Marketing strategies have undergone a significant transformation in the evolving digital landscape. Businesses can create highly tailored experiences that resonate with individual preferences by leveraging customer data.

However, this shift toward personalisation has brought privacy concerns to the forefront as consumers grow increasingly cautious about how companies collect and use their information. As a result, marketers must find a balance between delivering personalised experiences and upholding stringent privacy standards.

The value of personalised marketing

Personalisation tailors interactions to meet individual preferences and needs, making each customer feel uniquely valued. For instance, a survey in the Asia-Pacific region found that 30 per cent of respondents felt an increase in trust toward brands that effectively used technology to personalise their experiences.

This marketing approach can take various forms, such as product recommendations and customised email marketing campaigns. These methods improve the shopping experience and strengthen the customer-brand relationship.

Respect opt-in and consent

Obtaining explicit consent from customers before collecting and using their data is crucial in today’s privacy-conscious environment. This practice aligns with legal requirements, and fosters trust between consumers and brands.

Interestingly, research shows that 71 per cent of consumers expect personalisation and will disclose their data to receive targeted messaging that aligns with their interests and preferences. Prioritising explicit consent helps companies comply with privacy laws and build stronger customer relationships.

Understand that transparency is vital

Being open with customers about collected data and its usage offers numerous business benefits. This transparency builds trust, which is critical to client relationships, as it reassures people that companies handle their information with care and respect.

Also Read: How data can be used to empower mental healthcare in Asia

Moreover, customers who understand how their data contributes to personalised experiences are likelier to feel valued and see the relevance of sharing their information. Such openness aligns with ethical practices and compliance with privacy regulations and enhances consumer loyalty and confidence in the brand.

Use data wisely

Businesses should focus on collecting only the essential information to enhance the customer experience and use data effectively for personalisation without violating privacy boundaries. Implementing robust data governance policies, including who is responsible and what tasks they perform, helps boost consistency and efficiency in data management while reducing confusion.

Anonymising and aggregating data can protect individual identities while providing valuable insights for personalisation strategies. Moreover, giving customers control over their information — like options to opt out of data collection or customise their personalisation settings — can further guarantee personalisation efforts are respectful and transparent.

Invest in privacy-friendly technologies

Adopting technologies that enhance personalisation and safeguard user data is essential for modern businesses aiming to deliver exceptional customer experiences without compromising privacy. AI and machine learning can analyse behaviour and preferences in real-time, offering personalised recommendations while securing individual information.

Blockchain technology offers another layer of security, enabling transparent and tamper-proof storage of customer data. Encouraging such technologies guarantees businesses can build trust and loyalty by demonstrating a commitment to protecting their information.

Regularly update privacy practices

Regularly reviewing and updating privacy practices is crucial for businesses to stay aligned with evolving regulatory changes and shifting customer expectations. This proactive approach ensures compliance with the latest data protection laws, which can vary across different regions and over time.

Keeping privacy policies updated demonstrates a commitment to data security and respects customer privacy, enhancing trust and credibility. By staying informed and adaptable, businesses can effectively navigate the complex landscape of privacy regulations.

Focus on value exchange

People are more inclined to share their data when they perceive clear value is crucial. This exchange of information for personalised services or benefits can enhance the customer experience.

Also Read: Innovation in HR: Hacking Talents’s journey in personalised professional development

However, a notable concern is that 45 per cent of consumers distrust companies handling their website behaviour or cookie data, highlighting the need for transparency and value in data exchange practices. Businesses that effectively communicate the benefits of information sharing can mitigate distrust and encourage a more open and mutually beneficial relationship.

Leverage anonymous personalisation

Behavioral data — like purchase history or website interactions — can tailor recommendations and content that resonate with individual preferences. Contextual data — like device type or location — refine personalisation by adapting experiences to the customer’s current situation.

Companies can guarantee personalisation efforts are not intrusive and maintain customer anonymity by focusing on anonymised or aggregated data. This approach maximises the relevance of personalised content and offers without directly accessing or exposing sensitive personal information.

Personalise with security first

Businesses must prioritise the security of their data infrastructure to safeguard against breaches and unauthorised access as the sophistication of cyber threats evolves. For instance, in 2022, Vietnam experienced a high frequency of phishing attacks, impacting over 17 per cent of its internet users.

This statistic underscores the prevalent risk of data security threats worldwide. Investing in advanced security technologies — like encryption, multifactor authentication and continuous monitoring systems — lets businesses create a secure environment that protects customer data from such attacks.

Balancing personalisation and privacy in marketing

Marketers must adopt these strategies to enhance their marketing efforts and protect customer privacy. Balancing personalisation with privacy considerations helps businesses build deeper trust and loyalty among their audience, improving consumer relationships and brand reputation.

