Singapore-based epigenomic (the science of how genes are expressed) research and innovation company Auristone has announced the completion of its US$4 million seed funding round, led by Elev8.vc.

SEEDS Capital and Genedant also participated.

Also Read: ‘We aim to make early cancer detection accessible on a global scale’: Mirxes CEO

This infusion of capital will be strategically deployed to enhance Auristone’s capabilities through clinical collaborations and to drive market adoption of its flagship molecular profiling test, EPI-CALL, by working closely with regional genomic companies.

Auristone harnesses the power of epigenomic insights to transform the field of precision medicine. Using epigenomics, Auristone can predict patients’ likelihood of response to different treatment options, helping doctors determine patient treatment plans.

EPI-CALL is designed to help doctors and patients navigate the complexities of therapy selection for late-stage cancer patients.

Auristone’s other products are Signomax (a sample-to-report ChIP-Seq and RNA-Seq service to support research endeavours) and EPI-Tome (an epigenomic-driven novel biomarker and drug discovery engine).

Also Read: Harnessing the power of AI to help improve gastric cancer detection

“In order to continually deliver value for the community, we will partner with regional genomic companies to offer EPI-CALL and deepen clinical collaborations to gain new epigenomic insights,” said Chew Jing Ming, CEO and co-founder of Auristone.

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

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It is a tumultuous time for creators. There is no denying that. ChatGPT is only approaching its first birthday, and arguably, it has already changed the world more than any other technology since the Internet.

And because of the Internet, the aggressiveness of the impact of generative AI is that much stronger. This leaves many people from the creative economy, people like me, journalists, writers, artists, authors, and really anybody with an artistic streak who has sought to make their work public, affected by the innovations.

With that premise, I have seen and read several statements that have come out recently, the most recent one entitled “For an Innovation and Creator Friendly AI Act”. You can find it here.

It was published on 23 November, and 12 groups representing over 500,000 writers, artists, journalists, musicians, and other creatives signed it. As a supporter of collective action, I am really pleased to see this.

In the statement, the organisations are urging European policymakers to focus on transparency for their upcoming EU AI Act, specifically regarding the training data used for large language models. The statement takes a somewhat ambivalent position on whether damage has already been done or could be done by those models and the AI tools built on them. That is a missed opportunity, I think.

There is certainly room to say unequivocally that damage has been done and that forms of compensation for copyright holders should be discussed. OpenAI, Microsoft, Google and the like have deep enough pockets to pay their dues. We should not be shy in asking for them.

Then, we get into other areas with this statement that are more problematic. One is the labelling of the content produced with generative AI tools. Without wanting to intentionally hurt the feelings of these well-meaning artists, I have to be honest: this is wishful thinking.

We have to acknowledge that creativity comes from many places, and that is certifying creative products as “100 per cent human” versus “AI-supported” or “fully AI-generated”, whatever that means, considering the initial prompts or inputs are ALWAYS human-led, it’s just not doable.

Clearly, the intent of these writers is to lobby European policymakers as they approach the completion of the negotiations on this EU AI Act. I am European but have not lived in Europe for about 15 years, and I am not a pro-EU ideologue. To me, imperialism is imperialism, no matter its colour or nationality.

That being said, there is certainly an opportunity here. Just as I strongly believe in the worker’s right to unionise to protect their livelihoods and their human rights, there is certainly a lot that can be done through collective action like this to ensure that creatives are not disproportionally harmed by this new technology.

I have also been very vocal about the fact that many industries within the creator economy are simply outdated and ready for disruption, whether from AI or elsewhere. I will stick here with publishing because it is the one that I have worked in for the longest time, and it is impossible not to see resistance to change and the desire to avoid rocking the boat of the status quo as a fundamental driver here.

That I am 100 per cent not supportive of.

Also Read: AI is not almighty: Why the ‘magic tool’ still needs human help

It is very clear to me that most channels for the commercialisation of creativity today do not favour creators beyond a narrow niche of geographically, gender, and culturally-defined subsets of creators (i.e. mostly white dudes like me). Traditional publishing, where pathetic royalties and outdated business models kill any chance for the average writer to make a living out of their writing, does not help creators.

That is also the case with self-publishing. As it currently stands, self-publishing equals Amazon, and Amazon is a monopolistic, abusive superpower with way too much lobbying and regulatory influence to give a damn about really supporting the millions of creators, and in particular writers, who use platforms like Amazon Kindle.

So, creators have been getting ripped off for the longest time, and now AI comes along, threatening to unleash even more chaos on creators.

I understand the fear, I really do, but I also have a deep belief in the duty of creators to explore and experiment as a core component of their identity as creators.

