch in customer interactions.

Also read: Moving to Japan is a big step – but one that is getting smaller

Triggers, timing, and messages: Crafting the perfect customer experience

Finding the right triggers at the right time with the right message emerged as a key theme. The panellists stressed the significance of crafting personalised, timely messages that resonate with customers, creating a more meaningful and impactful customer experience.

AI and data analytics: Beyond bombarding customers

The power of AI and data analytics was highlighted not as a tool for bombarding customers but as a means to gather and analyse customer information intelligently. The panellists discussed leveraging AI to determine customer needs by aggregating available information, providing a more targeted and relevant experience.

AI as an enabler: Moving beyond chatbots

The discussion challenged the notion that AI is solely synonymous with chatbots. Panellists emphasised that AI is a powerful enabler, capable of enhancing the overall customer experience. By understanding the nuances of customer interactions, AI can contribute to creating a more tailored and efficient service.

Omnichannel strategy: Knowing, not just being present

The concept of omnichannel strategy was clarified as not just being present on every channel but truly knowing the customer across all channels. The panellists emphasised the importance of understanding customer behaviour and preferences consistently, ensuring a seamless experience across various touchpoints.

Also read: GB Helios: Empowering SMEs with tailored and innovative financial solutions

SEA’s mobile-first economy: Respect in communication

In the context of Southeast Asia’s (SEA) mobile-first economy, the panellists acknowledged the prevalence of communication on platforms like WhatsApp. A key takeaway was the importance of respecting the client’s personal space and avoiding spam. Communicating meaningful information was emphasised as crucial in this era of constant connectivity.

As the event concluded, it became evident that the future of customer experience hinges on a delicate balance between technology and empathy. Through its thought leadership and active participation in the panel discussion, Vonage showcased its commitment to driving this transformative journey. The event catalysed industry leaders to collectively shape a customer-centric future, acknowledging the evolving landscape while prioritising the human element in every interaction.

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This article is produced by the e27 team, sponsored by Vonage

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I’ve spent two decades creating original content, from EDMs to press releases to social media posts and storytelling campaigns. Now, tools like ChatGPT are making waves as powerful content curation platforms.

They are brilliant tools to use to get you out of the gates and have a base to work with and evolve. I’ve played around using it for crafting story angles and writing pitches and media releases, and it can get you 60 per cent of the way there. It then needs your own ‘Je ne sais quoi’ of story-telling, USP and tone of voice.

Last year, we created a ChatGPT sheet to help businesses do a little DIY PR when they can’t afford to hire an agency. AI is really allowing businesses to work smarter and more effectively; however, here’s my low-down on what to do and not to do when using this clever little tool.

Fact-check, a non-negotiable

ChatGPT draws from various sources, and despite its prowess, it may not guarantee the latest, most accurate information. Like any content work, make sure you are fact-checking to ensure you have the latest and greatest and are not ruining your rep by sharing invalid information.

Input the data for optimal output

ChatGPT gobbles up and thrives on the information you feed it. Tailor your prompts by supplying specific details, facts and information, and guide them with desired parameters, such as length and tone, for optimal results. I’ve seen many ‘LinkedIn experts’ using ChatGPT quite obviously for their thought leadership posts; it’s a real turn-off.  Original content, sharing lived experience, and unique expertise will still be king, and even more so.

Also Read: Evolution of advertising industry with the rise of OpenAI’s ChatGPT

Brand alignment 101

Verify that the content aligns seamlessly with both personal and business visions and goals. Consistency across all communication channels is essential for a coherent brand image. Regularly assess and refine prompts to preserve a distinctive brand voice and prevent deviations into soulless, generic messaging.

Use your common sense

While ChatGPT can help draft statements, be careful in crisis communication scenarios. Human judgment is paramount to navigate the complexities of sensitive issues and ensure an appropriate, empathetic response. I’d also avoid using ChatGPT for crafting statements in legal or politically sensitive situations. Human oversight, of course, is crucial to uphold ethical standards and comply with legal requirements.

