In today’s competitive landscape, launching a product or service with a global tech giant can seem like an insurmountable task. Yet, some companies have cracked the code of open innovation, demonstrating how networks, strategy, and a deep understanding of cultural nuances can play a pivotal role in achieving success.

Below are key insights on how open innovation thrives, the challenges involved, and the strategies startups can use to scale in this environment.

Winning strategies for global open innovation

To successfully engage in open innovation, startups must take a multi-faceted approach. Joining specialised accelerators, seeking investment from venture capitalists, and increasing visibility on platforms like Crunchbase and Pitchbook is essential for creating collaboration opportunities. These platforms allow large corporations to easily discover startups with the specific technologies they need.

LinkedIn also plays a crucial role in building global connections. By developing a strong presence and network, startups can directly engage with open innovation departments at large corporations. Startups should adopt multiple strategies at once to broaden their reach and boost their chances of securing partnerships with global giants.

Leveraging networks in AI SaaS launches

When launching an AI SaaS product with a global company, industry networks play a critical role. Startups with strong connections to key players like Softbank, Microsoft, and Salesforce gain easier access to decision-makers, which opens up opportunities that would otherwise be difficult to access.

However, having a robust network alone doesn’t guarantee success. Startups must also have a deep understanding of the challenges their partners face and maintain clear communication while aligning mutual goals. Collaboration and continuous coordination are vital for ensuring a smooth product launch. In this context, a strategic approach to utilising networks becomes essential for scaling and success, particularly in open innovation environments.

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

Building these networks isn’t easy for every startup, especially in international markets. It can seem daunting, but through targeted efforts, meaningful connections with the right companies can be made. Participating in startup events and working relentlessly to grow these connections are critical. While it requires strategic persistence, any startup can ultimately establish the right business network to drive their success.

Adapting fast: The silicon valley survival playbook

In Silicon Valley’s highly competitive landscape, the ability to adapt and learn quickly is crucial, especially when engaging in open innovation with global corporations. Startups often collaborate with large companies during proof-of-concept (PoC) stages, where flexibility and responsiveness are essential.

With fierce competition and rapidly evolving technology, startups must pivot and refine their solutions based on market feedback and partner needs. In open innovation, speed and adaptability are essential. Those who can quickly respond to challenges and feedback are the ones who thrive, while others risk being left behind.

Japan’s open innovation playbook: A guide for startups

Japan is a leader in open innovation, particularly among its large corporations. These companies have long understood the value of collaborating with startups in fields like AI and frontier tech. What sets Japan apart is its clear and defined future business strategies, which often guide these collaborations.

For startups looking to work with Japanese corporations, aligning their technology with the company’s pre-existing strategies is crucial. Startups without a proven product or track record may find it challenging to secure collaborations. However, once the viability of their technology is demonstrated, open innovation in Japan can lead to significant growth.

 The venture-client model: A total game-changer

One of the most important trends in open innovation today is the “venture-client model,” where startups become clients of large corporations. This model offers startups the opportunity to gain valuable real-world experience through long-term contracts and co-development while helping large companies solve business challenges.

Also Read: How corporate innovation in Vietnam is fledgling the B2B startup ecosystem

For startups, this model is a game-changer, as it allows them to prove their technology on a large scale, gaining credibility and increasing revenue potential. The venture-client model has emerged as a win-win for both startups and corporations, fostering long-term innovation and mutual growth.

Navigating regional challenges: Going global with a local twist

As startups expand globally, understanding regional market challenges and regulations is vital. For example, the biotech industry faces stringent regulatory hurdles, while software companies need to focus on localisation to meet the specific needs of users in various regions.

Localisation is essential for global success. By adapting products to meet local market demands, startups can ensure their solutions resonate with users worldwide, improving the chances of successful global expansion. Tailoring solutions to fit the needs of each market ensures that startups can thrive in different regions.

Thriving in uncertainty: Mastering agility for startups and corporations

With rapid technological advancements and constantly shifting market conditions, uncertainty is the new norm. Both startups and large corporations must adopt a mindset of agility and action to navigate these uncertainties. Large companies need clear strategies to address market shifts and identify new business drivers for growth.

Startups, meanwhile, should focus on expanding their networks and ensuring they don’t miss out on open innovation opportunities as they arise. By maintaining flexibility, constantly learning, and adapting both startups and corporations can position themselves to succeed in this evolving business landscape.

