Dear reader,
The special climate tech edition of The Global Startup Ecosystem Report unveiled during COP28 sheds light on the evolving landscape of Cleantech and the Blue Economy. This comprehensive examination delves into the interconnected yet distinct realms of sustainable solutions and ocean resource utilization.
Singapore’s remarkable leap from 26th to 8th place in cleantech ecosystem categories underscores its burgeoning role in driving innovation, making it the sole Asian representative in the top 10.
Meanwhile, Silicon Valley and London retain their global dominance in cleantech, holding the first and second positions, respectively.
The report highlights Singapore as the unparalleled leader in the Blue Economy startup ecosystem, attributing its success to a high number of relevant startups and robust university support for innovation.
This illuminating report reflects the dynamic shifts in global startup ecosystems and underscores diverse regions’ pivotal role in advancing climate-conscious entrepreneurship.
Sainul,
Editor.
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Singapore remains top startup ecosystem for clean tech, blue economy
In the Cleantech ecosystem categories, Singapore moved up an impressive 18 places, from number 26 to eight, says a report by Startup Genome and the Global Entrepreneurship Network; Silicon Valley and London remained the world’s leading cleantech ecosystems.
Blibli’s gross profit climbs 59% in Q3, EBITDA loss narrows 28%
The Indonesian e-commerce major posted US$237.4M for Q3 2023, which marked a 3% decline y-o-y; However, its quarterly gross profit for the same time frame climbed 59% to US$34.9M.
Singapore’s early-stage VC firm FEBE Ventures unveils US$75M Fund II
FEBE Ventures also partnered with Tekton Ventures to support globally-minded entrepreneurs leveraging tech for global progress, particularly in emerging economies; Otium Capital, an international family office, is the anchor investor.
India and SEA’s climate tech sector set to reach US$350B by 2030
In 2022, global climate tech investments exceeded US$70B, nearly doubling the previous year’s record, with SEA and India contributing a 7% share; The study titled The Essence of Climate Tech for India and Southeast Asia was conducted by Golden Gate Ventures and Venture East.
Vietnamese fashion supply chain platform Inflow lands US$2M investment
The investors are AppWorks, 500 Global, January Capital, Spiral Ventures, and Saison Capital; Inflow provides fashion brands with tools and technologies to simplify the sourcing and manufacturing process and speed up time to market.
AI-enabled freight logistics startup Fr8Labs raises US$1.5M
East Ventures, FEBE Ventures, Kaya Founders, Mulia Sky Capital, Seedstars International Ventures, and Venturra; Fr8Labs’s solutions include a cloud OS and a Generative AI assistant aiming to serve as an AI co-pilot for freight forwarders.
Grab-led GXBank launches as Malaysia’s first digibank
GXBank offers a daily interest rate of 3% per annum for users who save in their main account or Pockets; Customers can use Pockets to monitor progress and receive money-saving tips.
Indonesian trade minister denies that TikTok filed for e-commerce permit
After TikTok Shop was shut down in October, the social media firm’s e-commerce future in Indonesia remains in limbo; To overcome regulatory hurdles, one path TikTok is exploring is to partner with local e-commerce players.
After Musk tirade, X faces prospect of more advertisers fleeing
Walt Disney and Warner Bros. Discovery suspended advertising on X earlier this month following Musk’s endorsement of an antisemitic post that falsely claimed members of the Jewish community were stoking hatred against white people.
X CEO Linda Yaccarino publicly backs Musk after he says ‘f*ck yourself’ to advertisers
Elon Musk, who in recent days has endorsed antisemitic content on the platform alongside other conspiracy theories, has threatened lawsuits against Media Matters, the Center for Countering Digital Hate and the Anti-Defamation League, claiming their reports are scaring advertisers off the platform.
ChatGPT mobile apps have topped 110M installs, ~US$30M in revenue
The mobile apps make money by selling the ChatGPT Plus subscription via in-app purchases; The US$19.99 per month service offers a variety of extra perks, including general access during peak times, faster response times and early access to new features and improvements.
