Why are toddlers faster to pick up drawing and scribbling images than they are to learn their ABCs? 

We learn our first lessons in life by seeing things around us, so naturally, there’s a stronger inclination to recall information from visuals rather than words. 

If you have ever used flashcards for exams, you would know what it feels like to have a mental snapshot of one of the cards suddenly appearing in front of your eyes in the middle of answering a question. It’s absolutely magical how your brain stores information visually! 

That’s why whenever we see a problem, we can understand it better. Our brains typically perceive it in six ways — why, who/what, how much, where, when, and how. That’s the <6><6> visual thinking framework coined by Dan Roam, international bestselling author of the “Back of a Napkin” and the inspiration behind our own book, The S.T.A.R. System.

The Story, Takeaway, Application, and Reflection system structures problem-solving in business into a simple four-step process. Within it, the <6><6> visual thinking framework plays a pivotal role in breaking down complex issues into manageable parts to encourage an innovative and collaborative solution-finding experience.

Think about a company that you admire, or simply choose your own company. If you visualise it as a pie chart with six parts, you can see that an illustration of the business requires addressing six fundamental questions, each representing a crucial aspect of the whole business.

As you explore these questions, the company’s story begins to unfold. It’s a vital step  for promoting a deeper understanding of the business and developing a better management strategy to navigate challenges and opportunities. 

Also Read: Rewiring our world: How neuroscience unlocks the secret to sustainable tech

When a business hits a roadblock or a plateau, or when its core messages are derailed amidst a complex and volatile environment, these fundamental questions help in revealing gaps and divergences. The deeper you drill down on each slice of the pie, the richer your discovery of areas requiring action to be taken. 

One could write pages and pages of words to break down and analyse challenges, but the chances of a lot of the ideas getting lost in translation are high. However, if you also render your thoughts in illustrations, it’s easier to visually ‘see’ and understand the gaps and retain information relevant to addressing issues that impact your business. This is why the “Draw as I Think” approach works so effectively in business management.

Consider the scenario whereby you are in the F&B industry. When you think about target customer(s), you may draw specific demographics which include members of a family, such as parents, kids and even pets. When you think about customer fulfilment, you may draw what your customers need. Therefore, you are reflecting on Who you cater your offerings to and the decisions you take to satisfy your customers.

What you draw is a reflection on how you process information. It’s an expression of your own understanding. Drawing is a thinking process, not an artistic one. Draw to give greater clarity to your thoughts and improve understanding. Regardless of your artistic abilities, drawing the problems and their solutions, albeit simple stick figures and diagrams, can often reveal possible solutions in a similarly straightforward manner. All you need is paper and pencil.

This article was co-authored by Sherrie Low, and their book can be found here, with workshops available here.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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The digital age is upon us, and its impact on the workplace is nothing short of transformative. Automation, artificial intelligence (AI), and digitalisation are rapidly reshaping traditional job roles, demanding a significant shift in how we approach work and the skills we need to succeed.

This digital transformation presents both exciting possibilities and significant challenges. While new avenues for innovation and growth are unlocked, it also necessitates a continuous learning mindset from both individuals and organisations.

The need for upskilling and reskilling is a worldwide phenomenon. The onus falls on employees to integrate technology seamlessly, but a crucial question arises: are employers providing the necessary support for this digital transformation?

A recent study revealed that a staggering 85 per cent of employees across various industries recognise the importance of upskilling for career advancement. This recognition highlights a universal understanding that traditional skills may not be sufficient to navigate the demands of the digital age. 

However, the same study paints a concerning picture. Despite acknowledging the critical role of upskilling, a significant 24 per cent of employees reported a lack of adequate training opportunities provided by their employers.

This disparity between the recognised need and the actual support system presents a major obstacle. Employees face job insecurity and anxiety about their future careers without proper training and development opportunities. 

From an organisational perspective, this lack of upskilling hinders agility and competitiveness in a dynamic digital landscape.

Microlearning: A beacon of hope in a time of change

In the face of these challenges, microlearning has emerged as a powerful tool for empowering workforce resilience. Microlearning is a revolutionary approach to learning that breaks down complex topics into bite-sized, focused lessons.

Also Read: Startup pointers: Essentials for aspiring millennial entrepreneurs

These digestible modules, often delivered through mobile apps and online platforms, can be completed in as little as five to ten minutes. This format caters to the realities of today’s fast-paced world, allowing individuals to learn at their own pace and integrate learning into their busy schedules.

The benefits of microlearning are multifaceted. For individuals, microlearning empowers learners by offering self-directed skill development in bite-sized modules, allowing them to choose what to learn, manage their time effectively, and gain a confidence boost as they master new skills at their own pace.

In fact, microlearning demonstrably enhances knowledge retention by up to 50 per cent compared to traditional, lengthy training sessions. This improvement is attributed to the focused content delivered in manageable chunks, which reduces cognitive overload and fosters deeper understanding.

Additionally, microlearning modules’ short and engaging nature fosters increased motivation and engagement among learners. This translates to higher completion rates and a more positive learning experience.

Microlearning’s impact transcends individual benefits, creating a virtuous cycle of empowered employees and thriving organisations. Its flexible, bite-sized format adapts to evolving needs, fostering a culture of continuous learning with personalised pathways. This translates to a double win: boosted employee development and performance.

Microlearning fosters increased productivity and adaptability by fostering a culture of continuous learning within organisations. Upskilling teams with the latest knowledge equips them to tackle ever-changing market demands and technological advancements. This agility empowers organisations to innovate, adapt, and stay competitive in a dynamic business landscape.

