I spent about 12 days in Jakarta, Indonesia last month, meeting tech founders, investors, executives and operators. Here is a first-hand account and highlights which may be useful for you to know.

Market sentiment

Most people, matching the global sentiment, are plain worried. Everyone understands the funding party of 2021 is over.

Founders have a lot of questions about what they can expect when they go out to raise. Is the market going to be back up in three, six or 12 months?

Companies which were planning to raise in the short-term, are now in a tight spot and looking to shareholders to bridge the gap while companies which recently raised are breathing a sigh of relief. Most are focusing on conserving cash and directing their efforts on proving their business’ sustainable unit economics.

Investors are increasingly herding and hesitant to do non-consensus deals. “Winter is coming” is echoed around SCBD. Such statements are catchy and resonate deeply with people but do not give any sort of clarity to founders and amplify worries about an “abstract winter” i.e., we don’t know what’s going to happen but it’s going to be bad.

Yet, some investors remain optimistic, perhaps rightly so:

• The economy is strong. Indonesia’s economy is stable and growing, with five per cent YoY growth in Q1 2022, partly spurred by commodity prices and partly by a pick up in private consumption.
• Attractive entry prices. Funding winter has brought valuations to earth so if you are an investor with capital to deploy, you can enter great businesses and get a nifty return when wider capital inflows pick up again.
• Strong will thrive. Portfolio companies with strong fundamentals will come out of this downturn stronger i.e., when the debris clears, competitors with weaker fundamentals would have slowed down or shut down.

Real problems, real solutions

Funding winter or not, real problems need to be solved for Indonesians and builders to continue to build effective solutions. For example:

• Quality education access leads to increased global competitiveness (Co Learn, Binar Academy).
• Digital payments penetration and transaction data mapping lead to credit access for the traditionally unbanked (Xendit, BukuWarung).
• Bringing insurance to the new age to promote well-being and productivity of an increasingly diverse/younger workforce (Aman, Oktolife).
• Empowering micro-entrepreneurs to make a decent living (BintanGo, Super).
• Bringing down extremely high transport costs to unlock personal savings/investments (Swoopmove).

For the sake of brevity, I have only given a select few examples covering select sectors. We will be releasing comprehensive sector deep dives later this year.

Investor ecosystem

The local venture capital ecosystem is increasingly self-sufficient (at least for the early-stage rounds) with leading funds such as East Ventures, AC Ventures, MDI Ventures, Trihill Capital, Alpha JWC, Skystar Capital and Intudo Ventures together managing over US$2 billion. Many of them have recently closed new bumper funds and are deploying consistently, albeit in a slightly more paced manner.

Also Read: Funding roundup: SG’s KILDE raises US$350K, East Ventures backs Indonesia’s Riliv

There is a general acceptance that international investors especially ones who have not operated in SE Asia for long and don’t have feet on the ground will pull back for now which leads to a concern of a growth-stage funding gap opening up.

Recent transactions (see Xendit, KitaLulus, Astro) would prove otherwise but there are perhaps exceptions or rather a legacy factor at play i.e., announcements are usually three-four months behind deal closure, do expect a few more announcements of US$50 million+ rounds in the next month or so.

Notwithstanding, some international investors who have been entrenched in the SE Asia ecosystem for long, especially ones with new SE Asia-focused funds or evergreen setups, are looking very opportunistically at the market and we see them maintaining or even picking up the pace which positions them primely given the growth stage supply-demand mismatch.

Where are the Chinese? Historically active Chinese VCs in SEA, have been relatively quiet in recent times. However, it is understood there are some new entrants in the market and are looking to establish an on-ground presence in Indonesia. Plus India not being a very open market for Chinese investors, makes Indonesia a net benefactor.

Korean and Japanese investors, although never the dominant set, seem to be plugging away with deals here and there.

Middle Eastern investors have a significant amount of capital committed to Indonesia but mostly via the LP route, backing local VCs, rather than investing directly (for the moment).

Public markets and exits

The crown jewel of Indonesia, GoTo, has fared poorly on the IDX, the market cap has plunged 25 per cent since listing on 11 April 2022. To be fair, there are some knock-on effects from the global market crash, but GoTo will have to readjust to the new reality quickly and start delivering on its promise for its own sake but also for its peers.

To be noted the local listing was most likely a precursor to the eventual US listing but we can expect a delay to those plans. Some other notable tech or tech-related listed companies on IDX like Bukalapak and Bank Neo Commerce (Akulaku-backed) have not done well either.

However, making IDX into a reliable listing option for tech companies is a priority for the government, in the longer term, IDX can become a major listing destination in SE Asia for sub $1b tech companies and a secondary listing destination for larger Indonesian unicorns subject to an establishing an initial track record.

In terms of tech M&A activity in Indonesia, we see more volumes coming through in the medium-term, taking buyer inquiries as a leading indicator. Especially when we look at the micro (US$1-10 million), small (US$10-50 million) and medium (US$50-200 million) size transactions, a lot of companies have done well growing their businesses.

But at the same time have reached the end of the runway in terms of scale, expertise and stamina while big players (potential acquirers) are running away with an unassailable lead, most of the capital is likely to gravitate to these supposed winners given their growth prospects, organisational depth/breadth and expansion ambitions.

SEA expansion

Indonesian companies with unicorn ambitions are looking at neighbouring markets for growth as their domestic serviceable obtainable market saturates.

Also Read: This family office has launched a startup accelerator with a mission to protect, restore biodiversity in SEA

Already, we see large Indonesian tech companies establish a corporate executive base in Singapore, using it as a launchpad into other markets as so many Singapore-based tech companies have done before.

Partly driving this are its shareholders i.e., the Indonesia-first funds (some mentioned before) which have raised significant growth capital and need to deploy across more markets to keep delivering returns, from a capital efficiency pov, having a portfolio grow is relatively easier and synergistic than investing in fresh companies in new markets.

The subtle Indian influence

Operating in both markets of India and Indonesia, I can’t help but notice the similarities in terms of demographics, consumer behaviour and outlook which drive similar business models and value propositions, with Indonesia following India’s example, perhaps two-three years out.

Another peculiar thing I noticed while talking to early-stage founders is how they increasingly referenced Indian unicorns when describing what they’re building.