Is it possible that there is a schism brewing within the creator community? Yes, it is possible. Some creators I speak to, shier than I am in making their positions on AI known, have already talked to me about “AI positive” and “AI negative” creators and organisations. So, it is possible that statements like these will further formalise a divide.

But I also believe that it is too early for that. In fact, I am almost certain that a lot of the fear being expressed in these statements also arises from the very simple fact that most creators don’t know how to use this technology. As someone who spent the last three years exploring generative AI, I can attest to the fact that it is a complex technology to master, although it is deceptively simple to approach because of the chatbot format.

AI has helped me kill and bury writer’s block. It has helped me visualise fantastical locations and events for my speculative fiction that I would never have imagined before. It has helped me edit, draft and iterate on novels that had been stuck on the back-burner for years because of family and professional commitments. These are just a few examples, and they are a topic for other conversations, ones that I am thrilled to have with those willing.

What is relevant to today’s topic are positions like those expressed here.

This is a group of well-meaning writers speaking out against “Writoids” — meaning AI systems that attempt to imitate human writing. They argue these systems violate copyright laws by training on copyrighted content without permission. They view Writoids as a threat to human creativity and livelihoods.

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

They quote Isaac Asimov’s Three Laws of Robotics in their manifesto, questioning whether copyright infringement qualifies as “harm” under the first law.

On this, I cannot agree. It is not the technology infringing copyright but the businesses building the technology with illegal data collection practices. I do not think there is anyone who understands what is happening within the field of artificial intelligence who would agree with the statement that these large language models and the tools built on top of them are just regurgitating copyrighted content, at least so far as text is concerned.

There were certainly justified concerns around image generation and that it was very easy in the earlier days to see watermarks and signatures from copyright holders as fragments of the generated images. Compensation should be obtained for those violations. But the technology has already moved past that issue, even though better safeguards for the styles and techniques of living artists must be further explored. This is a great example.

The Writoid manifesto criticizes the fact that intelligence seems to be very much just a facade for this tech, and they criticize the tech for lacking “true” intelligence or creativity (I’d love to hear their “definitive definitions”).

This is quite naïve. As many people in the AI industry note, the current AI is the dumbest that AI will ever be. It is getting smarter literally week by week, so basing any argument on the current limitations of this tech misses the point.

We should certainly ensure that these systems are and will be built without plain old-school robbery, something that capitalism is fantastic at, from slavery to colonialism and so forth. However, we should not confuse capitalist dynamics with technology itself. Steam engines and electricity caused plenty of social changes, but ultimately, it was the exploitation that surrounded those technologies that caused societal harm, such as displacements, pollution, child labour and more. Certainly not the technology itself.

Technology is and will remain a net positive for society.

Ultimately, there is no turning back. Technologies are here to stay, and the percentage of humanity that will come to rely on AI for many things, including their creative needs (of both creation and creative consumption), is only going to skyrocket from here. So, burying our heads in the sand and blaming technology for the exploitation of the surrounding area is not the way forward.

I believe the way forward is to ensure there are proper safeguards for copyright-holding creative, which should be achieved through collective action to protect the livelihood of authors and make sure proper compensation is given for any exploitative appropriation of copyrighted material that has already taken place.

So, let’s have fairness and compensation where it is due, but let’s also have better, more informed opinions on the other side based on a deeper understanding of this incredibly fast-moving technology.

To me, those should be the two guiding principles going forward for all creators, writers and artists worldwide.

This article originally appeared in the newsletter Code Red for Writers.

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As the world recently commemorates International Women’s Day on 8 March 2024 and will continue to do so throughout the entire month of March, it is a fitting moment to reflect on the strides made in promoting diversity and inclusion (D&I) within the corporate landscape.

Having delved into this crucial topic extensively in previous articles and media interviews, the discussion predates the formal celebration of International Women’s Day. In the ever-evolving dynamics of workplace culture, these initiatives have evolved from mere aspirations to becoming the bedrock of progressive and forward-thinking organisations.

Setting the stage: Company goals and principles

Diversity and inclusion are not just corporate buzzwords (I truly hope organisations will stop capitalising on this for self benefits); they represent the foundation upon which thriving, innovative, and harmonious workplaces are built.

Companies, guided by principles of fairness and equal opportunity, aspire to cultivate a workforce that mirrors the rich tapestry of the communities they serve. The core principles involve embracing differences, eliminating biases, and ensuring equitable treatment for all.

Initiatives to bridge the gap

Translating these admirable goals into tangible actions is crucial for our success. Diverse hiring practices, unconscious bias training, mentorship programs, inclusive leadership training, and regular diversity audits on pay equity are among the essential initiatives. These measures transform diversity from an abstract concept into a living, breathing part of the organisational culture.

