Venture capital firm Malaysia Venture Capital Management Berhad (MAVCAP), with a portfolio nearing MYR5 (US$1.25) billion, is investing as a limited partner in Vynn Capital’s latest Mobility and Supply Chain Fund.

The Mobility and Supply Chain Fund, with a targeted size of US$30 million, aims to innovate Southeast Asia’s technology landscape in the mobility and supply chain sector.

Malaysian venture capital firm Vynn Capital established a fund to tackle challenges and opportunities in Southeast Asia’s mobility and supply chain sectors. The fund is directed towards early-stage startups in the region raising Seed to Series A rounds.

YAM Tunku Ali Redhauddin ibni Tuanku Muhriz, Partner at Vynn Capital, commented, “As one of the most experienced venture backers in the region, MAVCAP will continue to provide us access to institutional networks, allowing us to provide better support to our portfolio companies. This is especially important in the world of constantly changing market dynamics.”

Also Read: DANA Indonesia advocates fintech companies’ vital role in advancing financial inclusion

With the backing of experienced partners, startups can access essential resources and expertise to drive innovative solutions for the future of vehicle and transport infrastructure. The Mobility and Supply Chain Fund also aims to address current challenges in fostering a more sustainable and greener environment through technological solutions. This positions Malaysia at the forefront of fostering innovation in the mobility industry and promoting regional collaboration by strategically investing in companies targeting the broader Southeast Asia market.

“This collaboration aligns with our mission to catalyse innovation and growth in Malaysia and across Southeast Asia,” said Shahril Anas bin Hasan Aziz, Chief Executive Officer of MAVCAP.

With support from Sime Darby Berhad, the Fund is also enabling greater private partnerships and encouraging industry players to invest in technology companies, thereby enhancing the future of mobility across Southeast Asia.

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Vietnam was recently ranked top in the Global Cryptocurrency Adoption Index by Chainalysis, thanks to its high purchasing power and population-adjusted adoption of various cryptocurrency tools, including DeFi and P2P platforms. A case study showed 200,000 web3-focused groups with a 70 per cent open rate, indicating a significant audience for web3 marketers.

However, the challenge for marketers is the lack of a seamless interface to engage with this audience. Nicegram is a messenger app providing an interface for direct engagement with the crypto community. The app claims to have 25 million users worldwide, of which 3.6 million are from Vietnam.

In this interview, Sergey Sheleg, Chief Product Officer at Appvillis (parent of Nicegram), discusses the increasing crypto community engagement in Vietnam and how the app drives engagement through web3-specific features.

Excerpts:

What are the factors contributing to the growth of cryptocurrency in Vietnam?

Vietnam is blessed with a young and tech-savvy population, nearly 25 per cent of which is aged 17-35. It has undoubtedly helped emerging technologies, such as blockchain, AI, and cryptocurrency, thrive.

A potential reason why cryptocurrencies have found more takers is the fact that nearly 70 per cent of adults lack access to formal financial services. This makes crypto a potential alternative for wealth creation and payments. The strong indicators on the demand side are complemented by a futuristic startup ecosystem, enabling technological innovations in security and user experience to flourish.

Also Read: Vietnam’s Web3 revolution: Beyond Axie Infinity, unveiling the rise of diverse crypto startups

The result is there to see as regional and global blockchain startups compete to influence the payments sector positively for over 5.5 million crypto users.

As the Appvillis CPO, what role do you believe innovative technology plays in supporting the growth of the Web3 community in Vietnam and globally?

Consistent innovation is a cornerstone in nurturing the growth of the Web3 community, both in Vietnam and on a global scale. It’s about leveraging technology as a tool and an ecosystem enabler to foster connectivity and creativity.

With a burgeoning interest in digital innovations, technologies like blockchain and AI are pivotal in demystifying Web3 concepts in Vietnam and making them accessible to a broader audience. Globally, these technologies serve as a bridge, bringing together diverse communities under the umbrella of Web3, facilitating seamless interactions, and driving forward the digital economy.

The role of innovative technology is also crucial in fostering an environment of trust and security, which are fundamental in the Web3 space. By continually adapting and evolving our technologies at Appvillis, we aim to stay at the forefront of this digital revolution, empowering users and communities to explore and embrace the vast possibilities of Web3.

How has Nicegram managed to facilitate a high engagement rate, and what strategies or features have contributed to this success?

Nicegram’s significant traction in Vietnam hinges on our ability to blend advanced messaging features with deep community engagement. This synergy has resonated strongly in a market traditionally known for its community-centric values.

Central to our success has been a strategically designed referral programme that harnesses the power of community networks, amplifying our reach and impact. Furthermore, the anticipation and excitement among our Vietnamese users for our upcoming Web3 and SocialFi developments have significantly bolstered our position. This keen interest clearly indicates our alignment with the evolving digital needs and aspirations of users in the region.

Could you share insights into the challenges faced by marketers targeting the Web3 community and how Nicegram addresses these challenges to enhance user engagement?

