Innovation and survival are often seen as separate pursuits. However, amidst macroeconomic uncertainties, it becomes evident that the future of innovation hinges on the ability to survive and thrive through tumultuous times.

Analysing the trajectories of established corporations such as Canva and Salesforce reveals a crucial lesson: resilience is rooted in solid fundamentals, not just innovative prowess.

The essence of resilience in established corporations

Companies like Salesforce and Canva epitomise resilience in the modern corporate world, navigating through economic challenges with robust business models and sound financial management.

Salesforce, a leader in CRM solutions, has shown impressive growth over the years. Their revenue for the fiscal year 2023 was approximately US$31.35 billion, a testament to their strong customer relationships and innovative cloud-based services. Their success lies in adapting to the evolving digital landscape, and consistently expanding their service offerings.

Canva, on the other hand, has revolutionized graphic design with its user-friendly platform. From its inception in 2012, Canva has experienced exponential growth. By 2023, Canva was valued at US$39 billion, reflecting its massive user base and the high demand for accessible design tools.

Also Read: 

These companies demonstrate that resilience in business is not just about innovation but also about building a sustainable, customer-focused business model, financial prudence, and the capacity to adapt to changing market conditions.

The advantaged edtech startups have

Shifting the focus to the education sector, companies in this space are uniquely positioned to maintain strong cash flow positions. The inherent demand for education and upskilling, especially during challenging times, provides these companies with a resilient business model.

This is particularly relevant in today’s landscape, where continuous learning and professional development are valued and necessary.

Also Read: 

In the education sector, companies are well-placed to achieve sustainable cash flow, thanks to several key factors.

Firstly, there is an inherent and ongoing demand for education and upskilling. This need intensifies during challenging economic periods, as individuals seek to enhance their skills to remain competitive. Furthermore, the shift towards remote learning and digital platforms has opened up new revenue streams for these companies.

Additionally, the recurring revenue model, often seen in subscription-based online courses and training programs, offers predictable and steady cash flow. The scalability of digital education platforms also allows these companies to expand their reach without proportionately increasing costs, optimizing for financial sustainability.

Looking at Open Campus’s portfolio, companies like Collective, Rise In, and Atiom exemplify the synergy of innovation and strong fundamentals.

Collective, a market leader in LATAM for business programs, has made significant strides in education, adapting to market needs and focusing on high-demand skills. Their approach emphasizes not just brand building but also establishing a sustainable business model.

Rise In, a leading Web3 boot camp, partners with blockchain protocols to provide cutting-edge education. This strategic alliance positions them at the forefront of technological education, catering to an emerging and rapidly growing field.

Atiom, an AI-powered tech company, serves global hospitality organizations with its behavioural change technology. Their focus on a niche yet essential aspect of hospitality underscores the importance of specialisation and innovation in a specific vertical.

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These companies are not just creating timeless brands; they are refining their core business fundamentals to ensure they can withstand economic challenges.

A new paradigm for startups

The startup environment is undergoing a paradigm shift. Gone are the days when continual capital raising was the mainstay of startup growth strategies. Now, the focus is pivoting towards building solid business fundamentals.

Startups are now tasked with developing sustainable business models, managing cash flows with greater care, and charting a definitive course towards profitability. The goal has shifted from pursuing rapid growth at any cost to embracing smart, sustainable growth strategies.

Taking cues from established business practices, startups can learn valuable lessons. Emulating the financial discipline, customer-centric approaches, and strategic planning of successful corporations could provide a roadmap for long-term success.

These companies prioritize building a loyal customer base, investing in product innovation, and maintaining financial health over quick wins, offering a template for startups to balance growth aspirations with operational stability.

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The future of innovation lies in the ability to survive and adapt. Companies– historical giants or modern startups, must prioritise solid business fundamentals alongside their innovative endeavours.

For startups, especially in the current economic climate, the focus must shift from relentless capital raising to establishing a resilient and sustainable business model. By doing so, they can ensure survival and the ability to thrive in the face of future challenges.

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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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e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our newly introduced ‘Contributor Spotlight’, we shine a weekly spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

This episode features Georg Chmiel, Co-Founder and Chair of Juwai-IQI Holdings, a proptech group in Southeast Asia. He is also Co-Founder and Executive Chair of Chmiel Global Advisory, a boutique advisory business.

A valued contributor, Chmiel joined our community in 2021 and has remained actively engaged,   accumulating over 27,000 content views.

Chmiel shares his personal and professional journey in this episode of Contributor Spotlight.

The driving force

With 30 years of experience in fast-growing online businesses, Chmiel led over 35 acquisitions and experienced seven takeovers. He played a key role in establishing three unicorns, consistently enhancing shareholder value. Based in Malaysia for the past 12 years, he has focused on the ASEAN and ANZ markets.

As a participant in the e27 Contributor Programme, Chmiel expresses his honour in engaging with a diverse audience, providing unique insights, and participating in relevant conversations that potentially impact the industry’s future.

“I’m excited to share my knowledge and expertise with a platform that promotes entrepreneurship. The platform’s dedication to encouraging entrepreneurship, technology, and business closely matches my own professional beliefs,” he said candidly.

