The start of a new year is a great time to make a list of new year’s resolutions to help you accomplish your personal and business goals. The usual answers are to sweat a lot more, lose 10 kilos, spend more time with your loved ones, catch up with your old friends, reduce debts or even read more books. They are all fantastic resolutions and great goals.

But if you’re an entrepreneur or a startup founder, you would have missed out if you don’t look at the following new year’s resolutions for your business.

Incorporate your legal entity and follow the legal formalities

Stop exposing yourself to legal risks and personal liability. Form the correct legal structure to operate your business (usually, your business should be formed as a private limited company in your jurisdiction) to ensure that you separate your personal assets against business assets. In other words, no commingling of assets.

If you run a business with more than two people, get it formalised in a founders agreement

What happens if one of the cofounders has a disagreement or has a different change of priority or focus after six months or twelve months after you’ve started a business together? What if a cofounder got into a nasty divorce or even sudden death? What happens if there is a deadlock, say if there is a disagreement between co-founders over a new business development manager? How will such a ‘sticky’ issue get resolved?

These agreements are usually referred to as the founders’ agreement, operating agreement, shareholders agreement, and partnership agreement. Whatever the agreement’s name, entrepreneurs should ensure that they have this agreement to help ensure that the business transition can be smooth and the business can continue as usual.

Assess your business plan

I know with exceptions to corporate planning or venture capital funds, young entrepreneurs or founders may not see the value of having a business plan (especially when you’ve got an ongoing pandemic out there). But a good business plan still plays a considerable role to make sure that you remain in line with your business goals for the immediate future or even long term. Make time to review, evaluate and update your business plan.

Also Read: Three startup resolutions I made that did not work out the way I expected

Put your verbal promises of ownership to employees

If you’ve agreed to give out equity to your employee or anyone that has contributed in your business, get it done in writing. A formal sweat equity agreement or a simple offer letter can set out the promised ownership, including the necessary vesting schedules or other ownership restrictions. Again, if you’ve promised to issue shares to somebody, get it done now. Yes, do it today, not tomorrow or next week.

Protect your intellectual property assets

Do a full audit of your company’s business and assess what your intellectual property assets are. Run through the checklist on protecting your intellectual property assets and take the necessary steps to file and protect your trademarks, trade names, copyrights (i.e. contents, software) trade secrets and other relevant intellectual property assets.

You may not know you’re sitting on a valuable IP asset that can be monetised for revenue for your company if you license it to a customer. Anyone who contributes to the company, including the staff and independent contracts must sign an intellectual property assignment and the confidentiality agreements.

Do a cybersecurity audit

Cloud services are no longer popular or default option among startups or technology companies. Even brick and mortar companies are moving into the cloud and using online platforms to sell their products or services. Your employees may also be working from home and sending emails or confidential documents using cloud services.

Ensure that you take the necessary steps to avoid potential cybersecurity breach and implement plans and strategies to address a security breach if phishing or even social engineering attack.

Put your verbal agreements to writing

The founding father of the United States,  Benjamin Franklin says its best, “Creditors have better memories than debtors.”

Every important business deals and terms and conditions and agreed discussions need to be in writing. People forget stuff. Memories can fade. Your customers or people in charge of your vendors change. Confusion and disagreements can happen. Avoid disputes and get a peace of mind when you put things in writing.

Have a record-keeping policy

Everyone in the company should keep track of documents in some form of a document management system. It could be Google Drive, Dropbox, OneDrive etc. but do have a standardised rule that everyone can follow easily.

Also,  confidential documents involving customers personal data, transactions, payment details (i.e. credit/ debit card details), customer service logs are accessible by the only relevant person in a company on a ‘need to know’ basis. A simple example will be to encrypt personal data like users’ password instead of merely storing them in just plain text.

Also Read: 2020 drained all my energy. Here’s what helped turn things around

Also, founders and entrepreneurs should copy their latest statutory records and filings made by their company secretary to the companies’ registrar. Having a copy of these filings also helps keep things handy when doing a corporate exercise like a fundraising round or an audit to have things ready.

Understand contracts and the terms

Every entrepreneur or founder should not sign a contract that they do not understand. You may not agree with every provision, but you should know the consequences and legal implications when signing a contract. Refuse to be bound by a term that you don’t think is acceptable or understood.

Review and improve your contracts for important agreements

All agreements that you use again and again in your business should get a review. You should contact your legal counsel to review your usual agreements annually or when there is a change of business model by your legal counsel. Get your lawyer to vet and craft the terms to reduce exposure and limit your business’s potential legal liability.

