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The digital decade in SEA: How the UK plans to embrace it with the local startup ecosystem

The tech startup ecosystem does not stand in a silo. This is why collaboration with different parties is crucial in growing and developing the ecosystem, including with government institutions of other countries.

In Singapore and Southeast Asia (SEA) in general, the UK has done several initiatives to connect with the local tech startup ecosystem. The UK-Southeast Asia Tech Week, which is set to happen on March 13-20, are held in three SEA countries: Indonesia, Malaysia, and Thailand. The event will bring down 25 British tech companies in the climate tech and IoT segments; during the week, they will get to meet local investors, entrepreneurs, and policy-makers to figure out areas of potential collaboration.

Apart from the event, the UK became a Dialogue Partner to ASEAN, in addition to a new digital innovation partnership with the organisation that aims to identify potential collaboration, particularly on relevant issues in SEA.

Recently, Singapore has also seen a wave of British tech companies entering the market. One example of such companies is Aurrigo International which has partnered with Changi Airport Group to develop and test its autonomous aviation baggage handling products.

To understand more about the available opportunities for SEA startups in the UK, e27 speaks to Natalie Black, HM Trade Commissioner for the UK.

Also Read: This year, International Women’s Day calls for the tech startup ecosystem to look within

In this conversation, we discover more details about how the country views this region and why collaboration is even more essential today. The following is an edited excerpt of the conversation:

How does the UK view the SEA tech startup ecosystem?

I will start with SEA as a whole, then we can look at the tech sector in particular. When you look at the SEA economy as a whole, despite all the challenges that the whole world has been through during the pandemic, it is doing remarkably well. If the predictions are right, it will be the fourth-largest economy by 2027. And if you’re seeing its growth rates now, it looks like they’re going to overtake China, the US, and Europe. So, from our point of view, SEA is the part of the world to watch.

Why is that? I think there are great ideas here. There’s a lot of innovation. And it’s a very young, dynamic population. When you look at places like the Philippines, the average age is 24. As a consequence, people have high expectations about what they want their society to look like and they know that digital can make a real difference.

So, when we look at the tech sector in SEA, the UK sees lots of opportunities to collaborate, lots of opportunities to learn, and lots of opportunities for both all of us to mutually benefit.

What are the advantages that startups in SEA can get when they are collaborating with startups in the UK?

If you look at issues like climate change, and how we all live up to the commitments that we are making on net zero … The reality is, no one can do this alone. What we have to do is build relationships and partnerships that will tackle global problems using technology.

Also Read: Whoever wins the US election, the true winner will be the Southeast Asian tech startup ecosystem

Particularly when we look at climate change in SEA, the region is at the forefront of some of the biggest challenges in terms of islands disappearing and rising sea levels … That provides a lot of demand for new technologies and new ways of doing things. From the UK tech sector’s point of view, they’re looking for opportunities to pilot, try new ways of working and find great people to work with.

Across SEA, there is a lot of tech talent. If you have seen the Google, Temasek, and Bain & Company report, they talked about how the digital decade has now come to SEA. And I think that is really true.

So, the UK tech sector looks at SEA and sees that the digital decade is here. And they want to be part of that. Because they know that it’s an opportunity to grow their businesses, to help businesses grow here, and ultimately solve some of the biggest problems that we face as a community.

When you’re collaborating with startups, what is the philosophy behind the collaboration?

There is a lot that we can learn from startups in SEA. For the very first time, the UK launched a new initiative called the Digital Trade Network. This is the first time we did this anywhere in the world, and we chose SEA and Asia Pacific because we could see the opportunity for mutual learning.

So we have brought British experts in tech, who are now based across the region. So in SEA, we have someone in Singapore, Jakarta, Bangkok, and also in Australia, Japan, or elsewhere.  They are looking to see how can we learn from the tech ecosystem in SEA. How can we find ways to pilot new ways of doing things? And how can we find the next generation of tech unicorns in SEA and work with them as early as possible?

Through the Digital Trade Network, we’ve worked now with a couple of 100 British tech companies who are interested in Asia Pacific particularly. We’ve whittled that down now to just over 60 companies that are looking at scaling opportunities here. We already have a number of success stories of British companies setting up offices here, hiring local talent, growing the business and contributing to the economy.

What do you think we should do to further promote collaborations between these different parties?

I think we should shine a light on those companies and show what is possible because it will encourage others to come and hire locally, and create new jobs and opportunities.

I also want to see companies from SEA coming into the UK as they think about their global expansion as well. In June, we have London Tech Week, which is the biggest tech conference in Europe. That’s a great opportunity for companies in Southeast Asia, to explore opportunities to expand in the UK, also look at fundraising opportunities, and learn from others.

Also Read: Go global: The mantra for Indian tech startup ecosystem

Let us just say there is a startup from SEA that would like to enter the UK market. Will there be any help to make it easier for them?

We have a programme called the Global Entrepreneurs Program. So, you have to apply for it. It’s a competitive process, but if you’re successful in getting onto this programme, you are partnered with an entrepreneur who has been through this process. They’ve done it themselves in terms of setting up businesses, and they will help you navigate the process, make it feel quite straightforward and really transparent, and help connect you with the right people. And also help you understand the UK market. We’ve had quite a few companies come through from Singapore.

So, what is next for the UK in SEA?

I’m always asking my team that question. We need to go bigger; we need to go bigger.

As we come out of the pandemic, and the global economy starts to speed up again, we know that the problems facing the world are not getting smaller. In some ways, they’re getting bigger, and they’re getting more complex. So, for us, we’ve had quite a big focus on supporting cybersecurity companies, supporting companies in Artificial Intelligence … because we have a digital economy agreement with Singapore.

But as we think about the future, the big focus will be on climate tech. We can see the demand in SEA and around the world. In the UK, we have just over 350 climate tech companies, and we know that they want to be in SEA. So, the focus of the next year will be bringing the best of UK climate tech to the region.

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

Image Credit: British High Commission in Singapore

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EasyStore acquires NovoChat to automate customer communication at SMEs using ChatGPT

NovoChat Founders

Malaysia-based EasyStore, a provider of unified commerce solutions in Southeast Asia, has acquired Singapore-based chat commerce platform NovoChat.

The details of the transaction haven’t been disclosed.

Through the acquisition, EasyStore merchants will be able to manage and automate customer communication with the help of ChatGPT across multiple chat channels, including WhatsApp, Messenger, LINE, and Telegram, from a single centralised inbox.

As per a statement, the move will benefit over 50,000 SMEs across Malaysia, Singapore, Indonesia, and Taiwan. CEO Frost Chen said: “Our acquisition of NovoChat will further strengthen our ability to serve APAC and Taiwan SMEs to sell their products and communicate with their customers on multiple channels.”

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

EasyStore empowers businesses to streamline operations and reach a broader customer base through sales across multiple online and offline channels. Its admin interface allows merchants to manage sales effectively and keep inventory in sync across various channels, including social media, marketplaces, and point-of-sale (POS) systems.

It also offers a cloud-based point-of-sale interface to allow retailers to easily create and process orders at brick-and-mortar shops, pop-up shops, exhibitions, or other offline events. At the same time, they can keep all orders, inventory, and customer information seamlessly integrated and accessible through the cloud.

The firm recently established new regional offices in Taiwan and Singapore.

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

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‘It is not just another event but an opportunity for all’: TOP100 alumni share their experience

Until 2019, the TOP100 competition was mainly conducted offline, wherein selected startups would pitch their products in front of judges at a physical venue in their respective countries in Southeast Asia, India, and Bangladesh. The event is entirely online this time.

TOP100 is a curated programme designed to discover, showcase and accelerate the next generation of up-and-coming startups.

