(L-R) Unabiz CCO Loic Barancourt, CTO Alexis Susset, co-founders Philippe Chiu and Henri Bong, and COO Rémi François
Singapore-based UnaBiz, a provider of customised IoT solutions, has announced a strategic investment from Frank Phuan in its pre-Series C funding round.
The investment follows the closing of the first tranche of UnaBiz’s pre-Series C funding round led by KDDI Global Innovation Fund 3 and Kyocera Communications System in August this year.
This latest investment sees Phuan, co-founder of Sunseap Group, one of Southeast Asia’s largest clean energy solution providers, joining UnaBiz’s Board of Directors. His expertise is expected to amplify UnaBiz’s impact on global ESG initiatives.
Over the past two years, UnaBiz claims to have achieved significant growth, including a more than 10x increase in recurring revenue and adding over 5 million new devices to its global 0G Network.
“With their core technology Sigfox, UnaBiz is one of the rare deep tech companies that drive significant ESG impact through their innovative IoT solutions, especially in the energy and utilities sector,” said Phuan. “Their solutions not only deliver sustainable economic and environmental value but also help accelerate their customers’ journey towards net zero.”
Phuan brings a wealth of expertise in renewable energy and sustainability to UnaBiz. As the co-founder of Sunseap and the co-chair of the Sustainability Alliance of multiple Trade & Associations in Singapore, he has been instrumental in driving solar energy adoption and sustainable development across the region.
Launched in 2016 by Henri Bong, UnaBiz aims to provide scalable, energy-efficient IoT solutions for firms in critical verticals, such as aerospace, facilities management, F&B, healthcare, logistics, supply chain and smart cities.
UnaBiz claims to have connected one million security devices over the past year. It is now investing in partnerships with major automobile and motorbike manufacturers to scale its telemetry and anti-jamming services globally.
In 2022, UnaBiz secured an undisclosed sum in fresh funding led by Japan’s SPARX Group, with participation from G K Goh Holdings and Optimal Investment. It also acquired French IoT firm Sigfox 0G in the same year.
Earlier, it bagged over US$25 million in an oversubscribed Series B round led by SPARX Group through its US$700 million Mirai Creation Fund II.
The shift towards remote hiring, skyrocketing during the pandemic, has shaped how companies operate from 2021 to late 2023. However, as some employers argue against the necessity of continued remote work, many remote hiring policies are on hold. Despite this, assessing the viability of remote hiring in 2024 remains crucial.
The question remains for 2024: Is hiring remote resources still a good choice for your business? Spoiler alert: it might be — or might not?
Pros: Every resource, everywhere, any price, all at once
Hiring without borders: The ultimate reason
Global talent pool
The idea of a “local” workforce is becoming quaint. As of 2024, savvy companies are breaking free from geographical constraints, turning their hiring strategies global. A US-based tech giant can now seamlessly integrate AI specialists from Europe and data analytics teams from Asia, each bringing distinct insights and skill sets that are rare or unavailable domestically. Consider the broadened perspectives and the fresh, innovative solutions these diverse teams contribute.
It has also been a game-changer for many, especially those with disabilities for whom daily commutes and non-inclusive office environments were significant hurdles. The flexibility of location-independent roles means companies can retain highly qualified individuals who might otherwise exit the workforce.
Strategic flexibility in hiring
The dynamics of local hiring are filled with challenges, particularly in terms of scalability and adaptability. Launching new products often necessitates tapping into new markets, which traditionally meant hiring locally and, consequently, facing the possibility of mass layoffs if market conditions shift or the company pivots its focus. This approach can tarnish a company’s reputation and morale.
In contrast, leveraging a global, contract-based workforce can provide the flexibility needed for businesses to scale operations up or down without the disruptive cycle of hiring and layoffs. Utilising hiring agencies or service providers streamlines this process, ensuring companies can adapt quickly to market changes or project completions with minimal disruption.
The financial upside
The freedom to choose between multiple hiring models—be it full-time remote employees, part-time consultants, or freelance experts on a project basis—provides a distinct advantage. This flexibility is precious for SMEs and startups, where resource allocation needs to be strategically managed to balance growth, sustainability, while still keeping everything budget-friendly.
Consider TrueCar, a Santa Monica-based company specialising in automotive pricing and digital retailing. In a strategic move, TrueCar reduced its physical office footprint by approximately two-thirds (and still aims to further downsize to just 4,000 square feet!) This reduction translates into substantial cost savings across various fronts, including office supplies, cleaning, and maintenance.
Companies. like TrueCar, find that the savings accrued from reduced physical office needs can be redirected towards enhancing their remote work infrastructure, resulting in better employee benefits, and a boost in overall operational efficiency.
Productivity booster
Flexible hours
Remote work allows employees to choose their most productive hours, increasing efficiency and output. Recent studies from 2023 and 2024 confirm that when workers control their schedules, their motivation and engagement soar. Consider the case of a software developer who discovers their peak productivity spikes at dawn or in the still of the night. Who are we to judge his “9 to 5”? According to Microsoft, 87 per cent of hybrid employees say they’re productive at work.
