Thanks to growing internet connectivity, in addition to the increasing ownership of more sophisticated mobile devices that can stream high-quality video content, the OTT industry is on track to reach a sky-high value of US$52 billion over the next five years.

This growth is unsurprising as OTT can provide content to users when and where they want it– regardless of place, time, device or network– and as such content producers are focused on generating as many profits as they can from distributing content directly to consumers.

This is urging traditional content providers to rethink their strategy in this on-demand age; they need to evolve their marketing strategies to catch the consumers’ attention when their eyeballs are now on a wider variety of devices.

Also Read: 5 email outreach tips to aid your startup marketing efforts

At the same time, as OTT viewers also have the benefit of choosing what they want to watch at their own leisure, how these platforms contextualise their offerings to the viewers need to be laser targeted to be in line with their preferences.

However, all this needs to be done by balancing the line of understanding the consumer without making it appear as if they are too intrusive. Here are some ways in which OTT platforms can market their products to viewers with better contextuality to improve their ways of monetisation. 

Customer is king

OTT platforms have upended traditional viewership, placing far more power in the consumers’ hands than ever before. Yet, while viewers now have greater control over how they want to watch content, addressability has become a greater concern.

This is as viewership has become more fragmented, therefore posing a greater challenge for marketing efforts as compared to their prime-time broadcast forebears. They now need to target different ads to different audience segments watching the same content.

To overcome this, OTT marketers need to gain a better understanding of their marketplace to determine the best messages that can resonate with this fragmented base. They need to do so by utilising richer data to create relevance amongst viewers in order to deliver the best possible customer experiences.

Messages should be present on all devices

OTT platforms were born in the digital age, and therefore many have been designed to be viewed on devices that can be connected to the internet. In regions such as Asia, traditional TV viewership remains dominant, however, most OTTs require smart TVs to be played or separate devices connected to more conventional TVs to power them.

However, portable devices such as laptops and smartphones seem more practical for many viewers, especially if they’ve subscribed to OTT services for their own personal use.

Mobile is already replacing TV as the go-to choice for video content and thus, marketers to rethink the channels they use to engage with customers. This is as mobile and desktop marketing require different engagement strategies than viewers; they need to keep in mind which devices are being used, as well as when and where they’re being used. Marketers, therefore, need to adopt a wider-reaching omnichannel strategy to reach as many consumers as they can throughout the day.

Minimising friction

Broadcast TV has traditionally been the medium for ads, and therefore viewers are more than familiar with the concept of needing to sift through a programme’s sponsors to be able to enjoy their content. However, OTT platforms – especially the on-demand kind – are perceived as a more attractive option as they’re typically less ad-heavy, or have no ads at all.

As such, when ads do appear, they need to be done by keeping viewing disruption at a minimum, which is best served by ensuring that the messages being receive relevant or well-targeted.

This is why understanding customers are paramount. By using the right data, marketers can better contextualise their messages according to the consumers’ viewing preferences so that they won’t seem disjointed at best, and at worst, intrusive.

Also Read: 6 strategies to give valuable feedback that sticks

It is the challenge of intrusion that marketers need to be wary of. While using data to laser target consumers can help marketers sift through the audience clutter and target may help to ensure that the outreach is effective, using consumer data that’s not relevant to the content at hand can be off-putting and may even alienate consumers from the OTT platform.

Sophisticated solutions for today’s on-demand viewers

The upside is that we now live in a digital age where we can leverage more sophisticated tools to reach customers effectively.

For instance, SilverPush are artificial intelligence (AI) and machine learning, which – when coupled with computer vision – help ups understand large droves of complex data to get the right messages out at the right time to the right people.

This is done by using our technology to identify the specific context in video content and serve in-video ads which align with the advertisers’ core messages without detracting the user experience.

To illustrate how our technology’s been applied, we’ve worked with iflix and HOOQ to disseminate ads based on specific metrics – namely TV and film genres. What this does is help us make better recommendations to viewers based on what they’ve already watched and positioned them in ways that enhance their viewing experience.

OTT platforms are bringing video content viewership into a new era, and therefore marketers need to understand how they work to reach audiences effectively.

While this task is definitely more complicated than before, marketers also have the choice to adopt technologies which are designed to do the tedious legwork that can support valuable human operations and, in turn, help them add more value when conducting their outreach strategies.

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

Image Credit: Will Francis

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Mark Britt, co-founder and CEO of Malaysia-based online streaming company iflix has officially stepped down from his position after more than five years with the company. Marc Barnett, iflix’s managing director will take over the role, as reported by Marketing Interactive.

“A huge congratulations to him on his new appointment – a recognition of the massive contribution he has made over the past three years,” Britt said about Barnett, who now assumes overall responsibility of the business.

Britt added that he will be joining the board as executive director. He also will spend more time with his family following his decision, as stated in his LinkedIn post.

Iflix’s spokesperson also shared that Britt will lead iflix’s advertising business with a particular focus on Indonesia as executive director. He will also spend time between iflix’s key markets and Australia.

