Asia’s software industry has continued growing over the past decade, even during the pandemic. The region’s software industry is estimated to be worth over US$121.40 billion in revenue this year, with an annual growth rate of 7.92 per cent by 2028. New projects are in constant need of developers, especially entry-level talents who want to gain experience and start their journey toward becoming foundations for the tech boom in Asia.

These opportunities for a career in software development are not exclusive to those who finished degrees in computer programming or other related courses. While roughly 75 per cent of developers have relevant degrees for their jobs, companies such as Netflix, Spotify, and Shopify are already open to the idea of hiring self-taught developers and programmers. These individuals have learned their craft on their own, mostly through free learning resources found on the internet.

Free developer education

Free educational resources are nothing new. There are plenty of non-paid tutorials, courses, and online groups that can help self-learners get started on establishing their development or programming skills.

For structured learning, the top options include Coursera, edX, Udacity Nanodegrees, and Codecademy. Coursera and edX have plenty of free and paid courses created by top universities and companies, focusing on comprehensive, practical learning. Udacity Nanodegrees provide hands-on, project-based learning in tech-focused areas. Codecademy, on the other hand, is designed for beginners, offering a host of interactive and gamified learning resources to help learners establish strong foundations in programming.

Software development beginners who prefer tutorial-based learning can use FreeCodeCamp, The Odin Project, and several YouTube channels like Traversy Media, LearnCode.academy, and Academind. FreeCodeCamp is a nonprofit resource notable for its vast collection of free coding tutorials, including interactive exercises and projects.

The Odin Project is an open-source software development learning kit that features full-stack curricula designed with a project-based learning approach. For YouTube, programming and development-focused channels offer collections of high-quality video tutorials covering various coding languages and frameworks.

Also Read: How is open-source collaboration empowering Asia’s fastest-growing markets?

For more advanced learning, the leading choices are GitHub, HackerRank, and LeetCode. GitHub, the famous code-sharing platform, provides an expansive collection of open-source projects for fledgling developers to learn from, contribute to, or use for their projects. Meanwhile, HackerRank and LeetCode feature coding challenges and other resources that help train problem-solving skills.

Specialised and updated knowledge

One crucial factor that drives self-learning efforts for beginner developers is schools catching up on the latest development technologies. Most developers learn new technologies and expand their knowledge on their own. As data from StackOverflow and HackerRank show, at least 60 per cent of the developers are self-taught.

The rise of Web3 is fueling self-trained developers to keep up with the latest tech, including blockchain technology, decentralised apps (dApps), and innovative user interfaces and experiences. Since the 2020 bull run on digital assets, there has been a 60 per cent increase of GitHub developers building on Web3. According to Forbes, developers should consider upskilling themselves into this new sector.

Resources like EZSandbox by Koii, a community-driven decentralised computing and storage network, fill this need for free, organised learning solutions on modern development topics. Specifically intended to ease Web3 development, EZSandbox provides a systematised way to get hands-on learning experiences to develop and launch microservices with any token on the Koii network.

It features progressive lessons that start with basic tasks like distributed node creation, UPnP, and web crawling, which are useful for AI development. The lessons progress to more complex topics like software audits. Users can go through the lessons and get hands-on experiences by using their existing desktop node to experiment with tasks easily.

The platform’s developer, Koii, provides tools and resources that help developers create decentralised applications. They are also known for allowing personal devices to be used as compute nodes in executing microservices within the network, which is important in providing practical experiences for learners.

Also Read: AI is not slowing demand for software developers in the Philippines

By allowing developers to initially stage their test deployments on a network of global nodes before expanding to a larger network, Koii’s EZSandbox can accelerate the deployment time for testing new software modularly, potentially reducing costs associated with launching software to new users. This approach is beneficial for independent or small team developers who may lack the budget or resources typically needed to launch on traditional Web2 infrastructure.

The rapid growth of Web3 is not only happening in Asia. It is taking place everywhere else in the world. Gaining proficiency in Web3 development is increasingly becoming important as organisations steadily adopt it as part of their tech strategy. The good news is that there is no need to enrol in a paid course to learn it. There are many free resources to hone one’s expertise in Web3 development.

Becoming more competitive developers

There is a need for more developers in Asia, just like in other parts of the world. Even with this, it is not easy for an entry-level developer to get hired for software development work due to lack of experience and high competition.

Companies prefer experienced developers who have been building their proficiency and problem-solving skills for years. Also, companies are wary of “imposters” sending in applications and claiming to have the right skills when, in reality, they are overselling themselves.

The availability of various free online software development learning resources, especially for advanced and in-demand topics, is something many need to pay more attention to. With the rapid growth of Web3, it makes sense to consider DIY learning to keep up with new technologies using tools like EZSanbox by Koii and become more appealing to employers.

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

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

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Nika.eco, a company that uses artificial intelligence (AI) to create advanced climate models for determining carbon credit issuance, has announced closing an oversubscribed seed funding round.

Silverstrand Capital led this round. Timbul Ventures, DMV Investments, Orvel Ventures, and Ascend Network also participated.

The terms of the funding remain undisclosed.