Since 2011, thousands of startups have pitched at the event. They made a lot of connections and learnings, and some went on to raise multi-million dollars in funding. TOP100 is now not just a startup pitching competition but has become a regional startup programme that provides them with opportunities and features to elevate their startups.

Also Read: These 15 startups might just be part of this year’s TOP100

We spoke with some of the TOP100 contestants of 2019, and they shared their key takeaways with us.

David Henderson, CEO and Founder, DRVR

DRVR was delighted to win the Echelon TOP100 for Thailand in 2019 and then go on to finish in the Top 10 in Singapore. This was an excellent experience for the company, especially for Victoria, our business intern from Ngee Ann Polytechnic in Singapore.

We finished in the Top 10 out of 600 startups across Asia.

This event gave us massive exposure and led to a significant partnership with a Japanese company. We are now discussing taking a significant stake in our business.

The Echelon TOP100 is an excellent way for startups to gain exposure to customers, investors and partners. Our staff loved the experience and grew in confidence as a result.

We recommend participating in the event to help grow your startup and take it to a global stage!

Fateh Ali, Co-founder & CEO, Kitcod.com (Social API)

Our three takeaways from the event.

1: It provided meaningful experiences for startups and entrepreneurs to learn about emerging technologies from engaging keynotes, discussions and from startup founders themselves at the booth.

2: Attendees can build relationships with like-minded individuals in the startup and technology industry, specifically in new technology sectors.

Also Read: Why your startup deserves to take part in the 2023 TOP100

3: e27‘s powerful community inspires and motivates attendees to continue their journey in the technology industry. It offers an excellent opportunity to expand their knowledge of the latest tech and funding and connect with a supportive network of individuals from startups and enterprises.

Overall, attending TOP100 was an unforgettable experience! From meaningful event experiences to powerful networking opportunities and a vibrant sense of community, it’s not just another event, it is an opportunity for all.

Antoinette Patterson, Co-Founder and CEO of Safe Space

I had an exciting experience. I missed the Singapore pitch, so I flew to Malaysia for a day to pitch there. I’m grateful to the Malaysia team for choosing me to join the TOP100 event.

The TOP100 startup event provided learning opportunities and exposure. My learning from the event was never to give up!

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

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These sisters are on a mission to popularise immersive technologies in Brunei

Nursheila Ziziumiza (first on the front row) and Sarinah Ziziumiza, with the other team members of Rumine Corporation

In 2018, Nursheila Ziziumiza and her younger sister Sarinah Ziziumiza, who are passionate about immersive technologies such as Augmented Reality (AR) and Virtual Reality (VR), decided to try their luck at the BICTA (Brunei Info-Communication Technology Awards).

BICTA is an annual event co-organised by the Ministry of Transport and Infocommunications, the Authority for Info-Communications Technology Industry of Brunei Darussalam (AITI) and InfoCom Federation Brunei (IFB) to stimulate innovation and creativity in the ICT industry amongst individual, students and associations including SMEs. It aims to be the benchmark for local ICT companies and educational institutions to compete with each other and to represent Brunei in the Asia Pacific ICT Alliance (APICTA).

The sisters submitted two projects, ‘MechSim’ and ‘GoBacker’, with the BICTA.

Mechsim is a virtual assembly simulation for basic learning and training for employees and students using virtual reality and hand gesture sensors. Gobacker, on the other hand, is a crowd-sourcing platform where a community can build around innovative ideas to market them to the public.

The projects won the competition, earning the sisters a place at the APICTA.

“After this event, a company approached us to create a Safety Hazard VR for them. This was a turning point. This motivated us to start our own company in 2020,” Sarinah tells e27.

Rumine Corporation was founded by the Ziziumiza sisters. Sarinah, the CEO, also heads the Centre of Technology Enhancement Learning (CTEL) at the Institute of Brunei Technical Education (IBTE). Nursheila, the CTO, is a system engineer at E-Government National Centre (EGNC). Both are also part of the committee manager for Digital Makers Asia Pacific (DMAP), Google Developer Group (GDG), and Women Techmakers (WTM).

In a nutshell, Rumine Corporation enables businesses or industries to create customised AR, VR, Mixed Reality, Extended Reality (XR), and Applied Games (AG).

Also Read: ‘It will take another 5-10 years to rebuild the Myanmarese startup ecosystem’

“AR/VR and applied games technologies offer a whole new experience, and these technologies can enhance industry operations,” says Sarinah. “AR/VR and applied games-guided training and instructions, combined with remote support, provide instant access to expert knowledge for client workforces. We want to see our nation Brunei adopt such technologies.”

The company offers a customisable platform for personalised learning where users can train remotely. With the solution, more competency skills can be developed and provide cost-effective operation benefits via technology towards the green economy and social mobility.

According to Sarinah, the sisters’ experience in content and digital strategies across different areas allows them to support the full development of AR/VR products from concepts to delivery.

“Before establishing Rumine Corporation, immersive technologies were new and not widely known in Brunei,” says Sarinah. “Therefore, we began experimenting with the technology and combining our expertise. When Rumine was founded, few people were initially aware of its existence. We then joined competitions, such as CIPTA, ASEAN Korean Startup, Accelerate, Livewire and DST InnoLab, to showcase our projects.”

And then the company started drawing attention and began to grow.

With its solution, Rumine Corporation targets vocational-technical and lifelong learners. It plans to capture at least 5 per cent of Brunei’s market share. It will also expand to South Korea as its digital economy is ranked number one globally.

The startup follows different business models: The B2B model enables corporate clients to reach them for project customisation, while the B2C model focuses on e-commerce for independent learners. At the same time, the B2B2C model offers a SaaS platform where training providers can visit the platform and browse for training content.

Immersive tech industry in Brunei

Brunei has a relatively small gaming industry compared to other countries in Southeast Asia, but it is growing steadily. The industry is still in its early stages, but there are indications of positive growth and potential for further development, says Nursheila.

“Some trends and factors contribute to the growth of the gaming industry in Brunei, such as mobile gaming is the dominant gaming platform in Brunei,” notes Nursheila. “The widespread availability of smartphones and affordable mobile data plans have contributed to the growth of the mobile gaming industry.”

VR gaming is still a new market in Brunei but is growing in popularity. The country’s first VR gaming arcade was opened in 2018, and more are expected to follow.

“The Brunei government has expressed its support for developing the country’s gaming industry. It has also recognised the potential of the industry to create employment opportunities and boost the economy,” she shares.

E-sports is also a growing trend, with increasing tournaments and competitions being held in Brunei. The Brunei E-sports Association (BESA) was established in 2019 to promote and develop e-sports in the country.

Rumine Corporation seeks seed funding to develop its product and services, build a team, and expand the business. The capital can also help attract and retain talented individuals by providing them with salaries and benefits and building a strong team to execute its vision. Furthermore, the money will help it accelerate our growth and develop its products and services more quickly.

The Ziziumiza sisters’ ultimate objective is to help their nation thrive in immersive technologies. “We hope more and more people will use immersive technologies in the future, as digital innovations are growing rapidly,” Nursheila says.

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

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

Today, we celebrate International Women’s Day, and I am celebrating my fourth anniversary at Airwallex. This year’s theme of “Embrace Equity” really resonates with me on a personal level as I reflect on my journey at Airwallex.

Throughout my time here, I have felt empowered and supported and have been provided with the ideal platform and resources to grow professionally and contribute meaningfully to the company’s exponential growth. I am excited to share my story.

My early career experiences and interest in fintech led me to Airwallex

I started my career with the Economic Development Board (EDB), a statutory board under the Ministry of Trade and Industry. It was a privileged position that gave me broad exposure to the workings of the government and the public sector in Singapore and the trust to manage relationships with senior executives of some of the largest multinational corporations operating here in the region.

