Modern business logic tends to favour the bigger, the faster, the more resource-rich. That often applies, but in Asia—a region of diverse economies with a shared push for digitalisation—it doesn’t tell the whole story. Here, small and medium enterprises (SMEs) thrive in a digital economy defined as much by agility as by size.

Across Asia, SMEs make up a staggering 99 per cent of all enterprises. They aren’t just prevalent—they are engines of employment, responsible for over 60 per cent of jobs in the region, according to the ASEAN SME Policy Index (ASPI) for 2024.

More striking still is the contribution these SMEs make to the digital economy: 35–45 per cent of gross domestic product (GDP), a proportion that will only grow as SMEs continue their digital transformation. In fact, 90 per cent of SMEs are projected to reach basic digital intensity by 2030, driven by national initiatives like Singapore’s SMEs Go Digital program and Malaysia’s Digital Economy Blueprint.

Why such prominence? Partly because Asia’s vast diversity demands it. While large corporations can address broad market needs, SMEs are far better equipped to serve the specialised demands of specific regions. For example:

• Banking and finance: In the Philippines, underserved rural communities require banking solutions tailored to their unique financial circumstances. These solutions often involve micro-finance platforms and mobile banking innovations to serve those without access to traditional financial services—drastically different from the high-end banking infrastructure set up by major institutions in Singapore, a global financial hub.
• Agriculture: Indonesia’s agri-food sector provides fertile ground for SMEs to fill crucial gaps. From IoT-powered fish farms to drone-assisted crop management, these innovations help modernise farming, enhancing productivity and sustainability. Yet, due to the sheer diversity of needs, these opportunities often slip past larger companies. And while effective on a local scale, such technologies aren’t always scalable—they can be irrelevant in places like Singapore, where agriculture is nearly nonexistent in its urban sprawl.
• Telecommunications: In Asia’s most remote regions, 5G is a distant dream due to a lack of basic telecom infrastructure. For those living off the grid, SMEs can offer creative alternatives like laser communication systems, bypassing traditional infrastructure to deliver reliable connectivity. It’s a niche need that large telecom companies often overlook, but one that SMEs are uniquely positioned to address.

Also Read: Small steps, big impact: How SMEs can champion ESG initiatives

These are just a few examples that underscore one of the key advantages SMEs have over their larger counterparts: agility and speed. Larger firms, with entrenched processes and hierarchies, often struggle to pivot quickly. SMEs, with leaner structures, are more nimble, able to iterate and innovate rapidly—an essential trait in a region where digital literacy is advancing as fast as demographic shifts.

Despite their contributions, SMEs across Asia face formidable challenges. The ongoing funding winter has slowed access to growth capital, while economic pressures push larger companies into spaces once dominated by SMEs. Moreover, the very nature of SMEs—small, resource-constrained, and often sector-specific—makes them vulnerable to external shocks, be it pandemics, trade tensions, or economic downturns.

Still, there is a silver lining. From a policy perspective, governments are increasingly recognising the strategic importance of SMEs. Initiatives like ASEAN Access aim to enhance internationalisation opportunities, while a surge in business shows and tech events focused on SMEs reflects grassroots momentum.

One of these events is GITEX Asia, set for April 23–25, 2025, at Marina Bay Sands in Singapore. Expected to be among the biggest tech events in Asia, GITEX Asia promises to dive into the ongoing conversation about shaping the next wave of innovation for startups, SMEs, and more.

Individually, SMEs may be small, but collectively, they form the backbone of Asia’s digital economy—proof that bigger isn’t always better.

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Since joining Docquity a year and a half ago, my journey has been marked by a relentless pursuit to support healthcare professionals across Southeast Asia with digital solutions built around:

• Education
• Community
• Productivity and growth tools
• Employment opportunities

The healthcare sector is a realm of immense potential.

Yet, every opportunity must be approached with precision and care, considering the profound impact on human lives.

Navigating this industry presents challenges, especially given the stringent compliance and regulatory landscape.

However, the silver lining is the industry’s accelerating shift towards digitalisation.

Our recently published report, Docquity Pulse Check 2023: Decoding a Doctor’s Learning and Engagement Habits, is a testament to this transformation.

The insights from this report have been a beacon of encouragement for my fellow startup founders in healthcare, offering tangible evidence of the industry’s significant strides toward a digital future.

The digital learning paradigm

The report reveals that 91.1 per cent of Southeast Asia’s doctors continue to participate in digital learning events, with the frequency of attendance at these digital events being notably higher (3.9 times per month) compared to in-person events (3.0 times per month).

This inclination towards digital learning is prevalent among both identified learning cohorts—digital dominant and in-person dominant learners, each displaying unique engagement behaviours but converging in their participation in digital learning.

Also Read: Revolutionising healthcare in Vietnam: The reality of healthtech unveiled

Digital healthcare evolution

The alignment of digital healthcare’s growth trajectory with doctors’ learning habits is a testament to the evolving healthcare landscape in the region. The majority of the region’s doctors (65.9 per cent) prefer to participate digitally in hybrid learning contexts, driven significantly by the convenience of on-demand content, with more than half (52.9 per cent) of doctors favouring digital learning due to their overwhelmed schedules.

Impact on the health tech ecosystem

These findings are exhilarating for the entire health tech ecosystem of Southeast Asia. The irreversible digitalisation of healthcare and the substantial market share of digital indicate a ton of opportunities for companies to innovate and improve the quality of doctor interactions.

The nuanced preferences in learning styles and the balanced approach to industry outreach, blending digital and in-person interactions, are crucial clues for shaping the future of health tech in the region.

Peer-to-peer digital networks

The emergence of digital peer-to-peer networks as vital support systems, with 48.4 per cent of doctor interactions in the region occurring virtually, is indicative of the multifaceted role of digital platforms in professional exchanges and social support.

These interactions are reflective of the diverse needs of the healthcare workforce and are crucial in alleviating the stress of strained healthcare workforces.

In summary

The findings from the Docquity Pulse Check 2023 report are quite insightful, providing a glimpse into the future of the health tech ecosystem in Southeast Asia.

The prevailing digital learning preferences, the rise of digital peer-to-peer networks, and the alignment of digital healthcare growth with learning habits are exciting developments, signalling a promising future for health tech innovations in the region.

By embracing these insights, the health tech ecosystem in Southeast Asia is poised to shape and lead the future of healthcare and education in the region.

To delve deeper into the survey insights and to explore more about the evolving learning habits, peer-to-peer interactions, and opportunities for industry engagement in the health tech ecosystem of Southeast Asia, access the full report here.

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This article was first published on October 2, 2023

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Web3 has emerged as a game-changer, promising a decentralised, user-driven internet. But what lies ahead for this transformative technology?

As we move toward 2025, Web3’s potential to redefine industries, reshape economies, and empower individuals continues to unfold. Yet, challenges around scalability, security, and adoption remain.

Explore the opportunities, hurdles, and the exciting road that Web3 is paving for the future.

What is Web3?

Web3 is the buzzword reshaping conversations about the internet’s future. Often described as the third generation of the internet, Web3 aims to build a decentralised, user-centric ecosystem, putting individuals at the core of digital interactions. 

