The Asian Development Bank (ADB) has stated that with the existing foundations of the startup ecosystem in general and the technology industry in particular, Vietnam may appear as a new technology unicorn in the future.

The Vietnamese government’s initiatives to advance the growth of fintech

The Vietnamese government has acknowledged that technology firms are the nation’s new source of growth.

The Government of Vietnam’s long-term objective in this sector, according to ADB, is to attract knowledge, businesses, people, and entrepreneurs to engage in economic development and the formation of successful start-ups.

An example of government support is Project 844, intending to develop 600 businesses by 2025, and 100 of them will be able to call for investment capital with a total value of at least VND 2 trillion (about US$85.44 million).

This goal is supported by the National Fund for Technological Innovation and two new projects called “Supporting students and students to start a business by 2025” and “Supporting women to start a business in the period 2017-2025”.

The next generation of Vietnamese startup unicorns will be developed and built, according to Aimee Hampel-Milagrosa, an economist at ADB and one of the report’s primary authors, who claimed that the government has started to put together crucial components, such as financial and policy incentives, to facilitate this process.

Also Read: How Koina uplifts lives of Vietnamese farmers through its data-driven agritech platform

The license for the cryptocurrency and e-commerce segment was developed in 2021. There are many financial and fintech projects being heated, such as creating an Open Banking framework and Data Protection. (Data Protection) and Security Roadmap/Strategy, National Strategy for Financial Inclusion 2022. 

Vietnam supports the position of fintech with hard data

The top five startup industries in Vietnam in years recently are financial technology, or fintech (26.6 per cent), e-commerce (20.3 per cent), educational technology or edutech, medical technology or healthtech, and service software (6.3 per cent).

Health technology and agricultural technology or agritech are two fields with strong social impact and promise to support more fair and sustainable development, according to ADB.

By the end of 2021, Vietnam had added MoMo and Sky Mavis to the list in addition to the two unicorns that had previously appeared, VNG (2014) and VNLIFE (2019). Vietnam comes in third place in the area for the number of technology unicorns, behind Singapore and Indonesia. And set a record investment capital of US$1.4 billion.

And companies that are considered “near” technology unicorns and promising startups that create a unique business model or competitive advantage can go as far as Tiki, Economical Delivery, Trusting Social, Kyber Network Amanotes, KiotViet: Fast Delivery.

Vietnamese talks about fintech companies with the best growth in Vietnam

Currently, over 70 per cent of the fintech companies in Vietnam are startups. In general, 48 per cent of businesses are involved in the payment industry and offer online payment services or digital payment solutions to consumers and merchants, including 2C2P, VTPay, OnePay, VTCPay, BankPlus, VinaPay, VNPay, and Senpay.

First, one of the first financial tech companies to mention is online mobile services Joint Stock Company operating under the MoMo brand. Vietnamese citizens have grown to rely on MOMO as their trustworthy e-wallet aide. MOMO solidifies its position in the Vietnamese fintech market with user-friendly features. 

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

Ms. M, a 30-year-old Hanoi resident, describes how satisfied she is with MOMO wallet, “I appreciate that MOMO accepts payments through IOS or Facebook for foreign service packages since it makes it easier for me to send money fast to others”

No Vietnamese person who is addicted to online shopping on e-commerce sites is unaware of Shopee and the ShopeePay e-wallet. With ShopeePay e-wallet products, users will enjoy countless exclusive promotions from Shopee.

ShopeePay e-wallet has changed its name twice, formerly TopPay, then changed to the new name AirPay. The second name change from June 8, 2021, Airpay has linked with Shopee and changed its name to ShopeePay. 

“It’s fantastic that the online store you use has its own e-wallet integrated. I can use Shopee to pay for orders, get cinema tickets, and top off my e-card addition to paying for orders. phone, many advantages,” 25-year-old Ho Chi Minh City resident Mr. H shared.

Vietnam’s fintech industry aspires to the top spot

Vietnam’s population is large and young, with a high percentage of Smartphone users, reaching 72 per cent, along with the rapidly growing trend of the e-commerce industry. Government support in promoting mobile payments, the percentage of young people that are dominant in a country with a large population like Vietnam will create a huge potential demand for fintech.

The demand for personal finance in Vietnam is expected to continue to grow shortly. Also, according to the SBV’s forecast, by 2025, personal credit will account for about 24 per cent of the technology application market in financial services. This shows that the Vietnamese market has a high potential for development, which can become a very attractive market for fintech products.

The year 2021 has given the global digitalisation process pace thanks to COVID-19’s extensive effects, confirming a strong basis for the global fintech sector’s recovery. This year also saw Vietnam’s fintech market see exceptional growth, as evidenced by the rise in foreign currency investments, the adoption of digital financial services, and favorable government regulations. As a result, with more varied and improved products, Vietnam emerges as a key location for fintech growth.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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Benedict Tan joined Vertex Ventures in 2020 to focus on opportunities in Southeast Asia across the fintech and property tech sectors. Before Vertex, he worked at North Ridge Partners, a boutique investment bank focusing on tech opportunities in Southeast Asia.