While at the EDB, I was heavily involved in initiatives and discussions to grow the tech sector in Singapore and felt drawn to being a part of the industry itself. That led me to App Annie, which has now been rebranded to data.ai, a Silicon Valley-based company that was the industry leader in mobile app intelligence and analytics. There I led strategic partnerships for Asia Pacific, forming product partnerships with app publishers and other players in the mobile ecosystem.

The world of tech is fascinating, and the pace of startups to innovate and thrive is exhilarating. I know that this was ultimately where I wanted to be. But personally, I have always been curious about payments and financial services innovation. It’s something that touches on almost every aspect of our lives. Serendipitously, I came across Airwallex and was drawn to its mission to create a global payments and financial platform for modern businesses.

Also Read: This year, International Women’s Day calls for the tech startup ecosystem to look within

Airwallex was still in its early days at that time. It had just obtained its status as the fastest-grown unicorn in Australia but had a limited presence outside of Australia, including in Singapore. I was torn between joining a fast-growing, relatively young company versus a more established organisation where I could learn the ropes and get my feet wet in the industry.

What it boiled down to was the growth opportunity I saw in each business. The bigger firms preferred someone with relevant experience, whereas Airwallex embraced diversity and welcomed the fresh perspectives I brought. Instead of focusing on my past experience, they hired me with the mindset that I could grow along with them.

So, as much as I sometimes say I took a chance on Airwallex, in many ways, Airwallex took a chance on me.

I began my career in payments and never looked back

I officially joined Airwallex in early 2019 as a Strategic Partnerships Manager. There wasn’t a lot of us back then, so we all ended up wearing many hats to support the business. I took care of all types of partnerships in APAC at the time – from managing our relationship with financial institutions like banks and schemes to working with other tech players in the ecosystem on product integration and commercial and marketing opportunities.

We explored various partnership models, tested out pitches, were quick to pivot when things didn’t work out, and I recall making many, many cold calls. It was an incredibly rewarding first year for me – we secured our partnership with two global banks, launched our first Cards product with Visa, and hosted our first partnerships event with Shopify in Shenzhen, which attracted over 800 attendees.

At the start of 2020, I was promoted to Director of Financial Partnerships and refocused on building a dedicated team to manage our growing network of financial institution partners.

Also Read: Keep learning and building relationships during funding winter: Richard Yan of Airwallex

By the end of 2022, I became the Head of Financial Partnerships for APAC, working closely with our Product and Leadership teams to set out our mid-to-long-term roadmap and strategic direction for the company. As a part of the regional leadership team, I also support the growth and operations of our Singapore office.

Growing from strength to strength with Airwallex

It has been exactly four years since I joined Airwallex, and I am now the longest-serving employee in Singapore. During this time, I saw us grow from a newly minted unicorn to being valued at US$5.5 billion today.

My employee ID is number 200, and today, we have over 1,300 employees globally across 19 locations. We moved from a co-working space where we started to our first office on Market Street and, more recently, to our new home at Guoco Tower.

I have also grown personally from someone with little knowledge or experience in the fintech space to being entrusted to build and lead an amazing regional team to grow our financial service offerings for our global customer base. Our team manages some of the most critical partnerships underpinning Airwallex’s global payments infrastructure.

Countless accomplishments so far, with many more to come

Going into my fifth year at Airwallex, I always get asked the same question – why have I stayed as long as I have? Airwallex has given me the opportunity to learn and grow and to help others do the same.

I am still amazed by what we have accomplished together as a team, with people from such diverse backgrounds coming together to work towards the same goal. The learning never stops, and we continue to inspire each other to make a meaningful impact in our work.

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 groupFB community, or like the e27 Facebook page

Image credit: Airwallex

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Singapore VC SWC Global leads US$7.5M Series A round of finance CRM startup Growfin

(L-R) Growfin C-Founders Aravind Gopalan and Raja Jayaraman

Singapore-based VC firm SWC Global has led the US$7.5 million Series A funding round of India- and US-based finance CRM solutions startup Growfin.

Existing investors 3one4 Capital and angels, including CFOs and other industry leaders, also joined.

Growfin will invest the money in its tech stack and product range in 2023. It will also expand its offering from a finance CRM to an all-in-one integrated cash solution. This will enable B2B enterprises to streamline and manage cash flow to enhance their product’s predictive AI capabilities.

Modern CFOs struggle to get to grips with visibility and predictability in their cash collection cycle from customers, many of whom still rely on spreadsheets to solve this problem. Growfin’s SaaS fintech platform solves these challenges for finance and revenue teams.

With its automation, collaboration tools, and real-time collection tracking capabilities, it helps finance, sales, and customer success teams connect in one place to handle customer relationships during the payment process and improve efficiency in collecting payments

Since its public launch last year, Growfin claims to have grown its customer base 8x and processed over US$1 billion in accounts receivables.

Notable customers include Intercom, Fourkites, Mindtickle, Darwinbox, and Quick Dry Restoration.

Aravind Gopalan, Co-founder and CEO at Growfin, said, “Despite the growth of ERPs and CRMs such as Salesforce and Netsuite, I’ve understood that 90 per cent of finance teams still manage their AR processes outside these tools, typically on spreadsheets or in-house databases. We are building a purpose-built tool for managing AR by integrating with the ERPs and CRMs, replacing all these spreadsheets and botched systems.”

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

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#She27: Celebrating 27 women shaping the future of tech

In celebration of International Women’s Day, e27 shines a spotlight on 27 inspiring women in the tech industry who are breaking barriers, pushing boundaries, and making a significant impact in their respective fields while shedding light on the importance of gender diversity and inclusivity in the workplace.

Despite the significant strides towards gender equality, women are still underrepresented in the tech industry. #She27 aims to amplify women’s voices in tech, highlight their achievements and inspire the next generation of female leaders.

From partners to contributors to pro members, these 27 allies of e27 are breaking social and economic barriers while adding immense value to the tech community and beyond. We are grateful for their contributions and excited to see how they will continue to drive innovation and change.

International Women’s Day is an essential reminder of our progress and the work that still needs to be done to achieve gender equality in the tech and startup industry. Join us in celebrating the accomplishments of women who are paving the way for future generations and commit to creating a more diverse and inclusive workplace where everyone can thrive.

(The comments are arranged in the alphabetical order of the names of the respondents).

Acacia Leroy, Head of Trends at Culture Group

As a writer, speaker, and consultant on Asian consumer trends and Innovation, Acacia Leroy has worked on insights projects that help clients — from Fortune 500 CEOs to independent filmmakers — better understand Asian consumers and launch insight-driven innovations.

Alexis Chan, CEO & Commercial Director at Hire Digital

Alexis Chan leads Client Services at Hire Digital, providing a network of the best talent in digital marketing, web development and design. She advises a portfolio of Fortune 500 companies, and she was previously a Forbes 30 Under 30 alumnus in Media, Marketing and Advertising.

“Company leaders must first acknowledge that they must proactively create new opportunities for women. Investing in DEI programmes, whether it’s modifying your recruitment strategies, or conducting training and employee empowerment programmes, can go a long way to building awareness within the organisation. Companies can also cultivate a network to provide more access for female leaders, provide mentorship, and recognise the achievements of rising female leaders.”

Amanda Murphy, Head of Commercial Banking (South & SEA) at HSBC

Amanda Murphy leads HSBC’s business across Asia to help businesses – from startups and SMEs to large international companies – grow by meeting and supporting their financial needs.

“The fact is companies with more diverse workforces are more successful. Greater team diversity drives better discussions and decisions, allowing companies like ours to strengthen the solutions and insights we deliver to our clients.

