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Beyond the Hype: How startups can scale sustainably through compelling communications strategies

Startups

In the current entrepreneurial landscape, achieving sustainable growth is paramount. While rapid expansion can be alluring, prioritising long-term viability over short-term gains is critical for true success. This approach, anchored in effective marketing and communication strategies, fosters a loyal customer base and a resilient business model.

Establishing a Foundation for Enduring Success

  • Product-Market Fit: Before scaling your operations, ensure a robust product-market fit. Conduct rigorous market research and leverage customer feedback mechanisms like surveys and user testing. Utilise this data to refine your product or service until it demonstrably addresses a specific customer need. This reduces customer acquisition costs in the long run and lays the groundwork for organic customer acquisition through positive word-of-mouth.
  • Brand Identity Development: Craft a clear and consistent brand narrative that effectively communicates your value proposition. This narrative should resonate deeply with your target audience and guide all marketing and communication efforts. Invest in building a compelling brand story that showcases your purpose and core values. A strong brand identity attracts the ideal clientele, those more likely to become loyal brand advocates.

Also read: Solos: Breaking barriers for innovative eyewear technology

Beyond the Bottom Line: Building on Loyalty for Growth

  • Optimising Customer Lifetime Value (CLTV): Customer retention is demonstrably more cost-effective than new customer acquisition. Implement strategies to cultivate customer loyalty and encourage upselling or cross-selling opportunities. This might encompass loyalty programs, exceptional customer service experiences, or exclusive content offerings for existing customers. By prioritising CLTV, you cultivate a more profitable customer base.
  • Data-Driven Marketing Decisions: Marketing initiatives should be guided by data, not intuition. Closely track key metrics such as customer acquisition cost (CAC) and return on investment (ROI) for all marketing campaigns. Analyse these metrics to identify the most effective channels for reaching your target audience and optimise campaigns for superior performance. A/B testing various marketing approaches allows for continuous refinement of your strategy.
  • Content Marketing as a Cornerstone: Develop high-quality, informative content that educates and engages your target audience. This establishes your brand as a thought leader in your industry and fosters trust with potential customers. Content marketing attracts organic traffic, improves search engine ranking, and nurtures leads through the sales funnel.

Effective Communication for Sustainable Growth

  • Transparency as a Core Value: Maintain an open and honest dialogue with your customers throughout your growth journey. Communicate your goals, challenges, and milestones transparently. This fosters trust and strengthens the sense of community surrounding your brand.
  • Cultivating a Customer Community: Create a platform for your customers to connect with each other and with your brand. This could be through social media communities, online forums, or even in-person events. A thriving customer community fosters loyalty, provides valuable feedback for product development, and serves as an organic marketing channel through word-of-mouth promotion.

Also read: Zoho: Powering businesses of all sizes through digitalisation

Strategic Exit Planning for Long-Term Value Creation

  • Financial Performance Monitoring: Continuously monitor key financial metrics like profitability, cash flow, and burn rate. Be prepared to adapt your operations, or even consider a strategic exit, if the business model demonstrates long-term un-viability. Data-driven decision-making is crucial for safeguarding the interests of all stakeholders.
  • Market Saturation Considerations: Should your market become saturated with competitors, explore strategic pivots. Consider partnerships, mergers, or acquisitions to expand your reach or access new resources. Sustainable growth is a strategic endeavour, not a fleeting pursuit. By focusing on building a robust foundation, taking calculated risks, and prioritising long-term customer value, you can position your startup for enduring success. By combining these marketing and communication strategies with a data-driven approach, you’ll be well on your way to achieving sustainable growth and creating a brand that resonates deeply with your target market.

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This article is produced by PRecious Communications

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Surge leads self-service customer support platform Brainfish’s US$2.5M seed round

(L-R) Brainfish founders Ajain Vivek and Daniel Kimber

Brainfish, an AI-powered self-service customer support platform for businesses, has raised US$2.5 million in seed funding.

The latest round was led by Peak XV’s Surge, with participation from Macdoch Ventures, Black Sheep Capital, existing angel Justus Hammer (CEO MadPaws), and new angels.

This brings its total capital to US$3.3 million.

Brainfish will use the new funds to double down on product innovation and accelerate international expansion.

Also Read: From chatbots to therapists: How AI breaks ground in bridging the mental health care divide

For online businesses today, customer service is based on the premise of helping people understand how a product works. Customers do not want to sift through numerous help articles or go through a chatbot workflow just to get through to a human to answer their questions. They just want their question answered instantly.

Brainfish is an AI product expert who helps customers understand a product and helps businesses understand their customers. The Brainfish AI search function combines a company’s knowledge documents and contextual understanding of the user to deliver instant, real-time answers that are personalised to the specific customer scenario.

