The Hong Kong Trade Development Council (HKTDC) will host two prominent exhibitions from 13-16 April 2026 — InnoEX and Electronics Fair (Spring Edition) at the Hong Kong Convention and Exhibition Centre, presenting global innovation and technology (I&T) achievements, latest electronics products and advanced technology solutions.

Industry professionals, investors, buyers, and technology users from different sectors, including SMEs are encouraged to attend the fairs. In 2025, the two fairs successfully brought together more than 2,800 exhibitors from 29 countries and regions. It also attracted around 88,000 industry buyers from 148 countries and regions. 

Secure your spot and register now to be part of the global innovation showcase.

InnoEX highlights innovation focus and industry partnerships

InnoEX is a core event of the Business of Innovation and Technology Week, driven by the Innovation, Technology and Industry Bureau of the HKSAR Government and the HKTDC, showcasing cutting-edge technologies and global innovations. Under the theme of “Innovate • Automate • Elevate”, InnoEX 2026 will spotlight five dynamic areas. These are: AI+, Robotics, Low-altitude Economy (such as unmanned aerial vehicle and electric vertical take-off and landing aircraft), Property Technology, and Retail Technology.

Last year, the fair successfully helped buyers and exhibitors establish important partnerships. Philippine buyer Digital Pilipinas and International Digital Economies Association signed a distribution agreement with the United Kingdom’s exhibitor Unifi.id. They will introduce its smart card system for buildings to the Philippines, with hopes of expanding into other emerging markets in the future.

Xi’an Meinan Biotechnology Co. Ltd also signed a strategic cooperation agreement with H & Y Building Decoration Electrical Engineering (HK), aiming to enhance the quality of construction projects in Hong Kong and internationally by utilising Meinan’s waterproof mortar technology, promoting sustainable development.

Electronics Fair expands global tech showcase and product zones

Entering its 22nd edition, the Electronics Fair (Spring Edition) continues to connect international exhibitors with buyers worldwide, displaying groundbreaking electronics products and solutions aligned with evolving tech trends. The 2026 fair will spotlight products and solutions in the sectors of Smart Home & Solutions, Health Tech and Pet Intelligence.

The fair will host over 20 product zones, including the Hall of Fame that will feature more than 500 global renowned electronics brands and their creation; the Tech Hall will showcase next-generation electronics and modern lifestyle solutions; the Immersive Experience Zone will offer visitors hands-on experiences with wearable technology and interactive games; and the Start Up Zone will highlight the latest innovations and creative ideas from entrepreneurs. 

Other thematic product zones will cover categories such as Energy Storage & E-mobility, Home Appliances, Audio-Visual Products, Computing & Gaming, Automotive & In-Vehicle Electronics, and more.

Also read: Innovation on display: Discover the tech shaping Asia’s future at Hong Kong’s leading fairs

Exhibitor momentum and robotics innovation take centre stage

Shenzhen Antop Technology Co. from Chinese Mainland, exhibitor of last year’s Electronics Fair stated, “We have made contact with many potential buyers from India and South America at the exhibition, and in the first two days, we received about 50 potential leads, with at least one third showing significant collaboration potential.”  The company was also discussing a contract for an order valued at approximately USD2.5 million. Additionally, Hong Kong medical technology exhibitor CYBERMED, discussed business deals with two buyers from Mainland China and the Middle East, with each order valued at approximately USD200,000.

The two fairs will also introduce the RoboPark, unveiling robots’ potential and innovations through immersive scenario-based demonstrations and live robotics performances. From humanoids and robotic arms to quadrupeds and autonomous mobile robots, visitors can explore how robotics is reshaping business, daily life, healthcare, and industries today.

During the fair period, forums, presentations, and other events will be held. Experts are invited to share insights and provide valuable networking opportunities for industry professionals. Additionally, start-ups will have excellent platforms to promote innovative ideas, seek support from investors, and gain advice from experts on business development.

Hybrid exhibition format and digital networking opportunities

The fairs will be held in EXHIBITION+ hybrid model, complemented by the “Click2Match.” It is an online smart business matching platform that will operate from 6 to 23 April. This provides a convenient and efficient platform for traders to connect. In addition, the “Scan2Match” function also enables offline-to-online connections. By using the HKTDC Marketplace App, buyers can scan the dedicated QR codes of exhibitors to bookmark their favorite exhibitors, browse product information, view e-floor plans, and chat with exhibitors even after the fair to continue the sourcing journey. 

Register now for free admission.

For more details, please visit the fair websites at InnoEX and HKTDC Hong Kong Electronics Fair (Spring Edition).

13 – 16 April 2026: Hong Kong Convention and Exhibition Centre

 6 – 23 April 2026: Click2Match (Online)

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Major US stock indices climbed on Tuesday, February 10, 2026, thanks to a strong rebound in technology shares that calmed worries about recent spending on artificial intelligence. Investors watched the S&P 500 rise 0.5 per cent to close at 6,964.82, inching nearer to the all-time high from two weeks earlier. The Nasdaq Composite, heavy with tech stocks, jumped 0.9 per cent to 23,238.67, while the Dow Jones Industrial Average barely moved, adding less than 0.1 per cent to end at 50,135.87.

This uptick came after a tough stretch last week, where tech stocks faced heavy selling. Chipmakers drove much of the recovery, with Nvidia gaining 2.4 per cent and Broadcom advancing 3.3 per cent. Oracle stood out with a sharp 9.6 per cent increase. These moves highlighted how quickly sentiment can shift in the tech sector, especially amid ongoing debates about AI investments.

Beyond US markets, international developments added to the positive tone. Japan’s Nikkei 225 reached a fresh all-time high, surging 2.8 per cent after the incumbent government secured a historic election mandate. This boost reflected growing confidence in Japan’s economic policies and stability. Treasury yields stayed calm, with the 10-year note holding near 4.20 per cent.

Traders largely ignored news that China encouraged its banks to reduce holdings of US Treasuries, suggesting that markets focused more on domestic factors. In commodities, gold dropped about 0.7 per cent to US$5,023.82 per ounce, while West Texas Intermediate oil fell 0.4 per cent to US$64.13 a barrel. Traders kept an eye on potential supply disruptions in the Strait of Hormuz, but no immediate threats materialised. Bitcoin hovered just under US$71,000, steady after briefly topping that mark over the weekend.

Attention now turns to key economic data releases. Retail sales figures arrive on Tuesday, and CPI inflation numbers follow on Friday. These reports will shape expectations for the Federal Reserve’s next interest rate move. Investors have begun shifting some funds into real-economy sectors, and demand for AI-related tech stocks remains robust, supporting overall index levels. This rotation shows a market balancing innovation hype with practical economic signals.

From my perspective, this setup feels like a fragile equilibrium. The tech rebound offers relief, but if upcoming data disappoints, volatility could return swiftly. Markets often overreact to hints of inflation, and with AI spending under scrutiny, any sign of cooling could pressure gains.

Also Read: Markets on edge: AI rally fizzles as crypto plunges below US$2.42 trillion

In cryptocurrencies, the market edged up 0.28 per cent to a total capitalisation of US$2.4 trillion over the last 24 hours. This modest gain marks a brief halt after a steep downtrend, aligning closely with traditional stocks. A strong 89 per cent correlation with the S&P 500 points to shared influences from broader economic relief. Bitcoin’s tentative support after a 46 per cent drawdown stands as the main driver. Selective institutional buying has helped stabilise prices.

Secondary factors include sharp pumps in smaller altcoins and slightly upbeat social sentiment around Ethereum accumulations. Looking ahead, the market’s strength depends on Bitcoin maintaining the US$65,000 to US$70,000 range. Dropping below that could push prices back to the US$60,000 yearly low.

Bitcoin’s stabilisation follows a brutal capitulation phase. The total market cap tries to hold at US$2.4 trillion after plummeting 46 per cent from its October 2025 peak. This aligns with Bitcoin testing a critical historical support at the 1.25x realised price level, which historically divides regular corrections from deeper selloffs. The small uptick indicates that the intense selling from January and early February might ease, paving the way for a technical rebound.

Investors should closely monitor Bitcoin’s defence of US$65,000. A failure there might spark fresh liquidations, extending the pain. In my view, this support level acts like a psychological floor. Historical patterns suggest bounces often follow such tests, but current macro uncertainties make outcomes less predictable. The correlation with stocks amplifies risks, as any equity dip could drag crypto lower.

Speculative activity and changes in sentiment add layers to the recovery. While the overall market stayed flat, low-cap altcoins like GPS, AXS, and ZKP surged 20 per cent to 75 per cent on large volume. This shows capital flowing into riskier bets for fast profits, though it falls short of a full altcoin rally. Social sentiment for assets like Ethereum improved to a mildly bullish 4.83 out of 10. On-chain data reveals significant accumulations by major players, such as Bitmine.

