One of the greatest challenges in raising capital for an early-stage venture capital fund, regardless of the theme, is the mindset that venture capital is one big roll of the dice.

Synonymous with a spray-and-pray strategy, some terrible historical data sets like – “nine out of 10 startups fail” and “the average return on every US$1 invested in venture capital globally is 90 cents” – have suppressed appetite and allocations. 

Of course, the conventional venture capital model is fraught with risks, but in order to be successful as a VC fund manager, it is crucial that de-risking remains at the heart of investment decisions.

So, how have we, as a venture capital fund manager, disrupted the historical strategies and delivered a more de-risked investment opportunity for our Limited Partners (LPs)? 

Build a focused portfolio

At Mandalay, we focus on deploying capital into three to four investments per year. Over our five-year capital deployment time horizon, this may equate to 15-20 portfolio companies, which is very compact in the overall scheme of things.

Also Read: Why venture capital is going big with cloud mining

Concentrating on quality over quantity, and never accepting failure as a by-product of venture capital, are two hugely important mindsets. People often ask me how many of my portfolio companies I expect to fail, and my answer to them is, quite simply…zero.

Buy well

I love this strategy that my friend, Ainsley Lee, Head of Investments for NRMA and an LP in Mandalay, has used to build a hugely successful career. Venture capital investing requires rigour and discipline, avoiding investing in companies with overly aggressive multiples (especially on revenue) and not getting caught up in hype or emotions, as they have a tendency to cloud judgements. And needless to say, in early-stage startups, you are never short on hype and emotions.

My points in relation to building a focused portfolio and buying well may seem relatively obvious or generic, but I assure you, in the world of VC funds, they are not. That said, the next two strategies are very much Mandalay’s “sizzle” in the marketplace, and this is how we have found ourselves managing money on behalf of some world-class names.

Founded by founders for founders

I believe that founders and entrepreneurs with business and financial acumen make exceptional early-stage VC portfolios and fund managers.

They have been through a personal founder and startup journey, giving them a unique lens on what it takes to succeed. They can pick up on qualitative markers that other investors miss. Moreover, they speak the same language and relate to the founding team on a personal level, building rapport and mutual respect. 

Mandalay was the brainchild of its four founding partners: Mark Gustowski, Philippe Ceulen, Timothy Hui, and myself, Al Fullerton. Coming from diverse educational and career backgrounds, we each bring specific skills and expertise when it comes to company growth, ensuring all aspects of the business are strategically managed by the partners.

As Managing Director, Gustowski boasts a long history of working at the C-suite executive level. He has partnered with and advised many fast-growth companies over the last 20 years. He also brings tech expertise, having previously worked with the Australian government to develop regional innovation programmes to support farm tech.

Ceulen is the Head of Strategy and leads our Innovation Platform, which encompasses programming, venture building, and community engagement globally, each of which is within Mandalay’s portfolio and across the entrepreneurial ecosystem. He also brings a great deal of experience in community and ecosystem building. 

Huiis the Head of Operations and focuses on growing startups, as well as leading fund operations and governance, and managing all areas of financial and legislative compliance.

And then, finally, there’s me. As managing partner, I have vast experience across agrifood technologies, renewable energy, and sustainability venture capital. I lead investor relations, global technology scouting, and portfolio distribution.

Also Read: The right way of interpreting the corporate venture capital road

Mandalay was founded by founders for founders, and our founder DNA is the ultimate in our risk mitigation and alpha generation tool, which we call “sleeves-up capital”.

Sleeves-up capital

Sleeves up capital mean rolling your sleeves up and helping drive the growth of your portfolio companies, providing so much more than just capital.

At Mandalay, we know what it takes to truly build a venture from the ground up, as we have personally gone through this journey as founders. What we can do now is impart our wisdom and learnings, not in a macro whiteboard quarterly catch-up type of way, but by really jumping into the trenches with the founders and helping accelerate the growth profile of the company, smoothing out that non-linear startup journey curve.

And by buying well and having a focused portfolio, the scalability of this model across the portfolio and the ability to truly add value to each individual investee company is well and truly there.

Venture Capital plays a critical role in the startup ecosystem. Without VC, the companies you and I take for granted each day – innovations that save lives or tech that feeds the masses – quite simply would not exist.

At Mandalay, we drive returns on investment through our sleeves-up capital approach, generating alpha while simultaneously mitigating early-stage risk for our investors. And we do this, all the while helping to ease the burden and smoothing out the daily challenges for investee companies and their founders.

