We live in an exciting time when it comes to innovation and progress, especially in terms of technology and commerce. Some of our latest tech inventions such as machine learning and artificial intelligence (or AI for short) have had a tremendous impact on every single industry out there.

Education, medicine, travel, banking, you name it, it has been changed beyond recognition by the rise of many technological inventions native to our age. So, it’s no wonder that e-commerce is on the list of industries that have utilised tech to its fullest to grow and meet the needs of the modern customer. 

However, there’s one specific invention that has yet to show the extent to which it has altered how we shop online – the use of voice assistants. Starting with Siri, the world has embraced a new way of communicating with AI entities.

Then came Google Assistant, Amazon’s Alexa, Cortana by Microsoft, Watson for IBM, and Bixby for Samsung. We’re sure there will be more joining their ranks while the existing ones are rapidly becoming more refined to meet our needs and preferences.

Also Read:  How to make a website voice search friendly

Suddenly, there are few homes in the world where “hey Google” hasn’t become a norm for searching for your favourite song online or ordering takeout. And that is why voice assistants are indeed changing the face of e-commerce, one smart feature at a time.

Increasing the security of shopping online

Cybersecurity is a hot topic today, perhaps even more so than in the early years of tech development. Now that we have access to incredibly advanced devices and their complex features, the risks of using them to buy online are all the greater.

We constantly share our most sensitive, private information with brands to purchase from them, such as our credit card information, our physical address, as well as our details. We’re not alone in using this sophisticated equipment since hackers can use the very same superior solutions to tap into this highly sensitive data while it’s being transmitted.

Enter your voice.

Security breaches will always be a possibility, but using your voice for another layer of authentication can help prevent any security leaks and issues. This, in turn, means that users will feel safer to buy online, visit your store knowing that no one can make a purchase without your authentic voice, and come back to your store for more.

That also means that your kids cannot accidentally purchase a thousand dollars’ worth of cookware or toys online without your voice. If Alexa is designed to listen to the parents and ask for their voice command when making a purchase – such accidents can be easily prevented.

Security is indeed a very important piece of the customer experience puzzle. Companies in e-commerce need to invest heavily to increase safety, and voice assistants are one of the most novel ways of doing just that. 

Changing the SEO game for e-commerce

To understand the importance of SEO for online stores, we need numbers that give us a clear view of the current as well as the expected state of e-commerce.

Take Asia, for example, revenue in the e-commerce market amounts to US$975.

This number is expected to grow even more in the future, especially in Singapore, where revenue is expected to show an annual growth rate of 14.9 per cent by 2023.

Another study shows that 58 per cent of internet users in Singapore shop online at least once a month. If a brand sells online in this market, or any specific region in Asia, the brand in question needs to be able to stand out to grab a piece of this multi-billion-dollar pie. And the most effective solution to being noticed is ranking high in the search results.

Also Read: Why hyper-localisation is key to optimising voice-based SEO

What’s more, voice search is one of the growing digital marketing trends in Asia, and more than half of smartphone owners use voice-enabled technology to find information about products.

If a business wants to stand out in Asia to those who use voice search, it would have to use localised, voice-friendly phrases and specific linguistic solutions to make it’s brand more noticeable to search engines and users alike.

That’s why SEO Services in Singapore will differ from those of its neighbouring regions, as brands that are located in this country need to use a strategic approach to become more visible for its voice search users. After all, their numbers are growing, and their search preferences are changing.

If your local users rely on phrases such as “the best pastry shop near me” or “in Singapore”, then your website and your SEO strategy need to reflect those trends. It sounds simple, but it pays to understand the market and its evolution in order to implement the best approach for your specific market and industry.

This will become especially relevant for mobile searches, as more users are switching to shopping on the go, which means relying on portable devices that should boast the same voice features. Having more mobile users means you’ll need a stellar mobile presence combined with local-friendly SEO tactics. 

Personalisation through voice apps

Some of the most notable brands across different industries have noticed how voice search can become their tool for better customer engagement, improved personalised experiences for each customer, and many other improvements across the board. 

Look at the giants such as Tide or Nestle – they have no time to hand-sign letters to customers, and yet, personalisation is a huge deal in their industries.

They make use of voice assistants to personalise their customers’ experiences every step of the way, and most importantly, especially after the purchase. You’d expect the journey to end there, and for brands to let you figure it all out, but with voice assistants, you can integrate your brand features and let them lead the way.

For instance, Nestle has built an app called GoodNes for Amazon’s Alexa to turn a dull cooking session into a culinary adventure with guidelines, tips, and tricks to make it simpler and voice-guided so that you don’t have to use your hands at all.

