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Sequoia wants to help young companies get their product right at #Echelon2019

“It’s what you do in the dark that gets you in the light.”

Get insights from the best of the best at Echelon Asia Summit 2019, happening on May 23-24 at the Singapore Expo. Get your free Starter tickets here.

An interesting realities about running a startup is the fact that early decisions often impact the ability for the company to scale when it grows. A clunky product might hold back a fantastic business model. Truly global companies usually build a product that fall into the category of, “the more you use it, the more you love it”.

Once we get past the ideation stage, startups are all about company building — it’s execution over everything.

But how exactly should an entrepreneur go about ensuring their product has what it takes?

Pieter Kemps, a Principal at Sequoia Capital, will be speaking at Echelon on how early-stage startups can shape products, build for scale and create categories in Southeast Asia.

The VC will talk about what that means for Founders – and how they can build and tap their network for help, hacks and hands-on expertise.

Kemps has a long history in Product Management — having started a company in Japan at a young age. According to his company bio, he is fascinated by the idea of building something from scratch.

This requires hard work, tenacity and an ability to take feedback. Kemps mentions a quote from Michael Phelps in his bio,

“It’s what you do in the dark that gets you in the light.”

In many ways, the parallels to entrepreneurship are obvious.

The session will be moderated by Bhaskar Prabhakara, the Co-Founder and CEO of WeInvest. WeInvest is a B2B2C robo-advisory platform. WeInvest has built a platform for wealth management that it sells to institutions so they can provide the service to their customers.

Get insights from the best of the best at Echelon Asia Summit 2019, happening on May 23-24 at the Singapore Expo. Get your free Starter tickets here.

Photo by True Agency on Unsplash

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An end of Google-Facebook advertising duopoly could be a boon for adtech

A Facebook Founder called for the breakup of Facebook this week. Will it come to pass?

Calls to break up the big tech companies may be overdone depending on which side of the regulatory and political aisle you are on. But a loosening of the grip by Google and Facebook on the global advertising market will prove to be a good thing for a burgeoning ad tech industry.

Any time a monopoly or, in this case, duopoly is unchallenged for too long it harms innovation. That’s certainly become true of ad tech of late. Google announced earnings at the end of April and, as expected, we saw its advertising businesses increasingly pressured by newcomers like Amazon – sending the Alphabet stock down 15 per cent, its worst day decline in nearly seven years.

To be clear, I’m a fan of Google and Facebook. They’ve done amazing things for global advertising, connecting billions of consumers seamlessly to brands and marketers. But that has sometimes come at the expense of opportunities for smaller ad tech providers and would-be innovators.

The first signs of trouble for the duopoly became apparent during the previous earnings season in February, when Amazon reported that it earned more than $10 billion in 2018 income – most of which came from its advertising business. That raised eyebrows.

Indeed, Amazon’s e-commerce platform, which has a natural ability to gather consumer data, gives it an edge over Facebook. Google is more diversified with its search business and its Android mobile operating system, which powers most of the world’s smartphones. But traffic acquisition costs for Google have been very obviously rising as a percentage of revenue.

Competition is forcing both Facebook and Google’s costs up in the advertising space. With Amazon as the new competitor, we will move into a healthier state of affairs with a little bit more room for smaller ad tech players to steal slices of the giants’ pie.

I’m a strong believe that ad tech start-ups and innovators have an important role to play in the future of advertising, with a few big challenges on the immediate horizon that they can help solve.

One big challenge is around how to reduce ad loads on consumers, by which I mean how advertising evolves to continue delivering margins and profits while reducing the disruption caused to consumers. This tends to happen when ads are not delivered seamlessly in a way that flows with the content experience they are consuming, be it on a browser, TV, tablet, or mobile.

For example, rather than interrupting a consumer watching a TV show with a regular advert, a mixed reality experience prompt could be offered that invites them to learn more about a product they just saw on their favourite TV show. It could be Tesla’s latest electric car or Samsung’s new folding smartphone.

The technology already exists for the mixed-reality prompt to be delivered to the consumer’s tablet or smartphone, though the content was being watched on their TV.