Also Read: Streaming platform iflix announces funding round, partnership with Indonesia’s MNC

Before running iflix, Britt worked at Nine Entertainment’s digital arm Mi9 as CEO. During his time there, he was responsible for its SVOD investments and portfolio of startup ventures.

Meanwhile, Barnett just got promoted to be managing director just in November from his position as COO. He first joined the company in 2016 as Chief of Staff.

Before that, he was director at The Australian Institute of Food Science and Technology, and COO of Bohemia group.

The company also bid farewell to its Malaysia’s Head of Marketing this year. Awin Roslin left for Astro in September.

It also welcomed Kevin Liu as Chief Technology Office for iflix Advertising to spearhead the programmatic strategy.

Also Read: iflix gets funding from Japanese entertainment giant Yoshimoto Kogyo, establishes JV

In July, the Kuala Lumpur-headquartered company announced the closing of a new round of investment led by global asset manager Fidelity International, with participation from existing backers Catcha Group, Hearst, Sky, and EMC.

The final size of the round has not been disclosed, but the company said in a statement that the total size is in ‘excess of US$50 million’.

The money from the new round was reportedly used to drive growth ahead of a prospective IPO.

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Image Credit: iflix

The post iflix bids farewell to CEO Mark Britt after more than five years appeared first on e27.

Why tech startups Meracle and Zeend are turning to this programme to help solve common problems in the fundraising space

Among the most vibrant startup ecosystems in the world is Southeast Asia, a region that has established quite a reputation for churning out many promising startups in its folds. Being home to 26,000 startups, 3,000 investors, 13,000 events, and 8,000 jobs in 2018 alone as listed in e27’s media platform, the region is notable for being one of the best places to realize one’s startup dreams.

This, however, does not entail a perfect experience for those who are mounting their startup business plans in the region. By extension, this does not mean that founders are immune from risks.

In fact, there are three particularly overarching problems faced by startup founders in the region, specifically those who are still in their growth stages. These problems affect a slew of areas when it comes to fundraising such as access, credibility, and efficiency.

Founders often suffer from a lack of access to active and relevant investors due to the limitations of their respective networks. This is most apparent to new and young founders who are not yet fully immersed in the startup ecosystem.

As such, founders are often forced to accept funding opportunities that are not tailor fit for their startup needs.

Moreover, founders who have only been in the business for a short period of time have difficulty establishing their credibility to potential funders. This is because their limited experience often translates as uncertainty from the perspective of investors. This leads to a prolonged fundraising process that ultimately hurts the chances that startups have to truly take off.

More than that, founders deal with efficiency problems as a result of using multiple service providers across fragmented processes, with each one trying to get a share of the fees. The lack of visibility and analytics over investor activity and the entire fundraising process also poses problems that render any active attempt towards startup growth completely inefficient.

Startups from Southeast Asia dealing with these problems head on

Meracle Pte Ltd is a Singapore based company that develops and markets digital health technologies to help address suboptimal medicine delivery in chronic diseases. Their product, The Whizz spacer system, improves asthma control by addressing the issues of incorrect technique and low compliance concurrently.

Better asthma control requires addressing both technique and compliance. The Whizz spacer utilises a multipronged approach to provide a comprehensive solution to patients, caregivers and physicians.

Whizz is a spacer utilises advanced technologies to aid asthma patients inhale their medication correctly. This is done by providing immediate feedback via visual indicators that intuitively correct inhalation techniques. The accompanying mobile app stores data that doctors can access and analyse and to treat patients accordingly and confidently. Data collected eventually would allow analysis and studies of asthma patterns and prediction of probable asthma attacks.

In order to help sustain their momentum and give their brilliant product a much-needed boost, Meracle Pte Ltd connected with the e27 Fundraise Programme. Through the fundraise programme’s features, Meracle is granted access to e27’s network of investors, build rapport with the investor community through sustained engagement, and manage the entire fundraising process in a single online platform—effectively curbing the usual obstacles that hamper startup growth.

Joining them in this pursuit is Zeend.com Inc. Based in the Philippines, Zeend.com is an e-commerce platform that digitally transforms traditional business establishments. Local brick-and-mortar businesses, such as groceries, pharmacies, hardwares, and utility & bills payments, can create instant and free website/online store. After signing-up with Zeend platform, traditional businesses can instantly display their products and accept online transactions.

Merchants that sign-up with the Zeend platform will also be connected to specific suppliers/manufacturers in their category as part of the Supply Chain Model. Zeend merchants will have easy access to suppliers in their area and conveniently order online.

“Merchants in the platform will have two types of customers: the first one refers to those from the local area of the establishments who will shop online, and the second one refers to the remittance side. The sender of remittances can choose to directly buy goods for their family and loved ones instead of sending cash. The goods will simply have to be claimed by the recipient in the local store,” said Zeend.com Inc.’s Co-Founder, Rugy de Veyra.

With Zeend’s important brand of innovation, it is imperative that they gain access to potential investors that can contribute wholly to the startup’s growth, enabling them to help more people. Through this, the company is off to greater heights.

e27 Fundraise Programme and its three-pronged approach

There are several solutions out there coming from different facets of society that all do their part in minimising these regional obstacles. What makes the e27 Fundraise Programme particularly unique, however, is its three-pronged approach to solving common problems.

