In 2016, Rahul Namdev and Pawan Gupta discussed corporate employees’ challenges in finding their life partners. They concluded that the traditional Indian methods of finding a soulmate (through friends and relatives, etc.) were challenging and imperfect.

The MIT graduate duo felt there should be a way to simplify the matchmaking process.

“While the industry talked about marriage, the last step of the partner search journey, it didn’t discuss the entire search process, which is way more volatile, uncertain, frustrating and anxiety driven,” says Gupta. “We felt we could build a process that brings delight and certainty to users during their partner search. We realised this could be done through lots of data. That was how the idea of Betterhalf was born.”

Also Read: Betterhalf nets US$8.5M Series A from Finsight Ventures, Instagram and Dropbox co-founders, others

Founded in 2019, Betterhalf is a new-age matrimony super app that provides full-stack tech-enabled wedding planning services to urban Indians. 

The Bengaluru-headquartered startup aims to break the old approach of matchmaking apps in India with its advanced compatibility algorithm powered by Artificial Intelligence. It has integrated online matchmaking services assisted with human matchmaking, background verification, astrology, horoscope matching and wedding planning services that help users across all phases of their marriage.

“Our product is live across all three phases of marriage-matchmaking, courtship and wedding — all under one super app,” shares Gupta, who previously co-founded Spirit Continues, an educational software company.

With the app, Betterhalf targets users in the age group of 24 and 45 years. The startup claims the app has over 500,000 users and a million connections. 

Its services are available in 30-40 cities, including Mumbai, Pune, Delhi, Chennai, Hyderabad, and Bangalore. 

The role of AI

The users get up to seven to ten matches daily. Betterhalf then sorts these recommendations per their predicted preferences and compatibility. While picking the matches, the app also considers other deep layers besides keeping the mutual likes and dislikes in mind (about 60 per cent of its users need matching on religion, language and community, which is in-built into the product).

“Once you go through a profile and like it, you can send or accept connection requests. After connecting, you can start the conversation to see if you have found your soulmate,” Gupta explains. 

“Our unique AI algorithm has studied and processed over 500,000 compatibility use cases and weddings worldwide. With this much data and the personality quiz that analyses your 16 demographic and behavioural traits, it is easier to predict your preferences of age, height, salary, language, location and universally-accepted compatible grounds for people based on their social activities. It can match the grounds and land you a compatible partner,” he elaborates.

India’s matrimony and wedding market is a US$130-billion opportunity. The whopping market size can be attributed to the fact that Indians take tying the knot seriously, making matrimony and wedding services a growth-oriented business. 

India has many popular matrimonial sites, including the leaders, such as Bharat Matrimony, Jeevansathi, and Shaadi.com. 

Also Read: AI has the potential to perpetuate harmful biases, says Inmagine CEO

Betterhalf recently raised US$8.5 million from investors, including FinSight Ventures (which has previously invested in dating app Bumble), Instagram Co-Founder Mike Krieger, and Dropbox Co-Founder Arash Ferdowsi. Rebel Fund, Nurture Ventures, Leonis Investissement, Derek Callow (ex-CMO of Bumble), Scott Belsky (Founder of Behance), Brendan O’Driscoll (ex-Product Head of Spotify), Manik Gupta (ex-CPO of Uber), Punit Soni (ex-CPO of Flipkart), and Ravish Naresh (Co-Founder & CEO of Khatabook) also joined.

The startup plans to utilise the capital to strengthen its vision to become a marriage super app unicorn.

“We are the defacto Operating System for marriages and weddings in India. We work with customers and vendors/suppliers by plugging them into this OS to drive transactions and revenue for various categories like matchmaking, verification, astrology, gifting, venue booking, photographers, decorators, bridal makeup, and mehendi. The lifetime value of a Betterhalf customer grows thousands of dollars with a series of products, and inefficiencies in the market are high to be disrupted through tech,” he concludes.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post AI-powered Betterhalf aims to make online matchmaking easy for urban Indians appeared first on e27.

Green Li-ion, a lithium-ion battery recycling technology company based in Singapore, has raised US$20.5 million in pre-Series B funding.

Singapore-based decarbonisation VC firm TRIREC, Thailand’s Smart Energy Solutions provider Banpu NEXT, and Equinor Ventures, the corporate VC arm of Norway’s Equinor, participated.

The other investors in the round are EDP (Portugal), Envisioning Partners (Korea), SOSV (US), ER-V (UK), DPI Energy Ventures (Singapore/Japan), Entrepreneur First (UK), TES (Singapore), LINICO (US), Decarbonisation Consortium (US), ISDonseo (Korea), MBEP (US), and GS (Korea).