In the Web3 space, community managers face several challenges in educating and speeding up adoption among target consumers. Nicegram has largely managed to overcome this issue as a community-focused messenger interface. Our approach enables community managers to access tools encompassing AI, analytics, advertising, monetisation, engaging mechanics, educational content, gamification, and blockchain integration to achieve their key user engagement objectives.

Also Read: Visionaries clash over idealism while tech industry embraces Web3’s game-changing potential

Integrating these tools into Nicegram allows for continuous education and engagement within a familiar environment, making it easier to grow, nurture, and maintain interest among communities in decentralised projects.

Nicegram’s AI assistant is popular among Telegram community administrators because it streamlines content management within Messenger. We also focus on developing tools for growth, monetisation, and promotion of communities.

Conversely, features such as community reputation systems and token-gated access ensure access to credible data to assess the value of various communities. An initiative we are invested in is creating a hub for Telegram communities, which will function like a launchpad for communities. This hub will provide all the necessary tools for growth and development in one place and drive greater ROI for marketers.

Considering the increasing popularity of DeFi platforms, how does Nicegram incorporate features that cater specifically to the DeFi community within its user base?

SocialFi epitomises the seamless integration of DeFi into social networks. At Nicegram, we’ve been actively exploring how to maximise this integration’s impact on our platform and deliver the greatest value to our users. We believe that SocialFi is the most fitting and forward-looking direction for the evolution of a messaging app, a belief supported by our internal surveys indicating that about 70 per cent of Nicegram users are already engaged with cryptocurrency or decentralised/crypto services.

Integrating blockchain technology, DeFi and cryptocurrency into messaging apps is a fundamental shift that brings new opportunities for users and creators.

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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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The Crypto Wealth Report revealed a surprising increase in global crypto adoption in 2023. 

Malaysia ranked 10th in the report, surpassing expectations in high-income countries such as Singapore and the US. This achievement, particularly in ‘Innovation for Technology’ and ‘Economic Factors’ metrics, not only highlights Malaysia’s growing crypto community but cements its position as a formidable crypto hub contender in Southeast Asia. 

These findings showcase the versatile and universal impact of blockchain technology across various economic strata, from upper-middle-income to well-established economies. Malaysia has actively embraced blockchain technology, using it as a tool for innovation, overcoming infrastructural challenges and fostering solutions that address real-world challenges. 

The growth of local Malaysian crypto communities, spearheaded by a new wave of developers and entrepreneurs, is not just about technological advancement. It is the nation’s commitment to leverage advanced technologies like blockchain to uplift communities.

Financial inclusion through blockchain

In contrast to higher-income countries, a significant portion of the population in upper-middle-income economies remains unbanked or underbanked. In Malaysia, approximately eight per cent of the population is unbanked, while over 55 per cent are underbanked. Despite these challenges, the country’s high internet penetration rate, at 97.3 per cent, presents a unique opportunity for financial inclusion through blockchain technology. 

Also Read: Understanding the role of fintech, blockchain in transitioning to net zero

Blockchain-powered financial services offer a gateway for individuals to access essential services like banking, remittances, and microloans. This advancement is particularly crucial in bridging the gap for those traditionally excluded from the financial system. 

A testament to this potential is the partnership between Acxyn and MDEC. Acxyn, the world’s first IP tokenisation platform, revolutionises the concept of asset ownership. By converting intellectual property into tradeable digital assets, it enables individuals to invest in diverse commodities such as digital art, game assets, and software. More than asset tokenisation, this innovation also democratises investment opportunities for the broader population, given they have access to a smartphone and internet connectivity. 

Initiatives like this, when supported by the government, are instrumental in driving economic growth from the grassroots level. They not only validate the transformative potential of blockchain technology but also underscore the government’s commitment to fostering innovation, bringing these solutions to the market, and positively impacting communities.

Real problems, real solutions

One of the most significant advantages of blockchain technology is its ability to address real-world problems. This is particularly evident in the strategic partnerships between government entities and emerging tech startups. These collaborations are crucial in harnessing innovation and new technologies to create fresh opportunities within the economy. 

A prime example is the recent partnership between Quurk and MDEC, a game-based learning company. Quurk is pioneering the first open-world learning game in the Web3 space, offering a unique platform where students can learn to code. More than just an educational tool, this initiative leverages blockchain technology to make education more accessible and engaging. Young developers not only learn how to code but also develop skills which are becoming increasingly relevant, thereby futureproofing the next generation of leaders.

Such public-private partnerships, particularly within the blockchain ecosystem, are important in upskilling the next generation. They play a pivotal role in increasing educational accessibility, thereby preparing young individuals for a rapidly evolving digital world. Beyond the economic space, blockchain technology’s societal impact is also profound.

Also Read: Exploring blockchain’s potential impact on the education sector

It extends to job creation, attracting foreign investment, and community education. By fostering educational opportunities and nurturing the next generation of entrepreneurs, these initiatives enable societies to reskill and upgrade, positioning themselves competitively on the global stage. 

