Earlier this month, Malaysia-based Tapway officially launched SamurAI, a cutting-edge Vision AI platform designed to help organisations analyze video footage and images, transforming this data into actionable insights without coding.

The SamurAI platform comprises two main products: SamurAI Copilot and SamurAI Central. The technology can be applied across various industries, including policy compliance enforcement, product quality inspection in manufacturing, health, safety, and environment (HSE) monitoring, product counting in plantations, vehicle tracking, and restaurant hygiene compliance. The platform aims to streamline operations and enhance decision-making processes across various applications.

Tapway also announced its partnership with Japan-listed Asteria, a leading no-code software development company, in a significant move to expand its market reach. This collaboration aims to co-develop an AIoT Suite product bundle to enable users to implement comprehensive end-to-end solutions by integrating cameras and IoT sensors to trigger smart actions.

This marks a crucial step for Tapway as it seeks to penetrate new markets in Southeast Asia (SEA) and Japan, leveraging Asteria’s established presence in these regions.

Founded by CEO Lim Chee How, who previously worked with Airbus Group on technology and system integration projects, Tapway is run by a team of around 30 members. The company serves various industries, including retail, F&B, manufacturing, logistics, transportation, and smart cities, focusing on system integrators, IT managers, and operations managers.

Also Read: How Transparently.AI uses Artificial Intelligence to detect accounting manipulation, fraud

Although Tapway has been self-funded since its inception in 2015, the company plans to raise funding in late 2024 to capitalise on growing demand and momentum in the market.

On being an AI startup in SEA today

In an email interview with e27, Lim discusses the biggest challenges an AI startup in SEA faces today. We also touch upon major tech companies’ dominance in the global AI field.

As a SEA-based AI company, how does Tapway plan to deal with it?

“I strongly believe that AI startups in SEA should not be competing with the major tech companies to compete in the LLM space but to build products around models that have been trained by them,” Lim answers.

“Tapway, for one, has been working with Meta and Anthropic vision language model (VLM) to integrate into our processes, including image autolabel with prompts using VLM, image filtering and extraction from videos using VLM prompts as well as integration of the latest VLM models into the SamurAI Copilot inference software. I believe that the Gen AI tools created by the major tech companies are not a threat, but a boon to the AI industry.”

Lim also points out that the increasing popularity of AI presents significant opportunities for his company.

“As AI becomes more mainstream, businesses are more open to adopting AI-driven solutions. Tapway plans to seize this opportunity by quickly integrating the latest state-of-the-art Vision AI technology into the platform and making the product user-friendly and easy to use without any AI technical knowledge. Fundamentally, the Tapway vision is to bring Vision AI to everyone by making it affordable and easy to use,” Lim says.

Also Read: Will China lead the Artificial Intelligence game by 2030?

“Also, by focusing on specific industry use cases and demonstrating how SamurAI can address these specific needs in terms of operational efficiency, quality control, workforce productivity, and workplace safety, among the few, Tapway aims to position itself as a leading choice for organisations looking to integrate Vision AI into their operational processes.”

Coming soon for Tapway

Tapway is poised to introduce several groundbreaking innovations in the next 12 months, focusing on advancing Vision AI technology.

Key developments include the integration of an action recognition model training pipeline into SamurAI Central, enabling users to upload, label, and train models to analyse video content rather than static frames. Additionally, users can fine-tune their Vision Language Models (VLM) with their own datasets, and intelligent video search capabilities using natural language queries will be introduced.

Furthermore, Tapway plans to integrate with no-code IoT middleware platforms like Asteria, enabling a comprehensive Vision-Compliance-Action pipeline.

“Tapway’s major plan for 2024 and beyond includes expanding its market presence in Southeast Asia, enhancing its product features, and continuing to innovate in the Vision AI space. The company aims to strengthen its position as a leading no-code Vision AI platform provider and cater to a growing range of industries and applications,” Lim closes.

“Specific strategic initiatives may involve scaling operations, building new partnerships, and further developing the SamurAI platform to meet evolving customer needs.”

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Image Credit: Tapway

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Known for its vibrant culture and diverse economy, the bustling capital of Malaysia has become a magnet for tech startups and innovation hubs. With government support, a growing pool of talent, and state-of-the-art infrastructure, Kuala Lumpur is transforming into a premier destination for technology and entrepreneurship in Southeast Asia. Its dynamic ecosystem fosters collaboration and innovation, positioning it as a crucial player on the global tech stage.

A team from Quest Ventures visited the city to meet with partners and get the latest updates on the Malaysian ecosystem.

