On May 8, 2018, AngelCentral organised a panel discussion with some of the most experienced angel investors in Southeast Asia. Between them, they have invested in more than 70 investments over the past 40 years. Among the panelists were Virginia Cha, who teaches and supporting startup entrepreneurs in INSEAD, NUS, SIM and Platform E, Michael Blakely, who was named named “UK Angel Investor of the Year 2015” by the UK Business Angel Association, and Craig Dixon, the Entrepreneur in Residence and Program Manager for Muru-D, who has experience in the ecosystem as a founder, institutional investor, and Angel Investor.

Dorothy Yu, co-founder and COO of EngageRocket, a SAAS platform that analyses employee feedback real time, was the moderator for the session. Here are some notes I have taken from this insightful session.

What do angel investors look out for in startups and founders?

Blakely mentioned that he looks at the potential relationship that would result from an investment. He does not support founders who are just looking for money, and are unreceptive to external advice and support.  Blakely also believes that founders should be upfront about their problems as investors might be able to help fix them as well. He also looks at the founders’ ability to sell, particularly to potential customers.

Blakely added that he does not do extensive due diligence on startups, but chooses to do reference checks on founders instead. He would use social media tools such as Linkedin to find others that the founder(s) has worked with, instead of those referred to by them. This way, he will be able to get a more accurate view, as no-one will choose to indicate references that would give a negative recommendation!

Cha shared that she looks for people who are mentally strong. She raises the example of the story in The Martian, where the main character did not panic when he was stranded on Mars. Instead, he focused on ensuring the greatest probability of his survival. Similarly, she wants to invest in founders that are mentally strong such that when they face problems, they will not panic and take the necessary steps to solve them instead.

Also Read: China’s top 6 angel investors

Cha also added that she invests in people who are bipolar; individuals who have a big vision and dreams of what they want to achieve, while being rational in problem solving and making decisions at the same time. Dixon shared a similar view where he likes to invest in founders with the trait of “rational optimism”.

Dixon shared how he has received multiple funding requests from ex-corporates looking to raise more than three million dollars just to create a MVP. However, he prefers teams that chooses to create a MVP quickly and uses feedback from its initial base of users to reiterate and improve their product instead.

Different investment philosophies

An interesting thing to note was how all the angels had different investment philosophies. For example, while Cha mentioned that she would not invest in startups with a solo founder or a couple, Blakely mentioned that he invested in startups with both profiles recently!

Dixon mentioned that typically, he will only work with startups with an existing product and traction in the market. He also added that he does not invest in startups that outsource their technology development. Dixon added that he does not want to waste time finding the perfect valuation and aims to shorten negotiation periods, using SAFE notes to do so.

Blakely does not focus on finding the perfect valuation when investing into startups. Instead, he believes that startups should look to raise enough money to last them for 18 months. Blakely believes that startup founders should prepare to have about 20-30 per cent of their company to be owned by external investors. If it is <20 per cent, the startup would typically be considered as overvalued, posing further issues down the road.  If it is >30 per cent, it would make the startup un-investable for future investors. Similarly, Craig recounted a story where he agreed to invest in the company only after a pre-existing investor agreed to reduce his ownership from 35 to 15 per cent.

Lastly, Cha noted that while being an angel is about building a relationship between the founders and themselves, they also exist among angels as well. She finds that angels invest in startups with lead investors that they have worked with in previous deals, and vice versa.

Blakely shared that following experienced angels in the initial stages would help ease one’s journey, given the high amount of work required when starting out. For example, angels can consider joining syndicates, or finding strong lead investors on deals to leverage on their advice and support.

How much to invest and how much can you expect to earn as angel investors?

Blakely mentioned that the average exit for a startup takes about eight years; one of his first startup investments took 17 years before its exit! Michael expects only 50 per cent of his startups to make money in the long run. He added that angels should not invest what they cannot afford to lose, and consider the value of all their investments which have not exited as 0. From his personal experience, he noted that startups that raise multiple rounds tend to have higher failure rates that those which do not.

If you are looking to earn fast money as an angel investor, you are in for a rude awakening.

Dixon reiterated on having the mindset to only invest money that you can afford to lose. He added that angles should be patient, not expect to make money in the middle to long term, and that it is ok to make mistakes when starting out.

Cha shared that she has two types of investments; real estate which is generally safe, and angel investments which are usually risky. She recommends for angels to “mentally block (the money) away” once he/she writes the cheque. She shared that she puts about eight per cent of her net worth into angel investments, and she reinvests proceeds from all her exits back into startups.

Also read: The 11 smart ways to vet an investor before you seal the deal

Cha also added that depending on the nature of the deal, she invests between S$10,000 and S$200,000 per startup. For example, she would invest a higher amount when she is the lead investor, and invest smaller sums when she is a follower.

Why be an angel investor then?

With such high risks and high probability of failure, why be an angel investor then?

The panelists all agreed that being an angel investor should not just be about the money; it should also be about enjoying the ride. Blakely mentioned that one should only be an angel investor if he/she enjoys roller coaster rides because there are bound to be ups and downs.

Cha also noted that as long as as an angel continues to stay engaged and provides support to startups, they will be paid with more than just money. They include being exposed to cutting edge technologies, getting to know brilliant individuals, and having the opportunity to provide mentorship and advice.