For instance, Bitmine, linked to Tom Lee of Fundstrat, recently acquired another 20,000 ETH valued at US$41.08 million from FalconX’s hot wallet. This transaction, highlighted in on-chain tracking, fits a pattern of inflows. Just six days earlier, Bitmine received another 20,000 ETH worth US$46.04 million from the same source. Over the past two weeks, additional batches included 40,320 ETH at US$113.39 million, 38,400 ETH at US$107.99 million, 30,720 ETH at US$86.39 million, another 38,400 ETH at US$107.99 million, 28,800 ETH at US$80.99 million, 26,880 ETH at US$75.59 million, 30,720 ETH at US$86.39 million, 34,560 ETH at US$97.19 million, and 23,040 ETH at US$64.79 million. These moves signal structured buying by institutions, boosting short-term confidence.

Community reactions underscore this as smart money at work. Observers note the buys as strategic positioning rather than random trades. One commenter compared it to aggressive corporate strategies in crypto, while others highlighted the scale of the accumulation amid market fear. Ethereum’s positive whale activity provides a counterweight to broader caution.

From where I stand, these accumulations reveal an underlying belief in crypto’s long-term value. Institutions like Bitmine spot opportunities in dips, betting on future growth. This contrasts with retail hesitation, resulting in an uneven recovery. If more entities follow suit, it could spark broader buying, but isolated actions might not sustain momentum on their own.

Also Read: Fear and greed at 28: Why traders are fleeing crypto right now

The near-term outlook remains guarded. Two key elements will determine the path: Bitcoin’s push to reclaim and defend the US$73,000 resistance level, and the flow direction in US spot Bitcoin ETFs after recent net outflows. The Fear and Greed Index sits at 10, indicating extreme fear, which often precedes relief rallies when buying picks up. Holding above US$70,000 might drive the total cap toward US$2.5 trillion over time.

Without consistent spot demand, prices could revisit last week’s lows near US$60,000. Upcoming stock market data ties in here, as retail sales and CPI could sway Fed decisions, indirectly affecting crypto through risk sentiment. My take is that this moment offers a chance for stabilisation, but fragility persists. The 46 per cent drawdown scarred investors, and rebuilding trust takes time. If Bitcoin holds its ground, we might see a slow grind higher, fuelled by tech’s AI tailwinds and institutional dips.

In conclusion, today’s market action reflects cautious stabilisation across assets. Stocks rebounded on tech strength, easing AI concerns, while crypto paused its slide with help from Bitcoin support and selective buys. The interplay between traditional and digital markets grows clearer with that 89 per cent correlation. Institutional moves, like Bitmine’s ETH hauls, inject optimism, but the outlook hinges on key levels and data.

I see potential for a relief bounce if supports hold, and I warn against overconfidence. Extreme fear levels suggest upside if sentiment flips, but macro headwinds loom. Traders should watch Bitcoin’s US$65,000 to US$70,000 zone closely, as it will dictate whether this uptick endures or fades. Overall, markets catch their breath after tough times, setting up for pivotal days ahead.

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Singapore has mounted its largest coordinated cyber incident response effort to date after a sophisticated threat actor was found targeting the nation’s telecommunications backbone — the systems that keep everything from banking OTPs to government communications moving.

In a joint update on Monday, the Cyber Security Agency of Singapore (CSA) and the Infocomm Media Development Authority (IMDA) revealed details of a multi-agency operation, Operation CYBER GUARDIAN, launched to counter an Advanced Persistent Threat (APT) actor tracked as UNC3886.

Also Read: After cyber attacks, silence can be the biggest brand killer: Penta’s Dan La Russo

Over 100 cyber defenders across CSA, IMDA, CSIT, the Digital and Intelligence Service (DIS), GovTech and the Internal Security Department (ISD), working alongside the country’s four major telcos: M1, SIMBA Telecom, Singtel, and StarHub, are involved in the operation.

The target set matters. Telcos are not “just another industry”; they are the connective tissue of a digital economy. If an attacker can burrow into telecom networks, they can potentially observe or manipulate traffic, map relationships, and position themselves for follow-on attacks, including against other critical sectors that rely on telecom infrastructure.

How the attackers got in, and what the scale looked like

CSA and IMDA characterised the campaign as “deliberate, targeted, and well-planned”, consistent with what cyber defenders typically expect from APT groups: patient intrusions designed to stay hidden long enough to extract strategic advantage rather than to smash-and-grab.

The agencies disclosed two key intrusion methods used by UNC3886:

1. In one case, the attacker used a zero-day exploit to bypass a perimeter firewall, gaining access to telco networks. They “managed to exfiltrate a small amount of technical data”, believed to be network-related data intended to advance the actor’s operational goals.
2. In another case, the attacker used rootkits and other advanced techniques to maintain persistent access, cover tracks, and evade detection — forcing defenders to perform comprehensive checks across networks to identify and flush out the intruder.

This is the uncomfortable truth of modern telecom security: even well-defended networks can be penetrated when attackers chain together previously unknown vulnerabilities, stealth tooling, and deep operational discipline.

As for the scale, the statement stops short of providing counts of compromised devices, affected sites, or dwell time per environment — likely because those details can help adversaries refine their methods.

What it does confirm is significant on its own:

• All four major telcos were targeted.
• The threat actor gained unauthorised access into some parts of telco networks and systems.
• In at least one instance, the actor obtained limited access to critical systems, but “did not get far enough to have been able to disrupt services”.

That combination — confirmed intrusion, but no confirmed customer data theft and no service disruption — points to a campaign that looks more like strategic reconnaissance and positioning than immediate monetisation. In other words, this was not a typical ransomware crew looking for a quick payday. It was closer to an adversary trying to understand, persist, and potentially hold options open.

Why a multi-agency operation is essential, and what it actually delivers

A telecom intrusion is not a “single-company incident” once it crosses certain thresholds. It becomes a national security problem because telecom networks intersect with emergency services, government communications, financial services, and the everyday operations of millions of residents and businesses.

Also Read: Southeast Asia’s cyber boom is fuelled by fear—and AI

That is why a multi-agency operation matters — not as bureaucratic theatre, but as a practical requirement:

• Speed and coordination across four telcos: When multiple operators are targeted, defenders need a unified view of tactics, techniques and procedures (TTPs) to prevent a whack-a-mole response where attackers simply hop to the next environment.
• Broader intelligence picture: Agencies such as ISD, DIS and CSIT can contribute threat intelligence and analytical capabilities that typical enterprise security teams may not have access to — especially for state-linked or state-grade actors.
• Specialised technical muscle: Rootkits and stealth persistence can require deep forensics, network-wide threat hunting, and high-confidence remediation. Coordinating that at national scale demands extra manpower and specialist tooling.
• Clear incident command: A large incident needs disciplined governance: who makes decisions, how evidence is handled, how remediation is sequenced, and how communications are managed without tipping off the attacker.

So what results will Operation CYBER GUARDIAN yield?

The agencies say defenders have:

• Limited the actor’s movement within networks;
• Implemented remediation measures and closed off access points;
• Expanded monitoring capabilities in the targeted telcos;
• Increased ongoing activities such as joint threat hunting, penetration testing, and “levelling up of capabilities”.

In plainer terms: the operation is intended to produce a cleaner network, fewer blind spots, and faster detection-and-response if UNC3886 attempts to re-enter — which the agencies explicitly warn may happen.

Has Singapore seen similar attacks before — and what does the world tell us?

Singapore has faced major cyber incidents in the past, including the 2018 SingHealth breach, which highlighted how determined attackers can target systems holding sensitive information. While that case was not a telecom network intrusion, it did shape the country’s posture around critical systems and the reality that sophisticated adversaries will target high-value national assets.

Globally, critical infrastructure has repeatedly been in the crosshairs. A few widely cited examples illustrate the spectrum of risk:

• Ukraine’s power grid attacks (2015/2016): Demonstrated that cyber operations can translate into real-world disruption.
• WannaCry (2017): Showed how fast-moving malware can cripple essential services, including healthcare systems.
• SolarWinds supply-chain compromise (2020): Proved that attackers can infiltrate many organisations at once by compromising a trusted supplier, then quietly expand access over time.
• Colonial Pipeline (2021): Underlined how cyberattacks can trigger broader economic and social disruption even when the target is not “digital-only”.

Telecommunications firms, in particular, have long been attractive to sophisticated actors because they sit on metadata, routing infrastructure, and signalling systems, and because compromising them can create downstream access to other targets.