With women making up 52 per cent of HSBC’s global workforce, building a culture of inclusion and equity where everyone can reach their full potential is vital. At HSBC, this includes better policies and processes for fairer hiring and promotion and mentorship and sponsorship programmes to increase women’s representation across the pipeline. We also offer flexible ways of working where possible and extend our efforts to open up more opportunities for the customers and communities we serve.

From challenge comes change. This International Women’s Day and every day, we’re committed to taking action to shape workplaces in which we can all thrive.”

Angela Poe Noronha, Director of Growth (Asia) at SecondMuse

Angela Poe Noronha is the Director of Growth at SecondMuse. She works with funders and programme teams in Asia to scale the adoption of circular business models, inclusive economic development, and climate innovation financing.

Noronha has spent the last nine years working with impact-driven startups and has accelerated climate transitions through corporate-startup collaborations and innovation programs in partnership with MNCs, startups, and state actors for the shipping, logistics, and plastic-heavy industries.

Bee Kheng Tay, President (SEA) at Cisco Systems

Bee Kheng Tay is the President of Cisco Systems in Southeast Asia and is responsible for driving the networking products giant’s profitable growth. She also leads its go-to-market operations across the ten countries in the region. Tay is passionate about encouraging women to pursue a career in STEM.

“Women need to be given equal opportunities as their male counterparts when it comes to succeeding in male-dominated industries. More needs to be done to encourage more females to join and stay in the STEM industry. Changing the equation for diversity starts with equity and inclusion.

At Cisco, it starts with our hiring process. We adopt a skills-based approach to hiring and career progression, from expanding the diversity within our interview panels to creating frameworks for people leaders to hire and promote people into leadership roles based on their abilities. This is where skills-to-job programmes such as Cisco Networking Academy, which provides networking, cybersecurity, and digital literacy education, come in to bridge the skills gap.

The power of mentorship, sponsorship and advocacy cannot be overstated when it comes to promoting diversity and inclusion. Cisco provides mentorship and networking opportunities through programmes such as ‘The Multiplier Effect’, where leaders sponsor at least one diverse person in their organisation and challenge their peers to do the same to stay proximate to people who are different from them. Our ‘Proximity initiative’ supports female leadership and talent development. To cultivate an inclusive environment, we have Employee Resource Organisations (EROs) such as Women of Cisco or Back to Business at Cisco that has become platforms where women and people from diverse backgrounds connect and support each other.

Finally, real change comes with inclusive policies that consistently reflect on the progress and renew its commitment to gender diversity. Cisco has long created policies and practices for fair, competitive, and performance-driven pay and regularly tests for pay parity based on gender and ethnicity. Hybrid work has been in our DNA long before the pandemic because we believe that the flexibility and trust engrained in that mode of work enables employees to juggle multiple responsibilities both at and outside work as a leader, parent, friend, and partner.”

Bernadetta Septarini, Content & Social Media Marketer at ArmourZero

Bernadetta Septarini is the Content and Social Media Marketer at ArmourZero, a B2B SaaS company. She loves creating creative and analytical content while gaining cybersecurity experience and always looks for new ways to grow and improve!

“As a woman in the tech industry, creating more opportunities for women to succeed is essential. Fortunately, there are many things we can do to support other women in this industry.

For example, I currently provide mentorship and networking opportunities to those interested in pursuing a career in tech. Additionally, if we’ve already experienced and skilled in our field, we can provide training and development opportunities to help other women succeed in their career journeys.

Moreover, we can encourage work-life balance, especially for working moms, to ensure everyone can thrive in their personal and professional lives. By taking these steps, we can create a more equal and inclusive workplace for all, where women can access the same opportunities and resources as their male counterparts.”

Frances Barsana, Business Manager at Kickstart Ventures

Frances Barsana drives innovation through partnerships between best-in-class tech companies and business leaders in Globe, Ayala, Singtel, multiple industries, industry associations, and communities in their digital transformation.

Geraldine Pang, Founder at Creative For More

Geraldine Pang is an entrepreneur with a demonstrated history of working in the marketing and advertising industry. She is passionate about tech and digital marketing and has worked with brands like Popeyes, Maplestory SEA, Baskin Robbins, California Raisins, and TCC in Singapore. Pang’s passion also extends to mental health and well-being, which led her to combine both hobbies to co-found On Good Ground, a yoga and barre studio in the East of Singapore.

“Education is key. Through education, women can improve their way of thinking, working, living, and generating new ideas. This will enable them to operate successfully in a variety of industries.

Companies should also implement policies to create a supportive learning environment for women. The goal is to create a space where everyone can participate and their voices are heard and respected. This will help reduce the gender inequality rate and create a secure, resilient community where both men and women will have the chance to reach their fullest potential.”

Jacqueline Jayne, Security Awareness Advocate at KnowBe4

With 20 years of experience, Jacqueline Jayne is a master communicator. She works in the cyberthreat landscape and helps engage people and technology across all verticals.

“The one thing I hope for on this year’s IWD is more open and honest conversations with everyone. Embrace equity and understand the differences between equity and equality.

Every International Women’s Day is a day for us all to reflect on what present and future we want for our girls and women (and yes, for those who identify as women). With a focus on #EmbraceEquity for 2023, we can all think differently regarding career pathways into technology. Equity in the digital age recognises that each person comes with different circumstances. It’s up to us to ensure that our education system is innovating to give all girls and women the same resources and opportunities to reach an equal outcome.”

Jessica Tan, Chief Marketing Officer at Accredify

Jessica Tan is responsible for the strategic development and management of Accredify’s Marketing and Communications departments. Her responsibilities include building product awareness, customer education and engagement, and brand management through omnichannel marketing that spans digital, social, and traditional media. Tan also leads public relations at Accredify.

“Suppose a firm operates in a way that allows gender to hinder a candidate’s ability to contribute to her fullest potential. In that case, it will systematically fail to capture the value of what a large proportion of available talent, that is, women, can offer the business.

Here are some structural, process, and communications improvements that can level the playing field for women.

Structurally, gender representation at the management level is an area where firms can spend more time developing. In addition, HR can also review maternal and paternal leave policies to ensure women are not penalised for rising to the challenge of meeting both professional and familial responsibilities.

The hiring and performance review processes should be revised to be gender-neutral, focusing only on quantitative assessments to measure an individual’s skills and qualitative interviews to understand a candidate’s work ethic. Other elements can involve hiring managers administering technical assessments in the interview or promotion process without knowing the candidate’s gender.

Internal communications also play a prominent role in workplace education on gender equality by constantly challenging preconceived notions about gender roles in the workplace and bringing to light prejudices that insidiously find their way into our minds,
However, most importantly, the first step to creating more opportunities for women to flourish in the workplace is to remove any ideas of misogyny and the outdated perspective that the tech industry is the realm of men.

This has to be instilled in the firm by upper management and HR by upholding a corporate culture that champions gender equality.
For all the women looking to enter or grow their careers in the tech industry, self-confidence and adapting your skillset to meet the requirements of your desired role are essential. Believe in yourself and leverage your strengths – the key to success in any role.”

Jolene Lum, Client Development Manager at Nurasa

Jolene Lum is the Client Development Manager at Nurasa, a wholly-owned subsidiary of Temasek. She has worked enthusiastically in the sustainable food industry for most of her career.

“Opportunities for women to succeed are not granted. First, I believe women need to uplift other women and continue opening doors for each other to encourage highlighting the skillsets brought to the table by worthy, capable women coupled with the reminder to show up when these opportunities arise. While women generally are less ready to accept opportunities that seem like a stretch, showing up and stepping up is the first step to excelling.

Next, to continue working on being sensitive and aware when building up teams of men and women and to place people first. Leadership often arises from influence without authority by asking ourselves what my team needs me to do in terms of my role and what kind of person they need me to be to support a good and impactful working environment. Often, a better manager empowers and gives space to others to grow, not just someone who does their job function well.

