Talino Venture Studios, a global venture studio for sustainable innovation, and Chemonics International, a sustainable development firm, have launched and invested in Philippine fintech startup Higala.

An inclusive instant payment system (IIPS), Higala connects thrift banks, rural banks, and microfinance institutions currently excluded from payment networks because of high switching and on-ramp costs.

Also Read: Talino Venture Studios lands US$5M to bridge financial inclusion in emerging markets

Despite 400 rural banks in the Philippines, only 18 are part of InstaPay because of the lack of interoperability among them. As a result, the full potential of financial inclusion remains largely untapped, depriving many Filipinos of the benefits modern banking technologies can offer.

Higala promotes inclusion by lowering the cost of real-time payments, helping financial institutions price their instant payments reasonably. It also aims to provide inclusive financial solutions to the underbanked and rapidly enable merchants to accept digital payments.

The fintech startup is also building a core instant payment technology that can accommodate financial institutions of all sizes and turn banks into digital banks through white-label app services.

Higala leverages the open payment platform of the nonprofit Mojaloop Foundation. With Mojaloop’s open payment framework, Higala facilitates connectivity among various financial entities, including banks, institutions, payment gateways, merchants, and the central bank. This approach enhances affordability and accessibility in financial transactions.

“Higala will help modernise our country’s digital financial infrastructures and enable the participation of financial institutions through our network. Our goal is to make banking more inclusive, especially to the underserved segments of the population that have limited access to traditional banking services,” Higala President and CEO Vice Catudio said.

Also Read: Philippine startups raised US$956M in 2023 amidst funding winter

“Through Higala’s open payment platform and suite of solutions, we will enable new market players to aggressively develop and market innovative payment services to both consumers and merchants. This includes integrating solutions such as regulatory technologies like e-KYC and AML-TF monitoring, AI-based risk detection and management, banking microledgers, payment hub that will enable instant fund transfer across participating banks, and a global transaction gateway for remittance,” he added.

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The AI4Health Asia Accelerator, a 10-month program dedicated to facilitating the responsible development and scaling of AI innovations in healthcare across South and Southeast Asia, concluded its impactful journey with the AI4Health Asia Impact Showcase.

Hosted by Villgro Philippines in partnership with the International Development Research Center (IDRC) of Canada, the showcase marked the culmination of the accelerator program, spotlighting pioneering solutions of eight emerging healthtech startups across the region.

Over the past year, the AI4Health Asia Accelerator has provided vital support to eight startups addressing pressing health issues intensified by the COVID-19 pandemic. Concentrating on key areas that range from sexual, reproductive, and maternal health, to epidemic and pandemic prevention, preparedness, and response, these startups have received a comprehensive package of mentorship, funding, and resources to propel their innovations forward.

Also read: Discover promising early-stage startups across Southeast Asia with A2D Ventures

Priya Thachadi, Co-founder of Villgro Philippines, remarked, “Business models addressing complex issues like sexual and reproductive health or last-mile delivery of affordable healthcare services are challenging to execute. I believe that the resilience, commitment, and passion of the AI4Health Asia cohort inspire confidence and are deploying solutions that can strengthen the healthcare ecosystem in the region. Tech and innovation, especially leveraging advancements in AI, can accelerate these models and lead the way to systemic change in Asian health systems.” 

The AI4Health Asia Impact Showcase included demo day-style presentations, engaging discussions, and networking opportunities with entrepreneurs, investors, and experts in the health sector in Asia. The event, held on March 22, 2024, at the Radisson Suites Bangkok Sukhumvit in Bangkok, Thailand, featured a line of booths where participating startups showcased their solutions and demonstrated their impact on healthcare in the region. The showcase aimed to enhance visibility for the eight startups, catalyse growth, and facilitate connections for potential collaborations.

8 promising healthcare startups showcase their innovations at AI4Health

At the showcase, Varangtip Satchatippavarn, Founder of Ira Concept, delivered a compelling discourse on femtech within the region, shedding light on the potential for Asian health tech entrepreneurs to lead in this flourishing sector. The event also featured a dynamic panel discussion centred on cultivating a thriving ecosystem for Asian health tech entrepreneurs. The panel featured industry experts including Varangtip Satchatippavarn, Paul Meyers — Founder and Head Coach at Asian Founders Coaching — and Lindsay Davis of Femtech Asia Association.

Also read: Empowering financial resilience with Moomoo Singapore

The AI4Health Asia Impact Showcase marks the beginning of a new chapter for the participating startups as they continue to scale their solutions and create a lasting impact in the healthcare landscape. Villgro Philippines remains committed to supporting innovation and collaboration in healthcare and looks forward to seeing the continued success of the AI4Health Asia accelerator alumni.

Villgro Philippines extends its gratitude towards the following valued ecosystem partners: CSIP, Techsauce, Impact Hub Dhaka, Impact Hub Kathmandu, and ANGIN. Their commitment to fostering innovation and social impact has been integral to the success of the AI4Health Asia Accelerator program and its culmination through the Impact Showcase. 

Please visit the AI4Health Asia Accelerator program page for more information.

About Villgro Philippines

Villgro Philippines is an award-winning gender-smart incubator that funds, mentors, and nurtures innovative startups addressing urgent social and climate issues through market-based models.

