Indonesia’s coffee culture has witnessed the rise of two distinct and beloved coffee chains — Kopi Kenangan and Kopi Janji Jiwa. These brands have captivated the local market with their unique approaches to coffee, each carving its own identity and loyal following.

In this comparative exploration, we delve into the realms of brand philosophy, menu offerings, marketing strategies, and more to understand the essence of these coffee giants.

Crafting identity

Kopi Kenangan: Known for its concept of “affordable luxury,” Kopi Kenangan strives to make premium coffee accessible to all. It exudes modernity and trendiness, offering a plethora of beverages and snacks that cater to diverse tastes.

Kopi Janji Jiwa: In contrast, Kopi Janji Jiwa takes on the role of cultural stewardship, aiming to preserve Indonesia’s coffee heritage. This brand embraces authenticity and traditional brewing methods, creating a genuine connection to the roots of Indonesian coffee culture.

Flavors of the menu

Kopi Kenangan: The menu at Kopi Kenangan spans a wide spectrum, encompassing an array of coffee choices, teas, and non-coffee alternatives. The inclusion of snacks complements the diverse beverage options.

Kopi Janji Jiwa: Focused on tradition, Kopi Janji Jiwa’s menu highlights iconic Indonesian coffee traditions such as Kopi Tubruk and Kopi Tarik. It places a stronger emphasis on maintaining the purity of Indonesian coffee flavours. They are also currently entering into the realm of Tea.

A glimpse of adaptation

Both brands adeptly integrate local flavours and preferences into their offerings. Yet, Kopi Kenangan’s broader menu diversification and innovative twists cater to a broader demographic, capturing the attention of younger generations.

Unveiling the branding

Kopi Kenangan: Leveraging contemporary marketing techniques, Kopi Kenangan shines in its digital presence, often collaborating with influencers and using social media to present itself as a modern, hip choice for coffee enthusiasts.

Kopi Janji Jiwa: Rooted in nostalgia and tradition, Kopi Janji Jiwa’s branding appeals to consumers who cherish the authenticity of Indonesia’s coffee heritage, fostering a deep connection with its loyal patrons.

The canvas of expansion

Kopi Kenangan: Beyond Indonesia, Kopi Kenangan’s wings have expanded to international markets, a testament to its consistent quality and strategic approach.

Kopi Janji Jiwa: While largely local, Kopi Janji Jiwa’s unwavering commitment to preserving Indonesian coffee culture resonates with patrons seeking an unadulterated coffee experience.

Nurturing experiences

Both brands prioritise customer satisfaction, albeit through different approaches. Kopi Kenangan prioritises efficiency, while Kopi Janji Jiwa aims to create a soulful, nostalgic ambiance.

Also Read: From a single brew to unicorn: Kopi Kenangan’s journey of coffee and creativity

Kopi Kenangan and Kopi Janji Jiwa stand as two remarkable entities, contributing to Indonesia’s vibrant coffee scene in distinct ways. The former embodies modernity and variety, attracting a broad audience, while the latter embraces tradition and authenticity, appealing to the sentimental side of consumers. The choice between these two coffee giants ultimately hinges on the individual’s quest for a coffee experience that resonates most deeply with their preferences and values.

For those with an ardent love for coffee and a penchant for exploring new tastes, a journey to Indonesia is incomplete without experiencing the vibrant coffee culture that this country has to offer. Among the gems that adorn this landscape, two prominent coffee chains, Kopi Kenangan and Kopi Janji Jiwa, beckon with their unique coffee tales, ensuring an enthralling coffee journey like no other.

As a fellow coffee aficionado and an avid traveler, these coffee havens have been a cornerstone of my visits to Indonesia. If you’re like me, drawn by the aroma and warmth of a well-brewed cup, these chains will undoubtedly capture your curiosity and invite you to immerse yourself in two distinctive coffee realms that Indonesia has artfully cultivated.

Kopi Kenangan stands as a symbol of accessible luxury, where high-quality coffee meets affordability. Their expansive menu, accompanied by a trendy atmosphere, reflects the modern coffee culture that’s taking the world by storm. Conversely, Kopi Janji Jiwa delves deep into the heart of Indonesian coffee heritage. With a commitment to preserving traditional brewing methods and flavours, it crafts an experience that resonates with those seeking an authentic connection to Indonesia’s rich coffee legacy.

As an enthusiast who’s had the privilege of savouring the offerings of both these coffee titans, I find myself in a delightful predicament — torn between two exceptional coffee journeys, each offering a distinct and unforgettable experience.

