A comprehensive and well-thought-out fundraising strategy is crucial for any startup to succeed. As the world steps into the second half of 2024, now is the ideal time to revisit and revise your approach to business. 

Fundraising plans are meant to be flexible. Therefore, you need to account for the unexpected and address any issues in your existing strategy. Determine whether your current plan is effective and consider the following changes to meet this year’s fundraising goals. 

Why revisit your fundraising strategy?

Nobody ever said venture funding would be a breeze. In fact, startup fundraising in Asia decreased by four per cent to US$17.3 billion from Q4 2023 to Q1 2024 — an eight per cent year-over-year drop and the lowest funding amount since Q4 2016. 

This news could dampen any startup venturist’s spirits. After all, few things are as frustrating as hitting a fundraising plateau when you’re on a streak. Yet, situations like these are bound to arise eventually. If you aren’t in the habit of reviewing your approach monthly or quarterly, you should rethink your plan mid-year.

There are many benefits to re-strategising your funding approach:

• Ensure your organisation can meet its goals structurally, operationally and financially
• Prepare for an impactful event, like a recession or pandemic, and acclimate to new circumstances
• Improve donor segmentation to ensure it best aligns with your startup’s priorities
• Gain insight into fundraising efficiency and identify the most effective and underperforming campaigns

Also Read: Short runway, big dreams: Strategies for startups when growth outpaces funding

Five tips to revise your fundraising approach 

How much of your company’s 2024 fundraising objectives have you reached? All startup owners hope to be ahead of the game, but if you’re not, there is still plenty of time to catch up.

Here are five tips to revise your mid-year strategy and boost donor investments.

Adopt a milestone-driven mindset

Every startup venture is different, meaning there isn’t a set amount of money you must raise to thrive. Instead, your approach should be to raise enough funds to hit your startup milestones, such as launching a product, seeking regulatory approvals, hiring staff, finding a customer base or reducing the sales cycle time.

Your startup will be risky initially because of the vast amount of uncertainty. A milestone-driven mindset toward fundraising allows you to de-risk your company through trial products and business models. Determining the appropriate metrics will indicate whether your company is moving in the right direction and if you’re ready for the next level of fundraising.

Offer more secure payment options

Donors are more concerned about payment security and convenience than ever before. Therefore, startup business owners should incorporate innovative payment solutions with greater transparency.

For instance, the days when donors wrote a check to a startup company are long gone. Quick response (QR) codes are easy for donors to scan with their smartphones and allow contactless donations. These payment features are also faster during donation events with immediate receipts and expense tracking, attracting more donors from the digital landscape. 

According to a Future Markets Insights report, QR codes are increasingly popular in the Chinese and Japanese markets. In China, QR code labels have risen by 12.1 per cent, particularly in e-commerce and the food and beverage industry. The transition to the digital wallet has also caused a 10.3 per cent increase in the QR code market in Japan by 2033.

Measure areas of improvement

During your mid-year fundraising check-in, garner insights about your startup’s donor channels, digital campaigns, retention rates, and average donor amounts. Then, make the necessary changes to your approach.

Are there effective donor channels you should allocate your resources toward? How can you reinforce your relationships with existing donors? Surveys, panels and direct conversations are excellent ways to gauge donor preferences and receive valuable feedback on your efforts.

Also Read: Funding winter is the best time to build a startup

Integrating a customer relationship management system is practical for tracking donor information, delivering exemplary customer service and simplifying your startup’s operations more efficiently.

Revise your goals

Revise your fundraising goals mid-year to better support your company or organisation’s mission and financial demands. This could include breaking the amount into manageable results or lowering or raising the bar. Also, include deadlines for reaching specific amounts.

You might even optimise existing strategies while expanding your partnerships and efforts. Review emerging opportunities and trends — including your company’s communications, technology use and engagement strategies — for a more diversified revenue stream.

Start a mid-year campaign

Is there a better way to dive into mid-year fundraising than hitting the restart button with a new campaign? After careful data analysis of your current strategy, it’s time to implement a new fundraising approach for the remainder of 2024.

Highlight your startup’s impact and demonstrate what previous investments in your company have helped achieve. Then, use comprehensive segmentation to personalise correspondences with donors and stakeholders.

