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Ecosystem Roundup: Indonesia blocks Temu | WhiteCoat acquires Good Doctor | ByteDance lays off around 500 staff in Malaysia

Dear reader,

The Indonesian government’s decision to block the Temu app is a bold step in safeguarding the interests of local micro, small, and medium enterprises (MSMEs).

By preventing foreign platforms like Temu, which directly connects overseas manufacturers with Indonesian consumers, the Ministry of Communication and Informatics is addressing the growing concern over unfair competition faced by local businesses.

Minister Budi Arie Setiadi’s move sends a strong message that the government prioritises the sustainability of its domestic economy, particularly the MSMEs that are the backbone of Indonesia’s economic growth.

Temu’s business model, similar to that of Shein, bypasses local businesses and creates an uneven playing field. Offering products from foreign manufacturers at lower prices undercuts local producers and threatens the livelihoods of millions of Indonesian MSMEs, especially in regions known for their craftsmanship like Tasikmalaya and Pekalongan.

This intervention reflects Indonesia’s broader strategy to control the digital marketplace and protect local industries from the encroachment of global e-commerce giants.

As digital markets evolve, this regulatory stance is critical to ensuring that technology does not undermine local economies, while supporting innovation that benefits both consumers and domestic enterprises.

Sainul
Editor.

NEWS & VIEWS

WhiteCoat to strengthen Southeast Asian presence with Good Doctor buyout
The combined entity will work with over 130 insurers and 7,500 corporate partners to serve over 6.8 million insured lives; In addition, WhiteCoat has secured an undisclosed funding round led by Raffles Family Office.

Indonesia bans Chinese e-commerce giant Temu to protect local MSMEs
According to the government, Temu is not eligible to operate in Indonesia as it was not registered as an electronic system provider; The Ministry of Cooperatives and SMEs disclosed that Temu has attempted to register in Indonesia three times.

Bukalapak responds to Temu acquisition report following recent share price increase
In a letter to the Indonesia Stock Exchange, e-commerce firm Bukalapak stated that it was “not aware of any information regarding its acquisition plans by Chinese e-commerce major Temu.

ByteDance’s TikTok cuts hundreds of jobs in shift towards AI content moderation
Its TikTok platform employs a combination of automated systems and human moderators to moderate content on its platform; The technology firm is also planning more retrenchments next month as it looks to consolidate some of its regional operations.

OpenAI announces Singapore expansion amid doubling of ChatGPT users
OpenAI will work closely with Singapore government partners, such as the EDB, to support the country’s local AI ecosystem; OpenAI has also partnered with AI Singapore to make advanced AI more widely accessible across SEA.

watchTowr secures US$19M to combat emerging cyber threats
The investors are Peak XV Partners, Prosus Ventures, and Cercano Management; watchTowr helps organisations understand and identify high-impact weaknesses in their cybersecurity defences.

Vertex Growth invests in Japanese proptech startup estie’s US$20M round
The other backers are Temasek, Globis Capital, and Global Brain; estie, which provides real estate developers and institutional investors with services that facilitate industry transactions, plans to expand into Southeast Asia.

Singapore’s Meridian Innovation secures US$12.5M to scale operations
The investors are Moveon, TCVC, and HKSTP; Meridian Innovation is a thermal imaging sensors developer; The funding will be used to scale operations, accelerate product development and expand its reach into broader consumer and commercial markets.

Singapore’s fintech firm Surfin raises US$12.5M funding
The investor is Insignia Ventures Partners; Using Al and analytics, Surfin strives to provide an ecosystem of transparent and innovative financial services to the growing, underbanked middle class.

FTX’s Ryan Salame posts jokes on LinkedIn as he heads to prison
The former co-CEO of FTX Digital Markets is starting his seven-and-a-half-year fraud sentence today; Many of the company’s executives have been found guilty on various counts of fraud or conspiracy to commit such acts.

TransTrack in talks to buy port and fleet management firm after US$12M round
It is looking for a company that already has the software and features that can complement TransTrack’s solutions in port and marine operations, as well as the expertise in installing advanced equipment on vessels, tug boats, and barges.

SEA startups secure US$202M in September
This marks a 28.66 per cent rise in funding over August 2024 and a 27.86 per cent decline from September 2023; The region witnessed seven seed-stage, six early-stage, and three late-stage funding rounds last month.