Also Read: 6 Echelon Asia Summit 2019 exclusives the investor community can look forward to

Another use case could include allowing a fashion store to send a shopper, who made it to the changing room but not the cashier, a promo through social media inviting them to go back to the store to complete their purchase – with a suitable incentive. This kind of offline-to-online tracking technology already exists, but challenges remain around how to implement it in a way that is not creepy.

Ads need to become more relevant and targeted, but there is also a deeper question about the need for advertising to be reinvented altogether. If there is to be a rebirth of the industry – revolution rather than evolution – ad tech players are going to play a key role in how that’s conceptualised, achieved, and delivered.

With a more competitive advertising industry, the guys at the top (Amazon, Google, and Facebook) will be forced to innovate more quickly and aggressively in terms of what they offer the buy and sell sides. This will mean many more ad tech acquisitions and greater market incentives for breakthrough technology to be built, bought, and sold.

I’m optimistic about the end of the Google-Facebook duolopoly in advertising and so should you be – especially if you’re one of the little guys. It will prove to be a big boon for ad tech.

Also Read: (In photos) A stroll around STATION F, one of the biggest startup campuses in the world

Photo by Glen Carrie on Unsplash

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Malaysian salestech startup SalesCandy sets foot in neighboring regions

SalesCandy just launched in Malaysia 18 months ago

SalesCandy International Sdn Bhd, a Malaysia-based salestech startup, has entered Thailand, the Philippines, Indonesia, and Vietnam. The company said it has struck multiple contracts across Southeast Asia in the first quarter of 2019 and is readying up operation in the said countries.

“With a combined population of more than 650 million and smartphone penetration in Southeast Asia are on the rise, the adoption of digital solutions and technology in sales management, are still lagging behind. We are confident that our product will help businesses improve their sales productivity by closing more sales and bringing down cost per sale.” said Stanley Chee, CEO & co-founder of SalesCandy.

SalesCandy’s product is SalesCandy LMS that features a mobile app action-based Lead Management System (LMS) with a real-time routing mechanism. This allows a salesperson to respond to enquiries coming from multiple online and offline channels within five minutes.

SalesCandy LMS (lead management system) app is currently available in four languages: English, Thai, Vietnamese, and Bahasa Indonesia.

SalesCandy claims that right now, its platform serves more property players than other sectors.

Also Read: New US$50 million venture fund launches in the Philippines

Beyond regional expansion, SalesCandy said it has a bigger vision. “We aim to create tighter coordination between the property developers, real estate agencies, and the banks, that they can use SalesCandy to shorten the sales journey of home buyers – from the point where they book a unit to getting a mortgage loan. In the next 3 to 12 months, we will centre our product rollout around developing an ecosystem that helps both our banking and property clients to bridge the missing links, improve sales service level, and ultimately, close more sales,” said Chee.

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What your business can and should learn from Arya Stark

Don’t be Jon Snow, be Arya Stark

Before you start, please be reminded that:

via GIPHY

Another day, another Game of Thrones’ appreciation post. We’ve gone through most of the episodes in this season and the last one was a letdown.

All remaining characters are regressing instead of progressing (cough Jamie cough), and yet we can’t get enough of the show.

If there is one good thing that is a silver lining of hope in all of the darkness that this show has brought upon us — literally and figuratively, it’s no doubt Arya Stark.

Allow me to gush. After the long-awaited Battle of Winterfell, we can confirm, amid the darkness, that Arya is the real hero in this saga.

Arya is consistent, quietly get the job done, and focussed. Sounds like a reliable character to have in your corner, right? You know where this is going because we’re gonna talk business now.

Arya Stark is a good business personified.

Arya means business

I did myself a service by rewatching the first episode of the first season simply because I have a soft spot in my heart for its epicness. And there she was, Arya, the teeny tiny thing that showed potential since day one.

When her privileged family put her baby boy Bran for training and her for sewing alongside Sansa, she put on some bow and showed what she’s capable of with the weapon. She made her half bro noticed her enough to forge her a sword.