Tackle issues directly (and put them in writing)

Conflicts can arise for many reasons with another party. If there’s a problem, review the relevant contract and determine the appropriate actions based on the agreed terms. Put things in writing. In my experience, ignoring issues or concerns will not make them go away. Things can worsen as it may result in unintentionally waiving rights or consent to a new scenario that may deviate from the originally agreed terms.

Deal with employees matters methodically and carefully

Do not mischaracterise employees as independent contractors or freelance workers because you cannot afford to pay their regular salaries.

The pandemic will be challenging for entrepreneurs struggling with cashflows. Do not change existing employment terms unilaterally, including reducing employees’ salary without their express consent. If you need to do a pay cut or layoff, do not ignore applicable employment laws.

Or worse neglect your statutory obligations like contributing and deducting your employees’ monthly provident funds, social security payments, and monthly income tax deductions on behalf of your employees.

Formalise agreements with employees to protect the business

In addition to the existing employment or services agreements, when necessary, enter into a non-competition, non-solicitation, confidentiality agreements with key employees.

Pay taxes

The issue of taxation was mentioned in the Bible about the Roman dictator Julius Caesar during the Roman period. Here’s a reference to Mark 12:17:

“Jesus said to them, ‘Render to Caesar the things that are Caesar’s, and to God the things that are God’s.”

Unfortunately, we cannot ‘choose’ if we can pay or not pay taxes, so we have to pay them if we are eligible taxpayers. Do not delay in paying your taxes as a way to “managing cash flow”. Failing to declare income or under-reporting sales in your annual tax reporting, and deducting applicable monthly tax deductions against your employees will result in fines, penalties, and even personal liability.

Get the relevant insurance coverage for your business

Assess your current insurance policies and coverage with your usual trusted insurance agent and ensure that your business is adequately insured. If you do not have an insurance policy in place, get an insurance agent to assess your business if you should get certain aspects of the company covered like personal accident, theft, general liability, etc. Make sure you understand the fine prints, and you are not paying an unnecessary premium.

Also Read: Lockdown learnings: How I became a half-decent product manager in 2020

Get the best team of professional advisers

Ask around and engage competent company secretary, legal counsels, tax adviser, and accountants with relevant industry experience. Find an adviser or a professional who is willing to work with you as a ‘team member’.

Don’t work with someone who looks at his time all the time (i.e. ‘by the hour’ mercenaries or hired guns). If you are a startup, ask for a  ‘startup-friendly’ package. And know when to engage a lawyer to protect yourself for unnecessary legal hassles.

Finally, a professional may come highly recommended or an expert in a particular area. But before hiring someone do ask yourself, “Do I like him or her as a  person?”

Assess and evaluate financing options

Assess your current funding sources. If you’ve taken money from a venture fund or an angel, look at your current funding terms so that you can anticipate any financial challenges or funding needs. If you are raising money, make sure you know how much money you need, including the proposed terms.

Draw up a succession plan

Technically, a legal entity exists in perpetuity, and the business owners can change. Every business owner needs to come up with a succession plan in place. Some business owner may want to plant their exit by selling the company to another more significant player or a strategic investor.

Even so, you may not get to maximise your full business value if you rely too heavily on certain vital people or critical relationships. In practice, it can be hard to assign a person a formal agreement with a crucial hire. A good talent may leave you if he is unhappy with how you’ve treated him when he sees that his boss is making a big bonus from selling the company.

Starting this year with completing even a couple of these resolutions can ensure that this year could be a healthy, happy and exciting one for your business. Of course, getting these resolutions done while keeping up with a healthy lifestyle and spending quality time with family and friends will make this new year a good one.

–

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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

Image credit: Tim Mossholder on Unsplash

The post It’s never too late: 18 new year resolutions for founders and entrepreneurs appeared first on e27.

 

Lendela, a Singapore-based consumer credit management platform, announced today it has raised US$2 million in pre-Series A financing round led by existing investors Promise Future International and Luxembourg-based early-stage VC fund 2be.lu Investments.

The startup shared the fresh funds will be used to support its growth plans across Singapore and Hong Kong, with plans to hire new talent in tech development, business development and marketing.

Launched in 2018, Lendela connects borrowers to partner lenders through an online loan application form. The platform shared applicants would be presented with multiple offers and can sign their loan documents within 24 hours of applying.

In the same year, it announced a US$942,000 seed funding round led by Cocoon Capital and IMO Ventures.

Since its launch, Lendela remarked it has expanded its network to 40 strategic partners, including banks such as Standard Chartered Bank and HSBC.

Also Read: Matching-making for loans: Why online lending platform Lendela has set its eyes on Asia

Having claimed it achieved seven times growth in 2020, Lendela now serves over 50,000 borrowers in Singapore and Hong Kong.

