Indonesia’s growing artificial intelligence (AI) ecosystem marked a significant milestone with the conclusion of IndoBuild AI’s inaugural Demo Day, held on March 13. Spearheaded by East Ventures, a venture capital firm in Indonesia and Southeast Asia (SEA), the event showcased the country’s emerging AI talents tackling real-world challenges across key sectors.

IndoBuild AI, launched earlier this year, serves as a platform designed to equip AI innovators with resources to develop practical solutions while providing exposure to potential investors and stakeholders.

The Demo Day offered ten curated finalists the opportunity to present their AI-driven projects addressing challenges in healthcare, education, lifestyle, government, and agriculture—sectors crucial to Indonesia’s economic and social development.

The event attracted support from government officials and industry experts, highlighting the importance of AI mastery in shaping the country’s digital future.

Izak Jenie, Expert Staff for Health Digitalisation of the Minister of Health, underscored the critical role of AI adoption in Indonesia’s national progress at the event.

“As we stand at the inflexion point of AI, mastering this is no longer optional but essential for shaping Indonesia’s future to unlock new opportunities, enhance efficiency, and hopefully strengthen our nation’s global competitiveness,” he said.

Also Read: East Ventures and Temasek Foundation launch CIIC 2025 to boost climate tech innovation

The judging panel comprised Andrian Kurniady, CTO in Residence at East Ventures; Izak Jenie; and Hokiman Kurniawan, Co-Founder and CEO of Meeting.ai.

The panel evaluated the finalists’ ability to solve pressing issues through innovative AI applications.

Lentera.ai emerged as the first winner of its platform, offering science-based insights into health products. Designed to support manufacturers, content creators, and marketplaces, Lentera.ai aims to empower users with reliable information in a market often overwhelmed by unverified claims.

The second-place winner, LeaseSync, presented a large language model-powered platform that automates the analysis and management of Indonesian lease agreements. This solution addresses a common pain point for businesses navigating complex legal documentation.

The winners received a total cash prize of IDR15 million (US$913) from East Ventures. Supporting partners, including Alibaba Cloud, AWS, and Google Cloud, provided additional perks and benefits, reinforcing the collaborative effort to nurture Indonesia’s AI landscape.

“IndoBuild AI must continue to be encouraged as it serves as a forum for solution creators like us to express what is worrying and turn it into solutions that can answer the community’s needs,” said Javear Pendang of Lentera.ai. “We are grateful that the solution presented by Lentera.ai has also become a concern for the panellists and was finally chosen as the winner.”

Also Read: East Ventures, SV Investment secure first close of US$100M cross-border fund

Reflecting on the event, East Ventures’ Co-Founder and Managing Partner, Willson Cuaca, emphasised the firm’s ongoing commitment to AI development in the country.

“The conclusion of this event is not the end of our efforts; rather, it strengthens our commitment to shaping Indonesia’s AI ecosystem. We look forward to taking an even more active role in driving impactful initiatives, investments, and partnerships that empower transformative AI solutions in Indonesia,” he said.

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Image Credit: East Ventures

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Singapore’s push towards greener waterways took a major leap forward with the official launch of the country’s first solar-powered ferry, the Pyxis R.

Developed by Singapore-based maritime electrification startup Pyxis, the Pyxis R builds on the success of the company’s first electric vessel series, Pyxis One, which was introduced last year.

Now part of the fleet of leading river cruise operator WaterB, the Pyxis R marks a significant milestone in sustainable maritime transport. It offers a cleaner and more energy-efficient way to experience the city’s iconic river.

Unveiled at the “Our River, Reimagined” event held on March 17 at the ArtScience Museum, the Pyxis R introduces a groundbreaking innovation to Singapore’s maritime landscape—Vehicle-to-Grid (V2G) technology. The project is the result of a strategic partnership between Pyxis Maritime, SP Mobility, The Mobility House Asia Pacific (TMH), and WaterB, formed through a Memorandum of Understanding (MOU) to pilot practical V2G solutions on the water.

According to Tommy Phun, Founder and CEO of Pyxis, the Pyxis R was designed to “reimagine the waterways” with smart, solar-assisted electric vessels that minimise environmental impact while optimising efficiency.

Also Read: Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles

Featuring a highly efficient aluminium catamaran hull, the Pyxis R requires only the power equivalent of three to four hairdryers to cruise along the Singapore River.

In this interview with e27, Phun explains how the company aims to contribute to the effort towards net zero and what is coming up next for the company. The following is an edited excerpt of the conversation.

How does Pyxis R contribute to Singapore’s broader push towards a net-zero maritime industry? What specific emissions-reduction targets are you aiming for?