For example, X for Indonesia, the X often being a bigger Indian tech company. It is a bellwether of the increased capital, company and people flow between the two countries, a bridge we certainly wish to help build in the coming years.

People impact is already prevalent via Indian-origin founders, who seem to be doing quite well for themselves, having built some of the leading tech companies in Indonesia such as Ula, BukuWarung and Co Learn, to name a few.

Signing off

Indonesia is better positioned than ever, despite the current global downturn, relative to a lot of its peers in terms of market dynamics, self-sufficiency, local capital base, government support, and its position in international geopolitics.

Most of all, it is great to see so many strong companies being built by an ever-increasing base of super talented founders and tech execs. I am betting on them to endure this interim blip of a funding winter and thrive through and after.

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The main function of insurance is to ensure a smooth cashless claim settlement or reimbursement along with key product features, but is the sector doing enough to help the insurers?

India’s healthcare sector stood at US$160 billion in 2017, and it is estimated to reach up to US$372 billion in 2022, according to Statista. India’s healthcare market, without a doubt, is now one of the largest sectors in terms of revenue and employment as the industry continues to grow at a rapid speed.

From Long Turnaround Time (LAT) to submitting truckloads of paperwork, from long lines at TPAs (third-party administrators) to pestering doctors to issue another letter for a claim, a health insurance claim often leaves one frustrated. It is not surprising then that ‘claims’ has become a differentiating factor for most providers in the market. 

Insurance providers need to get smarter and move beyond risk remediation to create partnerships with their customers and mitigate risks. With the scope of the market expanding and maturing, lesser capital, new entrants and increasing competition, and tech-enabled customers, insurance companies need to reinvent the whole cycle of how they service their customers.

A ‘claim’ is crucial to the retention of the customer and the company’s growth, given that it might be the only touchpoint between a consumer and the insurance provider.

Also Read: Why India needs to improve access to instant healthcare solutions

Here are the challenges that need to be addressed:

Multi-channel seamless experience

With COVID-19 pushing for digital adaptability, the Indian consumer is increasingly becoming platform-agonistic, beyond metros as well. Technologies such as artificial intelligence, big data analytics, and blockchain can help transform IT systems for the insurance provider.

Insurance providers need to adopt AI-powered platforms to help agents market the right policy, set up virtual branches, and then provide a seamless experience when settling claims.

According to IBM, two years before the pandemic in 2018, only 12 per cent of insurance executives reported prioritising true digital transformation, moving toward entirely digitised data and processes, with intelligent workflows spanning systems across the insurer and ecosystem partners.

This number is expected to jump to 64 per cent by 2022. The data that the insurance company receives from the prospective client can help it create a seamless and personalised offering for the person.

Risk concierge

Risk concierge helps boost business value at multiple levels. By moving from being just a seller, insurance companies need to become companions by acting as a concierge for their health needs.

Essentially, a risk concierge finds out what a customer wants and provides what they need at every step of their health insurance, from buying one to hand-holding the insurer through their insurance cycle.

It should be able to assess risks, provide recommendations, and schedule health check-up appointments in case of impending risk to a person’s well-being. For a risk concierge to work well, the company would need to invest heavily in cloud, AI and connected technologies such as the Internet of Things (IoT). 

A concierge helps address the health risk of an insured individual holistically, leading to better loyalty from the consumer and creating a true competitive advantage in the over-crowded insurance market, which is inundated with new products and players every day.

It is imperative to move from traditional health insurance providers to an emerging concierge, especially in the Indian market.

Going cashless

Digital claims can increase customer satisfaction scores by 20 per cent, reduce claims expenses by 25-30 per cent, and improve claim handling accuracy, by reducing both overpayments and underpayments, according to McKinsey.

However, a cashless process can only work if the insurer is fully digitally-covered, ensuring end-to-end digitisation of the claims journey. 

Multi-channel FNOL (first notice of loss), automated claims segmentation, and digital claims status tracking are some of the digital processes that an insurance company can adopt.

Servicing the non-digital natives

However, since many people still don’t have credit cards or cannot use digital payment modes, overreliance on IT might undermine customer experience in the most important moments of a customer’s journey. Hence, insurers need to balance the integration of automation with differentiating personal services. 

Also Read: Shaping the future of healthcare with smart hospitals

While most Indian consumers are increasingly moving online, the category called baby boomers (born between 1946 and 1964) is still struggling with many aspects of technology. This category is the one that needs the claim assistance the most, and thanks to their age, they need to visit the hospital quite regularly.

For a consumer, who is not a digital native, it is imperative for insurance providers to preserve the human touch in insurance claims transformations. The answer would be to balance both aspects, IT and human approach, to provide a holistic experience. 

Communication

Do your communication channels for next-gen customers, and baby boomers line up with customer preferences? With young customers preferring full-service apps or non-selling direct outreach through affinity and community groups, many people need that hand-holding through each step.

As a health-insurance provider, is your communication segmented based on these preferences? 

Moreover, insurers should look at providing services that add value for and delight customers. Based on customer feedback, it should continually improve service offerings, usability, and performance.

This value proposition is usually an underestimated element of a digital transformation. Still, it adds much more value than just introducing newer products in the healthcare insurance market in the longer run.

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Despite facing overcapacity issues during its formative years, China’s electric vehicle industry has become a magnet for investment within China and worldwide.

VCs are betting big that China will become a major profit centre for global alternative fuel vehicle production, even with the inevitable shakeout and consolidation that is sure to come over the next decade.

Various Chinese startups have announced their ambitions to attract foreign buyers beyond the Chinese borders. In 2021, Chinese electric vehicle startup Aiways forged ahead with its plan to export up to 10,000 vehicles annually in Belgium, Denmark, and Israel.

Xiaopeng Motors (XPeng) is exporting its G3i electric SUV to Europe. Foreign brands such as Tesla and BMW’s successfully exporting “Made in China” electric cars to other markets has also made it a boon to the internationalisation vision of various local players.

The state of Chinese electric vehicle startups

Local electric vehicle startups have mushroomed in the country. Around 500 electric vehicle startups had been established in China by 2019, including some 300 electric vehicle makers. The number of new Chinese firms connected to “new energy vehicles” even increased by 81,000 until mid-August last year, marking up the total to over 321,000, according to Qichacha.