Strategic partnership
In the tech world, smart hiring means playing to your strengths—and sometimes, those of others. Partnering with specialists in niche areas can be a masterstroke for tech firms. It allows the internal team to stay focused on big-picture goals like expanding the market and engaging customers, while expert partners handle the nitty-gritty technical details.
This approach cuts down on time spent learning jargon and streamlines operations, letting everyone work at what they do best. It’s a win-win: the work gets done faster, innovation speeds up, and the company sharpens its competitive edge.
Employees matter: A touch on retention, satisfaction, and balance
Work-life balance
The quest for work-life balance reshapes modern employment, with workers and companies reaping the benefits. Employees who enjoy flexible schedules are not just happier—they’re also driving their firms toward higher profitability. Data from the Flex Index and Boston Consulting Group highlights this trend, showing that revenues at fully flexible firms surged by 21 per cent from 2020 to 2022—quadruple the growth rate of their less flexible counterparts.
Impact on mental health
The traditional “9 to 5 culture” often contributes to employee stress, with even minor annoyances. Ursula Mead, CEO and co-founder of InHerSight, points out that with such a “mental first” policy, companies now have a chance to treat their employees as whole individuals, committing to healthier work environments for everyone involved.
Furthermore, companies that adopt remote work often observe a decrease in employee burnout and turnover, which leads to a more stable and engaged workforce. The feedback from employees is clear—they feel less stressed and more satisfied with arrangements that respect their personal time and mental health.
Cons: The other side of the coin
Timezone is the real deal
Miscommunication
Without the nuances and immediate feedback of face-to-face interactions, the intent behind written words can be easily misinterpreted, leading to confusion and conflict within teams. With that being said, a report by FlexOS highlights that 30 per cent of employees experience frustration due to unclear communication from their superiors.
Time-zone differences
Another major hurdle in remote work environments is managing time zone differences, particularly with teams that span the globe. The challenge of aligning schedules is well illustrated by a scenario where a project manager in New York struggles to coordinate with developers in India and designers in Europe. These differences can result in significant delays and inefficiencies in project delivery.
To mitigate these issues, companies are finding it beneficial to ensure a reasonable overlap in working hours among team members. For example, Atlassian’s CTO, Rajeev Rajan, mentioned that on teams of around 150 engineers, ensuring a 4 to 6 hour overlap in schedules can drastically improve collaboration and efficiency.
Security is key
Remote work introduces additional security risks, such as data breaches and unauthorised access. Without the controlled security protocols of an office setting—such as secure networks and monitored access—home environments can become easy targets for data theft and cyber exploits.
Since the onset of COVID-19, the cyber threat landscape has evolved dramatically, seeing a whopping 238% spike in cyberattacks. Cybercriminals are quick to target the most vulnerable points, which now happen to be the numerous home offices set up in a rush during the pandemic. Add technologies like deepfakes into the mix, and the risk escalates; these tools can create eerily accurate impersonations of colleagues or executives, leading to sophisticated frauds that can deceive even the vigilant eye.
Managing remote performance
As we move deeper into 2024, organisations will be (as they should!) keeping tabs on employees in term of productivity and overall performance under flexible work conditions. Many companies are contemplating a return to office policies as a solution to close any gaps in employee engagement that have surfaced with remote work.
The data suggests a trend: when productivity dips, the knee-jerk reaction is often to bring everyone back onsite. However, this approach not only overlooks the benefits of flexible working but also needs to pay attention to potential strategies to enhance engagement without sacrificing the flexibility that employees value.
How do you know if your employees are actually working?
Yet, digital tools and management strategies can effectively replicate these benefits in a remote setting. Project management platforms like Asana, Trello, and Jira are instrumental in managers keeping a pulse on project timelines and individual contributions without the need for physical oversight. Beyond software solutions, implementing regular check-ins and thorough performance reviews helps maintain a dialogue between managers and team members, ensuring any concerns are addressed swiftly and performance stays on track.
People who are still doing it
So, back to the main concern: Is remote working a hit or miss?
It depends, one must say
That’s pretty much the playbook at Chicago-based law firm Chapman & Cutler. Led by Sarah Andeen, the head of library and research services, the firm operates on a flexible remote work policy tailored to the specific needs of different departments and client demands. This approach recognises that remote work isn’t a one-size-fits-all but rather based on each department’s needs and requirements.
The strategy leans heavily towards flexibility for small and medium-sized enterprises (SMEs) and startups. These smaller, often more agile entities find great value in off-shore hiring and outsourcing, allowing them to start small and scale quickly without the overhead of large office spaces.
Rob Sadow, co-founder of Flex Index, suggests that as more firms emerge and existing office leases expire, the propensity for adopting flexible work policies is likely to increase. This shift is especially pronounced among newer, smaller companies that can maneuver more nimbly than their larger counterparts.
Statistics reinforce this trend, noting that those in tech and information sectors—predominantly based in tech hubs like San Francisco and Los Angeles—are leading the charge in remote work, with these areas seeing the highest percentages of full-time remote workdays, at 46 per cent and 40 per cent as of November.