Singapore has set net-zero goals for the maritime industry, and Pyxis R is a crucial milestone in that journey. An important feature of Pyxis R is its vehicle-to-grid (V2G) capability, which allows excess solar-generated energy to be exported to the electricity grid.

This innovation improves overall energy efficiency and helps advance the goal of achieving net-zero emissions.

What are the key technological advancements powering Pyxis R? How do they enhance efficiency and sustainability in maritime operations?

Pyxis R is powered by an integrated solar-assisted charging system that helps extend its range and reduce reliance on shore-based charging.

In addition to its vehicle-to-grid (V2G) capability, Pyxis R is also equipped with smart energy management systems and IoT-enabled monitoring. Its real-time data analytics enable predictive maintenance, ensuring reliability while minimising downtime.

These innovations make Pyxis R, not just a cleaner alternative but a smarter one – enhancing efficiency, reducing operational costs and supporting Singapore’s transition to a net-zero maritime industry.

Also Read: Thinking out loud: Are electric vehicles as sustainable as we believe?

How has the reception been from stakeholders in the maritime sector, including shipping companies, regulators, and port operators?

The momentum for maritime electrification is stronger than ever, and the response has been overwhelmingly positive. Maritime companies view the Pyxis electric product lines as a significant step toward achieving sustainability targets while providing long-term cost benefits.

Operators are also excited about the potential for integrated smart charging infrastructure, which we are actively developing alongside partners, including SP Mobility.

Singapore has been proactive in implementing green maritime policies. How does Pyxis R align with these regulations, and what challenges do you anticipate in compliance and implementation?

Pyxis R is designed to align with the country’s green plan by supporting the transition to electric vessels and promoting a net-zero maritime industry. One of the key challenges we anticipate is attracting talent and transforming the workforce.

As the industry shifts toward electrification and digitalisation, there is a growing need for maritime professionals with expertise in electric propulsion, energy management and data-driven fleet operations.

We are actively working with industry partners and educational institutions to build a strong talent pipeline, ensuring that the next generation of maritime professionals has the skills needed to build a sustainable future.

Do you see the potential for Pyxis R to expand beyond Singapore? What are the opportunities and hurdles in bringing this technology to regional or global markets?

Absolutely. Many coastal cities across Asia and beyond are facing the same pressure to decarbonise their maritime industries.

For instance, Japan has been actively exploring green port initiatives, and we have signed an MOU with one of the world’s largest shipping companies, Mitsui O.S.K Lines (MOL) to expand into the country.

Also Read: Driving the future: How Auve Tech’s autonomous shuttles are reshaping urban mobility

The challenge lies in adapting our technology to different regulatory environments and ensuring the infrastructure is in place for seamless adoption. However, with growing global interest in green port ecosystems, we see immense potential for expansion into the region.

What’s next for Pyxis following the launch of Pyxis R? Are there additional innovations or partnerships in the pipeline to further transform the maritime sector?

The launch of Pyxis R marks a significant step in our commitment to innovating for a greener maritime industry. We are currently developing the next pipeline of new vessel models tailored to different maritime use cases.

Additionally, we are expanding our marine charging infrastructure and refining our Electra platform for smart fleet management.

Beyond Singapore, we are also in discussions with regional partners to bring our vessels to other markets. Our goal is to create a fully connected, electrified maritime network, and we are excited about the journey ahead.

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Image Credit: Pyxis

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Singapore-based Motion Ventures, Rainmaking’s corporate innovation and venture development arm, has launched its second fund, a US$100 million initiative dedicated to maritime technology.

The fund will target solutions that digitise and decarbonise the global maritime supply chain. It will support startups developing more asset-intensive hardware solutions, reflecting the growing demand for tangible progress in sustainability, vessel operations, and port modernisation.

Over the next 18 to 24 months, Motion Ventures Fund II plans to invest between US$250,000 and US$10,000,000 in at least 25 companies.

Also Read: It’s about time: Why global trade will sink without maritime innovation

The new fund has already secured over half its target, with most of its Fund I backers reinvesting at the first close and others in advanced discussions. “This demonstrates strong confidence in our model and the traction we’ve built. We’ve also welcomed new sources of strategic industry capital, including pre-eminent family offices and institutional investors with existing exposure to maritime innovation,” Shaun Hon, founder and General Partner of Motion Ventures, said.

“The fact that the majority of Fund I investors have followed on, alongside new strategic LPs, reinforces that our model isn’t just working; it’s scaling. With Fund II, Motion Ventures now has the largest maritime corporate consortium in venture capital, meaning our LPs include representation across the maritime value chain. For the startups in our portfolio, this means they gain a competitive advantage of ecosystem access for deeper industry collaboration, real-world pilots, and faster adoption pathways,” he added.

