Day: October 14, 2021

Bumiputera entrepreneurs, here’s how you can upskill & win up to RM500K grants via TERAJU

[This is a sponsored article with TERAJU.]

The potential that startup companies have are huge. On a global scale, the value of startups reaches US$3 trillion, equivalent to the Gross Domestic Product (GDP) of the G7 economies.  

Did you know: The Group of Seven (G7) is an intergovernmental organisation made up of developed economies in France, Germany, Italy, Japan, the US, the UK, and Canada. Government leaders of these countries meet periodically to address international economic and monetary issues, with each member taking over the presidency on a rotating basis.

Investopedia

In Malaysia, the growth of startups has had a positive impact on the country’s economy, creating new job opportunities and contributing to the country’s GDP. In fact, Malaysia scored a perfect 10 in terms of performance and market reach in the Global Start-Up Ecosystem Report 2020. 

That’s all according to Md Silmi Abd Rahman, CEO of the Unit Peneraju Agenda Bumiputera (TERAJU). It’s a strategic unit established in 2011 under the Prime Minister’s Department to lead, drive, and coordinate Bumiputera participation in the national economy. 

To build up more Bumiputera entrepreneurs and startups, TERAJU has once again opened sign ups for its Skim Usahawan Permulaan Bumiputera (SUPERB 2021) on its website. Launched in 2014, SUPERB has successfully produced 208 Bumiputera entrepreneurs and assisted the winners to realise their ideas and businesses at a higher level.

SUPERB is now in its 16th series and is looking for young Bumiputera entrepreneurs between the ages of 21 to 40 for their pitching competition with an enhanced accelerator programme.

On top of providing the winning ideas with a grant of up to RM500,000, SUPERB 2021 will also include a broader-focused intensive accelerator training segment. 

Seeking young entrepreneurs and startups

The programme is open to Bumiputera entrepreneurs and startups that have been operational for less than 3 years. 

To qualify, participants must have innovative and creative ideas or products that are in line with TERAJU’s set theme following this year’s Key Economic Growth Areas (KEGA). It’s based on the Shared Prosperity Vision 2030 and embedded in the Bumiputera development framework developed by the strategic unit for the next 10 years.

SUPERB’s 10 KEGA categories this year include solutions surrounding:

• The digital economy, 
• Islamic finance, 
• Tourism, 
• Manufacturing, 
• Halal and food, 
• Agriculture and commodities, 
• Defense and security, 
• Modular construction, 
• Aerospace, and
• Logistics, transportation, and sustainable mobility.

These selected sectors were identified as future economic activities that demonstrate the potential for rapid growth, in line with the country’s aspiration to achieve high value economic development. 

With these sectors in place, the government’s efforts to boost economic growth will be implemented, thus developing an ecosystem throughout the supply chain. 

Submissions will be screened based on criteria involving the idea’s execution capabilities, the business’s impact, growth potential, and sustainability, along with the proposed use of funds provided, etc. 

Providing guidance to grow

Once submissions have been shortlisted, participants will be split into 2 groups to begin a 6-week accelerator bootcamp in November 2021.

The accelerator programme will ensure that participants are able to understand the continuity of their business ideas. It includes guiding participants through the process of starting a business, management skills, expanding their business’s network, and stabilising their business for the future. 

An example of a topic that will be available in the programme is getting participants to undergo business modelling activities. This would help participants learn about value proposition and growth strategies for their businesses. 

Participants will also learn to identify critical business and financial metrics, while being exposed to the possibility of bootstrapping, the significance of branding, and getting a better understanding of regional market opportunities.

SUPERB 2021’s accelerator programme comes after TERAJU took into account feedback from jurors in previous pitching sessions that shared weaknesses in participants’ basic business knowledge, other than their pitching techniques.

It’s why the new 6-week programme will also cover business fundamentals from the idea creation stage up until their businesses become successful. Participants will further get to leverage the various existing programs and business ecosystems under TERAJU. 

After the training, participants will pitch to a professional jury panel consisting of a group of entrepreneurs and agency representatives. This is where the winners of SUPERB 2021 will be chosen, but the journey of growth doesn’t end there.

What awaits the winners next is an intensive traction programme spanning 6 months. There, they will learn about marketing, database building, product launching, and sales to elevate the feasibility of their ventures. 

At the same time, coaching, mentoring, sharing and networking sessions will continue to be organised to improve business acumen. 

But win or lose, TERAJU is confident that all participants of the SUPERB 2021 accelerator programme will still benefit and become entrepreneurs with more integrity, innovation, and resilience.

“Our ultimate goal is to produce the next generation of entrepreneurs who have integrity, dignity and are able to work together to elevate the development of the country,” concluded Md Silmi Abd Rahman.

• Applications for SUPERB 2021 are open from now until October 17, sign up here.
• You can read other articles we’ve written about Malaysian startups here.

Also Read: Laptop subscription services exist, but this M’sian company added on software and IT support

Featured Image Credit: TERAJU

This M’sian pandemic-born biz for crab deliveries is already making a 6-digit revenue/month

Though I’m allergic to seafood, it’s never been something I’m strict about as the enjoyment I get from eating crabs, clams, prawns, and the like are all worth the mild side effects to me. Plus, the opportunity to indulge in such delicacies comes by rarely, perhaps once annually over reunion dinners on Chinese New Year.

But that’s not the case for 3 entrepreneurial friends in their 20s: Scott, Lynnneve, and Justin. Being close friends who indulge their mutual love for seafood more frequently, they realised that crabs sold in restaurants tend to be overpriced. 

With a vision to provide customers with good quality crabs at a more affordable price point, they each invested RM2,000 as capital to launch TalkCrab. It’s an Instagram-based business delivering fresh and cooked crabs to customers in Malaysia.

Justin has since left TalkCrab, and the business is now run by its 2 remaining co-founders, Scott and Lynnneve. If their names sound familiar to you, it’s because they were also behind lunárr, a healthy mooncake business to leverage the Mid-Autumn Festival in August.

Fishing in an ocean of knowledge

Before TalkCrab’s launch in October 2020, the team first had to source crab suppliers and turned to Facebook and Google as a starting point. They then asked around for crab supplier contacts from friends and family, the latter of who also run their own F&B ventures.

The team’s inexperience with crabs came as a huge hurdle in the beginning. In an interview with Vulcan Post, they shared that the suppliers were not keen on sharing their knowledge about picking the best crabs as it would threaten their business.

This is because not all crabs caught at sea are of good quality. When some suppliers sell them, they’d mix the bad crabs with good ones to be sold off in large batches.

“If everyone knew how to source good crabs, suppliers would face difficulties selling off the bad crabs,” Scott added. So, the team had to rely on their own research and visitations to multiple suppliers to physically feel each crab while comparing their qualities against different suppliers.

The mortality rates of crabs came as another struggle to the team. Crabs are only killed when TalkCrab receives orders from customers to maintain their freshness. That means that Scott and Lynnneve must keep these crabs alive upon receiving their supply from Indonesia.

With the high mortality rates of the crabs, they initially suffered huge losses as well, which was what led one of their founding members to leave the team.

“We weren’t earning much even though our selling price was at least RM100+. Our cost price is high and every dead crab is a loss for us,” Scott told Vulcan Post. “We also invested a lot of our profit to marketing agencies to manage our ads, design, and create posts for us. We need a high sales turnover in order to cover all our expenses.”

Filling up the delivery space

While there are plenty of seafood delivery services in the market today since the pandemic hit, Scott shared that this wasn’t the case last year, especially for businesses delivering crabs.

“During the lockdown, not many seafood restaurants set up their delivery platform yet and we were one of the first few that saw the potential in this industry. Although seafood restaurants are more experienced in F&B than us, they are new to the digital world,” he observed. 

Already being social media savvy, it gave Scott and Lynnneve an advantage over the more traditional seafood restaurants.

Despite being a small brand competing with bigger-name seafood restaurants in the market, the team focuses heavily on branding themselves as a premium crab provider in the market. 

For instance, instead of merely calling themselves a “crab delivery service”, they describe TalkCrab on Instagram as a “neighbourhood crustacean concierge”. On top of that, products are delivered in TalkCrab’s customised paper bags which the team hopes would create a perception of quality to their consumers. 

The business also partners with social media influencers to help spread the word about TalkCrab, extending its reach to its target audience.