“Customer support has not changed much in decades. The tooling might be better today, but primarily people want to speak to a human when they have a problem because human support is armed with institutional knowledge of a product. We’re turning this on its head at Brainfish. We aggregate complex data to create one digital source of truth, eliminating 90 per cent of the need for humans to support and interact with the customer and saving companies countless hours,” said Daniel Kimber, CEO and Co-founder of Brainfish.

AI has emerged as a transformative force in the customer service market and is poised to reach US$7.08 billion by 2030. Businesses have begun to leverage machine learning and automation to streamline customer interactions, optimise efficiency, and develop personalised experiences to revolutionise customer experience (CX) for the future.

Also Read: Microsoft to empower 2.5M Southeast Asians with AI skills by 2025

While businesses are predominantly using AI for customer support, it has yet to trigger a significant decline in the number of human agents required2. Brainfish addresses this issue by deflecting queries from a human interaction altogether and has recorded the highest deflection rate of any AI self-service solution on the market.

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How product growth helps both you and your users succeed

It may be idealistic, but I have always believed that the right digital product has the power to deliver tangible change in the world. A digital banking app can increase financial accessibility, and an IoT agritech ecosystem that helps farmers increase their yields.

However, change cannot happen unless people can use these products to successfully solve their problems.

It can be frustrating to see great ideas never reach their full potential, but this can be avoided when companies prioritise user success through product growth.

What is product growth?

Product growth is the process undertaken to increase a product’s value, identify new ways to satisfy users, attract new customers, and boost revenue. There are 6 different aspects of the product growth process which together drive business success.

SP_Expert Spotlight_Product Engine Diagram

Attracting new customers is just the first step

Of the 6 stages of product growth, the acquisition is arguably the most similar to traditional digital marketing. The goal of the acquisition is to drive product awareness and acquire new users and involves familiar marketing tools like technical SEO, app store optimisation, paid ads, and engaging content.

However, simply attracting users to your product or service doesn’t set them up for success or foster customer loyalty. It’s important to optimise every stage of the product growth engine to ensure that customers are able to successfully use your product or service. After all, a successful product helps its users succeed.

Also Read: 7 ways to optimise your product page to attract more sales

A real-life example of a product that drives user success is video games. Video games ensure that the player (i.e. the user) understands the game’s controls and tools to help them achieve as many goals as possible.

As players progress through the game, they continue to receive introductions to new features or skills so that they can adopt them into gameplay. If a player gets stuck, they’re able to access tips from the game and other players on how to proceed to the next level.

A new release doesn’t guarantee ROI

Product growth and funnel optimisation are more valuable for your business than feature releases. Rather than spending resources and time developing a brand-new feature based on a gut feeling, it can be more effective to identify where your users drop off.

An insurance app might discover that several users fail to fill out an in-app request for insurance quotations. 

One reason for the drop-off might be that users need to submit their license plate number, which many users don’t have on hand. This issue can cost the insurance app valuable leads. However, by separating the form into separate steps, the insurer can collect a customer’s contact details and collect the license number later. This increases the user’s experience, satisfaction, and product revenue and avoids having to release a new feature.

Successful funnel conversion of your users is fundamental to your business success. Aim for the completion of user journeys — whether it’s to learn something new or to upsell a paid subscription. This drives business value and impact, both for your business and within the product itself.

SP_Expert Spotlight_Product Funnel (1)Even a modest improvement is a substantial return on investment. A small percentage of improvement in drop-off rates increases your conversion rate massively and contributes to your bottom line.

Plan for continued user success

Here are some ways you can plan for product growth success:

  • Reach optimistic goals by planning like a pessimist. Think about all the ways things might go wrong. Consider whether or not users can complete jobs and why they might fail to make transactions on your app.

Also Read: How to hack product growth and user acquisition in Thailand

  • Make data-driven decisions that improve the customer journey. Go beyond initial research and don’t rely solely on feelings or hunches. Perform AB testing and optimise your user onboarding.
  • Set KPIs  based on your company’s core objectives. Revenue and number of users may seem like a good benchmark, but if these metrics don’t align with your company mission and vision, then your product growth process will not deliver the results that your stakeholders are looking for.

The top benefit of product growth

From my experience, successful product growth converts your users into loyal product advocates.

When a customer becomes a product advocate, they aren’t just able to use your product to its full potential but love it enough to build a community of other product advocates and recommend it to others.

An example of this is the Figma community, Friends of Figma. This group isn’t an official platform run by the company but is run independently by a group of users who love Figma and use the forum as a place to share experiences, tips, and tricks on how to best use Figma to achieve their day-to-day tasks.

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How sustainability reporting and supply chains can drive ASEAN’s competitiveness

ASEAN countries have consistently achieved high economic growth rates, which are attributed to careful macroeconomic strategies, relatively open trade and investment policies, and access to export markets in developed nations.

A key driver of the ASEAN economies is the manufacturing supply chains. From 2015 through 2019, manufacturing exports from ASEAN’s ten member states averaged five per cent annual growth—outpacing the global average of three per cent.

