Mylo Speech Buddy, BCRemit, and PAMMÉ have been announced as the cohort 3 winners of the ARISE Plus Ye! Boost Accelerator Program at its recently concluded Demo Day in Taguig City in the Philippines.

Launched in 2021, ARISE Plus Ye! Boost Accelerator is a 14-week programme providing internationalisation support to youth-led startups. It is funded by the European Union (EU) and led by the International Trade Centre (ITC) in partnership with the Department of Trade and Industry – Competitiveness Innovation Group (DTI-CIG) and QBO Innovation.

Also Read: QBO partners with e27 for Startup Venture Fund Pitch

Mylo Speech Buddy, a speech development app for children with autism and speech delays, won first place and secured a US$2,500 pitch prize.

BCRemit, a London-based fintech company that empowers Overseas Filipino Workers (OFWs) with efficient money transfers, was awarded second place and received a US$1,500 grant.

PAMMÉ, a fashion brand that crafts sustainable accessories from recycled plastic made by women deprived of liberty, came third with a US$1,000 pitch prize.

In addition to the cash prizes, the programme will also provide the winners with opportunities to build stronger networks with EU partners and investors to support their global market expansion.

Other participants of the ARISE Plus Ye! Boost Accelerator Program Cohort 3 are:

Capilli: a social enterprise creating eco-friendly products from upcycled human hair waste

Hibla Philippines: a social enterprise preserving Philippine weaving traditions

IndieCo: an SEO company blending human creativity with AI for business content

Nama Urban Farms: an urban agriculture startup cultivating nutritious produce

Nutricoach Inc.: a platform aiding dietitians in building and scaling nutrition clinics

Also Read: How Mylo Speech enhances speech therapy accessibility for autistic children in the Philippines

Prezenter: a company that simplifies presentations in under 10 seconds, helping teachers put their lessons on Smart TVs

Reelist8: a proptech x Shoppertainment marketplace for real estate transactions

REPAMANA: a circular fashion brand repurposing hotel textiles into new garments

TERPCAP Inc.: an accessibility solutions provider for inclusive workplaces.

Separately, the DTI, in partnership with the EU and ITC, has unveiled a comprehensive mapping report to identify and leverage growth opportunities for young Filipino entrepreneurs and ecosystem actors, such as Technology Business Incubators (TBIs).

The report titled ‘Entrepreneurship Ecosystem in the Philippines – Network Analysis and Mapping of Institutions Supporting Youth Entrepreneurship’ aims to foster an inclusive environment where young entrepreneurs can thrive, innovate, and contribute to sustained economic development.

The report’s recommendations include creating a TBI info-sharing network to streamline access to relevant updates and content, establishing a country guide to support services for entrepreneurs, and expanding support beyond the tech sector.

Also Read: The rising tide: The Philippines’ thriving startup ecosystem and strong support

The Philippine startup ecosystem has shown continuous growth despite the challenges posed by the COVID-19 pandemic. In 2021, the country ranked 52nd globally, with thriving industries including fintech (19 per cent), e-commerce (7 per cent), education and healthcare (5.2 per cent), and agriculture (3.1 per cent).

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DealCart, a social e-commerce platform enabling consumers to access essential goods in Pakistan, has raised US$3 million in a seed funding round led by Shorooq Partners and Sturgeon Capital.

500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners also joined the round. The venture earlier raised funding from Fatima Gobi Ventures, a joint venture between Pakistan-based Fatima Group and Southeast Asia-focused Gobi Partners.

Also Read: In SEA’s healthcare space, occasional regulatory hurdles, legacy infra are hard to penetrate: Gobi Chief

This capital infusion will support DealCart’s mission to expand its reach and provide affordable essential goods to Pakistan’s low- and middle-income consumers. “Our goal is to make everyday necessities more affordable and accessible, and this funding will help us get closer to that vision,” co-founders Haider Raza and Ammar Naveed said in a joint statement:

In 2023, Pakistan’s inflation rate soared past 30 per cent, putting significant financial strain on households. DealCart aims to ease the financial burden and offer low-cost goods by sourcing products directly from manufacturers and collaborating with locally manufactured brands.

DealCart targets consumers spending about 50 to 60 per cent of their income on groceries and essentials to enable them to save more and invest in a better future. The company also targets a digitally sophisticated younger population that prefers online retail spaces.

