Also, Philippines releases new rules on acquiring cryptocurrency assets; LinkedIn says Sarawak and Kedah in Malaysia are where the tech talents hidden

 

LaLiga and GSIC launches global competition for soccer and sports solution startups [Press Release]

Spanish LaLiga with Global Sports Innovation Center (GSIC) presented by Microsoft has launched 2019 Startup Competition of The Original Inspiration Centre by LaLiga Supported by GSIC, starting on January 29, 2019. This initiative is a joint effort that aims to identify the best tech solution in sports and entertainment industry and champion digital talents for their innovative solutions in soccer, sports, and entertainment industry.

Since the agreement signed on September 2018, the competition is actively looking for solutions based on elements like media, fans involvement, smart venues, sports performance, and others like big data, artificial intelligence, even machine learning.

The registration is still open until March 30, 2019, and the competition will kickstart with the selection of 25 startups by judges from LaLiga, GSIC, dan Microsoft. The selected startups will present their proposals in May 2019 to qualify for top 10 finalists who will run pilot project alongside LaLiga.

Also Read: Lufthansa Innovation Hub opens Singapore office, aims to boost Asia’s travel & mobility tech

Benefits of joining include mentoring session, solution implementation, access to LaLiga’s on-development assets, joining orientation week in September, and cash to travel around Spain.

The Philippines releases new rules on acquiring cryptocurrency assets [Press Release]

The Philippines, through the Cagayan Economic Zone Authority (CEZA), has issued a comprehensive set of new rules on cryptocurrencies in a bid to effectively regulate and protect investors. It has approved the Digital Asset Token Offering (DATO) regulations that cover the acquisition of crypto assets, including utility and security tokens.

The Asia Blockchain and Crypto Association (ABACA) is designated as a self-regulatory organization (SRO) to help implement and enforce the new rules.

“It is our goal to provide a clear set of rules and guidelines that will foster innovation yet ensure proper compliance by actors in the ecosystem. It is our hope that these set of regulatory innovations will take the digital asset sector one step closer to adoption and acceptance by institutions and the traditional financial system,” said Sec. Raul Lambino, CEZA administrator and chief executive officer.

Under the rules, all DATOs must have proper offering documents with pertinent details on the issuer, project, and accompanying advice and certification of experts and DA Agents. Tokens must be listed on the licensed Offshore Virtual Currency Exchange (OVCE).

Furthermore, stakeholders must also have confirmed arrangements with accredited wallet providers and custodians.

The regulations cover three levels of DATO. Tier 1 involves assets and investments not exceeding US$5 million with payment made in digital tokens, followed by tier 2 that covers US$6 million to US$10 million in investments. Tier 3 covers investments exceeding US$10M.

Utility tokens, also known as app coins or user tokens, give holders future access to the products or services offered by a company. Security tokens, meanwhile, are backed by real assets such as equity, shares of a limited partnership company, or commodities, all are used to pay dividends, share profits, pay interest or invest in other tokens or assets to generate profits for the token holders.

Lambino said CEZA has built an ecosystem of OVCEs where tokens of issuers can be listed. CEZA and ABACA have also approved wallet providers and insured digital asset custodians to ensure proper storage and governance of investor proceeds.

ABACA, as a newly-appointed SRO, will help the government regulate cryptocurrency companies by effectively converting industry players into enforcers. The SRO is enforcing a code of conduct among the members and reports to CEZA any breach, violations, or any matters relating to OVCE rules and regulations.

Grab to host video streaming platform Hooq [Variety]

Grab plans to add one more option in its quest to become a super app: video streaming. Enter Hooq, the Asia-based video streaming platform, that’s reportedly locked a deal with Grab.

“Adding video was an obvious next step as we know that people want more services,” said Danny Koik, Grab’s head of regional partnerships.

The deal is a revenue-sharing agreement which operates on two levels in the four Southeast Asian territories: Singapore, Indonesia, the Philippines, and Thailand. Hooq’s advertising-supported (AVoD) content will be available through a widget on the Grab app’s home page with three-month trial of Hooq’s premium VoD services and 17 pay-TV channels offers exclusive to Grab users.