Fund II has already invested in OceanScore and Fernride, bringing the total number of deals across its first and second funds to 30. The VC firm has also expanded its industry consortium to 17 major maritime and supply chain stakeholders.

The new fund builds on the success of Motion Ventures Fund I, launched in 2021, which has already generated two profitable exits. It has made joint investments with SEEDS Capital in startups, including Pyxis. Since its inception in 2021, the firm has evaluated over 8,000 startups through its rigorous investment process.

Jan Holm, Advisor to Motion Ventures, said: “By pairing ambitious founders with strategic backers, Fund II represents a crucial step forward: bringing together fresh solutions, both digital and hardware-based, and fast-tracking their path to scale.”

The VC firm follows a consortium-driven approach, with the Motion Ventures Alliance providing portfolio companies access to over 80 seasoned maritime executives for mentorship and pilot opportunities.

The maritime digitisation market is projected to reach US$423.4 billion by 2031, driven by regulatory and customer pressures.

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The Securities Commission of Malaysia (SC) published the new Guidelines on Regulatory Sandbox on 17 February 2025, enabling fintech businesses to deploy capital market products or services in a sandbox environment.

The SC’s regulatory sandbox was first announced on 1 October 2024 during the SCxSC Summit, the SC’s annual fintech event. 

This article looks at the SC sandbox’s requirements including a summary of the expected conditions to be fulfilled by an applicant.

Overview of the SC’s regulatory sandbox

The SC provides regulatory oversight for Malaysia’s capital markets, which include diverse investment products like collective investment schemes, listed and unlisted equities, bonds, derivatives, and digital assets (e.g. cryptocurrencies).

An applicant may be a local or foreign fintech business that may wish to test a new innovative product or service within a controlled and supervised environment by the SC. 

In contrast, the Central Bank of Malaysia, a regulator which supervises financial institutions and related intermediaries such as banks and insurance companies, had  issued an updated Financial Technology Regulatory Sandbox Framework on 29 February 2024, covering fintech products and services that may fall under the Central Bank of Malaysia’s supervision. 

What  are the main benefits of the sandbox?

SC may exempt fintech applicants from specific regulations for the sandbox duration. This may assist an applicant who faces challenges in meeting existing regulatory requirements to experiment or roll out their products and services under a more relaxed regulatory framework, but within a well defined space and duration agreed with the SC. 

Additionally, the opportunity to engage with the SC’s team and the bilateral sharing of information may assist to shape a more practical regulatory framework in future. At the very least, it may lend insights into the regulator’s expectations on the application of existing regulations.

Who can apply to be in the sandbox?

The SC has set out eligibility criteria that must be satisfied by the applicant.

When it comes to the applicant, the entity and the senior management involved must have the necessary resources in place to implement the testing plan set out during the sandbox stage and commercialisation plan. 

The proposed product or service must fulfil the conditions such as new and intended for use in the Malaysian market, must be beneficial to the Malaysian capital market and does not fit any existing capital market regulations.

Also Read: Bridging the digital divide: Addressing Malaysia’s skills gap

Pre-consultation is mandatory before formal sandbox participation

An applicant must engage the SC to arrange for a compulsory pre-consultation before submitting the formal submission. 

A pre-consultation does not guarantee admission into the sandbox and is not a replacement for consultancy services or legal support. In other words, an applicant has to conduct its own due diligence and evaluation on how it will meet the evaluation criteria prescribed by the SC.

What to include in a business plan to the SC?

According to the SC’s Regulatory Sandbox Application Guide, the business plan should contain details on the applicant’s organisation, structure of its management team, capital market product or service to be offered, process flow of the model, and how the applicant fulfils the eligibility criteria.

In addition to the above, the Application Form for the Regulatory Sandbox sets out more detailed details that will need to be addressed and specified by the applicant in the application.

For instance, it is crucial for an applicant to highlight how the proposed product or service to be tested under the sandbox may not fully fit or will be in breach of any existing regulatory framework or could not be complied with (i.e citing such specific regulation or law to highlight areas of non-compliance).

How to apply to be in the sandbox?

After the pre-consultation meeting, the applicant can submit the relevant application form and supporting documents and information as set out in the via email and physical format to the SC. 

When to apply to be in the sandbox?

According to the SC’s website, submissions will open on 15 April 2025 until 31 May 2025. The review may be expected to take around 30 working days or longer depending on the proposal. Successful applicants will receive at least 12 months’ testing period, allowing a real world testing plan under controlled environment.

In contrast, there is no time limit for a fintech business to apply to the Central Bank of Malaysia’s regulatory sandbox.

Also Read: US tariffs on semiconductors and autos put Malaysia’s trade at risk

What happens after the sandbox?