Also Read: Scaling up? Here’s the 5-point health check for hyper-growth businesses

Thoughts, goals, and journey

In the early stages of his career, Chmiel, recognising the dynamic nature of the business landscape, immersed himself, gained hands-on experience, and climbed the ranks through hard work and collaboration.

Leading a talented team, Chmiel’s professional goals include driving sustainable growth, expanding market presence, and embracing technological advancements. On a personal level, he is committed to maintaining a healthy work-life balance, continual learning, and serving as a mentor for aspiring professionals in the industry.

Chmiel’s expertise lies in online platforms and ecosystems, specifically focusing on what he terms ‘eco-corns’. “Coined to represent platforms dedicated to empowerment and fostering an inclusive workforce, regardless of geographical constraints, these ecosystems aim to break down traditional barriers and enhance collaboration,” he expressed.

In this realm, Chmiel notes recent trends and developments, such as:

• Remote work revolution: Eco-corns facilitate the global shift towards remote work. These platforms provide tools that enable seamless collaboration among team members, irrespective of their physical location.
• Inclusive workforce practices: There is a growing emphasis on creating platforms prioritising diversity and inclusivity. Eco-corns are integrating features to ensure equal opportunities for individuals from various backgrounds, fostering a more equitable work environment.
• Technological integration: Rapid technological advancements, such as artificial intelligence and machine learning, are harnessed within eco-corns to enhance productivity and streamline workflows. These platforms leverage cutting-edge tools to create efficient and effective work ecosystems.
• Focus on well-being: Eco-corns recognise the importance of employee well-being and incorporate features that promote work-life balance, mental health support, and overall employee satisfaction. This trend aligns with the changing expectations and priorities of the modern workforce.
• Global talent pools: By eliminating geographical constraints, eco-corns are tapping into global talent pools. This brings diverse perspectives to the table and allows organisations to access a broader range of skills and expertise.

“In essence, the evolution of online platforms and ecosystems, particularly within the realm of eco-corns, reflects a broader movement towards a more inclusive, technologically advanced, and people-centric approach to work. This aligns seamlessly with the changing dynamics of the modern workforce and the ongoing digital transformation in various industries,” he adds.

Also Read: Should ChatGPT chat with your customers?

Advice for budding thought leaders

Becoming a thought leader involves cultivating various skills. Chmiel advises aspiring thought leaders to enhance their expertise through:

• Mastering your domain
• Ensuring clear and consistent communication
• Making regular contributions to industry platforms
• Engaging with your audience
• Embracing authenticity
• Adapting communication styles
• Honing the art of storytelling
• Incorporating visuals for impact
• Building a strong professional network
• Embracing feedback for continuous improvement

“Also, always remember there are no ‘short-cuts’, and any ‘short-cut’ taken usually comes at a price, so you just delay the effort,” he appends.

Juggling too many things?

Chmiel, in his approach to maintaining equilibrium, emphasizes prioritization, effective time management, delegation to empower teams, setting boundaries between work and personal life, and placing significant emphasis on physical and mental well-being.

Also Read: ESG empowerment: Fueling Malaysia’s SMEs for a sustainable future

His strategy includes leaving ample time every morning for some activity. He suggests incorporating strategies such as active networking and reflective practices, which involve being honest with oneself. These methods are essential for assessing progress and making necessary personal and professional development adjustments.

Staying in the loop

In his ever-changing field, Chmiel recognises that staying ahead demands implementing a diversified strategy.

“I actively participate in online platforms, attend conferences, network with colleagues in the industry, subscribe to pertinent publications, follow social media for up-to-date information, and attend webinars and online courses to stay up to date on the latest advancements,” he said.

Chmiel recommends exploring books such as Platform Revolution and The Lean Startup for deeper insights into online platforms and ecosystems. He suggests visiting websites like Harvard Business Review, TechCrunch, and e27 for ongoing updates, analyses, and perspectives on industry trends.

“In navigating the dynamic landscape of today’s industries, my parting advice is to embrace continuous learning and adaptability. Success is often built on resilience, collaboration, and a steadfast commitment to personal and professional growth. Connect with like-minded individuals, share your insights, and strive to leave a positive mark on the world through your contributions and endeavours,” Chmiel concluded.

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Are you ready to be a part of a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem. 

The post Spotlighting Georg Chmiel: Championing inclusive work ecosystems in Southeast Asia appeared first on e27.

Startup Genome and the Global Entrepreneurship Network today announced the special climate tech edition of The Global Startup Ecosystem Report during the 28th session of the Conference of the Parties (COP28) to the United Nations
Framework Convention on Climate Change (UNFCCC).

The report aims to explore the potential of Cleantech and the Blue Economy, examining the current state of startup activity and associated investments in those sectors and rankings reflecting which global ecosystems are currently driving innovation.

“This report is a combined edition examining both Cleantech and the Blue Economy, two tech startup sub-sectors that are closely interlinked but have unique characteristics. Cleantech refers to sustainable solutions in the fields of energy, water, transportation, agriculture, and manufacturing that include advanced materials, smart grids, water treatment, efficient energy storage, and distributed energy systems. The Blue Economy is defined as the sustainable use of ocean resources for economic growth, improved livelihoods, and job creation while preserving the health of the ocean ecosystem,” it elaborates.