A miss
Adapting to remote work isn’t equally feasible for all sectors. Large corporations, and industries that prioritise stringent security measures often find that traditional, on-site work setups are more advantageous. According to Code42, 76 per cent of information security experts anticipate an increase in data loss due to insider events. This underscores a significant challenge: the mere presence of security tools doesn’t guarantee their use by employees.
This gap in compliance is particularly critical in sectors where security and resource control are crucial. The risks linked to remote work, such as potential data breaches and the lack of direct oversight, can indeed overshadow the potential benefits. For instance, Tech.co’s 2024 report reveals that 59 per cent of employees admitted to not using a VPN provided by their employers, highlighting a significant lapse in adopting prescribed security measures.
However, despite all the pros and cons listed throughout this discussion, remote working remains a nuanced issue. Whether it proves to be a hit or a miss depends largely on the specific characteristics of a firm—its priorities, industry, size, and how well remote strategies align with its operational criteria. It’s always wise to keep all options on the table. Firms should consider maintaining a blend of on-site employees while also tapping into offshore and remote resources.
This balanced approach allows organisations to leverage the best of both worlds, adapting dynamically to changing business needs and market conditions. Ultimately, the goal is to ensure that the chosen work arrangements serve to enhance, not hinder, your business objectives.
Either way, the aim is to make it a win for your organisation, turning flexibility into a strategic advantage rather than a struggle.
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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.
In marketing, the latest trends often lead us astray. Right now, AI is the oversold silver bullet. Whether it’s automating campaigns, creating content, or optimising customer journeys, AI has become the shiny new toy in the marketer’s toolbox.
While AI is powerful, it isn’t magic. Marketers who fully drink the AI Kool-Aid may end up overlooking the human elements that make their strategies effective.
So before we automate everything, let’s consider a more balanced approach in integrating AI into our marketing efforts.
Confusing automation with strategy
Marketers love automation because it promises to make our lives easier—automate your email campaigns, predict customer behaviour, and optimise ad spend. I’ve been in the same boat.
For instance, manually sending out hundreds of tailored pitches would usually take me about three days. With the help of an AI-powered tool, I was able to automate this process and finish in just a few hours.
But automation doesn’t equal strategy.
Many of us have been there: we set up an automated campaign, watch it churn out results, and pat ourselves on the back. But what happens when the numbers aren’t aligned with the brand’s goals?
AI tools can crunch data and suggest next steps, but they can’t understand your brand’s story, your audience’s pain points, or the cultural nuances. The danger is that automation can lead to a “set-it-and-forget-it” mentality, resulting in tone-deaf campaigns that lack human touch.
The AI-generated content myth
There’s a common misconception that AI can take over content creation entirely. Sure, AI tools can write emails, create blog posts, and even generate social media content, but does it hit the mark?
In marketing, storytelling is everything. It’s how we connect emotionally with audiences and differentiate our brands in a crowded marketplace. Instead of using AI to replace creative thinking, we should see it as a tool to enhance our creativity. Let the AI handle the repetitive stuff, but keep the heart of the content creation process human.
AI thrives on data. It processes massive amounts of information and can uncover trends that marketers might otherwise miss. But data is only as good as the person interpreting it. AI can point you to numbers, but it takes a human mind to find meaning in them.
I’ve seen AI-driven insights that looked promising on paper, but once you dig deeper, the real question remains: why? AI can tell you which posts performed best and which audiences are engaging, but it doesn’t understand the context or the emotional drivers behind those behaviours.
Setting unrealistic expectations for AI
There’s another issue here: unrealistic expectations. Some marketers are so enamoured with AI’s potential that they expect it to solve all their problems. But AI is a tool, not a miracle worker.
When we put AI on a pedestal, we risk overlooking what really drives successful marketing campaigns: creativity, empathy, and the ability to adapt to change. AI doesn’t understand your customer’s fears or aspirations—only humans do.
Building a smarter AI-powered strategy
So, should we ignore AI altogether? Absolutely not. AI is an invaluable tool for marketers when used wisely.
Start by understanding the specific problems AI can solve for your team. Automate where it makes sense, but keep the critical thinking and creative work in-house. Use AI to gain insights, but rely on your team’s expertise to make those insights actionable. Don’t let AI steer the ship—your brand’s vision should guide your strategy.
Ultimately, marketers should use AI to complement, not replace, the human elements of marketing. AI can help streamline processes, but it can never replicate the creativity, empathy, and adaptability that only human marketers can bring to the table.
After all, no algorithm can ever replace the power of genuine human connection.
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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.
I launched Statrys in 2018 to solve a very simple yet critical problem: offer a user-friendly and safe payment and FX platform for companies and entrepreneurs across Asia. In 2022, we were voted the best payments and collections service in Hong Kong.
I have learned a few things along the way that I am happy to share with you here.
Before you start
Welcome risk
Starting a business is a journey full of ups and downs. Risk is central to the experience.
If you want to start a business, you should be comfortable facing risk and responding to it in a productive way. See it as something that helps you focus rather than a stress factor threatening to undo your efforts. It is a friend, not a foe.
