Malaysia’s digital economy is undergoing a remarkable transformation, with artificial intelligence (AI) and cybersecurity emerging as central pillars of its economic growth and regional leadership. The nation’s strategic focus on these technologies is not only driving innovation but also positioning it as a key player in the global digital landscape.

The Malaysia Digital Economy Corporation (MDEC) predicts that the digital economy will contribute 25.5 per cent to Malaysia’s GDP by 2025, up from 22.6 per cent in 2022. This growth is fuelled by targeted investments in AI, cybersecurity, and digital infrastructure under the Malaysia Digital Economy Blueprint and Budget 2024. These initiatives are laying the foundation for a future-ready economy that prioritises innovation, inclusivity, and sustainability.

AI: Transforming industries and creating opportunities

Malaysia’s commitment to AI is evident through its MYR 20 million (US$4,500,000) investment in a national AI framework under Budget 2024. This initiative aims to drive research, development, and commercialisation, creating over 500,000 high-value digital jobs by 2030. AI is revolutionising industries such as healthcare, finance, and manufacturing, unlocking new possibilities for innovation and efficiency.

For instance, companies like BrioHR.com are leveraging AI to automate HR practices, streamlining processes, and enhancing productivity. Similarly, Juwai IQI is using AI analytics to transform real estate decision-making, offering data-driven insights that empower businesses and consumers alike. These examples highlight the transformative potential of AI in driving economic growth and improving business outcomes.

However, the rapid adoption of digital technologies also brings challenges, particularly in the realm of cybersecurity. The growing reliance on digital infrastructure has exposed businesses and government entities to escalating cyber threats, including ransomware, data breaches, and phishing attacks. To address these challenges, Malaysia is taking proactive measures to strengthen its cybersecurity framework.

Cybersecurity: Building trust in the digital economy

Cybersecurity is a critical enabler of Malaysia’s digital transformation. The PIKOM Cybersecurity Report 2024 underscores the importance of addressing emerging threats, including quantum-related cybersecurity risks.

Under Budget 2025, RM50 million (US$11,285,400) has been allocated to public universities for AI and cybersecurity research. This includes the establishment of the Malaysian Cryptology Technology and Management Centre, a collaboration between Universiti Putra Malaysia (UPM) and the National Cyber Security Agency (NACSA).

Also Read: Navigating Malaysia’s regulatory landscape: First quarter 2025 insights

These efforts are not just about protecting businesses and consumers—they are about building trust in the digital space. A secure digital environment is essential for attracting foreign investment and fostering confidence among stakeholders. Malaysia’s focus on cybersecurity is a testament to its commitment to creating a resilient and trustworthy digital economy.

Malaysia as a high-tech investment destination

Malaysia’s strategic investments in digital transformation are paying off, as the nation becomes an increasingly attractive destination for high-tech investment. Global giants like Oracle are investing billions in the country, with the recent establishment of a cloud region in Malaysia signalling strong confidence in its digital infrastructure and talent pool.

The tech sector is expected to grow by 8-10 per cent annually by 2025, driven by investments in AI, cybersecurity, and digital infrastructure. This growth is further bolstered by the endorsement of His Majesty Sultan Ibrahim, King of Malaysia, who has commended the government’s efforts to attract foreign investment in the digital and technology sectors. Such support underscores Malaysia’s position as a modern, innovation-driven nation.

Budget 2025: Doubling down on digital transformation

Budget 2025 reaffirms Malaysia’s commitment to digital transformation with significant allocations, including MYR 1.5 billion (US$338,562,000) for digital infrastructure development, MYR 200 million (US$45,140,000) for up-skilling initiatives, and tax incentives for companies investing in AI, cybersecurity, and green technology. These measures align with Malaysia’s ambition to become a high-income, digitally driven nation by 2030.

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

The focus on digital infrastructure, such as 5G rollout and broadband expansion, is critical for ensuring widespread connectivity and access to digital services. At the same time, up-skilling initiatives are equipping the workforce with the digital literacy and AI expertise needed to thrive in the digital economy. Tax incentives for green technology investments further highlight Malaysia’s commitment to sustainable growth.

A promising future for Malaysia’s digital economy

Through strategic investments in AI and cybersecurity, Malaysia is unlocking new opportunities in the digital economy. The government’s efforts, combined with private sector innovation, are creating a vibrant ecosystem that drives economic growth and improves quality of life.

Companies like GoFlexEvents.com are at the forefront of this transformation, offering cutting-edge digital solutions for hybrid events that help businesses adapt to the evolving digital landscape. These innovations are not only enhancing business efficiency but also contributing to Malaysia’s reputation as a hub for digital innovation.

Malaysia’s journey toward digital transformation is a testament to the power of strategic vision and collaboration. By embracing AI and cybersecurity, the nation is enhancing its economic competitiveness and setting an example for others to follow. As Malaysia continues to prioritise these technologies, it is well-positioned to achieve its goal of becoming a regional leader in the digital economy, fostering sustainable growth and innovation for years to come.

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As businesses navigate an era shaped and influenced by rapid digital transformation and AI, public relations (PR) remains a vital tool for building corporate reputation and trust. This is especially true for small and medium-sized enterprises (SMEs) and scaling startups that are also looking to establish credibility and brand recognition, attract investors, and engage their stakeholders.

AI is transforming PR, but it’s not replacing it

AI is reshaping industries, and PR is no exception. According to industry research, over 70 per cent of PR professionals are already using generative AI tools in their work, including enhancing data analysis, media monitoring, and research. AI-driven tools can help with efficiency, but the heart of PR — strategic thinking, creative campaign planning, pitching and storytelling, and building relationships — still requires human expertise.

For SMEs and scaling startups, this means the challenge is about getting noticed as well as about being heard in an authentic, compelling way. AI can process data, but it can’t develop meaningful media and influencer relationships, navigate complex reputational challenges, or craft narratives that truly resonate with customers and investors.

Why SMEs and scaling startups ought to prioritise PR

For businesses that are growing, whether an established SME expanding into new markets or a startup securing its next funding round, PR is a powerful driver of credibility, differentiation, and influence and building a consistent and trusted brand voice across multiple touchpoints. Something that a few press releases won’t be able to do accomplish.