So that was the start. It’s instilled in her that she’s born for this, to fight with skills. She convinced her father Ned Stark (sob) to let her train with Syrio Forel, the swordsman who famously coined the phrase “What do we say to the God of Death? Not today”. That helped her become the hero she’s meant to be.

A good business should mean business. Going into your first entrepreneurial foray should be with the same hustle Arya had that will set the tone for the entire journey. It’s the first step that always counts.

Also Read: Jakarta comes out as “challenger” to global startup ecosystems: Startup Genome Report

This is especially for you who just started: does this business you’re about to work your ass for really means business? With that being said, does it know where it wanna go with the market, the promotion tool, the audience, the sustainability plan, the monetisation, and the solution it offers? What’s your plan?

Arya has seen some horrors but never loses hope

This is rather corny, but I think a good business should walk through the valley of death and survive, come out on the other end ready to fight for another day.

Arya was there when her dad was beheaded, her first sword teacher was killed and she had to throw away her identity and her rights as a Lord’s daughter to survive. And that was just the start.

When you really believe that you have something to offer, first, second, third, and many more failures to come shouldn’t stop you. This is if you start your business with good intention and back it up with enough research and reliable data.

Arya has a to-kill list

This is my favourite. Do you have your own to-kill list?

It’s good to be organised like Arya when you run a business. Surely you aren’t meant to have one role in your life, and this way, you can have an overall clearer view on what to do next without being all over the place.

For me personally, it’s hard to keep a list and tick it all the way through the end. Arya recites her list before she goes to bed, something that she learned from the other.

It’s good exercise, what she does. Before you go to bed, check again all the things you have accomplished that day and prepare your to-kill list for the next day.

It’s hard to keep at it, sure, but the rewards of finishing a list is also a good mental health sport.

Arya is humble enough to learn from people she despises

Syrio Forel and Jaqen H’ghar are two characters most notable for their roles in grooming Arya to be a fighter. But Sandor Clegane, aka The Hound, I personally think was the one who honed Arya.

The Hound was initially on Arya’s list to kill because The Hound kills Mycah, Arya’s friend. But getting stuck together helped Arya realised the other side of The Hound that wasn’t so bad after all.

Arya even learned how to be sensible and merciless from The Hound. To cut the bullshit and just get the job done.

In business, learning moves from your opponents is crucial. Being humble enough to take what it is that they do well may seem unoriginal or downright imitating, but if you think of it as a learning process and put aside the so-called idealism, you might be surprised by what you can find.

Arya is No One

Another favorite aspect of Arya is that she’s a part of this Gods of death cult, wandered far enough to the foreign land of Braavos to join the training under faceless man Jaqen H’ghar and to essentially become No One.

Arya was forced to completely strip her identity, became blind, and couldn’t really emphatise with people outside the cult as she is molded into an assassin.

Arya’s situation, of course, couldn’t be translated literally into how you should run a business. Becoming no one in business means to work on your part quietly and diligently, to keep going with the pace and not rush things, because your business could use a level-headed runner.

Like Arya, treat each experience as training until you get good enough to let other people chime in and accelerate.

Arya is true to herself

In the end, Arya couldn’t really make it through the faceless man training without keeping her identity when it should be otherwise. She ended up not killing Lady Crane, when the murder assignment was given to her by Jaqen H’ghar. So, she could not become a faceless man herself because she couldn’t kill an innocent person.

She is and will always be Arya Stark, the girl who isn’t meant to be a lady and therefore must reject Gendry’s cute proposal in the last episode. She knows what she is and how she wants to live her life, and she’s never got carried away in what other things offer.

In doing business, even after winning and learning, in the end a business needs to go back to its original mission. Unless the survival requires a drastic change, the true mission that can carry the whole company forward should be at the core of everything the business is doing.

Also Read: New US$50 million venture fund launches in the Philippines

If that’s not the case then it will be easy for the business to not be able to withstand challenges that come with growth and to fall apart.

As most of our Game of Thrones’ protagonists, Arya, of course, is not without shortcomings. Despite coming so far and growing so much that she can now co-exist with her sister Sansa after growing up looking down at her, Arya is merciless for her own good and at times can come across as cold-hearted.