“This is an important first step in delivering the first US-made cathode material from battery waste and closing a crucial loop for the battery industry. The new funding will help us scale our manufacturing to deliver 50 Green Li-ion modular units per year for recyclers eager to launch commercially viable lithium-ion battery re-manufacturing operations,” said CEO and Co-Founder Leon Farrant.

Also Read: Green Li-ion closes US$11.6M Series A for European expansion, R&D

Green Li-ion has developed a novel technology that processes 100 per cent of all used lithium batteries. It recycles and reuses all metals to directly re-manufacture battery-grade cathode material ready for reuse in new batteries.

Its technology will be among the first in the US to produce battery-grade precursor cathode active material (pCAM), graphite, and lithium carbonate from spent lithium-ion batteries.

Green Li-ion has developed and prototyped its GLMC technology in Singapore. The Green Li-ion units, manufactured in Houston, Texas, are the size of a small house and can be shipped on flat-bed trucks in modules.

Once installed, they can process four to six metric tons of end-of-life batteries per day (up to 20 EV batteries or 70,000 iPhones) to instantly produce precursor cathode active material at battery grade, which satisfies US domestic supply requirements for the purposes of the US IRA legislation.

The first working commercial operation is slated to start production in H1 2023 at a plant operated by Aleon in Oklahoma.

“Battery rejuvenation technology is a crucial part of the electrification journey as it solves a critical battery material supply crunch problem by reintroducing raw materials into the manufacturing process. This lowers the cost of producing new batteries and reduces emissions related to battery raw materials logistics,” Melvyn Yeo, Managing Partner at TRIREC, said.

In April 2022, Green Li-ion closed its US$11.55 million Series A funding round, led by Energy Revolution Ventures. Over a year earlier, it raised US$3.45 million in seed funding. The greentech startup, with a presence in the US, Europe, and Australia, has raised approximately US$36 million to date.

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Dear Pro member,

The new developments don’t bode well for the IPO-bound F88.

The HCMC offices of the financial services company were raided by hundreds of police personnel on Monday. It is accused of employing hundreds of employees as debt collectors, threatening debtors and showing signs of extortion.

If it doesn’t fix these problems and come clean, it could jeopardise its 2024 IPO plans, as investors will likely stay away from buying its shares. The good thing is that F88 has about a year to resolve the issue.

In neighbouring Myanmar, the startup ecosystem is on the verge of collapse. Many startups have shut down, and many founders have fled to countries such as Thailand. There seem to be no genuine efforts from the junta to bring back these talents and revive the ecosystem. Where is the industry headed? Read this feature to get a clear picture.

Take a look at today’s ER for many other recent top stories from across Southeast Asia.

Have a good day!

Sainul

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Layoff spree continues at Sea Group’s Shopee
The job cuts amount to 10-15% of its regional headcount; The latest cuts are understood to have been undertaken in early February this year and affected all departments across markets.

Vietnam police to investigate IPO-bound lender F88
Police raided the headquarters of F88; The financial firm is under investigation for the alleged extortion of users in its debt collection activities; F88 reportedly has “hundreds of employees” acting as debt collectors.

Akulaku shareholders seek US$100M sale at up to 30% discount
In December 2022, the company secured US$200M from Japanese lender MUFG; This came after Siam Commercial Bank injected US$100M in Akulaku, pushing it to unicorn status.

SG launches probe into Terra after US$40B crypto crash
Do Kwon and his company Terraform Labs were accused of fraud by the US SEC last month; In addition to this, Kwon is facing arrest in South Korea for violating the country’s capital markets laws, among other alleged offences.

Fintech firm Fazz slashes jobs, freezes co-founders’ salaries
It conducted a round of layoffs on March 1; According to the company, these efforts are aimed at shifting the focus to its core strengths – payments, credit, and stablecoins.

Binance refutes that US company aims to skirt regulators
Binance US was established through a partnership with BAM Trading Services, a Delaware-based firm founded by CEO Changpeng Zhao in February 2019; However, it was not revealed at the time that Zhao had control over the BAM.

Indonesia offers US$110M in incentives to boost EV adoption
The subsidy programme has a quota of 200,000 electric motorcycles, 35,900 electric cars, and 50,000 motorcycles converted to EVs within 2023.

Accelerating Asia raising first venture fund for B2B tech startups in SEA
It targets to raise a total of US$11-15M for investments in about 8-10 pre-Series A startups; The firm expects to make first close at the end of Q2 this year.