Also read: Transforming the creative economy and entertainment industry with TipTip

About the International Development Research Center – Canada

As part of Canada’s foreign affairs and development efforts, the International Development Research Centre (IDRC) champions and funds research and innovation within and alongside developing regions to drive global change. IDRC invests in high-quality research in developing countries, shares knowledge with researchers and policymakers for greater uptake and use, and mobilises global alliances to build a more sustainable and inclusive world.

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This article is produced by the e27 team, sponsored by Villgro Philippines

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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The tech industry is undergoing a paradigm shift driven by the proliferation of powerful APIs. These application programming interfaces are acting as digital bridges, connecting businesses and customers in innovative ways.

The global API Management market is expected to grow steadily from 2023 to 2030. In 2021, it was valued at US$2176.88 million and is projected to reach US$5695.06 million by 2027, growing at a rate of 17.38 per cent annually.

In the upcoming Echelon X conference, attendees will have the opportunity to explore four key conference themes: Agile Business Practices, Sustainability & Responsibility, Collaborative Ecosystems, and Fostering Creativity, with a special focus on the rise of the API economy and its pivotal role in advancing business objectives.

To prepare ourselves for the event, in this listicle, we familiarise ourselves with seven enterprise technology companies, each offering unique solutions designed to empower businesses, streamline processes, and create a more connected world.

Contentsquare

Founded in 2012 by Jonathan Cherki, Contentsquare offers AI-powered customer experience (CX) analytics solutions. Trusted by over 1,000 brands, their technology analyses data from millions of websites globally. This data provides insights into customer behaviour, aiding businesses in understanding user journeys. Contentsquare prioritises user privacy and inclusivity within its solutions. Businesses can leverage this data to optimise website experiences for efficiency and user-friendliness.

The company has experienced significant growth. Their workforce now exceeds 1,800 employees, and they have secured US$1.4 billion in funding. Since 2019, Contentsquare has expanded its offerings through acquisitions, including Hotjar, Clicktale, and Pricing Assistant. This broader suite of tools caters to a wider range of businesses. Today, Contentsquare positions itself as a resource for businesses seeking to understand and improve customer experiences.

Tableau

Tableau, a leading provider of interactive data visualisation software, empowers individuals and organisations to see and understand their data. This core mission remains unchanged even after its acquisition by Salesforce in 2019.

As an 11-time Leader in the Gartner® Magic Quadrant, Tableau offers integrated analytics and business intelligence tools for streamlined data governance and management. Tableau empowers business users with real-time data and automated insights, fostering informed decision-making and stronger customer relationships and supporting the entire self-service analytics process, from data preparation to analysis and sharing. Its AI, built on the Einstein Trust Layer, provides personalised insights within workflows, ensuring data security and productivity.

Also Read: 9 HR transformation companies that are helping companies enter the new era

Devrev

Founded in 2020 by Dheeraj Pandey (former CEO of Nutanix) and Manoj Agarwal (former Nutanix executive), DevRev aims to connect developers (‘Makers’) directly with customers (‘Rev’). Their mission is to foster a culture of “product-thinking” across the entire organisation, shifting customer-centricity from a departmental focus to a company-wide philosophy.

DevRev offers OneCRM, a purpose-built CRM platform specifically designed for the SaaS industry. This platform combines three modern CRM applications – support, product, and growth – onto a single, unified platform. Unlike traditional, horizontal CRMs, DevRev prioritises a ‘blank canvas’ approach, allowing for greater flexibility in collaboration tools, artificial intelligence (AI) integration, and analytics. This focus empowers SaaS companies to accelerate product development and minimise customer churn.

Under the guidance of CEO Dheeraj Pandey and President Manoj Agarwal, the company secured over US$85 million in seed funding and was recognised by Forbes in 2024 as one of America’s best startup employers.

Vonage

Founded in 2001 and acquired by Ericsson in 2022, Vonage is dedicated to revolutionising communications for enterprises globally. With innovation as its core, Vonage has evolved from bringing VoIP to households and small businesses to enhancing communications for enterprises.

Offering unified communications, contact centre solutions, and APIs, Vonage seamlessly integrates them into the world’s most adaptable cloud communications platform. Clients have the flexibility to select from ready-to-use applications, leverage an extensive portfolio of APIs, or combine both for customised solutions.

Serving over 100,000 businesses globally, Vonage empowers enterprises to remain at the forefront in an ever-evolving communication landscape.

Also Read: These 7 tech titans are empowering your business with reliable cloud services

8×8

8×8 offers a comprehensive cloud-based communication and collaboration suite tailored for businesses. Thoughtfully integrating voice, video, chat, contact centre functionalities, and enterprise-grade API solutions into a singular, secure cloud platform, 8×8 empowers workforces on a global scale to facilitate faster collaboration and adopt more strategic work practices.

The platform offers both bundled service options and the flexibility of add-ons, allowing organisations to tailor their communication experience according to their specific needs. Furthermore, real-time analytics provide invaluable insights across all communication channels, empowering businesses to elevate customer satisfaction and propel organisational growth.