In an era where innovation is key to scaling and succeeding, startups must strategically engage in open innovation with global giants. By leveraging networks, adopting multiple strategies, adapting quickly, and tailoring solutions to global markets, startups can position themselves for sustainable growth. Open innovation offers both challenges and opportunities, but for those ready to seize them, the rewards can be transformative.

A special thanks to Sun Choi, Founding Partner at 2080 Ventures, for sharing invaluable insights that helped shape this article.

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In the age of social media and digital presence, the concept of a “personal brand” has become ubiquitous. As someone who has spent three decades navigating the ever-evolving media and communications landscape, I’ve witnessed firsthand the rise of personal branding and its impact on careers and businesses.

Today, I want to share my story of grappling with the decision to build a personal brand, the challenges I faced, and the valuable lessons I learned.

The allure of personal branding

Early in my career, personal branding was less prevalent than it is today. We focused on building our skills, networking in person, and letting our work speak for itself. However, as social media platforms gained prominence and the line between personal and professional lives blurred, I was at a crossroads.

I remember sitting in my office, scrolling through LinkedIn, and seeing colleagues and industry leaders amassing followers, sharing insights, and seemingly catapulting their careers to new heights through their online presence. The allure was undeniable. I thought, “Am I missing out on opportunities by not putting myself out there more?”

The turning point

My perspective on personal branding shifted dramatically after attending a conference where I heard Everette Taylor, CEO of Kickstarter, speak about the subject. His words struck a chord with me: “Before you build a personal brand, you have to be mindful of the impact of your words. Just be careful about that decision because you cannot put the genie back in the bottle.”

This statement made me pause and reflect. I had been so caught up in the potential benefits of personal branding that I hadn’t fully considered the responsibilities and possible drawbacks. Taylor’s warning about the permanence of our digital footprint resonated deeply with me.

Weighing the pros and cons

In the weeks following the conference, I found myself in a state of introspection. I thought about figures like Kevin O’Leary from Shark Tank, who seemed to thrive in the spotlight of personal branding. O’Leary had mentioned building his brand to “be part of the narrative.”

Also Read: How mental health startup Intellect’s founder catalysed his personal battle with anxiety

However, as Taylor pointed out, only some are built for that level of public scrutiny.

I asked myself some hard questions:

• Am I prepared to handle potential criticism and negative feedback?
• Do I have a clear purpose for building a personal brand beyond gaining followers or attention?
• How will this impact my relationships with colleagues and clients?
• Am I ready for the time commitment required to maintain a consistent online presence?

The decision and the journey

After much contemplation, I decided to dip my toes into the waters of personal branding, but with a carefully considered approach. I followed Taylor’s advice:

• Determine your why: I defined my purpose for building a personal brand. It wasn’t about becoming a social media influencer but rather about sharing my experiences and insights to help others in the industry navigate their careers.
• Stay true to your purpose: I committed to sharing only content that aligned with my values and expertise. This meant sometimes passing on trending topics that didn’t fit my narrative.
• Be mindful of the impact of your words. Before every post or comment, I carefully considered how my words might be interpreted and what effect they could have on others.

The challenges and lessons

Building a personal brand wasn’t without its challenges. There were days when I felt overwhelmed by the pressure to constantly produce content. I experienced moments of self-doubt when a post didn’t receive the engagement I had hoped for. And yes, I faced criticism and differing opinions that tested my resolve.

However, these challenges also brought valuable lessons:

• Authenticity is key: The posts that resonated most with my audience were those where I shared genuine experiences and vulnerabilities.
• Consistency trumps perfection: Regular, thoughtful engagement was more effective than sporadic, polished content.
• It’s okay to set boundaries: I learned to balance my online presence with my offline life, understanding that it’s perfectly fine to step back when needed.
• The power of community: Building a personal brand wasn’t just about self-promotion; it was about fostering meaningful connections and contributing to industry discussions.

Also Read: The business of social responsibility: Why brands are redefining their social conscience

While I approached personal branding with caution, I was pleasantly surprised by some unexpected benefits. My online presence opened doors to speaking opportunities, collaborations with respected peers, and even consulting gigs. More importantly, it allowed me to mentor young professionals who reached out after resonating with my content.