Indonesia’s Broom raises US$8M Series A
The round was joined by Quona Capital, AC Ventures, MUFG Innovation Partners, and BRI Ventures; Broom provides financing or short-term loans for car dealers with their used car inventory as collateral.

Indoor mapping and navigation services startup Mapxus closes US$5M Series B
Japan’s Kawasaki Heavy Industries led the round; Mapxus recently joined hands with NOIZChain to co-create Honio, an indoor location-based Game-Fi metaverse.

Australian staffing platform Weploy expands to Vietnam
The Weploy app was officially launched in Vietnam on March 2 where it wants to capitalize on businesses’ demand to hire a large number of seasonal workers.

Khazanah looking to team up with SG-based Antler, sources say
The partnership aims to help Khazanah invest in early-stage startups; A Kuala Lumpur-based investor says Khazanah’s deal with Antler may mimic the programmes of national oil company Petronas.

This year, International Women’s Day calls for the tech startup ecosystem to look within
As an industry, before we can create a wide impact in the society we are operating in, we need to examine the ways we are doing things.

Ninja Van launches PR as a service in Singapore
The free service aims to boost the growth of businesses that ship with the express delivery firm in the city-state; It will help these businesses with media release development, influencer management, and event support.

Why your startup deserves to take part in the 2023 TOP100
Today is an exciting yet challenging time to be a startup in Southeast Asia. Joining TOP100 can help you brace for the storm.

‘It will take another 5-10 years to rebuild the Myanmarese startup ecosystem’
Myanmar-based startups and founders have migrated to countries such as Thailand to relocate their businesses or join corporate life.

There is an opportunity every winter: Stephanie Ping of WorQ
We encourage our employees to think out of the box to resolve challenges and lead change to improve the current workflow, says the Worq CEO.

How SoiLabs turns tofu manufacturing waste into cheese
To make it consumable, SoiLabs transforms okara into Soi-X, a proprietary intermediate that can be used for multiple final products.

The thrills of online shopping: Exploring Vietnam’s e-commerce haven
Before 2025, Vietnam is expected to own Southeast Asia’s second-largest e-commerce market, right after Indonesia.

In today’s unpredictable market, is customer retention possible?
Calling all startup founders in the Philippines! Don’t miss the chance to learn insights and strategies on customer retention at The Big Leap Roadshow Manila!

IMF calls for cryptocurrency regulation to ensure financial stability
Read on to learn more about the IMF’s call for cryptocurrency regulation and its potential impact on the financial industry.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Ecosystem Roundup: Sea, Fazz slash jobs; police probe into IPO-bound F88; Terra’s woes continue appeared first on e27.

Once businesses go down the route of implementing more tech for productivity, it can be hard to turn back. In most companies, technology platforms have become critical in managing day-to-day operations. There are applications for every aspect of every business, promising streamlined processes and increased efficiency. 

However, more productivity apps don’t always mean greater productivity. In fact, excessive reliance on workplace apps may be making businesses less productive. 

Research shows that on a day-to-day basis, the typical employee may switch between workplace apps a staggering 1100 times. Every moment spent logging in and out, changing tabs, searching for information, or inputting the same data in several places is a lost opportunity to be doing something more productive. Unsurprisingly, excessive dependence on digital platforms has a demonstrably negative impact on employee concentration, efficiency and motivation. 

The modern employee will typically check their emails on Outlook, check in-house messages on Slack or WhatsApp, attend meetings on Teams or Zoom, takes notes on Notion, then look at their workflows on Asana or Monday.com, search for data on Dropbox or Google Drive — and that’s before we even get into all the industry-specific platforms.

A recent survey revealed that, on average, large companies currently utilise a whopping  187 applications, up from the 77 utilised in 2015. Almost a third of these applications were estimated to provide little to no value to the organisation. 

When asked how they felt about such a glut of applications, 43 per cent of respondents admitted having to alternate between an excessive number of applications to accomplish their basic work duties. Meanwhile, 67 per cent of respondents suggested it would be easier to concentrate on work if critical information from all their applications were presented in a unified window.

Ease the financial burden

More apps also mean more subscriptions to manage. Each platform comes with its own pricing, and with ongoing global inflation, companies subscribed to dozens of services are especially feeling the financial pressure. 

The increased cost might be justified if the apps were actually helping employees be more motivated and productive, but they’re not. Ask any employee what they want in times of inflation, and they’ll probably tell you they want a raise or inflation benefits. Nobody wants to be spending more money on inefficient tech. 

Also Read: Open source: The secret to boosting Singapore’s startup ecosystem

A growing segment of the tech industry has grown increasingly aware of this issue and has come up with a solution. No-code, DIY-style business technology is on the rise, offering companies a centralised system that is easy to modify and customise without needing advanced IT skills.