Perfios

Perfios, a leading Indian fintech company, empowers the BFSI sector (Banking, Financial Services, and Insurance) with real-time financial data analysis. Its Software-as-a-Service (SaaS) solutions leverage AI and machine learning to equip financial institutions with the tools needed for informed decision-making throughout the customer journey.

Perfios offers a comprehensive suite that streamlines key functions like credit decisions through real-time analysis of financial statements and alternative data sources. It also automates customer onboarding, conducts thorough due diligence and ongoing client monitoring, and even provides solutions for automating tasks associated with loan defaults and litigation processes.

Perfios’ unique ability to analyse both structured and unstructured data provides a more holistic view of borrowers, fostering faster loan processing, risk mitigation, and enhanced customer experiences within the BFSI sector.

Twilio

Twilio’s mission aims to inspire innovation by empowering businesses to create dynamic user experiences. Their cloud communications platform seamlessly integrates voice, video, chat, and SMS functionalities, simplifying infrastructure setup for developers. With user-friendly APIs, Twilio enables developers to focus on innovation, enhancing competitiveness in the digital age.

Beyond communication channels, Twilio offers a Customer Engagement Platform (CEP) that unifies customer data for smarter interactions. This includes a leading Customer Data Platform (CDP) and Communication Platform as a Service (CPaaS) solutions supported by robust interoperability and a partner ecosystem.

With real-time data and a developer-centric platform, Twilio empowers millions of builders to create engaging customer journeys, facilitating over 14 trillion customer interactions globally for leading companies.

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There isn’t one specific priority that tops the list of startup founders. Priorities often vary depending on the maturity of their businesses, with prominent concerns usually being fundraising, market differentiation, partnerships, and customer acquisition.

Understandably, there is a strong emphasis on the growth of a startup’s business, focusing on upward trajectory and opportunity — but what about looking beyond just growth?

There is a temptation for founders to focus solely on the present, but the future is just as important.

It’s inevitable that there’ll be changes in leadership due to either planned departures or unforeseen circumstances. With that being the nature of work, startup founders wouldn’t want to simply sit back and watch their hard work crumble due to a lack foresight, which is why succession planning is crucial to ensure stability of a startup amid change.

What is succession planning and its benefits?

In essence, succession planning involves pinpointing crucial roles within a company and crafting strategies for individuals to step into those roles. By considering both present and future objectives, this approach guarantees that organisations have appropriately skilled personnel in key positions both now and for the future.

Implementing succession planning offers key benefits for startups and their long-term success. First off, it reduces risk and uncertainty. It ensures a pipeline of well-trained and experienced individuals ready to step into key roles, minimising gaps in talent and negative impacts on productivity and performance.

Succession planning also helps boost morale and employee engagement. By defining clear career paths and aligning employee goals with the business plan, succession planning can improve employee morale, engagement, and retention.

Also Read: Beyond unicorns: Building successful startup starts and ends with impact

Furthermore, it is a cost-effective solution for startups as it minimises disruptions, knowledge loss, and the need for expensive external hiring and training.

Why succession planning matters for startups

From my experience in European corporates, they have good continuity programmes that startups can learn from. CEOs and Division Heads earmark high-potential employees one to two levels down the managerial hierarchy and send them for global programmes like the International Institute for Management Development (IMD) and Company Led Training Programmes — setting the stage for future leadership with a strong foundation.

For startups like ours, we typically don’t start out with that kind of organisational hierarchy. Instead, I identify partners and senior management who are 12 years younger than myself, who in turn hire team members who are over 12 years younger than themselves. This creates 20-to-24-year age gaps — a sufficient timeline for a startup to grow, scale globally, and establish at least four to five generations of innovation or complimentary offerings.

With multiple generations within a startup, founders can mobilise regionalisation and globalisation, establish a good culture, and reduce generation gaps. If this can be carried out, the business will establish a culture of continuity whether the founder exits by IPO or buyout, as the business will continue like a well-oiled machine. This ensures that the startup is not simply a one-headed monster with only the founder at the helm. Succession planning and continuity programmes also aid in avoiding mass walkouts, hence reducing the risk of collapse and possible fraud.

Most importantly, succession planning ensures continuity and stability. Having a pool of competent individuals ready to assume critical roles ensures continuity and stability, even during times of transition or unexpected departures.

The three phases of succession planning

Typically, succession planning can be broken down into three phases:

• Assessment
• Evaluation
• Development

During the assessment phase, think of it as an overview. The current leadership team should have a look ahead to the next one to five years, identifying the significant business challenges. With that, the critical positions that will be needed to support business continuity must be identified. Competencies, skills, and corporate knowledge critical to success are then listed out, and the startup’s leadership can then create an employee shortlist for evaluation.

Understandably, a startup’s headcount might be small to begin with — making the assessment phase complicated as employees might not have the potential for such positions. To counter this, startups could have a hiring criterion prior to this assessment in mind, employing only those with potential from the get-go, eliminating the possibility of a lack of internal potential for future leadership.

Next, the evaluation phase of succession planning builds on what was assessed. There should be a selection of competencies employees will need to be successful in positions and to meet the identified business challenges. This, in turn, allows for the categorisation of skill or competency gaps — where high-potential employees will then be considered for future leadership roles.