LinkedIn says that Sarawak and Kedah are where the tech talents hidden [Business Insider]

LinkedIn just named Sarawak and Kedah, two Malaysian states as the place where most tech talents of the country reside. These states were identified by LinkedIn as the locations where the supply of tech talent actually exceeded demand, as stated in its 2019 Emerging Jobs in Malaysia Report.

Also Read: Singapore Medical Group backs the launch of telehealth platform HiDoc

In its report, LinkedIn revealed top emerging jobs for the country, which are: data scientist, full stack engineer, drive test engineer, user experience designer, and content writer, all related to technology.

LinkedIn said the reason behind the surging demand for tech talent in Malaysia was primarily due to e-commerce, which Malaysia has been a “particularly early adopter” of – resulting in many organisations looking for tech talent to help take their businesses online.
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Photo by Jannes Glas on Unsplash

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The Indonesian startup raises the funding syndicated by East Ventures, SMDV, Pavilion Capital, Agaeti Venture Capital, Insignia Ventures Partners, and some angel investors

Fore Coffee, an on-demand specialty coffee startup based in Indonesia, has announced a fresh funding raised from East Ventures. Joining East Ventures’ investment are SMDV, Pavilion Capital, Agaeti Venture Capital, Insignia Ventures Partners, and some angel investors.

The company said that it will use the fresh fund to accelerate more innovation to provide high-quality and seamless online-to-offline customer experience – which include good, easy to find, fast service, and friendly prices coffee.

Also Read: Singapore Medical Group backs the launch of telehealth platform HiDoc

Furthermore, Fore Coffee said it will also invest in high technology machine to develop new products.

As of today, Indonesia is in fact the second largest land plantation for coffee in the world right after Brazil. However, its productivity index is only able to produce 520 kg/HA lower compared to Vietnam with 2,445 kg/HA, making Indonesia sits at number 4 coffee exporter among “The Bean Belt” countries.

Fore Coffee was born with the belief that Indonesia can do better. Fore Coffee, founded by Robin Boe, Jhoni Kusno, and Elisa Suteja, aims to revitalise Indonesia specialty coffee, especially Arabica beans.

“We decided to use only Arabica beans, which translate to higher income for the local farmer, with a certified organic farm and certified fair trade. We roast the bean locally to keep its freshness, brewed by trained barista, and deliver it as and when the consumer wants it. We use the mix of technology, our self-built mobile app and existing built technology to track and monitor payment, loyalty platform, and distribution platform,” said Robin Boe, CEO of Fore Coffee.

“Fore Coffee is a new kind of SME that won’t be able to exist in Indonesia a couple years ago. But today, the mature digital ecosystem in Indonesia has allowed it to answer the question: ‘how could we improve the Indonesian coffee industry’s value chain in today digital economy context?’,” said Willson Cuaca, Managing Partner East Ventures.

Also Read: Lufthansa Innovation Hub opens Singapore office, aims to boost Asia’s travel & mobility tech

Fore Coffee online to offline strategy integrates technology such as mobile application and the presence of their retail stores. One Fore Coffee outlet serves orders for 24 hours and is said to be the first coffee chain that has drive-through facilities.

Fore Coffee currently has 16 outlets located in major malls across Jakarta, Indonesia.
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Startup of the Month aims to highlight the achievements of the Southeast Asian startup that has reached new milestone that month

The results are in –and e27 Community has voted Vietnamese e-wallet service MoMo as Startup of the Month!

The initiative was meant to highlight the achievements of a particular Southeast Asian startup that has reached new milestone that month. The results are based on a poll conducted in the e27 Telegram Group every end of the month.

MoMo stole our attention when it raised an undisclosed Series C funding round led by global private equity firm Warburg Pincus.

Though the figures were undisclosed, and has been reported to be at around US$100 million, the company has become one of the first Vietnamese startups to raise a late-stage funding round. Proving the great potential and promise for the market.

MoMo plans to use the new funding to expand within the Vietnam market, so we can expect to hear more from them this year.

Also Read: Uber strikes its first m-payments partnership in Southeast Asia with a deal with Vietnam’s MoMo

In addition to MoMo, we would also like to announce Indonesia-based new retail startup Warung Pintar as the runner-up for the Startup of the Month title.