To sum it up

In conclusion, the integration of blockchain technology in developing nations like Malaysia marks a transformative era. This integration goes beyond being a trend, emerging as a robust solution to address real-world challenges.

By enabling access to banking investment services, blockchain technology plays a crucial role in narrowing the financial inclusion gap, democratising financial opportunities and bringing economic empowerment to those previously excluded, particularly the unbanked and underbanked populations. 

Furthermore, the blockchain is also a catalyst for creating new opportunities. It stimulates investments and nurtures a new generation of entrepreneurs. The commitment of local communities, when combined with strategic collaborations and support from governments, is pivotal in driving this transformative change. 

As upper-middle-income societies begin to embrace blockchain technology, they are provided with the opportunity to adapt and thrive. This adoption is key to bridging the development gap with more affluent Western nations, positioning these societies at the forefront of the global innovation landscape.

More than a technological advancement for upper-middle-income nations, blockchain technology represents the cornerstone of a more inclusive future, set to pave the way for equitable growth and shared prosperity.

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Darewise Entertainment, a Web3 game technology company and subsidiary of Animoca Brands and the company behind Life Beyond (gaming metaverse), and Animoca Brands Japan have joined hands with Honda Motor to co-develop transportation and vehicle-related gameplay in Life Beyond

The collaboration will see Honda’s innovation and craftsmanship integrated into Life Beyond “to usher in a new era of transportation” on the world of Dolos, the planet where Life Beyond (the upcoming AAA science fiction destination) takes place.

Also Read: ‘Young, tech-savvy population contributes to cryptocurrency growth in Vietnam’

Honda and Darewise will co-develop new gameplay and game assets for Life Beyond, including in-game items, activities, and Ordinals featuring Honda.

Benjamin Charbit, CEO of Darewise, said: “In addition to adding to in-game utility and style, we think that the ideation and innovation generated by this collaboration will enhance the game experience tremendously.”

Darewise Entertainment is a Web3 game technology company founded by veterans of the AAA games industry that is currently developing the sci-fi MMO Life Beyond. It has offices in Paris, Barcelona, and London.

Also Read: Animoca Brands Japan secures US$45M from parent, Mitsubishi

Life Beyond is a gaming metaverse where players embark on a journey to build a new civilisation on Planet Dolos. In this sci-fi world powered by a player-driven tokenised economy, player-citizens can decide who they want to become and the role they want to play in Life Beyond’s complex and many-layered society. The project embraces the open metaverse philosophy to create immersive experiences.

Last October, Animoca Brands announced a strategic partnership with NEOM Company, the company behind Saudi Arabia’s iconic project NEOM City, to drive regional Web3 initiatives in line with the Kingdom’s Vision 2030 plan. Animoca Brands will work with NEOM on building Web3 enterprise service capabilities with global commercial applicability, which will be deployed to support technology advancements in Riyadh and the NEOM region.

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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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How hard is to build a global tech company without taking VC money?

“Quite hard”, admits Stephanie Sitt, Co-founder and CEO of Inmagine Group, parent of well-known stock images site 123RF.com.

Andy Sitt and his wife Stephanie Sitt started Inmagine in 2000 when ‘startup’ was still an alien word in most parts of the world. Today, with over 350 employees across 44 offices worldwide and with a content portfolio of over 100 million unique files, Inmagine owns and operates a number of companies across stock libraries of images, vectors, audio, footage, design elements, templates and editing tools to cater to multiple clientele, geography and partner.

Its business units also include CraftBundles, Designs.net, EasyDesign, LoveSVG, TheHungryJPEG (which it acquired in March 2017), Pixlr, SoundBounce, StockUnlimited, Story & Heart, and Vectr acquired in November 2017).

In an email interaction with e27, Stephanie Sitt talks about the group’s growth, challenges, acquisitions and future goals.

Below are the edited excerpts from the interview:

Inmagine Group was started in 2000. Had the founders imagined the company to become global when they started?

Having run a bootstrapped startup for 19 years, it has definitely been a rewarding journey. We always ensure that our goals are placed at every milestone and hire the right talent to grow and become a global, holistic creative ecosystem.

Additionally, we strive to always stay ahead of the curve and be consistent year-on-year growth by being a fluid and dynamic organisation that responds to customers and acclimatizes towards market conditions.

Also Read: AI has the potential to perpetuate harmful biases, says Inmagine CEO

Only a few tech companies in the world have conquered great heights without raising external investment. How did Inmagine manage to grow big without funding? Did it have any VC investment offers during its more than 18 years of existence? 

We are proud to be 100 per cent bootstrapped, and our growth has historically been funded through internally generated funds. There were offers of investments in the past, but generally, it’s all about having the right fit at the right time where the factors are aligned with our vision.

Your business is centred around designs and digital pics. Are all your business units profitable already? What are the new products in the pipeline? Do you have plans to venture out to any other verticals moving forward?