Reflecting on the journey

Looking back on my journey with personal branding, I realise that Taylor’s advice was spot-on. Building a personal brand is not a decision to be taken lightly, nor is it a one-size-fits-all solution for career advancement. It requires careful consideration, a clear purpose, and a commitment to authenticity and responsibility.

For those contemplating whether to build a personal brand, I offer this advice: Take the time to reflect on your motivations and readiness for public exposure. Be prepared for both the rewards and the challenges. And above all, stay true to your values and purpose.

In my case, while I may not have the massive following of a O’Leary, I’ve found a balance that works for me—one that allows me to contribute to my industry, connect with like-minded professionals, and continue growing both personally and professionally.

Remember, your personal brand is more than just your online presence; it’s the sum of your actions, words, and impact on others. Whether you choose to actively cultivate it or not, make sure it’s a reflection of your authentic self.

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Singapore-based mixed reality and AI company BuzzAR has secured US$1.16 million in funding from the HSBC New Economy Fund.

The firm is using the money raised to expand its presence in the Middle East and North Africa (MENA) region, particularly Saudi Arabia, where it has partnered with the tourism department.

Also Read: 100 million inbound travelers in Saudi Arabia to access ChatGPT in Arabic via BuzzAR

Founded in 2018 by Bell Beh and Ken Lim, BuzzAR specialises in experiential engagements that bridge the gap between offline and online spaces for its clients. In April of this year, the startup launched the AI travel companion BAE (Buzz AI Experience), which is trained to relate to each user’s emotions to be a digital tour guide. Beyond offering storytelling and personalised content discovery for travellers, it has built-in booking and payment functionalities to handle transactions for travellers on the go seamlessly.

BuzzAR saw the Middle East and North Africa (MENA) as potential prime tourist destinations and began expanding into the region in 2022. It is now working to digitalise Saudi’s hospitality industry by integrating its AI tour guide, BAE, with the Saudi Tourism Authority.

The Kingdom targets 100 million tourists by 2030 but faces a shortage of registered tour guides. With BAE, tour guides can handle bigger groups, target a wider audience, and free up their bandwidth to further personalise services and enhance the tourist experience.

Together with the Saudi Arabian Monetary Authority (SAMA), BuzzAR projects that BAE’s refinement and deeper integration can bring in one million travellers and US$3.2 billion in tourism dollars by 2026.

Also Read: Introducing BAE: The world’s first AI travel companion by BuzzAR

Saudi Arabia’s Public Investment Fund’s (PIF) Vision 2030 aims to diversify the economy. Its US$64b investment plan is geared toward helping the entertainment sector contribute more than US$23b, or 3 per cent of GDP, by 2030.

In 2022, BuzzAR raised US$3.8 million.

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Coolmate, a direct-to-consumer (D2C) men’s apparel brand in Vietnam, has completed its Series B funding round, led by Vertex Ventures Southeast Asia & India.

The investment will accelerate the startup’s international expansion, product innovation and omnichannel retail presence across Southeast Asia.

Also Read: Why Vietnam is the next big thing for startups and corporate partnerships

Founded in 2019, Coolmate specialises in “high-quality and affordable” apparel. It provides a diversified product range, including activewear, casualwear, and underwear, in partnership with top export-driven factories.

Coolmate innovates with eco-friendly materials like organic cotton, recycled fibres, and the latest eco-friendly production processes, such as clean dye technology. This resonates with Vietnam’s youth, many of whom are eco-conscious consumers.

Pham Chi Nhu, CEO and Co-Founder of Coolmate, said: “From day one, we’ve been driven by a mission to build a responsible business that positively impacts not only its customers but also its employees and society. At Coolmate, we are highly committed to reducing our environmental footprint whilst providing durable, stylish and comfortable clothing for modern consumers. These have always been our core values from the beginning.”

Vietnam’s domestic apparel industry is valued at US$6.4 billion, fuelled by favourable macroeconomic conditions and shifts in consumer behaviour. The fast-growing middle-class consumer segment strongly prefers quality and customer service. They are ESG-conscious and looking for affordability.

Also Read: VPCA to boost Vietnam’s investment landscape with US$35B private capital target

Vertex Ventures Southeast Asia & India is a leading early-stage venture capital firm that partners with high-growth startups across Southeast Asia and India. With a strong network and strategic expertise, it has invested in successful companies like Grab, Nium, FirstCry, and PatSnap.