Also Read: Embracing AI’s promise: Navigating the future of marketing

While some companies choose to manage PR in-house, partnering a PR agency can enhance reach, speeds up results, and ensures resources are used efficiently. Here are five key ways SMEs and scaling startups can truly benefit from working with a PR agency partner:

• Strategic guidance that aligns with growth goals

Think of a PR agency as a strategic partner that takes on the role of shaping and developing your communication strategy that supports your mid to long-term vision. Whether that’s market expansion, securing Series A funding, becoming an employer of choice to attract, motivate and retain talents or becoming a thought leader in your industry.

• Content that tells an authentic story

Storytelling comes in a number of formats but how would you know which will resonate better with your range of audiences? That’s where your PR agency partner comes in. From thought leadership articles that shapes perception, hosting your own podcast, creating a series of video-based stories, to social media content that drives engagement, your PR agency partner will help you find the right platforms and channels to tell your story, nuanced in a way that best connects with your key audiences.

• Time and resource efficiency

For scaling businesses, time is a valuable commodity. Working with a PR agency partner offers an extended focused team resource, thereby freeing up internal teams to focus on core functions like product development, sales, client success and operations. As you scale with a CMO in place, your PR partner can work with them to refine and activate the communications strategies.

• Long-term relationship building

PR is about nurturing reputations and communicating with the intent of building or enhancing relationships with stakeholders like customers, employees, investors, and industry leaders. Both of these are crucial factors in sustaining business growth.

• Reputation management

Whether it’s handling negative reviews, market shifts, or unexpected crises, a PR agency partner provides advisory and guidance to protect and strengthen a company’s reputation — crucial asset for any growing business.

Also Read: The growth of business messaging: How it’s improving business performance in Southeast Asia

Partnership is key to communication success

The businesses that will thrive in the AI era are those that blend technology with human intelligence, using data-driven insights while maintaining the authenticity and trust that only real relationships can build. So, if you’re looking to strengthen your brand, gain trust, get recognised and regarded as an industry disruptor, or attracting the right investors, consider these:

• Is your story reaching the right audience?
• Are you positioned as an industry leader (or a fast emerging one) or just another name in the crowd?
• Are you proactively shaping your industry narrative, or are you reacting to it?
• Are your content and communication efforts aligned with your business growth strategy?
• Is your company known for its expertise and values, or is it struggling to be recognised?

Having worked in both on the PR agency and client side, I truly believe that with the right PR consultancy, they will function more like a growth partner that is aligned with your corporate goals.  Now is a good time as any to take a proactive approach and have a conversation about how PR can accelerate your growth and position your business for success in 2025 and beyond.

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Singapore, 27 November 2024 – Sophia, headquartered in Singapore, has released the results of its second annual survey conducted from June to September 2024. The survey engaged women globally to explore their attitudes towards financial education, as well as the challenges and opportunities they face in money management.

Findings reveal shift towards long-term financial wellbeing

The findings provide crucial insights into women’s financial journeys and underscore the need for targeted educational support. Key takeaways from this year’s survey include:

• Increased Awareness of Financial Knowledge: An overwhelming 97% of respondents recognised the need for improved financial knowledge, demonstrating a heightened awareness of the importance of financial education in effective money management.

• Sources of Financial Education: While family and friends remain the primary sources of financial knowledge and advice for 59% of participants, financial media is also significant, with 55% relying on it. Notably, 51% of respondents turn to social media for financial information, reflecting a six-percentage-point increase from last year’s survey.

• Barriers to Accessing Financial Education: A notable 31% of respondents cited “too much jargon” as a barrier when seeking financial education from institutions, highlighting the need for clearer communication for financial education, products and services.

• Trust in Financial Education Sources: Impartiality is crucial. 69% of respondents trust third-party providers for their financial education needs, emphasising the demand for unbiased information.

• Interest in Retirement Planning: A significant 72% expressed a desire to learn more about retirement planning, indicating a growing concern about long-term financial security, which aligns with current demographic trends.

Sophia champions inclusive financial education to empower women globally

Nicole Denholder, co-founder of Sophia, stated, “The results of this survey highlight the significant opportunity to serve women with tailored financial education programmes that empower them to take control of their financial lives. We are committed to bridging the knowledge gap and providing accessible resources that meet women’s unique money management needs.”

Christine Yu, co-founder of Sophia, added, “Our mission is to create inclusive financial wellbeing solutions that enable women to make informed financial decisions and achieve better financial outcomes. This survey not only reveals the challenges women face but also showcases the tremendous potential for growth when they are equipped with the right mindset, tools and knowledge.”

The survey results were presented at a launch event on November 6, 2024, in Singapore, attended by representatives from financial institutions, corporate partners, thought leaders, and advocates for women’s financial empowerment. As Sophia continues to lead in women’s financial education, it remains dedicated to reshaping a more inclusive financial services industry and creating a world where women can thrive financially.

For more information about the survey findings or Sophia’s solution suite, please visit Sophia’s website or contact the team.

About Sophia

Founded by gender finance veterans Christine Yu and Nicole Denholder, Sophia is a pioneering B2B platform providing technology-driven financial wellbeing solutions tailored for women. By partnering with companies to deliver impactful programmes, Sophia enhances engagement with women employees and customers throughout their money management journeys. Sophia aims to make financial decision-making accessible, inspiring, and empowering for women across Asia and beyond. For press inquiries, reach out to Christine Yu, Co-founder at christine.yu@sophiawomen.com.

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This article is sponsored by Sophia Women

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Dear reader,

As TikTok faces a looming April 5 deadline to divest from its Chinese parent company ByteDance or risk a ban in the US, a flurry of high-stakes bids is emerging.

Amazon has reportedly submitted a last-minute offer to acquire the entirety of TikTok, according to The New York Times. However, insiders suggest the bid is not being taken seriously by key stakeholders involved in the deal.

Meanwhile, a more viable bid appears to be taking shape around Oracle, backed by major American investors. The Financial Times reports that venture capital firm Andreessen Horowitz (a16z) is in talks to join the Oracle-led consortium, leveraging its track record in social media investments—including early backing of Facebook and Instagram, as well as a US$400 million investment in Elon Musk’s Twitter acquisition.

In addition to Oracle and a16z, other major players like Blackstone and Susquehanna International Group are reportedly exploring ways to provide capital or participate in bids to keep TikTok under US control.

