77% of S’poreans claim that they can spot deepfakes, study shows
An online identity study has produced interesting data about Singaporeans and our attitude towards deepfakes.
Deepfake awareness in Singapore has grown
Consumers who worry about deepfakes on a daily basis:
According to this poll, 88% of Singaporeans polled are worried about deepfakes on a daily basis, while 77% of Singaporeans polled were confident they could spot a deepfake (up 24% from 53% in 2023)!
Consumers confident in their ability to spot a deepfake:
Why this sudden rise in awareness?
We attribute this to the commotion generated in late 2023 by a deepfake scam that used an AI-altered video of then-Deputy Prime Minister, now Prime Minister Lawrence Wong, which raised public awareness about deepfakes in Singapore.
Singaporeans are also aware deepfakes may potentially influence the next election
“Worry about the potential of AI and deepfakes to influence upcoming elections“
Singapore’s next General Election must be held by November 2025, though analysts have predicted that it may be held instead in September 2024. As the charts show, this impending election has raised our deepfake awareness and scepticism levels.
“Compared to the last election, I will be more sceptical of the political content I see online.”
Finally, this study also shows that 66% of Singaporeans polled still trust online political news, though it doesn’t distinguish between an online news portal and a TikTok video.
“I trust political news that I see online, despite the possibility of encountering audio/video/image deepfakes.
Feature image: Shutterstock
Also read: S$650 million was lost to scams in 2023. Will AI Deepfakes drive this higher in 2024?
Explore Malaysia’s future in biotech, hydrogen & spacetech at this KL summit on August 12-13
[This is a sponsored article with MRANTI.]
Since 2014, the Ministry of Science, Technology, and Innovation (MOSTI) has hosted its annual Malaysia Commercialisation Year Summit (MCY Summit).
It’s designed as a platform to boost and accelerate the commercialisation of research innovations and products in both local and international markets.
Now in its eighth edition, MCY Summit 2024 will be held at Kuala Lumpur Convention Centre between August 12-13, 2024.
Spotlighting emerging innovations
The first day of the conference will spotlight Malaysia’s future in biotech, spacetech, and the hydrogen economy.
Did you know: The hydrogen economy is an umbrella term for the roles hydrogen can play alongside low-carbon electricity to reduce emissions of greenhouse gases.
MCY Summit 2024 will kick off with a panel asking: What will Malaysia look like as the global hub for biotech innovation and accessible healthcare?
ALPS Global Holding‘s cellular therapy solutions, developed through stem cell research, showcase Malaysia’s biotech potential. These advancements position Malaysia as a medical tourism hotspot, attracting both local and international clients.
However, to get there on a larger scale, challenges in regulatory hurdles, funding, and talent development must first be overcome, and the panellists will explore potential solutions.
The panellists will feature ALPS’ Group CEO Dr Tham Seng Kong, Professor Dato’ Dr A Rahman Jamal, a Senior Principal Research Fellow at Universiti Kebangsaan Malaysia Medical Molecular Biology Institute (UMBI), Dr Iffah Izzati Binti Zakaria, a Senior Scientist at Malaysia Genome and Vaccine Institute (MGVI), as well as Dr. Ami Fazlin Syed Mohamed, Director at the Institute for Medical Research (IMR).
They will discuss the importance of collaborative research and cover the supportive policies required for further commercialisation.
Next, ministers from MOSTI and the Ministry of Natural Resources and Environmental Sustainability (NRES) will discuss integrating hydrogen as a sustainable energy source in Malaysia.
They will share insights on supporting energy transitions with data on technology, innovation, policy, finance, and investment. With Malaysia aiming to cut carbon emissions by 45% by 2030 and reach net zero by 2050, these dialogues are vital. The ministries will exchange ideas on policy frameworks for the National Energy Transition and Hydrogen Economy Roadmap.
MCY Summit 2024 will also explore the country’s involvement in spacetech.
Did you know: Spacetech encompasses everything from satellites and other instruments to the human aspects of space travel, such as astronautics, physics, chemistry, and biology.
Led by the Malaysian Space Agency (MYSA), the government projects the space sector could add RM10 billion to the economy by 2030.
“This endeavour is set to catalyse the growth of 500 space-related technology startup companies, creating around 5,000 job opportunities and fostering innovation within the sector,” MOSTI’s Chang Lih Kang told New Straits Times.