ChatGPT is not just a tool; it’s now becoming a helpful ally in the world of marketing and communications. Its capabilities can significantly enhance efficiency, allowing PR pros to focus on the nuances of storytelling, strategy, and relationship-building.

However, approaching this tool with a discerning eye is crucial. Emphasising fact-checking, maintaining originality, aligning with brand values, and exercising caution in sensitive areas will help strike the right balance between AI and human expertise.

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Southeast Asian startups raised US$353 million in venture funding from 42 rounds in February 2024, reveals Tracxn findings.

This figure is 43.65 per cent higher than the total capital raised by startups in the region in January this year and nearly 44% lower than the money raised in February 2023.

Seed funding rounds (27) formed the bulk of the deals in February, followed by early-stage (12) and late-stage ones.

Also Read: UNOAsia secures US$32.1M to provide digital banking services in Philippines

Singapore-incorporated SaaS company Capillary Technologies raised the largest capital of US$95 million. Singauto, a new energy-intelligent refrigerated vehicle maker, raised the second largest funding round (US$45 million), UNO Digital Bank (US$32.1 million), Xcellerate (US$25 million), and Oobit (US$25 million).

See the infographic for more details:

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One of the ways Artificial intelligence (AI) helps to support business operations includes its use in document processing, bridging the gap between physical documents and digital workflows—an area that Staple is working on.

The company’s AI technology can process documents in over 190 languages with an interface designed to be intuitive and user-friendly. Staple’s solution can be deployed remotely to any location as a cloud-based platform. Its specialised modules, from scanning to workflow automation, address the full spectrum of document processing needs.

According to CEO & Co-Founder Benjamin Stein, this flexibility and scalability have helped Staple to serve multiple markets. Today, the platform has a user base that spans 56 countries, with a concentration in Asia. Its clients include major global financial institutions, Fortune 500 companies and tech unicorns.

“Staple’s solutions are tailored to address specific pain points in document processing like inefficiency, high error rates, and the challenge of handling diverse data formats, highlighting the importance of deeply understanding and responding to customer needs,” Stein says in an email interview with e27.

“The ability of Staple’s solution to scale according to business growth demonstrates the value of designing solutions that can adapt to increasing volumes and complexities of data.”

Also Read: AI assistant or replacement? A PR pro’s take on using ChatGPT

Established in 2018, Staple is currently run by a team of 35, including specialists in AI, data science, application engineering, sales, marketing and customer success.

It has raised approximately US$1.3 million in funding from Entrepreneur First and Delivery Hero Ventures and reached its first profitable quarter in Q3 2023.

Stein shares his insights about AI in the market and the company’s major plans in this interview. Here is an edited excerpt of the conversation.

In the past year, GenAI has been experiencing a surge in popularity in the market. How does this impact your business as an AI solution provider? Is there any specific opportunity that you are tapping into?

As awareness and adoption of GenAI grow, more businesses are likely to seek AI-driven solutions for their operational challenges, creating a larger potential market for Staple’s document processing solutions.

The advancements in GenAI can be leveraged to improve Staple’s existing AI-driven technologies. Improvements in language models and document understanding algorithms can enhance Staple’s ability to process and manage a wide variety of documents, including those in over
190 languages.

The evolving landscape of GenAI presents opportunities for Staple to innovate and develop new features or capabilities that align with the latest AI trends, enhancing the self-learning mechanisms of Staple’s tool, improving the user interface, and integrating new functionalities that respond to changing market demands.

Also Read: AI will change the game of tech business in Vietnam by 2024. This is what you need to know about it

As AI becomes more mainstream, competition in the AI solutions market will likely intensify. Staple’s focus on continuous innovation, unique selling propositions like handling a wide range of document types, and user-centric design can help maintain a competitive edge.

With the increased interest in AI, Staple might find itself in a position to educate potential clients about AI’s benefits and practical applications in document processing, involving more consultative education efforts.

The growth of GenAI can open new doors for collaborations and partnerships, either with other technology providers or with businesses seeking to integrate advanced AI capabilities into their operations.