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

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The post Balancing personalisation and privacy in business marketing appeared first on e27.

Dear reader,

The reported victory of Prabowo Subianto in Indonesia’s presidential election signals potential shifts in economic policies, particularly in the realm of startups and the digital economy.

Subianto’s proposed loan scheme for tech businesses, drawing from government funds, reflects a commitment to fostering innovation and entrepreneurship. However, the success of this initiative will hinge on careful scrutiny to ensure equitable distribution and effective utilisation of resources.

Moreover, the emphasis on attracting foreign investment through regulatory simplification and incentives underscores Indonesia’s desire to enhance its position in the global market. By addressing concerns such as the need for parent entities in neighbouring countries, the government aims to create a more conducive environment for domestic startups to thrive.

The continuity of certain policies, such as the ban on direct social media transactions and the prioritisation of electric vehicles, indicates a strategic alignment with ongoing trends and challenges, emphasising sustainability and technological advancement.

Overall, Subianto’s presidency holds promise for driving economic growth and innovation in Indonesia. However, the successful execution of these plans will depend not only on policy implementation but also on adaptability to evolving economic landscapes and the effective management of resources and partnerships.

Sainul,
Editor.

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NEWS

What Prabowo Subianto has in store for Indonesia’s startups and tech industry
One planned programme is a loan scheme for tech and innovation-based businesses; This would follow the Merah Putih Fund launched by the Jokowi administration in September 2023; Foreign investment will also be a key focus for the new government.

Qoo10 to acquire US e-commerce platform Wish’s assets, liabilities for US$173M
This marks a considerable discount to the previous valuation of Wish, whose parent ContextLogic raised US$1.1B in its IPO in 2020 at a US$14.1B valuation
Wish faced massive competition from Temu and Shein, forcing it to sell its assets.

GoTo denies rumours on potential Grab merger deal
Grab and Gojek previously held initial discussions on such a deal roughly four years ago, but a concrete plan did not materialise. Instead, Gojek merged with e-commerce platform Tokopedia to form GoTo.

Indian agency seeks overseas transaction details from Paytm Payments Bank
The central bank RBI has ordered Paytm Payments Bank, an associate of Paytm, to open a new tab to stop accepting fresh deposits in its accounts or popular wallet from March, citing persistent and serious supervisory concerns.

Singtel Innov8 sells entire stake in Vizzio to embattled founder
The VC arm of Singtel has sold all of its 80 preference shares in Vizzio to Jon Lee; The transaction also removes the S$1 million (US$740,000) in paid-up share capital that Singtel Innov8 injected into Vizzio – an amount now shouldered by Lee.

Filipino EV logistics startup Mober raises US$2M seed financing
RT Heptagon Holdings is the investor; Mober has developed a Transport Management System to optimise delivery efficiency and track the CO2 savings achieved through EVs; It has a fleet of 60 EVs.

Ex-MD of Temasek accelerator TAL Sang Han joins East Ventures Korea
Han will manage the operations of East Ventures South Korea, a US$100M fund formed in partnership with SV Investment in October 2023; Han played a pivotal role in nurturing the growth of startups, notably during his tenure as the MD of TAL.

Green COP secures investment to launch a pilot biofuels plant
Ken Energy is the investor; Green COP produces sustainable biofuels derived from biowaste, strategically focusing on fostering a circular economy in the maritime and transportation sectors.

Carousell co-founder Lucas Ngoo to step down
The decision to step away from Carousell is a personal one, with Ngoo looking to take a break to learn new things, such as AI in biotech, healthcare, and climate tech, among others.

SEC clears Trump’s social media deal worth as much as US$10B
The valuation is about half that of Elon Musk’s much more popular social media company X and follows two years of setbacks in the Trump company’s quest to complete a stock market listing.

OpenAI introduces AI model that turns text into video
The software, called Sora, is currently available for red teaming, which helps identify flaws in the AI system, as well as for use by visual artists, designers and filmmakers to gain feedback on the model.

Crypto exchange Coinbase posts first profit in two years on robust trading
Investor enthusiasm for crypto was rekindled in recent months by the US SEC highly anticipated approval of the first spot bitcoin exchange-traded funds (ETFs); Coinbase’s transaction revenue jumped 64% to US$529.3M in Q4.

FEATURES

Transforming military logistics in the Himalayas with heavy-lift aerial vehicles
BonV Aero’s aerial vehicle is capable of carrying 50 kilos over ten kilometres at 10,000 feet in hilly regions; Thanks to its self-flying technology, this innovative vehicle operates autonomously without constant pilot intervention.