The startup has recently announced a partnership with Southeast Asian ride-hailing and fintech giant Grab, following a US$27.5 million Series B funding round that it announced less than a week before.

Perhaps Warung Pintar will have the chance to win the top position of Startup of the Month in the coming months?

To participate the vote, and other exciting activities, feel free to join our Telegram Group!

Congratulations to MoMo and runner-up Warung Pintar!

—

 

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Employee engagement is crucial for a company’s success

Companies that have a high percentage of highly engaged employees consistently outperform their competitors.

Engaged employees are highly involved, enthusiastic about their work and personally invested in the success of the company. They take ownership of their work and are the driving force for innovation and performance in most organisations.

Employees are a primary source of competitive advantage for your company.

However, Human Resource (HR) managers are under pressure to prove that they can make a difference – their contribution is more difficult to quantify than other departments.

More often than not, when businesses perform poorly, HR gets the first budget cut.

This is despite the strong positive relationship between employee engagement and performance.

Therefore, to prove how HR managers can greatly affect the bottom line, managers should show how engagement is linked to performance.

Here are some examples that HR managers can cite when explaining the importance of investing in their employees.

Increased Productivity and Innovation

These days, it is getting easier to copy other people’s products and more difficult to maintain a technological advantage.

However, employees remain one of the key factors in an organisation’s arsenal that cannot be replicated.

Read Also: How NOT following my dreams enabled me to build a startup with 3.2 million users

Employee engagement is the driving force behind the value of an organisation and its competitive advantage.

A highly engaged workforce is more productive, more innovative and more likely to succeed in today’s competitive business environment.

Studies have shown that an increase in employee engagement by a mere 10 per cent can increase profits by US$2,400 per employee per year due to their above-average productivity.

Turnover Costs

A highly engaged workforce also reduces turnover costs, where they are 87 per cent less likely to leave an organisation.

According to the US Department of Labour, it costs about a third of a new recruit’s salary to replace an employee who left their job.

For example, it could cost up to US$20,000 in training expenses and lost productivity to replace an experienced employee earning an annual salary of US$60,000.

For highly-skilled jobs such as managers or directors, costs could even scale up to 150 per cent of the position’s annual salary.

Turnover costs does not stop at training and lost in productivity – 57 per cent of Singapore companies believe that employee turnover has a serious negative effect on organisational performance.

High turnover rates dampen the overall morale amongst employees as they are burdened with additional work until the new recruit is fully on board.

Read Also: What I learned about management from scaling one of Southeast’s Asia fastest growing Series B startups

To wrap up, employee engagement can no longer be ignored by organisations and is one of the key drivers behind the success of a business.

Without the proper direction and care from the company’s leadership, this competitive advantage over your competitors can be easily lost and hard to recover.

—
Photo by rawpixel on Unsplash

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As per this strategic partnership, Central Group will help Grab to expand its business in Thailand

Thailand’s largest shopping mall and department store operator, Central Group, is planning to invest US$200 million in ride-hailing giant Grab, says a Bloomberg report, citing people aware of the development. The investment will go into the Grab’s company’s Thai unit.

As per this strategic partnership, Central Group will help Grab to expand its business in Thailand.

Headquartered in Singapore, Grab is the largest O2O mobile platform in Southeast Asia, providing everyday services, including food and package delivery, mobile payments and financial services, in addition to taxi hailing. Currently, it operates in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.

Also Read: The culture of Echelon is the biggest draw for both speakers and participants alike

Since launch, Grab has secured US$7.1 billion across 21 investment rounds, from the likes of Hyundai Motor company, Yamaha Motor Company, and Microsoft. The latest funding came from Japanese financial services company Tokyo Century Corporation early this month. The money would be going into Grab’s car rental arm, Grab Rentals.

Central Group consists of a variety of diverse investments in various corporations, including the retail, property development, brand management, hospitality, and food and beverage industries. A few hours ago, Central Group teamed up with JD.com to start a digital wallet platform to promote cashless payments in Thailand.

Called Dolfin Wallet, this wallet will go live in two to three months. The platform, which settles payments by reading QR codes on smartphones and other devices, will be run by Central JD Money, a subsidiary of Central Group and the JD.com joint venture Central JD Fintech Holding.

