Startups don’t need the services of public relations agencies – at least, that’s what most startup Founders or business leaders would like to believe. But let’s review that theory, shall we?

Imagine if an employee or an executive representing your company committed a blunder. Picture this: a mishap equivalent to a botched spell or a misplaced Portkey causing havoc. Now, what if a customer complaint, fueled by a touch of dark magic, went a bit too far and quickly became a viral sensation online, casting a dark cloud of negativity on your brand?

Imagine the repercussions of such a situation, as if there is a secret dark wizard employed in your company. And what if, despite investing significant time and resources in marketing your products and services, the public remains oblivious to your brand, almost as if they were all under the influence of the memory charm, Obliviate? Clearly, in that situation, all you need is a simple Beautification Charm.

But, since we don’t have that in the real world, how about trying the next best thing and getting yourself a reliable PR agency to act as your Patronus and keep all those Dementors, aka negative public perception, at bay?

The importance of public relations in crisis management

Ok – maybe that was too Harry Potter. Let’s study a real-life example. Startup Y is a Malaysian tech company that recently launched a groundbreaking e-commerce platform, aiming to revolutionise online shopping in the country.

The platform has gained popularity among users, receiving positive reviews and attracting significant media attention. However, as the user base expands rapidly, Startup Y encounters a PR crisis when a major data breach occurs, compromising the personal information of thousands of users.

Also Read: Barbie-fy your business with the power of PR

News of the data breach quickly spreads across social media platforms, causing panic and eroding trust among users. Negative comments, online articles, and viral videos criticising the startup’s security measures start circulating, damaging Startup Y’s reputation and impeding further user acquisition. The internal team at Startup Y, overwhelmed by the crisis, struggles to respond effectively, exacerbating the situation.

Recognising the urgency and severity of the issue, Startup Y realises the need for professional assistance and decides to engage a reliable PR agency with expertise in crisis management and come with amazing media relations, specifically in the Malaysian market. Fortunately, the PR agency quickly takes charge and develops a tailored communication plan to address the issue and rebuild trust with the affected users.

You see, being a Founder of my own company, I know for a fact that sometimes leaders tend to think that they know everything that is best for their business. Sometimes they feel like they can do everything themselves, so why would they need to involve outsiders in their operations? Why try to fix something that is not yet broken, right?

Why startups need to invest in PR agencies

Sirius-ly, you may need to think of it this way – you’re just preparing the umbrella before it rains, and this umbrella of yours is not a normal umbrella that just protects you from getting wet. It also actively does its best to make sure that you have sunscreen on and always look your best whenever you step outside. You may not think you need that umbrella because it’s not raining yet, but believe me, you’re going to wish you had that umbrella ready at arm’s reach.

Hiring a PR agency to take care of the image aspect of your business is especially crucial for startup companies.

While the founder Focuses on the business aspect of it, the little elves of the PR agency can work simultaneously to increase the visibility of your company, manage any crises that may arise, increase the rate of positive perception towards your brand and handle the creative aspects that will aid in maintaining a good reputation among the public, which to be honest, are your potential customers.

Also Read: The growth of business messaging: How it’s improving business performance in Southeast Asia

Proactive PR consultants will make sure that you are seen by the right people (like VCs) at the right time.

Needless to say, having a PR agency to handle the image and publicity side of your business is a convenience that not many leaders leverage. Everyone knows that the company’s image can make or break a business – so what’s the harm in ensuring that you’ve got yourself covered if anything goes wrong?

For companies that have been around for quite some time, having a PR agency to back them up can also mean increased credibility of the brand. The PR consultants will be able to advise you on certain aspects of the business that you should emphasise based on their knowledge within the media industry. This also applies to startup companies too. It can show potential investors that your company truly is worth the money.

Aside from that, the people at the PR agency can even help you get in touch with the right people at the right time. Looking for an award? Let the PR people know what kind so they can put out their feelers out there. Need help to get people to come to your company’s event? Let the PR people know so they can get in touch with their vast network of media contacts to make that happen!

Ultimately, a PR agency can help you with your business in so many ways that you may not even realise, especially for startup companies. It’s hard to list down all the benefits of hiring a PR agency as most of them have their own specialities and areas that they tend to focus on. But I have managed to pique your interest, pick up the phone and try giving a few PR agencies a call to discover which one is right for you.

“The wand chooses the wizard, Harry,” said Garrick Ollivander from the wizarding world. But in this case, you choose your wand and just watch the magic happen.

And to answer the earlier question, yes, startups do need a reliable PR team to back them up!

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

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This article was first published on August 2, 2023

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The efficiency of business-to-user messaging for any brand determines retention rates and growth numbers, and the ever-widening channels of communications have increased the number of customer touchpoints.

Using a single communication channel is insufficient; using every channel available will result in spamming and be counterproductive. Businesses need an omnichannel communications strategy that delivers a consistent experience across customer touchpoints.

In an age when automation of operations is being adopted to fulfil functions more efficiently, there’s no reason why the process of businesses’ communication with their user should lag behind. Notifications and In-App Chat APIs provide an opportunity for seamless handling of customer satisfaction and experience and should be leveraged as such in the omnichannel communication strategies.