Finally, delivering good work has been something women have been doing for centuries. There is now an opportunity to continue building a personal brand and voice to amplify learnings and reflections and to nurture fellow women to step up and be recognised for their capabilities and potential. Stepping forward is crucial to creating communities of women and men to connect on other platforms outside of work and creating the space for opportunities and exchanging ideas.”

Kathy Sheehy, Co-Founder & Chief Creative Officer at KittyKat

Kathy Sheehy co-founded KittyKat, a tech-enabled content service for brands that deliver only beautiful, on-brand, high-performing products, services and experience visuals they need to grow their business. Sheehy is passionate about entrepreneurship and believes visuals, print or digital, help drive sales and brand equity.

“Women with access to mentors and role models are more likely to succeed. Research has shown that women can benefit from being part of a supportive community of peers, mentors, and role models. This can provide a sense of belonging, support, and encouragement, which can be especially important in male-dominated industries where women may feel isolated or unsupported.

Create flexible work arrangements. Women are more likely to have caregiving responsibilities and may benefit from flexible work arrangements such as remote work or flexible schedules.”

Kim Sommer, Co-Founder and CEO at TripZeeker

Before co-founding TripZeeker, an online marketplace that allows Filipinos and foreigners to shop for possible travel destinations, Kim Sommer worked in the corporate world for about five years as a stockbroker. Having always dreamt of being an entrepreneur, Sommer found her calling in the startup industry after quitting her corporate job to co-found a travel tech startup called TripZeeker.

Lisa Gibbons, Writer, Advisor, Blockchain Advocate

Lisa Gibbons is a passionate storyteller with over 15 years of experience. She writes for numerous publications and is co-founder of the Irish Shebeen, the first Irish Pub in the metaverse. She has a love for all things blockchain, the metaverse and sustainability.

She founded Orchardsnearme.com, a platform dedicated to wild food foraging and sustainable food distribution and is a member of The Writing Studio, a platform dedicated to improving storytelling in Web3. Bridging the world of Web2 to Web3 is where her interest lies.

“Companies that empower women, giving them the roles and flexibility needed to succeed, will see the longer-term benefits of female attributes. To do this, we need to acknowledge the current gender bias within companies and take the path towards a more inclusive culture.

Firstly, give women with varied levels of experience a seat at the decision-making table. Then listen carefully to their ideas for the organisation and their concerns when it comes to their progression. Breaking down barriers to progression will lead to more opportunities for women, and this visibility in terms of female leadership will encourage others to follow.”

Lyn Sia Rosmarin, Country Manager at Prizm Group Singapore

Lyn Sia Rosmarin leads Prizm Group Singapore, an award-winning digital marketing agency. She has received the “Great Women of the Year Award” by FEMALE in Singapore and was named “40 under 40” by PRESTIGE. She straddles some worlds, which makes her a hybrid management executive in today’s business world. As a business owner, Rosmarin is passionate about supporting other business owners in achieving cross-border sales and growing their brands.

“Having worked in investment banking for more than 10yrs, I had to be creative to be included in some “strictly men” events, like wine events, cigar nights etc. One tip I have learnt, if I don’t ask, I don’t get. So, I self- invite myself to those events, be it luxury watches, cigars, wine, whisky, or golf; I learnt enough to join those conversations.

When you want to play level playing fields, there’s no handicap to this, unfortunately. I suggest having loads of research every time we take on a job and having a support group of peers and fellowship that would better our knowledge to perform better in our scopes of work. Read smart, work smart, act smarter.”

Meg Amat, Head of NFT Curation at the Philippine Digital Asset Exchange

Meg Amat began her career as a financial engineering and risk management developer, working at Unisys and SAS to build regulatory compliance solutions for the Philippines’ top banks.

Amat recently rejoined the fintech industry as the Head of NFT Curation at the Philippine Digital Asset Exchange (PDAX). She leverages the fusion of her tech-based left-brain thinking with her art/design exposure-induced right-brain aesthetics to create beautiful businesses. Like a fish in the water, she is pushing the boundaries of Web3, the metaverse, and blockchain applications in Southeast Asia.

“It all starts with a shift in mindset that unique perspectives will always make better products and services. And that these better offerings have a massive impact on the bottom line.

With this, organisations should be motivated to surface diverse thinking and nourish their sources. We need to create spaces where women are open to speaking their minds freely and where the business value generated from their opinions is attributed and incentivised accordingly. I’d even go as far as building out a sandbox program where these unorthodox ideas can be tested, and the application within the business is increased as seen as appropriate.

There’s nothing more empowering than seeing something that starts as a feeling, builds up into an idea, and then is concretised into executions that transform an entire organisation.

Creating a diversity, equity, and inclusion culture takes a lot of work; it doesn’t happen magically overnight. However, I’m confident that if male-dominated industries wish to innovate, they will do well by giving women a seat at the table.”

Michelle Ng, Head of Environmental, Social & Governance at Quest Ventures

Michelle Ng is Head of Environmental, Social & Governance at Quest Ventures, a top venture capital firm in Asia. She works closely with startups to accelerate their growth through a combination of incubation services and programmes. She is also responsible for key markets in Southeast Asia and emerging Asia.

“Women could share their perspectives on areas which could be a blind spot for counterparts of another gender. Adding diversity to the conversation would allow new opportunities and outsized returns to be discovered.”

Nancy Lai, Founder at A Mighty Venture Pte Ltd

Nancy Lai is an educator with a few local IHLs, and a proud mummy to two highly energetic kids who are her inspiration behind the launch of her two brands, Playand and A Mighty Mum. She is an Industrial Designer by training, with a keen interest in using design to solve problems close to her heart. As an undergraduate at NUS, she started her own startup, which raised seed funding of US$112,000 while working for various SMEs before joining the education sector.

“As a woman and entrepreneur, it has been challenging to navigate this entrepreneurship journey, which is still largely dominated by male entrepreneurs.

However, I realised that instead of creating opportunities externally for women to succeed, the opportunities and potential lie within every woman to overcome the internal devil’s voice: The Imposter Syndrome. On the surface, despite being a mother of two young children and an educator, I was portrayed as confident and brave for starting this entrepreneurship journey. However, deep within, I was often plagued with Imposter Syndrome, often fearful about making decisions and nervous when negotiating in a room full of males.

With encouragement from my husband and other business mentors whom I used as a sounding board for my ideas, I began to realise that all my fears are unfounded and I am equally capable of excelling in whatever I do at my own pace and time. It takes practice to shut the inner voice of “I can never do this” to hear “What’s the worst that can happen?” but I am still learning, and it all starts with allowing me to do so within myself.”

Pooja Sanan, Head Enterprise Sales, South East Asia at PayPal

Pooja Sanan is a seasoned professional with over 20 years of experience in payments and e-commerce. She is a highly experienced leader who creates strategic alliances across the business to effectively align with and support key business initiatives.

“Diversity and inclusion have been powerful catalysts to drive financial empowerment for women globally. At PayPal, we are committed to driving innovation by building a diverse workforce and fostering an inclusive culture where women have equal opportunities to excel. Only through collective and intentional steps can we become true change agents, driving equity towards a better future for all.”

Rachel Lau, Co-Founder and Managing Partner at RHL Ventures

Rachel Lau is Managing Partner at RHL Ventures. RHL Ventures is a Southeast Asian-based private investment firm focusing on growth capital investments in Southeast Asia. Lau was on the list of 50 People Redefining the Way We Live by Business Times Singapore and was selected as Milken Institute Young Leaders Circle and Asia 21 Young Leaders.d the US region.