So, whether you’re embarking on a coffee pilgrimage or simply seeking to elevate your coffee escapades in Indonesia, rest assured that the allure of Kopi Kenangan and Kopi Janji Jiwa will captivate your senses and reward your curiosity.

In this splendid world of coffee, where flavours tell stories and experiences transcend cups, my humble advice as an ardent admirer of both chains is to savour them both, allowing yourself to be immersed in the symphony of coffee notes that Indonesia has to offer.

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Oneteam, a Singapore-based startup focused on transforming succession at small and medium-sized enterprises (SMEs) through employee ownership, has raised SGD 3.5 million (US$2.6 million) in seed funding.

Wavemaker Ventures, the early-stage fund of Wavemaker Partners, led the round.

Also Read: From admin headache to AI-driven insights: How Earlybird AI empowers SME founders

About 70 per cent of the funding will be used to acquire small businesses, while the remaining funds will be used to build a strong core team and infrastructure to provide shared services for its portfolio. Key business functions such as finance, human resources and talent recruitment, branding and marketing, IT, and legal, which can be expensive for small businesses, will be provided from the company’s headquarters in the island nation.

Oneteam addresses the lack of succession planning in Singapore’s SME sector, where businesses make up over 99 per cent of the country’s enterprises and employ more than 70 per cent of its workforce. As many business owners reach retirement age, they face uncertain futures because they lack an exit strategy and a clear succession plan.

Oneteam’s solution involves acquiring businesses from retiring owners and gradually transitioning them into employee-owned entities. This approach safeguards the businesses’ long-term value and fosters a strong sense of ownership, purpose, and productivity among employees.

Oneteam’s support extends beyond acquisitions. The company provides a holistic support system, including growth capital, leadership development, and access to a network of business partners and digital solutions, to help companies scale efficiently and adopt modern technologies.

Also Read: How are Singapore SMEs taking a proactive stance towards sustainability?

“We believe the future of SMEs lies in the hands of their employees,” said Kevin Boo, CEO and co-founder of Oneteam. “By offering a path to ownership for next generation, hardworking employees, we’re aligning incentives, preserving valuable services for our communities, and ensuring these businesses continue to thrive. In doing so, we’re also contributing to Singapore’s broader goal of elevating our SMEs, the backbone of our economy.”

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Atome Financial, a leading Southeast Asian digital financial services platform owned and operated by Singapore-based Advance Intelligence Group, has secured a syndicated credit facility worth up to US$200 million.

HSBC led this round through its ASEAN Growth Fund. DBS Bank, the Singapore branch of Sumitomo Mitsui Banking Corporation and Brunei’s Baiduri Bank also participated in the facility.

Also Read: Atome secures debt funding from EvolutionX to expand credit portfolio, launch new products

The funding will primarily be used to expand the fintech firm’s existing profitable portfolio and products, with a focus on lending and the Atome (Pay Later Anywhere) Card across critical Southeast Asian markets.

“We look forward to HSBC, and our other partners, continuing to support our capital needs and launch of new and innovative personal finance products in key markets like Singapore, Malaysia and the Philippines,” said Andy Tan, Chief Commercial Officer at Atome Financial.

Launched in December 2019, Atome is a digital platform that provides consumers across the region with flexible deferred payments through its mobile app. It also offers digital consumer loans in Indonesia through the Kredit Pintar mobile app.

The startup claims to have achieved a robust financial performance in recent years; its operating income in FY2023 nearly doubled, reaching US$170 million, compared to US$88 million in the previous year.

It also claims it processed almost US$1.5 billion in gross merchandise volume (GMV) in 2023, reflecting a 40 per cent year-on-year increase. The buy-now-pay-later business achieved profitability, driven by a remarkable 130 per cent surge in revenue.

In the first quarter of 2024, the company achieved EBITDA positivity.

“Through this support, Atome Financial will bring about greater financial inclusion by extending access to affordable and responsible personal finance solutions to more consumers from across Southeast Asia,” said Priya Kini, Head of Commercial Banking at HSBC Singapore.

Previously, Atome Financial secured a three-year term facility of up to US$100 million from EvolutionX Debt Capital and other investors in June 2024. Last year, it announced a US$100 million debt facility with HSBC Singapore to expand its services in the Philippine market and develop new consumer financing products.

Also Read: How BNPL can provide lower-income households with new opportunities

Atome also counts SoftBank Vision Fund 2, Warburg Pincus, Northstar, and EDBI among its backers.