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Starting with over 21 franchised and leased hotels, OYO’s current footprint includes presence in Metro Manila, Tagaytay and Cebu

OYO to invest US$50M for Philippines expansion [press release]

Southeast Asia’s budget hotels aggregator OYO Hotels and Homes has announced its launch in the Philippines.

Starting with over 21 franchised and leased hotels, OYO’s current footprint includes presence in Metro Manila, Tagaytay and Cebu as it plans to grow to 10 cities by 2020.

OYO Hotels would be franchising and leasing assets while transforming them into quality living spaces.

The company has also committed an investment of over US$50 million over the next few years in the country, and aims to generate over 1,000 direct and indirect jobs.

Smart spending-tracker gini secures US$1.6M

gini, a Hong Kong based smart spending-tracker, has completed its seed round with a US$1.6 million investment from both international institutions and Hong Kong-based Vectr Ventures, the early stage fintech venture capital firm.

The funding will support a global roll-out plan, with gini aiming to be compatible with over 3,000 overseas banks in 60 countries by the second half of 2019 — starting with over 60 banks across Hong Kong, France, Switzerland and the UK currently available.

“We are Hong Kong-based, but the plan was never to launch an app only for the Hong Kong market,” said Co-founder CEO Raymond Wyand. “We live in a globalised world. Ultimately, our goal is to build a truly worldwide financial marketplace, to service not just a user’s home market but make managing money across markets accessible and easy for anyone to do. This new seed round allows us to start making that vision a reality.”

Kinestral raises over US$100M led by SK Holdings [press release]

Kinestral Technologies, the developer and manufacturer of Halio, a smart-tinting glass product for buildings and homes, today announced that it has closed Series D funding of over US$100 million led by SK Holdings, one of the largest conglomerates in South Korea.

Current investors 5AM Ventures, Alexandria Real Estate, Capricorn Investment Group and Versant Ventures also participated in the round. This investment will allow Kinestral to expand manufacturing, sales, and installation of Halio smart-tinting glass to meet rapidly growing global demand.

Halio looks like natural glass in its clear state and tints automatically or on demand to neutral gray shades to stop the unwanted intrusion of both glare and solar heat, while giving users privacy. Halio responds in seconds to changing light conditions. It tints uniformly to a virtually limitless number of tint level options. It can also be integrated with building management and home automation systems as well as cloud-based devices.

AI startup Clootrack raises US$500K funding [press release]

Bangalore-based AI startup Clootrack Software has raised US$500,000 in seed funding round led by Indian Angel Network. The round also saw participation from IAN Fund, Unicorn India Ventures (existing investor), SEA Fund and Malabar Angel Network.

Anthony Thomas, Global CIO, Nissan Motors and Salliel Gupta have led the round on behalf of IAN with Anthony joining the company board. IAN investor group also includes Kris Gopalakrishnan (Co-founder, Infosys).

Founded in April 2017, Clootrack is an AI-driven data analytics platform that discovers and measures brand perceptions in real time. It does this based on analysis of customer conversations in various online media and customer care tickets. Clootrack discovers brand perception elements in an unsupervised manner from text conversations.

The company runs on proprietary deep learning algorithms based on proven mathematical models and has two pending patents.

PH venture capital, private equity players form investment industry association [press release]

Leading venture capital and private equity players in the Philippines have come together to create an investment industry association that will act as a unified voice representing professional and institutional investors in the Philippines.

Called the Venture Capital and Private Equity Association of the Philippines (VCAP), this non-stock, non-profit corporation was the brainchild of ICCP SBI Venture Partners, Navegar, Endeavor Philippines, and Kickstart Ventures, Inc. with support from Romulo Mabanta Buenaventura, Sayoc & de los Angeles Law.

“VCAP is the first of its kind in the Philippines. It is a forum to promote a greater understanding of the roles VC and PE play in economic growth, to foster the growth of entrepreneurship and innovation, to encourage foreign investments into the VC and PE sectors in the Philippines, as well as to facilitate interaction and collaboration amongst its members,” said William Valtos Jr., VCAP Chairman and President and ICCP SBI Venture Partners Senior Managing Director.

VCAP’s mandate includes building linkages with similar associations in other countries, raising the profile of the VC and PE asset classes, serving as a platform for potential dialogue on regulatory and policy issues affecting venture and private equity investments in the country, and promoting professional development of the member firms and employees.