Against that global backdrop, CSA and IMDA’s emphasis that this incident has “not resulted in the same extent of damage as cyberattacks elsewhere” reads as both reassurance — and a reminder that the ceiling for harm can be very high.

Does this incident bring ignominy to Singapore and its government?

Not in the way that term implies.

A headline-grabbing breach can feel like reputational damage, especially for a country that markets itself as a trusted digital hub. But sophisticated APT intrusions are not a simple scoreboard of competence versus incompetence; they are an ongoing contest between defenders and adversaries with significant resources.

Two points stand out from the government’s disclosure:

• Detection and escalation happened: The activity was “initially detected by the telcos”, which then notified IMDA and CSA — a sign that monitoring and reporting pathways functioned.
• Containment without confirmed service disruption or customer data theft: Based on the information shared, the operation prevented the incident from turning into a nationwide outage or confirmed mass data compromise.

Also Read: Are cyber attacks more life-threatening than we think?

If anything, the choice to disclose the operation — while holding back specifics that could compromise defences — signals an attempt to balance transparency with operational security.

Minister for Digital Development and Information Josephine Teo, speaking at an engagement event for cyber defenders involved in the operation, underscored the stakes and the shared responsibility. She said, “Your actions, or inaction, can determine whether we succeed or fail in protecting our critical infrastructure, and our national security. I urge all of you to continue investing in upgrading your systems as well as your capabilities”.

The broader message is clear: this is not a one-off firefight. It is a long campaign. And because telcos are “strategic targets for threat actors, including state-sponsored ones”, Singapore’s defence has to be equally strategic — spanning government, industry, and the broader cybersecurity ecosystem.

Operation CYBER GUARDIAN is, in effect, Singapore treating telecom cyber defence like what it is: national resilience work, not just IT housekeeping.

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“In the ever-evolving technology landscape…” — If you are an avid consumer of business content, I’m sure you encounter this phrase quite a bit these days! The phrase has become the de-facto opening for many B2B blogs, particularly after 2022 — the milestone year ChatGPT was introduced. The GenAI tool helped both writers and non-writers alike to escape the dreaded blank page. In doing so, it has unleashed a certain homogeneity that can put us off and might even lead us to suspect that the content is AI-generated. 

Gen AI’s twisted impact on creative content

AI tools no longer belong to just the techies and geeks. Today, we have a flurry of AI tools across writing, graphic design, product design, fashion design, photography, music, podcasts, and video production. These tools don’t just provide a decent starting point but also assist users at every stage, accelerating their creative production process.

Tools such as DALL-E, Mid-journey, and ChatGPT have dramatically sped up traditionally time-consuming design processes. Adobe’s recent move to add GenAI capabilities, enabling image creation using simple text prompts, seems like a significant step forward.  What’s interesting is Adobe intends to pay the original creators of those stock images.

And here is a game changer for music enthusiasts and creators. Aviva — an AI music-generation assistant allows you to generate new songs in more than 250 different styles in a matter of seconds. On the visual side, Luma AI’s dream machine, which is now open to the public, generates realistic and aesthetic AI videos from text and images. 

Many exclaim these tools are democratising access to professional-level creativity.

But here is the twist! If GenAI drives a never-before-seen acceleration in meaningful content production, it also contributes to AI-generated noise that lacks flavour or nuance or an authentic creative flair that catches the eye. 

Think about it — if everyone is using the same AI tools, trained on similar datasets — how would the content truly stand out, unless obviously that content — be it text, image, or video is embedded with a unique human voice? 

How can GeAI solutions solve chaos and amplify new order?

GenAI’s twisted impact on the creative workforce

Unlike other innovations in the past, which have fundamentally automated mundane, repetitive work, GenAI is inherently a creative tool that promises to automate creativity, albeit in parts. For many professional creators, the entry of GenAI was confusing. They initially demonstrated a viscerally negative reaction, but a couple of years down the time, they have begun to realise the positive impact it has on their work. 

A recent online survey by 99designs, involving 10,000 freelance designers, highlights a significant positive shift in attitudes toward generative AI as the technology becomes mainstream. The study reveals that 52 per cent of designers now use generative AI tools, up from 39 per cent in 2023. Notably, 39 per cent of respondents believe AI will positively influence their careers in the long run, compared to 29 per cent who fear it may have a negative impact. 

But once again, let me introduce the sinister twist here: The 29 per cent seem to be right, because according to Harvard Business Review, there has been a 17 per cent drop in jobs tending to visual design in the past year. Writers on the other hand faced a 30% reduction in jobs in the same year. The research clearly says the trend is likely to continue as AI would not just be a helpful assistant but also replace some of the creative jobs spanning writing, imaging, and even software coding. 

Also Read: Revolutionising retail: A blueprint for future success

Based on the above we can draw two possible conclusions:

• Experienced creators increasingly view AI as a creative ally. They use the tool predominantly for idea generation, gaining a head-start into projects as well as completing low-stakes iterative tasks, where the output can be easily verified. 
• Beginners, on the other hand, might be finding it tricky to surpass business leaders and decision makers  who increasingly believe that GenAI  minimises the need for a larger creative workforce. 

How can GenAI solutions solve chaos and amplify new order among the creative workforce?

GenAI — A friend or foe to the future workforce? 

Though many educators still believe GenAI is the wild wild west, it’s hard to miss that the technology has quietly become a staple in most students’ academic tool kit. Research highlights that 86 per cent of today’s students — the future workforce — already use GenAI in their studies, with 25 per cent doing so every day. 

GenAI has shown tremendous potential to personalise student learning and spark creative exploration. However, the biggest concern most educators/evaluators have is that students use the tool to instantly complete their assignments with the least effort. Gen Y and Gen X teachers, who have seen the transition from traditional to technology-based learning, fear students might become over reliant on the technology, losing their critical problem solving skills and the ability to think independently. This is what some students report as a “fixation of the mind”– inability to think beyond AI ideas and generate original concepts.  

This calls for a thoughtful and balanced approach to integrating AI into classrooms, presenting a promising opportunity for businesses to develop novel generative AI solutions tailored to education. 

How can GenAI solutions solve chaos and amplify new order among the future workforce?

Manipulated media — GenAI’s twisted impact on content consumption

Instagram, which helps millions of influencers monetise their content, is witnessing a proliferation of AI-generated influencers. These AI personas are stealing videos from real models, replacing faces with AI generated ones to create deepfakes. Ultimately, they profit from these manipulated videos by  linking them to dating platforms and various AI-based apps. While genuine human influencers will now have to compete with AI-generated influencers, the bigger concern is the ramifications on consumers. Could they be misled in dangerous ways? 

In an effort to curb misinformation before the election, Meta, earlier this year, proactively began tagging social media content using the “Made with AI” labels. However, soon after when multiple meta users complained that their human-generated images were incorrectly labeled, the company changed to a more subtle “AI info” label. 

We are seeing a clear tug of war between the proliferation of deepfake content and their detection. As deepfake capabilities continue to evolve, it opens up significant opportunities for enterprises and Independent Software Vendors (ISVs) to innovate. They can develop generative AI solutions that empower consumers to proactively flag AI-generated content, helping steer media consumption away from misinformation and disinformation. 

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

But not everything is sinister with GenAI in the media. 

Daisy, an AI granny, attempts to strike a balance by scam-baiting hackers. The revolutionary human-like chatbot works by answering calls in real-time, mimicking human conversations to make hackers believe they are conversing with a human, when in fact, Daisy would be wasting the scammer’s time, ultimately reducing the number of scams attempted. 

Even deepfakes as a technology has shown to have tremendous potential to create content otherwise not feasible. It has been employed in production to de-age actors, synchronise actors’ lip sync and movements in multiple languages, and even bring historical figures to life. 

How can GenAI solutions solve chaos and amplify new order in media 

Here’s a technical low down on how the AI models mimic human creativity

The venture capital world is quietly rewriting its definition of a successful exit. With IPO windows opening and closing at the whim of macro headlines, liquidity has shifted from being an endgame to something founders and investors now engineer along the way.

The 2025 Endeavor Catalyst Annual Report makes this clear: secondaries are no longer a niche workaround but a core mechanism keeping capital moving.

For Southeast Asia, this evolution feels less like disruption and more like adaptation. The region is full of mature venture-backed companies that are operationally strong yet cautious about listing into uneven, fragmented public markets. When public comps wobble, an IPO can reset valuations in ways that hurt both private investors and long-term strategy. Secondary sales offer a pressure-release valve—returning capital to early funds, giving employees a chance to monetise equity, and introducing new investors without surrendering control or timing to market sentiment.