“We need to be open-minded about women in investing, tech, and the workforce. Many issues don’t come from industry but rather from the people in it. Expectations of a woman are always more demanding- women get told they need to talk, walk, and act a certain way, and women get told that there are timelines. I say do whatever your heart desires. Break the barriers, smash the glass ceilings, and be who you want to be!”

Sara Faatz, Director of Technology Community Relations at Progress

Sara Faatz is the Director of Technology Community Relations at Progress. She has spent most of her career in the developer space, building community, producing events, creating marketing programs and more.

With over 20 years of experience leading corporate and product marketing and community building for organisations that primarily target the developer audience, Faatz has a proven track record of conceptualising and orchestrating campaigns that evolve the brand and positively impact the company’s image and revenue.

Over the years, she has run marketing departments (both large and small), built community programmes from the ground up, created partner programmes, and acted as a brand ambassador and spokesperson for various organisations.

Sharina Khan, Lead Consultant and Experience Designer at Thoughtworks

Sharina Khan is the Lead Consultant and Experience Designer at Thoughtworks, with six years of experience in this domain and over ten years in Product Design and Development as a practitioner and educator.

She is actively involved in the Design Community, conducting design, business and innovation workshops, classes and events with a focus on educating and sharing design methodologies to better engage designers and non-designers in co-creation activities. Khan continually updates her skills with industry-specific tools in a technology-driven, experience-based economy.

“I feel fortunate to work for a tech company that places a high value on diversity and provides a supportive environment for women to advance in their careers. It’s especially inspiring to see a considerable number of women holding leadership positions within the company, as this has created a valuable network of support for mentoring and guidance in a field that is largely male-dominated.

Our efforts to support each other have not only helped us develop our skills and increase our confidence, but it has also enabled us to gain greater visibility within the organization and strive for even greater achievements. Through our willingness to take on new challenges and step outside our comfort zones, we can continue to raise the bar and make significant strides in our careers. While we are our own toughest opponents, with determination and support, we can overcome any obstacle that comes our way.”

Sheryl Chen, Marketing and Content Manager at Qualgro Venture Capital

As the Marketing and Content Manager, Sheryl Chen leads marketing, content strategy, partnerships, and community programmes at Qualgro Venture Capital. Previously, she was a Programme Manager at Google Cloud for Startups, covering events, programmes and partnerships across JAPAC.

Surbhi Agarwal, Senior VP and Head of Marketing at Yellow AI

Surbhi Agarwal is a seasoned technology leader with over 20 years of experience in startups and large enterprises such as McAfee, Intel and Google. She managed over US$1B of Cloud Data and an AI product portfolio at Google.

She currently heads the marketing division of Yellow.ai. She has built a high-performing global organisation to lead all critical go-to-market functions, such as product marketing, demand generation, content strategy, revenue operations, brand, SEO, website, AR, and PR.

Agarwal has an MBA from UC Berkeley and is an Electrical Engineer recognised in the Women in Tech and Women in AI communities for the business impact made in technology. She is a DEI (diversity, equity, and inclusion) Advocate and a Girls Who Code programme sponsor.

“It is crucial to shatter the glass ceiling that women face at the workplace to create more opportunities for them to succeed in male-dominated industries like technology. This requires a multi-faceted approach.

Firstly, we must acknowledge and challenge traditional stereotypes and unconscious biases limiting women’s access to these industries. This can be achieved by raising awareness around such unconscious biases and their impact, highlighting women’s achievements in the field, promoting allyship, and providing them with mentorship and networking opportunities.

Secondly, companies should establish clear diversity and inclusion policies prioritising hiring and promoting women in leadership positions.

Thirdly, it is crucial to address the one fundamental root cause of the glass ceiling: the underrepresentation of women in STEM fields. This can be done by investing in education and training programs that specifically target girls and women. Providing them access to the latest technology and tools will also help bridge the gender gap in technology. By creating a more inclusive and welcoming environment in STEM education and workplaces, we can achieve a more equitable future for women.

Individually, my advice to women is to have a point of view and never be afraid to express it. Your point of view is important because it can make a big difference for other women and diverse communities. I encourage women in leadership positions today to make room for other women and find and coach them.

For young beginners in the industry, find time to meet with other women leaders you admire and find like-minded queen bees within and outside your organisation who can help you on your career journey. Ultimately, it all comes down to working for and with one another.”

Yap Zhi Xin, BD Professional in FX and Alternative Investments

Yap Zhi Xin is a Business Development and Investor Relations professional in alternative investments. She is helping investors of all classes build wealth through FX strategies in a global currency fund.

Yuhwen Foong, Founder at SushiVid

Fairly independent and ambitious, Yuhwen Foong runs a startup in Malaysia called SushiVid that provides influencers to brands for campaigns. SushiVid has produced over 11000 branded content for brands across Southeast Asia for over 1500 brands.

Zelia Leong, Co-Founder at PraisePal

Zelia Leong is the Co-Founder of PraisePal. With a decade of experience in the tech industry, Leong also leads the team at PraisePal to help more companies align their culture and boost employee engagement across their global teams. Her human resources and organisational design background contributes to the PraisePal solution of creating a long-term, scalable culture of recognition for organisations.

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

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Not a pipeline problem: Pocket Sun of SoGal Ventures warns against ‘purple-washing’ startup investment

Pocket Sun, Co-Founder & Managing Partner, SoGal Ventures

Pocket Sun, Co-Founder & Managing Partner at SoGal Ventures, was away from Southeast Asia for a while. But upon visiting Singapore recently, she noticed that there was some progress for women in the regional tech startup ecosystem. However, some challenges remain.

“A lot of people feel that it’s a pipeline problem. I think we’ve seen in other parts of the world that it really is not. It might take some time, but it’s really about putting intentional efforts into supporting different demographics,” she explained to e27.

“If you want more deals from women founders, then you need to look specifically [into that segment]. You can’t expect women to trust you automatically and just show up for you.”

She also noticed how, unfortunately, vocal sexism remains rampant in the regional startup ecosystem. She had been at events where someone would make loud, misogynistic comments about women entrepreneurs being less stable than their men counterparts. Certainly, this kind of behaviour drives women founders away from potential investors.

“You lose opportunities to women-led companies when you say sh*t like that. Sometimes it’s not a pipeline problem. It’s your problem,” she stressed.

The startup investor also insisted on the importance for investors to take action, instead of just presenting the image of being a women-friendly company–a practice commonly known as “purple-washing.”

“Besides investing, there have been efforts to set up a separate programme for women. It definitely helps to build your reputation, but nothing comes as strongly as when you actually deploy capital into women entrepreneurs.”

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

Nikkei Asia Review wrote in December 2022 that in addition to raising less funding, women founders also raise it at lower valuations. So how can we move forward and build a more inclusive startup ecosystem? What role do investors play in this?

The following is an edited excerpt of the interview with Sun.

How can we mainstream this gender issue, instead of treating it as something we do on the side as a charity?

One obvious answer is that we need more women-led success stories … But I feel like, a lot of the time, their stories are seen as outsiders, as the exception. That most women are not like that.

That concept is so prevalent, [but] having one or two winners with outstanding success doesn’t change the fate of all women entrepreneurs out there.

One time, I was speaking to a group of entrepreneurs and investors. The icebreaker question that they asked was, who is the best woman entrepreneur that you know, that you’re inspired by? The answers are pretty much the same few people. It’s like, I left Singapore for two-and-a-half years now and it’s still the same names that I have known from when I was here. So, I feel like people hang on to a few names because they feel like it’s good enough. They don’t put more effort into proactively discovering more amazing women entrepreneurs.

Can you share more about your investment philosophy and how you are doing it differently?

There are three ways to define it. One, we like [to reach out to] what we call undervalued founders, which includes women and other minority groups such as LGBTQ+ people, immigrants, and veterans. People that are not the ‘mainstream’ entrepreneurs.