With STEPVR, making AI-generated videos is as easy as creating PowerPoint presentation
STEPVR was part of AI Trailblazers, Singapore’s first Generative AI Innovation Sandboxes established to accelerate AI solutions development.

‘SEA founders should connect with global startup hubs’: Unifier Ventures
From day one, the mindset for founders in the EU and SEA must be to ‘win locally but think globally’, which might not be necessary for founders building in mega markets like the US, China, and India.

ARCHIVES

Unlikely mentors: What kids can teach you about entrepreneurship
I distilled some key habits and characteristics that business owners can develop to thrive in a chaotic and competitive business world.

A great back-end tech helped GrabFood dominate SEA’s food delivery market
Its merchant dashboard not only provides a 360-degree view of all incoming orders regardless of the order type but also enables merchants to keep their restaurant information updated, for example, communicating when an item is out of stock and more.

What is keeping founders up at night?
Fundraising is a time-consuming task that can be mentally draining. Some liken it to dating where you need to cast your net far and wide and spend a lot of time getting to know the potential partner on whether it will be a good match.

Ex-Gojek CMO reveals the 3 things that marketers should stop doing today
In this article, Piotr Jakubowski also shares examples of his favourite marketing initiatives by top global companies.

Is Singapore the “Delaware” of Southeast Asia?
Unlike other nations around the world that require founders to be physically present to incorporate their business in the country, setting up your company in Singapore is incredibly swift and seamless.

Know thy customer: The only rule for startups looking to build trust on social media
We explore the social media best practices that startups of all types can use as a guide to drive customer engagement and brand recognition.

CONTRIBUTORY ARTICLES

Why your first angel cheque should be via a syndicate
Writing your first angel cheque is a significant step, and choosing a syndicate can be a strategic move for first-time investors; Syndicates often gain access to premium deal flow that might not be available to individual investors.

New year, new funding strategies: Powering up sustainability tech startups
It should be the responsibility of all startups to prioritise educating different players in the ecosystem about sustainable innovations.

How to select the right PR agency: Key factors to consider
If you’re ready for PR, finding the right agency demands a bit of strategic scrutiny; here are my insights into the nuanced world of selecting a PR agency.

How data can be used to empower mental healthcare in Asia
Temasek-backed mental health startup ThoughtFull revolutionises mental health with real-world, local data for accessible solutions.

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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 Ecosystem Roundup: How will Subianto’s victory impact ID’s startup industry | Qoo10 to acquire Wish for US$173M appeared first on e27.

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 shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we feature Karen Kim, CEO of Human Managed, an ASEAN cloud-native data platform that empowers businesses to make smarter decisions and faster actions for cyber, digital and risk outcomes.

Kim shares her personal and professional journey in this episode of Contributor Spotlight.

Thoughts, goals, and journey

Kim’s unconventional tech journey began after graduating from the University of Cambridge with a degree in Politics. For over ten years, she has explored customer-facing roles in industries such as telecommunications (British Telecom), recruitment (Hays), and social networking platforms (LinkedIn). This experience provided firsthand insight into the challenges organisations face and the impact of innovative products coupled with excellent service in driving outcomes.

Taking on the role of CEO of Human Managed in 2018 was a new challenge for Kim. Leading a bootstrapped company was unfamiliar territory, but Kim has always been one to embrace the unknown, following her curiosity and inspiration with purposeful steps.

Kim noted, “The past five years have been marked by tremendous personal and professional growth. I have led the team to define what value means to us intrinsically and to our customers and partners. Everything has flown from there — mission, culture, products. Today, my responsibility in Human Managed is to align its purpose to strategy and strategy to operations.

I enjoy combining my learnings, love for design-thinking, and service-first mindset in various domains, including branding, service design, and business development. I am proud to lead a different kind of company that dares to solve the complex problems of today’s data-flooded world.

Human Managed is consistently delivering value to our customers, trying new things and being able to learn from our mistakes quickly. In doing so, we are building an agile and fearless culture, something I am very proud of.”

The driving force

Human Managed’s mission is to assist enterprises in organising their data for smarter decisions and faster actions, enhancing cyber, digital, and risk outcomes. Over the past five years, the focus has been on crafting solutions that tackle various complex problems of the digital age, delivering significant value to customers. This year, recognising the need for broader visibility, the team explored e27 as a platform to build brand awareness.

Also Read: Geraldine Pang: Mastering digital success through expert marketing and AI insights

Kim said, “I knew that e27 is very well regarded as a media title that has created a vibrant ecosystem for startups and new technologies.

I am also aware that the e27 readership consists of various decision-makers spanning a range of industries that could benefit from our services. Hence, the Contributor Programme is an excellent opportunity to share our work at Human Managed.

My thought leadership piece published on e27, Data Decisions To Make in 2024 For Businesses To Become AI Native, is at the core of what we deliver to our customers every day.”

