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The-Wolfpack debuts with US$5M fund targeting D2C startups in SEA

The-Wolfpack

The-Wolfpack leadership team

The-Wolfpack, an early-stage startup fund in the direct-to-consumer (D2C) sector, has announced its launch in Singapore.

Christened ‘The Wolfpack Pioneer VCC’, the US$5 million debut fund is focused on helping early-stage startups in APAC to reach customers through smarter media and experience-first strategies.

The fund, which is fully subscribed, aims to be the venture partner of choice for startups in the consumer goods, leisure and media sectors — who require strategic capital to drive growth in nuanced markets across Southeast Asia and Australia.

Also Read: Why Kay Mok Ku of Gobi Partners thinks VCs will become like influencers in a post-pandemic world

It will work closely with founders to scale strategically with impact by leveraging on its industry network with key C-suite decision-makers in the region.

As per a press note, the team is in a stage of deployment with an eye on eight to ten companies.

The-Wolfpack claims investments are made with portfolio synergy in mind to give companies opportunities to collaborate and cross-sell with others. Portfolio companies will also be invited to a quarterly session where they will have the opportunity for knowledge-sharing and gain insights from corporate partners and industry leaders. 

In parallel, the VC firm is looking to raise a second fund targeted at more than S$20 million (US$14.90 million).

Furthermore, the team is eyeing an expansion into Thailand and has been identifying opportunities to bring their portfolio into the market and invest in early-stage companies there. 

“Most VCs will tell you to focus on one thing and do that really well but we’ve built enough major consumer brands to know that’s not enough to succeed in complex markets across APAC,” said Toh Jin Wei, Co-founder and Managing Partner of The-Wolfpack. 

“Products and services need to deliver experiences, inspire community advocates and create media ecosystems. That’s why we’ve launched The-Wolfpack — to help startup founders close this critical gap,” he added.

Also Read: D2C: Is it time for the next phase of ecommerce in SEA?

“We’re in this for the long-haul with our founders and plan to grow The-Wolfpack to support their journey. Our portfolio companies will know that our Rolodex will never be closed to them,” said Simon Nichols, Co-founder and Managing Partner of The-Wolfpack.

“Tackling this region is no easy feat for D2C companies, which is why The-Wolfpack has so much value to bring. You need a 360 approach to win over individual markets here — this means having a sound rollout strategy that captures local nuances and access to the right media, events, digital and place-making partners is critical,” said Vit Suthithavil (Song), Managing Director of Panther Entertainment and The-Wolfpack’s Strategic Thailand Advisor.

“The-Wolfpack is the missing piece D2C startups need. Having worked closely with Jin Wei and Simon over the years, I’ve seen firsthand how their sharp on-the-ground insights and local connections with decision-makers can pivot companies to new heights,” said Glenn Sugita, Co-founder and Managing Partner of Northstar Advisors and Mentor to The-Wolfpack.

Image Credit: The-Wolfpack

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Kata.ai raises Series B to improve interaction between humans and computers; unveils social commerce platform for SMEs

Kata.ai, a conversational Artificial Intelligence and Natural Language Processing (NLP) startup, has secured an undisclosed amount in Series B funding, led by Taiwan-based Trans-Pacific Technology Fund (TPTF) and MDI Ventures.

Alongside this, Kata has also unveiled its new product QIOS, a social commerce platform that allows small and medium enterprises (SMEs) to use and integrate AI technology in their sales process through chat-based applications such as WhatsApp, Instagram and Facebook Messenger.

“We will allocate the Series B funding acquired to expand Kata.ai’s business and services to the commerce, healthcare and insurance technology industries,” said Irzan Raditya, Kata.ai’s CEO and Co-founder.

Also Read: Kata.ai raises US$3.5M in Series A funding round

“This year, our focus is to develop QIOS, which aims to help SMEs expand their sales network and improve the customer shopping experience. The QIOS app initiative was inspired by the condition of SMEs in Indonesia, especially with the current pandemic, where we notice up to 70 per cent decrease in sales for SMEs,” Irzan added.

“We hope that QIOS can help SME entrepreneurs develop their business with the help of AI and automation technology,” he continued.

Kata.ai develops AI technology in understanding human conversation to allow better interaction between humans and computers. Its NLP has been used to create chatbots for companies and other stakeholders in Indonesia, including Telkomsel, Indosat Ooredoo, Bank BRI, Pertamina, Blue Bird Group, OVO, Midtrans, Warung Pintar, Healthcare and Social Security Agency, Ministry of Education and Culture, and Ministry of Tourism and Creative Economy.

As per a report, social commerce platforms are predicted to have a significant role in online commerce sales in Indonesia. McKinsey predicts that by 2022 the total Gross Merchandise Value (GMV) of social commerce in Indonesia will reach 25 billion US dollars.

As QIOS is based on chatting apps such as WhatsApp, which has more than 125 million users in Indonesia, QIOS allows SME merchants to target large potential market shares with a new approach.