With President Trump expected to meet officials this week to determine TikTok’s future, the outcome of these competing bids could reshape the social media landscape—and the geopolitical tensions surrounding it.

Sainul,
Editor.

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REGIONAL NEWS

Southeast Asian nations, among hardest-hit by Trump tariffs, seek talks
Vietnam, slapped with 46% tariffs, called for talks with Washington in order to reconsider “unfair” US duties | Thai PM said she would pursue negotiations to try to reduce the 37% rate her country faces – far greater than the 11% it had expected.

Maybank sees acquisition of Gojek to be the most favourable scenario for Grab
The research house said in a note that if Grab acquires Gojek, it sees synergy net present value (NPV) of US$2.4B, leading to 10% NPV accretion for Grab while balance sheet cash will still be a strong US$3.2B.

Qualcomm expands AI R&D with acquisition of MovianAI from Vietnam’s Vingroup
The integration of MovianAI’s expertise promises to accelerate Qualcomm’s development of next-generation AI solutions for a wide array of applications.

SG-based early-stage VC fund launches, concludes US$746K angel round
Wild Ventures is an early-stage fund focusing on AI-powered brands | It currently has three internally developed brands: Wild Palace, Poositive Pets, and Future Paper.

Wavemaker Impact launches Nūl with US$500K investment to tackle fashion overproduction
Nūl helps fashion brands transition to zero-waste production by combining agentic AI with data science and ML to improve stock planning, allocation, and replenishment.

FEATURES & INTERVIEWS

“Don’t ‘out-bro’ your male colleagues”: Kickstart’s women leaders on gender diversity in VC
They say female VCs should instead focus on building authentic relationships with startup founders and providing support by sharing experiences, insights, or connections.

‘The future is on-chain’: Nansen CEO on AI, staking, and new growth plans
Nansen CEO Alex Svanevik discusses Robert Leshner’s board appointment, platform evolution, AI integration, staking expansion, and future DeFi innovations.

Decoding roles: A guide to the varied job titles within a VC firm
Understanding the difference between each role in a VC firm enables founders to be more strategic in their networking approach.

INTERNATIONAL NEWS

Tesla records worst deliveries in two years amid Elon Musk backlash
The dip in sales comes as Musk continues leading DOGE, the “advisory body” that has laid off thousands of federal employees | His involvement in the government has not only proven controversial but also unpopular.

Amazon reportedly submits last-minute bid to acquire TikTok
The last-minute bid comes as TikTok faces an April 5 deadline to shed its Chinese ownership or face a ban in the US | President Donald Trump is scheduled to meet with officials to discuss the app’s fate on Wednesday.

A16z said to consider TikTok investment as part of Oracle-led bid
This move comes as TikTok faces a potential ban in the US on April 5, unless it transitions to non-Chinese ownership | The Oracle-led proposal is reportedly one of the leading options under consideration.

Hong Kong IPOs surge as AI hype fuels investor interest
Hong Kong saw 15 IPOs in Q1 2025, raising US$2.27B, its strongest start since 2021 | Six IPOs surpassed US$128.5M, compared to just one last year | Support from Beijing and stock exchange rule changes have encouraged listings.

Crypto markets slide after Trump tariff announcement
Bitcoin fell 5% to US$81,849.63, while ether and solana dropped 7% and 13%, respectively | The broader stock market also declined, with the S&P 500 set for its worst day since September 2022.

Musk’s US$1T federal spending cuts worry tech investors
The proposed cuts could hit companies that rely on government contracts, as the federal government is expected to spend around US$40B on software and cloud services in 2025.

TikTok may face US$553M fine over EU data transfer violations
The penalty from Ireland’s Data Protection Commission stems from the unauthorised transfer of European user data to China, where it was accessed by engineers.

Bitcoin-related startups see 50% surge in pre-seed funding
According to Trammell Venture Partners, from 2021 to 2024, pre-seed deals jumped by 767%, with early-stage bitcoin startups attracting nearly US$1.2B over four years | This surge comes despite a general slowdown in tech venture capital.

Tesla faces decline in China sales as local competitors grow
Tesla’s sales of China-made vehicles dropped by 11.5% in March, with 78,828 cars sold | Local competitors like BYD and Geely outperformed Tesla in growth | BYD’s sales rose by 23%, while Geely saw a 167% increase.

SEMICONDUCTOR

Singapore semiconductor firms eye Malaysian bourse as IPO momentum builds
UMS Holdings and Grand Venture Technology recently received approval to pursue listings on Bursa Malaysia | The move comes as Malaysia’s stock market continues to buck global trends, maintaining strong IPO numbers amid sluggish activity elsewhere.

GlobalFoundries explores merger with Taiwan’s UMC
This is part of a long-shot deal aimed at creating a more resilient manufacturer of older-generation semiconductors | The US chipmaker has a market value of roughly US$20B, while the Taiwanese firm is worth about US$17B.

ARTIFICIAL INTELLIGENCE

Singapore isn’t just watching the AI hardware boom — We’re building it
The island nation’s AI hardware revolution is here: We’re shipping smart glasses with edge AI, real-time data & global SDK integration — no waiting.

How AI is reshaping the future of leadership
In an AI-driven world, leaders who embrace adaptability, ethics, and mentorship can navigate disruption and drive the next wave of innovation.

AI and cybersecurity: Pillars of Malaysia’s economic growth and regional leadership
Malaysia is driving digital growth with AI and cybersecurity investments, aiming for a 25.5% GDP contribution by 2025 and global leadership.

2024 in tech: AI’s rise, developer growth, and what’s next
AI shaped 2024, redefining work and tech; as 2025 begins, global collaboration and innovation continue to accelerate.

Dynamic content in the era of machine learning
With machine learning, each variation is automatically crafted for the individual consumer, catering to unique tastes and interests.

THOUGHT LEADERSHIP

Beyond the announcement: The ripple effects of liberation day on global assets
Trump’s “Liberation Day” tariffs take effect today, shaking global markets as investors brace for economic and trade fallout.

Trump’s tariff bombshell: A US$660B shake-up for global trade
The US President’s sweeping new tariffs reshape global trade, impacting markets, inflation, and key industries with uncertain outcomes.

