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Venture Capital / BD startups: The Good, the Bad, the Ugly

« Last post by Maliha Islam on July 01, 2024, 05:39:26 PM »

BD startups: The Good, the Bad, the Ugly

In recent years, Bangladesh has emerged as a vibrant hub for startups, driven by rapid economic growth, a young and tech-savvy population, and improvements in digital infrastructure. Instead of opening another convenience store like 7/11, Chaldal, an online grocery delivery service, emerged.

Instead of another traditional healthcare provider like Medinova, Praava Health, a personalized healthcare provider, was established. Instead of another coaching center like MAABs, the innovative online educational platform 10 Minute School took shape. These startups represent cost-effective, scalable solutions suitable for the next few decades.

THE GOOD: The government has recognized the pivotal role of startups in economic growth and has implemented policies to foster innovation and entrepreneurship. The "Digital Bangladesh" initiative and the ICT Innovation Fund create a fertile ground for the next generation of entrepreneurs. The rapid expansion of digital connectivity, with smartphone penetration reaching 40% in 2020 and internet users surpassing 100 million, has created a vast market for digital services.

Notable startups like Pathao, an on-demand ride-sharing and logistics company, and ShopUp, a B2B commerce platform for small businesses, are transforming Bangladesh's economic landscape. These startups, along with others like bKash, a mobile financial service provider, and Ifarmer, an agritech startup, showcase the potential of Bangladeshi innovation.

THE BAD: Despite the positive momentum, Bangladeshi startups face significant hurdles in attracting investments. One critical barrier is the lack of venture capital and angel investment networks.

According to the World Bank, only 33% of startups in Bangladesh have access to formal financing, compared to 52% in India. Many promising startups have struggled to secure sufficient funding to scale their businesses.

Banks' conservative lending practices also limit financial avenues for startups. A survey by the Bangladesh Bank reveals that traditional banks view startups as high-risk ventures, resulting in stringent loan conditions. Praava Health has faced difficulties in securing loans to scale its operations.

Another major challenge is the lack of experienced mentors and advisors. Establishing mentorship programs and connecting startups with industry veterans can help bridge this gap. Ifarmer has benefited from informal mentorship but would greatly benefit from a structured program.

THE UGLY: Regulatory frameworks in Bangladesh often hinder foreign investment. The World Bank's Ease of Doing Business index ranks Bangladesh at 168th out of 190 countries. Complicated procedures and bureaucratic red tape deter many foreign investors. The lack of laws for setting up a company for foreign investment in offshore locations like Singapore or Dubai complicates international expansion for startups like Pathao. Foreign investors are not interested mainly because of the need for an exit route. It's not just tricky to invest in Bangladesh; it's also tougher to make an exit.

The perception of high risk associated with investing in Bangladeshi startups deters potential investors. To mitigate these concerns, the government and private sector must enhance transparency and ensure political stability. Bkash and ShopUp have gained some investor confidence, but broader sector support is necessary.

THE FUTURE: Despite these challenges, the future of Bangladesh's startup ecosystem looks promising. With ongoing government support, continued investments in digital infrastructure, and a growing pool of skilled professionals, Bangladesh is well-positioned to become a prominent startup hub in Asia.

Looking at examples from around the world, we can draw parallels and gain inspiration. In India, Flipkart began as an online bookstore and grew into a massive e-commerce platform. Similarly, Gojek in Indonesia started as a ride-hailing service and expanded into a super app offering a multitude of services. Can ShopUp be the example from Bangladesh that follows a similar trajectory?

The growth of these startups not only contributes to the economy but also catalyzes broader societal changes. For instance, bKash has improved financial inclusion by providing banking services to the unbanked population. ShopUp integrates logistics, banking, and inventory management for small businesses, enabling over 500,000 SMEs to streamline operations. Ifarmer connects farmers with investors and markets, enhancing agricultural productivity and profitability.

Bangladesh stands on the cusp of a startup revolution. With the right mix of government support, private investment, and educational reforms, the country can harness its youthful energy and innovative spirit to become a global example of startup success. For investors who missed the train in India or Indonesia, Bangladesh is the next big thing that they need to hop on right now. In 10 years, it will become huge. Investors looking for the next big opportunity should keep an eye on Bangladesh as it transforms into one of the largest startup hubs in Asia.