Also Read: A deep-dive into Wavemaker Impact’s decarbonisation strategies in SEA

Founded by Johann Wah (President) and Lawrence Xiao (CEO), Nika.eco tracks forest carbon, conducts deep dives into geospatial data and analyses additionality, baseline, leakage and permanence data. Carbon project investors and developers can use this data to develop nature-based projects and reach their net zero goals.

“Most machine learning solutions in the market use locally based compute, which limits the model’s ability to scale, or they run very inefficiently on the cloud due to nonoptimal cloud architectures,” co-founder Wah told e27.

“Our proprietary geospatial machine learning infrastructure automatically configures optimal resources to ensure your model is scalable and built efficiently. This significantly increases the time it takes to complete and improves cost structures,” he explained.

Beyond carbon, Nika eco also plans to use the capital to launch its geospatial infrastructure technology as a standalone SaaS product, which can lower costs and technological barriers to developing other types of climate models.

Nika.eco claims its audit-grade models are used by leading financial institutions, including Carbon Growth Partners and major European Banks. The model’s results can also be configured for the audit process to monetise forestry assets through carbon credits.

“Traditional carbon models usually take anywhere from six to eight months to train and build by industry standard. Our infrastructure has been able to support customers to reduce the time to within a month,” Wah added.

Also Read: AgriG8 gets Better Bite Ventures’s backing to decarbonise rice production in SEA

“Our vision is to redesign the geospatial and climate modelling space by making powerful geospatial machine learning infrastructure easy to use and accessible to all, starting in the carbon markets,” Wah noted.

As part of this funding round, Silverstrand Capital Impact Investment Manager Julianto Johanes has joined Nika.eco’s Board, while its Head of Impact Investments Patti Chu has joined as Strategic Advisor.

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Image Credit: Nika.eco.

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Tokyo has emerged as a pioneering hub for decentralised autonomous organisations (DAOs),  spearheading a transformative shift towards community-driven governance models in Japan. 

This evolution has been propelled by recent regulatory advancements bolstered by initiatives from the Kishida administration’s Web3 Project Team, established in 2022. 

These efforts aim to integrate DAOs into Japan’s overarching societal vision known as “Society 5.0,” originally conceived during the Abe administration. Society 5.0 envisions a future where AI and IoT technologies empower communities, enhancing the quality of life while delegating administrative functions to regional authorities.

DAO Tokyo: A global showcase of innovation

Tokyo is solidifying its leadership in DAOs with flagship events like DAO TOKYO, which has grown from a single-day conference to a comprehensive two-day gathering. This event showcases Tokyo’s dedication to nurturing DAO ecosystems, providing a platform for global thought leaders, tech innovators, and enthusiasts to converge.

Participants dive into cutting-edge developments, tackle challenges, and seize opportunities in DAOs through engaging workshops that simplify complex concepts. Recent editions have featured prominent global protocols such as Safe, Tally, and Consensys, underscoring Tokyo’s pivotal role in shaping the international DAO landscape and the latest edition will see prominent speakers from Aragon, Gitcoin, Nethermind and more. 

Fracton Ventures exemplifies Tokyo’s proactive approach by integrating DAO principles into corporate governance. Known for its commitment to community engagement, collaborative development, and strategic planning, The Japanese incubator sets the benchmark for blending DAO values with corporate practices.

Also Read: Taiwanese startups join forces with Southeast Asia to venture into Tokyo, Japan

By hosting these events annually, Tokyo continues to drive innovation and collaboration within the DAO community, reinforcing its position as a global leader in decentralised governance.

A real-world case study: The Yamakoshi DAO

One of Tokyo’s impressive innovations in the DAO space is the Yamakoshi DAO in Niigata Prefecture. This DAO connects digital and physical residents, allowing digital participants to engage in village life and community decisions through NFT ownership. 

Buying these NFTs isn’t just about getting digital assets; it’s about preserving a unique cultural heritage. Physical residents benefit from increased community engagement and fresh perspectives, revitalising their surroundings.

The Neo-Yamakoshi Village’s Nishikigoi NFT series is a key part of this DAO. Based on the village’s heritage as the birthplace of Japan’s prized Nishikigoi carp, this digital collection has gained global recognition since its start in 2021, earning over US$400,000 in sales. 

These NFTs are both cultural artefacts and governance tokens, giving holders voting rights and influence in local decisions. This dual role helps build community cohesion and addresses the challenges of integrating digital and physical worlds.

Despite initial challenges like adapting DAO technology for older residents and dealing with cultural sensitivities, the Neo-Yamakoshi Village experience shows the potential of DAOs to boost rural economies. By providing crucial funds for local projects, Yamakoshi has become a model for similar initiatives across rural Japan, using cultural assets for sustainable economic development.

Tokyo’s visionary path forward

Tokyo’s strategic emphasis on DAOs contrasts starkly with stricter regulatory climates observed in Western jurisdictions. 

The city’s focus on fostering innovation, community empowerment, and economic resilience through decentralised technologies exemplifies its commitment to DAO ecosystems’ advancement. 

As Tokyo continues to lead in DAO development and implementation, it remains poised to shape the future of governance not only within Japan but globally. By cultivating vibrant DAO ecosystems and embracing technological advancements, Tokyo reaffirms its dedication to empowering communities, fostering innovation, and promoting sustainable economic growth through decentralised governance models.

