“Singapore’s market is too small; shouldn’t we just use it as a regional hub?”

“Indonesia accounts for 40 per cent of Southeast Asia’s population and one-third of its GDP, so we should focus there.”

When approaching Southeast Asian markets, many companies use population size as their primary criterion. Indonesia with 280 million people, and the Philippines and Vietnam with over 100 million each, are undeniably attractive from a demographic perspective. In contrast, Singapore, with its domestic market of just under six million people, has received relatively less attention.

However, recent performance data from Southeast Asian unicorns (private companies valued at over US$1 billion) and success stories of Korean companies in Singapore are challenging the preconception of Singapore as merely a regional hub. Kevin Aluwi, Co-Founder of Indonesian unicorn Gojek, recently emphasised in an interview that “B2C startups must first prove themselves in Singapore.”

Indeed, Singapore’s GDP of US$462 billion significantly exceeds that of the Greater Jakarta (US$276 billion) and Bangkok (US$236 billion) regions. Even more noteworthy is its purchasing power. Singapore’s top one per cent earn an average monthly income of US$61,000, incomparable to Indonesia’s US$5,700.

Remarkably, 90 per cent of Singaporean households are “power users” – highly receptive to innovative products and services and willing to pay premiums for quality and convenience.

These market characteristics are well illustrated by recent successes of Korean B2C companies in Singapore. Athleisure brand ‘Andar’ expanded to a second outlet this year following strong consumer response after its initial entry last year. Food-tech startup ‘Gopizza’, which entered Singapore in 2020, has grown to become the third-largest pizza chain locally with over 20 outlets, using this success as a springboard to expand into Bangkok and Jakarta.

Korean beauty e-commerce platform ‘cocomo’ is extending its online success to physical stores, while various Korean F&B establishments are gaining tremendous popularity among Singaporeans amid the K-food wave.

These cases demonstrate the need for Korean companies to maintain a balanced perspective on both B2B and B2C markets when entering Singapore. While historically, companies often focused on B2B products to establish regional headquarters or target government procurement markets, recent years have seen increasing B2C success stories driven by the Korean Wave.

Also Read: Digital transformation and AI revolution: Shaping Singapore’s F&B industry with Korean restaurant tech

Particularly, lifestyle products align well with Singapore’s high living standards, creating a stable premium market.

Southeast Asian consumers are generally price-sensitive, necessitating dual strategies: tailoring approaches to regional income levels while maintaining separate premium and mass-market strategies. Deep analysis of middle-class characteristics is crucial, considering not just income levels but also education, digital literacy, and consumption patterns.

Singapore’s middle class, for instance, tends to quickly adopt innovative products and services, backed by high education levels and technological affinity.

Southeast Asian mobility platform Grab generated 23 per cent of its total 2023 revenue from Singapore – nearly matching Indonesia’s 29 per cent, despite the latter’s population being 40 times larger. This underscores Singapore’s strategic importance. As suggested in a previous column, success in Singapore can serve as a powerful foundation for expansion into other major Southeast Asian cities through the “point-line-plane expansion strategy.”

Companies eyeing Southeast Asian markets must move beyond the simple equation of “population equals market size.” When comprehensively considering purchasing power, consumption patterns, and market maturity, Singapore – though small – with its powerful purchasing power is establishing itself not just as Southeast Asia’s Silicon Valley but as a touchstone for foreign B2C companies’ success in Southeast Asian expansion.

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* This article was originally sourced from this.

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The startup ecosystem thrives on the allure of hustle culture. Founders boast of sleepless nights, marathon coding sessions, and 16-hour workdays as badges of honour. But behind these stories of relentless hustle lie less glamorous truths: burnout, strained relationships, and declining mental health.

Work-life balance often feels like a distant dream for founders and startup teams. Yet, it’s not an impossible goal. The key lies in redefining balance—not as a perfect equilibrium but as a dynamic approach to prioritising what matters. This article explores the realities of work-life balance in the startup world and how founders can achieve it without sacrificing their ambitions.

The current reality: Why balance feels out of reach

A 2023 survey by Startup Genome revealed that 74 per cent of startup founders experience burnout, and nearly half feel their personal relationships have suffered due to work pressures. Why is this so common in startups?

• The myth of hustle culture: Hustle culture glorifies overwork, equating long hours with dedication and success. Founders often feel that if they’re not constantly grinding, they’re falling behind.
• Startups demand everything: Early-stage startups require founders to wear multiple hats—CEO, marketer, recruiter, and customer service agent—all at once. With limited resources, stepping away from work can feel like abandoning the ship.
• Investor pressure: Founders often fear that setting boundaries will make them appear less committed, especially when trying to secure funding.

