Cyber threats on the rise? Check. Economic toll due to escalating cybercrimes? Check. The need for airtight cybersecurity has never been more critical. With every breach, the stakes get higher, pushing governments to the forefront in the battle for data protection. They know that strong cybersecurity is not just about safety—it’s the backbone of national security and economic stability.

Landscape of cybersecurity in Malaysia

Malaysia is navigating a cybersecurity minefield, with threats lurking at every turn. According to CyberSecurity Malaysia, the country battles an average of 31 cyber incidents daily—ranging from fraud to data breaches, and hacking. In 2021 alone, the nation was afflicted by over 20,000 cybercrime cases. This caused significant financial fallout, underscoring the urgent need for robust cybersecurity measures.

These aren’t just abstract figures. Cybercrime impacts industries across the board, affecting everyone from corporate boardrooms to average consumers. Ransomware, phishing, and DDoS attacks are the usual suspects, wreaking havoc on businesses and their bottom lines. Take, for instance, the data breach at a major telecom company in early 2023, which left 1.5 million customers exposed. This breach wasn’t just a blip on the radar. In fact, It was a stark reminder that even the largest corporations are vulnerable.

The education sector wasn’t spared either, with a significant breach at a leading university compromising sensitive student and faculty information. This incident sent shockwaves through the academic community, highlighting the risks associated with storing vast amounts of personal data. Even the government sector felt the sting, with 22 per cent of reported breaches targeting government agencies, raising concerns about national security.

According to Malaysia Computer Emergency Response Team’s (MyCERT) Cyber Incident Quarterly Summary Report (Q2 2024), cybersecurity threats remain a persistent concern for businesses and individuals alike. Fraud was the most reported incident in the second quarter of 2024, accounting for 63.94 per cent of all reported incidents. Malicious codes followed, which made up 11.01 per cent, and data breaches, representing 7.90 per cent of reported incidents. 

Also Read: Malaysia Digital status companies pioneer growth in the competitive semiconductor industry

Critical shortage of cybersecurity professionals

The trends cited above highlight the growing sophistication and frequency of cyberattacks in Malaysia. This further underscores the importance of the nation’s cybersecurity initiatives. Malaysia Digital Economy Corporation’s (MDEC) cybersecurity efforts align with the Malaysia Cybersecurity Act 2024. 

The Act provides a comprehensive legal framework for data privacy and the enforcement of cybersecurity measures. It lays the groundwork for collaboration between private companies and government agencies, ensuring a more secure digital economy. Through these efforts, MDEC continues to catalyse innovation in cybersecurity. It is thus helping to safeguard Malaysia’s citizens and businesses while fostering the growth of a globally competitive digital economy.

But the real kicker? A critical shortage of cybersecurity professionals. Malaysia needs 12,000 more experts by 2025 to effectively fend off rising cyber threats. This talent gap isn’t just a statistic; it’s a ticking time bomb that could leave businesses and infrastructure vulnerable. Without enough skilled professionals, the nation’s cybersecurity defenses may falter, creating opportunities for cybercriminals to exploit weaknesses.

Also read: Malaysia’s Tech and Industrial IoT Takes Off with a Technology Showcase at SEMICON 2024

Local companies at the forefront: Securematic and AKATI Sekurity

Yet, all is not doom and gloom. Malaysia’s cybersecurity landscape is lit with Malaysia Digital (MD) status companies who are local champions leading the charge, each bringing their own unique strengths to the fight against cybercrime.

First, Securemetric is at the cutting edge, specialising in securing mobile, digital identification and online transactions. They provide solutions in mobile security, digital identity, and online transactions. Edward Law, CEO of Securemetric, is a pioneer in the field of Digital ID. When he founded Securemetric in 2007, he saw the need for Digital ID. Fast-forward 17 years later, Law says they have successfully implemented national-scale Public Key Infrastructure (PKI) projects in 7 out of 10 Southeast Asian countries, along with numerous enterprise-level security solutions. This recognition drives Securemetric to push further and explore ways to enable ASEAN cross-border digital identities in the future.

Second, AKATI Sekurity is another titan in the field, leading in cyber defense operations. CEO, Krishna Rajagopal, shares, “We serve over 500 clients, providing round-the-clock security monitoring and a suite of services that address the full spectrum of cybersecurity needs.” Rajagopal continues that their approach is unique as they offer both defensive and offensive security services. They utilise real-world adversarial attack simulations to identify vulnerabilities and bolster their clients’ cyber defences.

This is what sets it apart in the crowded cybersecurity market. This year, it was  ranked #9 in the prestigious MSP501 by Channel Futures and Informa Tech. This accolade places it among the top 501 Managed Service Providers (MSPs) globally.

Local companies at the forefront: FIRMUS, Nexagate, and beyond

FIRMUS has evolved from a humble cybersecurity assessment provider to a comprehensive solutions powerhouse. Accordingly, they offer everything from expert consulting to incident response. Among the awards they have received are the Best Employer Award by the Human Resource Development Corporation (HRD Corp) and Malaysian Institute Of Human Resource Management (MIHRM), and the prestigious Cybersecurity Award from Asian-Oceanian Computing Industry Organization (ASOCIO).