Developing this pool of talent would be the last phase, where shortlisted employees capture knowledge from the leaders they worked with. This phase addresses any lingering knowledge or skill gaps through formal training, job shadowing, mentoring, and on-the-job experience.

Though the involvement of key stakeholders is encouraged within succession planning, multi-pronged input is not a luxury startups typically have. Instead of relying on a board of directors, external consultants, and HR departments, founders and seniors of startups need to focus on mentoring those within the layers of the hierarchy.

Also Read: The ultimate guide to validating your startup idea

This ensures that the key leaders know what is happening through their startup and understand the feelings and capabilities of employees through the layers. This fosters trust-building and provides an avenue for staff to provide input and feedback without fear of their direct superiors.

From the leadership front, the offer of ongoing support, guidance, and feedback to successors throughout the transition process ensures a better transition. Leaders should monitor their performance and progress and adjust as needed to ensure a smooth handover of responsibilities.

It is important to be cautious of any hidden biases that might arise when it comes to succession planning. Research shows that managers often prefer to hire and promote individuals who resemble themselves. In turn, it is highly advised that succession planning be a team effort within a startup, involving various leaders providing input during the identification, selection, and mentoring phases to avoid biases and ensure the best for the business moving forward.

Smooth, resilient, and successful with proper foresight

Succession planning is an integral part of ensuring the success of a startup to attract investors and customers. Serious investors always look at the people who drive the business, and a smooth flow of operations gives them an element of trust, with the same going for customers.

It not only mitigates the risks associated with unexpected leadership changes but also provides a structured approach to identify, develop, and nurture future leaders within the organisation. Startups should not just think about growth but weigh succession planning as a fundamental aspect of their strategy to safeguard their vision, culture, and operational resilience.

By implementing a well-crafted succession plan, startups can foster a talent pipeline, retain institutional knowledge, and facilitate smooth transitions. This proactive approach facilitates knowledge transfer, aligns employee goals with business objectives, and promotes a culture of continuous learning and development.

Ultimately, a robust succession plan serves as a strategic investment, enabling startups to navigate challenges, seize opportunities, and sustain their competitive edge in an ever-evolving business landscape.

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

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

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We’re less than 2 weeks away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

Digitalisation presents a myriad of challenges, particularly in the context of fragmented business processes. In an effort to transform traditional business practices with relevant tools, business owners are tasked with keeping track and creating a seamless flow for employees and stakeholders alike.

Businesses can streamline their workflows and data management using an integrated suite, which provides a unified platform for essential operations like CRM, accounting, HR, and more. This addresses inefficiencies, reduces costs, and enhances collaboration, allowing companies to focus on core objectives rather than wrestling with disparate systems.

Also read: Regional innovation economies collide at the government pavilions in Echelon X

Instead of juggling multiple disjointed tools, Zoho has created a business-friendly approach to software that democratises access to advanced business functionalities. This empowers organisations of all sizes to compete effectively in today’s dynamic market landscape.

One unified software suite to increase organisational efficiency

With 55+ apps in nearly every major business category including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho Corporation is one of the world’s most prolific software companies. Businesses can manage their operations under one unified cloud software designed to help break down silos between departments.

Although Zoho’s flagship products like Zoho Mail, CRM, Campaigns, Accounting platform, and project management tools enjoy widespread recognition, businesses can leverage their software for advanced functions such as contract life-cycle management, digital signing applications, AR-powered support tools and customised e-commerce website development. Moreover, their solutions are seamlessly accessible via mobile apps and other workspace integrations, facilitating smooth global connectivity with employees.

Also read: JDI hosts Vietnam Pavilion: Spotlighting innovation at Echelon X

Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. More than 100 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself.  Their privacy-first approach, long-term thinking, deep engineering focus, and customer-centric philosophy are just a few things that set them apart.

Zoho is privately held and profitable, with more than 15,000 employees and offices in Singapore, the United States, India, Japan, China, Mexico, Australia, the Netherlands, and the United Arab Emirates.

Community outreach is its heart

Zoho prides itself on crafting software like its art. It utilises and prioritises its R&D, keeping in mind the needs of the businesses it aims to service. Its core strategy for brand awareness is focused on community outreach amongst the business community.

Khoo Chia Ching, Zoho’s Regional Marketing Manager, will be part of the panel “Tech Adoption of SMEs in SEA and the Way Forward”. Khoo will be sharing insights on the present landscape of technology adoption among small and medium enterprises (SMEs) in Southeast Asia. For this discussion, the stellar panel will feature challenges and opportunities faced by SMEs in adopting new technologies, such as digitalisation, automation, and e-commerce, to enhance their business operations and competitiveness.

Also read: AI4Health Asia Accelerator showcases innovative solutions in healthcare at the culmination event

After the panel, there will be more opportunities to connect with Zoho, as they will also be exhibitors during the conference proper. Interested businesses, big or small, are welcome to ask questions and inquire more about how Zoho can help their business scale.

Get to know Zoho at Echelon X!

Zoho is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining them are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

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Climate technology proliferates, focusing on carbon capture and storage (CCS), including Direct Air Capture (DAC). Despite initial concerns about cost-benefit ratios, significant investments from influential entities like Breakthrough Energy Ventures, led by Bill Gates, are driving progress in this area. The commitment to this technology demonstrates a strong belief in its potential, bolstered by increasing capital flow toward its development.