# Seyed Mosayeb Alam serves as Chief of Staff at ShopUp, Bangladesh.

Reference: https://today.thefinancialexpress.com.bd/views-reviews/bd-startups-the-good-the-bad-the-ugly-1719759691

Smart Business Idea / CREATING A BILLION-DOLLAR BUSINESS FROM SCRATCH WITH LIZ ELTING

« Last post by Maliha Islam on October 10, 2023, 12:11:32 PM »

CREATING A BILLION-DOLLAR BUSINESS

When Liz Elting was living out of a dorm room in her 20s, she saw a big gap in the translation business. She decided to fill it herself.

It’s the time of year when we put on our cozy sweaters, watch the leaves change, and grab a warm chai latte with a friend… It’s also when millions of college students have stepped onto campus for the first time. Those first jittery months of college are often the moment when we first start to dream up how we want to make our mark on the world. While some of us changed majors many times as we decided what path we wanted to take, others were laser-focused on their futures from day one. We’ve all heard stories of successful entrepreneurs who got their start in their college dorm rooms — Bill Gates, Mark Zuckerberg, and Liz Elting.

Liz Elting is the founder of Trans Perfect — now the world’s largest language translation company — which she launched in an NYU dorm room in 1992 without any outside funding. Her mission was simple: to provide the highest quality language services to leading organizations worldwide.

The company now has over $1 billion in revenue and offices in more than 100 cities worldwide. Liz shares what she learned about creating a company from nothing in her new book: “Dream Big and Win: Translating Power Into Purpose and Creating a Billion-Dollar Business.”

Liz loved learning new languages from an early age, and grew up studying Portuguese, French, Spanish, and Latin. After college, she moved to New York and immediately got a job at a translation company — but quickly started to notice that things could be done better. “A client would call up and say, ‘I need this five-page document translated, how long will it take?’ And I would say a week but I knew it could be done in one or two days if that’s what they really needed,” she says, “And I also thought we needed a local presence because our clients were around the world and I could envision a company with offices around the world.”

She went to business school and after a short stint on Wall Street, decided to create the translation business of her dreams. The only problem was funding. “I thought, we are not in a position to work on getting funding. We don’t have time to create this complicated business plan. We just need to sell,” Liz said. So that’s precisely what she focused on from day one – making 300 phone calls in a day, and working 120-hour weeks until her company was able to move into an office space and hire its first employees.

Listen to the episode to hear the qualities Liz Elting was looking for when hiring her core team of employees, why she decided not to take venture capital money, and what lessons she learned from eventually selling the business to her ex-fiancé.

How She Does It is bringing you stories like these, that celebrate female risk-taking in business and beyond, every Monday. Listen and subscribe on Apple Podcasts! And don’t forget to share with a friend if you’re loving the show!

Source: https://hermoney.com/earn/entrepreneurship/creating-a-billion-dollar-business-from-scratch-with-liz-elting-podcast-16/

News Paper Articles / Entrepreneurial cognition: A key factor that differentiates successful entrepren

« Last post by Maliha Islam on October 08, 2023, 11:23:47 AM »

Entrepreneurial cognition: A key factor that differentiates successful entrepreneurs

Entrepreneurial cognition is a field of study that delves into the cognitive processes, mental frameworks, and decision-making mechanisms that drive entrepreneurial behavior. It is the knowledge structures that people use to make assessments, judgments or decisions involving opportunity evaluation, venture creation and growth. In the dynamic and competitive world of entrepreneurship, understanding the mindset of successful entrepreneurs becomes paramount to unlock the secrets behind their achievements. The key factor that differentiates successful entrepreneurs from unsuccessful or less successful entrepreneurs is the entrepreneurial cognition.

The field of entrepreneurship has been studied from a psychological perspective but little attention has been given to cognitive perspective. The cognitive perspective in entrepreneurship emphasizes the role of the human mind in shaping entrepreneurial behavior. The cognitive approach involves studying specific types of cognitions that play a significant role in explaining entrepreneurial behavior, business success, and how entrepreneurs can be distinguished from non-entrepreneurs. Researchers adopting this approach emphasize that cognitive aspects are crucial in setting entrepreneurs apart from others. These cognitive elements encompass a wide spectrum, including beliefs, values, cognitive styles, and mental processes. By delving into these cognitive factors, researchers seek to uncover the unique mindset and thought patterns that drive entrepreneurial individuals to achieve their goals and stand out in the business world.