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“Consolidation and explosion”: SEA startup investors reveal 2023 trends they are keeping close watch of
Some 2022 trends will remain relevant, but there are different ways that SEA startup investors want to seize these opportunities

Casa Mia Coliving secures US$1.3M seed funding to expand its local and regional footprint
The funds raised will be used to accelerate expansion and enhance proprietary property management software

Hyperlounge raises US$8M in Series A to grow beyond being a business analytics platform
Hyperlounge aims to establishing itself as an essential partner in digital transformation for global businesses

Eratani closes US$3.8M in seed funding to grow platform-based ecosystem for farmers
Since its 2021 launch, Eratani said that it has managed to onboard more than 10,000 fostered farmers across the island of Java

Handprint raises additional funding from Singtel Innov8, launches Handprint for Impact Partners
Handprint for Impact empowers NGOs to manage and report the impact they create, providing assurance to the businesses that back them

DEA raises US$10M from LDA Capital to accelerate NFT gaming platform PlayMining
DEA is a global Web3 entertainment company launched in 2018. It manages IP monetisation for creators and operates the PlayMining platform

Following up their Series C funding round, Privy to execute Australia expansion plan
The expansion was made possible due to Privy’s partnership with the IA-CEPA ECP Katalis

Validus banks first tranche of Series C round
The company previously said that its series C funding will be used to launch neobanking products in Indonesia, Singapore, Thailand, and Vietnam.

Payoneer secures approval to expand payment offerings in Singapore
MAS has recently handed out the major payment institution license to a number of companies, most recently to Singapore-based crypto firm MetaComp and buy now, pay later major Atome.

Hong Kong rolls out Asia’s first crypto ETFs
HKEX said that ETFs are one of the fastest-growing segments in its product suite

How the three faces theory explains identity issues and the rise of bots
Eliminating the unbearable bots on social platforms has become a painful but critical objective for all social platforms

How Folklory leverages technology to create close-knit cultures in remote teams
Through the power of storytelling, Folklory aims to help people preserve memories and establish a close-knit team culture

6 NFT mistakes to avoid for newbies
An NFT or non-fungible token is a unique digital identifier that is recorded in a blockchain and used to certify authenticity and ownership

Navigating the payment regulations in Singapore
A strong regulatory framework in a highly respectable financial industry, Singapore has positioned itself as the hub for payment and crypto companies

How the app sharing economy is keeping up with the current trends
Heavy apps that would take a lot of time to download from the internet could be quickly transferred, enabling growth in the app economy

The secret sauce of de-risking early-stage venture capital
The conventional venture capital model is fraught with risks, but in order to be successful, it is crucial that de-risking remains at the heart of investment decisions

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Dealing with uncertainty is a huge part of being a startup leader and can be incredibly difficult. It’s been for me. If you are part of a fast-growing company, you deal with daily uncertainty. It’s already a huge part of our lives, and your journey at a startup is no different.

Repeated exposure to high levels of uncertainty can throw entrepreneurs on an emotional rollercoaster, potentially impacting their mental and physical health. Research has shown that uncertainty is constant in entrepreneurship, and as leaders changing the industry, our capacity to tolerate and handle it will significantly contribute to company success. 

This year, company valuations dropped 80 to 90 per cent from their all-time high. Business leaders must manage risks and uncertainties, but risks can be managed with the right mindset and preparation. The silver lining is that, as startups, we get better at handling uncertainty and can come out on the other end stronger warriors.

Capital uncertainty

Uncertainty may create a “no-go” zone around the new market, which allows the startup to create for a while without competition. However, venture funding was down by 53 per cent in Q3, almost US$90 billion. Leaders must aggressively explore and negotiate with different investors, understanding that the conventional venture-backed model is not a one size fits all approach.

This year, leaders we spoke with responded to increased uncertainty by adapting the time and way they raise money and the focus on profitability. Startups frequently operate in a state of financial uncertainty, even if the economy is stable, because they have not solidified their business models. Pandemics are not common; businesses have always had to manage some degree of uncertainty, particularly startups. 

Startups in these examples have taken different approaches to navigate uncertainty, with some focused on maintaining cash flow, some expanding to new markets, and others completely pivoting. Being undeniably fundable (or “default alive”) has been the default in this bearish environment, reducing customer acquisition cost, increasing gross margins, balancing burn multiples, etc.

Product uncertainty

Not reaching product-market fit is perhaps the biggest risk for early-stage companies starting companies at a higher risk. The market size for your product is (mostly) out of your control.

Also Read: Cultivating an honest culture: Why leaders should be transparent

Still, one of the biggest risk-avoidance risks I see teams taking is starting companies with potential markets that are too small to make them economically viable. Instead, business leaders should look into aggressive growth industries, such as Web3, so it gives them a sandbox to keep building.

If you understand where market risks come from, you will be better equipped as a team to make early decisions about whether or not you want to launch your startup in a given market category.

Vietnam’s e-commerce market grew 16 per cent last year from 2020 to US$13 billion, putting them in the top three Southeast Asian countries with the highest online retail sales growth. Startups that will flourish over the coming years will have an unrelenting product focus, both in terms of who they serve and how they serve them.