Also Read: Invest in women, accelerate progress: Why gender equality matters now more than ever

Real-life triumphs: Shaping the future of work

With a career spanning over 13 years in the human resources sector, I have been an active participant in the unfolding narrative of diversity and inclusivity within various organisations. The stories that emerge from these experiences weave a tapestry of transformation, illustrating the profound impact of initiatives to foster diversity.

Prioritising diversity in talent management has proven to be a beacon of creativity and innovation. By intentionally hiring employees from diverse backgrounds, I have seen companies that have not only expanded their talent pool but have also witnessed a surge in fresh perspectives and creative problem-solving. The workplace becomes a melting pot of ideas, each contribution unique and valuable in its own right.

I have also seen organisations that are committed to impact sourcing and hiring, where they set specific percentage targets as yearly objectives and find themselves undergoing a remarkable metamorphosis. The deliberate pursuit of diversity, reflected in the tangible commitment to change, fosters an environment where inclusivity is not just a goal on paper but a lived reality. This commitment propels organisations toward a more vibrant and diverse future.

With the advent of Women in Tech programs, designed to support the growth of women in technology, they extend beyond empowering individual female employees. They become catalysts for a more inclusive and innovative tech industry, breaking down barriers and reshaping the narrative of a traditionally male-dominated field. The success stories of women thriving in tech roles inspire a new generation of talent, transcending gender stereotypes.

In the context of leadership, providing opportunities for women and ensuring proportional representation on the board becomes a pivotal plotline. As organisations embrace diversity at the highest decision-making echelons, the impact is profound.

The boardroom transforms into a space where various voices and perspectives are heard, leading to a more balanced and effective decision-making process. The empowerment of women in leadership becomes a beacon, guiding organisations toward a future where leadership is synonymous with diversity.

Amidst these stories, a common thread emerges – the commitment to equitable salary structures. Implementing fair grading and benefits reinforces the fundamental principle of treating all employees fairly and equally. It becomes a cornerstone of an inclusive workplace, where everyone, regardless of background or identity, is recognised and rewarded based on merit and contribution.

Also Read: Buy from her: Elevating women’s entrepreneurship

These stories collectively serve as tangible evidence that diversity is not merely a lofty goal but a tangible catalyst for creativity, innovation, and, ultimately, business success. As we navigate the evolving landscape of workplace culture, these narratives underscore the importance of embracing diversity as an ongoing journey, one that transforms organisations into vibrant and inclusive spaces where every individual can thrive.

Sustaining the momentum: Practical advice for organisations

The journey toward diversity and inclusion is perpetual, requiring organisations to strive for improvement and evolution continually. To maintain and grow these initiatives, I recommend the following key steps:

• Key Performance Indicators (KPIs) and metrics: Establish a range of KPIs and metrics to assess D&I efforts. This could include workforce diversity metrics, retention, attrition, and promotion rates, representation in leadership roles, pay equity assessments, and regular employee surveys.
• Diversity in recruitment: Regularly assess and improve diversity in recruitment processes, ensuring that the talent pool represents the broader community.
• Commitment to inclusivity: Embed the commitment to creating an inclusive work culture into the organisational DNA. This involves not only setting policies but also fostering an environment where every employee feels valued, respected, and empowered.

In conclusion, embracing diversity and inclusion is not just a moral imperative but a strategic business decision. By fostering an inclusive culture and continually refining strategies, organisations can create workplaces that not only reflect the world’s diversity but also drive innovation, creativity, and sustained success.

March celebrates women’s voices and drives change globally, from Women’s History Month to International Women’s Day. In conjunction with that, let us recommit ourselves to the journey of creating workplaces where everyone has an equal opportunity to thrive.

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Eric Ries popularised the term “Minimum Viable Product (MVP)” in his book The Lean Startup. The concept refers to creating a basic version of a product with the minimum features, just enough to satisfy early customers and gather feedback for future development.

Prioritising speed and cost allows companies to validate their assumptions, test hypotheses, and refine their product based on real-world data and user insights as soon as possible. It also allows startups and product developers to test their ideas quickly, enabling them to learn from real user interactions and iterate based on that feedback.

As such, the MVP approach has become an important principle in modern product development and entrepreneurship.

That sounds like the logical thing to do, right? But here lies the issue.

We had the good fortune to be accepted into multiple incubators. Making an effort to receive as much help as possible for our journey, I also made the effort to connect and to know as many mentors as I could on Linkedin. However, I quickly realised that many of them did not even understand the concept of MVP. 