“Web3 is becoming the collective term for blockchain, crypto, decentralisation & hope for a better internet,” says The Alternative UK, reflecting the optimism around this transformative paradigm.

At its core, Web3 introduces key elements that define its vision:

• Decentralisation: Power shifts from centralised authorities to distributed networks.
• Blockchain: The backbone enabling transparency, trustless transactions, and immutability.
• Smart contracts: Self-executing programs that eliminate the need for intermediaries.
• Tokenisation: Digital assets that drive new economic models and enable innovation.
• User sovereignty: Ownership of data, identity, and digital assets remains with individuals, fostering privacy and independence.

Matt Weatherall, Incubation Lead at RADAR, aptly notes, “Web3 is still very much in its formative years. It’s not clearly defined; it’s a work-in-progress.” This underscores both the immense potential and the evolving nature of Web3 as it continues to take shape.

By 2025, Web3 could become the defining framework for a new digital economy, unlocking opportunities across industries and fundamentally altering how we interact online. It’s not just an upgrade—it’s a movement toward a more democratic and equitable internet.

Web3: Evolving the network economy

Web3 is not just a technological upgrade; it represents the next phase in the evolution of the Network Economy—a megatrend defined by decentralisation, collaboration, and digitalisation. The global Web3 market, valued at US$2.25 billion in 2023, is projected to grow at an astonishing CAGR of 49.3 per cent from 2024 to 2030, according to Grand View Research.

To fully grasp Web3’s potential, it’s crucial to situate it within the broader context of the Network Economy, which has been reshaping industries over the past decade. The Sharing Economy, with platforms like Airbnb and Uber revolutionising the way resources and services are shared. These systems bypass traditional structures in favour of peer-to-peer networks, enabling greater efficiency and accessibility.

Similarly, crowdsourcing and collaborative models, exemplified by Wikipedia, highlight the immense power of collective intelligence. By pooling resources and knowledge from diverse communities, these platforms have transformed how problems are solved and information is disseminated.

While the Network Economy has thrived, it still relies on intermediaries—be it companies like Uber or banks facilitating transactions. Web3 takes this further, eliminating intermediaries through blockchain and decentralised technologies.

By leveraging Web3, users gain direct control over their assets, data, and interactions. No longer must they rely on a central authority to mediate transactions or validate ownership. Instead, decentralised systems offer transparency, security, and autonomy, empowering individuals to fully participate in a distributed digital economy.

Also Read: How Web3 will revolutionise borderless banking in Southeast Asia

Web3 doesn’t just evolve the Network Economy—it redefines it, laying the groundwork for a truly decentralised, user-driven future. As blockchain and decentralised applications gain traction, we are witnessing the emergence of a new paradigm where ownership, collaboration, and value creation align seamlessly with the principles of the digital age.

Blockchain: The magic that makes Web3 a reality

Blockchain has added crucial elements to Web3, transforming it into a groundbreaking evolution of the current model.

• Trustless systems: One of blockchain’s most powerful features is its ability to facilitate transactions without relying on trust between parties. Thanks to encryption and the transparency of distributed ledgers, blockchain enables seamless exchanges where intermediaries are no longer necessary.
• Transparency and immutability: Blockchain ensures that every transaction is publicly verifiable. Once data is recorded on the blockchain, it is immutable, meaning it cannot be altered or deleted. This guarantees the integrity of the data and builds a foundation of trust in digital ecosystems.
• Programmable money: With blockchain technology, cryptocurrencies like Bitcoin and Ethereum are not just digital currencies—they’re programmable. This means transactions can be automated without the need for third parties, streamlining processes and reducing costs.
• Smart contracts: These self-executing contracts automatically enforce the terms of an agreement, eliminating the need for intermediaries and reducing transaction costs. By doing so, they enhance efficiency and help foster trust in decentralised environments.
• Digital assets: With blockchain, digital assets such as cryptocurrencies and NFTs (Non-Fungible Tokens) have gained mainstream traction. These assets allow individuals to own and trade values directly, cutting out traditional intermediaries and giving users more control over their digital wealth. This surge in digital assets is directly linked to the rise of crypto wallets as more individuals seek to engage with these assets.

According to Consensys, by 2024, over half the populations in countries like Nigeria (84 per cent), South Africa (66 per cent), Vietnam (60 per cent), the Philippines (54 per cent), and India (50 per cent) are reported to own a crypto wallet. This reflects a growing global interest in blockchain-based assets.

In the Americas, the US leads with 43 per cent, and Turkey stands out in Europe with 44 per cent. This widespread adoption of crypto wallets showcases how blockchain’s capabilities in securing, managing, and enabling digital assets are empowering users worldwide, giving them more control over their financial futures.

Blockchain is not only enhancing trust; it is enabling Web3 platforms to expand beyond traditional sectors, leading to the creation of innovative applications across multiple industries. As these technologies continue to mature, we’re only beginning to see the transformative potential of Web3.

Web3 security: The key to a trustworthy decentralised future

As Web3 technologies continue to evolve, ensuring robust security is becoming a critical component for the sustainable growth of blockchain networks, smart contracts, and decentralised applications (dApps). 

Web3 security is rapidly gaining momentum as one of the most crucial fields in the Web3 ecosystem. Over 200 companies are currently dedicated to securing blockchain networks and decentralised applications, employing more than 5,000 professionals.

The sector’s growth rate of 153.11 per cent highlights the increasing demand for advanced security measures to support Web3’s scalability and longevity. This exponential growth emphasises the pivotal role that Web3 security will play in realising the potential of decentralised technologies and protecting users’ assets and data.

Also Read: How to scale voluntary carbon markets with DeFi and Web3

Kitty Horlick, COO of Rarilabs, articulates a transformative shift in Web3 security, “Self-sovereign identity, where users have full ownership over their personal data, will empower people to engage securely across dApps without relying on centralised identity providers.” This fundamental change in how identities are managed will not only foster greater participation in decentralised governance and digital economies but will also unlock new opportunities for individuals to control their digital presence across platforms.

The integration of secure self-sovereign identities allows users to interact with social media, gaming platforms, and productivity tools without depending on centralised servers. This decentralisation enhances privacy, security, and autonomy, aligning with Web3’s overarching goals of providing user-centric platforms that prioritise control and freedom over personal data. As the Web3 ecosystem continues to scale, the evolution of Web3 security will be instrumental in building a safe, trustworthy, and user-friendly decentralised internet.

The convergence of DeFi and fintech in 2025

Web3 is fuelling the rapid growth of decentralised finance (DeFi), which promises to revolutionise the financial landscape by offering services without intermediaries such as banks. While DeFi is still in its early phases, it has already made significant strides, with more than 170 companies and over 9,000 professionals dedicated to improving wallet security and enhancing the user experience.

The annual growth of DeFi wallets, at 79.17 per cent, underscores their increasing importance in the broader Web3 ecosystem. These wallets are not only secure platforms for managing digital assets but also act as gateways to decentralised financial services like lending, borrowing, and yield farming, all without the need for traditional financial institutions.

This evolution could democratise financial services, offering greater access to capital and opportunities for individuals who have historically been excluded from the traditional banking system. DeFi has the potential to break down barriers to financial inclusion, providing a more accessible and open financial ecosystem for users worldwide.