 On evolving industry trends

Kim specialises in design thinking for efficient decision-making. With firsthand experience across industries, she understands the complex challenges faced by enterprises. Throughout her career, she has focused on developing products and services to improve decision-making for optimal results, having observed how decisions can lead to costly outcomes if based on irrelevant premises or inadequate processes.

Talking about noteworthy industry trends within her area of expertise, Kim emphasised, “Today, in a data-fuelled world, decision-making for enterprises has become even more complicated. Building on the disruption unleashed by Gen-AI in the past year, the rapid rate of innovation in AI and cloud-native tech solutions will see an explosion in data in the near future. By 2025, global data volume is expected to reach 175 zetabytes. Experts predict that data will be embedded in every decision, interaction and process.

With companies operating in complex data environments with various technologies working independently, it is challenging to achieve scalable digital transformation due to legacy architecture and talent skill gaps. As a result, businesses may use technology solutions without fully understanding their business context or relying on incorrect metrics, eventually leading to information overload. This, in turn, can cause indecisiveness and inaction, exposing companies to potential threats and making it difficult to identify and act on scalable opportunities. Additionally, it can also lead to difficulties in managing risk.”

Advice for budding thought leaders

“Thought leadership is about having a viewpoint that brings readers value,” Kim explains. “It’s less about your product and company and more about how you can solve a problem for the audience by sharing your knowledge and real-world experience. It begins with deep diving into your expertise and developing a set of topics within that field that can showcase your knowledge.”

According to Kim, staying updated on the latest trends in her relevant area of expertise is crucial to providing essential background data and context. Drawing on industry knowledge and personal experience, she highlights the necessity of effectively framing a problem, which acts as the hook to engage the audience. Following this, the focus shifts to developing the flow of the piece, establishing the problem, and ultimately providing the reader with a rewarding solution.

Also Read: Sapna Chadha: Navigating Southeast Asia’s tech landscape and AI trends

“Ultimately, creating a thought leadership piece is a business storytelling exercise. And the more you practise, the better you get at it. So read widely, write authentically and edit with your audience in mind,” she advises.

Juggling too many things?

Kim highlights the intricacies of work-life balance: “Balancing work-life is again about efficient decision-making- knowing what is essential. I don’t believe in making minute-by-minute plans, but I generally focus on two or three big daily tasks I must complete.

Delegating and collaborating are also essential in leveraging collective strengths and expertise at work: we can achieve more while lightening individual workloads. Leading a startup and delivering under tight timelines with limited resources can result in long working days at a time.

However, setting boundaries between work and personal life is crucial. I carve out dedicated time for personal activities, exercises, and self-care. I also appreciate the value of self-reflection and growing inward; whenever possible, I spend time journaling, practising yoga and mindfulness, and walking in the lush gardens of Singapore.”

Staying in the loop

Kim and her team remain attentive to data issues in the cyber, digital, and risk sectors, collaborating closely with customers and partners to understand critical challenges like asset management, posture detection, compliance management, extended detection, and threat management. This firsthand knowledge forms their strategies and product development for enterprises.

She also stays updated on industry developments by attending networking events and conferences and subscribing to various tech publications and platforms.

Kim recommends the following resources:

• Book: Machine, Platform, Crowd by Andrew McAfee and Erik Brynjolfsson explores how the collective intelligence of human and machine minds, product and platform dynamics, and core and crowd interactions will shape the digital-native future.
• Website: GZERO AI, a valuable resource for insights into AI and its impact on global affairs.
• Resources: Farnam Street, offering articles and blogs on decision-making and clear thinking.

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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. 

The post Karen Kim: Leveraging design thinking for efficient decision-making in data management appeared first on e27.

Southeast Asia’s tech startup sector kicked off 2024 with a bang, securing over US$439 million in venture funding across 31 rounds in January. From pioneering chiplet design to AI automation and neo-rural banking, this wave of investments highlights the region’s growing innovation and global potential.

Below are the top deals of January 2024:

Silicon Box (Singapore)

Funding: US$200 million
Round: Series B
Investors: BRV Capital, Event Horizon Capital, Maverick Capital, Prasedium Capital, Tata Electronics, TDK Ventures, UMC Capital

Bio: Silicon Box is an advanced semiconductor packaging company specialising in cutting-edge chiplet integration services. Founded in 2021 by semiconductor design and packaging industry titans Dr Sehat Sutardja and Weili Dai and CEO Dr Byung Joon Han, Silicon Box aims to bring affordable, high-performance, power-optimised, scalable solutions that enable next-gen large language models (LLM), generative AI, automotive, data centres and mobile computing.