Tan graduated from Singapore Management University with a Bachelor’s Degree in Business Administration.

He regularly contributes articles for e27 (you can read his thought leadership articles here).

In this candid interview, he talks about his personal and professional life.

How would you explain what you do to a five-year-old?

We team with smart people to help them “grow” new and exciting ideas to solve some of the region’s most significant problems, ranging from mobility to gaining unprecedented access to business capital. Think of it like planting a seed and giving it the water, sunshine and love it needs to grow into a big, beautiful plant!

What has been the biggest highlight/challenge of your career so far?

People may think that, like stock investing, venture investing is simply just injecting capital into a company and hoping it will multiply. However, that is not the case at Vertex Ventures Southeast Asia & India, where we take an active, hands-on approach to grow the company alongside the founders.

Also Read: Continue to push boundaries and create value: Jolene Lum of Nurasa

My biggest challenge was coming in as a greenhorn to the industry with which my portfolio founder is associated, as I knew no one and needed to figure out where to start. Thanks to my colleagues and network’s help, I overcame it and found my way around.

I enjoy helping founders with a wealth of experience in each industry find the missing piece of the puzzle, whether searching for a new C-suite member or introducing them to new investors.

How do you envision the next five years of your career?

I often think deeply about this question. I have always had a voracious appetite for learning about entrepreneurship, new business models, paradigms, and the major industries of the future.

Naturally, staying in the startup scene is a no-brainer for me! While I’m nowhere near the end of my VC learning curve, I would love to venture into starting up my own business in the future.

What are some of your favourite work tools?

Medium, market intelligence sites, and news aggregators are great for keeping a pulse on the latest developments in today’s fast-paced market.

I am late to the party, but I recently fell in love with Notion for note-taking. Its collaborative features are convenient when working with colleagues across four countries!

As part of my VC role, I have been introduced to some exciting new tools. Has anyone been just as obsessed over ChatGPT as me?

What’s something about you or your job that would surprise us?

Only a few people know this, but my home is like a mini-zoo. Growing up, my family used to keep parrots, lovebirds, arowanas, chickens, terrapins, frogs, rabbits, hamsters, chinchilla dogs, and more. I still find it strange when I step into my friends’ homes and do not see any pets roaming around!

Do you prefer WFH or WFO, or hybrid?

After experiencing all three stages in the past two years, hybrid arrangements work best for me. The nature of VC work requires me to be on the go constantly, be it meeting up with founders or collaborating with my teammates in person.

Also Read: Be hungrier and bolder to explore a variety of industries: Sharina Khan of Thoughtworks

But downtime is also essential, enabling me to strike a good balance and catch some quiet time to think more deeply and reflect on making the best decisions possible.

What would you tell your younger self?

You are ready as you’ll ever be. Be bold to try new things, take risks and trust yourself. (And, probably, don’t study too hard!)

Can you describe yourself in three words?

Pragmatic, outgoing, open-minded

What are you most likely to be doing if not working?

I enjoy the process of cooking and would probably be whipping up a mean steak! Lately, I’ve started collecting coffee beans in my travels around the region and have been experimenting with various brewing methods to perfect the extraction process.

What are you currently reading/listening to/ watching?

I am halfway through reading The unintended consequences of technology solutions breakthroughs and the restart we need by Chris Ategeka. The book talks about how technology has altered our world in both positive and negative ways.

As for podcasts, I am a huge fan of business podcasts such as The Memo by Howard Mark, 20VC, and if you have yet to listen, Hard truths by Vertex!

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Join the e27 contributor community of thought leaders and share your opinion by submitting an article, video, podcast, or infographic.

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Edutech startup Strive recently raised US$1.3 million in seed funding round from from notable investors such as Goodwater Capital, an early investors in Facebook and Spotify; and angels such as the president of MasterCard Asia and the Founder of Sequoia India.

Started out in Singapore, Strive is an online coding school for kids ages 8-16. It aims to ignite kids’ passion for coding and pave the way for a career in technology. In live 1-on-1 online classes, students work with a passionate teacher to code games and apps in Python.

Coding has become a key skill for businesses across all industries, but Strive sees that there have not been enough resources available for teaching children how to code. Its apps offer a unique approach to teaching kids to code.

“We wanted Strive to be everything the other coding platforms aren’t. We started with a student-centric approach that focuses on active learning. This process involves students engaging with the curriculum through problem-solving, discussion, and applying their skills to visual-coding projects. This was simply because it’s not just what you learn; it’s how you learn. Most coding schools focus on instructing kids to build specific projects they can show their parents and friends, but that approach doesn’t lead to mastery of coding. Kids learn rotely and only develop skills that can be applied in the classroom,” Strive CTO Tamir Shklaz explains in a statement.

Also Read: Southeast Asia is in plastic waste crisis, and these 16 sustainable startups strive to turn things around

He also explains how Strive chooses the teachers for their platform.