Another example includes automotive brands that have started using smart features in their vehicles and thus promote safe, streamlined rides with more user-friendly options for you as the driver. How about choosing your favourite tunes by merely telling your voice assistant integrated with your Toyota vehicle what you’re in the mood for.

The life of an average shopper has changed drastically over the past several years. We’ve moved from large keyboards and large screens to pocket-sized touch-screen devices that can recognise your face and your fingerprints.

Now that they can recognise your voice, alongside those home-based smart speakers, e-commerce brands need to step up their game in making themselves known in this voice-dominant world.

–

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

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

Image Credit: Kelly Sikkema

This article was first published on September 24, 2019

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In today’s business world, technology is like the engine pushing companies into a future where everything is about digital advancements and improvements. However, this also results in a formidable challenge — the staggering accumulation of 420.3 million tonnes of e-waste globally, which primarily comes from the disposal of obsolete IT equipment.

Here in Malaysia, we also grapple with our own e-waste challenges, generating approximately 365,000 tonnes of e-waste annually. Clearly, tackling this electronic waste problem is a matter of immediate urgency.

While commendable efforts such as the Environmental Quality (Scheduled Waste) Regulations and even a national e-waste collection day exist, they primarily address the disposal of existing e-waste. What we need more of are proactive measures designed to curtail e-waste at its source, and businesses — as major contributors of e-waste — must recognise their role as catalysts for positive change. Simple operational changes can pave the way for a more sustainable business landscape.

Integrating digital mindfulness into business purchasing decisions

A foundational step in sustainable e-waste management is adopting a mindful approach to purchasing electronic equipment. Many organisations face redundancy issues as different teams independently acquire similar gadgets, leading to the accumulation of surplus electronic devices and eventual e-waste. To address this, businesses should actively seek out electronics manufacturers prioritising Extended Producer Responsibility (EPR) principles.

Also Read: Growing and transforming global greentechs for sustainability

In the ambit of the 12th Malaysia Plan, Prime Minister Anwar Ibrahim has spearheaded the proactive implementation of EPR. From a business-to-business (B2B) standpoint, collaboration with such manufacturers becomes crucial, ensuring that products are not only efficient but also designed with sustainability in mind.

It ensures alignment with environmental goals, regulatory compliance, and corporate social responsibility, fostering a responsible and sustainable business ecosystem that contributes to the nation’s environmental agenda.

Eliminating waste through digital subscriptions to daily software and devices

While responsible purchasing, EPR, and repairs are crucial, a groundbreaking solution gaining prominence is the Device-as-a-Service (DaaS) model. Recognising the shortcomings of our linear economy, where goods are produced, used, and discarded without consideration for consequences, the DaaS model aligns seamlessly with the emerging circular economy. As the global rental market is already growing by a significant 30 per cent, DaaS emerges as a game-changer in acquiring and managing electronic devices sustainably.

DaaS allows businesses to subscribe to devices instead of making outright purchases. This aligns with a circular economy mindset, reducing long-term commitments and ensuring responsible device management.

Complete Human Network (CHN),  as an enterprise mobility company, actively contributes to reducing e-waste through the DaaS model, collaborating with industry leaders and various ecosystem partners. The scalability and flexibility of DaaS make it accessible for businesses of all sizes, empowering them to contribute to a more sustainable future.

The CHN DaaS methodology has showcased proven success through widespread adoption across diverse sectors, including financial services, banking and insurance, aviation, government, education, and POS retail. This adoption has been substantial and impactful.

Businesses are urged to move beyond waste disposal and work towards waste elimination. By adopting a circular economy mindset, supporting innovative models like DaaS, and making environmentally conscious choices, every business, regardless of size, can play a vital role in creating a sustainable future.

After all, why settle for waste disposal when we can work towards eliminating it altogether?

—

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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Dear reader,

The US House of Representatives’ passing of a bill targeting TikTok’s owner, ByteDance, represents a significant development in the ongoing saga between the social media platform and US lawmakers.

The bill, which received overwhelming support in the House, mandates ByteDance to divest from TikTok within 165 days or face a total ban in the United States. This move underscores growing concerns over national security and potential data privacy issues associated with Chinese ownership of popular social media platforms.

TikTok’s CEO, Shou Zi Chew, expressed disappointment at the decision, emphasising the company’s commitment to data security and the platform’s independence from external influences. Chew warned of the bill’s potential repercussions, including job losses and limitations on free expression.