For Web3 to take off, we need to fix the rigidity problem of smart contracts
The immutable aspect of smart contracts makes it a double-edged sword, if Web3 developers cannot easily patch known vulnerabilities.

Unlikely mentors: What kids can teach you about entrepreneurship
Just like curious kids, you must seek out information, grow new theories, convert theories into actionable ideas, and then execute them | Asking questions and taking a game-based approach to critical thinking will make sure you remain nimble.

Bull-proof, bear-proof: How smart startups win in every market cycle
Startups thrive in bull markets but only the best survive bear cycles—mastering treasury, margins, and strategy ensures long-term success.

Expert tips for crafting an effective pitch deck from a seasoned early-stage investor
Pitch decks are a “teaser” that can help you get on the path of investment. Find out what investors think a good pitch deck should cover.

Pitching from home: How to get investors’ attention in a virtual world
Golden Gate’s Vinnie Lauria shares his quick advice on getting a “yes” to an investor pitching, and making it a home run.

The slow death of financial flexing and the rise of financial fundamentals in the startup world
Below are five common startup accounting mistakes and how founders can avoid them while running their companies.

Key metrics for B2B SaaS companies: How to ensure monitoring success
What are the key metrics to track to ensure the right understanding of your business and the sustained longevity of your SaaS company?

Diverse paths to profits: Exploring exit strategies beyond IPOs and M&A
The pickup in IPOs and M&A deals in the region bodes well for the possibility of high-value exits for investors.

Know thy customer: The only rule for startups looking to build trust on social media
We explore the social media best practices that startups of all types can use as a guide to drive customer engagement and brand recognition.

Why you should start a business in your 40s
Through your many years of work experience, you will have figured out your strengths and been able to use them to your advantage.

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On April 4, 2025, the US stock market experienced its worst single-day performance in years, shedding approximately US$2.5 trillion in value as investors fled to safe-haven assets like US Treasuries and gold. The MSCI US index plummeted by 4.9 per cent, with particularly brutal declines in the energy sector, down 7.5 per cent, and information technology, which fell 7.0 per cent.

Meanwhile, defensive sectors like consumer staples, up 0.7 per cent, and utilities, down just 0.6 per cent, managed to weather the storm far better than their cyclical counterparts. This dramatic shift in market sentiment has been fuelled by fears that Trump’s tariffs—the steepest increase in American trade barriers in over a century—could choke economic growth, drive up inflation, and potentially tip the US economy into a recession.

Trump’s latest tariff policy, announced after the market closed yesterday, imposes a blanket 10 per cent tariff on imports from every country in the world, effective April 5. Citing his authority under the International Emergency Economic Powers Act of 1977, the president framed the move as a necessary step to protect American industries and workers. However, economists are sounding the alarm about the near-term consequences. Higher tariffs are widely expected to increase the cost of imported goods, pushing up prices for American consumers already grappling with inflationary pressures.

At the same time, retaliatory measures from trading partners could dampen US exports, further slowing economic activity. Some analysts warn that the combination of higher prices and weaker growth could create a stagflationary environment, while others see a full-blown recession as a real possibility if the tariffs remain in place for an extended period. With markets now laser-focused on Friday’s US jobs report and an upcoming speech by Federal Reserve Chair Jerome Powell, investors are desperate for clues about how policymakers might respond to this escalating crisis.

The bond market has also reacted decisively, with Treasury yields dropping as expectations of Federal Reserve rate cuts grow. The 10-year Treasury yield fell 10.2 basis points to 4.03 per cent, while the 2-year yield slid 17.7 basis points to 3.68 per cent, reflecting heightened recession fears and a flight to safety.

The US dollar index, meanwhile, shed 1.7 per cent, continuing its downward trend as investors reassess the outlook for US growth. Gold, a classic safe-haven asset, held steady at US$3,100 per ounce despite a modest 0.6 per cent dip, buoyed by persistent demand amid the uncertainty.

On the commodities front, Brent crude oil took a significant hit, tumbling 6.4 per cent to US$70 per barrel as traders worried that tariffs would sap global demand growth just as OPEC+ ramps up supply. Asian equities followed Wall Street’s lead, opening sharply lower, and US equity futures suggest stocks will start the day down an additional 0.2 per cent, signalling that the pain may not be over yet.

Also Read: Trump’s tariff bombshell: A US$660 billion shake-up for global trade

The cryptocurrency market has not been immune to this turmoil, with Bitcoin experiencing a sharp decline in tandem with other risk assets. After hitting an intraday high of nearly US$88,000 less than 24 hours ago, Bitcoin plunged to a low of US$81,300—a drop of more than seven per cent—before recovering slightly to trade around US$83,000 as of this writing. The sell-off reflects broader market dynamics, as investors pull back from speculative assets in favour of safer bets.

Ethereum, the second-largest cryptocurrency by market cap, has also struggled. After failing to hold above the US$1,850 level, ETH dipped as low as US$1,751 and is now consolidating below the US$1,820 mark and its 100-hourly simple moving average. Technical indicators suggest resistance near US$1,840, with a bearish trend line forming at US$1,810 on the hourly chart. For Ethereum to mount a meaningful recovery, it would need to break through these levels and push toward US$1,880, but the current market mood makes that a tall order.

In my opinion, Ethereum’s performance is critical to sparking a broader crypto bull market—carries significant weight given its central role in the digital asset ecosystem. Ethereum remains the backbone of decentralised finance (DeFi), powering a vast array of applications from decentralised exchanges (DEXs) to non-fungible tokens (NFTs). Recent data underscores its resilience: in March 2025, Ethereum reclaimed its position as the leading blockchain for DEX trading, overtaking Solana with a trading volume of US$64 billion compared to Solana’s US$52 billion.

Platforms like Uniswap and Curve Finance have driven this surge, reinforcing Ethereum’s dominance even as it grapples with challenges like a historically low ETH burn rate and declining transaction fees following the implementation of EIP-1559. The drop in the burn rate has led to an increase in ETH’s total supply, raising concerns among some investors about inflationary pressures within the network. Yet, Ethereum’s ability to hold its ground amid these headwinds speaks to its enduring strength and adaptability.

Solana’s fading momentum in the DEX space, meanwhile, highlights the shifting tides in the crypto market. The hype around Solana-based meme coins, which fuelled much of its trading volume on platforms like Raydium and Pump.fun, has dissipated, allowing Ethereum to reassert its supremacy.