Customer uncertainty

Many startups learn late that their products have a small to no market. During times of uncertainty, closing the gap between customers’ expectations and your products or services reality can mean the difference between success and failure.

Companies can raise over US$100 million but still be exposed to overnight shutdowns. A core tenet of startups is to confirm the market’s needs before offering a customer-centric product or service to avoid having a business idea with no sustainable path.

Startups may discover new markets or create valuable new products through innovation. Still, if those new markets are ripe for disruption or a new product is likely to be copied by other companies, the chances for success are much lower. 

Final thoughts

Entrepreneurs are at the greatest risk of being broken by the twists and turns of rapidly changing business environments. Because of that, it is only natural that one can become frustrated with the constant failures and complete setbacks that are inevitable parts of an early-stage startup’s journey. 

You should not let that translate into irrational behaviours, as investing time and energy intelligently during your initial startup phase is essential to your startup’s success.

Celebrate risk, celebrate uncertainty, and move forward.

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Singapore-based digital health-science company Aktivolabs has secured US$10 million in a Series A round of investment led by Mitsui & Co, Adaptive Capital Partners, and SEEDS Capital.

HH Investments and Govin Capital also participated.

The funds will be utilised to grow Aktivolabs’s data science capability, strengthen the team and portfolio of products, and broaden its footprint in Southeast Asia, Europe, and the US.

The company will develop the existing algorithm and data-analytics programme to enhance the efficiency and accuracy of predicting, preventing and self-managing chronic disease using digital biomarkers.

“This investment will enable us to deliver an integrated platform to exacting standards, strengthen our customer-servicing capability, and help populations better understand and manage their risk of chronic diseases through individualising digital health journeys,” said Gourab Mukherjee, Co-Founder and CEO of Aktivolabs.

Also Read: How Malaysia is championing regenerative medicine technology

Aktivolabs was co-founded in 2017 by the late Professor David Lai Gourab Mukherjee and Dr Meng-Han Kuok. It provides accessible, affordable, evidence-based, and individualised digital health solutions that help populations understand and manage their risk of chronic diseases.

The platform harnesses real-time digital health data elements in a low-touch, cost-effective manner with measurable actuarial and actionable value to life and health insurers.

It functions as a real-time action decision engine to drive hyper-personalised financial and insurance product development, generates pay-as-you-live insurance products and provides deeper customer experience tailored to client engagement through its proprietary experiential technology.

The current product portfolio includes the Aktivo Score, Aktivo Mind, Glucolife and Goodbiome.

Aktivolabs currently operates in Singapore, Hong Kong, India, Japan, Australia, Philippines, Taiwan, Malaysia, Indonesia, Vietnam, Thailand, Macau and the UAE and is growing worldwide.

“It’s commonly known that the early onset of chronic diseases compromises our financial and mental well-being, and the fast-rising cost of healthcare poses major challenges for populations, governments, insurers and employers worldwide. At the intersection of healthcare, science and data, Aktivolabs’s evidence-based solution deploys its full suite of accessible, affordable, scalable data-scientific solutions through digital biomarkers and individualised health journeys,” says Takeshi Akutsu, CTO (Wellness Business Unit) at Mitsui.

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You know that blockchain is truly becoming mainstream when Starbucks has embraced Web3 by launching Starbucks Odyssey, which it claims will revolutionise the coffee experience.

“As one of the first companies to integrate Web3 technology and NFTs with an industry-leading loyalty programme at scale and to ground the experience in coffee, connection, and community, Starbucks is entering the Web3 space differently than any other brand. Starbucks Odyssey is an experience surrounded by a digital community where members can come together, interact, and share their love of coffee.

“Starbucks is using meaningful elements of Web3 technology to reward members in innovative ways, including ownable digital collectable Stamps (NFTs) that serve as an access pass to the alluring world of coffee and unique experiences with Starbucks,” Starbucks said on its site.

Starbucks, of course, is not the only major brand to jump on the Web3 bandwagon. Notable companies that have embraced NFTs (which are also increasingly being referred to by brands and mainstream media as digital collectibles) in recent months include Reddit, Meta via its Facebook and Instagram services, and Nike.

This wave of mainstream adoption has resulted in many users being onboarded to the blockchain space for the first time. Professionals and experts from different industries now want to transition to Web3.

Also Read: How Dubai is competing with Singapore in the Web3 race

And, of course, disruption and friction come with mainstream adoption and transition.

One of the debates you might stumble upon if you spend some time on crypto and NFT twitter is quite interesting: Web2 vs Web3 people.

When the internet was ‘just a fad’

As someone old enough to have lived through the days when Bill Gates and other supposed experts thought the internet was just a fad. As one of the pioneering online journalists who spun off the biggest Philippine print newspaper into the most visited Philippine news site, this kind of generational clash is all too familiar. And I’m not even talking about the actual age of the people involved, but rather the mindset. 