Also Read: The evolution and regulation of social commerce in Indonesia: The TikTok Shop ban

“DealCart has identified a market gap and is developing a distinctive approach to social commerce and providing affordable essentials to most consumers, an approach that aligns with our mission to support market-leading disruptors,” said Omer Zabit, principal at Shorooq Partners. “We believe this investment will enable DealCart to scale rapidly and significantly impact the lives of millions in Pakistan.”

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Image Credit: DealCart.

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The current funding squeeze in the private capital markets has closed many startups. In the recent Pitchbook survey, about 3,200 venture-backed businesses went bust last year. With Venture Capital Firms taking a more cautious stance on parting with their “dry powder,” more and more startups are experiencing a cash crunch, unable to secure additional funding to finance their operation as they pursue product-market fit.

This is particularly tricky when a startup is in the “chasm,” the market purgatory where its product is yet to break into the early majority customer base. More than ever, a startup must be diligent in testing and experimentation while providing consistent operational support to its customers at this stage.

Hiring for critical roles is integral at this stage, and marketing spending is essential. Holding off to preserve cash at this stage could put the startup in the zombie zone, a stagnant state that prevents immediate collapse and hinders meaningful growth. 

I call such a stage in a startup’s life death by a thousand paper cuts.

Also Read: Don’t drink the Kool-Aid: Remembering why we build

Though VC firms are using dry powder for bridge financing on their active portfolios, there is no guarantee that your existing investors will write you a check so you can live another day. 

However, keeping an open and healthy relationship with your current investors remains essential. Continuously improving the efficiency of your operations while keeping investors abreast of your situation is even better.  

So, when your runway cannot support your scale during a funding crunch, these five points can help you avoid death by a thousand paper cuts.

Keep your books clean

When the runway is short, running a tight ship on your cash flow is a must. It is easier to find leaks when you know where to look, and having clean and timely financial records can help. Since setting up a fully functioning finance department is expensive, you can consider outsourcing it to service companies with operational knowledge of your industry. If you still need one, a fractional CFO can provide value in scenario planning, financial modelling, and cash flow management.

Adopt the Kanban method when working on priorities across your organisations

Set a limit of work-in-progress items at any given time to avoid stretching finite resources. In his book The Lean Startup, Eric Ries recommended that no more than three items be at any stage at any given time. Limiting the priorities at any given time will ensure that resources are allocated efficiently on high-priority tasks and train the organizations to separate the “need to be done” versus the “nice to be done”.

Focus your efforts and attention on your identified beachhead market

Running after different customer personas can stretch your cash flow thin and drain your war chest inefficiently. The more targeted your customer is, the more equipped you are to establish coordinated efforts across your departments. Refining product-market fit and generating revenue cost-effectively with limited resources is much easier if you are not chasing multiple buyer personas.

Trim the fat on your overhead

The Friday mixer, where only the same people keep showing up, could be skipped. Avoid multi-year or annual contracts on apps and tools that are not integral to your operations. Also, the savings in going long-term versus monthly payments are moot if you cease to exist in a year. Taking proactive measures toward efficient capital allocation can message your investors of fiscal discipline.

Outsource “certainties” so your core team can focus on managing “risks”

A startup’s challenges as it grows are either certainties or risks. Risky initiatives are often iterative and require a certain degree of commitment and foresight that only your core team can execute. On the other hand, certainties are often procedural and repetitive tasks that are easier to delegate to the right outsourcing partner.

Also Read: 3 things I have learned about the SEA startup ecosystem in the last 8 years

Understanding which of your day-to-day operations are certainties would allow you to tap reputable service providers with the organizational capacity to monitor and train their people to deliver the agreed KPIs for you. Data extraction, Labeling, bookkeeping, Data Analytics, HR Admin, and Customer Support are some roles your startup can easily outsource. 

A short runway during a funding squeeze is no small feat to manage. However, skirting around the issue of a cash crunch could do a startup more harm than good, mainly when follow-on funding rounds are more challenging to close. Putting all your bets on a lifeline from investors without changing how you carry out your operations is risky.