The platform said plans to develop its product to further reduce friction for customers, providing customer identification services, alternative credit scoring, as well as continuing to speed up the loan application process.

“With COVID-19, the shift towards digitalisation has accelerated across Southeast Asia. Lendela’s digital lending process is even more valuable in a pandemic with restrictions on social interaction,” said Nima Karimi, CEO and Founder of Lendela.

“There is an incredible opportunity for growth and improvement in the region’s digital lending space and Lendela is well-placed to capitalise on it,” added Pierre Lorinet, who recently joined Lendela’s board of directors.

According to a study conducted by Google, Temasek and Bain & Company, digital lending in Southeast Asia is on track to grow 33 per cent annually to reach US$18 billion by 2025.

–

Image Credit: Lendela

The post Lendela bags US$2M pre-Series A to expand consumer credit platform in Singapore, Hong Kong appeared first on e27.

SoundOn, a one-year-old podcasts platform in Taiwan, has just been jointly acquired by Singapore-based Kollective Ventures (KV) and Turn Capital (TC), a family office launched last year by Joseph Phua, co-founder and non-Executive Chairman of M17.

With this strategic deal, the two VC firms have big ambitions and they want SoundOn to grow beyond the home market into Southeast Asia. According to Phua, while the region’s podcasts market is still in the nascent stages, it offers massive growth potential.

In this interview, Phua shares the rationale behind the acquisition and how this deal allows them to further invest and develop the podcast ecosystem.

Edited excerpts:

Kollective Ventures and Turn Capital have jointly acquired SoundOn. How does this joint acquisition work? How does this deal benefit each other as well as SoundOn. What is the synergy?

The joint acquisition creates a Special Purpose Vehicle (SPV) in which both parties inject capital into this SPV and it then acquires SoundOn. Given my background, I will provide operational expertise as well as advice as a shareholder. This joint acquisition will then become a rocket ship – powered by capital injection, operational expertise as well as network – for SoundOn to accelerate its growth trajectory.

The podcasts industry is still in the early stages and hasn’t gotten much traction in Asia yet. Despite this, why did KV and TC make a bet on SoundOn, which is just over a year old?

The industry has taken off in a significant way, as can be seen by the number of podcast downloads that SoundOn has achieved just after slightly a year into the business, with over 35 million downloads a month, and fast growing to 500m this year.

Also Read: Kollective Ventures and Joseph Phua’s family office acquire SoundOn, a Taiwanese startup with 35M monthly podcast downloads

We strongly believe in the business of audio entertainment/podcast industry in Asia. Already, we see global giants like Spotify and Apple making huge forays into the space. We expect this trend to continue into Asia sooner rather than later.

How is the podcasts industry growing in Taiwan vis-à-vis Singapore/Southeast Asia. What are the key characteristics of the Taiwanese market and consumers?

There’s a burgeoning number of podcasters in Taiwan. For SoundOn, we work with more than 7,000 active podcast programmes/podcasters and we have over 70 per cent of the market share. In fact, the pace of growth is in line with the growth of YouTube during its initial popularity in Taiwan.

Likewise, we expect the same trend to occur in Southeast Asia. After all, podcasts are another medium for the transfer of information and the sharing of content which is much like videos on YouTube and other significant content distribution platforms.

As per a press note, KV and Turn Capital will look to continue to accelerate the growth of the company and the industry in the near future. How do you plan to achieve these two objectives?

The responsibility of educating the general public of any industry that is in its early stages of growth usually falls on the leaders. Thus, it’s not any different in this case with the podcast industry.

Also Read: ‘Companies shut down not because of crises but only when founders give up’: Joseph Phua of M17

We expect that we will be investing resources, from time to capital, into SoundOn and the podcast industry at large, to assist SoundOn on its path to become the dominant podcast platform in the region.

Do KV and TC have plans to bring SoundOn to Southeast Asian markets like Singapore? Do you see massive growth potential for SoundOn in the region?

Yes, SoundOn has near term regional ambitions because of the massive growth potential.

Where is Southeast Asia’s podcasts industry headed for? What is the growth rate? Do you expect new ventures to pop up in the podcast industry?

It’s super early, and so rate of growth will be very high. We expect there to be significant number of similar ventures pop up soon, and are looking to make further investments/acquisitions in the general audio entertainment space.

What is lacking in Southeast Asia when it comes to the adoption of podcasts platforms? What is hindering the growth? Do podcasts companies struggle to generate revenues unlike SoundOn, which relies on ads? What kind of business/revenue model will suit Southeast Asia?

Certainly, podcasts are ripe for adoption in Southeast Asia. What we need to do to facilitate its adoption is to educate the public, in terms of consumers and content producers.