A big thank you to the panelists for taking the time their busy schedules, and being so candid and open with their sharing. Many of the angels and startup founders that I spoke to found the session useful for their current roles. Overall, it was a meaningful and fruitful session for everyone involved!

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e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

This article was first published on May 18, 2024

 

The post I met with some of the biggest angel investors in Southeast Asia, and here are some insights I learned appeared first on e27.

As sustainable investing gains traction worldwide, Singaporean investors are also beginning to take notice. However, despite growing interest, there are significant barriers that need to be addressed to foster greater uptake of sustainable investments in the region.

According to a recent survey conducted by Standard Chartered Bank, a notable 37 per cent of respondents anticipate allocating more than 15 per cent of their investment portfolios to sustainable assets within the next two to three years. This marks a significant increase from the current 24 per cent of investors who have already embraced sustainable investment practices.

However, many investors in Singapore have yet to fully explore the potential of directing their investment dollars towards sustainable opportunities. But, Chen Yong Xiong, founder of Yongjing Family Office (YFO), contributes a unique perspective to the discussion on sustainable investments.

Through YFO’s interest in tech startups, dementia causes, charity work, and commitment to sustainability, they aim to play a constructive role in Singapore’s investment landscape. Thus, this untapped potential represents a significant opportunity for both investors and the broader society to drive positive change while also potentially reaping financial rewards.

Understanding sustainable investment

Have you ever thought about where your money goes when you invest it? Sustainable investment is all about making choices with your money that not only aim to make a profit but also care about important things like the environment, society, and how companies are managed. Mr. Xiong stated, “Invest in businesses that do good things for the world, not just make money”.

Investing sustainably involves making choices with your money that go beyond mere financial gain. It’s about supporting companies and projects that prioritise important issues like protecting the environment, promoting social equality, and ensuring good governance practices.

Also Read: The synergy of AI and DeFi: Shaping the future of finance

When investors engage in sustainable investment, they look beyond short-term returns. They consider factors such as how a company treats its employees, whether it’s taking steps to reduce its carbon footprint, and how transparent and ethical its management practices are. These considerations are often referred to as environmental, social, and governance (ESG) criteria.

Why does sustainable investment matter

Sustainable investment holds significant importance for Singapore as it reflects our commitment to building a greener, fairer, and more resilient society. When we choose to invest sustainably, we’re not just seeking financial returns; we’re actively supporting businesses and projects that address Singapore’s unique challenges, such as climate change, social inequality, and urban sustainability.

By directing our investments towards companies that prioritise environmental conservation and ethical governance, the society is contributing to the city-state’s efforts to create a more sustainable future for all Singaporeans.

Benefits of sustainable investing

• Long-term returns: Sustainable investments have the potential to deliver competitive financial returns over the long run, as they often align with resilient business models and emerging market trends.

• Risk management: By integrating Environmental, Social, and Governance (ESG) factors into investment decisions, investors can better identify and manage risks associated with issues such as climate change, supply chain disruptions, and regulatory changes. In this situation, family offices can better assess and mitigate investment risks.

• Social and environmental impact: Sustainable investments can address significant societal issues while promoting environmental conservation and ethical governance. For instance, YFO may invest in companies developing healthcare solutions for dementia, contributing to both societal well-being and environmental sustainability. This dual impact underscores the potential of sustainable investing to create positive change.

• Innovation and opportunity: Given the boom in technology over the recent year, investing in the technology sector also reflects recognition of the innovation potential within sustainable practices. Sustainable technologies not only address environmental and social challenges but also present lucrative investment opportunities. By supporting promising tech startups in Singapore, such family offices also contribute to fostering innovation and addressing pressing global issues.

Conclusion

In conclusion, investing in a better future through sustainable investment practices is not just a trend but a crucial strategy for shaping a more equitable society. As highlighted by Mr. Xiong, sustainable investing goes beyond mere profit-making; it’s about making choices that align with our values and contribute to positive change.

By incorporating environmental, social, and governance (ESG) considerations into investment decisions, investors can potentially achieve competitive financial returns while also mitigating risks and driving positive societal and environmental impacts.

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Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

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The Echelon X fireside chat titled ‘The Evolution of the Early Stage Investor: Tactics for Investors and Founders to Have a Productive Relationship to Drive Strong Outcomes’ delved into the minds of early-stage funders and founders, exploring the dynamics of their relationships.

The session offered an investor’s perspective on how these dynamics have changed over time in Southeast Asia (SEA) and how current relationships can be leveraged to build successful partnerships and long-term investments.

Moderated by Mohan Belani, Co-Founder and CEO of e27, the fireside chat featured Fandy Cendrajaya, Founding Partner of Kopital Ventures.

The conversation focused on the critical aspects of the investor-founder relationship, with particular emphasis on how these interactions have transformed over time. The discussion provided an investor’s perspective on the shifts in expectations, communication, and collaboration between the two parties. The session delved into the nuances of building trust, aligning goals, and navigating challenges together to create a strong, mutually beneficial partnership.