“Beyond these, we also achieved a significant milestone with our vendors by becoming Malaysia’s first CrowdStrike Elite Partner and securing the best Privileged Access Management (PAM) win with CyberArk,” shares CEO of FIRMUS, Datuk Alan See. Recently, FIRMUS’s leadership in the field of cybersecurity was recognized when they were acquired by TechMatrix Corporation. TechMatrix, listed on the Tokyo Stock Exchange, is a well-known system integrator in Japan.

Nexagate, since 2010, has been on a mission to protect organisations with its Managed Security Services and risk management solutions. Their proprietary platform, Nexa Security Intel (NSI), is the jewel in their crown. It is used by over 40 key organizations across Southeast Asia. Khairil Effendy, founder of Nexagate, shares, “We are proud to have expanded our client presence in Indonesia, Singapore, Brunei, and Laos, which aligns with our mission to be the cybersecurity leader in Asia.”

Effendy continues that their recently opened an office in Jakarta, Indonesia, further solidifies their commitment to the region. Evidently, Nexagate’s approach is holistic, focusing not just on preventing attacks but also on building resilient security postures. These postures can adapt to the evolving threat landscape underscores their commitment to scale solutions effectively.

Other cybersecurity companies to watch out for are Delta Spike Asia and VulsanX. Notably, they use AI and analytics in their solutions and offerings to do advanced threat prediction & detection.

Cybersecurity and the Cyber100 Programme

The digital economy is projected to account for 25.5 per cent of GDP by the end of 2025. Thus, it’s no wonder that cybersecurity has become a key focus for Malaysia’s Minister of Digital, Gobind Singh Deo. “As our economy continues to transition to new digital paradigms, the government’s commitment to securing our digital landscape is further heightened. In this context, cybersecurity has evolved from a specialized concern to what we term as a fundamental necessity,” says Deo at the launch of StarSentry, a plug and play cybersecurity box developed by LGMS.

The stakes in cybersecurity have never been higher. MDEC is working together with MD status companies to address these threats via several key initiatives. Most notable among its efforts is its Cyber100 programme. Launched in collaboration with the National Cyber Security Agency (NACSA), Cyber100 is Malaysia’s first Cybersecurity Innovation Challenge Programme. It seeks to address critical national cybersecurity challenges by encouraging the development of local solutions tailored to the specific needs of various industries. The initiative empowers local cybersecurity service providers by offering a platform for innovation, skills development, and access to vital resources, helping companies pilot their cybersecurity solutions in real-world scenarios.

Also read: Digital health: Malaysia leads in powering ASEAN’s transformation

Malaysia at the forefront of cybersecurity

Under the Cyber100 programme, Malaysian Digital (MD) status companies are tasked with addressing issues ranging from threat detection to identity management and endpoint protection. Through partnerships with local cybersecurity service providers, MDEC ensures that Malaysia’s digital ecosystem remains secure, while also encouraging the growth of a robust cybersecurity industry that can scale globally. 

MDEC’s efforts are further supported by Malaysia’s achievement of Tier 1 status in the ITU Global Cybersecurity Index 2024, solidifying its position as one of the leading nations in cybersecurity readiness and resilience. This top ranking reflects Malaysia’s strong governance frameworks, public-private partnerships, and consistent efforts to build world-class cybersecurity capabilities.

With threats evolving daily, the fight to protect Malaysia’s digital landscape is relentless. It’s a collaborative effort—uniting government initiatives, private sector innovation, and continuous education. By staying vigilant, investing in cutting-edge solutions, and fostering a unified front, Malaysia can secure its digital future and maintain the trust of its citizens and global partners.

MDEC offers various programmes for Malaysia Digital status companies. Apply for Malaysia Digital status here.

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Sentiance, a Belgium-based mobile-first motion insights company looking to reduce road accidents, has acquired Bangkok-headquartered fleet intelligence platform DRVR in an undisclosed deal.

With over a million lives lost on roads each year, both companies seek to make a lasting impact, starting with strengthened efforts across Asia and continuing to drive innovation in road safety worldwide.

The European company has integrated DRVR’s team, leadership, and clients.

“Sentiance’s standout on-device processing technology enables data to be processed directly on smartphones, enhancing privacy and reducing costs,” said David Henderson. “In addition, Sentiance’s evidence-based motorcycle safety solution is tailored specifically for the on-demand economy, pushing boundaries in safety technology and setting new standards for the industry.”

“With David and his exceptional team now onboard, we are poised to elevate our support for clients across ASEAN and beyond. Together, we are committed to advancing safety-first, privacy-driven solutions to address road safety challenges worldwide.”

Also Read: DRVR secures funding to grow its fleet analytics platform

Sentiance is a road safety technology company. With its AI on-device technology, companies use insights from the Sentiance Edge Platform to produce scalable, cost-efficient, and privacy-centric solutions for their customers.