This resurgence is a testament to Ethereum’s robust infrastructure and developer community, which continue to innovate despite high gas fees and scalability concerns. For a bull market to take hold, Ethereum would indeed need to lead the charge, setting the tone for smaller altcoins and driving renewed investor confidence.

Also Read: Exploring Sri Lanka’s potential as a premier global IT hub

However, the current macroeconomic environment—marked by Trump’s tariffs, a faltering US economy, and a risk-off sentiment—poses a formidable obstacle. If Ethereum can break through its technical resistance levels and capitalise on its DeFi leadership, it could spark the kind of momentum you envision. But for now, the broader market’s woes are keeping a lid on that potential.

Stepping back, the implications of Trump’s tariff measures extend far beyond the immediate market reaction. The US has long prided itself on economic exceptionalism, underpinned by robust growth, a strong dollar, and a dominant position in global trade.

Yet, this latest policy risks unraveling that narrative. Higher tariffs could disrupt supply chains, erode corporate profits, and alienate trading partners at a time when geopolitical tensions are already running high. The flight to haven assets suggests that investors are bracing for a prolonged period of uncertainty, and the upcoming US jobs report will be a critical litmus test.

A weak report could amplify recession fears, prompting the Fed to accelerate rate cuts—a move that might cushion the blow to stocks and crypto but could further weaken the dollar. Powell’s speech will also be pivotal, as markets look for any hint of how the central bank plans to navigate this tariff-induced storm.

In my view, the markets are at a crossroads. The tariff announcement has exposed vulnerabilities in the global economy that were previously masked by optimism about US growth and technological innovation. While defensive assets like gold and Treasuries may offer short-term refuge, the longer-term outlook hinges on how businesses and consumers adapt to higher costs and slower growth.

For risk assets like stocks and cryptocurrencies, the path forward looks treacherous, but opportunities could emerge if the Fed steps in decisively or if the tariffs are scaled back under political pressure. Ethereum’s role as a crypto bellwether adds another layer of intrigue—its ability to rally despite these headwinds could indeed signal a turning point for the digital asset space.

“For now, though, caution reigns supreme, and the world is watching closely as this high-stakes drama unfolds.” — Anndy Lian

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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.

AI-generated image via ChatGPT (OpenAI).

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Singapore has overtaken San Francisco as the city with the highest concentration of rapidly expanding startups for the first time, according to the 2025 Hypergrowth Startup Index released today by HubSpot for Startups.

The annual report, produced in partnership with PitchBook, analyses the top 100 fastest-growing companies and unicorns. The findings indicate a significant evolution in the startup ecosystem, with sustainable business models and strategic partnerships now prioritised over unchecked rapid growth and massive funding rounds.

Also Read: The DeepSeek debate: Opportunity or overhype for startups in ASEAN?

The report reveals a notable shift in investment trends. While monthly deal counts have decreased by 50 per cent from 20,000 in 2021 to 10,000, the average deal size has increased by nearly 43 per cent, rising from US$35 million in 2023 to US$50 million in 2024. This suggests investors place greater emphasis on long-term viability rather than sheer scale.

Asia is becoming a central force in global innovation, with China’s emerging presence in Shanghai and Beijing alongside Singapore’s leading position. While other hubs like London continue demonstrating strong performance, the focus is shifting eastward.

Artificial intelligence (AI) is significantly reshaping the startup landscape, with a particular emphasis on sustainable growth strategies.

Interestingly, traditional sectors are exhibiting surprising strength in growth rates. The energy sector leads with a 37 per cent growth rate, slightly ahead of IT at 36 per cent and B2B companies at 35 per cent. Commercial services companies are also strong performers, with an average growth rate of 30 per cent.

“This data validates what we’ve been seeing across our startup ecosystem. Companies that focus on building strong customer relationships from day one are outperforming those that prioritise rapid scaling above all else,” said Laurence Butler, Head of HubSpot for Startups.

Strategic partnerships are proving to be highly valuable in the current market. Joint ventures are seeing average deal sizes of US$9.9 billion, four times larger than traditional buyout deals. Early-stage venture capital remains robust, accounting for 46 per cent of deals in the fastest-growing segment, with seed-stage deals maintaining stability at approximately 50 per month.

Also Read: Small business, big impact: How AI is democratising entrepreneurship

Exit patterns are also evolving, with mergers and acquisitions dominating at 43 per cent, while initial public offerings (IPOs) represent only 6 per cent of recent exits. However, there was nearly a 50 per cent increase in IPOs between 2023 and 2024, hinting at a potential rebound in public markets.

HubSpot for Startups aims to support the next generation of successful companies by offering discounted software and resources. HubSpot Ventures has also invested in companies like Clay and G2.

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Southeast Asia’s tech startup ecosystem witnessed a slight uptick in funding activity in March 2025, with total funding reaching US$99.5 million across 22 rounds.

This figure represents a notable 10.31 per cent increase compared to the previous month, February 2025.

However, the total funding for March 2025 was a steep 82.1 per cent lower than the funding secured in the same month last year.

Also Read: Singapore surpasses San Francisco as world’s top hyper-growth startup hub

According to data compiled by startup intelligence platform Tracxn for March 2025:

• The region reported 15 seed-stage, six early-stage, and 0ne late-stage rounds.
• Iterative emerged as the most active venture capital firm in the region, participating in seven rounds, including Seedflex and six others.
• Other active VCs during the month included 1982 Ventures, TheVentures, and Ignite House.
• Notable deals included Higala and Filum, each closing one round of funding.

Also Read: Fundraising remains tough in ASEAN despite capital stabilisation: January Capital report

According to a recent report by January Capital, overall funding for ASEAN technology companies began stabilising in the latter half of 2024.

However, the total number of deals completed witnessed a 23 per cent year-on-year decrease, with seed and early-stage funding experiencing the most significant contraction.

A closer examination of funding by stage indicates a growing scarcity of dedicated seed capital. While the seed-stage deal count saw the most significant decline in H2 2024, Series A and B financing stages show signs of stabilisation.

Notably, the amount of capital deployed stabilises, with Series A, B, and C deal values showing either half-on-half or year-on-year improvement in the latter half of 2024. Nevertheless, the seed stage remains the most constrained in terms of capital availability.

