Dear reader,

Elon Musk’s AI startup, xAI, has secured a monumental US$6 billion in Series B funding from Valor Equity Partners, Vy Capital, and Andreessen Horowitz, marking a significant milestone for the company founded in July 2023.

This capital infusion, following a report of a potential US$6.5 billion round, will enable xAI to advance its infrastructure and product lineup. xAI’s flagship product, Grok, a rival to ChatGPT, is now open-source, emphasising Musk’s commitment to “truth-seeking” AI technology.

This move sets xAI apart from competitors like Alphabet and Microsoft-backed OpenAI. Notably, Musk has also legally challenged OpenAI for straying from its original open-source mission.

The fresh funding position xAI among elite startups attracting substantial investment, mirroring recent significant raises like Alibaba’s US$1 billion investment in Moonshot AI and Alpha Intelligence Capital’s US$250 million fund.

xAI’s upcoming product announcements are highly anticipated, promising to further disrupt the AI landscape.

Sainul,
Editor.

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NEWS

Musk’s startup xAI nets US$6B to take on rivals like OpenAI
The investors include Valor Equity Partners, Vy Capital, and Andreessen Horowitz; xAI has developed Grok, a ChatGPT rival powered partly by data from X; The AI startup has now made the Grok-1 model open-source to spur further improvements.

aCommerce cut net loss by half, grew revenue 18% in 2023
The Thai e-commerce enabler posted a total revenue of US$200M for 2023; Meanwhile, its net loss narrowed by 54.9% to US$4.6M during the same period even though the company increased its total expenses by 14%.

Prominent ByteDance investor preps new US$300M AI-centered fund
Source Code Capital, founded by former Sequoia China investor Cao Yi, holds roughly US$5B across its yuan and dollar funds; Aside from ByteDance, it has also invested in the likes of food delivery platform Meituan and electric scooter manufacturer Niu.

Google to invest US$350M in India’s Flipkart, valuing co at US$37B
Flipkart has been a source of IPO speculation since Walmart took over the company, which competes with Amazon.com in India; Earlier this month, executives at Walmart said they are “looking and exploring” for the right time for Flipkart’s IPO.

AVPN, Google.org launch US$15M fund to equip workers in APAC with AI skills
The AI Opportunity Fund will identify and select non-profits and social enterprises that reach out to the workers impacted by the workforce transitions caused by AI.

India’s Zypp Electric nets US$15M to expand EV fleet
Japan’s Eneos led the Series C round; Zypp aims to make last-mile delivery sustainable and emission-free through its fleet of 21K electric scooters; The electric-vehicle-as-a-service provider aims to raise US$50M in total for the round.

Y Combinator’s Garry Tan supports some AI regulation but warns against AI monopolies
Tan said he was “overall supportive” of the National Institute of Standards and Technology (NIST) attempt to construct a GenAI risk mitigation framework.

Gate.io arm shelves HK crypto license application amid regulatory hurdles
It’s now the third firm tied to a global exchange to back out from the market’s rigorous regulations; Consequently, Gate.HK has paused new user registrations, deposits, and promotions in Hong Kong.

Vietnam’s proptech startup WeSale bags seed capital from Hitseries CapitalHitseries Capital
WeSale is proptech platform connecting partners, individuals and organisations to project owners and developers; The startup will use the money to develop and upgrade the platform, expand markets and develop new products and services.

FEATURES

Pixlr can transform classrooms into creative studios: CEO Warren Leow
The Pixlr platform’s suite of AI-driven tools allows creative exploration and experimentation, fostering an engaging learning environment.

Southeast Asia startups secure funding for logistics, anime, sustainability and more!
This funding spree highlights the diverse and promising startup ecosystem in Southeast Asia.

FROM OUR CONTRIBUTORS

Optimising collaboration with security: A guide to protecting your business data
Proactive measures can minimise cybersecurity risks, creating a safer environment for your team’s productivity and communication.

Asia’s role in climate change: Risks, rewards, and the road to net-zero
As a region that is rich in natural, human, and technological capital, Asia is well poised for a net-zero future.

Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles
When investors express interest in the electric vehicle sector, it’s essential to understand precisely where they are directing their investments.

FROM THE ARCHIVES

These 7 tech titans are empowering your business with reliable cloud services
The popularity of cloud services stems from various factors, including cost-effectiveness, flexibility, and scalability.

The essentials of mapping a customer journey across digital assets
For a digital platform, optimising the customer journey is the key to extracting the maximum value out of them.

A paradigm shift on the Z axis: How Gen Z is shaping the new work culture
Gen Z, armed with digital prowess and a vision for a brighter future, is forging new paths by prioritising personal happiness over tradition.

Building trust through partnership: How collaboration enhances reputation
Building your client base directly is one of the primary ways in which a strategic collaboration may help your company expand.

If there is one thing investors are afraid of, it is lack of commitment from founders
Many startup founders treat their venture like an egg: if this one fails, they’ll go hatch another.

Women and AI: How startups can prevent gender bias and promote responsible use of the tech
Gender bias within AI is quite a complex topic in and of itself, but startups can play a more active role in preventing that.

Sustaining the work: How businesses can take a step forward in their move towards net zero
As tackling the impact of climate change becomes more urgent, the next critical decade must focus on pathways.

The post Ecosystem Roundup: Musk’s startup xAI raises US$6B | APAC gets new US$15M fund to equip workers with AI skills appeared first on e27.