Founded by a team of seasoned telematics experts, DRVR focuses on enhancing driving behaviour. Its app-based solutions utilise smartphone sensors, AI, machine learning, and gamification techniques to deliver powerful insights and business risk management solutions.

The company has partnered with industry leaders like PT Nagase in Indonesia and HERE Technologies.

In 2020, DRVR raised an undisclosed amount of funding from Smart Axiata’s Digital Innovation Fund to expand its services into Cambodia. Previously, it secured US$450,000 from an undisclosed group of investors and had earlier secured a small round of funding from an angel investor group in Hong Kong.

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SGX-listed 17LIVE Group, the leading live-streaming platform in Asia, has acquired 100 per cent of the outstanding shares of Japan-based N Craft Co.

N Craft is a production company that develops and manages virtual talents and creates engaging content that connects with fans through live performances and interactive experiences.

The transaction details of the deal remain undisclosed.

Also Read: Former top Vertex exec Jiang Honghui joins 17LIVE Group as CEO

The strategic acquisition will bolster 17LIVE’s V-Liver business segment by adding production and talent development capabilities within the group.

With the integration of N Craft’s expertise and team, 17LIVE will manage the existing V-Liver business and facilitate the transfer of approximately 140 V-Livers into the group. N Craft’s V-iii brand, which focuses on nurturing new V-Liver talent, will complement the existing roster of V-Livers on the 17LIVE platform and those associated with NexuStella, another production company under the group.

Both entities will collaborate to enhance the IP talent business, implement innovative initiatives, and jointly develop a new V-Liver production brand.

17LIVE is a pure-play live-streaming platform in Japan and Taiwan. Its business lines include Liver live-streaming, V-liver live-streaming and other businesses such as in-app games and live commerce. Its key markets are Japan and Taiwan, and it has a presence in Hong Kong, Singapore, the United States, the Philippines, India, and Malaysia.

The global anime market, valued at approximately US$31.23 billion in 2023, is projected to grow at a CAGR of 9.8 per cent, with Japan accounting for over 40 per cent of global revenue. Within this landscape, the V-Tuber market—a vital component of the V-Liver segment—currently stands at around US$500 million and is experiencing rapid growth.

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In today’s digital world, online gaming has become more than just a pastime—it’s a global community where players can access unique items, level up their skills, and enhance their gaming experiences. However, gamers face significant risks when trading or purchasing accounts and items online. In addition to challenges of time, expense, and fragmented access to reliable information, there are other issues. This includes scams, hidden fees, unreliable transactions, and isolated communities have made it difficult for players to find a trustworthy, efficient, and informative platform. 

Challenges in the online gaming marketplace: Protecting players from fraud, high costs, and fragmented communities

The current landscape for gamers who want to buy or sell accounts, in-game items, or professional services can be challenging. Many rely on forums or social media groups where transactions lack verification. This leaves both buyers and sellers at risk of fraud. Beyond security, players face additional frustrations. This includes inflated fees, time-consuming searches for legitimate offers, and limited access to insights or helpful information on how to improve gameplay or identify valuable items.

For example, buying rare in-game items or high-level accounts can be risky. There is often no way to verify that what’s advertised matches what’s delivered. Plus, inflated fees and unregulated marketplaces mean players often spend more than necessary. Moreover, without a central community to engage with, gamers miss out on valuable industry news, gameplay tips, and the chance to connect with others who share their interests.

PlaySwap was founded to solve these issues by creating a reliable, cost-effective, and user-friendly marketplace where gamers can save time and money while accessing the latest online gaming news, how-to tips, and a thriving, supportive community. With PlaySwap’s commitment to transparency, robust safety measures, and community engagement, gamers now have a one-stop platform for all their needs.

Also read: From niche hobby to billion-dollar industry: The meteoric rise of esports

PlaySwap: Bringing accountability, efficiency, and community to online gaming transactions

The platform was founded by CEO Hoang Minh Tong, who recognized the need for a safer, more transparent, and efficient marketplace in the online gaming industry. His vision for PlaySwap was born out of a desire to eliminate the risks and expenses associated with online gaming transactions. Furthermore, he wanted to create a comprehensive platform where buyers and sellers could interact without fear of scams, excessive fees, or wasted time.

“As a lifelong gamer and former game programmer, I’ve always been passionate about the gaming world,” says Mr. Tong. “I saw firsthand the challenges gamers faced, not only with scams but with the time and money wasted trying to find reliable services and information. I wanted to create a platform that solved these issues—offering security, savings, and a real community. That’s why I created PlaySwap.”

Collaborating with industry experts who shared his vision, Mr. Tong set out to build a platform that would revolutionize the online gaming e-commerce space, giving gamers a reliable, cost-effective environment to buy, sell, and trade with confidence and access the latest in gaming knowledge.