The bill’s fate in the Senate remains uncertain, with some Democrats raising concerns about freedom of speech implications and advocating for broader measures to address foreign influence in social media. Nevertheless, the White House has signalled its support for the legislation, underscoring the administration’s stance on national security issues related to Chinese-owned tech companies.

While the bill primarily targets TikTok, its implications extend to other China-owned platforms operating in the US, potentially impacting companies like Tencent’s WeChat. As the debate unfolds, stakeholders on both sides continue to advocate for their positions, setting the stage for further deliberation and potential legislative action.

Sainul,
Editor.

—

NEWS

Shiok Meats CEO Sandhya Sriram to step down after merger with Umami Bioworks
The Shiok Meats brand will be retained, and its employees will join Umami Bioworks; The new entity’s initial market launch will likely involve hybrid products, combining cultivated fish cells with plant-based ingredients.

House votes to force TikTok owner ByteDance to divest or face US ban
The vote was a landslide, with 352 Congress members voting in favour and only 65 against; The bill gives China-based ByteDance 165 days to divest from TikTok; The CEO says vote is ‘disappointing’ and that it will do all it can to protect the platform.

AwanTunai bags US$27.5M, hits positive EBITDA
The investors include Norfund, MUFG Innovation, and OP Finnfund; It will use the money to expand its lending capital facilities to cover over US$2B worth of annualised inventory purchase financing by year-end.

Cash returns still ‘elusive’ for VC, PE investors in SEA startups: report
While VC deals in Southeast Asia tripled between 2015 and 2021, exits have been hard to come by, challenging both investors and mature startups in the region, according to a new report by US-based research firm PitchBook.

Funding into SEA’s female-led startups falls 42% to US$480.8M in 2023: Tracxn
In Southeast Asia, Singapore dominates the female-led startup landscape, with US$3 billion raised across 380 rounds to date.

Choco Up, Atlas Growth Fund to provide US$15M capital to F&B firms in Singapore
The first 100 F&B businesses that qualify will get SGD10,000 (US$7,500) pre-approved funding and a 6-month subscription to core Atlas products, including online storefronts with delivery capabilities and payment gateway.

Animoca Brands expands MENA footprint with investment in UAE gaming firm
Param Labs is a game development company specializing in multiplayer blockchain games and AAA design, which refers to high-budget games distributed by high-profile publishers.

SG gaming studio Lives Interactive secures US$3M
The investors include Mechanism Capital, Sfermion, 3Commas Capital, and Momentum 6; An independent gaming studio, 9 Lives will use the funds to develop its debut game, a cat-themed hero shooter called Nyan Heroes.

OKX Ventures invests in Bitcoin DeFi protocol DLC.Link
DLC.Link aims to bring the power and innovation of DeFi to the Bitcoin ecosystem without compromising on security, decentralisation or user experience; It partners with institutions (called dlcBTC Merchants) to mint dlcBTC, a decentralised wrapped Bitcoin.

Indonesia may block several foreign-owned OTAs this week
Booking.com, Expedia, Klook, and Trivago are not yet on not registered with the registry; They were given five working days to register – otherwise, they may be subject to punitive measures including a block.

OKX gets in-principle approval for digital token services in Singapore
The licence allows OKX to provide digital payment tokens and cross-border money transfer services in the city-state; The company looks to build a locally tailored suite of products and services.

Paytm secures the license it needs to survive
Paytm can participate in the payments ecosystem as a third-party application provider; The license won’t restore several of the perks Paytm enjoyed before but will allow the Noida-headquartered firm to operate similarly to Google Pay.

Singapore’s digital behaviour aggregator Sqreem acquires Trade Indy
Trade Indy is an outcome-focused data analyst and programmatic trader; Sqreeem develops AI solutions that match online behaviours with brands and publishers, identifying clients’ most valuable groups of customers and their behaviours.

Carsome appoints ex-Jardine exec to COO post as it eyes IPO
Eric Chan brings with him three decades of experience in the automotive industry across Singapore and Malaysia; He was earlier MD at Jardine Cycle & Carriage’s Singapore subsidiary and chairman for a Malaysian unit that operates Mercedes-Benz dealerships.

Xendit expands to Thailand, names co-founder as country CEO
In Thailand, the payment gateway firm will compete with incumbents such as TrueMoney and Rabbit Line Pay; Xendit already operates in Malaysia, the Philippines, and its home country of Indonesia.

FEATURES & INTERVIEWS

10 highest-funded female-led startups in Southeast Asia
Of the 1,700 female-led startups, 657 have raised investments so far, of which 14.3% have progressed to Series A and 1.8% to Series C or beyond; Singapore, with US$3B raised across 380 rounds to date, dominates the region.