In the best scenario, you only have to deal with dilution and a downround. In the worst case, the lifeline may not arrive, and you have to close the shop. Staying ahead and on top of the crunch can allow you and your team to set priorities on focused, interconnected wins before your startup reaches an irreversible position. 

There is, however, a silver lining here. The current fundraising environment in the private capital markets would further separate the winners from the losers more clearly than the bull run we experienced between 2020 and 2022. Startup founders who can navigate this current funding squeeze will have an advantage in driving their business forward once the storm subsides. The ones who don’t could either fail big or die a little every day.  

Remember, you do not get bonus points on how close you are to getting product market fit if you run out of money on your way to getting there.

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Westbourne College Sydney, a new STEM-centric high school for academically elite students seeking pathways to the best universities in Australia and around the world, is always on the lookout for students’ experiences in the Business/STEM and leadership space.

An MBA-style experience for high schoolers

All of these things coalesced in the involvement of 14 of our students in the Westbourne Future Leaders Lab at the Singapore college campus from June 24-28. Having spent the week in Singapore with Westbourne students and seeing it all firsthand, it is no doubt an opportunity like no other – an invaluable experience for high school students to obtain a genuine MBA-styled education adapted appropriately for their level of experience while challenging them to learn business at the next level.

Westbourne Sydney students joined students from our sister schools in the UK and Singapore from our Westbourne International network to learn from INSEAD Professor Adrian Johnson and other industry professionals. This week-long workshop covered many of the areas one would expect to see in an MBA, and the students were able to use some of the latest AI tools to sharpen their business, communication and strategic skills.

The course revolved around keynote presentations on areas such as communication, creativity, negotiation, use of AI, start-up business planning, strategic analysis of business viability, financial planning and the roles of key people in imagining, planning, launching and ensuring the sustainability of a business.

Case studies on how successful businesses started allowed students to strategically apply this information and, in groups, brainstorm their own business ideas, which were then analysed, challenged and ultimately distilled down to one business venture per group.

Even in the earliest stages, it was clear that all of these businesses were not only achievable but would have a unique place in the business sector and could easily attract financial backing. Most business ideas involve sophisticated, cutting-edge technology and are not listed in detail here because the ideas are so good that they could easily be snapped up by others!

Students gradually devised and revealed aspects of their business operation and used Johnson’s experience and expertise as an academic at INSEAD to continually refine and enhance their business proposals. It is worth noting that INSEAD is ranked 2nd  in the world business school rankings and is determined to regain the number 1 spot previously held.

Also of note, Johnson is no theoretical academic, he has started and grown a highly successful business of his own and has extensive networks around the world. Students at the Future Leaders Lab gained incredible insights and connections that would normally be only accessed by MBA students with at least a decade of experience in the business world.

One of the most compelling sessions explored the students’ negotiation skills, with students engaging with an AI tool that saw them negotiate a contract with a fictitious Hollywood star. It was impressive to see students take on characters and force themselves to adapt their negotiation style to suit the different characters and the demands of the situation, respectively.

The negotiations were complex and went beyond the fictional star to include his family, his agents and those in the industry. Students held negotiation sessions using the AI tool, which adapted to the negotiation approach and scored the groups on how well they managed this complex individual, with the winning group scoring 79, only just below the scores gained by experienced negotiators completing their MBA!

Industry exposure and insights

A major highlight I observed from our students was when the programme reached its full-day excursions to Google and INSEAD Singapore. The sheer excitement of visiting these well-established corporations was clear from their facial expressions.

First, we visited INSEAD, where students toured the leading business universities and learned about their current focus on sustainability. They had a taste of university life by hearing a lecture within a lecture hall and then entered a graffiti-decorated Creative Lab purposely built for brainstorming.

Following that visit, students stepped into Google to learn about their work culture from ‘Googlers’ themselves, along with the recruitment process. This was then followed by a tour of the building, where students were able to see how a business environment takes into consideration the design of workplaces, such that each space is intentionally built with purpose.

When I asked Eliott, a student of Westbourne Sydney, what he enjoyed most, he responded, “My favourite thing about Google and INSEAD was being able to see the facilities. It was really cool being able to see all the different ways that INSEAD’s trying to be more sustainable.”