The fireside chat underscored the importance of a well-nurtured relationship between early-stage investors and founders in driving the success of startups in Southeast Asia. By embracing open communication, aligning goals, and remaining adaptable, both parties can build a strong foundation for a productive partnership.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

The post Echelon X: Fandy Cendrajaya of Kopital Ventures on building successful investor-founder relationships appeared first on e27.

e27 has been nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’ series, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we feature Digital Strategist Felicia Theodorus. With over 10 years of marketing experience, she brings expertise in Singapore and Indonesian business law. Felicia has managed corporate marketing, created content, and built brands, with customer relations skills that boost company profits.

Thoughts, goals, and journey

Theodorus’s journey in the fintech industry began with an interest in revolutionising financial services through technology. She was drawn to fintech’s potential to make transactions more accessible and efficient. Her early experiences with B2B and B2C payment solutions, as well as mobile payment apps, solidified her passion and deepened her understanding of the industry’s complexities and impact.

Looking ahead, she seeks to contribute to the development and implementation of cutting-edge payment technologies that bridge traditional financial services with modern digital solutions. Particularly interested in exploring new markets and expanding fintech’s reach to underserved communities, she is committed to ensuring financial technology is inclusive.

On a personal level, Theodorus focuses on deepening her knowledge of emerging trends such as blockchain and AI-driven payment systems, believing that staying ahead of the curve is essential in this rapidly evolving industry.

She remarked, “I’m committed to maintaining a balance between my professional ambitions and personal growth, dedicating time to continuous learning and wellness to ensure that I remain resilient and innovative in the years to come”.

The driving force

Theodorus recently joined our contributor community and has been an exceptionally active member since joining last month. Her motivation to join stems from a deep desire to share insights and contribute to the dynamic conversation around technology, innovation, and entrepreneurship in Asia.

Also Read: Jeffrey Liu: Transforming fintech and democratising access to capital

“e27 has always been a platform that I respect for its dedication to fostering a vibrant tech ecosystem, and I saw this as an opportunity to give back to a community that has given me so much,” Theodorus said. “Becoming a contributor allows me to share my experiences and perspectives, particularly in fintech and digital payments, with a broader audience. I’m passionate about helping startups and entrepreneurs navigate the challenges of scaling in a rapidly changing industry.”

She added, “I’m motivated by the opportunity to connect with like-minded professionals and thought leaders through e27. It’s an incredible platform for collaboration and exchange, and I’m excited to be part of a community that’s shaping the future of technology in the region.”

Advice for budding thought leaders

Theodorus advises aspiring thought leaders and contributors that the journey is rewarding but demands a commitment to clear and impactful communication. Her key advice includes:

• Understand your audience: Knowing your audience’s values, needs, and challenges is crucial. Tailor your message to resonate with them for greater relevance and engagement.
• Be clear and concise: Prioritise clarity by avoiding jargon and using straightforward language, making your message more accessible and memorable.
• Develop a unique voice: Stand out by offering a unique perspective. Authenticity, driven by your personality and experiences, is key to connecting with your audience.
• Stay informed and curious: Stay on top of industry trends and cultivate a habit of continuous learning. This ensures your content is enriched with fresh insights.
• Practice active listening: Listen actively to others, whether in conversations or while consuming content, and think about how you can add value to the discussion.
• Engage and interact: Thought leadership is about engagement as much as broadcasting ideas. Respond to feedback and participate in discussions to refine your ideas and build a stronger community.
• Be consistent: Regular contributions are vital for credibility. Develop a content schedule and stick to it to build trust with your audience.
• Embrace feedback and adapt: Be open to feedback and willing to evolve. Thought leadership involves continuous learning and adaptation, so don’t hesitate to refine your style or approach based on constructive criticism.

Juggling too many things?

Theodorus believes that balancing work, contributions, and personal life requires clear priorities and effective time management. She sets boundaries, uses productivity tools, and automates tasks to stay organised.

Also Read: Maggie Po: Balancing purpose and passion in the evolving startup ecosystem

“Incorporating daily learning and self-care routines helps me grow while maintaining well-being,” she said. “I also delegate when possible and stay flexible, adjusting plans as needed to keep everything in harmony. This approach ensures I can manage my responsibilities while fostering both personal and professional growth.”

Staying in the loop

Theodorus relies on a multifaceted approach to stay updated in the fast-paced fintech industry, combining continuous learning, networking, and active engagement with industry-specific resources.

She recommends the following resources for staying informed about fintech:

Websites:

• Finextra
• TechCrunch (fintech section)
• Fintech Futures
• Crowdfund Insider

Reports:

• Deloitte Insights (Fintech)
• CB Insights (Fintech Reports)
• World Economic Forum (Fintech)
• Accenture (Fintech)

These resources offer up-to-date news, trends, and in-depth analysis in the fintech industry.

“I’d like to emphasise the importance of staying curious and adaptable in the ever-evolving fintech landscape,” Theodorus concluded. “The industry is continuously changing, driven by technological advancements and shifting consumer expectations. Embrace a mindset of lifelong learning and be open to exploring new trends and innovations.”

Take a look at her articles here for more information and perspectives on her expertise.

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Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem.

The post Felicia Theodorus: Staying ahead in the ever-evolving fintech landscape appeared first on e27.