What matters now is execution. Well-structured secondaries demand pricing discipline, governance clarity, and careful communication to avoid cap table chaos. Done right, they allow companies to stay focused on fundamentals rather than chasing an uncertain listing.

The message for Southeast Asia is pragmatic: liquidity doesn’t have to wait for the perfect IPO moment. In today’s market, secondaries are not a compromise—they’re part of a more flexible, resilient venture playbook.

REGIONAL

Inside Singapore’s biggest telecom cyber defence operation: The island nation launched its largest-ever cyber defence operation after advanced attackers targeted telecom networks, prompting a coordinated national response to contain intrusions, protect critical infrastructure, and strengthen long-term cyber resilience.

SLEEK EV’s US$8.5M Series A funding signals a more mature EV playbook: SLEEK is explicitly framing itself as more than an EV manufacturer. Its long-term ambition is to become “APAC’s trusted full stack EV motorcycle Operating System”, where “partners collaborate, data compounds, and actions convert to a new way of urban mobility.”

VinFast officially enters Indonesia’s e-scooter market with strategic dealers: VinFast will begin rolling out its distribution network in the Jabodetabek area — Indonesia’s largest economic and urban centre — from the second quarter of 2026, with plans to expand to other regions nationwide.

Khazanah’s Jelawang Capital backs more than ten startups with over US$7.64M capital: Khazanah reported resilient FY2025 performance, with MYR105 billion net assets and 5.2% returns, while Jelawang Capital backed 10 startups, crowding-in MYR30 million and advancing Malaysia’s transformation, semiconductor, and AI growth.

Why Hyperbond is betting US$500K on romance-driven language learning: Singapore’s Hyperbond Studio launched Call Me Sensei, an AI companionship language app using romantic-style scenarios, and raised US$500K. It plans expansion, multilingual growth, and voice upgrades via a partnership with MiniMax.

REPORTS, FEATURES & INTERVIEWS

When IPOs freeze, liquidity finds another way: As IPO markets remain uncertain, venture capital is shifting toward secondary sales for liquidity. Endeavor Catalyst’s 2025 report shows exits surging, a trend resonating in Southeast Asia’s mature startups seeking returns without rushed listings.

Finding the right co-founder involves having tough conversations–and a great sense of humour: Starting a business often hinges on choosing the right co-founder. Founders and investors stress shared vision, trust, resilience, and complementary strengths, backed by clear agreements and planning early for conflict, exits, and continuity.

Trust remains travel’s defining currency: Inside travel’s next operating model at MarketHub Asia 2026: Global travel demand is resilient heading into 2026, but MarketHub Asia signals a shift toward optimisation, trust, AI deployment, cybersecurity resilience, and managing fragmentation across payments and regulation.

INTERNATIONAL

Databricks CEO says SaaS isn’t dead, but AI will soon make it irrelevant: SaaS companies that embrace the new LLM interface could grow, as Databricks is doing. But it also opens up possibilities for AI-native competitors to offer alternatives that work better with AI and agents.

TikTok projects APAC’s creator commercial contribution to reach US$1.2T by 2030: The growth will be driven by authentic content that boosts purchase intent, with AI tools helping brands scale creator-led marketing efficiently. Beauty & fashion, gaming, financial services, apps, and consumer electronics are emerging as key areas of growth.

Anthropic’s India expansion collides with a local company that already had the name: Anthropic’s India expansion has triggered a trademark dispute, with local firm Anthropic Software claiming prior name use since 2017 and customer confusion, seeking damages as court proceedings continue without interim injunction.

Crypto.com places US$70M bet on AI.com domain ahead of Super Bowl: The deal, paid entirely in cryptocurrency to an unknown seller, shatters previous records. Crypto.com founder Kris Marszalek plans to debut the site during Sunday’s big game, offering consumers a personal AI agent for messaging, app usage, and stock trading.

CYBERSECURITY

In Southeast Asia, cybersecurity is booming but funding is not: Tracxn research reveals that across the ASEAN region, cybersecurity startups raised US$24M across three rounds in 2025, a 40% decline from 2024 levels, when the sector pulled in US$40.1M. The number of rounds shrank as well, falling from 7 in 2024 to 3 in 2025.

After cyber attacks, silence can be the biggest brand killer: Penta’s Dan La Russo: The whitepaper warns cyber breaches are leadership crises, where poor communication destroys trust faster than technical damage. Early acknowledgement, transparency, internal coordination and visible leadership are essential to contain reputational fallout.

Bridging healthcare and cybersecurity: How women are challenging stereotypes in tech: Global venture capital is shifting from unpredictable IPO exits to secondary deals, enabling liquidity for investors and employees as mature Southeast Asian startups stay private longer.

SEMICONDUCTOR

Taiwan rejects US push to shift 40% of chip production: Taiwan’s international expansion, including its investments in the US, is predicated on the notion that the industry remains’ rooted in Taiwan and continues to expand domestic investments, Vice Premier Cheng Li-chiun said.

TSMC January revenue rises 37% on AI chip demand: TSMC, which also produces chips for Apple, has been one of the biggest beneficiaries of a surge in artificial intelligence-related investment, due to its role in manufacturing advanced AI accelerators.

SK chief meets Nvidia CEO in US to discuss HBM, AI cooperation: The meeting took place earlier this month in California. Observers believe the two sides discussed supply plans for HBM4, the next generation of HBM expected to be used in Nvidia’s upcoming AI accelerator, named “Vera Rubin.”

AI

Google expands AI investments in Singapore: Building on the recent opening of the Google DeepMind research lab in Singapore, the firm is expanding its local R&D footprint by investing heavily in human capital — scaling specialised teams across software engineering, research science, and UX design.

AI is leaving the screen and entering the real world: Endeavor’s 2025 report shows hardware surging as venture capital’s second-largest sector, as AI shifts from software to physical systems powering robotics, chips, infrastructure, and automation globally across industries and regions.

The AI mirage: Why your stack isn’t the secret to scaling in 2026: AI adoption is nearly universal, but real value remains rare as complexity rises. With tech commoditised, founder success hinges on human intelligence—discernment, emotional resilience, and vertical leadership development.

AI helps, but systems and people hold the key to Asia’s decarbonisation: Asia’s climate risks demand decarbonisation beyond tech hype, combining AI as a force multiplier with integrated infrastructure, systems thinking, collaboration, and human talent to turn data into resilient, low-carbon cities.

THOUGHT LEADERSHIP

The era of ‘black box’ pricing is over: Why transparency is the new currency in B2B marketing: In 2026, pricing strategy shifts from opaque algorithms to explainable AI, turning transparency into a core sales and marketing advantage.

Crypto market cap hits US$2.4T again: Why institutional whales are buying the dip: US stocks rose as tech rebounded, easing AI spending fears. S&P 500 gained 0.5%, Nasdaq jumped 0.9%. Nvidia, Broadcom and Oracle led. Japan rallied. Investors await retail sales and CPI data.

You’ve seen OpenClaw, Clawdbot, and Moltbook everywhere: Here’s why agentic AI suddenly feels real: OpenClaw and Moltbook reignited agentic AI hype by showcasing proactive, locally run assistants, but real-world use exposes gaps in reliability, security, and operational control challenges.

Revisiting “Something Ventured”: What the birth of VC still teaches Founders today: Something Ventured traces venture capital’s origins as an act of belief and partnership. It contrasts today’s transactional funding culture with early investors backing vision, patience, and founders—reminding startups that trust still matters most.

The cold logic of the angel: Stop funding dreams, start funding plumbing: New angel investors fall for dazzling pitches and lose money. Smart investing underwrites scalable machines: real pain solved, disciplined operators, and repeatable systems for sales, hiring, support, and product execution.

Startups vs regulators: How new rules are reshaping digital finance: As Southeast Asia tightens fintech regulation, licensing scarcity, crypto supervision, and data rules reshape funding, pushing startups toward compliant infrastructure, partnerships, and regulated business models over rapid, permission-later growth strategies.

The post Ecosystem Roundup: When IPOs freeze, liquidity shifts; Singapore’s biggest telco cyber defence operation; SEA cybersecurity is booming, but funding isn’t appeared first on e27.

Cross-border investments can be exciting, promising new markets, higher yields, and early-mover advantages. But they also create the perfect environment for sophisticated scams — not the cartoonish, obvious kind, but the polished, professional, “opportunity of a lifetime” kind.

These schemes don’t rely on tricks. They rely on the information gaps between what the seller knows and what the buyer cannot see.

To protect yourself, you need to understand the forces that make overseas investors so vulnerable.

The information asymmetry trap

In any foreign market, one side always knows more than the other.

The seller understands the truth: the real demand, the actual rental market, the liquidity issues, the regulatory loopholes, the financial health of the developer, and the stability of the banking system.