The fact is that many people in the status quo will try to resist Web3 or, failing that, attempt to tailor it to their needs. Instead of something revolutionary, they will co-opt it as just incremental change, with no need to replace business models and marketing strategies.

Think Microsoft claiming to “embrace and extend” Java once upon a time, or traditional publications only seeing blogging platforms as just a content management system, and bloggers as inferior to journalists.

The funny thing is that yesterday’s revolutionaries and pioneers might now be the ones trying to resist Web3 and decentralisation. 

Apparently, you either die a digital evangelist, or you live long enough to see yourself become the new dinosaur. 

Web3 is the revolution

As someone who has been a storyteller and digital champion throughout my career, from Web1 to Web2 and now Web3, I have reinvented myself several times. And I’m firmly in the camp of the Web3 revolutionaries. 

All of us are migrating from Web2 to Web3, but it is important to acknowledge the contributions of those who embraced blockchain earlier and made the road easier for those who followed. 

This is why one of the sessions I truly appreciated at the Philippine Web3 Festival was Yield Guild Games Global COO Colin Goltra’s “A Brief History of #CryptoPH“. It was an important reminder of how the pioneers of the crypto community in the Philippines collaborated in those early days and helped spread the word in a world where almost no one had heard of blockchain technology.

It’s a reminder that the spirit of Web3 is decentralisation and collaboration. That in Web3, a community is a grassroots movement built from the ground up rather than top-down by fiat by personalities and experts.

Also Read: In photos: SCB 10X’s 10,000 sqft web3 collaborative space DISTRICTX in Bangkok

Oh, and a reminder that builders don’t wear suits.

Fixing what’s broken

After all, as Ethereum Co-Founder Gavin Wood, who coined the term Web3, puts it: 

“Technology often mirrors its past. It acts in line with the previous paradigm, only faster, harder, better, or stronger than before. As the global economy went online, we replicated the same social structures that we had before. We have the web to thank for the modern divides between rich and poor, powerful and impotent, and enlightened and under-informed.

“The internet today is broken by design. We see wealth, power and influence placed in the hands of the greedy, the megalomaniacs, or the plain malicious. Markets, institutions, and trust relationships have been transposed to this new platform, with the density, power, and incumbents changed but with the same old dynamics.”

Don’t get me wrong. I acknowledge that we can learn from the experience and expertise of people who have succeeded in the Web1 and Web2 eras. But they should embrace Web3 with humility, respect for Web3 culture, and a willingness to listen to and learn from the community.

Because in Web3, no one cares what you did before, your title, or where you worked. What matters is what you’re doing now in Web3 and what you’re contributing to the community.

Dreamers and doers

At the end of the day, the conflict between so-called “Web2 people” and “Web3 people” will be based on two extreme views, both of which are wrong.

On the one hand, it’s the mistaken belief of Web2 people that they can waltz in and succeed in Web3. And on the other hand, it’s the misconception of Web3 people that they have nothing to learn from Web2 people.

I don’t think this conflict can be avoided any more than it was back when the internet was new. But I believe that more people will adopt a Web3 mindset and prepare for a decentralised future.

You might say I’m a dreamer, but I’m not the only one.

We are dreamers and doers. Bull or bear, we are builders.

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

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The notion that relationships with customers strengthen competitiveness is hardly groundbreaking. According to a CX Network report, winning and retaining customer loyalty is the second-most popular trend in the Asia Pacific, underscoring that businesses are aware of the opportunities resulting from a firm customer base.

High-quality customer engagement is key to maximising customer loyalty. However, realising that requires businesses to be conscious of the diversity of consumer preferences that span the various national markets across the Asia Pacific. This knowledge will help enterprises to adapt their products and experiences to meet the needs of their customers.

Understanding customer engagement models

A customer engagement model creates positive customer experiences to build and retain your customer base in the long run. In Asia Pacific, the rise in usage of cloud computing and information technology (IT) has accelerated the region’s adoption of customer engagement solutions, according to Spherical Insights.

Also Read: Customer retention strategies are getting trickier. Can you keep up?

Customer engagement should not be viewed as a marketing strategy but as part of the broader business growth roadmap. When choosing the right customer engagement model, businesses need to evaluate their business objectives and how much engagement is required to achieve them. 

Types of customer engagement models

Low-touch engagement model

This approach is most suitable for companies selling low-priced solutions that are simple enough to use, such as online delivery services and teleconferencing platforms.

Human-led communication with customers is limited. Instead, engagement is digitally driven with online tutorials and automated emails providing guides and relevant updates about the product or service they are using.

Products can be used as gateways for businesses to invite non-customers and experience their capabilities. This way, businesses can add another avenue to drive sales lead generation to spur growth.

High-touch onboarding model

This engagement model is suitable for businesses selling high-cost enterprise products or services requiring specialised knowledge. These can include productivity suites and security dashboards.