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Technology has transformed almost every aspect of our day-to-day lives, from our work and house chores all the way through to entertainment. It has also strongly influenced our behaviour as consumers, changing our decision-making and buying habits.

One of the key technologies that are impacting consumer behaviour today is the adoption of live commerce and shoppable short videos. Businesses are beginning to recognise the importance of engaging their customers across multiple channels and driving higher consumer satisfaction through the use of live streaming and video technology.

In fact, a 2022 study showed that e-commerce platforms experienced a 115 per cent increase in orders from live streaming alone after a large influx of digital consumers from the APAC region. Furthermore, this trend isn’t going away any time soon.

According to a report by Andreessen Horowitz’s a16z, live shopping is expected to triple in revenue by 2026 and account for 20 per cent of all e-commerce transactions. 

So what makes live commerce so impactful and effective? The simple answer would be that consumers are looking for “shoptainment”, or an experience that goes beyond a simple purchase and includes personalised and entertaining features to the shopping journey. As  Andreessen Horowitz described, “It’s not just a transaction. Consumers seek out personalised and entertaining shopping experiences.” 

Also Read: The thrills of online shopping: Exploring Vietnam’s e-commerce haven

There are a handful of key reasons why live commerce is so effective, as shoptainment can be many things, and it certainly brings together several aspects and strategies to meet modern consumers’ demands, such as:

Personalised shopping

Through data analysis and machine learning, technology helps businesses to better understand their customers’ preferences and shopping behaviour. Businesses are then able to offer personalised recommendations and promotions, which can improve the overall shopping experience for consumers.

Therefore it is imperative, in my opinion, for businesses to gain access to first-party data as much as possible. This will enable them to accurately create shopper personas and push relevant content and information. With such personalisation and great sales mechanics, sales conversion would naturally follow.

Instant access to real-time information

At present, the world wide web makes it easier for consumers to research products and services before making a purchase. Consumers can read reviews, compare prices, and research the features and benefits of products online.

However, with the power of live streams, businesses are now able to replicate an almost identical in-store shopping experience virtually. Consumers can ask questions in real-time and live sellers are able to answer them immediately.

Features of the products can be demonstrated, and consumers can make purchasing decisions almost instantaneously. With information at their fingertips, consumers can then make a decision quickly, improving the conversion rates of a live stream.

The possibilities of future technology

The final reason is that technology has endless capabilities. From virtual hosts to metaverses to NFTs, consumers are now being introduced and exposed to various forms of these technologies within the live commerce space. These advancements will eventually be geared towards building a more engaged consumer market who are more loyal and would like to purchase products repeatedly.

It is this final reason that suggests to me that the live commerce space will continue to develop at a rapid pace. Looking ahead, there are plenty of interesting technological developments that would potentially change the meaning of consumer engagement in the years to come, such as augmented, virtual and extended reality (AR, VR, and XR), virtual hosts, and artificial intelligence.

Also Read: 3 success tips to help e-commerce businesses unlock online success

When it comes to AR, VR, and XR, these technologies allow consumers to see how a product would look on them or in their space before they make a purchase. This changes the entire live streaming experience, where consumers can now do virtual try-ons or “walk” into a store to browse the catalogue in a live stream. This creates an immersive and engaging consumer experience. 

While virtual hosts are typically computer-generated characters that serve as hosts or co-hosts of the live stream, they take a variety of forms, from simple characters to more complex avatars that use machine-learning algorithms to mimic human behaviour and conversation.

They can be customised to fit the style and tone of the live stream and are able to interact with the audience through chat or other forms of online communication. In addition to this, they can operate 24/7 and can be replicated across multiple platforms and streams at the same time. 

Of course, artificial intelligence has been a buzzword for many years, but it is only now, with the rise of ChatGPT, that we can truly witness the power of AI far and wide, and this, I believe, will be a game changer in the industry.

The power of AI to extract, consolidate, and process key vital information about a consumer would be important for businesses to be able to curate more meaningful and impactful content to convert them into loyal and paying customers. With the abundance of data that is prevalent in a live stream, businesses must harness the power of AI to gain an advantage over their competitors in the space. 