“They obviously needed to be coding experts to be credible educators. Still, we know that the most ‘qualified’ educators and not necessarily the most effective. Even for kids who like the idea of coding, it can still be daunting. We wanted to ensure that our teachers had exceptional EQ and understood how to engage with a kid on an emotional level too. It was important that our students loved our teachers because we believed it would be a crucial way to get them to commit to their coding education.”

The company will use the money to:

– Develop a coding editor (IDE) specialised for empowering teachers to teach and students to learn to code.

– Create engaging coding content for kids of different ages, levels, and interests.

– Explore novel ways of assessing kids’ mastery of coding, not just their ability to pass a test.

– Develop its teacher training.

“However, most importantly, our latest funding round gives us the resources to continue our mission. To make education for kids joyful and meaningful.” says Shklaz.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

Image Credit: Strive

The post Strive raises US$1.3M to transform the way kids learn to code appeared first on e27.

As businesses grapple with increased automation, entrepreneurs need to step up their game in order to engage with their customers in personalised ways. With an unpredictable market and ever-changing purchasing behaviour, it is critical for businesses to gain renewed insights about their customers. This enables businesses to adjust and adapt their products and services to meet market demands and retain customer loyalty. 

Aptly named “Retention Playbook Vietnam: Mapping Personalised Customer Journeys”, the upcoming Big Leap Roadshow is focused on sharing the best practices by regional growth leaders on how to retain and grow their customer base. 

The event is taking place on 22nd February 2023 in Ho Chi Minh City, Vietnam, following the spectacular successes of the Big Leap Roadshow in Singapore, Indonesia, and Malaysia. The Big Leap Roadshow is a collaborative project between e27 and CleverTap, a SaaS-based customer lifecycle management and mobile marketing company headquartered in Mountain View, California.

CleverTap is leading the charge for personalised customer journey

As the world’s number 1 Retention Cloud trusted by 2000 customers, CleverTap is leading the charge to help businesses improve their approach to customer retention. In their years of experience, CleverTap believes that understanding the role of personalised customer journeys is an essential aspect for businesses to remain competitive, and one of the best ways to achieve this is by mapping the customer journey.

Customer journey mapping allows companies to gain insight into their customer’s needs and preferences, enabling them to create tailored experiences at different touch points along the journey. Moreover, it helps businesses better understand how their products or services are being used by customers so that they can optimise their product development and marketing efforts. 

Also read: Explore the global market with JETRO x Techstars Startup City Acceleration Program

Creating a customer journey map involves gathering data from multiple sources including surveys, interviews with customers and industry experts, as well as analysing existing analytics tools such as website traffic metrics or social media engagement. The data is then used to identify key touchpoints along the customer’s decision-making process from the initial stage of need recognition until the completion of their purchasing process.

With our increasingly digital shopping experience (from seeing ads on social media to online shopping) companies have better access to customer behaviour data that they can synthesise into valuable insights. These insights are invaluable to developing strategies that will drive conversions at each step, and to perfect the user experience through all stages of the cycle. 

Strategies to approach personalised customer journey mapping

In order to create valuable optimised customer journeys, entrepreneurs must explore and experiment with different business strategies. For starters, businesses must exercise a high level of orchestration across their business functions combined with critical data analytics and creative problem-solving skills. These things can be achieved through comprehensive market research to assess broad customer insights and industry trends across multiple channels. This will ensure higher success rates for businesses, enhance customer engagement, boost sales figures, and encourage them to return and seek out the same products and services.

Also read: UNL: Driving business success with new-generation micro-location mapping

In a nutshell, an ideal customer journey mapping should provide information about customers’ needs, potential pain points and motivators, experience at each touchpoint, customer feedback, and possible improvements and solutions.

Customer journey mapping success stories in the world and in Vietnam

There are a slew of benefits that come with personalised customer journeys, enabling businesses to create more meaningful connections with their target audience and offer greater customer values than generic experiences. As such, leading global companies have been quick to embrace the practices.

For example, Amazon Prime’s one-click shopping option has revolutionised how people shop online due to its convenience and thorough understanding of the customer’s shopping habits, preferences, and desires. Another example is Grab’s loyalty program which proposes discounts on rides based on user behaviour patterns over time, optimising customers’ lifetime values and bolstering customer delight.

In Vietnam, VNTrip, whose leader is one of the keynote speakers at the forthcoming Retention Playbook Vietnam panel discussion, also boasts of using personalised customer journey mapping and offering a unique customer experience that allows the company to thrive. Specifically, by understanding the different stages customers go through when interacting with their brand, VNTrip tailors their products and services based on individual needs, making them feel valued and understood, and improving business efficiency by removing unnecessary touchpoints.

Also read: Data streaming in real-time made possible with Aiven’s Apache KafkaⓇ

With much hype towards personalised customer journey and its lucrative applications in real businesses, CleverTap’s Big Leap Roadshow in Ho Chi Minh City is poised to provide businesses with beneficial resources for building valuable, long-term relationships with your customers in today’s competitive market as growth leaders open up and share their best practices on creating personalised customer journeys. 