Technologically advanced communications support the mantra of “doing more with less”, which adds value in targeting the ever-growing complexities of the end consumers.

Things to consider and keep in mind when drawing an omnichannel communications strategy:

Evaluate target audience and identify first-choice channels for automation

Depending on the type of business, the communication channels will change and need to be customised accordingly. Identifying the platforms most used by the target audience, followed by a thorough analysis of their benefits and limitations, is necessary. Customer preference for in-app user experience, push notifications, social media interactions, etc., have to be considered.

Also Read: How business leaders can utilise generative AI in employee communications

While external communication points may convince customers to engage with your brand, the in-app experience makes or breaks the deal. Fintechs have seen a 300 per cent higher average spend per user with chat, while ride-hailing businesses clocked a 75 per cent reduction in booking cancellation rates. This shows that efficient chatbots, easy-to-navigate UI, and updated info about products, services and the brand are crucial factors.

Methodically separate types of messaging between the channels identified

Every channel carries its own set of features which serve different purposes. For example, SMS for verification, emails for long format messages, in-app messaging for faster turnarounds, personalised notifications for prompting, etc.

Simultaneously, it is necessary to keep up with the changing trends. Clicks on emails have gradually declined over the years, and visual forms of messaging have taken over wordy texts. Live chats, push notifications, and other in-app communication features have taken the spotlight in recent times, and it is important to leverage the same.

Prioritising personalisation and customisation

Despite following through the steps of identifying the most suitable channels for the target audience and dividing types of messages, there is still wide scope for better targeting. While customers can be divided into demographics, they differ from individual to individual. Messages and notifications create more impact when they are customised to fit the receiver, and using platforms that allow the same should be a priority.

In-built CTA (Call to action) within in-app notifications drives customer action. Push Notifications can also be strengthened through personalisation, prompting users specifically based on their carts and buying habits and also be used to alert them of promotional offers.

Providing two-way communication at relevant touchpoints

Communication is successful when in addition to the company’s successful messaging process, the users can revert with their questions, inputs, and feedback. The aim of an omnichannel communication strategy is not to send out its messaging once but to establish a long-term route of conversations with their past, current and future customers.

Chatbots have emerged as an excellent and cost-effective two-way communication method, providing customer support in-app or at the website’s interface. The future is clearing a seamless segway into live chat from chatbots for higher customer satisfaction. Intelligent integration of chat platforms with carts, payments, product catalogues, etc., ensures faster conversion from interest to buy.

Also Read: How efficient communication drives positive relationships in product development

Reeling in a customer is not enough; you have to keep them

Business professionals are accustomed to ticking the omnichannel box, but their approach is often for a narrow time frame. Meeting and acquiring customers where they are is important, but long-term retention of these users on your website and app determines success.

Multiple studies, including Harvard Business Review research, state that depending on the sector and industry, the cost of customer acquisition is 5x to 25x higher than customer retention. The in-app channel is the best for using this gap, going beyond acquisition to drive adoption, usage, engagement, retention, and referral (upsells) — to manage all touchpoints of the user journey.

Omnichannel communications bring consistent consumer data and improve CSAT (customer satisfaction) metrics.

Instead of vague data divided based on large demographics, it allows brands to understand their users on a deeper and more individual level. Instead of blindly sending our mass messages and hoping some stick, strategising across channels helps increase the return on investment.

Communications strategies are not one-channel-fits-all, and brands must step up and leverage every productive channel to grow their brand’s voice.

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

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This article was first published on May 23, 2023

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With the IMF recently forecasting the next decade to have the lowest global growth in 40 years, or major corporates cutting resources and stating the need for “a year of efficiency” (Facebook’s Zuckerberg for example) and venture capital drying up, its clearly a time when productivity and efficiency are at the top on the management agenda.

It’s a time where lean efficiencies are key to not only surviving but to out-positioning the competition. It’s also a critical time when you and your leadership team need to understand the deep efficiencies that Category Design delivers across the organisation.

What is Category Design?

The methodology and discipline of Category Design enable you to define the market and category to your advantage. This not only out-positions your competition but also unleashes completely new revenue and economic upside.

Category Design begins with the deep exploration of “the problem” your organisation can solve.  What is this unique problem that has never been adequately described?  Perhaps it’s an evolution of the current state and problem, or perhaps it’s a problem we didn’t even know we had.

Internal impact

This deep exploration and thinking drive a powerful internal alignment across your team.  Once you land on the new problem and its articulation, it becomes a key inflection point for your own personal leadership and the team.

It’s a deeper clarity on what we are solving today and into the future.   It’s either a fine-tuning of your overall strategy or a complete epiphany and makeover of it.   It’s an entirely new category that is being defined, with the strategic intent of your company to be the de-facto leader as the “Category King”.

Those who tell stories, rule the world

Imagine now the power of an invigorated story and point of view around the problem that the company is solving.  Internal Comms sees not only a major boost and clarity around the united objective and strategy of the company, but this story becomes incredibly viral and consistent across the team and any internal communications.