As AI technology advances, so do concerns around ethics and regulation. Staple may need to adapt to new standards and regulations continuously, ensuring its solutions remain compliant and ethically sound.

What is the next tech innovation that you aim to build? How will they be different and better than existing ones?

Further development in machine learning algorithms could allow Staple to process documents with even greater accuracy and efficiency, involving more sophisticated natural language processing (NLP) capabilities to understand better and interpret complex document structures and languages.

Staple might aim to integrate predictive analytics into its platform, allowing businesses to process documents and derive predictive insights from the data extracted, thereby aiding in decision-making processes.

Staple’s R&D efforts focus on transitioning from “enterprise automation” to the “autonomous enterprise.” Many existing technologies and solutions can automate a portion of any given process or workflow, say up to 70 or 80 per cent, but full automation remains elusive due to the exceptions and variations that arise in real-world business environments.

Also Read: Navigating the AI frontier: Strategies for scaling for SEA startups

Staple’s AI can handle increasingly complex tasks with minimal human intervention by focusing on more advanced workflow automation and exception handling. Developing industry-specific AI models tailored to unique document processing needs of different sectors like healthcare, legal, or logistics could be a potential innovation direction. Innovations might also focus on the user interface, making the system even more intuitive and easier to use, enhancing user adoption and satisfaction. It could be a unique and relevant innovation to incorporate features that help businesses reduce their carbon footprint, such as tools for optimising document processing to minimise energy usage.

In terms of differentiation and improvement over existing solutions, Staple’s future innovations could include even higher levels of accuracy and efficiency in document processing to provide more personalised and industry-specific solutions, enhancing user experience to make complex AI functionalities more accessible to non-technical users, integrating advanced security features to ensure data privacy and compliance with global standards, and focusing on sustainability to align with the growing global emphasis on eco-friendly business practices.

What is your five-year plan?

Over the next five years, Staple will continue on its transformative journey to redefine document processing and data management across industries globally. Our plan is anchored in three pivotal areas: innovation, expansion, and partnerships.

We plan to continuously enhance our AI-driven solutions, focusing on advancing our capabilities in handling a broader spectrum of document types and languages. Our roadmap includes investing in research and development to push the boundaries of what our technology can achieve — particularly in machine learning and artificial intelligence.

Staple intends to broaden its market reach, targeting new sectors and geographies. Recognising the universal challenge of efficient data management, we see immense potential in the healthcare, finance, and logistics sectors, where our solutions can have a significant impact. Expanding our presence to new regions will involve strategic marketing efforts and leveraging cloud-based technologies to ensure our solutions are accessible anywhere in the world.

A key component of our five-year strategy is forging and deepening strategic partnerships. Collaboration with industry leaders, technology partners, and innovators will enable us to integrate our solutions with various platforms and systems, enhancing the value of our offering. Partnerships will also open up new channels for market penetration and customer engagement, allowing us to deliver our solutions to a broader audience.

Also Read: Navigating the AI frontier: Strategies for scaling for SEA startups

We plan further expansion into Asian and European markets and a new expansion into the Americas to service truly global enterprises with a universal solution. We also plan further development of our AI capabilities to evolve from “enterprise automation” to the “autonomous enterprise”. Staple’s advances can support deeper workflow automation by handling exception management tasks that traditional automation tools cannot handle.

In parallel, we remain committed to delivering intuitive, efficient, and intelligent document processing solutions. Our focus on enhancing user experience, ensuring data security, and fostering a culture of continuous learning and improvement will guide our efforts.

Our journey over the next five years is not just about growth but empowering our clients to achieve unprecedented levels of efficiency and insight from their data, ultimately contributing to their success in AI.

How can we further promote the safe use of AI in the business ecosystem in Southeast Asia?

Promoting the safe use of AI in the business ecosystem, particularly in a diverse and rapidly growing region like Southeast Asia, involves a multifaceted approach. Governments in Southeast Asian (SEA) countries should develop clear and comprehensive regulatory frameworks that ensure that AI is used ethically and responsibly, with an emphasis on data privacy, security, and consumer protection.