Earlybird AI secures Antler-led funding to simplify finance admin for SMEs
The Singaporean fintech startup has developed a mobile app to make business finances and accounting painless and intuitive while giving real-time visibility into the business.

Emma Watson invests in reproductive health firm Hertility
Watson is known for her interest in the environment and supporting women-led initiatives; She is a UN Women Goodwill ambassador and helped launch the HeForShe campaign, which promotes gender equality.

Startupbootcamp launches TradeSpark programme in Singapore
The TradeSpark programme aims to bring together MNCs, local corporations, and startups/scale-ups to collaborate on cutting-edge supply chain solutions.

Google ordered to open up Google Play to rivals
Judge James Donato issued his final ruling in the Epic and Google saga on Monday, detailing how Google has to change how it operates Google Play.

FEATURES & INTERVIEWS

Revolutionising urban commutes: SEA’s prominent electric two-wheeler startups
Electric two-wheelers are seen as efficient, affordable, and flexible solutions for short-distance travel, especially for last-mile connectivity.

FROM THE ARCHIVES

How startups should pivot towards being customer-centric
How ready are businesses to adopt new ways of ensuring they’re fully customer-centric, from awareness to conversion and beyond?

Mind your emotions: why emotional agility is the key to personal growth
By skipping past the difficulties our emotions can bring, we miss important opportunities to grow emotional agility.

5 incentives that can be helpful in attracting awesome employees
When it comes to employees, you can’t expect the best of the best unless you can provide suitable incentives.

Looking beyond the surface of optimising customer experience
As the VP of marketing at PayPal, this is what I can share on how e-commerce startups can optimise their customer experience.

15 strategies for a successful acquisition
I have completed more than 30 corporate acquisitions on both sides of the transaction. Here are the most important, hard-won lessons.

5 essential organisational steps for your startup’s tech infrastructure
Always make sure you review your tech infrastructure from time to time, especially when there is a change to your business.

How to create a great thought leadership article even though you suck at writing
If you are keen on leveraging thought leadership for better brand positioning but are hesitant about your writing skills, this is for you.

5 growth hacking tips you must consider for your business
Growth hacking is the revolutionary element in the world of startups which has changed the fate of many business ventures for good.

For Indonesia’s 2nd generation unicorns, international expansion is the name of the game
When it comes to producing unicorn startups, Indonesia has done a phenomenal job in a relatively short time.

Balancing revenue, impact remains the top challenges faced by social impact startups
For these social impact startups, cross-party collaboration can be a key to tackling these unique challenges.

What you should expect from your startup mentor
Make sure your startup mentor is a pillar of support and not one who constantly disparages and puts you down.

How should non-tech companies approach AI?
Non-tech organisations often have a completely different set of conditions that call for unconventional strategies for AI deployment.

The best New Year resolutions for startup founders: Offering ESOPs that actually work
I want to share key takeaways for founders who are thinking of designing competitive ESOPs in 2022 in order to attract and retain talent.

THOUGHT LEADERSHIP

Why Vietnam is the next big thing for startups and corporate partnerships
With its fast-growing economy, youthful population, and rapid digital adoption, Vietnam offers fertile ground for innovation.

Why Southeast Asian startups must prioritise profitability over rapid scaling
Investors are watching closely, and the startups that thrive in these markets will be the ones that can balance innovation with sound financial strategies.

CSR as a core strategy: How Asia’s tech companies are leading the way
By implementing strong CSR strategies, Asian tech firms boost their reputations while advancing sustainable development goals.

Understanding cybersecurity threats: What you need to know to stay safe
Knowing key cybersecurity threats like phishing, ransomware, insider threats, and APTs helps improve your defences.

Why traditional marketers must embrace digital marketing: Top 3 skills to learn
To stay relevant, it’s crucial that traditional marketers continually learn and adapt to the digital marketing ecosystem.

The power of replication: Fintech success stories in Singapore and Indonesia
Case studies of Xfers, KoinWorks, Tokocrypto, Validus Capital, Nium, and StashAway show how fintech and DeFi firms can use competitor content strategies for success.

The post Ecosystem Roundup: Indonesia blocks Temu | WhiteCoat acquires Good Doctor | ByteDance lays off around 500 staff in Malaysia appeared first on e27.

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