On Thursday, back at the Singapore College, the programme kicked off with a business communications session by Anna Ong. Ong assists major organisations such as JP Morgan with how to use narrative to engage stakeholders, preceding the final session on Friday afternoon, which was the eight-minute “pitch” to venture capitalists for backing of their business proposal.

As a Comedian by night, she has an impressive ability to mix humour with strong business communication skills. She brought to this session her extensive experience in dealing with different types of organisations, including cultural awareness from her experience living, working and operating businesses across the globe. This exposure is certainly invaluable as our students begin their own journey beyond Australia.

Culminating event: Pitching to venture capitalists

On the final day, Friday, students faced the audience of venture capitalists. This was a combination of local Singapore business guests, parents, students and staff from Westbourne College in Sydney and Singapore. The quality of the ‘pitches’ was staggering. Some teams used AI-generated content to create promotional videos that were of market quality.

All groups led with their mission and vision, explained the feasibility and sustainability of the product, produced financial forecasts, detailed how they compared to any market competitors using the Blue Ocean strategy presented by Professor Johnson, and explained their roles in the venture.

In eight minutes, the groups managed to create a compelling and realistic business plan for their product or service and, just as significantly, faced a two-minute interrogation of their business by the judges who scored each team. The quality of every presentation was high, and as two teams received the same score, the final winner was decided by the quality of a one-minute summary pitch.

Key takeaways: Preparing for successful futures

Speaking with Johnson, he mentioned, “At the Westbourne Future Leaders Lab, we delved into topics typically reserved for elite universities, tackling subjects that are the domain of top students and executives.

It never ceases to astound me how adeptly these young high school students grasped the sophisticated concepts and themes we explored this week. We kicked off with an ideation session, brainstorming new ventures harnessing the power of AI. This was followed by a comprehensive business modelling exercise, covering leadership and entrepreneurship topics from the business model canvas to the blue ocean strategy.

The week culminated in dynamic strategy fair presentations, where each team created innovative booths and presented their projects in a lively and impactful manner. The energy and creativity on display were nothing short of inspiring.”

The Future Leaders Lab, a world-first of its kind, certainly matched my own education in my early years as Deputy Principal. All these key learnings and insights from the programme have helped shaped the future leaders of tomorrow in Singapore, Australia and UK who will become the next generation business leaders and entrepreneurs across science, tech and engineering.

I am particularly thrilled that high school students have this learning opportunity, where they learn directly from industry professionals and gain a head-start in preparation for their future.

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

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In our rapidly evolving marketplace, especially in the age of artificial intelligence (AI), building a company culture that fosters highly engaged employees is not just nice to have; it’s a necessity. Engaged employees are the backbone of a successful business, reporting better well-being, superior retention rates, lower absenteeism, and higher productivity.

Engaged teams consistently outperform others and are instrumental in meeting business goals and driving growth. Yet, many companies seem to lose sight of this crucial aspect.

Gallup said global employee engagement was a mere 23 per cent in 2023. This statistic presents a significant opportunity for business leaders to access the untapped potential of the majority. Regardless of your current situation, improving engagement is always within reach. After all, in leading companies, over 70 per cent of employees feel engaged.

In addition, businesses are failing to unlock their employees’ full potential, and poor workforce planning is holding back growth for most organisations. Our recent fourth annual global workforce report titled ‘Building a Resilient Workforce in the Age of AI’ reveals executives are turning to AI and automation to solve challenges but struggle to implement digital strategies effectively and neglect to offer adequate employee training.

Engaging your workforce should be a top priority, as poor workforce planning impedes business growth and diminishes business opportunities due to a lack of talent. This is not the time to ease off. In fact, when navigating a tough market that is rapidly being transformed by AI, it’s crucial to maintain a strong focus on employee engagement.

Also Read: Are you a human resource?

KellyOCG has witnessed the transformative power of consistent investment in employee engagement regardless of market conditions.

Our journey has been marked by several success stories, where our strategies have improved employee engagement and led to significant business outcomes.

Developing people

The KellyOCG APAC Learning and Development team has made a massive effort to improve and increase our onboarding and ongoing training programmes. Numerous skills enhancement workshops and knowledge-sharing sessions reinforce the capabilities of our various operational teams, positively impacting our service delivery to clients.