Strategic planning triumphs fundraising goals

As a startup business owner, you understand the importance of developing a comprehensive fundraising strategy. However, it’s equally essential for your plans to remain flexible along the way.

Take this time to review your current goals and optimise your mid-year approach accordingly for the latter half of 2024.

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This article was first published on July 16, 2024

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EDGE Tutor International, an online tutoring outsourcing company in the Philippines, has closed a US$1 million pre-Series A funding round.

The round was led by Seaborne Capital, M Venture Partners, Kaya Founders, Orvel Ventures, IdeaSpace, Lorinet Foundation, and unnamed angel investors.

This round follows a US$800,000 seed funding in 2023.

Also Read: Why the education sector needs a lesson in ad fraud

With this new capital, EDGE Tutor will scale operations and expand further into North America, Latin America, Europe, and the Middle East. These regions have collectively grown from 5 per cent of revenue in 2022 to 30 per cent in 2024, with projections to surpass 50 per cent by 2026.

The company also plans to scale its tutor capacity from 1,000 today to 5,000 by 2026 and invest in AI-driven automation for teacher training, quality control, curriculum development, and lesson delivery.

Present in New York, London, Singapore, and Manila, EDGE Tutor aims to bridge the gap between high-quality Filipino educators and tutoring companies worldwide. Through its B2B model, the startup provides global education companies with skilled tutors and end-to-end management, delivering live instruction at scale under their brand through a fully managed, white-labelled service.

The company’s rigorous selection process accepts just 3 per cent of the thousands of certified teachers who apply every month, ensuring only the best educators are matched with education companies worldwide.

Since launching in 2023, EDGE Tutor claims to have delivered 800,000 lessons and is on track to surpass 1 million in early 2025.

While AI is transforming education, EDGE Tutor stands as a contrarian bet on what learners ultimately crave: affordable, human-centric learning experiences.

Also Read: The future of edutech: Personalising learning for all

“There’s nothing artificial about the passion and dedication of our 1,000+ tutors. We see it every day in the way they connect with students and make learning come alive. Our 50 clients across 30 countries are experiencing firsthand that live instruction isn’t just valuable—it’s in demand.

AI makes for a great co-pilot and a powerful supplement between live sessions, but we (along with our clients and their learners) find that nothing replaces the power of human connection,” said Henry Motte de la Motte, CEO and founder of EDGE Tutor.

The global tutoring market is valued at US$200 billion, with its online component growing at 15 per cent year over year, even post-pandemic. Despite this surge in digital education, 80 per cent of tutoring still takes place in person, with only 20 per cent conducted online—highlighting a vast opportunity for the online tutoring companies that EDGE Tutor supports.

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Your health as a founder is a priority — it affects how well you run your company. But you may be time-crunched, a frequent flyer, on a tight cash flow, etc. Such circumstances can make it hard to exercise.

I am the Founder of a bootstrapped health startup, and similarly, I face such challenges.

Thankfully, I have a decade of personal trainer and coaching experience, and last year, I decided to practice what I preach. The result? I tangibly improved my health, and leading my company became more enjoyable.

Here are five tips I have for fellow founders who want to take back their health; we start with the obvious, then go into the magic.

Set workout goals based on your health needs

Not all workouts are created equal. For example, a particular type of workout is better for you if you have high blood pressure (isometrics). Likewise, if you are going through perimenopause, on weight loss drugs, etc.

It is essential to find out what health goal you should set as the target for your workouts. Without an informed goal, you will likely spend mindless effort improving your fitness instead of your health. Sometimes, your fitness goals may even hamper health improvements.

Takeaway: utilise health screening, past health records, etc. to determine what health goals to set for your workout routine.

Systemise your routine

James Clear wrote in his best-selling book Atomic Habits, “You do not rise to the level of your goals. You fall to the level of your systems.” This is true for both your company and workouts. Like many people, your regime might falter across the year due to other commitments.

Also Read: Top 5 strategies on how startup founders can drive healthy, rapid growth in an uncertain economy

Thankfully, you can plan for that. The tip here is to find a system that still produces results despite expected decreases in effort.

It is easier said than done. Hence, I’m sharing what worked for me in the following three tips and the video below.