Learn from industry experts across various sectors about how they have created magnetic experiences to grow customer retention, increase lifetime value, and go from good to great.

To sign up for the event, click here.

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This article is produced by the e27 team, sponsored by CleverTap

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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Singapore-based H3 Dynamics is no longer a simple startup; it has grown to become a “mini-conglomerate” with four emerging standalone businesses, each run by independent leadership.

Since winning Echelon 2019, the aerial mobility company has raised significant investments, expanded into multiple geographies, and partnered with many MNCs. It also has contributed to tackling climate change by developing energy loss identification solutions in high-rise buildings, replacing diesel generators used on boom lift equipment with scanner drones, and developing zero-emission hydrogen propulsion solutions/hydrogen power generators.

H3 Dynamics has grant plans to take the company to the next level. We spoke with its Founder and Group CEO, Taras Wankewycz, to learn about these plans.

Excerpts:

You raised US$26M in a Series B investment round in November 2021. How have you grown since this round? Did you add any new clients/products to your portfolio?

In November 2021, we completed the rolling-close financing round of US$26 million [from investors, including Japan’s SPARX Mirai Creation Fund (lead), EDBI, Capital Management Group, and French strategic investors ATEQ] that began in 2018. So, we have been investing capital gradually and much earlier and growing step by step.

Our software team in Singapore has tripled in size, and our AI-enabled building maintenance digitisation tool was launched in 2019, growing revenue 100 per cent every year since then.

Also Read: H3 Dynamics closes US$26M Series B to introduce long-range hydrogen-air logistics solutions

H3 Dynamics has acquired over 50 regional and global scale clients in the real estate sector, becoming a market leader in Asia with over 4,000 high-rise buildings already processed.

We also built a dedicated robotics tech team. In 2022, it launched a charging station for remote drone operations, with our first shipments completed to Europe, the US, and Australia.

Besides, we also globalised our operations with our aerial power system R&D in the US and Europe.

What started as company business units are now becoming companies with their own leadership teams, clients, and product lines, developing independently under one Singapore holding structure.

All in all, H3 Dynamics is currently looking like a mini-conglomerate.

Please tell us more about the four different business units.

Our Singapore-based real estate maintenance management software business, H3 Zoom, targets facilities management companies, repair contractors, civil engineering firms, inspection firms, building owners, developers and insurance companies.

We also have a robotics company in the city-state that works on drone automation stations addressing energy utilities, solar farms, mining, oil and gas, agriculture and critical site security.

Our US-based small hydrogen power and refuelling systems company targets unmanned aircraft manufacturers in the civilian and defence sectors.

At the same time, our France-based larger-scale hydrogen propulsion and infrastructure company addresses aircraft OEMs, airports, and MRO companies.

You are into a capital-intensive business. Do you plan to raise Series B-plus/pre-Series C round soon? Is it challenging to raise capital for a growth-stage company like H3 Dynamics?

It has been challenging. We are in a deeptech B2B sector bringing solutions that apply pioneering technologies. In the past few years, we had to compete for capital with fast-growing coffee shop chains, online clothing retail ventures, and crypto ventures.

Unfortunately, investors in our region tend to stay away from growth-stage high-tech engineering and science-based companies, which present different revenue timelines and growth profiles. Such companies need patient investors that value hard innovation. So we have focused our fundraising abroad (in Japan, Europe, and the US) with no choice but to expand out of Singapore.

We are now closing a Series B extension round at the holding/group level and preparing to start raising capital at our subsidiary-level companies in the coming weeks.

You partnered with Thales for a real-time autonomous drone flight monitoring system in January 2021. How has this partnership played out? Do you expect to announce more such big partnerships moving forward?

We are working closely with Thales in Europe right now. We use a former military airfield near Paris they manage for our flight tests.

The goal is to keep progressing the airspace integration topic using cybersecurity solutions that can be trusted by civil aviation authorities globally, where Thales has been leading the market for decades already.

This being said, we have partnered with many other companies across different industries and geographies. Unfortunately, we cannot reveal all of them due to confidentiality agreements.

Also Read: FROGS wants to become the first startup in SEA to fly passenger drones

In recent months, we announced technology partnerships in the liquid hydrogen space (primarily in the waste-to-hydrogen space).

In the robotics domain, we partnered mostly with resellers abroad, and we are just about to reveal a cornerstone partnership in the software space.

Are there any new products in the development stage?

We are developing new products, focusing on sustainability and reducing carbon emissions.

Buildings generate slightly more CO2 émissions than all the transport/mobility combined. So we now have applied our AI and thermal imaging technologies to find energy losses in buildings, especially those that use air conditioning.

On the hardware side, we scaled up our capability from powering drones to powering planes. We just confirmed government funding in France to develop the first hydrogen propulsor nacelle system.

H3 Dynamics is also in the process of developing new zero-emission alternatives to diesel or kerosene power generators.

How has the company been growing in the downturn? What has been the impact of the current recession on your business?

Luckily, our product lines target productivity improvements, energy savings in sectors looking to reduce operating costs, and sustainability solutions that are top of mind for our clients.