While our core business focuses on offering world-class content stock libraries and editing tools to cater to multiple clientele, geography, and partners, we are more than just a content company. As a global key player, one of the elements that sets us apart from our competition is our blend of creativity and technology. And so, apart from possessing a wealth of stock content at our fingertips, we offer a more complete solution specifically catered to our customer’s needs using Artificial Intelligence, content and data, and Machine Learning.

Inmagine has acquired several companies, mostly in the US. Have you ever looked at any Asian/Southeast Asian companies for acquisition?

We do not determine our acquisitions based on location. We have acquired companies in the US, the UK, Canada, and Taiwan and have joint venture partnerships as well as investments in others. Many investments and acquisitions are strategic and meant to complement our creative ecosystem.

We analyse the current market opportunities and gaps within our current portfolio and move forward with identifying and determining the right organization to fill those gaps.

Have you ever been approached by any MNCs to buy you out? 

No comments.

Also Read: How Inmagine is Googlising its workplace to foster an inclusive and collaborative work culture

Do you have plans to launch an IPO or get any other forms of exit in the near future?

We are always open to different strategic options at a corporate level.

Which of the business units is your key revenue generator, and which is your largest target market — Asia, Europe or America?

It goes without saying that historically, most of the revenue has come from 123RF.com, our hero brand. Nonetheless, as our portfolio gradually strengthens, we are noticing that the spread of revenue is becoming uniform across the business units – especially Pixlr, TheHungryJPEG, etc.

Regarding geographies, we have a very evenly split across North America, Europe and Asia. Although we are an Asian-based company, we are still recognised as a global player, with revenue coming in from more than 40 locations that we operate in.

As of today, we have hundreds of customers across the globe, ranging from small SMEs looking for simple solutions on branding and creativity to large enterprise clients utilising multiple services of ours to help create engaging brand experiences and stories. Our client reach is across every market segment, encompassing of media and publications, advertising and creative agencies, travel and transpire, eCommerce and Internet, etc.

Can you share your FY18-19 revenue details? 

No comments.

There have been a handful of free stock image sites in the market. Does this affect the revenues of 123RF?

Although there is a certain market segment for free sites, companies such as Inmagine Group focus on quality assurance and authority. As mentioned, while we focus on offering micro stock content and editing tools to various clients and consumers, we are more than just a content licensing company.

Also Read: Astrology-agnostic? Wait. Here’s a startup that can predict whether your startup will fail or not

Apart from having a platform with over 120 million content, we offer a holistic solution tailored to customers’ needs using AI, content and data, and Machine Learning.

There are quite a few stock image firms across the globe. How tough is the competition? 

With large organisations like Shutterstock, Adobe Stock and Getty, one can affirm that we’re in a highly competitive market space. However, we like to differentiate ourselves based on our ability to consider our customers’ demands and feedback, needs and requirements, and anticipate challenges ahead of the curve by delivering quality solutions. We have an increasingly varied portfolio of products and services, especially in the SaaS space, which differentiates us from the rest.

How have your acquired companies been getting along? Are they adding real value to your businesses?

Yeah, without a shadow of a doubt!

Our acquisitions have been thought about long and hard and have been hand-selected on our ability to predict market and customer requirements. All acquisitions fit into fulfilling our mission of empowering creative professionals.

Have you ever thought of integrating cutting-edge technologies like blockchain to your products? 

We were entertaining the idea but have decided that it is not an area of focus for now as it’s still in the early stages due to market fragmentation.

What are your long-term goals? Where do you want to see Inmagine, say, ten years down the line?

World domination!

While we pride ourselves on being a leading global creative ecosystem, we are moving forward to strengthen the duality of being a creative tech company, especially on the technology-driven aspect that involves AI, content and data, and Machine Learning. This will allow Inmagine Group to serve startups, freelancers, agencies and enterprises better.

Also Read: Malaysia’s stockphoto darling 123RF gets capital injection via venture debt

How are you contributing to the Malaysian startup industry? Do you have plans to launch, say a VC fund for startups? 

We occasionally invest in startups and businesses relevant to our industry, but there are no plans to set up a VC fund. As mentioned above, our investments are not restricted to Malaysia as most of the players in the creative industry serve the international and global markets.

How hard was it to start and build the company without taking external financing when the Malaysian startup ecosystem was still in the early stages? What were the major challenges the company faced back then? What would be your advice for young entrepreneurs who are always hungry for VC funding?

Nineteen years ago, I co-founded Inmagine Group to build a better creative ecosystem for tomorrow so we can help individuals and businesses tell their stories using creative imagery, sounds and motion contributed by talents from around the world.

Today, we’ve amassed 115 million online content across all media types, with 10 million to 12 million visitors monthly. Considering only about half of businesses survive five years, my advice is to reach out and network with the right circle as well as acknowledge your startup’s greatest asset — people.