Just a few of our wide-ranging training topics include:

• Managing change
• Coaching skills
• A mentoring mindset
• Situational leadership
• Numerous AI and digital skills training

Using AI to analyse data from various sources, including performance reviews, feedback surveys, and even social media interactions, it is possible to create detailed profiles of employees. These profiles can help understand individual preferences, strengths, and areas needing development. With such information, organisations can tailor learning and development opportunities, assign suitable projects, and even personalise recognition and rewards, thereby fostering a deeper connection between employees and the organisation.

Celebrating success

Over the years, we’ve learnt that a culture of celebration and gratitude, which means acknowledging and appreciating the efforts and achievements of our employees, drives high performance! We’ve found that spending quality time celebrating in the sunshine with your colleagues is a great motivator to encourage engagement throughout the year.

Transparent goal setting

Each team utilises the OKRS (Objectives and Key Results) goal-setting method, a popular management framework to set challenging and ambitious goals and track progress monthly. AI can facilitate continuous performance evaluation by analysing real-time data such as project outcomes, client feedback, and peer reviews.

This allows for more frequent and objective assessments, enabling managers to provide timely feedback and coaching. Employees feel more engaged when they know how they fit into a larger corporate strategy and how their actions contribute to company results.

Autonomy, control, and flexibility

We firmly believe that our people should have a say in decisions that impact their lives. Therefore, we’ve decentralised decision-making for many non-strategic functions, empowering individual teams. This approach fosters a sense of ownership and makes our employees feel valued and integral to the company’s operations. Some ways this works best include flexible work schedules, and we’ve found that people are happier and more engaged when choosing their own work style and schedule.

Also Read: Why HR tech will make Asia’s next unicorns 

Additionally, AI-powered chatbots and virtual assistants are revolutionising the way employees interact with their workplace. These intelligent systems can quickly and accurately handle routine inquiries about policies, benefits, and procedures, freeing up HR personnel for more strategic tasks. This not only improves efficiency but also ensures that employees receive timely responses to their queries, thereby enhancing satisfaction and reducing frustration.

Giving back

Corporate social responsibility (CSR) initiatives reflect our corporate values and foster a team spirit and sense of collective achievement. When our Malaysia team members recently united to roll up their sleeves and spend the day cleaning Teluk Kemang Beach, they demonstrated that when we come together for a good cause, the effects are tangible: we responsibly disposed of 30 kilogrammes of trash; we created a cleaner, more beautiful coast; and we had the opportunity to engage and accomplish something as a team that we could not have done as individuals.

Focus on wellbeing

Employees must have the time and resources to address their physical and mental health and well-being to feel engaged at work. This starts with respecting personal lives and priorities outside the office:

• Recognise the need for a healthy work-life balance
• Provide wellness programmes such as health screenings, fitness classes, counselling services, etc.
• Encourage breaks and vacations

Looking ahead

While AI has the potential to revolutionise employee engagement, we should realise this potential requires thoughtful implementation, ethical considerations, and a human-centric approach. By leveraging AI responsibly and strategically, organisations can create workplaces where employees are not only productive but also fulfilled and motivated, driving sustained organisational success in the digital age.

As we move forward—against relatively strong economic headwinds—let’s all remember that now is not the time to let up in our campaigns to build a healthier company culture that promotes employee engagement. If anything, it’s time to put the pedal down and redouble our efforts.

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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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Artificial Intelligence is rapidly developing. As a result, so many things can be done with little effort if you only understand AI and give a decent prompt, or you can just click a few buttons to use an AI tool.

AI helps us save time and money

Let me give you a quick personal example of that. I remember in 2016 (yeah, eight years ago) when I started in Web design, it took me about three to four hours on average to build a website. Today thanks to different AI tools, as long as I am not trying to create a complex website with unique custom functionalities, I only need 30 minutes. AI helps us save time.

It also helps us save money. I started in web design not because I wanted to become a web designer in the first place but because, for me, it was too expensive to pay someone to build me a website, on top of additional fees for hosting, plugins, and optimisation.

People who have the money to pay a freelancer or an agency are still doing it, but most of us would prefer to save money whenever possible. And today, AI allows us to do the job ourselves without spending much time trying to do it.