Aviation is a booming industry post-COVID-19, and thus we see a lot of demand in our target markets. The only challenge is financing for growth, so we must be cautious. We are still heavily reliant on external capital to continue our development.

Do you plan to take your products to more geographies?

H3 Dynamics has been developing the Japanese market for the past two years and hope to open local operations there now that local clients and resellers are activated. We have a growing base of Japanese investors, and Japan is one of our key target markets in the APAC region. Some big announcements are planned in March on this topic.

Otherwise, we have grown our European and US client base; we expect to ramp up in Australia in the coming 18 months.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post H3 Dynamics decarbonises global aviation industry with multiple aerial mobility products appeared first on e27.

As someone who has built a business with big influence on my own cultural roots as an Australian-born Chinese entrepreneur, I can tell you firsthand that embracing heritage is one of the most effective ways to set your company apart from the competition.

You might be thinking, “What does culture have to do with business?” or “I don’t want to alienate potential customers by focusing too much on my background.” But I’m here to tell you that these concerns are misguided. In fact, I believe that cultural differentiation is one of the keys to long-term success in the business world.

Define your culture from day one

So, why is culture so important? For one thing, it’s what makes your company unique. No matter what industry you’re in, there are likely to be dozens (if not hundreds) of other businesses that are offering similar products or services. But by infusing your company with the values and traditions of your cultural heritage, you create a brand identity that is truly one-of-a-kind.

Momoguro, an upcoming Web3 project by 9x Emmy-winner Baobab Studios, was founded by Maureen Fan, Nico Casavecchia and Martín Allais, coming from Asian, Argentinian and Venezuelan backgrounds, respectively.

And they have used their diverse cultural roots to create designs that are truly unique in their captivating blend of colors, flavors and dialects. Their work often incorporates traditional patterns and designs from their home countries, but they also use modern technology and cutting-edge design techniques to create work that is ahead of the curve.

The team has brought onboard an experienced group of Web3 and game developers, including game designers who have worked on some of the biggest titles in the industry, such as Marvel, Disney, and Pokémon.

Also Read: The role of niche communities in driving startup success

This diverse and talented group brings a range of experiences and perspectives that are being leveraged to create an innovative and exciting digital collectible storytelling RPG. With a team that brings together expertise from different industries and games, Momoguro is setting itself up for success, creating a culture that is driven by excellence, innovation, and sustainability.

Achieve competitive differentiation

If you’re a restaurant owner, there are likely dozens of other restaurants in your city that serve the same type of cuisine as you do. So how do you stand out from the crowd?

By emphasising the unique flavors and cooking techniques that are specific to your culture. This not only sets you apart from your competitors but it also creates a sense of authenticity and depth that customers will be drawn to.

START Inc. was founded by native-Japanese, Philippines-based entrepreneur KOUSEI. He’s used his knowledge of these cultures and languages to create a platform that is accessible to a wider range of people.

By offering multilingual support and creating a user experience that is tailored to the needs of non-native English speakers, START Inc has been able to reach a market that is often overlooked by other NFT platforms.

And it’s not just me saying this: START Inc. has already gained over 20,000 loyal followers in the NFT space across the Chinese, Japanese and Filipino community.

The project has already partnered with several high-profile artists and has recently launched their 2nd collection, CryptoNinja World, which sold out in less than 6 hours. The founding team has leveraged their diverse cultural roots to create a platform that is truly inclusive, and that has the potential to carve out a defensible piece of the wider ecosystem.

Align your values internally and externally

But cultural differentiation isn’t just about marketing. It’s also about creating a company culture that reflects your values and beliefs. As a leader, you have the opportunity to shape the way that your employees work together and interact with customers. By prioritising the values that are important to your cultural background (such as respect, hospitality, or hard work), you can create a workplace that is both productive and fulfilling.

Also Read: How great leaders embrace uncertainty and ambiguity

Supernormal Zipcy is a digital art project that is focused on creating beautiful and immersive artwork that reflects the values and beliefs of its creators. And what’s really impressive is that this project has been able to create a strong culture that is centered around these values. The founder Andrew Choi, and the wider team is committed to excellence, innovation, and collaboration, and this has allowed them to create artwork that is truly unique.

The numbers speak for themselves. Supernormal Zipcy has already sold over 10,000 NFTs, and it has generated more than US$40 million in sales. And the project has gained recognition from some of the top players in the industry, including Forbes, which named Supernormal Zipcy as one of the “Top 10 NFT Artists to Watch” in 2021. These creators have leveraged their cultural background to create a project that is a market differentiator and is already gaining recognition beyond Web3 into the beauty and luxury industry.

Creating loyalty with less

And let’s not forget about the financial benefits of cultural differentiation. By focusing on a specific niche that is related to your cultural heritage, you can tap into a market that might otherwise be overlooked.

For example, Uniqlo’s success can be attributed to its ability to leverage its roots in creating clothing that is functional, timeless, and versatile. By combining Japanese aesthetics with modern technology and innovation, they’ve built a loyal following around the world.

