Kuala Lumpur, Malaysia – TikTok is set to host an exclusive, high-impact event aimed at helping brands tap into the immense potential of the Ramadan season. Join Ramadan Ready for SMBs: Elevate Your Brand’s Story on TikTok on 16 January 2025 at Hotel Maya in Kuala Lumpur! This special event promises to equip marketers, advertisers, and business owners with actionable strategies, insights, and tools to maximize their TikTok presence during Ramadan and beyond.

As Ramadan approaches, brands are increasingly looking for ways to connect authentically with the diverse and engaged TikTok audience. This event will feature expert speakers, such as TikTok SMB Account Managers Michelle Lau and Eric Chen. They will share in-depth strategies on how brands can drive awareness, engagement, and sales. Specifically, they will show how to do this through TikTok’s innovative ad formats and creative solutions. Ramadan Ready for SMBs is sponsored by Digitor and WORQ.

Also read: A new insights attitude for SMEs in the era of the ‘insights engine’

What to expect at TikTok’s Ramadan Ready for SMBs

Attendees will gain exclusive insights into how Ramadan is a cultural moment beyond its religious significance. Experts will explore how values like reflection, generosity, and community shape consumer behavior during this season and how brands can authentically connect with audiences. The event will also cover proven campaign strategies for each phase of Ramadan. Specifically, these phases are Pre-Ramadan, Ramadan, Hari Raya, and Post-Raya. Speakers will show you how to tailor content to engage your audience using tools like countdown stickers and festive videos.

Real-world success stories will demonstrate how brands have leveraged TikTok’s innovative advertising tools to boost results. As a result, they were able to improve bidding efficiency and expand reach. Interactive sessions and workshops will help you optimize your campaigns and measure success through key performance indicators (KPIs). This is an unmissable chance to build a comprehensive roadmap to enhance your TikTok presence, particularly during Ramadan.

Harnessing the cultural power of Ramadan: Insights from Nestlé and Applecrumby

RSVP now to gain access to an exclusive panel discussion featuring experts from Nestlé and Applecrumby as they dive into how Ramadan represents a powerful cultural moment for brands. Discover how aligning your brand’s messaging with the values of reflection, community, and generosity can create lasting, meaningful connections with your audience.

This is your chance to learn how Ramadan influences consumer behavior. The session will also feature success stories from brands that have effectively tapped into the spirit of Ramadan, offering valuable insights on how to drive engagement and build stronger relationships with your audience during this season.

Also read: 3 easy tips for SMEs to build overseas customer loyalty

Must-attend event for SMBs, marketers, and creators

This event is a must-attend for anyone looking to elevate their brand’s digital presence and engage with the rapidly growing TikTok community during the Ramadan season. Whether you’re in FMCG, fashion, beauty, or any other commerce/non-commerce sector, the insights shared at this event will provide you with a competitive edge for the upcoming Ramadan campaign and beyond.

Seats are limited, and it is expected to fill up quickly. Don’t miss your chance to gain exclusive knowledge and network with industry professionals at this one-of-a-kind event.

Ready to make this the best Ramadan ever for your business? REGISTER HERE.

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This article is produced by e27

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About TikTok

TikTok is a global platform that allows users to create, share, and discover short-form videos. With over 1 billion active users worldwide, TikTok has become a leading platform for brands to engage with diverse audiences in an authentic, creative way. During cultural moments like Ramadan, TikTok provides brands with unique opportunities to connect with users through engaging and meaningful content.

The post Exclusive event alert for SMBs: Be Ramadan ready with TikTok! appeared first on e27.

Why are you looking out?

Candidate: My company mandated everyone to go back to the office five days a week.

Over the last few days, we’ve spoken with not one but three candidates who cited the same reason for exploring new opportunities.

If more and more employees value hybrid working arrangements, are companies getting it wrong?

As of 1 December 2024, Singapore now requires companies to accept formal Flexible Work Arrangement (FWA) requests. Employees can submit these requests detailing:

• The date of request
• The type of FWA they are seeking, including frequency and duration
• The reason for the request
• Start and end dates for the FWA, if relevant

But here’s the question: Will employees feel confident submitting these requests? Or will they worry about how it might impact their performance reviews, bonuses, or even their job security?

Would they risk asking for flexibility—or simply choose to look elsewhere?

The current job market

The job market in 2023 and 2024 has been challenging. Global economic uncertainties, inflation, and consecutive wars have kept unemployment rates high. It’s an employer’s market right now, where candidates are often compelled to take what they can to make ends meet.

But this won’t last forever.

When the market improves, the power will shift back to employees. If employers don’t treat their teams fairly now, they risk losing talent later. Studies consistently show that recruitment costs are high, and the last thing any company wants is significant attrition during a bull market.

Also Read: 5 lucrative strategies Gen Z investors use to empower themselves financially

What the younger generation wants

For Gen Z, flexible work arrangements often outweigh pay and benefits. If employers mandate a five-day return to office, these employees won’t hesitate to leave. And they’ll likely have no trouble finding opportunities elsewhere.

Employers must understand that retaining top talent requires adapting to what the workforce values most—flexibility.

The workplace trade-off

However, the workplace is more than just a job—it’s where employees build the most valuable asset of their careers: relationships. For younger employees, particularly those working remotely most of the time, how can they develop strong bonds, gain mentorship, and build trust with colleagues and senior leaders?

Employers need to rethink their approach to FWAs, but employees should also consider what they might lose by prioritising remote work: opportunities for learning, networking, and sponsorship that come with face-to-face interaction.

The inevitable shift

When the power shifts back to employees, companies that adapt early to flexible work arrangements will have a competitive advantage. Those that resist change risk losing their best people—and finding replacements won’t come cheap.

Here’s our take:

• Employers: Embrace flexibility now, while you still hold the power. Let employees prove themselves with the freedom you offer. If they don’t deliver, you’ll know whether they’re the right fit.
• Employees: Flexibility is earned, not owed. If you’re not showing up (virtually or in person), putting in the work, and making a difference, someone else will. Opportunity doesn’t wait, and luck won’t always be on your side.

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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.