Bridging the gap between theory and practice

As 50 per cent of all employees will need reskilling or upskilling by 2025, investing in upskilling and reskilling has never been more critical. Fueled by the rising demand for accessible upskilling, the ed-tech industry, currently valued at US$271 billion and projected to reach US$410 billion by 2026, is witnessing the emergence of innovative startups. 

These companies are dedicated to bridging the gap between academic theory and the practical skills required in the real world. As for us at OpenAcademy, the platform delivers a vast library of microlearning modules designed to address the specific needs of the workforce through a user-friendly mobile app. 

Also Read: Openness and collaboration in education is what the world needs

From learning the intricacies of digital marketing to mastering data analysis techniques, our platform also offers a comprehensive curriculum covering a wide range of in-demand skills.  One of the key strengths of ed-tech startups lies in the commitment to local relevance.

By collaborating with industry experts within regional contexts, these platforms ensure that the microlearning modules offered are directly applicable to the specific needs of the local job market. This localisation empowers individuals to develop highly sought-after skills in their respective fields.

Final thoughts

The digital age presents both challenges and opportunities and necessitates a paradigm shift in how we approach learning and development. Microlearning, with its bite-sized, accessible format, empowers individuals and organisations to thrive in this dynamic environment.

By embracing microlearning, we can cultivate a culture of continuous learning, equipping ourselves with the skills to navigate the evolving digital landscape and achieve success in the years to come.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

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Eighty-two per cent of Gen Z investors in the US started their investment journeys before turning 21, a sentiment echoed by 79 per cent of their Canadian counterparts, 81 per cent of UK-based young investors, and 63 per cent of Chinese Gen Z investors.

Additionally, an American Express survey unveils that millennials and Gen Z also prioritise financial goals and it is one of their top New Year’s resolutions for 2024. With such interest in the financial space, this demographic–also known as Zoomers–are now exploring various ways to make their financial status better. The strategies to meet their financial priorities are AI-driven smart savings accounts, interest-earning lending apps, gaming finance (GameFi), decentralised finance (DeFi) money markets, and financial literacy and education.

While some of these sound daunting for the average person, many Zoomers are leveraging technology and online resources to demystify these concepts and integrate them into their financial strategies. This new-age approach helps them navigate and capitalise on the latest innovative financial tools.

AI-driven smart savings accounts

Gen Z has the broadest accessibility of technology, particularly through smart savings accounts and financial tools. A vital component in this financial revolution is the integration of Artificial Intelligence (AI) in financial services.

AI’s role in finance is multi-faceted, with 85 per cent of financial firms reporting they are currently using AI. The usage of AI in the financial industry could grow to 23 per cent by 2025.

In addition, AI-suggested savings apps are emerging and changing the way Gen Z approaches saving. These platforms use sophisticated algorithms to analyse spending patterns, income, and financial goals, suggesting optimal savings strategies tailored to individual needs.

Wally, for example, is an automated finance app that simplifies budgeting by tracking and categorising expenses, income, and bills from your linked financial accounts. Cleo, another AI app, features an interactive chatbot that offers basic financial advice and advanced insights.

Also Read: A paradigm shift on the Z axis: How Gen Z is shaping the new work culture

Interest-earning lending apps

Interest-earning lending apps are attracting Gen Z and other consumers because of their simple registration processes and fast approvals. These platforms, both centralised finance (CeFi) and decentralised finance (DeFi) provide innovative ways for individuals to grow their savings. There’s a significant demand for digital lending globally, with its market size expected to reach US$795.34 billion by 2029.

Peer-to-peer (P2P) lending apps are gaining popularity among Gen Z and other consumers as innovative savings growth avenues. Platforms like 12 per cent Club, for instance, offer users the opportunity to earn a return of up to 12 per cent on investments.

CeFi platforms are akin to traditional banks but operate digitally. They offer loans and interest-bearing accounts.  In DeFi, Compound is one of the popular DeFi lending platforms. Users can lend any supported cryptocurrency on Compound, and they can borrow any cryptocurrency that is in demand.

By leveraging these platforms, Zoomers are actively taking part in their financial domain, and trying to maximise their earnings in ways that align with their digitally native lifestyles.

Earning through GameFi

GameFi, an industry that blends gaming and finance, gives power to the players by offering sophisticated gameplay mechanics that reward them with monetary incentives for having fun. The GameFi strategy is projected to reach US$90.51 billion by 2031 and could find relevance in the broader market once the traditional gamers realise its potential.

One of the success stories in this space is Axie Infinity, a game where players breed, raise, battle, and trade adorable digital critters called Axies. In the Philippines, Axie Infinity helped people earn money during the COVID-19 pandemic.

Furthermore, platforms like The Sandbox also exemplify the GameFi model that enables demographics who are on the lookout for new and innovative ways to merge their digital lives with financial opportunities.

DeFi money markets

DeFi money market protocols are revolutionising financial interactions, providing new avenues for staking, lending, and borrowing. This move towards autonomy and higher returns especially appeals to Gen Z, who favour digital, transparent, and decentralised finance, aligning with their preference for technology and innovation.

Also Read: Startups in SEA secure millions in funding this week, redefining industries

One example of this is Scallop, a next-generation money market with lending and borrowing for digital assets. Utilising Sui’s Move language, it offers a secure and user-friendly money market protocol. Its institutional-grade features and focus on accessibility have established Scallop’s growing user base on the Sui blockchain, being the fastest-growing DeFi protocol and the first to reach a total locked value of US$160 million by March 2024.

The decentralised platform has processed US$24 billion in lending and borrowing and US$2 billion in flash loan volume. Additionally, Scallop has gained a strategic investment from DWF Labs, a leading Web3 investor and market maker, which will help boost its presence and drive innovation.