How Fave founder’s new VC firm helps Malaysian entrepreneurs make their First Move
First Move has backed ten ventures in the inaugural year, prioritising diversity and innovation in Malaysia’s startup ecosystem; 35% of the founders it has supported so far are women.

The solopreneur boom: How Finna is empowering the future of work
Finna is an all-in-one solution that streamlines workflows by facilitating customer management, proposal creation, and payment processing, offering a comprehensive solution to the complexities of solo business management.

Why Soul Ventures Founder seeks founders with a vision “so big it seems impossible”
Soul Ventures has invested in notable names such as OpenAI and SpaceX; But what opportunities is it looking for in Southeast Asia?

Trust Bank aims to become Singapore’s fourth-largest bank with new product innovations
Trust Bank, a JV between Standard Chartered and FairPrice Group, is a digital bank whose customer base has grown to over 700K (14% of Singapore’s bankable population), with deposits grown to US$1.4B.

CONTRIBUTORY ARTICLES

Want to keep your best employees from quitting? Facebook execs and Adam Grant tells you how
Employees become attracted to their work when they’re connected with the meaning behind the job; You can help remind them what the work means in terms of end result impact for the company and the people it serves.

Building resilience against cyber attacks in ASEAN through data
The average annual cost of cybercrime is rising, expected to increase from US$8.4T in 2022 to more than US$23T in 20271; APAC is particularly vulnerable when compared to its global counterparts, accounting for 31% of all incidents remediated worldwide.

Buy from her: Elevating women’s entrepreneurship
Supporting women-led businesses offers access to quality products and services and fosters diversity and inclusivity in the business ecosystem.

Beyond the draft: Why AI won’t save fiction authors (yet)
We need to find ways to leverage the massive potential of AI for solutions that take fiction works from inception to market fruition.

Beyond apps and telehealth: The power of the Village approach for mental well-being
The village offers a platform for genuine conversations, creating a safe space to share challenges and find support in overcoming them.

SPOTLIGHT

Daniel Tan: Finding opportunity in crisis and market inefficiency
Explore how Tan identifies and addresses a loan industry problem, creating efficient connections between borrowers and lenders.

FROM THE ARCHIVES

Why a customer-centric digital marketing strategy is the way to go?
Being customer-centric doesn’t at all mean that you’ll be losing business at the expense of making your customers happy.

Is voice the next revolution in fintech?
Most people in Asia still associate voice with low-level commands: You can ask your voice assistant to play a song for you on Spotify, research basic queries through Google and recite them back to you, or check your schedule on your online calendar.

10 unarguable things that great leaders do
To be a great leader you don’t just need followers and employees, you need a whole team of leaders under you; Think Warren Buffett, Berkshire Hathaway, and all of their companies.

Globalise your strategy, localise your conversations: the key to nailing native in new markets
Knowing what can make an impact now, and what to prepare for moving forward, for each local region, a balance can be established for marketers and advertisers.

11 easy strategies that are important for every startup to succeed
All start-ups need financial support; Securing the first round of funding is not going to be easy as you are starting from ground zero; You need good ideas with a reasonable go-to-market strategy.

Why trust is the biggest barrier to entrepreneurship and innovation
It is a basic principle in economics that in order for a trade to happen, the involved parties need to trust in their mutual gain from it; Trust enables value creation, and this makes it everyone’s most valuable asset.

—

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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You came up with an idea, nurtured it into an enterprise, planted your feet firmly in the domestic market, and now envision tapping the foreign markets. What are the next steps you must take?

Naturally, you require capital to make capital. Once you have secured the necessary amount of funding, where do you invest the sum, how, and how much at a time? 

These are some of the questions among a million other concerns that play out in the head of all entrepreneurs seeking to wade into international commercial waters. The decision, after all, is daring, the prospect is daunting, but this does not mean that the execution needs to be nerve-wracking.  

For any vision to be realized to perfection, the efforts must be driven on the back of a robust strategic framework. The following, then, are some of the key points that growth-minded leaders need to keep in mind when planning to go global:

1. Think global, act local 

While it is important to develop a global vision, it is imperative to keep awareness of the ground realities and stay rooted in the present.

For, it is only after you have registered significant growth domestically and mustered enough commercial momentum that you are encouraged to expand internationally.

The prospect presents itself so naturally that the decision might look like a small, albeit significant, step to you but when you delve into the pragmatics involved, you realize how giant a leap it is for the organization.

Therefore, in order to ensure a secure and reliable passage into this brave new world, you must first be confident that your operations are effectively resolving the pertinent pain points in your local market.    