The startup enables chiplet architecture, allowing chip designers freedom from the constraints of a single, monolithic chip for processing. By leveraging multiple smaller chips interconnected in a single package, chip designers can create the equivalent of a “system-on-a-chip” (SoC) in a package.

Sygnum (Singapore)

Funding: US$40 million
Round: Strategic growth
Investors: Azimut Holding (lead)

Bio: Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. It empowers professional and institutional investors, banks, corporate, and DLT foundations to invest in digital assets with complete trust.

In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore.

Be Group (Vietnam)

Funding: US$30 million
Round: Not specified
Investors: VPBank Securities
Be Group is the Vietnamese startup behind the multi-service consumer platform ‘Be’. Started around five years ago, Be Group has worked with over 300,000 drivers. In 2023 alone, the company facilitated over 120 million rides, maintaining a dominant 35 per cent market share in the ride-hailing sector across 40 cities and provinces in Vietnam.

The platform currently offers more than 15 services, including multimodal transportation, express delivery, food delivery, insurance, and telecommunications.

GDMC (Singapore)

Funding: US$21 million
Round: Series A
Investors: Celadon Partners, WI Harper Group, SEEDS Capital, NSG Ventures

Bio: Genetic Design and Manufacturing Corporation (GDMC) is a design and manufacturing organisation focusing on next-generation advanced genetic therapies. Established in 2021, GDMC focuses on manufacturing advanced therapy modalities, including customised mRNA, plasmid DNA, AAV and Lentiviral Vectors. It has developed a Partnership for Drug Manufacturing Organisation model, offering support to companies, including startups, from drug design to being the one-stop shop for innovators from design and manufacturing to quality assurance and regulatory support for eventual market entry.

Bluesheets (Singapore)

Funding: US$6.5 million
Round: Series A
Investors: Illuminate Financial, 1982 Ventures, Insignia Ventures Partners, Antler Elevate Fund

Bio: Bluesheets is an AI automation software company. It leverages financial data points to train AI models for process automation across various industries. It aims to help businesses process unstructured data in multiple formats, languages, currencies, and from both digital and physical sources.

The company has a client base across Asia Pacific, the US, and Europe, which includes Mitsui Sumitomo Insurance Group (MSIG), SCG, Teckwah, Gamuda Berhad, Leong Hup International and Commonwealth Capital.

Komunal (Indonesia)

Funding: US$5.5 million
Round: Series A+
Investors: Sumitomo Corporation Equity Asia, Jafco Asia, Skystar Capital, Sovereign Capital, Gobi Partners

Bio: Komunal is a fintech company offering neo-rural bank services in Indonesia. Launched in 2019, Komunal digitises rural banks by combining funding access and hyperlocal lending to support economic growth in Indonesia. It provides financial services to the underbanked population through its unique partnership with the rural banks in Indonesia. The firm’s vision is to elevate rural banks and SMEs in the archipelago to serve their local community better.

It has so far partnered with 376 rural banks and channels productive loans to MSMEs predominantly based in tier 2 and 3 cities. Through its digital-based DepositoBPR offering, Indonesians can deposit funds in hundreds of rural banks, eliminating the conventional need for face-to-face processes. These deposits also offer higher interest rates than deposits offered by commercial banks.

Semaai (Indonesia)

Funding: US$4.7 million
Round: Equity and debt financing
Investors: CyberAgent Capital, Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC, Heracles Ventures, Peak XV’s Surge, Accion Venture Lab, Beenext

Bio: Semaai is a ‘farmer-first’ company building full-stack agritech solutions to help farmers and rural MSMEs such as toko tanis in Indonesia maximise their earning potential and access better financing, services and new markets.

Mesh Bio (Singapore)

Funding: US$3.5 million
Round: Series A
Investors: East Ventures, Elev8, Seed Capital

Bio: Mesh Bio is a chronic disease management startup. Founded in 2018 by Wu and Arsen Batagov (CTO), Mesh Bio delivers digital solutions to help healthcare providers with patient management. Its solutions offer patient data and predictive analytics that equip doctors with information and intelligence about their patients and the diseases they live with.

The company develops clinical decision support analytics and automation solutions for managing chronic diseases such as cardiovascular disease. Its DARA Health Intelligence Platform enables data-driven care delivery, which improves patient engagement and health outcomes. It has been used by more than 120 medical centres across Singapore, Malaysia, and Indonesia for preventive health screening.

Meiro (Singapore)

Funding: US$3 million
Round: Pre-Series A
Investors: Wavemaker Partners, Angel Central, angels

Bio: Meiro is a customer data platform. Founded in 2018 by Pavel Bulowski, Jana Marlé-Zizková, and Vojtěch Kurka, Meiro’s Customer Data Platform (CDP) empowers brands to better understand customer preferences and behaviours across various touchpoints. Through Meiro, brands can use data to improve customer experience and marketing campaign performance, ultimately maximising customer satisfaction and business profitability.