The QIOS platform is also currently connected to e-wallet and e-payment apps such as OVO, GoPay, LinkAja and DANA, as well as online courier platforms such as GoSend and GrabExpress to help the QIOS platform users in their business.

Also Read: Ethics and Artificial Intelligence: Is the technology only as good as the human behind it?

Kata Platform has processed more than 700 million conversations and three million monthly active users who interact with chatbots created by Kata Platform.

During the pandemic period, the number of conversations that took place also accelerated significantly, with growth reaching 3 times the number of normal conversations.

“We are grateful and proud of our achievements. Apart from obtaining Series B funding, Kata.ai has also recorded consistent growth in Annual Recurring Revenue (ARR) for three consecutive years, namely the 2018-2020 period,” noted Irzan.

In August 2017, Kata.ai had raised US$3.5 million in Series A funding round, led by TPTF.

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Philippines’s New Wave joins hands with Emissary Capital to launch US$50M fund for ASEAN startups

New Wave, a subsidiary of Philippines-based IP E-Game Ventures, has signed an agreement with Malaysia’s boutique investment firm Emissary Capital to set up a US$50-million fund for ASEAN startups.

The Emissary Capital Growth Fund 1 aims to build stronger collaboration between startups in the region, with a key focus on the Malaysian and Philippine market.

As per a press release, New Wave will invest up to US$7.5 million in the new fund as a Limited Partner. The two firms will form a joint venture to serve as General Partners to manage the fund’s investment decisions.

“We are looking to strengthen the corridor between Malaysia and the Philippines, as well as with the rest of Southeast Asia. Technology businesses today must have a regional outlook and entrepreneurs must demonstrate the ability to scale this way,” said Enrique Gonzalez, Director, New Wave.

Also Read: 3 startups thriving amidst COVID-19 lockdown in the Philippines

“Our fund is looking to invest in Southeast Asia’s growth companies led by founders that have proved resilience and success,” he added.

With both countries harnessing the digital economy to hasten COVID-19 recovery, the investment firms are keeping a bullish outlook on Malaysia and the Philippines as growth hubs, especially for tech-based startups.

Kuala Lumpur and Manila are seen to be among the top emerging startup ecosystems in the world, ranking 11th and 31st respectively in the Global Startup Ecosystem Report 2020 (GSER 2020)

Also Read: How Malaysia has become a global digital investment destination

In 2019, the Philippines officially enacted the Innovative Startup Law which aims to incentivise MSMEs in the country, while Malaysia has been working towards enabling businesses to innovate through the Malaysia Digital Economy Corporation (MDEC).

Despite the disruptions of the pandemic, fintech is a common sub-sector strength identified in the report by both markets, evidenced by the proliferation of e-wallets and digital payments-focused business models. Other strong sub-sectors noted are Malaysia’s e-sports growth and the Philippines’ high e-commerce demand.

Image Credit: Photo by Eugenio Pastoral on Unsplash

 

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Meet the 20 startups selected for Taiwanese accelerator AppWorks virtual showcase

 

AppWorks

Participants of the AppWorks Accelerator

Taiwan-based AppWorks Accelerator has launched its inaugural virtual Startup Showcase. The event features 20 promising early-stage startups from Greater Southeast Asia (Taiwan and SEA).

The companies selected have displayed traction and leverage digital technologies to tackle problems in key markets across the region.

“COVID-19 has not only accelerated the importance of digital transformation, but also transformed the way entrepreneurs engage with the market, investors, and strategic partners,” said Jessica Liu, AppWorks Partner.

“With the GSEA Startup Showcase, we hope to provide an efficient gateway for quality founders to connect with and learn from peers, collaborators, and partners, regardless of location,” she added.

Also Read: Taiwan’s incubator AppWorks reveals 18 startups joining its demo day, to showcase Southeast Asia’s AI, blockchain capabilities

With the addition of startups recruited this year, AppWorks claims there are now a total of 395 active startups and 1,331 founders within its ecosystem, collectively producing a turnover of US$8 billion.

There are over 10 nationalities represented among the 20 pitching teams, of which 30 per cent have at least one female co-founder.

More than half of the founders have started at least one venture before, with some having exited to companies such as Yahoo and Societe Generale Group, while others have prior experiences in leading tech companies such as LinkedIn, Google and Microsoft.

From healthcare and human resources to productivity and education, here’s a snapshot of the participating companies:

Moladin: Empowers automotive sales agents in Indonesia to sell better and faster through its mobile-first marketplace. It recently raised a pre-series A round led by East Ventures.

Docosan: Allows patients in Vietnam to compare healthcare providers across a wide range of specialities, book appointments online 24/7, and manage their own health data. 

Workbean: An online platform that helps employers more effectively convey their culture and branding to prospective hires, with the aim of reducing the mismatch between companies and job seekers.