Weighing your options

In terms of TalkCrab’s affordability, its set menu comprising meat and roe crabs (which have smaller claws but more crab caviar) are generally priced between RM138 to RM338. 

For example, one of TalkCrab’s offerings involves a set priced at RM148 which has 2 pieces of 400g meat crabs along with 6 pieces of mantou (deep-fried buns) to dip in your choice of sauce. In addition, customers could also add on their choice of 2 sides including clams, cuttlefish, tiger prawns, and mussels. 

While its team claims to offer prices that are slightly lower than restaurants, this is hard to verify. The cost of crabs—or seafood in general—can change as they are subjected to daily catches and the restaurant’s availability of supply.

To add, it’s almost impossible to find the exact same listings when comparing crab offerings from various restaurants. 

On GrabFood, Fei Fei Crab has a set for RM135.68, containing 4 pieces of 200g crabs with no sides. Lala Chong Seafood Restaurant offered single-piece 600g crabs for prices between RM100.70 to RM106, depending on your choice of sauce with no sides either.

It’s a small sample amidst the many more competitors out there, but these are the brands stating their prices that we could find. They also had listings that came the closest to TalkCrab’s RM148 set mentioned above.

The comparisons here are by no means definitive, as they still vary in offerings and contain different breeds of crabs which may affect its quality and meat-to-shell ratio as well. 

At the end of the day, TalkCrab’s products could appear more worth it by brief comparison, as their crabs are often paired with other sides that would make the meal feel more whole.

Dreaming of a TalkCrab restaurant 

Now a year into the business, things seem to be looking up for the team after their initial hurdles. Scott reported that TalkCrab is generating a 6-figure revenue per month.

With an 8-person team including in-house chefs, TalkCrab’s operations have moved out of their homes into a commercial shop lot to expand kitchen operations. 

Scott and Lynnneve also have plans to open up a restaurant in the future while still maintaining TalkCrab’s delivery business. But first, in the nearer future, they will be adding more varieties of seafood onto their menu.

• You can learn more about TalkCrab here.
• You can read about more Malaysian F&B brands we’ve covered here.

Also Read: A spotlight on 3M’s under-sink water filter, built from their 80+ years of expertise

Featured Image Credit: Scott and Lynnneve, co-founders of TalkCrab

Consider the Galaxy Buds2 if you’ve been eyeing the Buds Pro but have a smaller budget

Samsung has released its smallest and lightest true wireless earbuds yet, which were revealed during the launch of its new foldable phones. The Galaxy Buds2 weigh just 5g each and when worn in the ears can be barely noticeable, though this wasn’t applicable to my small ears.

I’d never been a fan of in-ear earbuds as I found them uncomfortable, but I am slowly coming around to accept them. Plus, I’ve had decent to good experiences with previous models from other brands too. So, I was more than happy to give the Buds2 a spin.

Tiny lil bulbs

The pretty lavender set of Buds2 that I received came in its case that’s similar in shape and size to the Buds Pro and Buds Live. Its jewellery box style case nicely fits in my pockets and supports wireless charging, with an LED to display its battery status on the front.

With enough practice, opening and closing it with one hand is possible and I liked that the case closes with a nice “thunk” instead of the usual plasticky sounding “clicks” from other earbuds I’ve tried.

While the glossy white case on the outside looked rather cheap to me, its matte interior was more premium looking and matches the colour of Buds2 you choose, whether in white, graphite (dark grey), olive, or lavender. 

The Buds2 has a similar bulb shape to the Buds Pro, but with a glossy finish which made it quite slippery and prone to falling out of my fingers. But hey, I’m generally a clumsy person in the first place, so it may be a personal shortcoming.

To ensure it stayed secure in my ears, I switched out the silicone ear tips for the smallest size offered. I wasn’t given much choice here though, because Samsung doesn’t provide as many ear tip sizes as brands like Sudio do, for example, and even the smallest size wasn’t that much of a difference from the default ones attached.

I still felt like the Buds2 weren’t sitting deep or securely enough in my ear canals, but I was able to test their fit through the Galaxy Wearables app. After a few adjustments, it assured me that I was wearing them just fine.

Because I’m already using a Samsung phone, pairing the Buds2 was seamless, and the app was where I got to learn more about the earbuds’ touch controls which are as follows:

• Single tap – play or pause tracks;
• Double tap – play the next track;
• Triple tap – play the previous track;
• Touch and hold left earbud – switch on ANC (active noise cancelling);
• Touch and hold right earbud – switch on ambient sound.

One pro for me about the Buds2’s touch controls is that they give off a soft beep that tells me I’ve touched them and that they have registered my intended control, just like the Buds+ does.

Via Galaxy Wearables, I could also update the earbuds, switch between different EQs (equalisations) for my music, find my earbuds, and view the Buds2’s battery status.

Samsung claims that the Buds2 will run for up to 5 hours of continuous playback with ANC enabled. When paired with breaks inside its charging case, this number goes up to 20 hours. Turning off noise cancellation will extend it to 7.5 hours, or 29 hours including the case. 

I can say that since receiving the Buds2 at full battery about 2 weeks ago, I’ve been casually using them quite consistently and have yet to charge the case.

Listening in

To get the best sound quality from the Buds2, I found that I had to push the earbuds quite deep into my ears, which was less comfortable due to the larger silicone tip sizes.

But once I had them in securely, I could jump around and jerk my head from side to side without them falling out. 

So far, I’ve reviewed the Jabra Elite 3 and Sudio Nio wireless earphones, and in terms of sound, I would say that the Buds2 sit in second place.

They can’t beat the Elite 3, but they’re slightly more well balanced than the Sudio Nio and have better ANC abilities. However, the Buds2 sound a little too soft for my liking.

I can’t quite put my finger on it, but the way I can describe it is that they sound slightly far away, like the music is emerging from a different room.

Pushing them further into my ears, while uncomfortable, would fix this issue. I also found that the best way for my music to sound clearer and punchier was by setting the EQ to Dynamic on the app.

I don’t demand much from my earbuds really; as long as they sound clear and well balanced for my pop and musical theatre genres, it’s usually enough for me, and the Buds2 satisfied this.

Noise cancellation on the Buds2 was pretty great. While I’m not someone who particularly likes ANC as I like being aware of my surroundings, it did help drown out the drilling and construction coming from my neighbours.

There’s also no auto-pause on the Buds2 when you remove an earbud. But one sensible addition Samsung included was that ANC will automatically be disabled once you remove an earbud, and will be enabled again when you put it back in your ear. 

It does seem a little odd to me that the brand didn’t include an auto-pause but chose an auto-disabling function for ANC instead. Perhaps Samsung has different ideas for how wireless earbuds can be innovated.

Verdict

The Buds2 produce some decent sounding audio with an aesthetically pleasing design. If there was something off to point out, it would be the ambient sounds produced by the Buds2 which sounded awfully artificial, so I was happy to settle with just turning ANC off completely.

Receiving calls on the earbuds gave me a convenient hands-free experience as well, where my caller sounded clear to me, and they reported the same on their end. 

Its battery life of 5 hours continuous playtime with ANC enabled would get most people through the more productive hours of the day as well, which is great for a reliable pair of earbuds priced at RM499.

However, I personally wouldn’t be reaching for the pair as my default earbuds because of the discomfort I faced with them. Wearing them too tightly in my ears for more than an hour would cause a dull ache that I just can’t seem to shake. If worn any looser, my music would sound “tinny” and distant.

Of course, this is just personal preference, as the few other people I’ve asked to test out for me have reported no issues with the ear tips’ fit.

• Learn more about Samsung Galaxy Buds2 here.
• You can read more of our VP Verdict series here.

VP Verdict is a series where we personally try and test out products, services, fads, and apps. Want to suggest something else for us to try? Leave a comment here or send the suggestion to our Facebook page.

Also Read: Laptop subscription services exist, but this M’sian company added on software and IT support

Electricity retailer iSwitch to cease operations on Nov 11, users will auto-port to SP Group

Singapore’s largest green electricity retailer, iSwitch Energy, announced to its users today that it would cease operations on 11 November 2021 citing “current electricity market conditions”.

This news comes just a few days after Trade and Industry Minister Gan Kim Yong advised households in Singapore to conserve electricity as costs are set to rise given the doubling of fuel prices.