This is of course not a good trait of business owners, but her badassery made up for it.

Here’s to businesses becoming more like Arya Stark, the no-nonsense, true hero of the Seven Kingdom.

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Jakarta comes out as “challenger” to global startup ecosystems: Startup Genome Report

Startup Genome has released its latest Global Startup Ecosystem Report, unveiling new categories

Jakarta, the capital city of Indonesia, has come out in the list of global cities that are set to challenge the domination of global startup ecosystems such as Silicon Valley and Beijing, according to the latest Global Startup Ecosystem Report by Startup Genome.

Launched at The Next Web Conference, the report included the list of 12 global cities (“Challenger”) that are currently not included in the main top 30 global startup ecosystem list, but is believed to have the potential to make it to the main list in the next five years.

Topping the list is Greater Helsinki, followed by Hangzhou and Jakarta.

As a region, Asia Pacific dominated the list with seven cities, followed by Europe with two cities.

According to the report, key characteristics shared by the Challenger cities are: Regional leadership and sub-sector leadership.

Also Read: Startup Genome: What you need to know about the Singapore startup ecosystem

In the general global startup ecosystem list, the only Southeast Asian city to make it to the top 15 list was Singapore at 14, which was down two positions from last year.

While the city state ranked first in terms of aspect such as connectedness, it ranked fourth in terms of funding, market reach, and knowledge.

The rise of deeptech

In addition to ecosystem rankings, the report also revealed the fastest growing category in the startup industry: Deep tech, or sub-sectors that “require tangible IP to success.” For example: Life sciences, robotics, or AI.

“Nearly half (45 per cent) of startups being created globally now are in deep tech-related sub-sectors -twice the share they made up in 2010-20115. Moreover, the four fastest growing startup sub-sectors are all deep tech-related,” the report stated.

It also stressed that the rise of deep tech provides a “real opportunity” for growth based on each startup ecosystem’s existing strengths.

Also Read: Genetic testing startup Nalagenetics raises US$1M pre-seed funding round

“Places that would not be anywhere close to the top ecosystems in software have the potential to build a thriving startup economy leveraging their universities, research capacity, and traditional economy strengths. For instance, while Lausanne-Bern-Geneva, San Diego, and Munich are not among the best software startup producers, they all made it into the top 30 global startup ecosystems thanks to their performance in deep tech and life sciences factors,” the report further explained.

“Other ecosystems like Seoul and Tokyo — both massive patent creators — are Challenger ecosystems with a real chance of being part of the top 30 ecosystems of the future,” it continued.

Image Credit: Franck V. on Unsplash

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6th set of exhibitors to feature 15 companies who will take Echelon by storm

15 more exhibitors to showcase their groundbreaking ideas at Echelon Asia Summit 2019!

Echelon Asia Summit 2019 Exhibitors

There are lots of great reasons for you to come to Echelon Asia Summit 2019! With more than 12,000 people attending from over 30 countries, the Echelon Asia Summit brings together a full-range of personalities across the field of tech: from tech enthusiasts, to up-and-coming startup founders, and even to leaders and experts! This makes Echelon Asia Summit 2019 the perfect opportunity for you to brush elbows with potential future partners, investors, colleagues, or other like-minded people who might appreciate your ideas!

More than 120 speakers will also be sharing key insights on emerging trends and disruptive technologies across four key stages, namely: Founder stage, Future stage, Capital stage, and the top 100 stage—where 100 of the most promising startups will be pitching live!

Also read: 16 more Exhibitors to WOW you at Echelon Asia Summit 2019


And finally, one of the key features of Echelon Asia Summit 2019 is how it will showcase some of the most brilliant startup products in the region. With 300 exhibitors that will sprawl all over Singapore Expo, participants can witness firsthand how these companies are changing the world.

So without further ado, here is the sixth set of Echelon Asia Summit 2019 exhibitors!