In conclusion, while the adoption of live streaming as a powerful tool for brands looking to connect with their audience and build trust and loyalty is gaining momentum, the technology surrounding the ecosystem is developing fast and moving ahead of the innovation curve.

It is imperative for brands and businesses exploring live commerce as part of their product offerings to partner with solutions providers who are able to understand their requirements and bring in insights from having worked with hundreds of implementations globally.

This way, brands across the globe can ensure they are meeting modern consumers’ demands as well as integrating the top technological trends to stand out and keep clients coming back for more.

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This article was first published on April 10, 2023

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The student debt crisis is a financial burden that millions of people continue to grapple with worldwide. In the US alone, student loan debt stands as one of the largest categories of consumer debt, with more than 42 million people owing over US$1.7 trillion.

As tuition fees continue to rise and federal relief programs face political and legal roadblocks, students and recent graduates are being saddled with financial obligations that impact every aspect of their lives — from career choices to buying homes, starting families, and even mental health.

The struggle of student debt

The student debt crisis has far-reaching consequences, especially for low-income and minority communities. Studies show that the financial burden disproportionately affects racial minorities, with Black and Latino borrowers facing higher average loan balances and default rates. One of the most significant consequences of student debt is its impact on economic mobility.

Graduates with large amounts of debt are often forced to take higher-paying jobs in sectors they’re less passionate about, as opposed to lower-paying public interest positions that align with their skills and values. This phenomenon, commonly referred to as the “public interest penalty,” stifles innovation and limits career flexibility.

Recent attempts at federal student loan forgiveness, such as President Biden’s proposed US$20,000 relief plan, were thwarted by legal challenges, leaving millions of borrowers in limbo. Despite these setbacks, there are other relief programs like the Public Service Loan Forgiveness (PSLF), which offers debt forgiveness for workers in public service fields, though poor implementation in its early years left many qualified borrowers unable to access its benefits.

The Biden administration has made efforts to revamp these programs, offering over US$175 billion in total debt cancellation for nearly five million people since 2021 , but the reality is that for many, this isn’t enough.

The role of edutech in tackling the student debt problem

As student debt continues to rise, the role of edutech companies becomes more critical in addressing this issue. The edutech space is uniquely positioned to disrupt the traditional education finance system through innovative learning platforms, income share agreements (ISAs), and now, blockchain-based solutions. One of the most promising approaches in this space is the integration of technology to make education financing more accessible and flexible for students.

Also Read: Edutech is surging, but here are the 3 issues it is facing

Edutech companies have introduced alternative ways for students to finance their education, such as ISAs, where students agree to pay a percentage of their future earnings instead of taking on traditional loans. This model ties payment to success in the workforce, aligning the interests of both the student and the institution.

Notable edutech platforms like Lambda School (now known as BloomTech) have popularised ISAs in the tech space, allowing students to pay tuition only once they land a job. These innovations are changing the conversation around student debt and offering pathways to education that aren’t reliant on traditional loan models.

Another area where edutech is making strides is in leveraging blockchain technology for decentralised financing solutions. Blockchain has the potential to address many of the inefficiencies and lack of transparency in the current student loan system by providing secure, verifiable transactions and opening up opportunities for peer-to-peer financing. This is where Open Campus enters the picture.

Open Campus and blockchain-based student financing

At Open Campus (OC), we’re committed to tackling the student debt crisis head-on by leveraging decentralised technologies to create a more equitable system. With a portfolio of 60 edutech companies and over 22 million students, OC is in a unique position to provide a comprehensive financing solution. We believe that blockchain offers a way to transform not only how education is funded but also how students access that funding.

Through our decentralised education finance initiative, EduFi, we’re tokenising the US$1.7 trillion education finance market to revolutionise how students, investors, and institutions engage with student loans. By using blockchain, we’re creating a transparent and secure way for students to access funding without the bureaucratic red tape of traditional lenders. The decentralised nature of blockchain also opens the door for more creative financing solutions, like peer-to-peer lending and smart contracts that can automate repayment processes based on income.

Our vision at Open Campus goes beyond just lowering the cost of education. We aim to create a sustainable financial ecosystem where students can receive funding from a diverse set of investors, ranging from individuals to institutional players. By tokenising educational financing, students can access loans that are more flexible and tailored to their financial situation, with the potential for better interest rates and more favourable repayment terms. This, in turn, makes education more accessible for underserved populations, who are often disproportionately affected by the traditional student loan system.