Using SoundOn as an example, they have been profitable relatively early on given its market leadership and strength in advertising sales. There are multiple monetisation models available that SoundOn can tap into and this goes beyond relying on advertising as we see in other global comparables.

Also Read: Kollective Ventures acquires Paktor Group from M17 Entertainment

Hence, we expect SoundOn to experience exponential growth in its revenue and profitability in the next 24 months.

Last May, KV acquired Paktor. Does KV have plans to integrate SoundOn into Paktor?

Under the Paktor Group umbrella, there is an audio social entertainment application called Goodnight, which provides live entertainment and audio dating services. We believe there to be synergies between the platforms and will actively explore bringing them together.

We believe that the future of audio entertainment is just beginning and this acquisition marks a step towards establishing an Asian beachhead on this front.

—

Image Credit: Turn Capital

The post ‘SEA’s podcast market is ripe for adoption; we just need to educate the public’: Joseph Phua of M17 appeared first on e27.

Global VC firm 500 Startups has announced that it has promoted Ee Ling as Regional Director for APAC.

In this role, Ling will be heading 500 Startups’s business development for corporate and startup innovation programmes in the region.

She will also be responsible for forging partnerships and strengthening relationships with corporates, governments, enterprises, foundations and other stakeholders involved in developing startup ecosystems across the globe.

Ling has over 13 years of experience in investment banking, consumer, retail, technology and edutech. She was previously the Singapore Country Lead (Innovation & Partnerships) for 500 Startups and has built and led innovation programmes for corporates and startups in Singapore and Malaysia. They include the Global Launch market access accelerator programmes, the PETRONAS FutureTech accelerator programme, and The Future of X UnConference.

Ling also spent nearly a decade in investment banking institutions such as Bank of America Merrill Lynch and CIMB, where she advised corporations in Southeast Asia on growth and fundraising.

As a co-founder of edutech company Smarter Me, which addresses the gap in relevant 21st-century skills and what children are learning in school, Ling is actively involved in the region’s startup ecosystem.

Since 2018, she has organised, hosted and mentored for Young Founders Summit, a leading startup competition and entrepreneurship programme for middle school and high school founders in Asia.

Also Read: 500 Startups launches Angkor 500 to accelerate the development of Cambodian startups

Ling said: “We have seen exponential growth in Southeast Asia’s startup ecosystem over the past few years, thanks to a combination of strong economic progress, the rise of a digital-savvy population and close collaboration between stakeholders in the startup ecosystem.  However, there is still ample room to grow and innovate, and that is what makes it exciting for 500 Startups.”

500 Startups is one of the most active global early-stage VC firms which has invested in over 2,500 companies across 78 countries. Its fund in Southeast Asia called 500 Durians, which has backed over 200 companies across multiple verticals.

Among its portfolio companies are tech giants like Grab, Bukalapak, Carousell and Alodokter.

—

Image Credit: 500 startups

The post 500 Startups promotes Ee Ling as Regional Director to spearhead innovation programmes in APAC appeared first on e27.

Catcha Investment, a blank cheque company — aka special purpose acquisition company (SPACE) — formed by Malaysia’s Catcha Group, has filed to raise up to US$250 million in an initial public offering.

The news was first published by Renaissance Capital’s on its website.

The Kuala Lumpur-based SPAC plans to raise the proposed capital by offering 25 million units at US$10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at US$11.50.

Also Read: David Gowdey of Jungle Ventures: Why we will see an IPO from SEA in the next 12-18 months

At the proposed deal size, Catcha Investment would command a market value of US$313 million, according to this article.

Catch Investment is led by CEO and Chairman Patrick Grove and President and Director Luke Elliott, co-founders of Southeast Asian internet investment firm Catcha Group.

Catcha Investment intends to focus on a target with operations or prospective operations in the technology, digital media, financial technology, or digital services sectors (new economy sectors) across Asia Pacific, particularly Southeast Asia and Australia.

While the concept of SPAC has been around in the market for many years and is used as a mechanism to bring companies public in the US, it has been relatively new to Asia, where companies are yet to jump on the bandwagon.

Also Read: Traveloka considers SPAC option as it plans to go public

However, the recent past saw several SPACs pop up. Early this month, Poema Global Holdings, a SPAC focusing on tech firms in Asia and Europe, announced it has raised US$300 million in its IPO on the NASDAQ stock exchange.

Earlier, Bridgetown 2 Holdings, a SPAC targeting internet economy companies in Southeast Asia and backed by billionaires Peter Thiel and Richard Li, announced last month that it was seeking to raise US$200 million in an IPO in the US.

—

Image Credit:

 

The post Catcha joins SPAC bandwagon, files for a US$250M IPO in US appeared first on e27.