Saving gamers time and money, building a global community

PlaySwap’s platform is designed to save users time and money. By offering transparent pricing, reasonable commission fees, and fast payouts, sellers maximize their profits, while buyers avoid hidden fees. Additionally, PlaySwap’s search and recommendation features simplify the process of finding accounts and items. In effect, this reduces the time gamers need to spend on transactions. Meanwhile, secure payment options, 24/7 support, and a 10-day money-back guarantee empower players to trade confidently, knowing that PlaySwap stands behind every transaction.

PlaySwap goes beyond being a marketplace—it’s a global community where gamers can connect, learn, and thrive. With a focus on user-driven content, members access a wide array of online gaming resources, including news, expert guides, how-to tips, and entertaining highlights. PlaySwap’s community extends across Facebook, Instagram, Discord, YouTube, TikTok, Twitter, and the PlaySwap Affiliate Program. This affiliate program offers generous commissions and exclusive rewards, fueling community growth and engagement. Across these platforms, gamers enjoy highlights, trending memes, industry news, and guides. This creates a space to laugh, learn, and earn together.

To support its community, PlaySwap hosts regular events, offers loyalty rewards, and builds a knowledge base filled with helpful resources. As a result, it has become a trusted destination for both trading and learning. “We’re building something more than a marketplace,” says Mr. Tong. “PlaySwap is a place for gamers to grow, connect, and make the most of their time and investments.”

Also read: Adapting to change: The future of game monetisation in 2024

The future of value-driven online gaming marketplaces

Under the leadership of CEO Hoang Minh Tong, PlaySwap continues to evolve as a solution to long-standing challenges in the online gaming industry. By prioritizing security, savings, and community, PlaySwap is reshaping how gamers buy, sell, and engage with the gaming world. As the platform grows, it aims to introduce new features, streamline its search and verification processes. It also aims to expand its global network of gamers, continuously refining the marketplace for an even better user experience.

For those seeking a comprehensive and secure platform to trade online gaming assets, save time and money, and stay informed, PlaySwap presents an ideal option. Gamers can explore all that PlaySwap has to offer and join a growing community of dedicated players worldwide. 

Learn more by visiting PlaySwap’s official website: https://playswap.gg/

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In today’s competitive landscape, launching a product or service with a global tech giant can seem like an insurmountable task. Yet, some companies have cracked the code of open innovation, demonstrating how networks, strategy, and a deep understanding of cultural nuances can play a pivotal role in achieving success.

Below are key insights on how open innovation thrives, the challenges involved, and the strategies startups can use to scale in this environment.

Winning strategies for global open innovation

To successfully engage in open innovation, startups must take a multi-faceted approach. Joining specialised accelerators, seeking investment from venture capitalists, and increasing visibility on platforms like Crunchbase and Pitchbook is essential for creating collaboration opportunities. These platforms allow large corporations to easily discover startups with the specific technologies they need.

LinkedIn also plays a crucial role in building global connections. By developing a strong presence and network, startups can directly engage with open innovation departments at large corporations. Startups should adopt multiple strategies at once to broaden their reach and boost their chances of securing partnerships with global giants.

Leveraging networks in AI SaaS launches

When launching an AI SaaS product with a global company, industry networks play a critical role. Startups with strong connections to key players like Softbank, Microsoft, and Salesforce gain easier access to decision-makers, which opens up opportunities that would otherwise be difficult to access.

However, having a robust network alone doesn’t guarantee success. Startups must also have a deep understanding of the challenges their partners face and maintain clear communication while aligning mutual goals. Collaboration and continuous coordination are vital for ensuring a smooth product launch. In this context, a strategic approach to utilising networks becomes essential for scaling and success, particularly in open innovation environments.

Also Read: The synergy of AI and DeFi: Shaping the future of finance

Building these networks isn’t easy for every startup, especially in international markets. It can seem daunting, but through targeted efforts, meaningful connections with the right companies can be made. Participating in startup events and working relentlessly to grow these connections are critical. While it requires strategic persistence, any startup can ultimately establish the right business network to drive their success.

Adapting fast: The silicon valley survival playbook

In Silicon Valley’s highly competitive landscape, the ability to adapt and learn quickly is crucial, especially when engaging in open innovation with global corporations. Startups often collaborate with large companies during proof-of-concept (PoC) stages, where flexibility and responsiveness are essential.

With fierce competition and rapidly evolving technology, startups must pivot and refine their solutions based on market feedback and partner needs. In open innovation, speed and adaptability are essential. Those who can quickly respond to challenges and feedback are the ones who thrive, while others risk being left behind.

Japan’s open innovation playbook: A guide for startups

Japan is a leader in open innovation, particularly among its large corporations. These companies have long understood the value of collaborating with startups in fields like AI and frontier tech. What sets Japan apart is its clear and defined future business strategies, which often guide these collaborations.

For startups looking to work with Japanese corporations, aligning their technology with the company’s pre-existing strategies is crucial. Startups without a proven product or track record may find it challenging to secure collaborations. However, once the viability of their technology is demonstrated, open innovation in Japan can lead to significant growth.