“I’ve been in this industry for 30 years, and in the last couple of years, I’ve seen more change in the automotive industry than I have in the previous 28 years,” said Sam Olsen, Singapore-based Co-Founder of the strategic consultancy MetisAsia and a commentator on Chinese-Western relations.

“You’re in the middle of a very quickly changing industry and therefore, it’s not surprising that lots of Chinese startups are going to be looking at automotive.”

Given the potential, Chinese manufacturers are struggling with capacity issues as sales of non-fossil fuel vehicles lag behind production potential. According to the China Association of Automobile Manufacturers, the new energy vehicle (NEV) sector was only operating at five per cent capacity by the end of 2020.

It had the capacity to build 26.7 million NEVs but only sold 1.4 million. Even worse, only 89 out of the 300 NEV manufacturers actually produce vehicles. Data from Crunchbase also show that 88 cities (out of 655 cities as of 2016) in China are home to at least one electric vehicle startup.

China’s minister for industry and information technology Xiao Yaqing said in September 2021 that the country’s electric vehicle firms are “mostly small and scattered” and in dire need of consolidation.

Since 2017, China has attempted to reduce overcapacity; however, its efforts strumbled in April 2020. For fear that the COVID-19 outbreak might spell the end of its world-leading electric-car sector, Beijing has continued to make it easier for ambitious NEV manufacturers to enter the market.

The same is true at the municipal level. Local governments have supported investments and subsidised local enterprises to prevent bankruptcy regardless of consumer demands. For example, Nanjing provided subsidies to keep Chinese-German all-EV automotive brand Byton afloat for years.

This is because the regional government and political leaders’ career prospects are often tied to regional economic growth, and provinces rely on company taxes to supplement their overall income. In a more aggressive push, provincial authorities even encourage local automakers to expand overseas in order to ramp up economic growth in their areas.

Also Read: The growth of electric vehicles is saving the planet, one trip at a time

“There are a lot of production sites that are currently unused, partly because we have startups, but also major companies like Xiaomi or Evergrande that actually invest a lot of money into these production capacities but actually have not been selling cars yet,” said Gregor Sebastian, an analyst at Mercator Institute for China Studies. “This is a huge drain of money while China is also tackling all sorts of other problems.”

This posed a threat to the future of those “redundant” electric vehicle firms. At the moment, Xpeng, and NIO are the big names within the electric vehicle startup community. But many smaller ones that most people haven’t heard about are not making any profits. The question is what is going to happen with them in two years when the government cuts down on subsidies?

As the subsidies are phased out, and Beijing recognises that it now has a handful of its businesses selling 10,000 vehicles each month, electric vehicles may fall farther down the priority list in terms of pure investment. According to reports, the National Development and Reform Commission is working on legislation for the NEV industry, including minimum production-capacity utilisation rates for provinces and stiffer regulations for approving new projects.

The previous subsidies have given ground for the emergence of Chinese carmakers in literally all segments, which, is also complicating the competition landscape with both domestic and international players.

NIO, the Chinese electric vehicle champion, is striving to foray into high value-added luxury segments of the NEV sector, which was largely dominated by German brands like Audi or Mercedes Benz. But this company has not only been facing stiff competition with international carmakers joining the game but also suffering from competition with other local startups vying for market share.

“This fragmentation is hurting really big startups,” added Sebastian. “I don’t think they [other small electric vehicle companies] are definitely going to succeed. But as long as government subsidies fuel this fragmentation, this is also hurting them in some way.”

Chinese electric vehicle industry catches the fancy of global investors

A large amount of funding in the world today is flowing toward renewable energy. Energy transition investment hit half a trillion dollars for the first time in 2020, according to clean energy analysts BloombergNEF.

BNEF said that the world invested momentous amounts in low-carbon assets, from renewables to cleaner transport, energy storage to electric heat. Among those, companies, governments, and households put US$139 billion of investments into electric vehicles and associated charging infrastructure. This is up 28 per cent versus the previous year and is a new record.

The impetus for climate financing going into electric vehicles is obvious as transportation accounts for around one-fifth of overall greenhouse gas emissions, making it one of the main drivers of climate change.

The UN agency even warned in a 2014 report that seven million deaths each year in the world are due to tiny particulates from cars, power plants, and other sources.

“While they can’t do the job alone, electric vehicles have an indispensable role to play in reaching net-zero emissions worldwide,” Fatih Birol, executive director of the IEA, noted in the Global EV Outlook 2021 report.

The less obvious driver is attributed to the emergence of acceptable and affordable technologies for electric vehicle products and solutions, which gives investors room for a higher return prospect. To illustrate, the price of an electric vehicle battery had dropped from US$1,100 per kWh in 2010 to only US$137 per kWh in 2020 or even as low as US$100 per kWh in China, according to IEA’s report.

“With the evolution of lithium-ion batteries, the price is coming down. Also, the improvements in the electronics and powertrains products that are acceptable in performance for regular users have become available,” said Gopal.

Per data compiled by the author of this article, as of February 2022, the total funding into around 200 Chinese electric vehicle startups listed on Crunchbase amounted to US$39.75 billion, including the highest-funded electric vehicle startups such as WM Motor (US$5.3 billion), NIO (US$5.4 billion), Xpeng (US$4.5 billion) and Li Auto (US$1.2 billion).

This illustrates the strength of China’s venture capital market, which is second only to the US worldwide. However, for early-stage capital, most of it is still coming from local sources, according to data compiled by Ross Brown and Augusto Rocha.

Also Read: How electric mobility startups are tackling climate change in Asia

“Traditionally, the most money that goes into Chinese startups is Chinese money,” said Sam Olsen. “A lot of firms find it very difficult to agree to invest in China because they’re worried about political issues.”

Take the Huawei problem as an example; as one of the largest telecom suppliers in China and the world, the Trump administration cracked down on Huawei Technologies amid the U.S.-China trade war in 2019.

The firm was unable to purchase U.S.-made chips or use US machinery and software for its productions. Countries including New Zealand, Australia, and Japan even crossed out Huawei from their 5G plans.