 

Muuve

 

Muuve is a local startup founded by a group of Cambodian youths initiated with the aim to provide people
with busy lifestyles easier, more time efficient, and more convenient ways to complete tasks.

 

Screea

 

Screea is a universal cashback loyalty platform where users can both earn and spend points globally, online and offline.

 

Baypay

 

Baypay is a blockchain payment service provider that helps you send and receive money through the Blockchain.

 

Dipp

 

Dipp is an A.I. powered design platform that instantly generates digital marketing content for Facebook, Instagram, DSP and more.

 

New Day

 

New Day is a smart, mobile solution for non-executive hiring and professional training.

 

Flexible Pass

 

Flexible Pass is a fitness pass for access to fitness activities.

 

Wika Media

 

Wika lets people enjoy movies, TV shows, or videos—in their own language.

 

TracknRoll

 

T&R aims to provide an affordable and easy to use solution that helps SMEs overcome their daily HR challenges.

 

DRVR

 

DRVR helps transform driving data into revenue.

 

Social Light

 

Social Light empowers low income communities through subsidized and/or free internet connectivity.

 

SalaTech

 

SALA aims to transform and automate the educational system for better quality education.

 

Parakerja

 

Parakerja is a platform for job training for people with disabilities.

 

Blyng

 

Blyng is an AI Virtual Agent for Real Estate that converts online audience into qualified sales lead 24/7.

 

True Digital Park

 

True Digital Park is an interconnected startup ecosystem that powers Thailand to become a global hub for digital innovation.

 

ConnectUpz

 

ConnectUpz redefines customer loyalty by changing the way businesses communicate with their customers and increase repeat sales.

Where to get tickets for Echelon Asia Summit 2019?

Catch this stunning set of companies showcase their brilliant work and more at the Echelon Asia Summit 2019! The event is happening from 23 – 24 May, at Hall 3A, Singapore Expo, 1 Expo Drive, Singapore. We don’t want you and your team to miss out on the important insights that will be shared by our speakers there, so get your Echelon Tickets today!

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Today’s top tech news, May 10: Uber sets IPO at US$45 per share

Apart from two news updates from Uber, we also have updates from Antler and SoftBank Ventures Asia

uber_ipo_price

Uber IPO values the company at US$82.4B – New York Times

Ride-hailing giant Uber priced its IPO on Thursday at US$45 a share, near the bottom of its expected price range, New York Times reported.

The company was valued at US$82.4 billion and raised US$8.1 billion from this IPO.

According to the report, the numbers will be a “disappointment” to investors, executives, and supporters who have been having high expectations for the company.

Set to begin trading on on New York Stock Exchange on Friday under the symbol UBER, the company will still have a market capitalisation of its IPO that is beaten only by Chinese e-commerce giant Alibaba (US$168 billion in 2014) and Facebook (US$104 billion in 2012).

Uber partners with Yulu to enter India’s bike-sharing market – Tech In Asia

Uber announced a partnership with Indian bicycle-sharing platform Yulu to mark its entry to the country’s bike-sharing market, Tech In Asia reported.

Uber will provide its users in Bangalore an option to book Yulu e-bikes and bicycles through its app as part of a pilot. However, Yulu’s app will not be integrated into the Uber app.

The ride-hailing giant also did not disclose any financial details of its partnership with Yulu

Uber, which is set to start publicly trading today, did not disclose any financial details about its tie-up with Yulu.

Also Read: Today’s top tech news, April 26: Uber aims for US$80B-90B valuation in IPO

SoftBank Ventures Asia to invest in Indian fintech, AI, healthtech startups – Deal Street Asia

SoftBank Ventures Asia, which had recently launched a US$500-million fund, is scouting for early-stage investments in Asia, particularly India, according to a Deal Street Asia report citing anonymous sources.

The firm is looking to invest US$10-20 million to companies in the healthcare, fintech and artificial intelligence sectors.

While SoftBank is known to make late-stage investments through its SoftBank Vision Fund, with SoftBank Ventures Asia, it aims to focus on early stage investments.

Antler launches in East Africa – Press Release

Startup generator and early stage venture capital (VC) firm Antler today announced the launch of its programme in East Africa, particularly Ethiopia and Kenya.