In order to democratise fundraising for startup founders, the e27 Fundraise Programme has come up with three umbrella solutions that accommodate the three pressing challenges in the region’s tech ecosystem. These three umbrella solutions are: increased visibility, sustained engagement, and digitalisation.

Through the programme, startups are empowered to let investors know that they exist. While most young startups find difficulty in carving a name for themselves, the programme—because of e27’s massive network of investors—effectively puts young startups within their radars making fundraising well within the realms of possibility.

The second prong is focused on establishing sustained engagement between startup founders and investors, thereby helping startups build rapport with the investor community. This is achieved by giving startups the platform to show investors their startup growth and progress over time.

Lastly, in a community whose lifeblood is digital innovation, the e27 Fundraise Programme makes use of digitalisation as a way to help startups manage the processes of their fundraising pursuits from end to end, and within a single online platform that they can keep track of over the course of their negotiations.

With this three-pronged approach, startups who sign up for the programme can guarantee better funding opportunities to come their way.

The e27 Fundraise Programme is in partnership with Wholesale Investor, Australasia’s leading venture capital and capital raising platform for sophisticated and accredited investors. For more information on the programme, you may enquire here.

The post How this fundraising programme helps these two startups access better funding opportunities appeared first on e27.

 

Health, money, and relationships are the top three things that come to mind when we think of new year resolutions. From millennials to Generation X, baby boomers as well as the sandwich generation, the need to manage finances is compelling enough, whether it is for retirement or having sufficient savings for their children’s education and development needs.

Yet, securing one’s own financial future or helping your loved ones be financially ready has been a prevalent concern, especially with the lack of confidence consumers have towards the financial industry and the perceived complexity of financial planning.

In a move to enable people to plan their future with ease and confidence through better financial decisions, fintech startup BetterTradeOff (BTO) is tapping on advanced analytics and statistics to guide our financial choices. Their web-based tool called ‘Up’ leverages real-time data and analytics to provide consumers with a detailed analysis of their financial needs and goals, and elements impacting their financial situation.

Founded by Laurent Bertrand, with Up he aims to reshape the way financial planning is viewed and allow anyone, regardless of financial literacy or income level, to manage their finances and plan their future with trust and confidence in the process. Along with a wealth of international experience in transforming the financial services and technology industries, Bertrand is an MBA from INSEAD and also holds a degree in Aerospace.

Also Read: Swiss fintech incubator F10 enters Singapore, soon to kick off accelerator programme

e27 spoke to him just in time for my new year’s financial goal planning.

What’s your story?

I’ve spent the past four years turning a passion project into a growing business and an innovative company determined to transform the way people make financial decisions. It’s a topic I know well, and am deeply interested in, as the former Head of Data and Analytics at UBS Wealth Management (APAC).

What motivated you to start this?

I co-founded it with BTO Chairman Robert Lonsdorfer with the belief that we could leverage technology, to provide people with a means of making better decisions regarding their financial future. Making it possible for anyone, regardless of their financial literacy or status, to build a plan for achieving their dreams and goals.

It started as a sort of challenge to ourselves to see if it could actually be done and has now culminated in the launch of Up – our direct-to-consumer solution – a tool that allows people to build their own financial plan online in as little as 15 minutes.

What drives you to do this every single day?

Making it possible for people to not only achieve their dreams but inspiring them to dream bigger, by showing them what’s possible when they have the information and tools they need to make better financial decisions.

What were your initial challenges?

As industry insiders, we knew that bringing financial planning online in an easy yet holistic manner would be challenging. What was difficult was not knowing if and when we would crack the code to make it work with such a broad range of topics to be covered. We found many ways that didn’t work, but to paraphrase Thomas Edison– once feasibility was proven, we still needed to demonstrate that the solution provided the kind of experience end-users expect. Three years before considering commercialisation is a long time, but it also provided a strong technological foundation.

Also Read: Strengthening its expansion into fintech, Grab introduces GrabPay Card

How is financial planning evolving in the light of fintech?

Financial planning is nothing new and many financial institutions have tried to digitalise the experience to better understand and serve their clients. Similar to payment and robo-advisory before, fintech services such as BTO have been able to leverage technology to address pain points with existing industry practice.

What is unique with our solution is the ability to bring an inherently complex subject in a simple, interactive and educational manner that can help everyone make better decisions. We designed our solution so it incorporates all the rules, taxes, statistics for different countries easily to allow for global deployment. We believe that solutions such as BTO will empower advisors and clients alike to secure their financial future and achieve their dreams.

How do you manage your team?

As the saying goes, there’s no I in the team. From the very beginning, we discussed what kind of culture we wanted for our company: open, supportive, creative, customer-obsessed and outcome-oriented. We apply such principles not only internally but also with our external partners and our clients. The result (hopefully) is an environment where it is easy to work together while retaining the highest level of professionalism. While the company continues to evolve and grow, we make sure that we continue living these values on a day-by-day basis.

Also Read: Meet the 18 original founders of Alibaba

What was your funding strategy?