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In recent years, Asia has emerged as a global hub for innovation, especially at the crossroads of cryptocurrency and artificial intelligence (AI). The combination of these two powerful technologies is reshaping industries, creating new opportunities, and driving the future of tech. From finance to healthcare, Asian startups are leading the charge in this exciting space.

This article explores the rise of crypto-AI startups in Asia, their disruptive innovations, the potential for future growth, investment opportunities, and their challenges.

The rise of crypto-AI startups in Asia

Asia’s rapid adoption of digital technologies has created an environment ripe for innovation. Governments in countries like Singapore, South Korea, and China have embraced the potential of blockchain and AI, creating supportive ecosystems for startups. As a result, crypto-AI startups in Asia have been growing at an unprecedented rate, leveraging the region’s advanced digital infrastructure, large pool of tech talent, and growing consumer base.

One of the main reasons for this boom is the forward-thinking approach of Asian governments. For instance, Singapore has created a regulatory environment that encourages innovation while ensuring consumer protection. Meanwhile, China has made massive investments in AI and blockchain technology, pushing the boundaries of what’s possible.

This combination of government support, a thriving tech ecosystem, and a large, eager market has laid the foundation for the rapid rise of crypto-AI startups in the region.

Disrupting the tech scene: Crypto-AI innovations

When you combine AI’s ability to analyse and predict with blockchain’s transparency and security, you get a powerful mix driving innovation across multiple industries. These startups are not just improving existing processes; they’re creating entirely new ways of doing business.

For example, in the financial sector, AI-powered crypto trading platforms are changing how assets are traded. These platforms use advanced algorithms to process vast amounts of data, predict market trends, and execute trades with incredible accuracy.

Also Read: Blockchain technology: Revolutionising global payment solutions and cross-border remittance

In supply chain management, companies combine blockchain and AI to create more transparent and efficient systems. Imagine being able to track a product from its origin to its final destination, verifying every step of the way to ensure it’s authentic and safe. This is especially important in industries like pharmaceuticals, where product integrity is critical.

Exploring the future: Asia’s leading crypto-AI startups

Some of the most exciting developments in the Crypto-AI space are coming from Asia. Here are a few startups that are leading the way:

• SingularityNET (China): SingularityNET is creating a decentralised marketplace where AI developers can share and sell their AI solutions. This open marketplace is not only fostering innovation but also making advanced AI technologies accessible to a broader audience.
• Fetch.ai (Singapore): Fetch.ai is building a decentralised digital economy powered by autonomous software agents. These agents can handle tasks like optimising energy grids or managing supply chains, all without human intervention, thanks to the combination of AI and blockchain.
• Perlin (Singapore): Perlin focuses on integrating blockchain technology with AI to provide secure and efficient enterprise solutions. Their platform helps businesses leverage AI insights while ensuring that the data used is secure and trustworthy.
• DeepBrain Chain (China): DeepBrain Chain is developing a decentralised AI computing platform that uses blockchain to manage and allocate resources. This makes AI training more efficient and cost-effective, which is crucial for startups and smaller companies.

These startups are just the tip of the iceberg, but they showcase the creativity and innovation that’s driving the crypto-AI sector in Asia.

Investment opportunities in crypto-AI ventures

As a venture builder with over 20 years of experience, I’ve seen many technological trends come and go. However, the convergence of cryptocurrency and AI is different. It’s not just a trend; it’s a paradigm shift. In Asia, where innovation is a way of life, crypto-AI startups are at the forefront of this shift, creating solutions that have the potential to change the world.

The future is here, and it’s being built in Asia. Whether you’re an investor, an entrepreneur, or simply a tech enthusiast, now is the time to pay attention to the crypto-AI revolution. The startups emerging from this region are not just shaping the future of technology; they’re shaping the future of our world.

The rapid growth of crypto-AI startups in Asia presents a wealth of investment opportunities. As these technologies continue to evolve, early investments in promising startups could lead to significant returns. Venture capitalists and investors are already taking notice, with substantial funding being directed toward these ventures.

What makes these startups particularly attractive is their potential to scale and disrupt traditional industries. The integration of AI and blockchain opens up new possibilities, from revolutionising financial services to creating more efficient supply chains. For investors, the key is to identify startups that not only have innovative technology but also a clear plan for turning their ideas into profitable businesses.

Government support and grants for AI startups

As the crypto-AI sector continues to gain momentum in Asia, several countries are offering financial support in the form of grants to encourage further innovation. These grants are designed to nurture the growth of AI startups, enabling them to develop cutting-edge technologies and compete on a global scale.

For instance, Singapore has launched various initiatives to support AI-driven innovation. Through programs like the AI Singapore initiative, the government has committed over SG$500 million (approximately US$370 million) to fund AI research, development, and startup incubation. These funds provide crucial support for startups, offering not only financial aid but also access to resources and mentorship.

In South Korea, the government has pledged over KRW 2.2 trillion (approximately US$1.9 billion) by 2025 to develop AI technologies. A significant portion of this funding is allocated to grants for AI startups, particularly those integrating blockchain into their operations, thereby positioning the country as a leader in the AI-blockchain fusion.

Japan is also investing heavily in AI, with the government committing over JPY 220 billion (approximately US$2 billion) towards AI research and development by 2025. Grants are available for startups focused on applying AI across various industries, from healthcare to manufacturing, driving innovation and ensuring Japan’s competitiveness on the global stage.

Meanwhile, China continues to be a major player in AI and technology development. The Chinese government plans to increase its spending on science and technology significantly, with a planned investment of 371 billion yuan (approximately US$52 billion) in 2024. This represents a 10 per cent rise from the previous year and is the largest increase in five years.

Also Read: Leveraging AI, big data and blockchain to build your dream home

These grants and government-backed initiatives are pivotal in the rapid advancement of AI technology in Asia. They not only provide much-needed capital for startups but also foster an environment of collaboration and innovation, further driving the growth of the crypto-AI sector.

The impact of blockchain technology on AI development in Asia

Blockchain technology is playing a crucial role in advancing AI development across Asia. The decentralised nature of blockchain allows for secure data sharing, which is essential for training AI models that require large datasets. By ensuring that the data used is accurate and tamper-proof, blockchain technology enhances the reliability of AI applications.

In financial services, AI-driven crypto platforms analyse trends, predict prices, and execute trades autonomously. DeFi platforms use AI to create efficient financial products, disrupting traditional institutions in Asia’s markets.