But not yet in all sectors

All that is about the benefits of AI for those of us who need the services, but what about those who offer these services? This is where the issue of how AI is about to affect the job market arises. The bad news is yes, AI will affect the demand for some talents. However, the good news is that not all job categories will be negatively affected. Or at least not yet. This is the case with blue-collar jobs.

Here are a few reasons why:

Physical nature of work

Many blue-collar jobs involve manual labour and physical tasks that are difficult for AI to replicate. Jobs requiring dexterity, spatial awareness, and adaptability to changing environments are less susceptible to immediate AI replacement.

Also Read: Singapore surpasses US in AI investment: Study

Need for human creativity, problem-solving, oversight, regulatory and safety concerns

Blue-collar roles often require creative thinking and complex problem-solving, which AI currently struggles with. For example, auto technicians need to diagnose and fix unique mechanical issues, while landscapers design custom outdoor spaces.

In industries where safety is critical, such as construction or manufacturing, there may be hesitancy to fully automate processes without extensive testing and regulatory approval.

Even as AI is integrated into blue-collar work, human workers will likely need to supervise, maintain, and work alongside AI systems in the foreseeable future.

Cost considerations

It’s expensive to implement advanced AI and robotics systems in blue-collar businesses. Many businesses, especially smaller ones, may not have the capital to optimise their operations with AI technology.

Don’t get me wrong, AI will undoubtedly come for some blue-collar jobs over time, but the factors I’ve just mentioned suggest that the transition will be more evolutionary than revolutionary. This gives workers, businesses, and policymakers time to adapt and prepare for the changing landscape of blue-collar work.

Let me know what you think about that.

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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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As internet use integrates deeper into daily life, organisations such as nonprofits must adapt to capitalise on its transformative power. Globally, 54% of donors now prefer online giving, a trend that has seen significant growth year over year. In 2020, online donations surged by 21%, marking a 32% increase over the past three years.

The benefits of online fundraising are compelling: it saves resources, enhances donor relationships, and expands outreach, enabling broad participation in charitable missions. Leveraging digital platforms and social media, fundraisers can efficiently raise funds and amplify their impact. This efficiency is evident in the substantial 40% growth in online donations observed in recent years. Real-time updates on campaign progress further engage donors, fostering transparency and trust throughout the donation journey.

For nonprofits, embracing online fundraising isn’t just about keeping pace; it’s about harnessing digital tools to drive meaningful change and sustainability in their missions. Adapting to these trends not only increases operational efficiency but also broadens the reach and impact of their charitable endeavours in an increasingly connected world.

Kitabisa’s journey: Bridging the gap in the online donations space

Recognising the importance of online donation and the lack of a reliable online donation platform in Indonesia, Kitabisa (meaning “We Can”) was founded in 2013 in Jakarta to bridge this gap and connect people with causes they care about.

With a mission to create a kinder world, by enabling you to channel kindness at scale, Kitabisa has experienced remarkable growth, it has evolved into an impactful ecosystem enabler, amassing a user base of over 10 million users, collectively raising over 850 billion Indonesian Rupiah (US $52 million) annually for more than 1,000,000 campaigns, 3500+ NGOs and social institutions, and 400 CSR initiatives, supporting a wide array of social causes.

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

The platform empowers individuals, communities, non-profits, and companies to raise funds by creating personalised fundraising pages for various social, personal, and creative endeavours, fostering a culture of giving and community support across Indonesia.

In its early days, Kitabisa focused on building a reliable and user-friendly platform that would simplify the process of fundraising and donating for social, personal, and creative endeavours. To stay on this path and serve as a bridge for goodness and a forum for mutual cooperation for the Indonesian people, it seeks to encourage users to donate more via the app, through personalised and data-driven engagement.

Challenges faced by Kitabisa: User activation and retention

As Kitabisa grows, it has achieved significant milestones and has become Indonesia’s largest and most trusted donation platform. However, this growth was not without its challenges. One major hurdle was user activation and onboarding. Many users struggled with the initial steps of registration and understanding how to use the platform effectively. This was compounded by the difficulty of implementing marketing automation at scale, which is crucial for maintaining user engagement and encouraging repeat usage.

Additionally, Kitabisa faced struggles with user retention, experiencing high drop-off rates after app installation. Statistics revealed that over 50% of users did not proceed to register or pledge after their first launch of the app. This highlighted the importance of the first-time user experience (FTUE) in determining app success.