Having said that, fundraising remains a paramount challenge for founders in Southeast Asia, with 74 per cent of surveyed founders identifying it as one of their top three hurdles.

The post SEA’s startup funding rebounds slightly in March, but y-o-y dip remains steep appeared first on e27.

The answer is very easy: just get the sales function handed over to someone outside your core teams.

There’s a seductive temptation to outsource the messiest, toughest function in business: sales. It’s not hard to see why. You’re battling product development, raising funds, managing a team, and building infrastructure, so why not hand sales to the “experts” while you focus on what matters, right?

Wrong!

Sales: The heart of your startup

Outsourcing sales in a startup is like outsourcing your soul;  it’s an integral part of your business, your culture, and your lifeblood. You give it away, you lose touch, and you’re left with little control over the single most important metric: growth.

When you’re in the early stages of building a business, your product is a moving target. It’s evolving, iterating, and refining with every user interaction. Sales is the frontline of feedback.

Your core team needs to be embedded in this process to understand customer pain points, needs, and preferences. This isn’t something you want to delegate to someone whose only stake is a paycheck and who has sold only standard easy-to-sell packs of banner inventory. When you outsource, you risk missing the unfiltered, raw insights that lead to better product decisions.

Also Read: How to use the psychology of gamification to grow e-commerce sales

If your team isn’t hearing customer objections, pricing concerns, and product feature requests firsthand, you’re disconnected from reality. That detachment slows progress. Salespeople aren’t just closers; they’re data gatherers who are essential to product development.

The dangers of outsourcing sales too early

Outsourced sales teams thrive on process, repetition, and predictability. But startups, especially in the early stages are messy, full of unknowns and pivots. Your product isn’t standardised yet, your customer base is still being defined, and your positioning is evolving. Outsourced teams excel at selling standardised packages, not fluid concepts that are in the experimental phase.

Outsourcing before you’ve hit a point of inflection, before your product has matured, can result in poor customer experiences and lost opportunities. Sales is more than just pitching; it’s about teaching and evangelising. You need people who know the company inside and out, people who are passionate about the mission, not mercenaries who are just passing through.

Outsourcing can often attract gravy train artists – people who’ve spent their careers selling established products, with clear price tags, to clients who already know what they want. They’re used to hopping on the train after it’s left the station, and they’re not the kind of people you want on your team. You’re in the trenches, grinding it out, and they’re just trying to make a quick buck by riding your coattails.

Startups demand hustlers who are comfortable with uncertainty, people who can roll with the punches and think on their feet. The gravy train artists are uncomfortable with ambiguity and friction; they don’t understand the hard work of creating something from nothing.

Then there are the “advisors” who promise to bring in big deals or land major clients if you just give them a few percentage points of equity. Here’s the truth: if someone is willing to trade their time for a sliver of your company, they’re not betting on your future; they’re hedging their bets on you doing the hard work. These promises are almost always smoke and mirrors. No one will sell your company as effectively as you and your core team will.

Your equity is sacred, and giving it away to anyone who says they can deliver isn’t just dangerous — it’s reckless. Save your equity for those who are in it for the long haul and who actually contribute to your growth in a measurable, tangible way.

Also Read: How to attract the first thousand users to your marketplace

Sales isn’t just another function, it’s a core strategic lever in your business. Handing it off too early is like outsourcing your product development or your culture. At the heart of every great startup is a deep connection between the team and the customer, and sales is the bridge that holds it all together.

Until you hit a point where your product is standardised, your customer base is defined, and you have repeatable, scalable processes in place, sales belong to the founders and the core team. Only then, once the foundation is solid, can you think about bringing in an external team to scale the operation.

Final thoughts

If you’re building a startup and are not hell bent on killing it in the first 12 months, keep sales in-house. Own it. Live it. Breathe it.

Sales is more than closing deals — it’s about learning, adapting, and pushing your company forward. You can’t outsource that. Not until you’ve hit that magical point of inflection where the sales process is so refined that it practically runs itself. You will know when you get there.

Until then, keep it close and beware of those who promise shortcuts, they’re almost always detours.

—

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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Image credit: Canva Pro

This article was first published on September 16, 2024

The post How to kill a startup in one move appeared first on e27.

Dear reader,

The Philippine startup ecosystem’s remarkable growth signals a maturing market increasingly attractive to global investors. The surge in deal flow, foreign direct investment, and digital innovation reflects a dynamic economy underpinned by strong fundamentals. With GDP growth surpassing regional peers and a burgeoning middle class driving consumer demand, the country presents a fertile ground for tech-driven entrepreneurship.

Fintech remains at the forefront, with digital payments gaining widespread adoption, while sectors like cleantech and digital health show immense promise. However, the lack of investors in the US$10–20 million range suggests a funding gap that could hinder startups seeking to scale. Bridging this gap will be critical to sustaining momentum.

Yet, challenges persist. Healthcare infrastructure remains inadequate, with medical inflation and workforce shortages posing systemic risks. The agricultural sector, despite its potential, struggles with productivity and financial inclusion. Likewise, MSMEs—integral to the economy—continue to face limited access to credit.

Government initiatives, combined with venture capital’s growing role, can help address these issues. As international confidence in the Philippines rises, sustained policy support and innovation will be key to ensuring the country’s tech ecosystem realises its full potential in the global market.

Sainul,
Editor.

—–

REGIONAL

Philippine startups break records in 2024: What’s driving the boom?
The Philippine startup scene is booming with record investments and fintech growth—but can it sustain momentum amid lingering challenges?

Singapore’s AnyMind completes acquisition of e-gifting company AnyReach
This marks AnyMind Group’s 10th acquisition and the fifth M&A of a Japan-based company | AnyGift allows online merchants to integrate e-gifting functionality into their checkout carts.

Malaysia approves US$29.64M initial funding for seven ECF, P2P platforms
The Ministry of Investment, Trade and Industry (MITI) said in a statement that the ECF platforms are pitchIN, Mystartr, Leet Capital, and Crowdo while the P2P platforms are Funding Societies Malaysia, CapBay, and B2B Finpal.