In supply chain management, AI predicts disruptions, while blockchain enhances transparency across logistics processes. This combination is especially vital in pharmaceuticals, ensuring product authenticity and preventing counterfeits.

In healthcare, AI analyses patient data, while blockchain secures sensitive information, improving personalised treatments. AI accelerates drug discovery, analysing data rapidly, while blockchain ensures a transparent development process.

These innovations are reshaping industries, driving efficiency, security, and innovation through AI-blockchain synergy.

Moreover, blockchain enables the creation of decentralised AI marketplaces, where developers can share their work and collaborate on projects. This is democratising AI development, making it accessible to more people, and speeding up innovation.

Conclusion

Asia is rapidly becoming the centre of innovation for crypto-AI startups, where the fusion of AI and blockchain is creating new possibilities and transforming industries. From finance to healthcare, these startups are not only disrupting traditional business models but also paving the way for the future.

For investors, entrepreneurs, and tech enthusiasts, the opportunities in this space are immense. While there are challenges, the potential rewards far outweigh the risks. As we look to the future, it’s clear that the integration of AI and blockchain will continue to drive innovation, with Asia leading the charge. The future is here, and it’s being built by the creative, ambitious minds behind Asia’s Crypto-AI startups.

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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 credit: Canva Pro.

This article was first published on August 20, 2024.

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In November 2024, SGX-listed live-streaming honcho 17LIVE Group announced the acquisition of 100 per cent of the outstanding shares of Japan-based N Craft Co to bolster the group’s V-Liver business segment.

Per a statement, both entities will collaborate to enhance the IP talent business, implement innovative initiatives, and jointly develop a new V-Liver production brand.

In this interview, 17LIVE CEO and Executive Director Jiang Honghui discusses more about the deal, the virtual live-streaming industry, and the group’s diversification of revenue streams.

Edited excerpts:

Virtual live streaming is a relatively recent phenomenon. How does it differ from traditional live streaming, and what factors have contributed to its popularity?

Virtual live streaming differs from traditional live streaming primarily in using avatars, digital characters, and immersive virtual environments.

Traditional live streaming typically involves streamers broadcasting in front of a camera, engaging directly with their audience through physical appearance, setting, and personality.

In contrast, virtual live streaming allows content creators to embody digital avatars that interact with the audience in a fully immersive and imaginative manner. This enables streamers to transcend physical limitations and create more dynamic interactions.

Also Read: 17LIVE acquires Japan’s N Craft to enhance virtual talent and content creation

The rise in virtual live streaming can be attributed to technological advancements, particularly in augmented reality (AR) and virtual reality (VR), which have enhanced the immersive experience.

Additionally, the increasing popularity of virtual influencers and gaming culture has significantly made virtual content more appealing to a broader audience.

High-quality content creators are an integral part of your business. What are the primary barriers to entry for new content creators looking to establish themselves in the live-streaming industry? How does 17LIVE work to reduce these barriers and ensure the right quality of content creators comes out on top?

New content creators often face significant barriers when entering the live-streaming industry. These include:

• The need for specialised equipment, such as high-quality cameras, microphones, and lighting.
• Technical skills required for streaming and content creation.
• The challenge of building an audience from scratch in a competitive space.

17LIVE works to reduce these barriers by offering an easy-to-use, technologically advanced platform.

For example, our “V-Mode” allows creators to use virtual avatars with minimal setup, eliminating the need for complex technical configurations.

Additionally, we provide extensive support through content creator development programmes, helping streamers build skills, grow their audiences, and enhance content quality. Through talent nurturing initiatives and strategic marketing, we ensure that high-potential creators can succeed and thrive on our platform.

One of the strategic pillars in your Forward Strategy is revenue diversification. Can you elaborate on the potential revenue streams under development outside of live streaming?

Revenue diversification is a critical component of our long-term strategy and a key pillar of our 17LIVE Forward Strategy. It enables us to build a sustainable business model beyond a single source of income.

One focus area is virtual IP and talent management. We are expanding our virtual influencer business through acquisitions like N Craft and Mikai. This includes creating and managing digital characters, known as V-Livers, who engage with audiences on multiple platforms.

Revenue opportunities include performance events, merchandise sales, and licensing of virtual characters for entertainment and commercial use. For instance, N Craft has over 100 V-Livers in its IP portfolio, while Mikai has 17 high-quality VTubers with millions of subscribers.

Could you elaborate on how you achieved operational efficiencies in the first half while pursuing revenue diversification? Could 17LIVE sustain these operational adjustments moving forward?

In the first half of 2024, we achieved operational efficiencies by streamlining internal processes, integrating advanced technology to automate key functions, and optimising content production. This approach reduced operational costs while allowing us to scale our operations.

Also Read: Streaming the dream: How live streaming technology can increase access to brands

The integration of acquisitions such as N Craft and Mikai has enhanced our content production capabilities and talent management processes, ensuring we can scale quickly and efficiently.

As part of our revenue diversification strategy, we invested in live commerce and virtual IP, requiring efficient operations to ensure profitability. Moving forward, we are confident these efficiencies can be sustained by leveraging technology and automation. Additionally, maintaining focus on high-impact revenue streams will help ensure a strong and sustainable financial position.

Live commerce is a growing segment of your business. Can you talk more about the potential you see in this segment? How much does it contribute to 17LIVE’s revenue in the coming year?

Live commerce combines live streaming with e-commerce, enabling creators to sell products directly to their audiences in real-time.

One key initiative is HandsUP Crossborder, a matchmaking service connecting key opinion leaders (KOLs) with merchants across different markets.

For example, Taiwanese KOLs collaborate with Japanese merchants to sell products to Taiwanese audiences. This cross-border approach expands market reach and creates new revenue streams for KOLs and merchants.

As we continue to expand and refine our live commerce offerings, we anticipate significant revenue contributions from this segment, capitalising on the growing trend of interactive online shopping.

There is a growing trend of Japanese virtual live-streaming platforms expanding globally. How does 17LIVE plan to differentiate its virtual live-streaming offering from competitors in Japan and Asia?