Vision, Mission and Brand Values are all still there (but may see some modification) but it is the laser-like focus on the problem that people and teams rally around.  What are we solving and why does it make a difference?

Now apply this to recruiting.  As a candidate considers your company as a team and employer the team’s passion is abundantly clear, with clarity around “the problem” that is core to the company and its ambitions.  It sets you apart from other companies, who have washed-out, unclear messages around what the team is collectively working towards.   It makes you and your team incredibly viral with your message and Point of View.

Also Read: You’re destined to fail if you don’t do this 1 thing when building international teams

Don’t just design your future, build it

In this journey to describe and solve the problem (and to be the Category King), how does your overall solution and product roadmap need to evolve?  This is the Blueprint stage of the Category Design Methodology.   This one-page visualisation shows what successive waves of innovation and product availability will be catalysed by the problem focus.  It brings together product, engineering, sales, marketing, channels, and leadership to understand and clarify as a team “what” will be delivered and “when”.

External impact

With a clear problem, Category and internal Blueprint defined, the key realisation is that you cannot be a Category and be only one company.  The Category is a new Ecosystem, that needs to be visualised and described.   What companies/technologies/APIs/services/consumers/channel partners/government agencies / NGOs /analysts/media (and the list can go on) are part of this Ecosystem?

How can we visualise this Ecosystem? What shape/diagram/flow/layers; does it have? How does it enhance and tell the story around the Category?

This is a major result and “asset” from the Category Design process: not only a visualisation of the Ecosystem but a catalysation of strategy around it.

Consistently we see clients going through this step of design-thinking and having a set of epiphanies on not only the components of the Ecosystem but key targets and players who have been overlooked up to this point.

The ecosystem also drives deep thinking and efficiencies for accountability (who owns what “slice” for example?).  And how will we track and measure our engagement and outcomes with members of our ecosystem?

One particular slice of the ecosystem is key media.  Which journalists and media organisations do we need to focus on and develop deeper relationships with? This is especially effective as it is armed with a much clearer, compelling Point of View as part of your regular engagement and pitching to media.  More effective and productive PR/Media Relations is a significant impact and outcome (such as earned media) from Category Design (and can be measured).

Similarly, Analyst Relations receive a major efficiency boost.  Which analysts are you targeting and why?  How do we prioritise? And Analysts, like media, are tired of product and company-centric presentations.  What is the bigger idea and Category that you are presenting?  How does your Blueprint and Ecosystem Map reinforce your story and illustrate the clarity of your strategy?

Having a compelling and differentiated Point of View, a clear Blueprint and Ecosystem Strategy are incredible accelerants for your go-to-market capability. Further fuelling this however is the Lightning Strike methodology.  This proven GTM efficiency and outcomes-driver is based on a concentrated burst of GTM activities.

In most cases, this intense concentration occurs over a two to three-week period and involves all members of the company to participate and support.  Marketing of course is a central player and coordinator, but a “strike” enables the senior leadership to engage the entire company for teamwork and a clear set of metrics and targets.

Every Lightning Strike (likely every six months) that you run will be unique, but will have your Point of View at the heart of your content, and will have clarity of what parts of your Blueprint you are announcing and need to be market-ready; along with your Ecosystem targets and KPIs.

Your strike will have creative aspects, tactical components, key marketing investments, target customer engagement and many other components, but this intense burst will move the needle for awareness as well as pipeline impact.  And because it is so defined in terms of timing, duration and metrics, you will be able to measure the impact and ROI very clearly.

Also Read: How to balance rapid growth and sustainability as a startup founder

The whole is greater than its parts

Taken in total, these eight forces across internal and external impact are thus direct outcomes from Category Design and create an ongoing efficiency-flywheel effect:

But it is, as per Aristotle’s quote, greater than just the sum of the above parts.  Category Design challenges you and your team to not only think bigger, but differently. It’s your opportunity to lead, not follow.

And think about this:  You will always be in a Category.

The question then is: Do you want to position, or be positioned?

If you don’t define the problem and Category, then someone else will.

Carpe diem! Define and dominate your Category!

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

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

Image credit: Canva Pro

This article was first published on May 9, 2023

The post How Category Design drives productivity and efficiency appeared first on e27.

Almost 50 per cent of our waking hours are spent thinking about topics other than our current activities. Even though it’s normal, this mental straying might make it difficult for us to efficiently record and use our thoughts.

So, the question is, is there a better approach to capture these transient concepts for later use? The secret is to recognise the obstacles to productivity and use cutting-edge technologies to go over them.