We also look at undercapitalised geographies. Even in the US, we don’t invest in Silicon Valley. We invest in these tier-two, -three cities where there’s not enough venture capital yet.

Also Read: Women as focus of impact investment: Does it bring more harm than good?

The third one is underserved problems. We like companies that are not chasing after heights. Right now, we’re not even looking at generative AI companies. In the past eight years, we’ve gone through so many different waves of different tech trends, from drones to machine learning to Web3 … We almost intentionally avoided those really heated trends at the time. Because, a lot of the time, all these buzzwords just create so many opportunistic companies that rarely create value.

Instead, we look for companies that are creating long-term value, that are creating solutions for big problems.

No matter what is hot at the moment, you always see companies that are just quietly growing and gaining traction … that’s because they focused on the right things from the beginning, and it’s not about chasing trends.

We want companies that could truly make a difference in young people’s lives. We want companies that are category creators and category leaders. Not just a me-too company.

What role does an investor play in ensuring gender equality in the startup ecosystem?

Investors play a huge role, whether they know it or not. Because, as an investor, you are controlling more capital than the average people combined. Right? You have the privilege of directing money in a way that is to your liking.

Collectively, we kind of dictate the future of technology and innovation, the most used applications in our daily lives. So each decision we make is like voting for the future. That’s an immense responsibility we are taking on here.

When we started SoGal, we thought about three things. One, who are we going to invest in? Are they the same type of people that everyone else would fund?

Two, who gets to make these investment decisions? Because, previously, people like me, people like my co-founder, we are not the ones that get to make investment decisions when we started the fund. No one even thought we had the qualifications or credibility to do so. But we’ve been able to prove that we could make damn good investment decisions, that our portfolios are badass and returning top-of-industry type of performance.

Also Read: This year, International Women’s Day calls for the tech startup ecosystem to look within

The third thing is, who gets to make money with us? Previously, all the funds are funded either by a royal family or the largest families in Thailand, Indonesia, Vietnam and Singapore.

Wealth is being redistributed back to the same people. That is something we wanted to change as well. And I think it’s something that we, as investors, need to be very cautious about. So we’ve thought long and hard about who we would want to make money for. I think the answer is that we want to make money for people who would genuinely care about the startups and the problems our startups are solving.

The recent global situation, does it affect the way investors are investing in women-led companies?

Yes. To us, this validates our thesis because in the past year … we’ve had 20 new financing rounds for our portfolio companies. Many of them were up rounds. Some were flat rounds but there are almost no down rounds. I don’t know if many of my peers could say the same thing.

That shows a lot about price sensitivity and investment discipline. We don’t really like trying to squeeze our heads into the super-hot companies with super-inflated valuations that everyone was trying to get in.

Our entry point was at the right prices. We were able to really support our companies to be very rigid with their cash management, to be realistic with the goals they’re setting, and to make sure that they could be capitalised properly.

The fact that women and diverse entrepreneurs have a really hard time raising money, forces them to be more capital efficient.

They know what it’s like when things are tough because things have always been tough for them. To many of them, this is just another challenge.

We have two unicorns in our portfolio companies and one more that’s going public in the next two to three years in the US. These companies have killer products, are loved by customers, and are successfully branching out to different channels, markets, and product suites.

Also Read: Uplifting the underserved and women in fintech: Retail technology on the frontier of equality

So, what is coming up this year for SoGal Ventures?

We are going to raise the rest of our funds, too. We launched a second fund last year which enabled us to lead investments in the pre-seed and seed stages. We have started deploying them already and we are raising the rest of the funds this year. We’re also making five to eight new investments out of the funds this year. We will also continue to build out our team a little more.

We also have a documentary coming out about women entrepreneurs and investors.

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

Image Credit: SoGal Ventures

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Are brands ready for the future of loyalty?

Forced to adjust to socio-economic circumstances beyond their control and armed with technology that gives them more access to expertise than ever, consumers today are developing a stronger sense of self-reliance.

Accenture’s research shows that nearly three-quarters of consumers in the Asia Pacific feel empowered to make key decisions in their own lives. They are more self-assured in setting priorities and feel a greater responsibility to make decisions that benefit themselves, their families and society. They are also rethinking the values that drive them and reimagining their life purpose.

Above all else, self-empowerment is on the rise. Consumers are now ready to act in their own best interests. In fact, more than half say that company and brand names are not as important to them as they used to be, and what they look for in a product or brand is likely to change depending on circumstances. The question for companies is: are you ready for this shift?

Active participation and a sense of belonging

Technology now provides a channel for consumers to take control of their belonging and decisions. For example, artificial intelligence is breaking new ground and helping people harness their innate creativity. Anyone can create reasonable-quality language, image and video content with seemingly little effort or learned skill.

Also Read: The future of Web3 communities: What’s next after the NFT community craze?

Through technology, consumers can now participate and shape the future of the brands they love. In recent years, people have been seeking new places online where they can feel a greater sense of belonging and control. With reimagined values and purpose, they are focusing on hobbies and activities that give them meaning and have started seeking out digital groups where they could explore their interests.

Three threads are converging:

  • Online communities of interests and belonging: Globally, Reddit, Discord and Twitch have made it easy to find kinship among people who will actively listen, engage in, and talk about niche topics. There’s a digital channel for everything, from activist causes to coffee, skincare and home renovation. In the Asia Pacific, at least 65 per cent participate in online communities, with food, drink & cooking, health & wellness and travel communities being the top three types. These communities exist at macro and micro levels, global and local, offline and online, creating places where people feel they belong.
  • Token-gating of exclusive content or access: Tokenised access and content have allowed brands to experiment with new ways to monetise branded digital assets and reimagine the experience for superfans into one where two-way loyalty is at the core. India’s cloud-based platform, miniOrange, offers non-fungible token (NFT)-based gated content where users benefit from restricted content through their cryptocurrency wallet. GameFi, or blockchain gaming, allows users to game and earn cryptocurrency rewards, allowing people to monetise their gaming skills and turn hobbies into professions.
  • Digital collectibles: The progression of digital communities is prompting brands to develop new goods and experiences for customers. Communities are forming around digital collectibles, which include art, trading cards and brand catalogues. Colexion, a digital collectibles marketplace in Asia, has launched a premium NFT marketplace in the sports, entertainment, art and lifestyle industries. The platform has collaborated with international celebrities from these industries to sell highly valued souvenirs, from ticket stubs to autographs and more. 8SIAN, an Asia Web3 brand recently collaborated with Vogue Singapore to launch a giftable Love Chain NFT set that provides exclusive access to activities and games in Vogue Singapore’s metaverse spaces.

Ultimately, the opportunity for companies here lies in exploring new places to foster a deeper connection and relevance with people, as their passions, hobbies, and interests tip beyond loyalty into active community participation.

Harnessing the power of belonging

While online communities populated by people who articulate or perhaps unwittingly surface an unmet need will lead to more brands creating products specifically because of online communities, brands must engage their communities or build a new one to grow a customer base. Crucially, the community will lead brands to understand what their consumers — multi-dimensional beings who are complex and constantly evolving — are interested in.

Also Read: How to launch collaborations that grow communities: A guide for Web3 founders

Brands like Doodles are already proving the business model. The Doodles NFT project is a profile picture collection from artists that portray different cartoon characters with joyful pastel colour combinations. It launched in the middle of an NFT frenzy but instead of going big right out of the gate, it built a dedicated, tight community of fans who were financially and emotionally invested in the brand — a rare combination in a space known for speculative investment and making a quick buck. As Doodles has grown, so has participation, with customers taking a proactive role in shaping its future.