The programme’s entry to the continent followed its operations in Singapore and Stockholm.

Founded by Zalora co-founder Magnus Grimeland, Antler’s team includes first employee & CTO of Spotify Andreas Ehn and former US Treasury Secretary Larry Summers.

Antler also supports entrepreneurs build disruptive tech companies by providing US$1,500 (for Africa) a
month in phase one of the programme, in addition to a US$100,000 investment offered to each of the most
successful graduates of the programme.

Image Credit: Aditya Vyas on Unsplash

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Here are all the awesome #Echelon2019 Premier ticket perks

From workshops to Echelon Connect, this premier ticket will bring the Wow Factor at #EchelonAsia2019

Enjoy 48 per cent off Premier tickets in these 48 hours! The promotion ends at 4PM on Sunday, May 12th. Get your ticket now.

We all know where you will be on May 23-24. Echelon Asia Summit 2019, obviously.

The question is not IF you will be attending, but HOW you will be attending.

Our general Starter Ticket will get you into the conference, where you can hear from fantastic speakers, network with the next great startup and find future business partners.

However, if you want to take your experience to the next level, there is no better option than the Premier Ticket. It offers a whole host of bespoke experiences to help you along the entrepreneurship journey.

Our mission is, “To empower entrepreneurs with the tools to build and grow their companies,” and we believe our Echelon Premier experience is the best toolkit around.

Let’s take a look at the #Echelon2019 Premier Ticket offerings.

Echelon Connect

One of our most popular features, Echelon Connect is your opportunity to get that face-to-face meeting with the best investors in Southeast Asia. Open to Premier Ticket holders and TOP100 companies, you will be able to schedule a solo sit-down to pitch your startup.

Oftentimes, the hardest part of raising funding is just getting the meeting. Echelon Connect is one avenue to begin a fruitful relationship.

WeWork spotlight series

The global co-working space has come onboard as a ‘Premier experience sponsor’ and has a full-suite of events planned for ticket holders. This includes AMAs with notable startup figures, workshops on how to improve your company, roundtables with the community and discussions about the biggest topics in Southeast Asian tech.

WeWork is famous for its tenant events, so to have them onboard at Echelon is sure to be a success.

Interviews with Asia Tech Podcast [Limited slots available]

One of the fastest-growing podcasts in Southeast Asia is the Asia Tech Podcast. The team boasts interviews with AirAsia boss Tony Fernandes, Golden Gate Ventures Managing Partner Vinnie Lauria and Magnus Grimeland, the CEO of Antler.

At Echelon, they will be performing interviews with Premier ticket holders. So, if you’ve always wondered how to get media attention, this is one way. There are only so many hours in the day so slots will be limited.

Corporate Innovation workshop from Startupbootcamp

Over the past couple of years, the general business community has acknowledged that it is time for corporates to embrace startup-style innovation. However, that has proven to be a difficult challenge. Some corporations are better than others and on a whole we are still striving towards the goal.

Startupbootcamp is the world’s largest network of corporate-backed accelerators. If anyone has hands-on experience with corporate innovation, it is this company.

Also Read: 6 Echelon Asia Summit 2019 exclusives the investor community can look forward to

Learning about corporate innovation is also useful for startups. It’s important to understand corporate culture, what they need from young startups and how to approach large companies for business. This is a great place to start learning.

Corporate Venture Capital workshop by Cato Gullichsen

A cousin of Corporate Innovation is Corporate Venture Capital. These days, a lot of major companies have an arm dedicated towards investing in startups. It has become a major source of capital for young companies and it helps them leverage the networks corporates can provide.

But it’s also hard to fully understand how to tap into this funding avenue. That is why we have Cato Gullichsen, a Corporate Venture Advisor, to lead a session at Echelon. He has worked as both an enterpreneur and a VC who now helps corporates develop their relationship with startups.

Seems like the perfect candidate to lead this workshop.

Swag bag!

We won’t spoil the surprise, but expect some nice perks in the Premier ticket swag bag.