Over the past three months, we’ve welcomed over 450,000 users from around the world. For many of you, the homepage is your first stop, and we want to make that first impression count. We’ve listened to your feedback and worked hard to enhance the platform.

Our goal is to provide a seamless and engaging experience, whether you’re diving into insightful articles, exploring innovative startups, connecting with potential investors, or browsing new job opportunities. We believe these updates will make your time on e27 even more enjoyable and productive.

As we continue to grow and support individual contributors, startups, investors, and other key players in the ecosystem, it’s essential to provide a platform that showcases their work effectively. With this latest update, we’ve focused on improving the visibility and accessibility of content, making it easier for our global audience to discover and engage with valuable information. From company profiles to job listings and events, we’ve streamlined the way you find what you’re looking for, ensuring you never miss out on important updates and opportunities.

Also Read: Introducing the new Contributor Dashboard: A streamlined approach to article management, monitoring, sharing, and writing

Let’s walk you through the new features and improvements:

Redesigned top contributor sidebar

Our contributors are essential to the e27 community, sharing their insights and expertise. To better showcase their work, we’ve revamped the top contributors sidebar. Now, you’ll see a clearer display of our most popular contributors and their latest articles.

Easy-to-read featured and latest posts

Finding great content is now simpler with our improved featured posts and the latest post sections. We’ve made headlines more readable with better fonts and provided concise, informative snippets so you can get a quick preview of each article.

Quick way to discover investors and startups

We’ve redesigned the investors and startups widgets to help you quickly find new and exciting profiles. With detailed information and quick filters, you can easily browse through investor and startup cards. Plus, you can connect directly from the cards themselves. For a deeper dive, our investor and startup databases are just a click away.

Convenient way to check the latest events and jobs

Our new jobs and events widgets make it easy to find what’s happening. We’ve added detailed info and quick filters to help you sort through the latest listings. You can register for events or apply for jobs directly from the cards. Companies can also easily add their own events and jobs through direct links.

New spotlight for e27 partner events and programs

To highlight our partner events and programs, we’ve created a new carousel widget. This easy-to-navigate feature lets you explore our latest partnerships and participate in exciting opportunities.

These updates are all about giving you a smoother, more intuitive user experience with a consistent and responsive design.

Check out our revamped homepage and see the improvements for yourself.

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Image credit: e27

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As the tech industry continues to expand, so does its environmental impact. From data centres consuming massive amounts of energy to the electronic waste generated by obsolete hardware, the carbon footprint of our digital lives is significant. However, the principles of DevSecOps — integrating security and operations into development processes — can be harnessed not just for efficiency and security but also for sustainability.

This article explores how DevSecOps can contribute to environmental sustainability, practical steps for implementing green practices in daily work, and case studies of companies that are leading the way in sustainable DevSecOps.

How DevSecOps can contribute to environmental sustainability

• Optimising resource usage
  • Infrastructure as Code (IaC): By using IaC, teams can automate the provisioning of resources, ensuring they only use what they need. This reduces the likelihood of over-provisioning, which often leads to unnecessary energy consumption.
  • Containerisation: Containers are more efficient than traditional virtual machines because they share the host system’s kernel. This means they require less overhead, leading to reduced energy usage.
• Efficient code practices
  • Code optimisation: Writing efficient code can reduce the processing power required to run applications. This not only speeds up performance but also decreases energy consumption.
  • Automated testing: Continuous Integration/Continuous Deployment (CI/CD) pipelines that include automated testing can ensure that only code meeting certain efficiency standards gets deployed, preventing resource wastage.
• Data management
  • Data minimisation: Reducing the amount of data stored and processed lowers the energy required for storage and computation. Implementing data lifecycle management helps in deleting unnecessary data.
  • Energy-efficient algorithms: Choosing algorithms that require less computational power can significantly cut down energy usage, especially in data-intensive applications.

Implementing green practices in your daily work

• Adopt cloud-native solutions
  • Serverless architectures: Use serverless computing to automatically scale resources based on demand. This ensures that you only use the resources needed at any given time.
  • Green cloud providers: Choose cloud providers that prioritise renewable energy sources and have strong sustainability commitments. Providers like Google Cloud and AWS have initiatives to reduce their carbon footprint.
• Optimise CI/CD pipelines
  • Pipeline efficiency: Streamline CI/CD pipelines to minimise the number of redundant processes and tests, reducing the overall computational load.
  • Scheduled builds: Instead of running builds continuously, schedule them during off-peak hours when energy consumption is lower or batch them to reduce frequency.

Also Read: ESG frameworks and standards: Cutting through the complexity for private markets

• Energy-efficient development environments
  • Virtualisation: Use lightweight virtual environments instead of resource-heavy local machines for development and testing.
  • Remote work policies: Encourage remote work to reduce commuting emissions and utilise energy-efficient home office setups.

Case studies of companies leading the way in sustainable DevSecOps

• Google Cloud
  • Carbon-neutral data centres: Google Cloud has achieved carbon neutrality and aims to run on 24/7 carbon-free energy by 2030. Their data centres use advanced cooling techniques and AI-driven optimisation to minimise energy use.
  • Sustainable software development: Google promotes practices such as optimising code for energy efficiency and reducing the computational cost of applications.
• Microsoft Azure
  • AI for Earth: Microsoft’s AI for Earth program supports projects that use AI to solve global environmental challenges. Azure also operates with a commitment to be carbon-negative by 2030.
  • Green software engineering: Microsoft encourages the use of principles from the Green Software Engineering community, which focuses on reducing carbon emissions through software design and deployment.
• Salesforce
  • Sustainable development goals: Salesforce has integrated sustainability into its core values, committing to net-zero emissions across its value chain and 100% renewable energy for its global operations.
  • Eco-friendly DevOps practices: They utilise efficient data centre operations, promote the use of energy-efficient coding practices, and engage in regular sustainability audits to ensure ongoing improvements.