MYSA will be joined by Uzma Berhad (an energy solutions provider) and Access Partnership (a technology consultancy firm) in a panel discussion.
They will emphasise the importance of a cohesive policy approach, public-private partnerships, and international cooperation. This collaboration is crucial to propel Malaysia’s space technology ambitions from policy formulation to successful orbital missions.
Other happenings to anticipate
Besides the main stage discussions featured at the event, you can also check out MCY Summit 2024’s satellite talks to build your knowledge in commercialising innovations.
They include sharings from MyIPO, which will grow your understanding of how intellectual property (IP) rights can drive business growth in Malaysia’s entrepreneurial landscape.
You’ll also get to hear from Cradle Fund on some current trends in technology funding, as well as available grants and investment programmes offered to innovators and researchers.
Richard Ker will be another keynote speaker to watch out for at MCY Summit 2024. He’ll delve into how entrepreneurs can leverage their personal brand to enhance their startup’s market visibility.
MCY Summit 2024 will also be hosting an award ceremony to recognise promising researchers and innovators in Malaysia.
You’ll even get to watch live demos and interact with these winning solutions at the summit’s exhibitions.
Overall, this event is an opportunity to join over 80 companies and 10,000 participants in spearheading Malaysia’s technology innovation. Admission is free, so register your interest here with your details.
- Learn more about the Malaysia Commercialisation Year Summit 2024 here.
- Read other articles on Malaysian startups here.
Also Read: You don’t think website building is worth RM100K until you know what this M’sian team can do
Featured Image Credit: MCY Summit 2024
Can a fresh grad join a VC? Here’s how Protégé Ventures paved the way for these students
Amira Azman had always been “baffled” by how startups could seemingly “pop out of nowhere” and quickly achieve global recognition and success.
While venture capital (VC) funding certainly plays a crucial role in scaling these startups to success, how exactly do investors identify startups that are truly “enticing and worthy”?
To gain a better understanding of the realm of entrepreneurship, Amira dabbled in early-stage investing during her polytechnic years. Despite her efforts, many of her burning questions remained unanswered, especially since she lacked a business background.
But when she chanced upon Protégé Ventures, she saw an opportunity to dive deeper into the VC world and gain the insights she had been seeking.
By students, for students
Launched in 2017, Protégé Ventures is Asia’s first and Singapore’s only student-run VC fund. The programme is run by Singapore Management University (SMU)’s Institute of Innovation and Entrepreneurship (SMU IIE), and is open to all tertiary education students in Singapore.
It’s an initiative “by students, for students,” catering to student founders in search of funding and community support and aspiring venture capitalists eager to learn the ropes of investment.
From gaining hands-on deals experience to attending exclusive masterclasses by industry veterans, Protégé Ventures’ members get to play an active role in the startup ecosystem, securing invaluable mentorship along the way.
Since joining Protégé Ventures as an Associate, Amira, who is currently a student at SMU, has grasped a solid understanding of the ins and outs of the entrepreneurial space, from sourcing and evaluating deals to mastering investment strategies.
“My favourite has always been the demo days, where young entrepreneurs pitch their startups,” she shared. “You get to discover new business models, tech, and innovation, and then realise that there are always better ways of doing things”
Her curiosity and exposure to emerging trends in the entrepreneurial landscape has led her to learn how to be more receptive and open to new innovations and opportunities, honing her critical thinking and decision-making skills.
I often catch myself wondering why startups that initially appear ‘uninteresting’ eventually do well, only to realise that they have been doing the small yet crucial things better than others—that epiphany usually occurs after you often interact with the founders and their investors. There is always much to learn, no matter how much you think you know.
– Amira Azman, Associate, Protégé Ventures
Building connections gets you one foot in the door
Much like Amira, Adriel Yong’s experience with Protege Ventures has profoundly impacted his career, ultimately leading him to his current role at Ascend Network.
Although he briefly had experience as a venture scout during his four-year tenure at Yale-NUS, the 26-year-old shared that venturing into the VC industry as a young professional can be daunting.
VCs are known to be highly selective when it comes to hiring new analysts. More often than not, entry-level roles rarely go to fresh graduates and are typically reserved for candidates with at least the beginnings of a professional network.