It was a lonely journey during the initial years because not many were ready to take the same leap of faith as yourself to go on an entrepreneurial venture. However, corporates today are keener to invest for ideas that have the potential to be ahead of the curve in the market. And so, I strongly encourage young entrepreneurs to be opportunists and approach as many investors as possible, and then make the effort to socialise, especially at entrepreneurial events.

At first, a startup is a collection of people. Having the right people on your team, especially early on, is the single biggest determinant of your success. So, find the best people and invest in them. When you’re a startup, they’re likely the only real assets you have.

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Image Credit: Inmagine

The article was first published on February 18, 2019.

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At the recent World Economic Forum (WEF) event, held in Davos, Switzerland, fintech company DANA Indonesia took part in a panel discussion on the role that global fintech plays in fostering resilient and inclusive growth.

The result of a collaboration between WEF and Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School, the report was based on a survey conducted to 200 global fintech companies in five industry verticals: digital lending, financing, payments, banking and savings, and insurtech in five regions.

It highlighted the role that global fintech industry plays in widening access to financial inclusion for unbanked and underbanked societies–which is dubbed as an “integral part” of the consumer base and total transaction value of fintech services.

In the panel discussion, DANA Indonesia CEO Vince Iswara revealed how fintech services introduced unbanked society to the ease and practicality of transacting and managing their finances.

“We keep on seeing positive growth trends in fintech usage from both individuals and businesses. In fact, the use of fintech services continued to grow and persevere through uncertain times such as the pandemic. DANA noted more than 100 per cent increase in transactions in its platform followed by a 30 per cent increase in the number of DANA Bisnis users compared to the previous year (YoY).

Iswara also revealed that one of the participants’ of the company’s SisBerdaya programme, Dituta, experience a 900 per cent growth with IDR90 million in revenue after taking part in the programme.

Also Read: Understanding the role of fintech, blockchain in transitioning to net zero

Strategies to reach out to underbanked society

During the panel, DANA Indonesia explained the approach taken by fintech companies to reach out to underbanked societies, particularly in accessing insurance and investment products. One of them includes adjusting the limitations to purchase insurance and investment products.

For DANA Indonesia, this can be seen in their micro-scale insurance and investment products DANA Siaga and DANA eMAS.

“Using this approach makes it easier for users to see the advantages of using fintech services and making these instruments an essential part of their daily lives. As a result, this can be an entry gateway for unbanked societies
to become an inclusive and financially healthy society,” Iswara said.

Founded in 2018, DANA Indonesia secured unicorn status in 2022 following a US$554 million funding round.

At WEF, the company spoke at a panel discussion with Bryan Zheng Zhang (Executive Director and Co-Founder, Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge), Drew Propson (Head, Technology and Innovation in Financial Services, World Economic Forum), and John Rwangombwa (Governor of the National Bank of Rwanda), with Naoko Tochibayashi (Japan Communications Lead, World Economic Forum) as a moderator.

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Image Credit: DANA Indonesia

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Breaking barriers in finance: Imagine a world where sending money across borders takes minutes rather than days. Where trade paperwork vanishes, replaced by a secure, digital trail. Welcome to the game-changing world of Distributed Ledger Technology (DLT), poised to revolutionise traditional banking.

What is DLT? Think of it as a shared record book spread across multiple computers instead of just one. Every transaction — a payment, trade deal, or securities transfer — is logged and visible to all authorised users. This transparency and shared responsibility pave the way for a faster, more reliable, and fraud-resistant financial system.

The world of banking stands at a crossroads. Old, manual processes groan under the strain of globalised trade and rapid financial innovation. New technologies, however, promise a smoother, faster, and more inclusive future. Among them, Distributed Ledger Technology (DLT) shines exceptionally bright.

Imagine a database shared seamlessly across institutions, where transactions are verified instantly, costs plummet, and transparency reigns supreme. DLT makes this dream a reality. This decentralised ledger acts as a single source of truth, eliminating the need for multiple intermediaries and their accompanying overhead. The result? Faster, cheaper, and more accessible financial services for everyone.

Cross-border payments, a notorious black hole of time and money, could see transaction times slash from days to minutes and costs tumble by up to 60 per cent. Trade finance, currently bogged down in paperwork and fraud risks, could be streamlined, with document management automated and settlement times plummeting from days to mere minutes. Even securities settlement could undergo a metamorphosis, becoming faster, more efficient, and less prone to human error.

Also Read: Gen AI in banking: How to ensure a successful transformation for an age-old industry

The benefits extend beyond streamlining existing processes. DLT opens the door to entirely new avenues of financial innovation. Once impractical due to high transaction fees, micropayments become viable, paving the way for new business models and revenue streams. Regulatory compliance, too, gets a boost, with KYC/AML processes simplified and data security enhanced.

Concerns about scalability and regulatory clarity remain, but can we afford to ignore the immense potential of DLT? We need to address these challenges head-on and unlock the transformative power of this technology.

Over 80 per cent of Global Financial Blockchain Council members are involved in DLT initiatives, demonstrating a clear shift in industry sentiment. Experts like Kaj Burchardi of BCG Platinion emphasise the technology’s ability to “enhance efficiencies, reduce operating costs, and create new business models”.