The main cognitive factors of entrepreneurship include “self-efficacy”, “scripts” and “cognitive styles”. Self Efficacy is an important predictor of why individuals with the exactly same learned skill act differently. Defined by Bandura, self efficacy is “one’s beliefs in their abilities to perform a certain level of performance or desired outcomes that influence situations that affect their lives”. Scripts on the other hand, refers to the structured and organized knowledge that an individual possesses about a specific concept; a comprehensive mental framework that aids in understanding and processing information related to that particular concept. An entrepreneurial expert becomes an expert because of the knowledge structure or scripts about a particular domain, a factor that differentiates him from novices. Cognitive Styles refers to an individual’s unique manner of perceiving and interpreting environmental stimuli. It encompasses how people organize and utilize information derived from their surroundings to inform and direct their actions. Individuals with a knowing style prefer to analyze and understand things based on facts and data. They have a strong desire to know precisely how things work and remember many details. They are focused on completing tasks accurately and excel at solving complex problems as long as there is a clear and logical solution available.

Entrepreneurship, from a cognitive perspective, explains an individual’s behavior regarding the identification of opportunities for starting and growing businesses. Cognitive ability of successful entrepreneurs allows them to spot gaps in the market, foresee emerging trends, and connect seemingly unrelated information to create innovative solutions. Where entrepreneurship inherently involves taking risk, cognitive factors such as risk tolerance, risk perception, and the ability to evaluate potential outcomes play a crucial role in the decision-making process. Correspondingly, when it comes to decision making, entrepreneurs take into consideration rationality, intuition, and heuristics to guide their decisions effectively. Another important aspect is the creative thinking of entrepreneurs. Entrepreneurs who think outside of the box and embrace creativity can develop groundbreaking products and services that disrupt industries and create new market niches.

Another significant deriver of entrepreneurial success is experience. Kolb’s experiential learning theory highlights the significant influence of our experiences, encompassing our thoughts, emotions, and environment, on the process of learning. In this theory, learning is not a passive activity but an active and dynamic process that involves engaging with real-life experiences and reflecting on them to gain insights and knowledge. It emphasizes that our perceptions, emotions, and interactions with the environment all play essential roles in shaping how we absorb and internalize new information, leading to a more holistic and transformative learning experience. Since decision making is based on the knowledge acquired through the learning process, and the fact that there is no perfect information makes Kolb’s experiential learning rather more relevant which combines previously gained knowledge, perception, cognition and experience.

Human cognitive functioning in decision making processes can often lead to biases, errors or limitations. Research on heuristics (cognitive shortcuts or simplifying strategies that individuals employ to handle and process information, aiming to minimize uncertainty and facilitate decision-making) states that entrepreneurs using logic while coming across heuristics turn out to be more orthodox in their decision making. Entrepreneurs can be influenced by several cognitive biases that impact their decision-making processes. The overconfidence bias leads them to overestimate their abilities and the likelihood of success, potentially resulting in risky decisions and underestimation of challenges. Confirmation bias causes entrepreneurs to seek information that aligns with their existing beliefs, hindering their ability to identify potential pitfalls or consider alternative opportunities. Loss aversion makes entrepreneurs more sensitive to potential losses than gains, making them risk-averse and reluctant to take necessary risks. The anchoring effect causes entrepreneurs to rely heavily on the first piece of information they encounter, potentially skewing their judgment and leading to suboptimal choices. These biases can significantly shape an entrepreneur’s behavior and outcomes in the business world.

The world of entrepreneurship is driven by innovation, risk-taking, and relentless pursuit of opportunities. Behind every successful venture lies the entrepreneurial cognition – the unique way entrepreneurs think, perceive, and process information. Entrepreneurs have been recognized for their unique ability to process information, leading to the development of the concept of “entrepreneurial cognition.” This distinctive cognitive capacity has become a defining characteristic that sets entrepreneurs apart from other individuals in the business realm. Understanding cognitive perspective on entrepreneurship is vital for aspiring entrepreneurs, educators, policymakers, and researchers to unlock the secrets of successful entrepreneurship and foster a thriving entrepreneurial ecosystem. To conclude, entrepreneurial cognition provides a fascinating insight into the minds of successful entrepreneurs. By understanding the cognitive processes involved in opportunity recognition, risk management, decision-making, creativity, and resilience, aspiring entrepreneurs can develop their cognitive skills and increase their chances of success.