When we embarked on this journey, we knew it would be a difficult and long one with possibly (and it proved to be rather prescient) a very long time before going to market and monetisation. We decided to focus our resources internally on what was critical (to retain the IP) and externalise everything that others could do better and faster.

Our funding strategy was aligned accordingly, relying on enlightened angels and onboarding an institutional investor who could understand the value (in short, an initial client). Having deployed our solution multiple times in four countries and demonstrated our ability to scale quickly, we are preparing the next rounds with institutional investors who can help us accelerate and establish our solution as the standard of the market where our clients operate.

What are the key fintech trends in 2020?

There is a clear trend that should continue in 2020 to push for more pure digital players with digital licenses becoming available in banking, asset management, and insurance. Without the burden of legacy systems, fintech should enable further customer-friendly solutions. That said, we believe that beyond convenience and cost, providing a differentiated customer experience with seamless online-offline experience will become even more important.

The increased visibility of digital financial planning as a means to deliver consistent, customer-centric advice will grow even more in 2020. While fintech will continue to lower the cost to serve, allowing for greater inclusion and untapped revenue, we have seen strong interest from many players (traditional and purely digital) to differentiate themselves and avoid a race to the bottom.

What advice would you give aspiring founders?

Build the strongest team starting with the co-founders and make sure that you have industry insiders, especially with FinTech were regulatory considerations are critical to operating. Even with a well-identified problem to solve and a clear market, finding the right business model can take time and it will boil down to the ability of your team to deliver.

When working with large institutions, ensure that you jointly define and agree on the specific use cases you want to co-create/work on. It is time well spent to build relationships, focus effort and ultimately ensure a successful outcome.

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Image credit: BetterTradeOff

The post Meet the Founder: Being an industry insider is a plus in fintech, says Laurent Bertrand appeared first on e27.

Aument is developing a solution for the increasing pressures on primary care healthcare resources across Europe which are negatively impacting patient outcomes.

With the use of advanced analytics and intelligence amplification, we provide a venue for primary care physicians to transpose their knowledge onto a cloud-based platform thereby equipping them with cutting-edge AI and machine learning based multitasking capabilities.

Using our innovative approach accompanied by our proprietary algorithms we believe Aument can increase patient diagnostic and assessment efficiency by up to 30 per cent.

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This article was first published on nfinitiv.

Image Credit: Sunyu Kim on Unsplash

The post Podcast: A conversation with Dhruv Mahta, Co-Founder of Aument appeared first on e27.

Not many businesses prioritise cybersecurity, even as cyber attacks cost companies around US$200,000 (each) on average. One study by Accenture found that only 14 per cent of small businesses are ready to address cyber threats.

Despite the low rate of cybersecurity preparedness among businesses at present, it’s worth noting that things have changed significantly compared to the situation in the past decade.

In today’s highly connected environment, it’s virtually impossible to separate cybersecurity from business strategy. Securing computers, networks, and cyber resources is already an inevitable part of crafting a sensible strategy for doing business.

The World Economic Forum considers cybersecurity as the top concern for CEOs around the world as data breaches don’t only lead to reputation damage. They have a direct effect on the finances of a business.

The 14 per cent that prepares for cyber threats have a good grasp of what needs to be done. They adopt not only basic protection but also implement more advanced and targeted solutions in order to anticipate more aggressive attacks.

Automated security systems enable startups and small businesses to continue focusing on their businesses without needing to implement complicated methods and learn all of the technicalities of cybersecurity. Knowing and doing the following essential strategies is already a significant stride in fending off cyber threats.

Also Read: Meet the 10 cybersecurity startups graduating from ICE71 Accelerate programme

Intelligent solutions

At the workplace, having antivirus or malware defence tools installed is not as simple as it sounds. First, you need to make sure that you are getting the best option available, something that perfectly suits your needs. Generally, it’s not enough to rely on freeware security tools, let alone free software from dubious sources.

Free solutions may be great for baseline protection, but they don’t do anything beyond it. They can effectively detect, quarantine, and remove malware, but that’s all they are designed to do.

Cyber threats are not limited to malware transmitted through downloads, file transfers, or email attachments. They can also take other forms such as SQL injection, cross-site scripting, DoS and DDoS, eavesdropping, man-in-the-middle attacks, phishing, and social engineering.

There’s a reason why third-party security software and services still sell in the presence of free tools. For one, they offer functions and features that address threats other than traditional malware. They also offer services that address specific critical needs of businesses.

For startups, for example, targeted solutions such as automated penetration testing can significantly increase security especially for those that process a lot of data. Other security solutions that can be included in your arsenal are ransomware detection and prevention, password management, weblink scanning and tagging (for safer web browsing), and a more advanced firewall.

Also Read: Goldman Sachs invests US$147M in cybersecurity startup Acronis, gearing up for acquisitions

Educating users about cybersecurity

People are arguably the weakest link in the cybersecurity chain. Antiviruses or malware scanners can work ceaselessly to monitor attacks and prevent them in real-time. They do everything wirelessly and automatically. They may have instances of false negatives or failures in detection, but overall they get the job done efficiently.