Collaborations between governments, private companies, and academic institutions can lead to the development of safer AI applications. Such partnerships can facilitate knowledge sharing, develop best practices, and ensure alignment of AI advancements with public interests.

Educating the workforce about AI is crucial. This includes technical training for AI professionals and awareness programmes for business leaders and employees about the ethical use of AI, data governance, and privacy protection.

Also Read: Generative AI: Unprecedented adoption rates in 2024

Encourage AI developers and businesses to adopt transparent AI practices, including explainable AI models that allow users to understand and trust AI decisions and processes. Organisations should adopt ethical AI guidelines that dictate how AI is developed and used within their operations, encompassing fairness, accountability, and transparency.

Given that AI systems often process vast amounts of data, robust data security measures are essential, including secure data storage, encryption, and strict access controls.

Involving local communities in AI development processes can ensure that AI solutions align with Southeast Asian cultural and societal norms and values. Encourage the development of AI applications that address local and regional challenges such as healthcare, education, and environmental sustainability.

This not only promotes safe AI but also demonstrates its positive impact.

Regularly auditing AI systems for compliance with ethical standards and regulatory requirements can help in the early identification and mitigation of potential risks.

SEA countries can benefit from cross-border collaboration in AI governance. Sharing best practices, regulatory frameworks, and learnings can lead to a more cohesive approach to safe AI usage in the region.

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Image Credit: Staple

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Ai Palette, a Singapore-incorporated startup enabling consumer packaged goods (CPG) companies to create products using AI and machine learning technologies, has bagged US$4 million in equity financing from local VC firm Tin Men Capital.

This brings the capital raised by the AI startup in the Series A extension round to US$5.8 million.

Also Read: How AI Palette wants to help CPG companies develop products faster and easier with AI

With the fresh funds, Ai Palette looks to expand further into the beauty & personal care and nutraceutical categories, which began development in November 2023. The injection will also fuel its global expansion in North America, Europe and the APAC regions and supercharge its Generative AI capabilities.

“Our goal is to streamline the entire journey from concept to launch, positioning Ai Palette as the go-to choice for CPG brands. With this investment, we’re primed to expand our market reach significantly and enhance our team with top-tier talent,” said Somsubhra GanChoudhuri, CEO and Co-Founder of Ai Palette.

Headquartered in Singapore with offices in the US and India, Ai Palette provides a multimodal AI-powered platform catering to the CPG industry in the F&B, beauty and personal care, and nutraceutical products.

The platform enables real-time identification of emerging consumer trends with contextual understanding and generates and screens product ideas within minutes. This improves the costs and efficiency of developing new product category entries, product line expansion, identification of new demand spaces, portfolio optimisation and product repositioning.

Its patented technology can identify emerging trends across 61 billion data points collated from 150-plus data sources in real time, uncovering consumer drivers and motivations and helping create product concepts and validate them to address unmet consumer needs. It utilises a Natural Language Processing algorithm that can also understand 18 different languages, including Asian languages.

Also Read: Foodtech startup Ai Palette gets US$1M seed funding from Decacorn Capital, others

The startup’s clients include Fortune 500 giants such as Nestle, Danone, and Kellogg’s.

“Ai Palette’s solution is a classic example of a masterful blend of cutting-edge technology and an acute understanding of customer pain points to revolutionise traditional processes. Their solutions materially shorten product development timing for the CPG industry by as much as 6 months. The unique application of Generative AI also removes bias while enabling enterprise clients to drastically improve product development success rate and maximise revenue through speed to market,” said Jeremy Tan, Co-Founder of Tin Men Capital.

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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.

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Singapore’s edutech accelerator EduSpaze has unveiled the six early-stage Southeast Asian startups selected for its three-month programme.

The latest batch of startups aligns with the accelerator’s programme goal of supporting the development of innovative solutions that can improve the education landscape in Singapore and the region.

The six startups were meticulously selected due to their high market potential and scalability, strong founding team, and clear value proposition while displaying great potential.

Also Read: In this age of digitalisation, is edutech a bane or boon for educators?