 The venture-client model: A total game-changer

One of the most important trends in open innovation today is the “venture-client model,” where startups become clients of large corporations. This model offers startups the opportunity to gain valuable real-world experience through long-term contracts and co-development while helping large companies solve business challenges.

Also Read: How corporate innovation in Vietnam is fledgling the B2B startup ecosystem

For startups, this model is a game-changer, as it allows them to prove their technology on a large scale, gaining credibility and increasing revenue potential. The venture-client model has emerged as a win-win for both startups and corporations, fostering long-term innovation and mutual growth.

Navigating regional challenges: Going global with a local twist

As startups expand globally, understanding regional market challenges and regulations is vital. For example, the biotech industry faces stringent regulatory hurdles, while software companies need to focus on localisation to meet the specific needs of users in various regions.

Localisation is essential for global success. By adapting products to meet local market demands, startups can ensure their solutions resonate with users worldwide, improving the chances of successful global expansion. Tailoring solutions to fit the needs of each market ensures that startups can thrive in different regions.

Thriving in uncertainty: Mastering agility for startups and corporations

With rapid technological advancements and constantly shifting market conditions, uncertainty is the new norm. Both startups and large corporations must adopt a mindset of agility and action to navigate these uncertainties. Large companies need clear strategies to address market shifts and identify new business drivers for growth.

Startups, meanwhile, should focus on expanding their networks and ensuring they don’t miss out on open innovation opportunities as they arise. By maintaining flexibility, constantly learning, and adapting both startups and corporations can position themselves to succeed in this evolving business landscape.

In an era where innovation is key to scaling and succeeding, startups must strategically engage in open innovation with global giants. By leveraging networks, adopting multiple strategies, adapting quickly, and tailoring solutions to global markets, startups can position themselves for sustainable growth. Open innovation offers both challenges and opportunities, but for those ready to seize them, the rewards can be transformative.

A special thanks to Sun Choi, Founding Partner at 2080 Ventures, for sharing invaluable insights that helped shape this article.

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In the age of social media and digital presence, the concept of a “personal brand” has become ubiquitous. As someone who has spent three decades navigating the ever-evolving media and communications landscape, I’ve witnessed firsthand the rise of personal branding and its impact on careers and businesses.

Today, I want to share my story of grappling with the decision to build a personal brand, the challenges I faced, and the valuable lessons I learned.

The allure of personal branding

Early in my career, personal branding was less prevalent than it is today. We focused on building our skills, networking in person, and letting our work speak for itself. However, as social media platforms gained prominence and the line between personal and professional lives blurred, I was at a crossroads.

I remember sitting in my office, scrolling through LinkedIn, and seeing colleagues and industry leaders amassing followers, sharing insights, and seemingly catapulting their careers to new heights through their online presence. The allure was undeniable. I thought, “Am I missing out on opportunities by not putting myself out there more?”

The turning point

My perspective on personal branding shifted dramatically after attending a conference where I heard Everette Taylor, CEO of Kickstarter, speak about the subject. His words struck a chord with me: “Before you build a personal brand, you have to be mindful of the impact of your words. Just be careful about that decision because you cannot put the genie back in the bottle.”

This statement made me pause and reflect. I had been so caught up in the potential benefits of personal branding that I hadn’t fully considered the responsibilities and possible drawbacks. Taylor’s warning about the permanence of our digital footprint resonated deeply with me.

Weighing the pros and cons

In the weeks following the conference, I found myself in a state of introspection. I thought about figures like Kevin O’Leary from Shark Tank, who seemed to thrive in the spotlight of personal branding. O’Leary had mentioned building his brand to “be part of the narrative.”

Also Read: How mental health startup Intellect’s founder catalysed his personal battle with anxiety

However, as Taylor pointed out, only some are built for that level of public scrutiny.

I asked myself some hard questions:

• Am I prepared to handle potential criticism and negative feedback?
• Do I have a clear purpose for building a personal brand beyond gaining followers or attention?
• How will this impact my relationships with colleagues and clients?
• Am I ready for the time commitment required to maintain a consistent online presence?

The decision and the journey

After much contemplation, I decided to dip my toes into the waters of personal branding, but with a carefully considered approach. I followed Taylor’s advice:

• Determine your why: I defined my purpose for building a personal brand. It wasn’t about becoming a social media influencer but rather about sharing my experiences and insights to help others in the industry navigate their careers.
• Stay true to your purpose: I committed to sharing only content that aligned with my values and expertise. This meant sometimes passing on trending topics that didn’t fit my narrative.
• Be mindful of the impact of your words. Before every post or comment, I carefully considered how my words might be interpreted and what effect they could have on others.

The challenges and lessons

Building a personal brand wasn’t without its challenges. There were days when I felt overwhelmed by the pressure to constantly produce content. I experienced moments of self-doubt when a post didn’t receive the engagement I had hoped for. And yes, I faced criticism and differing opinions that tested my resolve.