However, in the face of the overcrowded electric vehicle startup picture and complex political landscape, international investors bet on the Chinese electric vehicle industry in a different way. They focus on state-of-the-art technologies in other niches such as public transit, battery, and charging solutions. Besides, there is also a huge interest from the Chinese government and investors looking at autonomous vehicles, LIDAR systems, and chips.

“There are a lot of startups who are trying to build premium, popular products. NIO, for example. I think that is certain niche areas where potentially even high-risk capital funding can come in,” Gregor said.

For example, some of the world’s biggest oil companies, including BP and Shell, are seeking investments in new low-carbon technologies to reduce their dependence on fossil fuels. They bolster their venture capital arms and keep a close eye on the Chinese tech startup market.

In July 2018, BP invested US$10 million in the NIO Capital US Dollar Fund to together explore opportunities in China’s NEV ecosystem.

In 2019, bp Ventures sealed a deal with PowerShare, a startup providing integrated hardware and software solutions for electric vehicle charging in China; PowerShare connects electric vehicle drivers, charge point operators, and power supply through the platforms, improving the charging experience by locating a charge point to paying for the power supply.

The VC also made a minority investment in Publisher, a Chinese startup with an innovative digital software stack that enables charging to private vehicles and fleets.

“We are not only investing in new forms of charging infrastructure or developing new electric vehicle charging hubs, but we are also investing in technologies which will simply make that transition much easier,” Sophia Nadur, managing partner at new energy-focused venture capital firm bp Ventures, stated in a Climatic talk show.

“In the area of battery technology, we are actively looking at companies that will support the delivery of ultra-fast charging options for customers and fleets.”

In the case of Shell Ventures, the VC firm joined the Series B funding round of Beijing-based XCharge, a cutting-edge electric vehicle charging solution supplier that provides customisable “one-stop” charging services to allow more successful business models.

Since 2015, the startup has deployed more than 35,000 chargers, dispensing over 20 GWh of power per month to roughly 120 electric vehicle models in Asia-Pacific and Europe. Apart from Shell, XCharge also received a strategic investment from Samsung.

A prospect for internationalisation

Driven by hyper-competition and globalisation, startups that develop their business around a new technological platform are more and more influenced by the complexity of markets, capital, industries, suppliers, and technologies.

Therefore, technology firms need to be innovative in developing their business models, but they are also required to internationalise fast and instantaneously from inception. This urges them to go international and adopt appropriate management tools with a systemic view of the firm and its environment.

XCharge, for example, decided to foray into European markets in its early days and achieved significant milestones. The innovative electric vehicle charging solution provider had an office in Hamburg, Germany for three years and will probably have branches set up in the US.

“A lot of companies become successful and then they go global, but we are in the case where we start the global business from the beginning,” said Simon Hou, CEO and Co-Founder of XCharge. “It’s a new way of building a business that is working.”

Following this path, Hou and his colleagues built a globalised team resulting in more global investors and businesses worldwide. He emphasised that China now has a talent base that is ready to make international brands. Hou himself was also an ex-employee at Tesla (China) and Mercedes Benz (Beijing).

Also Read: Thinking out loud: Are electric vehicles as sustainable as we believe?

“If you look at car manufacturers, it’s always been international in every country. But the thing exciting about the electric vehicle business is that new entrants have opportunities and our customers are very open-minded in terms of taking new ideas and new things,” added Hou.

“China’s probably the largest automotive market globally, so you would expect to see some brands in that market. I think it’s a natural development pattern, and some will become successful.”

However, the automotive market is very brand-driven, especially for personal cars. Certain brands have built up a brand value over several decades, and that is hard to beat. In the twentieth century, automotive technology was dominated by three major geographical blocks.

They were the Japanese, the Europeans, and the Americans. Therefore, it would not be an easy game for Chinese brands to make their mark in the global market.

“It will be a harder climb for an unknown brand,” said Gopal. “But these are not one- or two-year kind of stories, companies are here to play this game for decades and we should look at how they build out their brand over time.”

To give a very concrete example, in the 1980s, Hyundai Excel, Korea’s first entrant to the US market, was not very well respected. They were considered poor quality and low reliability, though they could compete on price.

This, however, made ways for Korean brands to adjust themselves, which led to Hyundai’s heavy investments in manufacturing quality, design, and long-term research and development since 1998. According to JD Power and Associates, it is very well regarded for quality, which was even tied with Honda and second only to Toyota by 2004.

“I think it remains to be seen as to how the different brands from different countries evolved,” stated Gopal. “You also have to keep in mind that the existing players are not going to sit quietly and just let somebody else come and take their market share.”

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Vietnamese blockchain gaming guild Ancient8 said today it has completed a US$6 million private financing round led by Makers Fund and C² Ventures.

Existing and new investors, including Pantera Capital, 6th Man Ventures, IOSG Ventures, Folius Ventures, Morningstar Ventures, Th3ia Capital, Sky9 Capital, and Play Ventures, also joined.

Ancient8 will use the money to accelerate the development of the infrastructure for GameFi and the metaverse by building the next generation of software products, community, and guild. Ancient8 will also develop several GameFi infrastructure software products.

Founded in July 2021, Ancient8 builds software to create infrastructure for GameFi. It helps GameFi studios identify high-quality gamers and run Web3-native targeted advertising through the Ancient8 GameFi Identity product and Launchpads.

At the same time, the firm helps gamers and crypto communities create their GameFi identity profile, track and showcase their achievements in Web3, discover high-quality blockchain games, access guild scholarships, and learn about blockchain more effectively.

Also Read: These 21 Web3 startups prove why Vietnam is world’s most surprising crypto hotspot

According to a press statement, the startup has built an active community of 200,000+ members and manages a blockchain gaming guild in Vietnam with 3,500+ scholars. Besides, it has partnered with 25+ top GameFi projects, including Axie Infinity, CyBall, Phantom Galaxies, Bigtime, Tatsumeeko, Delysium, Blast Royale, Apeiron, and Angelic.

“We will continue to expand our product offerings, partner with more innovative projects and games, and grow our influence and reach with a large global community,” said Howard Xu, Co-Founder of Ancient8.