The future of transactional banking is no longer a question of whether DLT will be integrated but rather when and how. Traditional financial institutions must seize this opportunity to bridge the gap between antiquated systems and the demands of a rapidly evolving economic landscape. By embracing DLT, they can improve their financial performance and contribute to a more efficient, inclusive, and innovative financial ecosystem.

The World Economic Forum sees DLT streamlining cross-border payments and trade finance, saving billions. Burchardi believes it will pave the way for innovative financial products tailored to specific needs. The Global Financial Blockchain Council reports that over 80 per cent of its members are actively developing DLT solutions.

For traditional banks, embracing DLT is about keeping up and leaping ahead. It’s about offering customers faster, cheaper, and more secure services, driving innovation, and unlocking new avenues for financial performance. Dive into the resources provided, explore DLT’s potential, and join this exciting new banking chapter.

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

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Building a business from the ground up is not an easy vocation, but entrepreneurship can be empowering and life-changing.  In Asia, there is a growing number of successful women entrepreneurs who have found their “mission in life” and inspiring many others to have an entrepreneur mindset as well.

Some of the key driving factors to take up entrepreneurship include the opportunity to grow a supplementary income, be your own boss and gain a flexible work-life schedule. In fact, providing help for future generations of women entrepreneurs is one of the top motivating factors for women to start their own businesses.

Technological advancements have also levelled the playing field for women by helping advance work-life balance and making it easier for women to enter and succeed in this career choice.

Multiplier effects from women’s empowerment

However, despite economic growth and the increasing education opportunities for girls,  women’s overall labour force participation is just 48 per cent in Asia Pacific. There are strong reasons to push for improvements. Among them is the positive correlation between achieving the full economic potential of women and a more prosperous global business environment, which by some estimates, could give an additional US$12 trillion to annual global output by 2025.

Entrepreneurship can therefore be a way to create opportunities for women and help boost female economic empowerment. Women entrepreneurs have proven multiplier effects on poverty eradication, work productivity and economic growth. Studies have also shown that women’s empowerment leads to healthier families, higher schooling rates, and reduced child mortality.

Also Read: In March, we celebrated women in tech and returned to Myanmar

There are many industries that have stronger growth potential for aspiring entrepreneurs in the longer term. For one, the health and wellness industry offers attractive prospects that are driven by the rising prevalence of chronic diseases globally and consumer trends towards more balanced and healthier lifestyles. This is also an industry that we have typically seen more women gravitate towards, especially in our business.

Addressing challenges

In a Herbalife Women Entrepreneur survey, four in five women in Southeast Asia aspire to be entrepreneurs, but only three in five have taken actual steps to start their own businesses.

Overcoming startup costs

The greatest challenge cited by survey respondents was the high initial cost of starting a business. Here, microfinancing sources are widely used by women entrepreneurs in most Southeast Asia countries. There are also burgeoning initiatives in Malaysia and the Philippines to provide larger funding to businesswomen via bank financing. Lastly, government schemes are another way to help bridge market gaps in the allocation of financing to women-owned enterprises.

On the other hand, not everyone is ready to take up the financial commitment of starting a full-time business. Hence, having the option to keep one’s nine-to-five job while exploring side business opportunities to supplement one’s income is a viable option.

Flexibility is especially important for some women who may be dealing with becoming mothers. As an entrepreneur mum, one of our distributors shared how she enjoys the benefits of being her own boss, such as fixing her own schedules, spending time with her son throughout the day and even bringing him along to her nutrition club activities.

Finding supportive communities

Entrepreneurs face a myriad of hurdles on a day-to-day basis. Some common challenges include upskilling on good business basics and digital literacy and adapting to steep learning curves.

On top of this, female entrepreneurs could also face additional pressures like the lack of social support and financial knowledge, as well as being unsure of the first steps to take. In these situations, having a business network of supportive communities or mentors can be crucial.

There is immense value in being part of a community of like-minded women entrepreneurs that can inspire and motivate each other. More importantly, connecting with women entrepreneur associations can provide leads on business development support programs that are tailored to the challenges that women face.

For instance, studies show that mentorship is important for women entrepreneurs when it comes to enhancing personal and business growth and fostering a transformational leadership style.

Also Read: Women in industry 4.0: How modern startups can equalise the playing field

In Herbalife, our mentorship model aims to provide new distributors with sufficient training and marketing tools to build their businesses. Mentors can help new female entrepreneurs deal with negative responses from customers, as well as share strategies to help them get a “yes” more consistently. Our distributor communities also provide a platform for entrepreneurs to voice out their challenges and overcome them as a team by brainstorming solutions together.

 All eyes ahead

Entrepreneurial aspirations among women are already high in this region, and it’s been shown that women-led businesses can bring a positive impact across families, communities, and nations.

What is needed now is a strengthening drumbeat of awareness and support that will inspire and galvanise female entrepreneurs to be brave and take the first steps towards their goals.