An MVP should be minimal. But it should also be viable. Many mentors or so-called experts focus on the word minimum but forget about viable. 

Take, for example, what is considered alive. A dog, a cat or a bird are obvious examples. Even children can do high-level definitions. But when it comes to viruses, you will realise that there is a lot of debate among microbiologists. Only if you understand the concept well, your space, and your competition can you decide what your MVP should constitute.

Also Read: Daniel Tan: Banker turned fintech founder, finding opportunity in crisis and market inefficiency

The US Air Force in 1996 estimated the F-22 programme could overrun its budget by US$15 billion. Many engineering projects go over budget because it is impossible to forecast exactly how long it takes to build something.

A different understanding of how a simple website function works between frontend and backend developers alone could have a cascading effect on how other functions are interpreted and, therefore, the time needed.

We did not have enough for the project, and when asking for help to raise funds to complete it, the word build an MVP was thrown around far too often. Nailing everything down to a high degree will, by itself, ironically require months of effort and, thus, cost. 

Reid Hoffman said, “I believe starting a company is like jumping off a cliff and assembling a plane on the way down — your willingness to jump is your most valuable asset as an entrepreneur.”

And sometimes that is what exactly we need to do.

We were building a loan marketplace, and in Singapore alone, we were at least the fifth claiming to be one. When the product was just ready enough to demonstrate the underlying concept to onboard the lenders, we got a rude shock that many lenders were so sick of hearing about yet another marketplace that many of them did not even want to hear us out.

With much effort and gathering the testimonials of earlier onboarded lenders, we were able to show that to subsequent lenders we were trying to onboard, and it helped so much more.

We have begun onboarding lenders even before the MVP was fully built to overlap things and go to market faster. We rehearsed the presentation and demonstrated the capabilities of the platform by carefully navigating the website to show pages that demonstrate what borrowers and lenders can do while avoiding the pages with bugs or not built out. As a result, we were able to attract a good number of lenders while trying to complete the MVP, allowing us to overlap things by a good 6-9 months.

All these would not be possible if we had not stubbornly insisted on what should be constituted as our MVP instead of listening to them. Many tried to guide us by asking us to remove this and that. The reason why lenders were so sick of hearing about other loan marketplaces was because most of them were just tech-enabled brokers but still brokers.

If we had removed many of the functions that allowed a borrower to apply with multiple lenders at once, allowing for back and forth all with a middleman, we would have been just another tech-enabled broker or broker and never be able to onboard the lenders.

Also Read: Depression was the best thing that happened to me as a founder; here’s why

Only if you understand the concept well, your space, and your competition can you decide what your MVP should constitute. It should be differentiated and viable while trying to strike a balance between cost and time to market.

I suspect the issue lies with how incubators recruit mentors. With the boom of the tech scene, many incubators, etc., began to pop up, and next thing, it became a fight to showcase the most exciting names in a bid to draw startups in. Senior directors from banks, insurance companies, marketing gurus, you name it, they got it.

While leaders have their own rights and many things we can learn from them, they don’t necessarily understand startup principles or the particular space you are in, or worse, don’t want to. 

A friend who is the community manager of a large chamber with thousands of members lamented to me about decreasing engagement rates when they started splitting it into chapters run by chapter leaders. I asked how the chapter leaders were nominated. Do they have the know-how, interest or incentive to create activities, engage the chapter’s members and be a bridge to agencies? 

Just like many founders start a company for the wrong reasons, and there are many articles and conversations about it — I believe that is not enough conversation (someone should write another article!) on what it means to be a mentor and how to be one. If teachers have to go through years of training to teach, the least incubators need to do is to ensure the mentors have the correct motivations and not joining just to elevate their branding. 

As the saying goes, no one cares how much you know until they know how much you care. So, founders, stop listening to mentors who tell you to build an MVP until they bother to listen to you first.

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Singapore-based B2B startup Ailytics, which utilises AI-powered video analytics solutions to help heavy industry companies enhance their operational safety and productivity, has secured US$2.7 million in oversubscribed pre-Series A funding, led by Tin Men Capital.

The funding will fuel the startup’s expansion into new markets, such as Hong Kong, the Middle East, Japan, and Oceania and R&D efforts.

Also Read: B2B tech startup-focused VC firm Tin Men Capital makes first close of Fund II

Ailytics was founded in 2021 by CEO Wei Zhuang (Lenard) Tan and CTO Prateek Manocha.

The startup’s proprietary solution taps on existing cameras to provide real-time actionable insights into unsafe acts, productivity metrics, and security breaches. It can provide 3D dimensions using a 2D video feed from any single camera, which enables the deployment of complex use cases such as calculating the danger zone under heavy load and a fixed radius around hazardous equipment.