The formation of VCAP will give local and foreign investors an accessible forum for sharing market information as well as discussing policies and practices which are of concern to VC and PE institutions and professionals, according to Honorio Poblador IV, VCAP treasurer and Navegar managing partner.

 

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Whether it is keeping family close, or learning how to say ‘no’, this advice will help tremendously during the entrepreneurship journey

It is coming close to 3 years since I quit my consulting job and decided to take the plunge into entrepreneurship. No one really prepares you for what is going to take when you’re running a startup, trying to create a business from ground up, and taking on a mammoth task like building a social network of your own.

All of your insecurities have a way of surfacing in your most vulnerable moments, and the many, many times that things go wrong, you can’t help questioning yourself. What was I thinking? Am I qualified to be a ‘founder’? What if this fails?

Six months of ideating, nine months of building, one year of testing and improving and we’re now close to finally launching.

Last week I thought to myself, what?! Has it been three whole years and I haven’t even launched yet? But when I sat down to write our milestones over this period, I felt much better — and quite proud of our journey.

We’ve worked with 9 interns, 11 full time employees, nine different agencies, and two freelancers, all of whom have helped us build Dysco. We’ve hosted over 12 events, facilitated over 30 lakhs of business, engaged with over 10,000 people online and offline, posted over features, acquired more than 2000 users and advertised 50-plus opportunities. We have an average of three minutes spent on our website and over 7000 views on our most read post.

Anyone who has been on a similar journey will know the highest highs and the lowest lows come so frequently that no rollercoaster can prepare you for those adrenalin rushes or gut punches.

But for those of you who are considering embarking on such an adventure, here are 15 lessons I’ve learned and would like to share; some truths that have made me a substantially less stress-prone and much, much happier entrepreneur.

1. Everything takes time

And much more time than you originally planned. If you don’t spend time on it, you’re probably not thinking about it thoroughly enough. In India, things take at least twice as long as you probably expect. The younger, more naïve version of myself thought we’d launch in 1 year and be profitable in 3. It’s now been 3 years and we’ve still not formally launched… and only recently mapped out a monetisation strategy. Just saying.

2. Get familiar with the P word

An obvious and often heard one. You will pivot and pivot again and pivot again. Some pivots fail and some help bring you to more pivots. Our pivots with Dysco kind of seemed like a natural path — like tree branching out into an array of little branchlets.

Also Read: What I learned about management from scaling one of Southeast’s Asia fastest growing Series B startups

But not all pivots have that result. Can I say pivot any more times?

3. Don’t try to know everything about everything

Some things you should educate yourself about or learn how to do yourself. Others you should leave to the experts or specialists in their fields.

Figure out which of the two categories things fall in. It doesn’t mean you’re not trying hard enough, it means you’re being efficient. I’m not a techie and don’t think I can learn to be one — I familiarised myself with key concepts but turned to experts to make informed tech decisions.

4.First impressions count

First experiences count more. This may not apply to everyone but investing in strong branding and good design can take you a long way. Especially if what you’re building isn’t revolutionary and unheard of, but combines elements of products and services that people are already familiar with.

No one would spend their valuable time creating profiles on one more social network if it looked boring and felt unprofessional.

5.Your friends, family and acquaintances will be your biggest strength

They’ll be your advocates, your first users, the links to your first clients and your biggest critics.

Although very often strangers will support you much more than people you know. Don’t take it to heart, just take it in your stride.

Random people who were interested in communities, platforms, culture and creativity offered me so much support and useful advice — stuff that people in my personal network probably didn’t know or care too much about. This is coming from an extra-introvert.

6.Be open and honest about your journey and struggles.

Sounding human is much better than sounding perfect. People are more willing to test your product, wait patiently while you fix bugs, and be a part of your focus groups if they know you’re in the process of figuring things out.

Anyone successful appreciates humility, honesty and knowing that you’re facing the same struggles that they faced. They’ll happily guide you in whatever way they can (write to me if this post tugs on your heart & pocket strings!)

7.Offline engagement is better than online engagement

No one really knows what’s going on behind screens. Meeting your potential audience, customers and users face to face is better — always. Especially at the start of your journey.

