The fund is the second one the Singapore-based early-stage venture firm has raised

Cocoon Capital, the early-stage venture firm in Southeast Asia, has announced the second fund it has raised a US$22 million (S$30 million). The firm said that it plans to use the funding to back enterprise tech startups around the region.

Along with the funding announcement, the firm also announced its initiative of hosting public mentoring hours regularly in partnership with local accelerators and co-working spaces in Singapore, Ho Chi Minh, Hanoi, Manila, Bangkok, Jakarta, and Yangon in a bid to help grow the local entrepreneurial ecosystems.

Cocoon Capital was founded by Michael Blakey and Will Klippgen, who both are early-stage investors in Asia. Both Blakey and Klippgen are also behind portfolios like PropertyGuru, Tickled Media, and iXiGO.com in their early-stage fundraisings.

A survey conducted by Econsultancy.com Ltd2 resulted in 68 per cent of Southeast Asia-based respondents said they have an omnichannel strategy that incorporates B2B ecommerce. However, only 7 per cent of venture capital has been channeled to B2B startups in the region.

Cocoon Capital’s second fund plans to back the enterprise tech market with medtech, fintech, insurtech, and general “deep” tech sectors as primary targets.

Also Read: iflix raises over US$50M in new funding round led by Fidelity

“Over the last three years, we at Cocoon Capital have seen a radical improvement in deal quality, in particular from the Southeast Asia countries outside Singapore,” said Michael Blakey, Managing Partner at Cocoon Capital.

“There is a continuing gap in the region when it comes to hands-on mentoring, in particular at the early stages of a company’s formation, and Cocoon Capital has operation that seeks to provide a support package to our founders, one that is in the same league as networks in Silicon Valley, London, or Shanghai,” added Will Klippgen, Managing Partner at Cocoon Capital.

Cocoon Capital’s second fund is supported by investors including Michelle Yong (Director of Singapore’s Aurum Investments), Jani Rautiainen (Co-founder of PropertyGuru), Parag Khanna (The author of “The Future is Asian”), Pierre Lorinet (Director at Trafigura Group), Matthew Chapman (Founder of ChapmanCG), Stein Jakob Øie (Former President at Lazada), hedge fund manager Steve Diggle’s Vulpes Innovative Technologies Investment Company, Martin Hauge (Partner in Creandum – streaming giant Spotify’s first financial investor), Martin Roll (Global strategy consultant), and Oliver Tonby (Chairman of McKinsey’s offices in Asia excluding Greater China).

Also Read: Go-Jek unveils new logo as it enters next phase of growth

Cocoon Capital’s portfolios are including cleantech company SensorFlow, stroke-predicting software medtech company See-Mode, ticketing company Hapz, Filipino e-merchant ​Poundit, and Vietnam-based automated influencer matching platform Hiip.

Logistics platform Kargo Myanmar was the first to be backed by Cocoon Capital with its second fund.
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The startup said that the funding will be directed towards helping its clients sell online

aCommerce, a Bangkok-based startup that helps to establish product sales of brands announced that it has raised more than US$10 million from existing investors including KKR & Co, as reported by Bloomberg.

KKR’s Emerald Media, investment house Blue Sky, DKSH Holding AG, and an Indonesian conglomerate Sinar Mas, also took part in the company’s latest funding round.

“The six-year-old firm plans to raise another US$5 million by the end of this year as part of an extended Series B or early-stage funding round,” said Chief Executive Officer Paul Srivorakul

“We have ambitions for an IPO that forces us to grow a healthy, valuable business,” Srivorakul added.

Also Read: Go-Jek unveils new logo as it enters next phase of growth

aCommerce’s services include providing services from distribution and marketing to warehousing and delivery. Currently, it operates in Singapore, Indonesia, Thailand, Malaysia, and the Philippines.
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A layman’s guide in creating and using instagram for business

Studies show that more than 30 million companies across the globe use Instagram for business, and the platform has about 200 million visitors accessing at least one business profile daily.

Instagram is now becoming a grand platform for business and brands and engages the users more compared to Facebook or Twitter.

Instagram followers are found to be more brand-loyal, and the business promoters can achieve their goals better on this platform.