People, on the other hand, are prone to deception, especially those who are new to the concept of cybersecurity. It’s not extremely difficult to make phishing schemes work. Some may even be convinced to temporarily shut down their malware defences to allow the installation of a supposedly harmless application.

The solution to this problem is to educate everyone in the business organisation about cyber threats and prevention strategies. It’s important to teach managers and employees about various forms of cyberattacks, especially those that involve social engineering. It is advisable to develop the ability to perceive possible phishing attacks, for example.

There should be clear cybersecurity guidelines, protocols, and procedures in the office or workplace, and these should be clearly conveyed to everyone. It may also be necessary to compel everyone to use stronger and different passwords for different accounts and devices.

Also Read: Imbalance between work and personal life is a cybersecurity issue

Data encryption

Stolen data may only be considered harmful if it becomes useful to the party stealing it.

Encryption as a cybersecurity strategy is done not only on files stored in the hard drive. It’s something that also needs to be implemented on data exchanged between a client device and a server, saved passwords, and inputs to online forms, as well as files stored on the cloud.

There are many tools that can be used for encryption. On Windows, there’s the popular BitLocker. On Mac, there’s a built-in solution that involves the conversion of files or folders into a disk image, or you can use FileVault. To encrypt data exchanged between a client device/app and server, the solution is to use https or SSL encryption.

Meanwhile, to help employees avoid data sniffing or other similar attacks, it is recommended that they use VPNs. When it comes to data stored in the cloud, most cloud service providers have integrated encryption tools. If you use a cloud service that does not provide this function, it’s better to switch to a different provider.

Encryption takes time and computing resources. Hence, it’s impractical to do it for all files. It makes sense to choose specific types of files such as business plans, project files, financial records, and confidential documents. This is something for the management to decide upon.

Also Read: Cybersecurity in the age of information warfare and IoT

Multi-factor authentication

Another simple but highly effective cybersecurity strategy for startups and even for established businesses is the use of multi-factor authentication or at least two-factor authentication. For the uninitiated, this means the addition of another requirement besides the username and password when logging in to an account.

It could be a code sent to a mobile number or email address, a biometric scan, or a physical device inserted into the USB or some other port in a device.

Multi-factor authentication ensures that even if cybercriminals successfully steal sets of usernames and passwords, they will still be denied access when they use the stolen login credentials. Just make sure that you don’t end up locking yourself out of your accounts because you lost the phone number (SIM card) or email address you use in setting up your 2FA or multi-factor authentication.

Update all software

Lastly, it’s a must to keep all of your applications and operating systems updated. Updates exist not only to add new features to software or OS. Often, they carry security patches to address vulnerabilities that may be exploited by emerging threats.

They are also released to address stability issues. Updates may raise bandwidth consumption, but it’s a small price to pay in exchange for a more secure and stable device or software.

Also Read: Cybersecurity in the age of information warfare and IoT

Takeaway

The threats startups face are not different from what larger and more established companies. After all, cyberattacks generally don’t discriminate. They focus on vulnerable entities—those that don’t have adequate protection installed and people who happen to be clueless about the different forms of attacks and strategies to counter them.

Except for cybercriminals specifically paid to attack specific entities, hackers and cyber attackers target companies not because they expect to get something highly valuable, but mainly because their initial random attacks were able to penetrate.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas by submitting a post.

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Image: Pixabay

The post 5 cybersecurity strategies every startup must know appeared first on e27.

As a business owner, we often look to other business owners for inspiration.

Every year, Forbes comes out with the list of top 10 most powerful people in the world. While not all of them are in business, there are some aspects that startup founders can learn from them –and be inspired

Xi Jinping

Xi Jinping is the leader of China, the most populated country in the world and the second-largest economy.  He is the leader of the Communist Party that rules the country and has seen his powers extended in recent times, including scrapping the limit of his term.

For me, stepping away from politics, Xi Jinping is an excellent example of leadership that can apply to business.  Unlike many Chinese officials, he has an active public profile, allowing the state media to publish a day-in-the-life piece of his workday.

He has also stepped beyond traditional Chinese views, including grasping the benefits of privatisation and bringing in reform to encourage this.

Also Read: On embracing digital transformation: key takeaways from today’s startup founders and experts

Vladimir Putin

Vladimir Putin has been voted the most powerful person in the world four times between 2013-16. Since then, his influence has not waned.  Putin served as Prime Minister in the government of Boris Yeltsin before becoming President in 2000.  Before politics, he worked as a KGB agent, notably in East Germany in the mid-1980s.

From a business viewpoint, Vladimir Putin is an excellent example of a leader and someone who makes the most of all resources at his disposal.

Personally, Putin is a ‘lead from the front’ style of leader who presents a macho image of himself hunting, fishing and practising martial arts to the world.

Donald Trump

Love him or hate him; there is no denying the power and influence of Donald Trump. Currently, the President of America and the first billionaire to hold the role.  Initially working for his father, who was developing low-cost housing in parts of New York. He now has much of his fortune in property in the Manhattan area.

From a business standpoint, Donald Trump is worth following for several reasons.  His wealth of over US$4billion does not come from having only one interest.