The barriers to thought capture

Distractions, task switching, time consumption, procrastination, and intricacy all contribute to our thoughts never being completed. Let’s examine each of these challenges in more detail:

• Distractions: The average cost of distractions throughout a workday is 2.1 hours or over 26 per cent of an eight-hour workday. The substantial loss of time impairs both creativity and production.
• Task switching: The costly fallacy of multitasking can result in a 40 per cent reduction in productive time. We become less efficient and focused when we switch tasks.
• Time consumption: Typing takes up to 2.5 hours of a person’s workday on average, which is a significant amount of time devoted to a single form of expression. 
• Procrastination: Fear of failing (seven per cent), low self-confidence (eight per cent), perfectionism (seven per cent), low energy (28 per cent), and task aversion (50 per cent) are the main causes of procrastination. All of these things have the potential to impede work progress and completion.
• Complexity: An individual’s mind produces more than 6,000 thoughts per day. Many of these ideas are intricate and challenging to express, which increases the risk of them being overlooked or underdeveloped.

The costs of not capturing ideas can be high. If objectives are not met, there is a 42 per cent reduction in the probability of accomplishing goals that are not documented. In addition, those who don’t regularly write down their ideas frequently experience lower levels of happiness and fulfilment.

Also Read: Can generative AI usher us into the gilded age of ad creativity?

The time required to do activities grows; an average worker spends more than 11 hours a week writing by hand or organising their thoughts. It takes significantly longer for people who have dyslexia to complete this procedure.

Conventional techniques for gathering thoughts

Typewriters, transcribing machines, and paper and pencil are examples of traditional idea-capture techniques. Each of these approaches has advantages and disadvantages.

Pencil and paper

• Pros: More adaptable than computerised techniques, enabling impromptu and unstructured note-taking.
• Cons: Because notes must be kept in physical notebooks, they are less accessible and more difficult to arrange. This approach can be especially difficult for the 20 per cent of people worldwide who suffer from dyslexia.

Typing

• Pros: More efficient than handwriting and simpler to arrange and modify.
• Cons: Due to digital disruptions, it can be time-consuming and annoying. People with dyslexia find it less approachable as well.

Transcription

• Pros: Speedy and practical, enabling the expression of ideas that can subsequently be recorded.
• Cons: Thoughts may not always be clear from transcription and may not always be accurate, which could result in misunderstandings.

Transforming the art of thought capture

With the use of artificial intelligence (AI), there is a new cutting-edge technology suite of content creation tools that transform spoken words into structured, written text, thereby addressing the shortcomings of conventional techniques.

This approach has a number of significant benefits:

• Simple to use: To arrange their ideas, users can choose to start a new document or utilise one of the templates. Then, speaking into their desktop or phone app, they pause and resume as necessary.
• AI-generated questions: The AI asks conversational questions to elucidate concepts further, assisting in their development.
• Built-in Features: It has features that are intended to get beyond typical obstacles to productivity, such as:
• Document types: Users can turn their thoughts into infographics, emails, ELI5 (Explain Like I’m Five) summaries, journal entries, and social network postings, among other formats.
• Describe changes: Users can give the program instructions on how to reorganise their ideas. For instance, it can rewrite material to make it more succinct or turn bullet points into paragraphs.
• Collaboration: Users can work together on ideas from any location and on any device by using shareable links.
• Progressive Web Application (PWA): Installing this as a PWA enables cross-platform accessibility and ease of use.

Also Read: After failure, rekindling our creativity and finding balance

The advantages

• Speed: Users can quickly and effectively capture their thoughts because it is three times faster than typing.
• Accessibility: Designed with neurodivergent populations in mind, it makes efficient idea capture accessible to a wider range of individuals.
• Accuracy: Preserves the uniqueness of the user’s concepts by eschewing the distortions and hallucinations that are frequently connected with AI.
• Focus: Keeping users in the now lessens the cognitive strain that comes with writing by hand or typing.

Using AI-powered transcription tools to capture free-form spoken phrases is the most straightforward approach to organising and utilising complicated concepts. It helps people become more creative and productive by removing the obstacles that come with using traditional methods. This guarantees that no idea is wasted and that every notion has the potential to be realised.

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

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

Image credit: Canva Pro

This article was first published on July 22, 2024

The post Unlocking your creativity and productivity with AI content tools appeared first on e27.

In recent weeks there’s been a number of stories circulating about the demand for Prompt Engineers, one of the hottest new job roles in this fuzzy and sometimes contradictory job market. After all, on one hand, we’re seeing mass layoffs across major tech companies, while on the other we’re witnessing the creation of “AI Whisperer” roles very few had heard of just six months ago.

What’s particularly interesting is the lack of computer engineering or advanced coding expertise these roles are requiring.

It got me thinking – firstly, how soon will it be until it’s commonplace for Prompt Engineers to have an integral seat at the table in all major corporations and if so, in which departments?

And secondly, what generative AI quick wins can business leaders, regardless of their seniority, be using right now in their communications? But how can they do so without losing touch with employees?

Zoning in on the latter, here are three ways the senior leadership at Bud Communications has been using generative AI with employees:

Greater brevity in written communications

Our core business is media relations and we know from industry research that sending a journalist with lead paragraphs of between 50-79 words score the best engagement. But in reality, this need for brevity also applies across our internal communications.

Also Read: Is ChatGPT a great invention or is it being ‘hyped’?