Also Read: India and Southeast Asia’s climate tech sector set to reach US$350B by 2030

According to the report, in the Cleantech ecosystem categories, Singapore moved up an impressive 18 places, from number 26 to eight, and is the only Asian ecosystem in the top 10.

Meanwhile, Silicon Valley and London remained the world’s leading cleantech ecosystems, at number one and two, respectively.

The report also mentioned that Singapore remains the “world-leading” startup ecosystem for the Blue Economy thanks to
its high number of relevant startups and its strong university support for Blue Economy innovation.

Find more details about the global data in the following infographic.

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Image Credit: RunwayML

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In the rapidly evolving landscape of technology, exploring learning opportunities is paramount for achieving digital growth, especially in the age of generative AI. As artificial intelligence continues to advance, businesses are presented with unprecedented opportunities to leverage data-driven insights and automate complex processes. As such, understanding and harnessing the power of generative AI is crucial for staying competitive. Learning how to effectively integrate generative AI into the whole data ecosystem is a key component of this journey, as this directly impacts scalability.

As one of the critical aspects of digital growth is generative AI, database scalability plays a pivotal role in optimising this growth. Traditional approaches to database management often face challenges in handling the massive volumes of data generated in today’s interconnected world.

Generative AI offers innovative solutions by enabling automated data processing, adaptive algorithms, and intelligent decision-making. By exploring learning opportunities in this domain, individuals and organisations can unlock the potential for seamless database scalability, ensuring that systems can efficiently handle growing datasets while maintaining performance and responsiveness. This proactive approach fosters a deeper understanding of generative AI and empowers professionals to architect robust and scalable digital infrastructures that are essential for sustainable growth in the modern era.

Challenges in harnessing generative AI

Exploring learning opportunities for generative AI presents significant challenges, particularly in terms of the lack of access to actionable insights. One primary obstacle is the scarcity of comprehensive and accessible educational resources that cater to organisations that want to learn the ropes around applying generative AI principles within the business framework.

The intricate nature of AI technologies demands resources that provide practical insights, hands-on experiences, and probe real-world applications, which are often scarce or confined to specialised environments. This limitation impedes the ability of organisations to bridge the gap between theoretical knowledge and practical implementation, hindering their capacity to fully grasp the intricacies of generative AI.

Additionally, the rapidly evolving landscape of generative AI introduces another challenge — the struggle to keep learning materials current and relevant. Given the swift pace of advancements in AI technologies, learning resources have to constantly evolve and adapt according to the available technologies of the time.

Also read: Taiwan tech companies eye regional expansion in Southeast Asia

Organisations aiming to explore learning opportunities in generative AI may find it challenging to stay abreast of the latest developments, as traditional educational structures often lag behind the industry’s rapid progress. This lack of access to timely insights not only hampers the effectiveness of learning experiences but also underscores the need for flexible and dynamic educational models that can adapt to the ever-changing landscape of generative AI. Moreover, cutting-edge technologies that facilitate the seamless integration of generative AI into database management is a key step towards achieving effective results. By exploring tools that are tailored to the specific needs of the organisation, professionals can streamline workflows, enhance data processing capabilities, and ultimately drive efficiency.

The right tools not only enable the harnessing of generative AI but also ensure that resources are utilised to their full potential, minimising bottlenecks and maximising the impact of digital growth initiatives. In this dynamic landscape, the careful selection and adept utilisation of tools and resources become a linchpin for organisations seeking to navigate the complexities of generative AI and database scalability, ultimately leading to sustained success in the digital realm.

Unleash Growth Potential with AWS, IMDA, and TiDB

With the goal of bridging this knowledge gap and catalysing growth among companies by providing access to the latest tools, resources, and insights on Generative AI, PingCAP, in partnership with AWS, IMDA, and TiDB, is launching an event entitled Tech Meetup Singapore: Unleash Growth Potential with AWS, IMDA, and TiDB to be held at the AWS Singapore office on Wednesday, December 6th.

At the event, participants will learn straight from industry experts including Zac Lin, Head of Business Development and Partnership for APAC at PingCAP, Andrew Ren, Senior Solutions Architect at AWS, Vivian Lau, Account Manager at AWS, and Tan Qi Sheng, Manager at Enterprise and Ecosystem Development (EED).

Zac Lin of PingCAP will be discussing “Database Scalability in the World of Gen-AI” where participants can explore the transformative role of open-source technology, focusing on AI integration and data ecosystems. Learn how these innovations drive growth and innovation in Singapore’s tech sector.

Also read: Bridging Japan and Southeast Asia’s tech landscapes through the ME Innovation Fund

Vivian Lau and Andrew Ren of AWS will be providing insights on “Technology and Tools for Growth” where ecosystem stakeholders can discover how AWS’s GenAI Services and Credit Programs can elevate your business.

Meanwhile, Tan Qi Sheng of IMDA will be talking about “Empowering Innovation: IMDA’s Role in Elevating Singapore’s Tech Ecosystem” where participants can better understand the impact of IMDA’s Accreditation and Spark Program on local businesses and the support provided through the Tech Acceleration Lab.