June Ou, CEO of Provenance Blockchain, captures the momentum of this transformation, “2025 is the year DeFi takes off its training wheels and rides straight into the fintech fast lane. For too long, DeFi’s been that brilliant-but-awkward kid in the corner — full of potential but too complicated and a bit intimidating for the average person. That’s all about to change. Next year, we’ll see fintech and DeFi collide in a way that’s impossible to ignore.”

As the convergence of DeFi and fintech accelerates, the landscape is poised for dramatic change. In 2025, DeFi will evolve beyond its experimental phase, becoming a mainstream player in the financial sector. This intersection promises to simplify and democratise financial services, offering users a seamless experience and a wealth of new opportunities to engage with decentralised finance.

In conclusion, Web3 is more than just a buzzword—it’s a transformative force that has the potential to redefine how we interact with the digital world. As we approach 2025, the opportunities it presents for decentralisation, user sovereignty, and innovation are undeniable. However, the journey to mainstream adoption is not without its challenges, including scalability, security, and regulatory hurdles.

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Artificial Intelligence (AI) is reshaping industries, changing how businesses operate and innovate. For startups and small and medium-sized enterprises (SMEs), AI offers a chance to compete on equal footing with larger organisations. By delivering data-driven insights and automation, AI drives growth and streamlines operations. This special series by e27 highlights how SMEs are leveraging AI to adapt to today’s fast-paced business environment.

In this instalment of e27’s AI Leader Content Series, James Chisham, Vice President of Product Management at Oracle NetSuite, shares insights on why SMEs need to embrace AI, strategies for overcoming adoption challenges, and how this transformative technology can level the playing field for smaller businesses.

How AI transforms SME operations

AI’s potential lies in its ability to make businesses smarter, faster, and more efficient. For SMEs, this means automating routine processes like data entry, enabling employees to focus on higher-value tasks. AI-powered insights also allow businesses to make data-driven decisions, from forecasting sales to identifying market trends.

Customer engagement is another area where AI excels. Tools like generative AI chatbots and machine learning (ML) models deliver personalised, human-like interactions, enhancing customer satisfaction and loyalty. These innovations enable SMEs to scale their customer service efforts without massive overheads, ensuring they remain agile and competitive.

By automating repetitive tasks, streamlining workflows, and delivering personalised customer interactions, AI empowers SMEs to compete on a level playing field with larger enterprises. Modern AI tools integrate seamlessly into existing systems, making adoption smoother than ever. For SMEs, embracing AI isn’t just about keeping up—it’s about unlocking growth and staying ahead.

Why SMEs hesitate to adopt AI

AI has the power to revolutionise industries, yet many SMEs hesitate to adopt it due to some concerns about cost, complexity, and safety.

The number one thing still is lack of understanding. There’s been such an avalanche of AI information and how it can do all these wonderful things. Because an SMEs primary focus is running their business, then they start thinking: do we assign people to look at this specifically? Do we divert them away from important work to look at it? And then you get into the realms of do we need data scientists and people to manage data and things,  all of a sudden that’s a heavy lift for them. So, I think there was definitely a big learning curve.

I think the other thing that we see commonly is that we have lots of organisations cropping up building businesses around AI itself. So, they’ll have these people knocking on their door saying “wow, look at us! Great capability.” And again, you have to weigh that up in terms of understanding what that solution does and if there’s an additional cost, and then that makes that difficult as well.

Thirdly, there was a lot of talk around what AI will generate for you. Can we rely on that? Do we feel safe in entrusting our business data to an AI machine? Because you want your data secure, only accessible by you. You want your model running on your data, you want to be sure about the results that it’s bringing back.

Also read: Are we stressing ourselves out amidst AI adoption

…and why they shouldn’t

While not fully unfounded, there are many ways that SMEs can challenge and work around these misconceptions. Technological advancements have democratised AI, offering tools that are cost-effective and easy to use. SMEs can now adopt AI solutions without overhauling their operations or hiring dedicated data scientists.

Adopting AI doesn’t have to be overwhelming. SMEs should start small, focusing on targeted proof-of-concept projects to test AI’s potential in specific areas of their operations. Establishing clear goals and measuring ROI ensures that these early efforts deliver value and build confidence in scaling further.

By leveraging modern tools with built-in AI capabilities, SMEs can quickly achieve tangible benefits without the burden of high costs or complexity. This approach allows businesses to integrate AI into their workflows naturally and sustainably.

How Oracle NetSuite weaves AI into their systems

The one thing that we’ve done as a business at Oracle NetSuite is looked at our technology from the ground up. In terms of the way that our users consume AI, we want to have it in the fabric of the workflows, of the things that they do every day. We call it advise and assist. So, advise is delivering insights and assist is delivering productivity. Certainly, for an SME, that productivity angle is really important, because typically they may be running with lean finance departments, operations, departments, etc. When we talk about analysing business data and informing decision making, we want to free up users to do that more value-add work.

Our technologies run on Oracle Cloud infrastructure. Within that you get all of that compute power and the AI models that an enterprise customer would would receive. We wanted to very much make our AI consumable, and just have it in the fabric of our customer systems so SMEs can also have that kind of experience.

AI adoption requires understanding and data — always, data

The first challenge is just even understanding how they can leverage it. What areas of their business is it really going to drive impact? Because you don’t want to use AI just for AI’s sake. For many SMEs, the biggest challenge is understanding how AI fits into their business model and whether their current infrastructure supports it.

Successful adoption begins with building a solid foundation, particularly around data. We firmly believe the best AI is fuelled by the best data and that AI is only as effective as the data it’s trained on, which makes consolidating business data across functions—such as accounting, HR, and sales—a critical first step.

Also read: Why sustainable power starts with data

A lot of SMEs will probably know the feeling of having pockets of information and data in spreadsheets and various other systems. Cloud-based platforms that integrate AI capabilities simplify this process. These platforms eliminate the complexity of siloed systems and offer SMEs the scalability needed to grow. Investing in these solutions not only supports AI adoption but also lays the groundwork for long-term operational efficiency and innovation. There is also the security aspect, because you want your data to be secure. Our value at Oracle NetSuite is you bring that data into our suite because you want to be able to rely on that data and know that data is the single source of the truth.

Get your technology foundations right for better AI adoption

SMEs should get their tech stack in order and look to adopt a cloud solution to be able to get the most of their AI. If you get the technology foundation correct, then that’s not only going to power your growth as a business, but also power your growth into adopting AI.

For smaller businesses with these growth ambitions, adopting an integrated cloud based platform like Oracle NetSuite will allow them to reap the benefits of embedded AI capabilities at no additional cost. It also reduces complexity as it connects their data across the business and automates core business processes, which goes back to having data that fuels their AI. Ultimately, when you get to the point of adopting AI, you’ll  get some very, very quick wins in terms of automating some of those very manual business processes. And then you can build on that foundation as you come along.

As with most impactful things, AI adoption requires investment for sustainable scaling

Commit to invest. When a business starts, they’re really trying to grow their business very quickly. They’re using a spreadsheet or maybe a small package that they’ve got from somewhere, but then very quickly, as their business grows, they find that they’re in a position where they can’t manage the business effectively. They’ll have some new staff, they’ll have a new department, they very quickly might need to move to a new market because of the growth, and then they realise they need something to support their growth.