According to Ailytics, the solution can be deployed with high accuracy using existing low-resolution cameras, even in harsh environments, making it suitable for dynamic environments found in construction sites and manufacturing plants.

The B2B software startup’s solutions have already been implemented in over 70 projects, integrating with over 1,000 cameras spanning four countries and multiple industry verticals. It has enabled customers to reduce the need for manual inspections by up to 50 per cent while increasing hazard detection by up to 7x. It has reduced or eliminated bad behaviour, downtime from audits, stop-work orders and fines.

Ailytics clients include Jurong Town Council (JTC), Woh Hup, and ST Engineering.

“We would also be able to increase our R&D efforts to build the next generation of Video Analytics solutions, powered by Large Vision Models (LVM) capable of handling complex domain specific tasks,” said commented Zhuang (Lenard) Tan.

Also Read: Hard for VCs to influence the success of B2C startups beyond capital, advice: Murli Ravi of Tin Men Capital

“Regulators of construction and manufacturing are imposing stricter safety standards in these industries. Non-compliance leads to delays, penalties, and revenue loss. Rising labour costs and a tighter skilled labour market are posing challenges too. The right technology can drive productivity and serve as a reliable tool to safeguard workers lives by detecting and preventing accidents,” said Jeremy Tan, Co-Founder of Tin Men Capital. “Ailytics’s solutions have shown impressive results in reducing accidents, downtime, and boosting productivity.”

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

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

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Having worked in the blockchain industry, Dipesh Sukhani and Emmanuel Antony witnessed firsthand scalability issues related to Web3; these issues could inflate operational costs by up to 30 per cent and take a devastating financial toll on smart contract exploits that often exceeded US$1 million.

The duo believed that a platform capable of providing robust testing solutions was necessary to address the critical security and efficiency gaps.

“BuildBear Labs was launched as a response to these significant challenges,” co-founder Sukhani tells e27. “We were convinced that Web3 is the future of technology as we observed the market’s palpable shift in this direction. It motivated our mission with BuildBear Labs.”

Also Read: Web3 development tools startup BuildBear Labs nets US$1.9M funding

Founded in Singapore in 2022 by Sukhani and Antony, BuildBear Labs seeks to make the Web3 space more accessible and secure for developers. Its main product is the Phoenix Engine, a specialised automated & continuous testing engine (ACTE), which empowers developers to build secure, scalable, and interoperable dApps, mitigating the risks of post-launch fixes and fostering higher user adoption rates.

“Imagine it as a highly-skilled test engineer that continuously checks your work for any mistakes or vulnerabilities, ensuring everything runs smoothly and securely before your project goes live. This is crucial because, in the blockchain world, a small oversight can lead to significant losses or security breaches. This is what Phoenix Engine does,” he elucidates.

Providing a sandbox environment

The engine transforms how developers approach Web3 development by providing a sandbox environment for testing applications under real-world conditions without risking assets or security. Sukhani claims this approach ensures scalability, performance, and cross-chain compatibility.

From a business perspective, the Sandbox “significantly” enhances the capabilities of Web3 development teams by enabling the creation of tailored private testnets. It allows teams to conduct comprehensive and realistic testing of dApps in a secure, isolated environment.

Also Read: Web3 needs novel prevention tools for novel attack vectors: AI saves the day

By offering features that simulate real-world blockchain conditions, including network states, smart contract interactions, and cross-chain functionality, the sandbox empowers developers to rigorously test dApps for scalability, performance, and compatibility issues.

Sukhani claims that BuildBear Labs has already created over 8,100 sandboxes, with a 19 per cent month-over-month growth rate in active users.

Ensuring the security, integrity

BuildBear Labs takes the security and integrity of its testing environments seriously, he says. The firm plans to integrate advanced security measures and form partnerships with industry leaders like RemixIDE, Scaffold-ETH, Cookbook, Catapulta, and Loki.Code, and SolidityScan.

“Through these collaborations, we’ve incorporated cutting-edge security practices and tools into our Phoenix Engine. This provides developers with a secure and comprehensive platform for testing their dApps,” he remarks.

Amidst the abundance of opportunities, BuildBear Labs faces several challenges. “As the Web3 landscape rapidly evolves, we face challenges like adapting to new technological advancements, navigating the ever-changing regulatory environments, and ensuring our platform remains accessible to developers of all skill levels without compromising on advanced functionalities. Addressing these challenges head-on is essential for leveraging our unique position in the market. It’s our mission to drive innovation and cement our status as a pivotal force in simplifying and enhancing the process of blockchain application development.”