Apart from the rich discussions, the event provides a unique opportunity for attendees to engage in an exclusive networking session with industry leaders and experts. This special segment allows participants to connect with key figures who have made significant strides in the industry.

Attendees can take advantage of this unique opportunity to build potential partnerships, exchange insights, and gain valuable perspectives from those at the forefront of technological innovation.

About the partners

The event is spearheaded by PingCAP, the company behind TiDB, the most advanced open-source, distributed SQL database for building scalable modern apps. TiDB supports Hybrid Transactional and Analytical Processing (HTAP) workloads that are MySQL-compatible and features horizontal scalability, strong consistency, and high availability.

Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud, offering over 200 fully featured services from data centres globally. Millions of customers — including the fastest-growing startups, largest enterprises, and leading government agencies — are using AWS to lower costs, become more agile, and innovate faster.

On 27th, November, PingCAP was recognised with two prestigious awards at AWS re:Invent 2023:

• Marketplace Partner of the Year – GCR
• ISV Partner of the Year – GCR

PingCAP is also a proud participant in AWS re:Invent 2023 from November 27 to December 1 in Las Vegas, NV. Meet the team at Booth 1032 to explore next-gen scalability solutions and application development in the era of AI.

Also read: Expanding the possibilities of metaverse with RAPUTA

The Infocomm Media Development Authority (IMDA ) develops and regulates the infocomm and media sectors to create a dynamic, holistic, and exciting ecosystem filled with growth opportunities through talent, research, innovation and enterprise. Singapore has laid the foundation for a thriving ecosystem. As Architects of Singapore’s Digital Future, we strive to ensure businesses, the workforce and the public are ready for a future enabled by infocomm and digital media.

As a statutory board in the Singapore government, we seek to deepen regulatory capabilities for a converged infocomm media sector to safeguard the interests of consumers and foster pro-enterprise regulations. Amid the growing use of data, we will also continue to support data protection and innovation in Singapore through our Personal Data Protection Commission to boost public confidence in how personal data is used in the private sector.

To become part of Tech Meetup Singapore: Unleash Growth Potential with AWS, IMDA, and TiDB, you can reserve your slot today.

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

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Amidst the growing threat of cyber attacks, businesses find themselves at a critical juncture: deciding whether to pay ransoms to hackers or take a stand against cyber extortion. This pivotal decision aligns with global efforts led by the UK, Singapore, and the US-led alliance.

In the discussion, we’ll delve into ten compelling reasons why abstaining from ransom payments not only supports these global initiatives but is also paramount in the ongoing battle against cybercrime.

Ransomware attacks pose a significant peril to businesses, effectively barring access to their systems and, in severe instances, leading to permanent closures. Confronted with these risks, businesses often contemplate the option of paying hackers to recover their data.

However, as we’ll elaborate in this post, the general consensus is a resounding no. Unless there is no alternative for survival, businesses should refrain from paying ransoms.

Here are 10 reasons why your company should not pay ransom to hackers:

Global initiatives against ransom payments

• International consensus by the Counter Ransomware Initiative (CRI): Members of the CRI, including influential nations like the UK and Singapore, have collectively pledged not to use central government funds for ransom payments. This joint statement signifies a global consensus against financially supporting cybercriminals through ransom payments.
• US-led international counter ransomware initiative: The US-led alliance involving forty countries plans to sign a pledge, committing to never pay ransoms to cybercriminals. This initiative aims not only to discourage ransom payments but also to collaboratively work towards dismantling the funding mechanisms that sustain hackers globally.

No guarantee of data integrity

Many ransomware victims often operate under the assumption that paying the demanded ransom will ensure the restoration of access to their data and systems, a process that proves successful in many instances.

Also Read: Two decades of digital defence: Why cybersecurity must remain a top concern for everyone

However, a significant number of cases reveal a harsh reality: organisations, despite paying the ransom, find that the decryption key provided is either ineffective or the retrieved data remains unusable. 

Despite the backing of international initiatives, ransom payments provide no assured path to data recovery, intensifying the apprehension surrounding the possibility of irreparable data loss.

Financial fuel for criminal enterprises

Paying ransom may get your data back, but that money funds more cybercrime. Attackers use it to create advanced ransomware, leading to more cyber threats. Global efforts stress that paying unintentionally supports criminal growth and worsens the overall cyber threat situation.

Maintaining ethical integrity

Aligning with global anti-ransom efforts helps companies maintain their ethical reputation and avoid compromising with criminals, preserving trust and reputation. It’s a principled stance that safeguards a company’s standing in the eyes of its stakeholders.

Legal and regulatory consequences

The global stance against ransom payments reinforces the legal and regulatory consequences companies may face, regardless of their geographical location, emphasising the need for adherence to international laws.

Perpetuating the ransomware industry

Ransomware payments can fuel innovation in the malware industry as threat actors persist with basic ransomware tools. A noteworthy trend has emerged, with some adopting highly sophisticated malware, exemplified by the BlackCat gang’s recent advanced ransomware tool. This evolution underscores the interconnected nature of global cyber threats and reinforces the urgency for unified international efforts against ransom payments.