To address these challenges, a seamless and engaging FTUE is essential for retaining users and ensuring they understand the value of the platform, ultimately leading to higher registration and pledge rates.

Harnessing CleverTap’s solutions to overcome challenges

Founded in 2013, CleverTap is an all-in-one customer engagement platform that unifies people, processes, and technology. Designed for real-time scalability, it helps businesses convert customers into lifelong patrons through in-moment experiences. CleverTap provides analytics to understand user behaviour, segmentation tools, and automated marketing campaigns for personalised interactions. Leveraging machine learning and predictive analytics, CleverTap enhances user engagement, retention, and long-term customer loyalty.

Also read: Travel made easy with azgo: Making your journeys smarter

Implementing CleverTap’s solutions, Kitabisa utilises analytics features such as funnels and cohorts to understand user journeys, identify friction points, and track churn trends. This data-driven approach enhances marketing campaigns by creating actionable segments and delivering relevant messages across preferred channels, such as in-app notifications for new users.

By leveraging CleverTap’s Journeys, Kitabisa orchestrates omnichannel marketing campaigns at scale, eliminating the need for extensive coding and reducing reliance on the development team.

This strategic use of segmentation improves campaign relevance and click-through rates (CTR), ultimately boosting week-over-week retention rates and increasing the lifetime value (LTV) of users. Funnels provide insights into user behaviour throughout the donation process, while cohort analysis informs effective win-back campaigns, ensuring that Kitabisa maximises engagement and support for social causes.

Kitabisa’s success with CleverTap

Kitabisa’s adoption of CleverTap has become one of the biggest factors in helping the company yield significant outcomes, including increased user engagement, retention, and lifetime value (LTV). Specific success metrics include a 33% rise in the median number of donations per user, a 10% increase in average click-through rates (CTR) for push and in-app notifications, and a 5% boost in user stickiness. These achievements underscore CleverTap’s impact in enhancing Kitabisa’s operational effectiveness and fostering sustained growth.

Looking ahead, Kitabisa is poised to capitalise on further growth opportunities, encouraging other tech startup entrepreneurs to harness similar solutions to drive their success in the competitive digital landscape.

Also read: Echelon Philippines opens growth opportunities in the Philippines and beyond

“CleverTap has enabled us to take an integrated approach whereby we can track user interactions and tap insights to better understand user behaviour. This equips us to deliver prompt nudges and highly relevant communication across various channels, based on the user’s behaviour. Further, we are even able to predict future intent and tailor our communication appropriately,” shared Denny Yusuf, Product Lead at Kitabisa.

Tech startup entrepreneurs can explore CleverTap’s transformative solutions to propel their ventures by visiting their official site.

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This article is produced by the e27 team, sponsored by CleverTap

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Fintech funding in Southeast Asia significantly declined in the first half of 2024, making it the least funded half-year in the past three years, reveals a Tracxn report.

The highest half-yearly funding was recorded in H2 2021, after which it significantly dropped, thanks mainly to the current macroeconomic conditions and geopolitical issues.

According to Tracxn’s Geo Semi-Annual Report: SEA FinTech H1 2024, fintech companies in Southeast Asia secured a total of US$899 million in H1 2024, which is 25 per cent lower than the US$1.2 billion raised in H1 2023 and 31 per cent lower than the US$1.3 billion in H2 2023.

Also Read: SEA startups raised US$371M across 42 rounds in March: Tracxn report

This downward move was driven by declines in seed and late-stage investments.

Late-stage investments fell 47 per cent to US$338 million in H1 2024 from US$632 million in H1 2023. Seed-stage investments stood at US$42.5 million in H1 2024, a 53 per cent decrease from US$90 million in H1 2023.

However, early-stage funding rose 17 per cent to US$519 million in H1 2024 from US$443 million in H1 2023.

Only two US$100 million+ rounds were reported in H1 2024, as against four each in H1 2023 and H2 2023: ANEXT Bank’s US$148 million Series D round and GuildFi’s US$140 million Series A round.

Investment tech, alternative lending, and banking tech are the top-performing segments based on funding in the H1 2024 fintech sector.

The investment tech segment secured US$216 million in H1 2024, an increase of 666 per cent compared with the US$28.2 million in the first six months of 2023.