Final thoughts

Incorporating sustainability into DevSecOps practices is not just beneficial for the environment but also for business efficiency and innovation. By optimising resource usage, adopting green development practices, and learning from companies that are leading in sustainability, DevSecOps teams can significantly reduce their digital footprint.

As we move towards a more eco-conscious future, the integration of sustainability into every aspect of technology, including DevSecOps, will be crucial in driving long-term environmental change.

By adopting these practices, not only do we contribute to a healthier planet, but we also pave the way for a more sustainable and efficient technological landscape.

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

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

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Kipin was recently recognised in TIME Magazine’s World’s Top EdTech Companies 2024, a list of 250 shortlisted global edutech startups. Working with Statista, the list was based on a formula evaluating financial strength and industry impact. Kipin was the only Indonesian edutech startup shortlisted and was ranked sixth in Southeast Asia.

In an email interview with e27, Steffina Yuli, the Chief Business Officer of Kipin, explains the company’s mission and the solutions it provides for students in Indonesia.

Kipin enables schools, teachers, and students to implement digital school digitalisation at all education levels anywhere in Indonesia, whether in urban, rural, or remote areas with no internet access. One of its solutions is Kipin Classroom, which can operate in a hybrid (online and offline) manner.

Apart from offering study materials such as textbooks, video lessons, tryout exercises, and literacy comics for elementary to vocational levels, Kipin School features a unique offline-online exam system.

“Compared to traditional alternatives, our platform is highly scalable, seeing five times growth in the past year and can be used even in areas with limited internet connectivity. Additionally, we are fully aligned with the Ministry of Education’s curriculum and provide the content required for daily curriculum learning,” she says, adding that pilots have shown over 65 per cent increase in reading and writing scores.

Also Read: From gold rush jeans to digital skills: Edutech’s Levi Strauss moment

In developing their solutions, Kipin consulted over 300 teachers, educators, and school administrators, centering their product development process around user feedback and continuous improvement.

“We start by identifying the key challenges faced by students and educators through extensive research and immersion in schools. Our development team then collaborates to design and prototype solutions that address these challenges, deploy them in our pilot schools and iterate on them to ensure they really work. Each iteration is thoroughly tested in real classroom environments to ensure it meets the needs of both students and teachers,” she says.

In the recent years, since the appointment of former Gojek CEO Nadiem Makarim as Minister of Education, Indonesia has been pushing for the digitalisation of its education system, starting with the founding of initiatives such as GovTech Edu.

Kipin’s solutions are designed to integrate seamlessly with the national curriculum, providing digital versions of government-approved textbooks and learning materials.

“By offering these resources in a digital format, we help schools transition smoothly from traditional to digital learning environments. We are one of the official partners of the Ministry of Education as well as the Ministry of Communications. We believe that private sector, Indonesia-made solutions can have a powerful role in supporting government efforts to increase digital education and standards nationwide.”

It operates in B2B business model of selling products and services to schools, governments, and large corporations or non-profits that fund schools.

Also Read: Nagoya University: Asia’s extensive network of innovation, research, and education

In reaching out to their potential users, Kipin actively engages with Indonesian teachers through platforms such as YouTube. It also runs a teachers ambassador programme (DuKi) where young teachers learn about digital education and gain certification; it has produced 1,200 graduates.

The company works with foundations such Tanoto Foundation and Octava Foundation and have represented Indonesia at the Y20 Summit 2023 and the Global World Summit Awards Winner in Learning & Education.

Expanding across the archipelago

Kipin is run by a team of over 50 dedicated professionals that include business development, educators, software developers, content creators, and support staff.

It has raised undisclosed funding from venture capital firms and angel investors which has supported the acceleration of its product development and user acquisition.

“Looking ahead, we do have plans to raise additional funds to scale our operations further and enhance our product offerings. We are actively exploring partnerships with investors who share our commitment to making a positive impact in the education sector.”

This year, Kipin aims to further expand its reach in Indonesia.

“We aim to expand our school network and enhance our platform with additional features such as AI-driven personalised learning paths and more interactive content to further engage students,” she says.

“We also plan to establish partnerships with more educational institutions and government bodies to support the national digitalisation agenda towards Indonesia Emas 2045. We believe that quality education is everyone’s responsibility – and with the help of our partners, governments, and companies – we can achieve a better and more equal education for all.”

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Image Credit: Kipin

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Nonprofits, charities and non-governmental organisations face a multitude of challenges that require agility, digital innovation and resilience to navigate effectively. From the accelerating pace of technological change to fundraising uncertainty, nonprofits must reconsider adopting new strategies in order to respond to the increasing demands of the communities they serve and support. 

These impact-focused organisations are responsible for finding solutions for some of the toughest challenges we face in society today. From addressing poverty to environmental protection and supporting vulnerable communities in need, it is these organisations that need the tools that improve capabilities the most.

It has become more difficult to protect from cyber security risks, increasing costs of conducting business, seeking new sources of funding, and responding to the demand for more transparency and accountability. 