In this guide, we will discuss the simple steps involved in setting up an Instagram Business account and running it.

Step #1: Getting instagram for your business

If you already have a personal account on Instagram, which has brand-relevant content and a considerable following, you can best convert it to an Instagram business account.It will unknot many business features.

You can also create a new Instagram business account if you want to via the following steps:

• Download Instagram app (available for Android, iOS, and Windows).
• Sign up
• Enter your email ID.
• You can connect your Instagram account with Facebook Business Page by using the FB admin e-mail ID or just by choosing log-in with Facebook option.
• Choose a username and password. Enter profile info.
• Done

To convert an existing personal account:

• Log-in to the existing account.
• Tap on the profile icon.
• Go to settings.
• Choose the ‘Switch to Business Profile’ option and continue.
• Here also you can connect Instagram Business account to the Facebook Business page by choosing that option.
• Add further contact information like email, phone, physical address, etc.

Step #2: Develop an Instagram business strategy

First, define the target audience and the ideal customer. Even before making your first post, you need to think of who is going to see it and what they expect.

There is a vast majority of users on Instagram who are of the age below 35. The United States has the largest amount of Instagram users, followed by India and Brazil.

This type of information is essential to start, but going beyond these overall demographics, you need to get relevant inputs about your target audience too

• Determine who is buying from you already.
• Access analytics of your presence and performance on other social media platforms and learn who follow you there.
• Do thorough competitor analysis.
• Form a clear value statement for your offerings.

Once you know what to accomplish, see the goals and objective.

Follow the SMART framework while setting goals, i.e.,

S – Specific

M – Measurable

A – Attainable

R – Relevant, and

T- Timely

Once the SMART goals are set, next:

• Focus on performance metrics
• Prepare a regular posting schedule and stick to it
• Make use of Instagram analytics for business

Also Read: Achieve your social media marketing goals with these 4 strategies

Step #3: Optimize your business profile

Having a basic profile info like the personal account is not enough for Instagram Business. Optimize your profile information for the best results. Follow the below steps.

• Optimize the bio. Bio is 150 characters long, but it can make a real difference. Mention what your brand is all about, and you can also include a link in the bio.

• Try to convey your personality as casual, professional, or cheeky based on your business values

• Try to include some hashtags

• You can also try emojis at this limited-charters space to reflect your thoughts.

• Use line breaks and appropriate spacing to make the bio easily readable.

Optimize the profile picture, probably your logo

Ensure that your profile is complete and easily understandable.

Step #4: Share only top-quality content

You can create a visual aesthetic for the brand with quality content. As we know, Instagram is about visuals, so it is crucial to reflect on your visual identity here.

Plan as to what you have to showcase in your posts. In many cases, you can see that the content is obvious as fashion stores showcase their clothes and a restaurant post images of their dishes.

However, when you offer some services, you may showcase real customer stories, or some behind the scenes sneak peek to highlight the work culture, office life, etc. You may introduce your followers and fans to other people as well.

Maintain a consistent visual look on Instagram to get you easily recognized. Instagram works only if you post work good quality photos.

So, always ensure that you get the best quality photographs, which are custom edited by using proper filters for Instagram use. Try to keep it natural, but as stunning as possible.

Also Read: Content in local languages could lead to 24% rise in internet users

Step #5: Engage the audience and grow the following base

As we know, the success of social media promotions depends on the count of followers and their level of engagement with your posts. Social networking is all about community building.

In fact, a community which his relevant to any brand already exists on Instagram, and you have to simply find them and build. The best way is to engage with those who already follow the brands of your competition.

For this, you can keep track of the industry hashtags and then start commenting on the most appropriate Instagram posts.

Simply follow the people who participate in the discussions. This is the simplest way to make others notice your presence and generate their interest in your content.

As you start getting more involved in communities, you can start getting a sense of the right hashtags and gain insight on the right moves to make.

Once you reach up to this level, follow some consistent measures to keep in among the top.

• Use appropriate hashtags to make your content easy to find.
• Respond to all the user comments and mentions about your brand
• Try to work closely with Instagram influencers
• Try to promote your account on other media channels
• Make use of Instagram premium ads option to present yourself to a larger audience
• Run some Instagram-specific contests or campaigns

Most importantly, always keep track of the performance of your Instagram Business account with the use of the analytics tool.