The result? A culture where overwork is normalised, and balance is deprioritised.

What balance really means

Work-life balance doesn’t mean dividing your time equally between work and personal life—it’s about aligning your priorities with your values. For founders, this often requires rethinking what success looks like.

Case Study: An edutech founder in India struggled with burnout while juggling product development and fundraising. Realising she was neglecting her family, she began reserving her mornings for “deep work” and evenings for family time. The result? Improved focus during work hours and stronger relationships at home.

Balance is less about time management and more about energy management. The question isn’t “How much time do I have?” but “What deserves my energy?” 

Lessons from founders who’ve found balance

• Set non-negotiables: Successful founders prioritise what matters most, whether it’s exercise, family time, or hobbies. These “non-negotiables” act as anchors, preventing work from consuming everything. Example: A fintech CEO in Singapore blocks out Friday evenings for dinner with friends. No exceptions. This ritual helps him reset after a demanding week.

• Learn to delegate: Many founders fall into the trap of believing they must do everything themselves. Delegation is not a weakness—it’s a leadership skill. Actionable tip: Identify tasks only you can do (e.g., investor meetings) and delegate the rest (e.g., social media management). Tools like Trello and Slack can streamline team collaboration.

• Redefine success: Founders often equate success with growth metrics—revenue, users, or funding. But true success is building a business that doesn’t compromise your health or relationships.

Also Read: How Gen Z’s view on work-life balance can transform your business

Building a culture of balance

Work-life balance isn’t just a personal challenge—it’s a cultural one. Startups often reflect the habits and values of their founders. Creating a culture of balance can benefit the entire team, leading to higher morale, better retention, and greater productivity.

Strategies for startups

• Flexible work policies: Offering remote work or flexible hours empowers employees to manage their responsibilities effectively. Example: A startup in the Philippines implemented a hybrid work model, allowing team members to choose their in-office days. The result was a 20 per cent increase in employee satisfaction.
• Encourage time off: Startups often glorify working through vacations or weekends, but encouraging employees to take breaks prevents burnout.
• Lead by example: Founders who respect boundaries—by avoiding late-night emails or taking their own vacations—set a tone of balance for the team.

 The challenges of pursuing balance

Achieving work-life balance as a founder comes with its own set of obstacles:

• Investor expectations: Founders often fear that setting boundaries will be perceived as a lack of commitment. Communicating openly with investors about the value of well-being can help shift this narrative.
• Time guilt: Many founders feel guilty taking time off, believing every moment away from work slows progress. Reframing breaks as productivity boosters is essential.
• Team dependence: In early-stage startups, teams often rely heavily on the founder’s involvement. Building processes and empowering team members to make decisions can reduce this dependency.

Actionable steps for founders

• Time-block your schedule: Allocate specific hours for work, personal activities, and rest. Treat these blocks as non-negotiable appointments.
• Embrace digital detox: Step away from screens during non-work hours to recharge. Use apps like Forest to enforce focus and downtime.
• Communicate boundaries: Be transparent with your team about your work hours and encourage them to do the same.
• Automate repetitive tasks: Tools like Zapier or Notion can automate workflows, saving time and mental energy.

Also Read: Without trust, there is no progress: the insight that defined my work life

The future of work-life balance in startups

As remote work becomes the norm, startups have an unprecedented opportunity to redefine work-life balance. Flexible schedules, asynchronous communication, and global talent pools make it possible to prioritise well-being without sacrificing productivity.

However, balance isn’t a one-size-fits-all solution. It’s a dynamic process that evolves with personal and business priorities. Founders who view balance as a strategic advantage—not a distraction—will build more sustainable businesses.

A new definition of balance

Work-life balance in the startup world isn’t a myth—it’s a deliberate choice. Founders who set boundaries, delegate tasks, and align their work with their values can achieve balance without compromising their ambitions.

The startup grind doesn’t have to come at the expense of your health or relationships. By embracing balance as part of the journey, you’re not only building a business—you’re building a life worth living.

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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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Australian fintech firm Eden Exchange has acquired Dealcierge, creating a new AUD50 million (US$31 million) Singapore-based platform named edenX.

This strategic move aims to establish one of the largest merger and acquisition (M&A) marketplaces and private deal networks in the Asia Pacific region. The edenX platform is designed to be a comprehensive, high-service marketplace catering to small and mid-sized M&A and capital raising.