Granite Asia, Japan’s Integral Corporation form joint venture
The joint venture seeks to support high-growth technology companies entering the Japanese market | It also aims to assist Japanese firms in expanding internationally, particularly in Southeast Asia and other growth regions.

SEA embraces crypto payments, but security and merchant adoption lag
For 51% of respondents in the region, the speed and efficiency of transactions are the paramount reasons for embracing crypto payments | However, security risks were cited by 43% of users as a major barrier.

Millennials, Gen Z will shape 79% of SEA’s fintech landscape by 2030: Report
By 2030, UnaFinancial anticipates the total number of fintech users in the region to reach 505.6 million from the current 400 million.

Blibli posts 14% revenue growth in 2024
The Indonesian omnichannel commerce firm’s direct sales business grew 66% to US$51.89M | Meanwhile, its marketplace sales, including travel and lifestyle products on tiket.com, rose 26% due to higher customer demand.

SeaX Ventures unveils US$6M climate fund to back startups focusing on carbon reduction
SeaX Zero plans to invest in 15 to 20 startups by the end of 2025, deploying initial cheques between US$100,000 and US$500,000.

Flagright clinches US$4.3M to bolster AI-native anti-money laundering solutions
The investors include Frontline Ventures, Y Combinator, and Pioneer Fund | Flagright’s no-code platform offers a centralised solution encompassing dynamic risk scoring, automated case management, real-time transaction monitoring, and AML screening.

Singapore Deep Tech Alliance charts new course for impact-driven innovation
The SDTA has marked the past year with significant milestones, including the launch of a non-profit division, which is designed to leverage philanthropic and catalytic capital for projects outside the traditional venture capital model.

Singapore’s Elev8 Venture Partners leads US$50M funding round in smallcase
smallcase has developed a platform for model portfolios of stocks and ETFs, also called smallcases, for individuals to take a diversified approach towards building their long-term portfolios with full transparency and control.

1337 Ventures invests in Philippines-based Betterteem
Betterteem is a business intelligence platform that leverages AI to predict and mitigate employee resignations while enhancing workplace satisfaction | It has secured clients in Thailand, Singapore, South Korea, and the Philippines.

NUS expands BLOCK71 to Tokyo, strengthening Singapore-Japan deeptech collaboration
BLOCK71 Tokyo will serve as a crucial hub for Southeast Asian technology-driven startups seeking to expand into Japan | This follows the inauguration of its first Japanese location in Nagoya in November 2024.

Ex-software company Monday.com exec joins VC firm Entrée Capital
Yoni Osherov previously served as chief revenue officer at monday.com, where he helped scale the company from US$10M to over US$1B in annual recurring revenue | He was also part of the team that took the company public in 2021.

INTERNATIONAL

Elon Musk says xAI acquired X
The combination values xAI at US$80B and X at US$33B (US$45B less US$12B debt | The acquisition places X firmly under the umbrella of Musk’s AI startup, which he founded in 2023 to compete with OpenAI.

Trump says TikTok sale deal to come before Saturday deadline
Trump set the April 5 deadline in January for TikTok to find a non-Chinese buyer or face a US ban on national security grounds due to have taken effect that month under a 2024 law.

Blackstone reportedly eyes TikTok US minority stake
The discussions involve Blackstone potentially joining ByteDance’s non-Chinese shareholders, including SIG and General Atlantic | The proposal aims to restructure TikTok’s US business by spinning off its operations into a separate entity.

Taiwan releases first startup ecosystem report
The document indicates that there are 9,576 Taiwanese startups listed on FINDIT, a government-supported information platform | These startups operate in various sectors, including healthcare, media, entertainment, food, hardware manufacturing, and software.

OpenAI must go for-profit by 2025 to secure US$40B
If the restructuring isn’t completed within the year, the funding could be reduced to US$20B | The Wall Street Journal first reported this, stating OpenAI has been under a two-year timeline since its last financing round to complete the transition.

France fines Apple US$162M over app tracking transparency
France’s Competition Authority stated that the company’s App Tracking Transparency (ATT) feature unfairly disadvantages third-party publishers and advertising service providers | Apple is also required to publish the decision on its website for seven days.

Facebook ads promote illegal West Bank settlements
These ads included calls for demolishing Palestinian homes and fundraising for Israeli military units in Gaza | Meta said the ads were reviewed before being published, but did not clarify whether promoting illegal settlements violated its advertising standards.

Korean AI startup Wrtn raises US$73.5M Series B
The investors included Goodwater Capital, BRV Capital, and Antler | This marks the first time a Korean AI service platform outside the large-language model and semiconductor sectors has surpassed 100 billion won (US$67.76 million) in total investments.

ByteDance pressures US team as TikTok Shop falls short
TikTok’s shopping division failed to hit its goals in the US last year, and leadership is cracking down, company insiders told Business Insider | During a call, Bob Kang, the company’s China-based e-commerce head, singled out the US team as underperforming.

BYD targets 800K overseas EV sales by 2025
To address potential tariff challenges, BYD plans to assemble vehicles locally while sourcing key components from China | It’s building factories in Brazil, Thailand, Hungary, and Turkey but has no plans to enter the US or Canada due to tariffs.

SEMICONDUCTOR

From lab to fab: Inside Applied Ventures’s stage-agnostic deep tech investments
Applied Ventures’s Global Head Anand Kamannavar speaks about the key focus areas, investment criteria, trends, and expansion.

Malaysian chip designer SkyeChip secures investment from Gobi Partners
The funding will bolster SkyeChip’s talent acquisition, business expansion initiatives, and working capital | SkyeChip designs and develops semiconductors for cutting-edge applications in areas such as AI and high-performance computing.

AI boom drives increased demand for semiconductors: Industry leaders
According to industry leaders at the Nano Electronics Roadshow and Conference, they observed a sharp uptick in semiconductor consumption, with expectations for substantial growth moving forward.

ARTIFICIAL INTELLIGENCE

Unlocking your creativity and productivity with AI content tools
The secret is to recognise the obstacles to productivity and use cutting-edge technologies to go over them.

The creative revolution: AI’s role in the future of art
AI is reshaping creative industries, offering new tools while raising concerns about originality, copyright, and jobs.

Is AI the end of originality or a new dawn for creativity?
The future of creativity extends beyond adapting to AI; it’s about riding the wave to unlock new imaginative dimensions.