Study your business idea to death
You want to act on a ‘good’ idea, but not all ideas are good. Latching onto a ‘bad’ idea can result in failure spread out over time.
How do you know when an idea is good? Sit on the idea for a while and study it. Gauge the scope of the project, take time to identify the market, and understand if there is real demand for the product or service you want to offer.
If you’re launching in an industry you’re familiar with, you will have an edge. You can read the market faster and call on your expertise.
If you’re considering starting a business in an unfamiliar industry, be prepared to do the extra leg work, as I did with Statrys. I was previously a lawyer. I studied the fintech market to death and concluded I was on to something good.
Be surrounded
Team up with a business partner or associate to increase your chances of success. My best associate is my wife. She is someone I can share my daily experiences with, but also someone who supports me emotionally and with the financial risks I take.
If you don’t have a partner, look for someone who will complement you. Not a like-minded person but someone who has a different vision and background than you to help broaden your thinking and the business’ scope.
It’s all about timing
To ensure the timing is right to launch your business, evaluate the opportunity cost of launching. Ask yourself the following questions:
Is this the right time to get started?
How long is my runway to market launch? Do I have enough financial resources to last the first months?
Can I measure my burn rate?
How long can I last without receiving revenue?
When do I expect to start making revenue, and how much will it be?
If you take the time to evaluate the opportunity cost of launching, you will be better prepared for any bumps in the road ahead.
Choose your location
Asia has become an attractive region to start a new business, with Hong Kong and Singapore at the top of the list. Keep in mind both cities have high costs of living, which could impact your operating costs.
Hong Kong is the standout city for starting a business. It offers many advantages, including a vibrant business environment, an international financial hub, an attractive tax regime, and it acts as a gateway to the Chinese market.
Before launching, I recommend testing the market to see what kind of reaction you get. If you have not heard of a minimum viable product (MVP), now is the time to get acquainted.
An MVP is a minimalist, functional version of a product, interface, or service. It allows you to target your customer and learn about their experience quickly and inexpensively. You can make any necessary adjustments before taking a deeper plunge.
To raise or not raise funds?
It is not necessary to raise funds when you start a business. A lot of groundwork and research can be done with minimal out-of-pocket expenses.
Of course, fundraising is likely to accelerate the growth of your company. But that’s exactly what it should be used for acceleration. Not getting started. Get the foundations right before you expand.
Measure performance
Define your KPIs
Having clear Key Performance Indicators (KPIs) in place will help you to pilot and manage the evolution of your business.
Create KPIs that are measurable. To be measurable, you need data. For example, some measurable KPIs could be:
Customer satisfaction: are customers happy with your product or service? Ask them to rate your product or fill out a survey.
Customer lifetime value (CLV): CLV refers to the total income a business can expect from a customer. How many services does he or she use? How much is spent?
Automating operations: what processes can you automate, and how can you measure the improvement?
Data will help you to refine and evolve your KPIs over time, and it will hold you accountable.
Listen to weak signals
Pay attention to what I call ‘weak signals’. Listen to what is NOT being said around you. For example, navigation company TomTom identified a weak signal in an online UK forum where customers were complaining about connectivity issues. The company resolved the issue and improved its product development processes as a result.
Weak signals are a good source of data to guide you, and they can also help you realise when to leave a project. If you are NOT hearing the right things, be prepared to swallow your pride and move on.
Key takeaways
Be ready to take risks.
Make sure the time is right to launch.
Choose the best location.
Test, test, test.
With the basics in place, you are setting yourself up for success.
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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
The world is facing a looming data storage crisis, and Singapore can help to avert it.
In 2018, people watched 4.33 million videos on YouTube, sent 159 million emails and posted 49,000 photographs on Instagram every minute of the year, among other data uses.
At this rate, we will produce 418 zettabytes of data this year, according to the World Economic Forum, and even more in the future.
A single zettabyte is a trillion gigabytes.
Our current methods of storing all this data are not sustainable, for several reasons. Most digital archives are now stored on magnetic and optical data storage systems, but we will run out of the materials used to produce these in less than a century if that.
Meanwhile, the environmental and economic cost of server farms, which already make up three per cent of global electricity use and two per cent of greenhouse gas emissions, will soar.
While scientists have been investigating alternative methods of storing data, one stands out. DNA-based data storage, which stores information in manmade strands of DNA, has three key advantages.
It has extremely high data storage density, remains stable for hundreds of years, and requires very little power.
In 2019, scientists in Israel announced that they had developed a way to store more than 10 petabytes, or 10 million gigabytes, in a single gram of DNA. This means that, theoretically, all of YouTube’s data could be stored in a teaspoon of DNA.
Even though scientists have been working on DNA-based data storage methods for nearly a decade, however, major obstacles remain – and this is where Singapore can play a key role.
The key challenges
First, a quick explanation of how DNA-based data storage works. Each DNA molecule consists of linked components called nucleotides, which come in four types: guanine, cystosine, adenine and thymine, represented by the letters G, C, A and T.
To store information in DNA, digital data, which consists of 0s and 1s, is translated into sequences made up of the G, C, A and T letters.