The buyer sees: a brochure, a yield projection, a glossy showroom, and a confident salesperson.

This imbalance is not an accident — it’s the basis of the entire sales pitch.

When you cannot verify the claims, the narrative fills the gap.

And narratives are easy to manipulate.

The market for lemons problem (Akerlof)

Economist George Akerlof described a phenomenon where bad products push out good onesin markets where buyers cannot tell the difference.

In markets where it is hard to verify quality, low-quality sellers dominate.

Overseas property is a textbook example.

Overseas real estate suffers from:

• Unverifiable valuations
• Misleading “yield guarantees”
• Incomplete projects
• Poor rental demand
• Inflated numbers masked by currency difference.

Good projects take years to mature. Scams close fast.

Good developers can’t promise unrealistic returns, but scammers can — so they win the customer first.

When buyers cannot distinguish between a good project and a bad one, they default to the one with the best-looking sales pitch.

Also Read: SEA startup investments rise for second month, totalling US$287M in Oct

This creates a market full of:

• Overpriced units
• Non-liquid assets
• Speculative “ghost cities”
• Investors who cannot exit

It isn’t your fault — the market itself is designed to trick you.

The result: buyers end up choosing the offer with the strongest story, not the strongest fundamentals. This is why so many investors end up with units they cannot rent, cannot sell, and cannot even give away.

It’s not stupidity — it’s structural. A market full of “lemons” makes it almost impossible for outsiders to spot the “peaches.”

Moral hazard — When the seller has nothing to lose

Here is the part many investors underestimate: The salesperson faces zero downside.

They get their commission immediately. You bear the risk entirely.

If the market tanks, the developer collapses, or the property becomes impossible to sell, the loss is yours alone.

This creates moral hazard: the salesperson becomes more reckless because they don’t suffer the consequences of misleading you.

This is why they get defensive when questioned. They need your belief — not your due diligence.

Confirmation bias — The story you want to believe

Investors are vulnerable not because they are naïve, but because they want the story to be true.

• “This emerging market will boom.”
• “Tourism will explode.”
• “Foreign investors always win.”
• “This special economic zone is the next Shenzhen.”

Scammers tailor their pitch exactly to your aspirations. They sell you your own hopes reflected back at you — but amplified beyond reality.

The liquidity illusion — The exit that doesn’t exist

The harshest awakening comes years later, when an investor tries to sell.

Locals cannot afford it. Foreign buyers have moved on. The promised “expat demand” never materialised. Rental returns collapse. Banks refuse financing.

You’re left with an asset that looks good on paper but has no real market.

An investment you cannot exit is not an investment — it’s a trap.

Also Read: Indonesia’s AI momentum: Big investments, bigger questions

So, how do you protect yourself?

There are no shortcuts, but there are clear safeguards:

• Verify demand using local income levels, not sales brochures.
• Check real transaction volumes, not projected yields.
• Speak to local agents who have no stake in the sale.
• Examine resale restrictions and actual liquidity.
• Question “guaranteed returns” — they almost always mask risk.
• Validate the developer’s track record with third-party checks.
• Be suspicious of urgency, FOMO, or emotional pressure.

If a deal collapses under scrutiny, it wasn’t a deal — it was bait.

Here are some things to take note of:

Research the market beyond the sales pitch

Before committing capital, go deeper than the marketing brochure. Understand the country’s:

• Economic stability
• Inflation trends
• Political environment
• Foreign ownership restrictions
• Land/title regulations
• Property or business taxation

Use impartial sources: international financial institutions, government trade portals, academic studies, and reputable local advisors.

A solid investment begins with accurate context — not with a promise.

Verify legal ownership and authentic documents

Land and property rights vary dramatically across countries. In some markets, titles are:

• Incomplete
• Contested
• Church- or clan-owned
• Improperly registered
• Legally untransferable to foreigners

Always engage an independent local lawyer— not one recommended by the salesperson — to run title checks, validate deeds, and review compliance.

Verification must be separate from the seller, or it is not verification.

Understand currency, taxation, and capital controls

Your returns may look attractive in a brochure, but foreign exchange realities can erase them overnight.

Be aware of:

• Exchange rate volatility
• Repatriation restrictions
• Double-taxation risks
• Withholding taxes
• Capital gains rules
• Annual property or business taxes

If the country has a history of sudden policy shifts (capital controls, new tax rules, foreign ownership caps), build that into your risk assessment.

Also Read: Malaysia’s digital economy surges with US$6.2B in Q2 investments

Be sceptical of “guaranteed returns” and unrealistic projections

High, stable returns with no volatility do not exist in emerging markets. Scammers use “guaranteed yield,” “exclusive early access,” or “VIP investor rates” to trigger FOMO.

Protect yourself by demanding:

• Audited financials
• Real transaction data
• Rental comparables
• Historical vacancy rates
• Actual sales volumes (not projections)

If the mathematics doesn’t hold up, the narrative definitely won’t.

Work only with licensed, verified intermediaries

In many markets, anyone can call themselves a “consultant,” “broker,” or “advisor.” This is how moral hazard thrives.

Protect yourself by checking:

• Licensing status
• Regulatory registrations
• Litigation history
• Disciplinary records
• Actual experience in that market

Never transfer funds to personal accounts, unregistered entities, or intermediaries who refuse written accountability.

Always plan your exit before you enter

Many investors get trapped not because the asset is bad, but because the market has no liquidity.

Before investing, ask:

• Can I legally sell this asset as a foreigner?
• Who are the realistic buyers?
• Is there demand from locals?
• How long do assets typically sit unsold?
• Are there restrictions on capital repatriation?

If the investment has no clear exit, it is speculation — not strategy.

Stay connected to real information, not marketing narratives

Join communities of expatriates, investors, and industry specialists. They will tell you the truth long before glossy presentations do.

Follow:

• Local business news
• Government bulletins
• Central bank updates
• Property/industry forums
• On-ground analysts

Staying informed helps you anticipate shifts before they affect your capital.

When trust is a system, not a feeling

The real danger in overseas investments is not the asset — it’s the information gap.

Scammers profit from what you can’t see. Protecting yourself means turning trust into something verifiable, measurable, and supported by local intelligence.

In cross-border investing, the real risk is rarely the market itself, but the distance between what you are shown and what you can verify. Closing that gap requires discipline, local intelligence, and a refusal to outsource trust to narratives.

When trust is built on evidence rather than optimism, overseas opportunities stop being traps and start becoming strategies.

—

The post Buyer beware: How to protect yourself in overseas investments appeared first on e27.

It is 10 in the morning when Lam decides to show up at work. The working hours were supposed to start at 7.30 am, but Lam did not feel the need to be on time.

When he finally showed up at work, Lam spent most of his time surfing the Internet, watching movies or chatting with his friends. For any task that he was assigned, he deliberately slowed his performance, taking more time to complete than he really needed.

As a public servant working for the city government, Lam has held his job for nearly five years, making roughly US$300 per month, about the average national GDP per capita income.

His manager was frustrated and tried to manage his performance first by intimidating him, and then by incentivising him to work harder. None of the methods really worked. Coming from a wealthy family which owns a retail store, a family-run hotel, an accounting firm, and several properties for rent, money is not really a big deal for Lam – he already had all that one might need.

Despite an excellent educational background, graduating from one of the top universities in Japan with a bachelor’s degree in marketing, Lam has no desire to outperform his co-workers, who are many years his senior and have held the job for much longer than he has, at least for the time being.

“I have been doing this simple and mindless job for so long that I have become really good at it. For example, it used to take me several days to design my agency’s newsletters; now, it only takes several hours. Yet, I also do not want to turn in my work earlier. I use that free remaining time to pursue my own leisure,” said Lam.

Successors of economic boom

Lam was born in 1988, so he is part of Vietnam’s millennial generation, which is estimated to account for almost one-fourth of Vietnam’s 95-million population.

In 1986, Vietnamese government launched a reform package called Doi moi which completely abandoned the central planning economy, paving the way for the country to transition to a market-oriented economy. From 1986 onwards, Vietnam experienced a sustained period of high economic growth, lifting millions of people out of poverty, completely transforming the country’s landscape, and becoming a lower middle-income country.

In 2005, it officially became a member of the World Trade Organisation, and since then, it has entered into various free trade agreements with many countries, even with the former archenemies like China or the United States.

Also Read: Then vs now: A look back at Vietnam’s changing e-commerce battleground

As Vietnam’s economy prospers and opportunities to make money are omnipresent, a sense of political and economic security is well established. Many millennials are born in the good economic times, witnessing their parents to acquire wealth and modern amenities, and are largely unaware of their difficult childhood or their parents’ struggling past.