Scallop allows users to borrow and lend a variety of assets, including major stablecoins like USDC and USDT, as well as SUI and yield-earning assets like afSUI. Additionally, projects like Typus, Kai Finance, and SuiPearl, built on Scallop, enhance user access to on-chain money markets.

Aave, a decentralised lending and borrowing protocol, is another player. It allows users to lend their assets and earn interest or borrow assets by providing collateral. It has democratised access to credit and interest-earning opportunities, making it another significant platform in the DeFi ecosystem.

Financial literacy and education

Financial literacy and education are crucial for Gen Z’s empowerment, forming the basis of effective wealth management. In 2023, Americans lost an estimated estimated US$388 billion because of their lack of financial knowledge.

Gen Z can benefit from financial literacy resources, gaining essential money management skills and preparation for their financial future.

Final thoughts

The finance domain is complex, yet anyone with enough patience and understanding can achieve such long-term success. Zoomers with innovative and forward-looking financial strategies can not only reshape how they approach money management but also redefine fiscal responsibility.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

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Fundraising can be a daunting journey for any startup, but having access to the right resources and guidance can make all the difference. For entrepreneurs eager to scale their ventures and attract the right investors, e27 has curated a comprehensive list of knowledgebase articles designed to help you navigate the complexities of fundraising.

These invaluable resources, meticulously chosen by e27 editors, are now accessible through Pro Connect with a special offer of a 50 per cent discount for new members. Here’s a sneak peek into the expert advice and insights you can gain from this exclusive collection.

Expert advice for crafting a winning deck, straight from the community

Creating a compelling pitch deck is crucial for successful fundraising, and many startup founders struggle with this. e27 offers a comprehensive collection of articles to guide you. Highlights include crafting a strong problem statement, virtual pitching strategies, and detailed breakdowns of essential pitch deck components. Contributions from industry experts like Ine Jacobsen and Vinnie Lauria provide valuable insights. Additionally, e27’s team offers practical lists and visual guides, and investor Alexander Jarvis shares key factors for investment decisions. This resource is essential for perfecting your pitch deck.

Startup funding rounds: A handbook from seed to exit

Funding rounds are crucial milestones for startups, marking new valuations and investment stages from seed to exit. Self-funding (pre-seed) involves founders using personal funds. Seed funding validates market demands with investments from angel investors or families. Series A expands user bases, Series B scales businesses, and Series C aims for swift, profitable growth. Series D/E rounds are rare, often for mergers or IPOs. Bridge rounds provide interim funding. Exit strategies include IPOs or M&As. Each stage reflects the startup’s growth, attracting new investors and increasing valuation.

Cracking the code: Key traction metrics early-stage investors seek in startups

Investors seek key traction metrics when evaluating early-stage startups, with focus varying by sector. Essential metrics include market opportunity, proven traction, and team strength. Market opportunity involves assessing the total available market, potential market share, industry growth, and international expansion.

Also Read: Crafting a winning healthtech pitch deck: The insider’s guide to attracting investors in 2024

Proven traction requires data on profitability, revenues, user engagement, and partnerships. Pre-revenue startups should highlight user metrics and retention rates. Finally, a strong, passionate team with relevant skills and credentials is crucial for building investor trust and resilience.

Pitching prep: Anticipating key questions VCs pose in pitch sessions

Preparation is essential for pitching sessions with VCs. Founders should expect virtual meetings where they present their startup and answer key questions about their team, market opportunity, product-market fit, and business metrics. VCs like Leung Pui Yan, Abhijit Banerjee, and Eko Kurniadi emphasise the importance of a strong, concise pitch backed by data and a clear cap table. Founders should avoid common mistakes like poor preparation, lack of conviction, and early dilution of equity. Authenticity and thorough research on the VCs are crucial.

Navigating startup funding: A primer on 10 investor types every entrepreneur should understand

Startup funding involves various investor types providing essential capital and expertise. Venture capitalists invest in high-growth startups for ownership shares, while angel investors and syndicates invest early for high returns. Personal investors include friends and family. Accelerators and incubators offer mentorship and seed funding. Banks, government agencies, and retail investors (through crowdfunding) also contribute. Family offices and corporate investors provide strategic investments. Private equity firms invest in startups and mature companies, aiming for growth and influence.

Unlock these resources today and take a confident step towards securing the funding your startup deserves.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Vivien Van Le experienced a series of realisations and frustrations throughout her corporate career across various industries, including online travel, consumer finance, ride-hailing/delivery, and entrepreneurship.

For instance, there was a clear need for travel insurance for visa applications and protection against travel-related risks like flight delays and hospitalisations. Insufficient coverage for passengers and goods in the ride-hailing and delivery sectors, along with challenges in obtaining healthcare insurance, highlighted broader difficulties in accessing insurance, especially for millennials and Gen Zs.

These experiences highlighted significant gaps in insurance accessibility and understanding in Vietnam and across Southeast Asia. Driven by the urge to address these challenges, Le founded Saladin in 2021 to make insurance more accessible and comprehensible for all.

Saladin is a digital platform to connect insurers, intermediaries, and customers. Its services include advanced pricing solutions, claims management tools, and resources for customers and agents to find the most affordable and personalised insurance options.

Southeast Asia’s insurance penetration rates are significantly lower than global averages, with the region averaging 3.6 per cent compared to the global 6.3 per cent and per capita premiums standing at US$135 versus the global US$682.

Empowering millions in Southeast Asia

“Saladin was established with a clear objective: to empower millions of customers and agents to find the best insurance offers, whether personalised, competitively priced, conveniently accessible, or delivered swiftly and securely. Its overarching goal remains grounded in the fundamental principles of insurance: ensuring greater protection and risk-sharing among individuals and businesses,” said Le.