Trump has diversified his income, wineries, golf courses, and hotels to his name.  Not only that, but he has gone through rough patches in his career and bounced back. How he has handled uncertainty is an excellent example for business owners experiencing difficult times.

Also Read: Indonesia names 2 startup founders as presidential special staffs, following gojek CEO’s appointment as minister

Angela Merkel

Angela Merkel became the first woman to be elected as Chancellor of Germany in 2005. She is currently in her fourth term, although she has stepped down as leader of her party and does not intend to serve another.  She has been voted top on the Power Women 2018 list.

Angela Merkel is a lesson in how to manage the many roles of a business owner.  She leads a coalition government that has become unpopular with voters but continues to get things done.  She has a strong personality and will stand up to anyone (including Donald Trump!) and has seen the German economy through the financial crisis and into growth.

Jeff Bezos

Jeff Bezos started Amazon in a Seattle garage back in 1994 and is now the CEO of the mega-company. With a net worth of over US$111 billion, he routinely tops the lists of the wealthiest people in the world.  He is also the owner of The Washington Post newspaper and an aerospace company, Blue Origin.

Business always has an element of chance to it, and there is no doubt that for people in business, the idea of being Jeff Bezos is the dream. Bezos started something fundamentally different from what anyone else was doing, with no clue if it would work.

In his words: “I didn’t think I’d regret trying and failing. And I suspected I would always be haunted by a decision to not try at all.”

Also Read: Why startup founders should care about behavioural science

Pope Francis

Pope Francis is the leader of the Catholic Church and there is a great deal in terms of leadership to be learned from him.  Pope Francis is the first pope to come from South America and is the spiritual leader for 1.3 billion people around the world. Quite an achievement!

He is an expert in balancing the traditions of the Catholic Church with the need to reform and evolve in other areas.  He has continued with many traditional aspects while pushing for new relevant changes, such as climate change reform and the better treatment of refugees around the world.

He is a perfect example of someone who understands the need for change but also for keeping some core elements the same.

Bill Gates

Bill Gates is best known as the co-founder of Microsoft, although he only owns around one per cent of the company.  His focus now is the Bill & Melinda Gates Foundation, the largest private charitable foundation in the world.

His work with Microsoft is an inspiration for anyone wanting to build a business.  He is also an inspiration for what can be done with wealth to help others and to give back to society, including his work to improve global health and to save lives.

Also Read: Commentary: Shame is still prevalent among failed Singaporean startup founders

Mohammad bin Salman Al Saud

Mohammad bin Salman Al Saud is the crown prince of Saudi Arabia. While his father remains king, few doubt that he has the most power in the country.  He is also the future of politics in the area and is known for his strong stance against corruption.

I admire the work he has done to change his country with his anti-corruption campaign.  This saw many prominent Saudis arrested and ten billionaires vanished from the Forbes list of world billionaires due to the nature of how they gained their fortunes. In business, making money the right way is always top of the list.

Narendra Modi

Prime Minister of India, Narendra Modi is the leader of the second-most populous country in the world with over 1.3 billion people. He is also the second most followed leader on Twitter, with over 43 million followers, showing how to use modern technology to reach people.

For me, he is another strong leader who has worked to eliminate corruption in his country, including taking the unexpected step to remove two of the largest banknotes in circulation.  He has also become one of the world leaders working most on climate change, aware of the impact on his people, especially in rural areas.

Also Read: Why mentorship is critical for startup founders to succeed

Larry Page

Larry Page is the CEO of Alphabet, best known as the parent company of Google. He co-founded Google in 1998 with Sergey Brin, and the pair created PageRank, the algorithm behind the top search engine.

With a net worth of over US$53 billion, Page is an inspiration for business owners.  The way that Alphabet and Google continue to diversify their business is most inspiring, including the development of smart home appliances, a healthcare division and more.

Inspiring individuals

Whether you agree with these people in areas such as politics or faith is not so relevant for me versus the inspiration they offer as a business owner.  From leadership qualities, adapting to change and rooting out corruption, they can all help us be better business owners.

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Artificial Intelligence (AI) is the buzzword on everyone’s lips and the technology is expected to almost double the rate of innovation and employee productivity by 2021, according to a Microsoft and IDC study.

AI has widespread business benefits, not only in automating time-consuming and resource-heavy tasks but also in using predictive wisdom to inform smart decisions and increase efficiency. It is particularly beneficial to digital advertising, where it is becoming an essential differentiator.

AI can be used in a variety of ways to enhance an ad campaign, from detecting fraud and powering the programmatic bidding process to delivering precisely targeted, highly personalised data-driven messaging that resonates with brand audiences.

Using AI to personalise and localise ad messaging is particularly beneficial in a region characterised by diversity, allowing brands and advertisers to dynamically tailor their strategy to individual markets rather than adopting a one-size-fits-all approach. The use of AI in digital advertising is essentially joining multiple data points and interpreting the resulting patterns to identify and act on opportunities.

With AI for digital advertising still in its infancy in Asia, now is the ideal time for the industry to establish best practices and ensure its approach to implementing AI-powered ad campaigns allows it to make the best use of the technology as adoption inevitably accelerates.