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DAO Tokyo 2024 is taking place on August 21-22 at Kanda Myojin Shrine, Tokyo. For further details and registration, please click here.

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

Join our e27 Telegram group, FB community, or like the e27 Facebook page,

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Vietnamese clean energy company Nami Distributed Energy has secured a US$10 million investment from Singapore-based Clime Capital.

This funding, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), will be used to deliver rooftop solar and other on-site energy solutions to commercial and industrial customers across Vietnam.

Also Read: Clime Capital, Touchstone Partners inject US$2M into Vietnamese cleantech startup Stride

Luu Hoang Ha, Chairman of Nami Distributed Energy, said: “This investment, along with our extensive and rapidly growing project pipeline, positions us perfectly for the next funding round and expansion.”

Nami Distributed Energy, a subsidiary of Nami Energy, was founded in 2019 to bolster Vietnam’s energy transition. The company provides rooftop solar solutions and other on-site energy solutions, such as battery storage and energy efficiency measures, to commercial and industrial clients. It enables businesses to access lower-cost and sustainable power without upfront or ongoing expenses.

The startup has forged energy partnerships with prominent international and local corporations nationwide, such as SNZ (Sonadezi Corporation), Vicotex (Viet Thang Corporation), Capella Land, Regina Miracle International, Emivest, and Thipha Cable.

Mason Wallick, CEO at Clime Capital, said, “This significant funding provides a double benefit: it will grow competitive renewable energy facilities while also boosting Vietnam’s progress toward its 2050 decarbonisation target.”

The investment comes as Vietnam experiences a breakthrough in energy policy by introducing a new Decree, which creates significant opportunities for distributed (direct line) and grid-connected, cost-effective renewable energy.

Also Read: Driving innovation for a sustainable future: Top climate tech investments of H1 2024

Clime Capital, registered with the Monetary Authority of Singapore, manages SEACEF I and SEACEF II. The VC firm is in Vietnam, India, Indonesia, the Philippines, and Singapore. Its previous investments in Vietnam include Levanta (a wind power development firm), EBOOST (an open network electric vehicle charging operator), and Stride (a provider of households and small businesses with eco-friendly home improvement projects).

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Dear reader,

The recent breach at OpenAI, while superficial, underscores the increasing value of AI companies as prime targets for hackers.

Although the hack was limited to an employee discussion forum, it serves as a stark reminder of the sensitive nature of data AI firms handle. The significance of this breach is not in its immediate impact but in the potential vulnerabilities it exposes. AI companies like OpenAI possess vast amounts of valuable data, including high-quality training datasets, extensive user interaction logs, and sensitive customer information.

The training data, meticulously curated from various sources, is crucial for developing advanced models and is highly coveted by competitors and regulatory bodies alike.

Moreover, the user data generated through interactions with AI, such as ChatGPT, offers deep insights into user behavior, preferences, and needs, far surpassing traditional search data in value. This data is not only invaluable to developers but also to marketers, analysts, and consultants.

Lastly, the customer data used to fine-tune AI models represents another layer of critical information, often involving confidential internal databases.

The breach highlights the ongoing security challenges faced by AI companies and the necessity for robust protective measures. As these firms continue to grow and integrate deeper into various industries, their security practices must evolve to safeguard against increasingly sophisticated cyber threats.

Sainul,
Editor.

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NEWS

A hacker stole OpenAI secrets, raising fears that China could, too
A security breach at the maker of ChatGPT last year revealed internal discussions among researchers and other employees, but not the code behind OpenAI’s systems.

Delivery Hero flags potential EU antitrust fine, shares slide
The potential fine would be for “alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information and no-poach agreements”.

Investors chase wealthtech startups in India as affluent class grows
The high-net-worth and ultra-high-net-worth segments are booming in India; Only about 50-55% of India’s wealth management market is currently under professional management.

India’s CoinDCX acquires BitOasis in international expansion push
BitOasis’s team is joining CoinDCX the cryptocurrency exchange, with the original leadership continuing to manage the exchange, which offers trading in more than 60 tokens; BitOasis will also retain its branding.

Clime Capital invests US$10M in Vietnamese rooftop solar startup Nami
Nami provides solutions, such as battery storage and energy efficiency measures, to commercial and industrial clients in Vietnam; It enables businesses to access lower-cost and sustainable power without upfront or ongoing expenses.

Gobi-backed Pakistani social e-commerce startup DealCart raises US$3M
The investors include Shorooq Partners, Sturgeon Capital, 500 Global, and Evolution VC; DealCart will use the capital to expand its reach and provide affordable essential goods to Pakistan’s low- and middle-income consumers.

Mylo, BCRemit, PAMMÉ win ARISE Plus accelerator programme in Philippines
ARISE Plus Ye! Boost Accelerator is a 14-week programme providing internationalisation support to youth-led startups; It’s funded by the European Union and led by the International Trade Centre in partnership with the DTI-CIG and QBO Innovation.

Otoklix to provide aftersales support to VinFast customers in Indonesia
VinFast, which entered Indonesia earlier this year, plans to invest US$1.2B to build a local assembly plant with a capacity of 60K cars per year; Otoklix supports independent workshops servicing gas-powered vehicles.