For example, if there’s a new company policy I want to make for the team, it’s likely the draft is convoluted and perhaps a tad dry. I want the team to read this communication and react to it, so I use ChatGPT to condense and pep up the message.

Another example: I’m writing a synopsis for an event’s fireside chat I’m chairing. The process is the same, I want to cut out some of the superlative fluff from my prose, but it requires practice and some trial/error to work out the right prompts to get the optimal outcome.

Aligning teams during complex creative or strategy brainstorms

Creative brainstorms are energising for teams, but unless chaired correctly, the end outcome can be several hours of time and a lot of tangential ideas with no clear way forward. This is no different from strategy meetings, where stakeholders can have conflicting ideas aligned with the goals of their own business units.

For the past 12 months or so, we’ve been using Otter.ai to take meeting notes during virtual and in-person meetings, with the tool capturing notes and generating a summary at the end. Alternatively, for the latter ChatGPT has also proven a useful tool to capture the high-level themes and suggested next steps.

Cranking up the visual quality of storytelling in presentations

Not everyone enjoys creating decks; I am one of them. But then SaaS platforms like Pitch and Canva came along and made the art of crafting engaging presentations actually fun.

Also Read: Generative AI and inclusive branding: Are we there yet?

If you’re a senior business leader, you’ve probably been in a situation late at night, hunched over your laptop trying to think of the most compelling image to ramp up the visual quality of your all-hands meeting presentation.

Canva launched a relatively basic text-to-image AI tool at the end of last year, but one of the generative AI (text-to-image) tools a lot of creatives are getting really excited about is Midjourney. With a few well-written prompts, you’ll have already forgotten about those “smiling employees in the office” stock images you’ve been using for years (personal anecdote).

Don’t leave authenticity behind

The list of use cases goes on, from creating a topline structure for a last-minute presentation to iterating with written headlines to spark new content approaches, like when posting on a company intranet or employee experience app.

The main takeaway from this post is that as a leader, there are some incredible use cases where generative AI can increase efficiency and help you focus on the stuff that matters. But the pitfall is overuse. One of the biggest corporate learnings from the pandemic was that employees crave authentic communication from their leaders, which is unsanitised and most importantly, human.

Tl;dr: use this groundbreaking new technology wisely. Treat it like a cross between a sparring partner and a bit part project manager. You’ve likely spent your whole career honing a communications/leadership style that’s authentic to your personality and values. That groundwork is as important as ever to motivate and inspire your team. 

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

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

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This article was first published on April 26, 2023

The post How business leaders can utilise generative AI in employee communications appeared first on e27.

The Hometown team

Bangladesh’s startup ecosystem has shown significant growth, particularly in its major hub, Dhaka. This growth is driven by its large young population, increasing internet penetration, and growing digital adoption. The South Asian country has over 2,500 active startups, primarily focused on e-commerce, fintech, and logistics sectors.

One of Bangaldesh’s notable success stories is GoZayaan, an online travel agency with operations in Pakistan. This company has now launched a new app, Hometown, to revolutionise the lives of migrant workers living in countries like Singapore.

Hometown is a platform dedicated to empowering this underserved community by providing them with accessible travel and financial services.

Also Read: Wavemaker, Airbnb execs join US$2.6M financing round of B’desh OTA startup Go Zayaan

Founded by Ridwan Hafiz, Hometown is driven by a mission: to combat exploitation and build better futures for those who contribute significantly to the economy but are often overlooked.

The Genesis of Hometown

GoZayaan recognised a critical gap in the market. Migrant workers, who account for 60 per cent of international travel from Bangladesh, were frequently subjected to excessive markups and scams by unscrupulous travel agents.

“We realised we were missing a crucial segment,” Ridwan Hafiz tells e27. “Despite contributing 60 per cent of international travel from Bangladesh, these individuals—who earn the least—often end up paying the most”.

This realisation led to the birth of Hometown, a platform designed to provide fair and transparent services to this deserving community.

The app’s development was shaped by key insights into the challenges faced by migrant workers:

Exploitation: Research revealed that 32 per cent of migrant workers have been scammed at least once, often paying 20 per cent more than the standard market price due to hidden markups. Hometown’s solution is simple: fair pricing with no exploitation.

Digital access vs. payment barriers: While smartphone penetration is nearly 100 per cent, online payment adoption is close to zero. Migrant workers often find digital interfaces overwhelming. Hometown addresses this with an intuitive, guided user experience that removes unnecessary complexities.

Language barrier: Many migrant workers struggle with English, which discourages them from using digital platforms. Hometown is built entirely in Bangla, and a dedicated hotline provides native-language support.

Organic adoption and success

According to Hafiz, nearly 100 per cent of Singapore’s 110,000 Bangladeshi workers have downloaded the app without marketing spend. This was achieved by partnering with community leaders who recognised the value of Hometown in solving long-standing problems.

Also Read: FlyNow, PayLater: Fly0 seeks to transform travel finance for the underserved in Bangladesh

“When you build something that genuinely improves people’s lives, they’ll do the marketing for you,” notes Hafiz.