Digital transformation and innovation can help organisations make accessible optimisations to amplify the impact of the causes they support. 

Here are three examples of nonprofits adapting new strategies this year — we hope these inspire new ideas for your organisation to generate more impact.

Segmenting fundraising and communications strategies in a digital world 

One organisation exemplifying the transformative power of new strategies via technology is Indonesian-based Alam Sehat Lestari (ASRI). Dedicated to identifying new ways to encourage landscape reforestation, ASRI has built a unique incentive mechanism in local Indonesian communities. 

The organisation identified that extreme poverty, inadequate healthcare accessibility and limited livelihood options compelled individuals to resort to illegal logging, exacerbating deforestation. ASRI collaborates with governments and local community members to provide vital health services in exchange for a commitment to reforest landscapes. For example, locals can contribute tree seedlings instead of cash payments for health services. 

Also Read: Asia’s role in climate change: Risks, rewards, and the road to net-zero

In 2023, ASRI collected more than 150,000 seedlings from medical payments, forest “guardians”, and partners, nurturing seedlings in nurseries before planting them in degraded forests. However, many of ASRI’s reforestation projects have come to a standstill due to tighter budgets, restricted project funding allocations and a reduced capability of donors to donate.  

Funding is often allocated for specific projects, making it difficult for organisations like ASRI to continue their work. The team’s total reforestation target was 52 hectares, but a reduction in income meant that the organisation now only has the capacity to reforest 10. 

“It’s so important for us to diversify our income sources – not just from grants, but identifying other sources. We never know when a donor might cut off their support – this makes it difficult for us to run our activities, and we’re forced to seek new avenues for donations,” shared Febri, Director of Resource Mobilisation of ASRI. 

Evita, Grant and Partnership Manager of ASRI, shared the need to communicate the importance of donating to operational funding. 

“It is also difficult for us to get funds for operational costs. Many donors just want to fund the key and eye-catching projects but forget that operational funding is very important to support the success of all projects,” said Evita. 

To respond, ASRI built out a digital communications and fundraising strategy with segmented goals and targets to bring in new funding. Avenues include crowdfunding campaigns, coordinating events with advisors and supporters, reaching new and existing donors via digital marketing campaigns through social media and email marketing, and identifying at least 10 new grant opportunities to diversify income. 

By expanding their communications efforts to bring funding in for operational and non-restrictive funding pools, ASRI is building a longer-term, more sustainable approach to their fundraising efforts. 

Strengthening cybersecurity to prevent loss of income 

While increasing avenues for funding is critical in order for nonprofits to survive, preventing loss in income is equally as important. Cyber security is one of the biggest risks facing nonprofits – in Infoxchange’s 2023 Asia-Pacific NGO Digital Capability Report, 1 in 6 organisations reported they experienced a cyber security incident in 2022. Organisations must take an approach of prevention for ‘when’ they will be attacked, not ‘if’. The risks cannot be ignored. 

Many nonprofits have smaller budgets than private, corporate and government organisations. This often means vital areas like cyber security are deprioritised – or assumed to be the role of IT staff. Cyber security is every staff member’s responsibility, particularly for nonprofit staff who are stewards of highly sensitive data, including personal and financial information. 

The Singapore Association for the Deaf, an organisation committed to providing support for deaf and hard-of-hearing community members, recently underwent a cyber security assessment program amidst rising cyber security concerns. 

The team developed a roadmap to consolidate their cyber security capabilities to update outdated systems, improve policies and processes and prepare them for potential breaches. This involved ensuring only authorised users have access to systems, applications and data, implementing risk management and compliance processes to ensure information is managed and appropriately governed, and undergoing a “tabletop security exercise” – preparing them for a crisis via a simulation that examined opportunities for data breaches. 

“Our process of digital transformation has highlighted the importance of prioritising data protection and security in today’s digital landscape. Organisations must stay vigilant and adapt their practices to evolving threats, technological changes and regulatory requirements,” shared Hock Sik, IT and Facilities Manager of the Singapore Association for the Deaf. 

By embracing stronger cloud solutions, retiring outdated systems and implementing robust cybersecurity protocols and plans, the association has managed its ability to mitigate the risk of financial loss, ensuring the continuity of its ability to generate impact.

Streamlining collaboration to better clean up the environment 

For many non-profits, often one of the biggest challenges is not having a streamlined, collaborative environment. Cloud collaboration technology, more commonly known as Microsoft SharePoint or Google Workspace, can dramatically improve an organisation’s ability to increase productivity and collaboration to create impact. 

Also Read: Why these startups focus on informal plastic waste workers in the fight against climate crisis

Zero Waste Malaysia is a 49,000-strong member community organisation based in Malaysia that is advocating for sustainable development whilst aiming to increase the local community’s awareness of sustainable living. Teams provide resources, education and access to advocacy groups as a part of their mission to build a waste-free and sustainable future, and drive social and system change in Malaysia. 

But managing thousands of people across the country is no easy feat – operations, onboarding and training for such a large entity is a formidable task. This year, Zero Waste Malaysia underwent a comprehensive overhaul of its digital platforms via a digital transformation plan that involved a process of migration to fully cloud-based platforms. This has dramatically reduced unnecessary time needed for administration so they can better focus on their mission. 