Companies or other organisations then manufacture synthetic DNA molecules representing those translated sequences and store them. To retrieve the data, the synthetic DNA molecules are sequenced, and the output translated back into the original digital information.
While this method has been tried and tested, there are significant challenges. The costs of sequencing DNA has fallen dramatically in recent years. The cost of producing synthetic DNA molecules, however, is still prohibitively expensive.
Currently, it costs about US$5 million (S$6.7 million) to store just one gigabyte of data – a lot of money to store not even a full DVD movie!
Creating DNA molecules and sequencing them also involve biochemical and biophysical processes that are prone to errors. The process of writing DNA to produce the synthetic molecules, for example, is vulnerable to substitution, insertion and deletion errors.
The Singapore connection
In Singapore, several teams of researchers are hard at work on these problems.
At the National University of Singapore, Associate Professor Poh Chueh Loo, Associate Professor Yew Wen Shan, and their colleagues are working on more efficient ways to synthesise DNA sequences.
The Singapore University of Technology and Design’s Advanced Coding and Signal Processing Laboratory, where I am a visiting scholar, is another local nexus of research in the field.
The laboratory, under the leadership of Associate Professor Cai Kui, its founder, has been developing algorithms to prevent, detect and correct errors in writing and sequencing DNA.
We have found, for instance, that when the same nucleotide is repeated more than four times in a row, the probability of sequencing errors rises substantially. We have also described how to design algorithms to translate data into strands of nucleotides that meet various error-limiting conditions.
Furthermore, we calculated the maximum number of data bits that can be stored per nucleotide if a constraint is imposed to prevent too many repetitions of a nucleotide in a row.
Much more work needs to be done to make DNA-based data storage viable, including in areas such as how to restore lost data. In hard disk drives, data is stored in fixed places, so even if you lose some data, the fact that you know what is supposed to go where can help you to restore the missing pieces.
A pool of DNA, however, is like coffee in a pot, with free-floating molecules. This makes data restoration much more difficult.
Still, DNA-based data storage remains one of the most promising solutions to our impending data storage crisis. And Singapore, with its vibrant research sector and excellent expertise in the sciences, is well-positioned to be a leader in this research field. –
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As the startup tech ecosystem evolves, understanding the motivations and expectations of a younger workforce becomes crucial as they will be our future. This article explores how leaders can adapt to these changes, leveraging intergenerational collaboration and technology to drive both short-term productivity and long-term success.
Changing landscape in the tech and startup ecosystem
The startup tech ecosystem is undergoing a profound transformation, driven by the rapid pace of technological advancement and shifts in workforce demographics.
Characterised by its relatively young workforce, the sector is increasingly led by founders in their 30s and 40s who are adept at using modern tools and technologies to enhance sustainability and efficiency. This adoption is particularly appealing to younger employees, who not only value freedom and flexibility in the workplace but also want their work to be meaningful.
Countries like Singapore, with their ageing population, face unique challenges in maintaining a robust workforce. With a median age of 43 years, there is a growing need to attract young talent from neighbouring countries like Malaysia and Indonesia. These have larger youth populations and are eager to catch up with more mature and trend-setting markets like Singapore.
This import of talent brings its own challenges and opportunities: Workforces become diverse, with different expectations, cultural backgrounds, and communication styles. Another example of a diverse and evolving workforce landscape is Australia, where 30.7 percent of the population were born outside the country. In Singapore, non-residents make up 29 per cent of the population.
Motivations and expectations of the younger generation
The younger generation has elevated expectations for their work environment. They value the freedom to work from anywhere, though this flexibility can sometimes be complicated by time zone differences. In Singapore, new rules were introduced to make flexi-work more widely available. These become law as of December 2024 and are a result of the impact of past years and rising demand from the workforce.
From my personal experience working with the younger generation for the past recent five years, their preference is towards a more lateral decision-making process, where they can be part of the projects and processes from start to finish. Compensation expectations are high, often gravitating towards startups that have received significant funding.
From my observation, as these younger talents change jobs and move from a startup to a more corporate entity, they often find themselves in an environment that is characterised by more rigid and hierarchical structures, set processes, and a more conservative corporate culture.
For matured companies, this can result in talent retention challenges as the younger workforce seeks environments where they can continue to work freely ‘from anywhere’ and have flexible arrangements, yet still making impactful contributions without being limited by bureaucratic structures that may hinder their personal progress or goals.
Additionally, the younger workforce (late 20s and 30s) (also seen in my current community work) often embrace innovative technologies like generative AI (gen AI) with enthusiasm, leveraging it to streamline workflows, facilitate communication, and explore creative problem-solving approaches. Driven by a desire to do things differently, as well as their curiosity and comfort with new technologies, they are more likely to experiment with gen AI tools and incorporate them into their daily tasks.
The generational divide
In contrast, older generations may approach gen AI or new technologies with more caution, sometimes feeling overwhelmed by its complexity and potential to disrupt traditional job roles, if they are from a non-technical background. The generational gap in technology adoption can lead to challenges in creating a cohesive work environment, where not all employees are equally comfortable with the introduction of new tools.