High-touch models are human-led, with dedicated sales reps or Customer Service Managers (CSMs) interacting with one or more customers in a 1:1 manner. Customer engagement is done via phone calls, email, or live chat services.

Sales strategies are a systematic method of targeting customers in high-touch engagements. For example, while companies may not offer free product trials, they can encourage customers to contact them to enquire about their solutions.

Hybrid model 

This model is a combination of both high-touch and low-touch engagement. Most companies adopt a blend of both and switch between high and low engagements based on complexity and cost.

Some may begin high-touch onboarding and follow up with online tutorials or automated email guides. Other businesses adopt the reverse by starting with low-touch communications and offering extra assistance via live chat or phone calls to customers who face difficulties.

How to build positive customer engagement

Show empathy

The cornerstone of good relationships with customers is empathy. And this starts with listening to your customers, addressing their queries at the right time, and aligning operations to focus on their needs. Building empathy is the first step in connecting businesses with each customer’s journey and creating more meaningful engagement in any successful engagement.

Offer conversational support

Once the user signs up for your product, your business should be ready to provide easy and timely support to customers. Live-chat tools are the most effective and holistic channel businesses can use to serve their customers’ conversational needs.

Also Read: Customer frustrations: How and when to respond

Live chat support can be described as an online version of a salesperson. During the selection process, your customers might have questions like which plan is suitable for them, what is the pricing plan for specific features, and how they can access the software. With live chat support, your customer service teams will always be ready to stay in touch and answer any enquiries your customers might have regarding your solutions.

Drive action

There are many types of marketing messages businesses can utilise to get customers to seal the deal. These can include introducing time or feature limitations and outlining product benefits that appeal to the desire to avoid missing out on a good opportunity.

The art of effective customer engagement

An effective customer engagement model can mean the difference between holding onto and winning customers or turning them away.

Businesses need to decide how each customer engagement model fits their goals, looking in the mirror and asking themselves what kinds of engagements they want to create with customers.

By aligning your strategy with your customers, businesses will not only be able to help customers but leave a strong and genuine impression that the brand is always ready to serve their needs. Ultimately, this will be decisive in engendering lasting customer loyalty.

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2022 has been an optimistic year for the events industry, with more in-person events returning alongside a greater integration of technologies.

Augmented reality and virtual reality are slowly becoming the norm and have far exceeded most people’s expectations. Nonetheless, the industry is still witnessing more technological advancements, with conversations around the metaverse and other new technologies arising, building anticipation and excitement surrounding the future landscape of the industry.

In fact, the annual growth rate for events is expected to increase by 11.2 per cent between 2021 and 2028.

However, before integrating and developing newer technologies to improve the event experience for the audience, it is important that event planners understand and improve on the current fundamental infrastructure of their event tech.

One application, multiple functions

As attendees are rushing to attend multiple physical events, this might slowly lead to the creation of a disorganised and fractured event landscape.

Also Read: A new era of events: How the pandemic created a new norm

Whether it is to search for event information, see a map of the venue or even gather information during networking sessions, having multiple apps or pages open to performing various tasks can prevent attendees from remaining organised amidst the chaos.

As such, this calls for the need for the development of a single application that could possibly and seamlessly integrate all the necessary functions required for the event, from registration to customising agenda, event navigation, as well as networking notes and company booth information.

By streamlining the various uses into one main application that helps to organise the event experience, attendees can have more opportunities to explore the event and connect with other attendees.

A single master key for registration

The proliferation of event tech, such as mobile apps for registration and event applications to help attendees with navigating through the event, is now very much part of a typical event experience.

However, as mentioned earlier, the process can be particularly tedious due to attendees needing to download multiple event-specific applications to fulfil different functions.

The need for a master key, or a platform, that simplifies the registration process is then especially crucial. Furthermore, having a singular application for the registration of events allows marketers additional leverage to recommend similar events according to the user’s preference, as they’re more likely to attend events aligned with their interests.

A platform for customised and personalised events

Having experienced a fully remote era, attendees have been spoilt with having more autonomy and choices in what they would like to do. As such, a huge challenge for event organisers now lies in the difficulty of engaging with their attendees.

To cater to the change in attendee demands, it is necessary to have a platform that helps event organisers by offering their attendees the opportunity to make their own decisions and shape their own personal event experiences.

It is no longer a one-size-fits-all industry. Instead, the event organiser that is able to offer a more customised experience will create the best experience for their attendees.

A common practice of events has been the scanning of a QR code sent to an attendee’s email address in order to check into an event. However, to ease the check-in process for their attendees, a large conference in Singapore enabled attendees to simply scan their faces instead of fishing through their emails for the QR code.

Venue navigation at large conventions and tradeshows can often be a common struggle for attendees, especially for those who know which booths they’d like to visit but the number of booths or the big space makes it difficult to navigate. Organisers can look into implementing a virtual map to help attendees reach their booth of destination while also providing an overview and snapshot of some of the other activities happening concurrently throughout the event.