As governments across the world implement ESG and reporting regulations, businesses and manufacturers in ASEAN are faced with increased urgency and pressure to adopt sustainable practices to maintain competitiveness in the global supply chains. More than that, there are significant opportunities to extend its capabilities in manufacturing and establish competitiveness in green manufacturing.

The rise of ESG regulations and sustainable procurement in ASEAN and beyond

Globally, regulatory frameworks have evolved rapidly, led by the European Union with parallel initiatives in Asia.

Under the Carbon Border Adjustment Mechanism (CBAM), exports to Europe will be subjected to carbon tax on their emissions starting in 2026, posing major trickle-down effects for ASEAN businesses by affecting export competitiveness.

The release of the International Financial Reporting Standards’ (IFRS) inaugural ISSB standards in June 2023 has also placed renewed attention on the ASEAN ESG regulatory landscape. Many ASEAN governments have started taking a phased adoption approach in incorporating new global sustainability reporting standards, with Scope three emissions reporting due to become mandatory under regulatory standards from 2025 onwards. Reporting is also no longer confined to just publicly listed companies but also non-listed and smaller companies.

Also Read: The future of finance: ESG integration in tokenised funding

Digital tools needed to accelerate corporate sustainability

Today, sustainability reporting, especially for businesses with extensive supply chain activities, involves the demanding and manual process of collecting data from various sources such as SMEs, suppliers, clients, and other stakeholders within the supply chain.

In the ASEAN context, where SMEs dominate the market and supply chains, accounting for 98 per cent of existing businesses, this challenge is particularly pronounced. SMEs face difficulties in commencing their corporate sustainability and sustainability reporting journey efficiently, mainly attributed to the absence of streamlined digital processes, sufficient resources, and requisite expertise.

As such, a gap has emerged in ASEAN between the growing data needs for comprehensive ESG reporting and the actual availability of such data in SMEs and entities in their supply chain, presenting a challenge around compliance.

Embracing supply chain transparency for green manufacturing

While local reporting is not yet mandated across most ASEAN countries as of 2024, foreign corporates and MNCs, which ASEAN manufacturers serve, are increasingly adopting sustainable procurement, causing major trickle-down effects on ASEAN businesses.

There is a need for ASEAN businesses to prove their green-ness in order to set themselves up for greater business and investments opportunities.

This is where ESG tech and digital solutions come in to play a key role in empowering ASEAN businesses and manufacturers towards corporate sustainability and ESG compliance.

Digital solutions like ESGpedia play a pivotal role in helping to facilitate easier and more robust self-serve reporting for ASEAN companies, with subsequent third-party assurance and certification. They help support efforts to navigate the evolving ESG regulatory landscape by digitalising country-specific and international reporting frameworks (e.g. ISSB, TCFD, GRI, etc.) for a streamlined and guided way for businesses, especially those with limited resources and expertise, to easily access and input. This is particularly beneficial in times when regulations are becoming increasingly complex and soon to be mandatory.

Third-party assurance and certification can also be digitally facilitated by technology. This is important as they offer credibility and recognition to companies so that they can effectively prove their sustainability commitment to global MNCs and stakeholders, mitigating the risk of greenwashing. For instance, an ISO14064 aligned report produced under the renowned ISO standard serves to recognise company’s commitment towards establishing, validating, and reporting its GHG emissions in accordance with international standards.

Establishing Scope three GHG metrics with full value chain calculations​ is a fundamental step for the ASEAN manufacturing sector to embark on sustainability. However, Scope three GHG calculation is typically a time-consuming and complex process, requiring great ESG expertise and manual data collection from each supplier.

Also Read: 6 reasons why startups should invest in sustainability

To lower the barriers to this seemingly massive ESG challenge, businesses and manufacturers in ASEAN can leverage technology solutions to digitally streamline the end-to-end process, from data collection to mapping both the value chain and product lifecycle, accurately calculating the company’s Scope three emissions in accordance with industry methodologies, and to take actions to actively engage suppliers in order to drive compliance with regulations across the entire supply chain.

Government support to facilitate doing well while doing good

It is no doubt that sustainability equates to profitability in the long run. It is time for ASEAN countries to extend their focus and capabilities from manufacturing to green manufacturing to maintain competitiveness in the global market.

ASEAN countries can benefit by engaging in cross-border collaboration to build their green economy and workforce. For instance, the Singapore government’s Budget 2024 covered a tiered support approach for businesses on their digitalisation roadmap, particularly focusing on financial support for training and digital adoption as well as digital technologies such as AI. This is something that the other ASEAN governments can consider emulating in order to advance ESG initiatives across the region.

Governments across ASEAN can also consider introducing a standardised set of guidelines in relation to ESG disclosures to help companies future-proof against upcoming mandatory sustainability reporting to be implemented in 2025. Relevant examples already implemented in the region include the Simplified ESG Disclosure Guide (SEDG) Adopter Programme in Malaysia, as well as the Sustainability Report (SuRe) Form in the Philippines.