You need to make ongoing adjustments in order to optimize your return on investment at Instagram.

Also Read: 10 Instagram tools to supercharge your marketing

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The initiative is the first result of the joint venture partnership signed in March 2019

Indonesia-based ride-hailing unicorn GOJEK announces that it has launched GOFLEET during the opening ceremony of automotive exhibition Gaikindo Indonesia International Auto Show (GIIAS) 2019.

GOFLEET is the first product of the joint venture between Astra and GOJEK, that was announced in March after Astra’s investment in the company a month prior.

It provides online door-to-door transportation services such as vehicle rent, maintenance, repair, insurance cover, and vehicle monetisation through on-vehicle advertisements for its driver-partners.

Meliza M. Rusli, President Director of GOFLEET added: “Realisation towards the importance of quality customer service has grown, including in the online door-to-door transportation service, both from the provider side and the user side. We hope that GOFLEET can help our driver-partners to focus on giving the best experience to customers without having to worry about their vehicles.”

Also Read: Grab launches green e-scooter GrabWheels in Indonesia’s top university

GOFLEET will roll out thousands of units for driver-partners in Greater Jakarta Area before expanding to other cities in Indonesia.

It is now open for registration for all driver-partners.

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Image Credit: GOFLEET

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Marketers and technology firms are incorporating innovative ways to harness its potential in the day to day work environment for improved business practices

AR-powered games brought a revolution to the digital world, taking it all to an entirely new level. With more sophistication and premium feel, it thrilled every gamer to the core.

While the researchers are trying to pull out graphics from any display device by removing all barriers and integrating them into a real-world environment, the perception of viewing things has completely changed. All because of Augmented Reality (AR), but what it really is and how does it impact different sectors of the society?

What is Augment Reality?

It is a combination of real and virtual (computer generated) worlds that superimpose real-world elements like text, images and sound.

It works extraordinarily!

It does not create an artificial environment but deploys virtual image over real-world objects. It overlays computer-generated videos onto inputs received from the camera. The imposition of virtual images over real-world objects creates an illusion that effectively engages users.

Its use has become more pervasive among a wide range of applications. Marketers and technology firms are incorporating innovative ways to harness its potential in the day to day work environment for improved business practices.

How is Augmented Reality benefitting numerous sectors of the economy?

1. It is redefining the retail market

With the increase in buyers and customers, the retailers are finding new ways to capture the attention of buyers. Through augmented reality, users can have an immersive and personalized shopping experience from any corner of the world.

AR-powered apps allow customers to have in-depth information about the product like reviews, price, comparison, brand and look & feel – to name a few. The animations can help the user understand how a product works or functions.

Hence, a thorough examination of the product can be done before purchasing, all at the convenience of a smartphone or tablet.

2. It is enhancing education

Although it’s not a new field, its application in the education industry is catching pace lately. Remember the old classrooms with blackboard and chalk. It’s not the case anymore. AR has changed the present education scenario. It is creating an opportunity for students to interact with the digitized environment enabling them to understand effectively.

Also read: 9 golden rules for marketing a retail business

AR has brought a change in education by enabling a 3D view of different objects, plants and organs which permits understanding in a comprehensive manner. It is immensely contributing to the education process by making learning joyful with the help of attractive 3D models. One of the old concepts was to teach kids by games. The same is being done by AR today. AR inculcate students in problem-solving, multi-modal thinking, teamwork etc which in turn helps in the faster development of their brain.

3. It is revolutionising healthcare

Medical students had to rely a lot on books for learning and understanding. Now, AR technology allows them to visualise various body parts and helps them understand the human body better. The technology innovations provide 3D printed devices, biosensors and trackers, convenient care and health at a reduced cost.

AR helps doctors to access the latest and relevant information about their patients. AR smart glasses have been made for people with low vision. AR has contributed to different components of the medical sector including ultrasound, surgeries, visualisation of bones, etc.

Surgeons can monitor and study vitals while performing surgery, reducing risk at operations. It gives quick access to real-time patient data that can save lives. AR helps in improved precision during operations and reducing medical errors.