In parallel, we should take a moment to salute the rising number of successful businesswomen in Asia who have shown remarkable passion, resilience, and belief – all bearing hallmarks of an unquenchable entrepreneurial spirit.

It’s time we recognise that the longer-term stability and prosperity of our communities and, indeed, the wider socio-economic environment is deeply intertwined with the success of female entrepreneurs.

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The buildings in which people work, live, and play produce a huge amount of carbon emissions; building operations accounted for 30 per cent of global energy consumption in 2021. The building sector, like so many other economic sectors, is on a journey to become more sustainable.

Singapore, along with many other cities, faces the challenge of reducing its carbon footprint; buildings account for over 20 per cent of carbon emissions. Recognising the urgency of the situation, Singapore has pledged to have at least 80 per cent of its buildings certified green under the Green Mark scheme by 2030. This commitment reflects Singapore’s determination to raise the sustainability bar for buildings.

Achieving significant reductions requires a collective commitment to sustainability, including improved energy efficiency in buildings. This involves building owners, industry professionals, policymakers, and other stakeholders transitioning to the best solutions to enhance building performance.

While many stakeholders are making the transition, the question remains: why aren’t all building owners moving more quickly to adopt sustainable solutions that deliver reduced costs and reduced carbon footprints?

The challenges of operating traditional cooling systems

Buildings play a substantial role in greenhouse gas emissions, accounting for a significant portion of both direct and indirect emissions. In 2021, eight per cent of global CO2 emissions came from the use of fossil fuels in buildings, while six per cent were linked to the manufacturing of construction materials. However, the largest share of emissions, amounting to 19 per cent, resulted from the electricity and heating/cooling used in buildings.

Also Read: Propelling SG businesses towards sustainable future: How to inspire emissions plan creation

Building owners must provide comfortable environments for their tenants. In tropical climates, the solution to that traditionally involves purchasing, installing, and operating cooling systems. This process is complex, requiring multiple consultants, contractors, and operators, and comes with substantial upfront, ongoing costs for maintenance and operations, and inefficiencies that increase carbon output.

It is worth noting that despite advancements in cooling equipment performance and the decreasing carbon intensity of electricity production, indirect CO2 emissions from space cooling have experienced rapid growth. These emissions nearly tripled from 1990 to slightly over 1 Gt CO2 in 2022, with emissions in 2022 surpassing those in 2021 by over two per cent. With global temperatures on the rise, the demand for cooling is expected to escalate further.

For building owners and managers, transitioning to smart and sustainable cooling solutions has become a necessity rather than a choice. Governments worldwide are tightening their carbon policies, and Singapore is no exception. In its latest budget, the government announced progressive increases in the carbon tax, which is anticipated to reach US$50 to US$80 per tonne by 2030. This tax applies to all spaces generating 25,000 tonnes or more of greenhouse gas emissions annually, emphasising the need for sustainable practices in cooling and other areas.

AaS (As-a-Service) models for building operations

Drawing inspiration from subscription models like Netflix and Spotify, As-a-Service (AaS) models provide a pathway to addressing the challenges of sustainable building operations. AaS offers on-demand and customised services to meet the unique needs of businesses.

With AaS, businesses can bypass the need for upfront capital expenditure (CAPEX) costs and save money by accessing services. This allows for scaling operations, enhancing efficiency, and allocating resources more effectively.

Introducing CaaS: Cooling as a Service 

Within the As-a-Service model is Cooling-as-a-Service (CaaS), offering building owners a hassle-free approach to cooling solutions without the burdens of ownership. The advantages of CaaS are extensive, beginning with the elimination of upfront capital investments and ongoing maintenance expenses and, through greater efficiencies, reducing carbon footprints.

Also Read: Alt-food revolution: A look at SEA’s growing demand for sustainable food

With CaaS, building owners outsource a non-core yet vital activity. By closely monitoring and controlling the cooling system in real-time and utilising data and artificial intelligence, CaaS maximises cooling performance, eliminates energy waste, and enhances indoor experiences that adapt to changing building conditions.

Embracing CaaS also enables businesses to reduce their carbon emissions and environmental impact. Building owners can specify their cooling requirements and pay a fixed rate based on actual usage. Through comprehensive data analytics, building owners can gain valuable insights into their environmental footprint and identify areas for improvement.

For example, INSEAD Asia Campus and 1Elpro Park, both working with Kaer, have successfully reduced their carbon footprint with CaaS. They use the latest energy-efficient technologies and are powered by 100 per cent renewable energy. Collectively, Kaer saved its larger client portfolio 25,000 metric tonnes of carbon in 2022.

Transition to a low-carbon economy with CaaS

CaaS presents a golden opportunity to reduce carbon footprints, achieve cost savings, and streamline operations.

This CaaS transition not only accelerates the journey towards carbon neutrality and a climate-resilient future but also enables the handover of operating and maintaining cooling systems to experts. This allows businesses to focus on their core operations while enjoying the financial and environmental advantages associated with the ‘as-a-service’ economy.