Adopting new technologies generally takes some kind of investment, and it usually takes a bit of time for you to realise a return on that investment. SMEs should definitely look to choose tools with AI built into the software and not bolted on. Have that AI in the fabric of the software and everything that you do; don’t try to bolt pieces on because you’ll then bring in additional complexity into to the whole process. So that way, you’re going to get some immediate value from from AI, likely with a limited cost as well.

Also read: Breaking barriers: iFLYTEK’s insights into AI’s role for SMEs

Oracle NetSuite on what’s next for SMEs and AI

The future of AI for SMEs is brimming with possibilities. Over the next three to five years, advancements in generative AI and low/no-code tools will further democratise access to this technology. AI will continue to level the playing field for SMEs and allow them to compete with larger businesses, who arguably will have more people and bigger budgets. SMEs will be able to automate content creation, streamline workflows, and integrate seamlessly with emerging tools like personal AI assistants. These innovations will not only enhance operational efficiency but also enable SMEs to offer differentiated, personalised customer experiences at scale.

The boundaries of AI technology, we can’t even see the edge of it right now. But ultimately, at the core, AI will help customers do more with less, increase revenue, expand margins, and create healthier businesses that can flourish in any economic environment. The growth is exponential; there’s going to be a lot happening. But I’d always tie it back to you have to start with the right foundations.

 

Oracle NetSuite, a global leader in cloud-based business management software, empowers SMEs to streamline operations, enhance decision-making, and scale efficiently. It is the leading integrated cloud business software suite, including business accounting, ERP, CRM and e-commerce software. By embedding AI into its platform, NetSuite provides SMEs with advanced tools to drive growth and innovation.

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This article is part of e27’s special series on Artificial Intelligence for Startups and SMEs, where we explore the transformative power of AI in helping startups and small and mid-sized enterprises navigate today’s competitive landscape. Stay tuned for more insights from industry leaders in upcoming editions.

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Over the last ten years, India’s real estate industry has experienced a substantial change, emerging as a prominent source of job opportunities and one of the fastest-growing sectors contributing to the country’s GDP.

A joint report by real estate consultancy Anarock and the National Real Estate Development Council (NAREDCO) revealed that real estate employment has surged from 4 crore (US$480,000) in 2013 to 7.1 crore (US$852,000) in 2023, marking a significant increase. The industry’s role in economic growth has become crucial due to rapid urbanisation, changing demographics, and a rise in investment prospects, leading to employment generation across multiple sectors.

With such growth being registered, the empowerment of the early-stage mortgage workforce is imperative for fostering resilience and sustaining growth. In a field where knowledge becomes outdated rapidly, proactive learning and skill development are essential for staying relevant.

Continuous education empowers mortgage professionals to anticipate future trends and adapt accordingly. Whether attending workshops on digital mortgage platforms or enrolling in risk management courses, investing in ongoing development equips individuals with the tools needed to navigate industry shifts and seize new opportunities.

Staying ahead of the curve: Up-skilling for real estate professionals

According to a SBI report, India’s housing loan market is predicted to double within the next five years. India’s housing loan market has witnessed substantial growth, propelled by increasing urbanisation, rising disposable incomes, and government initiatives promoting affordable housing.

Over the past decade, there has been an enduring need for housing, despite fluctuations. Notably, there have been substantial new housing projects introduced and successful sales recorded. Moving forward, the real estate industry is expected to experience continuous expansion, with forecasts suggesting a market worth US$1 trillion by 2030, as per the Anarock and the NAREDCO report.

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

With these forecasts in mind, there is an urgent necessity for up-skilling to meet the growing demands of the sector.  India’s skilling landscape too has undergone significant changes, with the Central Government launching numerous specific initiatives and programs.

These initiatives have been designed to foster a nationwide culture that recognises and prioritises skill development. It is evident that achieving the Government’s objectives, such as “AtmaNirbhar Bharat” and “Skill India Mission,” requires a competent and empowered workforce capable of tackling the evolving challenges in the real estate sector, particularly in BFSI.

Each year, a considerable number of individuals join the mortgage sector. By offering them training and opportunities for skill development, we can make a meaningful contribution to the advancement of India. This includes utilising digital tools and online platforms to equip individuals with practical expertise and knowledge, thereby improving scalability and preparing them for upcoming technologies.

Role of mentorship: Inspiring the future generation of mortgage professionals

Mentorship can play a crucial role in providing guidance and assistance to young graduates who aspire to build a career in the BFSI industry. The significance of mentoring goes beyond offering just technical guidance; it creates a sense of belonging within the industry and imparts lessons in mastering the basics, networking effectively, enhancing communication skills, and embracing technology.

This can be achieved through programs that involve expert-led sessions conducted by industry leaders, where they provide valuable insights and practical advice that contribute to the development of skills and instill confidence in the industry. By combining classroom and hands-on training, mentors have the opportunity to share their knowledge and experiences, shaping the next generation of industry leaders and fostering a culture of collaboration and support.

Also Read: Affordable housing conundrum: Navigating India’s real estate challenges with innovative financing

Building a resilient future

As per the January 2024 economic review conducted by the Department of Economic Affairs (DEA), there has been a remarkable improvement in the employability of graduating and penultimate-year students. The percentage of these students deemed employable has surged from 33.9 per cent in 2014 to 51.3 per cent in 2024.

As the mortgage industry continues to evolve, empowering early-stage professionals is paramount. By embracing adaptability, proactive learning, mentorship, and diversity, organisations can navigate challenges, seize opportunities, and drive innovation.

Through our skill development venture, we aim to up-skill early-stage professionals by offering them mentorship and collaborating with them for career advancement in the BFSI industry. Our focus will be on providing training to graduates residing in tier 2 and 3 cities, to subsequently place these aspiring individuals in our parent organisation or its affiliated banks.

To achieve sustainable development, a comprehensive approach to workforce skilling and up-skilling is essential, ensuring the availability of qualified professionals equipped with technical expertise and ethical practices. As we strive towards a 5 trillion economy, the real estate sector’s contribution is crucial. Eventually, organisations that prioritise and facilitate continuous learning create a culture of innovation and agility, positioning themselves at the forefront of industry advancements.

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

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Dear reader,

The surge in startup shutdowns through 2024 underscores a sobering reality: the unchecked exuberance of the pandemic-era funding boom is finally catching up with the ecosystem. The numbers tell a clear story—25.6 per cent more startups dissolved in 2024 than the year prior, with a disproportionate hit to early-stage companies.

While the headlines may feel grim, this wave of closures isn’t surprising. It’s the natural outcome of too many companies receiving capital during 2020 and 2021, often with little due diligence and unsustainable valuations.

The funding frenzy encouraged many founders to scale prematurely, adopting unsustainable burn rates and chasing growth over profitability. When the macroeconomic tide turned—with interest rate hikes and a dip in venture funding—many were left without lifeboats. Enterprise SaaS, consumer, and health-tech startups bore the brunt, but no sector emerged unscathed.

While 2025 may bring more casualties, this isn’t just a story of failure—it’s a rebalancing. The ecosystem is recalibrating toward healthier valuations and more robust business fundamentals.

Amidst the noise of “tech zombies” and closures, a new generation of startups is emerging, leaner and more focused. For founders and investors alike, this is a moment to reflect on the lessons of excess and to build resilience at the forefront.