Also Read: Beyond the union: Understanding the complexities and impacts of M&As

The combined entity brings together Eden Exchange and Dealcierge’s networks, technology, intellectual property (IP), and teams. This collaboration is intended to create an expanded digital and collaborative ecosystem to drive market growth across Asia, Australia, and New Zealand, with a long-term aim for global expansion.

edenX specifically focuses on the underserved sub-US$100 million SME M&A and capital markets sector. It aims to enhance access for business buyers and sellers, providing greater deal flow and access to private capital across borders.

The platform seeks to level the playing field by providing more equitable opportunities for clients and partners, modernising what is described as a fragmented industry, where over 97 per cent of businesses in APAC are SMEs. Technology-driven dealmaking is expected to improve deal velocity by increasing leads and reducing friction in the transactions ecosystem.

The platform will offer “unique” services for businesses, investors, and advisors, leveraging an extensive international network of over 120,000 vetted business buyers, sellers, and advisors. It also promises to increase deal success using AI technologies for seamless and powerful dealmaking services.

Dealcierge, an independent M&A platform incubated by SC Ventures, brings extensive Asian networks and a Capital Markets Services Licence from the Monetary Authority of Singapore (MAS). SC Ventures will retain a shareholding in the combined venture. Eden Exchange contributes its established Australian and New Zealand networks and experience of over 5,000 transactions via its DealXchange platform.

Dhanush Ganglani, CEO of Pegasus Dealmaking and co-founder of Eden Exchange, stated that edenX is the “next step in our mission to arm the long-underserved small to mid-sized M&A market”.

Also Read: What businesses should take note of before taking the M&A leap

Alex Manson, CEO of SC Ventures, aded he looks forward to being a supportive shareholder as the two companies combine to support the critical SME ecosystem.

Raghu Rajakumar, CEO and co-founder of Eden Exchange, noted that the marketplace will help facilitate the transfer of A$6.5 trillion (US$4.03 trillion) of assets and wealth from Baby Boomers to a new generation.

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The story of Kapas Living is one of entrepreneurial spirit, family collaboration, and a commitment to quality, all born from the crucible of a global pandemic.

What began as a desire to provide honest, high-quality bed linens has blossomed into a thriving “seven-figure” business, capturing customers’ hearts (and beds) in Malaysia and Singapore.

Before Kapas Living, the brother-and-sister duo of Zer Ken Yap and Vin Li Yap ran a property management startup, Plush Services. The business was going well, operating Airbnb properties in Malaysia, until the pandemic brought everything to a halt. With 30 employees relying on them, they knew they had to adapt quickly.

Also Read: Work-life balance in the startup world: Myth or achievable goal?

“This necessity sparked the idea for Kapas Living,” says Vin Li. “Kapas Living combines our hospitality experience and love for interior design to create a line of quality, affordable bed linens.”

The genesis of an idea

The idea for Kapas Living wasn’t entirely new. Even before the pandemic, the Yao siblings felt frustrated with the bedding market. “We noticed that department stores often used flashy marketing tactics, promoting misleading thread counts and offering significant discounts on products that didn’t live up to the hype,” she adds.

She recalled purchasing a set of hotel-quality bedsheets with a thousand thread count that started to pill after only a couple of washes. This experience solidified her desire to cut through the marketing fluff and offer reasonably priced, high-quality sheets.

Launching in October 2020, Kapas Living aimed to provide the comfort of luxury bedding within the confines of one’s own home at a time when travel and going out were restricted. This proved to be a fortunate decision, enabling them to survive the pandemic and build a new business.

Kapas Living doesn’t follow the typical industry hype. While many brands focus on thread count, Kapas Living shifted the focus to cotton quality and weave. “Our philosophy is simple: provide honest, great sheets without exaggerated claims or fluffy marketing,” she says. The founders insist on using extra-long staple cotton and finding the ideal weave.

All products are OEKO-TEX certified, meaning they are free from harmful substances. The down pillows and duvets are Responsible Down Standard (RDS) certified, ensuring ethical sourcing.

Moreover, Kapas Living’s foam products are CertiPUR-US certified, meeting stringent content, emissions, and durability standards.

Building trust through transparency

According to Vin, breaking into a market dominated by larger companies was no small feat for the new brand. To ensure genuine market reception, the duo initially didn’t promote Kapas Living to friends and family.

“Fortunately, the positive reviews we received validated our passion for genuine quality, with an average rating of 4.9 stars on our website and on e-commerce platforms like Shopee and Lazada. By staying true to our values of quality, transparency and sustainability, we managed to carve a space for ourselves in the competitive bedding market,” Vin claims.

Kapas Living’s key target audience is people just like them—individuals who appreciate quality bedding at fair prices. They were frustrated with the high prices in department stores, which often don’t guarantee quality.