Taiwan’s WhatsApp conversational sales platform Cooby closes US$1.75M round
The investors are Shilling VC, Surge, and Pear VC; Cooby enables teams to communicate at scale through an organised WhatsApp inbox and claims to have served over 600 customers.

SAFVR bags funding from Antler to create safer work environment using AI, VR
It offers mobile gamified training and advanced VR hazard simulations to engage employees and boost safety protocol retention; It offers immersive training modules to enhance knowledge retention and practical skills.

FEATURES

OpenAI breach is a reminder that AI companies are treasure troves for hackers
No security breach should really be treated as trivial, and eavesdropping on internal OpenAI development talk certainly has its value; But it’s far from a hacker getting access to internal systems, models in progress, secret roadmaps, and so on.

FROM THE CONTRIBUTORS

M&A in Asia: A strategic roadmap for venture builders
This insider’s guide aims to provide a comprehensive overview of how to identify promising M&A spots in Asia, leveraging both strategic insights and practical tips to navigate this complex landscape.

A head start in business: How Westbourne’s Future Leaders Lab empowers students
Westbourne’s Singapore-based Future Leaders Lab fast-tracks high-achieving students into STEM business leadership via an MBA-style programme.

FROM THE ARCHIVES

Web3: idealistic vision or inevitable future? Insights from expert Chris Sirise
Saison Capital’s Chris Sirise shares insights on Web3’s potential impact in SEA, real-life applications, and the challenges it faces.

No achievement is too small, no individual is too junior to be highlighted: Zelia Leong of PraisePal
If you have financial responsibilities, it’s best to assess the company upfront and ensure your role will be essential in their upcoming business plans, says the PraisePal Co-Founder.

‘It will take another 5-10 years to rebuild the Myanmarese startup ecosystem’
Myanmar-based startups and founders have migrated to countries, such as Thailand either to relocate their businesses or join the corporate life.

The mastermind behind the Gojek app is out to help others succeed
Former Go-Jek VP of Product Alamanda Shantika opens up about her new projects, leadership style, and a certain street kid named Rio.

Mastering the art of fundraising: Winning strategies to engage investors
The VC financing landscape is constantly evolving so new businesses must know how to successfully approach investors while fundraising.

Ilham Habibie on what it takes to bring the Indonesian startup ecosystem to the next level
According to Ilham Habibie, the country has the fundamentals to become a strong startup ecosystem. But there is a need for more collaboration.

Industry veteran Marc Mercuri on how blockchain revolutionises gaming for players, creators
However, Mercuri does not see blockchain gaming as a replacement or competitor to the existing AAA titles.

Gen Z says no to climbing corporate ladders: What does it mean for SG’s startup ecosystem?
Recent turbulence has Gen Z searching for more meaning and purpose to the work they do, and a path of true authorship, not only ownership.

Indonesia’s startup ecosystem today is no longer recognisable –and that is a great thing
There seems to be an acknowledgement of the important role that the local startup ecosystem can play in building the economy.

Finding the right co-founder involves having tough conversations–and a great sense of humour
While there is always an option to go solo, there are also many good reasons to for you to have a co-founder.

Edutech in SEA is still “far behind compared to North America” – but there is some hope
In this interview, D2L Regional Director Asia Nick Hutton explains the challenges faced in edutech adoption in the Southeast Asian region.

‘Collaboration is essential in promoting responsible consumption’
According to Stephanie Dickson, founder of Green Is The New Black, responsible consumption encompasses key factors that prioritise the well-being of people and the planet.

Autistic founders, advocates share their vision of a more inclusive workplace
With its openness to innovation and unconventional company culture, the startup ecosystem can be a welcoming place for autistic professionals.

The art of letting go and how it makes you an even better entrepreneur
As an entrepreneur, are we agile enough to let go of our “grit” and change direction when the twists and turns call for it?

Why finding your co-founder is a lot like meeting your soulmate
What I learned about finding co-founders from my experiences at MaGIC, Entrepreneur First, and Singapore-Deep Tech Alliance.

Shedding light on Singapore’s software development landscape: How collaboration drives innovation
Another detail that the report revealed is the programming language dominates Singapore’s software development community.

Angel investor Mike Flache shares his tips to begin investing in startups
Mike Flache considers himself as an investor in people, instead of tech. This is how he approaches angel investing.

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

The post Ecosystem Roundup: AI firms face growing security threats | Delivery Hero flags potential EU antitrust fine appeared first on e27.

Choco Up, a revenue-based financing (RBF) and growth platform, recently announced that it has partnered with Set Sail AI, an intelligent contact centre solution provider, to promote the adoption of generative AI solutions among businesses and merchants.

The collaboration will allow Set Sail AI’s customers to access Choco Up’s RBF platform, facilitating the expansion of sales, marketing, and distribution channels for Generative AI technology in Hong Kong and beyond. This partnership aims to unify customer care and lead generation, drive sales, and provide a more holistic customer experience.

Generative AI has the potential to significantly boost global economic output, enhance productivity, and improve customer service by transforming various sectors. Studies suggest that the technology could reduce human-serviced contact volumes by up to 50 per cent and increase productivity in marketing functions by five to 15 per cent.