“We work predominantly online and have no office, so we produce a lot of online educational content for groups, teachers and others. With only four full-timers, none of whom are experts on data security, we needed to come up with a more time-effective system that takes into account data security and access for different groups,” shared Tasha, Senior Programme and Communications Officer, Zero Waste Malaysia. 

By centralising resources and enhancing the security measures of these resources, the team has been able to improve their collaboration among volunteers, optimising their workflows, increasing their time to execute advocacy and membership growth, and bolstering its impact on waste reduction initiatives.  

Embracing innovation for enhanced impact 

Digital transformation is about far more than just introducing new and innovative tools like ChatGPT. It’s about digitalising, automating and improving processes and systems, creating more efficient ways to generate impact. 

These case studies underscore the transformative potential of technology and communication strategies in order to empower nonprofits to navigate contemporary challenges and maximise their social impact. By embracing a culture of learning and innovation, nonprofits can utilise these tools to make a bigger difference for the communities and causes they support. 

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

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

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Why are toddlers faster to pick up drawing and scribbling images than they are to learn their ABCs? 

We learn our first lessons in life by seeing things around us, so naturally, there’s a stronger inclination to recall information from visuals rather than words. 

If you have ever used flashcards for exams, you would know what it feels like to have a mental snapshot of one of the cards suddenly appearing in front of your eyes in the middle of answering a question. It’s absolutely magical how your brain stores information visually! 

That’s why whenever we see a problem, we can understand it better. Our brains typically perceive it in six ways — why, who/what, how much, where, when, and how. That’s the <6><6> visual thinking framework coined by Dan Roam, international bestselling author of the “Back of a Napkin” and the inspiration behind our own book, The S.T.A.R. System.

The Story, Takeaway, Application, and Reflection system structures problem-solving in business into a simple four-step process. Within it, the <6><6> visual thinking framework plays a pivotal role in breaking down complex issues into manageable parts to encourage an innovative and collaborative solution-finding experience.

Think about a company that you admire, or simply choose your own company. If you visualise it as a pie chart with six parts, you can see that an illustration of the business requires addressing six fundamental questions, each representing a crucial aspect of the whole business.

As you explore these questions, the company’s story begins to unfold. It’s a vital step  for promoting a deeper understanding of the business and developing a better management strategy to navigate challenges and opportunities. 

Also Read: Rewiring our world: How neuroscience unlocks the secret to sustainable tech

When a business hits a roadblock or a plateau, or when its core messages are derailed amidst a complex and volatile environment, these fundamental questions help in revealing gaps and divergences. The deeper you drill down on each slice of the pie, the richer your discovery of areas requiring action to be taken. 

One could write pages and pages of words to break down and analyse challenges, but the chances of a lot of the ideas getting lost in translation are high. However, if you also render your thoughts in illustrations, it’s easier to visually ‘see’ and understand the gaps and retain information relevant to addressing issues that impact your business. This is why the “Draw as I Think” approach works so effectively in business management.

Consider the scenario whereby you are in the F&B industry. When you think about target customer(s), you may draw specific demographics which include members of a family, such as parents, kids and even pets. When you think about customer fulfilment, you may draw what your customers need. Therefore, you are reflecting on Who you cater your offerings to and the decisions you take to satisfy your customers.

What you draw is a reflection on how you process information. It’s an expression of your own understanding. Drawing is a thinking process, not an artistic one. Draw to give greater clarity to your thoughts and improve understanding. Regardless of your artistic abilities, drawing the problems and their solutions, albeit simple stick figures and diagrams, can often reveal possible solutions in a similarly straightforward manner. All you need is paper and pencil.

This article was co-authored by Sherrie Low, and their book can be found here, with workshops available here.

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

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

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The digital age is upon us, and its impact on the workplace is nothing short of transformative. Automation, artificial intelligence (AI), and digitalisation are rapidly reshaping traditional job roles, demanding a significant shift in how we approach work and the skills we need to succeed.

This digital transformation presents both exciting possibilities and significant challenges. While new avenues for innovation and growth are unlocked, it also necessitates a continuous learning mindset from both individuals and organisations.

The need for upskilling and reskilling is a worldwide phenomenon. The onus falls on employees to integrate technology seamlessly, but a crucial question arises: are employers providing the necessary support for this digital transformation?

A recent study revealed that a staggering 85 per cent of employees across various industries recognise the importance of upskilling for career advancement. This recognition highlights a universal understanding that traditional skills may not be sufficient to navigate the demands of the digital age. 

However, the same study paints a concerning picture. Despite acknowledging the critical role of upskilling, a significant 24 per cent of employees reported a lack of adequate training opportunities provided by their employers.

This disparity between the recognised need and the actual support system presents a major obstacle. Employees face job insecurity and anxiety about their future careers without proper training and development opportunities. 

From an organisational perspective, this lack of upskilling hinders agility and competitiveness in a dynamic digital landscape.

Microlearning: A beacon of hope in a time of change

In the face of these challenges, microlearning has emerged as a powerful tool for empowering workforce resilience. Microlearning is a revolutionary approach to learning that breaks down complex topics into bite-sized, focused lessons.

Also Read: Startup pointers: Essentials for aspiring millennial entrepreneurs

These digestible modules, often delivered through mobile apps and online platforms, can be completed in as little as five to ten minutes. This format caters to the realities of today’s fast-paced world, allowing individuals to learn at their own pace and integrate learning into their busy schedules.

The benefits of microlearning are multifaceted. For individuals, microlearning empowers learners by offering self-directed skill development in bite-sized modules, allowing them to choose what to learn, manage their time effectively, and gain a confidence boost as they master new skills at their own pace.