“Over the past six years, iSwitch Energy has had the privilege of serving the Singapore Electricity Market and collectively saving consumers over S$150 million on their energy bills against the SP Tariff,” said iSwitch.

On their company website, iSwitch mentioned that current customers would be transferred to SP Group from 12 November 2021. However, customers that would like to switch over to another retailer before the transfer can still do so anytime.

It stressed that there will be no disruption to the customer’s electricity supply, and it is working closely with the Energy Market Authority and SP Group to ensure a smooth transfer.

On the company’s FAQ page, iSwitch also mentioned that the customer’s security deposit would be used to offset the final bill.

iSwitch had plans to venture into the EV space

As a company committed to green energy, iSwitch was the first to offer 100 per cent carbon neutral electricity to both commercial and residential customers.

It’s also no surprise that iSwitch was invested in the electric vehicles (EV) space. Earlier in April, it announced that it is acquiring up to 12 existing EV charging stations from Finnish tech firm PlugIT.

Following the acquisition, iSwitch said that it will be offering EV charger installation services to its existing portfolio of over 50 MCSTs (which refers to the managing body of a strata-titled property such as a condominium), 10 shopping centres, 600 car parks and 8,000 landed residential properties.

The retailer had expressed its commitment to offset 100 per cent of all electricity used for charging by purchasing United Nations Verified Carbon Units as part of its green ambition.

With 60,000 charging points expected to be installed nationwide by 2030, iSwitch was well-placed to contribute to the government’s EV ambition by deploying thousands of units across its existing electricity retail portfolio of condominiums and commercial sites.

It’s also worthy to note that this is not the first exit for electricity retailers in Singapore.

In June 2019, green electricity retailer ES Power transferred all of its business and residential consumers – amounting to more than S$15 million in electricity retail contracts – to iSwitch due to stiff competition in the local market. 

Red Dot Power, another energy provider, also announced its exit from the market in the same year. 

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: iSwitch

Also Read: GST will be raised to 9% by 2025, S’poreans urged to save electricity amid rising costs

RedMart invests almost S$100M in new fulfilment centre to meet rising online grocery demand

As a pioneer of online grocery delivery services, RedMart has fed the nation and catered to our ever-changing consumer tastes, substantially increased its product range, satisfying international palates, and supported local producers and farmers in Singapore.

The online grocer announced today (October 14) that it has launched a new West Fulfilment Centre (WFC), equipped with state-of-the-art automation technology to cater to the future grocery needs of Singaporeans.

Spanning 350,000 sq ft, it comprises six purpose-built systems that coordinate to fulfil orders daily. The management of the system and products can be easily managed by six RedMart staff, instead of the dozens needed to do the same work manually.

According to the company, the new 24/7 fulfilment centre will more than doubles RedMart’s capacity as online grocery sales take centrestage amid the pandemic.

Advanced automation at RedMart’s West Fulfilment Centre

This state-of-the-art centre has two advance automated systems. The first is Pick To Light (PTL), one of the foundations of RedMart’s unbroken cold chains that keep products fresh.

The PTL automates the selection and sorting of frozen, cold and fresh produce, enabling a multi-shuttle system to circumnavigate the cold facility as packers efficiently fulfil tens of thousands of orders. This reduces human error and physical contact, while maintaining the freshness of RedMart’s most sensitive products.

As an added level of expertise, this process is led by a team of highly-trained fresh produce experts.

The second is the Goods To Person Picking (GTP) system. The advanced GTP automated storage and retrieval system forms the backbone of the new fulfilment centre, where over 48,000 products can be sorted, stored and retrieved automatically to fulfil customer orders.

With all these new measures in place, RedMart can assist in reducing food waste at the source with the use of machine learning for precise demand forecasting and significantly reduces touchpoints between humans and grocery products. This is especially important for delicate fresh produce and in today’s pandemic situation.

Furthermore, by optimising workflows with a combination of human supervision and automation, the larger facility allows more orders to be filled while reducing human error and maintaining the same manpower headcount as before.

The introduction of automated systems in our new fulfilment centre was timed to meet the anticipated demand for online groceries in Singapore in the next few years, but that has been realised sooner than expected as a result of the pandemic. This investment is sure to keep RedMart at the forefront of Singapore’s grocery sector for years to come

Gerald Glauerdt, RedMart’s Chief Logistics Officer

A growing trend of online grocery shopping

All of these new innovative measures have enabled RedMart to match the growing demand for grocery delivery to Singapore households.

According to an international grocery research organisation, IGD, the value of Singapore’s online grocery market grew three-fold from S$130 million in 2017 to over S$500 million in 2020. This growth shows no sign of slowing, and is expected to grow by a further 35 per cent by 2022.

No one can forget the panic buying back in 2020. If you were one of the savvy ones that used RedMart’s service, you’d remember how fuss-free it was. During that time, RedMart assisted in food security measures and bolstered its operations to cater to four-fold growth in grocery sales.

“From the days of physically visiting wet markets and supermarkets for groceries and lugging them home, the weekly routine of grocery shopping has become much more accessible and inclusive with the advent of online grocery services like RedMart”, said Richard Ruddy, Lazada’s Chief Retail Officer and Head of Groceries.

The way we shop for our groceries has indeed shifted in the last decade, with Covid-19 as one of the main driving factors. As we shift towards a COVID-endemic world, RedMart too will shift accordingly with evolving delivery options to meet the customers’ needs and the call for sustainable practices.

“With just a few simple clicks, shoppers can shop for the goods they need, saving customers both time and money, and to taste the world from the comfort and safety of home. The world is now truly at one’s fingertips”, remarked Richard.

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: RedMart Singapore

Also Read: 3D-printed swabs to disinfectant robots: How these 9 S’pore firms are helping to fight Covid-19

Kadokawa Gempak Starz makes NFTs accessible to M’sian comic fans with RM10.10 card packs

[Written in partnership with Pixaworks, but the editorial team had full control over the content.]

Malaysian comic publisher Kadokawa Gempak Starz (KGS) is now joining the non-fungible tokens (NFT) movement by introducing its Gengkey NFT collection.

For the current series, KGS has launched 20 card designs from its total of 100 planned designs, all featuring characters from their popular Gengkey comics.

Each pack will include 5 collectible cards, 4 of which will have static designs and 1 with a rare or super rare animated design.

At the moment, only 1,010 card packs have been released for RM10.10 each, and KGS plans to release 4 more batches soon. Upon purchase, buyers will receive a serial number and serial key via email.

In order for buyers to redeem the NFT card pack(s), KGS is working with TRART, an international platform that converts physical artworks into digital assets for collectors to purchase with TRART coin. Essentially, it’s an NFT marketplace.

Boosting the value of IPs

KGS was originally established as Art Square Creation in 1994 and is known for its publication of Gempak, an info-comic magazine that showcased local comic artists and shared news about the global animation, comics, and games (ACG) industry.

In 2015, the company was acquired by Japanese media conglomerate Kadokawa Corporation and was thus rebranded to KGS in 2016.

Meanwhile, TRART is a new venture launched by INCH SKY, a game-based and technology-based solutions provider in Malaysia.

TRART is currently connected to the Flowchain blockchain, and states that it aims to connect to the Ethereum and WAX blockchains in the near future.

Tapping into the NFT ecosystem is one way KGS hopes to diversify its products. In an interview with Vulcan Post, the company shared, “We want more people to eventually own our assets and the digital world will be the future for the new generation.”

“As more people get to know our intellectual properties (IPs) and own them, we hope to leverage our IPs’ value via NFTs, and eventually, this will increase the value of each IP too.”

In the pipeline for more NFT collections by KGS include audio, video clips, games, and collaboration works, to name a few. For these NFTs, KGS is targeting its fans who grew up with the comics, art collectors, and investors.

Buyers purchasing the first batch of card packs here can redeem their NFTs by heading to TRART, signing in or creating an account, clicking on the redemption button, and keying in their serial number and serial key.

Once that’s done, purchases can be checked under “Packs” and the NFT card pack can be unpacked. To view all of one’s cards, simply click on “Collection”, and to view all other cards available, click on “Gallery”.

NFTs in brief

An NFT is a form of crypto asset that uses blockchain, a digital public ledger of transactions, to record ownership details and provide proof of authenticity.

What sets NFTs apart from other digital creations is that NFTs have unique identifying codes, making them one-of-a-kind and thus limited edition.