Saladin has an in-house team of insurance agents dedicated to providing consulting and customer service support, both pre and post-sales, to ensure a better customer experience. Licensed as an insurance broker, corporate insurance agency, and Third-Party Administrator (TPA) in Vietnam, the startup has primarily focused on non-life insurance but is poised to expand into life insurance soon.

Also Read: Monk’s Hill Ventures backs Vietnamese insurtech startup Saladin

Le emphasised that Saladin prioritises the value of its tech-driven products and services to enhance efficiency and customer relationships. For example, its platform allows customers and agents to obtain car insurance quotes from multiple insurers within seconds and complete purchases in minutes, with instant policy issuance. In contrast, the general market takes several days to get the same service.

Additionally, for delivery and flight insurance, Saladin can detect, notify, and process claims for trip delays within seconds.

“Customers and agents can use our platform to select or customise the products, accompanied by personalised after-sales support. Any support requests related to your insurance policy will be handled by us on your behalf, ensuring a timely resolution with the insurance company,” she added.

Saladin serves consumers, agents, and insurers across the region.

• For consumers, it offers a one-stop insurance solution that simplifies the process of finding suitable packages. It allows easy comparison, selection, payment, e-policy receipt, and claims submission.
• Agents benefit from free online tools that provide access to a vast pool of potential customers. These tools enable agents to introduce various insurance products and earn commissions without extensive expertise.
• For insurers, Saladin’s tech-driven approach attracts millennials and Gen Z customers who prefer efficient online platforms. Its technology services, customer support, and online claims platform enhance productivity, security, and customer experience while aiding in fraud control.

The company has partnered with nine leading insurers in Vietnam to date and claims to have served about 600,000 unique customers with nearly 10 million policies sold.

“Our agile and cost-effective solutions help overcome barriers associated with legacy systems, enabling insurers to reach customers faster with innovative products through revenue-sharing principles,” remarked Le.

Overcoming challenges and building trust

Le noted that the challenges faced in the insurtech industry closely mirror those in other sectors, such as e-commerce, ride-hailing, online travel agencies, consumer finance, and digital banks. These challenges mainly involve migrating customers from traditional offline practices to digital methods and building credibility as a new player like Saladin.

“To tackle these challenges, we’ve prioritised market education and collaboration with leading insurers and trusted partners nationwide,” Le explained. “By demonstrating the tangible benefits of digital transformation and ensuring seamless integration with existing systems, we’ve alleviated previous concerns and built trust amongst stakeholders at all levels.”

Also Read: A paradigm shift on the Z axis: How Gen Z is shaping the new work culture

Le also mentioned that the insurtech firm had made significant investments in compliance, both in technology and business operations, to meet increasingly stringent regulatory standards typically implemented in more developed markets. Obtaining broker insurance and TPA licenses in Vietnam and implementing rigorous training programs for their staff have been pivotal steps in ensuring top service standards and strict regulatory compliance.

Saladin’s investment journey and future aspirations

Saladin has been funded through a combination of angel and VC investments. Last year, it announced completing its Series A round, led by Monk’s Hill Ventures, with participation from Peak XV Partners, Venturra Capital, and Patamar Capital, as well as a group of angel investors.

The company is now open to exploring additional funding opportunities to accelerate its growth and expand its market reach. The new round will support product development, market expansion, and talent acquisition.

Saladin’s long-term aspiration is to emerge as the premier insurtech platform in Southeast Asia, delivering substantial value to all stakeholders by continually elevating its standards as its operations evolve.

“Our satisfaction stems not only from celebrating major milestones but also from the daily recognition of our ability to help both new and returning customers effectively. We find fulfilment in customer satisfaction and are especially driven by specific feedback that allows us to refine and enhance our services for the future.,” concluded Le.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

Image credit: Saladin

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Dear reader,

Kevin O’Leary, known for his role on Shark Tank, has proposed an ambitious plan to buy TikTok through a crowdfunding initiative.

This effort, announced via Instagram, aims to gauge public interest in collectively purchasing the popular social media platform, although actual payments are not being accepted at this stage.

The campaign, targeting wealthy investors or those with specific financial qualifications, seeks to democratize TikTok and ensure user data protection from foreign entities. This initiative follows recent US legislative actions threatening to ban Chinese-owned TikTok unless it is sold.

O’Leary’s bid, potentially starting at US$20 billion to US$30 billion, reflects a significant devaluation from ByteDance’s last funding round. His plan to acquire TikTok faces competition from notable figures like former Los Angeles Dodgers owner Frank McCourt and ex-Treasury Secretary Steven Mnuchin.

O’Leary has acknowledged the challenge posed by the unavailability of TikTok’s proprietary “For You Page” algorithm, which may diminish the platform’s appeal if not included in the sale.

As a seasoned investor with a history of consolidating software businesses, O’Leary’s initiative underscores the growing interest and complexity surrounding TikTok’s potential acquisition.

Sainul,
Editor.

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NEWS

‘Shark Tank’ judge eyes TikTok acquisition through US$20-30B crowdfunding
Kevin O’Leary’s crowdfunding campaign calls on high-earning investors or those with finance qualifications get involved in potentially creating a US version of TikTok; Earlier ex-Google CEO Eric Schmidt had considered acquiring TikTok.

Cake Group CEO buys ex-CTO’s stake, ending legal feud
The deal between the co-founders ends a six-month legal fight for control over the Cake Group, parent of Bake.io, a hybrid DeFi crypto exchange based in Singapore; Chua filed a lawsuit to liquidate Cake Group in December 2023.

Indonesia probes Lazada, Shopee for possible anti-competition practices
The Indonesian Competition Commission said it found Shopee’s algorithm to prioritise Shopee Express, its in-house logistics service; Both Shopee Express and J&T Express have also been prominently placed on the e-commerce platform’s seller dashboard.