Source: https://timesofindia.indiatimes.com/blogs/voices/entrepreneurial-cognition-a-key-factor-that-differentiates-successful-entrepreneurs/

Smart Business Idea / The European Angel Investment Summit 2023: Health

« Last post by Maliha Islam on October 07, 2023, 11:07:26 AM »

The European Angel Investment Summit 2023: Health

NUA Surgical
NUA Surgical is committed to innovating surgical solutions in obstetrics and gynecology. With a founding team boasting over 50 years of combined experience, they collaborate with global key opinion leaders to address critical unmet clinical needs.

Link: https://nuasurgical.com/

XTremedy Medical
XTremedy Medical is addressing the critical issue of Diabetic Foot Ulcers by developing innovative surgical technology that effectively treats these infections. This technology aims to reduce the need for multiple surgeries and improve patient outcomes.

Link: https://xtremedymedical.com/

LoValTech
LoValTech is a deeptech startup created in January 2022 to relay the academic research of the University of Tours and INRAE to bring the first vaccine candidate to its clinical phases. Winner of the i-Lab and France 2030 competitions, the company develops next-generation vaccines. These vaccNasal proteins are able to better protect all populations against infectious diseases, such as COVID-19, by inducing a dual mucosal and systemic immune response, which not only protects against severe forms but also blocks transmission of the virus.

Link: https://lovaltechnology.com/

Ansana
Ansana produces an intelligent sterilization container technology that ensures sterility and traceability in hospital and industrial processes. With exclusive global patent rights, their technology reduces patient risk, enhances ecological sustainability, and improves operational efficiency by lowering costs.

Link: https://ansana.health/

Source: https://europeanangelsummit.com/startups/

Smart Business Idea / The European Angel Investment Summit 2023: Africa | Powered by AEDIBNET

« Last post by Maliha Islam on October 07, 2023, 10:59:10 AM »

The European Angel Investment Summit 2023: Africa | Powered by AEDIBNET

Prim-U
Prim-U aims to revolutionise the beauty and cosmetics industry by bridging the gap between suppliers and customers. With a focus on natural cosmetic ingredients sourced from Africa, they provide highquality products, support local suppliers, and promote sustainable practices. Additionally, their network of experienced service providers ensures that customers receive top-notch beauty treatments that enhance their well-being.

Link: http://www.prim-u.com/

Kenya Christian School For The Deaf
Interact-ALL is a dual assistive device and digital solution that advances scalable solution that aids acquisition of sign language and improves the literacy skills of early-grade learners. It’s aimed at guaranteeing every deaf and hard-of-hearing children the opportunity to access sign language in early year’s stages and by ensuring that no child is left behind.

Link: http://www.kcsd.co.ke/

Kimodata
Kimodata by Oxford Aptitude Limited is a versatile data collection solution, capturing images, text, numerical data, voice, and location info. It offers services like fieldwork, focus groups, remote data collection, and API integration for diverse applications.

Link: https://kimodata.io/

Twenzao
In Tanzania there is only one bus per 13,200 inhabitants, in a country where intercity travel relies on buses. As a workaround to the inadequate public transport, passengers pay informal travel middlemen on the roadside to wave down car owners driving their way, which is highly unreliable with no safety guarantees and these middlemen take exorbitant cuts. Twenzao bridges this gap through a carpooling application.

Link: https://twenzao.com/

Reslocate
Reslocate utilizes AI matchmaking to help students search for suitable housing, locate student communities, financing, and career opportunities based on their preferences.

Link: https://reslocate.net/

SALUBATA
Salubata pioneers sustainable fashion with modular shoes crafted from repurposed plastic waste. Our cutting-edge carbon decomposition technology takes a leap forward in climate action

Link: http://www.salubataofficial.com/

The Carbon Games
The Carbon Games is revolutionizing climate tech. We provide a premier carpooling app tailored for events and a white-label solution designed for corporates. Pioneering blockchain "insets", we've launched a niche carbon marketplace. Our upcoming solutions include peer-to-peer car rentals and CO2- optimized water routing. Anchored by a unique success-fee B2B2C model, we're driving impactful ecofriendly changes in transportation and sustainability sectors

Link: https://www.thecarbongames.com/

Miivo Mobility
Miivo Mobility is an app that unifies all the sustainable mobility options available in any city in a single application, allowing you to consult, book and, soon, pay for all transports without the need to have different accounts for each one.