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As major players continue to invest in Malaysia, the nation is fast becoming a key player in the data centre arena, with Johor Bahru in the south of the country already recognised as Southeast Asia’s fastest-growing data centre market. As strongly telegraphed by the Malaysian government, there is no mistaking the ambition to transform Malaysia into a high-tech industrialised nation as part of New Industrial Master Plan 2030 (NIMP 2030).

However, data centres aren’t standalone infrastructures. Seizing this opportunity will require a focused effort on solidifying a bedrock of cybersecurity, cloud and connectivity services, and overall capacity and continuity – areas in which leading players across the private sector technology ecosystem can collaborate to accelerate Malaysia’s agenda.

Cybersecurity is everyone’s responsibility

Cybersecurity is non-negotiable when it comes to Malaysia’s ambitions to become a tech hub in an AI-driven world. According to Orange Cyberdefense data, cybersecurity threats will only increase – its latest Cy-Xplorer report revealed that cyber extortion had impacted 75 per cent of all countries since 2020 and 118 countries in the last year alone. As the threat and risk landscape evolves, data centre hubs must have a cybersecurity strategy, approach, and posture as their primary line of defence.

Similarly, tenants who store their servers and data within the infrastructure are also responsible for implementing their own cybersecurity solutions. In response to the escalating threat of ransomware and cyber extortion, one notable initiative that has gained traction in recent years is the Counter Ransomware Initiative (CRI), a multinational effort aimed at disrupting ransomware operations and dismantling cybercriminal networks.

The CRI brings together governments, law enforcement agencies, cybersecurity experts, and industry partners to coordinate and share information on ransomware threats and trends. The success of such initiatives hinges on nations’ willingness to collaborate and share intelligence and resources in the fight against cybercrime.

Taking inspiration from this, technology leaders in Malaysia have a crucial role in engaging with a synergistic nationwide platform. By collaborating with industry and government, they can swiftly and regularly share information and respond to data breaches, while also implementing proactive measures to protect corporate data, IT networks, and assets.

Strong cybersecurity is essential to Malaysia’s ambition of becoming a high-tech hub, as it safeguards critical infrastructure, economic stability, national security, and consumer trust. In this context, technology players can establish a robust foundation to support the nation’s technological and economic aspirations.

Also Read: Digital health: Malaysia leads in powering ASEAN’s transformation

Cloud and connectivity

Data centres play a central role in providing seamless connectivity and global content access to businesses. This connectivity is a critical enabler of innovation and data exchange across various sectors, driving growth and diversification within the economy. As a result, the stakes are high, and the margin for error is exceedingly thin – as businesses increase their number of communication points, the importance of keeping those communications with rapid connectivity and speed becomes even more critical.

Malaysia must therefore ensure that its connectivity reliability and uptime standards are among the highest, eliminating any possibility of latency. With the right technology and systems in place, the country can stand out as a reliable and efficient hub for technology, attracting greater business investment than its regional competitors.

Capacity and business continuity

Capacity, in the context of data centres, encompasses not just the physical number of racks but also the availability and scalability of power supply to support current and future demand. Water is another critical component as data centres require it to manage infrastructure temperatures of and prevent hardware overheating, necessitating 100 per cent uptime for cooling systems.

While space in Malaysia could be arguably abundant, the requirements for power and water resources to operate new data centres are substantial – hence any of such constraints require consideration and planning for continuity and contingency.

Ensuring operational continuity as a data centre hub hinge on several key factors: providing the host country with infrastructure support for the data centre and for the high-tech sector to ensure superior operating reliability, high-quality service, real-time visibility into operations, rapid communication, and seamless access.

Furthermore, the high-tech sector is governed by strict international standards and regulations regarding uptime, data management, and disaster recovery. Technology players must step forward to support Malaysia in delivering on the capacity and continuity strategy needed to meet these standards.

Delivering on a shared ambition

Malaysia’s data centre expansion can help to spearhead its ICT growth and attract more companies to setup their offices locally. Apart from the technology, bringing together a public-private sector partnership to deliver on a shared ambition, and leveraging support from expert service providers, will be crucial to accelerate the nation’s ambition.

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In the past decade, the use of AI has become a prominent feature in business software and is now being used by marketers to widen the gap between businesses in today’s highly competitive landscape.

One of the biggest competitive advantages enterprises tend to have over SMEs is resources. Smaller businesses often lack the financial support and manpower needed to make a real dent in the market.