Stability and support: The key to Malaysia’s thriving startup ecosystem

Malaysia has experienced its share of economic fluctuations, but the advent of a new government has ushered in a period of increased stability and optimism, particularly for startups and ventures. This renewed stability has fostered a more conducive environment for entrepreneurial growth and investment.

With supportive policies, improved regulatory frameworks, and initiatives aimed at boosting innovation and attracting foreign investment, the Malaysian startup ecosystem is poised for significant growth. This positive shift encourages venture capitalists and entrepreneurs to explore and expand their ventures, contributing to the country’s economic development and positioning Malaysia as a burgeoning hub for technology and innovation in the region.

Acting as a crucial link between Malaysian startups and investors, MAVCAP leverages government funding to partner with private investors, thereby propelling early-stage venture capital funds to invest in startups. As the first to invest in the Malaysian startup ecosystem, MAVCAP sets a precedent that attracts further private investment, essential for nurturing a vibrant entrepreneurial landscape.

Additionally, MAVCAP independently follows the strategic direction set by the Malaysia Venture Capital Roadmap 2024-2030, which aims to establish Malaysia as an emerging venture capital hub in Southeast Asia through its three strategic pillars: Funding, Regulatory Reform, and Capacity Building. MAVCAP’s efforts align with these pillars, enhancing investor confidence and fostering a supportive regulatory environment.

The Malaysia VC Roadmap and the KL20 Action Plan are pivotal initiatives aimed at transforming Kuala Lumpur into a leading technology and innovation hub. The Malaysia VC Roadmap outlines the strategic framework to bolster the venture capital ecosystem, providing necessary funding and support for startups and entrepreneurs. This roadmap focuses on fostering innovation, improving regulatory frameworks, and enhancing investor confidence.

Complementing this, the KL20 Action Plan sets a visionary goal for Kuala Lumpur to become a top-20 global startup ecosystem by 2025. This plan includes initiatives to improve infrastructure, attract global talent, and create a conducive environment for tech enterprises. Together, these efforts are driving Kuala Lumpur’s emergence as the Silicon Valley of Malaysia, promoting sustainable growth and technological advancement in the region.

Pioneering sustainable investment practices in Malaysia

MAVCAP demonstrates its commitment to sustainable and responsible investing through the development of the Environmental, Social, and Governance (ESG) Investment Tool in collaboration with Fuller Academy. This tool aids Malaysian VCs in incorporating ESG considerations into their investment decisions.

In addition, MAVCAP’s impact programs, such as the 30 per cent Club Malaysia, focus on increasing gender diversity by facilitating at least 30 per cent women representation on the boards of companies listed on Bursa Malaysia.

Also Read: Navigating the AI maze in Malaysia’s martech: Striking a balance between efficiency and ethics

In the same vein, other companies are actively advancing their ESG efforts to foster sustainable investment practices in Malaysia. In line with national initiatives like the Green Investment Tax Allowance, Green Technology Financing Scheme, and the Sustainable and Responsible Investment (SRI) Taxonomy, Artem Ventures ensures a robust ESG framework within its operations.

Artem Ventures differentiates itself by introducing ESG frameworks to their startups through workshops, helping them select Sustainable Development Goals (SDGs) and agree on meaningful metrics. They prioritise early ESG integration by asking pertinent questions from the outset, ensuring that ESG considerations are ingrained in the investment process and tracked effectively. By tracking monthly data points from portfolio companies and tailoring their approach based on practical feedback, Artem Ventures is conditioning the ecosystem to prioritise ESG, mirroring MAVCAP’s efforts.

Adding to this robust ESG landscape is ERTH, one of our portfolio companies, dedicated to responsible e-waste management in Malaysia. Despite incurring logistics and marketing costs, ERTH maintains healthy profit margins by leveraging B2B channels to scale, even if it means sacrificing a third of the proceeds. The company collects Grade A, B, and C e-waste, optimising the selling price for Grade C materials and negotiating a 60 per cent increase in its value.

Ensuring that all materials are properly licensed eliminates the risk of improper recycling. Despite the slow rate of 5G adoption and the concentration of e-waste in the manufacturing sector, ERTH effectively addresses the scattered household e-waste by accepting all types and sorting them later. The high barrier to entry in the e-waste recycling industry allows ERTH to maintain a competitive edge, as it takes considerable time for new competitors to reach its level of operation. Through these efforts, ERTH plays a crucial role in promoting environmental sustainability and responsible e-waste management in Malaysia.

Together, MAVCAP, Artem Ventures, and ERTH exemplify the multifaceted approach Malaysia is taking to enhance its technology and innovation ecosystem while prioritising sustainability. Their combined efforts not only foster economic growth and innovation but also ensure that ESG considerations are integral to the development of Malaysia’s burgeoning startup landscape.