4. AR makes the entertainment industry more attractive

Ease of accessibility to powerful smartphones has led to a convergence of virtual reality and augmented reality. However, their application is not limited to gaming but to all forms of entertainment. AR is being extensively used in motion pictures, television and other media promotional activities. The science fiction technology is a reality now and has applications broadened beyond the gaming industry. The number of applications in this space is rapidly growing.

It presents limitless boundaries for creators to substantiate their creativity, which provides a valuable experience to the users.

5. It makes travelling more fun

Travel guides are past now. AR-powered apps allow travellers to gain information about places in a detailed and structured format by simply scanning the surroundings. They even help in recognizing nearby restaurants and hotels with their reviews, public transport options, directions to other tourist spots through interactive maps and more.

Also read: 4 trends shaping the travel startup ecosystem

6. Augmented reality impacts Military

Through AR, live training can be provided to soldiers to achieve a high level of warfighting readiness. The advanced development program helps to train soldiers for Armory, infantry and aviation. It helps soldiers visualize complex operational environment and prepares them to deal with such scenarios- mentally, physically and emotionally.

AR technology provides integrated GPS information and geo-registration which helps soldiers to know exactly where they are in any situation. The high-tech 3D maps help in tracking, navigation and reporting real-time information.

Locating enemies is never easy in a battle. AR technology is used to create eye equipment night vision glasses. These are handy for soldiers to fight even when the sun is down.

Conclusion

Augment reality is changing the way we see the world. Its purview is no longer restricted to mobile applications and games but has extended beyond. Businesses need to harness the immense potential of this amazing technology in varied industries including retail shopping, education, military, logistics, travel, healthcare and more. With augmented reality, a simple task of walking or driving down the street might not remain the same anymore. Viewers will have the privilege to see a new and more informative world, everywhere they look around, through their smart gadgets.

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This article was first published on e27 on October 30, 2018.

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Can your startup function effectively in a global environment?

It is virtually every company’s goal to go global, but doing so entails a multitude of challenges. Before you decide to expand your startup business internationally, you need to ascertain that your business is ready for it.

How do you know if your business is prepared for the challenges of operating on an international level? What are the indicators to watch out for? The following are three essential details you need to know.

Inherently global nature of business

Check if your business can already be operated internationally without requiring major investments or capital outlay, extensive market studies, and product changes.

Some businesses are already meant to go global from the get-go. These are startups that can serve customers internationally because they don’t have the logistical and operational requirements most other businesses need to deal with to be able to serve clients in various foreign markets. In particular, they exhibit the following characteristics:

• Being able to conduct most business activities online
• Not much difference serving local and global customers
• No need for establishing a clear local market presence or business network
• No necessity for putting up physical bases of operations in the new target markets abroad
• Offering a product that does not require major modification to be viable in other parts of the world

One good example of a business that exhibits the aforementioned attributes is online content creation. Publishing articles, videos, and other content on the web for monetization or to attract direct advertisers neither requires the establishment of solid local business presence nor a base of operation abroad.

Almost all aspects of it can be conducted online. Even the employees can be web-based, with teleworkers hired in different countries to take advantage of their localized viewpoints and expertise in developing content deemed suitable in their respective regions.

Another excellent example is the business of selling or monetizing mobile apps or software in general. These apps don’t have a physical presence and can be sold to users online through the official Android or iOS app stores or through websites and online ads. All transactions can be undertaken online even with the freemium model, wherein apps are offered for free but users are given the option to buy items or upgrades within the app.

Also Read: Business scaling 101: What is scaling and how to scale

In these businesses, there’s no significant difference in offering the products locally or internationally. It would even be counterproductive to limit the sales to local customers. Additionally, the products have potential demand in various locations worldwide. They don’t need to undergo major changes to be useful to international customers except maybe when it comes to the language.

Localization may be needed to make products more appealing to target customers in certain foreign markets. This is not going to be a major problem, though, as it’s not difficult to find localization solution providers. You can even find companies that provide global marketing services to help with the promotion of the products in different markets. You just have to make sure that you are choosing a reputable and experienced language service provider to handle the localization of your products and marketing campaign.