In fact, microlearning demonstrably enhances knowledge retention by up to 50 per cent compared to traditional, lengthy training sessions. This improvement is attributed to the focused content delivered in manageable chunks, which reduces cognitive overload and fosters deeper understanding.

Additionally, microlearning modules’ short and engaging nature fosters increased motivation and engagement among learners. This translates to higher completion rates and a more positive learning experience.

Microlearning’s impact transcends individual benefits, creating a virtuous cycle of empowered employees and thriving organisations. Its flexible, bite-sized format adapts to evolving needs, fostering a culture of continuous learning with personalised pathways. This translates to a double win: boosted employee development and performance.

Microlearning fosters increased productivity and adaptability by fostering a culture of continuous learning within organisations. Upskilling teams with the latest knowledge equips them to tackle ever-changing market demands and technological advancements. This agility empowers organisations to innovate, adapt, and stay competitive in a dynamic business landscape.

Bridging the gap between theory and practice

As 50 per cent of all employees will need reskilling or upskilling by 2025, investing in upskilling and reskilling has never been more critical. Fueled by the rising demand for accessible upskilling, the ed-tech industry, currently valued at US$271 billion and projected to reach US$410 billion by 2026, is witnessing the emergence of innovative startups. 

These companies are dedicated to bridging the gap between academic theory and the practical skills required in the real world. As for us at OpenAcademy, the platform delivers a vast library of microlearning modules designed to address the specific needs of the workforce through a user-friendly mobile app. 

Also Read: Openness and collaboration in education is what the world needs

From learning the intricacies of digital marketing to mastering data analysis techniques, our platform also offers a comprehensive curriculum covering a wide range of in-demand skills.  One of the key strengths of ed-tech startups lies in the commitment to local relevance.

By collaborating with industry experts within regional contexts, these platforms ensure that the microlearning modules offered are directly applicable to the specific needs of the local job market. This localisation empowers individuals to develop highly sought-after skills in their respective fields.

Final thoughts

The digital age presents both challenges and opportunities and necessitates a paradigm shift in how we approach learning and development. Microlearning, with its bite-sized, accessible format, empowers individuals and organisations to thrive in this dynamic environment.

By embracing microlearning, we can cultivate a culture of continuous learning, equipping ourselves with the skills to navigate the evolving digital landscape and achieve success in the years to come.

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

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

Image credit: Canva

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Eighty-two per cent of Gen Z investors in the US started their investment journeys before turning 21, a sentiment echoed by 79 per cent of their Canadian counterparts, 81 per cent of UK-based young investors, and 63 per cent of Chinese Gen Z investors.

Additionally, an American Express survey unveils that millennials and Gen Z also prioritise financial goals and it is one of their top New Year’s resolutions for 2024. With such interest in the financial space, this demographic–also known as Zoomers–are now exploring various ways to make their financial status better. The strategies to meet their financial priorities are AI-driven smart savings accounts, interest-earning lending apps, gaming finance (GameFi), decentralised finance (DeFi) money markets, and financial literacy and education.

While some of these sound daunting for the average person, many Zoomers are leveraging technology and online resources to demystify these concepts and integrate them into their financial strategies. This new-age approach helps them navigate and capitalise on the latest innovative financial tools.

AI-driven smart savings accounts

Gen Z has the broadest accessibility of technology, particularly through smart savings accounts and financial tools. A vital component in this financial revolution is the integration of Artificial Intelligence (AI) in financial services.

AI’s role in finance is multi-faceted, with 85 per cent of financial firms reporting they are currently using AI. The usage of AI in the financial industry could grow to 23 per cent by 2025.

In addition, AI-suggested savings apps are emerging and changing the way Gen Z approaches saving. These platforms use sophisticated algorithms to analyse spending patterns, income, and financial goals, suggesting optimal savings strategies tailored to individual needs.

Wally, for example, is an automated finance app that simplifies budgeting by tracking and categorising expenses, income, and bills from your linked financial accounts. Cleo, another AI app, features an interactive chatbot that offers basic financial advice and advanced insights.

Also Read: A paradigm shift on the Z axis: How Gen Z is shaping the new work culture

Interest-earning lending apps

Interest-earning lending apps are attracting Gen Z and other consumers because of their simple registration processes and fast approvals. These platforms, both centralised finance (CeFi) and decentralised finance (DeFi) provide innovative ways for individuals to grow their savings. There’s a significant demand for digital lending globally, with its market size expected to reach US$795.34 billion by 2029.

Peer-to-peer (P2P) lending apps are gaining popularity among Gen Z and other consumers as innovative savings growth avenues. Platforms like 12 per cent Club, for instance, offer users the opportunity to earn a return of up to 12 per cent on investments.

CeFi platforms are akin to traditional banks but operate digitally. They offer loans and interest-bearing accounts.  In DeFi, Compound is one of the popular DeFi lending platforms. Users can lend any supported cryptocurrency on Compound, and they can borrow any cryptocurrency that is in demand.

By leveraging these platforms, Zoomers are actively taking part in their financial domain, and trying to maximise their earnings in ways that align with their digitally native lifestyles.

Earning through GameFi

GameFi, an industry that blends gaming and finance, gives power to the players by offering sophisticated gameplay mechanics that reward them with monetary incentives for having fun. The GameFi strategy is projected to reach US$90.51 billion by 2031 and could find relevance in the broader market once the traditional gamers realise its potential.