Companies embracing this no-code technology report substantial cost savings. One small business owner in the US claims that after switching to the no-code platform Kintone, his company saved up to US$7,000 a month on their operations. 

By simplifying the technological landscape, companies can better streamline their workflows, increase employee productivity, and reduce expenditures.

Employee-driven transformation

A common misunderstanding among business leaders is the belief that implementing new IT is long, complicated, expensive, and requires a bunch of IT professionals. While this may have been true a decade or two ago, recent technology is changing the game. Anybody in any department can roll out a no-code platform. With customisation based on simple logic, they can immediately begin organising data and communication, automating workflows, and streamlining collaboration. 

High implementation costs and steep learning curves are the legacies of traditional workplace technology. Employees know where their bottlenecks are. They know which tasks are tedious and repetitive verses which tasks add high value to the company. No-code platforms are geared toward automating and simplifying the menial so employees can focus on the meaningful. 

Make open communication the default for productivity

These days, the biggest barrier we witness to embracing digital transformation and no-code systems is not cost, time, or functionality. It’s culture. For centralised no-code technology to be fully effective, companies need to embrace openness and information sharing. 

Traditionally, companies use closed, siloed systems for most of their communication. Email and chat work on a need-to-know basis, where a sender has to proactively include recipients for them to have access to information. We’ve all experienced having to put our work on hold because we’re waiting for a confirmation email or an important document. 

No-code proposes a solution to information bottlenecks by making open information the default. All data uploaded to the platform can be accessed by anyone within the company. 

Also Read: Why venture capital is going big with cloud mining

In today’s rapidly changing business environment, information sharing is essential for companies to remain competitive, especially in periods of rapid growth. Having access to the latest and most accurate information at all times enables employees to work faster, make better decisions, and collaborate more seamlessly with one another. 

Companies accustomed to strict information control may view the open nature of a centralised no-code platform with suspicion. No-code developers are aware of security concerns, so while open is the default, users can easily impose privacy restrictions for sensitive information, such as human resources and financial data. However, by switching attitudes about information from “Should, we share this?” to “Is there any reason not to share this?” I believe companies can find a better balance between security and accessibility. 

Bring people together

Within any company, different departments have a need for distinct tools, functionalities and communication channels to attain the best productivity norms. Many companies use this fact to justify purchasing a broad range of highly-specialised tech solutions that don’t communicate with one another. The result is communication and data silos, as well as a drop in motivation among users having to juggle an excessive number of tools. 

In almost all cases, interdepartmental cooperation and synergy are more valuable than the potential productivity gains of any hyper-specialised application. No-code prioritises cross-pollination, allowing entire companies to have both joint and separate spaces for communication, collaboration and information sharing. The downstream effects on teamwork and company culture cannot be overstated. 

Given the benefits of no code in terms of cost, productivity, employee ownership, information sharing and morale, it’s no wonder the sector is experiencing double-digit yearly growth. In the modern workplace, there is nothing more valuable than people, and no code puts people back in the centre. Moving forward, employees will continue to demand a more comfortable, efficient and collaborative work environment. There is no more natural solution on the market today than no-code.

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Image credit: 123rf-orathaimukky

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Communities play an essential role in societies. They bring people together, provide a sense of belonging and enable them to grow with like-minded individuals.

In the startup world, these communities serve an incredibly valuable role — more so for underrepresented entrepreneurs such as women founders. The myriad of challenges women founders face are well documented (among them a lack of female role models, obtaining funding, and reckoning with feelings of inadequacy).

Therefore, these women-centric communities help them support one another during their entrepreneurial pursuits and in their fight to overcome the unique barriers facing them.

Community support for women founders is the way forward

My team and I actively hear about the importance of communities from women entrepreneurs who participate in our Google for Startups programs, most recently from two Southeast Asia-based founders who graduated from the 2022 Founders Academy, a mentorship-focused program that connects women-founded startups to Google’s resources, mentors and networks.

Azalea Ayuningtyas, the Founder of Indonesia-based business solutions startup Krealogic, shared these key learnings from the program, “Don’t be afraid to ask for help! Asking for help is not a sign of weakness, and finding the right communities and mentors can really take you places.”

Also Read: #She27: Celebrating 27 women shaping the future of tech

In a similar vein, Levana Sani, Founder of Singapore-headquartered biotech startup Nalagenetics, said, “The best part about this program is the friends you get to make. I now know I have friends all over the world, just doing great things. It feels like I am a part of a community.”