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Vatic AI to focus on financial services clientele following appointment of new President & CEO Dilip Krishnan

Dilip Krishnan steps into the role of President & CEO at Vatic AI, succeeding Arthur Becker, who transitions to Executive Chairman.

Krishnan, who is based in Singapore, will also join the board of directors. With over 16 years of experience in Digital Innovation and Corporate Strategy, Krishnan brings a wealth of expertise. His responsibilities will encompass overseeing Vatic AI’s global expansion into new markets, managing mergers and acquisitions, and spearheading the development of new AI products, mainly focusing on predicting creditworthiness within anonymous online audiences.

Having previously served as the Global Lead for Digital Transformation at Mastercard Data & Services, Krishnan boasts a proven track record in driving growth and innovation. His background includes stints at esteemed financial institutions such as OCBC Bank, Citi, and HDFC Bank, where he played pivotal roles in designing and executing transformative strategies and fostering fintech partnerships. Moreover, Krishnan’s involvement as a mentor with Enterprise Singapore and SMU Institute of Innovation & Entrepreneurship underscores his commitment to nurturing the startup ecosystem across the region.

Under Krishnan’s leadership, Vatic AI aims to leverage its Qscore product, which uses AI to predict the credit qualifications of anonymous online audiences.

“In the longer term, we envision being the audience intelligence platform of choice across industries, helping to strengthen credit access by leveraging Artificial Intelligence (AI),” he says in an email to e27.

Also Read: Artificial intelligence and the art of building presentations

By harnessing proprietary algorithms, the company seeks to optimise advertising expenditures at the Top of the Funnel while simultaneously driving down customer acquisition and processing costs for the finance industry. With Krishnan’s vision and experience at the helm, Vatic AI is poised for strategic growth and continued innovation in artificial intelligence and financial services.

“We saw that traditional digital advertising platforms use broad keyword categories for audiences, which can lead to irrelevant targeting. With more precise keyword categories, we can create more value to the online experience for both brands and consumers. Combining this with our data refreshes happening every hour, instead of DSP data normally 30 days or more old for audience categories, we can be the most relevant and reach the most in-market users,” Krishnan explains.

Regarding its Qscore product, he says, “We have developed our Qscore product for the finance industry, which uses AI to predict the creditworthiness of our audiences based on multiple factors, indicating the individual user would be qualified financially for a wide range of products. This AI technology allows brands to optimise their top-of-funnel advertising and only advertise to the audiences qualified for their products, massively reducing customer acquisition costs.”

This is why the financial services industry will be the company’s focus today.

“We are actively engaging in acquiring digital banks and lenders as key clients, using our marketing efforts to show our AI’s value and solve their issues of unqualified leads, high decline rates, and ad waste. We are working on strategies in key growth markets in Asia Pacific where we can solve these issues,” Krishnan says.

Also Read: These Artificial Intelligence startups are proving to be industry game-changers

Vatic AI has raised funding from investors such as Jenny Johnson (President & CEO of Franklin Templeton) and Arthur Becker.

The company said that it currently works with around 300 paying clients.

“Our inception was over five years ago, when we built a team offering managed services for our core AfterSearch technology. We used keyword targeting for our clients to improve their results in display advertising. Post that, we’ve scaled substantially with our executive team based in Singapore and improved our product development and focus to become a data tech SaaS company.”

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Image Credit: Vatic AI

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Founders of Fabelio, Gadjian, and eFishery reveal their top productivity hacks to start the day

In addition to running their businesses, startup founders have another important responsibility to take: To stay in tip-top condition throughout the day. They are expected to be in 100 per cent condition all the time; not only for the business that they are running but also to set up an example for their team members. It is also known that a productive day begins with a good morning routine that is able to improve one’s mood and organise their activities.

DailySocial sits down with several Indonesia-based startup founders –Fabelio, Gadjian, e-Fishery– to learn about their go-to productivity hacks. Hopefully, this can serve as a reference for those who are struggling with time management.

The first tip comes from Christian Sutardi, one of the co-founders of Fabelio, who happen to have a unique morning routine. He wakes up after seven hours of quality sleep –without the help of alarm clock. The founder then proceeds to check the company’s performance report from the previous day while enjoying a glass of sugarless iced americano. He also responds to incoming messages according to their priority.

“Then I moved to the living room, have a glass of water, and check the news headlines of the day. Usually, I would read international news on Bloomberg. I start with international politics, COVID-19 updates, the stock market, and any other news that Google recommends. My news preference includes furniture industry, startups, stock market, football, and other sports,” Sutardi elaborates.

Sutardi officially begins his office hour at 8.30 AM. To maintain his productivity, he implements a framework known as “eat the frog first” or to start with the most urgent tasks (the “frogs”). The framework demands users to start with just one of the most pressing task as the first thing to do in the morning. The task does not have to be finished in one go; users are allowed to continue the next day.