The legal requirements relaxed by the SC during the sandbox stage will likely expire, unless an extension period is granted by the SC. If the test meets the goals presented to the SC, the participant would likely be offered to be regulated and roll out the product or service in Malaysia, as required by the law. 

If the goals are not met, or the applicant fails to comply with the SC’s conditions during the sandbox, the applicant may likely need to cease its service and wind down the business based on the agreed cessation plan submitted to the SC. 

Any other issues to be mindful of?

An applicant must ensure that all the directors, major shareholders and senior management of the applicant fulfils the fit and proper criteria set out by the SC.

Additionally, the applicant must demonstrate their readiness to offer the product or service and have a testing plan (including key milestones, outcomes, and timelines of the test, type of clientele/ investors, infrastructure and technology to be deployed, human resources etc. to demonstrate readiness to test and to carry out its operations).

Considering that the proposed product or service may usually be delivered via an online platform, the SC expects the applicant to implement governance controls, frameworks, policies and procedures commensurating to its business and in compliance to the SC’s Guidelines on Technology Risk Management. Therefore, the applicant must have robust and sound cybersecurity measures in place.

Final thoughts

Fintech businesses applying to the SC’s new regulatory sandbox should consult a legal counsel to assess their business plan, particularly to identify specific regulatory impediment in Malaysia’s legal landscape related to their proposed capital market product or service. This ensures compliance and help address potential regulator queries during evaluation.

Interested applicants should refer to the SC’s Regulatory Sandbox section to obtain all relevant information and documents including the guidelines and the application form on the sandbox programme.

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A fascinating trend emerged from our company’s inaugural “Zero to 100” pre-startup education program. The behaviour of the 50+ participants, ranging from their 20s to 40s, signals an emerging paradigm shift in Korea’s startup ecosystem. Most notably, we’re witnessing the dissolution of the traditional “full-time entrepreneurship” model.

A significant portion of employed participants expressed their intention to launch startups part-time while maintaining their current positions. Even more striking was that over half preferred co-founding ventures rather than shouldering all responsibilities alone.

They sought collaboration with individuals possessing complementary expertise. As one participant explained, “While entrepreneurship is my dream, I realistically can’t abandon my livelihood. However, we can certainly share our expertise.”

This approach aligns with the global “fractional entrepreneurship” movement, where individuals participate as co-founders or executives across multiple startups. Similar to specialists practising part-time at various hospitals, these professionals distribute their expertise across different ventures. As the concept of “lifetime employment” fades, experts are allocating their time and capabilities more flexibly across organisations.

Our “Zero to 100” graduates exemplify this evolution. One team developing a startup-focused YouTube channel comprises a video production CEO and a startup event company executive who utilise their spare time for the project.

Another team preparing to enter Singapore’s F&B market consists of industry specialists and a spatial designer collaborating with our venture studio team. They initially chose to collaborate virtually without physical space, sharing their expertise on an hourly basis.

This approach proves particularly advantageous for international expansion strategies. The traditional method of establishing overseas subsidiaries by dispatching staff from headquarters is becoming obsolete in the startup sector. Instead, minimising trial-and-error through fractional collaboration with local experts is gaining prominence.

A team preparing for Singapore market entry noted, “Efficiently leveraging local experts’ time is far more effective than learning everything from scratch.”

Also Read: How AI and automation are shaping the future of work

Artificial intelligence is accelerating this transformation. As AI increasingly handles middle management and administrative tasks, spatiotemporal constraints are dissolving.

We’re entering an era where product planners from Korea, IT developers from Vietnam, and marketers from Singapore can form virtual entrepreneurial teams. This represents a significant shift from vertical, rigid organisational cultures to horizontal, flexible networks. Pyramid-like hierarchies are transforming into web-like collaborative structures.

For mid-career professionals with 10-20 years of experience in their 40s and 50s, this presents both challenges and opportunities. While the lifetime employment era allowed focus on a single domain, today’s professionals must accumulate diverse experiences across multiple fields. Though seemingly unstable, this approach may actually provide greater security.

These changes promise to revitalise the startup ecosystem by facilitating the free circulation of expertise previously confined within corporations and enabling diverse experimentation. One participant articulated, “We’re no longer pursuing ‘my company’ but rather ‘our projects’—gathering expertise as needed and dispersing when new opportunities arise.”

The transformation has already begun. As the “lifetime employment” framework crumbles, we’re entering an era where careers are designed around “multiple roles” rather than “single workplaces.” Entrepreneurship and global expansion are evolving from “all-in” to “piece-by-piece” approaches. We stand at the inflection point of transition from “all-in” to “smart-in” strategies.

This article was originally published in Korean here. 

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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 us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image courtesy of the author.

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