10 people offline is worth more than 100 likes online. Real people convert to real business much faster and for longer than online interactions which are probably bots anyway. People I met even at small and intimate events have been the most loyal supporters of Dysco, and have gone on to work on collaborations, events and campaigns with us.

8.Don’t wait till it is perfect.

You can keep aspiring for perfection, but put out all your work in progress anyway. It shows your growth, your journey, gets you feedback and helps build your next stronger/better/improved version of your product.

Everyone’s afraid of where and how to begin — but you can keep improving your logo, your web design, your social media presence and it’s bound to evolve over time. Don’t keep waiting to put yourself out there.

9.Maintain all relationships, don’t spoil them when things get rough

When you’re working closely with someone, whether it’s a collaborator or a client, you’ve invested time in building a meaningful relationship.

Sometimes things get heated and don’t go down well. It’s okay to stop working together, but try to make sure you don’t let things get ugly. A few months later it probably won’t matter that much if working relations ended respectfully.

You could both use each other at some point down the line. Be polite, be nice and don’t do/say things you might regret later.

10.Worrying about copycats is a waste of time

The biggest companies and brands copy each other — it is just the way the world works. People can and will steal ideas. They will take inspiration. They will try and do what you do, if it seems like it has potential.

You will find dozens of similar products and services in the market the longer you’re working on something. Just focus on making yours the best version it can be, and execute it fast. Keep inventing and innovating and others will always be a step behind.

Also, know the difference between ‘inspiration’ and plagiarism. Don’t be a copycat yourself — there’s no point in doing something that’s already being done very well and by plenty of others. Unless you’re offering something radically different, substantially better, or appealing to a new demographic, it is unlikely that you will take over a highly competitive or saturated market.

Differentiate yourself from the get go.

11.Focus on your niche, your market and your specific audience

Growth will come in its time and you will eventually scale into new global markets when you’ve captured the former. Planning for global domination is daunting, often unnecessary and frankly impossible from day one.

Your time, efforts and resources are much better spent on winning and delighting a smaller audience that keeps coming back. Not that we’ve reached global domination or even close, but I often panicked about achieving the impossible.

Taking things step by step helps you plan both better and smarter. Now I’m breathing better and sleeping deeper.

12.Don’t say yes to every tempting offer or catchy opportunity that comes your way

Think about whether it really fits within your core mission and offerings, and if it’s dragging you off your primary path?

Quick money or big money is attractive, but time spent there might not add any value to your main product, and could reduce returns in the longer run. I still struggle with this one, and my eyes light up when a popular brand reaches out for a partnership. But I’m learning to say no if opportunities don’t align with my objectives at the moment.

13.Be open minded

About ideas and feedback especially. You’re not building a business where you are your own only customer. You need other people’s opinions and perspectives to help design something that others will want and be willing to pay for — so don’t be offended if they challenge your preconceptions.

Also Read: How NOT following my dreams enabled me to build a startup with 3.2 million users

Hear it and mull it over — and implement it if you see relevance. If you’re a founder or entrepreneur, your baby feels very close to heart. That doesn’t mean there’s no room for improvement or modifications; but trust your gut instinct at the end of the day.

14.You don’t have to know how to monetise from the very beginning.

But don’t wait for too long before sitting down to think about it either. You can burn through cash, energy and resources at an exponential speed once you’re in the deep end and fully invested in making your dream a reality.

Make sure to step back, even stop and evaluate your business strategy and goals before powering on and on. After a year of testing, we just took a few months to plan our future — it didn’t make sense (and was quite demotivating) to keep spending money unless we figured out how to make it back, with returns.

15.Find the right people to work with, even if it takes time, trial and error

I can’t stress enough how much time we’ve lost settling for people who weren’t right for a role, or not picking the right partners to help us build our product and services. Compromising in the short term is not worth it in the long run.

In our case, we definitely couldn’t build Dysco all on our own. We needed the help of many others with the skills and knowledge to transform our ideas into reality. Finding really strong partners and team members can make or break the success of your business.

And here’s a bonus number 16 — if your startup doesn’t work out as planned, don’t think of it as a failure but a genuine, rewarding and incredible investment in your future, your growth and in your learning

There is nothing like real life experience, and that can compete with an MBA from a top-tier institution (as others have told me).