One of the success stories in this space is Axie Infinity, a game where players breed, raise, battle, and trade adorable digital critters called Axies. In the Philippines, Axie Infinity helped people earn money during the COVID-19 pandemic.

Furthermore, platforms like The Sandbox also exemplify the GameFi model that enables demographics who are on the lookout for new and innovative ways to merge their digital lives with financial opportunities.

DeFi money markets

DeFi money market protocols are revolutionising financial interactions, providing new avenues for staking, lending, and borrowing. This move towards autonomy and higher returns especially appeals to Gen Z, who favour digital, transparent, and decentralised finance, aligning with their preference for technology and innovation.

Also Read: Startups in SEA secure millions in funding this week, redefining industries

One example of this is Scallop, a next-generation money market with lending and borrowing for digital assets. Utilising Sui’s Move language, it offers a secure and user-friendly money market protocol. Its institutional-grade features and focus on accessibility have established Scallop’s growing user base on the Sui blockchain, being the fastest-growing DeFi protocol and the first to reach a total locked value of US$160 million by March 2024.

The decentralised platform has processed US$24 billion in lending and borrowing and US$2 billion in flash loan volume. Additionally, Scallop has gained a strategic investment from DWF Labs, a leading Web3 investor and market maker, which will help boost its presence and drive innovation.

Scallop allows users to borrow and lend a variety of assets, including major stablecoins like USDC and USDT, as well as SUI and yield-earning assets like afSUI. Additionally, projects like Typus, Kai Finance, and SuiPearl, built on Scallop, enhance user access to on-chain money markets.

Aave, a decentralised lending and borrowing protocol, is another player. It allows users to lend their assets and earn interest or borrow assets by providing collateral. It has democratised access to credit and interest-earning opportunities, making it another significant platform in the DeFi ecosystem.

Financial literacy and education

Financial literacy and education are crucial for Gen Z’s empowerment, forming the basis of effective wealth management. In 2023, Americans lost an estimated estimated US$388 billion because of their lack of financial knowledge.

Gen Z can benefit from financial literacy resources, gaining essential money management skills and preparation for their financial future.

Final thoughts

The finance domain is complex, yet anyone with enough patience and understanding can achieve such long-term success. Zoomers with innovative and forward-looking financial strategies can not only reshape how they approach money management but also redefine fiscal responsibility.

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Fundraising can be a daunting journey for any startup, but having access to the right resources and guidance can make all the difference. For entrepreneurs eager to scale their ventures and attract the right investors, e27 has curated a comprehensive list of knowledgebase articles designed to help you navigate the complexities of fundraising.

These invaluable resources, meticulously chosen by e27 editors, are now accessible through Pro Connect with a special offer of a 50 per cent discount for new members. Here’s a sneak peek into the expert advice and insights you can gain from this exclusive collection.

Expert advice for crafting a winning deck, straight from the community

Creating a compelling pitch deck is crucial for successful fundraising, and many startup founders struggle with this. e27 offers a comprehensive collection of articles to guide you. Highlights include crafting a strong problem statement, virtual pitching strategies, and detailed breakdowns of essential pitch deck components. Contributions from industry experts like Ine Jacobsen and Vinnie Lauria provide valuable insights. Additionally, e27’s team offers practical lists and visual guides, and investor Alexander Jarvis shares key factors for investment decisions. This resource is essential for perfecting your pitch deck.

Startup funding rounds: A handbook from seed to exit

Funding rounds are crucial milestones for startups, marking new valuations and investment stages from seed to exit. Self-funding (pre-seed) involves founders using personal funds. Seed funding validates market demands with investments from angel investors or families. Series A expands user bases, Series B scales businesses, and Series C aims for swift, profitable growth. Series D/E rounds are rare, often for mergers or IPOs. Bridge rounds provide interim funding. Exit strategies include IPOs or M&As. Each stage reflects the startup’s growth, attracting new investors and increasing valuation.

Cracking the code: Key traction metrics early-stage investors seek in startups

Investors seek key traction metrics when evaluating early-stage startups, with focus varying by sector. Essential metrics include market opportunity, proven traction, and team strength. Market opportunity involves assessing the total available market, potential market share, industry growth, and international expansion.

Also Read: Crafting a winning healthtech pitch deck: The insider’s guide to attracting investors in 2024

Proven traction requires data on profitability, revenues, user engagement, and partnerships. Pre-revenue startups should highlight user metrics and retention rates. Finally, a strong, passionate team with relevant skills and credentials is crucial for building investor trust and resilience.

Pitching prep: Anticipating key questions VCs pose in pitch sessions

Preparation is essential for pitching sessions with VCs. Founders should expect virtual meetings where they present their startup and answer key questions about their team, market opportunity, product-market fit, and business metrics. VCs like Leung Pui Yan, Abhijit Banerjee, and Eko Kurniadi emphasise the importance of a strong, concise pitch backed by data and a clear cap table. Founders should avoid common mistakes like poor preparation, lack of conviction, and early dilution of equity. Authenticity and thorough research on the VCs are crucial.

Navigating startup funding: A primer on 10 investor types every entrepreneur should understand

Startup funding involves various investor types providing essential capital and expertise. Venture capitalists invest in high-growth startups for ownership shares, while angel investors and syndicates invest early for high returns. Personal investors include friends and family. Accelerators and incubators offer mentorship and seed funding. Banks, government agencies, and retail investors (through crowdfunding) also contribute. Family offices and corporate investors provide strategic investments. Private equity firms invest in startups and mature companies, aiming for growth and influence.