Strategic partnerships and future opportunities

To make this vision a reality, we’re not going at it alone. We’re working to form strategic partnerships with various financial institutions, blockchain innovators, and even traditional venture funds that are looking to make a social impact through education. One key aspect of our approach is creating pathways for students to not only secure funding but also build their digital identity through verifiable credentials on the blockchain.

Also Read: The digital classroom: How edutech is sculpting the minds of tomorrow

Through strategic partnerships, we plan to collaborate with funds that are interested in co-raising and funding projects that align with our mission. For example, we’re exploring opportunities to work with decentralised autonomous organisations (DAOs) focused on education, where funding can be crowdsourced directly from members who believe in the power of education to change lives. This collaborative approach is essential for scaling our efforts and ensuring that millions of students can access the financial resources they need.

Moreover, we’re keen on establishing student distribution pathways, partnering with schools, educational platforms, and governments to help more students access decentralised loans. This multi-faceted strategy will help onboard millions of students into Web3 while solving the pressing issue of student debt. Imagine a future where students aren’t bogged down by crippling loans but instead are empowered by a flexible, transparent system that works in their favour.

The road ahead

The student debt crisis is a challenge that demands innovative solutions, and at Open Campus, we’re proud to be part of that solution. By leveraging blockchain technology, we’re not just offering a better way to finance education — we’re building a system that aligns the interests of students, educators, and investors alike.

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Revolutionising Insurance: Leveraging AI to Drive Inclusivity and Accessibility in the Philippine Market

At Echelon Philippines 2024, a fireside chat titled ‘Revolutionising Insurance: Leveraging AI to Drive Inclusivity and Accessibility in the Philippine Market’ focused on how Lydia.ai is leveraging AI to transform the insurance landscape in the country.

Christina Cai, the Chief Operating Officer and Co-Founder of Lydia.ai, emphasised the importance of inclusivity and accessibility in insurance offerings for underserved and unbanked populations. By utilising AI-driven health scoring models, Lydia.ai aims to provide insurers with the tools needed to develop more affordable and accessible insurance products, thereby integrating insurance into the daily lives of Filipinos.

Also Read: Echelon Philippines 2024: Beyond traditional frameworks with Minette Navarrete of Kickstart Ventures

Cai discussed how traditional barriers to entry, such as invasive health assessments and high costs, can be mitigated through AI technology. The goal is to make health data more useful while ensuring transparency, trust, and customer consent in the process. By tailoring insurance products specifically to the Filipino market using local data and digital sources, Lydia.ai seeks to enhance the overall insurance experience.

The conversation also highlighted the potential of AI to address misconceptions and accessibility challenges, particularly for underrepresented groups and individuals with disabilities.

Moderator Christine Galolo, General Manager at e27, facilitated the discussion that showcased Lydia.ai’s commitment to creating a more equitable insurance environment in the Philippines. With the integration of AI in insurance, the hope is to break down barriers and foster greater financial inclusion across the nation.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

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State-run Malaysia Digital Economy Corporation (MDEC) has signed Memorandums of Understanding (MoUs) with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV).

These strategic partnerships will strengthen Malaysia’s digital economy, bringing in capital investment of up to US$45 million (RM200 million) to fuel innovation and accelerate the growth of local startups.

Also Read: MDEC CEO: Under Malaysia Digital, digital businesses will have more flexibility in fiscal, non-fiscal incentives

This combined funding will foster the growth of Malaysian startups, particularly in alignment with Malaysia’s KL20 initiatives.

Ascent will invest in early-stage Malaysian startups across critical sectors, including fintech, embedded finance, healthcare, sustainable agriculture, SME enablers, and next-generation technologies like Artificial Intelligence (AI) and robotics. This capital injection is expected to enhance financial inclusion, promote digital transformation, and enable promising startups to scale regionally.

Simultaneously, CCV, the venture arm of Indonesia’s largest private bank, Bank Central Asia (BCA), offers Malaysian startups access to its Southeast Asia regional ecosystem network. This investment aligns with MDEC’s mission to accelerate AI, cybersecurity, blockchain, and digital finance growth, providing vital support for Malaysian startups in these high-growth sectors.