Mighty Jaxx: A global platform to buy toys and art collectibles. It partners with leading brands such as Warner Bros, Marvel, and Disney to design pop culture collectibles.

Also Read: Online designer toys and collectible platform Mighty Jaxx secures US$1.6M financing

SoopahGenius: Utilises Artificial Intelligence to help live streamers significantly decrease the time and cost of producing content from their raw materials.

Poseidon Network: Distributed global node network that collects and distributes idle resources from P2P devices, allowing everyone to build their own services in the cheapest way all around the globe.

Astra: Uses face recognition to help organisations manage part-time and remote employees more easily and efficiently across multiple locations and regions.

Accredify: Stores, displays and authenticates medical records securely through the use of blockchain technology.

AyoBlajar: An e-learning platform that provides basic learning content, live class, 1-on-1 mentoring, and LMS, focusing on high-school students.

Chip Chip: An online platform connecting Filipino teachers with Vietnamese kids for English conversation and study.

ZumVet: A televet solution for pet owners, providing them with services such as video consults, drug delivery and digital health records at the touch of a button.

Aiello: Conversational Artificial Intelligence SaaS platform for property management, hospitality and service industry.

Cognicept: Provides Human-in-the-loop (HITL) error handling with telerobotic networking technology and human remote operators.

Fatster: A mobile social network whose mission is to help overweight people find their best buddies to lose weight with.

Glints: Full-stack talent platform for professionals to connect, upskill and get matched with employers.

Minastir: Artificial Intelligence-based asset management solutions for fund managers.

Freehunter: Asian-focused freelance marketplace for designers, writers and programmers.

Pitchspot: Integrated workflow management and strategy planning canvas to enable innovative teams to work smarter, and faster.

GoBuddy: An all-in-one tool for online sellers, combining an e-commerce platform with booking and ticketing management.

GrowthSpot: A digital platform catering to sellers with limited knowledge and knowhow.

Check out the team pitches at the online startup showcase portal here.

Image Credit: AppWorks Accelerator

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Jakarta, Singapore named as top global fintech ecosystem in new report

In its latest report on the global fintech ecosystem, Startup Genome named Singapore in the top five list of top global fintech ecosystem while Jakarta shares the 17th position with Atlanta.

Jakarta’s entry to the list was pushed by the number of exits and funding round that the city has experienced. It is also home to leading unicorn startups in the region; these startups are either focussing on the fintech verticals or has a fintech service as one of its offerings.

Last year, in its Global Startup Ecosystem Report, Startup Genome already highlighted Jakarta as a “challenger” for leading startup ecosystem globally.

The report considered factors such as performance, funding, talent, focus, and legacy when shortlisting the fintech ecosystem in the list.

With the rise of these fintech hubs in the APAC region, according to the report, Europe and North America no longer dominate the top 20 global fintech ecosystem.

In addition to Jakarta and Singapore, other Southeast Asian cities such as Bangkok, Kuala Lumpur, and Manila as emerging fintech hub in the Southeast Asian region.

Also Read: From 30 to 400: TNG Fintech Group founder and CEO Alex Kong shares how to grow your human capital

Early stage fintech funding declines

The Startup Genome report also looked at how fintech funding the global ecosystem fared.

Even before the COVID-19 pandemic –which has been known to affect startup funding in the various ecosystem– the report noted that there was already a decline in the global fintech funding.

It explained that the year 2018 was considered as the peak for investment in the fintech vertical. In fact, in the last year’s edition of Startup Genome’s Global Startup Ecosystem Report, fintech had already been put into the mature subsector category.

“Early stage funding (pre-seed, seed and Series A) has plateaued almost everywhere. China in particular has seen a drop. The notable exceptions are Europe and Americas (excluding the US), both of which have seen an increase,” the report detailed.

“Series B+ funding is doing better with China being the only region down in 2019, but this is due to a whopper year in 2018, led by a US$14 billion funding round for Ant Financial,” it continued.

It also explained that the increasing share of Series B+ funding rounds for fintech companies indicated “industry consolidation with more money being poured into winners.” It is also considered “ultimately necessary” as fintech commercials require large volume for profitability.

When it comes to popular sectors, the report noted on the rise of digital-only banking –including services such as wealth management and broader service bundles– and artificial intelligence which was dubbed as a “natural complement” to fintech due to its ability to help provide hyper-personalised solutions.

Image Credit: Blake Wisz on Unsplash

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Meet the 15 Asian startups that will advance to Seedstars World Competition 2020

The local winners of the Seedstars World Competition (SSW) 2020 have been announced with 15 startups from Asia included in the batch.

The next phase will take the local winners to the regional stage where 10 startups will receive US$50,000 in the growth program investment as well as the chance to compete at the Grand Finale for a shot at the “Global Winner prize of US$500,000 in equity investment”.

The regional stage will include a one-month long programme to help startups get investment-ready. It will include action-driven webinars on key business metrics; online office hours, where startups can discuss challenges they are facing; domain groups and one-on-one mentoring sessions; investor meetings for potential funding opportunities; and peer-to-peer learning and networking sessions.