Increased likelihood of repeat attacks

Many organisations, lacking data backups for recovery or seeking to avoid operational disruptions, often succumb to ransom demands. However, security experts caution against this practice, emphasising that paying attackers not only fails to deter further attacks but also heightens the risk of becoming a repeat target. Threat actors perceive a company that has paid once as more likely to pay again in subsequent attacks, as highlighted by both the CRI and the US-led alliance.

Also Read: The business edge: Why prioritising employee cybersecurity is a smart investment

Neglect of cybersecurity improvement

Amid the worldwide effort to discourage ransom payments, it becomes evident that emphasising cybersecurity improvement, rather than depending on short-term reactive measures, is crucial for long-term resilience against evolving cyber threats. This strategic focus aligns with the global commitment to break the cycle of ransom payments and fortify collective defences in the digital realm.

Undermining collaborative efforts

Aligning with international initiatives encourages companies to actively participate in collaborative efforts, share threat intelligence, and report incidents to law enforcement for a united front against cybercrime.

Strategic focus on long-term resilience

By adhering to international pledges against ransom payments, companies reinforce the strategic imperative to prioritise long-term resilience over short-term concessions, contributing to a more secure digital landscape globally.

Conclusion

In conclusion, the synergy between these global initiatives and the existing reasons underscores the urgent need for a unified, principled stance against paying ransoms, emphasising the shared responsibility in safeguarding the digital realm from cyber threats.

The collaboration of nations against ransom payments reflects a global commitment to breaking the cycle of cybercrime and promoting a secure digital landscape for all.

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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

The post 10 reasons not to pay the ransom in a ransomware attack appeared first on e27.

The concept of stock trading has grown leaps and bounds over the last few decades. Let’s take a trip back to the 17th century. At this point, the idea of ‘trading’ merely existed between merchants and although we saw the birth of stock exchanges which formalised processes, it wasn’t until the 20th century that tech-led trading was implemented.

Fast forward to today, the rise of fintechs and neo-brokers has democratised investing by making it more accessible and affordable for retail investors of all ages and demographics.

This evolution has resulted in rapid innovation to bring more people greater access to a wider range of investment options and has empowered individuals to take control of their financial futures. 

From merchants to tech-led trading

Until recently, investing was often seen as the domain of the wealthy or well-connected. Many alternative asset classes, such as private equity or venture capital, were only available to institutional investors or high-net-worth individuals.

This left many retail investors without access to these potentially lucrative opportunities, limiting their investment options and the potential for portfolio diversification.

Fintechs and neo-brokers have changed the game. By leveraging technology and modernising the investment landscape, they have made investing more accessible and user-friendly than ever before.

Also Read: 

At the click of a button, fintechs and neo-brokers are helping retail investors reach the top shelf by enabling them access to a range of asset classes, including those that were previously out of reach.

The changing landscape of younger customers is another key factor driving the accessibility of investing. A FINRA study for a sample of US investors in 2020 revealed that almost two-thirds of new investors were under 45.

Democratising investing for all ages

With the rise of Millennials and Gen Z, the investment industry is facing a new generation of customers who have grown up in a digital world. These customers are more tech-savvy than their predecessors and are more likely to use digital tools to manage their finances. 

One of the key benefits of these new investment platforms is that they have made investing more affordable. Many traditional investment options, such as managed funds or financial advisors, tend to come with high fees that eat into investors’ returns.

Fintechs and neo-brokers have disrupted this model by offering low-cost and sometimes even commission-free investing options. This makes investing accessible to a wider audience and puts retail investors in control of their investment strategy.

Of course, it’s important to note that investing always comes with risks. However, by providing access to a diverse range of assets, fintechs and neo-brokers are giving retail investors the opportunity to make informed decisions about their investments and build well-diversified portfolios. With the right tools and resources, investing can be a powerful tool for achieving financial goals and building long-term wealth.

Also Read: 

Over time, self-direct trading has gained prevalence over-relying on a financial professional. Online trading, followed by mobile apps, is the most common method for placing trades, according to a study by the National Financial Capability Study (NFCS) in the US.

Younger and newer investors are much more likely to use a mobile app for placing trades than older respondents or more experienced investors.

When making investment decisions, investors most often rely on research and tools provided by brokerage firms, business and finance articles, financial professionals, and friends, family, or colleagues.

Among younger investors, a majority (60 percent) use social media as a source of investment information, compared to 35 percent of those ages 35 to 54, and only 8 percent of those 55 and older.

To meet the changing demands of customers, a range of tools and services have emerged in the market that are easier to use and lower in cost.

These platforms allow customers to invest in a range of products, including stocks, precious metals, exchange-traded funds (ETFs), and cryptocurrencies.

Also Read: 

Many of these platforms are reducing barriers to entry by offering features such as fractional investing, which allows customers to buy a part of the whole shares at amounts as low as US$1. Fractional investing is an example of how Fintechs are making investing more accessible to a wider range of people.

Role of fintech innovations

In the past, buying a single share of stock could be prohibitively expensive for some investors and a basket of five regularly could easily run into a few thousand each month.