Dear reader,

The recent analysis of Southeast Asia’s tech startup ecosystem underscores the region’s emergence as a powerhouse for innovation and investment. Over the past five years, healthtech, edutech, and blockchain technology have dominated funding trends, reflecting the region’s dynamic economic landscape.

Healthtech’s rise, particularly post-pandemic, highlights a significant shift towards digital health solutions, driven by increased early-stage investments and the demand for efficient healthcare delivery. Similarly, edutech saw a pandemic-driven surge, though its momentum has slowed since 2021 as the demand for remote learning solutions decreased.

Blockchain Technology, despite a dip in 2023, remains resilient with a notable recovery in 2024, underscoring the sector’s adaptability and ongoing relevance. This resilience is mirrored in the steady growth of energytech and the resurgence of the gaming sector, both gaining traction with renewed investor interest.

Southeast Asia’s tech landscape continues to evolve, marked by significant contributions from these sectors. As the region navigates post-pandemic realities and leverages its strengths, it is well-positioned to solidify its status as a global hub for technological innovation and investment, attracting global attention to its burgeoning startup ecosystem.

Sainul
Editor.

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NEWS & VIEWS

Healthtech, edutech dominated SEA’s funding scene in past 5 years: Tracxn
Insurtech, Blockchain, energy tech and gaming also gained significant momentum in terms of funding in the last five years.

Ovo’s future at stake as Grab pushes Superbank in Indonesia
Grab’s integration of the digital bank Superbank with its app in Indonesia, means Ovo – the e-wallet that Grab has a 90% stake in – will have to compete against the digital bank for transaction volume in Grab’s platform.

EDB commits US$25M to drive corporate-startup collaborations in Singapore
Corporates will work with EDB’s Open Innovation Partners to connect with high-quality startups and partner with them to achieve meaningful commercial outcomes.

Singapore’s Hatcher+, Australia’s Mandalay team up for agtech investment
The partnership seeks to accelerate the growth of startups focusing on solutions from ‘farm-to-fork’; This includes on-farm technologies, farm gate solutions, supply chain innovations, and point-of-sale advancements.

Fleet-tracking startup TransTRACK raises US$12M to expans into Singapore, Malaysia
The investors include Eurazeo, Cocoon Capital, and AppWorks; TransTrack offers an AI- and IoT-powered fleet management system, transportation management system, and truck appointment system for logistics companies.

Philippines launches roadmap to boost Metro Manila’s startup ecosystem
The SCALE NCR initiative aims to map out 17 cities across the NCR to identify opportunities for collaboration and support for startups, guiding the creation of a five-year Startup Development Roadmap for the region.

Cyber risk management startup Protos Labs lands US$2.3M investment
The investors include A2D Ventures, BEENEXT, VinaCapital, and Artem Ventures; Protos Labs is an AI-driven platform that enables enterprises and insurers to reduce cyber risk exposure better and underwrite and price cyber risks.

SurplusLoop attracts funding to streamline surplus asset management process
Antler is the backer; SurplusLoop uses predictive analytics to connect a network of companies and accurately value assets like equipment and machinery.

VinFast strives for first-mover advantage at Middle East’s nascent EV market
VinFast’s selection of the Middle East as one of its key markets is intriguing, considering the region’s historical dependence on fossil fuels and a track record not typically associated with environmental consciousness.

Elon Musk, Tesla win dismissal of lawsuit claiming they rigged dogecoin
A federal lawsuit accuses them of defrauding investors by hyping the cryptocurrency dogecoin and conducting insider trading, causing billions of dollars of losses.

Naver launches crypto wallet in partnership with Chiliz
In South Korea, more than 97,000 online and offline merchants use Naver Pay, a payment service that started its life on Naver’s e-commerce platform Naver Shopping.

FEATURES & INTERVIEWS

Driving the future of EV charging: Beep’s Kristoffer Soh on scaling and innovating across Southeast Asia
‘The main challenges for Beep are building credibility and trust, especially when expanding beyond our home base in Singapore’.

Empowering female entrepreneurs: MADCash develops a ‘unique’ approach to micro-funding
MADCash combines zero per cent micro-funding with entrepreneurship development for the women enterpreneurs that it serves.

Echelon X: Nurturing the next unicorn in Indonesia’s tech ecosystem
The Echelon X fireside chat provided a comprehensive look into the dynamic landscape of Indonesia’s tech startup scene.

6Estates CEO Huanbo Luan: Public sector plays a key role in nurturing AI ecosystem in Singapore
Supportive policies that promote AI adoption, development, and funding are crucial to strengthening companies’ ability to retain talent.

Echelon X: Growing beyond borders – Scaling opportunities and challenges outside local markets
The Echelon X panel provided insights into the opportunities and challenges faced by local businesses expanding internationally.

Kyrim eyes B2C market expansion with new solutions by 2025
Founded in 2023, Indonesia-based Kyrim is a fintech service specialising in spend management for corporate finance teams.

Jeffrey Liu: Transforming fintech and democratising access to capital
Liu aimed to innovate a financing product that empowers high-growth companies without the burden of constant fundraising or extensive due diligence.

Echelon X: Driving growth through innovative marketing – Insights from Asia’s experts
The Echelon X panel provided a look into the latest trends and best practices in digital marketing, social media engagement, customer acquisition, and brand building.