Thanks to the democratisation of software, artificial intelligence tools have a key role in levelling the playing field, helping small businesses reduce manual work, automate processes and improve efficiencies.

The results speak for themselves, with 52 per cent of marketers experiencing an increase in sales, and another 51 per cent noticing an increase in customer retention since introducing AI capabilities into the ecosystem, according to a Forbes report. 

Knowing how to best integrate AI into your digital marketing strategy can feel overwhelming, yet it’s a far more seamless process than many realise. Here, we share how SMEs can use AI to amplify marketing efforts to drive customer engagement and brand awareness.

Up the ante on online ads

When it comes to online ads, AI is the superpower all SMEs should have up their sleeves for three key reasons: to optimise ad spend, create compelling content and drive innovative campaigns. AI is being used by marketers to help determine how much budget should be invested in brand campaigns, with 70 per cent of marketers planning to make a significant increase on their AI spend in the next three years.

By constantly monitoring different channels and tracking how campaigns are performing, AI systems can help strategise the optimal cost, timing and platform for brand advertising. 

Also Read: How will AI help marketing strategies in 2020

AI also has the power to support targeted campaigns by analysing data about your core audience demographic, including their interests, preferences and keyword searches.

This data can then be leveraged to run digital campaigns and help to expose your business to other consumers who are similar to the target audience. 

Create compelling content without a copywriter

When it comes to driving traffic to your website, content is of critical importance. SMEs can engage customers from the very first interaction and maintain engagement through compelling content that appeals to the audience. 

AI is increasingly being used to create written pieces, including ad copy, blogs, articles and captions. Notably, Facebook and Instagram have AI-enabled tools that not only help marketers develop ads, but also suggest alternative variations to help diversify content.

Time scarcity is a challenge faced by many SMEs so if you’re a small marketing team or sole trader wearing many operational hats, turning to AI for copywriting will help put some time back in your diary and allow you to focus on other areas of business growth and development. 

Many businesses are now delegating copywriting needs to marketing platforms with AI capabilities to create optimised and targeted content.

This not only saves businesses significant time on developing copy but can help to inform what content will have a better response and engagement rate, generating greater results. 

Update your email marketing strategy

Email is dead, right? No way. Email is the bread and butter of SME marketing and is a great, cost-effective touchpoint to keep consumers actively engaged with your brand. But in a world filled with marketing emails, how can SMEs ensure comms like e-newsletters are securing the interest of customers? With the help of AI.

Thanks to AI, email marketing has become more powerful than ever through improved conversions, personalisation, automation and data analysis. AI can analyse a brand’s historic emails to identify the top-performing subject lines based on opens and click-through-rates, which can help marketers optimise in future. 

After all, the best email in the world won’t be noticed if nobody opens it, and with 40 per cent of consumers deciding whether or not to open an email based on the subject line, an AI-informed subject line can help to cut through the clutter.

Likewise, if you consider the top three reasons why people unsubscribe from emails are the volume; irrelevant content; and not recognising the brand, using AI can help SMEs stand out in an overcrowded market (and inbox).

Also Read: What you need to know about digital marketing for the new normal

By turning contextual real-time data from social and digital advertising channels into easy to understand insights and recommendations, AI can take the guesswork out of marketing to help businesses that don’t have large or experienced marketing teams.

Half of all small businesses fail within the first two years, and marketing, or a lack of effective marketing, is often one of the key reasons why.

Be tactical and work together with AI-powered technology to make sure your startup isn’t adding to the statistics.

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This article was first published on April 15, 2021

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One thing is becoming crystal clear — payments is not only getting easier, but how money moves across borders is fundamentally changing (well, two things really).

And if you’re an avid traveller, you know just how game-changing that could be.

I recently had the privilege of witnessing the future of travel payments unfold at the Singapore Fintech Festival — from Monetary Authority of Singapore officials shaping regional payment policies, to Visa executives reimagining 50-year-old payment systems, to ambitious fintech upstarts like YouTrip transforming how we spend abroad — the energy was electric.

The consensus was clear: travel and finance are colliding in ways that will transform how we explore the world.

Convergence of travel and fintech

When was the last time you caught yourself planning your next trip? That familiar rush of excitement as you browse destinations, check flights and dream about new adventures. Now, imagine all of that enthusiasm paired with cutting-edge financial technology.

This isn’t just theoretical—just look at what happened when Booking.com brought in Daniel Marovitz, Deutsche Bank’s youngest board member at the time. They didn’t just want a finance expert; they wanted someone and a whole function to reimagine how financial services could transform travel.