Ma urges Alibaba to change and reform as PDD catches up in market value
Jack Ma congratulated eight-year-old PDD for its decision-making, execution, and efforts over the past few years while calling on Alibaba employees to return to the company’s mission and vision to reform to secure tomorrow’s and the day after’s glory.
US compels Saudi fund to exit Altman-backed AI chip startup
Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using AI algorithms, raised US$25M in 2022; Aramco’s Prosperity7, a lead investor in the round, sold its shares in the startup.
EcoSfera helps turn your household waste into energy in the comfort of your home
EcoSfera can be installed on the customers’ premises, process 5-50 tonnes of waste per day, and create up to 150kWh of power per container.
Turn Capital: Navigating turnarounds and sustainable growth
Turn Capital provides insights into its Opportunity Fund’s preferred sectors, ongoing discussions for potential acquisitions, and the integration process post-acquisition.
That time Sam Altman went to take a smoke break around the office building
Sam Altman’s reputation as a charismatic leader seemed to play a great role in how the situation progressed at Open AI last week.
Innovation in HR: Hacking Talents’s journey in personalised professional development
Hacking Talents stands out by focusing on individualised professional development and data-driven HR strategy.
US Navy Chief Digital Transformation Officer reveals why most transformations fail
When it comes to digital transformation, Dr Patrick O’Connel highlights the importance of having a steady, strong budget.
How VFlowTech plans to power Pulau Ubin towards a sustainable future
VFlowTech aims to encourage regions and communities to consider sustainable energy storage solutions and reduce reliance on diesel generators.
Carb0n.fi seeks to revolutionise climate action with blockchain
Carb0n.fi offers a decentralised platform for carbon offset NFTs, aiming to empower global users in combating climate change.
Traction metrics that investors look for in early-stage startups
Different investors might consider different traction metrics, depending on the verticals that the startup is working on.
Back to the future: Why VR is the future face of education
This infographic reveals what Southeast Asia can learn from the US on the implementation of VR in e-learning.
Spotlighting Georg Chmiel: Championing inclusive work ecosystems in Southeast Asia
With 30 years of experience in fast-growing online businesses, Chmiel led 35+ acquisitions and seven takeovers.
Innovation meets endurance: The crucial balance for modern businesses
Resilience and innovation go hand in hand. Discover how corporations like Salesforce and Canva have adapted to the digital landscape to succeed.
Cracking the code: Decoding 4 myths in Indonesia’s startup realm
This article highlights four common misconceptions that founders might have that can either make or break a startup.
Beyond desk spaces: A fresh approach to revolutionising Malaysia’s coworking landscape
Coworking spaces globally gain popularity, transforming work dynamics with flexible alternatives to traditional offices.
How fintechs and neo-brokers are empowering retail investors
Fintechs and neo-brokers have made stock trading more accessible & affordable for retail investors, empowering them to take control of their financial futures
How technology can bridge language barriers to build an inclusive society
The key to a digitally inclusive world is the real-time translation of a message across multiple languages and amplifying user outreach.
Exploring blockchain’s potential impact on the education sector
By the year 2024, the application of blockchain technology is anticipated to have a substantial influence on the education sector.
Money talks: How tech can boost Filipinos’ financial literacy
With parents and schools silenced by cultural taboos, money management apps are filling the gaps in Filipino youths’ financial knowledge.
Revolutionising warehousing: An in-depth conversation with XSQUARE
In the thriving global Warehouse Automation market, XSQUARE Technologies is reshaping intelligent warehousing in Singapore and Asia Pacific.
10 reasons not to pay the ransom in a ransomware attack
We’ll explore ten crucial reasons why refraining from ransom payments is vital in the ongoing global fight against cybercrime.
From authentic leadership to talent investment: 5 proven tips to win the startup game
The path to success in the startup landscape is a gradual process of self-mastery, personal growth, resilience, and continuous learning.
The next communications frontier: Uniting 5G and VoIP in Southeast Asia
The fusion of 5G and VoIP in Southeast Asia is more than just an upgrade in telephony; it’s a leap into the future of communications.
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