17LIVE stands out by integrating live streaming with virtual IP management. Unlike pure virtual IP houses that focus solely on developing and managing digital characters, we operate as both a live-streaming platform and a hub for V-Livers. This dual capability provides an ecosystem where content creators and virtual IPs thrive together.

Also Read: How AI, AR, and live streaming are changing the online shopping experience

Our platform enables Livers to build virtual identities while benefiting from our growing IP portfolio. Additionally, our offline events allow V-Livers to connect with audiences and celebrities, further elevating their stature. This comprehensive ecosystem positions 17LIVE uniquely in the market.

With a strong cash balance, what are the company’s topmost priorities for cash deployment?

With a strong cash position and zero debt, our top priorities include:

• Expanding virtual IP and talent management businesses, leveraging acquisitions like N Craft and Mikai.
• Enhancing our technology platform to stay at the forefront of live streaming innovation.
• Growing our live commerce initiatives, a major driver of future revenue.
• Pursuing regional and global expansion, particularly in Southeast Asia, where demand for virtual live streaming and live commerce is rising.

These investments align with our 17LIVE Forward Strategy to drive long-term value and sustained growth.

The post The future is virtual: Inside 17LIVE’s plans for avatars and immersive experiences appeared first on e27.

Soul Parking, an Indonesian parking technology company, has secured an undisclosed amount in a Series A extension round co-led by AC Ventures and AppWorks.

The round also saw participation from Taiwan Mobile, USPACE, and Wavemaker Ventures.

With the newly acquired funds, the startup plans to expand into new geographical areas and cities with high population densities, recruit new talent, enhance its product offerings, and invest in marketing to boost brand visibility and attract more users.

Also Read: For Soul Parking, fixing Indonesia’s two-wheeler parking issue is a walk in the park

The company intends to deepen its market coverage in existing areas and explore opportunities in the electric vehicle (EV) space.

“Soul Parking is actively collaborating with players in the EV industry to establish partnerships. The aim is to transform our parking locations into key infrastructure hubs for EVs, such as charging stations or battery swap facilities. This initiative aligns with the growing adoption of EVs in Indonesia and seeks to provide value-added services at our sites, ensuring convenience for EV users while supporting the country’s transition to sustainable mobility solutions,” co-founder Kenneth Darmansjah told e27.

Soul Parking aims to revolutionise traditional parking systems with its technology and provide a digital experience to property owners and drivers.

The startup offers various solutions, including Compact Motorcycle Storage (CMS), which provides portable, multi-level parking for two-wheeled vehicles, and the Soul Parking Operating System (OS), a cloud-based software that digitises existing parking structures. This OS provides real-time data analytics for both two- and four-wheeled vehicles.

The firm claims its technology can significantly increase parking capacity—by up to eight times—in dense areas, addressing a critical challenge in Indonesia’s urban centres.

In addition to optimising space, Soul Parking’s solutions also generate new revenue streams for property owners while ensuring that every parked vehicle is covered by insurance and each parking area is monitored by CCTV. Cashless payment options are available.

Ultimately, Soul Parking aims to contribute to the archipelago’s sustainable urban development by reducing congestion, lowering emissions, and enhancing the overall parking experience for drivers. It is also working towards addressing the widespread issue of illegal parking due to the shortage of spaces, which causes traffic congestion and economic losses.

The company says its vertical parking system, along with real-time tracking, optimises land use and enhances parking efficiency across Indonesia.

According to a press release, the company has already made significant inroads, with over 100 partners including property owners and management companies. It claims to process over 20 million parking transactions annually, and over two million vehicles have used Soul Parking’s systems since its inception.

Also Read: Indonesian smart motorcycle storage startup Soul Parking raises seed funding co-led by AC Ventures, Agaeti

The solutions are currently being used in diverse locations such as apartments, hospitals, commercial centres, recreational areas, and residential complexes.

Michael Soerijadji, founder and Managing Partner at AC Ventures, noted: “Through its innovative solutions, Soul Parking offers cost-efficient and accountable solutions to property owners, while providing a seamless experience to parking customers… Soul Parking operates at scale and is well-positioned to compete effectively in this growing market.”

 

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The Asian tech startup ecosystem is booming. Countries across the region are actively fostering innovation, cultivating talent, and encouraging the growth of new ventures. As these startups scale, many of them aim to establish a foothold in neighbouring markets with strong innovation hubs, such as Hong Kong. Known for its sophisticated financial systems, strategic location, and pro-business environment, Hong Kong serves as a gateway for tech startups seeking to expand across the Asia-Pacific (APAC) region and beyond. 

For ASEAN startups, entering a new market like Hong Kong presents an exciting opportunity but also comes with challenges. These include a lack of local market insights, achieving product-market fit, insufficient funding or business networks, and navigating regulatory and compliance hurdles. 

Recognizing these challenges, the Hong Kong Science and Technology Parks Corporation (HKSTP) launched the HK Sandbox Programme. Notably, it aims to help foreign startups seamlessly expand their businesses in Hong Kong and mainland China. It has also partnered with renowned universities in Hong Kong. Through it, the Programme provides startups with business consultation, critical resources, networking opportunities, and access to strategic partners. This enables them to scale, adapt, and thrive in Hong Kong’s vibrant ecosystem and the Greater Bay Area (GBA).

This initiative not only provides startups with invaluable insights and resources but also offers students hands-on learning experiences that can ignite their entrepreneurial spirit. Moreover, the programme aims to enhance Hong Kong’s innovation and technology (I&T) ecosystem through international collaborations. By creating a triple-win scenario, the Programme is poised to elevate the entire community, driving growth and innovation in the region.

Read also: Elite Global Inno Day: A game-changing launchpad for health innovation

ASEAN tech startups are exploring Hong Kong

Thailand, in particular, has emerged as a rising star within Southeast Asia. This is thanks to a combination of young entrepreneurs, government support, and increasing venture capital interest. Today, 16 Thai startups joined the Programme to strive to expand beyond their local border. In late October, 13 of them travelled to Hong Kong and had a week-long “Market Exploration Tour.” It provided networking opportunities and insights into scaling their businesses. They also participated in StartmeupHK Festival events organised by Invest Hong Kong (InvestHK).