However, these challenges also brought valuable lessons:

• Authenticity is key: The posts that resonated most with my audience were those where I shared genuine experiences and vulnerabilities.
• Consistency trumps perfection: Regular, thoughtful engagement was more effective than sporadic, polished content.
• It’s okay to set boundaries: I learned to balance my online presence with my offline life, understanding that it’s perfectly fine to step back when needed.
• The power of community: Building a personal brand wasn’t just about self-promotion; it was about fostering meaningful connections and contributing to industry discussions.

Also Read: The business of social responsibility: Why brands are redefining their social conscience

While I approached personal branding with caution, I was pleasantly surprised by some unexpected benefits. My online presence opened doors to speaking opportunities, collaborations with respected peers, and even consulting gigs. More importantly, it allowed me to mentor young professionals who reached out after resonating with my content.

Reflecting on the journey

Looking back on my journey with personal branding, I realise that Taylor’s advice was spot-on. Building a personal brand is not a decision to be taken lightly, nor is it a one-size-fits-all solution for career advancement. It requires careful consideration, a clear purpose, and a commitment to authenticity and responsibility.

For those contemplating whether to build a personal brand, I offer this advice: Take the time to reflect on your motivations and readiness for public exposure. Be prepared for both the rewards and the challenges. And above all, stay true to your values and purpose.

In my case, while I may not have the massive following of a O’Leary, I’ve found a balance that works for me—one that allows me to contribute to my industry, connect with like-minded professionals, and continue growing both personally and professionally.

Remember, your personal brand is more than just your online presence; it’s the sum of your actions, words, and impact on others. Whether you choose to actively cultivate it or not, make sure it’s a reflection of your authentic self.

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Singapore-based mixed reality and AI company BuzzAR has secured US$1.16 million in funding from the HSBC New Economy Fund.

The firm is using the money raised to expand its presence in the Middle East and North Africa (MENA) region, particularly Saudi Arabia, where it has partnered with the tourism department.

Also Read: 100 million inbound travelers in Saudi Arabia to access ChatGPT in Arabic via BuzzAR

Founded in 2018 by Bell Beh and Ken Lim, BuzzAR specialises in experiential engagements that bridge the gap between offline and online spaces for its clients. In April of this year, the startup launched the AI travel companion BAE (Buzz AI Experience), which is trained to relate to each user’s emotions to be a digital tour guide. Beyond offering storytelling and personalised content discovery for travellers, it has built-in booking and payment functionalities to handle transactions for travellers on the go seamlessly.

BuzzAR saw the Middle East and North Africa (MENA) as potential prime tourist destinations and began expanding into the region in 2022. It is now working to digitalise Saudi’s hospitality industry by integrating its AI tour guide, BAE, with the Saudi Tourism Authority.

The Kingdom targets 100 million tourists by 2030 but faces a shortage of registered tour guides. With BAE, tour guides can handle bigger groups, target a wider audience, and free up their bandwidth to further personalise services and enhance the tourist experience.

Together with the Saudi Arabian Monetary Authority (SAMA), BuzzAR projects that BAE’s refinement and deeper integration can bring in one million travellers and US$3.2 billion in tourism dollars by 2026.

Also Read: Introducing BAE: The world’s first AI travel companion by BuzzAR

Saudi Arabia’s Public Investment Fund’s (PIF) Vision 2030 aims to diversify the economy. Its US$64b investment plan is geared toward helping the entertainment sector contribute more than US$23b, or 3 per cent of GDP, by 2030.

In 2022, BuzzAR raised US$3.8 million.

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Coolmate, a direct-to-consumer (D2C) men’s apparel brand in Vietnam, has completed its Series B funding round, led by Vertex Ventures Southeast Asia & India.

The investment will accelerate the startup’s international expansion, product innovation and omnichannel retail presence across Southeast Asia.

Also Read: Why Vietnam is the next big thing for startups and corporate partnerships

Founded in 2019, Coolmate specialises in “high-quality and affordable” apparel. It provides a diversified product range, including activewear, casualwear, and underwear, in partnership with top export-driven factories.

Coolmate innovates with eco-friendly materials like organic cotton, recycled fibres, and the latest eco-friendly production processes, such as clean dye technology. This resonates with Vietnam’s youth, many of whom are eco-conscious consumers.

Pham Chi Nhu, CEO and Co-Founder of Coolmate, said: “From day one, we’ve been driven by a mission to build a responsible business that positively impacts not only its customers but also its employees and society. At Coolmate, we are highly committed to reducing our environmental footprint whilst providing durable, stylish and comfortable clothing for modern consumers. These have always been our core values from the beginning.”

Vietnam’s domestic apparel industry is valued at US$6.4 billion, fuelled by favourable macroeconomic conditions and shifts in consumer behaviour. The fast-growing middle-class consumer segment strongly prefers quality and customer service. They are ESG-conscious and looking for affordability.

Also Read: VPCA to boost Vietnam’s investment landscape with US$35B private capital target

Vertex Ventures Southeast Asia & India is a leading early-stage venture capital firm that partners with high-growth startups across Southeast Asia and India. With a strong network and strategic expertise, it has invested in successful companies like Grab, Nium, FirstCry, and PatSnap.