In the coming months, Ancient8 will launch a GameFi Identity product and a pair of GameFi Token and NFT Launchpads designed to enhance the go-to-market strategy of Web3 games. Ancient8 will use these products to connect top blockchain games with its deeply engaged global community of GameFi enthusiasts and enable users to enjoy the most intuitive experience possible in the world of Web3.

In January this year, Ancient8 attracted US$4 million in a seed funding round co-led by VC funds Dragonfly Capital, Pantera Capital, and Hashed.

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Today’s digital world is filled with opportunities for abundant business growth. But the abundance of opportunities creates a lot of noise making it harder for brands to stand out online.

That’s why building positive brand equity can help brands gain traffic to their content, have more successful launches, gain press attention, and be able to charge more premium prices. But how do you build that kind of brand reputation?

Brand equity is built on brand awareness, trust, and the brand’s digital footprint. It is the perception of a brand and can have a positive or negative perceived value.

A great way to think about brand equity is, the value a brand gives. How can a brand stand out and offer more value, especially in this competitive digital age?

Focus on individuality and bring the whole person to work

One of the main issues when it comes to branding is conformity. Especially when someone is working to build a personal brand. There are so many great examples of brands to use for inspiration but there is also far too much copying. 

It’s no surprise as we are taught to conform. But success in branding actually comes from our individuality and our stories. Businesses and individuals building online brands need to think about what “secret ingredients” they have to offer. It is often diversity that makes a company successful. Creativity comes from diverse ideas and backgrounds. It comes from brainstorming and throwing out different opinions. 

Building positive brand equity in today’s digital world is about a brand coming into alignment with purpose. Everything about a person’s individuality can influence the brand. Think about today’s most successful though often controversial founders and CEOs that have an online presence. They are very strong personalities who are not afraid to bring themselves into their work. Their personal values drive the brand’s success. 

Brands that work to abolish conformity and create a safe environment to experiment will see the most success. 

Many executives, however, have achieved their positions by conforming. So as executives we have to ask ourselves, how much fulfilment are we experiencing, and how much more could I contribute to the success of this brand by bringing more of myself into it?

Learn to share your value in a way that captures

Ultimately we have to remember that our brand’s value is not encapsulated by what we think of it but by how it is perceived. How is the brand held in the minds of customers and followers? That’s your brand’s equity. The ones you are seeking to influence and impact, decide the value. 

Also Read: How luxury brands are experimenting with the metaverse

What they want to see is authenticity. Are you the person you say you are? Are you working to deliver the value that you claim to be creating? It is a combination of the digital and human sides coming together in beautiful harmony to create a digital footprint that will leave a positive impact. 

The search engines have their say. If you can’t be found by the people that need you, there is no value. But just being visible online is not enough. Great branding is part strategy and part you. 

One of the best ways to show your human side is with video. Video shows so much more than just writing out a bio or brand statement can. On video, your audience can see your personality. Your tone and body language, even what’s behind you. It’s a behind-the-scenes glimpse into your world and they love that.

Balance out performance marketing with brand marketing

We like to look at the numbers. The statistics, clicks, and shares. These are the things that are trackable and they do give us feedback but not the whole picture. These performance markers are important. But the numbers are not what fosters an engaged community. 

You need a combination of performance marketing and brand marketing. Performance marketing gives you feedback and keeps you profitable while brand marketing shares your why and builds engagement and loyalty. 

Brand marketing is a huge part of building a brand’s equity. It’s where a lot of companies fail. Outsourcing the content marketing side can help. Having a specific team that focuses on just the content without getting bogged down in the logistics of the business can make all the difference. It takes stepping back and looking with fresh eyes, your audience’s eyes. 

The community-building aspect is one of the reasons influencer marketing has become so popular and works so well. People will trust a recommendation from others much more than a company’s ad campaign.

Know how important brand equity is in this digital world?

We alluded to this in the beginning but brand equity is more important now because technology has made it so much easier to start a brand. A smaller barrier means more competition and certainly does not mean everyone will be successful at branding. There are so many resources, many of which are free, to create a website or landing page online and start a brand. Often this leads to more noise and less quality. 

Also Read: How small businesses can boost brand visibility via videos and messaging

There are a lot of mediocre brands. Don’t be one of them. Work to offer real value. This can take time and learning. It means putting in the work to connect and engage. Time to evaluate the perception your brand has and develop your story. 

Know that building brand equity is important and put effort into it.

Go where your people are and show up consistently

You don’t have to put focus on every single platform that comes along but you do have to show up where your potential audience is. 

The marketing channels that are popular change. Those who get on new platforms quickly can gain more traction just from less competition. This does not mean that you need to be on every social media wave. But you do need to be where your audience is. Meet your consumers where they are. Where they love to hang out and spend time. 

Search for your ideal customers. Where are they? Go there. What kinds of conversations are they having? Get involved and connect. 

Follow these steps and you can build brand equity over time, stand out from all the mediocre brands online, and build trust with your audience. 

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The benefits of neurodiversity are clear. People on the autism spectrum are, as a group, significantly more focused than average. They have a long attention span and can work for hours on a single project without interruption.

They don’t get distracted by office chatter, water cooler talk, or Facebook notifications from friends. This can be a tremendous advantage in an office environment where multitasking is often seen as the norm.

What is neurodiversity

Neurodiversity is a natural difference in the way people think and communicate.

It’s often defined as “neurological differences that are not disorders,” or “differences in how we process information.” These can include autism spectrum disorder, attention deficit hyperactivity disorder (ADHD), Tourette’s syndrome, dyslexia, dyspraxia and other conditions characterised by unusual sensory experiences or motor control issues.

If you’re reading this, chances are you don’t need to be convinced that neurodiversity is a good thing. But employers might. Here are five reasons why your company should consider hiring neurodiverse people:

• Neurodiverse people have unique skills
• Neurodiverse people are loyal and hardworking
• Neurodiverse people are creative thinkers
• Neurodiverse people have specialised skills in areas like mathematics, music, or computer science (where they can use their brain differently from non-neurotypicals)
• They offer an advantage to the entire business because they make it more inclusive

It’s not “nice” to hire neurodiverse people; it’s smart. Employing people with differences in thinking means more creativity in your company. It also means more innovation, new perspectives and fresh ideas.