Sainul,
Editor.

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NEWS & VIEWS

2025 will likely be another brutal year of failed startups, data suggests
‘Shutdowns increased from 2023 to 2024 in every stage. But there were more companies funded (with bigger rounds) in 2020 and 2021. So we would expect shutdowns to increase just by nature of VC naturally’.

YouTube, Circles.Life founders invest in Elev8.vc’s US$30M deeptech fund
Elev8.vc will support early-stage deeptech startups across various sectors, including AI, medtech, robotics, and advanced manufacturing | The VC firm aims to back 20-30 high-potential startups.

Trump says Microsoft is in talks to acquire TikTok
Trump has previously said that he was in discussions with several parties about purchasing TikTok and expects to make a decision on the app’s future within the next 30 days.

129Knots launches with US$10M funding to revolutionise real-world asset trading
Sing Fuels is the lead investor | 129Knots’s OTD technology delivers scalable liquidity solutions via secure chain technologies | This elevates supply chains into high-value assets that meet investment-grade standards.

B Capital appoints Yan-David Erlich as General Partner
Yan-David Erlich will be based in San Francisco and help lead B Capital’s technology and AI investments across venture and growth companies.

Indian news giants sue OpenAI over copyright violations
NDTV, Network18, the Indian Express, and Hindustan Times submitted a petition in a New Delhi court, claiming ChatGPT scraped their content | they claim this negatively impacts their businesses.

DeepSeek unveils cost-efficient AI model to rival OpenAI
The Chinese AI firm model R1 reportedly matches or outperforms OpenAI’s o1 on some benchmarks | It claims that the cost to train its model was US$5.6M, significantly lower than the hundreds of millions spent by some leading US companies.

Perplexity’s new TikTok bid could give US government 50% stake
The proposal indicate that the government would hold non-voting shares and have no representatives on the board | ByteDance would retain some involvement but must transfer proprietary algorithms that influence the app’s user experience.

SG’s Everstone buys majority stake in SaaS firm Wingify
According to a statement from Everstone, the deal is valued at US$300M | Wingify targets international markets, with a large portion of its software solutions sold in the United States and Europe.

EV car sales to top 20M in 2025, research firm says
Europe, the world’s second-biggest EV market, will return to sales growth as CO2 emission targets come into effect and cheaper models become available, but the pace will remain slower than in 2023, Rho Motion Head of Research, Iola Hughes, said.

KuCoin pleads guilty, agrees to pay nearly US$300M in US crypto case
Peken Global, which operates as KuCoin, entered its plea before US District Judge Andrew Carter in Manhattan | The plea includes a US$112.9M criminal fine and US$184.5M forfeiture, and calls for KuCoin to exit the US market for at least two years.

FEATURES & INTERVIEWS

From SoftBank to UOB: A guide to Southeast Asia’s corporate VC leaders
Discover Southeast Asia’s top corporate VC firms driving innovation, supporting startups, and shaping the region’s dynamic tech ecosystem.

‘Thai startups face challenges in funding, corporate engagement, global expansion’: A2D Ventures
‘While Thailand has incredible potential, there are gaps in scaling venture opportunities and exposure to global mentors’.

Talents remain an issue in AI proliferation, but here are 6 steps that businesses can take to tackle it
According to the report, collaboration between human talent and AI remains a focal point for today’s executives.

FROM THE ARCHIVES

AI and automation: Transforming India’s lending landscape
When it comes to artificial intelligence and the process of lending and managing loans, it has provided lenders with the ability to originate loans more quickly and gain a deeper understanding of their customers’ creditworthiness.

Can a small business owner be sustainable in a sustainable manner?
When we talk about sustainability to a normal consumer, they will probably be most familiar with the 3Rs that have been inculcated in us since young. But how many of us really went out of our way to put all that into practice?

How to increase conversion rates at checkout for your business
If your checkout is good, customers will most likely buy, so what can be done to ensure your checkout is set up to increase your conversions?

Why the future of AI needs more diversity and the arts
Diversity is about accepting differences and not forcing men, women, NLP engineers, data artists, and decision scientists to fit into the same mould.

How e-commerce businesses can unlock growth using alternative funding
To tackle the challenges that lie ahead, the e-commerce industry should begin utilising alternative modes of funding to optimise their growth.

How to improve your app’s user experience with a new UI modality
For consumer-facing apps, teams might be interested in conversion rates or engagement | For applications used by professionals such as CRMs and ERPs, the most important goal might be to improve data quality and completed tasks.

Old school, new rules: Retro rewinds and redefines cool
Retro isn’t just about reliving the past; it’s about finding comfort and simplicity in a world that often feels overwhelmingly complex.

The benefits of custom skills-based training in the modern workforce
For rapid staff development in the modern workforce, there is no better place to look than custom learning and development training.

Human-driven interaction in an AI-driven world
There is a fine balance that needs to be struck between the magic of AI and the wonder of human centred innovation | If the balance is tilted too far towards AI, organisations may end up losing customers.

What companies can do to stay agile in the future of work
The new workspace ecosystem is a big challenge but it should also be treated as an opportunity to reap the benefits presented by a more flexible way of working.

How the three faces theory explains identity issues and the rise of bots
The theory suggests that the first face we show to the world | The second face is reserved for family and friends, and the third face is reserved for us alone | Perhaps, the latter is our truest self.

Greentech revolution: Catalysing software’s success to drive a sustainable future
The delivery models and enterprise-wide integration associated with the software must also mature and manifest for Greentech.

Bridging the carbon data gap: How predictive insights for data sustainability are revolutionising emission accounting
Overcoming the challenges of fragmented data in carbon emission accounting is crucial for achieving global sustainability goals.

Building a better future: How sustainable architecture is leading the way for the built environment
The built environment sector is expected to focus increasingly on sustainable architecture as environmental concerns continue to grow.

Unlocking hidden gold: How overlooked wet waste streams hold profit potential despite challenges
Wet waste presents a unique challenge due to its exceptionally high water content, often exceeding 80 per cent of the waste’s mass.

On the precipice of energy transition
The combustion of fossil fuels such as coal, oil and natural gas causes large amounts of greenhouse gases to be released into the atmosphere, trapping heat and causing global temperatures to rise | This leads to climate change.

Why the education sector needs a lesson in ad fraud
Education marketers need to be fully aware of the digital advertising supply chain which requires more trust and transparency.

Retention in e-learning: Data analytics and crypto find their way into vogue
While personalised learning has started to make the mark in increasing the retention rate, using crypto to provide incentives in a “study-to-earn” mechanism is evincing interest among educators.

How e-commerce merchants can capture growth in international markets
With third-party digital platforms and partners making cross-border e-commerce more accessible, it is easy to capture global market opportunities now.

Empowering youth to drive sustainable change through finance and advocacy
Sustainable Finance Simplified offers educational materials to keep up with the latest trends and developments.

How hybrid learning is revolutionising the landscape of education
Countries in the Asia Pacific are at various levels of development when it comes to digital infrastructure and perspectives toward hybrid learning.

Embracing AI in education: Expanding horizons for students
AI is not a threat but an aid to educators, capable of improving personalization, comprehension, and efficiency for all students.