AI leapfrog: Paving the way for an AI-first tech ecosystem in the Philippines
While investors have shown interest in the Philippines, startups still struggle to secure the funding to develop their technologies.

Echelon X: Unlocking the potential of the Philippines in Southeast Asia’s growth story
The Echelon X panel provided insights into the untapped potential of the Philippines as a key player in the region’s economic growth and innovation.

THOUGHT LEADERSHIP

Server sanctuaries or net-zero derailers? Southeast Asia’s data centre dilemma
Data centre operators must prioritise cooling systems that handle heavy computing and AI, while maintaining efficiency and safeguarding hardware.

How blockchain can revolutionise ticketing without disrupting the user experience
We now have blockchain platforms that are more efficient, cost-effective, and, crucially, better integrated with existing payment methods.

Debunking myths: The truth about distributed workforces
As we challenge these myths, it becomes evident that distributed workforces are not only viable but also advantageous for modern businesses.

Mastering the craft: 5 essential tips for elevating your B2B marketing game
By treating marketing as a craft, you not only improve your skills but also deepen your connection to the work you do.

A step-by-step guide to protecting your time and energy: The art of pre-qualification
Learn to protect your time and energy by pre-qualifying people and opportunities, setting boundaries, and trusting your instincts for a more balanced life.

The art of balancing speed and sustainability in a fast-paced world
Balancing speed with sustainability has taught me that real success comes from combining quick progress with thoughtful, long-term impact.

5 reasons why energy management is key to individual and organisational success
The ability to manage your energy effectively can dramatically impact personal performance, leadership effectiveness, and organisational success!.

The 3 ways younger generations are boosting financial inclusion
Millennials and Gen Z are reshaping finance with their digital-first mindset, advancing global financial inclusion.

FROM THE ARCHIVES

YouApp helps users find their match using AI and astrology
Singapore-based YouApp aims to differentiate its matching capabilities by matching people for work, play, and dates.

Need an angel to back your early-stage startup? Here are 5 types of investors you should look for
Given that the startup ecosystems are fairly less mature than the US or Europe, the angel investing community tends to be less sophisticated and comes in very interesting shapes and sizes.

The essentials of mapping a customer journey across digital assets
For a digital platform, optimising the customer journey is the key to extracting the maximum value out of them.

The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges
Despite the ongoing ‘funding winter’ faced by global startups, the trajectory of development for green fintech has shown strong momentum.

Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance
There are two points that stand out in 2024, starting with how AI will experience a shift from a “nice-to-have” to “must-have”.

E-motorcycle adoption in Indonesia: How to tap into this US$19.2B opportunity
In 2022, there were already 25,782 e-motorcycles in Indonesia, with more than 1,500 swapping stations available per Q1 2023.

Will digital banks take off in the Philippines?
Technology is now turning the Philippine’s unbanked population into a viable demographic with enormous potential for financial institutions.

AI in journalism: Thai media show a 95 per cent adaptation rate despite concerns about overreliance
A contrasting attitude was expressed by journalists in the Philippines with only 52 per cent have integrated AI into their work.

Infrastructure, talents are some of the challenges finance industry faces in adopting AI: Provenir
Despite increasing use cases, Provenir sees that there are challenges that the finance industry has to tackle to successfully adopt AI.

Using AI on e-commerce analytics: Data quality, availability remain critical obstacles
Data accuracy, cleanliness, and consistency are essential for building reliable AI models for e-commerce analytics.

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The post Ecosystem Roundup: Healthtech, edutech rule the roost in SEA | EDB pledges US$25M to boost corporate-startup collaborations appeared first on e27.

Cento Ventures, in a recent report, stated that though investment flow has slowed, the Philippines saw increased activity from local conglomerates and multiple capital-intensive business models.

“The Philippines market has seen a surge of activity from multiple local conglomerates and the emergence of multiple capital-intensive business models, mirroring Indonesia’s trajectory in 2017-2019. These developments, however, are meeting with the near absence of later-stage capital to power them further,” the report explained.

Investing in startups in the Philippines has become increasingly attractive due to the country’s rapidly growing economy and youthful, tech-savvy population. With one of the youngest populations in Southeast Asia, the Philippines offers a large pool of emerging talent eager to innovate and disrupt traditional industries. This demographic trend, combined with the country’s rising middle class, has led to a surge in consumer demand for digital services, creating fertile ground for startups across various sectors, including fintech, e-commerce, and health tech.

Moreover, the Philippine government’s supportive policies and initiatives to foster entrepreneurship have further bolstered investor confidence. Programmes such as the Philippine Startup Development Program and the Innovative Startup Act offer incentives such as tax breaks and grants to startups and their investors. Additionally, the country’s improving infrastructure, particularly internet connectivity and mobile penetration, provides a solid foundation for tech-driven businesses to thrive.

Also Read: A fundraising guide for your crypto project

The Philippines is also strategically positioned as a gateway to the larger Southeast Asian market. Investors recognise the advantage of backing startups that can expand beyond the Philippines into neighbouring countries, leveraging the regional similarities in culture and consumer behaviour.

This regional scalability, combined with the relatively lower operational costs in the Philippines compared to more established startup hubs like Singapore, makes investing in Filipino startups appealing.