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Technology has transformed almost every aspect of our day-to-day lives, from our work and house chores all the way through to entertainment. It has also strongly influenced our behaviour as consumers, changing our decision-making and buying habits.

One of the key technologies that are impacting consumer behaviour today is the adoption of live commerce and shoppable short videos. Businesses are beginning to recognise the importance of engaging their customers across multiple channels and driving higher consumer satisfaction through the use of live streaming and video technology.

In fact, a 2022 study showed that e-commerce platforms experienced a 115 per cent increase in orders from live streaming alone after a large influx of digital consumers from the APAC region. Furthermore, this trend isn’t going away any time soon.

According to a report by Andreessen Horowitz’s a16z, live shopping is expected to triple in revenue by 2026 and account for 20 per cent of all e-commerce transactions. 

So what makes live commerce so impactful and effective? The simple answer would be that consumers are looking for “shoptainment”, or an experience that goes beyond a simple purchase and includes personalised and entertaining features to the shopping journey. As  Andreessen Horowitz described, “It’s not just a transaction. Consumers seek out personalised and entertaining shopping experiences.” 

Also Read: The thrills of online shopping: Exploring Vietnam’s e-commerce haven

There are a handful of key reasons why live commerce is so effective, as shoptainment can be many things, and it certainly brings together several aspects and strategies to meet modern consumers’ demands, such as:

Personalised shopping

Through data analysis and machine learning, technology helps businesses to better understand their customers’ preferences and shopping behaviour. Businesses are then able to offer personalised recommendations and promotions, which can improve the overall shopping experience for consumers.

Therefore it is imperative, in my opinion, for businesses to gain access to first-party data as much as possible. This will enable them to accurately create shopper personas and push relevant content and information. With such personalisation and great sales mechanics, sales conversion would naturally follow.

Instant access to real-time information

At present, the world wide web makes it easier for consumers to research products and services before making a purchase. Consumers can read reviews, compare prices, and research the features and benefits of products online.

However, with the power of live streams, businesses are now able to replicate an almost identical in-store shopping experience virtually. Consumers can ask questions in real-time and live sellers are able to answer them immediately.

Features of the products can be demonstrated, and consumers can make purchasing decisions almost instantaneously. With information at their fingertips, consumers can then make a decision quickly, improving the conversion rates of a live stream.

The possibilities of future technology

The final reason is that technology has endless capabilities. From virtual hosts to metaverses to NFTs, consumers are now being introduced and exposed to various forms of these technologies within the live commerce space. These advancements will eventually be geared towards building a more engaged consumer market who are more loyal and would like to purchase products repeatedly.

It is this final reason that suggests to me that the live commerce space will continue to develop at a rapid pace. Looking ahead, there are plenty of interesting technological developments that would potentially change the meaning of consumer engagement in the years to come, such as augmented, virtual and extended reality (AR, VR, and XR), virtual hosts, and artificial intelligence.

Also Read: 3 success tips to help e-commerce businesses unlock online success

When it comes to AR, VR, and XR, these technologies allow consumers to see how a product would look on them or in their space before they make a purchase. This changes the entire live streaming experience, where consumers can now do virtual try-ons or “walk” into a store to browse the catalogue in a live stream. This creates an immersive and engaging consumer experience. 

While virtual hosts are typically computer-generated characters that serve as hosts or co-hosts of the live stream, they take a variety of forms, from simple characters to more complex avatars that use machine-learning algorithms to mimic human behaviour and conversation.

They can be customised to fit the style and tone of the live stream and are able to interact with the audience through chat or other forms of online communication. In addition to this, they can operate 24/7 and can be replicated across multiple platforms and streams at the same time. 

Of course, artificial intelligence has been a buzzword for many years, but it is only now, with the rise of ChatGPT, that we can truly witness the power of AI far and wide, and this, I believe, will be a game changer in the industry.

The power of AI to extract, consolidate, and process key vital information about a consumer would be important for businesses to be able to curate more meaningful and impactful content to convert them into loyal and paying customers. With the abundance of data that is prevalent in a live stream, businesses must harness the power of AI to gain an advantage over their competitors in the space. 

In conclusion, while the adoption of live streaming as a powerful tool for brands looking to connect with their audience and build trust and loyalty is gaining momentum, the technology surrounding the ecosystem is developing fast and moving ahead of the innovation curve.

It is imperative for brands and businesses exploring live commerce as part of their product offerings to partner with solutions providers who are able to understand their requirements and bring in insights from having worked with hundreds of implementations globally.

This way, brands across the globe can ensure they are meeting modern consumers’ demands as well as integrating the top technological trends to stand out and keep clients coming back for more.

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This article was first published on April 10, 2023

The post Beyond live shopping: What’s next? appeared first on e27.

The student debt crisis is a financial burden that millions of people continue to grapple with worldwide. In the US alone, student loan debt stands as one of the largest categories of consumer debt, with more than 42 million people owing over US$1.7 trillion.