This means that one can claim ownership (but not necessarily the copyright) over an original digital asset (be it an image, video, artwork, audio clip, etc.) to keep or sell, as opposed to simply saving or downloading copies of the asset.

The NFT movement has been picking up in Malaysia after it first blew up overseas in March 2021. Now, Malaysia boasts local NFT artists too, with some names including Katun, Red Hong Yi, Ronald Ong, and more.

Its popularity could be attributed to how NFTs can be an extremely lucrative project for artists, as was seen with Katun’s sale of 2 of his NFT collections for about RM1.6 million in just 24 hours.

With more players taking notice of NFT’s potential, we’ve had the launch of Pentas.io, a Malaysian NFT marketplace, and local app development firm Agmo Studio also appears to be creating its own NFT marketplace too.

These will serve to boost the visibility of Malaysian artists and their works across the globe, and this benefit is one reason why many crypto enthusiasts see NFTs as the future of digital art.

• You can learn more about the Gengkey NFT collection here.
• You can read more crypto-related content here.

Also Read: A spotlight on 3M’s under-sink water filter, built from their 80+ years of expertise

Featured Image Credit: Kadokawa Gempak Starz

S’pore startup Pickupp raises US$20M to fuel Asia expansion and launch satellite warehouses

Homegrown logistic tech startup Pickupp announced today (October 14) that it has secured additional investments from Reefknot, a joint venture backed by Temasek Holdings and Kuethne + Nagel.

This brings the total value of its series A and A+ funding to approximately US$20 million.

Pickupp’s series A+ round funding was concluded in July 2021, led by Taiwan e-commerce giant PChome and Cornerstone Ventures, with participation from existing investor Swire Properties, as well as new investors such as Cathay Venture Inc., DRIVE Catalyst (the corporate venture arm of Far Eastern Group) from Taiwan, the Jardine Matheson Group, and Zipx from Hong Kong.

With the additional injection of funds, Pickupp seeks to strengthen its operational efficiency to accommodate the growing use of online-to-offline (O2O) services in multiple markets that it’s present in.

Founded in 2016, Pickupp has operations in Hong Kong, Singapore, Malaysia and Taiwan, providing logistics support to over 20,000 businesses.

Pickupp will also use the funds to strengthen its dispatch network with the expansion of new satellite warehouses across different markets. It will go on to further support innovation and developments in Pickupp’s technology to better meet the evolving demand for last-mile deliveries.

“The e-commerce and last-mile delivery landscape is growing at a fast pace in Singapore, with sales from year-end promotions and delivery orders expected to reach record highs in the coming months,” said Lee Chee Meng, co-chief operating officer at Pickupp Singapore.

“We pride ourselves as an innovative logistics technology company, and with the support of our investors, we aim to further the momentum in improving our technology and offerings in the coming years. We also will continue to invest in the welfare of our delivery partners for them to grow in a productive and conducive environment at Pickupp.”

10 new satellite warehouses will be built in Singapore

Pickupp will welcome at least 10 new satellite warehouses across heartland areas in Singapore within the next six months.

The introduction of these new dispatch points aligns with Pickupp’s push to increase its walker delivery agent pool to improve the efficiency of deliveries during peak traffic hours and decarbonise its operations with sustainable deliveries.

Chee Meng cites heavy road traffic and carbon emissions as today’s major challenges in the logistics industry. The spike in e-commerce and delivery orders will only worsen the conditions if it’s not addressed.

“Sustainability is a long-term goal of ours, and we aim to achieve net-zero operations in the years to come. Therefore, we are taking on a unique approach to tackle these challenges by building and improving our walker network,” he added.

To fulfil the changing delivery needs, Pickupp will be launching its new self-drop off service, which features next-day deliveries with no minimum order at affordable rates. As such, small businesses, online marketplace users, and individuals can benefit from a wider range of options, as well as greater flexibility and convenience.

They can simply create an order, drop off their parcel at any of Pickupp’s dispatch points, and enjoy Pickupp’s next day delivery service with real-time GPS tracking.

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: Pickupp

Also Read: Why Logistics Startup Pickupp Built An E-commerce Arm To Support Home-Based Bizs In S’pore

3D-printed swabs to disinfectant robots: How these 9 S’pore firms are helping to fight Covid-19

The onset of Covid-19 has rocked healthcare systems worldwide and left governments all over the world scrambling to combat the pandemic. It’s been tough, and there is still a long road ahead of us. If there is any positive outcome out of this, it is how it served as a catalyst for innovation, especially for the medical technology (MedTech) sector.

In light of celebrating the wins from all the losses we have incurred from the pandemic, here is a list of homegrown MedTech innovations that have helped to fight the good fight against Covid-19:

1. Fortitude test kit by MiRXES

MiRXES is a homegrown biotechnology company co-founded by Dr Zhou Lihan in 2014. The company has recently raised US$77 million in a Series C round in June to speed research into cancer detection tests. 

The team of scientists and entrepreneurs also developed a new multi-virus test kit that can detect both Covid-19 and the seasonal flu.

Building on the existing Fortitude Kit, which tests only for Covid-19, this new kit has additional polymerase chain reaction (PCR) primers — short genetic sequences — designed to detect influenza A and B.

The test uses PCR to look for viruses that cause either Covid-19 or the flu and gives two readouts. Since patients with Covid-19 or flu exhibit similar symptoms, it can be difficult for healthcare professionals to differentiate between the two.

These kits will assist healthcare professionals in making a more accurate and timely diagnosis.

Since February last year, more than five million Fortitude Kit tests have been sold locally and globally. The kits have been deployed in 13 local hospitals and labs and exported to more than 40 countries worldwide, including the United States.

2. iThermo by KroniKare

Temperature screening is all part of the new normal that comes with the Covid-19. Temperature screening needs to be fast and accurate. After all, no one likes a bottleneck on the way to the mall. The AI-powered iThermo speeds up temperature screening by five times.

KroniKare is a healthcare startup behind iThermo. Based on Kronikare’s Wound Scanner, the startup co-created this solution through a public-private collaboration in just two weeks. The firm worked with Singapore’s Integrated Health Information System (IHiS) and national accelerator AI Singapore to scale, validate and obtain deployment approval.

The best part: the iThermo is cheaper and more portable than airport screeners. It is a compact device that measures 25cm by 12cm by 5cm and features a smartphone camera, a thermal camera, and a laser camera, which can be mounted on a stand.

Weighing only 650g, the iThermo can be easily deployed at entrances of places like office buildings and shopping malls.

3. Accredify START app by Accredify

It seems the applications of blockchain are endless. Local startup Accredify has devised the Accredify START app in addition to the Digital Health Passport they created.

The Accredify START app is a blockchain-based mobile app that allows users to conveniently access and store digital Covid-19 test results.

One of the biggest problems of self-tests is there is no way to validate results. This new app records and verifies results for at-home self-test kits.

The Accredify START app allows others to authenticate a self-test result instantly. The process is quite simple — all you have to do is drag and drop the health records onto a verifier or scan a QR code of the test result.

The app even guides users on conducting the self-test, recording the results, and sharing them.

It also features a timer for the test’s incubation period, so users don’t check their results too early and end up with an inconclusive test.

The Accredify START app is particularly useful as employees bring staff back to offices on a larger scale. The app combines the national digital ID system SingPass to provide a secure login method. This way, employers can get a ‘bird’s eye view’ of all of their employees’ health statuses.

4. C-pass by Duke NUS-Medical School

When it comes to Covid-19 testing, time is of the essence. cPass is the world’s first rapid serology test kit to detect antibodies and diagnose even recovered patients within an hour.

Duke-NUS Medical School initially invented this test kit. The team co-developed and manufactured the kit with GenScript Biotech Corporation and the Agency for Science, Technology and Research’s Diagnostics Development Hub.

The cPass is the first SARS-CoV-2 surrogate virus neutralisation test (sVNT) kit capable of measuring functional neutralising antibodies (NAbs). NAbs are the specific antibodies in the serum of COVID-19 patients responsible for clearing, blocking, and neutralising the viral infection.

NAbs are well-established biomarkers for protein in most viral infections. Therefore, the sVNT kit is a better measure for potential resilience to re-infection.