Zypp Electric secures US$15M for Southeast Asia expansion
The investors include ENEOS, 9unicorns, and IAN fund; The fresh capital will fuel the expansion of Zypp’s fleet from 21,000 to 200,000 electric scooters and the scaling of its services to 15 cities across India by 2026.

Singapore rolls out blueprint to accelerate digital transformation
The blueprint charts the next chapter in the city-state’s enterprise digitalisation journey amidst a rapidly evolving technological landscape; 50K SMEs are expected to benefit over the next five years.

Singapore channels US$222M into quantum tech advancement
The National Quantum Strategy aims to advance quantum technology – which refers to the physics of subatomic particles – through research, engineering, talent development, and business collaborations.

Tribe, DISG, NVIDIA join forces to launch AI accelerator in Singapore
With an initial combined investment of US$3M, the four-month programme will launch with a cohort of 15 startups; NVIDIA and Tribe will collaborate with Enterprise SG to offer qualified AI startups funding support.

HSBC, Temasek back Marketnode’s Series A funding
A joint venture between Singapore Exchange and Temasek, Marketnode aims to develop a multi-asset ecosystem starting in APAC; Since 2020, HSBC and Marketnode have been developing a digital market infra that spans credit, funds and structured products.

500 TukTuks, ORZON Ventures execs launch Disrupt Health Impact Fund in Thailand
Disrupt Health Impact Fund seeks to invest in five key areas: self-care, preventive care, silver age, holistic wellness, and smart hospital. It plans to invest in 15 deep-tech ventures, domestically and internationally, within the next three to five years.

Mekong-backed F88 bounces back with US$1.2M profit in Q1 2024
The Vietnamese financial firm had reported US$20.7M net loss last year; By focusing on higher-quality loans, stricter risk controls, and better loan collection methods, F88 said it cut its net write-off costs by 46% year on year in Q1 2024.

Beppo receives pre-seed financing to acquire JuanTax, 5 bookkeeping firms
Beppo leverages AI tech to automate accounting and tax compliance for Filipino businesses and the self-employed; The fintech startup is considering expanding to other parts of Indonesia by partnering with other service providers.

B Capital invests in Indian EV financing, distribution startup Turno
Other backers are British International Investment, Quona Capital, Stellaris Venture; Turno offers financing solutions to SMEs, distributors, logistics firms, and e-commerce firms planning to buy commercial three-wheeler EVs.

Meet the 8 startups attending Innovate UK’s incubator programme in Singapore
Innovate UK Global Incubator Programme is an initiative between Singapore Deep Tech Alliance, Better Earth Ventures, and Innovate UK; This year, the programme’s focus is sustainability and cleantech.

Philippine e-commerce enabler Etaily expands to Singapore
Etaily’s infrastructure covers various aspects of online commerce, including marketplaces, direct-to-consumer apps, and social commerce; Six months ago, Etaily secured US$17.8 million in Series A funding.

Grab, OpenAI partner up to build AI tools for super app’s users, staff
Initially, the partnership will focus on three areas: accessibility, customer service, and mapping; For instance, AI-powered text and voice functions aim to help visually impaired and elderly users who may struggle with Grab’s normal interface.

FEATURES & INTERVIEWS

Right Choice Capital CEO on surpassing revenue milestones, future innovations
Right Choice Capital recently achieved 114% y-o-y revenue growth and crossed the US$7.4M revenue threshold while maintaining EBITDA.

‘GovTech Edu wants to become a thinking partner of Indonesian government, not a feature factory’
GovTech Edu prioritises user needs, conducts in-depth research, and focuses on teacher training to build tech solutions and make an impact.

Financial world is the first to be transformed by Web3: Saison Crypto’s Qin En Looi
Saison Crypto Partner says scalability is a concern, with current blockchain networks struggling to handle high transaction volumes efficiently.

AI voice analysis startup BizBaz aims to fix broken credit scoring with 80% accuracy
Unlike traditional credit scoring solutions, BizBaz can determine an individual’s creditworthiness from his 50-second speech or interview.

The 15 Indonesian startups that have given us reasons to keep believing in the ecosystem
This prospect might sound bleak. But even in the darkest of times, we find reasons to keep on believing in Indonesian startups.

Addressing barriers to AI adoption in SEA: What tech entrepreneurs can do to help businesses cross that bridge
The increasingly widespread use of AI does not mean there are no barriers for businesses in SEA to adopt it.

CONTRIBUTORY ARTICLES

What living with the Big C has taught me about Web3 (Part 3)
My dream is for all of us to build a world in which Web3 has forever changed for the better, I won’t let cancer stop me from helping make this come true.

Indonesian crypto exchange Reku turns profitable in 2024
Significant price movements in Bitcoin often lead to increased overall market activity, which is generally positive for Reku; In Q1 of 2024 and Q4 of 2023, the company experienced some of the highest trading volumes in its history.

Why I joined a startup: Insights and reflections from my journey
As the startup landscape evolves, I remain optimistic about the future and excited about the possibilities that lie ahead.

What if drawing just 6 pictures is all it takes to take your business to the next level?
When faced with a problem, our brains naturally perceive it from six angles: why, who/what, how much, where, when, and how.

Digital transformation for nonprofits: 3 strategies for success
By embracing a culture of learning and innovation, nonprofits can use these tools to make a greater impact on the communities and causes they support.

Don’t trust the scan: Protecting yourself from QR code attacks
QR code phishing attacks (quishing) use physical or digital QR codes to lure users to fake websites designed to steal sensitive information or to infiltrate a device and infect it with malware.

FROM THE ARCHIVES

APX wants to revolutionise logistics in SEA with ‘less-than-truckload’ innovation
APX’s LTL model allows customers to pay only for the space they use rather than chartering an entire truck seen in the full-truckload model.