As tuition fees continue to rise and federal relief programs face political and legal roadblocks, students and recent graduates are being saddled with financial obligations that impact every aspect of their lives — from career choices to buying homes, starting families, and even mental health.

The struggle of student debt

The student debt crisis has far-reaching consequences, especially for low-income and minority communities. Studies show that the financial burden disproportionately affects racial minorities, with Black and Latino borrowers facing higher average loan balances and default rates. One of the most significant consequences of student debt is its impact on economic mobility.

Graduates with large amounts of debt are often forced to take higher-paying jobs in sectors they’re less passionate about, as opposed to lower-paying public interest positions that align with their skills and values. This phenomenon, commonly referred to as the “public interest penalty,” stifles innovation and limits career flexibility.

Recent attempts at federal student loan forgiveness, such as President Biden’s proposed US$20,000 relief plan, were thwarted by legal challenges, leaving millions of borrowers in limbo. Despite these setbacks, there are other relief programs like the Public Service Loan Forgiveness (PSLF), which offers debt forgiveness for workers in public service fields, though poor implementation in its early years left many qualified borrowers unable to access its benefits.

The Biden administration has made efforts to revamp these programs, offering over US$175 billion in total debt cancellation for nearly five million people since 2021 , but the reality is that for many, this isn’t enough.

The role of edutech in tackling the student debt problem

As student debt continues to rise, the role of edutech companies becomes more critical in addressing this issue. The edutech space is uniquely positioned to disrupt the traditional education finance system through innovative learning platforms, income share agreements (ISAs), and now, blockchain-based solutions. One of the most promising approaches in this space is the integration of technology to make education financing more accessible and flexible for students.

Also Read: Edutech is surging, but here are the 3 issues it is facing

Edutech companies have introduced alternative ways for students to finance their education, such as ISAs, where students agree to pay a percentage of their future earnings instead of taking on traditional loans. This model ties payment to success in the workforce, aligning the interests of both the student and the institution.

Notable edutech platforms like Lambda School (now known as BloomTech) have popularised ISAs in the tech space, allowing students to pay tuition only once they land a job. These innovations are changing the conversation around student debt and offering pathways to education that aren’t reliant on traditional loan models.

Another area where edutech is making strides is in leveraging blockchain technology for decentralised financing solutions. Blockchain has the potential to address many of the inefficiencies and lack of transparency in the current student loan system by providing secure, verifiable transactions and opening up opportunities for peer-to-peer financing. This is where Open Campus enters the picture.

Open Campus and blockchain-based student financing

At Open Campus (OC), we’re committed to tackling the student debt crisis head-on by leveraging decentralised technologies to create a more equitable system. With a portfolio of 60 edutech companies and over 22 million students, OC is in a unique position to provide a comprehensive financing solution. We believe that blockchain offers a way to transform not only how education is funded but also how students access that funding.

Through our decentralised education finance initiative, EduFi, we’re tokenising the US$1.7 trillion education finance market to revolutionise how students, investors, and institutions engage with student loans. By using blockchain, we’re creating a transparent and secure way for students to access funding without the bureaucratic red tape of traditional lenders. The decentralised nature of blockchain also opens the door for more creative financing solutions, like peer-to-peer lending and smart contracts that can automate repayment processes based on income.

Our vision at Open Campus goes beyond just lowering the cost of education. We aim to create a sustainable financial ecosystem where students can receive funding from a diverse set of investors, ranging from individuals to institutional players. By tokenising educational financing, students can access loans that are more flexible and tailored to their financial situation, with the potential for better interest rates and more favourable repayment terms. This, in turn, makes education more accessible for underserved populations, who are often disproportionately affected by the traditional student loan system.

Strategic partnerships and future opportunities

To make this vision a reality, we’re not going at it alone. We’re working to form strategic partnerships with various financial institutions, blockchain innovators, and even traditional venture funds that are looking to make a social impact through education. One key aspect of our approach is creating pathways for students to not only secure funding but also build their digital identity through verifiable credentials on the blockchain.

Also Read: The digital classroom: How edutech is sculpting the minds of tomorrow

Through strategic partnerships, we plan to collaborate with funds that are interested in co-raising and funding projects that align with our mission. For example, we’re exploring opportunities to work with decentralised autonomous organisations (DAOs) focused on education, where funding can be crowdsourced directly from members who believe in the power of education to change lives. This collaborative approach is essential for scaling our efforts and ensuring that millions of students can access the financial resources they need.

Moreover, we’re keen on establishing student distribution pathways, partnering with schools, educational platforms, and governments to help more students access decentralised loans. This multi-faceted strategy will help onboard millions of students into Web3 while solving the pressing issue of student debt. Imagine a future where students aren’t bogged down by crippling loans but instead are empowered by a flexible, transparent system that works in their favour.

The road ahead

The student debt crisis is a challenge that demands innovative solutions, and at Open Campus, we’re proud to be part of that solution. By leveraging blockchain technology, we’re not just offering a better way to finance education — we’re building a system that aligns the interests of students, educators, and investors alike.

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