Apart from working with local biotech companies to increase production, cPass is launching worldwide with its kit available for purchase and research use globally. The cPass test is already available for in vitro diagnostics use in Singapore and has obtained provisional authorisation by Singapore’s Health Science Authority.

5. Novel nasopharyngeal swab by NUS

A key component of PCR tests is the swabs. They are extremely important, as uncomfortable as they might be. Given how much testing has to be done and supply chain disruptions, there has been a major shortage of these swabs everywhere.

Singapore, being the overachiever that she often is, has found an ingenious solution to the problem.

A collaboration between the National University of Singapore, National University Hospital and an industry consortium headed by the National Additive Manufacturing Innovation Cluster has successfully developed a patient-trialled, cost-effective and manufacturable 3D-printed NP swab named ‘Python’.

After considering the clinical requirements of the swab in relation to its mechanical, material and biological properties, a double helix structure was used for the swab tip. The new nasal swab has excellent fluid absorption and causes minimal discomfort to the patient.

With the ease of 3D printing, Singapore can produce up to 40 million swabs in the coming months.

6. TY027- by Tychan

In the early days of the pandemic, the priority was to create vaccines to lessen the effect of the virus. Now that most of the world’s population is vaccinated, we can focus on a cure.

The Singapore-based company, Tychan is in partnership with the Singapore Ministry of Defence, Ministry of Health, and Economic Development Board to develop a cure for Covid-19.

Dubbed TY027, it is a monoclonal antibody that specifically targets Sars-CoV-2, the virus that causes Covid-19. The treatment is meant to slow down the progression of the disease and speed up recovery.

As of October 2020, Tychan has obtained approval from the Health Sciences Authority of Singapore (HSA) to begin Phase 3 clinical trials as part of the progression of the antibody development.

The trial will start in Singapore at partner hospitals Singapore General Hospital and National University Hospital, with Changi General Hospital and Sengkang General Hospital as referral sites.

7. Anti-body treatments by Proteona

While vaccines have been instrumental in our fight with Covid-19, they have limitations, especially with immuno-comprised individuals.

To combat this, local startup Proteona is formulating Covid-19 antibody treatments for these individuals.

In partnership with Australia-based Vaxine and Flinders Medical Centre, Proteona taps on its proprietary ESCAPE technology to profile immune responses. If successful, this will help vulnerable patients fight against the strain of coronavirus responsible for the current outbreak and future virus variants.

8. eXtreme Disinfection roBot by NTU

One of the best ways to control the spread of covid-19 ensure surfaces are clean and sterilised. Meet the eXtreme Disinfection roBot or XDBot by Nanyang Technological University (NTU).

Built at a lighting speed of six weeks, the XDBot robot disinfects large surfaces semi-autonomously. This dramatically reduces the risk for users in contact with potentially contaminated surfaces.

This project is headed by Professor Chen I-Ming, CEO of Transforma Robotics. The eXtreme Disinfection roBOT or XDBOT can be controlled wirelessly through a laptop or a tablet.

The eXtreme Disinfection roBOT or XDBOT is a rechargeable robot. It can operate for four hours continuously and is also equipped with an 8.5 litres tank.

9. Hiro (Healthcare Assistive Robot for Frontline Infection Control) by Ngee Ann Polytechnic

In these Covid-19 times, robots have helped lessen the load for our healthcare professionals.

Meet HIRO, which stands for Healthcare Assistive Robot for Frontline Infection Control. It was built by researchers at Ngee Ann Polytechnic and is currently on trial at Tampines polyclinic.

The robot uses UV-C light to kill bacteria and viruses and can direct visitors to service points. Given the recent rise in cases, HIRO helps to reduce the rate of infection and lessens the burden on healthcare professionals on doing laborious tasks like cleaning hard-to-reach areas and temperature screening.

The future might be looking up

It’s hard to say when Covid-19 will come to an end or whether we will ever reach an endemic status with the virus.

If this strange time is also marked by these Medtech achievements and strides by our homegrown scientists, I think we might be okay after all.

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: NTU, Tychan, Proteona, NUS

Also Read: Safe Distance @ Parks: How AI replaced eye power for crowd counting

Red light, green light: 7 S’pore firms that jumped on the Squid Game biz marketing hype

Playing children’s games with deadly penalties for the chance to win billions of dollars.

This Netflix programme became one of the on-demand streamer’s most-watched programmes in several regional markets within a week of its release.

The Korean Series Squid Game started streaming last month, featuring a nine-episode series. The international hit may return with a second season, although the director has not promised anything just yet.

This popular game series has even caused some restaurants and shops to jump on the hype, in a bid to lure customers in with games and prizes.

We take a look at some businesses that have taken a spin on the popular Squid Game to drive customer engagement and improve sales.

LiHO

Tapping on the Squid Game hype, bubble tea chain LiHO used the popular series to promote the launch of its myLiHOTEA membership.

It posted on social media on how members can get birthday rewards, 1-for-1 drinks voucher for each sign up, earn points and get exclusive promotions, using the scenes from the Netflix series to interest them to sign up for the “prizes”.

Customers are asked to scan the QR code on the Squid Game image to sign up for the membership.

According to Shopsinsg, the bubble tea chain has a network of 95 outlets in Singapore. It also offers online delivery via its own site and food apps like foodpanda, Grab, and Deliveroo.

To drive sales, it recently introduced Singapore themed drinks, including Singa-Pandan Lime and Singa-Pandan Shake.

Brown Butter Cafe

Following the show whereby participants are given honeycomb candy to carve out shapes within a time frame, or face death, Brown Butter Cafe is offering the same challenge for customers – without deadly bullets involved.

Customers can choose to cut out either a circle, star or heart, and have to cut it under two minutes to receive a prize card. The prizes range from a free cheesecake to latte.

The challenge, which started on September 29, will last till October 24th. It is only available during weekdays.

Buey Tahan See-food

The zi char and seafood chain came up with its own rendition, called Crab Game.

The event runs from now till October 17th. There’s a specially designed invitation card replacing the circle symbol with that of a crab and 10,000 of these cards are given out at random to customers who make delivery or takeaway orders.

Customers play a game of Flappy Bird – a game where users tap the screen to make the bird fly and avoid obstacles – and post the results on Facebook with the hashtag #crabgame and tag the zi char store’s Facebook page.

Users also have to send the screenshot via Facebook messenger. The high score players can win attractive prizes, including a seafood bag, a single crab, or food vouchers.

It’s also offering a grand prize of S$456 cash. Users have to win exactly 456 points in the Flappy Bird game for that.

Cafe Coco

The cafe situated in a picturesque corner at Gardens by the Bay is offering Squid Game designed latte to its customers.

Customers need to mention “Red light, Green light” over the counters and it is limited to the first 456 players only.

The cafe which sells brown butter choux puffs, artisanal handcrafted waffles, and bottled brews said it suffered when walk-in customers dwindled significantly due to the pandemic. The business also offers online delivery.

Acai Collective

The acai dessert brand also launched a social media campaign asking winners to guess which of the store’s standard acai bowls contain three fruits – kiwi, strawberry, and banana.

In a push for engagement, it requested for Instagram users to tag a friend and follow the brand IG page.

It gave away a large Acai Collective bowl to three winners. 

Little Bear House

The specialty indoor playground at Serangoon Gardens posted on its Instagram page a “Squid Game”, to drive engagement to its business.

It listed two truths and one lie, asking users to guess which was a false statement. Winners get to win a pair of weekday passes to the experiential playground.

The playground offers 2,500 sqft of space, toys, and sofas for parents and children to visit and play.

Bibimpicks

The clothing business which brings customers wearables designed and manufactured in Korea has launched a preorder for Squid Game special apparels.

The clothes are available from baby to junior sizes. The launch started on October 8th and is only available for a limited time. There’s also a preorder for Squid Game designed clothes in adult sizes.

It closed its preorders early due to “overwhelming” response. The business may open preorders again to catch on the Squid Game hype.

Businesses luring customers with gimmicks, deals during tightened Covid-19 measures

The Singapore government issued safety measures late last month in a bid to curb the community spread of the pandemic.

Some measures include working from home as the default and two pax dining restrictions.

The latest measures have caused many businesses to struggle, with many expecting at least 60 per cent of total sales to be hit by the restrictions.

Some eateries have ended up closing shop this year, as footfall and rental issues continue to plague.