Also Read: SEA tech founders playbook: A to Z of becoming a fundraising legend (Part 1)

The next tip comes from Afia Fitriati, CEO of Fast8 Group, the company behind the Gadjian, Hadirr, and Benefide platforms. For Fitriati, getting enough sleep is crucial in maintaining productivity. By getting enough sleep, according to her, the brain will be able to take a moment to recuperate after a long day at work. I will also be able to gain clarity in thoughts.

“There will never be enough time for everything, so it is very important for founders, or anyone in the startup ecosystem, to be able to prioritise. If you are doing it wrongly, you risk wasting precious time that you can never get back, doing insignificant activities. So, my advice is to always ask yourself every day: Do the things that I am doing today matter or not?” Fitriati points out.

The last tip comes from Gibran Huzaifah, CEO and Founder of eFishery, who considers himself as a morning person just like the other two founders. He prefers to use the morning to exercise, plan his day, and learn new things.

“The morning hours are the brightest, most exciting time of the day, that is why I always start with activities that make me feel pumped: Exercise, planning the day. The exercise can include a jog around the house or a seven-minute workout. It helps to improve energy and maintain mental health,” he explains.

“Then I spare a slot to learn or read. If I don’t get to read, I’m going to take an online course on Udemy. On Saturdays and Sundays, I like to spare four hours for learning activities like this, in the morning and evening. With this learning slot, whenever there is a new task or role to take, we can hit the ground running because we always spare the time to learn,” he continues.

Huzaifah also believes that every urgent or impactful task need to be done in the morning, such as strategic thinking or planning, followed by an internal update and problem-solving. If there is a key project or metric that he has been delegating, he is going to spend time in the afternoon to work on something meaningful for the project.

Also Read: 5 productivity hacks for successful people

“The other crucial moment happens in the evening after family time, once the children are asleep when I would review the agenda of the day. Which one goes well, which one doesn’t. It usually involves a simple question: What do I need to do to be five to 10 per cent better than now? Especially on Sundays, I have one more sheet to track my time management. It becomes a base for my improvement plan next week,” he continues.

All three sources agree on the importance of time management. For Huzaifah, having a good system will enable founders to manage their mind, energy, and time. This includes building a good daily routine, complemented with constant evaluation.

“A great part of our life is spent doing things related to work. By becoming more productive, we can do more in a much shorter time. This will enable us to allocate more to other parts of our life, maximise our potentials as a human being, and contribute as much as possible,” Huzaifah closes.

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This article was written by Prayogo Ryza in Bahasa Indonesia for DailySocial. English translation and editing by e27.

Image Credit: Tim Foster on Unsplash

This article was first published on October 26, 2020

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From ideas to impact: A categorical approach to green tech in Southeast Asia

“It’s not about ideas. It’s about making ideas happen.”

If you are reading this then you no doubt also have a sense of urgency as we observe and digest what is happening to our climate and planet.

The inevitable question then becomes, “How can we collectively work together to make a difference?”.

To further break this down, we must include Southeast Asia (and its cities) in the solution.

Why? Consider these immutable drivers:

  • It is the region with the highest growth globally in terms of population and city growth.
  • The demographic bulge is around a very young population (compared to ageing regions such as North Asia, Europe or North America).
  • It adds the equivalent of a New York City every six weeks in new urban sprawl.
  • Cities account for 75 per cent of global CO2 emissions (but are only three per cent of total land mass).

If we don’t get Southeast Asia “right,” then our global environmental issue can’t be demonstrably solved or improved.

With Southeast Asia so critical, what models or precedents can we observe and potentially adopt to accelerate sustainability and green tech?

Also Read: Growing and transforming global green techs for sustainability

Consider how software evolved in only the last few decades.  It is not only the overwhelming majority of capital spend and investment for businesses but also ubiquitous and integral to our personal lives and our consumption of both services and products.

But it was only a couple of decades ago that software was in monolithic (say ERP) isolated stacks.  It was only specific IT members with deep domain expertise who understood the tech and its usage.

This looks very similar to today’s green tech solutions. It’s difficult to understand areas such as “carbon footprint and management”, “waste to fuel”, or “hydrogen power”. What are the categories around these that are relevant for my business or as an employee? How and where should I start? Am I making the right decisions on the tech, and how do I create an overall integrated architecture that makes sense?

Software presents a very compelling example and set of learnings in this regard.

Firstly, software and its impact and relevance were continually and simply explained to us. We were “conditioned” around “what problem it solves”. From this problem, we then began to understand this new category. This is a critical step in adoption because we think in categories.

A simple example of this is our neighbourhood supermarket. It is not organised alphabetically (or pictograms, etc.). It is in categories. And if we were to jump into a time machine and go back to our supermarket 20 years ago, many of today’s categories (“vegan”; “non-gluten”; “energy drinks”) wouldn’t exist.