The alternative lending segment raised US$206 million in H1 2024, a drop of 59 per cent compared with US$502 million raised in H1 2023.

Banking tech companies raised US$186 million in H1 2024, a growth of 59 per cent from the US$117 million raised in H1 2023.

No fintech companies went public in the first six months of 2024. However, the number of acquisitions increased– to 16 in H1 2024 from 11 in H1 2023 and 13 in H2 2023.

Also Read: Top 10 startup investment deals in June in Southeast Asia

Singapore dominated the fintech funding scene, accounting for more than half of the total investments. Fintech companies in the city-state raised US$518 million in H1 2024, while those based in Bangkok and Jakarta raised US$140 million and US$128 million, respectively.

East Ventures, Y Combinator, and 500 Global are the all-time top investors in this space. Antler, Hashed, and AppWorks were the top investors in seed-stage rounds in H1 2024, while MassMutual Ventures, Illuminate Financial, and Nyca Partners were the top early-stage investors. MUFG Innovation Partners and NewView Capital were the top investors in late-stage rounds during the period.

Despite certain challenges, significant optimism exists for this region’s long-term growth. Factors such as the young population, large consumer base, reliance on informal financial and commercial systems, and government initiatives are expected to accelerate growth in this region.

The post Southeast Asia’s fintech funding hits a 3-year-low in H1 2024 appeared first on e27.

Dear reader,

The first half of 2024 witnessed a significant decline in fintech funding across Southeast Asia, reaching its lowest point in three years, as per a Tracxn report.

Total funding dropped to US$899 million, a 25% decrease from H1 2023. The macroeconomic and geopolitical challenges led to a sharp decline in seed and late-stage investments, with late-stage funding plummeting by 47% and seed-stage investments falling by 53%.

However, early-stage funding saw a 17% increase, indicating sustained investor interest in emerging ventures. Notably, investment tech surged by 666%, raising US$216 million, while banking tech funding grew by 59%.

Singapore remained the dominant hub, attracting over half of the total investments. Despite no fintech IPOs, the number of acquisitions rose to 16, reflecting ongoing industry consolidation.

Top investors like East Ventures and Y Combinator continue to play a crucial role.

Looking ahead, the region’s young population, extensive consumer base, and supportive government initiatives are poised to drive long-term fintech growth despite current setbacks.

Sainul,
Editor.

—

NEWS

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Ninja Van slashes more tech roles in second round of layoffs
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Indian social network Koo is shutting down as buyout talks collapse
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Meta plans to bring generative AI to metaverse games
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Bitcoin slides to four-month lows, ether sinks 8%
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China’s BYD opens EV factory in Thailand, first in Southeast Asia
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The post Ecosystem Roundup: Fintech investments down in H1 2024 | Ninja Van slashes more jobs | Koo is shutting down appeared first on e27.

Singapore-based SAFVR, a provider of workplace safety training for organisations using advanced technologies, has secured US$125,000 in pre-seed funding from global early-stage investor Antler.

The startup, which claims to have grown to US$1 million in revenue, will use the fresh capital to launch a new pilot programme, expand its customer base, and form strategic partnerships to accelerate product development and market penetration.

Also Read: Can co-working spaces change Malaysia’s work habits?

SAFVR offers mobile gamified training and advanced VR hazard simulations to engage employees and boost safety protocol retention.

By merging innovative technology with training methods, SAFVR empowers organisations to create safer work environments and reduce incidents. At the heart of its offering are immersive training modules designed to enhance knowledge retention and practical skills. The platform goes beyond just training; it integrates streamlined incident reporting through AI technology and provides detailed learning analytics.

The company’s EHS (environment, health, and safety) reporting and compliance platform ensures that organisations adhere to global standards, such as OHSAS 18001 and ISO 45001, which are benchmarks for occupational health and safety management systems.

Also Read: Navigating the future of work: How upskilling shapes tomorrow’s leaders

The startup has collaborated with prominent entities, such as the European Parliament, the Ministry of Transport of Germany, the Ministry of Health of Italy, and the Aditya Birla Group.

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Image Credit: SAFVR.

The post SAFVR bags funding from Antler to create safer work environment using AI, VR appeared first on e27.