While the fun is in the games, the businesses actually have a serious need for survival in this period. That’s unfortunately, very much similar to the game of survival seen in the Squid Games.

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: Brands’ logos, Brown Butter Cafe, Aletheajane, Bibimpicks

Also Read: Covid-19: Here’s a list of F&B businesses in S’pore that have closed or is closing down in 2021

What makes Halo Delivery stand out, as an on-demand service with 8K riders

[This is a sponsored article with Halo Delivery.]

Over the last few years, the demand for delivery platforms skyrocketed. We now have apps dedicated purely to food, groceries, and courier services, fulfilling all our needs around the clock. 

Sadly, most of these conveniences are only applicable to those living in cities and even if they’re extended to rural areas, their services are spotty at best. Halo Delivery is one of the platforms that hopes to alleviate some of these problems for those who live a little further from the cities.

We spoke to Jalluddin Abu Hassan, the Director of Halo Delivery about his business, a delivery platform for food, pharmacy, groceries, daily needs and courier services, with riders delivering up to 40KM.

Hammering up a business from Batu Pahat

For most businesses that are just starting out, getting noticed and having more merchants on board will undoubtedly be a priority. It’s just like the chicken and egg problem—without merchants, you can’t get customers on board. But without customers, merchants are hesitant to sign up.

Luckily for Jalluddin, he foresaw the issue and allocated some budget for marketing in the form of flyers, buntings and online ads. These did drum up some to sign up onto the platform, but it was still largely an unknown name.

It was when the Halo Delivery team was introduced to MDEC’s (Malaysia Digital Economy Corporation) eRezeki programme in September 2020 where the platform found its footing. He told us that MDEC  provided him with guidance and advice, along with knowledge sharing opportunities with other service providers and government agencies.

That was enough to give him the baseline to tweak and add more services onto Halo Delivery. Equipped with more offerings and merchants on the platform, Halo Delivery soon blossomed and the app passed its 1,000,000th delivery mark back in September 2021.

Focusing on underserved areas

Over the past year, the team have been directing their efforts to onboard more merchants onto their platform. To date, they’re working with over 23,000 merchants across Malaysia.

I wanted to try it out for myself, as a resident of Klang Valley and more specifically Bukit Jalil. However, I found very few options on it and my colleagues also hadn’t had any exposure to Halo Delivery before either. 

The Halo Delivery team revealed to us that they have just entered the Klang Valley market last month, so their offerings here are limited now. However, the team told us that they are making significant progress  onboarding new merchants in the Klang Valley. That said, they are still maintaining their status quo to focus and champion small town areas—and they’re available in 240 areas nationwide. According to the team, they’re more known in Johor, Pahang, Terengganu, Kelantan, Perak, Negeri Sembilan and Sabah. Now they are starting to gain customer attention in other states too.

Since they are an online platform, the team told us that they even received orders from customers overseas, like Singapore, to deliver food and groceries to their loved ones back home in Malaysia.

The team also emphasises on bringing SMEs onto the platform, so you’ll find merchants from restaurants, stalls, home-based cooks to food trucks.

Halo Delivery also offers their merchants the ability to list products on the platform at no cost, and according to the team, the merchants are paid on a cash basis without penalties, and all without hidden fees. If you’re a merchant, getting paid by cash can be an enticing deal, and with the reach of Halo Delivery, they can reach a wider customer base.

The riders under Halo Delivery are gig workers too. This gives the riders the freedom to pick up other jobs at their own convenience. Their 8,000 strong fleet is covered by SOCSO too.

In conjunction with the new look of Halo Delivery, they’re having an ongoing promotion until October 31^st. The winner will net themselves an iPhone 13. Here’s what you need to do:

1. Download Halo Delivery from Google Play, Apple App Store or HUAWEI AppGallery

2. Register on the platform via a mobile number or email address.

Looking towards an angelic future

Currently, the platform averages around 90k new users a month. Jalluddin told us that they’re not faltering in their plans to add more services onto the platform and to continue serving the residents in underserved areas.

To him, he sees every day as an achievement as he can provide convenient services to customers nationwide. And as someone who has lived with this convenience and using it more since the pandemic, it’s good to see a business dedicated to focusing on those not in big cities.

• Download Halo Delivery on Google Play, Apple App Store or HUAWEI AppGallery.
• Read up on what we’ve written about other startups here.

Also Read: A spotlight on 3M’s under-sink water filter, built from their 80+ years of expertise

Featured Image Credit: Halo Delivery

A look at Razer’s fintech, crypto, greentech ambitions: “We think big, start small, act fast”

Razer is known to most as a gaming company, but it has since made headway into the fintech arena.

As part of TechinAsia’s virtual conference held yesterday (October 13), Razer Fintech’s CEO Lee Li Meng and Razer’s Chief of Staff Patricia Liu, uncovered how the company expanded into fintech without any previous experience or activity in the finance space.

It’s also interesting to note that Razer has also actively pushed the envelope in other ways as it diversifies its product strategy in the areas of tech, gaming, and even cryptocurrency.

How Razer made its foray into fintech

Razer has always been about “for gamers, by gamers”.

The company was founded in 2015 and for a long time, it focused on building hardware for gamers. In recent years (since 2018, to be exact) however, it has moved on to build financial services as well.

This got many questioning as to why they even entered into this space, but it’s actually a natural progression following a shift in the gaming industry.

“In the past, when you play games, you kind of scrimp and save a couple hundred dollars to play a game and when you get sick and tired (of it), you wait for the next edition. Today, games are about free-to-play, they encourage in-game payments, building a virtual identity by buying virtual helmets and whatnot,” said Li Meng.

“We realised that our gamers were looking for ways to actually partake in consumption of online content (like) live streaming and all that. And when we look at the pain points, our users and game partners were looking at the collection of payments, or the accessibility of payments for our gamers.”

This is something that developed countries like Singapore would be quite equipped in, as pretty much everyone has a bank account and credit card, but it was not quite the same for other parts of the world.

Razer observed that in emerging markets, gamers tend to be younger and need alternative methods of payment, which is what prompted them to extend their business into the fintech space.

They started building “a million offline points”, but soon enough, more alternative payments started coming up such as Internet banking and e-wallets.

At the end of the day, the infrastructure behind pulling dollars into the system, was something that I think was fragmented. It was not available to everyone, so we decided to invest.

(We did) what I tend to call “a lot of the plumbing work”, that nobody outside will actually see. We got out to get our license, track record, and built up our merchant base. Today, Razer Gold virtual credits is supported in Southeast Asia with over one million touch points that Razer Fintech has. And then, the rest of the world they have another 4.5 to 4.6 million touch points.

– Lee Li Meng, Razer Fintech CEO

Simply said, Razer moved away from purely gaming and took on this fintech direction because they realised that they needed to help solve a problem for their users.

A look at Razer Fintech’s growth

Razer Fintech is focused on digital payments in Southeast Asia. Last year, it hit US$4.3 billion in transaction volume, and US$3.2 billion for the first half of 2021.

“I think we’ve grown kind of in stealth mode to a certain extent over the last few years, and it’s starting to bear fruit for us.”

Commenting further on Razer Fintech’s growth, Li Meng remarked that when Razer IPO-ed in 2017, their H1 numbers revealed that their business revenue stood at US$100,000.

Last year, Razer Gold and Razer Fintech contributed to US$128 million of the company’s net revenue. This proves that it has become a “very big part” of their business, making up 10 per cent of its global revenue, said Li Meng.

He added that some people have the misconception that with the end of the RazerPay beta, their fintech dreams and ambitions are going to disappear overnight.

The answer is no. As I mentioned, the business has been growing and it has been driving a lot of transactions. The impact of that is actually very minimal to the Group.

If you look at most fintech companies out there, they tend to be very high-burn companies. They’re all focused on chasing one thing, which is purely transaction volumes. If we were going down that same route as everybody out there, Razer as a group couldn’t have gone from a negative US$150 million of net loss three years ago, to a profitable first half of 2021 at US$30+ million.

– Lee Li Meng, Razer Fintech CEO

While others may think that that their fintech dreams have burst and that it’s difficult for them to compete in this space, he assures that they have spent a lot of time to build Razer Fintech and won’t give it up so easily, especially since it has a “semblance of potential (to be a) unicorn within a unicorn”.

Following the discontinuation of RazerPay last September, Li Meng said that they have definitely learnt some business lessons from the experience.