Unlock these resources today and take a confident step towards securing the funding your startup deserves.

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

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Vivien Van Le experienced a series of realisations and frustrations throughout her corporate career across various industries, including online travel, consumer finance, ride-hailing/delivery, and entrepreneurship.

For instance, there was a clear need for travel insurance for visa applications and protection against travel-related risks like flight delays and hospitalisations. Insufficient coverage for passengers and goods in the ride-hailing and delivery sectors, along with challenges in obtaining healthcare insurance, highlighted broader difficulties in accessing insurance, especially for millennials and Gen Zs.

These experiences highlighted significant gaps in insurance accessibility and understanding in Vietnam and across Southeast Asia. Driven by the urge to address these challenges, Le founded Saladin in 2021 to make insurance more accessible and comprehensible for all.

Saladin is a digital platform to connect insurers, intermediaries, and customers. Its services include advanced pricing solutions, claims management tools, and resources for customers and agents to find the most affordable and personalised insurance options.

Southeast Asia’s insurance penetration rates are significantly lower than global averages, with the region averaging 3.6 per cent compared to the global 6.3 per cent and per capita premiums standing at US$135 versus the global US$682.

Empowering millions in Southeast Asia

“Saladin was established with a clear objective: to empower millions of customers and agents to find the best insurance offers, whether personalised, competitively priced, conveniently accessible, or delivered swiftly and securely. Its overarching goal remains grounded in the fundamental principles of insurance: ensuring greater protection and risk-sharing among individuals and businesses,” said Le.

Saladin has an in-house team of insurance agents dedicated to providing consulting and customer service support, both pre and post-sales, to ensure a better customer experience. Licensed as an insurance broker, corporate insurance agency, and Third-Party Administrator (TPA) in Vietnam, the startup has primarily focused on non-life insurance but is poised to expand into life insurance soon.

Also Read: Monk’s Hill Ventures backs Vietnamese insurtech startup Saladin

Le emphasised that Saladin prioritises the value of its tech-driven products and services to enhance efficiency and customer relationships. For example, its platform allows customers and agents to obtain car insurance quotes from multiple insurers within seconds and complete purchases in minutes, with instant policy issuance. In contrast, the general market takes several days to get the same service.

Additionally, for delivery and flight insurance, Saladin can detect, notify, and process claims for trip delays within seconds.

“Customers and agents can use our platform to select or customise the products, accompanied by personalised after-sales support. Any support requests related to your insurance policy will be handled by us on your behalf, ensuring a timely resolution with the insurance company,” she added.

Saladin serves consumers, agents, and insurers across the region.

• For consumers, it offers a one-stop insurance solution that simplifies the process of finding suitable packages. It allows easy comparison, selection, payment, e-policy receipt, and claims submission.
• Agents benefit from free online tools that provide access to a vast pool of potential customers. These tools enable agents to introduce various insurance products and earn commissions without extensive expertise.
• For insurers, Saladin’s tech-driven approach attracts millennials and Gen Z customers who prefer efficient online platforms. Its technology services, customer support, and online claims platform enhance productivity, security, and customer experience while aiding in fraud control.

The company has partnered with nine leading insurers in Vietnam to date and claims to have served about 600,000 unique customers with nearly 10 million policies sold.

“Our agile and cost-effective solutions help overcome barriers associated with legacy systems, enabling insurers to reach customers faster with innovative products through revenue-sharing principles,” remarked Le.

Overcoming challenges and building trust

Le noted that the challenges faced in the insurtech industry closely mirror those in other sectors, such as e-commerce, ride-hailing, online travel agencies, consumer finance, and digital banks. These challenges mainly involve migrating customers from traditional offline practices to digital methods and building credibility as a new player like Saladin.

“To tackle these challenges, we’ve prioritised market education and collaboration with leading insurers and trusted partners nationwide,” Le explained. “By demonstrating the tangible benefits of digital transformation and ensuring seamless integration with existing systems, we’ve alleviated previous concerns and built trust amongst stakeholders at all levels.”

Also Read: A paradigm shift on the Z axis: How Gen Z is shaping the new work culture

Le also mentioned that the insurtech firm had made significant investments in compliance, both in technology and business operations, to meet increasingly stringent regulatory standards typically implemented in more developed markets. Obtaining broker insurance and TPA licenses in Vietnam and implementing rigorous training programs for their staff have been pivotal steps in ensuring top service standards and strict regulatory compliance.

Saladin’s investment journey and future aspirations

Saladin has been funded through a combination of angel and VC investments. Last year, it announced completing its Series A round, led by Monk’s Hill Ventures, with participation from Peak XV Partners, Venturra Capital, and Patamar Capital, as well as a group of angel investors.

The company is now open to exploring additional funding opportunities to accelerate its growth and expand its market reach. The new round will support product development, market expansion, and talent acquisition.

Saladin’s long-term aspiration is to emerge as the premier insurtech platform in Southeast Asia, delivering substantial value to all stakeholders by continually elevating its standards as its operations evolve.

“Our satisfaction stems not only from celebrating major milestones but also from the daily recognition of our ability to help both new and returning customers effectively. We find fulfilment in customer satisfaction and are especially driven by specific feedback that allows us to refine and enhance our services for the future.,” concluded Le.

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

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