These strategic MoUs will drive cross-border innovation, allowing Malaysian companies to leverage resources and expertise from Ascent and CCV to expand operations and compete globally. The partnerships will also foster local innovation and talent development and contribute significantly to Malaysia’s transformation into a dynamic, digital-first nation.

Also Read: TikTok exec Anuar Fariz Fadzil joins MDEC as CEO to drive Malaysia’s digital agenda

Through these collaborations, Malaysian startups will gain access to international markets, mentorship from industry experts, and potential follow-on investments. MDEC will work closely with Ascent and CCV to ensure the successful execution of these initiatives and maximise their long-term impact on Malaysia’s digital economy.

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With close to 30 years of history, Accuron Technologies (Accuron) started out in contract manufacturing for aerospace parts and components. As the years passed, the Singapore-based company expanded to include other pillars: semiconductor equipment manufacturing and advanced manufacturing equipment.

But on Tuesday, at the sidelines of the Singapore Week of Innovation & Technology (SWITCH), Edwin Chow, Vice President for Industrials & New Ventures at Accuron, spoke to e27 about the company’s corporate venture capital (CVC) arm.

“The idea is to invest in younger, fast-growing companies that have their own intellectual property, proprietary technology, and know-how. [These companies] are already scaling up in sectors or segments that are either part of our core businesses or operating in sectors that have a long-term growth trajectory, driven by the so-called megatrends, demographic change, and digitalisation,” he elaborates.

“In a nutshell, we spot promising, high-growth, fast-growing companies that require financial resources and other capabilities that we can provide–and we want to invest in the right ones.”

Accuron invests in areas within or adjacent to its core business areas, from aerospace and semiconductor equipment to 3D printing. The organisation is also looking at sectors that it believes have long-term growth potential, such as renewable energies and digitalisation of the manufacturing process.

Also Read: Malaysia Digital status companies pioneer growth in the competitive semiconductor industry

“People are getting older; fewer people are willing to work in factories. So, the natural thing to do is to digitalise and automate,” Chow explains.

He also added that Accuron is looking for companies at a later stage. “They already have customer traction, so [that includes] positive cash flow and customers in their home base. They have their own proprietary IP and a management team that is growth-oriented and ready to scale. What we do not want is companies that are just too early, but we want to keep these companies on our radar.”

During our conversation, Chow also discussed the challenges late-stage startups may face in scaling their businesses. Securing more customers without losing profitability and managing a more efficient supply chain and supplier base are top of the list.

“The third area is something that most earlier-stage startups tend to ignore until later: the internal governance of the company. It includes the financial and HR governance. As a young startup, you focus on getting the next customers and partners, ensuring you raise funds. Sometimes you do not realise that if you are raising a bigger round, the investors that come in are usually institutional investors,” Chow points out.

“They will probe your management processes, financial statements, and HR policy.”

Looking ahead

With the rising popularity of Generative AI, the semiconductor industry is experiencing a surge in demand. As a company with a business pillar in the industry, how does Accuron plan to seize this opportunity?

Also Read: AI will spur growth in data centres, potentially leading to semiconductor shortage: Bain & Co

Chow begins by stressing that the semiconductor market is “very, very big.” As a US$600 billion market, it includes a wide range of products and requires Accuron to clearly focus on what it wants to achieve in the space.

“We have existing companies that make machines that help the fabrication process of the chips, companies that make machines that help handle the wafers … so when you speak about the relations between AI and the semiconductor industry, it is a very broad brush,” he says.

“In terms of strategy, we look at how we can grow the business units that we already have in that sector and the area of new corporate ventures. We want to identify companies that can perhaps use AI to help in the digitalisation of the manufacturing process,” Chow continues, giving examples of machine learning that can help improve the manufacturing process by reducing defects and improving yields.

“I am quite cautious in saying there is such a grand strategy. Frankly, unless you are TSMC or Nvidia, I would take anything anyone else says with a big pinch of salt.”

The same open-mindedness is also seen in Accuron’s plans for 2025.

“We do not have a target in mind, which is the benefit of being a Corporate VC. Because we do not invest other people’s money; we invest our own money from our balance sheet,” Chow closes.

“We are taking a more curated and targeted approach. So, we want to meet as many interesting companies as we can, but we will probably act on only a few that fit our strategies.”