“Sourcing for early-stage tech startups used to be linked to the ability to find one hidden gem out of hundreds of applications. Times have drastically changed, especially in Asia. With the development of technology, a surge in internet adoption, and a fast-growing market, new entrepreneurs are capturing these opportunities by using technologies to solve our daily problems. I wish the best of luck to all the winners for the next stage of the SSW 2020/21 Competition, and I hope we will see an Asia-based startup becoming the Global Winner this year,” said Seedstars Asia Regional Manager Giovanni Corradini.

The Swiss VC fund has a portfolio of 59 startups across the globe. It claims to have more than half of its companies to have successfully gone on to raise follow-on capital from later stage investors such as Omidyar, Sequoia and YCombinator.

Also Read: Meet the 3 startups from emerging markets that will pitch at Seedstars International Demo Day

Here are the 15 selected startups:

shurjoMukhi Limited (Bangladesh)

An online payment gateway for online banking, bill payment and shopping. 

One Click Shop Bhutan (Bhutan)

An e-commerce grocery store.

PlasGate (Cambodia)

An SMS gateway and aggregator.

BOXS (Hong Kong)

BOXS Universal Interface connects all technology to optimise and automate company workflow.

iSchoolConnect (India)

Improves school admissions by utilising marketing, recruitment, assessment and engagement.

TukangSayur (Indonesia)

Allows users to shop for economical, fresh and hygienic vegetables through a smartphone.

Finology (Malaysia)

Fintech company primarily serving clients in banking, insurance and property industries.

Message Owl (Maldives)

A B2B and B2C SMS platform which allows businesses to send SMS Messages (Promotional and Transaction).

Also Read: E-payment solution Duithape wins Seedstars Jakarta

Kiu Myanmar (Myanmar)

Empowers MSME/SMEs to improve their business efficiencies by channelling loans to grow their business.

Diyalo Technologies Pvt. Ltd. (Nepal)

Software company that develops level applications for web and mobile devices.

ELN Limited (Pakistan)

Provides online vocational training to over 25 countries in education, quality assurance, health and safety.

Smartfuture (Singapore)

Offers integrated IoT and AI-enabled white-label platform for telemedicine to healthcare providers.

Healthnet (Sri Lanka) 

An online registered and licensed pharmacy that delivers medications at the doorstep.

Foodie (Thailand)

An online food delivery platform that also includes breakfast and tiffin services.

Also Read: Sayurbox wins Seedstars Jakarta, will represent Indonesia in world final stage in Switzerland

Bot Ban Hang (Vietnam)

A leading messaging and omnichannel commerce for online businesses.

Image: Seedstars

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Kredivo bags US$100M from US investor to provide instant credit financing to 10M new users in Indonesia

Kredivo, an Indonesia-based digital credit platform, announced today it has secured a credit line funding of US$100 million from US-based investment company Victory Park Capital (VPC).

This credit line is the largest in Kredivo’s history and within the fintech industry in Southeast Asia, it said in a press note.

The funding also marks VPC’s inaugural investment into the Southeast Asian market.

Also Read: How fintech is making credit more accessible for Southeast Asian SMEs

The fintech startup will utilise the funds to develop and diversify its loan book, all of which comes from third-party funds.

Kredivo’s Co-founder, Umang Rustagi, said: “The large line of credit funding available through this facility will accelerate business scalability and realise our target of serving up to 10 million new users in the next few years.”

Gordon Watson, Partner at VPC, said: “Kredivo is able to demonstrate a unique combination of growth, market reach, risk management and financial inclusion in Indonesia, which is one of the most developed markets in the world.”

Operated by Singapore-based FinAccel, Kredivo provides instant credit financing to customers for purchases on e-commerce, offline and cash loans, processed based on real-time decisions. Users can buy now and pay later with low-interest rates.

The firm’s trading partners benefit from instant point-of-sale (PoS) funding with a 2-click checkout via Kredivo.

Its parent FinAccel is backed by Mirae Asset, Naver, Square Peg Capital, MDI Ventures, Jungle Ventures, as well as several other investors.

Also Read: P2P lending startup Modalku raises debt funding from Dutch VC firm to widen credit access in Indonesia

Given that credit card penetration remains at 3 per cent in Indonesia due to limitations of conventional financial institutions in distributing unsecured credit, Kredivo claims its services are able to bridge the credit gap within the archipelago.

Founded in 2007 and headquartered in Chicago, VPC invests in large companies as well as emerging business segments in various industries in the US and the world, which often lack access to traditional sources of capital.

A week ago, Investree, an Indonesia-based fintech lending platform, received a commitment of US$15 million from US-based Accial Capital to provide loans to small and medium enterprises (SMEs) in Indonesia. The two firms have been working closely with each other since 2017 and have been funding a sub-segment of Investree’s SME loan portfolio.  