The Founders Academy has supported 27 women-led startups in the Asia-Pacific (APAC) from 2020 to 2022: seven startups in 2020, 10 in 2021 and 10 in 2022, a testament to Google’s ongoing commitment to level the playing field for founders, especially those who haven’t been afforded the same support or opportunities as others. 

Our reason is simple. If women and other underrepresented founders aren’t given the same opportunities to build innovative new companies that bring products and solutions to the world, we all miss out, whether it’s solutions to improve your day-to-day life or drive economic growth. That’s why supporting all types of founders is important to us.

In the last three years we’ve run the Founders Academy in APAC, we’ve observed that women founders are increasingly innovating in health solutions. DAL Company, a female technology startup from Korea, uses AI and data to help female patients who suffer from menstruation, female diseases and sexually transmitted diseases, diagnose and treat their pain and discomfort.

India-based Zyla is a care management platform that provides personalised health interventions that include nutrition, physiotherapy, exercise and medication to deliver continuous care to patients.

Through mentorship and workshops, the Founders Academy has not only helped women founders take their businesses (like the ones above) to the next level but grow as leaders and entrepreneurs. 

Sani shared, “Founders Academy came at a time when I personally needed professional coaching. A lot of alternatives were highly expensive and not practical for the company, so this program ticked all the right boxes.”

She outlined, “I got coaching. I got to have hard but necessary conversations with my co-founder. I also got feedback from investors about the company.”

Also Read: #MeToo in startups in SEA and the silence surrounding it is deafening

Ayuningtyas added, “Founders Academy helped me improve my leadership and communication skills, and more importantly, helped me connect and learn from other amazing women founders and mentors from the Google community worldwide.”

Since both founders graduated from the program in November 2022, they have seen significant growth in their startups. Sani’s Nalagenetics secured two major biotech clients and has been increasing its revenue by 80 per cent month over month, while Ayuningtyas’s Krealogi has partnered with a fintech firm to provide financing solutions to their MSME users and is finalising a pilot with a minimart chain to offer curated products to their users. 

Final thoughts

Partnering with startups and watching them grow is what drives my team and me every day. Supporting startups will continue to be an essential part of Google’s work globally, especially in APAC, a hotbed for innovation, entrepreneurship and home to one of the world’s most tech-savvy, youngest and most ambitious populations.

We believe that startups are solving the world’s important challenges with agility, innovative technology, and determination, and we’re proud to help. Through various Google for Startups initiatives, we hope to bring our products, connections and best practices to help even more startups — especially the underrepresented ones — thrive and grow their businesses. When they succeed, our communities and economies succeed, and everyone benefits.

–

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The GrowHub, a Web3-enabled plug-and-play ecosystem builder focusing on food traceability and carbon credits, has closed a US$3 million pre-Series B investment round.

The investors include strategic individuals, including the company’s CEO and founder Lester Chan.

The GrowHub will use the funds to continue building technology offerings and strengthen its technology capabilities as it expands across the Asia Pacific region.

The agritech startup has also appointed Chai Chun Kiat as CTO, Aaron Loo Jian Lin as Chief Innovation Officer, and Sam Yen Rong Jiun to the advisory board.

Kiat was previously a CTO at Gorila Mobile and Technology Lead at AL2, while Loo was COO at Gorilla Networks. Yen was previously a Vice President at the Bank of America.

Also Read: Malaysian startups, MNCs have started recognising the importance of Web3: Jasmine Ng

The GrowHub began as a farm-to-table solutions provider and a strategic export partner of premium goods from producers looking to reach new audiences in Southeast Asia and beyond. Over the years, it has shifted its technology focus to enable producers and consumers to track, market and understand consumer behaviour and patterns using its Web3, NFC and QR code solutions.

Consumers across the Asia Pacific can interact with these products in their native language, understand products more intimately, and engage with relevant advertisements.

Its clients include businesses and shoppers in Singapore, Australia, Japan, Indonesia, and Malaysia.

In addition to tracking the footprint of food from producer to consumer, The GrowHub also facilitates transparency and reliability in tracing carbon credits with its SaaS platform. The company allows producers, funders and regulators to differentiate and authenticate carbon footprint at source, with initial use cases deployed around soil carbon market integrations.

The firm focuses on the flow and user experience between the network of retailers, distributors, producers, and end-consumers in a fast, secure, credible, and accessible manner.

The GrowHub claims it has reached hundreds of thousands of user interactions per month, growing at 20 per cent. The GrowHub closed 2022 with US$750000 in estimated revenue. It expects to increase this figure by 4x by the end of its fiscal year.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post The GrowHub nets US$3M pre-Series B to improve food traceability, carbon credits in APAC appeared first on e27.