Founders seizing opportunities in the Philippines

So how can startup founders in the Philippines tap into this opportunity and score promising collaborations with investors? What opportunities are available for them to seize?

Find the answers at Echelon Philippines 2024! Join us on September 26-27 at the SMX Convention Center Manila for the panel discussion “Navigating the Funding Maze: Exploring Startup Funding Options for Filipino Founders.”

In partnership with Brainsparks, this event will give Filipino founders a unique chance to hear from industry leaders about the various funding opportunities available in the local ecosystem. Joan Yao, Vice President of Kickstart Ventures, will moderate the panel, ensuring a well-rounded and engaging discussion.

Also Read: Do you need to rethink your startup fundraising strategy?

The panel features an impressive lineup of speakers, including Paulo Campos III, Founding Managing General Partner of Kaya Founders, John Aguilar, Founder and Host of The Final Pitch, and Ankit Upadhyay, Founder & General Partner of A2D Ventures.

These experts will share their experiences and insights, offering practical advice on navigating the complex funding landscape in the Philippines. Whether you’re a startup founder looking for your next funding round or simply interested in learning more about the startup ecosystem, this discussion is a must-attend event at Echelon Philippines 2024. Find out more about it here.

The post Mastering the funding maze: Unlocking financing pathways for founders in the Philippines appeared first on e27.

Singapore-based student-led VC fund Protégé Ventures (PV) has invested S$25,000 (US$19,000) in rocket propulsion and space launch startup Equatorial Space Systems (ESS).

Founded in 2017 by National University of Singapore alumni Simon Gwozdz and Praveen Ganapathi Perumal, ESS provides space access at reduced risk, cost, and environmental impact. In December 2020, the startup successfully launched a commercially built prototype rocket test flight from Malaysia, and it will begin orbital launch services in 2026.

Also Read: Protégé Ventures backs food order, delivery automation startup ZOLO

ESS’s patent-pending eco-friendly technology is a fuel formulation known as “HRF-1” that can eliminate up to 90 per cent of costs and 69 per cent of greenhouse gas emissions compared to traditional liquid propulsion systems. HRF-1 is manufactured in Singapore and is a safer option than other fuel formulations because of its non-explosive nature, which means it can be stored and transported safely.

In December 2020, ESS launched a Low Altitude Demonstrator prototype space rocket from Malaysia. In 2022, ESS created a rocket that was launched in Tamil Nadu by Indian aerospace company Space Zone India.

Established in 2017 by the Singapore Management University (SMU) ‘s Institute of Innovation & Entrepreneurship (IIE), Protégé Ventures is a nationwide training programme and student VC fund. The programme aims to nurture the next generation of venture capitalists and tech and entrepreneurial leaders, empowering youth to fund the future they believe in.

PV has invested over S$300,000 in 12 student startups since its launch. This is its 12th investment in a student-founded startup and the first investment from its second fund, PV Fund II.

Also Read: Protégé Ventures launches Fund II to support student-led startups in Singapore

Launched in September 2023, PV Fund II is a sector-agnostic fund with a S$500,000 corpus and was contributed by David Su, Founding Managing Partner of Matrix Partners China (MPCi).

Student-led startups who are interested in seeking investments from PV can visit here.

The post Protégé Ventures invests in rocket propulsion, space launch startup ESS appeared first on e27.

Echelon Philippines 2024 is a premier tech event in the Southeast Asian startup scene. Happening on September 26-27 at the SMX Convention Center Manila, this gathering is designed to bring together entrepreneurs, investors, and industry leaders to drive innovation and growth in the tech sector. With a robust lineup of speakers, workshops, and networking opportunities, the event aims to accelerate the development of local startups and enhance their visibility on the global stage.

The event provides a dynamic environment for knowledge exchange, where participants can engage in meaningful discussions and gain insights into the latest trends and challenges in the tech industry. Beyond just networking, Echelon Philippines 2024 offers opportunities for collaboration, allowing startups to connect with potential investors, mentors, and partners who can help accelerate their growth. The event also emphasises the importance of scaling, with a focus on strategies to take local innovations to a global audience. By fostering these connections, Echelon aims to position the Philippines as a leading hub for technology and entrepreneurship in Southeast Asia.

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Among the event’s highlights, a dynamic group of startups, corporates, and investors will also be exhibiting their groundbreaking solutions, showcasing the dynamic innovation within the Philippines. Get to know the first 12 exhibitors who will be showcasing their innovations at Echelon Philippines!

Meet 12 of the Echelon Philippines exhibitors

• Secuna

Secuna is the Philippines’ first and only vulnerability coordination platform, dedicated to bolstering the security infrastructure of organisations. By enabling cybersecurity professionals to collaborate and manually identify vulnerabilities, Secuna plays a crucial role in preventing potential threats before they can be exploited by malicious actors. This proactive approach helps businesses stay ahead of cyber threats, ensuring their systems and data remain secure.

• XFLO

XFLO is a B2B SaaS company specialising in AI-powered workflow automation, offering businesses a powerful tool to enhance efficiency. Their platform integrates large language models (LLMs) and third-party applications, allowing for the creation of customisable, automated workflows that streamline various processes. By automating data processing and other critical tasks, XFLO enables companies to increase productivity, reduce errors, and stay competitive in their respective industries.