“My grandparents often talked about how hungry they were decades ago, and how people died of starvation. Now I have to go on various diets and do exercises to lose weight,” said Hung, a PhD candidate at a university in Singapore, who is also a public servant. For younger members of the millennial generation, the time of hardship was even more distant and unthinkable.

A generation of identity crisis

Dao is a lecturer at a university, specialising in economics and commerce. She graduated from a high-ranking university in Ho Chi Minh City, Vietnam, and went on to earn a Masters’ degree in Europe. She was very popular among her students; however, she always sensed something was missing in her life.

“I am a university lecturer, so I am supposed to know everything and be a role model for my students. Nonetheless, I think that I have imposter syndrome, that I do not have the right credentials or experience for my job. I get everything so easily that I wonder if I really deserve my students’ respect,” Dao said. Many millennials have a lingering feeling of insecurity and understatement.

Similarly, May also had the same problem trying to find her place in Vietnam’s fast-changing, but still in essence a Confucian society. Confucianism, which originated from China – Vietnam’s neighbor and long-term rival, – is a set of social and ethical beliefs that emphasise filial piety, hierarchy, conformity, and male-dominance. Growing up in a strictly traditional Vietnamese family, May noticed the role-sharing system which made all the burden of housework fall on her mother, and the favor and perceived superiority of her brother over her.

“After studying 4 years in Australia and seeing how equal males and females are in Australia, I cannot bear the Vietnamese culture anymore. I tried to date Vietnamese guys but even though they were around my age and received Western education, they still have deep-seated patriarchal attitude and try to make me feel inferior”.

However, May’s decision to date foreigners was met with resentment and opposition from her family. For some time, she suffered from severe depression, and her relationship with her family was greatly strained. After working in Vietnam for 3 years upon graduation, May decided to go to Europe for a Masters’ degree.

“I felt more like myself living abroad. However, my major is economic development. Since Europe is a very developed place, there is not a lot for me to do. I am considering finding jobs in an ASEAN country such as Cambodia or Laos, so I can be closer to home but still have the necessary freedom to be who I truly am,” said May.

Parental pressure

Sharing May’s sentiments of parents’ intrusion and control over their personal life, Hung said that he had to break up with his previous girlfriend because his parents disapproved of her. In addition, to comply with his father’s wish, he had to stick to his current job despite how much he hated it.

“My father has been a loyal public servant for all his life, so he wants me to continue his legacy. Also, my family has enough wealth to support me for the rest of my life, so my parents only need me to have a stable job to keep me out of trouble,” said Hung. He fought with his parents many times over the issues but always succumbed to their demand.

“They sacrificed a lot to give me a better life, so I do not want to disappoint or infuriate them. Besides, my life is quite comfortable; the roads are all smooth and secure. Nevertheless, I feel saddened whenever I think of my passions, wasted skills, and opportunity costs. I feel like I am living someone else’s life,” said Hung.

After 1975, Vietnam initiated the family planning program which allowed each couple to have a maximum of two children. Therefore, naturally, most millennials are the only child or have at most 1 sibling.

As GDP per capita grew from less than US$250 per year in 1986 to more than US$4,900 in 2024, and the birth rate fell from 4.43 per cent per year to 1.96 per cent per year over the same period, millennials enjoy the fruits of their parents’ hard labor, but also endure their overprotection, and their high expectations.

Also Read: Rising trend in Vietnam: Young professionals embracing social media content creation

According to research by Herdindha and Riyanto (2012), parental pressure can cause children to fear the reality and the future, and become constantly anxious. Even when they are successful, they feel dissatisfied and restless. “My parents even dictated what they wanted me to study or who I should date. Regardless of my feelings towards their domination, I achieve all their goals, but I always feel they want even more from me,” said Hung.

Regarding Lam, he fought off his parental pressure by retreating to his own world and became disinterested in everything. He even rebelled by refusing to meet with any of his parents’ dating prospects.

“After years of misery, I now turn a deaf ear to my mother’s complaints and criticisms. Maybe one day, I will change my mind, leave this job and take over my parents’ business as they wish. However, for now, I do as I am pleased, trying to live one day at a time,” said Lam.

Nonetheless, Lam and Hung faced the paradox of choosing between following the easy path their parents lay out for them or revolting to pursue their dreams. Their parents’ success was so enormous that they are probably never able to escape their shadow. Indeed, there is a joke among Vietnamese that it is easier for poor people to break out of poverty than for well-to-do people to break out of complacency and comfort.

Plenty of distractions

If Vietnamese millennials ever feel discontented and bitter, thanks to Vietnam’s global integration and economic advance, there are plenty of distractions for them to occupy their time and their mind.

With the abundance of electronic devices, computers, smart phones, tablets and Internet, Vietnamese young people are busy with their online life, playing video games, online shopping, updating their Facebook, Twitter, and Zalo blogs, or talking to their friends via Viber, Zalo, and Messenger.

In fact, Vietnam boasted over 86 million Facebook users and 62 million Twitter users. According to a study by Gracia Monica, there were at least 20 million gamers in Vietnam on the mobile platforms alone. The game market in Vietnam was also the fastest growing market among ASEAN countries.

In addition to the Internet, gathering and drinking alcoholic beverages after work or even over lunch is also very common among Vietnamese. According to a report by Euromonitor, young adults in their 20s or early 30s, or millennials, are driving up sales in the beer industry.

In fact, Vietnam ranked first among ASEAN countries and among the top 10 country in the world in beer consumption. “My friends and I drank almost every day for all the reasons. After a long torturing working day and a heavy dose of alcohol, I just go home and sleep, and the whole cycle repeats the next day,” said Hung.

Also Read: Automation, AI, and agritech power Vietnam’s VC momentum

Travelling is also another obsession among young Vietnamese people in light of a booming tourism industry in Vietnam. Moreover, they become more creative with their travelling arrangements and options, from going on traditional tours to hitch-hiking, backpacking or trekking. In addition to popular tourist spots, Vietnamese youths are eager to explore less-travelled corners and foreign exotic destinations.

During May’s three years working in Vietnam after returning from Australia, she travelled extensively, more than she had ever done in her entire life. In addition to touring many cities in Vietnam, she travelled by herself for two weeks to Cambodia, then with her friend for 2 weeks to Thailand. Sometimes she just hopped on her motorbike and went on a completely spontaneous trip to some nearby resorts, neighbouring provinces or mountainous areas over the weekend.

“Travelling gives me something to look forward to and keeps me busy. I also learn many life lessons and make many meaningful acquaintances along the way. More importantly, it gives me the freedom and adventure that I desperately need considering my suffocating work environment and my parents’ over-protection. It is my way of rebellion and survival,” said May.

Fighting for their own way

Despite facing with unconventional challenges, familial and societal pressure, Vietnamese millennials work hard for their own way of life and exert the values of their generation. After divorcing her husband, an act that outraged her parents and made her vulnerable to workplace and social judgment, Dao decided to move out of her parents’ house to start a new life.

She volunteered to lead the university’s Communist Youth Union to carry out various charitable projects in economically disadvantaged areas and team-building activities. Furthermore, she together with her friends opened a restaurant selling Western food such as pizzas, pasta, etc.

She offered job opportunities for her students to gain knowledge and first-hand experience with business management and customer services. She said,” I want to enrich my life experience; I want to fully live, research, study, and grow. I feel more confident now when teaching the students because I myself experiment the theories in practice and learn through my own trials and errors.”

Fighting against the rigid and obsolete system of work-for-life and tenured positions in Vietnam’s remnant central-planning system, many Vietnamese millennials opt to work as freelancers or start their own businesses. The nascent start-up eco-system has been thriving in Vietnam for the past few years.

According to Dezan Shira & Associates, in 2022, Vietnam had around 3,800 start-ups spreading in all sectors, with many companies receiving millions in funding from venture capitals. The startup deal value in 2023 was US$529 million.

In terms of freelancing, the website freelancerviet.vn has boasted over 300,000 members, and more than 60 per cent of the members were born from 1990 to 1996. Most millennials turn to freelancing for personal freedom, creativity, work-life balance and autonomy, typical characteristics of the generation.

For other Vietnamese millennials, slowly but surely, they find their way to chase their dreams and realise their full potentials. For Hung, besides the tedious government job that he was obliged to keep, he also worked for a construction company on a project-based contract. He believed this job better reflected his ability, gave him more income, and he could make a career out of it once he had the opportunities.

In sum, under the seemingly easy life, Vietnamese millennials face tremendous obstacles in overcoming the shadow of their parents’ generation and instilling their values in the existing system. However, equipped with technology, education, and financial security, the generation has the capacity to lift Vietnamese economy forwards in the near future.