Image Credit: Photo by Ibrahim Rifath on Unsplash

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How Inmagine is Googlising its workplace to foster an inclusive and collaborative work culture

Google.

This global brand comes to our mind when we hear the phrase ‘work culture’ —  and a job here is a dream for many of us.

But what makes Google’s work culture unique?

The answer is simple: its work culture is synonymous with employee engagement. It actively encourages employees to innovate. What is more, at Google X lab, employees are encouraged to ‘shoot for the moon’ and are rewarded for their failures

The Asian companies are not as evolved as their Western counterparts when it comes to providing a great work culture, but they are gradually catching up. Many are now genuinely trying to do a Google by making their work culture flexible and more fun.

Malaysia-based Inmagine Group is one such firm. Founded in 2000 and headquartered in Kuala Lumpur, the group owns many product — CraftBundles, Designs.net, EasyDesign, LoveSVG, TheHungryJPEG (which it acquired in March 2017), Pixlr, SoundBounce, StockUnlimited, Story & Heart, Designs.AI, and Vetr (acquired in November 2017).

Over its two decades of existence, the group has evolved its culture and has now become more inclusive. 

In this freewheeling interview with e27, its group CEO Stephanie Sitt, Assistant Manager (Talent & Culture Operations) Will Tan, and Head (PR & Social Media) Abigail Thien are sharing insights on the company’s inclusive and empathetic work culture.

Below are the edited excerpts: 

What is your definition of work culture?

Sitt: I would say that culture is all about how a group of people from different backgrounds come into one place, mix, live together, tolerate each other’s weaknesses, see the beautiful sight of strength of everyone, and get things done. This way the life goes on in a very healthy manner.

In my perspective, the uniqueness of our company culture is that even though we are a corporate, we take care of our staff and have always practised the vision of empathy and spread positivity.

Inmagine CEO Stephanie Sitt

This is very important because we all have our problems in our personal and professional lives. But we always seek to spread positivity and make sure that everyone around us in the office is like a pillar to everybody.

Also Read: Having the right team is the single biggest determinant of your success: 123RF Co-founder Stephanie Sitt

I am a quite expressive person, who always says to the staff “thank you guys, you are the pillar for me to get my job done”. Without my staff, my hands are tied and I won’t be able to do my work fully focussed.

Another peculiar aspect of our culture is that we don’t retrench employees or resort to pay cuts. Protecting jobs and dispersing salaries on time, etc. are very important for us even during the ongoing crisis.

We have these core values of togetherness with differences in the forms of culture and the beliefs we have, so that we could get things done as a team.

Thien: The most unique part of our company culture is that we have a voice and we feel safe. Inmagine likes to hear us and allows us to share our thoughts and send in suggestions.

This, I believe, is a great way for employees to share their needs and grievances with the firm. At the same time, it also shows the concern for the well-being of the staff.

Tan: Inmagine gives utmost importance to the interests of the staff. It has an inclusive kind of environment. Everyone has a voice, which we believe is a very key component of making a very strong and healthy culture in any company, not just Inmagine.

Do you follow startup culture or corporate culture?

Sitt: Although we have evolved from a startup to a corporate now, our work culture comes somewhere in between. When it comes to work, there are certain things that we don’t want to act like a startup.

Back in 2000, the year we started, we had just a handful of employees, of about seven. I remember when we turned three, everything was still at an infancy stage.

A typical startup mindset is that we could make decisions quickly. Things move faster in startups. Everyone could chip in with their suggestions and get things done quickly.

However, the culture changes as we grow the team and hire people from different backgrounds and with different skillset. When business needs changed, processes have also changed and we have developed a more detail-oriented culture.

Having said that we still want to maintain certain DNAs of a startup. Two years ago, we started something called “corporatisation” exercise, wherein we communicated with the staff about the needs for changes, so they don’t get culture shock.

How do you bring the culture component to the employee hiring process?

Sitt: We do not hire people who could fit into our culture; we hire candidates who have the skillset to perform a specific function, thereby contribute to the workforce and the growth of the firm. And then, they assimilate to our culture.

Google has one of the best work cultures. Do you emulate it in any forms?

Sitt: Yes, very much. At one point of time, I was even using the phrase “Googlising the office” by providing free food and flexible working hours like Google does.

If you’ve been to our office, you can see Captain America, Claw Machine, PlayStation, karaoke and artificial grass. All these things were brought in to make our workplace cool. These things will speak enough about the differences/uniqueness that we have compared to most conventional offices out there in Malaysia.

What, in your view, are the key factors that contribute to building a great culture?

Sitt: It starts with understanding each others’ needs — personal or work-related. It is not just between employer and employees, but also among employees themselves.

Respect each other. We all come from different cultures and backgrounds, and we speak different languages and have our strengths and weaknesses.

We just need to be a bit sensitive with all this. And more importantly, take good care of your own career and then only we can care about others and care for the business.