What the workforce (late 40s onwards) do bring to the table, however, is experience and wisdom in many areas. The knowledge and skills they have accumulated over time, through both successes and failures, are invaluable for startups and tech companies, aiding them with proven strategies and compliances matters.
Leaders who rely solely on the less experienced, younger workforce for their indisputable drive for innovation and curiosity miss out on this wealth of experience and the know-how of the mature workforce. The art is to attract and retain talent of all ages and experience levels, enabling them to learn from each other and work together. The aim is a collaborative environment that instills accountability through action.
How to bridge the generational divide
Consequently, leaders must navigate and bridge these generational dynamics carefully to effectively manage an evolving workforce and embrace technology adoption like AI. Some key suggestions for leaders:
Foster fair communication and open-mindedness as a part of the corporate culture.
Focus on talent and the value people bring rather than age when hiring.
Allow for a cross-pollination of ideas and execution across the board.
Create opportunities for employees from different departments to interact and learn from each other during team building sessions.
Encourage modern technologies, like AI tools, and incorporate them into the work environments. This can be achieved through training and the actual implementation of use cases.
Set up multiple approaches for rewarding and recognising employee achievements, performance, and contributions.
Be open to change and the need to reevaluate team dynamics to reach a common goal.
Adapting to the changing landscape and meeting the expectations of a diverse workforce can yield significant benefits for businesses in both the short and long term.
In the short term, addressing immediate challenges — such as communication barriers and technological adaptation — can improve productivity and team cohesion.
In the long term, building a track record of inclusivity and encouraging innovation can enhance the company’s reputation, making it an attractive place for top talent and progressing towards the company mission.
Furthermore, fostering a healthy environment for different generations at different learning stages leads to personal growth for employees and a more agile, adaptable business. Those who successfully integrate a diverse perspective are better equipped to innovate and respond to market changes, ensuring sustained success for the organisation.
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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.
Funding the Future: Navigating Emerging Sectors and Investment Opportunities
Echelon Philippines 2024 hosted a panel discussion titled ‘Funding the Future: Navigating Emerging Sectors and Investment Opportunities’, shedding light on the growth potential of emerging sectors and strategies for startups to secure funding. The session brought together key investment leaders to discuss opportunities and challenges in the Philippine market.
Moderated by Adriel Yong, Head of Investments at Ascend Network, the panel featured Joseph de Leon, Founding Member and Lead Investor at Manila Angel Investors Network; Franco Varona, Managing Partner at Foxmont Capital Partners; and Rishab Malik Partner at Jungle Ventures.
The discussion covered sectors like agritech, B2B SaaS, and healthcare, emphasising their alignment with venture capital (VC) trends in the Philippines. Leon highlighted his experience in mergers and angel investments, stressing the critical role of founder resilience.
Varona shared Foxmont Capital’s focus on climate tech and agritech, noting the government’s supportive policies. He also predicted increased M&A activity with Japanese firms. Malik detailed Jungle Ventures’ approach to assessing founder-market fit and spotlighted a recent investment in blockchain-enabled remittance technology.
Panelists concurred on the immense potential of fintech, agritech, and climate tech, while also acknowledging the mental health challenges faced by founders. They emphasised the importance of robust founder-investor dynamics and adaptive strategies to attract funding in a competitive landscape.
The session underscored the Philippines as an emerging hub for innovation, backed by local and regional VC interest and an evolving entrepreneurial ecosystem.
Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.
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Missed Echelon Philippines this year? You can now catch the recorded sessions on demand, showcasing insights from leading startup experts, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia, all geared toward driving the next phase of growth. And stay tuned—more videos are coming soon!
Speak to bank leadership teams about the state of their current core technology stack, and you’ll likely find most of them agreeing that they’re struggling to keep up with the rapid shift to the digital-first and more seamless interactions that their customers and partners are expecting, along with the obvious realisation that replacing these technologies will be a complex process that won’t only involve significant risk, but also incur significant expense.
This is a real problem, as banks continue to invest money in maintaining the status quo while new regulations, rising digital expectations, and the shift towards open banking are pushing those same legacy systems to their limits.
Building on workarounds to tackle these changes has simply kicked the can (i.e., risk) down the road, making them harder and more expensive to overcome in the face of increasing digital transactions and rising customer expectations for more personalised interactions and connected offerings.
While banks in Southeast Asia still have some ways to go, there is progress in the right direction; findings from Publicis Sapient’s recent Global Banking Benchmark Study show that 37 per cent of bank leaders in Southeast Asia are aware that legacy technology is hindering their business transformation. Looking ahead, almost a third (29 per cent) of SEA bank leaders said their organisations are prioritising improving the customer experience as their main digital transformation goal.
Four steps to delivering core modernisation
Hesitance to upgrade legacy systems is understandable; it is all too easy for a CEO or CIO to lose their job by proposing a core system transformation and then failing to deliver it.
On the bright side, cloud technologies, coreless banking systems, and the surrounding ecosystem of Software-as-a-Service (SaaS) solutions have matured greatly in recent years. At the same time, taking an iterative approach toward core modernisation can significantly mitigate the risks of transformation.