—

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.

We’re building the most useful WA community for founders and enablers. Join here and be part of it.

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If you dropped into the Bay Area during the mobile boom of the late 2000s, chances are you brushed against products touched by SC Moatti. Her apps picked up Emmy nods and Wall Street Journal Innovation Awards, and today billions of fingertips swipe across interfaces she once shepherded.

Yet Moatti’s résumé is anything but a straight‑line sprint through product management. The Paris‑born engineer has toggled between founder, Big Tech PM, community builder, Stanford lecturer, and, for the last six years, managing partner at Mighty Capital — a “product‑first” venture firm beating the power‑law odds with a one‑in‑five hit rate.

Listening to her on the recent appearance on Startup Project felt like a masterclass in three disciplines at once: making great products, spotting winning startups, and governing companies from the boardroom.

Below are the takeaways that stood out, stitched into a single narrative for founders, product managers, and aspiring investors alike.

A product lens can redraw the VC playbook

Traditional venture portfolios assume failure is the default and build 30‑plus bets per fund to snag a lone outlier. Mighty Capital flips that ratio. By investing in only 15–17 Series A‑stage B2B tech companies per fund—and choosing deals where 500,000 product managers in Moatti’s Products That Count community can accelerate distribution—the firm has turned one-in-twenty success into one‑in‑five.

The key: start due‑diligence where most funds finish. Instead of chasing the hottest category, Mighty Capital first validates team quality, customer traction, governance health, and a fair term sheet. Only then does it ask, Does our product community give this startup an unfair edge? When the answer is yes, the firm wins 80 per cent of competitive deals, even against brand‑name giants.

Also Read: How Category Design drives productivity and efficiency

What makes a great product? Mind, body, and spirit

Moatti’s philosophy springs from her book Mobilised: technology is an extension of ourselves, so great products mirror what makes great people.

• Mind: We crave cognitive stretch, so our tools must learn and solve hard problems. IBM’s Watson did this in 2011; today, foundation‑model LLMs pick up the baton.
• Body: We appreciate beauty and efficiency. ChatGPT’s conversational sheen shows how delight can convert a raw capability into daily habit.
• Spirit: We long for meaning and trustworthy intimacy. The next great frontier, Moatti argues, is “deep personalisation that still safeguards privacy”—AI that sounds human and knows you well enough to serve rather than spook.

If your roadmap stops at functional wins, you’re only two‑thirds done. A product that ignores emotional resonance or ethical data stewardship may ship—but it rarely endures.

Big ideas, narrow beachheads

Asked why so many AI startups feel small, Moatti pointed to the cult of speed. Serial founders (and fast‑moving coders) rightly seek quick validation, but they often choose problems that can be solved quickly rather than those worth solving.

Instead of another slide‑deck summariser, she suggests aiming at moonshots that only AI can crack—drug discovery with too many variables for human lab work, self‑driving systems parsing chaotic streets, or “Her‑style” companionship to fight the global loneliness epidemic.

Start with a tractable wedge, yes, but anchor it in an audacious vision investors can underwrite across multiple rounds.

Also Read: The product management strategy behind building AI agent platform

The art‑and‑science of early‑stage investing

Data‑driven public‑market veterans often assume the private world hides richer spreadsheets. Reality: at a US$1 million ARR Series A, numbers illuminate patterns, not predictions. Mighty Capital augments the metrics with founder references, customer interviews, and a sanity check on board dynamics.

Why? Because, as Moatti notes, a board has only two levers—money and people. If you must wield control rights to force change, you’ve already lost. Effective governance means coaching CEOs before crises, not litigating after them. Build influence early through trust, context, and clear alignment—not term‑sheet fine print you hope never to invoke.

Skills for the next‑gen product leader

Every year, the Products That Count advisory board refreshes its list of “core PM superpowers,” and every year the list looks different. A decade ago, effective PMs obsessed over persuading engineers; today, half of product orgs run engineering. Tomorrow’s hot skill might be prompt design, model evaluation, or AI safety. That fluidity is the point: world‑class product managers practice meta‑learning—the ability to absorb new frameworks as fast as the domain shifts.

Moatti’s prescription is simple: embed yourself in vibrant peer communities, consume books like Crossing the Chasm and Prime to Perform, and treat every release, podcast, or AMA as a chance to recalibrate. The only durable edge is the speed at which you update your mental models. Choose roles and networks that keep you on that upgrade treadmill.

Moatti’s story ultimately reminds us that product, capital, and leadership are not separate tracks. They’re mutually reinforcing skills along one continuum: understanding people and delivering value at scale. Whether you’re coding the next breakthrough, pitching a partner meeting, or chairing a board call, the mindset is the same — solve meaningful problems beautifully, and the returns (financial or societal) will follow.

—

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. We’re building the most useful WA community for founders and enablers. Join here and be part of it.

Image courtesy of the author.

The post How being product-first helped Mighty Capital defy the odds of technology investing appeared first on e27.

For most of Silicon Valley’s history, liquidity arrived in one dramatic burst: an IPO that converted paper gains into spendable cash overnight. An uncomfortable truth has crept into the ecosystem—start‑ups now remain private for a decade or more, while employees, founders, and early backers confront real‑world expenses long before Wall Street rings the opening bell.

The quiet revolution solving that mismatch is the rise of structured, late‑stage secondary markets, and few firms illustrate the shift better than EquityZen, whose Co‑Founder and CEO, Atish Davda, recently laid out the industry’s mechanics and future trajectory.

The three eras of private‑equity liquidity

Secondary trading has unfolded in three distinct waves.

Phase 1—the dot‑com era—relied on early IPOs; Amazon, for instance, listed after just four years of founding, handing risk and opportunity to invest to public investors.

Phase 2 emerged in the late 2000s, when privately held giants such as Facebook and LinkedIn changed hands through US$25 million block trades arranged by bulge‑bracket desks. That market served hedge funds and family offices but excluded the rank‑and‑file employee & retail investors.

Phase 3 is today’s technology‑enabled marketplace, where standardised contracts and digital onboarding push minimums as low as US$10000, opening the asset class to accredited but not super‑rich investors.

Why structure beats heroics

Davda argues that two features differentiate modern platforms from ad‑hoc brokering: process standardisation and issuer alignment. EquityZen has amortised a single deal framework across ≈50 000 private placements touching 450–500 companies, collapsing legal costs that previously made sub‑US$1 million transactions uneconomic.

Also Read: Exploring the rise of finance-as-a-service in APAC

Equally important, issuers are invited to approve every transfer. Almost all start‑ups reserve a right‑of‑first‑refusal (ROFR); ignoring it spawns IOU‑style forwards that can evaporate if a seller disappears.

By working through company counsel, EquityZen not only avoids that risk but occasionally receives ROFR assignments when founders want price discovery without weakening an ongoing primary round.

A portfolio‑construction lens

Early‑stage venture is a power‑law game in which one decacorn must pay for many write‑offs. Late‑stage secondaries, by contrast, resemble public growth stocks: investors hope for doubles or triples, not 100 × returns. Portfolio implications follow:

• Sizing matters. Secondaries act as a bridge between liquid equities and classic venture; 5–10 per cent of alternatives is a typical allocation.
• Selection matters. Domain experts—say, security engineers vetting cybersecurity vendors—may favour single names. Generalists may prefer pooled vehicles that approximate thematic ETFs ​.

Inside the marketplace flywheel

Liquidity—not the sheer number of listings—defines marketplace health. EquityZen reports ~700 000 registered accounts alongside ≈2 000 SPVs holding US$1.5–2 billion of active positions​. Every time a late‑stage start‑up prices a new financing, closes an M&A transaction, or files to go public, that “external print” refreshes valuation anchors and pulls fresh supply onto the platform.

Supply itself is expanding. Employees hired during the 2015‑2021 boom are hitting four‑year vesting cliffs; many hold life‑changing equity yet still need down payments, tuition, or childcare funding. On the demand side, family offices, RIAs, and even municipal pension plans are hunting for mid‑risk growth assets that align with long‑dated liabilities.

When those two curves intersect on a compliant venue, friction—not appetite—becomes the bottleneck. Technology‑driven standardisation keeps eroding that friction quarter after quarter.

Also Read: Eco-investing: Driving change through climate technology and strategic finance

Regulatory moat

In a business where information asymmetry is structural, reputation compounds. EquityZen refuses to market individual deals, declines to sell order‑book data, and builds intentional friction—long FAQs, investor accreditation checks—into its funnel.

The result is slow initial conversion but durable trust ​. It is also why several high‑profile issuers now tag the firm as their “preferred partner,” steering employees away from grey‑market brokers that sidestep company approval.