However, fractional investments allow them to diversify to a basket of five stocks at US$1 a piece, costing less than your daily coffee, making investing more accessible to a wider range of customers, including those who may not have considered investing in the past.

In addition to fractional investing and transparent fees, Fintechs are able to level up by offering users access to research tools and educational resources to support enhancing their financial literacy.

Similarly, many users are seen moving towards using ETFs to get access to sectors and themes where stock picking is not that straightforward. This has given a tremendous rise to the global Assets under management for ETFs from US$5 Trillion in 2018 to US$10 Trillion in 2022. Players who offer ETFs on a fractional basis are further reducing the barriers to access.

Also Read: 

Overall, the increasing accessibility of investing is a positive development that is empowering retail investors to take control of their finances and build long-term wealth. Fintechs and neo-brokers are leading the charge in this shift, providing easy-to-use digital tools, transparent fees, and educational resources.

With the rise of a younger, tech-savvy generation, it is likely that this trend towards accessibility will only continue to grow as demand increases. As more people realise the benefits of investing, and more platforms emerge to cater to their needs, the investing landscape will continue to evolve, making it easier for anyone to participate in the financial markets. 

–

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: m. on Unsplash

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Globally, human resource (HR) management technology continues to transform and streamline the complete employee life cycle, encompassing recruitment, background screening, and employee management. As per the 2022-2023 HR Systems Survey by Sapient Insights, 54 per cent of businesses with over 500 employees are set to increase their HR tech spending, allocating an average increase of 21 per cent.

Hacking Talents is a digital matching platform that aims to empower organisations with a more agile and competitive workforce. Founded in 2021 by Federica Pasini and Teresa Baldini, the startup offers a tool for implementing impactful engagement activities to promote a fulfilling work experience for employees.

“My extensive seven years of corporate experience, including diverse roles within HR, illuminated the challenges HR departments face in implementing effective people strategies and engagement initiatives. Recognising the widespread dissatisfaction with work, as highlighted by the alarming 85 per cent disapproval rate in Gallup research, I was inspired to address this issue at its core,” said Pasini.

Hacking Talents’s distinct offerings

At the core of the company’s strategy is its digital platform, a tool for personalised professional development. It strategically matches employees with professional coaches, communication experts, or mentors, expediting individual growth trajectories and sharing insights with the organisation.

The platform uses algorithms to assess professional skills, communication styles, and career goals, facilitating personalised and effective development journeys. Incorporating adaptive learning technologies and data analytics refines content and recommendations, optimising the impact of training programs.

Also Read: Team performance unlocked: Harnessing chronotypes for startup synergy

In addition, through targeted coaching and mentorship, the initiative strives to instil emotional intelligence in employees, fostering stronger interpersonal connections and cultivating a workplace environment conducive to collaboration and success.

Unlike other platforms, it pairs employees with expert coaches and mentors while integrating generative AI for HR insights. This dual approach offers a holistic solution addressing personal growth and organisational goals.

“The rise of personalised professional development aligns with our commitment to individualised coaching and mentoring. Capitalising on this trend, we aim to refine matching algorithms for enhanced personalisation. The increasing demand for data-driven HR decisions offers an opportunity for service expansion. We also plan to integrate generative AI for HR, leveraging advanced analytics to enable more informed decision-making in people strategy,” expressed Pasini.

Hacking Talents’s current monetisation strategy centres on a tiered subscription model, offering organisations access to their professional development platform.

The company’s evolved strategy includes a premium tier that provides access to an HR dashboard, which allows HR professionals to define and track key performance indicators (KPIs) related to employee development and engagement.

Navigating challenges in shifting HR dynamics

Establishing Hacking Talents presented challenges, particularly navigating the evolving HR landscape and addressing the market need. Initially, there was resistance to perceiving HR beyond its traditional administrative function.

Also Read: Why HR tech will make Asia’s next unicorns

“To overcome this, we undertook extensive market research and engaged with HR professionals to demonstrate the increasing strategic importance of HR in fostering employee development and organisational success.

“Aligning our platform with the evolving needs of HR meant continuous adaptation. We invested in staying ahead of market trends, ensuring that Hacking Talents addressed the current demands for personalised professional development and anticipated future shifts in HR towards a more strategic role,” added Pasini.

Funding milestones, revenue growth, and future ventures

In September 2023, Hacking Talents raised US$290,000 from Italian VC firm LVenture Group and angel investors. This initial capital played a crucial role in developing the minimum viable product (MVP) and validating the value proposition in the market.

“The fruitful outcome of our efforts is reflected in exceeding US$120k in revenues by the end of this year, boasting a clientele of 10 customers, three of whom have committed to recurring contracts. Looking ahead, we are gearing up for our next phase of growth and innovation,” said Pasini.

Hacking Talents also participated in the Global Startup Programme organised by the Italian Trade Agency (ITA) and the Ministry of Foreign Affairs and International Cooperation.

In 2024, the company aims to raise US$1.5 million to scale its product and anticipates engaging in significant projects, partnerships, and developments in the near future.

Hacking Talents is currently in discussions with key market players, such as headhunters, consultancy firms and HR tech companies, to establish strategic partnerships to enhance the platform’s capabilities and bring valuable expertise into the ecosystem.