Of course, embracing your cultural roots isn’t always easy. It can be difficult to balance your heritage with the demands of the business world. Believe that this is a challenge that is worth taking on. By being true to yourself and your cultural background, entrepreneurs will be able to build a business that is not only successful, but also meaningful and fulfilling.

–

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

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Silicon Valley-based VC firm 500 Global has announced the appointments of Saemin Ahn, Shahril Ibrahim, and Martin Cu as Partners in Southeast Asia.

The trio will lead 500 Global’s growth initiatives across the region, supporting and nurturing startups at every stage of their growth.

Also Read: StoreHub secures US$13.5M pre-Series B in a 500 Global-led round

Over the past decade, 500 Global has backed over 340 companies across Southeast Asia. Its portfolio companies include Grab, Bukalapak, Carsome, Carousell, FinAccel, and eFishery.

Ahn has a decade of experience in growth investing. He was the Founding Managing Partner at Rakuten Ventures, leading investments in over 25 technology companies, including GoTo Group, Carousell, Epic, and Coda Payments. He previously held management roles at Google in Korea and Singapore.

Ibrahim was Director of Investments and Head of Khazanah Americas, a sovereign wealth fund of Malaysia. He established Khazanah Nasional’s presence in the US, deploying investments in enterprise technology and deep technology, focusing on AI, ML, and robotics. He was also a board member at global fusion energy company General Fusion and on the advisory committee of growth equity VC firm March Capital.

Cu was previously the Philippines Country Head of Ninja Van. He grew the Ninja Van team in the Philippines from 0 to over 5,000 employees and built a nationwide network serving 97 per cent of the country.

“Saemin, Shahril and Martin add significant investment and operational expertise to support the growth ambitions of our entrepreneurs across Southeast Asia,” said Vishal Harnal, Managing Partner at 500 Global. “We will continue to add top talent and winning skill sets to our team in this strategically important region and build on our track record of success.”

500 Global is a venture capital firm with US$2.7 billion in assets under management. It focuses on markets where technology, innovation, and capital can unlock long-term value and drive economic growth.

Also Read: Singapore neobank IN Financial Technology acquires 500 Global-backed MyCash

The VC firm has backed over 5,000 founders representing over 2,700 companies operating in 81 countries. It has invested in 49 companies valued at over US$1 billion and 150+ companies valued at over US$100 million (including private, public, and exited companies).

Its 180+ team members are located in 27 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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With so many cloud communication platforms on the market, it can be daunting to know which is the right one for you. Fortunately, I came up with this buying guide that will help you understand the key features and functionalities of a platform, so you can make an informed decision.

Before I get into that, let us take a minute to define what a cloud communication platform is and why it is essential for your business.

What is a cloud communications platform?

A cloud communications platform is an integrated suite of software that makes it easy and efficient for businesses to communicate via:

• Voice and video calls
• Instant messaging/chat rooms
• Document sharing
• Conference calling
• Collaboration
• Other business-essential functions

It provides a cost-effective solution by allowing businesses to pay only for the computing or storage power they require rather than for more than needed.

More importantly, it is a phone system that uses voice-over-internet-protocol (VoIP) technology to make and receive calls over the internet. It allows users to communicate without the need for physical phones or other hardware, making it an ideal solution for businesses, especially those with a distributed workforce.

By using cloud technology, the software-as-a-service (SaaS) solution is a secure and reliable way for businesses to communicate with their customers, partners, and employees.

What it means for your company

In recent times, the growth of e-commerce, the shift to remote and hybrid work, automation, and the usage of artificial intelligence (AI) have surged globally.

Digital transformation is profoundly changing the way businesses operate. Companies of all sizes, from small to large, are now adopting digital tools to improve employee workflow and efficiency. As technology advances, employers and employees are beginning to realise the importance of making some work easier with technology and streamlining processes through digital technologies and platforms.

Also Read: Why venture capital is going big with cloud mining

Hybrid flexibility is an increasingly popular concept, particularly in the realm of cloud communications. By combining the convenience of a cloud-based platform with the advantages of traditional systems, it is easy to see why this type of flexibility has become so desirable.

Which is right for you?

When you shift your business model to cloud-based communication tools, you must carefully select a communication stack that best suits your needs.

Cloud computing allows users to access communication services without needing to install and maintain hardware or software. It provides enhanced flexibility and scalability, making it an ideal solution for companies that need reliable and efficient communication solutions.

It can be tricky to make sense of popular cloud communication models with acronyms such as CPaaS and UCaaS.

Let me explain the differences between these two types of cloud communication stacks and how they can benefit your business.

CPaaS, or Communications Platform as a Service, is a cloud-based platform allowing companies to seamlessly incorporate communication features into their existing applications.

By utilising modules and APIs, CPaaS enables developers to create custom solutions that expand and evolve the capabilities of an application in real-time without having to create new back-end infrastructure.

Main communication channels:

• VoIP calling
• Text messaging
• Conference calls
• Social media messaging

UCaaS, or Unified Communications as a Service, is an all-encompassing collaboration tool that allows teams to communicate with one another and their customers quickly, regardless of location.