In addition, Miivo includes a gamification system that encourages the use of sustainable transport by allowing our users to obtain rewards and discounts in all those businesses with which we collaborate for the simple fact of using the app.

Link: https://www.miivomobility.com/en

GAVO FOODS INTERNATIONAL
Gavo Foods International's solution lies in producing gluten-free keto organic flours and breads from locally sourced raw materials. By partnering with small-holder farmers, the company provides training and support to improve farming practices, resulting in increased crop yields and income. The gluten-free keto organic products offered by Gavo Foods cater to individuals with gluten intolerance, malnourished children, and those striving to maintain a healthier lifestyle.

Link: https://www.gavofoods.co.ke/

Senso
Senso makes it possible for people with hearing loss to receive everyday sounds and lifesaving sounds to their wrists through vibrations and color coded LED lights. This enables a person with a hearing loss to be in control of their lives. Senso wearer receives vibrations and color-coded LED lights of the specific sensor that has picked up the sound.

Link: http://www.senso.co.za/

Source: https://europeanangelsummit.com/startups/

Smart Business Idea / Food Related Ideas

« Last post by Maliha Islam on October 02, 2023, 11:28:50 AM »

Food Related Ideas

Smart Business Idea / The European Angel Investment Summit 2023:Space

« Last post by Maliha Islam on October 02, 2023, 10:46:39 AM »

The European Angel Investment Summit 2023: Space

Orbify
Orbify automates satellite imagery analysis, streamlining the environmental impact measurement as well as the planning & monitoring of climate-positive projects

- Effectively measure, report & verify your NbS projects with remote sensing data-based dashboards

- Efficiently leverage satellite-based data for EUDR due diligence certificates

- Seamlessly integrate geospatial data into your ESG reporting

Link: https://orbify.com/

Sternula
Sternula is a new maritime satellite connectivity provider offering global AIS 2.0 connectivity. We launched our first satellite in 2023, and now we are seeking financing for another 4 satellites.

Digital communication with the ship bridge (like the cockpit of an airplane) has always been difficult, because the risk of cyber attacks prevents the use of open internet. To solve this problem, the VHF Data Exchange System (VDES) was developed by maritime authorities and industry. The technology extends mandatory AIS, and therefore we use the term "AIS 2.0". Sternula is Europe's youngest satellite operator and the world's first commercial provider of satellite-based AIS 2.0 connectivity.
Link: https://www.sternula.com/

Pythom
Pythom Space is developing a complete human-rated space transportation system. First up is orbital rocket Eiger - a small, affordable and ultra-light launch vehicle aimed at serving the rapidly growing small satellite market.

By working in a small team and developing key technologies in-house, Pythom is able to keep down costs and work exceptionally fast. Bringing 150 kg of payload to orbit at a price of 1.2M, Eiger will dramatically lower the cost of access to space for dedicated rockets.

Link: https://www.pythomspace.com/

Devanthro
Devanthro is developing Robody Cares, a full-service care solution combining humanoid robotic avatars with local caregivers to allow elderlies to age at home in dignity instead in a care home.

Devanthro is a robotics and AI trailblazer tackling the global elderly care crisis. Building on 9 years of full-stack robotics R&D and three generations of humanoid robots, the company is setting a new standard for 24/7 elderly care. By augmenting human caregivers with Robodies - advanced robotic avatars - Devanthro offers a groundbreaking solution to caregiver shortages and enhances the quality of life for seniors.

Link: https://www.devanthro.com/

Vyoma
Vyoma is building the operating system of space. With cameras on satellites paired with ML-supported automation services, Vyoma ensures real-time mapping of space objects and safe satellite operations. In short, Vyoma provides the critical infrastructure needed for satellite safety as our orbits get 10-100x busier in the next decade.

A young and agile company based in Germany, Vyoma combines more than a century of expertise in space surveillance with our team and advisory board, all brought together by a passion for space sustainability. Vyoma caters to satellite operators, space reinsurers, defense, and governments across the world.

Link: https://www.vyoma.space/

Starflight Dynamics
We develop the technology to bring heavy industry to space.