Thriving through adversity: Resilience and innovation amid the pandemic

However, it has not always been smooth sailing for all. The COVID-19 pandemic brought about unprecedented challenges, forcing many businesses to shut down. Yet, just as diamonds form under pressure, some companies managed to not only survive but thrive during these difficult times. PostCo, one of our portfolio companies, is a prime example of such resilience. As the pandemic shifted consumer behaviours and increased reliance on digital and contactless services, PostCo quickly adapted its business model to meet these new demands.

By leveraging its strengths in logistics and technology, the company expanded its services to provide more flexible and convenient parcel collection and return solutions. This ability to innovate and pivot in response to market changes allowed PostCo to grow and find new opportunities amid the crisis, demonstrating that even in the face of adversity, businesses with agility and vision can emerge stronger.

Today, PostCo offers a compelling value proposition by streamlining the product return process through its innovative platform. PostCo eliminates the hassle of having to email retailers to exchange products by providing a Shopify-like plug-in, allowing seamless returns without involving the retailer directly. With over 100,000 drop-off points in the UK and Australia, PostCo is now looking to expand into Asia, where the market is heavily oriented toward marketplaces.

By focusing deeply on the reselling aspect, PostCo has strategically positioned itself to prove that returns can be beneficial. The aim is to change the perception of returns from being a burden to an opportunity, demonstrating that with the right approach, returns can indeed be embraced and profitable.

Digitalisation in Malaysia: Transforming the economic landscape

Digitalisation in Malaysia is rapidly transforming the country’s economic landscape, driving innovation, efficiency, and growth across multiple sectors. PitchIN plays a crucial role in this digital transformation by providing innovative crowdfunding solutions that leverage digital platforms to democratise access to capital. Initially developed by Watchtower & Friends, an accelerator that identified a gap in the market, pitchIN has since become Malaysia’s largest equity crowdfunding (ECF) platform.

Also Read: Why does cybersecurity training for employees in Malaysia matter and how to go about it?

They offer a range of services including equity crowdfunding, a secondary market for trading shares of previously funded companies, and Token Crowdfunding (TCF). TCF, which has emerged with the rise of digitalisation, allows companies to issue utility tokens, asset-backed tokens, and tokenised securities, providing various rights to holders such as revenue sharing and exclusive access to services. This digital fundraising method aligns with the broader trend of integrating blockchain and fintech innovations into the financial ecosystem, streamlining investment processes and broadening the scope of potential investors.

PitchIN also works with ecosystem partners such as agencies, universities, venture capitals, accelerators, and industry anchors to onboard more investors and lead deals. The introduction of the PSTX secondary market, designed to facilitate easier entry and exit from ECF deals, and the ongoing efforts to integrate traditional companies and investors into the Web3 ecosystem, further illustrate pitchIN’s commitment to enhancing Malaysia’s digital economy. Their efforts are supported by ECF tax incentives and a vision for PSTX to become the secondary market for all private companies in Malaysia.

A Place Where’s (APW) evolution from a traditional printing factory into a vibrant collaborative event space is another testament to the impact of digitalisation. By embracing the digital shift, APW has transformed itself into a hub for creative and entrepreneurial activities, providing a versatile venue for events, co-working, and community engagement.

This adaptive reuse of industrial space reflects a broader trend in Malaysia where businesses are reimagining their operations and business models to align with digital opportunities. APW’s transformation underscores the importance of flexibility and innovation in the digital age, showcasing how traditional industries can thrive by integrating digital strategies.

Digitalisation also extends to various other sectors in Malaysia, including finance, healthcare, education, and retail. The adoption of e-commerce, digital payment systems, telehealth services, and online learning platforms has surged, driven by both consumer demand and the necessity brought about by the COVID-19 pandemic. This is further fuelled by the Malaysian government’s support for digitalisation as evidenced through various policies and incentives aimed at encouraging businesses to adopt digital technologies.

Tax incentives for investments in technology, grants for digitalisation projects, and support for digital startups are just some of the measures in place to foster a robust digital economy. Together these initiatives drive profound changes across the economy, fostering innovation and growth while creating new opportunities for businesses and investors. Efforts by pitchIN and APW contribute to a dynamic and forward-thinking entrepreneurial ecosystem, which bode well for Malaysia to become a leading digital economy in the region.

The Malaysian startup ecosystem is on a promising trajectory, driven by innovative initiatives, robust support structures, and a growing culture of entrepreneurship. Kuala Lumpur, with its vibrant and dynamic environment, stands at the forefront of this transformation, attracting both local and international investors.