The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

Why AI needs context and curiosity, not toxic positivity
Savvy data practitioners now realise that governance, while never sexy, has taken on a new and heightened importance in the age of AI.

AI: Boon or bane? Workers fear job loss despite productivity gains
Most business leaders see AI as a tool to boost employee productivity rather than cut jobs, suggesting it will replace tasks, not entire roles.

RizqX aims to further promote its halal investment platform
By consolidating a diverse range of Shariah-compliant investment options from global institutions into an all-in-one platform, RizqX provides users with detailed reviews and educational resources.

Human-AI collaboration: The key to unlocking Gen AI’s potential
The Gen AI era is here to stay and will evolve, requiring regular, institutionalised, and purposeful collaboration for a bright future.

AI infrastructure: The unsung hero of technological innovation
While AI’s applications and ethics dominate discussions, the crucial infrastructure powering its development remains a silent force shaping our future.

How these 7 API powerhouses streamline businesse, powering innovation in API economy
Discover how these 7 API companies are reshaping industries, streamlining business operations, and driving innovation in the digital economy.

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The post Ecosystem Roundup: ‘Shark Tank’ judge eyes TikTok acquisition | Lazada, Shopee under probe in Indonesia | Cake Group legal feud ends appeared first on e27.

Ready. Set. Respond.

These are the actions that individuals take when faced with the need to help and support vulnerable communities affected by natural disasters or calamities in today’s world. It is these same actions that guide the values and beliefs of the SAFE STEPS D-Tech Community Hub.

The current generation is met with numerous challenges and problems produced by dynamic and changing climate conditions. According to the Centers for Disease Control and Prevention, there are approximately 400 natural disasters that happen annually as a result of climate change. Additionally, as reported by The Zebra, there are an estimated 218 million people impacted yearly by these calamities.

It is due to such statistics that the SAFE STEPS D-Tech Community Hub is born. Driven by the belief that everyone should always prepare for natural disasters — as well as that it is better to collaborate to address these problems than work alone — the hub is the first globally accessible platform for stakeholders in disaster tech and sustainability to work together towards a more resilient future.

Also read: Check out these key highlights from Echelon X!

To emphasise the need for more collaborative efforts against natural calamities, the hub organised at Echelon X a pavilion exhibit and showcase of its member startups from its community who have established themselves in the space of disaster risk management and reduction in Southeast Asia.

Meet the 8 startups championing various initiatives to address the world’s disasters

1) Wateroam

Co-founded by David Pong, Chong Tee Lim and Vincent Loka, Wateroam is a water innovation company that creates portable water filters to deliver safe drinking water to communities in rural and disaster-affected areas. 

Wateroam has collaborated with organisations such as Red Cross, World Vision and Mercy Relief to provide safe drinking water to 100,000 people in 38 countries. Wateroam has also been recognised as a United Nations Young Leader for Sustainable Development Goal 6 – ensuring safe water and sanitation for all.

2) Castomize

Built by founders Abel Teo and Jia Yee Teo, Castomize is an innovative med-tech startup that employs advanced manufacturing techniques to produce orthopaedic casts that are durable and easy to wear.

The company’s dream is to build a world where everyone – regardless of financial or social status – can access the healthcare needed to live life to the fullest.

3) StratifiCare Pte Ltd

StratifiCare specialises in the development and manufacturing of in-vitro diagnostic (IVD) assay solutions for personalised medicine. It is a business primarily led by Anthony Chua and Tiffany Fan Lin.

With over 50 years of combined experience in biomedical research and technology commercialisation, the company is committed to supporting physicians in making informed decisions for individual patient care, thereby enhancing clinical and socioeconomic outcomes.

4) Solnovation Analytics Sdn. Bhd.

Located in Malaysia, Solnovation leverages technology to enable customers to make informed decisions and improve lives in a universally connected ecosystem. It achieves this by providing an industrial IoT platform, visual AI image tools and algorithms to empower those in the sectors of agriculture, commerce, logistics and the like to create data-driven decisions.

Created by Cyril Mathias and Devan Rajam, the goal of Solnovation is to help organisations improve business yield, productivity and efficiency through the use of technology.

Also read: Break boundaries with Ideathon: 2040 Extended Intelligence

5) Usher Technologies

Usher Technologies is a startup based on the values of innovation and social responsibility. The business – which is located in the Philippines – focuses on providing products and services that reinforce the safety and resilience of buildings and similar infrastructures against seismic events such as earthquakes.

Under the leadership of Dr. Francis Uy, Usher Technologies uses structural monitoring and condition-based maintenance to protect urban communities from natural disasters.

6) Bike Scouts

Myles Delfin initiated the Bike Scouts project in the Philippines in 2013. To date, it is the only Volunteer Bicycle Messenger service catering to disaster response at the frontlines of most natural disasters in the communities where the project is based.

The Bike Scouts group believes in using bicycles and social teamwork to deliver help, hope, and courage wherever they operate.

7) TAPP! Global

Established by Ryan Chan and Ee Jayden, TAPP! Global is a company that envisions itself to be the gateway to enhanced networking. It hosts a suite of professional solutions – such as NFC business cards for exchanging of contact information, an AI-powered messaging service for follow-ups of conversations, and a comprehensive analytics dashboard providing networking insights.

TAPP! Global also takes pride in its user-centric design and functionality that help to contribute to a greener planet.

8) Alerto PH

Seeing the need for local government units (or LGUs) in the Philippines to transition towards building smart cities, Cristina Macaraig founded Alerto PH.

Cristina’s startup aims to work closely with the Philippine government to adopt AI-powered IoT technology and digitally transform it to provide safer communities for Filipinos through innovative solutions.