Also Read: How to optimise adtech for the next decade

Implementing robust algorithmic architecture

The first step in implementing AI in advertising is to ensure robust algorithmic architecture. Traditional algorithms use step-by-step processes to achieve a particular result or solve a specific problem.

In theory, algorithms should be able to make better decisions than humans because they can factor in more variables and analyse them all in milliseconds to reach the right conclusion.

AI algorithms take this ability one step further because they have the capacity to learn from previous outcomes and therefore make smarter decisions, continually improving their performance through machine learning. Powerful AI can learn in real-time, refining processes, improving organically, training, learning and then adapting with minimal human intervention, enabling intelligent and accurate forecasting as well as data-enriched decisions.

For instance, a programmatic advertising AI– such as Adform’s Odin– can oversee the trading process, analysing when to bid as well as how much to bid, and learning from failed bids to continuously improve towards the perfect strategy.

Naturally, this ability to make increasingly intelligent decisions depends on the underlying structure or architecture of the algorithm. With AI, programmers do not need to code for every possible action and reaction as the system will identify all potential patterns for itself, but they do need to create sophisticated machine-learning algorithms that are fit for purpose, as well as impartial and free from unintended bias, which requires a high level of experience and expertise.

Also Read: AI-powered adtech platform ADBRO closes financing round with 500 Startups, eyeing APAC expansion

AI algorithms must be continually monitored, and their output verified, to ensure their function and subsequent learning does not become distorted.

Ensuring the quality and diversity of data  

In addition to establishing robust algorithmic architecture, the advertising industry also needs to ensure data quality and diversity as the output from AI is only ever as good as the information that trains and feeds its algorithms.

AI algorithms become increasingly effective as they are exposed to more data, so the advertising industry needs access to large volumes of information that are typically held in siloes.

It needs the technological capacity and infrastructure to handle these vast volumes of data, ensuring information can be accessed, unified, aggregated and analysed quickly and accurately enough to provide actionable insight.

But volume alone is not enough; the information must be sourced from across the entire digital advertising and marketing ecosystem and should incorporate multiple data streams to make it as diverse and representative as possible, enabling powerful, broad-based decision making.

And of course, the data used to feed AI algorithms in advertising needs to be of the highest quality. In a world where misinformation, inaccurate reporting, fraud and obscured signals are all too common, it is essential data is accurate, ethically collected, sourced from reliable providers and free from the bias of all kinds.

Also Read: An industry insider’s analysis of Indonesia’s adtech industry in 2019

Data must be current and refreshed regularly to ensure recommendations are based on the latest intelligence, not information that is hours or days old, allowing effective, real-time optimisation.

The use of AI for digital advertising in the APAC region is still relatively nascent, but it is about to escalate. AI is key to advertising’s data-driven future, but to make the most of its many benefits, marketers need to implement best practices now, leveraging knowledge, expertise and technological infrastructure to ensure the algorithmic architecture is robust and the data that feeds it is plentiful, diverse and of exceptionally high quality

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Switzerland-based World Tourism Forum Lucerne (WTFL) has announced the four winners of its Indian Start-Up Innovation Camp 2019, which was held in Bangalore on Wednesday.

The camp focused on talent, innovation, diversity and sustainable development within and beyond travel, tourism and hospitality industry

The winners were announced in the categories of ‘community’, ‘conservation’, ‘culture’ and ‘commerce’, in the field of travel, tourism and hospitality from the Indian subcontinent.

The four startups also received US$10,000 each along with a personalised two-year mentoring by industry experts.

Martin Barth, President and CEO, WTFL said: “Out of all the game-changing ideas by 200 startups that applied for Indian Start-Up Innovation Camp 2019, we are happy to announce the names of four most unique startups that stood out with flying colours.”

Also Read: ScaleUp Malaysia kickstarts the three-month programme with 20 Companies in its first cohort

“India has a niche product portfolio in the travel, tourism and hospitality sector and is expected to grow at a rate of 100 per cent by 2028. We are sure to make a mark and create awareness around the on-going environmental issues and look forward to holding more such engaging events in India in the coming years,” he added.

Below is the description of each winner:

F5 Escapes (Community): A Bangalore-based experiential travel company, with a focus on redefining the way women travel in India. F5 intends to put India on the global travel map as a preferred destination for women from across the globe. F5 Escapes offers fixed departure all-women group tours, customised itineraries for families, groups and solo travellers. It also does in-city engagements which include #JustGo travel meetups, workshops to educate women on travel safety, sustainable menstruation, and motorbiking.

Quick Ride (Conservation): It is a real-time ride sharing application for the convenience of consumers. It helps to connect daily commuters at one common platform and makes it economical, eco-friendly, social, safe and convenient to use for all.

NotOnMap (Culture): It is a platform that connects travellers to culturally rich remote villages after restoring houses, training, community members thereby creating an alternative livelihood for villagers and minimising unskilled migration.

Me Tripping (Commerce): MeTripping is an Intelligent travel search platform that helps in making the best travel decisions by making sense of the world’s data. MeTripping claims to solve this problem by launching a revolutionary travel search engine that can help users go “from desire to decision” in minutes. Users can figure out everything – destination, flight, hotel, and activities – within budget and on their travel dates.