Is mentorship a powerful tool for solving startup challenges and addressing economic concerns?
A supportive ecosystem that develops and grows companies enabling them to attain their full potential, can be created by effective mentorship.

From crunching numbers to transforming data: How I made a career switch from accounting to tech
My experience in tech has given me countless opportunities to work in technical roles or to impart my knowledge.

Breaking barriers: How crypto is disrupting education funding
Cryptocurrency and blockchain can empower education companies to access global investors and new funding sources and drive growth and impact.

THOUGHT LEADERSHIP

Geopolitical risks and economic opportunities: A market overview on global trends
Global markets are navigating a mix of risks and opportunities, driven by geopolitical tensions, economic data, and central bank policies.

Why startup founders should become published authors
A founder’s journey goes beyond scaling—it’s about building a lasting story that inspires and connects with audiences for years to come.

Together for tomorrow: The role of collaboration in disaster tech innovation
The strategic partnership among Prudence Foundation, IFRC, AWS, and e27 are driving innovative disaster tech solutions to mitigate risks and accelerate recovery efforts.

Autonomy vs anarchy: How do we secure the future of autonomous transportation?
The future of autonomous transportation is bright, but its success hinges on public trust and safety | As these technologies become more prevalent, the industry must prioritise cybersecurity at every stage.

The human factor: B2B marketing in 2025
The winners in 2025 won’t be those with the most advanced AI tools or the biggest content engines but will come those who master a new marketing equation—one that combines the scale of AI with the irreplaceable elements of human insight.

Preparing your cybersecurity strategy for 2025: Adapting to the rise of AI
Cybersecurity is not just a technical duty but a business enabler; make 2025 the year your organisation thrives securely in the AI era.

—

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2024 has been a year of remarkable milestones for Fore Coffee, showcasing its steady growth and strategic evolution in the competitive coffee market. With 61 new outlets launched across 43 cities in Indonesia and one in Singapore, the brand now operates 217 locations as of September 2024.

This expansion highlights Fore Coffee’s commitment to reaching more customers while adapting to diverse market dynamics. Notably, the company introduced six flagship stores in Tier 2 cities, designed as “destination sites” with unique designs and welcoming environments. These locations are more than just coffee shops—they are spaces for community and connection, reflecting Fore Coffee’s vision of delivering value beyond the cup.

Under the leadership of CEO Vico Lomar, Fore Coffee’s dedication to innovation has been reinforced by a strategic partnership with Mikael Jasin, the 2024 World Barista Champion. This collaboration underscores the company’s focus on product development and creativity, resulting in standout offerings such as The Tani Series.

In an email interview with e27, Lomar discusses significant trends in Indonesian coffee market and how the company is seizing opportunities there.

The following is an edited excerpt of the conversation:

Are there any significant changes in the Indonesian coffee market that you noticed in the past few years? How does it impact your business?

The Indonesian coffee market has experienced remarkable growth in recent years, driven by evolving consumer tastes and an increasing appetite for high-quality coffee. With a projected CAGR of 11 per cent over the next five years, Indonesia is set to become one of the fastest-growing coffee markets globally.

Also Read: Brewing success: A comparative analysis of Kopi Kenangan and Kopi Janji Jiwa coffee chains in Indonesia

This dynamic presents exciting opportunities for Fore Coffee to continue innovating and expanding while staying deeply attuned to consumer needs. We stay relevant by maintaining a clear and consistent positioning: offering premium quality coffee at an affordable price. This resonates strongly with the modern Indonesian consumer, who seeks both exceptional value and experience.

Recognising the growing demand for social spaces, we have designed our outlets to cater to this need, creating
comfortable environments where people can connect and share moments over coffee. We have actively expanded into Tier 2 and Tier 3 cities. These markets hold immense potential, as they reflect Indonesia’s evolving coffee culture and the desire for more accessible premium coffee.

Our outlet concepts are tailored to these communities, aligning with their hobbies and love for social interaction, whether it is through cozy meeting spots or events that bring people together. As the Indonesian coffee industry continues to thrive, we see immense potential for growth.

Through a combination of high-quality coffee, innovative offerings, excellent service, and competitive pricing, Fore Coffee is committed to becoming the preferred choice for coffee lovers across the nation.

What challenges and even failures have you made in 2024? How do you rise above it?

In 2024, economic uncertainties, such as declining purchasing power, rising costs, and inflation have influenced the coffee market, driving shifts in consumer preferences, pricing sensitivities, and demands for convenience and quality.

To stay ahead, we focused on listening, understanding, and innovating to adapt to these changes. Our highly skilled team—ranging from R&D and marketing experts to our well-trained baristas—played a critical role in keeping us connected to our customers. Through deep market research, product innovation, and timely marketing campaigns and collaborations, we have been able to respond effectively and stay relevant.

Also Read: AirX Carbon turns coffee grounds, rice and coconut husks into bioplastic

Challenges push us to grow stronger and remain committed to delivering the best coffee experiences for our customers.

Who are your users? How do you acquire them?

At Fore Coffee, we understand that coffee consumption is influenced by two key factors: social experiences and on-the-go purchases. This insight guides our strategy to cater to a diverse range of customers, especially one that take part in the urban lifestyle primarily within the 20 to 45 years old age group, through our three distinct types of outlet stores:

Flagship Stores: Designed as ‘destination sites’, primarily located in Tier 2 and Tier 3 cities, these outlets offer a unique and immersive experience, combining style and comfort for customers seeking a social and leisurely environment. Fore Coffee is also progressing our efforts to identify suitable locations for Tier 1 cities as part of our expansion strategies.

Medium Stores: These outlets cater to a mix of customers, blending the needs of on-the-go consumers with those looking for a space to socialize.

Satellite Outlets: Focused on grab-and-go purchases, these outlets meet the demands of fast-paced, convenience-driven customers.

Our business strategy, which is rooted in ensuring that our products are suitable for everyone, is built on comprehensive market analysis and disciplined performance monitoring, ensuring that each outlet meets the preferences and demands of its specific market.

We position Fore Coffee as a premium affordable brand, offering high-quality coffee with innovative flavors that reflect evolving consumer tastes—all at a price point that remains accessible. By focusing our expansion efforts in Tier 2 and Tier 3 cities, including provincial capitals outside Jakarta and Surabaya, as well as smaller non-capital cities, we have been able to reach underserved markets where demand for premium, yet affordable, coffee is growing rapidly.

Our consumers value premium quality products with unique and bold flavours, and we prioritise delivering a memorable experience for both new and loyal customers. Whether visiting our outlets for socialising or grabbing a quick coffee, customers enjoy an environment that combines comfort and convenience, further strengthening their connection to the Fore Coffee brand.

Also Read: As the price of coffee beans increases, Prefer develops climate-friendly beanless coffee for the masses

How does the incorporation of tech elements help grow your business?

From the very beginning, Fore Coffee was built as a tech-driven brand, launching alongside our digital app in 2018, by Willson Cuaca from East Ventures, Robin Boe and Jhoni Kusno from Otten Coffee.

Our approach was designed to ride the wave of the third wave coffee movement, capitalising on the rapidly advancing internet infrastructure at the time. By 2018, services such as fast on-demand delivery platforms (e.g., GoSend and others) were becoming integral to consumers’ lifestyles, alongside increasing internet penetration across Indonesia.