The goal? To improve credit lines and financial offerings to their partners.

The result? About three to five per cent boost to their bottom line.

What’s even more fascinating is that Booking.com could potentially become a lender to hotels—after all, they have all the data on occupancy rates, booking patterns, and seasonal trends.

Think about it: every traveler is essentially the perfect fintech customer.

From booking flights to splitting bills with travel buddies, from shopping at local markets to managing leftover foreign currency—each journey is packed with financial touchpoints. And that’s exactly why this convergence makes so much sense.

Look at companies like YouTrip, often called the “Revolut of Asia.” They started with a laser focus on travel payments—positioning themselves where the highest and most frequent use cases are. It’s a brilliant strategy: build trust through everyday travel transactions, gather valuable behavioural data, then expand into insurance, loyalty programs, and more based on real customer needs.

Transformative potential of connecting instant payment systems across regions

The future of travel payments isn’t just about making things digital—it’s about making them seamless across borders.

Enter the ambitious Nexus scheme, set to launch in 2027, which will connect the ASEAN five (the region’s five largest economies) with India—home to the world’s largest real-time payments system. This isn’t just another payment network; it’s a game-changer for how money moves across Asia.

But let’s be honest: with this transformation comes some serious challenges. On one side, we need innovation that keeps pace with traveler demands. On the other, we need proper oversight to keep everything secure.

Also Read: Elevating travel experiences: The power of value-added services

The consensus seems to be that private sector innovation leads the way, but it needs to be balanced with smart regulation.

Success requires three key ingredients:

• A governance framework that blends public policy goals with private sector agility
• Cost structures that work for both users and businesses
• High standards that don’t shut out innovative startups

The biggest challenge? Making sure enough people actually use these new systems.

If the volumes don’t materialise, existing industry players will be forced to compete, potentially fragmenting the market further.

Defining new commerce across borders: Payments interoperability and benefits

Here’s the reality of today’s payment landscape: it’s fragmented, complex, and often frustrating for travellers. We’re seeing multiple rails, from traditional cards to QR codes, from touch-and-go wallets to mobile payments. Each works great in its home market, but cross-border? That’s where things get messy.

Take Japan, for instance—a highly developed economy where many merchants still haven’t adopted credit cards or QR codes. It’s a perfect example of how even advanced markets can have significant room for payment innovation.

But change is coming. Look at what’s happening in Southeast Asia—governments are driving real innovation with new payment schemes and QR codes that work across borders. They’re creating systems that let more merchants participate and building bridges between public and private sectors. Imagine using your local e-wallet’s QR code to pay at a night market in Bangkok or a cafe in Singapore—that’s the future being built right now.

The key to making this work? Collaboration.

We’re seeing issuers, merchants, and governments working together not just on technology, but on promoting these new payment methods. After all, what good is a brilliant payment system if travellers don’t know they can use it?

The Visa POV for new innovations

Fun fact: we’re still using the same 16-digit card system that was designed 50 years ago. That’s right—in an age of quantum computing and artificial intelligence, we’re still punching in strings of numbers like it’s 1973.

And in Southeast Asia, where e-commerce already accounts for 50 per cent of payment volume (with cards handling half of that), this analog-era relic is starting to show its age.

Think about your typical online purchase: you’re redirected outside the merchant’s site to your bank, carefully typing in your card number, CVV, expiration date—a process that takes an average of two minutes and 20 seconds.

Why? Because we still can’t fully trust every single website.

In fact, we’ve normalised this friction in the name of security.

Visa’s vision tears up this 50-year-old playbook. Instead of juggling different 16-digit numbers for debit cards, credit cards, and pay-later services, imagine having a single, secure credential. Behind the scenes, Visa handles the complexity while you simply choose your preferred funding source. It’s about time, isn’t it?

Also Read: From mining engineer to travel tech visionary: Darryl Han transforms trip discovery

But here’s where things get really interesting: Asia Pacific has become ground zero for digital wallets. They’re proliferating “like there’s no tomorrow,” becoming the dominant form of payment across multiple geographies.

However, these wallets face a crucial challenge: bridging the international gap. How do you maintain that seamless home-market experience when your customers travel overseas?

And there’s a critical caveat we need to discuss: the rise of real-time payments, while convenient, comes with a serious catch—they’re irrevocable. Once you send that money, there’s no taking it back. It’s a feature that scammers have exploited to devastating effect. In Singapore alone, real-time payment scams resulted in approximately 600 million in losses just last year. And experts believe the real figure might be double that, as many victims are too embarrassed to report their losses.