Neurodiverse individuals are more creative and innovative and bring fresh ideas to the table. They approach problems differently than people without differences in thinking, so they’re such an asset to any company.

With that in mind, here are some reasons why neurodiversity can be an asset:

Neurodiverse employees are more creative

No matter where you look, plenty of evidence points towards this being true.

Also Read: Autistic founders and advocates share their vision of a more inclusive workplace

A study from Stanford University found that people with autism were better at finding solutions for seemingly intractable problems than their peers who didn’t have autism spectrum disorder (ASD).

And research from Harvard University indicates that having ADHD can be beneficial at work if you’re doing something creative. It helps you stay on task!

Neurodiverse employees will bring something unique to the table and help you solve business problems in a way that others can’t.

For example, when a neurodiverse employee works on your team, they may be able to see things a bit differently than their colleagues. They may come up with solutions that others wouldn’t have thought of before because their perspective does not limit them.

Or perhaps they have an idea for solving a problem but don’t know how to explain it, so everyone else understands. A neurodiverse employee could provide input into how this idea could be better communicated or find someone who can help them express it more clearly (and therefore solve your company’s problem).

Neurodiverse employees are loyal and hardworking employees

They come up with creative solutions because they see things others don’t see or think about things others don’t think about naturally.

Neurodiverse people excel in the workplace because they’re self-starters who don’t need to micromanage, making them great team members. Neurodiverse employees are independent thinkers who aren’t afraid to speak up when something’s wrong with the company or its policies, so their ideas can significantly impact your business.

Neurodiverse people are also great problem solvers since they tend to think outside of the box more often than non-neurodivergent individuals do, which means that if you’re struggling with something at work, whether it’s productivity issues or a faulty process, you’ll find someone who will have an answer for you if they’re part of your team!

Neurodiverse candidates are self-starters

They are creative, independent thinkers who can help companies achieve their goals, so long as their ideas are encouraged and rewarded.

People who are neurodiverse make great additions to small teams or as self-starters. They are creative, independent thinkers who can help companies achieve their goals, so long as their ideas are encouraged and rewarded.

If you’re a hiring manager looking for a way to boost your company’s productivity, consider this: neurodiverse candidates are excellent problem solvers. They will not only think outside the box but also try out new strategies that may seem crazy at first but will ultimately lead them to success.

One of the benefits of hiring neurodiversity is that neurodiverse people often have highly specialised skills, like amazing recall or an innate ability to analyse data, which makes them great employees in many parts of a company’s operations.

Also Read: Towards an inclusive society: Singapore-based startups that are building solutions for people with disabilities

In addition to being more loyal and hardworking than neurotypical employees (NTs), those with autism and Asperger’s syndrome are less likely to quit their jobs because they want stability and routine. They’re also good at working independently, so it’s easy for them to get things done without much supervision.

Many companies hire NTs who have mental health issues such as depression or anxiety: Their diagnoses drive them toward perfectionism, and higher productivity levels than your standard employee would achieve without an issue holding them back from reaching their full potential at work.

Neurodiverse employees are loyal and hardworking because they need their jobs to survive in a society that doesn’t always understand them. They will work harder than anyone else because they know how important it is to be successful at work, pay their bills on time, and have enough food in their fridge when the month ends.

Conclusion

There are many reasons to hire neurodiverse employees, and you’ve just read about some of them. If your company is looking for smart, creative people who can bring something unique to the table and solve business problems, then hiring a neurodiverse employee might be worth exploring.

When we’re hiring individuals with differences like ADHD or autism spectrum disorders, it’s important to remember that these conditions come with many diverse talents (and possible challenges).

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It has been over a month since crypto-assets TerraUSD (UST) and Luno crashed.

To explain the crashes in simple terms, in early May, the UST stablecoin — pegged against the US dollar — was trading at US$80 a coin, but it tanked to 35 cents following a massive sell-off. Its sister currency Luna also dropped and became almost worthless.

Some experts say the crypto crashes were not surprising — there was a bubble of irrational exuberance in cryptocurrency, which was already starting to deflate even before UST and Luna plunged.

While the crashes have rattled the market, industry watchers feel such events are healthy and necessary for the long-term future of cryptocurrency. Moreover, they will encourage many investors to think and analyse opportunities carefully.

On the flip side, the crashes have given more ammunition to policymakers globally to regulate the trading of cryptocurrencies. The US government is already seized of the matter and believes that regulation is essential to protect investors’ interest and guard them against financial contagion.

Also Read: What the fall of Terra Luna and the Asian financial crisis have in common

But the moot question is: can regulation alone restore people’s confidence in digital assets?

“Surely, governments will attempt to regulate crypto trading,” says Eddie Thai, General Partner of Ascend Vietnam Ventures, an early backer of Axie Infinity. “Some regulations may be necessary to restore confidence in the eyes of many retail investors. But I don’t think regulation will be the primary driver of overall investment interest in crypto versus potential financial gains and other factors.”

In any new space, he adds, governments often struggle to design and enforce well-balanced regulation; crypto is even harder to regulate effectively because of its fundamental design. “It’s this design that attracts a lot of crypto investors. Confidence will be gained back as investors become more knowledgeable about cryptocurrencies and their risks and as builders improve their design and execution.”

Even before the UST crashed, several governments had begun examining crypto regulations. For instance, Singapore in April approved legislation to tighten rules for cryptocurrency providers. The new law requires virtual asset service providers in the country which only do business overseas to be licensed.

Malaysia has also made it clear that it has no intention of recognising cryptocurrencies as legal tender.

“This crash will likely increase the urgency of governments and regulators to hasten their work on regulations,” opines Bobby Ong, Co-Founder and COO of CoinGecko, an independent cryptocurrency data aggregator. “We believe rules, if appropriate and proportionate, could help eliminate some outright scams so real projects could flourish. Beyond that, it is up to the projects to build sustainable offerings that will gain investors’ trust and confidence.”

Certainly, policymakers are worried and are taking every step to regulate and protect investors from potential losses in the future. However, many governments are still in the dark and have a vague idea about the differences between digital assets.