Link: https://www.starflight-dynamics.com/

POLARIS
The German aerospace start-up POLARIS Raumflugzeuge GmbH is developing a revolutionary reusable space launch and hypersonic transport system that operates like an aircraft.

Based on more than 30 years of German and European spaceplane research, the development of the spaceplane AURORA began at the German Aerospace Center DLR. Aurora combines aircraft and rocket launcher technologies with a unique vehicle design, and offers a game-changing economic viability as well as opening the door for routine low-cost and safe access to space.

In order to validate the technology and accelerate the spaceplane development, POLARIS has been developing a series of scaled flight demonstrators.

Link: https://www.polaris-raumflugzeuge.de/

MEOSS
MEOSS provides solutions combining satellite imagery and local information for local authorities and their delegates.

Created in October 2018, our start-up is specialized in the creation of services from satellite imagery and map data. MEOSS offers operational decision-making tools for the management and enhancement of territories.

Link: https://meoss.net/en/meoss-maps-earth-observation-satellite-services/

Source: https://europeanangelsummit.com/startups/

Smart Business Idea / The European Angel Investment Summit 2023: Climate Tech

« Last post by Maliha Islam on October 02, 2023, 10:14:52 AM »

The European Angel Investment Summit 2023: Climate Tech

Greenaureus specialises in user-friendly, efficient, and transparent sustainable software for e-commerce and retail. Their offerings empower consumers and companies to combat climate change and prevent greenwashing with selling points, including real-time CO2 offset tracking, affordable CO2 compensation, and robust security via NFT and blockchain tech.

Link:https://www.greenaureus.com/

Hortee facilitates connections between local farmers and consumers, promoting transparency and reducing waste. This sustainable approach cuts carbon emissions, saving 2128 kg CO2eq/user yearly. Hortee offers secure online transactions, AI-driven product recognition, and complete traceability, enhancing your food experience.

Link: https://hortee.co/

Nitrogen Sensing Solutions excels in digital biosensing systems for real-time, high-sensitivity water testing of ammonium, nitrite, and nitrate. Their flagship product, NOxAqua, features disposable sensing strips and a handheld reader. Proprietary software conducts data analysis, delivering results to customers' smart devices.

Link: https://www.nitrogensensing.com/

Source: https://europeanangelsummit.com/startups/

Smart Business Idea / The European Angel Investment Summit 2023 : Fueling Europe's Growth

« Last post by Maliha Islam on October 02, 2023, 10:07:38 AM »

The European Angel Investment Summit 2023: Fueling Europe's Growth

The European Angel Investment Summit taking place in Brussels, on October 10-11, is just around the corner! We have a lineup of 25+ innovative startups and scaleups that will be showcased at the event. Get to know the first batch of our hand-picked companies ahead of the Summit:

Ajinomatrix offers AI-driven sensory analysis technology for the food and beverage industry, enhancing product development and consumer satisfaction. It aids in achieving sustainability goals, reducing resource consumption, and crafting tailored products to meet market demands.

Link: https://www.ajinomatrix.org/

AlongRoute, through using AI models, addresses imprecise ship weather routing and fuel emissions (typically 3-10%). Overcoming physics complexities, it offers precise marine forecasts, improving routing solutions by up to 130%. Aiming for greener, safer, and cost-efficient maritime operations.

Link: https://alongroute.com/

Codeshield empowers cloud development teams to create identity and access management in the public cloud in a secure and efficient manner.

Link: https://codeshield.io/

Intuitivo offers an all-in-one web platform designed to assist educators in test and exercise creation and grading. This innovative tool saves teachers more than 2 working days per month, while also enhancing student motivation and the overall quality of education.

Link: https://intuitivo.pt/en

Joylists empowers creatives using its SaaS features. Users gain access to a media library, editable templates, marketplace components, status updates, followers, highlights, and social media integration. Joylists further supports them by automating tasks like tax returns, content generation, trend prediction, and more.

Link: https://joylists.com/

Neuwo, a contextual AI engine, specializes in content classification and brand safety. Their tech enhances publisher and digital asset manager experiences, enabling non-disruptive advertising. It enriches data with meta tags, relevant content, and IAB taxonomy, aiming to maximize the value of your data.

Link: https://neuwo.ai/

Orbito Travel's mission is to foster an inclusive travel community where individuals with reduced mobility can fully engage in a socially sustainable tourism sector, ensuring equal opportunities for all.