While post-COVID-19 inflation impacted the margins, the company worked tirelessly to renegotiate with suppliers, improve packaging, and optimise warehousing processes to maintain quality without burdening the customers with excessive costs. It also collaborates with hotels and retail brands and can quickly produce customised goods at competitive wholesale prices.

Growth strategies and e-commerce

Becoming a 7-figure business involved a lot of hard work and a willingness to pivot when needed. The siblings are always exploring new product ideas; if something doesn’t work, they quickly try a new approach.

Currently, the founders claim Kapas receives around 2,500 orders a month. Its expansion from Malaysia to Singapore has boosted growth, with the Singapore business turning a profit within a short period.

The founders started by building their first online store themselves using WooCommerce. While this took more time, it helped them gain a deep understanding of e-commerce platforms.

They later migrated to Shopify for a more robust and stable platform. “Running our own website gave us more control over brand image, pricing, and promotions, but we also had to invest heavily in marketing,” she shares.

Kapas Living also began selling on platforms like Shopee, Lazada, and TikTok to broaden its reach. After a period of experimentation with promotions and campaigns, its sales grew and product rankings rose. Today Kapas Living is among the top 10 bedding brands on Shopee.

Looking ahead

Kapas Living’s expansion doesn’t stop there. Responding to numerous customer requests, it plans to explore offline retail in 2025. The firm has also extended its product line to include premium bath towels, duvets, blankets, and pillows, all made with the same high-quality materials as its bed linens. The firm is looking to scale up across Southeast Asia.

Also Read: Is Singapore’s domestic market really that small?

Starting the business during the pandemic was a tremendous learning experience and had many challenges. The founder was six months pregnant when they launched Kapas Living, and it was a lot to juggle, from learning e-commerce and digital marketing to setting up a warehouse.

Navigating the supply chain was another hurdle, with one batch of inventory having to be written off due to quality issues. These challenges were invaluable lessons and made them stronger as a team.

As a bootstrapped company, Kapas Living managed cash flow by doing everything itself at the beginning, from building the website to packing orders. The firm also benefited from media coverage, which helped build brand recognition without marketing spend.

Vin admits that balancing motherhood and entrepreneurship required significant planning and support from family. Relocating to Singapore taught them to delegate and trust their team.

The future is bright

Kapas Living has grand ambitions. It wants to continue innovating and expanding its product range. It considers Malaysia and Singapore its core markets and wants to deepen its presence there. It is also open to expanding into other parts of Southeast Asia.

With a focus on continuous hard work and perseverance, the future looks promising for Kapas Living.

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BrightCHAMPS, a global company providing online, offline, and hybrid STEM-accredited life skills classes, has acquired the Indian K12 education marketplace Edjust in a cash and stock deal.

Other details of the transaction remain undisclosed.

This marks BrightCHAMPS’s fourth acquisition since its inception in 2020, following Education10x (2021), Schola (2022), and Metamorphosis Edu (2023).

The Edjust acquisition is a strategic move to strengthen global expansion efforts and “enforce higher standards in customer acquisition” within the edutech industry.

Also Read: Edutech firm BrightCHAMPS earmarks US$10M to double down on Vietnam

BrightCHAMPS CEO Ravi Bhushan said: “This acquisition is a particularly exciting milestone because it is a clear financial indicator of our priorities and our strategy for growing the company in a sustainable manner.”

Under BrightCHAMPS, the founders of Edjust will focus on refining their sales model and expanding parent networks across all 30 of BrightCHAMPS’s operational regions. The combined entity aims to incorporate personalised AR, VR, and XR experiences to provide potential students and parents with a comprehensive view of their educational journey.

The acquisition also includes plans for a new distribution channel that will deliver academic content in subjects such as Math, Science, and English. This move aims to ensure students’ overall success and future readiness.

Founded in 2022 by Dushyant Panchal, Anmol Mittal, and Sanjay Panikar, Edjust utilises a blend of AI and human emotional intelligence, along with data and contact centres, to identify parents with a strong interest in edutech products. With a track record in the US and UK markets, Edjust’s approach ensures sales efforts are directed towards genuinely interested parties.

Also Read: ‘High cash-burn growth strategy is ultimately unsustainable’: BrightCHAMPS’s Ravi Bhushan

Established in 2020, BrightCHAMPS offers STEM-accredited classes in various subjects, including coding, robotics, AI, financial literacy, and entrepreneurship. The company has raised US$63 million from GSV Ventures, BEENEXT, Premji Invest, and 021 Capital.

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