The Web3 startup recently raised US$1.9 million in funding co-led by Superscrypt, Tribe Capital, and 1kx, with participation from Iterative, Plug-N-Play, and angels. The money is being used to deepen to expand its core team with top-tier talent and its global footprint, particularly in the US.

Also Read: How AI and blockchain collaborate for a transparent Web3 future

In the upcoming months, BuildBear Labs will introduce a series of developments and advancements to “solidify our role” in the Web3 development landscape. It includes enhancing the Phoenix Engine with new features, integrating advanced analytics for deeper insights into dApp performance, and expanding its collaborative efforts with industry leaders to incorporate cutting-edge technologies and methodologies.

Web3 losing sheen?

Once the hottest vertical, Web3 seems to have lost its sheen largely due to scalability, user experience challenges, and regulatory uncertainties. However, the last few months have signalled a promising shift, he says.

“With Bitcoin reaching an all-time high, we’re witnessing the Web3 market start to heat up again, underscoring the enduring interest and confidence in decentralised technologies. As someone deeply invested in the potential of Web3, I’m optimistic about its resurgence. The comeback will be fuelled not only by technological advancements and clearer regulatory guidelines but also by increased mainstream adoption and strategic collaborations within the ecosystem. This renewed momentum and the convergence of efforts across the sector suggest that Web3 is poised for a significant comeback, ready to redefine the digital landscape in ways we’ve only begun to imagine,” Sukhani concludes.

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

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Kamereo, a food supply B2B e-commerce business based in Vietnam, has raised US$2.1 million in a funding round co-led by Reazon Holdings, Quest Ventures, and Thoru Yamamoto (CEO of Japanese B2B seafood supply chain company FOODISON)

This brings Kamereo’s total amount raised to date to US$7.2 million.

Also Read: Multifaceted effects on Vietnam’s e-commerce: A near-term potential to break through in the Asian market

The company intends to use the funding to strengthen its sales team, increase the range of products and private brands, and expand its warehouse network. It will develop and sell ready-to-eat vegetables for supermarkets and convenience stores under its private brand.

Kamereo is a wholesale food supply e-commerce firm. It owns vegetable and fruit collection centres and directly works with its partners and contract farmers.

With over 200 employees, it serves over 3,000 businesses in Vietnam. Its customer base includes restaurants, supermarkets, convenience stores, factories, schools, and hospitals.

It also develops mobile apps and websites for customer ordering and warehouse and delivery management systems.

Also Read: AI will change the game of tech business in Vietnam by 2024. This is what you need to know about it

Satoshi Kuriga, Senior Executive Director of Reazon Holdings, said: “Kamereo has been diligently constructing a robust food supply chain amidst the logistical challenges of Vietnam, where the infrastructure for supply chain and logistics, akin to that of developed countries, is not readily available. Numerous companies and startups have attempted similar endeavours but ultimately faltered, withdrawing from operations due to the formidable challenges of building and managing teams and operations in this context. Despite the immense size of Vietnam’s food supply market, no clear winner has emerged. We firmly believe that Kamereo is poised to seize this opportunity and emerge as the market leader.”

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

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

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Small and medium-sized firms (SMEs) continue to have a significant impact on the Southeast Asian (SEA) economy, where, including micro businesses, they account for over 90 per cent of all SEA enterprises. According to the UOB Business Outlook Study 2024, the outlook for SMEs in the region is positive. Four out of five businesses in SEA reported greater revenue growth in 2023 vs 2022 – with most businesses experiencing a revenue increase of 10 per cent to 50 per cent in 2023.

Due to the sheer scale of SMEs and their impact on the SEA economy, it is imperative that any prospective future developments be closely monitored and examined as the region recovers from recent economic uncertainties.

Looking ahead to 2024, there are several emerging SME trends that can help these companies to further unlock their potential. These include a rising emphasis on sustainability-led support, the proliferation of Green Technology (greentech), and accelerated demand for overseas expansion within SEA.

SMEs demand for greater sustainability-led support

As the 2030 deadline for the United Nations (UN) Sustainable Development Goals (SDGs) approaches, Southeast Asia continues to struggle with environmental and economic challenges. The effects of climate change, from extreme weather to rising sea levels, are the biggest threat to SEA.

It could result in a fall in the region’s GDP by 11 per cent by the end of the century.  Therefore, to retain productivity and profitability, SMEs must assess the impact of climate change on their manpower and business and build the appropriate risk mitigation measures.

Such measures include advocating for greater support in financing, policy and employment regulations for sustainability practices. At a regional level, the Association of Southeast Asian Nations (ASEAN) adopted the ASEAN Strategy for Carbon Neutrality in mid-2023, highlighting eight areas that include greening the regional supply chain, connecting green infrastructure and market, enhancing common standards, and facilitating green talent development and mobility.