Significantly, the programme works with universities to bridge the gap between the Thai startups and the dynamic Hong Kong environment. It partnered with two Hong Kong universities, The Hong Kong University of Science and Technology (HKUST) and The University of Hong Kong (HKU). Through this collaboration, the Thai startups will be receiving support from students on market entry strategies and recommendations. The end goal of the programme is to propel their entry into the Hong Kong market. Joseph Koc, advisor to Thailand Science Park, remarked, “The HK Sandbox Programme creates a mutually beneficial platform for both regions.” He also serves as Adjunct Associate Professor at the Department of Management, School of Business and Management of HKUST.

Koc elaborated that Thai startups receive quality recommendations from consulting teams made up of students from HKUST of local and international background to assess and better understand the Hong Kong market as part of a market entry strategy recommendations. “Reciprocally, this arrangement will bring to Hong Kong entrepreneurs fresh ideas and diverse perspectives when they settle in at HKSTP. By fostering this one-of-a-kind cross-border collaboration, this partnership will not only fuel innovation but also enhance the global competitiveness of both Thailand and Hong Kong,” he added.

Universities weigh in on the Sandbox Programme

According to Joseph Chan, Associate Director of the Centre for Innovation and Entrepreneurship of HKU Business School, “This collaboration between HKU and HKSTP through the Sandbox programme is a significant achievement. While the concept of academia, research, and industry collaboration is often discussed, this programme truly brings it to life.” He continued that engaging students in market validation and business strategic planning facilitates the commercialization of products and services developed by Thai startups to be implemented in HK and subsequently the GBA.

Chan added, “This initiative bridges geographic and cultural gaps, providing valuable practical training in design thinking for students, namely empathy, cross-disciplinary innovation, and iteration.  It establishes a solid foundation for their future endeavours in corporate settings or startups, enriching the innovation and entrepreneurship ecosystem in HK.”

Meanwhile, Joon Nak Choi, Adjunct Associate Professor, Department of Management, School of Business and Management of HKUST, noted the programme’s value for both startups and students, offering strategic advice to startups and hands-on experience for students, ultimately strengthening Hong Kong’s entrepreneurial ecosystem.

Choi said, “Startups receive strategic and tactical advice from our top students, which can be crucial for successful market entry. Meanwhile, students gain hands-on experience by working on real projects, motivating them to achieve more than they thought possible. This collaboration fosters Hong Kong’s entrepreneurial ecosystem and equips the next generation of professionals with essential skills for success.”

Two startups in Cohort 2, Chosen Digital and Swees Plant, aim to scale their greentech solutions to this larger market.

Advancing Innovative Energy Solutions

Chosen Digital focuses on providing innovative energy solutions, particularly in the electric vehicle (EV) and energy management sectors. According to Worapoj Chosen, Founder and CEO of Chosen Digital, “Hong Kong is a promising market for EVs as 50% of new cars are already electric. However, while Thailand is made up of mostly houses and villages, Hong Kong has more high-rise buildings. That is why we need to study the market and customise our solutions.”

Chosen Digital offers EV charging solutions compatible across ASEAN and AI-driven energy load management to prevent infrastructure overload. Its entry into Hong Kong and the GBA will mean making a positive environmental impact in one of the world’s busiest regions. In fact, Worapoj’s participation in the HK Sandbox Programme is driven by the passion to bring about a more sustainable future. This is true not just for Thailand but also for the rest of Asia.

“I don’t see it as a competition, I see it as a collaboration. There are many startups in this space and green is for everyone so we must work together,” he emphasises. Worapoj believes that the networking and market research opportunities provided by the programme will be instrumental in encouraging more businesses and even countries to make the switch to EVs.

Mainstreaming Plant-Based Non-Dairy Products

Swees Plant, another Cohort 2 participant, specialises in producing plant-based, dairy-free cheese. Positioned at the intersection of agritech and greentech, it is a leader in Thailand’s growing plant-based food sector. In fact, CEO Nicolas Frauenfelder shares that their products are available in all major supermarkets with over 250 outlets nationwide. They are working on making non-dairy products even more accessible by expanding their product lines and partnering with fast food chains. And now, they are hoping to replicate their success in Hong Kong and the GBA.

“We are already the leading manufacturer of plant-based cheese in Thailand. Our vision is to become the leader in this category in APAC,” shares Frauenfelder. He further explains that Swees Plant was attracted to Hong Kong for a number of reasons. First, there is a significant portion of the population who either practice vegetarianism full time or adopt a plant-based diet at least once a week. Second, younger generations are looking for healthier and more sustainable food alternatives. And third, it is a unique market with high spending power that also serves as a gateway to mainland China.

For Frauenfelder, HKSTP’s HK Sandbox Programme offers an exciting opportunity to build valuable local connections and gain critical market insights. It presents numerous avenues for growth, which the company is eager to pursue. Through this collaboration, the company aims to establish a solid presence in Hong Kong, foster strong relationships with HKSTP and other key stakeholders, and achieve a successful product launch by early 2025.

Read also: Transforming traditional business models with HKSTP’s Elite Programme

HKSTP is Empowering Tech Startups and Beyond

Chosen Digital and Swees Plant are just two of 16 ventures currently participating in Cohort 2 of HKSTP’s HK Sandbox Programme. Originally launched in 2023, the Programme was designed to help Thai startups explore growth opportunities in Hong Kong. In its first cohort, eight Thai startups joined HKSTP’s Ideation programme, where they engaged in activities to facilitate their entry into the Hong Kong and Greater Bay Area (GBA) markets. As a result, all eight successfully registered their businesses in Hong Kong.

The Programme draws overseas startups by offering end-to-end support as both a validation and landing partner throughout their entrepreneurial journey. This comprehensive support helps startups establish a foothold in Hong Kong’s dynamic ecosystem. As a result, they can navigate the local market with greater ease. The programme also includes project-based learning opportunities for university students. This gives them hands-on experience with real-world case studies. It also creates pathways to potential jobs within the innovation and technology (I&T) sector.

The programme’s impact so far proves that HKSTP’s holistic approach benefits startups, students, and the broader I&T community alike. It attracts tech startups and talents with high potential to join Hong Kong’s largest I&T ecosystem. Further, it reinforces the city’s role as a regional innovation hub. And it will continue to do so as applications for the next cohort are open until 15 January 2025.