These examples, while a small change or inclusion, can make the attendee experience significantly more pleasant and engaging.

360 events, an event that never ends

Digitalisation has played a huge role in shaping events by allowing attendees to share experiences not just within the physical location but also outside of it, presenting an interesting opportunity for brands and event organisers.

Also Read: Giving digitally transformed event audiences what they need in 2022

Brands and event organisers who are able to grasp the opportunity to continue the attendees’ experience post-event will find themselves creating a better-shared event experience.

360 events allow for an event that never switches off. Conversations can happen outside of the initial experience, with regular touch points available to incentivise future participation and content-on-demand while marketing other opportunities aimed towards a similar audience.

For Web in Travel, they become the pioneers for travel events to go 360. From partnering with us to run their first-ever Virtual Travel Roadshow to an innovative collaboration for their hybrid flagship event WiT 2020, their annual calendar of events consists of a mix of virtual, hybrid and in-person events.

Paving the way for a robust event scene in 2023

As 2023 approaches, the opportunity to improve the current event infrastructure should be at the top of mind for event tech developers. The current ecosystem is fractured, with attendees using multiple mobile apps and QR codes which makes their experience a confusing one.

The development of a proper infrastructure that focuses on event attendees and empowers organisers to create proper experiences will pave the way for smoother betterment of the event landscape.

In spite of the current event technological advancements observed, this is merely the beginning of what event technology will and could look like.

At Gevme, we launched our mobile companion app to help event organisers and marketers elevate event experiences, providing them with the tools to build a cohesive, customisable event application for their attendees.

2023 will be a crucial year to ensure that the event’s infrastructure is en route towards a newer and better landscape, and it is up to event tech developers and planners to stay relevant and competitive in this ever-changing industry.

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Disasters are inevitable, and disruption is imminent. The devastating impact of natural disaster events is evident in that 50 per cent of global disasters happened in Asia between 2010 to 2019; 800,000 lives have been lost since 2000; +3.2 billion were affected since 2000; and an estimated US$1.1 trillion in economic losses across Asia.

Just recently, COVID-19 has spread across the world, with more than 640 million people infected and resulting in over 6.6 million deaths. 

More than numbers, lives and livelihoods are affected and uprooted during these unprecedented times. This situation creates a long-term impact on society as a whole, especially if there are no clear preparations being made to alleviate the impact. 

When a disaster happens, people on the ground, rescue teams and aid agencies often rely on technology and data to conduct rescue missions and help those who have been affected. Over the years, new technologies have been developed to improve the efficiency and effectiveness of first responders, further deepening the role played by technology in disaster aid relief.

However, as technology is changing and disrupting how we live today, it can make a big difference in changing the outcome of disasters by predicting and preventing, warning and preparing, as well as responding and recovering.    

With the increased intensity and frequency of climate-related disasters such as floods, storms, heat, and droughts experienced in recent years, government agencies and NGOs have been lobbying for policy reform and understanding how different stakeholders work together to create a better strategy around disaster preparedness and resilience. 

This is where technology companies bring in the missing piece. Venture builders, startups, and enterprises bring innovation into disaster space and provide solutions for disaster preparedness and resilience. Fortunately, there is an increasing level of support available.

Last December 7th, Prudence Foundation together with e27, hosted a roundtable discussion to specifically discuss the strategy of these organisations and the resources needed as well as shed light on disaster technology with the theme: The Opportunities and Future of disaster tech in Southeast Asia. The goal of the discussion is to gain greater insights into unlocking private sector participation and create a platform that would give support to technologies that could save lives.

In attendance we had Andre Stolz, Co-Founder and CEO of EcoWorth Tech; Bert Grobben, Chairman of the Board for Budding Innovation; Brigitte Balthasar, CGeog, Senior Disaster and Climate Risk Financing Specialist of Asian Development Bank; Marc Fancy, Executive Director of Prudence Foundation; Matthew Cua, Director of Innovation for HelpNGO; Myles Delfin, Founder of Bike Scouts Philippines; Nicole Ngeow, Director of Prudence Foundation; and Zhunan Jia, PhD, Founder and CEO of Breathonix. Here are some key takeaways from the roundtable session.

What is disaster tech?

Disaster tech or D-Tech refers to technology solutions that can protect lives and livelihoods before, during and after disasters caused by natural hazards. It presents an opportunity to invest resources better and more strategically by backing up technological tools that save lives through disaster prevention, disaster resilience, or disaster preparedness. 

According to Matthew Cua, Director of Innovation for HelpNGO, “It’s very clear to everyone here that [from past disaster response experiences], there’s a lot of waste when it comes to disaster response, disaster relief, and in disaster resiliency. Tech comes in to reduce those waste. For us, disaster tech presents an opportunity to save more money and time to deliver more aid.”