Also Read: Will climate change force us to re-imagine travel in the future?

However, since different countries have distinct sustainability concerns, localised support is also crucial for SMEs. Consequently, SEA nations such as Singapore have launched the Financing Asia’s Transition Partnership (“FAST-P”) to mobilise up to US$5 billion for green and transition projects in Asia, while countries across ASEAN introduced various localised initiatives such as Malaysia’s launch of Belanjawan 2023 and Indonesia’s Just Energy Transition Partnership, to name a few.

Rising greentech for greener consumers

Beyond capital and operational support for sustainable incentives, SMEs in Southeast Asia are driving greater sustainability-centric innovations for profitability, with greentech taking centre stage it appeals to the growing eco-consciousness of the region’s consumers who believe that their individual purchasing decisions can contribute to a significant impact on the wider environment.

To expedite GreenTech innovation launches, SEA hosts a variety of accelerator and incubator programmes that are collaborative in nature, bringing together support in terms of funding, mentorship and piloting.

Regional accelerators such as UOB FinLab’s Greentech Accelerator are well-suited to utilising more extensive networks, which can broaden the scope of expertise, mentorship, and pilot support for SMEs and their green innovation ambitions.

On the other hand, local-level accelerators have the advantage of involving local academic institutions, government ministries, and innovation piloting centres that are more geographically accessible for SMEs. Such was the case with Enterprise Singapore’s Enterprise Sustainability Programme, Vietnam’s Greentech Incubator, and the Agri-Aqua Technology Business Incubation (ATBI) programme in the Philippines.  

The three aforementioned countries, as well as others in Southeast Asia, are at varying degrees of sustainable technology adoption. Nonetheless, the growing presence of innovation accelerators focused on enhancing SMEs’ potential to launch greentech illustrates a shared purpose among countries: to leverage the vastness of their respective SME networks to bring more GreenTech innovation to market for the benefit of their population and the economies.

SMEs to leverage digitalisation for regional expansion

Sustainable development, rapid urbanisation, and digital transformation have all contributed to Southeast Asia’s reputation as an ideal market for business. SMEs are aware of these benefits, with 60% expressing a desire to prioritise regional SEA expansion through 2026, according to the UOB Business Outlook Study 2024. Such expansive mindsets can also be attributed to the revitalised consumer travel in Southeast Asia, which has been on the rise since the region began to recover from the COVID-19 pandemic.

However, trade tensions and restrictions in Southeast Asia can make such regional expansion difficult, prompting SMEs to seek out novel and borderless expansion opportunities, such as digitalisation. Southeast Asia’s digital economy consists of five key sectors: e-commerce, travel, food and transportation, online media, and digital financial services. These sectors have a significant profit potential, with combined revenues reaching an estimated US$100 billion in 2023.

Also Read: The climate change and gender equality connection: How to support underfunded women-owned business

Beyond profit prospects, sustainable factors such as bridging the economic divide can motivate such expansion. ASEAN recently announced implementing a new regional cross-border payment system that allows users to conduct cross-border transactions in Indonesia, Malaysia, Thailand, and Singapore using only a QR code. Not only does this method help streamline payment processes, but it also enables SMEs to easily reach underprivileged communities throughout Southeast Asia.  

Another driver of rising SME expansion-based digitalisation is the increasing support of diverse industry players. For example, tech providers such as cloud providers, system integrators, and cybersecurity specialists have been crucial in assisting SMEs to counter market-proven digital challenges such as lack of digital skill sets among employees and concerns over cyber-security issues.

Furthermore, multinational corporation (MNC) support through foreign direct investment (FDI) can be crucial for SME digitisation because it provides the optimal channel of global networks, research and development (R&D), and accumulated expertise to fill in any gaps of knowledge and resources that SMEs might lack.

A positive outlook for SMEs in Southeast Asia

Overall, while some common issues for SMEs persist, such as access and capital flows, there is hope that old problems can be overcome with new solutions based on sustainability-focused initiatives, novel technologies, and widespread support from the public and private sectors. SMEs in Southeast Asia are an intriguing space to watch, and UOB will continue to keep an eye on new developments.

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In today’s digital world, where threats lurk around every corner, protecting your organisation’s data and systems is paramount. However, navigating the intricate world of cybersecurity solutions can be overwhelming and filled with acronyms like EPP, EDR, MDR, and XDR.

Understanding the distinct roles each plays is key to building a robust defence against cyber threats. This article aims to simplify your cybersecurity understanding of these solutions using clear and relatable analogies.