The role of Hacking Talents extends beyond traditional training by addressing the crucial aspect of emotional intelligence. The company envisions being closely linked with continuous learning, fostering a sense of professional investment among employees and promoting increased engagement through meaningful workplace relationships.

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Image credit: Hacking Talents

The post Innovation in HR: Hacking Talents’s journey in personalised professional development appeared first on e27.

Singapore-based seed stage-focused VC firm FEBE Ventures has announced the launch of its second fund worth US$75 million.

Otium Capital, an international family office, is the anchor investor. The names of the other Limited Partners have not been disclosed.

Also Read: ‘Airbnb for surgeries’ HDmall gets FEBE Ventures backing to deepen market presence in SEA

The company said in a statement that 90 per cent of Fund II is already committed.

In addition, FEBE also announced a partnership with Tekton Ventures, a Silicon Valley-rooted global seed fund co-founded by Jai Choi and Vincent Worms. Tekton and FEBE will support globally-minded entrepreneurs leveraging technology for global progress, particularly in emerging economies.

FEBE Ventures (an acronym for “For Entrepreneurs, By Entrepreneurs”) was founded in 2019 by Olivier Raussin (a serial entrepreneur and seasoned tech executive at Google and Microsoft), Eric Merlin, and Jean-Marc Merlin.

Nicolas El Baze, a serial entrepreneur and a long-time General Partner at Partech in San
Francisco, and Aditya Pendyala, a tech entrepreneur, have joined the FEB team.

The VC firm focuses on B2B software, B2B marketplaces, health, and sustainability. Fund I, with a corpus of US$30 million, invested in 35 startups globally, including HDMall, Locad, Zenyum, Tindle, Silverbird, and Manatal. Its average cheque size is about US$250,000 for pre-seed startups and US$750,000 for seed-stage firms.

Also Read: Locad rakes in US$11M to build supply chain network across APAC

FEBE Ventures has team members across Southeast Asia, North America, Latin America, and Europe.

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Join the 2024 TOP100 program here!

This 2024, the highly anticipated TOP100 program is coming back bigger than ever. The annual event is known for being a game-changer for cutting-edge startups across Southeast Asia, providing startups benefits far beyond mere recognition.

The 2024 TOP100 program promises participants a treasure trove of perks — from invaluable mentorship opportunities and involvement in business matching to the potential to secure vital investments. Tailored specifically for startups, this program serves as a catalyst for those whose mission is to broaden their business horizons and pursue sustainable growth.

Having been incepted in 2012, the TOP100 program has firmly established itself as a cornerstone in the growth journeys of countless startups in the Southeast Asian tech startup ecosystem. Initially crafted to spot promising startups and facilitate funding, TOP100 has undergone a transformative evolution of becoming a comprehensive ecosystem enabler, fostering innovation, entrepreneurship, and collaboration among industry leaders, investors, emerging startups, and other relevant stakeholders.

Adapting to the dynamic entrepreneurial landscape, TOP100 has expanded its scope, embracing various facets of startup development through a holistic strategy encompassing initiatives like mentorship programs, educational pursuits, and networking events. Together, these diverse components contribute to the well-rounded development of startups, furnishing them not only with essential financial backing but also with vital knowledge, guidance, and connections crucial for sustained growth.

A bigger and bolder TOP100 this 2024

Over the years, the TOP100 program has been a breeding ground for startup success, having showcased some of the most notable unicorns and other exciting startups throughout the history of the program. As the Southeast Asian ecosystem shifts into a new era of growth ushering in a wave of new startups, the TOP100 program has adjusted to meet their changing requirements.

In 2024, TOP100 is transforming, becoming a growth-focused program meticulously designed to provide startups with a crucial platform for sustainable expansion across the region. Beyond the conventional role of connecting startups with online and onsite investors, e27’s commitment to supporting startups has grown tremendously.

Also read: Achieve your fundraising goals through the 2024 TOP100 program

Recognising the diverse needs of emerging companies, the team behind the project has broadened the TOP100 program, introducing a comprehensive range of services dedicated to fostering holistic growth. This all-encompassing approach includes coaching-based mentorship, participation in exclusive events, and media training. Furthermore, the program amplifies business matching through various initiatives and partnerships, optimising visibility within the tech startup ecosystem.

At e27, we believe bridging the knowledge gap is one of the most important components of startup growth. This is why the TOP100 program is dedicated to helping provide startups with access to some of the sharpest insights from industry experts.

Actionable insights: A key ingredient in startup growth

Startups striving for expansion need more than just raw data; they require nuanced, actionable information that translates into strategic decision-making. These insights provide a roadmap for navigating market trends, understanding consumer behaviour, and identifying potential obstacles. Bridging the knowledge gap by tapping into practical, implementable steps empowers startups to make informed choices, minimise risks, and seize opportunities. It’s not just about knowing the right things, it’s about being able to engage with and harness that knowledge that ultimately propels startups forward in their journey of growth.