As the digital wave spreads, other parts of Malaysia are also expected to experience significant growth in the coming years, creating a fertile ground for new ventures. For investors seeking opportunities in a burgeoning market, Malaysia represents a compelling destination with immense potential and a bright future.

This article is co-authored by Jazlynn Quek, Summer Analyst at Quest Ventures. 

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The Echelon X fireside chat titled ‘From the Pandemic to the Present: utu’s Strategies for Growth in the Travel Industry’ offered a deep dive into how utu, a disruptive player in the travel industry, navigated the challenges presented by the COVID-19 pandemic. The session explored utu’s innovative strategies for sustaining growth, enhancing customer experiences, and driving business expansion amidst unprecedented disruptions.

Moderated by Jeremy Au, Investor and Podcaster at BRAVESEA.com, the fireside chat featured Ameer Jumabhoy, Co-Founder of utu.

The discussion highlighted utu’s resilience and adaptability in the face of the pandemic, showcasing how the company capitalised on emerging opportunities in the post-pandemic world. Jumabhoy shared insights into the innovative strategies utu employed to sustain growth, including pivoting business models, leveraging technology to enhance customer experiences, and identifying new market opportunities.

The session provided valuable lessons on how to thrive in a rapidly changing landscape and offered practical advice for businesses looking to adapt and grow in uncertain times.

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Malaysia’s Cradle Fund has announced a strategic collaboration with state-owned impact investor VentureTECH to foster structured discussions between fund providers across government and private sectors.

This partnership is a key initiative under the Ministry of Science, Technology and Innovation’s (MOSTI) Fund Funnel program, which is designed to address the lack of continuous financial coverage from early-stage to later-stage funders.

Also Read: A startup’s roadmap to success in Malaysia: Key government agencies and their support systems

As highlighted in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, this gap has been recognized as a significant barrier to growth.

Under Intervention 2 of SUPER, there is a pressing need to remodel the investment attraction framework to enhance its efficiency and attract higher-quality investments. The collaboration between Cradle and VentureTECH addresses this by establishing a more coherent and integrated funding pathway for startups, ensuring a smoother transition from early to later-stage investments.

Minister of MOSTI YB Tuan Chang Lih Kang commented: “The Fund Funnel partnership is a strategic move to streamline the funding process within our startup ecosystem, supporting the aspirations under the KL20 Action Plan. By fostering closer and stronger collaboration between early and later-stage fund providers, we facilitate a smoother funding journey for our startups.”

“Aligned with the Ekonomi MADANI framework, this initiative is crucial in ensuring that our innovative startups receive the support they need to scale and succeed, ultimately driving Malaysia’s growth as a global innovation hub,” he added.

Norman Matthieu Vanhaecke, Group CEO of Cradle, stated: “By combining Cradle’s expertise in early-stage funding with VentureTECH’s focus on technology-driven investments, we are creating a more cohesive and comprehensive support system for startups. This collaboration will enable us to better identify and nurture high-potential startups, ensuring they have the resources and guidance needed to achieve long-term success.”

Ahmad Redzuan Sidek, CEO of VentureTECH, said: “The partnership not only aligns with our mission to empower technology-driven companies but also enhances the overall investment landscape. Our focus is to ensure these companies can access the right funding at the right time, ultimately driving high-potential startups towards sustainable growth and equipping them with the necessary resources to thrive in a competitive global market.”

Also Read: pitchIN to support startups by students, lecturers of Malaysia university UMT

The collaboration between Cradle and VentureTECH was formally signed with the
exchange of the partnership documents at the Malaysia Commercialisation Year (MCY)
Summit 2024 recently. Deputy Minister of Science, Technology and Innovation, YB Dato’ Haji Mohammad Yusof Bin Apdal, attended.

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Singapore-based Nexus Ocean AI, which delivers genAI-native business efficiency solutions to address the unique challenges of the maritime sector, has secured US$400,000 in an angel investment from London-based Tradeworks.vc.

This marks Tradeworks. vc’s 16th investment in supply chain & logistics technology startups in just over three years.

Also Read: Using AI to enhance maritime safety, Nautisense is looking to expand into the UK, Scandinavia

Nexus Ocean AI aims to eliminate “grunt work” by creating genAI personas, augmented by a Maritime Language Model, which interacts with knowledge graphs spanning the customer’s internal and external data silos, including mailboxes.

With Nexus Ocean AI, customers and their employees have all the organization’s knowledge and experience at their fingertips. They can then spend their time adding real value, like preventing accidents, focusing on customers, reducing costs, and ensuring business continuity.