2. Have a concise and well-thought-through plan of action 

In order to make it big in the global market, you must first aspire to become the industry leader on your home turf. For this, you need to inculcate agile thinking and learn to strike the right balance between prudence and recklessness.

While the tendency to make short-term strategies that yield quick results might help you bag several small victories, you will realize that this stance will not serve you well in your struggle to realize your overarching vision in the long haul. Conversely, directing your entire focus on winning a war waged on the frontiers while ignoring battles closer to home will amount to self-sabotage. 

Therefore, work on a plan with clearly identified goals for the next 30 days, the next 3 months, and the next 3 years. Gone are the days when long-term would imply vague aspirations for 10 years down the line. On a long enough timeline, everyone would be dead, so it’s important to have a shorter turnaround time for measurable goals.

3. Technology is your best friend

New-age leaders need to learn to prioritize technology from the get-go without fixating on the perfect product. You also need to stay abreast of technological advancements that are occurring at the speed of light.

Figuring out which innovation can be plugged into your business infrastructure can help you maximize the quality, efficiency, and effectiveness of your offering. This, along with incorporating the necessary changes based on user feedback, is the only proven way forward. Keep pivoting and experimenting, but never lose focus on the MVP.

4. Evolve with your customer base

No amount of marketing histrionics will yield the right results unless you listen to your customers. Learn to integrate customer feedback at every stage to make your product resolve a real-world problem, instead of the other way around – the sooner the better.

Also Read: Is Taiwan ready to become a global innovation hub?

Building a product first and trying to create an audience for it later is the quickest way to the business graveyard. Solving real-life problems, and doing it effectively, will get you all the traction you need to stay on the winning side of the court. It will also get you further in the game on the back of enthusiastic word-of-mouth referrals.

5. Don’t obsess over competitors, but don’t ignore them either

Keep your rivals within your radar just enough for you to learn from their mistakes. However, do not look to them in the hope of chancing upon a way forward.

Your goal should be to build a better company by creating original differentiation, not ape the ones already existing in the market.

6. Execution is key

An idea is only as strong as its execution. Examine ventures outside your immediate industry niche that have a similar user behaviour, business model, etc. for out-of-the-box inspiration.

Supplementing your strategies with innovative work models will enable you to arrive at unique solutions to existing problems. Above all, never be afraid to fail. Fail fast, fail better. Learn from your mistakes, and get back to the drawing board every single time.

7. Sustainability trumps everything

Treat external funding not as an end goal, but as a means to an end. Ultimately, everything will boil down to whether you are able to create value for everyone involved – be it your clients, your employees, and other stakeholders, or yourself.

Also Read: Creating an employee engagement strategy that works

When you have checked all of these boxes and then some, consider yourself prepared to spearhead an effective expansion drive overseas.

While no amount of preparation can eliminate 100 per cent of the problems that you may face, a strategy-backed execution will help tide over the challenges with relative ease. After all, never has a sailor conquered a sea without setting sail.

And so, bon voyage!  

–

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

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

Image Credit: Brett Zeck

This article was first published on October 1, 2019

The post Creating a global market for your business and what it takes to grow one  appeared first on e27.

9 Lives Interactive, an independent game studio, has secured US$3 million in a funding round led by Mechanism Capital.

Delphi Digital, Sfermion, 3Commas Capital, Momentum 6, Kosmos Ventures, Devmons GG, and CSP DAO also joined.

The investment will be used to develop 9 Lives Interactive’s debut title, Nyan Heroes, a next-generation hero shooter game and cat-inspired IP to drive mass adoption.

Also Read: How the right ecosystem partners can propel Web3 games in the next market cycle

Founded in 2021 by industry veterans from leading studios, including EA, Bungie, and Ubisoft, 9 Lives Interactive utilises cutting-edge Unreal Engine 5 and blockchain technology to revolutionise the gaming industry.

Its debut title Nyan Heroes is a team-based, objective hero-shooter featuring quirky cats who pilot powerful mechs in competitive battles to save the world. Players select from eight guardian classes and use unique abilities and agile, feline-inspired movement to secure objectives and defeat opponents.

Mechs are customisable via an innovative “augment weapon” system, providing a wide range of play styles and opportunities to express high skill levels.

Currently, in pre-alpha, Nyan Heroes claims to have seen over 13,000 signups following its recent announcement of its early access launch.

Also Read: Web3 games should aim to have sustainable tokenomics, ecosystems: Froyo Games’s Douglas Gan

“Nyan Heroes features bleeding-edge technology, including the capabilities of the Unreal 5 engine and blockchain, to support true asset ownership in a thriving creator economy. We believe that this is the next evolution, where cute cat heroes give this genre mass appeal, which will lead to both Web2 and Web3 player adoption,” said Max Fu, Creative Director and CEO of 9 Lives Interactive.