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Image Credit: Accuron

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Over the past year, my journey with AI tools such as Claude, ChatGPT, and Google’s Gemini has reshaped how I approach communications and PR for tech founders and funds across Asia. Using these tools has fundamentally transformed my workflow and delivered more effective, targeted, and impactful PR campaigns.

There’s no question about it: AI is and will be an instrumental tool in our industry. Those who do not get on board will be left behind. It is tantamount to using an abacus for calculations.

Before diving into the learnings or applications for AI, one core principle I follow is to steer clear of using AI for first drafts or iterations of meaty content like press releases,  long-form reports, or even an op-ed like this one. These early drafts often land generically and fail to hit the mark. But, who knows, future advancements and continuous learning might further enhance its effectiveness.

For now, though, AI is invaluable for idea generation, short-form content generation and refinement, and the design of simple graphics.

Here is a list of proven use cases:

Idea generation

AI is incredibly efficient for brainstorming talking points or story angles and getting your planning started.  For instance, when developing a pitch about the rise of sector-specific AI for an early-stage VC fund, AI can swiftly generate a list of pertinent questions, which you can then fine-tune.

Example prompt: “I’m pitching a story for [insert publication] on the growth of AI for an e-commerce client – please give me a list of 10 questions.”

I then review and refine the questions.

Media pitches

Without a doubt, using AI has been useful in fine-tuning media pitches and providing a general sense check.

Example prompt:

“[insert media pitch] Please review and edit this pitch for a tech report for e27.

Media responses

Many PR professionals are increasingly using AI to develop media responses. AI is supportive in providing initial structure and broader viewpoints. However, the responses always need to be in line with the ‘house’ view, tone of voice, and of course, be original and authentic.

Headline crafting

Crafting the first five to seven words in a headline is crucial for a communications professional. For me, I use AI more often to refine my headlines than to generate them from scratch.

Example prompt:

“[insert current headline] Please provide five alternative headlines for a press release that targets institutional investors.”

Sense-checking messaging

As PR professionals, we always harp on getting the key message through. AI can be a partner in giving you that sense check.

Example prompt:

[insert content/interview response] What is the key message here?

Also Read: How marketing will be enhanced through generative AI

Editing

AI has been immensely helpful in editing content, bringing clarity, and quickly incorporating feedback.

Example prompt:

[insert paragraph of content] + [insert client feedback e.g. “For this paragraph, can you please also incorporate additional context on VC investment in Vietnam’s startup ecosystem?”

Transcriptions

Our clients are often time-pressed so any opportunity they get to speak on podcasts, webinars, media interviews, or panels, we look to reuse and repackage. The “old school” way was to record, get a transcriber to transcribe, review manually, and develop content off the back of it.

With tools like Castmagic, the transcriptions get cleaned up, analysed, and synthesised and are available in various blog, and social media formats. Tools like this are also useful in helping you slice and dice into various other formats, or respond to specific prompts (e.g. pull out all quotes related to hiring for AI roles in Southeast Asia). This can all be done by the time you make a French press coffee.

Graphics

This is still fairly preliminary but I’m excited about the developments. With advanced tools like ChatGPT 4.0, we now have access to the creation of diagrams, charts and pie graphs within minutes following a prompt. This will be an excellent resource in saving time and efficiency all around.

Example prompt: [create a timeline diagram of company X with inception and milestones].

Research assistance

Last but not least, AI has been a great research assistant in supporting media pitches, developing proposals, and overall content creation. With more advanced tools like Perplexity, you also have access to academic papers to draw from.

However, when using AI, it’s important not to take anything generated at face value and review it with a critical eye.

Be wary of inaccuracies or “hallucinations” in AI responses. AI is not perfect and the research presented needs to be double-checked and sources verified.

For example, if you prompt the following: “Give me a list of tech reporters in Asia.” You will find most of the list outdated. Since certain AI tools rely on information only available until 2022, 2023 or information is not fully updated online.

Also, it is important to ensure your work remains original and authentic. This reiterates the earlier point about not blindly trusting AI-generated content.

Ultimately, AI is designed to augment the work of communications and PR professionals. Our role as storytellers remains indispensable. In an AI-assisted world, the creation of high-quality content is more crucial than ever for PR professionals.

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Image credit: Canva Pro

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