This list is far from comprehensive, and I have plenty of anecdotes, horror stories and semi-inspirational quotes to share if you’d like to know more. I’ve learned the most from other people, irrespective of their field or industry — so if you have any thoughts or comments, do comment or message me.

I’d love to hear from you! Write to me at khrisha@dyscoapp.com or follow me on Medium, where this article was originally published.

—

Photo by Artem Bali on Unsplash

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The fourth batch of Plug and Play Indonesia accelerator programme includes seven startups from outside of the country

The Indonesian chapter of US-based accelerator programme Plug and Play has announced the 20 startups that have been shortlisted for its fourth batch.

In addition to startups that are based in Indonesia, the current also included seven startups from Singapore, India, and the Philippines.

These startups are set to join a three-month programme that will end with a demo day.

The startups are:

Instamoney
The startup build payment infrastructure that enables users to transfer money “quickly and effectively” at scale.

Emvazo
The startup provides “economical and convenient” cross-border online money transfer solutions.

CoinHako
Based in Singapore, cryptocurrency wallet CoinHako has operations across Southeast Asia and hosts a portfolio of multiple cryptocurrencies paired with local currencies.

Also Read: Plug and Play Indonesia brings in 17 startups into its 3rd batch

PayOK
The startup aims to simplify personal finance by offering consumer behaviour insights. In addition to monitoring and visualising their spending habits, users can also get relevant promotions at merchants.

Magpie
Philippines-based Magpie is a digital payments platform that enables financial institutions to create experiences from mobile-based invoice collection to text message-based payments using their APIs.

Bizhare
Bizhare is an equity crowdfunding platform that enables users to start investing in franchise businesses from US$400. It also distributes financial statements and monthly profit distribution through its e-wallet feature.

BFarm.id
The startup aims to improve livestock farmer welfare by providing end-to-end solution on market access, insight, funding as well as promotions of sustainable agricultural practices and humane animal care.

Bandingin
Bandingin is a price comparison platform for various insurance products.

Vymo
Bangalore-based Vymo is a Gartner-recognised Personal Sales Assistant with the ability to predict, detect, learn, and coach sales representatives to get the best outcomes.

Also Read: 11 startups graduate from Plug and Play Indonesia as the accelerator opens third batch registration

PAL Network
The Singapore-based startup builds dual-layered protocol for financial assets, enabling insurance and finance solution designs in smart contract within minutes. It helps partners to cross-sell relevant insurance products at points-of-demands.

Intello Labs
Gurgaon-based Intello Labs said it has pioneered a “first-in-the-world” app and equipment to test, grade, and analyse the visual quality parameters of agricultural commodities.

ATM Sehat
Anjungan Telehealth Masyarakat (ATM) Sehat is an all-in-one device that for public health promotion, monitoring, and prevention. Users can perform health checks and screening, do live consultation, buy health products, and even call an ambulance using a panic button with just one device.

Intelitaap
India-based Intelitaap provides indoor consumer behaviour analytics platform using sensors, enabling businesses to optimise in-store experience.

RaRa Delivery
A last-mile delivery service for e-commerce businesses that aims to make same-day delivery scalable with asset-light operational model and AI-enabled real-time optimisation technology.

Lacak.io
The platform helps logistics companies track their fleets or drivers’ location, measure each delivery’s performance, and evaluate drivers’ driving behaviour.

Also Read: Plug and Play’s Christian Knipfer describes Taiwan’s strengths in building a startup ecosystem

LogicNesia
A distribution optimisation software for manufacturers and logistics to maximise vehicle drop-in locations, reduce delivery cost, and vehicle utilisation.

Piniship
The startup helps export-oriented companies with cargo delivery scheduling, price comparison, documents procession, and payment transactions.

Aquifi, Inc.
The startup automates repetitive, time-sensitive tasks such as end-of-line and order inspection with proprietary 3D sensors and deep neural networks.

Madhang
Madhang supports small- and medium-sized enterprises (SMEs) in the culinary sector by providing sales and marketing tools as well as points-of-sales (POS) system.

Redkendi
Redkendi is an online marketplace for meal catering services.