Takeaway: find a workout ‘system’ that gives you the best chance of success

Set a Northstar metric for your workouts

The main workout metrics that usually matter for health goals are cardiorespiratory fitness, power, strength, balance, and mobility. For some people, it is weight. Just note that, if so, there are health improvement limitations when you use it as a Northstar metric. Hence, it might not be a true north.

Ultimately, your health goal determines which metric to focus on. There are then tests to help you quantify and track these metrics.

In various cases, these test results also inform you how best to work out. For example,

• Strength tests help you find out your weakest areas – these areas can have the largest potential for improvement and require the least effort to see gains
• Cardiorespiratory tests can give you the heart train ranges to exercise – working out accordingly is the most efficient way to improve your cardiorespiratory fitness

Takeaway: create a system that optimises the main metric(s).

Find the minimum viable workout

Here’s a quick story to better convey this point. In January last year, I spent four seconds per day working out for 22 consecutive days, increasing my maximum strength by 30 per cent. All I did was an isometric mid-thigh pull.

The data below shows the force measured when I do the pull exercise for four seconds daily.

My result aligns with a study by Danny Lum, PhD, head of strength of conditioning at Singapore Sports Institute. He shared more about the study in a podcast I shot with him. Check out the timestamp here for more details.

Also Read: Finding your groove: Balancing the hustle and emotional health as a startup founder

Coming back, this is an example of a minimum viable workout to gain strength, which, with a simple inelastic band, can be done anywhere, anytime. There are other ‘minimum viable workouts’ that you can create for the metric you are optimising too.

Essentially, such workouts get you through the days you can afford minimum exertion. And as a founder, you will likely have many of those days. The key here is that with your minimum viable workout, you should be able to improve your health and performance regardless.

Takeaway: Find the minimum viable workout for your Northstar metric that would fit nicely into your system

Look for a group

My last tip is to look for a community to get healthier together. As the cliche goes, “If you want to go fast, go alone. If you want to go far, go together.”

I started a Healthy CEO Club that practices my aforementioned system because it aligns with my startup’s work of building community-based health solutions.

Nevertheless, there are other options for founders if you search for them. At the end of the day, having a community makes your health journey more fruitful, sustainable, and rewarding. Whether it’s running a company or traversing your health journey, it boils down to people and relationships, isn’t it?

Takeaway: search for a health-centric community that works for you

Conclusion

If you have any questions about the above sharing, please feel free to contact me. I’m passionate about founder’s health, having sacrificed mine for close to a decade, and am on a mission to help everyone eat, sleep, and exercise for their health.

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With the sudden end of Hong Kong’s Technology Voucher Programme (TVP) on December 31, 2024, many businesses are now searching for new funding options to support their digital and operational improvements.

The TVP grant had been instrumental in helping small and medium enterprises (SMEs) adopt technology to stay competitive. While this closure marks a shift, several alternative grants are still available to assist businesses in digital transformation, market expansion, and e-commerce.

Here’s a breakdown of the most viable funding options as of early 2025.

Digital Transformation Support Pilot Programme (DTSPP)

Designed for SMEs in the retail, food and beverage (F&B), tourism, and personal services industries, the DTSPP supports the adoption of ready-to-use digital solutions such as digital payments, CRM tools, and online marketing platforms. Originally focused on F&B businesses, the programme expanded in mid-2024 to include more sectors.

To ensure quality and reliability, businesses must use pre-approved solution providers, available at DTSPP Cyberport.

Key programme features:

• Funding support: Up to 50 per cent of project costs
• Maximum grant: HK$50,000 (US$6,423) per business
• Eligible projects: Digital payments, CRM systems, and online marketing
• Who can apply: SMEs registered and operating in Hong Kong
• More info: DTSPP Official Website

Branding, Upgrading & Domestic Sales (BUD) Fund

The BUD Fund supports businesses looking to expand into international markets by funding branding, business development, and digital sales initiatives. Many companies leverage this grant to develop e-commerce platforms, mobile apps, and localised websites that enhance their overseas presence.

Key programme features:

• Funding support: Up to 50 per cent of project costs
• Maximum grant: HK$7 million (US$899,000)per enterprise
• Eligible projects: Market expansion, digital branding, and website/app development
• Who can apply: Hong Kong-based SMEs with post-revenue status
• Application portal: BUD Fund

Easy BUD

A streamlined version of the BUD Fund, Easy BUD simplifies the application process for businesses looking to expand their online presence and sales. This grant focuses on digital marketing, cross-border e-commerce, and mobile app development.