“The HK Sandbox Programme utilises the local academic community to assist overseas startups in exploring markets in Hong Kong and the mainland, it is also designed to create a triple win for startups, students, and Hong Kong’s I&T ecosystem. The third cohort of the HK Sandbox Programme is now open for application, we welcome startups from Malaysia and Indonesia to collaborate with the top business students in the city, join our vibrant ecosystem, ignite collaborations and use Hong Kong as a springboard for accelerated growth,” concluded HKSTP Head of Startup Ecosystem and Development Derek Chim. 

For more information on how to apply for the HKSTP Sandbox Programme, visit this website.

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This article is produced by the e27 team, sponsored by HKSTP

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When a startup reaches its first hundred followers, likes, or email subscribers, founders often go in one of several directions:

• They push for paid ads to capitalise on early traction.
• They shift focus to scaling sales and user acquisition.
• They rush to boost social engagement metrics and personal branding.
  

The actual answer?

• None of the above.

Those who prioritise A, B, or C may miss out on a foundational growth opportunity. Instead, startups should focus on an essential element that is often undervalued in the early days: building a loyal and engaged online community.

The power of community marketing

Community marketing offers something that paid media and even product development cannot achieve on their own: emotional connection and advocacy. 

For startups, an engaged community means a built-in support system—people who won’t just purchase a product but who will champion it, offer feedback, and act as brand ambassadors. In a startup’s volatile early stages, having a community of passionate users can be the difference between fading into obscurity or scaling to the next level.

Why does this matter? Startups that lean into community marketing aren’t just chasing one-time sales; they’re building a relationship that drives customer retention, loyalty, and even brand equity over time. Building this connection doesn’t just benefit today’s bottom line; it lays the groundwork for sustainable growth.

Understanding community as a key metric

The key to effective community marketing lies in rethinking how success is measured. 

Rather than focusing solely on vanity metrics like follower count, startups should pay attention to community-driven KPIs—metrics that indicate genuine engagement and loyalty. These might include active participation in online forums, the number of users contributing feedback, or how often customers refer friends.

Also Read: Navigate in a cookie-less world, leverage AI and think community-first

For instance, a tech startup might launch a private Facebook group or Reddit community where users can connect, share insights, and discuss new features. Facilitating this space helps startups gain an inside look into customer needs and a direct line of feedback, creating a dialogue rather than a one-way pitch. This level of engagement cannot be bought; it is built through trust and shared experience.

In return, members of these communities feel valued. Their ideas contribute to shaping the product, turning a transactional customer relationship into an emotional one. This investment pays off long-term, as people are far more likely to remain loyal to brands they feel are “theirs.”

The shift from transaction to transformation

Community marketing is more than a transactional exchange. This mindset shift can be challenging for founders who are used to pushing sales metrics or short-term results. 

Imagine a wellness startup that, instead of merely promoting its product, launches an online support group where customers can discuss their wellness journeys. Here, the brand is no longer just selling; it’s enabling a shared experience. Members of the group are more likely to return for repeat purchases, recommend the product to friends, and—importantly—feel a greater loyalty to the brand. 

From fans to evangelists: The true impact of community marketing

Community marketing may not lead to rapid, overnight growth, and that’s okay. 

The goal isn’t to produce immediate returns but to cultivate long-term brand equity and customer loyalty. Startups that successfully leverage community marketing foster a sense of ownership among their users, who feel they’re part of something larger than themselves. 

For investors, this shift is powerful. It indicates that a startup has moved beyond chasing quick wins and is focused on cultivating a sustainable, loyal customer base. While the metrics may not show exponential growth right away, they indicate a company with staying power—one that values people as partners, not just purchasers.

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Let me paint a picture: You walk into your office, boot up your computer, and everything seems fine. But behind the scenes, hackers are quietly siphoning off data—your customer records, financial reports, and sensitive emails. Scary, right? The worst part? Your antivirus didn’t even notice.

This isn’t a sci-fi scenario. It’s happening right now worldwide, especially in Indonesia. We’ve seen data leaks from big companies and even government agencies. When these breaches occur, guess what? It’s their customers’ data—or worse, our data—that ends up sold online.

So, why are we still treating antivirus software like a magic shield?

The evolution of cyber threats: Outdated tools vs modern hackers

Antivirus was a lifesaver in the early 2000s, when threats were simpler: file-infecting viruses, worms, and spyware. But today’s hackers have moved on. They’re armed with AI, automation, and a new playbook of tricks.

Imagine this:

• AI-powered email scams: These aren’t your typical “Nigerian prince” emails. They’re hyper-personalised messages that mimic your writing style, your boss’s tone, or even your friend’s quirks. One wrong click, and it’s game over.
• Ransomware that thinks: Hackers can now create malware that evolves. If an antivirus blocks one version, it adapts and attacks again. It’s like playing chess with a grandmaster who predicts your every move.
• Silent breaches: Hackers don’t always crash your system. Sometimes, they stay hidden for months, stealing data bit by bit.

Meanwhile, many Indonesian companies are still stuck in 2010, thinking a basic antivirus is enough to protect them.

Why Indonesia is a hacker’s goldmine

Indonesia has become a hotbed for data breaches. Why? Because so many companies think they’re “not tech companies” and don’t prioritise cybersecurity. But let’s be real: if you’re storing customer data, managing servers, or using email, you’re a tech-dependent business.

Here’s the kicker: when a company gets hacked, it’s not just their problem. It’s ours too. We’ve all seen cases where leaked government data ends up on the dark web, exposing millions of citizens to scams and identity theft.

Also Read: 5 reasons why startups should get a managed cyber security service provider

One example: a certain public company suffered a massive leak. Millions of Indonesian ID numbers, phone numbers, and addresses were dumped online. Now, scammers have a field day, and people like us pay the price.

The real cost of ignoring cybersecurity

You might think, “But cybersecurity is expensive!” Sure, it’s an investment. But the cost of doing nothing is even higher:

• Financial loss: Ransomware can shut down operations for days, leading to lost revenue.
• Reputation damage: Customers lose trust when their data gets leaked.
• Legal consequences: With regulations like GDPR or Indonesia’s PDP law, companies can face fines for failing to protect personal data.