Looking ahead

The convergence of travel and fintech isn’t just another industry trend—it’s fundamentally changing how we explore the world. The winners in this space won’t just be the ones with the coolest technology; they’ll be the ones who truly understand what travellers need and want.

As someone watching this space closely, I’m convinced we’re just at the beginning. The next few years will be crucial as these systems mature and evolve.

Keep an eye on this space—it’s where some of the most exciting innovations in both travel and finance are going to emerge. After all, when you combine the thrill of travel with the power of modern fintech, the possibilities are endless.

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Indonesia, the largest economy in Southeast Asia, is a driving force within the region, accounting for 41 per cent of ASEAN’s population and 37 per cent of its economic output. Despite significant hurdles, including the 1997 Asian Financial Crisis, the impacts of COVID-19, and persistent structural challenges, we believe Indonesia’s economic growth remains firmly positive.

A key strength lies in its demographic profile—between 2030 and 2040, Indonesia’s productive-age population (15-65 years) is expected to peak at 198 million people, making up over 60 per cent of the total population.

Challenges to growth

Despite its vast potential, Indonesia faces several challenges that need to be addressed. These include corruption, regulatory inefficiencies, and policy barriers that hinder business growth and foreign investment.

Indonesia ranks 115th out of 180 countries on Transparency International’s Corruption Perception Index, highlighting the need for greater efforts to tackle corruption if the country is to attract more foreign investment. Furthermore, an Economist Intelligence Unit (EIU) study ranks Indonesia 58th out of 82 countries for its regulatory environment, underscoring the need for deeper structural reforms to unlock sustainable growth.

Investment and digital transformation: Catalysts for growth

Foreign Direct Investment (FDI) is vital to Indonesia’s success. In Q1 2024, FDI grew by 15.5 per cent, reaching IDR 204.4 trillion (US$13 billion), signalling strong investor interest. Indonesia aims to attract US$545.3 billion in investments by 2040, focusing on industries aligned with the global transition to net-zero emissions.

A major area of focus is the electric vehicle (EV) and green industries, with projected investments of US$30 billion in processed metals and US$45 billion in EV production by 2028.

Navigating challenges with digitalisation

One of Indonesia’s most significant opportunities lies in digitalisation. With over half of its population under 30, the country is ripe for a digital revolution. The government has laid out a clear vision to leverage technology, with policies that support infrastructure development and digital transformation.

The rise of Indonesian unicorns like Gojek and Tokopedia showcases the success of the tech sector, and Southeast Asia’s digital economy is expected to reach nearly US$1 trillion by 2030, with Indonesia poised to capture a significant share of this growth.

Also Read: Indonesia’s startup showcase 2024: The launchpad for Southeast Asia’s tech future

Digitalisation offers Indonesia a unique opportunity to bypass traditional economic constraints and unlock new avenues for growth. The EMAS 2045 initiative exemplifies the government’s long-term vision to position Indonesia as a global innovation hub, driving economic expansion beyond traditional industries.

Sustainable growth and the role of venture capital

Venture capital (VC) has become a key driver of innovation in Indonesia. As the country transitions to a digital and knowledge-based economy, VC investments have surged, particularly in the tech sector.

Approximately 46 per cent of Indonesia’s VC funding comes from foreign investors, primarily from developed markets like the US and Japan. This influx of capital will continue supporting the development of Indonesia’s growing tech ecosystem, fuelling start-ups and innovation-driven enterprises.

Conclusion: A bright future ahead

Despite the challenges, Indonesia’s growth prospects remain strong. With a focus on boosting investment, improving governance, and expanding its digital economy, we believe that Indonesia is well on its way to achieving its goal of becoming one of the world’s top 10 economies by 2045.

However, the road ahead will require sustained effort, the right leadership, and strategic reforms. If done well, Indonesia is set to emerge as a global economic powerhouse in the decades ahead.

To further explore Indonesia’s growth potential and connect with key players driving this transformation, join us at the InvestIdea Tech Showcase Day on November 29, 2024, in Singapore.

This event will spotlight innovative startups and investment opportunities within Indonesia’s dynamic tech ecosystem. Don’t miss the chance to be part of Indonesia’s journey toward sustainable growth. Sign up here. 

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LINE Thailand has launched a new scale-up programme to support high-potential startups in the country. LINE SCALE UP was officially announced at the LINE Thailand Developer Conference 2024.

The programme will provide startups with resources and tools from the messaging giant’s ecosystem, valued at up to 4 million Thai Baht (~US$115,000) per team.