“We always take our profitable core business and try and invest into new businesses. When we embarked on the fintech journey, we wanted to see how we can potentially support. The wallet is just the front-end, the back-end processing is usually done by someone else. We were probably the only ones that did the front-end and back-end.”

When it comes to payment processing, there’s a lot of legwork that goes into it — you not only need to get a payment service provider license, but if you want to do e-wallet, you need to do it in every single country, so scaling takes time, he asserted.

The upside is that they saw a huge demand as their Visa card went viral. Razer fans globally, in the US and Europe, kept asking when they could get their hands on the Razer Card.

“This is something that we know there is going to be response (when we launch). People who are big fans of ours will always come in and support us.”

What I also do realise is that when you have capital to invest at some point in time, you look at something that is doing well. But if the dollar burn here is going to be giving you less ROI than another business which also requires capital, from a business perspective, you then decide (on) capital allocation.

… The conversion of the 150 million users on to Razer Gold, the cost of acquisition is a lot less than trying to be a one-for-all daily use wallet. … It’s about focus for each of the group and driving returns for our shareholders.

– Lee Li Meng, Razer Fintech CEO

Moreover, he noted that when they were test-bedding RazerPay, Razer Gold has grown more globally and faster than Razer Fintech as it continues to see transactions being made hourly or daily by its users.

Think big, start small, act fast

Chiming into the conversation, Patricia remarked that it underscores the philosophy that they have at Razer.

Whatever Razer designs and puts out into the market, they always have the gamers in mind.

We think big, but we start small. From our track record, (you can see that we’ve been making) small inroads into certain sectors and categories. When we did peripherals, people told us that there’s no market for highly-priced premium peripherals, but we proved them wrong. Same thing with our hardware, business laptops, and stuff like that.

We start small, and after that, we act fast. We are very quick to go in, and we scale as needed. But we’re also very quick to say ‘how do we pivot into something else that is actually going to be good for the company’. That’s why we’re able to make that transformation in a very short time — from a negative to a positive — and still preserve the whole bottomline. We may be bigger now, but we are still very startup(-like) in terms of mentality, in adopting, commissioning, and decommissioning whatever projects that we are in.

– Patricia Liu, Razer’s Chief of Staff

One such project that showcased this mentality is its award-winning Project Hazel, which is dubbed the “world’s smartest mask.”

“We literally said, ‘look, Covid-19 is not going to go away anytime soon; the habit of wearing a mask is probably going to be there for quite some time’. How do we pivot and create a product that is not bothersome. It’s cool, it lights up, it’s N95. And straightaway, our engineers got to work,” shared Li Meng.

“We are now in beta-testing (phase) and have sent it out to many of our friends who have given us feedback, and the plan is to hopefully roll this out in Q4 2021.”

Why it’s betting big on sustainability

Building on the idea of always putting users first, it is also the very reason why Razer is betting big on sustainability now.

They realise that users are getting more conscious about sustainability, and would like companies that they are buying from to also do the same.

We are keenly aware that our main market as well as our main supporters are really the youths — the Gen Zs and the millennials — and we are aware of the responsibility. If anything, Razer is very loud and we are loud in everything that we do. We want to make sure that this voice does not go into a void and is actually heard.

Sometimes people scoff at us and think it’s an oxymoron that a gaming company wants to be sustainable. But we believe in the “starfish approach” and will do whatever we need to (add value) to the bigger picture.

– Patricia Liu, Razer’s Chief of Staff

She also stressed that Razer has always been involved in sustainability efforts since day one, except that they used to call it as “eco-friendly” or other terms, long before sustainability became a buzzword.

Now, they have become more intentional with their sustainability efforts, and have even published a manifesto on it.

Li Meng cited an example of how Razer boxes used to “very big” and “very loud” to capture people’s attention. But in the last few years, they have taken the effort to downsize it to minimise shipping space, and made use of recyclable, origami-like packaging that does not use any glue.

Internally, Razer has also banned the use of plastics at its new headquarter, and they’ve also put dollars to their corporate venture arm, zVentures, to support sustainable startups.

The first investment from Razer’s US$50 million Green Fund went to Bambooloo, one of the world’s first plastic-free bamboo toilet paper and home care brands.

Razer has also partnered with Hong Kong-based startup ClearBot to redesign its AI robot that cleans up marine plastics.

Patricia added that literally the entire company is activated to play a part in sustainability.

Razer CEO Tan Min Liang is “personally passionate” in this endeavour, Razer executives have a direct sustainability KPI in different areas that they helm like R&D or logistics, and Razer staffs are given eight hours off to embark on a sustainability project that they are interested in.

Razer’s move into crypto

Besides sustainability, another thing that Razer users are interested in is cryptocurrency, which is why Razer CEO have publicly announced that they are inching towards this space.

“If you look at the whole talk around crypto, blockchain, NFTs, generally, it’s the guys who are very passionate about it. It’s the younger guys who spend a lot of time on the online world, so the gamers right? This is something we know for a long time, and it’s something we will not be able to ignore. Now the question is, how do we make the right entry?” quipped Li Meng.

Since Razer is a listed company, there are certain things that they may, or may not be able to do. This is why they are being “very careful” — they are answerable to their shareholders, but at the same time, they want to look at things that matter.

In line with their crypto ambition, Razer has made several investments in this space, including Southeast Asia-focused crypto exchange Coinomo.

The idea is to better understand how this entire thing work and see if there’s a role for Razer Fintech to help with the processing behind it.

This is a very licensed business. Does my current license allow me to do it? In certain countries which are more supportive, probably yes. Singapore’s payment services have already started allowing people do digital assets. So if I don’t have the license, are there other partners I can work with? There are capabilities that Razer has, that some of these partners don’t have.

So it is an opportunity for us to use the dollars and capital we have on our balance sheet. We raised US$600 million with no debt four years ago, and today, we still sit on US$600 million with no debt. We’ve not fundraised any in the last few years. We have the luxury of having a core business that is growing very strongly with profitability. We’re able to reverse the losses, but still have the flexibility to put capital to learn about new things that our gamers care for.

– Lee Li Meng, Razer Fintech CEO

“We are (still in) early days because it’s not straightforward,” he said conclusively.

He added that Razer is a “high-growth tech company” that has seen 20 to 40 per cent growth year on year. Profitability is on the horizon, and they are actively entering new segments.

Separately, noting that new cryptocurrencies and blockchains require high energy consumption, Patricia assures that whatever fintech strategies that they are exploring next, they will balance it with sustainability.

“It’s two seemly opposing ends, but we will evolve and iterate as we go. … The youth, millennials and Gen Zs are interested in cryptocurrency, so let’s see how we can actually get this whole thing sorted out in a balanced manner and still fulfil our responsibility to be a good role model. This is a tall order, but then again, we are used to a high benchmark.”

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: Tech Wire Asia

Also Read: Game over in just about two years: What led to the discontinuation of Razer Pay and Card?

COVID-19 has driven the need for secure online signatures, which is this M’sian team’s forte

[This is a sponsored article with SigningCloud.]

Whenever we’re asked to sign documents online, the easiest way to go about it is to Google “free online signature app”, download the app, sign the document and call it a day. It’s a relatively simple, fast and free method.

However, unsecured or malicious apps can lead to fraud, forgery and be used to sign documents on your behalf without your consent.

Edward Law, the CEO and co-founder of Securemetric Bhd previously told us that e-signatures can easily be tampered with. If someone has access to your email and changes the content of the signed document, you’d have no way to detect it at all. This is where their platform, SigningCloud, comes in as a safer alternative by using digital signatures.

When COVID-19 became widespread, the demand for their locally-made solution increased, with three times as many requests for demos as companies and individuals wanted a more secure signing option.

The team, however, is not resting on their laurels just yet. They’ve been diligently improving SigningCloud by adding more features in what they dub SigningCloud V2.

Built to prioritise document security

On the surface, digital signatures and e-signatures are similar solutions for online signing. But, a digital signature has more security features and is tamper-proof to boot. It’s so secure that you’d probably have an easier time just forging a handwritten signature, Edward claimed.

Digital signatures are built with multiple main security pillars revolving around authentication, confidentiality, integrity and non-repudiation.