Even long-established online communities are branching out in several directions in search of new revenue lines. Reddit, for example, has launched an NFT-based marketplace where people can buy blockchain profile pictures for a fixed rate and released digital collectible avatars on its website and mobile app. This is compelling evidence that community-based engagement is tipping into the mainstream.

These Web3 developments will give brands more direct contact with and influence over their community. Brands must be prepared to make decisions around the dynamic of the new relationship. Will participants be treated as customers or as part of the brand? They must not just prioritise those who will generate profit. The customer relationship must be shaped in a sustainable and organic way that enhances the power of communities and allows them to contribute to bottom-up innovation.

Belonging to a community is a feeling people value, and technology is now enabling a new way to nurture communities where people can connect and build something meaningful. It doesn’t replace in-person connection — it’s simply another route.

Ultimately, customers have one powerful message for companies. “My life is changing faster than ever. How will you stay relevant?” Technology is not the most interesting thing here for the customer. Web3-enabled communities and tokens are just vehicles— customers will buy a benefit that they have deemed relevant to stay in their unpredictable lives.

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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Founder’s 3 year journey: Ground up to Tiger Global-backed multimillion-dollar startup

Growing up, I’ve always thought of myself as a risk-averse person – a stickler for rules. But looking back at my three years in Hong Kong, it seems like a whole different story. 

My first startup right out of university was challenging with the long hours and little pay. Not to mention the added stress of having close to zero experience and learning everything from scratch. 

But as they say, every end is also a new beginning. The day I left the company I started was also the day I bought an air ticket to Hong Kong for a job interview with a company that barely showed up on Google – and that, ladies and gentlemen, was the start of something new.

An unexpected detour that took me from Singapore to Hong Kong

In 2018, I graduated from Singapore Management University’s business school and stumbled into founding a startup with an acquaintance. We were both first-time founders and finding our way in life – a.k.a. adulting.

We had some initial successes, and as cheesy as it seems, we complemented each other like yin and yang – I was the prim and proper university graduate, while my Co-Founder was the street hustler that got things done. 

But as time went on, our differences started to fuel disagreements, and before I knew it, I was burning out.

So in December 2019, while browsing tickets for a three-month sabbatical to Taiwan, I explored and applied for some freelance opportunities to keep the trip financially viable. Within 30 minutes, I received a response from Henson Tsai, the Founder of a Hong Kong-based B2B omni-channel social commerce startup SleekFlow. And he asked if I would be open to an interview next week. In Hong Kong. 

Also Read: How e-commerce brands can tap into the US$600 billion social commerce market potential

While I wasn’t expecting such a quick response, I really empathised with his drive and passion. It reminded me of me when I was working on my startup. Besides, I didn’t mind escaping Singapore’s humid weather. So with my dwindling bank account balance, I “YOLO-ed”, bought my plane ticket and flew over the following week. 

Taking the most expensive cab ride of my life

Upon landing in Hong Kong on Christmas Eve, I received a message from Henson, who asked to push up the interview by two hours. Seeing that it was already noon, I sprinted to grab a cab. 

And as luck would have it, I hopped off the red taxi at SleekFlow’s HQ with a dream and a cardigan (and SG$80 less in my wallet). At this point, I’ve already spent SG$1500 on my plane ticket, hotel, and transportation. And the thing is, up till then, I wasn’t even hired and haven’t even met my prospective boss yet! 

But when I finally did, I got to understand Henson’s vision for SleekFlow better – to be the number one SaaS company in the world. Honestly, I expected such a bold claim to come with a team of a proportionate scale. But at that time, SleekFlow had a grand total of three employees: Henson, the Founder; Peter, the backend developer; Paul, the frontend developer. All three of them were working in a room with just enough space to fit four people with a product that looked like the first iteration of Facebook Messenger.

I didn’t think much about the prospect of hearing back from Henson again and spent the next few days exploring Hong Kong before heading back to Singapore.

To my surprise, a week or so later, Henson offered me the position as the fourth person in SleekFlow. Having wanted to experience working overseas, particularly in Hong Kong, since my younger days as an aspiring filmmaker, I jumped at the opportunity.

We all need to start somewhere

I took a one-way flight to Hong Kong on the 26th of January 2020 with promises to visit family and friends back in Singapore every three months. Little did I know that three months turned into 19 months when COVID-19 hit. 

There was a lot of uncertainty and doubts during that time. It was an understatement to say that the first few months were tough. Apart from dealing with the mask, rice and toilet paper shortage, I also had issues getting a Hong Kong bank account set up and had to constantly transfer money from Singapore.

But things were taking off at work. As the pandemic drove everyone indoors, more businesses understood the importance of WhatsApp to engage and support customers better. 

At SleekFlow, while we initially set our sights on American and European markets that were less affected by COVID-19, we decided to hunker down and focus on Asia as we noticed that people in Asia were starting to shift their day-to-day activities online. 

With that insight, we built tools centred around retail businesses’ needs. Starting as an omnichannel platform that merges popular messaging channels like WhatsApp, Facebook Messenger, Instagram DMs, and Telegram into one, we evolved to offer more holistic services like routing chats, setting automated workflows and customising chatbots fit for a world dealing with social distancing.

As the only non-technical person apart from Henson, everything that did not involve coding or finances was basically mine to tackle. I was writing blogs (in both English & Traditional Chinese!), doing SEO audits, putting out ads, pitching to customers, and even doing customer support at two am – an experience I will fondly remember as it led to a product that has impacted businesses globally.

Almost a month after, we landed our first hospitality customer. And even though our platform was glitchy at the start, the customer stuck with us while we gradually resolved our issues. 

But of course, that version of SleekFlow’s long gone. And as much as I have changed, SleekFlow has undergone a series of upgrades, including a payment solution that allows consumers to buy directly from chat platforms to cater to the rise of social commerce.

The reality of building a startup is that you need to be as adaptable as a Swiss Army knife. My role at SleekFlow changed almost every three months, and in the past year, I was even sent back to Singapore to grow the ASEAN region for three whole months! 

Also Read: How retailers could prepare for the next consumer recession, if it were to come

One night, while in a hotel room in Malaysia, I found myself randomly scrolling through Slack, and I came across our monthly active members’ dashboard: 

 

It really put things into perspective – how we went from a four-person office to 60 people in Hong Kong, closing our US$8 million Series A funding round, launching in Singapore and Malaysia in 2021, followed by the United Kingdom, Brazil and Indonesia in 2022, and growing headcount by 30 times in 2023.

My journey with SleekFlow has brought me some incredible experiences and connections in Hong Kong and beyond. My role has since transformed from taking over performance marketing in 2021 to spearheading the Partnerships team. Since joining in 2020, SleekFlow has now established itself as a comprehensive social commerce ecosystem with over 5,000 users in over 20 countries. 

Conclusion

Takeaway #one: Punch above your weight

Scared? Just do it. Don’t think it’ll work? Just do it. In the early days of joining SleekFlow, an important lesson I learnt is: Don’t short-change yourself. It can be putting out a higher quote, asking customers if they need an upgrade, or even asking for a salary raise. If you’ve thought of it, try acting on it – “realistic” is relative.

Takeaway #two: Be open to changes

In a startup, change is normal and the only way to know what works for us is to test it out. That’s why a shift in mindset is necessary. Do not expect that decisions are set in stone, and always be willing to push things out (even if it’s not perfect), be experimental, and consistently work to improve processes. 

Takeaway #three: When there’s a will, there’s a way

Being the “good” kid growing up, I’ve never really questioned authority or why things need to be done a certain way. But after working in Hong Kong for three years, I have learnt to think out of the box as people will throw curveballs, and there’s always a crafty way to get around it. So, weigh the pros & cons, pay the price and quickly get a grip on what’s happening to thrive.

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