When group-buying models emerged as a shopping strategy in China, it quickly became a game-changer.

One of the greatest success stories of a company who has seen as astronomical growth using this model is none other than Chinese e-commerce unicorn Pinduoduo. It quickly became the country’s most popular social e-commerce platform and managed to go public just after three years of its presence.

Besides ranking third in China’s e-commerce with nine per cent online retail market share, it also grew its GMV to 73 per cent more in 2020 as compared to 2019 –despite the ongoing COVID-19 pandemic.

Inspired by the success story of the tech giant, Vincent Xue, a serial entrepreneur who previously co-founded ezbuy, decides to launch WEBUY, a social e-commerce platform that runs on a group buying model.

Launched just a year ago, WEBUY aims to develop a people-centric technology that can provide quality F&B products through a community-centred enterprise.

WEBUY also recently announced the completion of its Series A investment round led by Wavemaker Partners, followed by Centauri Fund and Global Founders Capital (GFC).

How it works

The way it works is that several people can sign up on the platform and get connected to each other to approach a vendor of a specific item to collectively bargain for a lower rate.

People who live close to each other can purchase F&B products such as food and groceries as a group, collect them at designated locations and in the process, save money through bulk purchase and low delivery costs.

Also Read: Startup of the Month, April: Social commerce platform TokoTalk

This results in a win-win situation for both parties as shopper need to pay less for an item and vendors can benefit by selling more items to shoppers without worrying about logistics.

Growth

According to Xue, the app saw over 20,000 downloads within just two months of its launch and due to its quick growth, the platform has expanded into Malaysia and Indonesia.

“We believe that the market size for community group-buy models in Southeast Asia will reach over US$10 billion within 10 years. China’s overall community group buy model market size is estimated to expand to over CNY100 billion (US$15.4 billion) in 2021, which is estimated to account for around 20 per cent of total online grocery retail,” he says.

“In the Southeast Asian market, as the e-commerce penetration rate for product and service is still hovering low at about 10-15 per cent, while China’s is over 40 per cent, this will offer an opportunity for community group buy models to enter into segments other than grocery,” he further adds.

Backed by Rocket Internet, the startup claims to have grown five times and is currently supporting 3,000 group leaders, who collate and purchase orders for over 100,000 consumers across its three markets.

Future plans

The startup is planning to further grow its footprint in Southeast Asia by expanding to Vietnam and the Philippines this year.

“We plan to recruit a batch of global venture builders and send them to different countries to kick start the business. But aside from that, we are also planning to invest US$1 million into our tech team to create a better user experience for all our customers and group leaders,” he shares with e27.

Also Read: Is Southeast Asia ready to give birth to interactive e-commerce platforms like Pinduoduo?

Generally, group-buying models are popular with price-conscious consumers who are but not limited to lower-medium income groups.

Taking that into consideration, while Singapore may not be that big of a market for WEBUY, countries such as Vietnam and Indonesia can create a greater possibility because of its population size and community-focussed demographic.

But will it create that big of an impact that Pinduoduo created in China within only a few years? Only time will tell.

–

Image Credit: WEBUY

 

 

 

 

 

The post Can WEBUY leverage on the group-buying model to become the Pinduoduo of Southeast Asia? appeared first on e27.

Klook, a Hong Kong-based travel and leisure booking platform, announced today it has raised US$200 million in its Series E funding round, led by local investment firm Aspex Management.

Existing investors Sequoia Capital China, Softbank Vision Fund 1, Matrix Partners China, and Boyu Capital, besides a few unnamed new investors, also participated.

As per a press note, the new capital will be used to bankroll the development and roll out Klook’s merchant SaaS solutions, which will enable merchants to build, manage and scale their business on the platform.

With the travel industry heavily impacted by COVID-19, the company has re-prioritised its core strategic strengths and is now focused on two main areas — digitising the experiences booking sector and launching new verticals such as staycations and car rental.

In key markets such as Singapore, Hong Kong and Taiwan where restrictions have eased, Klook claims to have witnessed increased spending on local experiences, with bookings reaching near pre-pandemic levels as locals start exploring domestically.

Also Read: Online travel is expected to bounce back to US$60B by 2025, says e-Conomy SEA Report

“We’ve observed over the past year that consumers have a pent-up desire to explore and enjoy themselves, despite international travel being paused. Instead, they are turning inwards exploring new and unique experiences right in their backyard,” shared Ethan Lin, CEO and Co-founder at Klook.

“The travel industry has undoubtedly been hit hard by the pandemic, but Klook has shown resilience and adaptability despite the market headwinds. We believe the transition toward digital bookings will only accelerate post-COVID-19, and Klook is well-positioned to capitalise on this trend,” said Hermes Li, CIO and Founder of Aspex Management.