As we get ready to celebrate International Women’s Day, we are reminded of the importance and urgency of this year’s theme, which is #EmbraceEquity. In this article, female leaders from Foodpanda Thailand and SmartOSC share their insights and actionable advice for moving forward for change in the tech industry.

Striving ahead

Within the tech industry, Southeast Asia has been seen as a force leading the way for change by steadily narrowing the gender gap when compared to worldwide figures. A collaborative report from BCG and Singapore’s Infocomm Media Development Authority released in 2021 showed that women accounted for 32 per cent of talent in the tech sector, slightly higher compared to the 28 per cent global figure.

When we zoom in closer to different areas within the region, we can see incredible work being done to boost the foundations for women in tech as well as increase representation.

While the Philippines has remained the best-performing country in Asia in terms of gender parity according to the Global Gender Gap Report, Singapore has the highest percentage of women in the C-suite, with 14 per cent female CEOs and 26 per cent female CFOs, as well as the highest percentage of 44 per cent of women in the overall workforce.

In Malaysia, we have seen the launch of MyDigitalMaker to increase the routes to society 4.0 in a fair and accessible way. Adding to this is  Girls in Tech Vietnam, who are on a mission to eliminate the gender gap within the tech industry.

Also Read: #She27: Celebrating 27 women shaping the future of tech

Speaking about women entering the STEM industry on the latest episode of Commerce Talk with SmartOSC, Akanksha Rastogi, Head of Data and Insights at Foodpanda Thailand, said, “We’ve started to see a lot more force in terms of women starting to achieve great heights and literally proving their mettle, inspiring so many others behind them. It’s going to set off a chain reaction, a positively reinforced change, and we’ll see more and more women start to enter this industry.”

All of the strides for change have been good news stories and a step in the right direction. However, with the current market volatility, the tech industry risks losing the gains it has made, as evidenced by the disproportionate layoffs for women in tech compared to men, bringing about a rippling effect of loss on the hard-won diversity and inclusion efforts of companies across the SEA region.

Impacting future growth

In the midst of disruption,  there is a cry out for sustained action, proving even more so that achieving better representation for women in the industry is more important than ever.

As many as 80 per cent of jobs in Southeast Asia will require workers with basic digital literacy as well as applied ICT skills by the year 2030, according to a report published by Dalberg. To meet this need, the report stated the necessity of harnessing the skills, abilities, and perspectives of the full working population — not just the male half.

Adding to this argument is research conducted by McKinsey, which states that advancing women’s equality in the region could help contribute to a US$4.5 trillion increase in their collective annual GDP by 2025.

To reap these benefits, organisations need to do more to attract women to tech jobs and to retain and promote them.

Speaking about the importance of women in STEM fields, Phan Thi Hanh Le, Deputy CEO at SmartOSC, states, “As the tech industry grows and technology advances, so should our understanding of how best to incorporate women into the mix. We want to make sure that whether they are working full-time or part-time, full developers or just interested in learning more about how to code, they need to be shown that they have a place to be inspired and work towards both their professional AND personal goals.”

Adding to this, Rastogi says, “We’ve started recogniSing the unique elements that women bring to even STEM fields. There is nothing in how our brains are wired that makes us less successful. As a matter of fact, it makes us probably more so likely to succeed in these fields. And now organisations recognise that. There are programs and scholarships that are helping women break out from traditional barriers and nurturing talent, and increasingly you see this across the space.”

Recognising the problem

When we look at the possible causes for the gender disparity in Southeast Asia’s tech industry, we find ourselves facing many of the characteristics that form what is known as a wicked problem. A problem that has many interdependent factors, making it seem impossible to solve. Factors such as cultural and traditional beliefs, unconscious and conscious bias, structural and educational barriers, and organisational culture come out time and time again.

Speaking about this, Rastogi states, “I think one of the primary reasons why we see a low percentage of women in STEM fields is simply because we have an unconscious bias, even as educated folks. We sort of tend to have these biases when we are even raising our own kids. While being well-meaning, we still sort of give that impression to kids that boys are very good at science and girls are great at art. This is a message that we sort of reinforce in our homes, in social gatherings, or even at times in schools and universities.”

“I think there are stereotypes that women are not as ambitious, or they’re going to leave soon, or they’re not as capable as men in certain fields, and I think it’s really important to challenge them.”