Set Sail AI’s premier product, the SaaS Gen AI Agents Building Platform, was created to help businesses create customised AI agents for various functions. It manages around 120 million inquiries annually and significantly reduces customer wait times.

Choco Up, with a history of providing swift and flexible financing solutions, has financed over US$1 billion in gross merchandise value in Asia Pacific, helping clients increase revenue, launch new products, expand user bases, and achieve successful acquisitions.

Also Read: Ecosystem Roundup: AI firms face growing security threats | Delivery Hero flags potential EU antitrust fine

In an email interview, Choco Up Co-founder and CEO Percy Hung explained to e27 how the partnership came to be and how they aim to help businesses embrace Generative AI.

The following is an edited excerpt of the conversation.

Can you tell us about how the partnership came to be?

We met through mutual business partners and quickly realised a shared vision: helping businesses grow. Set Sail AI has a robust client base seeking to enhance customer experience through AI solutions, but many lack the necessary capital to invest in these solutions. Our discussions revealed that combining our expertise could bridge this gap, enabling clients to leverage advanced AI without financial constraints.

What specific problem does the partnership aim to solve, as the two companies seem to serve two different aspects of business (financing and customer relations)?

This partnership aims to streamline the adoption of generative AI solutions for businesses and merchants. Choco Up’s mission is to fuel business growth, while Set Sail AI provides tools to enhance customer experience and drive sales through AI. By offering flexible payment terms, we enable more clients to realise their potential.

For instance, Choco Up clients expanding into new markets can use Set Sail AI’s tools to quickly launch chatbots in local languages, improving customer interaction and service. Conversely, Set Sail AI will benefit from faster payments through the B2B Buy Now Pay Later model, allowing them to reinvest funds into R&D and further advance their AI solutions.

What is the unique proposition that you offer to your users with this partnership? How does AI play a role in that?

Our unique proposition combines Set Sail AI’s advanced contact centre solutions with Choco Up’s flexible financing, enabling the seamless adoption of generative AI technologies. This partnership leverages AI’s potential to enhance productivity, personalise marketing, and improve customer service, which is estimated to boost global economic output by up to US$4.4 trillion annually.

Also Read: SAFVR bags funding from Antler to create safer work environment using AI, VR

Set Sail AI provides tools that automate tasks, optimise interactions, and reduce wait times, allowing businesses to create customised AI agents for various functions. Choco Up offers swift, flexible financing that supports growth without requiring equity, enabling investment in technologies like Set Sail AI’s solutions.

For example, AsiaPay (PayDollar) used Set Sail AI’s chatbot to increase sales by 70 per cent for more than 500 merchants within 12 months, allowing merchants to comprehensively manage customers from various channels more effectively with AI.

This partnership helps businesses improve customer interactions and service quality while ensuring they have the necessary resources. Together, we enable businesses to achieve efficiency gains, reduce contact volumes, and focus on growth and innovation.

What is your target for this partnership? How many users do you aim for in the first year? Is there any specific profile of users that you are targeting?

Our goal is to engage businesses across various industries that can benefit from generative AI solutions. In the first year, we aim to onboard users primarily from sectors such as e-commerce, retail, and F&B, where the impact of AI-driven enhancements is most profound. We are targeting companies looking to scale, improve customer engagement, and streamline operations.

Also Read: Google: AI products, solutions to contribute US$146B to Singapore’s economy by 2030

What other areas would you like to explore in the future through this partnership? What other plans do you have this year for this partnership?

In the future, we aim to explore additional industries where generative AI and flexible financing can drive significant value. These include sectors such as aviation, real estate and healthcare, where AI can enhance efficiency, personalise services, and streamline operations.

By leveraging Set Sail AI’s advanced solutions and Choco Up’s financing capabilities, we can facilitate the adoption of AI technologies in these sectors, helping businesses to innovate and grow.

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Image Credit: Choco Up, Set Sail AI

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A new blockchain exchange for impact investors has been launched in Singapore.

The Net Zero-X exchange aims to tackle the significant financing gap impeding the global transition to a net zero future.

Open to institutional and accredited investors, the exchange enables sustainability-minded investors to identify and support vetted green, clean, and climate tech projects.

Also Read: Asia’s climate tech: Communicating solutions and avoiding greenwashing

Net Zero-X has been launched with its flagship project: the world’s first ‘Drive-In Waste Disposal & Energy Recovery Hub’. This UK-based initiative aims to redirect waste from conventional landfill sites to a state-of-the-art facility, reducing carbon emissions and environmental impact while maximising resource recovery.

It has also identified 60 immediate sustainability projects seeking investment. The platform aims to onboard 500 projects within the next five years, facilitating the deployment of over US$10 billion in impact capital over the next decade.

Net Zero-X’s platform is built on technology by the Singaporean blockchain company Chintai. Chintai can offer full transparency and secure the exchange’s investments as it can provide immutable and verifiable records of all transactions.

To minimise the worst impact of climate change, world leaders signed the 2015 UN’s binding Paris Agreement to reduce emissions significantly in the decades to come, reaching net zero emissions by 2050.