As part of the programme, the edutech startups would receive seed funding and mentorship from industry experts, access to a network of investors, and opportunities to expand their businesses in the region.

“The Southeast Asia region is known for its unique challenges and opportunities, making it a dynamic area for professional endeavours. This region comprises diverse countries, each with its own distinct characteristics and obstacles despite their geographical proximity. We observe varying levels of readiness for digital transformation among countries in SEA,” said Alex Ng, Managing Director of EduSpaze.

For example, with a 98 per cent internet penetration rate among students in Singapore, the Edtech Masterplan 2030 is focused on creating a seamless and enhanced learning environment for students. “However, in countries with low internet penetration rates like Cambodia, their edtech policy prioritises expanding access to quality education for marginalised communities. As such, we are committed to bolstering the growth of the eighth cohort, to foster innovation and address the diverse educational needs and capacities within the SEA region,” Ng added.

EduSpaze, operates under the umbrella of Spaze Ventures, a seed capital firm and startup incubator, and is supported by Enterprise Singapore. Now in its eighth iteration, the programme strives to empower and uplift edutech startups within the region. Past participants of this initiative include Flying Cape, ClassPoint, and myFirst.

Below are the profiles of the six startups:

Yaho Lab (Vietnam)

YAHO! is a tutor and class matching platform designed for children aged 2-12. The edutech firm connects parents with verified and trained tutors for in-home services within 24 hours, considering the child’s age, personality, interests, and individual requirements.

Edvance (Malaysia)

Edvance provides schools with a suite of school management systems aimed at digitising various aspects of school operations, such as fee collections, billing, and classroom scheduling. In collaboration with their credit partner, they address the cash flow requirements of schools by providing invoice-based lending solutions. Concurrently, it handles collections by offering parents multiple payment methods.

Also Read: Edutech in SEA is still “far behind compared to North America” – but there is some hope

Quippy (Thailand and Hong Kong)

Quippy is an AI-based platform for learning Chinese speaking skills, designed for K12 students. It’s affordable and user-friendly, tailored for K12 learners.

School On Cloud (Singapore)

SOC presents an innovative suite of learner-centred products designed to provide personalised education. Starting with FunBooks, an interactive online portal featuring e-storybooks and learning videos, SOC gathers valuable data on learners.

Safe Space (Singapore)

Safe Space fortifies mental resilience through swift and cost-effective access to high-quality mental health therapy care, available both online and offline. Additionally, the edutech offers preventive education and a customised Employee Assistance Program (EAP) that is not only hyper-local but also globally scalable.

Sala Tech (Cambodia)

Sala is a two-sided marketplace for high school students to find their path and for institutions to connect and engage more students through the school management suite. Through Sala, high school students in Cambodia can access advice, guidance, deals, information and networks to make study an enjoyable experience while connecting them to the right opportunities.

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Launching a startup is never easy, and there are lots of things you have to take into consideration before you decide to make that massive step. This is particularly true with e-commerce startups.

One of the issues you should focus on is your finances, and creating a proper budget could really go a long way. You should also try to cut costs as much as you can, of course, and save as much money as possible. If that’s something you’re thinking about doing as well, here are some strategies you should look into.

1. Opt for online accounting

Having your own accountant is one of the things people used to pay lots of attention to in the past, and entrepreneurs of the previous generations took huge pride in having the best accountant in the area.

This could, however, turn into a massive expense, and that’s not something you should want for your new business. Luckily, you can find a solution in the online world and opt for an online accountant instead.

Also Read: 3 mobile commerce trends that Singapore e-commerce shop owners must know

This will probably be a lot easier, cheaper, and quicker than having your own accountant. You can also opt for a helpful app, and do everything on your own, thus saving quite a lot of money on a yearly basis.

2. Use an inventory control app

No matter what you do and how big your e-commerce startup is, the chances are you’ll have to deal with some sort of inventory. This means you’re going to need to find a way to control your inventory and manage it properly, which could turn out to be rather expensive.