If we take that same time machine to 20 years in the future, we will see many new categories that we never thought of, that we never thought we needed! This is because we have been conditioned (and explained to) around why the categories (based on a problem) are relevant to us.

Switching back to software, we see how clear categories evolved. In fact, an entire industry (tech analysts such as Gartner, Forrester, and IDC) was formed to tell us what those categories are and who the respective leaders are in each of them.

This meant that both IT and the business functions could talk about “architecture”. What key problems are we targeting, and how will we architect and combine the categories of software needed?

Also Read: Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges

This is in an ecosystem where solutions can be integrated and interoperate with each other (and “system integrators” are another whole industry based on this).

We  are clearly not “there” yet with sustainability and green tech:

  • The solutions are still very difficult to understand for a broad set of internal employees or external users. They are thus not clear “categories” yet.
  • They are largely stand-alone and do not easily integrate into a multi-component ecosystem.
  • From a business or individual standpoint, it is difficult to see why I would adopt and benefit from this solution.
  • ESG, while at least a broad-based framework, is open to interpretation with a convoluted set of components (such as diversity and inclusion).

For green tech startups and innovators to flourish and become as ubiquitous as software, they must “condition” and explain to us the core problem being solved and why it is relevant to us.  This is a “point of view” rather than the product and its tech specs. Within this POV, tell us what this new category is.

And a category cannot exist as one company.  There has to be an ecosystem of partners, channels, regulatory agencies, APIs, data flows (the list goes on).

For real change and impact in Southeast Asia and its urban growth, we must move from isolated products and tech to clear categories and their surrounding ecosystems.  This is a massive opportunity for green tech startups and innovators to seize category and market leadership.

The critical context and impact of Southeast Asia in climate and sustainability around this has never been greater.

As business leaders, investors and advisors, we must encourage green tech startups and guide them on how to elevate their category strategy and the accompanying ecosystem mapping and execution.

It’s about designing the future and not just following! Carpe Diem, Let’s go make a difference!

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Talino Venture Studios launches, invests in inclusive instant payment system Higala

Higala President and CEO Vice Catudio

Talino Venture Studios, a global venture studio for sustainable innovation, and Chemonics International, a sustainable development firm, have launched and invested in Philippine fintech startup Higala.

An inclusive instant payment system (IIPS), Higala connects thrift banks, rural banks, and microfinance institutions currently excluded from payment networks because of high switching and on-ramp costs.

Also Read: Talino Venture Studios lands US$5M to bridge financial inclusion in emerging markets

Despite 400 rural banks in the Philippines, only 18 are part of InstaPay because of the lack of interoperability among them. As a result, the full potential of financial inclusion remains largely untapped, depriving many Filipinos of the benefits modern banking technologies can offer.

Higala promotes inclusion by lowering the cost of real-time payments, helping financial institutions price their instant payments reasonably. It also aims to provide inclusive financial solutions to the underbanked and rapidly enable merchants to accept digital payments.

The fintech startup is also building a core instant payment technology that can accommodate financial institutions of all sizes and turn banks into digital banks through white-label app services.

Higala leverages the open payment platform of the nonprofit Mojaloop Foundation. With Mojaloop’s open payment framework, Higala facilitates connectivity among various financial entities, including banks, institutions, payment gateways, merchants, and the central bank. This approach enhances affordability and accessibility in financial transactions.

“Higala will help modernise our country’s digital financial infrastructures and enable the participation of financial institutions through our network. Our goal is to make banking more inclusive, especially to the underserved segments of the population that have limited access to traditional banking services,” Higala President and CEO Vice Catudio said.

Also Read: Philippine startups raised US$956M in 2023 amidst funding winter

“Through Higala’s open payment platform and suite of solutions, we will enable new market players to aggressively develop and market innovative payment services to both consumers and merchants. This includes integrating solutions such as regulatory technologies like e-KYC and AML-TF monitoring, AI-based risk detection and management, banking microledgers, payment hub that will enable instant fund transfer across participating banks, and a global transaction gateway for remittance,” he added.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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AI4Health Asia Accelerator showcases innovative solutions in healthcare at the culmination event

AI4Health

The AI4Health Asia Accelerator, a 10-month program dedicated to facilitating the responsible development and scaling of AI innovations in healthcare across South and Southeast Asia, concluded its impactful journey with the AI4Health Asia Impact Showcase.

Hosted by Villgro Philippines in partnership with the International Development Research Center (IDRC) of Canada, the showcase marked the culmination of the accelerator program, spotlighting pioneering solutions of eight emerging healthtech startups across the region.

Over the past year, the AI4Health Asia Accelerator has provided vital support to eight startups addressing pressing health issues intensified by the COVID-19 pandemic. Concentrating on key areas that range from sexual, reproductive, and maternal health, to epidemic and pandemic prevention, preparedness, and response, these startups have received a comprehensive package of mentorship, funding, and resources to propel their innovations forward.