Despite being in extended lockdowns, Klook remarked that it has seen merchants eager to digitise their business. At the height of the pandemic, Klook onboarded 150 per cent more activities compared to the same period in 2019.

The company has also entered into partnerships with the Hong Kong Tourism Board, Singapore Tourism Board, and the Tourism Authority of Thailand, among others, to help diversify offerings and to grow demand domestically.

In Singapore, Klook was appointed by the Singapore Tourism Board as an authorised booking partner for the SingapoRediscovers Vouchers to boost domestic demand and reinvigorate the industry.

—

Image Credit: Klook

The post Klook raises US$200M Series E to roll out SaaS solutions for local experience providers appeared first on e27.

iStore iSend, a Malaysian logistics and supply chain company, has secured US$5.5 million in a Series B round, co-led by Gobi Partners and logistics company EasyParcel.

The Selangor-headquartered startup will use the fresh capital to expand its services outside of Malaysia to more faster-developing markets such as the Philippines, Thailand and Vietnam.

A portion of the funds will also be used for the acquisition of online-to-offline (O2O) clients in existing markets.

iStore iSend is an end-to-end fulfilment solution company providing clients with a complete omnichannel experience, from warehouse management to shipping.

Also Read: Afternoon News Roundup: Indonesia’s logistics-tech firm Kargo snags US$31M Series A

The company has developed new functions and capabilities around helping offline companies go online by offering e-enabler services for brands and retailers, including online store setup, besides brand onboarding solutions for online e-marketplaces, official online store management, and growth and marketing campaigns management.

“The full-stack services that iStore iSend offers its clients as well as the full integration of its system into the most popular e-commerce sites is a real opportunity for investors that should not be overlooked,” Thomas G. Tsao, Chairman and Founding Partner of Gobi, said.

“With the spike in online shopping brought about by last year’s pandemic, more e-commerce players will want to grow their market by enhancing the efficiency and movement of their SKUs (stock keeping unit). iStore iSend is in a strong position to help with those efforts,” he added.

While there have been a surge in the number of online buyers over the past few years in Southeast Asia, there has also been neck-to-neck competition in the sector in the region. Among the leaders in the logistics and supply chain sector are Kargo, Moovaz, Waresix, and Ninja Van.

Also Read: In October, logistics tech startups continued to gain investors’ attention as the world struggled through a pandemic

—

Image Credit: iStore iSend

The post iStore iSend raises US$5.5M to grow its logistics and supply chain biz beyond Malaysia appeared first on e27.

Over the last couple of weeks, we’ve been working on verifying the investors on the e27 platform.

Being a verified investor means that there are people managing the investor profile in an official capacity. More than just reassurance that these are legitimate investor profiles, it also means that e27 Pro members can directly engage with these investors via the Connect feature.

Check out these ten verified investors that you can connect with for advice, mentorship, and fundraising opportunities”

Swiss Founders Fund
Stages: Seed, Series A
Verticals: All
Investment Range: Not Specified
Straight from Swiss Founders Fund:
Swiss Founders Fund is a is a seed and early-stage investment fund based in St.Gallen, Switzerland. Unlike traditional VCs, SFF focuses on incubating own ventures with a long-term perspective and invests and builds companies globally.
Connect with them

Yangon Capital Partners
Stages: Angel / Pre Seed, Seed, Pre-Series A / Bridge, Series A
Verticals: Not Specified
Investment Range: Not Specified
Straight from Yangon Capital Partners: Yangon Capital Partners (YCP) is the venture capital arm of Trust Venture Partners Co., Ltd.(TVP), a Yangon-based advisory group. YCP supports founders of startups and SMEs with early-stage capital.
Connect with them

Halma Plc
Stages: Series B, Series C & Above
Verticals: Artificial Intelligence, Big Data, Cleantech, Cybersecurity, Hardware, Healthtech, Internet of Things, Manufacturing, Medtech, Robotics, Smart Cities
Investment Range: Not Specified
Straight from Halma Plc: Our strategy is powered by our purpose. It is focused on acquiring and growing businesses in global niche markets, in our chosen areas of safety, health and the environment. Our Core strategy is to grow our companies both organically and through M&A, and will continue to be our major focus. Our Convergence and Edge strategies recognise that the increasing rate of technological change, including data and connectivity, is opening up new ways of growing our business and leveraging our collaborative culture.
Connect with them

Cornerstone Ventures Co., Ltd.
Stages: Seed, Pre-Series A / Bridge, Series A, Series B
Verticals: All
Investment Range: USD 200K – USD 1M
Straight from Cornerstone Ventures: Cornerstone Ventures mainly invest in digital startup teams, and we prefer startups that utilise new technologies such as AI to improve business more effectively. We look for startups that have links to Taiwan, including Taiwanese entrepreneurs abroad, international startups who are thinking about expanding to Taiwan, or startups who are already operating in Taiwan.
Connect with them