What the next cycle looks like

The IPO window has been mostly shut for three years, yet the pressure is visible: sponsor‑driven M&A is rising, late‑stage rounds are re‑appearing, and macro expectations point to lower rates in 2025.

Any of those events—an acquisition, a pre‑IPO crossover round, a direct listing—generates price discovery that ripples through secondary markets. Davda contends that risk‑adjusted returns today mirror the opportunity set last seen in 2014, right before the unicorn wave crested.

Liquidity is not a post‑script to value creation; it is value creation’s connective tissue. The professionals have navigated secondary markets for decades. Thanks to infrastructure players like EquityZen, the rest of the innovation economy can finally participate on institutional terms—and that participation is set to accelerate in 2025.

Disclaimer: The information provided in this article is for educational and general‑interest purposes only and should not be construed as investment, legal, tax, or financial advice. All opinions expressed are those of the author and do not necessarily reflect the views of any referenced companies. Before making any investment decision, readers should consult a qualified professional and conduct their own due diligence.

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The post How product design is democratising access to growth‑stage equity appeared first on e27.

SLEEK EV, a Singapore-headquartered electric scooter maker operating in Thailand, has announced a US$8.5 million first close of its Series A round, led by KYMCO Capital.

The round also drew participation from “more than twenty supply chain players from Taiwan and Mainland China”, according to the company.

The fresh capital lands as Southeast Asia’s two-wheeler markets — among the largest and most entrenched in the world — begin the difficult transition from internal combustion to electric. In Thailand, where scooters and motorcycles dominate urban commuting and last-mile delivery, SLEEK is betting that the next phase of electrification will be won not just on vehicle hardware, but on infrastructure, software, and distribution.

Also Read: SLEEK EV secures funding from ORZON Ventures to advance affordable electric mobility in SEA

SLEEK said the funding will be used to expand production capacity at a facility along Thailand’s Eastern Economic Corridor (EEC), accelerate R&D for “cutting edge AI-driven software and AI agents”, and increase the number of its EV S-Charge stations by more than seven times.

The company also pointed to existing relationships with partners, including PTT OR, Krungsri Auto, Toyota Tsusho, and Grab. It said it will continue to build strategic channel partnerships with dealers and national regulatory bodies.

Making Thailand a regional electric motorcycle hub

SLEEK — which also counts ORZON, January Capital, and A2D Ventures among its backers — is positioning its Thailand build-out as more than a local expansion. It wants Thailand to become a regional electric motorcycle hub — a credible ambition in a country that already plays a major role in the region’s automotive and parts supply chains.

The playbook implied by SLEEK’s announcement has three clear pillars:

1. Scale manufacturing inside Thailand (EEC expansion): By scaling production capacity domestically, SLEEK aims to shorten lead times, build closer supplier relationships, and create a platform that can support higher volumes as adoption rises. Locating along the EEC also signals an intention to align with Thailand’s industrial development corridor, where logistics and manufacturing ecosystems are already clustered.
2. Build charging and swapping infrastructure, not just sell bikes: Two-wheel EV adoption lives or dies on convenience and uptime, especially for riders who depend on their scooters for income. SLEEK’s plan to expand EV S-Charge stations by more than seven times is a direct attempt to remove the “where do I charge?” friction that slows mass adoption.
3. Push for safety and operational standards: The company said it aims “to set a new standard for regional charging and battery swapping on electric motorcycles to achieve safety, quality, and operational efficiency respectively.” In practical terms, this is a bid to shape norms in a market where inconsistent battery practices, fragmented charging experiences, and operational uncertainty can undermine consumer trust.

In Southeast Asia, becoming a “hub” is rarely about one factory. It is about whether a country becomes the place where supply chains concentrate, distribution networks anchor, and standards get adopted. SLEEK is trying to participate in that full stack.

The “OS” ambition for urban mobility

SLEEK is explicitly framing itself as more than an EV manufacturer. The company’s long-term ambition is to become “APAC’s trusted full stack EV motorcycle Operating System”, where “partners collaborate, data compounds, and actions convert to a new way of urban mobility.”

That positioning matters because electric two-wheelers produce a continuous stream of operational data through connected systems — vehicle health, battery performance, charging behaviour, route patterns, and rider usage. SLEEK describes itself as an IoT-enabled manufacturer, with scooter hardware “equipped with IoT and synced with a mobile application”.

This is where AI software can become a real differentiator in an end-to-end ecosystem:

• Fleet uptime and predictive maintenance: AI models can flag components likely to fail, reducing downtime — critical for delivery riders and fleet operators.
• Battery lifecycle optimisation: Software can manage charging behaviour and swapping cycles to extend battery life and improve safety.
• Demand-aware infrastructure operations: As station networks expand, AI can help allocate batteries, plan station expansion, and reduce congestion at peak times.
• User experience and support automation: The company’s mention of “AI agents” suggests it is building automated assistance and workflows — potentially spanning troubleshooting, onboarding, and service coordination.

Also Read: Electric vehicles at the crossroads: Trust vs innovation

Put simply, the scooter is the device; the software layer is the control plane that can make urban EV operations reliable at scale.

What KYMCO Capital brings: supply chain leverage and distribution acceleration

For SLEEK, the lead investor is not just a cheque; it is a strategic anchor.
KYMCO Capital is invested in by Kwang Yang Motor (KYMCO), described by SLEEK as a “global powersports manufacturer”.

SLEEK said KYMCO Capital will bring “60 years of industry experience in the two-wheelers” and support efforts to optimise supply chains, “synergise the proliferation of battery and charging/swapping technologies”, and “supercharge its distribution across Southeast Asia.”

This partnership can accelerate regional distribution in three concrete ways:

1. Manufacturing know-how and supplier access: Two-wheelers are a scale game. KYMCO-linked networks can help with vendor qualification, cost optimisation, and production ramp discipline — areas where many EV startups stumble when moving beyond pilot volumes.
2. Credibility with channel partners: In Southeast Asia, two-wheel distribution is relationship-heavy: dealers, service centres, financing partners, and fleet buyers all want proof that a brand can support vehicles for years. A strategic investor tied to a long-standing manufacturer can reduce perceived risk.
3. Technology alignment for charging and swapping: Interoperability and safety are major hurdles in battery ecosystems. A partner with deep two-wheeler experience can help ensure that charging/swapping approaches are operationally robust and scalable across markets.

EV two-wheeler fight is getting crowded

The competitive pressure in Southeast Asia’s electric two-wheeler space is intensifying, even as adoption remains uneven.

The region combines:

• deep-rooted incumbent brands with extensive dealer and service networks
• new EV-native startups offering connected vehicles and alternative ownership models,
• and low-cost imports and fast-moving entrants that can compete aggressively on price.

In this environment, winning is not just about launching an electric scooter. It is about building distribution, financing options, service reliability, and charging convenience—and doing so across multiple cities where infrastructure and regulations differ.

SLEEK’s strategy, as described in its announcement, addresses the competitive squeeze by leaning into:

• Channel partnerships (the company namechecked partners spanning energy, automotive services, and platform ecosystems),
• Infrastructure density (S-Charge expansion),
• Software integration (IoT + app + AI-driven layer),
• Manufacturing scale-up (EEC facility expansion).

That combination is also a defensive move: competitors can copy a vehicle design faster than they can replicate a functioning, high-uptime ecosystem.

EV space is maturing, but the transition will be uneven

Southeast Asia’s EV industry is maturing in a recognisable way: moving from early adopters and pilots toward infrastructure-building and operational scale. That maturation is visible in three broad shifts reflected by SLEEK’s announcement:

• From “vehicle-first” to “ecosystem-first”: The market is learning that charging, swapping, servicing, and financing are not optional add-ons.
  From consumer curiosity to fleet economics: Delivery and ride-hailing fleets can be powerful catalysts because total cost of ownership and uptime are measurable.
  From experimentation to policy and standards: As EV penetration rises, regulators and industry players tend to converge on safety expectations for batteries, charging, and operations.

Is the region “ready” to move to EV?

In practice, readiness is city-by-city and use-case-by-use-case. Dense urban areas with high two-wheeler utilisation and predictable routes are often the most viable starting points, especially when paired with charging/swapping networks and strong after-sales support.

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

SLEEK’s bet is that Thailand, with its industrial base and urban demand, can be a cornerstone market for that transition, and that the winners will be the companies building the system, not just the scooter.

With fresh capital, a strategic backer tied to decades of two-wheeler manufacturing, and a plan centred on production scale plus infrastructure and software, SLEEK is now stepping into the hardest phase of any EV story in Southeast Asia: execution at street level.

The post SLEEK’s Series A signals a more mature EV playbook appeared first on e27.