• Brankas

Brankas provides cutting-edge open finance technology that facilitates digital transformation for financial institutions and tech companies across Southeast Asia. Their APIs support a wide range of financial services, including instant payments, credit scoring, and bank account opening, which are crucial for increasing financial inclusion, particularly in emerging markets. Brankas’ solutions empower businesses to launch new financial products quickly, contributing to greater accessibility and innovation in the finance sector.

• Founders Launchpad

Founders Launchpad is a dynamic early-stage startup accelerator that provides more than just funding—it offers comprehensive operational support and expert mentorship. By working closely with high-potential startups, the accelerator helps them overcome initial challenges and scale their businesses effectively. Founders Launchpad’s industry-agnostic approach means it nurtures innovation across a wide range of sectors, making it a vital player in the startup ecosystem.

• Plug and Play

Plug and Play is a global innovation platform with a mission to accelerate technological advancement by connecting startups with the resources they need to succeed. With a presence in over 50 locations worldwide, Plug and Play provides accelerator programs, corporate innovation services, and venture capital support. Their extensive network of corporate partners and investors has made them a cornerstone of the global startup ecosystem, helping companies scale from Silicon Valley to markets around the world.

• Zoho

Zoho Corporation is a global leader in software development, offering a suite of over 55 applications across key business functions such as sales, marketing, and customer support. Unlike many tech giants, Zoho operates without an ad-revenue model, focusing instead on privacy and user empowerment. With more than 100 million users worldwide, Zoho continues to revolutionise how businesses operate, providing tools that are both powerful and user-centric.

• Smile API

Smile API is a revolutionary platform that streamlines access to verified data sources, playing a critical role in industries where data accuracy and reliability are paramount. Their suite of APIs allows businesses to retrieve and validate user information in real time, significantly reducing the risk of fraud and enhancing decision-making processes. By integrating data from government databases, gig economy platforms, and more, Smile API provides a comprehensive solution for secure and efficient data management.

• InsightGenie

InsightGenie harnesses the power of AI, data analytics, and behavioural science to revolutionise decision-making processes across various industries. Their platform is designed to provide organisations with tailored, data-driven insights that enhance efficiency and effectiveness in operations. Whether in finance, healthcare, or other sectors, InsightGenie’s solutions are customised to meet the unique needs of each client, enabling smarter, more informed decisions that drive business success.

• BuildHub

BuildHub is an innovative online B2B construction marketplace that bridges the gap between hardware stores and suppliers in the Philippines. The platform streamlines the construction value chain by simplifying the processes of product canvassing, procurement, and delivery. By addressing challenges in fulfilment and financing, BuildHub facilitates smoother transactions and stronger connections within the construction industry, paving the way for more efficient and collaborative project management.

• A2D Ventures

A2D Ventures is committed to democratising venture capital across Southeast Asia, enabling broader access to early-stage startups to create positive social impact. By supporting job creation, promoting inclusion, and fostering sustainable growth, we empower individuals and communities. Our participation in Echelon Philippines aligns with our mission to support Filipino entrepreneurs and startups that embody these values, driving a more inclusive entrepreneurial landscape.

• KwikCare

KwikCare provides affordable, monthly-billed HMO plans tailored for individuals and small groups, ensuring accessible health coverage. Our comprehensive plans include check-ups, tests, hospitalisations, and emergency care, offering peace of mind at a competitive price. We aim to make essential healthcare services more accessible to a broader audience.

• Gateway of Asia

Gateway of Asia is dedicated to forming exceptional partnerships by meticulously addressing every detail essential for your business success. We offer tailored solutions in Accounting, Tax, Regulatory Compliance, Singapore Incorporation, and Corporate Secretarial Services, ensuring your business reaches its full potential. With us, you’re not just working with a service provider; you’re partnering with a team that shares your vision for extraordinary achievements.

Meet these 12 organisations at Echelon Philippines!

At Echelon Philippines, these exciting and diverse organisations will be joined by key leaders, visionary entrepreneurs, and innovative startups from across the region. They will converge for an action-packed two-day event on September 26-27 at Level 2, SMX Convention.

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Echelon Philippines 2024, hosted by e27 in partnership with Brainsparks, offers dedicated content stages, exhibitions, panel discussions, and much more — all designed to support and empower the regional tech startup ecosystem with practical insights through various knowledge-sharing activities.

Whether you’re looking to expand your expertise, connect with influential figures in the tech startup world, or present your groundbreaking ideas, Echelon Philippines 2024 presents an unmatched experience sure to give you and your company a boost. Secure your spot now on our official page and join us as a participant or an official partner. Together, we can shape the future and create a lasting impact.

Join us at Echelon Philippines 2024, where innovation knows no boundaries and the possibilities are limitless!

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In an interview with e27, Huanbo Luan, CEO and Founder of 6Estates, highlights a significant skill mismatch as one of the primary challenges faced by artificial intelligence (AI) leaders in Singapore.

“Rapid new technological advancements in recent years have contributed to a gap between the workforce’s skills and industry needs,” he notes.