Global leadership in climate initiatives

Several countries, including Germany, Japan, and Singapore, are leading the way in adopting and advancing climate technologies. Germany’s community-driven environmental consciousness, Japan’s strategic climate leadership, and Singapore’s development of carbon credit trading systems exemplify diverse approaches to climate action. South Korea’s commitment to developing carbon-neutral technologies and substantial financial investment indicates a robust national strategy for achieving a sustainable future.

Reinventing regulation through carbon credits

Carbon credits are pivotal in the regulatory environment, incentivising companies to reduce greenhouse gas (GHG) emissions. A dual system of voluntary credits for companies taking proactive measures and compulsory tradable credits within national frameworks creates a comprehensive approach to managing corporate carbon footprints. This system encourages reduced GHG emissions and integrates climate goals into corporate strategies, enhancing transparency and accountability.

Also Read: The future of finance: ESG integration in tokenised funding

The rise of climate finance

Climate finance is crucial for facilitating large-scale environmental projects. By leveraging mechanisms like project financing (PF), this climate capital can support projects to reduce GHG emissions. Integrating modern technologies such as blockchain and NFTs with carbon credits could revolutionise the reliability and transparency of carbon credit trading, potentially leading to its integration into mainstream financial markets.

The promising horizon for climate technology investments

The future of climate technology investment looks promising, with increasing interest from global tech giants and investors. As awareness of climate technology’s financial and environmental benefits grows, we expect to see a surge in investments. Investment in climate tech will likely be driven by the dual forces of technological innovation and regulatory incentives, guiding more companies to engage in sustainable practices.

In conclusion, while challenges remain, the trajectory for climate technology and related financial mechanisms is positive. Ongoing development in these areas addresses environmental concerns. It opens up new economic opportunities, creating a virtuous cycle of investment and innovation.

Acknowledgement: Special thanks to Ms. Calli Seunghee Moon, a new business development expert in DX (Digital Transformation) and Climate Tech at SK Inc., and the author of ‘The Era of Climate Tech’ for her invaluable contributions to this article.

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

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

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We’re less than 2 weeks away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

The government plays a crucial role in facilitating and crafting innovation ecosystems. Well-crafted programmes and incentives can create conducive environments through policies, funding, and infrastructure development. Examples include investment in education, research, entrepreneurship programs, regulatory frameworks, and fostering collaboration between academia, industry, and startups.

The result is to facilitate the economy’s growth and attract a hyper-realised network of investors and business support from other nearby ecosystems. As such, participation in regional events and conferences helps boost and accelerate the intended results in less time, evidenced by SDEC’s participation at Echelon X.

A dynamic hub facilitated by active government intervention

A blueprint of active government support, Sarawak Digital Economy Corporation Berhad (SDEC) was incorporated in January 2018 and operationalised in July 2020 as a company wholly owned by the Sarawak Government under the purview of the Ministry of Finance and New Economy.

SDEC is entrusted to lead the implementation of Sarawak’s digital economy initiatives, focusing on the private sector economy. They aim to catalyse an inclusive innovation ecosystem benefitting innovators, start-ups, and digital entrepreneurs. This includes rolling out economic sectors’ commercial projects in partnership with multinational corporations, small and medium enterprises, and the rest of the private sector.

Also read: JDI hosts Vietnam Pavilion: Spotlighting innovation at Echelon X

Further supporting the ecosystem’s growth, SDEC also aims to implement, operate, and maintain Sarawak’s digital infrastructures, engage in research, and accelerate innovation and IPs into the private commercialisation and public sectors.

Some sample programs by Sarawak establish their efforts into realised, vital, and strong digital players. Under digital infrastructure, they are implementing SMART towers and rural broadband networks to strengthen internet access. Technology services and digitalisation consultancy services are also available for the private sector and relevant agencies, and programs centred around innovation and entrepreneurship include accelerator programs, digital malls, digital innovation hubs and other founder-centred programmes.

Universities and labs are also available for research and product development. SDEC also provides the Digital Economy Testbed and Digital Skills & Workforce Transformation offering to help hone technological advancement efforts. Innovators can explore opportunities to interface, strengthen industry linkages, and roll out their R&D results to the public.

Other Digital Economy Projects include:

• Rabies App
• MyHappy Pet
• SD Engage
• Quantum Vision
• IoT Smart Farming
• IoT Technology & Facilities for Inland Fisheries
• Sarawak Unmanned Aerial System (UAS) Services & Management

As reported by The Edge Singapore in 2024, the Sarawak government is also actively investing in innovation and growing its start-up ecosystem. Thanks to the aid of 22 government and business-funded innovation hubs and a Digital Village, 26 start-ups and 27 high-tech research projects are currently undergoing acceleration towards commercialisation.

Also read: AI4Health Asia Accelerator showcases innovative solutions in healthcare at the culmination event

The Sarawak Digital Economy Blueprint 2030 further outlines its rationale and roadmap to achieving stronger linkages and more success stories. Launched in October 2023, it details how the state will achieve inclusive, responsible, and sustainable socio-economic development.