How, then, should banks approach core modernisation? Here are four steps to consider, as well as pitfalls that can be avoided in the journey to delivering a modernisation program.
Step one: Have a clear and aligned ambition from the top to the bottom
Everyone involved in the process must believe in and commit to the process, from the board and all the way down to the on-ground teams doing the actual work. Alignment must be made on a clear case for change, the critical challenges that modernisation is intended to address, the benefits which these modern capabilities can unlock, and ultimately, the return on investment.
The right leaders must be selected for the program, whether sourced internally or through new hires. These leaders must be provided with the appropriate funding, resources, and decision-making power. Just as important is having clear alignment on the roadmap and timeline for program delivery, as well as a framework for both oversight and accountability.
Step two: Mobilise the program
This step is conceptually a simple one: Without the right preparation, modernisation programs cannot succeed, as this step is where you begin shaping what that desired operating model for a coreless bank should look like.
This starts by bringing on board the right combination of business, functional, and technology capabilities while ensuring that the right level of governance, as well as risk and compliance, is set up. The product roadmap must be clearly defined, confirming timelines for the launches and the technical proof points along the way to achieving the target state.
Designing the coreless architecture must be aligned with best-practice principles, while any vendors brought on board to make up any critical components must be properly assessed. Cloud infrastructure requirements must be confirmed as well.
During the mobilisation process, caution must be taken to avoid simply reproducing the functionality of the legacy core versus embracing the possibilities that coreless architecture brings.
Step three: Proving the platform through the first release
Critical to modernisation efforts is the need to quickly get to market; this helps to build belief in the new capabilities while enabling learning and continuous iteration through real-world experience, which can help improve subsequent releases. Failure to launch is usually the result of a combination of incorrect delivery models, missing go-live requirements, or taking on too much too soon.
Step four: Modernise progressively
Once your first release is out the door and the platform is given a chance to prove itself to key internal stakeholders as well as customers, it is then time to accelerate the transition from legacy onto the new modernised platform through the next series of iterative releases. By sequencing the migration appropriately in tranches, risk and disruption for customers can be minimised.
Focus on where the new capabilities can drive the most value for your customers and colleagues, prioritising new features based on value, speed, and quality metrics. At the same time, do not be afraid to drive continued exploration of new and differentiated approaches to enhance and expand the new coreless model, with which competitors will struggle to compete.
Modernisation for resiliency
Banks that cannot take steps to solve their core banking conundrum are doomed to fail; merely processing banking transactions will not be enough for them to compete.
The opportunity to modernise the core of your bank might be daunting, but banks can position themselves for success with the right modernisation roadmap, as well as the right partners who have experience in creating modern coreless architectures that can enable a more efficient banking model to drive growth by launching new product revenue streams, to build digital experiences that their customers are demanding, and to enhance operational efficiencies, in order to increase resiliency for the future.
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Venture studios and venture building are activities that have now existed for several decades with a proven record of success. In contrast, corporate venture building has historically faced scepticism in venture capital circles. It is often seen as a step removed from the agility of independent startups. The criticism is often around how corporate ventures lack the agility and risk tolerance of independent startups. They are perceived to be weighed down by internal bureaucracy and often misaligned with entrepreneurial incentives.
Furthermore, there is a perception that corporates struggle to attract seasoned entrepreneurial talent. Such talent may shy away from ventures perceived as too constrained by corporate priorities. They may also dislike organisations that are too focused on incremental gains rather than breakthrough innovation. Another challenge is balancing the short-term demands of meeting corporate financial targets with the long-term strategic nature of a venture capital investment.
However, in recent years more and more corporates have entered the venture building space, and that perception is changing. Among them is IMI, a publicly traded company in the United Kingdom with deep engineering roots. It has identified venture building as a critical lever for future growth in fast-evolving sectors and emerging technologies. IMI established the IMI Venture Studio in 2023 with an approach based on three powerful pillars. First, market-driven validation, second, world-class entrepreneurial talent, and third, leveraging the corporate advantage.
The first pillar, market-driven validation, ensures that every venture IMI pursues is grounded in market reality. When new ventures are built without proper market validation, they can be misaligned with customer needs. They may also face challenges in gaining commercial traction. Insufficient validation can result in ventures that burn through resources. They chase assumptions rather than solve customer problems, leading to wasted capital, lost time, and missed opportunities.
IMI overcomes this by starting with a rigorous validation process. This filters out concepts that will not gain traction with paying customers early on. In this last year alone, the company vetted over 50 business ideas, selecting only one to advance to the venture building phase. In this phase, they work with expert partners through EDB’s Corporate Venture Launchpad programme. These industry leaders have the best practices in the venture building space and a track record of bringing successful ventures to the market.
Coupled with this, they conduct in-depth analyses of market trends and perform comprehensive competitor benchmarking. They also gather valuable customer feedback through targeted outreach. Finally, they run pilot tests with potential customers to thoroughly validate market demand and ensure a strong problem-market fit. This disciplined approach gives IMI’s ventures solid foundations from which to build upon.