The knowledge gap is a critical challenge that startups must overcome on the path to expansion. Addressing the knowledge gap in the pursuit of expansion is a critical hurdle for startups, and one effective solution lies in leveraging the valuable insights shared by industry leaders and experts. Often, burgeoning businesses find themselves inundated with a surplus of information, making it challenging to distil meaningful ideas. However, by seeking the perspectives and wisdom of seasoned professionals, startups can bridge this gap more effectively.

Also read: Taiwan tech companies eye regional expansion in Southeast Asia

Industry leaders serve as mentors, providing crucial ideas and perspectives that go beyond mere data. Their experience allows startups to discern meaningful insights tailored to their specific goals and challenges. By tapping into these important ideas, startups not only gain relevant knowledge but also benefit from a nuanced understanding of how to apply this knowledge strategically. This mentorship-driven approach becomes a cornerstone for startups, enabling them to make informed decisions, align actions with strategic objectives, and thrive in competitive markets. The insights shared by industry leaders play a pivotal role in shaping and steering startups toward a trajectory of sustainable growth.

As such, the 2024 TOP100 program is committed to empowering startups by providing them with access to invaluable insights, ideas, perspectives, and strategies. The program serves as a gateway to a wealth of knowledge, connecting startups with industry leaders and experts who will be sharing their unique ideas and perspectives.

TOP100: Empowering startups with industry insights

With all these in mind, the TOP100 program places a strong emphasis on fostering a vibrant exchange of ideas among participating startups. Beyond merely providing access to industry-specific insights, market trends, and valuable data, TOP100 actively cultivates an environment where startups can engage in meaningful conversations with industry leaders and experts.

Putting a premium on the exchange of ideas catalyses innovation and strategic thinking. By connecting startups with seasoned professionals, the program becomes a conduit for the sharing of experiences, perspectives, and innovative strategies. This collaborative approach ensures that startups not only receive essential information but also benefit from diverse insights that can spark creative solutions, ultimately equipping them to adapt, evolve, and thrive in today’s dynamic business landscape.

Also read: Bridging Japan and Southeast Asia’s tech landscapes through the ME Innovation Fund

The TOP100 program, therefore, stands out not only for providing privileged access to strategic information but also for nurturing a community where the exchange of ideas becomes a driving force for growth and success.

Join the 2024 TOP100 program

Applications for the 2024 TOP100 program are ongoing from November 1st to December 1st, 2023. Do you think you have what it takes to be a part of history? Send in your applications today!

For more information on the 2024 TOP100 program, visit our official site today.

The post TOP100: Empowering startups through ideas and insights appeared first on e27.

Blockchain technology is being rapidly used by a variety of sectors, including the education sector. Because of blockchain’s decentralised and secure character, it has become an appropriate solution for tackling issues that arise in the field of education.

It is anticipated that by the year 2024, blockchain technology will influence the education sector in a variety of ways, including the following:

Credentials that are both secure and able to be verified

One of the most significant benefits that blockchain technology has brought to the field of education is the ability to generate digital credentials that are both secure and verifiable. This technology has the potential to assist in putting an end to the widespread problem of fraudulent certificates and degrees.

Utilising the services of a company that specialises in the production of educational apps enables educational institutions to generate digital certificates that are both tamper-proof and simple to validate. It makes it easier and quicker for potential employers to verify the qualifications of prospective employees.

Records of accomplishments that are not hidden

The technology behind blockchain can also be used to help create transparent records of accomplishments. It is possible to accomplish this by developing a decentralised database of academic accomplishments that is open to access by all relevant parties, including students, professors, employers, and educational institutions. It has the potential to increase the accountability and transparency of the educational system.

Enrollment process that is both streamlined and automated

The process of enrolling students can be helped to become more streamlined and automated with the use of blockchain technology. Verifying the identities of students and their academic credentials can be accomplished in educational institutions through the use of platforms based on blockchain technology.

Also Read: Why I think piling on formal education and credentials will not solve the skills gap

This can help educational institutions minimise the amount of administrative work required and eliminate errors. Additionally, it has the potential to assist in the reduction of expenditures and the improvement of overall efficiency within the educational system.

Storage of information that is both secure and decentralised

Data may be stored in a way that is both secure and decentralised by utilising blockchain technology, which can be used by educational institutions. By storing data on a decentralised network, schools can lower the danger of data breaches and increase the security of data pertaining to both students and the institution itself.

In addition to this, it has the potential to assist in increasing data privacy and security, two issues that are becoming increasingly important in the education sector.

Financing and decentralised operations

It is possible for blockchain technology to assist in the creation of decentralised funding and financial aid platforms that are available to students all over the world. Smart contracts may be used on these platforms to automate the distribution of funds and ensure that they are used appropriately.

Blockchain technology may also assist in the reduction of fraud and the increase of transparency that is associated with the distribution of financial aid.

Conclusion

To summarise, by the year 2024, the application of blockchain technology is anticipated to have a substantial influence on the education sector.

The education sector is now confronted with a number of issues, many of which might be alleviated with the use of blockchain technology. These challenges range from the provision of credentials that are both secure and verifiable to the establishment of decentralised funding and financial aid systems.

By making use of the decentralised and secure characteristics of blockchain technology, educational institutions have the potential to increase their efficacy while simultaneously lowering their costs and fostering greater accountability and transparency throughout the education system.

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