Explore, grow and develop with the Sarawak Ecosystem

The nurturing of startup ecosystems is at the forefront of the government’s initiatives to forge partnerships, bridge gaps, and enable stakeholders to ensure a competitive, innovative, and inclusive regional landscape. As such, SDEC is looking at programs and initiatives such as hackathons, boot camps, pre-accelerators, and accelerators to partner with at the regional level. SDEC is currently looking at initiatives within Malaysia, Brunei, Indonesia, the Philippines, and Singapore.

They are looking forward to participating in the Government Pavilion, where SDEC will showcase our startups, partners, and initiatives and build relationships with other government agencies, partners, investors, ecosystem players, and participants through networking opportunities.

Their presence at Echelon X marks the beginning of their renewed involvement in the regional ecosystem. SDEC is looking forward to further strengthening its partnership with e27 and other participating agencies and building a more robust ecosystem in Sarawak through other partners’ advice and experiences. 

To provide more context to curious Echelon X participants, Khairool Adzelan Aman, SDEC’s Manager for Ecosystem Development and Digital Innovation, will be part of a panel titled “Driving Impactful Innovations in the New Economy in Malaysia.” The panel aims to shed some light on what’s happening in Malaysia lately. For this segment, our moderated panel will jump into the country’s growing economic landscape and potential for driving impactful innovations in Southeast Asia. The session will discuss Malaysia’s efforts to embrace digital transformation, foster innovation, and build a sustainable economy in the post-pandemic era.

Also read: Discover promising early-stage startups across Southeast Asia with A2D Ventures

Sarawak Digital Economy Corporation is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining them are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

The post Regional innovation economies collide at the government pavilions in Echelon X appeared first on e27.

Prep, a Vietnam-based language learning and test preparation platform, has raised US$7 million in Series A funding, co-led by Cercano Management Asia (formerly known as Vulcan Capital) and Northstar Ventures.

Touchstone Partners, East Ventures, and Saison Capital also participated.

The capital will allow Prep to expand its team, refine its learning tools, and expand into other language products and new markets.

Also Read: Edutech war: How NativeX is taking on the likes of ELSA, Duolingo in Vietnam

Founded in 2020 by CEO Tu Pham and CTO Nam Tran, Prep is an online language learning and test preparation platform that helps learners of all ages reach their full potential. Its current offerings include personalised study plans, interactive learning content, and AI-powered test and role-playing rooms.

In 2022, the edutech startup released its AI-powered virtual speaking room, which it claims helped multiply revenue by 3x in three months. Together with its AI-powered virtual writing room, this feature enables the company to deliver “high-quality” education at a fraction of the average cost learners would pay.

“The ultimate vision of Prep is to enable every learner to feel as if they have a dedicated personal teacher and mentor to help them achieve their learning targets. This new investment is an important milestone for us in realising this vision,” said Tu Pham.

Also Read: Startup investments in Vietnam see 39% drop in Q1

“Quality education made more accessible through technology has been a segment of emphasis for us. Prep’s application of technology to drive positive outcomes for language learning and standardised test preparation has been one of the best we have seen from the region,” said MJ Yu, Managing Director of Cercano Management Asia.

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

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

The post Vietnam’s language learning, test preparation platform Prep raises US$7M in Series A appeared first on e27.

Dear reader,

Changpeng Zhao, the once-celebrated figurehead of Binance and a prominent name in the cryptocurrency realm, now faces a four-month prison sentence after admitting to violating US money laundering laws.

This development not only marks a significant chapter in the ongoing narrative of regulatory scrutiny surrounding crypto exchanges but also underscores the repercussions for those who disregard legal frameworks.

Despite being spared the harsher three-year term sought by prosecutors, Zhao’s sentencing serves as a stark reminder of the accountability demanded of industry leaders. Judge Richard Jones, in delivering the verdict, emphasised Zhao’s failure to prioritize regulatory compliance over Binance’s expansion, highlighting a pervasive issue within the sector.

The sentencing also sheds light on the broader challenges facing the cryptocurrency industry, as it grapples with regulatory scrutiny and strives to establish trust among investors.

As Zhao faces the consequences of his actions and Binance navigates a path toward redemption, the industry braces for heightened regulatory scrutiny.

Zhao’s case serves as a cautionary tale, emphasizing the necessity of stringent compliance measures in an evolving financial landscape.

Sainul,
Editor.

——-

NEWS

Binance crypto founder Zhao sentenced to four months in prison
Prosecutors said Binance employed a “Wild West” model that welcomed criminals, and did not report more than 100,000 suspicious transactions with designated terrorist groups including Hamas, al-Qaeda and Islamic State.

GoTo narrows adjusted losses by 89%, boosts gross revenue by 18% in Q1
The company remains on track to meet its target “to maintain adjusted EBITDA profitability for the full year of 2024,” according to CFO Jacky Lo.

Microsoft to empower 2.5M Southeast Asians with AI skills by 2025
Microsoft aims to build an inclusive, AI-ready workforce; bridge the cybersecurity talent gap; enhance developers’ AI skills; and empower nonprofits to maximise their social impact.

Betagro launches US$30M foodtech, agritech VC arm
Betagro Ventures will focus on projects that tackle consumer access to safe and high-quality foods, support green protein sources, and create green agrifood supply chains.