How do you keep your employees motivated to be creative and innovative?

Sitt: It all depends on the projects, the departments and sometimes the team leads.

If I speak for myself, I always like to throw challenges to my team members who report to me. I throw them certain crazy questions and get them to think about it.

Also Read: Is your new work-from-home culture stressing your employees?

We do not practise serious hierarchical kind of relationship with our colleagues. It’s all about “okay, someone has some crazy ideas and let’s talk about it”.

I always have a lot of crazy ideas and I like to talk to someone. It may not necessarily be face-to-face; at times, I share them on WhatsApp and then the guys just think about it on the weekend. By the next working day, they come back with some crazy feedback at the very least.

This keeps people motivated because these tasks will sometimes be quite entertaining. That’s just how I see it.

I think this is the direction that an organisation should take. They should always communicate with the staff and should made themselves to be as approachable as possible and exchange ideas with each other.

We don’t have what they call it “you are the boss”. It is all very all inclusive.

Do you recognise your employees with talents in music, dancing, etc.?

Sitt: Yes we do. We organise an annual dinner for our employees, which also acts as a platform for our staff members to perform their skills. We also give out prizes.

Instead of hiring top performers from outside, we sometime consider our own in-house performers.

Tan: Yes, we do recognise talents. Everyone is unique in terms of his or her strength and talent. We organise events and we call them not just for performances but we also ask them to come on stage to share their thoughts just to get the ball rolling.

And everyone will be more than happy to chip in with ideas that will also translate into one-off performances on stage. Everyone is able to voice out.

We are a very tech-driven company, so we need to keep up with all the updates, changes. Sometimes, we can get a little bit overloaded with all the information but we are able to have this stand-up session just to have individuals to contribute.

And I think that is healthy for every staff to be able to work and see that they contribute to growth of the company.

How do you foster a culture of ‘intrapreneurship’ at Inmagine?

Sitt: Intrapreneurship takes place in various departments. In my view, ‘intrapreneurship’ is not just about the business or revenues but is also about taking ownership of projects and taking the lead from there.

When there is a new project, we will ask our staff members who are interested to participate and we then encourage them to take it from there.

Sometimes they worry that what if they cannot deliver or live to the expectation. This is where the management plays a role. We encourage them by saying: “you have this strength and skillset, why don’t you take it up?”

We will also lend a ear to their concerns and listen to their feedback and guide them accordingly. This creates an impression that they have someone to take care of them when things go wrong. But most of the time, they will be doing it on their own.

Who plays a greater role in building a company culture — the bosses or employees?

Sitt: I would say it is 60-40, with the majority coming from the management/team leads and 40 per cent from other team members. So it is a mix of everything. And if we dissect it into the patterns, then each department is different.

What is the impact of the pandemic on your company culture?

Sitt: The pandemic has definitely impacted us, especially our work culture because this meant a total switching to a new working model, that is working from home.

Also Read: Pivoting beyond product: You need to look at your company/work culture, too

We miss the laughter during the meal time/break time. Everything is now very much reliant on online meeting to keep everyone together.

We always like to do meetings on the video, so everyone can see each others’ face. But poor Internet connectivity often creates hurdles. Whatsoever, everyone remains equally busy and productive.

During the pandemic, we launched two new products — Pixlr and Designs.AI in February and March, respectively. These two products keep our guys quite busy.

But the culture of ‘work from home’ comes attached with its own challenges. Distraction is one; you get distracted with your domestic affairs/daily routines. However, we provide an online exercise session for the staff during town halls and keep everybody updated about what’s going on and remind them to have discipline not just in the work but in the life as well.

The stress and the months of lockdown can make employees mentally weak. They often get stuck in front of their computer/laptop for quite a few hours and unknowingly skip the meals. When you work at home, you still need to spend time to take care of yourself.

Thien: At office, staff will be served lunch and tea break. These break-out times help us stretch out and walk around. It also gives us an opportunity to mingle with our colleagues and get to know each other well.

I think providing free lunch and the daily team breaks help improve the work culture, and they also bring employees closer together. In doing so, you release some stress as well.

For all this to make a reality, you need a great leader. What according to you makes a great leader?

Sitt: In my perspective, a leader is someone who listens, has empathy, doesn’t jump the gun, and has good emotional quotient. It is not just about intelligence but is also about how you manage a team during disasters/serious conflicts. A leader has to be very calm and objective to solve a problem. He/she should always spread positivity.

Also Read: The new communications playbook for the new normal

I’m not an argumentative type. Neither am I someone who put blames on my colleagues when things go wrong.

I think with the kind of work we do — which is so unique — understanding why things go wrong and what we can do to make it better in the future is more important. And there is no pointing fingers at each other.

Do you collect employee feedback? How do you do it?

Sitt: All the time. We have a channel for our staff members to write to us/shoot us anything any time. We look at each one of the questions carefully and compose our replies in a structured manner. We give utmost care while drafting our responses.