Key programme features:

• Funding support: Covers 50 per cent of project costs
• Maximum grant: HK$1 million (US$128,400) per business
• Eligible projects: Digital marketing, website and mobile app development for international markets
• Who can apply: SMEs in Hong Kong with existing revenue streams

Also Read: From Seed to Series: Navigating different funding rounds with PR

E-commerce Easy BUD

Tailored for businesses targeting China’s booming e-commerce sector, E-commerce Easy BUD supports digital marketing, website integration, and mobile apps for cross-border sales. Companies can use this funding to establish a presence on leading platforms such as Xiaohongshu (Little Red Book), Douyin (TikTok China), and Taobao.

Key programme features:

• Funding support: 50 per cent of project costs
• Maximum grant: HK$1 million (US$128,400) per enterprise
• Eligible projects: Online sales platforms, mobile apps, and e-commerce marketing
• Who can apply: Hong Kong-registered SMEs targeting China’s digital market

SME Export Marketing Fund (EMF)

The SME Export Marketing Fund (EMF) assists businesses in expanding their presence in international markets through trade fairs, digital marketing, and promotional activities.

Key programme features:

• Funding support: 50 per cent of eligible expenses covered
• Grant limits: Up to HK$100,000 (US$12,840.86) per application, with a lifetime cap of HK$1 million (US$128,400) per business
• Eligible projects: Overseas advertising, trade shows, and online marketing campaigns
• Who can apply: SMEs registered and operating in Hong Kong
• Application details: EMF Grant Portal

Conclusion

While the closure of the TVP Grant marks a significant shift, several alternative funding options remain available for businesses in Hong Kong. Whether you’re focused on digital transformation, expanding into new markets, or boosting e-commerce sales, these grants provide valuable support to drive growth and innovation.

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Una Brands co-founder Kiren Tanna has announced his departure from the CEO role four years after building the e-commerce aggregating startup, he announced in a LinkedIn post.

Cho Weihao, the current CFO, has taken over the CEO’s role.

Tanna said he would spend more time with his family and explore new ideas at the intersection of consumer and AI while advising founders and the venture ecosystem. He is particularly interested in company building, fundraising, GTM/expansion strategies, and scaling businesses.

Una Brands was established in 2020 by Tanna, the former CEO of Rocket Internet Asia and founder of Foodpanda and ZEN Rooms, with Adrian Johnston, Kushal Patel, Tobias Heusch, and Srinivasan Shridharan.

The company acquires brands selling across multiple e-commerce channels such as Shopify, Shopee, Lazada, Tokopedia, and Amazon. It primarily focuses on profitable independent brands with revenue between US$1 million and US$50 million.

Also Read: Una Brands rakes in US$30M to acquire e-commerce brands in home & living, mom & baby segments

Una Brands has acquired over 20 brands so far and has grown its revenue from zero to a US$70 million run rate. Its flagship brands, ErgoTune and EverDesk, are now in multiple countries across the APAC region and beyond.

According to Tanna, the firm has achieved Group EBITDA profitability. Looking ahead, Una Brands will focus on maintaining profitability with targeted investments in sustainable growth.

The startup has offices in Asia-Pacific, with a presence in Singapore, Australia, India, China, Indonesia, Malaysia, Taiwan, Korea, and Japan.

“The journey has not been without its challenges,” Tanna noted in the post. “As global credit tightened and Covid-driven growth waned, the Amazon aggregator business model was not as hot as when we started. The team had the foresight to make strategic shifts -slowing acquisitions and optimizing spending to achieve profitability, which we have successfully done over the last 18 months.”

Since its inception, the e-commerce aggregator has raised US$115 million in funding from a variety of investors, including White Star Capital, Alpha JWC, 500 Startups, 468 Capital, Claret Capital Partners, and Ninja Van co-founder Alvin Teo.

Rainforest is Una Brands’s key competitor in this space. The Singapore-based startup is backed by Canopy Tropics, Monks Hill Ventures, Insignia Venture Partners, and January Capital.

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