1. Before a user signs, they will need to go through two-factor authentication (2FA) to ensure the document is signed by the intended signer.
2. Only the signers and owners of the paper have access to the documents.
3. The document is cryptographically fingerprinted and tamper-proof, which means any changes made to the documents after signing can be easily detected using a common PDF viewer.
4. Parties cannot dispute that they have signed the documents after, as their identities were verified as authentic and trusted by certification authorities. The verification may even be presented in court as evidence.

Since everything is done digitally and safely, businesses will not have to bother about printing bundles of documents to keep in their drawers either. Everything they’ve signed can be referenced online through the platform. The solution isn’t just for companies either. If you’re an individual concerned about the safety of what you’re signing, you can also use it.

Improving on their existing solution 

In SigningCloud V2, users can experience a new design that allows for “an easier document creation and signing experience”, said Edward. They settled on this new design based on user feedback and industry research on UI (User Interface) and UX (User Experience).

The new UI enables users to quickly refer back to the documents they’ve signed, or the documents they need to sign, along with other customer-centric changes. This is done through a secure audit trail on the platform.

The team also routinely checks on the security of their platform through external penetration testing. A cybersecurity service company will be selected to conduct a simulated attack on the platform to test and identify weak points. As a result, the team will always be on top of the situation in case of an attack, rather than only figuring out how to deal with it when one occurs.

Edward said: “Security is always top on our list, not only do we utilise one of the region’s top security compliant cloud service providers, we invest into top-notch security services such as multi-layer firewall, anti-DDOS, anti-ransomware and 24/7 security operation monitoring.”

The platform also adheres to the Digital Signature Act 1997 (DSA 1997), where the digital ID of the signer is issued and can be verified by a licensed certification authority (CA). In SigningCloud’s case, users can choose between MSC Trustgate and Pos Digicert as their CA of choice. Users are also free from vendor lock-in, and they can choose the CA of their own volition, based on their pricing and services.

Accessibility-wise, the team will be implementing more support for EDMS (Electronic Document Management Systems) based on customer demands. The new version of SigningCloud will support Microsoft SharePoint and Alfresco EDMS. Users of these programmes can sign their documents digitally through SigningCloud, all without going out of the programme for improved workflow.

Even before these features are implemented, the team is already working on more to be added to the platform. 

But if you’re not sold on the platform yet, you can try out the platform for free. Under the free version, you can upload an unlimited amount of documents for signing, provided the signers are a registered SigningCloud user as well.

Building on the momentum from Malaysia

SigningCloud’s next big leap is to aggressively expand from Malaysia into as many SEA countries as possible. They’re currently in talks with relevant regulatory parties in 3 other countries, and Singapore is one they’re following up closely with.

Once the Singapore government signs on, the residents of Singapore using Singpass (Singapore’s National Digital Identity Card) will be able to sign any legal documents on the app, which’ll go through SigningCloud’s secure digital signature process. 

This process will be governed by the Electronic Transactions Act (Cap. 88) and the Electronic Transactions (Certification Authority) Regulations 2010 in Singapore.

“We will continue to add support to as many trusted CA and eKYC (electronic Know Your Customer) providers as soon as possible, with our dream of making SigningCloud the Universal Signing Platform that supports cross-border digital signature in a few years,” said Edward.

Edward hopes that by bringing SigningCloud to more businesses in SEA, the businesses will be able to take a conscious step towards becoming more digitally-capable, through digital signatures.

• For more information on SigningCloud, click here.
• Read up on what we’ve written about SigningCloud in the past here.

Also Read: Laptop subscription services exist, but this M’sian company added on software and IT support

Featured Image Credit: SigningCloud

With RM60K, she launched a biz to recreate Cornetto’s choc tips & it sells 1K packs/month

Wall’s Cornetto ice creams have likely been a childhood (and beyond) favourite treat for many around the world. What makes this convenient store snack so special is its sweet, chocolatey bit at the end of the ice cream cone.

So when local online business Eskem Bites released its own product selling just the chocolate tips for RM25 per pack, I assumed that its founder just really loved the ends of Cornetto cones. 

Either that, or they were making Cornetto Tips—which have been available in other countries since March 2021—accessible in Malaysia too.

Upon speaking to them, its founder Linda revealed that the idea of founding Eskem Bites had actually been brewing for at least 2 years prior. Being a homemaker who cooks and bakes daily, she’d been experimenting with creating various snacks for her family of sweet tooths.

But the idea to launch chocolate cone snacks finally occurred to her on a hot day at a family picnic.

A hot picnic day

“It’s a silly story. There was a day that our family went on a picnic and got everyone a Cornetto ice cream,” recalled Linda. The hot weather had melted every single one and the only part which survived was the chocolatey tip at the end of the cone.

It didn’t really matter to the family; the chocolate tip was everyone’s favourite part of the snack.

“A crunchy chocolate cone that melts in the mouth that wasn’t sold anywhere. That’s how I got the idea for Eskem Bites. To make them readily available so everyone can enjoy their favourite part of the ice cream on the go, wherever and whenever,” Linda told Vulcan Post.

To get the wheels turning, RM20,000 was invested on machinery and raw materials to make the chocolate cone tips. After the products went viral on social media 4 months into Eskem Bites’ launch, demand increased and more funds were pumped in to ensure it could keep up with production.

In total, RM60,000 was invested as start-up cost, which also includes the company’s marketing budget.

Just the tips

Currently produced in Linda’s home with 3 other teammates, Eskem Bites’ bites (what they call their cone tips) are manually cut from ready-made cones in the market. This is because the team has yet to attain the machinery required to make the tiny cones from scratch, but Linda shared that it’s in the works.

After the ends are cut off, Linda would use the rest of the cones to create simple snacks for her family instead of merely throwing them away. Because the remaining cone bits aren’t being turned into another product that can bring in revenue, it appears that this is one area of loss.

In order to maximise the usability of the extras, especially if she’s left with a lot after each batch, perhaps Linda could consider turning them into other simple snacks to sell.

The team will then pipe in the chocolate mix and wait for them to set in a chilled environment. To ensure quality control, each bite will go through multiple checks by Linda during the production process.

On average, each team member can produce a rough 50 packs of Eskem Bites in 7 hours. 

The product seems simple, as it appears to only require store-bought ice cream cones and chocolate filling, which can also be made from products found in grocery stores. 

With such a low barrier of entry, it’s easily replicable and could inspire more small businesses to leverage this trend as well, especially during festive seasons like Hari Raya where unique snacks will be highly demanded.

When brought up, Linda agreed and stated that her bites can be made by anyone. “But very few would actually withstand the tedious work and preparation to ensure the bites are crunchy and melts in the mouth,” she added.

“Though the product is simple, the process isn’t as straightforward as it seems. It requires very thorough observation and controlled temperatures across the working hours.”

Being in the F&B industry, she further explained that it’s normal to have competitors, and that the team would be proud knowing that they were the first to market such a product in Malaysia and Singapore. 

When customers become sellers

While production is based in Subang Jaya, Eskem Bites ships nationwide and has been made regionally available through agents in Selangor, Johor, Kedah, and Negeri Sembilan.

Linda shared that this expansion came after a distribution issue during the business’s virality period. Because the product was rare to find, the customers who bought them were impatient when it came to waiting for products to be shipped.

Eskem Bites chose to leverage its customers online who also happened to be looking for an additional income stream during the pandemic. They were then onboarded as agents to help distribute the product in their respective states, and the brand was able to be more efficient and quicker in fulfilling customer purchases.

Since launching in May 2021, Eskem Bites has been steadily selling an average of 1,000 to 1,500 packs of their chocolate cone tips monthly.

To expand, Eskem Bites has plans to come up with more flavours of its bites which would keep customers interested and coming back for more.

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While Eskem Bites’ product isn’t in any way original, its good reception comes down to how the team took an already well-loved product in the market and made it more accessible to customers.

Many can think of creating something, but it requires someone to actually bring it to fruition. Even as more competitors start popping up following Eskem Bites’ success, the brand would still have a first mover advantage. 

So long as the brand can remain relevant by introducing more products that trigger people’s nostalgia and keep up with the quality and good customer service via dropshippers, Eskem Bites would have the potential to become a reputable snack brand in the future.

• You can learn more about Eskem Bites here.
• Read more F&B stories here.

Also Read: Laptop subscription services exist, but this M’sian company added on software and IT support

Featured Image Credit: Linda, founder of Eskem Bites