It gives users access to team messaging, video conferencing, and cloud phone features within a single cloud-based platform, eliminating the need for additional infrastructure investments or complex setup processes. All that is necessary is internet access.

Main communication channels:

• VoIP calling
• Text messaging
• Video conferencing
• Team chat messaging
• Social media messaging
• Email

Key features to look out for in a cloud communication platform

If your organisation is looking for a new way to communicate, it is substantial to consider the choices available. UCaaS and CPaaS are both options that can be tailored to specific business needs.

UCaaS provides businesses with an overhauled communications solution without having to build their integrations, while CPaaS will allow companies to keep their existing workflow but integrate proprietary features. Those with security or scalability needs should favor CPaaS, if not, today’s UCaaS solutions offer a great deal of customisation.

Let us explore some of the features of a UCaaS platform:

Scalability potential and connect services

Unified communications (UC) is a way for enterprises to manage their remote communication needs. By deploying a UC platform, organisations can connect internal and external teams with access to popular messaging channels like SMS, email, Messenger, Line, and WhatsApp.

Also Read: How can businesses improve their operating margin by controlling cloud costs

Furthermore, UCs can switch between PSTN and VoIP networks as well as from voice calls to chats quickly and easily, allowing staff members to use voice, chat, video, and conferencing capabilities in one unified system.

Security and compliance features

Customers and businesses need to feel confident that their data is secure when stored and shared within a cloud communication platform. Be sure the platform you select offers security features such as encryption, data backup and recovery, and data protection systems.

Also, for those in industries with strict regulatory compliance requirements, a solution that can meet global compliance standards, including GDPR, is vital.

Customer support

Customer support solutions are essential for efficient customer service. Cast around a platform that includes reporting and analytics tools, allowing you to get an overview of your team’s performance.

You should also look for features such as live chat, virtual call centers, voice mail, caller ID, and automated responses. These features will help you increase customer satisfaction, reduce wait times and improve communication between your team and customers.

Advanced call center features

Many cloud communication platforms come with advanced call center features such as call routing, click-to-call capabilities, VoIP integration, detailed analytics reporting, and more.

Explore a platform with just the right amount of features to suit your specific business needs. These features should help easily manage and monitor customer service calls, track volume in real-time, and store all necessary customer data securely.

Ease of use and cost-efficient

A platform that is efficient, cost-effective, and user-friendly can help your team get the job done faster with no downtime. You can use multiple tools in one place, making it easier to manage and save costs by not constantly switching applications.

Setting it up is hassle-free as it doesn’t require an IT team or complex coding – you could be up and running in minutes.

Choose the best cloud communication platform for your business

Deciding the best mobile cloud communication platform for your business should involve more than just list-checking the features you need.

Also Read: How to migrate your small business to the cloud

You should also consider the three following factors to select the most suitable platform for your company.

Carrier-grade performance and reliability

Carrier-grade reliability is a measure of:

• Dependability
• Performance
• Redundancy
• Availability of telecommunications networks or infrastructure

It is used for applications or networks which require high levels of uptime and security. To ensure the network remains available, carrier-grade components are necessary.

These include PSTN, VoIP, Ethernet networks, as well as carrier-grade hardware. With carrier-grade reliability, you can be sure that your communication systems will perform at an optimal level with minimal disruptions.

Seek out services that assure an annual uptime of 99.95%, with real-time service delivery, monitoring, and support 24 hours a day, 365 days a year.

Combines digital and telecom channels

To maximise business transformation, cloud communication platforms should prioritise customer engagement through their chosen channels. That doesn’t have to just be digital — research shows consumers still appreciate being contacted via telephone or receiving SMS offers.

Therefore, the ideal cloud communications platform should not just connect traditional telephony and digital channels but also effectively transition between them — for example, from an offline conversation to an online chat or call.

Support a team member anytime

In situations when a single staff member is unable to adequately handle a customer enquiry, they have the option of adding in expert help. This could be their boss, a colleague, or someone else who is more knowledgeable about the matter.

Additionally, this individual can take over the conversation if needed. Jumping on calls is an excellent way for customers to get the best service possible. Doing so also allows for a better quality of service and resolution of customer queries.

So, explore platform features that include the capability for users to join an ongoing interaction or take over a chat, voice call, or video call.

Cloud communication – The path forward

Digitisation is ushering in a new era of remote and hybrid work, leading to the emergence of an innovative cloud culture. With digital solutions becoming steadily popular, companies are now able to conduct their operations from anywhere and at any time. This has opened up the possibility for workers to move away from traditional office structures and embrace a more fluid cloud culture with unlimited potential.

Cloud communication is an essential tool for organisations to stay connected with their employees, customers, and investors in this ever-evolving business landscape. It enables them to build intuitive relationships without worrying about physical proximity, technology, or any other factors. With the help of cloud communication, businesses can stay connected no matter where they are.

A cloud communication platform is a service that allows businesses to facilitate cross-team collaboration and customer engagement. By having the right cloud solution, businesses can take advantage of increased efficiency and improved customer satisfaction.