It’s like skipping insurance for your house because you think a fire will never happen. When disaster strikes, it’s too late to regret.

How we can fix this

I’m not an IT expert, but here’s what makes sense to me:

• Upgrade your defences: Antivirus is just one piece of the puzzle. Companies need firewalls, intrusion detection systems, and AI-powered cybersecurity tools to stay ahead.
• Train your team: Even the best security tools can’t fix human error. Employees need to know how to spot phishing attempts and follow security protocols.
• Have a plan: Breaches will happen. What matters is how fast you respond. Companies should have an incident response plan ready to minimise damage.
• Work with experts: Don’t go it alone. Managed security providers or cybersecurity consultants can help build a strong defence system.

It’s time to take cybersecurity seriously

Here’s the bottom line: hackers aren’t slowing down, and antivirus isn’t enough. If Indonesian companies don’t step up, data leaks will keep happening, and more people’s personal information will be exposed.

Let’s stop pretending we’re safe just because we’re not a tech company. In 2025, every business is a tech business. Protecting data isn’t optional—it’s our responsibility.

So, to all the business owners out there: Don’t wait until it’s too late. Start investing in cybersecurity today.

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Two drinking water fallacies are common. Safe drinking water is a problem that has been solved. In an age when your smartphone has millions of times the computing power that was on board the Apollo spacecraft and AI provides answers to complex questions in seconds, it is hard to imagine that 2.2 billion people lack safe drinking water. But they do.

If safe drinking problems remain, they must be in villages. In fact, with population growth outpacing water infrastructure improvements in developing world cities, the resulting urban challenge  is eclipsing the rural challenge.

For illustration, consider Freetown, Sierra Leone. The city’s water supply system was originally designed to serve 500,000 people. The city’s population is now three times that amount, resulting in intermittent service to most customers. Combined with the fact that losses between the water supply intake and customers exceed 45 per cent, the system is woefully inadequate to meet current demands and is falling further behind each year.

Intermittent service is common and one of the primary reasons for the growing challenge of providing safe drinking water to people in cities. Studies have documented that intermittent service results in compromised microbiological quality. Even if the water leaving a city’s central treatment plant is free of pathogens, the microbial quality is questionable when it reaches the faucet. In Freetown, it has almost certainly contributed to waterborne disease: the city experienced nine documented cholera outbreaks from 1970 through 2012, causing thousands of illnesses and deaths.

The story is the same, whether in Freetown, Mexico City, or Laos. Cities face huge obstacles in ensuring the reliable delivery of safe drinking water to their residents and in too many cases, cannot succeed.

Household water treatment is essential to solving the problem

The answer today and the foreseeable future is household water treatment. People collect water from their faucets (if they’re fortunate) or from neighbourhood taps, and then provide their own treatment to deal with the potential of microbiological contamination.

And what treatment approach is most commonly used? Boiling. Some people have electricity in their homes and can use an electric boiling kettle. Many people don’t and they boil their water over an open cookstove, probably using charcoal as the fuel. Even for those with electricity, service has frequent interruptions and they resort to using a charcoal cookstove or simply drinking untreated water for a period.

It’s a health problem. It’s also a climate problem. By our best estimates, more than one billion people worldwide practicing household water treatment do so by boiling. Boiling works. It eliminates pathogens. But it works at the expense of high energy use and high carbon emissions.

Also Read: Funding the green transition: Southeast Asia’s climate tech leaders of 2024

The result is a significant source of carbon emissions: worldwide boiling contributes 107 million tonnes CO2 equivalent per year, which represents about 0.3 per cent of total greenhouse gas emissions. It’s not the largest source, but it’s obviously a meaningful source.

Why boiling? Why not filters? It comes down to money and convenience. Filters can be expensive. The use of household filters often requires two water containers; one mounted higher with the untreated water and a lower one to capture treated water. They produce clean water at a slow rate.

All these factors make them inconvenient, especially if your children are thirsty now and there’s no clean water left. This is a health downside to boiling as well. When the boiled water is exhausted and it’s in the middle of a hot day, the family drinks whatever is available. Inconvenience translates to negative public health outcomes.

There is a better solution than boiling

There is a hopeful solution being developed by a small group of engineers and scientists (and a doctor and even a philosopher), mostly located in Northwestern US. The group has developed a household water treatment product that offers convenience and affordability. They built and proof-tested an early version and conducted field trials in Kampala to garner customer feedback. They are currently seeking funding to finalise a production-ready version and begin marketing it.

The product looks like an electric boiling kettle but instead of heating water to kill pathogens, it uses ultraviolet (UV) LEDs to do the job. When a family has electricity, it only requires the push of a button and a three-minute wait, and there is a container of safe drinking water ready for use (with no delay waiting for it to cool).

If the electricity is out, it operates from a rechargeable battery and can do so for several cycles. Furthermore, because water quality varies from city to city or day to day,  a UV sensor in the product adjusts the treatment cycle to ensure adequate treatment.

Also Read: The water crisis in Asia: How technology can make a difference

As a replacement for boiling, it greatly reduces carbon emissions. It is safer because the risk of children being burned by a fire is eliminated. It contributes to public health because a family can treat batch after batch of safe water throughout the day and therefore is not left to use whatever water they can find. It saves money over buying electricity or charcoal to boil water and with the potential for carbon credits, the cost savings to families multiply.

A problem with a solution

It’s easy to take safe drinking water for granted. It’s hard to imagine that safe drinking water remains elusive for millions in cities around the world. And it’s doubly hard—frustrating—to imagine those truths when there’s an answer such as our UV water treatment kettle so close to becoming reality.

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Fintech is seeing a lot of change, with new business models constantly emerging and old ones being improved. Regulators need to adapt to these innovations, and businesses need to understand how they work in the real world.

This is where regulatory sandboxes come into play. These are used by a wide range of industries—not just fintech—to test products, services, or business models without being subject to the usual regulatory requirements. The purpose is to drive innovation while keeping risks to consumers and the financial system relatively low.

In this article, we’ll examine some common characteristics of regulatory sandboxes, with a focus on the Asia-Pacific (APAC) region, and determine whether it’s worth participating in them.