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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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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 ‘Contributor Spotlight’, we spotlight an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this edition, we explore the journey of Daniel Tan, Founder of FindTheLoan.com, Singapore’s first loan marketplace. Since publishing his inaugural thought leadership article with us in 2018, Tan’s subsequent articles have amassed over 10,000 views.

Thoughts, goals, and journey

Having experienced two layoffs from banking roles during the 2008 mortgage crisis, Tan decided to explore entrepreneurship. Despite uncertainty about the business idea, he immersed himself in tech strategies, including defensibility moats, walled gardens, engineering marketing, coding, and digital marketing.

Transitioning to the insurance industry post-banking, Tan became an assistant agency leader, eventually co-founding a mortgage loan agency with colleagues. His interest in improving the loan process was sparked in mid-2019 when a friend sought help assembling a team of loan brokers. Recognising the persisting manual, slow, and error-prone nature of the industry, Tan envisioned a solution.

The onset of the COVID-19 pandemic intensified the need for streamlined loan processes. Tan observed brokers selectively serving borrowers based on loan size and increasing fees for perceived complex cases. Motivated by this inefficiency, he conceived the idea of a loan marketplace connecting borrowers directly to multiple lenders with a single application, eliminating intermediaries.

“Honestly, I don’t know if I have a particular expertise. When it comes to loans, loan brokering, engineering, and so on, many people know so much more than I do. Previous attempts to solve this problem in my industry were all by specialists. Being a generalist was, in my opinion, the reason I understood the needs and works of lenders vs borrowers vs brokers and to marry and design an end-to-end product,” said Tan candidly.

Also Read: Karen Kim: Leveraging design thinking for efficient decision-making in data management

In observing trends within his industry, Tan noted a growing awareness among venture capitalists and fintech companies of the existing credit gap, particularly for SMEs, which had persisted since the subprime crisis. Recognising the emergence of numerous fintech lenders, he pondered the challenge of efficiently connecting borrowers with these lenders while minimising friction in the process.

Furthermore, Tan observed a surge in startups and solutions focusing on KYC/AML processes, alternative credit assessment data, and AI application in credit scoring. However, amidst this growth, he contemplated the potential impact of increasing concerns regarding data privacy on these industry players.

Advice for budding thought leaders

Tan believes the best approach to making connections as a thought leader is understanding others’ perspectives and concerns, ensuring that your writing resonates with them.

“For instance, my recent article was on objection vs rejection. Having also been through it myself, I was prompted to write it after a friend lamented to me about how someone rejected him. I believe most founders are open to genuine feedback, but not from those who were not listening and probably just wanted to look smarter by being critical. Reading many articles each day from various sources and observing how leaders frame their words and thoughts also taught me a thing or two.”

Juggling too many things?

Reflecting on his approach to maintaining work-life balance, Tan remarked, “Balancing work and personal life can be challenging, especially for founders starting from scratch. Often, sacrifices must be made, with social life being the first to be trimmed down. Despite this, I’ve found a way to blend both worlds by offering advice to friends on their startups. While I wouldn’t label it as mentoring, it allows me to intertwine work with personal connections, offering face time with friends beyond the usual business circles.”

Also Read: David Kim: Championing entrepreneurs, shaping the future of innovation

Staying in the loop

For staying updated on industry developments while on the move, Tan relies on e27 and Google Alerts.

In recommending resources for keeping abreast of industry trends, Tan suggests following his blog, which provides detailed insights on selecting loan types, comparing offers, and exploring various financing options like VC, angels, and crowdfunding. For startups, he recommends two books: Venture Deals and The Matchmaker.

“Starting up can be extremely tough. I keep my loved ones’ photos on my desk, and my laptop wallpaper is filled with inspiring quotes, like my favourite from Ray Kroc, who transformed McDonald’s into what we see today: ‘Nothing in this world can take the place of good old persistence. Talent won’t. Nothing’s more common than unsuccessful men with talent.’ Often, starting up can be the toughest challenge one would ever understand. Having the courage to keep going is the number one skill I believe matters above all else,” Tan concluded.

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Are you ready to join 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. 

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Visit Echelon X to learn more about the program. Get your tickets here!

Retail and wholesale commerce play pivotal roles in fostering economic equity, especially in a diverse and populous country like Indonesia. These sectors serve as conduits for distributing goods and services across various regions, thereby creating opportunities for small and medium-sized enterprises (SMEs) to thrive.