With a 38 per cent market share for Singapore-Bangladesh flights and US$5.5 million per month in remittance processing, Hometown’s success is driven by trust, affordability, and community-centric design.

Expanding horizons

Following its success in Singapore, Hometown is expanding to Malaysia and Saudi Arabia. While these larger markets present challenges such as diverse regulations, cash dependency and fragmented communities, they also offer massive scale and better value propositions. Hometown plans to replicate its successful playbook, starting with flights, then remittance services, and eventually lending products.

The future of Hometown: Lending and empowerment

Hometown is set to launch a lending product to disrupt predatory lending cycles. Migrant workers often resort to loan sharks with exorbitant interest rates to secure jobs abroad, trapping them in a never-ending repayment loop.

Hometown’s lending product will offer formal loans in Bangladesh, repayable via remittances, providing lower interest rates and building credit profiles for workers. “We are breaking the debt cycle and turning migrant workers into bankable, empowered customers,” says Hafiz.

Hometown prioritises unit economics and organic adoption for sustainable growth. By validating demand in smaller markets before scaling, the company minimises risk. Strategic partnerships with remittance players, banks, and financial institutions are crucial for scaling and product diversification.

Challenging traditional narratives

Hometown’s journey challenges traditional narratives around fintech and travel tech for underserved communities. By tailoring solutions to the realities of migrant workers, GoZayaan has achieved rapid adoption and profitability, proving that this demographic is a viable market.

As Hometown expands its reach across Southeast Asia and the Gulf Cooperation Council, it wants to rewrite the narrative for millions, transforming them from “disposable labour” to empowered individuals who can invest in their futures.

The post Serving the unbanked: How Hometown is changing the narrative for migrant workers appeared first on e27.

My observations on February 17, 2025: The global financial scene is currently walking a tightrope between cautious optimism and palpable tension, reflected in the varied outcomes of US stock markets and a clear decline in US. Treasury yields. This situation has developed amidst crucial economic data and political statements that could steer market trends in the near future.

Starting with the US markets, the MSCI US index barely moved, registering just a +0.01 per cent increase, reflecting a tentative market sentiment. Meanwhile, the yield on the 10-year US Treasury note fell by 2 basis points to end the week at 4.48per cent, marking its fifth consecutive weekly decline, a trend not seen since 2021.

This decline occurred amidst a stark miss in US retail sales, which dropped by 0.9 per cent against expectations of a mere 0.1 per cent decrease. This drop to the lowest level in nearly two years suggests that consumers might have preemptively increased their spending in the last quarter of the previous year, possibly in anticipation of price hikes due to looming tariffs.

The political arena added another layer of complexity with President Trump’s announcement regarding new automobile tariffs set for April 2. The lack of specifics on these tariffs has left markets in suspense, with investors and businesses alike trying to forecast the potential impact on both domestic and global trade dynamics. The response from the European Union was swift, with German Chancellor Scholz indicating a readiness to retaliate against any US tariffs, yet expressing a preference for negotiation to avoid escalating into a full-blown trade war.

Also Read: The shifting sands of global trade and the cryptocurrency surge

Shifting focus to Asia, Japan’s economy showed resilience, expanding for the third consecutive quarter, surpassing expectations. This performance has bolstered expectations that the Bank of Japan might continue its trajectory towards further rate hikes, a move that could influence global investment flows given Japan’s significant role in the world economy.

The currency markets reflected this global uncertainty with the US Dollar Index declining by 0.6 per cent, indicating a softening of the dollar against other major currencies. Gold, often seen as a safe-haven asset, experienced a retreat of 1.6 per cent, perhaps suggesting a nuanced investor response to the current economic indicators and geopolitical developments.

In the oil sector, Brent crude saw a 0.4 per cent decline, influenced by anticipated increases in oil supply from Iraq and Russia, with geopolitical manoeuvres by the US aimed at resolving the conflict in Ukraine potentially impacting future oil prices.

In stock markets, the Hang Seng China Enterprises Index (HSCEI) surged by 4.1 per cent, closing above 8,300, hitting a two-year high driven by optimism in tech stocks following China’s advancements in generative AI. This has implications not only for tech sectors but also for investor sentiment towards emerging technologies and their potential to drive economic growth.

However, amidst these economic and market movements, a peculiar narrative involving cryptocurrency and politics has emerged, particularly with politicians inadvertently or directly linked to what are colloquially known as “rugpulls” or scams in the crypto space. The case of Argentina’s President Javier Milei recommending a little-known cryptocurrency, US$LIBRE, which saw a dramatic rise and then a precipitous fall, has sparked controversy. This incident has led to discussions about impeachment by the opposition, highlighting the perilous intersection of political influence and cryptocurrency markets.

Further investigation by crypto analysts like Bubblemaps has revealed potential connections between the creators of US$LIBRE and other meme coins, including one associated with the US First Lady, Melania Trump, under the ticker #MELANIA. This network of seemingly related cryptocurrencies raises questions about the integrity of these ventures, suggesting a coordinated effort to capitalise on political figures’ names for financial gain. The cautionary advice from these events is clear: the crypto market, especially around meme coins or those endorsed by public figures without substantial backing, remains fraught with risks of manipulation and sudden value drops.