Also Read: Driving innovation for a sustainable future: Top climate tech investments of H1 2024

However, the de-carbonisation of the world economy requires tremendous financial investments. A study by Allen & Overy and the Climate Policy Initiative estimates that US$6.2 trillion in climate finance is needed annually from now until 2030, after which it will increase to US$7.3 trillion, totalling nearly US$200 trillion to reach the net zero target.

The cost exceeds what the public sector can finance; the net zero emissions goal requires collaboration between governments and businesses. Today, there remains a staggering US$4 trillion annual global financing gap, which the Net Zero-X exchange platform helps tackle.

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Image Credit: 123RF.

The post Singapore gets Net Zero-X exchange for investors to invest in climate tech projects appeared first on e27.

Although the term Generative AI (Gen AI) has been around since the 1960s, it’s only over the past year that the application has truly taken hold in the mainstream consciousness. From business use to our personal lives, there are countless benefits that Gen AI can bring.

As Singapore embraces its Gen AI Journey, the market is expected to grow at 46 per cent year on year (CAGR), resulting in a market size of US$5.09 billion by 2030. However, for businesses to get the necessary impact out of their investment and ensure a positive experience for all, Gen AI needs to be adopted in the right way.

There is no shortage of examples and applications where Gen AI can really make a difference. Organisations can automate faster and speed up process discovery and development by enabling users to write prompts to create processes, automation and other components.

Gen AI can facilitate improved decision-making by making it easier to access and analyse data. Complexity of automations can be reduced by seamlessly integrating more complex and nuanced use cases into existing processes, with minimal disruption or impact on quality.

While Singapore has made an investment of up to US$500 million to secure high-performance computing resources for AI innovation and capability building, behind the success, there must always be robust data governance, security and accountability.

Also Read: 5 ways generative AI is transforming the payments ecosystem

Any business adopting Gen AI for whatever process needs to ensure that trust and transparency come first and are ‘by design’, not just an afterthought. This is where the fusion of intelligent automation (IA) and Gen AI make for a winning combination.

Automating responsibly  

Gen AI needs to be accountable and auditable. It needs to be instructed and learn what information it can retrieve. Combining it with IA serves as the linchpin of effective data governance, enhancing the accuracy, security, and accountability of data throughout its lifecycle.

Put simply, by wrapping Gen AI with IA businesses have greater control of data and automated workflows, managing how it is processed, secured, from unauthorised changes, and stored. It is this ‘process wrapper’ concept that will allow organisations to deploy Gen AI effectively and responsibly.

The adoption and transparency of Gen AI are imperative now, as innovation continues to grow at pace. The past 12 months have seen significant innovations in language learning models (LLMs) and Gen AI to simplify automation that tackles complex and hard-to-automate processes. According to IDC, this includes large enterprises relying on AI-infused processes to enhance asset efficiency, streamline supply chains, and improve customer satisfaction.

Five years ago, AI tools and models were fairly limited and had narrow applications, but now with off-the-shelf learning models and applications requiring low skills, the only barrier to entry limiting Gen AI adoption is data quality.

Also Read: All hands on deck: How Iron Sail strengthens blockchain gaming ecosystem through collaboration

With 80 per cent of tech leaders planning to adopt Gen AI within three years (Gartner), organisations across all sectors are chomping at the bit to utilise these exciting new technologies within their business processes. Maintaining data security and compliance is imperative.

Future-proofing Gen AI investment

Whether you’re a manufacturing powerhouse or a global financial institution, summarising vast quantities of unstructured data is a challenge for the C-suite and revenue teams alike. Forrester’s AI Pulse Survey highlights how, as Gen AI adds pressure on systems, measurement becomes unpredictable, complicating insight delivery.

Managing security, privacy, and consent adds another layer of complexity. Machine learning’s random nature demands live data sets for measurement and monitoring, lacking a standard linking Gen AI models to source data, increasing uncertainty and risk, the single biggest barrier to the adoption of Gen AI by B2B enterprises.

Before implementing any sort of new automation technology, organisations must establish use cases unique to their business and undertake risk management assessments to avoid potential noncompliance, data breaches and other serious issues.

With the right guardrails in place via a process wrapper like IA to control data input, output and training models, Gen AI can transform how a business automates its processes. By combining Gen AI with IA as the process wrapper, organisations can ensure the security of their data management and transparency.

With a surge of offerings from vendors, customers need to sift through the hype and realise actual business value. Cloud, data, AI, and automation software will continue to push boundaries and overlap with others to create unique applications.

The combination of IA and Gen AI represents a powerful synergy by facilitating effective data governance and enhancing the accuracy, security and accountability of data throughout its lifecycle. Leaders can now be confident in harnessing the full potential of Gen AI to drive their business forward.

As organisations continue to invest in these technologies and a digital workforce, they are not only future-proofing their data management but also ensuring that they can make well-informed decisions while maintaining trust and transparency in their operations by using IA as the process wrapper.

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Mergers and acquisitions (M&A) have long been a key growth strategy for businesses looking to expand their market reach, diversify their product offerings, or gain competitive advantages. With its diverse and rapidly evolving economies, Asia presents a particularly attractive landscape for such strategic moves.