Other startup businesses that can be operated internationally right from the start include service-based ones such as those that offer search engine optimization (SEO), web development, creative work, marketing, digital asset sales, accounting or bookkeeping, and online publishing services.

There are also niche stores that can be started as an international operation with most of the transactions conducted online. A store that offers salt-powered (no traditional battery or power source) LED emergency lights, for example, can easily find customers abroad. Typical online stores that sell the usual items being sold online may also be able to find customers in foreign markets but not with the same chances of success as those of niche stores.

And of course, in case you forget the obvious, export/import businesses are international in nature right from the start. It would be totally illogical for an export business to be locally-bound.

Abundance of resources

Find out if you have enough funds, expertise, experience, and skilled people to sustain a venture into the international market.

If your business does not possess the characteristics mentioned above, you need to establish your business locally first before you can plan for a global expansion. The main reason for this is to have enough resources.

Resources here, by the way, don’t only refer to money. Indeed, funding is vital in pursuing an international expansion, but it’s not the only resource you need.

You also have to accumulate adequate experience and insights into how the business would work in other markets – all of which are achieved by operating the business locally for a good amount of time and conducting market studies. As the business gains experience and insights, its employees (human resources) are also developed to become ready for advanced roles when conducting business on an international scale.

Also Read: Don’t let these project management blunders derail your business growth

There are no standards as to how much cash or liquid assets, expertise, and employee skills a business should have to say that it is ready to go global.

One study by Crane found that more than 50 per cent of SaaS companies averaged more than US$10 million in revenues before they decided to expand to foreign markets, and it took them around 5.5 years on average before pursuing a new market. These details rarely apply to other businesses, though.

The decision to expand internationally with regards to the level of resources available can’t be based on benchmarks or industry averages. The management has to evaluate everything prudently to decide if the business has enough to have reasonable chances of succeeding in the international market.

High demand in foreign markets

Determine if there is compelling demand for your products in new markets.

Sometimes, your business resources may not be the deciding factor in proceeding with a business expansion. It could be the demand in foreign markets. Consider these:

• You may have an abundance of financial resources, skilled people, expertise, market intelligence, and other resources, but there is no demand for your products abroad.
• You may not have enough resources to enable a less-risky international expansion, but there is immense demand for your products abroad.

Also Read: How to improve your startup management

In these cases, demand becomes the more important factor. If you don’t have enough resources, you can find ways to make up for it. You can accept additional investments, consider crowdfunding, or forge business partnerships to gather the resources needed to pursue highly feasible opportunities abroad. You would be willing to take risks in the presence of persuasive potential rewards.

Conclusion

Essentially, the three ways in determining if a startup business is ready for the international market can be summarized by the following questions:

• Is your business inherently international in nature?
• Do you have enough resources to support the expansion?
• Is there compelling demand for your products in the global market?

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The new age of virtual banks and how it can be more future ready

Progressive regulation is creating open and collaborative ecosystems with both banks and customers moving up the technology maturity scale.

With customer sentiment ripe for a new way of banking, virtual banks need to grow at scale, leveraging open, cloud-based platforms.

While a perfect storm supporting the growth of virtual banks is brewing, success is not guaranteed unless new banks are able to transform into data-driven, high-performing profitable organisations.

Exceeding customer’s expectations consistently across financial lifecycle

 

Virtual banks have done globally well in the on-boarding process but must prove themselves across the financial lifecycle as they expand into more complex product areas such as SME banking, mortgages, and business banking.

A global survey conducted by Oracle showed that existing customers of traditional incumbent banks are ready for churn not at the beginning of the lifecycle but when more complexity appears in the relationship.  This is where the rubber meets the road.

Virtual banks need to have a nimble, friction-free approach across processes, and an ability to act on customer data insights to elevate the overall service experience.

Also Read: These tech companies are eyeing for Singapore’s digital banking license

Critical aspects of running a virtual bank

1. Using data as a core asset across business

Virtual banks can leverage data insights via agile technology stacks to offer the customer unique  personalisation.

To grow market share and reduce churn, it is critical to implement an analytical architecture and automate using artificial intelligence and machine learning.

To ensure long-term profitability, data-driven tools should be used to optimize on capital allocation, customer data management and to mitigate risks.