The programme focuses on four key areas:

LINE Platform: Startups will receive credits to use the tech company’s user acquisition tools, including the LINE Official Account, LINE Ads, and LINE Messaging API. They will also receive up to 5 million free messages per month for a year.

Also Read: SCB 10X unveils Thailand’s first purpose-bound money initiative

LINE Networks: Startups will get access to the company’s customer and partner networks across Thailand. This will help them expand their reach and find new partnerships.

Consultation: LINE specialists will provide technical and business consultation to the startups. This will help them improve operational efficiency and meet specific business needs.

Partnership: Startups may have the opportunity to partner with LINE Thailand on new service developments. Select startups may also receive funding from LINE and its global affiliates.

The programme is open to Thai and international startups in the seed to Series A stages. To be eligible, startups must have existing products or services with a proven user base.

Interested startups can apply for the program at www.linescaleup.com or through the LINE Official Account: @line_scale_up.

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The goal of marketing is to make more money than you spend. That may seem like a simple statement, but it’s actually not so simple to achieve! There are many different models for how you can go about this.

In this article, I will go into detail about some of the most common GTM (go-to-market) models that startups use at each stage of their lifecycle and provide examples from my own experiences with startups and Fortune 500 companies alike.

Determining the market needs

The process of determining whether the needs of a target market can be addressed with a product and delivering that product to that group

In the early stage of a startup, you should be focused on finding product-market fit. This means that you need to find the right customers for your product, and those customers have to be willing to pay for it.

It’s not enough that people like your idea; they have to buy it from you at a price point where you can make a profit.

But don’t worry about pricing or profit now. This is called “scalable”. You need to be able to scale later for scaling today, not just put off profitability indefinitely (or worse yet, kill profitability altogether).

The startup journey of seed to series A

You may be wondering how to price your product. The simple answer is to ensure you’re covering your costs. But that doesn’t mean you need to price based solely on the cost of producing your product.

Pricing is also about positioning and differentiation in the market and ensuring that customers value your product enough to pay for it. And after all, if they don’t value what you’re selling them, then they won’t buy!

Your pricing strategy will depend on several factors, including:

• The number of customers who are willing to pay for what you offer (demand).
• Your cost structure (what it costs for each unit).

Focusing on building a great product

Don’t bother doing the things that will be a drag on your company when it grows. Focus instead on building a great product and finding people who love using it as much as you do!

In the early days of your startup, you should do things that don’t scale. This is because there’s no point in scaling something until it’s proven to work.

The focus is on customer acquisition and product market fit, not on sales and marketing or following best practices in those areas. You should still be able to acquire customers at a reasonable cost but maybe not as fast as later on when you’re at scale.

Also Read: Building a business isn’t Ximple. This is what my startup journey taught me

Customer success will also play an important role here since they will help train new hires who are coming in after each hiring cycle (new batch of employees). Customer retention is a high priority because most startups are acquired by larger companies when they get to that point where they need more funding than what their current cash flow can support

A company’s growth may be plotted on a pipeline graph

The pipeline model, which is designed to help you find a way to get customers, has several key components:

• A lead generation system
• A messaging system
• A sales process that your team can scale as it grows

The idea is that you have a steady stream of leads coming in from your marketing efforts and that you can convert those leads into paying customers. In this stage, your focus will be on closing deals more quickly and efficiently than ever before.

Suitable support services

After you’ve managed to get your series A, you have a lot of things on your mind. The business is still growing and evolving, so now’s the time to refine some aspects of your product or service.

You’re also building out key functions like customer support or training, which requires a lot of resources. As a result, it’s important that investors consider the team’s ability to deliver on these new responsibilities before they write another check.

There is no one go-to-market model, it changes at every stage of the startup process.

• You might have been taught that GTM models are set in stone, but they don’t have to be. As your company progresses through its lifecycle, the GTM model will change to match the needs of your business at that stage.
• This shift can be subtle or drastic depending on what phase of development you’re at. If you’re a startup with no audience, then getting people into your funnel is going to be more important than anything else. So we’d recommend using an acquisition-focused GTM model first before scaling up and investing more in things like Retention or Activation later on down the line.
• Once you’ve gotten some traction and customers are coming through your funnels (or just starting), using channels like ads and email marketing should become more effective as well: conversion rates increase when there’s already awareness about a product being available for purchase which means that getting people familiarised with what’s being offered before asking them for money becomes super important!