Nexus Ocean’s genAI is deployed and trained on the customer’s own V-Net, providing unprecedented data privacy and security by design.

Tradeworks.vc is a small, specialized, and selective VC that invests in startups that develop and employ technology to solve big problems in global B2B supply chain & logistics markets.

Also Read: Studio 30 50 unveils maritime-tech startups joining its latest cohort

“There’s a huge talent gap in shipping, and the people we manage to attract and retain end up drowning in grunt work. It’s not uncommon to have to read over 1,000 emails per day to ensure no important information is missed. With Nexus Ocean, emails are summarised, prioritised, and replies are drafted, in multiple languages even. Complex processes like crew changes, maintenance plans and drydockings can be automated. Accidents can be managed correctly without delay, and the time saved spent on preventing future accidents. This single solution just solves so many big problems, and the customers love it,” said Niklas Holck, founder and CEO of Tradeworks.vc.

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Image Credit: 123RF.

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The Philippines has emerged as a compelling destination for startup founders in Southeast Asia (SEA), offering a blend of strategic advantages that set it apart from regional powerhouses such as Singapore and Indonesia.

From cost-effective operations to a dynamic pool of young talent, the Philippines presents an attractive alternative for entrepreneurs seeking to establish and scale their ventures. If you are still on the fence about building your startup in the Philippines, here are reasons why the archipelago should be on the radar of any startup founder considering where to base their company in SEA.

Competitive labour costs and a young talent pool

One of the most significant advantages the Philippines offers over Singapore and Indonesia is its cost-effectiveness, particularly regarding wages. Labour costs in the Philippines are significantly lower than in Singapore, where the high cost of living drives up salaries. While Singapore offers a highly developed infrastructure and a stable business environment, the expense of maintaining a workforce there can be prohibitive for startups, especially in the early stages.

In contrast, the Philippines provides a more affordable alternative without compromising on talent. The country has a young and growing workforce, with a median age of around 25.7 years in 2024. This young demographic is tech-savvy, adaptable, and increasingly well-educated, thanks to a strong emphasis on higher education in fields such as engineering, IT, and business management.

Also Read: Are traditional conglomerates in the Philippines finally embracing corporate investing?

While Indonesia also has a large and youthful population, the Philippines stands out for its high proficiency in English, the business world’s lingua franca. This linguistic advantage makes it easier for startups in the Philippines to operate globally and tap into international markets.

Market readiness and economic growth

The Philippines’ market readiness is another compelling reason for startups to consider establishing themselves in the country. The Philippines is experiencing rapid economic growth, with a GDP growth rate that has consistently outpaced many of its regional neighbours. This growth is driven in part by a burgeoning middle class that is increasingly embracing digital technologies and services.

With a population of over 115 million people, the Philippines represents a sizable domestic market. The country’s middle class is expanding, with increasing purchasing power and a growing appetite for new products and services. This demographic shift presents a wealth of opportunities for startups, particularly those in the tech, fintech, and e-commerce sectors, which are poised to meet the needs of a young, connected, and digitally literate population.

In comparison, while Indonesia also offers a large market, its regulatory environment can be challenging to navigate, particularly for foreign startups. Singapore, on the other hand, though business-friendly, has a smaller population and market size, which can limit growth potential for startups focused on consumer-oriented products.

Access to local and global investors

Another key factor that makes the Philippines an attractive destination for startups is the growing availability of both local and global investors. The country’s startup ecosystem has been gaining traction, with increasing interest from venture capitalists, angel investors, and private equity firms. In recent years, the Philippines has seen a surge in startup incubators, accelerators, and coworking spaces, creating a vibrant environment for innovation and entrepreneurship.

Also Read: Uncovering deeper opportunities for fintech investment and venture creation in the Philippines

The Philippine government has also been actively supporting the startup ecosystem through various initiatives, such as the Innovative Startup Act, which provides tax breaks, grants, and other forms of assistance to startups. This supportive environment has helped attract global investors who are keen to tap into the country’s growth potential.

While Singapore has long been a hub for venture capital in Southeast Asia, the high costs associated with operating there can limit returns for investors, particularly in the early stages of a startup’s growth. Indonesia, with its large market, also attracts considerable investment, but the challenges of scaling in a diverse and geographically dispersed country can be daunting.

Exploring opportunities at Echelon Philippines

Join us at Echelon Philippines 2024 for an insightful panel discussion titled “Why Philippines: The Advantages of Launching and Setting Up Your Business.”