However, navigating this complex terrain requires deep insight and understanding of the regional nuances, market dynamics, and cultural intricacies.

This insider’s guide aims to provide a comprehensive overview of how to identify promising M&A spots in Asia, leveraging both strategic insights and practical tips to navigate this complex landscape.

Understanding the Asian M&A Landscape

The M&A landscape in Asia is characterised by its diversity, encompassing mature markets like Japan and South Korea, rapidly developing economies like China and India, and burgeoning markets in Southeast Asia. Each region offers unique opportunities and challenges, necessitating a tailored approach for effective deal-making.

Understanding the macroeconomic environment, regulatory frameworks, and cultural contexts is crucial for identifying potential M&A targets.

Key economic indicators

Economic indicators such as GDP growth rates, foreign direct investment (FDI) inflows, and sectoral performance can provide valuable insights. For instance, China and India continue to show robust GDP growth, driven by large domestic markets and increasing technological adoption. Southeast Asian countries like Vietnam and Indonesia are also emerging as attractive destinations due to their young populations and rapid urbanization.

Regulatory environment

Each country in Asia has its own regulatory framework governing M&A activities. Familiarity with these regulations is essential for a smooth transaction process. For example, China’s strict regulatory environment requires thorough due diligence, whereas Singapore offers a more transparent and business-friendly regulatory framework. Engaging local legal and financial experts can help navigate these complexities effectively.

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

Sector-specific opportunities

Different sectors present varied opportunities across Asian markets. Key sectors to watch include technology, healthcare, consumer goods, and financial services. Each of these sectors has its own growth drivers and market dynamics.

Key markets for M&A in Asia

China: The giant awakes

• Economic growth: Despite recent slowdowns, China’s economy remains one of the largest and fastest-growing globally. The government’s push towards technological self-reliance and the “Made in China 2025” initiative creates opportunities in high-tech industries.
• Sector focus: Technology, consumer goods, healthcare, and renewable energy are key sectors. The ongoing digital transformation and rising consumer demand drive M&A activities in these areas.
• Regulatory environment: Navigating China’s regulatory landscape can be complex. Understanding the local legal requirements and building relationships with regulatory bodies is crucial for successful M&A deals.
• Notable M&A: Alibaba’s acquisition of Lazada, Tencent’s stake in Supercell.

India: The subcontinental surge

• Economic potential: India’s economy is set for robust growth, fueled by a young population and increasing urbanisation. Government initiatives like “Digital India” and “Make in India” are attracting foreign investments.
• Sector focus: IT services, pharmaceuticals, e-commerce, and renewable energy are booming sectors. India’s IT industry, in particular, offers vast opportunities for consolidation.
• Regulatory considerations: The regulatory environment in India is improving, but challenges remain. Understanding local business practices and compliance requirements is essential.
• Notable M&A: SoftBank’s investment in Paytm, Byju’s acquisition of Aakash Educational Services.

Southeast Asia: The emerging powerhouse

• Economic integration: The ASEAN Economic Community (AEC) aims to create a single market, enhancing the region’s attractiveness for M&A. Countries like Vietnam, Indonesia, and the Philippines offer significant growth potential.
• Sector focus: Manufacturing, fintech, real estate, and consumer goods are thriving sectors. The region’s young, tech-savvy population drives demand for digital services.
• Regulatory diversity: Each country in Southeast Asia has its own regulatory framework. Local expertise is invaluable in navigating these varied legal landscapes.
• Notable M&A: Grab’s acquisition of Uber’s Southeast Asia business, Vingroup’s acquisition of General Motors’ Vietnam operations.

Japan and South Korea: The mature markets

• Economic stability: Japan and South Korea offer stable, mature markets with advanced infrastructures. These countries are leaders in technology, automotive, and electronics industries.
• Sector focus: High-tech industries, robotics, AI, and biotechnology are key areas for M&A. Japan’s ageing population also presents opportunities in healthcare and elder care.
• Regulatory environment: Both countries have well-established regulatory frameworks. Partnering with local firms can facilitate smoother M&A processes.
• Notable M&A: SK Hynix’s acquisition of Intel’s NAND memory business, Hitachi’s acquisition of ABB’s Power Grids business

Identifying M&A opportunities

To identify M&A opportunities in Asia, venture builders should focus on several key factors:

Market trends and growth potential

• Industry analysis: Evaluate the growth potential of various industries. Look for sectors with high growth rates, technological advancements, and rising consumer demand.
• Market entry strategies: Determine whether acquiring an existing company or forming a joint venture is the best approach for market entry. Consider the benefits of local expertise and established networks.

Also Read: GoTo completes merger with TikTok Shop Indonesia

Regulatory and legal landscape

• Compliance requirements: Understand the regulatory requirements for M&A in each country. This includes foreign investment restrictions, antitrust laws, and tax implications.
• Due diligence: Conduct thorough due diligence to identify potential legal and financial risks. This includes assessing the target company’s compliance with local regulations and its financial health.

Cultural considerations

• Cultural fit: Ensure that the target company aligns with your organisational culture and values. This can facilitate smoother integration and improve the chances of post-merger success.
• Local expertise: Engage local advisors and partners who understand the cultural nuances and business practices of the region. This can help navigate potential challenges and build stronger relationships.