Most of the time, employees see things from their perspective and don’t see things from the company’s perspective. Sometimes they do not understand things and they may not be able to connect the dots and often fail to see the full picture.

When we get bombarded with rude feedback, all we we need to do is evaluate those points. If there are things where we have done wrong, we apologise. If there are things that we know that we can improve, we would think of that.

That’s how employee feedback works at Inmagine. We use the staff’s communication platform for these exchanges. We don’t hide messages. Staffers can also send their feedback anonymously, but we give due seriousness to every feedback.

Do you retrench/fire people? Can you share the process?

Tan: For our record, we do not really terminate anyone’s contract. If there is any friction, we speak with the aggrieved staff to know what their grievances are and sort out things.

We believe it is the extreme step to fire someone. Even if there is no other way out, we will ensure the process is smooth. We don’t burn the bridges. We may have differences but then we work out a solution that provides a win-win solution for both parties.

How do you stand out in terms of building a conducive environment for your workforce?

Sitt: We truly provide a steep learning curve. As far as my knowledge goes, there are no other workplaces or companies which provide the same knowledge and experience as we do. At Inmagine, it’s all about learning. However, it is up to the individual.

I have to admit that I had serious millennial syndrome when I was young. Millennials nowadays are often labelled as troublemakers. Back then, I wouldn’t listen fully. It is not that I didn’t listen; I did but I didn’t agree. I always thought that I was right, so even when I was young and working, I gave lots of headache to my superiors.

Here at Inmagine, we have lots of young people who want to lead. They may be inexperienced and it may be their first or second job. However, we do not want these talented young people to start on the wrong ground.

So it’s all about communication and on-job training where we talk about steep learning curve to make them the best of what they do.

The Inmagine team

Inmagine team

There are times that we also empower them to lead various projects. There are certain days they look for you for some advice, but they may not want to fully listen to you, so they will still put some of their own ideas as well.

But sometimes, we let them learn from their failures. We need to give people certain space to test and validate. We say it’s okay if you make a mistakes that don’t prove costly. That’s my perspective on how I lead a team.

Also Read: Startup founders are responsible for their remote employees. Here’s how to fulfil your duty of care

In that sense, there are quite several leaders at Inmagine. But of course, there are certain departments, say IT for example, where we do not allow them to test on certain things.

But if it is a new product that we develop, we may allow staff to experiment.

Tan: I think that there’s enough room and space where we can go and start to get creative. Being able to work in this company is all about being creative and finding a solution. An opportunity is given with the space that we have, which allows us to become more agile.

I think all this part and parcel of your personal/career growth.

At the end of the day, the company will generally benefit from all this. I believe it’s healthy for anyone to emulate that.

What is you advice to entrepreneurs as the chief of a corporate?

Be truthful, honest, humble and transparent to your team members, because all these things will eliminate a lot of misunderstanding.

We now have a lot of young people who have lots of ideas. So being a boss, when you listen to others, it doesn’t cost you anything other than a bit of time. So it’s okay to spend a bit of time to listen to others, let’s say 30 minutes every week. 

Image Credit: Inmagine

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Mangkokku raises US$2M from Alpha JWC to expand its chef-level dishes biz in Indonesia

Mangkokku

Founders of Mangkokku

Mangkokku, a culinary startup based in Indonesia, has received US$2 million in seed funding from local VC firm Alpha JWC Ventures.

With the fresh investment, Mangkokku is aiming to open 30 branches by the end of 2020 and more than 75 by 2021.

Mangkokku was founded in 2019 by Indonesian Masterchef judge Arnold Poernomo and businessman Randy Kartadinata. The duo also partnered with two F&B serial entrepreneurs Gibran Rakabuming and Kaesang Pangarep, who are also sons of Indonesia’s President Jokowi.

Also Read: Alpha JWC Ventures expands F&B portfolio with US$5M investment into Goola

The startup offers professional chef-level dishes in the form of rice bowls at affordable prices. Spinning a local twist on conventional Japanese rice bowls, it uses local ingredients to suit their rice bowls to local tastebuds.

Mangkokku currently operates 22 branches in the Greater Jakarta area and plans to expand into Surabaya soon.

The startup is now looking to expand its offerings beyond rice bowls in 2021.

Starting with beverages, dessert and packaged sambal chilli sauce, it plans to eventually roll out other dishes to become an end-to-end culinary solution for its customers.

“We see that F&B continues to be an attractive sector that could benefit from technology enablement and venture capital investments. Mangkokku clearly has shown strong traction even during the pandemic, which proves its product-market fit. Our support on capital, know-how, and resources is to help the company scale faster and evolve from what’s already good to a great, lasting business,” said Eko Kurniadi, Partner at Alpha JWC.

Kartadinata claims Mangkokku serves 400 to 600 bowls per branch on a daily basis. However, he is not satisfied.