Alto Partners Multi-Family Office
Stages: Pre-Series A / Bridge, Series A
Verticals: Consumer, Education, Finance, Insurtech
Investment Range: Not Specified
Straight from Alto Partners Multi-Family Office: In 2019 we launched the Alto Partners Venture Capital Fund (APVC), an exclusive vehicle for our family office partners to participate in several exciting early-stage technology investments, sourced directly through our network. APVC targets pre- Series A and Series A investments, where we can lead or co-invest alongside prominent partners.
Connect with them

Moonshot Venture Capital
Stages: Series A
Verticals: Artificial Intelligence, Internet of Things, Logistics/Supply Chain, Manufacturing
Investment Range: USD 1M – USD 3M
Straight from Moonshot Venture Capital: Founded in 2018, Moonshot is a venture capital firm collaboration among leading corporates in various sectors including manufacturing, energy, and logistics. Our investment will follow the company policies which focus on Industrial and Deep Technology.
Connect with them

Das Capital SG
Stages: Seed, Pre-Series A / Bridge, Series A, Series B, Private Equity, Venture Debt
Verticals: Artificial Intelligence, Blockchain, Finance, Internet of Things, Sharing Economy, Software as a Service, Transportation
Investment Range: USD 100K – USD 10M
Straight from Das Capital SG: Das Capital is an investment fund operated by Japanese serial entrepreneur/investor Shinji Kimura. Das Capital is an umbrella fund to various investment strategies. At its core Das Capital focuses on venture capital investment, mostly early stage. At later stage there is Gunosy Capital. It also has HarbourFront Capital which mostly invests in asset-backed finances.
Connect with them

AngelCentral
Stages: Seed, Series A
Verticals: All
Investment Range: Not Specified
Straight from AngelCentral: AngelCentral is one of the fastest-growing community of angel investors in Southeast Asia. We organise regular curated pitch sessions, angel education workshops and provide syndication services.
Connect with them

InnoStart Capital
Stages: Seed, Series A, Private Equity
Verticals: All
Investment Range: USD 10K – USD 500K
Straight from InnoStart Capital: InnoStart Capital is a family office that invests in small to medium-sized businesses. We are a financial investor with a partnership approach to building constructive and supportive relationships with owners and management teams.
Connect with them

StarFab
Stages: Series A, Private Equity
Verticals: Agritech, Big Data, Hardware, Internet of Things, Manufacturing, Robotics, Smart Cities
Investment Range: Not Specified
Straight from StarFab was founded in 2016 with the realization that a startup requires more than just an innovative product and funding to successfully establish its position in today’s competitive and fast-paced market. We see ourselves as partners of innovation, helping entrepreneurs gain a footing with large enterprises and enterprises to collaborate with startups to provide added-value for their customers.
Connect with them

Watch out for more announcements of new verified investors (yes, there is more!). If you’re an investor and looking to get verified, find out how here.

– –

Photo by fauxels from Pexels

The post Meet these 10 verified investors that are ready to connect with you appeared first on e27.

As institutions built on public service and the promotion of common good, governments should be some of the first to step up when it comes to innovation and disruptive solutions. This way, they become not only end-users of advanced technology but proponents and catalysts that pave the way for the co-creation of such innovations.

With the power of digitalisation, governments can streamline their efforts, help provide services faster and more efficiently, and be able to help out even the most remote communities. All these things are necessary if we are to address the evolving challenges of the future. Moreover, as problems become increasingly complex, we have to develop solutions that cater to issues of the past, present, and future. As such, the Ministry of Science, Technology, and Innovation (MOSTI) in Malaysia is always on the lookout for new and innovative ideas, solutions, platforms, and scientific discovery that will benefit Malaysians.

Last year, the ministry doubled down on its efforts to promote technology and digitalisation as a bedrock for innovative solutions with the launch of MYHackathon 2020. Through Cradle Fund Sdn Bhd (Cradle), MOSTI organised a nationwide series of hackathons in the past year, each one driven by a specific theme and its own set of problem statements. One of the best features of the MYHackathon 2020 is that they were designed specifically as a hybrid of online and offline events, allowing more participants to join, all while accommodating everyone’s safety and security during these precarious times.

As a culmination of this project, the MYHackathon Finale and Showcase 2020 is going live today, January 26, on their official page.