As AI technology continues to evolve at a breakneck pace, the skills required by industries are shifting, often leaving professionals struggling to keep up. This gap poses a serious challenge to developing a robust talent pool in Singapore.

Another challenge identified by Luan is the highly competitive market for AI talent. He explains that top talent is often drawn to more attractive opportunities in other regions with more mature and well-funded ecosystems, such as the US and China. Additionally, Big Tech companies offer lucrative packages that can be difficult for local firms to match.

To address these challenges, Luan emphasised the importance of upskilling programmes. “We believe that a key part of the solution is to provide high-quality AI upskilling programmes, focusing on both technical and commercial elements, in collaboration with academia and industry,” he says.

Also Read: “Talents tend to overlook imperfect company cultures if salary meets their expectations”

Luan also stresses the need for companies to offer clear career pathways and opportunities for advancement within organisations. This would help retain top talent and motivate professionals to continue developing their skills.

Finally, Luan underscores the role of the public sector in fostering the growth of the ecosystem in Singapore. Supportive policies and regulations that promote AI adoption, development, and funding are crucial to strengthening companies’ ability to compensate and retain talent.

Building an AI career in Singapore

When asked about building a career in AI in Singapore, Luan stresses that it demands more than technical proficiency; it requires a blend of skills and qualities that align with the field’s fast-paced, innovation-driven nature.

A continuous learning mindset is one of the most crucial qualities of AI talent in Singapore. The landscape is rapidly changing, with significant developments happening more frequently than ever before.

“Where once we might have seen major advancements on a quarterly or yearly basis, today’s AI professionals must stay up to date with new breakthroughs that can occur almost monthly. This constant evolution means that AI talent must be committed to lifelong learning, always seeking to expand their knowledge and skillset to keep pace with the latest trends and technologies,” he explains.

Another essential quality is alertness to advancements in key markets, particularly the US and China. These countries are at the forefront of AI research and application, and innovations often emerge from these regions before spreading globally. This awareness allows them to identify cutting-edge technologies and applications that can be adapted and implemented locally, ensuring Singapore remains competitive globally.

Also Read: Infrastructure, talents are some of the challenges finance industry faces in adopting AI: Provenir

In addition to staying informed, AI professionals must focus on practical applications. The technology’s true value lies in its ability to solve real-world problems and transform processes within specific industries.

“In our experience as an Enterprise AI specialist in this region, customers aren’t interested in purchasing fundamental models; instead, they want business-ready, LLM/AI-powered applications.”

Lastly, strong interpersonal skills are essential for AI professionals in Singapore. Successful implementation requires collaboration across various sectors, including academia, industry, and government. Understanding the diverse needs and motivations of different stakeholders is crucial for effectively applying AI in ways that benefit all parties involved.

As advice to aspiring AI talents in Singapore, Luan advises them to continuously update their knowledge on both academic advancements in LLMs and the latest commercial applications of GenAI. “Pay attention to developments in Singapore and abroad.”

He also suggests talents to build a strong network by attending AI-related groups, events and conferences.

“This will improve your understanding of the landscape,” he closes. “Seek internships, projects, and real-world applications to build hands-on experience.”

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Image Credit: 6estates

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The healthtech, edutech, and blockchain verticals dominated Southeast Asia’s startup funding landscape in the past five years, according to Tracxn research.

The healthtech sector garnered US$1.5 billion in investments, contributing more than 87 per cent of the total funds raised to date in this space. Halodoc (which secured US$245 million), Doctor Anywhere (US$172.3 million), and HealthifyMe (US$105 million) led the pack.

After the COVID-19 pandemic, healthtech financing rose sharply, reaching a peak of US$515 million in 2023, primarily driven by an increase in early-stage investments, which attracted US$308 million.

Also Read: Funding into SEA’s female-led startups falls 42% to US$480.8M in 2023: Tracxn

Insurtech also gained significant momentum in the last five years, driven by ongoing digital transformation initiatives. The sector has amassed US$1.8 billion to date, 80 per cent of which (US$1.47 billion) came in the past five years. Key insurtech players driving this growth included Bolttech, Singlife, and Qoala.

The edutech sector also maintained a high overall contribution, accounting for 94.5 per cent of the total funding. However, there has been a sharp decline since 2021 as the demand for remote learning solutions waned.

The edutech vertical experienced its peak investments in 2021, with a total of US$0.98 billion raised. This aligns with global trends, as the pandemic accelerated the adoption of edutech solutions.

However, 66 per cent of the edutech funding raised in 2021 was thanks to a significant US$650 million funding round by Emeritus. Additionally, 88 per cent of the funding in 2021 was raised by just three companies: Emeritus, Ruangguru, and Lingoace. Notably, none of these companies have managed to raise equity funding post-2021.

Also Read: Startup funding in SEA falls 65% to US$4.3B in 2023: Tracxn

Blockchain technology in the region also witnessed its peak investments in 2022, with US$2.3 billion raised. Although funding declined sharply in 2023, this year so far has seen a notable recovery with US$463 million raised, already exceeding the total funding of 2023.

Amber Group led the blockchain sector, with US$628 million in funding, followed by Sky Mavis (US$311 million).

Other notable sectors that performed well in the past five years include energy tech and gaming.

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Image Credit: 123RF.

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