Strategic approches to M&A in Asia

Leveraging technology and innovation

• Digital transformation: Invest in companies that are leading the digital transformation in their respective industries. This can provide a competitive edge and open up new revenue streams.
• Innovation hubs: Focus on regions with strong innovation ecosystems, such as China’s tech hubs (Shenzhen, Beijing) and India’s IT cities (Bangalore, Hyderabad). These areas attract top talent and offer access to cutting-edge technologies.

Fostering strategic partnerships

• Joint ventures: Form joint ventures with local companies to gain market insights and share risks. This approach can be particularly effective in navigating complex regulatory environments.
• Collaborations: Collaborate with local universities, research institutions, and startups to drive innovation and tap into new technologies.

Focus on sustainability and ESG

• Sustainable investments: Prioritise investments in companies that align with environmental, social, and governance (ESG) criteria. Sustainable investments are increasingly important for long-term success.
• Green technologies: Invest in green technologies and renewable energy sectors. Asia is making significant strides in this area, driven by government initiatives and rising consumer awareness.

Final thoughts

Identifying M&A spots in Asia requires a deep understanding of the region’s diverse economic landscapes, regulatory environments, and sector-specific opportunities. By leveraging strategic insights, conducting thorough due diligence, and fostering cross-cultural integration, companies can successfully navigate the complexities of the Asian market and capitalise on the abundant M&A opportunities.

As a venture builder with extensive experience in Asia, I have seen firsthand the transformative impact of successful M&A transactions. By adopting a strategic and informed approach, businesses can unlock significant growth potential and achieve long-term success in this dynamic region. Whether you are looking to enter new markets, acquire innovative technologies, or expand your product offerings, Asia offers a wealth of opportunities for forward-thinking companies.

In the ever-evolving landscape of M&A, staying informed, agile, and culturally aware is key to identifying and capitalising on the most promising M&A spots in Asia.

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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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Otoklix, an O2O digital solution for automotive aftermarket services, has partnered with Vietnamese electric vehicle (EV) manufacturer VinFast to serve as the latter’s authorised service provider for customers in Indonesia.

VinFast, which entered Indonesia earlier this year, plans to invest US$1.2 billion to build a local assembly plant in the Jakarta suburb of Depok with a capacity of 60,000 cars per year.

Also Read: YouTube co-founder, Alpha JWC, AC Ventures back Otoklix’s US$10M funding round

Launched in 2019, Otoklix supports independent workshops servicing gas-powered vehicles. Its solutions serve both sides of the market by simplifying the process of booking vehicle maintenance services with a customer-facing application and equipping independent car workshops with visibility, business software solutions and procurement savings.

Otoklix operates its signature shops across major Indonesian cities, empowering “millions of workshops”. Currently, the partnership with VinFast is limited to these proprietary outlets.

In Q3 2023, the AC Ventures-backed company claims to have doubled its topline revenue year-over-year, alongside notable improvements in unit economics, with profitability in sight.

“Over the next ten years, as the EV market expands, we expect to see a rise in demand for car parts that are as good as original but more affordable. This includes mechanical parts and components of batteries, like individual cells, but not whole batteries. We plan to partner with companies that make these parts instead of making them ourselves. This will enable us to supply independent workshops with components, offering EV owners more affordable and competitive options beyond just original parts,” said Otoklix co-founder and CEO Martin Reyhan Suryohusodo.

According to him, specialised services, particularly those related to battery maintenance and software management, will become increasingly in demand as vehicle technology evolves in Indonesia.

“Battery swapping stations require significant capital investment in infrastructure. Currently, NIO in China is a notable example where heavy investments have been made in this technology. Tesla initially considered this approach but abandoned it due to the high costs involved. A critical issue for global investors interested in Indonesia’s EV market is regulatory clarity concerning the commercial sale of electricity. Currently, all commercial electricity sales must go through PLN, Indonesia’s state electricity company, which could pose a challenge for any third-party charging station provider,” Suryohusodo added.

Otoklix recently launched an academy dedicated to training mechanics in the intricacies of EV servicing. The initiative addresses the urgent need for a workforce skilled in the specific requirements of EVs, focusing on safety and technical proficiency.

Also Read: VinFast to soon begin construction of US$500M EV factory in India

“In our academy, we teach that servicing EVs isn’t just about the mechanical aspects—like brakes or tyres, which are similar to those on gas-powered cars—but crucially about the software and electrical components, especially the battery. Unlike traditional vehicles, you don’t replace the entire battery on an EV. When a cell fails, you replace just that cell, not the whole battery. Ensuring a tight seal during this process is critical to prevent damage from moisture or dirt. This requires not just technical skills but also proper safety practices. Very importantly, mechanics must wear insulated gloves and use specific tools to avoid electrical hazards, a fundamental shift from conventional car repair.”

In 2021, Otoklix secured US$10 million in a financing round from Alpha JWC Ventures and AC Ventures. Sequoia Capital India’s Surge, Astra International’s former CEO Prijono Sugiarto, YouTube co-founder Steve Chen, and Google executives in XA Network also participated.

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