But, again, if you choose an online solution, you could accomplish quite a lot for only a fraction of the price. Using an app is also a quicker alternative, and you’ll basically be saving valuable time every time you’re checking, changing, or working on your inventory.

3. Design seamless experience

Making your customers feel fully satisfied with your services should be your top priority, as it not only builds brands loyalty but also reduces the cost of developing new products and services.

It is no wonder, then, that the people behind an innovative master course in service design underline the importance of testing specific approaches, methods and tools when developing projects related to creating new services, evaluating and transforming existing services or implementing operational changes at the supplier level.

Also Read:  3 ways voice assistants is going to change the game for e-commerce

Your business should encourage an experimental attitude and collaboration with users to come up with the solutions that the consumers need more quickly and effectively.

4. Rethink your office supplies

Every business needs some office supplies, and your new e-commerce startup is no different. However, not just any supplies will do, and you need to think long and hard before spending your money on them.

Buying your essential office supplies in bulk might make a lot of sense financially, and you won’t have to worry about running out of supplies anytime soon.

So, what you need to do is find everything you need at one reliable seller and use their affordable paying options as much as you can. This will save you more money than you’ve anticipated, and make your life a lot easier at the same time.

5. Switch to cloud-based services

Instead of cluttering your office with tons of paper, hundreds of binders, and a ton of useless junk, you should explore the benefits of the 21^st century, and switch to cloud-based services.

This way, you’ll be able to do your work more quickly and efficiently than before, but will also be able to share it with your colleagues, business partners, and other people you work with. From Google Apps for work and Dropbox to Skype and Slack, these things will make your job much easier and quicker, and that’s something all e-commerce startups need.

6. Consider outsourcing

Instead of speaking tons of money on hiring full-time employees, you should consider outsourcing them. There are lots of people all around the world who would be happy to work for you as freelancers or home-based employees, and both of these options will significantly cut your costs. Outsourcing comes with a number of other benefits as well, so explore this idea and invest your time into turning it into reality.

When it comes to working from home, if you let your employees do that, you’ll be saving money on office costs. Instead of spending a ton of money on designing, equipping, furnishing, and running an office full of people, you could all work from your own homes and still do an amazing job. Discover reliable apps that allow you all to stay in touch, assign tasks, and solve problems at the same time – wherever you are in the world.

Reducing your e-commerce startup costs won’t be easy, but, after all, running a successful company is as far from easy as you can imagine. That’s why you need to work hard in order to find the ideas that are cost-effective and figure out ways to make them work for your startup as well.

Once you do that, you’ll immediately start being more successful and productive, and that’s always a good thing.

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Image Credit:  rupixen

This article was first published on October 29, 2019

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wagely, an Indonesian earned wage access platform with a presence in Bangladesh, has secured US$23 million in new funding.

The latest round, led by Capria Ventures, comprises a mix of equity and debt financing.

Existing investors also participated. An unnamed private debt fund also made a significant contribution.

Also Read: ‘As workplaces rapidly change post-pandemic, the way people getting paid changes too’: wagely CEO

wagely will use the fresh capital to expand further its earned wage access service in Indonesia and Bangladesh.

A financial wellness platform, wagely offers workers visibility into their daily earnings and instant access to earned wages. This allows workers to better manage their money by letting them access their pay after each workday. It is offered free to employers, who then provide it as an optional benefit to employees.

The startup also allows users to track their salary and access financial literacy resources.

In 2023 alone, wagely claims to have disbursed over US$25 million in salaries, processing close to one million transactions and being accessible by 500,000 workers.

In March 2022, the company raised US$8.3 million in pre-series A round, led by East Ventures, with contributions from existing backers Integra Partners, the ADB, Global Founders Capital, Trihill Capital, Blauwpark Partners, and 1982 Ventures.

Also Read: wagely nets US$8.3M pre-Series A to grow in Bangladesh

As much as 75 per cent of the nearly 195 million workers in Indonesia and Bangladesh navigate financially challenging situations, relying on each paycheque to make ends meet. Lack of access to conventional financial services leaves a significant number of workers without the necessary financial tools and support to help improve their financial well-being.

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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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