APAC’s regulatory sandbox

In 2020, there were approximately 73 sandboxes in 57 jurisdictions; APAC had 19 of them. In 2023, there were 20 sandboxes in the SEA-6 region alone (that’s Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). This indicates significant adoption of this regulatory approach in APAC.

Successful fintechs have previously participated in APAC’s regulatory sandboxes. This includes Singapore-based regulated decentralised security token trading platform, DigiFT, which was granted access to the MAS’ regulatory sandbox to become the first licensed decentralised security token exchange. Another example is BondBlox — the first blockchain-based bond exchange, which also participated in Singapore’s MAS sandbox.

Also Read: Sandboxes and diversification: Why the UAE believes in light-touch regulation for AI development

Here’s a more detailed breakdown of the APAC sandbox landscape:

• On March 12, 2024, the Hong Kong Monetary Authority (HKMA) unveiled the Stablecoin Issuer Sandbox. Participants may include any entity interested in issuing fiat-referenced stablecoins in Hong Kong.
• On March 4, 2024, the State Bank of Vietnam published a draft decree on a regulatory sandbox for the banking sector, including fintech solution providers. Participants may include credit institutions, foreign bank branches, fintech companies, and other organisations. The specific fintech solutions that are allowed to be tested include credit scoring, sharing data via an open application programming interface (Open API), and peer-to-peer lending.
• On February 19, 2024, Indonesia’s passed Regulation Number 3 of 2024, concerning the Implementation of Financial Sector Technology Innovation. Among other things, it contains provisions regarding a sandbox issued by the Indonesian Financial Services Authority (OJK). As such, OJK regulations specify that participants may consist of Financial Services Institutions (FSIs) and/or other parties who intend to carry out activities in the financial sector. The covered areas include settlement of securities transactions, raising capital, investment management, risk management, collecting and/or distributing funds, activities related to digital financial assets, including crypto assets, and other digital financial services activities.
• On April 26, 2024, the Philippines Security Exchange Commission (SEC) issued rules for a strategic sandbox (StratBox) designed to facilitate the testing of innovative financial products and services. The SEC specifies that the “Participant” may be an entity that is “duly registered with the Securities and Exchange Commission and has been assessed as eligible to take part in the SEC Regulatory Sandbox”. The SEC will post sandbox activity guidelines on its website, which will include eligible activities and innovations.

* This list is not exhaustive.

Regulatory sandboxes: Intended purpose

As Darryl Chan, a Deputy Chief Executive of HKMA said, “a sandbox is a box filled with sand that allows children to play and unleash their creativity within a confined space and under a safe environment.” In other words, sandboxes allow businesses to experiment with their new products, services, or business models. This gives them the ability to  test things out in the real world under the supervision of regulatory authorities for a limited period of time.

For instance, the HKMA Stablecoin Issuer Sandbox Arrangement, serves as a channel for both the HKMA and the fintech industry to exchange views on the proposed regulatory regime for stablecoin issuance and facilitate the formulation of fit-for-purpose and risk-based regulatory requirements.

Regulatory sandboxes also help improve a product or service with feedback and speed up integration. Meanwhile, regulatory authorities can identify gaps in regulation.

Here’s how the HKMA and State Bank of Vietnam define the purposes of their regulatory sandboxes:

Support the development of virtual asset ecosystem in Hong Kong; Communicate our supervisory expectations and guidance on compliance to parties and/or entities having genuine interest in and reasonable plan on issuing fiat-referenced stablecoins in Hong Kong, with a view to facilitating the subsequent implementation of the proposed regulatory regime for stablecoin issuers in Hong Kong; Obtain feedback from the sandbox participants on the proposed regulatory requirements to ensure that the regime is fit-for-purpose when implemented; To the extent appropriate, develop and promote good practices in key control areas (e.g. reserves management and stabilisation, governance, user protection, AML/CFT, data transparency, etc.).

To promote innovation and modernisation of the banking sector, thereby realising the goal of financial universalisation for people and enterprises in the direction of transparency, convenience, safety and efficiency at low cost. Create a test environment to assess risks, costs and benefits of Fintech solutions; support the development and development of Fintech solutions in accordance with market needs, legal framework, and management regulations. Limiting risks to customers when participating in using Fintech solutions participating in trials that have not been prescribed in the legal framework and official management regulations. The results of trial implementation of Fintech solutions shall be used as a practical basis for competent state agencies to formulate and complete relevant legal frameworks and management regulations.

Participating in sandboxes does not mean that participants will be automatically granted a license—or that they are officially recognised or endorsed by regulators.

Also Read: Why Singapore is ASEAN’s sandbox for innovation in healthtech

Conditions of participation

To join a sandbox, organisations should pass an assessment—which, among other conditions, includes the following:

• Novelty assessment: Evaluates whether the proposed product or service should include new or emerging technology or uses existing technology in a novel way (e.g., Philippines SEC sandbox, State Bank of Vietnam proposed sandbox, OJK sandbox);
• Usefulness assessment: Evaluates whether the product or service provides benefits, improves services, and adds value to consumers, society, and/or the financial sector ecosystem (e.g., Philippines SEC sandbox, State Bank of Vietnam proposed sandbox, OJK sandbox);
• Viability assessment: Evaluates whether the organisation has the intention and ability to deploy the proposed services or products after successfully exiting the sandbox (e.g., Philippines SEC sandbox, HKMA Stablecoin Issuer Sandbox, State Bank of Vietnam proposed sandbox);
• Real interest and testing possibility assessment: Evaluates whether a testing plan with test scenarios and expected outcomes of sandbox experimentation are clearly defined (e.g., Philippines SEC sandbox, State Bank of Vietnam proposed sandbox, HKMA Stablecoin Issuer Sandbox).

For more detailed entry conditions, see the relevant act/regulations/decree.

Conclusion

The effectiveness of a regulatory sandbox depends on three key factors:

• The extent to which it encourages participation;
• Whether it actually stimulates innovation;
• How transparent they are for those involved. This largely depends on open, ongoing  communication  dialogue between regulators and sandbox participants.

For companies focused on developing a new product or service, but need to test a few hypotheses first, a sandbox can be a good option—but only if the sandbox itself is set up properly. Therefore businesses seeking to participate in a sandbox should closely consider whether the three factors mentioned above are properly facilitated.

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