By engaging in retail and wholesale activities, local businesses gain access to larger markets, enabling them to compete with larger corporations. This dynamic not only encourages entrepreneurship but also empowers marginalised communities by providing them with avenues for economic participation. Moreover, retail and wholesale sectors generate employment opportunities at multiple levels of the supply chain, from producers and distributors to retailers and service providers, thereby contributing to income redistribution and poverty alleviation.

Also read: Leading end-to-end property platform in Indonesia will share insights at Echelon X!

In Indonesia, where socioeconomic disparities are prevalent among its diverse population, the retail and wholesale sectors serve as engines of economic inclusivity. These industries facilitate access to essential goods and services in both urban centres and rural areas, bridging the gap between regions and socio-economic classes. Additionally, the presence of vibrant retail and wholesale markets encourages innovation and diversification, as businesses strive to meet the diverse needs and preferences of consumers.

Government policies that support the growth of these sectors, coupled with investments in infrastructure and technology, can further enhance their role in promoting economic equity by ensuring efficient distribution networks and enabling greater market access for all stakeholders. Ultimately, a robust retail and wholesale ecosystem is essential for fostering sustainable and inclusive economic development in Indonesia.

Challenges faced by retailers in Indonesia

Individual retailers operating in the retail and wholesale space encounter various challenges that can impede their success and competitiveness. One significant hurdle is intense competition from larger retail chains and e-commerce platforms, which often have greater financial resources and marketing capabilities. This competition can make it difficult for smaller retailers to attract customers and maintain profitability.

Additionally, rising operating costs, including rent, utilities, and labour expenses, pose significant challenges for individual retailers, particularly in urban areas where overhead costs are high. Moreover, fluctuating consumer preferences and market trends require retailers to constantly adapt their product offerings and marketing strategies, which can be daunting for smaller businesses with limited resources and expertise.

Also read: SAFE STEPS D-TECH Community Hub is leading the way to a resilient future

Finally, navigating complex regulatory frameworks and compliance requirements, such as taxation and licensing regulations, adds another layer of difficulty for individual retailers, further hindering their ability to thrive in the competitive retail landscape. All of these complexities pull focus from the arduous day-to-day operations that are already very demanding to your average everyday retailer, particularly when it comes to both acquiring and distributing products and merchandise.

To address these challenges, SuperApp is the first social commerce platform in Indonesia that is ISO 9001:2015 certified and aims to solve economic inequality across cities for Indonesia’s future economy. SuperApp is one of the top YC companies, which oversees the main feature, SuperAgen, an agent-led commerce feature that enables community leaders to become retailers within their communities.

How SuperApp is balancing impact, technology, and sustainable growth in Indonesia

By empowering community leaders to become retailers through SuperAgen, the platform not only facilitates economic participation at the grassroots level but also fosters a sense of community-driven commerce.

Achieving ISO 9001:2015 certification underscores SuperApp’s commitment to quality and efficiency, which are crucial for building trust among users and stakeholders. As one of the top Y Combinator (YC) companies, SuperApp likely benefits from access to resources, mentorship, and networking opportunities that can further fuel its growth and impact.

Overall, SuperApp’s focus on social commerce and community empowerment has the potential to make significant contributions to Indonesia’s economy and society. How do they do it? Learn all about SuperApp’s story straight from the source.

Happening on May 15 to 16 at the Singapore EXPO, Echelon X will feature a dedicated fireside chat entitled “Balancing Impact, Technology, and Sustainable Growth in Indonesia: How SuperApp Does It,” featuring Steven Wongsoredjo, CEO and Co-Founder at SuperApp (YC W18).

Also read: Echelon X introduces the Growth Stage: A dedicated platform for startup growth

Bringing experience from previous roles at Aplikasi Super (YC W18), Permias Washington DC and UNICEF. Steven Wongsoredjo holds a 2015 – 2016 Master of Science (MSc) with a 3.98/4.00 GPA in their field at Columbia University in the City of New York. He also holds a Bachelor of Science from Johns Hopkins University with Magna Cum Laude honours. With a robust skill set that spans Marketing Management, the Gaming Industry, Public Speaking, Accounting, Economics, and more, Steven Wongsoredjo contributes valuable insights to the industry.

The fireside chat will be moderated by no other than Aaqib Alvi, Country Manager for Sustainable Living Lab.

Aaqib Alvi is committed to providing global program management for their client, Intel, where he serves on the frontlines of the AI revolution, deploying cutting-edge technology to national governments in over 35+ countries. His passion for using AI to bridge the technical gap and empower non-technical populations has driven him to work on sustainable development goals by providing sustainable innovation consultancies to MNCs and communities.