2. Enable the strategic role of CFOs & customer-facing teams

CFOs have increased responsibility for providing data-driven business enablement.

A research by Oracle and Asia Risk shows that 66% of global banking executives consider aligning financial performance and risk data very important or critical to success.

A common analytics platform helps give a real-time picture of a bank’s business and aligns finance, risk and performance management strategies under the same data-decisioning engine and platform.

3. Enable regulatory & finance crime compliance

Anti-Money Laundering (AML) technologies like graph analytics and machine learning, applied to histories of transactional data, can help virtual banks curtail criminal flows of capital that put their customers at risk.

With the ever increasingly complex business and regulatory landscape, virtual banks need to make use of Know Your Customer (KYC), risk or compliance data associated with running a new bank to gain business insight.

4. Drive ecosystems partnerships

The ability to tie up options for eCommerce, transport, lifestyle and payment all in one seamless digital banking experience is critical.

Oracle is enabling virtual banks to jumpstart such initiatives with more than 1,600 ready to deploy Oracle Banking APIs.

Virtual banks can scale and react with speed and agility to incorporate new products and processes onto their platform and easily connect with third-party products — offering more choices to the end user.

Also Read:Will Hong Kong top Singapore in fintech innovations this year?

The new wave of virtual banks will need to journey through different stages of ongoing adaptation in the bid for growth and profitability, greater customer traction and market share.

Oracle is assisting banks in redesigning the customer journey – right from the API strategy, front-end customer-facing applications to the back-end rails of modern and digital core platforms.

The result is  enhanced digital services that boost customer value and understanding of their needs more deeply across the financial lifecycle. 

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KineticOne is meant for startups in the logistics and supply chain spaces and mainly acts as a deal sourcing unit for VC firm Mount Parker

KineticOne, an accelerator launched recently by Hong Kong-based seed-stage VC investor Mount Parker Ventures, has announced the names of five startups who have graduated from its one-day intensive programme.

KineticOne, which is meant for startups in the logistics and supply chain spaces, mainly acts as a deal sourcing unit for Mount Parker, which has invested in several startups including Gogovan.

Unlike a typical accelerator programme which primarily focuses on the startup pitch (which usually takes about half the time in an accelerator), KineticOne works with the startups to set their core business model, establish their internal tracking metrics, and help them on customer development.

Below is a brief profile of the five ventures:

BookAirfreight

Based out of Hong Kong, BookAirfreight.com brings convenience and price transparency to air cargo shipments. Its online booking engine automatically connects SMEs directly with air freight forwarders eliminating the cost and inefficiency of third-party brokers.

Rice Robotics

Rice Robotics is innovating in the last-mile delivery space. Its robot reduces the ‘last 50 metre’ delivery expense by accepting deliveries from carriers at the building entrance and delivering them to the recipients.

Anapi

Singapore-based Anapi provides new forms of insurance solutions to the logistics industry. E-commerce has created new categories of uncertainties and and insurance is unsuited to high frequency, low value claims. Anapi fills this void with its AI-powered tools for self-insurance and risk mitigation.

Haulio

Haulio, also based in Singapore, targets the inefficient haulage market where over half of trips are made carrying no cargo. Its SaaS product helps haulage companies manage their fleet and its marketplace matches spare capacity with loads.

ParcelPerform

Singapore-based ParcelPerform tackles the issue of data fragmentation across numerous carriers. Its solution allows customers full and granular insight into the location and delivery status of their package, as well as providing merchants with customer service tools.

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Here’s how co-working spaces is changing the future of work culture

A couple of years ago, a quick glance at a co-working space would have given you a good idea of the people who work there.

The low seating, cushy beanbags, foosball tables, and readily available cold brew coffee (and maybe even beer) would tell you that the users were young — think – tech entrepreneurs, designers or creative types.

Walk into a co-working space now, and you’ll notice a few differences. The beanbags are mixed with other ergonomic chairs with adequate lumbar support.

The game room will be complemented with a mothers’ room. The cafeteria will likely serve a variety of food and beverage options to cater to different dietary needs.

If this makes you think that co-working spaces have diversified, you’d be right. The people occupying these spaces are no longer exclusively tech-savvy millennials in creative fields.