Also read: Discover promising early-stage startups across Southeast Asia with A2D Ventures

Priya Thachadi, Co-founder of Villgro Philippines, remarked, “Business models addressing complex issues like sexual and reproductive health or last-mile delivery of affordable healthcare services are challenging to execute. I believe that the resilience, commitment, and passion of the AI4Health Asia cohort inspire confidence and are deploying solutions that can strengthen the healthcare ecosystem in the region. Tech and innovation, especially leveraging advancements in AI, can accelerate these models and lead the way to systemic change in Asian health systems.” 

The AI4Health Asia Impact Showcase included demo day-style presentations, engaging discussions, and networking opportunities with entrepreneurs, investors, and experts in the health sector in Asia. The event, held on March 22, 2024, at the Radisson Suites Bangkok Sukhumvit in Bangkok, Thailand, featured a line of booths where participating startups showcased their solutions and demonstrated their impact on healthcare in the region. The showcase aimed to enhance visibility for the eight startups, catalyse growth, and facilitate connections for potential collaborations.

8 promising healthcare startups showcase their innovations at AI4Health

AI4Health

Nusrat Kabir Prova, CEO of Chondo Wellbeing Limited, making her pitch at the AI4 Health Asia Impact Showcase

At the showcase, Varangtip Satchatippavarn, Founder of Ira Concept, delivered a compelling discourse on femtech within the region, shedding light on the potential for Asian health tech entrepreneurs to lead in this flourishing sector. The event also featured a dynamic panel discussion centred on cultivating a thriving ecosystem for Asian health tech entrepreneurs. The panel featured industry experts including Varangtip Satchatippavarn, Paul Meyers — Founder and Head Coach at Asian Founders Coaching — and Lindsay Davis of Femtech Asia Association.

Also read: Empowering financial resilience with Moomoo Singapore

AI4Health

Dr. App (Nepal), Mobiva (Malaysia), Momby (Vietnam), bubbME.AI (Indonesia), Chondo (Bangladesh), PLans (Indonesia), VIVID (Vietnam), Sex-O-Phone (Thailand)

The AI4Health Asia Impact Showcase marks the beginning of a new chapter for the participating startups as they continue to scale their solutions and create a lasting impact in the healthcare landscape. Villgro Philippines remains committed to supporting innovation and collaboration in healthcare and looks forward to seeing the continued success of the AI4Health Asia accelerator alumni.

Villgro Philippines extends its gratitude towards the following valued ecosystem partners: CSIP, Techsauce, Impact Hub Dhaka, Impact Hub Kathmandu, and ANGIN. Their commitment to fostering innovation and social impact has been integral to the success of the AI4Health Asia Accelerator program and its culmination through the Impact Showcase. 

Please visit the AI4Health Asia Accelerator program page for more information.

About Villgro Philippines

Villgro Philippines is an award-winning gender-smart incubator that funds, mentors, and nurtures innovative startups addressing urgent social and climate issues through market-based models.

Also read: Transforming the creative economy and entertainment industry with TipTip

About the International Development Research Center – Canada

As part of Canada’s foreign affairs and development efforts, the International Development Research Centre (IDRC) champions and funds research and innovation within and alongside developing regions to drive global change. IDRC invests in high-quality research in developing countries, shares knowledge with researchers and policymakers for greater uptake and use, and mobilises global alliances to build a more sustainable and inclusive world.

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This article is produced by the e27 team, sponsored by Villgro Philippines

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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7 API powerhouses: How they are streamlining businesses and powering innovation in the API economy

The tech industry is undergoing a paradigm shift driven by the proliferation of powerful APIs. These application programming interfaces are acting as digital bridges, connecting businesses and customers in innovative ways.

The global API Management market is expected to grow steadily from 2023 to 2030. In 2021, it was valued at US$2176.88 million and is projected to reach US$5695.06 million by 2027, growing at a rate of 17.38 per cent annually.

In the upcoming Echelon X conference, attendees will have the opportunity to explore four key conference themes: Agile Business Practices, Sustainability & Responsibility, Collaborative Ecosystems, and Fostering Creativity, with a special focus on the rise of the API economy and its pivotal role in advancing business objectives.

To prepare ourselves for the event, in this listicle, we familiarise ourselves with seven enterprise technology companies, each offering unique solutions designed to empower businesses, streamline processes, and create a more connected world.

Contentsquare

Founded in 2012 by Jonathan Cherki, Contentsquare offers AI-powered customer experience (CX) analytics solutions. Trusted by over 1,000 brands, their technology analyses data from millions of websites globally. This data provides insights into customer behaviour, aiding businesses in understanding user journeys. Contentsquare prioritises user privacy and inclusivity within its solutions. Businesses can leverage this data to optimise website experiences for efficiency and user-friendliness.