Also Read: APAC’s surge in green tech is driving a global movement

Adding to the crypto narrative, the withdrawal of over US$2.45 billion worth of Ethereum from exchanges within a short span indicates a strong accumulation trend among investors, possibly signalling confidence in Ethereum’s long-term value or a strategic move to reduce supply on trading platforms, which could theoretically lead to price increases due to reduced sell pressure.

In conclusion, the current global financial environment is characterised by a mix of economic data interpretation, political announcements, and the volatile yet intriguing world of cryptocurrencies. Investors are navigating through this landscape with caution, balancing between hopeful economic signals from regions like Japan and the potential disruptions from trade policies and crypto market manipulations.

The advice, particularly in the realm of cryptocurrencies linked to political figures, remains to steer clear of investments that lack solid fundamentals or where the potential for manipulation seems high. This complex interplay of economic data, policy announcements, and emerging digital asset trends underscores the need for thorough research and a cautious investment strategy in these uncertain times.

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Raising capital is one of the biggest hurdles for startups. With fewer than one per cent of startups securing venture capital, most turn to angel investors. However, founders often struggle with finding relevant investors in their industry and geography, preparing professional investor-ready documents such as pitch decks and business plans, and effectively reaching out and securing investor meetings. Without the right connections and tools, many startups miss out on funding opportunities.

The fundraising process can be overwhelming, especially for early-stage startups that may not have prior experience navigating the investment landscape. Understanding how to craft a compelling pitch, what kind of financials investors want to see, and how to establish credibility in a crowded market are critical challenges. Many founders also lack the time or resources to build relationships with investors, which further reduces their chances of successfully raising capital.

How to solve these challenges

Startups need a structured and efficient approach to fundraising. This means having access to a vast network of relevant investors, a streamlined and technology-driven process to match investors with startups, and expert guidance on pitch preparation, outreach, and deal negotiation. Innovative financial technology solutions can bridge the gap, making fundraising more accessible and effective.

The key to successful fundraising lies in efficiency and strategy. A well-organised data room, consisting of all the necessary documents, helps startups make a strong first impression. A targeted outreach strategy ensures that startups approach the right investors who align with their industry and funding stage. Moreover, leveraging technology can automate tedious processes such as investor research and email outreach, allowing founders to focus on building their businesses while still actively fundraising.

Also read: e27 Startup Milestones: 6 inspiring milestones you need to know this week

Get to know Marquee Equity and their mission to address these challenges

Marquee Equity is a software-as-a-service driven investment banking platform that helps startups raise capital efficiently. Founded in 2016 by Ash Narain and Raj Kabir, Marquee Equity simplifies the fundraising process by leveraging both human expertise and artificial intelligence-driven technology.

With a team of more than one hundred financial experts, advisors, and designers, the company provides startups with comprehensive support. This includes investor research, where they identify the right venture capitalists, angel investors, and family offices. They also assist with data room setup by creating pitch decks, business plans, and other fundraising materials. Their automated investor outreach system utilises artificial intelligence-driven tools to connect startups with the most relevant investors. Additionally, they offer deal negotiation support to help founders secure the best possible terms for their funding agreements.

Since its inception, Marquee Equity has facilitated over 2,500 transactions annually across various industries, including financial technology, healthcare, information technology services, and telecommunications. The company’s mission is to democratise access to capital, ensuring that entrepreneurs, regardless of their stage, have the tools and support needed to connect with investors globally.

Empowering businesses in technology and finance

Marquee has been instrumental in supporting companies at the forefront of technological advancements and financial innovation. From SaaS and AI-driven platforms to fintech and investment solutions, businesses like Spinar America, Affirm First, and Conformance X have leveraged Marquee’s expertise to secure funding and scale.

“To grow, you need money. That’s why we started looking out for venture capital raising funds. We felt like we didn’t have a standard approach to this whole process. [Through Marquee Equity] we have been reaching out to multiple investors mostly across US and Europe, very recently investors in Singapore,” shared Abhijit Sengupta, CEO & Co Founder of Conformance X. “We didn’t have a standard approach to reaching out to investors, which Marquee [Equity] had, with a list of 20,000 plus investors and VCs across the world.” 

Additionally, fintech leaders such as Vergne Equity are using AI to optimize financial decision-making, proving that Marquee’s investor network extends across the entire financial ecosystem. “We’ve had an amazing collaboration [with Marquee Equity] throughout this whole process,” remarked CEO Jackie Vergne.

Improving funding access for healthcare innovators

Healthcare innovators like BAIBYS are benefiting from Marquee’s deep investor networks. The cutting-edge firm improves IVF success rates through AI-driven technology. “Currently, BAIBYS is seeking 1 million dollars to complete a seed extension round that started earlier this year,” shared CEO Dr. Yaron Silberman. “With Marquee Capital we accessed immediately, effortlessly, thousands of potential investors globally. What is very nice about this process is that it’s all running without our attention allowing us to focus on what we do best while Marquee Equity is providing useful links to investors.”