In addition to our app, we leverage cutting-edge tech and expertise from our network to ensure we deliver the finest quality coffee to our customers. From high-tech tools to streamlined operations and data-driven insights, tech allows us to consistently refine our offerings and maintain exceptional standards at an affordable pricing point.

The app is designed to foster meaningful engagement between the brand and our customers while improving operational efficiency, supporting strategic decision-making, and enhancing the overall customer experience. By offering online ordering with the convenience of pick-up options at our outlets, the app ensures that Fore Coffee remains accessible to everyone, whether they are on the go or seeking a quick coffee break.

Additionally, the app features a robust loyalty programme, rewarding our customers and encouraging repeat purchases. This digital-first approach not only strengthens customer retention but also provides valuable insights into purchasing behaviours, enabling us to continually refine our offerings and tailor our services to meet evolving preferences.

Do you have any plans for another funding round? What is your strategy to be financially sustainable?

At the moment, we are focused on strengthening our operations and ensuring that our business continues to grow sustainably. However, if an opportunity arises to take a strategic step, we are prepared to explore that option.

Our priority remains on expanding the business by focusing on management excellence, product innovation, operational efficiency, and consistently delivering high-quality products and services.

Also Read: Coffeefrom: Brewing sustainability from bean to product

As one of the world’s leading coffee producers with a rapidly growing consumption rate, Indonesia’s coffee industry holds immense potential. Fore Coffee is proud to play a significant role in driving growth within this dynamic sector.

Additionally, we contribute to increasing coffee consumption in Indonesia by offering seamless online services, and making premium coffee accessible to a broader audience.

What is your major plan for 2025?

In 2025, Fore Coffee will continue its commitment to delivering premium affordable coffee while focusing on sustainable growth and enhancing the overall customer experience. Our efforts will center on strengthening operational excellence, driving product innovation, and deepening partnerships with local coffee farmers to highlight the unique richness of Indonesian coffee.

Following 2024’s steps, we are always looking to keep expanding our market, particularly in Tier 2 and 3 cities, by opening more flagship, medium, and satellite outlets across Indonesia.

We are strengthening and taking more meaningful steps to become an open and transparent company, guided by the principles of Good Corporate Governance (GCG). These efforts include ensuring accountability, fairness, and transparency across all aspects of our operations, as well as fostering trust among our stakeholders as we move into this exciting new phase.

Our strategy for 2025 also includes exploring opportunities to expand our reach in both existing and new markets while continuing to enhance accessibility through physical outlets and digital platforms. By staying aligned with evolving consumer preferences and maintaining our dedication to high-quality products and services, we aim to solidify our position as a leader in Indonesia’s coffee industry.

While we are excited about the road ahead, we look forward to sharing more details at the appropriate time.

—

Image Credit: Fore Coffee

The post The 2 forces shaping coffee consumption and how Fore Coffee uses them to push for growth appeared first on e27.

Key points:

• Global market sentiment: Asian markets followed Wall Street’s sharp decline, with the S&P 500 and Nasdaq 100 dropping due to concerns over AI company valuations.
• DeepSeek’s disruption: A Chinese AI startup, DeepSeek, introduced a groundbreaking open-source model, raising questions about the future of US tech giants.
• US policy shifts: President Trump announced tariffs on foreign-produced semiconductors, pharmaceuticals, and metals to encourage domestic manufacturing.
• Treasury leadership: Scott Bessent was confirmed as Treasury Secretary, signalling potential shifts in US economic policy.
• Market movements: Treasury yields fell, the US Dollar stabilised, and commodities like gold and oil saw mixed performance.
• Crypto developments: Eric Trump announced tax exemptions for US-based crypto projects to boost blockchain innovation.
• Bitcoin and crypto market decline: Bitcoin dropped below $100,000 as DeepSeek’s rise disrupted global markets, including tech and crypto sectors.

Global market sentiment: A shift in confidence

Global markets are facing a wave of uncertainty, with Asian shares retreating after a tough session on Wall Street. The S&P 500 and Nasdaq 100 both took a hit on Monday, driven by growing concerns over the sustainability of US tech company valuations. The trigger? A Chinese AI startup, DeepSeek, unveiled a new open-source AI model that has investors questioning whether the high valuations of US AI companies are justified.

Adding to the unease, many Asian markets, including China and South Korea, were closed on Tuesday for Lunar New Year celebrations, leaving investors with limited opportunities to respond to the unfolding developments. Meanwhile, US equity futures suggested a flat opening, reflecting a cautious mood among traders.

DeepSeek’s disruption: A game-changer for AI

DeepSeek, a Chinese AI startup, has quickly become the centre of attention in the tech world. The company recently launched its open-source language model, R1, which has gained massive popularity in just a week. It’s now the top-rated free app on the Apple App Store in both the US and China, signalling its rapid adoption and appeal.

What makes DeepSeek’s model so disruptive is its accessibility. By offering a cost-effective, open-source alternative, the company has introduced a new level of competition in the AI space. This has raised concerns among investors about the future of US tech giants, particularly those heavily invested in AI. The shift from expensive hardware to more efficient software solutions could accelerate profitability in the AI industry, but it also introduces significant short-term volatility.

Also Read: Geopolitical risks and economic opportunities: A market overview on global trends

US policy shifts: Tariffs and new leadership

In a move to strengthen domestic manufacturing, President Trump announced plans to impose tariffs on foreign-produced semiconductors, pharmaceuticals, and certain metals. The goal is to reduce reliance on imports and encourage companies to produce goods within the US. While this policy could boost domestic industries, it may also lead to higher costs for consumers and potential trade tensions with key partners.

On the leadership front, Scott Bessent was confirmed as the new Treasury Secretary. Known for his support of gradual universal levies, Bessent’s appointment signals a potential shift in US economic policy. His approach aims to address income inequality while maintaining economic growth. However, markets have reacted cautiously, reflecting uncertainty about how his policies will play out in the long term.

Market movements: Mixed reactions across assets

Financial markets have been sending mixed signals amid the ongoing turbulence. The MSCI US index fell by 1.5 per cent, with tech stocks leading the decline at -5.5 per cent. On the other hand, the Financials sector managed to gain 0.9 per cent, offering a rare bright spot. Treasury yields also dropped, with the 10-year yield falling to 4.53 per cent and the two year yield to 4.20 per cent.

Commodities showed varied performance. Gold remained steady above US$2,700 per ounce despite a slight decline, while Brent crude oil fell by 1.8 per cent, nearing US$75 per barrel. The oil market’s movement reflects expectations that OPEC+ will stick to its current supply plan. Meanwhile, the US Dollar Index stabilised, consolidating its recent losses and signalling a period of relative calm after recent volatility.

Crypto developments: A boost for US innovation

The cryptocurrency sector received a significant boost with Eric Trump’s announcement of tax exemptions for US-based crypto projects. This policy is designed to encourage innovation within the United States and position the country as a global leader in blockchain and digital assets. By exempting domestic projects from capital gains tax while imposing a 30 per cent tax on foreign-based projects, the administration aims to attract talent and investment to the US.