With over 12 years of experience in the education-technology sector, Aaqib Alvi has honed his expertise in STEAM learning for students. His knack for developing strategies for education startups and facilitating the adoption of innovative products and learning environments has been recognised by educators and learners alike. Aaqib Alvi is renowned for delivering dynamic and engaging presentations on the power of STEAM learning and how it can be used in any subject to strengthen learning.

Join us at Echelon X!

Gear up for the premier tech and innovation conference as Echelon X kicks off on May 15th and 16th, 2024, at the Singapore EXPO. This dynamic event will bring together industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region for two packed days.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

The post Sustainable development through empowering commerce in Indonesia appeared first on e27.

Singapore-based OKX Ventures, the investment arm of global cryptocurrency exchange and Web3 technology company OKX, has invested an undisclosed amount in DLC.Link, which harnesses the power of Discreet Log Contracts (DLCs) to establish a trustless bridge between Bitcoin and Ethereum.

DLC.Link aims to bring the power and innovation of DeFi to the Bitcoin ecosystem without compromising on security, decentralisation or user experience. It partners with institutions (called dlcBTC Merchants) to mint dlcBTC, a decentralised wrapped Bitcoin. Unlike other forms of wrapped Bitcoin, dlcBTC does not require Bitcoin deposits to be held with a custodian or bridged to a separate blockchain.

Also Read: OKX Ventures leads investment in Web3 venture studio BeWater

To mint dlcBTC, Bitcoin depositors self-wrap by locking their collateral into a DLC, which can only pay out to the original depositor. Thus, dlcBTC provides a theft-proof protocol, in that Bitcoin deposits cannot be lost through hacks, theft or fraud.

Furthermore, since only the original depositor can retrieve funds, dlcBTC is more resistant to censorship than current forms of wrapped Bitcoin.

Aki Balogh, co-founder of DLC.Link, said: “wBTC has reached Top 15 token status, despite its centralised custody model. In contrast, dlcBTC is the only wrapped Bitcoin that is minted from self-custody. DLCs, which were added to Bitcoin in 2021, enable a theft-proof wrapping mechanism without the need to introduce a bridge or L2 chain. dlcBTC will boost the adoption of Bitcoin in DeFi and has the potential to become a Top 10 token.”

With an initial capital commitment of US$100 million, OKX Ventures focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Also Read: OKX Ventures backs Web3 interoperability infra firm Polyhedra

Early this week, OKX announced that its Singapore subsidiary OKX SG received in-principle approval for a Major Payment Institution License (MPI) in Singapore. The licence allows it to provide digital payment tokens and cross-border money transfer services in the city-state.

The company looks to build a locally tailored suite of products and services.

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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.

The post OKX Ventures invests in Bitcoin DeFi protocol DLC.Link  appeared first on e27.

Funding into female-led startups in Southeast Asia (SEA) saw a 42 per cent y-o-y drop in 2023, according to Tracxn research.

Woman-led startups in Southeast Asia raised US$480.8 million in 2023, compared to US$831.9 million last year. The downturn was not confined to a specific sector or geography but across diverse sectors and geographical locations.

Also Read: Meet the 27+ women headline-makers in the Southeast Asian tech startup ecosystem

2021 saw the highest funding by female-led ventures, raising US$1.2 billion. In that year, funding surged across all stages. While the late-stage funding rose by 626 per cent, early and seed-stage funding increased by 137 and 90 per cent, respectively.

In 2021 and 2023, the highest funding was observed in the late stage.

In 2022, the bulk of the funding came in the form of early-stage deals. Late-stage funding declined 66 per cent in the year, while early-stage and seed-stage funding rose 61 per cent and 47 per cent, respectively

Southeast Asia is home to over 1,700 startups with at least one female co-founder. There are 657 funded women-led startups, of which 14.3 per cent have progressed to the Series A stage and 1.8 per cent to Series C or beyond.

In Southeast Asia, Singapore dominates the female-led startup landscape, with US$3 billion in funding raised across 380 rounds to date. Jakarta secured US$935.9 million through 106 rounds, while Cyberjaya’s female-founded ventures received US$86.3 million across ten rounds.

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

Singapore has 936 woman-led companies, followed by Jakarta (173 companies) and Kuala Lumpur (107).

The city-state ranks seventh in the world in terms of funding raised by women-led startups to date.

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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.

The post Funding into SEA’s female-led startups falls 42% to US$480.8M in 2023: Tracxn appeared first on e27.