Microsoft to invest US$1.7B for AI, cloud infrastructure in Indonesia
The company will also facilitate AI skills training for 840K Indonesians; AI is estimated to contribute nearly US$1T to SEA’s GDP by 2030, with Indonesia poised to capture US$366B of that figure.

Microsoft to invest US$2.2B for Malaysia’s AI infrastructure
Similar to its Indonesia pledge, this would mark Microsoft’s largest single investment in Malaysia; Part of its strategy is to offer AI education to 200,000 Malaysians, with the southern region of Johor expected to become an AI hub.

SGX-listed 17Live posts 26% rise in 2023 adjusted earnings, revenue falls
Revenue for the period fell 23% to US$279M; The 37% uptick in operating income was attributed to effective cost discipline and heightened focus on returns on investment.

Indonesia’s Vidio aims to double subscribers to 8M ahead of IPO
Despite higher paid subscriptions, Vidio comes in second to Netflix on metrics like premium viewership and monetisation, per data from consulting and research firm Media Partners Asia.

Razer ordered to refund US$1.1M for misleading mask marketing
The US Federal Trade Commission accused Razer of marketing its masks as N95-grade without undergoing the necessary testing and certifications from the country’s authorities.

Ninja Van lays off about 10% of regional tech team
‘Following a recent cost evaluation, it was determined that less than 10% of the region’s tech team is no longer required’, a Ninja Van spokesperson confirmed to Tech in Asia.

eFishery CFO Dhianendra Laksmana steps down
The Indonesian aquaculture unicorn said he resigned due to personal reasons and preferences; During his time at eFishery, Laksmana spearheaded initiatives that expanded the company’s financial reach and operational capabilities.

Talino Venture Studios launches, invests in inclusive instant payment system Higala
An inclusive instant payment system, Higala connects thrift banks, rural banks, and microfinance institutions currently excluded from payment networks because of high switching and on-ramp costs.

Openspace leads Series funding round of HK-based Fano Labs
HSBC and Greater Good Investment are the other backers; Fano offers “language AI technologies” including an AI transcriber, chatbot, and voicebot that can handle conversations in multiple languages or even involve specific dialects.

Ex-AWS exec launches startup to power enterprise systems with AI
Bernard Leong’s startup Dorje AI aims to build a financial enterprise resource planning system powered by AI; Dorje AI is in the product testing phase but is accepting waitlist signups on its website.

DailySocial.id pivots to AI-powered research, consultancy with DiscoveryShift
Indonesia-based DailySocial.id laid off all of its staff as part of a major restructuring; DiscoveryShift said in a statement that its offerings range from strategy development to operational implementation.

Twitch launches TikTok-like short-video feature
Unlike traditional Twitch livestreams, which focus on long gaming or vlogging sessions, Discovery Feed shows users brief highlights from these lengthy videos; This comes just days after the US passed a bill that would ban the Chinese short-video app unless sold.

FEATURES

‘Future of fintech innovation will be a constant dance between progress and security’
AI enables real-time analysis and automated responses to potential fraud and it has the ability to adapt and learn from new fraud patterns continuously.

Here are the five innovative startups we met at Hong Kong Science and Technology Park
Since its launch in 2001, HKSTP has groomed 12 unicorns, over 14,000 research professionals, and over 1,700 startups from 27 countries.

Vatic AI to focus on financial services clientele following appointment of new President & CEO Dilip Krishnan
Vatic AI aims to leverage its Qscore product, which utilises AI to predict the credit qualifications of anonymous online audiences.

These 7 tech titans are empowering your business with reliable cloud services
The popularity of cloud services stems from various factors, including cost-effectiveness, flexibility, and scalability.

FROM OUR CONTRIBUTORS

Can a small business owner be sustainable in a sustainable manner?
As a business owner, I’m always seeking ways to make my business practices more sustainable while maintaining cost-effectiveness.

Bridging the skills gap: Tailored L&D programs for cultivating top tech talent in Asia
Modern neuroscience offers fascinating insights that can drastically improve how we approach Learning and Development (L&d) in tech.

Unlocking agritech’s potential: Can Southeast Asia rise to the challenge?
In an era where agriculture both drives and bears the brunt of climate change, digital technologies offer a path to empowerment.

Beyond growth: Why succession planning matters for startups
Implementing a robust succession plan helps startups maintain a talent pipeline, retain institutional knowledge, and ensure seamless transitions.

How these firms streamline businesses and power innovation in API economy
Discover how these 7 API companies are reshaping industries, streamlining business operations, and driving innovation in the digital economy.

Charting the roadmap for the era of pervasive AI
Leaders need to grasp the current AI landscape, its key technologies, opportunities, and how organisations can advance AI technology.

How sustainability reporting and supply chains can drive ASEAN’s competitiveness
Sustainability equals profitability in the long run, urging ASEAN to prioritise green manufacturing for global competitiveness.

The death of distance: How innovation is resolving cross-border payment hurdles
The advent of fintech has ushered in a paradigm shift in cross-border payments, rendering the concept of distance obsolete.

FROM THE ARCHIVES

FlyORO soars into green skies with its sustainable aviation fuel blending solutions
Insights into FlyORO’s technology roadmap reveal a focus on modular SAF blending services, aiming for greater efficiency and substantial carbon emission reductions.