Moderated by Ranvir Singhsachakul, Director of Marketing and Business Development at MessageSpring, this session will delve into the unique opportunities and competitive advantages that the Philippines offers to entrepreneurs and businesses. Our distinguished panel includes Jay Fajardo, Executive Director of Ideaspace; Ron Baetiong, Founder and CEO of Podcast Network Asia; Bela Gupta D’Souza, Founder of edamama; and Afansiy Petrov, Business Development Manager at inDrive.

Presented in partnership with Brainsparks, Echelon Philippines 2024 is a groundbreaking event that unites the collective expertise of the Philippines and Southeast Asia startup leaders, visionary entrepreneurs and forward thinking investors to drive the next phase of growth.

Don’t miss this chance to gain valuable insights from industry leaders on why the Philippines is the ideal destination for your business venture.

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Cyber threats are on the rise across Asia Pacific, and the potential financial damage keeps growing every year. According to a staggering forecast from the Word Economic Forum, annual cybercrime costs are set to balloon from US$8.4 trillion globally to over US$23 trillion in 2027. And by many accounts, the Asia Pacific region is one of those being hit the hardest. APAC is even being labelled the “new Ground Zero for cybercrime”.

It’s clear businesses today need to take cybersecurity seriously. But where do you start when defending against a threat landscape that evolves every day? How do you even quantify cyber risk to know where to focus your limited resources?

If one thing is for sure, for the companies that keep relying on existing security tactics, it becomes a matter of when (not if) a data breach causes massive disruption. Indeed there has to be a better way versus this non-stop game of catchup?

Current security methods come up short

Today’s common cyber risk approaches leave much to be desired:

• Preventative controls: Tools like traditional firewalls, endpoints, and IPS block some threats but are incomplete protections. You still get flooded with tons of alerts to sift through, trying to find actual incidents.
• Vulnerability management: Typically very manual and reactive. You only fix issues after some scanning tool flags an exposure, allowing months of unseen access in many cases. This band-aid approach just doesn’t cut it at businesses’ current pace.
• Compliance audits: These happen maybe once or twice a year. Auditors follow their own standards, so you get snapshots that are not optimised for business priorities. Technologists hardly ever have input to clarify actual risks, either.

What’s missing is a way to continuously expose and manage both internal authorisation risks alongside emerging external threats. Boardrooms remain in the dark, unable to quantify actual business risk exposures or potential disruption costs. Running blind, organisations miss chances to improve defences before disaster strikes.

Step into the light with threat exposure management

This is where Threat Exposure Management (TEM) comes in. TEM takes a data-driven approach to managing cyber risk enterprise-wide. Simply put, it gives you the ability to:

• Keep watch 24/7 on where assets, data, and access gaps exist
• Detect risk shifts as users, configs, and threats constantly change
• Predict business impact scenarios for smart planning
• Prevent incidents by closing exposures early

Also Read: Why does cybersecurity training for employees in Malaysia matter and how to go about it?

With the right TEM program, you gain an always up-to-date understanding of the distinct cyber risks facing your organisation. Just like advancements in medicine moved from reactive treatment to data-based prevention, TEM ushers in the next evolution of contextual, collaborative cyber defence.

Complete visibility of your dynamic environment

Gaining ongoing visibility into the entirety of your environment is the foundation for successful TEM. You need intimate intelligence on where sensitive assets reside, authorisation gaps exist, and critical data flows. This allows building an effective risk model that reflects reality.

Best-in-class solutions automatically map assets continuously across cloud, hybrid infrastructure, OT, IoT, and more. By stitching visibility seamlessly across technologies, you maintain a single source of truth through automatic updates.

Armed with this complete picture, you can track permission access across dynamic users and roles to expose combo risks. Analysing entitlements and connections illuminates potential attack paths, helping focus defenses on areas of heightened exposure likelihood.

Intelligence tracking of emerging external threats

Understanding exposure potential from approved access (internal threats) tells only part of the story. We also have to account for dynamic external threats from cybercriminals.

Motivated hackers actively scan environments each day, always finding new ways to break in through malware, ransomware, social engineering, and so on. They don’t care if they exploit some zero day vulnerability or a gap caused by one employee’s mistake.

To stay on top of these ever-evolving attack methods, advanced TEM systems continuously track global hacking trends. By ingesting intelligence from security firms and even the dark web, TEM keeps risk models updated based on real-world threats.

For example, analysts receive automatic alerts if chatter about hospital ransomware attacks spikes in Asia. Or new malware targeting manufacturing systems starts spreading. This hands-free monitoring ensures no threat goes unseen.

Rather than chasing thousands of theoretical vulnerabilities, teams can instantly mobilise incident response plans against credible threats mapped to their specific business assets. Staying steps ahead of emerging hacks before they become headlines.