“What is more important is that governments are educated about the differences between various assets. A few regulated (private or public) stablecoins (like USDC) can emerge as default stablecoins,” says Kenrick Drijkoningen, General Partner at Web3 investor Play Future Fund.

Agrees Chris Sirise, Partner at Saison Capital: “Regulatory frameworks will be an essential driver of confidence in the sector. There are many mechanisms for a stablecoin to maintain its peg. Having one approved by regulators and audited by reputable third parties on an ongoing basis will increase confidence significantly. However, there is still a case to be made for decentralised stablecoins. That category will take time to rebuild trust, especially among retail investors.”

As all the experts mentioned above indicate that crypto should be regulated for the benefit of retail investors. But is regulation really possible?

Also Read: The 27 Web3 startups in Singapore that show crypto is more than Terra Luna and stablecoins

“To be very honest, from a functional and execution point of view, it’s impossible to regulate crypto markets. It is like a ‘casino’ that cannot be shut down,” says Elvin Zhang, Executive Director at Startech Global Ventures (part of Sinarmas Group).

As for the expected RoI, he says above traditional average (50 per cent annual internal rate of returns) can still exist in the semi-regulated ‘casino-like’ asset class. “Normal core productivity-related returns (less than 50 per cent) will veer back towards the regulated financial markets, and seasoned investors will find the two more and more differentiated when forming asset allocation strategies. General population confidence should then follow the above asset class bifurcation as well.”

But still, it is impossible to shut off something that is truly decentralised finance. The only thing governments can do is to control the valve that pumps money into the crypto markets. “But there is already capital control, meaning if you get money through some dark web, you are subjected to money laundering regulations. So that is the maximum governments can do,” Zhang says.

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Copyright: fellowneko

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Indonesian crypto wallet, trading platform Pintu scores US$113M Series B
Investors include Intudo Ventures, Lightspeed, Northstar Group, and Pantera Capital; Since its launch in April 2020, Pintu claims over 4M users have installed its app, up from 500,000 in May 2021.

How CoinDCX aims to be India’s gateway to the broader global crypto ecosystem
CoinDCX, a unicorn crypto exchange with 12.5M+ users, recently launched CoinDCX Ventures to nurture the crypto and Web3 industry in India and beyond; In April, it closed over US$135M in Series D round.

Vietnamese blockchain gaming guild Ancient8 nets US$6M
Investors include Makers Fund, C² Ventures, Pantera Capital, 6th Man Ventures, IOSG Ventures, and Play Ventures;
Ancient8 helps GameFi studios identify high-quality gamers and run Web3-native targeted advertising.

Request Finance raises US$5.5M to simplify enterprise crypto payments
Investors include Animoca Brands, Balderton Capital, and XAnge; Request Finance aims to simplify and automate invoicing, expenses, payroll, and accounting in crypto for more than 1,900 Web3 teams.

All hands on deck: How Iron Sail strengthens blockchain gaming ecosystem through collaboration
Launched in October 2021, Iron Sail results from a partnership between blockchain-based game hub Whydah and seven local gaming studios.

How the metaverse opens new opportunities for education
Education in the metaverse will be more democratised, the academic curriculum will be more equitable and open.

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Singapore fintech Capital C scores US$54M in fresh funding
Investors are Phillip Capital, Luminor Capital, Paradise Group, and Citystate Group; Capital C’s products include individual financing, SME financing, vehicle financing, and BNPL.

StashAway lays off 14% of staff
The robo-advisor StashAway has cut 31 staff members across five markets; The layoffs come after the company raised US$25M in a Series D funding round led by Sequoia Capital India in April last year.

Tiger Global-backed Lummo cuts 150+ employees
Inc42 previously reported that the company had let go around 100 to 150 employees in Indonesia as well as around 50 to 60 people in India; Lummo has two apps under its umbrella: LummoShop and bookkeeping app BukuKas.

iPrice Group lays off 20 per cent of employees
The layoffs are part of the group’s several measures to focus the business on its core mission, “to help people save money” shopping online; The decision comes three months after iPrice closed a US$5M from Itochu and KDDI Corporation.

Indonesian fintech startup Aino aims for IPO in 2023
The firm has raised an undisclosed sum in pre-Series B from Japan’s TIS Inc and Nippon Keei; It raised US$4M Series A from TIS in 2019; Aino provides digital payment methods in a number of sectors, especially public transport operators.

Why global investors are eyeing China’s EV landscape
Despite facing overcapacity issues, local electric vehicle startups have mushroomed in the country; Around 500 EV startups had been established in China by 2019, including some 300 EV makers.

Omnistream closes US$7M Series A for global expansion
Investors are SIG Venture Capital, Delivery Hero Ventures, Spiral Ventures, and Wavemaker Partners; Omnistream helps retailers optimise their physical footprint by generating store-level planograms that optimise assortments for hyperlocal demand.

Razer Fintech acquires E2Pay to further expand into Indonesia market
E2Pay provides a wide range of payment solutions to merchants and financial institutions, including payment gateway, e-money, and remittance services licenses in Indonesia.

watchTowr can tell an organisation in real-time if it can get compromised
The Singaporean cybersecurity startup bagged a US$2.25M seed funding from Paul Allen’s Vulcan Capital and Wavemaker Partners in Feb 2022.

China mulls giving Ant Group second shot at IPO
The authorities are also close to granting the group a license that could pave the way for it to revive its listing plans and be regulated more like a bank.

Salary Hero raises US$2.8M to bring financial wellness to Thailand through EWA
Investors are Global Founders Capital, M Venture Partners, 500 TukTuks, 1982 Ventures, and Titan Capital; Salary Hero integrates and works directly with employers to provide earned wage access and financial wellness products.

Binance to expand operations in the Philippines
Binance is planning on financing traditional Philippine financial firms – such as payment service providers and banks – to help bring those businesses into the blockchain world.

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Lyve Labs, a collaborative platform owned by Seagate Technology to build solutions that harness data flow, announced the winners of its Lyve Cloud Hackathon 2022 competition in Singapore on June 2.

The winners of the competition are Team YYQQ1314 (led by Tang Yun and Xu Qian), Team YSL (led by Liew You Sheng), and Team FastStream (led by Kai Wei Hoon). Each of these teams won cash prizes of S$8,000, S$2,000, and S$1,000.