Diversity

Today, many older employees are switching gears into their careers or are launching a company backed by decades of experience in the corporate sphere.

A lot of older professionals also continue to work after retirement, with consulting roles and short-term projects. In fact, a study of co-working spaces by Statista showed that the number of people aged 60 and above quadrupled between 2016 to 2017.

On the other hand, thanks to the new wave of university-operated co-working spaces, it is not unusual to see students using these spaces to do their homework or network with industry professionals.

Also Read: We checked out 6 of the best co-working spaces in Beijing, so you dont have to

The companies operating out of these workspaces are no longer limited to tech and design startups either.

More traditional industries like banking and finance are making the move to co-working spaces, as are big multinational firms.

For instance, Garage Society in Hong Kong fosters a strong ecosystem for investors and venture capitalists as well. Given the sensitive nature of their data and discussions, its co-working space at Beverly House Wan Chai dedicates an entire floor outfitted with private suites and acoustic meeting rooms to these professionals.

Meeting the needs of the community

Modern co-working spaces today don’t just cater to the professional requirements of their members. As the ecosystem becomes more diverse, there arises a need to build a community, create a sense of belonging and foster camaraderie amongst people. Co-working spaces today are evolving to meet these needs.

Life in urban cities can sometimes be isolating, especially for those who have just moved to a new city and do not have a wide social circle already. Some co-working offices are specifically designed to fill this social and cultural gap.

Conceived as a space that would spark conversations, social club 1880, in Singapore encourages people to relax over food, beverages and music, and debate over issues that are close to their hearts.

Also Read:This co-working space tackles the number one problem working moms face: Guilt

It functions as a lounge, a café, a cocktail bar, a restaurant — and a co-working space for those times when a conversation leads to a brilliant new startup idea or fosters an exciting partnership.

Eaton Club, a similar hybrid workspace in Hong Kong, functions as a social fintech work hub. Complete with a bar and a pantry, it allows members to host meetings over coffee or beer, or entertain a client in style.

Operating from co-working spaces with a well-curated culture actually proves to be beneficial for companies. A study by Harvard Business Review noted that firms largely experienced positive outcomes when working from a co-working space whose culture and work environment align closely to their own.

By 2022, the number of co-working spaces is set to reach 25,968 — a massive 42 per cent increase from 2019. In fact, since 2015, an average of 2,595 new co-working spaces have been set up each year.

In a thriving community such as this, the need for equal opportunities also becomes a pressing requirement — and modern co-working spaces are addressing that too.

For instance, the women-only co-working space Wsquare in Chennai works to support female entrepreneurs in India.

Apart from wellness-led facilities like yoga and life coaching sessions, it also helps ease the mental load when it comes to things like domestic chores and administrative tasks.

From getting chopped vegetables and home-cooked meals delivered to hosting job fairs that help women re-enter the workforce after a maternity break, Wsquare tackles the hurdles that stand in the way of professional success for women.

Also Read:Co-working space chain EV Hive raises US$20M in Series A, will expand to Southeast Asia

Giving back to the community

Co-working spaces are not just at the heart of building community — they function as a hub for those looking to give back to society as well.

Some co-working offices like Impact Hub are designed especially for social entrepreneurs and innovators looking to make a positive change in the world.

Others are home to local activists and non-profit organisations who are passionate about community causes.

Unlike the glitz and glamour of corporate co-working offices, these spaces take a more holistic approach. Take XPACE, for instance, which is opening in Singapore later this year.

Spearheaded by Nichol Ng from The Food Bank Singapore XPACE is a co-working concept centred around food. Designed with all-natural materials, equipped with sustainable furniture and furnished with fittings sourced from small, local manufacturers, the design espouses the authenticity and integrity of the space.

As a community hub, co-working spaces like these allow entrepreneurs to provide mutual support for each other, and connect with mentors and investors who can help realise their goals and ambitions.

Beyond business, economic hubs offer social opportunities to get information and gather together for debates and discussions.

There was a time when marketplaces used to function as the economic and social hub of a community.

As times change, universities and cafés took over this role. Today, with the way co-working spaces have evolved, it is not unreasonable to think of them as the newest social hubs — or indeed, the beating heart of a community.