Also Read: How Cooklab seizes new opportunities during the pandemic to become Indonesia’s answer to Blue Apron

“The dream is to become Indonesia’s largest F&B group targeted to the mass market and build our own ecosystem of multiple brands and culinary institutions. Not only that, but we also want to be the best culinary company in terms of local and regional scalability, as well as operations excellence. That’s why we took this startup route and partnered with Alpha JWC Ventures,” he added.

“Our passion for local food is what started the company, and we believe that the core of Mangkokku lies in the superiority of our dishes and continuous innovation,” Poernomo said.

“We are also building a company with a global mindset: that the only way we can grow fast, right, sustainably, is by providing the best options at affordable prices and maintain a standardized process in every single dish we serve. That’s why we operate all of our branches and apply technology-enhanced cooking processes to maintain product quality and consistency,” Poernomo concluded.

Image Credit: Mangkokku

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Building business in the mobile age: strategies to maximise business app solutions

Over the years, businesses have embarked on digital transformation and mobility journeys that have vastly changed how employees work. Whether you’re looking for a team management platform, a video conferencing tool, or a seamless mobile payment solution, chances are, there is already an app for you readily available on your mobile phone. With the advent of technology and digitalisation amplified by today’s unique market, one key advantage is the democratisation of software development — enabling the influx of different app solutions designed to accommodate various business and personal needs.

With COVID-19 figuring into the equation, the mobile messaging market alone has demonstrated spurring growth that is expected to span all the way to 2026. The pandemic has also sparked a growing demand for contactless transactions, paving the way for the widespread adoption of mobile payment solutions. These are only some of the tools impacting businesses everywhere that have seen significant developments, particularly in the mobile working space.

Also read: How Inmagine is Googlising its workplace to foster an inclusive and collaborative work culture

These apps help people operate businesses, manage teams, communicate remotely, and organise information, among many others. But of course, mobile apps are not one-size-fits-all, therefore, broad solutions are not always able to accommodate the complex demands and specific needs of all businesses.

Thankfully, with this advent ushering in a more digitalised future, it is also much easier for businesses to customise, collaborate, strategise, and develop tools themselves that others may also use — whether as businesses in need of similar solutions, or customers looking for mobile access to your products and services.

The future is mobile

There is an important case to be made as to why companies must turn to mobile apps in order to improve their performance.

From an internal perspective, it is crucial that companies and their employees are able to maximise their efforts despite segregated and remote working environments. Communication lines must remain intact, meanwhile, task delegation must be streamlined under one convenient platform made accessible to all.

Also read: How Singapore is working with startups to prepare local travel and tourism industry for its comeback

Moreover, from an external perspective, there is a slew of benefits to be gained from engaging your customers through mobile apps. Research shows that smartphone users spend at least 162 minutes daily on a couple of apps on their smartphones. With many people using mobile phones around the globe, mobile apps can operate as a portal to your company, increasing business visibility and promoting growth.

Through the power of a mobile app, you can increase customer engagement, create a direct and personalised channel, build brand awareness, and capture customer insights, encompassing only a few of the many major perks that come with developing your own business app.

These benefits empower customers not only to access your company, but conversely empowers your company to access various markets as well.

Solutions for you, by you

With the growing complexity of business needs, solutions must be flexible and customisable in order to effectively address unique and specific challenges. This is the beauty of digitalisation: today, businesses that require a more customised tool can collaborate with app developers to create mobile solutions fit for distinct problems. Moreover, businesses also have the power to develop those app solutions themselves — aided with the right knowledge and skills.

This ultimately contributes to a wide selection of apps available in the market that can help companies work seamlessly and effectively anywhere they are — underscoring the important role of mobility and automation given today’s business climate.

Join us: Explore strategies to maximise the value and impact of apps on your business and operations

As such, it is also important that companies develop a certain level of awareness of their own needs in order to properly strategise how existing tools can be married with new solutions and innovations in a way that optimises business performance.

With all the apps available and our capacity to co-create and develop new ones that address more specific problems, the next important step is for businesses to turn to experts in order to gain knowledge and insights on how to maximise solutions that reshape how companies work — making them not only more mobile, but also more efficient.

Smart and strategic ways to build business

As we plunge further into the digital future, companies must be strategic when it comes to navigating our seemingly endless pool of solutions. Not only should companies be keenly aware of their every strength and deficiency, but they must also have a deep understanding of what solutions are available for them, what solutions can still be developed, and how to maximise the value and impact of those solutions.

With the help of industry experts and tech leaders, e27 is launching its webinar entitled “Work Seamlessly”. This project seeks to impart key insights and strategies that can help companies learn more about developing apps that can significantly impact their businesses especially in the age of mobility.

On November 25, Wednesday, at 2 PM SGT, this exclusive event will help companies reshape how they work, recalibrate their systems, and push them further into their digital transformation and mobility journeys.

The Work Seamlessly event is exclusive to e27 community members. Interested to join? RSVP here.

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Photo by Austin Distel on Unsplash

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