Connecting the dots to business impact

When assessing risk, we tend to fixate on the likelihood of hacking threats or the number of security gaps. But not all assets are created equal for a company. We have to weigh business criticality too. For example, a vulnerability in your social media automation tools matters far less than one exposing customer financial data, right? The potential damage was done by a data breach factors heavily into how we prioritise defences.

Advanced TEM solutions help quantify bigger picture business impact by mapping out these connections:

• Linking assets and systems to key business functions that depend on them
• Modeling realistic disruption scenarios — lost revenue, recovery costs, fines, reputation hit
• Scoring risk by blending both likelihood and impact estimates

Painting this clear picture of how cyber-attacks translate to business disruption gets everyone aligned. IT security focuses on fixing higher value exposures instead of chasing every tiny issue. Leadership joins forces, realising revenue, regulatory mandates, and corporate reputation are all on the line.

Also Read: Protecting innovation: Cybersecurity as the backbone of tech independence

Because at the end of the day, informed risk decisions require seeing the forest for the trees – and TEM helps connect those dots between cyber risk and business impact.

Enabling risk-aware planning across the business

With constantly updated data on cyber risks and business impacts, the big win is enabling collaboration across your whole organisation.

• IT Security quickly spots gaps allowing hackers access to critical systems. They rally joint priorities to fix issues before damage happens.
• Finance sees forward-looking risk likelihood trends. They can account for cyber threats appropriately in investment planning and budgets.
• Legal and Compliance accurately pinpoints higher exposure areas in most need of audits, policies, and controls. Resources get allocated judiciously.
• Insurance moves from subjective questionnaires to fact-based assessments quantifying cyber risk. It helps justify policy premiums and limits through data-driven models.

By breaking down information silos, TEM gives every stakeholder shared visibility. Teams plan cyber defense strategies aware of risks based on data-backed projections – not gut feeling guesswork after major incidents strike.

Final thoughts

Playing defence against cyber threats isn’t working with how fast attacks evolve nowadays. Compliance checklists and legacy tools leave too many gaps bad actors exploit before we can even react. Businesses need to flip the script to quantify risks proactively and prevent incidents through cross-team collaboration.

That’s the power of threat exposure management. TEM gives you 24/7 visibility across your entire environment — critical for exposing authorisation risks and tracking emerging hacking threats targeting organisations like yours. With security and business leaders planning hand-in-hand armed with data-driven risk insights, you can finally get ahead of threats before they make headlines.

Sure, it takes some work to connect the dots between cyber risk and business impact. But isn’t the long-term resilience of an organisation worth investing in? No one wants to gamble on when (not if) the next data breach happens. TEM allows seeing around corners before disaster strikes so you can thrive.

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Singapore-headquartered logistics tech company Amilo.co has acquired Thailand-based Sivadon Logistics to bolster its operational capabilities and network.

The terms of the deal remain undisclosed.

“Thailand is pivotal for us as we support our expansion within one of Asia’s most dynamic regions,” said Amilo CEO Arun Mambully. “The acquisition of Sivadon Logistics provides us with an extensive network and a stellar team, enhancing our ability to not only help international brands enter Thailand but also support Thai SMEs to go global with our already established cross-border products.”

Also Read: Exclusive: Indonesia’s e-commerce enabler Komerce acquires RajaOngkir

Amilo provides access to warehousing, fulfilment, local transportation, delivery, and international expansion through its cross-border delivery services. It has a presence in Malaysia, Vietnam, Singapore, and Thailand. It has a network of over 20 warehouses and operates a fleet of 100-plus trucks.

The company claims to have served over 100 customers across these markets with an exclusive partnership with Belgium Post’s Landmark Group.

In a few months, Amilo will launch its cross-border services in Thailand. In September, this platform will also receive a new upgrade, including additional cross-border partnerships, new price comparison features, and upgraded dashboards.

Sivadon is Amilo’s third acquisition. Previously, it snapped up last-mile aggregator Kahago in Indonesia and an unnamed company in Vietnam.

“There are many amazingly well-managed, locally built small logistics companies in SEA and they are looking for opportunities to become international while leveraging on modern technology to increase efficiency,” said Arun Mambully, CEO of Amilo. “We are excited to partner with such companies.”

In 2022, Amilo raised US$2 million from unnamed international investors.

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In an era where sustainability, economic considerations, and social responsibility are increasingly intertwined, businesses are grappling with the evolving landscape of these practices.