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A guide to understanding and entering cloud mining

If you’re looking to enter the cryptocurrency industry, then there are two ways that you can get this done; you can go to an exchange to get your tokens, or you can make them.

The “making” process has been described as mining, and it can be broken down into two general parts; purchases and cloud mining.

In a nutshell, these are the two most popular ways through which a person can get into the mining game. So, let’s take a look at both.

Also Read: LINE launches cryptocurrency and blockchain network

The ASIC software

If you will want to mine pretty much any of the major cryptocurrencies (including and especially Bitcoin) these days, it is important that you become a part of a mining pool and get your hands on ASIC (application-specific integrated circuit) mining software.

This is even truer if you will like to mine and lose as little cash as possible on your operation.

As things stand, the ASIC hardware is preferred because they are the only form of hardware that has the power required to mine most of the major crypto assets.

In addition, you will need to join a pool because no single person can muster up enough hash power to mine a complete block of currencies on their own.

A lot of people who look to mine as a hobby tend to use GPUs or CPUs today. The requirement to join a mining pool is still there, but this method has proven to be ineffective over time.

With an ASIC (or hardware with just as much power), you have a higher chance of making a profit on your mining operation.

Also, energy costs need to be factored in because in some areas of the world, the cost of energy is too high, and this can impact the profits you make off your mining operation.

Cloud mining

Well, that solution is the most likely what you get with cloud mining.

In its simplest form, cloud mining is the activity of mining your tokens with the help of the cloud. It is the use of generally shared processing power, which comes from remote data centres.

Also Read: Mudrex helps crypto traders automate their trading on multiple exchanges without writing code

Cloud mining has the following things going for it:

Better effects on the environment: You can run a cloud mining operation from your home without any inconvenience. There is no heat, and you don’t need to get any fans to keep your systems from overheating, so there’s no noise.

Cost-effectiveness: Also, cloud mining doesn’t need to be a pain on your bill, because you won’t have to pay any additional electricity costs. There is also a lesser chance of being disappointed by any suppliers of mining equipment.

As for the cons of cloud mining, well, they’re quite manageable. As a matter of fact, the most significant con that cloud mining has is the fact that you might not get as much profit from it as you will get with using a fully-formed mining systems.

Also, profits are lower because the operators of these data centres might tend to take their cut of the tokens mined; keep in mind that they have to make money to maintain their system as well.

The most popular forms of cloud mining are the following:

Hosted mining: With hosted cloud mining, you get to lease a mining system that is hosted by your service provider.

Virtual hosted mining: Under this cloud mining form, you get to create a virtual private server, then have your mining software installed on the server.

Leased hashing power: This just might be the most interesting form of cloud mining. Here, you lease an amount of hashing power. It is especially innovative because, with it, you don’t have to rely on the use of a special virtual or physical computer.

Now, if the concept of cloud mining seems enticing to you, then you should definitely check out CryptoUniverse.

The entire CryptoUniverse ecosystem began as merely a “side hustle.”

Three business partners became interested in cryptocurrencies as far back as in 2015, and they began buying up digital assets and learning more about the dynamics of POW mining and crypto assets themselves.

Also Read: Why it makes sense to do business in cryptocurrency

Before long, they were able to open up a fully functional, state of the art mining farm and all the equipment that they needed to mine at a certain scale at the time.

By 2017, CryptoUniverse LLC. was established and the company has continued to grow in leaps and bounds ever since then.

Currently, CryptoUniverse boasts one of the strongest and most stable mining solutions in the entire world.

Particularly, they provide two major services; cloud mining, and sales of mining equipment (as well as complimentary installation services as well).

With a network of well over 30 thousand clients, things are looking up for the company, they have been able to build their services to help them with proper scaling.

CryptoUniverse provides mining equipment, as well as a state-of-the-art cloud mining service.

With their suite of offerings, you can rest assure that your mining operations will be profitable and easy to manage.

As things stand, CryptoUniverse maintains one of the most stable pricing structures in the world.

Their prices are reliable, and they make payments on time, regardless of whether you’re running a cloud mining service or if you are mining tokens on your own.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

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