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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 SEA’s startups shine in Jan funding boom: Chiplets, AI, rural banking lead the charge appeared first on e27.

Mocaverse, a membership network project by Animoca Brands, has formed strategic partnerships with major Web3 wallets — OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet.

The collaborations aim to bridge the gap between Centralised Finance (CeFi) and the on-chain cultural economy.

Through its recently launched decentralised identity, Moca ID, Mocaverse will foster user growth by integrating with the aforementioned leading self-custodial wallets. Moca ID will serve as the gateway for users to explore various Web3 cultural experiences, including PointFi, GameFi, and SocialFi, and simplify the onboarding process to the Mocaverse ecosystem.

Also Read: Animoca Brands nets US$20M in new round for its ‘Mocaverse’ project

OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet users will soon be able to claim their unique Moca IDs in-app to enter the Mocaverse ecosystem and access various rewarding culture and entertainment experiences. Moca ID holders can earn Realm Points through participation and active engagement in partner ecosystems and experiences and redeem the points to receive exclusive access to real-life benefits and rewards provided by Mocaverse and Animoca Brands.

Kenneth Shek, project lead of Mocaverse: “This partnership encompasses the values and mission we set out when we envisioned Moca ID, which is to make interoperability a new standard to onboard new users and redefine the Web3 network effect through the Mocaverse Partner Network.”

Jason Lau, chief innovation officer of OKX, added: “OKX Wallet is the best way to discover and explore the growing realm of Web3 gaming, culture, and entertainment experiences. Our collaboration with Mocaverse to support Moca ID gives our users the seamless experience and interoperability they’ve come to expect from OKX Wallet.”

Mocaverse is Animoca’s ambitious project to bring together the company’s portfolio projects, subsidiaries, joint ventures, and partners through a unique NFT collection. Mocaverse features 8,888 Mocas, which are NFT profile pictures (PFPs) that serve as a membership pass for Animoca Brands team members, investors, partners, and certain token holders.

Mocaverse aims to unite the Web3 community through shared purpose and values by allowing holders to exchange ideas, learn, connect, play games, and build the future of Web3.

—

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 Mocaverse partners with Web3 wallets to expand Moca ID ecosystem appeared first on e27.

On February 16, Singapore’s Deputy Prime Minister and Finance Minister Lawrence Wong delivered the country’s 2024 budget in Parliament.

As quoted by the Straits Times, Budget 2024 aims to “keep Singapore moving forward” and “equip our citizens to realise their fullest potential and give more assurance to our families and seniors amid a more troubled world.”

As the global political and economic situation challenges local startups, e27 spoke to several tech companies in Singapore to understand their aspirations for the Singapore Budget 2024 and how the government can further support the startup ecosystem.

Several notable themes surfaced in our email interview with founders and executives from Human Managed, Payoneer, and Qashier.

Talents in the ecosystem

Talents are a crucial part of a tech startup ecosystem, and there is an urgency for support that helps them keep up with market changes.

According to Human Managed CEO Karen Kim, academic courses and industry certifications for developing talent should be boosted.

Also Read: Uncovering the rise and challenges faced by deep tech startups in Singapore

But this is not the only dimension of talent development that the government needs to consider.

According to Christopher Choo, Co-founder & CEO of Qashier, “Shortage of manpower, especially in industries with high turnover rates, can pose a challenge for many startups. This is because they may not have as deep pockets as large enterprises to hire extensively.”

“As such, technology plays a key role in automating processing and streamlining operations, allowing startups to operate more efficiently with limited manpower,” he stresses.

Funding and international expansion

Another key challenge that supports in Singapore are facing includes securing capital and maintaining healthy cash flow, according to Choo.

“Grants from public and private sectors are essential for startups and SMEs to scale their operations. Qashier is also constantly finding ways to support SMEs through various efforts such as Qashier Support Package (QSP), an initiative designed to help SMEs digitalise their operations without breaking the bank,” he says.

This funding is crucial in supporting tech companies in their expansion plan, which remains a popular option for Singapore-based startups.

“It’s crucial to grasp the significance of businesses venturing into new markets. At the crux of it, building scale improves the productivity of any business, and unlocking cross-border capabilities will undeniably help businesses become more efficient. It is also part of Singapore’s DNA and identity as a financial hub to help business realise their full potential. While internationalisation efforts are no longer solely the domain of large corporations, it also implies a greater need for support,” says Nagesh Devata, the SVP and President of APAC for Payoneer.

Also Read: Is Singapore the “Delaware” of Southeast Asia?