Final thoughts

It’s important to remember that when you do have a GTM strategy, it will need to evolve with your startup. You can’t expect the same tactic to work at different stages of your startup process, so keep an eye on changes in your business and make sure you stay ahead of them.

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This article was first published on September 2, 2022

The post A guide on the go-to-market models that startups use appeared first on e27.

As of October 7, 2024, Temu, the online marketplace operated by Chinese e-commerce company PDD Holdings, is present in 82 countries and territories. It was anticipated that Temu would expand into Vietnam by late September, and by mid-October, the platform gained significant attention in Vietnam due to its marketing activities—similar to the strategies used in other market openings.

Looking at Indonesia, another country working to protect its domestic industry from ByteDance and PDD, I’ll explore the opportunities and challenges for the local market in light of Temu’s expansion into Vietnam.

Who is Temu?

With the backing of tech giant Tencent Holdings, PDD extended its domestic experience with Pinduoduo and embarked on a grand overseas push with Temu. Temu’s rapid global growth once made its owner, US-listed PDD, surpass Alibaba and JD.com, becoming China’s most valuable e-commerce company. 

Temu has grown in more than 80 countries since its establishment in September 2022. PDD Holding’s ecosystem has generated revenues totalling US$113,355 million, as indicated by the Q2 2024 report of Temu’s parent company. Temu is a formidable rival in the e-commerce sector, having effectively executed the three key growth drivers: price power, product range, and operational efficiency.

Temu’s aggressive footprint expansion is evident as the market opening playbook has been formulated. Over a year after its entry into the Southeast Asia market with launches in Malaysia and Philippines, Temu expanded to Thailand in July 2024, showing a renewed focus on the region. Temu’s expansion into Vietnam has been anticipated.

Vietnam: The 82nd country added to Temu’s market-entry playbook

Vietnam had the fastest YoY GMV growth rate in Southeast Asia e-commerce at 52.9 per cent, surpassing the Philippines as the third largest market in the region with US $13.8B GMV after Indonesia and Thailand, according to the Momentum Works report.

Vietnam’s proximity to China provides advantages in logistics. Many Chinese warehouses have been constructed at the border gate with Vietnam since the livestream phase driven by social commerce surge. 

Temu quietly entered Vietnam at the outset of October. Temu’s social marketing, promotions, and broad affiliate program gained prominence soon after. Prior to Vietnam, despite the low-key openings, Temu’s low prices and 90 per cent discounts, rapidly grabbed attention in the Philippines, Malaysia, and Thailand as well. What we have observed in Vietnam in recent days is already Temu’s market-entry formula.

Also Read: How to unlock the potential of conversational commerce in Asia Pacific

Let’s delve more into opportunities and challenges for Vietnam’s domestic market regarding Temu’s Vietnam expansion.

Vietnam is up against the wall in the fierce e-commerce race with regional giants.

Only when more Vietnamese enterprises are involved in Temu’s supply chain will there be benefits for the domestic economy. Otherwise, cash flow is leaving the country. Local consumers’ cash is spent on regional platforms, foreign suppliers, foreign shipping, and on other foreign middle-layer parties.

Domestic manufacturing businesses face pressure: pricing, and limited consumer spending, now exacerbated by price competition.

Local marketing stakeholders could leverage Temu’s marketing budget at this market-entering stage; however, the benefits are short-term and depend on the company’s strategy, which can be adjusted anytime to serve its objectives. These people are PDD; they possess the capacity to utilise money and perform extremely effectively and efficiently. 

The incumbent market’s business strategy is centred on ROI. Earlier this year, TikTok Shop reduced subsidies and increased commissions across several SEA countries, indicating a shift towards profitability trends. 

To seize the opportunity, strengthening Vietnam’s e commerce ecosystem is demanded

To leverage the economic benefits and maintain the country’s economic ecosystem, there is a need to enable more domestic players to participate in the supply chain, including brands, enablers, payment solutions, delivery services, packaging, aggregators, etc. This requires the capacity of domestic companies and the necessary opportunities & support of the country’s strategy for local businesses and startups.

While it improves the current stagnant employment situation by generating additional job opportunities, it is crucial to develop mid-to high-level personnel with experience for the long-term growth of the Vietnamese workforce.

The competition of Bytedance, PDD, SEA, and Alibaba drives the growth momentum of the e-commerce economy in Vietnam. To seize the opportunities outlined, it is crucial to have the country’s support for investment and financing for local businesses.

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The post Temu takes on Vietnam: The impact on domestic manufacturing and marketing appeared first on e27.