The Echelon X panel discussion, titled ‘Does Sustainability, Economic, and Social Impact Still Matter Today?’, delved into this critical topic, examining case studies, discussing current trends, and debating the role of businesses in driving positive change.

Moderated by Rachel Wong, Founder of Founders Doc, the panel featured esteemed speakers:

• Tim van Vliet, VP Venture Scale at ENGIE Factory Asia-Pacific
• Greg Blackwood from NUS Enterprise Investment Committee and RaiSE / NUS TS2 Selection Committee
• Diana Kam, CEO of Singapore Markets & APAC Region at Venturebeam
• Gavin Chua, Head of Stakeholder Engagement in APAC at Meta

The panel discussion provided valuable insights into the ongoing relevance and importance of sustainability, economic considerations, and social impact in today’s business world. Whether you are an entrepreneur, investor, or simply curious about the future of business, the session highlighted the critical role that businesses play in driving positive change.

As the landscape continues to evolve, the commitment to these principles remains essential for building a more resilient and equitable future. The panelists’ perspectives underscored the need for continuous innovation, collaboration, and a holistic approach to business practices that prioritize sustainability and social responsibility.

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The post Echelon X: The intersection of sustainability, economics, and social impact in business appeared first on e27.

The Southeast Asia region has emerged as a hotspot for fintech innovation and growth, with its large population, rapidly expanding middle class, and increasing digital adoption. While the potential rewards are significant, entering the Southeast Asia market as a fintech company comes with a unique set of challenges and complexities.

In this comprehensive article, we will delve into the difficulties fintech companies encounter when venturing into the Southeast Asian landscape.

Regulatory hurdles

Navigating the complex regulatory environment in Southeast Asia can be a formidable challenge for fintech companies. Each country within the region has its own set of financial regulations, licensing requirements, and compliance standards. Achieving and maintaining regulatory compliance can be a time-consuming and costly process.

Compliance variability

Even within a single country, regulatory requirements can vary significantly, posing a compliance challenge. Companies need to stay abreast of changes in regulations, which may be influenced by political, economic, or social factors.

Customer trust and data privacy

Building trust among Southeast Asian consumers is paramount for fintech success. Concerns about data privacy and cybersecurity have grown, making it essential for companies to demonstrate their commitment to protecting user data.

Consumer education

Many consumers in the region may not be familiar with fintech services, necessitating extensive education and awareness-building efforts. Clear communication and user-friendly interfaces are vital to overcoming this challenge.

Currency and exchange rate risk

Dealing with multiple currencies in the region presents currency risk. Fintech companies must devise strategies to manage exchange rate fluctuations and offer multi-currency services.

Competition from established players

Local and international banks and financial institutions often have a strong foothold in the Southeast Asian market. Competing with these established players can be challenging, requiring fintech companies to offer compelling value propositions.

Payment preference variability

Southeast Asia exhibits a diverse range of payment preferences, including digital wallets, bank transfers, cash payments, and mobile money. Adapting to these preferences and integrating with local payment providers is essential.

Infrastructure and connectivity

While urban areas in Southeast Asia are typically well-connected, rural regions may lack reliable internet access and financial infrastructure. This digital divide can hinder the reach of fintech services.

Also Read: Lead, don’t follow: The essential guide to category creation and market domination

Political and economic instability

Some countries in the region have a history of political and economic instability. Fintech companies need to carefully monitor these developments and assess risks to their operations.

Partnerships and local relationships

Collaborating with local banks or financial institutions may be necessary for certain fintech services. Building these partnerships and navigating local relationships can be complex.

Language and cultural barriers

Language diversity and cultural differences across the region can pose communication and marketing challenges. Tailoring content and services to local customs and preferences is essential.

Access to rural markets

Expanding into rural and remote markets can be logistically challenging. Fintech companies must develop strategies to overcome these geographical barriers and reach underserved populations.

Financial inclusion

Promoting financial inclusion is a significant goal in Southeast Asia. Fintech companies must develop services and strategies to reach unbanked or underbanked populations.

Currency regulations

Some countries may impose strict currency controls or limitations on fund transfers, affecting the operations of fintech companies.

Customer support and localisation

Providing customer support in multiple languages and adapting services to local customs and preferences can be resource-intensive but is essential for customer satisfaction.

Conclusion

While Southeast Asia presents immense opportunities for fintech companies, the journey is riddled with challenges that require careful planning, adaptation, and resilience. Successful market entry and growth in this diverse and dynamic region hinge on a combination of factors, including regulatory compliance, consumer trust, innovation, and effective localisation. Fintech companies that navigate these complexities wisely can unlock the vast potential of the Southeast Asian market and contribute to financial inclusion and digital transformation in the region.

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