AI infrastructure: The unsung hero of technological innovation
While AI’s applications and ethics dominate discussions, the crucial infrastructure powering its development remains a silent force shaping our future.

Responsible technology and AI: Shaping Asia’s digital future
Hong Kong leads responsible AI development in Asia, balancing innovation with ethics through governance, transparency, and inclusivity.

THOUGHT LEADERSHIP

Interpreneurs: The key to successful global growth
Interpreneurs are an evolution of the agile innovators who operate within a distributed workplace that is becoming increasingly global.

From classroom to boardroom: How Singapore’s universities nurture future investment leaders
Singapore’s universities actively foster entrepreneurship and innovation skills among students, enabling them to thrive in dynamic business landscapes.

Beyond the pitch deck: How founders can leverage personal branding for startup success
Personal branding can be a game-changer for startups, attracting the right talent, securing crucial funding, and building a loyal customer base.

How Category Design drives productivity and efficiency
Category Design challenges you and your team to not only think bigger, but differently; it’s your opportunity to lead, not follow.

Mastering LinkedIn: Strategies for building a compelling personal brand
Highlighting three key questions professionals face when building a personal brand on LinkedIn, focusing on unique stories, visibility, and perception.

Doomscrolling, data, and decentralisation: Is social media finally ready for a change?
Endless scrolling harms mental health—can decentralised social media (DeSOC) break Big Tech’s grip and restore meaningful online connection?

Design for success: The entrepreneurial playbook for a competitive market
From breastfeeding struggles to a patented baby bottle design: How one mum-turned-founder built Hegen by listening, iterating and persisting.

Lifted by women, leading with gratitude
Grateful for the women who shaped my career, I now strive to lift others fostering inclusion, mentorship, and empowerment in every role.

Why startups fail: Lessons from immigrant entrepreneurs who beat the odds
Discover why most startups fail and how immigrant entrepreneurs succeed through resilience, adaptability, and strategic problem-solving.

US consumer confidence dips: How it’s hitting Asian stocks, crypto and beyond
Asian markets tread cautiously as Trump’s tariff plans loom, impacting stocks, currencies, and crypto amid shifting economic trends.

US tariffs vs crypto wins: An economic shift
Trump’s 25% auto tariff shakes markets, impacts industries, fuels crypto shifts, and raises big questions on trade, inflation, and policy.

Embracing sustainability: A circular design perspective on e-waste
Explore sustainable design’s impact on tackling e-waste, focusing on responsible product lifecycles and recycling for a greener future.

How fintech in Asia is enabling and making education affordable for everyone
Financing has always been the key barrier for enrolment and retention, and is a top-of-mind issue for schools.

Navigating the diverse crypto regulatory landscape in Southeast Asia
Cryptocurrency regulation and adoption in Southeast Asia vary widely, reflecting each country’s unique circumstances.

How to tackle employee mental health to build a resilient workforce
World Mental Health Day is the perfect opportunity to reflect on how organisations have supported their workforce.

The post Ecosystem Roundup: Philippine startups break records in 2024 | xAI acquires X | AnyMind completes acquisition AnyReach appeared first on e27.

Singapore-based business-process-as-a-service (BPaaS) company AnyMind Group has announced its tenth acquisition with the full takeover of AnyReach, a Japanese e-gifting company.

AnyReach will continue to operate under its existing brand name.

The integration of AnyReach is expected to yield significant synergies, accelerating AnyMind Group’s growth in the e-commerce and e-gifting space. By combining AnyGift with AnyMind’s existing e-commerce management platform, AnyX, and influencer marketing platform, AnyTag, the company aims to create enhanced value propositions for corporate e-commerce strategies and drive further market expansion.

Also Read: AnyMind Group sets foot in Malaysia by acquiring e-commerce enabler Arche Digital

Furthermore, AnyMind intends to leverage its extensive presence in Southeast Asia to facilitate the international expansion of AnyReach’s e-gifting solutions.

As part of the acquisition, AnyReach CEO Kosuke Nakajima will join AnyMind’s leadership team in Japan to spearhead a unified growth strategy.

This acquisition marks AnyMind Group’s fifth foray into the Japanese market through mergers and acquisitions since its inception in 2016. The company has strategically leveraged acquisitions to bolster its business foundation and expand its presence across 15 markets.

AnyReach’s flagship offering, AnyGift, enables online merchants to integrate e-gifting functionality directly into their checkout processes. The platform allows end-users to send both physical products and redeemable gifts without needing the recipient’s address.

Currently, over 700 companies in Japan utilise AnyGift.

This acquisition comes at a time when Japan’s e-commerce market is projected to reach approximately US$257 billion by 2027, indicating significant growth potential in the e-gifting sector.

Konosuke Nakajima, CEO of AnyReach, stated: “We founded AnyReach in 2021 with the mission to create a global e-gifting platform. In less than three years, AnyGift has been adopted by over 700 companies, solidifying its position in Japan. By joining forces with AnyMind Group, which operates in 15 countries and regions, we can expand globally and continue innovating beyond digital gifting, incorporating offline experiences as well. Together, we aim to build the world’s No.1 platform in the gift-tech industry.”

Kosuke Sogo, CEO and co-founder of AnyMind Group, commented: “With this acquisition, our 10th M&A deal and fifth in Japan, we are accelerating our expansion in the e-commerce space. By combining our technology and expertise in marketing and e-commerce with AnyReach’s e-gift platform, we will provide new value to enterprise e-commerce strategies, support brand growth, and deliver unique purchasing experiences to consumers worldwide.”

Also Read: AnyMind’s Q3 revenue surges 53% on strong D2C, e-commerce platforms growth

Founded in April 2016, AnyMind Group operates as a BPaaS company across marketing, e-commerce, and digital transformation. The company offers end-to-end solutions encompassing digital commerce, marketing, logistics, customer engagement, data and AI utilisation, publisher monetisation, and creator monetisation.

As of December 2024, the group serves over 1,000 enterprises for marketing, 176 enterprises for e-commerce, 1,818 publishers, and 2,900 creators, with over 1,900 staff across 24 offices in 15 markets, including several in Southeast Asia.

AnyReach, established in 2021, also operates AnyGift Wedding, a wedding gift selection service, and AnyCampaign, a digital gift service for corporate promotions.

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