The company has experienced significant growth. Their workforce now exceeds 1,800 employees, and they have secured US$1.4 billion in funding. Since 2019, Contentsquare has expanded its offerings through acquisitions, including Hotjar, Clicktale, and Pricing Assistant. This broader suite of tools caters to a wider range of businesses. Today, Contentsquare positions itself as a resource for businesses seeking to understand and improve customer experiences.

Tableau

Tableau, a leading provider of interactive data visualisation software, empowers individuals and organisations to see and understand their data. This core mission remains unchanged even after its acquisition by Salesforce in 2019.

As an 11-time Leader in the Gartner® Magic Quadrant™, Tableau offers integrated analytics and business intelligence tools for streamlined data governance and management. Tableau empowers business users with real-time data and automated insights, fostering informed decision-making and stronger customer relationships and supporting the entire self-service analytics process, from data preparation to analysis and sharing. Its AI, built on the Einstein Trust Layer, provides personalised insights within workflows, ensuring data security and productivity.

Also Read: 9 HR transformation companies that are helping companies enter the new era

Devrev

Founded in 2020 by Dheeraj Pandey (former CEO of Nutanix) and Manoj Agarwal (former Nutanix executive), DevRev aims to connect developers (‘Makers’) directly with customers (‘Rev’). Their mission is to foster a culture of “product-thinking” across the entire organisation, shifting customer-centricity from a departmental focus to a company-wide philosophy.

DevRev offers OneCRM, a purpose-built CRM platform specifically designed for the SaaS industry. This platform combines three modern CRM applications – support, product, and growth – onto a single, unified platform. Unlike traditional, horizontal CRMs, DevRev prioritises a ‘blank canvas’ approach, allowing for greater flexibility in collaboration tools, artificial intelligence (AI) integration, and analytics. This focus empowers SaaS companies to accelerate product development and minimise customer churn.

Under the guidance of CEO Dheeraj Pandey and President Manoj Agarwal, the company secured over US$85 million in seed funding and was recognised by Forbes in 2024 as one of America’s best startup employers.

Vonage

Founded in 2001 and acquired by Ericsson in 2022, Vonage is dedicated to revolutionising communications for enterprises globally. With innovation as its core, Vonage has evolved from bringing VoIP to households and small businesses to enhancing communications for enterprises.

Offering unified communications, contact centre solutions, and APIs, Vonage seamlessly integrates them into the world’s most adaptable cloud communications platform. Clients have the flexibility to select from ready-to-use applications, leverage an extensive portfolio of APIs, or combine both for customised solutions.

Serving over 100,000 businesses globally, Vonage empowers enterprises to remain at the forefront in an ever-evolving communication landscape.

Also Read: These 7 tech titans are empowering your business with reliable cloud services

8×8

8×8 offers a comprehensive cloud-based communication and collaboration suite tailored for businesses. Thoughtfully integrating voice, video, chat, contact centre functionalities, and enterprise-grade API solutions into a singular, secure cloud platform, 8×8 empowers workforces on a global scale to facilitate faster collaboration and adopt more strategic work practices.

The platform offers both bundled service options and the flexibility of add-ons, allowing organisations to tailor their communication experience according to their specific needs. Furthermore, real-time analytics provide invaluable insights across all communication channels, empowering businesses to elevate customer satisfaction and propel organisational growth.

Perfios

Perfios, a leading Indian fintech company, empowers the BFSI sector (Banking, Financial Services, and Insurance) with real-time financial data analysis. Its Software-as-a-Service (SaaS) solutions leverage AI and machine learning to equip financial institutions with the tools needed for informed decision-making throughout the customer journey.

Perfios offers a comprehensive suite that streamlines key functions like credit decisions through real-time analysis of financial statements and alternative data sources. It also automates customer onboarding, conducts thorough due diligence and ongoing client monitoring, and even provides solutions for automating tasks associated with loan defaults and litigation processes.

Perfios’ unique ability to analyse both structured and unstructured data provides a more holistic view of borrowers, fostering faster loan processing, risk mitigation, and enhanced customer experiences within the BFSI sector.

Twilio

Twilio’s mission aims to inspire innovation by empowering businesses to create dynamic user experiences. Their cloud communications platform seamlessly integrates voice, video, chat, and SMS functionalities, simplifying infrastructure setup for developers. With user-friendly APIs, Twilio enables developers to focus on innovation, enhancing competitiveness in the digital age.

Beyond communication channels, Twilio offers a Customer Engagement Platform (CEP) that unifies customer data for smarter interactions. This includes a leading Customer Data Platform (CDP) and Communication Platform as a Service (CPaaS) solutions supported by robust interoperability and a partner ecosystem.

With real-time data and a developer-centric platform, Twilio empowers millions of builders to create engaging customer journeys, facilitating over 14 trillion customer interactions globally for leading companies.

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