Endpoint Protection Platform (EPP): Your digital doorman 

Imagine Endpoint Protection Platforms (EPP) as the diligent doorman guarding your organisation’s digital entryway. They act as the first line of defence, meticulously checking incoming traffic and preventing known threats like malware and viruses from infiltrating your endpoints (devices like laptops, desktops, and servers) in the first place. Think of them as the initial security checkpoint, ensuring only authorised individuals and information enter your network.

Endpoint Detection and Response (EDR): Investigating suspicious activity 

If a threat bypasses the doorman (EPP), Endpoint Detection and Response (EDR) steps in as the investigative team. It continuously monitors your endpoints for suspicious activities, like unauthorised access attempts or unusual file behaviour.

When EDR detects something fishy, it alerts your security team, providing them with the necessary information to investigate and respond swiftly. Think of them as the security detectives who delve deeper, looking for hidden threats that might have slipped past the initial check.

Managed Detection and Response (MDR): Cybersecurity as-a-service

For organisations lacking the internal expertise or resources to manage their own EDR, Managed Detection and Response (MDR) acts as the dedicated security team. It offers the same investigative capabilities as EDR but with the added benefit of 24/7 monitoring and response by a team of security professionals.

Also Read: Securing tomorrow’s finances: Navigating the rise of digital banks with cybersecurity

They handle the entire process, from threat detection and mitigation to elimination and remediation, freeing up your internal resources for other critical tasks. Think of them as the outsourced security experts, providing continuous vigilance and taking decisive action against potential threats.

Extended Detection and Response (XDR): Seeing the bigger picture 

Extended Detection and Response (XDR) takes security a step further, acting as a central command centre. It goes beyond just endpoints and gathers data from a broader range of security tools across your entire IT infrastructure, encompassing networks, cloud workloads, email, user activities, and more.

By analysing this holistic view, XDR can identify hidden threats and potential vulnerabilities that individual tools might miss, providing a comprehensive understanding of your security posture. Think of them as the central hub that gathers information from all corners of your digital landscape, offering a unified view of potential security risks.

Nightclub security: Analogy for cybersecurity solutions

Still confused with those technical explanations. Let’s make it simple. Imagine a bustling nightclub with different security measures in place:

• Door bouncers (EPP): These are your first line of defence. They check IDs, prevent suspicious people from entering, and stop them from bringing in illegal items. In the cybersecurity world, Endpoint Protection Platforms (EPP) act similarly, safeguarding your network by blocking known threats and malware at the entry point (endpoints like laptops and servers).
• Security patrol (EDR): Once patrons enter, an internal security team keeps an eye on things inside the club. They monitor for suspicious behaviour, identify troublemakers, and take action to address any issues. Endpoint Detection and Response (EDR) works the same way in cybersecurity. It continuously monitors your endpoints for unusual activities and potential threats and alerts your security team for investigation and response.
• 24/7 security service (MDR): If you don’t have your own security staff, you can hire a security company to manage your nightclub security. They provide 24/7 monitoring, threat detection, and response. Similarly, Managed Detection and Response (MDR) is a service offered by security professionals who handle threat monitoring, mitigation, and remediation for organisations lacking internal security expertise.
• Central control room (XDR): A central command centre oversees the entire security operation of the nightclub. It collects data from various sources, like security cameras and bouncers’ reports, to get a unified view of everything happening. Extended Detection and Response (XDR) functions similarly in cybersecurity. It gathers data from various security tools across your network (firewalls, email security, etc.) to provide a comprehensive view of your security posture and identify hidden threats.

Also Read: How an AI cybersecurity company harnesses the power of AI for optimal business performance

Choosing the right cybersecurity solution

The best solution for your organisation depends on your specific needs and resources. Here’s a quick guide to help you choose:

• EPP: Offers basic protection against known threats, ideal for organisations with limited security needs.
• EDR: Suitable for organisations with an internal security team seeking deeper insights into endpoint activity and the ability to investigate potential threats.
• MDR: Provides the same investigative capabilities as EDR but with the added benefit of 24/7 monitoring and response by security professionals. Ideal for organisations lacking in-house expertise or requiring constant vigilance.
• XDR: Offers a comprehensive view of your organisation’s security posture by collecting data from various security tools across your network. Best suited for organisations seeking a holistic understanding of their security landscape and wanting to leverage insights from multiple tools.

Remember, a strong cybersecurity strategy involves layering different tools. Combining these solutions strategically creates a robust defence mechanism, safeguarding your organisation against ever-evolving cyber threats. Understanding the differences between EPP, EDR, MDR, and XDR empowers you to make informed decisions and build optimal protection for your organisation.

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

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