As a platform that works closely with SMEs, Payoneer notes the challenges that SMEs can face in their international expansion effort.

“Global expansion is undoubtedly challenging for businesses of all sizes, much less SMEs. While many SMEs have achieved remarkable success through global expansion, venturing into new markets can be daunting with unique risks and complexities, and many don’t know how. Launching a business in new countries is one of the most salient areas in which SMBs surveyed in our recent SMB Barometer Report believe they have the weakest performance. That said, it is not an unsurmountable feat,” says Devata.

On supporting innovation

Apart from challenges related to talent and funding for expansion, Kim also highlights the importance of building an ecosystem that supports innovation.

“While Singapore has a vast number of innovations, with NTU and NUS reporting a combined amount of 4,000 inventions and disclosures, Singapore lacks a venture-building ecosystem. The Singapore Budget 2024 should prioritise initiatives that promote the integration of cutting-edge technologies such as AI, alongside investments in robust cybersecurity infrastructure, regulatory frameworks, and educational programs,” she says.

According to Kim, these endeavours are essential for fostering trust among citizens, businesses, and investors while improving transparency, accountability, and the ethical handling of data.

“Increased support for collaborative endeavours involving the government, private sector and academia would be welcome. Corporations looking to adopt new technologies should have access to grants to get started. Pre-qualified startups in Singapore would benefit from introductions to potential corporate clients and VCs.”

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Image Credit: Swapnil Bapat on Unsplash

The post Singapore Budget 2024: For startups, talents and funding remain key challenges this year appeared first on e27.

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East Ventures, a leading sector-agnostic VC fund based in Indonesia, has appointed Sang Han as a Partner for its South Korea fund.

Han will manage the operations of East Ventures South Korea, a US$100 million fund formed in partnership with SV Investment in October 2023.

Also Read: East Ventures, SV Investment launch US$100M fund to bridge SEA, Korea startup ecosystems

“My focus will be on strengthening the bridge between Southeast Asia and South Korea to tap into the complementary synergies of both regions,” said Han.

Han brings 20 years of extensive experience and has held key leadership roles within asset management and VC firms covering Southeast Asia, Korea, and the US. His professional journey includes overseeing diverse corporate development responsibilities and directing investments.

He also played a pivotal role in nurturing the growth of startups, notably during his tenure as the MD of Temasek Lifesciences Accelerator (TLA).

Sang holds a BSc in Computer Engineering from Seoul National University and an MBA from INSEAD.

Founded in 2009, East Ventures provides multi-stage investment for over 300 tech companies across Southeast Asia, from seed to growth stage. It is an early backer of prominent tech companies in the region, such as Tokopedia, Traveloka, Ruangguru, ShopBack, Waresix, Xendit, IDN Media, KoinWorks, Sociolla, Tech in Asia (acquired by SPH), Kudo (acquired by Grab), Loket (acquired by Gojek), and MokaPOS (acquired by Gojek).

Also Read: East Ventures launches US$30M fund to back Indonesian startups

Recently, East Ventures and The Indonesian Chamber of Commerce and Industry (Kadin Indonesia) launched Emission Calculator & Visualization Southeast Asia (ECOVISEA). A free web-based global greenhouse gas calculator, ECOVISEA helps companies calculate and measure their environmental impact.

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

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

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US-based ContextLogic has agreed to sell all the operating assets and liabilities of its e-commerce unit Wish to Singapore-based Qoo10 for approximately US$173 million in cash.

This marks a considerable discount to the previous valuation of Wish, whose parent ContextLogic raised US$1.1 billion in its IPO in 2020 at a US$14.1 billion valuation. Wish, once a leading shopping destination in the US, faced massive competition from Temu and Shein, forcing it to sell its assets.

Also Read: Looking abroad: Capturing the e-commerce opportunity in SEA

The transaction is expected to be complete in Q2 2024. Following the closing, the Wish brand and platform will become a part of the Qoo10 family of businesses.

Post the transaction, ContextLogic will have limited operating expenses and a balance sheet that will be debt-free, with net cash proceeds from the asset sale, approximately US$2.7 billion of net operating loss (NOL) carryforwards and certain retained assets. The Board intends to use the proceeds from the transaction to help monetise its NOLs.

ContextLogic CEO Joe Yan said: “Integrating the Wish platform into Qoo10 will create a true global cross-border e-commerce platform to support the massive market demand. Upon close, we expect the new Wish platform will have an improved customer experience through increased product assortment and merchant selection.”

Qoo10 CEO and Founder Young Bae Ku remarked, “Wish has innovative technology that provides highly entertaining, personalised shopping experiences for its users while serving as one of the largest global e-commerce platforms. By combining our operating expertise and Wish’s technology and data science capabilities, we expect to drive greater success for merchants while providing an even greater marketplace for consumers globally.”