Moving forward and enabling change

Companies must take action now and continue to create a more supportive and inclusive environment for women. In a tech survey report conducted by Ivanti, the five most important factors to attract women in tech fields to a new role were the following:

• Equal pay and benefits (63 per cent)
• Clear and well-documented career progression opportunities (52 per cent)
• Flexible working policies (51 per cent)
• An all-inclusive culture (38 per cent)
• Mentorship programmes (23.5 per cent)

Nearly 75 per cent of respondents highlighted the importance of industry collaboration and partnership with schools and universities to encourage more women to take up STEM subjects, build the next generation of women in tech, and have more women speakers represented at high-level tech events.

Speaking about what companies can do to improve, Chien Le says, “The future of the tech industry lies in innovation and technology. If there was ever a solution to this problem, it would be for corporations to create new programs that address workplace culture and diversity. These kinds of programs would provide support and resources to women throughout their careers as well as business management training.”

Also Read: Breaking barriers: My journey with Airwallex this International Women’s Day

Adding to this, Rastogi says, “I think we need to change the way we view parenthood as well.  It’s not just the mom’s job to take care of the child. It’s a shared responsibility, and we need to support that, both in terms of policy and culture. And I think, as companies, we need to be more mindful of the fact that women have different needs at different points in their lives, and we need to create an environment where they can thrive regardless of where they are in their personal lives. Because if you have a diverse and inclusive workplace, you’re going to have better ideas, better innovation, better solutions, better products, better everything.”

In Southeast Asia and around the globe, there is no doubt that we still have a long way to go regarding achieving gender equality. In order to keep moving forward, more conscious efforts need to be made to not only recruit women into the industry but also to give them the tools they need to stay.

By doing so, we can help to build a more inclusive and innovative industry for future generations and future success.

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Groundup.ai, a Singaporean startup helping industrial companies prevent unplanned downtime of industrial assets and improve workplace safety, has raised US$1.8 million in its seed funding round.

Wavemaker Partners led the round, with participation from SEEDS Capital and unnamed angels.

The company will use the investment to grow its in-house AI and software team and capabilities and to expand into international markets, including Qatar, Australia and Japan.

Groundup.ai was founded by Leon Lim, a serial entrepreneur with two exits, and co-founded by operations and chemical engineering veteran Alex Wong.

Also Read: How the Internet of Things is making the world a safer haven

Its core solutions lie in condition-based monitoring and predictive maintenance to help companies prevent unplanned downtime of heavy machinery. It also uses Computer Vision to improve workplace safety and save lives.

Its sound-first predictive maintenance platform is done by deploying its proprietary IoT sound sensors and GINA AI platform. GINA picks up sound anomalies, which indicate potential machine issues, so that such issues can be resolved before any catastrophic breakdowns happen, helping clients save millions of dollars in the process.

Groundup.ai’s solutions support industrial companies to take a proactive approach to machinery reliability and workplace safety, ultimately helping to improve the lives and work conditions of those in the industrial sector.

Its solutions have been deployed across various industries, including manufacturing, maritime, and construction.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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Women in politics face a unique set of challenges that are not experienced by men. They are often subjected to sexist attacks, gender-based discrimination, and harassment both in the physical world and online.

Misinformation and cyberbullying are the two biggest problems that women in politics and women in the public sphere face today. Many of the cases we have seen on the internet show that women in public receive enormous hate speech because of organised misinformation distribution more than men. While many politicians were forced to resign, some cases led to violence, robbery, and even murder.

Addressing the misinformation and cyberbullying

Often, this misinformation and hate speech is impossible to stop at its peak, and the platforms like Facebook or Twitter do not provide an effective way of dealing with this or correcting the misinformation. These issues have serious consequences and can harm women’s reputations, affect their careers, and even threaten their safety.

Also Read: #She27: Celebrating 27 women shaping the future of tech

Several countries face these issues, and female politicians across the globe have resigned from their roles due to organised misinformation and cyberattacks. This has happened in Brazil, the UK, and many other countries. In my country, Mongolia, for example, I have resigned from my government role as a result of organised political attacks on social media.

From my own experience, I joined the Government as a Chairwoman of the Communications and Information Technology Authority at the age of 27 with a mission to digitise Mongolia’s government and public service.

As soon as I joined, we started the E-Mongolia platform and launched it on 1 October 2020. By the time I resigned, we had digitised over 2,000 government services and gained over two million users, which is 90 per cent of the adult population of Mongolia.

Since digital transformation has been growing very actively, we established a Ministry of Digital Development and Communications of Mongolia. I was first appointed as a State Secretary and soon promoted to Deputy Minister. My vision has been to transition Mongolia to a Digital Nation.