Also read: Taiwanese startups join forces with Southeast Asia to venture into Tokyo, Japan

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To learn more about the D-Tech Community Hub and its member startups, you can visit this link. You can also register here to officially join the community.

The SAFE STEPS D-Tech Community Hub is an initiative by the Prudence Foundation, in partnership with e27, Amazon Web Services (AWS) and the International Federation of Red Cross (IFRC).

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Investors are placing big bets on Southeast Asia’s burgeoning startup scene! This week saw funding flow across various sectors, highlighting the region’s diverse innovation.

Singapore’s Marketnode, aiming to build a multi-asset digital marketplace, secured backing from giants like Temasek and HSBC. Proptech platform WeSale in Vietnam is leveraging AI and automation to streamline real estate transactions.

In the Philippines, Beppo is making accounting and tax compliance a breeze for businesses with its AI-powered solution.

Meanwhile, India is witnessing a surge in electric vehicle (EV) startups. Zypp Electric’s US$15 million Series C funding fuels its mission for carbon-free last-mile delivery, while Turno, an EV financing and distribution platform, secured US$6 million to expand its reach.

This funding spree reflects the immense potential of Southeast Asia’s startups to disrupt industries and create a more sustainable future.

Marketnode (Singapore)

Marketnode is a digital market infrastructure operator aiming to develop a multi-asset ecosystem starting in Asia Pacific. Since 2020, HSBC and Marketnode have been developing a digital market infrastructure that spans credit, funds and structured products.

Funding: Undisclosed
Stage: Series A
Investors: Temasek and HSBC

WeSale (Vietnam)

WeSale is a proptech platform connecting partners, individuals and organisations to project owners and developers. By applying WeCRM technology, real estate transaction tools, and generative AI, WeSale aims to improve the quality of consulting and transparent and effective real estate transactions for members, brokers, business partners and project development units.

Funding: Undisclosed
Round: Seed
Investor: Hitseries Capital (lead).

Beppo (Philippines)

Beppo automates accounting and tax compliance for Filipino businesses and the self-employed. Its AI technology uses OCR (optical character recognition) software to capture data from receipts and categorise transactions, saving time and reducing errors. JuanTax’s acquisition will help Beppo become a one-stop shop for Filipino businesses to manage their finances and navigate tax filing requirements.

Funding: Undisclosed
Round: Pre-seed
Investor: Wavemaker Partners.

Zypp Electric (India)

Founded in 2017 by Akash Gupta and Rashi Agarwal, Zypp is an EV-as-a-service platform aiming to make India carbon-free by leveraging EVs and EV-based technology for sustainable last-mile logistics. Its business model prioritises carbon-free delivery services for local merchants, e-commerce giants, and delivery executives, reducing both delivery costs and pollution.

Funding: US$15 million
Round: Series C
Investors: ENEOS, 9unicorns, IAN fund, venture catalysts, and WFC.

Turno (India)

Set up in April 2022 by former Zoomcar’s C-level executives Hemanth Aluru and Sudhindra Reddy, Bengaluru-based Turno offers financing solutions to SMEs, distributors, logistics firms, and e-commerce operators that plan to buy commercial three-wheeler electric vehicles (EVs).
Buyers can access an array of top original equipment manufacturer (OEM) brands, EV models, and financing solutions on its EV sales platform, which features both online and physical stores.

Funding: US$6 million
Round: Series A+
Investors: B Capital, British International Investment (BII), Quona Capital, and Stellaris Venture Partners.

The post Funding frenzy in SEA: Fintech, proptech, EV startups secure millions appeared first on e27.

The Economic Impact Report 2024, commissioned by Google, highlights significant potential benefits from AI adoption in Singapore. Launched during the Google AI Connect Summit, as part of the recent ATx Summit in Singapore, the report estimates that AI-powered products and solutions could contribute S$198.3 billion (US$146 billion) to Singapore’s economy by 2030, nearly 30 per cent of the country’s 2023 GDP.

This projection underscores the importance of effective partnerships with private sector leaders to maximise AI’s economic impact. The report also emphasises Singapore’s strategic positioning within the region to harness AI for economic growth, supported by governmental initiatives to nurture local AI talent and promote adoption across key sectors.

One of the report’s critical findings is the potential to prevent S$18.5 billion (US$13.6 billion) in cybercrime losses by deploying AI-powered cybersecurity measures.

As AI evolves, so do cybercriminals’ tactics. They increasingly use AI to enhance their attacks’ scale, speed, and sophistication. AI’s dual-edged nature necessitates parallel investments in robust cybersecurity infrastructure. Singapore aims to bolster its defences against cyber threats by leveraging AI and aligning its AI development with comprehensive cybersecurity strategies.

Singapore is one of the first countries to introduce a National AI Strategy (NAIS) in 2019 and is investing S$1 billion (US$700 million) to support AI development.

Also Read: Unleashing the power of specialised AI startups in the era of generative AI

Complementing these AI initiatives are efforts to enhance cybersecurity skills and tools. Recognising the increasing threat of AI-enhanced cybercrime, the government is investing S$50 million (US$36 million) to strengthen its cybersecurity workforce. This investment aims to develop a more robust digital ecosystem, equipping professionals with the skills needed to combat sophisticated cyber threats.

Driving AI adoption in Singapore

The report also revealed that AI adoption in Singapore is driven by strong public interest. Seventy-eight per cent of Singaporeans are keen to learn more about the technology, and more than half are already using Generative AI.

This widespread engagement reflects a robust enthusiasm for AI technologies, though a significant emphasis is on responsible AI development. A survey by Ipsos revealed that 38 per cent of Singaporeans prioritise ‘responsible’ AI development, a higher percentage compared to other developed markets such as the UK (29 per cent) and the US (33 per cent).