Link: https://orbito.travel/

Racksnet addresses the growing complexity of network automation for Dell, Cisco, HPE Aruba & Huawei by offering cost-effective, AI-powered solutions that independently, securely, and efficiently manage and automate enterprise networks, breaking free from hardware limitations and programming requirements.

Link: https://racksnet.com/en

Senecio, in partnership with pest control company Rentokil, has established an operational factory in Israel under Horizon2020 funding. They distribute sterile mosquitoes to 6 cities, aiming to expand into the EU and US markets. Their solution involves non-biting male mosquitoes that hinder the development of the next generation through sterility.

Link: https://www.senecio-robotics.com/

Source: https://europeanangelsummit.com/startups/

Smart Business Idea / Here are top 10 Singapore start-ups to work for, according to LinkedIn —

« Last post by Maliha Islam on October 01, 2023, 05:27:13 PM »

Here are top 10 Singapore start-ups to work for, according to LinkedIn — most are in fintech

Venture funding has taken a hit since 2022, as investors pull back on capital amid economic headwinds.

According to a report from research firm Tracxn, total funding into Southeast Asian startups fell by 71% to $2.3 billion in the first half of 2023 — compared to the same period one year ago.

Singapore startups attracted at least half of the funding and was the most-funded Southeast Asian city in the region, said the report.

LinkedIn added that the startups that made the list “have trailblazed their way through recent economic and workplace challenges — and managed to stand out to investors and top talent along the way.”

Much like 2022, fintech start-ups made up more than half of the companies on the “LinkedIn Top Start-ups 2023″ list for Singapore.

“This reflects the current needs of Singaporean consumers, who are keen to manage their finances and manage their wealth,” Adrian Tay, the senior editor in Asia for LinkedIn News told CNBC last year.

In compiling the list, LinkedIn drew on in-house data, measuring start-ups based on four aspects — employment growth, jobseeker interest, engagement, and ability to attract talent from LinkedIn’s top companies.

To be eligible, companies had to be headquartered in Singapore, have 50 or more employees. LinkedIn said it also lowered its age criteria from seven years or younger, to five years and below to “feature more companies in their earlier, venture stages of growth.”

Here’s the full list of Singapore’s Top Start-ups 2022.

10. Thunes — Financial services

9. Syfe — Financial services

8. ADDX — Financial services

7. Endowus — Financial services

6. Sleek — Accounting

5. Advance Intelligence Group
Industry: Software development

Full-time headcount: >1400

Most common skills: Business management, digital literacy, project management

Founded in 2016, Advance Intelligence Group is an AI tech startup with a portfolio of products, including buy-now-pay-later platform Atome, e-commerce intelligence platform Ginee, and risk-management platform ADVANCE.AI. According to the company, it has more than 30 million users across its products.

4. GetGo Carsharing
Industry: Software development

Full-time headcount: 167

Most common skills: Digital literacy, data science, project management

New to the list is GetGo Carsharing, a car-sharing service that operates on a pay-per-use model. The company aims to alleviate expenses associated with car ownership, and claims to have accumulated more than 1.8 million bookings thus far.

3. Doctor Anywhere
Industry: Health care

Full-time headcount: >580

Most common skills: Digital literacy, business management, leadership

Doctor Anywhere is a telehealth provider that aims to make health care more accessible. Its mobile app allows patients to consult a doctor quickly from wherever they are. Doctor Anywhere’s services are currently available in 6 countries across Southeast Asia.

2. YouTrip
Industry: Financial services

Full-time headcount: 140

Most common skills: Digital literacy, development tools, project management

YouTrip, another debutant this year, is a fintech startup that aims to reduce foreign transaction and cross-border fees with its multi-currency mobile wallet. Its platform offers users over 150 currencies, enabling convenient currency exchange while on the move.

1. Aspire
Industry: Financial services

Full-time headcount: 437

Most common skills: Digital literacy, business management, leadership, communication

Aspire retains its top spot as the most attractive start-up in Singapore. Founded in 2018, the company offers a range of financial tools for small businesses, including invoicing and money transfers, through an all-in-one platform catered toward entrepreneurs in Southeast Asia. In June, Aspire said it had achieved profitability — three months after closing its $100 million series C funding round.

Source: https://www.cnbc.com/2023/09/26/the-top-10-singapore-start-ups-to-work-in-2023-according-to-linkedin.html