The announcement specifically mentioned well-known projects like XRP (Ripple Labs) and HBAR (Hedera Hashgraph Network), signalling strong government support for established players in the crypto space. This move could pave the way for increased investment and innovation, further solidifying the US’s position as a hub for blockchain technology.

Also Read: Breaking barriers: How crypto is disrupting education funding

Bitcoin and crypto market decline: DeepSeek’s ripple effect

DeepSeek’s rise hasn’t just disrupted the tech sector—it’s also sent shockwaves through the cryptocurrency market. Bitcoin, which had been trading above US$100,000, fell below this key level on Monday. The decline was part of a broader market sell-off triggered by concerns over DeepSeek’s impact on global investment trends.

The rapid ascent of DeepSeek has raised questions about the future of AI and its intersection with other industries, including blockchain. As investors reassess their portfolios in light of these developments, the crypto market is likely to remain volatile. However, the long-term potential of blockchain technology remains strong, especially with recent US policy changes creating a more supportive environment for growth.

Conclusion

The global financial landscape is undergoing a period of rapid transformation, driven by technological breakthroughs, policy changes, and shifting market dynamics. DeepSeek’s emergence as a disruptive force in the AI space has highlighted the need for investors to adapt to a rapidly evolving environment. At the same time, US policy changes, including tariffs and crypto tax exemptions, reflect a strategic focus on fostering domestic growth and innovation.

While the short-term outlook is uncertain, these developments underscore the importance of staying informed and flexible. By diversifying investments and keeping an eye on emerging trends, investors can navigate the challenges and opportunities of this transformative era. The rise of DeepSeek and the evolving crypto landscape are reminders that innovation often comes with disruption—but also with immense potential.

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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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Sixty years ago, Singapore’s separation from Malaysia marked the painful collapse of a bold political experiment. What began as a union based on the promise of a shared future and a common market fell apart under the weight of irreconcilable political objectives and deepening communal tensions. For Singapore, the 1965 split was a jarring moment of reckoning, propelling the fledgling nation onto the path of independence as a small city-state.

To be sure, no one is looking to relive the “Merger” years. As Singapore marks its SG60 diamond jubilee, it stands as a testament to how the nation turned necessity into virtue — transforming that moment of reckoning into the realisation of a potential that likely surpassed even the dreams of its founding fathers. 

But the Johor-Singapore Special Economic Zone (JS-SEZ) does offer an opportunity to level-up a strategic partnership between Singapore and Malaysia, at a time when bilateral ties at the political level are on solid footing. 

A partnership for progress

Formalised at the 2025 bilateral leaders’ retreat, the JS-SEZ represents a landmark collaboration, combining Singapore’s technological and financial expertise with Johor’s abundant land, labour, and natural resources. Spanning 3,571 square kilometres — over four times the size of Singapore –, the zone aims to reshape Southeast Asia’s economic landscape. Singapore will leverage its prowess in digital, treasury and innovation, while Johor capitalises on its strengths in industry, production and resources.

The JS-SEZ arrives at a pivotal moment. Bilateral trade between Singapore and Malaysia reached a remarkable US$78.59 billion from January to November 2024, marking a 6.7 per cent increase compared to the same period in 2023. Building on this momentum, the JS-SEZ is projected to create 20,000 skilled jobs, benefiting talent on both sides of the Causeway. It also aims to support the growth of 50 projects within its first five years and a total of 100 projects within its first decade.

Malaysia has set ambitious targets for the zone, projecting it will contribute US$35.5 billion annually to its GDP by 2030 — nearly five per cent of its current economic output. While Singapore’s GDP boost is estimated to be a modest 0.2 per cent over five years, the broader value lies in strengthening ties with its closest neighbour, aligning strategic interests, and enhancing its relevance in global trade and innovation.

For Singaporean businesses, particularly mid-sized firms, Johor is emerging as a cost-competitive base for operations and production. This complements high-value activities like R&D and regional headquarters located in Singapore, creating a synergistic relationship that bolsters both nations’ economic aspirations.

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

Unlocking four complementarities

The JS-SEZ is distinct for its ability to unlock complementarities that neither country could achieve alone. These synergies fall into four broad areas – in supply chain connectivity; logistics; movement of people; and ease of doing cross-border business.

Firstly, Singapore’s semiconductor industry, which accounts for around seven per cent of its GDP, contributes more than 10 per cent of global semiconductor output and about 20 per cent of global semiconductor equipment production, will benefit from Johor’s capacity for assembly and testing.

This collaboration could create a regional supply chain to rival Shenzhen, offering resilience and proximity to ASEAN markets. Meanwhile, Johor’s renewable energy resources, such as solar and biomass, can power energy-intensive data centers, enabling firms in Singapore to expand digital infrastructure while advancing a global green energy agenda.

Secondly, Johor’s abundant land and competitive costs make it an ideal partner for the expansion of food manufacturing and green technology enterprises based in Singapore. ASEAN’s booming e-commerce market, projected to exceed US$300 billion by 2025, underscores the importance of efficient logistics. With its proximity and infrastructure, the JS-SEZ is well-positioned to become a regional logistics hub, enabling both nations to outpace regional competitors.

Thirdly, unlike previous initiatives such as Iskandar Malaysia, the JS-SEZ prioritises connectivity. The Rapid Transit System (RTS) Link, set to open in 2026, will reduce travel time between Johor Bahru and Singapore, easing congestion and enhancing labor mobility. A passport-free QR code system for workers and digitised customs processes aim to streamline cross-border flows, significantly lowering transaction costs for businesses.

Finally, governance reforms underpin the SEZ’s design. A one-stop business center in Johor will handle investment approvals, addressing past complaints about bureaucratic delays. Special tax incentives, including lower corporate rates and personal income tax relief for skilled professionals, are designed to attract high-value industries and top global talent. If successfully implemented, these measures will make the JS-SEZ a magnet for investors.

Also Read: Singapore aims to lead in AI — but where’s the talent?

1963 reimagined?

The JS-SEZ represents a reimagining of the Singapore-Malaysia relationship as a partnership grounded in mutual interest and economic foresight. It enables both sides to transcend national limitations. And it is a bold statement of confidence in economic collaboration to spur growth, in a world marked by rising protectionism, growing economic nationalism and tighter trade restrictions.

For Singapore, the zone presents a strategic opportunity to overcome physical and structural limitations charting a path for its next phase of growth under the leadership of Prime Minister Lawrence Wong, while enriching ties with its closest neighbour. For Malaysia, it offers the potential to transform Johor into a production powerhouse, drawing global investment and spurring regional development — a partnership inked during Prime Minister Anwar Ibrahim’s chairmanship of ASEAN.

Sixty years after the Separation, the JS-SEZ offers both nations a chance to enhance their respective value propositions where the sum proves more than its parts, and a fresh canvas to rewrite their shared story as complementary partners, united by common goals for themselves and the region in an increasingly complex global landscape. “The greater competition we face is not among ourselves within ASEAN – it’s outside of the region. ASEAN has to come together, look at ways to enhance our value proposition, and be competitive together” said PM Wong. 

History may not repeat itself, but it often rhymes. For Singapore and Malaysia, a strong domestic consensus, paired with stable and trusted relationships at the highest levels of government, could further elevate the shared peace, prosperity and potential their peoples have long deserved – deepening ties that have evolved and endured since 1965.

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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

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