In the report, Google explains its role in promoting AI adoption in Singapore through collaboration with the Singapore government. This partnership aims to facilitate broader access to AI technologies. For example, Google’s AI system, Gemini, is integrated into popular products such as Gmail, Docs, and Slides.

The economic impact of AI in Singapore is substantial. In 2023, Google said that its AI-powered products and solutions contributed S$14.7 billion to the economy.

Also Read: Unleashing the power of specialised AI startups in the era of generative AI

This significant financial benefit underscores the potential of AI to drive economic growth and improve efficiency across various sectors in Singapore, highlighting the tangible advantages of integrating advanced AI technologies into everyday activities and business operations, the report stressed.

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Image Credit: Google

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In the wake of the FTX collapse in late 2022 and subsequent crypto contraction, The Atlantic boldly published a think piece titled “You Can Forget About Crypto Now.” Sure enough, the doom and gloom outlook on digital assets was palpable for more than a year thereafter

Meanwhile, AC Ventures Founding Partner Pandu Sjahrir asserted on an episode of Indonesia Digital Deconstructed that crypto “remains intact as an asset class.” Fast forward 15 months. Jesse Choi of the Indonesian crypto exchange Reku, backed by ACV, recently joined the podcast to report that his company has become profitable.

“I’m pleased to share that the first quarter of 2024 has been our strongest in the last two and a half years, both in terms of trading volume and financial outcomes. Not only was it our best quarter for volume, but it was also exceptionally profitable. Our profit margins exceeded 50 per cent, which marks a significant achievement for us. We are incredibly pleased with these results,” said Choi, who co-founded the exchange and serves as co-CEO. 

Scheduled halving and the BlackRock effect

The significant resurgence in the crypto market in 2024, particularly with Bitcoin reaching all-time highs, can be primarily attributed to two major factors: the Bitcoin halving event and the legitimisation of the crypto sector at large via the introduction of BlackRock’s Bitcoin ETF.

The Bitcoin halving, a scheduled event that reduces the reward for mining new blocks by half, occurred earlier in the year. This reduction in the rate at which new Bitcoins are introduced led to an increase in price, as the reduced supply with steady or increasing demand tends to push prices higher. The market has closely watched this halving and is seen as a bullish event for Bitcoin’s value.

In parallel, the launch of BlackRock’s Bitcoin ETF has played a critical role in legitimising crypto within the institutional financial landscape. The ETF allows for more institutional and retail investment exposure, increasing Bitcoin’s liquidity and integrating it into the broader financial market. 

Also Read: 5 dimensions of responsible AI: Enhancing societal needs with blockchain

BlackRock’s move has been particularly potent due to its stature as the world’s largest asset manager, adding a layer of credibility and stability to the crypto market that was previously perceived as too volatile and risky for most investors. The ETF not only simplifies investment in Bitcoin but also promises more accurate price tracking and potentially lower fees relative to other investment methods.

These developments have collectively spurred a bullish sentiment across global crypto markets, leading to increased adoption and investment, both from institutional investors and retail traders, thereby driving the price of Bitcoin to new heights.

When asked what these things mean for exchanges like Reku, Choi said, “Significant price movements in Bitcoin often lead to increased overall market activity, which is generally positive for us at Reku. This has been particularly evident in the last two quarters—Q1 of 2024 and Q4 of 2023—where we experienced some of the highest trading volumes in our history. As an exchange operating on a volume-based revenue model, these periods of heightened activity have contributed substantially to our financial performance, making these quarters very successful.”

Regulatory and institutional legitimisation

Choi went on to address regulatory trends in the digital assets market, highlighting the evolving landscape across various jurisdictions, with a particular focus on Southeast Asia. He noted that while the US tends to lead in the formulation and implementation of digital asset regulations, other regions are also making strides. According to Choi, most countries are moving toward more positive regulatory frameworks, which not only foster adoption but also further enhance the legitimacy of the crypto space.

He specifically mentioned Hong Kong’s proactive efforts to establish itself as an Asian crypto hub, which is indicative of the region’s forward-thinking regulatory approach. Meanwhile, in Indonesia, regulatory responsibilities are soon transitioning from the Commodity Futures Trading Regulatory Agency (BAPPEBTI) to the Financial Services Authority (OJK). This shift signals a recognition of crypto as a legitimate financial instrument in the archipelago and indicates a move toward stricter regulation – which Choi confirms is a good thing for Reku.

Also Read: To leverage Web3 technologies, Web2 companies may start by building the right culture

The move is part of a broader trend where governments are increasingly affirming their stance on digital assets, often with a collaborative and open approach to regulation and innovation. For instance, the inauguration of Indonesia’s “Crypto Literacy Month” by the government, featuring prominent figures from the community, underscores the market’s commitment to educating the public and integrating digital assets into the mainstream financial ecosystem.

A hedge against inflation

This regulatory progression is critical, as it not only shapes the operational landscape for companies like Reku but also affects the broader adoption and integration of crypto into global systems.

Choi reflected on the evolution of Bitcoin’s role and perception in the financial landscape, noting clear shifts in how it is viewed and utilised, suggesting that Bitcoin is now often compared to gold – seen as a hedge against inflation. 

He said, “As we consider the trajectory of Bitcoin, it’s clear that the narrative surrounding its purpose has evolved. Initially regarded as a form of decentralised money, Bitcoin’s role has increasingly come to be defined as a store of value rather than a medium for transactions. With its integration into more formal financial structures, such as the emergence of ETFs, and its broader acceptance by various governments and global institutions, Bitcoin is demonstrating that it can be a resilient and valuable asset class, even in the face of economic fluctuations.”

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Image credit: AC Ventures

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