World-class talent
Investors know the impact of experienced entrepreneurs, and IMI makes this a priority. Research shows that second-time founders are twice as likely to deliver a successful exit compared to first-time founders, and it is easy to see why. These founders bring a playbook of tools that has been battle-hardened in their previous entrepreneurial experience. They bring in a network of established investors and mentors that can guide them and potentially become venture backers. They know how to attract top talent to the organization. But maybe most important, they understand the urgency of hitting critical milestones early. As a result, they maximise runway and accelerate toward both commercial and investment goals.
Why would these highly-qualified founders choose to build with IMI and run corporate-backed ventures? The answer is compelling: to ensure founders have the best possible chance of success, IMI provides dedicated resources tailored to their needs. This includes access to those same expert venture builders who guide the process. This enables Founders to benefit from a rigorous three-month sprint designed to validate their ideas. As a result, they develop a viable business model and go-to-market plan. During this sprint, critical startup assumptions such as customer pain points, willingness to pay, product prototyping, and financial modelling are thoroughly tested. By the end of this phase, founders are equipped with a clear and actionable roadmap to turn their ideas into scalable businesses.
IMI also offers seed capital commitment, starting them with rigorously validated ideas, and a mission that aligns with a greater impact than mere financial returns: IMI’s commitment of breakthrough engineering for a better world. Most critically, the venture starts its growth journey alongside a strong strategic partner from day one. This strategic partner is capable of offering market access and expertise.
Leveraging the corporate advantage
Corporate venture studios like IMI provide a springboard for founders, significantly increasing their chances of success in competitive markets. The company’s ventures have the opportunity to leverage IMI’s corporate advantage. They do this by tapping into IMI’s extensive availability of industry veterans and engineers with deep domain expertise. These experts have access to hundreds of customers across global markets, industries and applications through IMI’s long-established market reputation.
Moreover, IMI’s Venture Studio team offers a set of tools that strengthen the venture’s potential. This includes sourcing top co-founders through a curated pipeline of interdisciplinary talent. This year alone, they vetted over 500 potential candidates, building a powerful roster of talent ready to lead ventures.
IMI also delivers a best-in-class governance foundation. This includes legal structures, such as founder agreements and employee incentivization plans. This gives IMI-backed ventures a distinct edge over similar early-stage startups. Finally, their extensive network of partners and investors allows ventures to spend more time on rapid scaling. As a result, they spend less time fundraising.
IMI Venture Studio is passionate about fostering innovation and building ventures that shape the future of the energy and industrial sectors. If you are interested in partnering with IMI Venture Studio and its ventures, whether through collaboration, investment or in building new ventures together —we invite you to join us in this journey.
To explore partnership opportunities, reach out to the IMI Venture Studio team at general@imiventures.com. Let’s build new ventures for a better world together.
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This article is sponsored by IMI
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When I first began experiencing hair loss as a university student, I found myself frustrated with the lack of accessible, effective solutions for precise scalp analysis and personalised hair care. That personal struggle became the spark that led to the creation of Lushair Scalp Explorer, an AI-powered device that I hope will transform the way people care for their hair and scalp.
My journey started while I was still a student at Zhejiang University in China. Together with two classmates, I began working on an ambitious idea: developing a device that could offer highly accurate diagnostics and tailored recommendations for scalp health. Our academic backgrounds in biology, AI, and engineering came together perfectly for this project, but translating that knowledge into a working device was anything but simple.
After graduating, I moved to Singapore and launched Genpulse, the company behind Lushair. With the support of the Graduate Research Innovation Programme by NUS Enterprise, my team and I embarked on a two-year development process that was as challenging as it was rewarding.
One of our biggest hurdles was sourcing the right data to train our AI algorithms; a diverse set of scalp images was essential for accuracy. Partnering with Hangzhou First People’s Hospital and over 200 salons in China, we gathered more than 22,000 scalp images, which allowed us to fine-tune our technology to deliver results that align with clinical standards.
In April 2024, we launched Lushair Scalp Explorer in Singapore, and the response has been beyond our expectations. Within two months, we broke into the Asia-Pacific market, received orders from the United States, and achieved over US$10,000 in revenue.
Priced at US$129, the device is available online, allowing users to access a professional-grade scalp analysis experience from the comfort of home. Lushair analyses 16 different metrics in just four seconds, providing insights into follicle density, white hair ratio, damage state, and more.
But my vision for Genpulse extends beyond hair care. We’re now developing diagnostic tools and treatments for other skin conditions, including acne and eczema, with plans to expand into the North American market. I’m inspired by the idea that advanced diagnostics should be accessible to everyone, empowering individuals to take control of their skin health with tailored solutions.
This journey hasn’t been easy, but it’s taught me the power of perseverance and resilience. I often think of Elon Musk’s words, “When something is important enough, you do it even if the odds are not in your favour.” Despite the obstacles, I am committed to bringing Lushair to as many people as possible, inspiring other young innovators along the way.
With Lushair, I want to change the way people approach hair and skin care, making it accessible, personalised, and backed by science. This is just the beginning of what I hope will be a transformative journey for beauty and health care worldwide.
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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.