WTFL is a platform for tourism, travel and hospitality companies meet to shape a more sustainable future for tourism. It provides decision-makers with insights into the core themes of the tourism industry and a global network. The platform also integrates startups, young executives and students into one programme.

Over the past ten years, it has evolved into a year-round network of leaders and innovators who are driving positive change in the travel, tourism and hospitality industries. This includes an influential network of leaders from the business, education, politics, finance and community sectors.

The camp was organised in association with IHCL and Tata Trusts.

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Look up, out of the weeds, and open yourself up to external help. You never know what simple advice can alter the way you run your company.

I am proud to say that Reach52 (formerly Allied World Healthcare) has now helped 50 communities access healthcare in the Philippines and Cambodia.

But while our goal to deliver low-cost digital healthcare to underserved communities was always clear, our pathway to this point wasn’t always as straightforward. Four years on, reach52 today is barely recognisable from the platform we first launched.

Our story started in 2015. I had worked with the UK Government’s National Healthcare Service (NHS) on various programmes to support the design and delivery of low-cost primary care digital services, so I understood the power of digital technology to deliver healthcare support to those underserved by the traditional healthcare system.

I believed that the same principles could support communities across Southeast Asia that lack access to care, so I left for Singapore with the idea to deliver essential primary care support in rural communities through digital apps, and new financing through private sector engagement.

Also Read: Why China should be the next market for your startup or scaleup

I gave myself six months to get the venture off the ground and invested the majority of my savings. The aim was to fill the gaps in existing government health support by providing access to a marketplace of affordable products and services (working with health businesses that wanted to create a new kind of impact, in heavily out-of-pocket paid markets).

At the end of six months, we had launched in the Philippines and had started to deliver this vision to address the need for affordable, accessible healthcare.

Version 1.0: A project out of control

Three years later, the simple idea that inspired the creation of reach52 evolved into a thriving social enterprise partnering with some of the largest pharmaceutical companies in the world. But while the team had grown to fifteen people, we were still bootstrapping and growing with no proper investment capital.

As the company founder, I was very much involved in all the day-to-day activities because we did not yet have the systems or team in place for me to be able to step back and release control of the detailed operations and look at the bigger picture. It felt like a project that – albeit a successful one – was out of control and with an uncharted future. It needed better governance, and I knew this need could impact our ability to scale if not fixed.

I recognised reach52 had a lot of responsibility to those we had been helping and that, should we cease to exist, they wouldn’t have the tools to plug the gap we would leave. This sense of responsibility drove me to do everything I could to ensure the sustainability of our business.

Also Read: How can multinational startups administer employee benefits on a global scale?

We had an almost existential need for better, lightweight processes and structure, regulatory compliance, accounting, and onboarding programmes. It was clear for the future success of the business that I needed to look for external support and guidance. This was key if we were going to reach new markets and fully realise our ambition. It was clear we needed help to ‘level-up’.

External support

Recognising the need to focus my energy on learning how to scale reach52 sustainably, I began reaching out to other startups and looking into mentorship programmes in the region that could improve our internal operations, as well as give opportunities for new partnerships and scale-up channels.

In early 2019, we joined Facebook and IMDA’s accelerator programme. The six-month accelerator programme based in Singapore, offered direct feedback to startups and access to methods and structures to help companies like us level-up.

The programme included business and product training, mentorship, and opportunities to meet potential partners and customers. Alongside ten other startups, we went through three intensive weeks of training aimed at helping us build the necessary foundation for a sustainable business, including building human resources processes, creating effective branding, capturing consent and enacting compliance standards.

Out of the weeds

While being part of the accelerator programme on a whole was valuable, I could not have foreseen that one three-hour course, in particular, would fundamentally alter how I run the company.

Also Read: Social entrepreneurship is key to sustainable and inclusive growth in Asia

The course was about product management road-mapping and showed me a really simple and effective way to sort through the seemingly thousands of tasks and responsibilities and prioritise steps to reach the core objectives for our product. I learned methods to map out clear steps for setting targets, templates for reviewing our business, and steps to iterate our product. And importantly, the course showed me the importance of linking business value to results.

I could see clearly how to get out of the weeds to reach my target goals. It had all clicked into place for me. Armed with a few simple techniques learned in the span of just a few hours, I had refreshed calmness and confidence in how to execute my ambitions.

The lesson

While the business model of reach52 is unique, I am sure that I’m not the only business founder who has found themselves so bogged down in day-to-day tasks that they are unable to clearly visualise their business’ future; sucked into low-value tasks instead of strategic priorities.

I imagine there are hundreds of people across the region who are in a similar position – as it’s a phase many businesses go through, and while some work through it, others are unable to ever progress.

My recommendation to startup founders who find themselves overwhelmed is to be realistic about what your company needs to grow and don’t sit idle waiting for clarity. Seek out external guidance or learning opportunities and apply for programmes that will help you achieve your ‘aha’ moment. Couple this with working insane hours, being visionary but ruthless when needed, relentless enthusiasm, and a good sense of humour — startups aren’t so hard.

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