Access to a smart fridge

I mean, this is a tech conference so we can’t just have a normal fridge. This nifty smart fridge integrates the latest technology to help make sure your tummy is always full over the two days.

Plus, we will provide offer more traditional food vouchers during the conference

One drink at the afterparty

The Echelon Afterparty is one of the most anticipated events of the entire conference. With the entire tech industry enjoying a few hours to relax and let loose, it becomes a great place to meet future industry friends.

Also Read: Everything you need to know about #Echelon2019

Premier ticket holders can enjoy a drink on us to get the night started right.

Dedicated registration lane at Echelon Asia Summit

Nobody likes waiting in queues, especially if you’ve sprung for a Premier Ticket. That is why we will have a dedicated registration lane to help you quickly get into the conference.

Convinced?

Enjoy 48 per cent off Premier tickets in these 48 hours! The promotion ends at 4PM on Sunday, May 12th (because technically you may have read this tomorrow). Get your ticket now.

Photo by Andre Hunter on Unsplash

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New US$50 million venture fund launches in the Philippines

The venture arm provides a new avenue for a corporate that counts Sea Group as a notable portfolio company

JG Summit Holdings, a large conglomerate in the Philippines, has launched a US$50 million fund to target startups that operate in sectors similar to its current holdings, according to Esquire.

Called JG Digital Equity Ventures (JG DEV) the venture fund is part of an effort to “build new businesses beyond its core”. It wants to invest in companies that will either supplement or disrupt its current holdings.

The company plans to invest in Series A or Series B rounds. The logic is to invest in companies on the precipice of scale. It anticipates cheque sizes that range from US$1 million to US$10 million.

Also Read: Jakarta comes out as “challenger” to global startup ecosystems: Startup Genome Report

An interesting part of the fund is the focus on startups that work in similar areas as its subsidiary companies. This could include real estate, retail and airlines (Cebu Pacific is one famous JG Summit company). It also plans to target startups in finance, consumer services, new media, logistics and healthcare.

JG Summit has already invested in the startup sector, albeit at a later stage. It invested in Sea Group back in 2017 and a Chinese fintech firm called Oriente which owns Cashalo. JG DEV will be separated from the investments made by the parent corporation.

Growsari and Snapcart are also portfolio companies.

Also Read: (In photos) A stroll around STATION F, one of the biggest startup campuses in the world

Photo by Thor Alvis on Unsplash

 

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Kasikornbank to allocate US$100M to help Thai startups enter Vietnam

The investment arm, called KASIKORN Vision or KVision, will use US$100 million of its US$245 million for Vietnam expansion 

JD_enters_thailand

KVision, Kasikornbank’s investment holding company, announces that it will take a sum of US$100 million from its current startup investment budget of US$245 million to be invested into Thai startups entering Vietnamese market, as reported by Nation Multimedia.

The sum will be taken from KVision’s current startup investment budget of US$245 million. The company said that the rest of the budget will go to funding Thai and foreign startups in the ASEAN region.

With the mission targeting startups who want to operate in Vietnam, KVision has joined hands with the Vietnamese government to support Thai startups in Vietnam. KVision signed a cooperation agreement with the Vietnamese government’s Business Startup Support Centre (BSSC).

“BSSC’s understanding of their home market will help Thai startups thrive in the Vietnamese business ecosystem,” said Pattarapong Kanhasuwan, Chairman of KVision.

KVision shared their finding that investment in startups in Vietnam has reached US$889 million in 2018, which three times its figure in the previous year.

Also Read: Blockchain-powered ride-hailing app TADA officially launches in Cambodia

“This makes Vietnamese market just like a “Greenfield”, offering ample business opportunities for new ventures. In investing in Thai startups that will enter the Vietnamese market, we are not looking for investment returns. Instead, we are investing in the long-term for future business partners, as we plan to eventually become a regional bank in ASEAN,” Pattarapong said.

KVision said it will particularly target fintech and e-commerce startups, which are in-line with the market trend of Vietnam.

BSSC expects 20 Thai startups to enter the Vietnamese market in the upcoming year.

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