Other participating teams are Team CSTOR (led by Oliver Wee), Team The Water Cooler (led by Lwin Maung Maung Thaw and Xu Haiyang, and Theekshana Wijewardhana), Team Linh AI (led by Giang Nguyen, Nhan Nguyen and Louis Phung), and Team BEANS (led by Callista Chang).

In this hackathon, the teams were to build solutions using Seagate cloud technology to tackle the challenges of improving data storage for customers and businesses. The participants had to choose one of the following challenge statements:

– Build a middleware solution on top of Lyve Cloud that serves as a media streaming server
– Connect other public cloud big data software stacks with Lyve Cloud
– Build a data migration and movement solution from other Cloud vendors to Lyve Cloud
– Create a solution to connect Lyve Cloud’s audit logs to other public clouds

Also Read: From gigabytes to zettabytes: How to develop a data-driven mindset

The participants were judged by a panel that consists of David Gu (Senior Director IT, Seagate Technology), Noa Franko-Ohana (Director, Lyve Labs), Muhammad Yazid (Director, Lyve Cloud), and James Xi (Technical Engagement Manager, Lyve Cloud).

In her opening speech, Franko-Ohana stresses the value of nurturing the local startup ecosystem in markets where the lab operates.

“Lyve Labs has rolled out several programmes, including Lyve Cloud for Startups along with the Innovator of the Year, to support the scaling of data-driven businesses while reaching out to young developers who have the ideas but lack the means to thrive. We are here to help you thrive,” she says.

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While the means for businesses to digitalise were readily available before the pandemic, it took a lockdown as the catalyst to fast track the adoption.

Those who quickly adapted to digital platforms didn’t miss a beat, as they quickly pedalled their wares and services online through e-commerce platforms.

As the world gradually transitions to a post-pandemic world, industries, specifically the point-of-sale landscape, will forever be changed, as smart tools, online integrations and contactless payment modes have become the new norm.

In Singapore itself, two years of ordering online have changed consumer behaviour, letting their fingers do the walking as they browse through and weigh their options before purchasing from the comfort of their homes.

A seamless way towards a cashless future

Suppose there was any indication that we are on the cusp of a cashless future. In that case, it can be seen in the heartlands, as neighbourhood food hawkers embrace a digital mode of payments such as GrabPay and PayNow and the government-issued Community Development Council (CDC) vouchers that citizens could claim for various food items and services.

Since Qashier’s formation in 2019, we have empowered SMEs with affordable and accessible digital solutions, including e-payments, an online/QR ordering platform, and a smart point-of-sale (POS) system.

That being said, there are still a large number of SMEs and MSMEs that have yet to make this important switch across the region. Two possible key factors behind this are cost and complexity.

Also Read: The 5 pillars of digital transformation that meet business objectives efficiently

Adopting smart POS solutions with the latest technology would usually come with a hefty price tag that only big companies would consider. Qashier’s subscription model makes POS solutions extremely affordable, with prices starting from just SG$1 for a day.

We also made adopting the technology easy, designing software solutions with ease of use. Anyone could get their setup done within minutes and start streamlining their business right out of the box, with no prior training required.

We value form as much as function, so Qashier smart POS terminals currently come in three stylish form factors: the lightweight QashierXS, the sleek QashierX1, and the larger, powerful dual-screen QashierXL.

As a smart POS provider, changing the way businesses interact with customers at the payment touchpoint is of utmost importance. By integrating card, e-wallet, and mobile payments into one device, we mitigate in-store clutter while allowing customers to pay with their most preferred payment mode.

On the merchant side, business owners can also track growth with end-of-day sales reports and find out which of their items are doing better among the others.

As the market is saturated with uniquely different businesses, Qashier serves to tailor-make solutions for every business by working out the right combination of tools. For instance, an inventory management system helps keep track of stock for a retail business. In contrast, an ingredient management system would benefit an F&B establishment more, notifying you when an ingredient is low in stock.

As your business scales, Qashier cloud-based solutions grow and can seamlessly track data across multiple stores.

A POS system that can integrate with food delivery platforms proved essential during the pandemic, but we wanted to provide more for our merchants. QashierEats, our online and QR ordering platform, allows merchants to easily set up a profile on the platform and begin taking online orders, which Qashier takes no commission from.

One such Qashier merchant, Caffe Pralet, found that with QashierEats, their customers were ordering their food online and using the platform for in-store pickups. Orders were sent directly to the POS, and preparation could begin efficiently.

Also Read: Shouldering the responsibility of digital payment security

A couple of popular traditional F&B merchants in Singapore have also successfully digitalised with Qashier’s solutions. Examples include Fei Fei Wanton Mee at Joo Chiat Place, which took on the portable QashierX1 Smart Terminal, as well as the bigger QashierXL Smart POS to streamline their payment methods, and another East Coast merchant Kim Choo Rice Dumplings, which elevated their operations with inventory management and customer relationship management tools from a QashierXL.

It’s one thing to want to create the best product possible, but we also wanted to assure merchants that we had their back, now and in the future. If merchants ever find themselves needing support, we have made sure that we have a local team on standby seven days a week.

We see a couple of technological trends becoming a mainstay in the POS landscape as we look ahead. First of all, it is the ability to have integrated payments. Customers should be allowed to pay the way they prefer, be it with cash, tapping a card, or wireless payments through mobile wallets. Merchants should also be able to accept every one of these modes in a single terminal.

Secondly, QR code menus are likely to be a permanent feature at most F&B establishments. The convenience for customers it presents is welcomed in a contactless world. The technology can be implemented to tackle the problem of a labour crunch, as a business would require less manpower working tableside.

Finally, the buy-now, payer-later (BNPL) trend will see more prominence, helping merchants push their big-ticket items to more customers than ever. The BNPL model provides customers with limited access to credit and cash to make purchases split into instalments both online and in-store, effectively offering credit terms to those who do not have or cannot get a credit card.

No matter the industry, one thing is for sure, small businesses must remain competitive in the digital economy. Technology shouldn’t be a barrier but a tool for them to elevate their businesses to the next level.

Adopting these new technological tools could be difficult at first, but partnering with the right POS partner may be the key difference that can propel the business to a cashless future.

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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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