Also Read: What is next for Indonesian e-commerce scene after GoTo, TikTok Indonesia merger?

In 2019, Qoo10 acquired ShopClues, an online marketplace in India, for US$70-100 million. This all-stock deal was the culmination of a prolonged hunt for a buyer by ShopClues, which at its peak was valued at US$1.1 billion in late 2015.

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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 Qoo10 to acquire US e-commerce platform Wish’s operating assets, liabilities for US$173M appeared first on e27.

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

Echelon X, one of the most anticipated tech and business conferences of the year, is not just about networking and insightful discussions; it’s also about offering attendees a tailored experience. Happening on 15-16 May 2024 at the Singapore EXPO, the two-day conference serves as a gathering for all stakeholders from across the Southeast Asian tech startup ecosystem.

At Echelon X, you’ll find top-notch speakers delivering cutting-edge insights on the latest trends in tech and innovation, panel discussions on firsthand experiences from some of the most sought out industry insiders, and a showcase of some of the most exciting new startups from across the region. As such, e27 is dedicated to making sure that your Echelon X is customised specifically for your needs.

Also read: Echelon X: 10 years of empowering the SEA startup ecosystem

Whether you’re an industry veteran checking out the latest in tech, an up-and-coming founder exploring growth opportunities, or a tech enthusiast looking to satiate your hunger for innovation, Echelon X has got you covered. With its range of ticketing options, Echelon X ensures that participants can choose the level of access and perks that best suit their needs and preferences.

Echelon X’s customised experience

Let’s delve into the offerings of each ticketing tier and what they bring to the table:

1. Starter Pass:

The Starter Pass is the introductory, no-frills ticket option, ideal for individuals eager to fully engage in the Echelon X experience on a basic level. Despite being the entry-level choice, the Starter Pass provides a wide range of benefits:

• 2-day Echelon X pass: Gain access to both days of the conference, ensuring you don’t miss out on any crucial sessions or networking opportunities.
• Access to all conference stages: Dive into a diverse range of talks and panel discussions across multiple stages, covering various topics from technology trends to startup success stories.
• Access to the Marketplace zone: Explore the bustling Marketplace, where you can check out and even purchase products straight from the innovators behind them.
• Access to the Exhibition zone: Get up close and personal with cutting-edge products and services showcased by exhibitors.
• Access to the TOP100 showcase zone: Witness the excitement of the TOP100 startup showcase, where promising startups pitch their ideas to a panel of judges.
• Access to roundtable discussions: Engage in intimate discussions on specific topics, allowing for deeper insights and networking opportunities.
• Access to side events: Participate in networking sessions, workshops, and other side events happening alongside the main conference.

2. Premier Pass:

The Premier Pass takes the Echelon X experience up a notch by offering additional amenities to enhance your comfort and convenience:

• All benefits of the Starter Pass: Enjoy everything included in the Starter Pass package.
• Lunch and water: Refuel and stay hydrated throughout the day with complimentary lunch and water provided onsite.

Also read: Vonage to lead customer engagement deep dive in Indonesia

3. Gold Pass:

For those seeking a premium conference experience with exclusive perks and privileges, the Gold Pass is the ultimate choice:

• All benefits of the Premier Pass: Benefit from all the perks included in the Premier Pass package.
• Business Meet Package: Take advantage of a dedicated business meet package, including limited onsite branding opportunities and all-day basic coffee and tea service to keep you energised and refreshed.
• Access to speaker lounge: Rub shoulders with industry experts and speakers in the exclusive speaker lounge.
• Free-flow lounge barista coffee: Indulge in premium barista-made coffee throughout the conference.
• Drinks at the official after party: Unwind and network over drinks at the lively after party, exclusive to Gold Pass holders.
• Echelon X merchandise: Take home exclusive Echelon X merchandise as a token of your premium conference experience.

Join us at Echelon X!

As the countdown to Echelon X begins, mark your calendars for May 15th and 16th, 2024, as the Singapore EXPO transforms into a hub of tech and innovation. Over these two jam-packed days, participants will have the unique opportunity to meet industry titans, visionary entrepreneurs, and game-changing startups from across the region.

Also read: How data can be used to empower mental healthcare in Asia

Whether you’re seeking to soak up knowledge, forge valuable connections, or showcase your groundbreaking ideas, Echelon X promises an unforgettable experience. If you’re ready to be part of this transformative journey, whether as a participant or an official partner, head to our official page now to secure your spot. Together, let’s embark on a journey to reshape the future and make a lasting impact.

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

The post Unlocking the full Echelon X experience through customised ticketing options appeared first on e27.