Bert Grobben, Chairman of Budding Innovation adds, “When it comes to disaster tech, there’s a common attitude for companies and individuals to respond once a pain point has occurred, and people tend to pour money in when something is already happening. Part of what we need to focus on is making these investments before the actual disaster occurs, and that is still disaster tech. Averting, minimising the effect of making sure when it happens that we can adjust for the consequences much better.”

The biggest opportunity for disaster technology is in preparedness, prediction, and averting factors to alleviate the impact of actual disaster points, and the adoption of the technology that follows through is where real disruption happens.

Also Read: How 9/11 and the Fukushima disaster fueled Uber and WeWork’s growth in Japan

This article can be summarised in three key insights:

• Partners and available resources would enter in the form of expansion and on-the-ground support.
• Apart from funding as a resource, there is also a need for available real-time data, infrastructure, and community activation.
• The goal is not to become disaster free in its prevention, as this is impossible, but to lessen the impact of disasters on the overall economy and well-being.

Partners and available resources would enter in the form of expansion and on-the-ground support

Collaboration is key in preventing and alleviating the impact of disasters, and finding the right partners is crucial to making it efficient and scalable. To get it up to scalability during disasters, the technology has to be tested, and plans for deployment have to be solidified in spite of the absence of disasters. 

Andre Stolz, Cofounder and CEO of EcoWorth Tech adds “There are a lot of technologies out there surrounding the disaster, but the challenge with these technologies is that they have to be mature to be deployed at a large scale. Bringing such technologies to such a level of maturity takes a lot of resources, including money and people.” 

Stolz (EcoWorth) continues, “What is helpful is to find a way on how these technologies can be brought forward and tested at a smaller scale in the field without waiting for a disaster to happen as it is too late for us if a disaster is already happening.” 

Support from key players in the ecosystem is critical for expansion. When discussing resources, funding is often brought up as one of the biggest challenges. According to Brigitte Balthasar, CGeog, Senior Disaster, and Climate Risk Financing Specialist of Asian Development Bank, “It is not only in the preparedness, but we also tend to focus on disaster management on a holistic view to manage disaster risk. [This includes] increasing the availability and affordability of financial protection tools to use in D-tech, as it is one of the biggest hurdles we have.”

Zhunan Jia, PhD, Founder and CEO of Breathonix, equips, “Our biggest challenge throughout this journey is funding as a critical element for mass adoption [to be spent on] clinical trials and meeting the requirements of different regulatory bodies. We do need funding support from key leaders in this space.” This perspective from a founder is relevant, given that as impact grows, so does the need for reserved funds.

Apart from funding, there is also a need for available real-time data, infrastructure, and community activation

The role of D-tech for disruption needs to be supported by a full ecosystem of policies and regulations, the availability of real-time data and the infrastructure to support this, and the presence of community on the ground.

While funding is one of the greatest challenges, data availability on the ground is also a key focus that needs continuous improvement. Balthasar further explains, “We also see mainly as a challenge is an access to data, whether in [the context of] its availability or cost, and also processability. This also links back to the IT infrastructure as a hurdle. Data security is also a problem with private data, and the IT infrastructure needs to comply.” 

To be used properly, data has to be tangible, usable, accurate, and real-time. This is where the right infrastructure plays a role. 

Also Read: D-Tech Awards unveils 4 Southeast Asian startups aiming to build disaster resilient communities

Cua (HelpNGO) adds, “With D-Tech it can be something conceptual or tangible. In HelpNGO we are building infrastructure that can update real-time data fast and accurately.” With the right infrastructure, data is made more accessible and updated to first responders, who, for example, would need an accurate layout of the land with the help of reliable data from drones. Technology is the crux of building this foundation for the ecosystem.

At the heart of the whole process is community activation driving the strategy and operations during disasters. The involvement of the public is key in gaining significant traction when it comes to disaster resilience. People are important when it comes to swift implementation on the ground, and coming up with a new way of engaging people is crucial to scale adoption. 

Myles Delfin, Founder of Bike Scouts Philippines, said on community activation: “One thing that also needs some investments in is a new way of engaging people. Social media is a very powerful tool [that could also be used] for safety and resilience. We are testing and prototyping how to engage with people and if we can actually get people involved.” 

The goal is not to become disaster free in its prevention but to lessen the impact of disasters on the overall economy, people’s lives and wellbeing

“Resilience isn’t something that you just come up with on the whim. Resilience has to be practised every day, in a convenient way. People need to be participating in the ideas and be actually genuinely involved”, Delfin (Bike Scouts PH) remarks. With disaster tech prevention, it is impossible to completely eradicate the presence of natural disasters. However, we lessen the impact on the public by being prepared with the right data and technology for deployment. 