In late 2022, videos of me speaking at a conference in Saudi Arabia the year before were cut, mistranslated, and spread on social media. This led to hate speech directed at me as a woman and as a young leader, with my family also at the receiving end of some attacks. My case was not the first case and will not be the last.

Working towards creating a more equitable and just society

Globally, there has not been any efficient way of monitoring misinformation and its harm. Even though some countries have taken action to regulate it through privacy laws, we have yet to see a  positive impact.

Therefore, regulating oligopolies in social media and, given the nature of the internet, these efforts have also proved to be problematic. To address these issues, we need a coordinated government, civil society, and social media companies.

Also Read: #MeToo in startups in SEA and the silence surrounding it is deafening

Governments can enact legislation that protects women in politics from harassment and discrimination. Civil society can work to raise awareness about these issues and advocate for better policies and monitor actual implementation. Tech companies can take a more proactive approach to monitor and remove harmful content that targets women in politics.

It is very important to create an equal environment in politics for our future. Therefore, we should create a system that provides legal support and training on how to navigate online harassment. It is also important to create a safe space for women in politics to share their experiences and connect with each other, such as through women’s political networks and NGOs.

Ultimately, it is crucial that we work towards creating a more equitable and just society where women in politics are not subjected to gender-based discrimination, harassment, and violence. This requires a collective effort from the government, civil society, tech companies, and individuals to challenge patriarchal norms and promote gender equality in all spheres of life.

Only by working together can we create a world where women in politics can thrive and make actual contributions to society without fear of harassment and retaliation.

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The Year 2023 is fast into its first quarter, and businesses around the world are keeping close tabs on their performance as the global economy weathers high inflation and an impending recession.

The reality is even starker for local SMEs in cosmopolitan Singapore, where they are more vulnerable to global economic fluctuations.  Every business decision made holds much more weight in the future of the company as more SMEs in Singapore look to expand into overseas markets to scale operations while searching for cost efficiencies.

Singapore SMEs received the news in the nation’s Budget 2023 that this year’s focus would be on talent building and seizing new opportunities amid the heightened global uncertainty. This comes in line with the merger and acquisition objectives of Japanese companies looking to expand their business overseas, driven by the search for more cost-efficient production channels, new markets for expansion or diversification of revenue and cross-cultural management capabilities.

For Singapore SMEs, Japanese investors offer great benefits as the interests of both parties are aligned with the focus on growth in ASEAN. At the same time, for a Singapore company looking to enter the Japanese market, being backed up by a Japanese company will position itself in the trusted keiretsu network. The Japanese word “keiretsu”, which means “group”, describes a strategy that encompasses mutually beneficial relationships among independent companies through shared goals that provide a level of trust.

A gateway to shared values and synergistic fit

With the increase in Japanese companies looking to diversify their business through investments in ASEAN, Singapore is primed as the gateway to ASEAN in the post-pandemic era. This is even more so in recent years, with Japanese tech firms expanding via Singapore.

Also Read: What businesses should take note of before taking the M&A leap

Japanese companies look to Singapore companies as esteemed long-term business partners, placing high importance on having a cultural fit often beyond typical synergies in M&A. By “cultural fit”, we mean that instead of just integrating two different cultures into one, Japanese companies tend to look for the assimilation and accommodation of their Singaporean partners’ company culture.

This provides local SMEs with a greater sense of stability and assurance that their corporate culture is appreciated. Both parties would be committed to the growth of their businesses while preserving their respective company culture. Thus, setting the stage for a successful M&A.

The emotional strings that come with M&A

M&A is more than a marriage. More often than not, M&A between organisations involves more stakeholders and impacts more people than a marriage between two families. The risks run higher, and failure can arguably be more detrimental.

Many Singapore SMEs are family or founder-led businesses where the M&A process is very much an emotional journey vis-à-vis a transaction one. Such transactions have the same challenges as any M&A transaction, with the added complexity of the family’s or founder’s strong attachment to the business.

Being a once-in-a-lifetime transaction, the financial dependency of the owners’ wealth in their business and the strong emotional bond with the business are distinct characteristics of these transactions.

A founder-led business itself with over 30 years of history, the track record of Nihon M&A Center is built upon its expertise in intermediary services in mergers and acquisitions, serving as a link between companies to bring about the agreement in fulfilling the intended outcomes of each transaction.

Preserving corporate identity, observing respect for autonomy, and maintaining the status quo of an acquired company are prioritised by the firm’s network of Japanese investors.

This means that the management team of acquired companies retain significant control of the business and maintains their unique identity and culture, with the support of the Japanese parent company for their business plan post-transaction.

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