By providing students with an invaluable platform to cultivate connections, Protégé Ventures serves as a springboard into the industry for young professionals like Adriel, paving the way for career growth and success.
One standout experience for Adriel in the programme was meeting Foo Tiang Lim, the co-founder and Partner of Forge Ventures, during a pitch competition as a fellow judge.
“The way he asked questions and gave feedback to the startups presenting was extremely insightful and served as a catalyst for my personal growth in understanding early-stage companies and entrepreneurs,” he added.
Since connecting with Tiang Lim, the two have co-invested in various ventures together, including supply chain startup Baskit. Tiang Lim has also shared his extensive experiences in building and investing in companies over the past decade, further solidifying Adriel’s understanding of the VC industry.
Apart from venture capitalists, speaking with founders during panel discussions has equipped him with insights into real-world situations and best practices in the startup space.
“Hearing firsthand accounts of the realities of entrepreneurship helped me appreciate the complexities of the industry, and inspired deeper empathy and appreciation for the entrepreneurs we get to meet as VCs,” said Adriel.
These experiences have not only broadened my knowledge, but also provided me with invaluable relationships and mentorship that have significantly influenced my career trajectory.
– Adriel Yong, Head of Investments, Ascend Network
70% of Protégé Ventures’ members successfully land jobs in VC firms & startups
Ultimately, Protégé Ventures aims to groom the next generation of venture capitalists—a goal it has successfully achieved seven years on, with 70 per cent of its members landing jobs in VCs and startups after graduation.
Equipped with the “foundational knowledge and practical tools for success in entrepreneurship” from Protégé Ventures, Adriel currently leads the investments team at Ascend Network, where he supports startups in the Southeast Asia region.
He hopes to continue thriving in the VC industry in the coming years. “Overall, I see myself deeply immersed in the dynamic world of venture capital, and I anticipate being actively involved in multiple deals within angel investing.”
Meanwhile, Amira has successfully secured internships with several VC firms, which have allowed her to deepen her expertise and explore various emerging industries, including insurtech, B2B SaaS, and even alternative meat.
“Protégé Ventures has majorly contributed towards the development of my analytical and problem-solving skills, allowing me to secure several internships—one at Eurazeo, and one at Wavemaker Partners,” she said. Currently, the 24-year-old is an intern at Woori Venture Partners, where she is focusing on growth stage, sector agnostic investments.
On the other hand, Jonathan Liem’s experience in Protégé Ventures has allowed him to better navigate the entrepreneurial landscape.
Having dabbled in various entrepreneurial pursuits since his teenage years ranging from e-commerce to aviation, the 20-year-old joined the programme to explore and understand the VC industry through the lens of a founder.
“Entrepreneurship is undoubtedly challenging, and while I may not have all the answers, I can confidently say that Protégé Ventures stands apart by hosting compelling events that offer valuable insights into the VC landscape,” said Jonathan.
In particular, the Lee Kuan Yew Global Business Plan Competition (LKYGBPC) event – a biennial global university startup challenge – has provided him an opportunity to network and learn from a diverse range of players in the scene. “I found the LKYGBPC event particularly intriguing—it showcased a diverse portfolio of startups that I hadn’t encountered before.”
Currently, Jonathan is working towards growing his data extraction startup, Nex AI, which enables companies to swiftly extract key insights from email data. Armed with the investor-angled insights he has gleaned from the programme, he aspires to expand his business into a unicorn in the next seven years.
Kickstart your career in entrepreneurship with Protégé Ventures
As Asia’s first and Singapore’s only student-run VC fund, Protégé Ventures aims to equip undergraduate and postgraduate students with the necessary skills to become entrepreneurial leaders.
It has trained 320 students, evaluated over 1,400 deals, and invested close to S$300,000 in 11 student startups that have collectively raised over S$35 million from notable institutional investors to date.
For tertiary students looking to kick start their career in the innovation & entrepreneurship ecosystem, recruitment for Protégé Ventures’ new batch of student analysts is ongoing until 31 July 2024. Sign up for the programme here, and shape the future through Protégé Ventures.
This article was written in collaboration with SMU Institute of Innovation and Entrepreneurship.
Featured Image Credit: Protégé Ventures/ Adriel Yong via LinkedIn
Also Read: New Venture Set To Groom Uni Students In S’pore Into VCs – Gives Them $20k To Play With