This should be the goal of different bodies when it comes to investing resources. Prior to the adoption of D-tech, millions of dollars are spent on the aftermath of disasters. Now, there is a call to action to reallocate these resources into taking action before the pain point occurs. This has to be done on a collective and global level, and fortunately, there is holistic support available for companies and startups with technologies applicable to D-tech use cases.

What is SAFE STEPS D-Tech?

The SAFE STEPS D-Tech Awards — created by Prudence Foundation and supported by Humanitarian Partner IFRC and others — aim to find, fund and support technology solutions that can reduce the unnecessary loss of human lives and limit the social and economic impacts of disaster events. 

“At Prudence Foundation, we aim to create a better future for our communities by making them safer and more resilient to life risks. Through the SAFE STEPS D-Tech Awards, we aim to shine a light on technologies and companies that save lives by giving them a platform to highlight innovations and solutions to reach a broader audience. We hope  to catalyze more investment into the D-Tech space to support widespread adoption and scale of the solution or tools that bring positive impact to both the D-Tech companies and communities at large.” Marc Fancy, Executive Director of Prudence Foundation, adds.

What’s next for D-Tech support?

If you are an individual or organization with existing or new technology that is able to contribute to natural disaster-related relief, prevention and preparedness efforts, now is the time for you to connect and gain chances to grow and be a part of an inspiring group of ecosystem players that are working to reduce the impact of the disaster in APAC. 

Find out more about the Awards and the kinds of support available here. SAFE STEPS D-Tech Awards is reopening applications for its 2023 edition; if you wish to be part of the open call and are interested to know more, make sure to register here.

The post The opportunities and future of disaster tech (D-Tech) in Southeast Asia appeared first on e27.

BillionBricks, a Singapore-based climate-tech startup combining clean energy and large-scale affordable housing, has closed a US$2.45 million seed funding round.

SGX-listed Thakral Corporation led the round with participation from ENGIE, a global low-carbon energy and services company.

BillionBricks was founded in 2013 as a non-profit by architect Prasoon Kumar and venture capitalist Anurag Srivastava to address the global climate and housing crises. At that time, Kumar and Srivastava provided shelters, schools, and emergency relief support to over 15,000 people across nine countries.

To expand its reach and impact, BillionBricks pivoted to become a for-profit company in 2020. It combines clean energy and large-scale affordable housing into a single financially-viable business proposition, presenting an opportunity for more people to become homeowners while mitigating climate change.

The company is currently focused on disrupting the present and future of housing and renewable energy through large-scale, net-zero homes and communities.

Also Read: How these two school girls are helping Rohingyan refugees find a good shelter in Bangladesh

The first BillionBricks community will be launched in the Philippines in the coming months. It will cover over 16 hectares of land, 1,600 homes and have 13 MW of electricity generation capacity through a utility-scale rooftop solar facility on top of the housing development. This community alone can offset more than 7,000 tons of CO2 emissions annually.

BillionBricks’s mission and housing projects align with ENGIE’s push for decentralised, asset-based renewable energy solutions. Each BillionBricks housing development comes with a utility-scale rooftop solar farm. ENGIE brings strategic know-how and investment for implementation.

“BillionBricks is taking on multiple sustainability challenges in a single solution and looking to make a significant impact with every project,” said CEO Prasoon Kumar.

Inderbethal Singh Thakral, CEO and Executive Director of Thakral, added: “The investment in BillionBricks is in line with our strategy of expanding our focus to include impact investing and contribute to reducing environmental impact while helping communities in need.”

“ENGIE is focused on accelerating Southeast Asia’s energy transition towards carbon neutrality while ensuring it remains affordable, available, and sustainable. By combining affordable housing and solar energy production, BillionBricks will help to achieve a fair energy transition,” said Thomas Baudlot, CEO for Energy Solutions (APAC) and Country Head for Southeast Asia.

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For our 25th episode, we are excited to welcome Emil Michael. Michael is the former Chief Business Officer of Uber and played a huge role in the company’s global expansion. Prior, Emil was the Chief Operating Officer of Klout, Special Assistant to the Secretary of Defense, and Senior Vice President at TellMe Networks, and has been a strategic advisor for many companies who have IPO’d or been acquired.

In our conversation, Michael shares many key insights around how Uber successfully reached a global scale and empowered a distributed team, including the importance of thinking “glocally,” why it’s crucial to hire locally, how to map out your expansion plans, and much more.

Also Read: How 9/11 and the Fukushima disaster fueled Uber and WeWork’s growth in Japan

Listen, subscribe, and leave a review now on Apple, Spotify, or your favorite podcast platform.

Find our entire podcast episode library here.

Get your copy of our Wall Street Journal Bestselling Book, Global Class, a playbook on how to build a successful global business.

This episode is sponsored by our partner ZEDRA. Learn more about how the ZEDRA team can support you in expanding to new markets here.

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The content was first published by Global Class.

Image Credit: Global Class

The post How Uber reached global scale by empowering localisation appeared first on e27.