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In the world of marketing, especially in the recent situation where brands are often tsunami’d with negative impacts due to morality issues, the golden ticket to success isn’t sugar-coated gimmicks but authenticity. Much like Willy Wonka’s coveted golden tickets, consumers today seek brands offering an authentic experience. In the realm of brand communication morality, the power of authenticity emerges as the sweetest treat in the marketing mix.

Willy Wonka, the eccentric chocolatier from the recent Wonka movie, which originated from Roald Dahl’s classic, Charlie and the Chocolate Factory, understood the allure of authenticity. His magical factory showcased the wonders of genuine passion and creativity intertwined. In the marketing realm, where messages often entice and persuade, the importance of authenticity cannot be overstated.

However, much like the young Wonka, most of us marketers and communications professionals are chock-full of ideas and determined to impress the world one delectable idea at a time – proving that the best way to put our brands out there is through creative storytelling and if we are lucky enough to perform the way the young Wonka would, we might just hit the jackpot.

The everlasting gobstopper of trust

In Wonka’s factory, the Everlasting Gobstopper represented a confectionery marvel — a treat designed to last forever. In the marketing world, trust is the Everlasting Gobstopper, and authenticity is the recipe for crafting it. Brands that consistently communicate their values and stay true to their promises create a foundation of trust that endures over time and potentially gets over tough times with minimal scratches.

Consumers today are more discerning than ever. They can spot a marketing ploy from a mile away, much like the way Charlie Bucket recognised the genuine nature of Wonka’s chocolate. Authenticity in brand communication is about going beyond the glossy exterior and revealing the core values that resonate with the audience.

The Oompa Loompas of ethical framework

Willy Wonka’s Oompa Loompas served as industrious workers behind the scenes, ensuring the seamless operation of the chocolate factory. Similarly, in the realm of marketing morality, it is imperative for a brand to establish a framework that assesses its practices and performance, serving as a guide for the brand to be socially accountable to itself, its stakeholders, and the public. This role acts as the ethical framework’s equivalent of Oompa Loompas for a brand.

Also Read: Barbie-fy your business with the power of PR

Brands that incorporate this framework into their identity demonstrate a dedication to making a positive impact beyond mere profit margins. Much like the Oompa Loompas singing moral lessons in response to misbehaving children, brands with a robust ethical presence utilise their platform to advocate for social and environmental causes. This isn’t merely a philanthropic gesture; it’s a manifestation of a brand’s commitment to being a responsible and conscientious member of society.

Navigating the chocolate river of cultural and religious sensitivity

In Wonka’s factory, the chocolate river was a mesmerising spectacle, but navigating its currents required skill and understanding. Similarly, in the diverse and culturally rich landscape of the market, brands must navigate the chocolate river of cultural or religious sensitivity.

Missteps in this area can lead to a sour taste in consumers’ mouths, and the consequences can be as swift and unpredictable as the currents of Wonka’s river. This has undoubtedly proven true when many brands find themselves associated with groups perpetuating harm to the innocent, facing the repercussions of such affiliations.

Authenticity in brand communication involves more than just crafting messages that resonate; it requires a deep understanding of the cultural nuances and values of the audience. Brands that recognise and celebrate diversity authentically not only avoid the pitfalls of cultural insensitivity but also create a stronger connection with their audience.

The golden goose of transparency

In Charlie and the Chocolate Factory, the Golden Goose laid eggs that held the promise of unimaginable wealth. In the real world, transparency is the Golden Goose that lays the eggs of consumer trust. 

Willy Wonka, with his mysterious persona, understood the allure of keeping an element of surprise. However, in the real world of brand communication, transparency is the key to fostering trust. Brands that are open about their practices acknowledge mistakes and communicate openly with their audience to build a reservoir of goodwill that can withstand challenges.

Also Read: Transforming tech performance: A brain-friendly growth approach

Avoiding the Vermicious Knid of manipulation

Consumers today are savvy and can spot when they’re being manipulated. Brands that prioritise authenticity over manipulative tactics not only build stronger connections with their audience but also avoid the long-term damage to their reputation that can result from deceitful practices.

Finding the golden ticket in authenticity

In the enchanting world of Willy Wonka’s chocolate factory, the journey to find the golden ticket was a metaphorical quest for something rare and extraordinary. In the world of brand communication, the golden ticket to success lies in authenticity.

Brands that weave genuine narratives, embrace ethical practices, navigate cultural sensitivity, prioritise transparency, and eschew manipulative practices find themselves holding the golden ticket to consumer trust and loyalty.

Much like the timeless appeal of Willy Wonka’s chocolate, authenticity in brand communication is the secret ingredient that keeps consumers coming back for more. As we continue navigating the ever-evolving landscape of marketing morality, let us remember the enduring lessons from the world of Wonka — the power of authenticity is not just a fleeting trend; it’s the golden ticket to sweet, everlasting success.

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