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Solo-GP VC funds are gaining traction across the US, and Southeast Asia will also see the emergence of such funds, according to Wing Vasiksiri, Founder of WV Fund II, solo-GP VC firm focusing on the region.

A Solo-GP VC fund is a fund with one General Partner who is also the lone member of the investment committee.

“This model is new to Southeast Asia but has taken off in the US; for example, Elad Gil, Lachy Groom, and Josh Buckley,” Vasiksiri, who earlier founded iSeed SEA, said in an interview with e27. “Like in India, we will start to see more of this [Solo-GP fund] emerge in the region.”

Funds like Kettleborough VC, Better Capital, and Streamlined Ventures emerged in India recently. As per another report, a new wave of solo GP VCs is also coming to Europe.

Also Read: iSeed SEA launches micro-fund targeting Indonesia, Vietnam, Thailand

According to Vasiksiri, the new model has certain advantages, including empathy for founders, speed and transparency, and elimination of the principal-agent problem.

“I am also a founder, although I started a fund instead of a company. I have to think through the same things every founder does: what is my competitive advantage, and how do I hire, scale, market, and brand my company? This gives me high empathy for the entrepreneurial journey,” he said.

Moreover, there is only one decision-maker, meaning the sole General Partner can drastically reduce time in the decision-making process. The solo partner can commit to a round within days or hours if needed and can make decisions quickly, which is greatly appreciated by founders. Every founder also has a direct relationship with the General Partner.

“Eliminating the principal agent is one of the biggest problems in any institution where employers and employees don’t always have aligned incentives. For solo GPs, the brand of the fund equals the brand of the individual, and everything I do reflects on the fund and vice versa,” he added.

However, the model also has some disadvantages, one being it can be challenging to scale as you have more relationships and have to manage time well.

To a question about the difference between an angel investor and a solo-GP fund, he said that an angel investor institutionalises his/her investing and raises outside capital. Most of the time, he/she is not a full-time investor but has another job. “An angel fund can be a solo GP fund if there is only one GP and decision maker.”

Also Read: “To heavily rely on AI for your decision making process in venture investment would be a stretch”

Launched recently, WV Fund II is a seed-stage, sector-agnostic fund investing in founders across Southeast Asia. His first fund, iSeed SEA, was also a solo GP fund, and it is fully deployed.

WV Fund II and iSeed SE have US$14 million in assets under management. The former has invested in ten companies, including mio and Delos Aqua, Upmesh, Haulio, Pina, Mohjo, and Farmacare.

The fund will continue investing across the region by partnering with top founders in my core markets (Singapore, Indonesia, and Vietnam) and secondary markets (Thailand, Philippines, and Malaysia).

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The post We’ll start to see more solo-GP VCs emerge in SEA: Wing Vasiksiri of WV Fund II appeared first on e27.

What makes the soonicorns special?

As reported by Channel News Asia, despite challenges here and there, leading tech companies in Indonesia and the rest of the Southeast Asian (SEA) region continued to raise funding, with more companies inching closer towards securing a unicorn status –proudly claiming the label ‘soonicorn‘.

As these companies closing in to the much-coveted unicorn status, we realise that there might be more that is at stake. Starting with the investments that have been trusted in them, we can see how these companies face pressure to build a sustainable business and provide a healthy return to their investors. The public–users and customers of these companies’ products and services–also have a heightened expectations of them to deliver their promises.

But this does not mean all is gloom and doom for soonicorns. There are plenty of opportunities that they can seize. For example, the experiences of previous generation unicorns provide unique lessons for soonicorns; the ability to learn without having to go through the hardest parts.

Soonicorns have the opportunity to do it differently. As an ecosystem, we can help them get there.

Also Read: e27’s TOP100 programme returns to bring Asia’s best startups to Echelon 2023

This year, Echelon Asia Summit will be back on June 14-15 at Singapore EXPO to build towards a sustainable and impactful tech ecosystem.

The event will feature six key themes and tracks:

• Soonicorns and the Future Change-makers of SEA
• Future Sectors and Investment Trends
• Growth and Scaling
• Investments and M&A
• Sustainable Growth and Climate
• Web3

We are looking forward to featuring notable soonicorns of SEA to share their stories with the hope that it can be a lesson for fellow soonicorns and those who are looking forward to follow their footsteps. We will look at lessons in growing and scaling their businesses, mergers and acquisitions, and even the use of emerging technologies such as blockchain.

We are also looking forward to hear from different parties in the SEA startup ecosystem that have played a role in the building of a soonicorn, from venture capital firms who have invested in them to corporates who have partnered with them. We believe that every voice is valuable as we are building a SEA tech startup ecosystem that is more sustainable and impactful.

If you are the right person to speak about this key theme and track, or know someone who does, we would like to hear from you. Register HERE and we will get in touch soon.

See you in June.

 

The post Wanted: SEA soonicorns, future change-makers to share their stories at Echelon Asia Summit 2023 appeared first on e27.