Other healthcare firms taking advantage of Marquee Equity’s services are ARA Health Specialists and  The Econophy Group. The former focuses on workplace wellness, using AI to prevent burnout and promote long-term well-being. The latter on the other hand is pioneering molecular imaging for more accurate medical diagnostics. “We’re working on what we believe is one of the most critical junctions in diagnostic technology that’s going to be going on in the world for the next decade, and Marquee [Equity] is part of that story,” said MD Billy, CEO of The Econophy Group.

Helping consumer and lifestyle brands scale

Marquee has helped e-commerce ventures, luxury brands, and HR tech companies refine their business models and attract capital. Vegan Dukan is reshaping the plant-based grocery market while Ginik merges high fashion with smart technology. “It really amazed me how [Marquee Equity] started from scratch. […] To date, [Marquee Equity] is the only company that has led me to talk to some angel investors and venture capitalists,” remarked Founder & CEO Ginik I. Chukwujama.

Meanwhile, platforms like HireHost and InRadius are transforming recruitment with AI and location-based hiring, reinforcing Marquee’s role in driving business success across industries. Like Silberman, Mikayla Fedler, COO of Hirehost, commented on the importance of Marquee Equity’s platform. “They were able to get our campaign set up for us. Things are getting done on the investing side while we’re doing our day in and day out [operations]. It takes a load off because that’s a lot of time.”

On the other hand, Darshan Vyas, Founder of InRadius, emphasised the importance of seeing things from an investor’s perspective. “I come from a consulting background and we also do financial modeling and planning for our clients, but it’s always good to have an external view of how things are. [Marquee Equity] was able to bring that value addition,” he shared.

Also read: Unlocking marketing success for startups and small businesses: Strategies for excellence

What sets Marquee Equity apart

Marquee Equity’s impact spans industries, helping companies not only secure funding but also gain critical market insights, investor connections, and strategic direction. Whether in fintech, healthcare, or consumer goods, businesses trust Marquee to navigate the fundraising process and unlock new growth opportunities.

Unlike traditional investment banks, Marquee Equity combines the expertise of human advisors with artificial intelligence-powered investor matching technology. Their key differentiators include access to a vast investor network comprising over 32,000 investors worldwide. Their artificial intelligence-driven matchmaking ensures that startups connect with investors who are most likely to fund them. Additionally, their automated email outreach system sends personalised pitches and tracks responses to optimise engagement.

This unique model makes Marquee Equity an ideal partner for startups looking to secure funding in a smarter, faster, and more effective way. With its combination of expert advisory and innovative technology, the company provides a competitive edge to startups in the increasingly difficult landscape of venture funding. By bridging the gap between innovative companies and forward-thinking investors, Marquee Equity continues to shape the future of global business—one successful deal at a time.

For more information, visit Marquee Equity’s website.

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This article is produced by the e27 team, sponsored by Marquee Equity

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Reach out to us here to get started.

Featured Image Credit: Marquee Equity

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[L-R] Nexmedis co-founders Dr Almer Deta Tarandha, Yehuda Dani Utomo, and Matilda Narulita

Nexmedis, an Indonesian AI-powered health information system (HIS) startup, has received an undisclosed amount of funding co-led by East Ventures and Forge Ventures.

The funding will enable Nexmedis to broaden its services to hospitals across Indonesia and launch tailored AI solutions to address the country’s healthcare challenges.

The startup also aims to streamline healthcare facilities’ operations, advance clinical services, and improve clinical outcomes.

Founded in 2023 by Yehuda Dani Utomo, Matilda Narulita, and Dr Almer Deta Tarandha, Nexmedis integrates computer science, management consulting, and medicine to foster healthcare innovation.

Also Read: Funding drought in SEA healthtech: 2024 marks worst year in seven years

The company’s AI-powered HIS enhances the entire patient and healthcare provider journey. Its Clinical Decision Support (CDS) solution aids healthcare professionals by offering diagnostic recommendations using ICD-10 codes (International Classification of Diseases 10th Revision, a universal code for diseases). It enables tailored treatment suggestions and streamlined insurance claims processing for Indonesia’s Social Security Agency on Health (BPJS) and private insurers.

Nexmedis is also developing an AI-powered transcription tool that converts voice notes and summarises patient-doctor conversations into structured digital records. This system aims to minimise paperwork and streamline operations, enabling healthcare providers to focus more on patient care. The tool is slated for launch soon.

Yehuda Dani Utomo, co-founder and CEO of Nexmedis, stated that the investment would be a “game-changer” in innovating and delivering AI-driven solutions to healthcare, bridging the healthcare accessibility gap through technology.

Since August 2023, Nexmedis has served over 400 healthcare facilities. Its medical diagnostics AI has been recognised by the Ministry of Health in the Regulatory Sandbox programme. Nexmedis has also established official partnerships with the Ministry of Communications and Information Technology for AI-powered health digitalisation and with leading institutions like Gadjah Mada University as a research partner.

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