Also read: Meet these 10 verified investors that are ready to connect with you

Attended by Science, Technology and Innovation Minister YB Khairy Jamaluddin, this dynamic virtual event features keynote sessions, experts panel discussions, and short interviews as well as access to MYHackathon 2020 ecosystem including the winners, coaches, partners, and judges. As a bonus, there is an exclusive engagement session set up for the winners with YB Khairy for them to get first-hand information and updates on the technopreneurs and technology industry. Winners also have the opportunity to pitch their ideas to a group of investors curated for the event.

The goal of MYHackathon 2020 is to bring together innovators, software engineers, subject matter experts, and concerned Malaysians, to co-create digital solutions that will help improve the government’s services as well as the delivery of those services. With this mission in mind, the project was able to co-create over 400 solutions, under the guidance of over 150 mentors and coaches, as judged by over 120 judges, yielding a total of 36 winners.

MYHackathon 2020 themes and challenges

The project started in October 2020 and was held virtually available nationwide in six different key locations around Malaysia, and provided six unique themes for the participants to help hack.

The first theme is called Prihatin Rakyat — a challenge that focuses on developing digital solutions that can provide immediate assistance to the needy, the challenged, the urban poor, and senior citizens. Rakyat Sihat Sejahtera, the second theme, focused on developing digital solutions that can enhance the service level of the public healthcare sector and to promote a culture of wellness. The third theme, Ilmu Pelita Hidup, centred on enhancing the education system and quality via digital medium/channels and enhancing capacity building and welfare for educators.

Also read: XNode to launch cross-border acceleration programme in Shenzhen

Meanwhile, the other three themes, namely Bina Negara, Inovasi Asas Pembangunan, and Rakyat Produktif, each focused on developing digital solutions that seek to enhance infrastructure development programmes, driving economic growth, and improving national productivity respectively.

Each theme focuses on key sectors that collectively encompass various interest points of the larger Malaysian population. Solutions developed concerning these particular areas are expected to help improve the overall quality of life among Malaysians in the long-term.

Diverse solutions for diverse problems

Winners of the MYHackathon 2020 offer a range of solutions to different pressing problems faced by the community. The project was able to yield 36 winners spanning across multiple verticals and areas of digital innovation.

The winners of the KL roster include FortNynja, a company that provides a cradle-to-grave solution designed to accelerate the implementation of a nation-wide government identity platform, allowing different access levels for users accessing government digital citizen services. Meanwhile, winners from the other different Hackathon legs include BukuPINK from Deux Alpha Tech Sdn Bdh, the ultimate solution for antenatal and paediatric record tracking, CINTA (“Continuous Improvement in Teaching” App) from Pandai Education, an app that engages teachers with micro-lessons called capsules that provide daily CPD, and HAVVA, whose focus is on solving food security and food safety issues via urban farming using their technology.

These are only some of the brilliant co-created solutions that were yielded by the programme’s participating teams.

Witness the MYHackathon 2020 Finale & Showcase

Given all these amazing and innovative solutions, the team behind the project would like to open its doors to the public. With the MYHackthon 2020 Finale & Showcase going live today, January 26, audiences from around the world can tune in and witness some of the most exciting new technologies that are poised to serve as a springboard for Malaysia’s digital future.

With MOSTI and Cradle at the forefront of this project, the MYHackathon 2020 Finale & Showcase will feature the winners along with keynotes and panel talks on future technology and insights. Through this, audiences will be able to learn from some of the best and the brightest as they share key trends and insights on some of the most important topics of today.

Also read: Singaporean entrepreneur: bringing the Asian internet business model to Central America

Some of the experts and industry leaders who are poised to share their thoughts and experiences on different matters include Dato Dr Siti Hamisah Tapsir, KSU — Ministry of Science, Technology, & Innovation, Puan Rafiza Ghazali, Group CEO at Cradle Fund, Ashran Ghazi, CEO at Dattel, and Dr Roslan Bakri Zakaria, Co-founder and CEO of Random Collectives.

These are only a few of the topnotch speakers who will be gracing the stage to discuss key topics and trends concerning innovation and technology.

About Cradle

Cradle is Malaysia’s early stage start-up influencer, incorporated under the Ministry of Finance Malaysia (MOF) in 2003 with the mandate to fund potential and high-calibre tech start-ups through its Cradle Investment Programme (CIP).

Cradle is presently administered by the Ministry of Science, Technology, and Innovation (MOSTI). Cradle also runs the Coach & Grow Programme (CGP), a market-driven coaching programme that trains entrepreneurs and administers the Angel Tax Incentive programme which is designed to stimulate and encourage angel investments in support of the tech startup sector.

– –

This article is produced by the e27 team, sponsored by 
Cradle

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post Witness Malaysia’s newest digital solutions at the MYHackathon 2020 Finale & Showcase appeared first on e27.