The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

Wildfire Energy aims to eliminate landfills by turning residual wastes into renewable energy, hydrogen
Wildfire Energy has developed modular plants which can be easily deployed and used to convert biomass and waste into renewable energy products at low cost.

Startup funding rounds: A handbook from seed to exit
Funding rounds mark important milestones for a private business as it often comes up with a new valuation of the firm in the market.

Kampd intends to reshape professional networking with a unique approach
The startup’s mission is to provide purposeful content, solve the challenge of fragmented business content, and differentiate from platforms like LinkedIn.

How AI breaks ground in bridging the mental health care divide
We’re at the precipice of what could be a seismic shift in how we understand and address mental health.

Hacking your way into angel impact investing with just US$10K
As the Head of Special Projects at Top Tier Impact, I will give you these much-needed tips on how to start angel impact investing.

Crowdfunding for startups: Where to begin and how to go about it
Crowdfunding changes the game by reducing dependence on conventional and sometimes exclusive means of financing.

As Glints CTO, this is what I want you to know about building an engineering team in Southeast Asia
There are two lessons that I learned the hard way when building Glints engineering team in this region.

NFTs for fundraising: What you need to know before jumping on the bandwagon
When it comes to using NFTs for fundraising, there are success stories, but there are also lessons for the rest of us.

Embracing AI’s promise: Navigating the future of marketing
In an era where AI is reshaping the marketing industry, we explore how marketers, particularly in Singapore, can unlock AI’s potential.

Embracing global entrepreneurship: Redefining startup success beyond Silicon Valley
Throughout our quest to support founders, we have found that a collaborative and strategic approach is always required when building startup communities.

ECHELON

JDI hosts Vietnam Pavilion: Spotlighting innovation at Echelon X
JDI unveils Vietnam’s tech pioneers at Echelon X, showcasing the vibrant tech startup ecosystem and their role as venture catalysts.

Discover promising early-stage startups across Southeast Asia with A2D Ventures
Startups need all the support they can for fundraising, and A2D Ventures offers access to world-class investors in one platform.

Empowering financial resilience with Moomoo Singapore
Learn how Moomoo created a super app that can capture global financial markets in your pocket and invest the smarter way.

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

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

The post Ecosystem Roundup: Binance founder faces the music | Microsoft to invest US$2.2B for Malaysia’s AI infra | Betagro launches US$30M VC fund appeared first on e27.

This week witnessed a surge in venture capital investments in Southeast Asian tech startups, reflecting the region’s growing prominence in the global tech landscape. Notable companies include Thrixen, Higala, and Fano Labs.

Below are the brief profiles of the investors/companies that invested in regional startups this week.

22Health Ventures

It is an early-stage healthtech investment firm deeply embedded in Singapore, providing accelerated access to the US. It invests in entrepreneurs and technologies changing the future of health across three themes: empowering health decisions, enabling emerging treatments, and supporting healthy ageing.

This week, 22Health invested in Thrixen, a Singapore-based company that is developing a diagnostics platform for infectious diseases.

Talino Venture Studios

Talino Venture Studios is a global venture studio for inclusive fintech. Born in the intersection of Silicon Valley and Southeast Asia, Talino aims to bridge financial inclusion for over 1.7 billion people around the world. It uses the venture studio model to build repeatable, scalable, and profitable fintechs that empower underserved, underrepresented groups around the world with financial access and mobility.

This week, Talino launched and invested in the inclusive instant payment system Higala.

Cercano Management Asia

Founded in 2022, Cercano Management is a private investment fund based in the US. The firm primarily invests in healthcare, software, media, data intelligence, mobile networks, semiconductors, alternative energy sectors, infrastructure, energy and natural resources, education, consumer, financial services, telecom and communications sectors, information services, and life sciences.

Northstar Ventures

It works with mission-based founders targeting high-growth markets in healthy ageing, the future of work and learning, the future of place, and climate tech.

Touchstone Partners

Founded in 2020, Touchstone Partners is a venture capital firm headquartered in Ho Chi Minh, Vietnam. It seeks to invest in early-stage companies operating in the fintech, health technology, educational technology, supply chain and deep-technology sectors.

East Ventures

East Ventures is a sector-agnostic venture capital firm. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, from seed to growth-stage investments, for over 300 tech companies across Southeast Asia. It also has business operations in Japan.

Saison Capital

It is the Japanese firm Credit Saison’s VC arm. Saison Capital invests in pre-seed to Series B companies globally, with a focus on Southeast Asia and India. Its portfolio covers all verticals, including but not limited to fintech, e-commerce and Web3.

This week, Cercano, Northstar, Touchstone, East Ventures, and Saison Capital invested in Vietnamese edutech firm Prep.

Openspace Ventures

Openspace provides venture capital funding to back companies in Southeast Asia. By focusing on the fundamentals and with a wide-scale operations team, it actively partners with its 45+ portfolio companies to help build viable and responsible B2B and B2C businesses. It is co-headquartered in Singapore and Jakarta, with active offices in Bangkok, Manila, and Ho Chi Minh City.

This week, it invested in Fano Labs.

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

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

The post VC surge: Southeast Asian startups secure substantial investments appeared first on e27.