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The future of global transportation is bright, but it is also a long way’s off

The future of the transportation network looks phenomenal. Think about it. We have Elon Musk talking about tunnels that could transport vehicles hundreds of miles away at a lightning fast speed. We have cars that do not need people behind the steering wheel. The only question is how long it will take to live this future?

Even if we sideline the time it is going to take, the next big question that pops up is whether the autonomous driving will completely replace the traditional transportation system or create a hybrid transportation system where both machines and humans can coexist.

Before we get into answering these questions, let’s first discuss why self-driving cars will eventually become as popular as their predecessors.

Rising Number of Car Accidents

South East Asia experiences approximately 316,000 deaths due to road accidents every year. In the United States, this number amounted to 37,133 deaths in 2017.

Other countries with the most number of deaths due to road accidents per year include Namibia, Iran, Sudan, Swaziland, Venezuela, Congo, Malawi, Iraq, and the Central African Republic.

Regardless of the situation, the primary cause of these accidents is the mistake made by drivers. One wrong decision like over-speeding, sudden breaks or anything else costs them their lives. No matter  if the accident is the fault of the driver or the other vehicle, the consequences are going to be severe.

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Self-driving cars, on the other hand, can act quickly based on the real-time data and make a move that is good enough avoid a traffic collision. It is about the kind of technology being used in the car and how efficient it is in the real-life traffic scenario.

Self Driving Cars & Their Viability

Over the last few years, leading automotive and tech companies like Tesla, Google, Audi, BMW, Ford, etc. have run multiple tests to check the viability of their self-driving cars.

Tesla being the market leader stepped up its game and went on to announce a couple of years ago that its Model S and X would be equipped with the essential features needed for a self-driving car. It has introduced many technology upgrades in its existing models to improve the performance.

However, the one area where Tesla and other auto manufacturers haven’t been able to reassure investors and buyers is the integration of maps of those roads that are beyond city boundaries.

Most companies run tests on self-driving cars in cities and install 3D maps of lanes, streets, signs, curbs, etc. accordingly. These dense 3D maps allow self-driving vehicles to analyse their exact location and what to do in case any obstacle like other cars or pedestrians show up. So, if they don’t have 3D maps of any area already installed, it’s almost next to impossible for them to operate there.

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To fix this problem, a team of scientists at MIT has developed a framework called MapLite that allows self-driving cars to safely drive on those unmapped roads. However, the proper integration of this technology might take some time. Until then, self-driving cars cannot be called a viable solution for the current transportation system.

How long is too long:

Given the pace at which the technological development across the globe is happening, there is no doubt that self-driving cars will eventually become a part of the transportation system. But to think that they will completely replace the traditional vehicles in the near future is nothing more than a figment of imagination.

It will take a lot to replace human drivers with software-driven commands, and it’s not happening for at least the next couple of decades.

Is this too long? Will investors be able to endure the financial pain for the future rewards? We will have to wait and see.

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Photo by Nick Fewings on Unsplash

The post Can self-driving cars replace traditional transportation system across the globe? appeared first on e27.

Mobile Legends e-sports will be the first government-supported e-sports competition in Indonesia

Indonesia’s government launched the country’s first government-backed e-sports competition with Mobile Legends as its main sport, as CNN Indonesia reported.

“This would be the very first e-sports tournament that’s fully supported by the government,” said Giring Ganesha, chairman of the championship, who’s also a local celebrity, in a press conference yesterday.

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The qualification round of the tournament will be held in eight cities; Bekasi, Solo, Pontianak, Denpasar, Makassar, Palembang, Manado, and Surabaya. Those who go through in the qualification round will be coming to the final round in Istora Senayan, Jakarta, on March 30-31, 2019.

This event is backed by the Ministry of Communication and Informatics, Creative Economy Agency (BEKRAF), and Ministry of Youth and Sports.

“The government fully supports this type of competition as it can also boost our economy as a country and to realise digital economy by 2020. We also aim to support the potentials our gamers have to compete in international arena,” said Moeldoko, the Head of the Presidential Staff Office.

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Indonesia Esports Premier League (IESPL) has recorded a total of 50 million gamers in Indonesia this year alone, with 60 per cent of them calling themselves e-sports enthusiasts.
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Image Credit: IESPL

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