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Photo credit: Wikimedia.

We live in an era of screaming headlines. Social media noise around us ensures that we remain addicted to what is explicit and provocative. Not that which is implied. So we could well be forgiven for assuming that the 2017 India budget did not have anything special in it for the tech or startup industry per se.

But smart entrepreneurs learn to read between the lines. They spot the unstated trend and capitalize on it before everyone else does. In that sense, this budget had a lot to say to tech entrepreneurs who were listening closely.

This government believes tech is the vehicle that can transform India.

What was implicit in the finance minister’s budget speech is that this government believes tech is the vehicle that can transform India. Every single statement had a flavor of how digitization, mobility, and automation would change the status quo for the better. The focus on “JAM” (Jandhan-Aadhaar-Mobile) was clear. (Jandhan is a financial inclusion scheme that lets people open bank accounts even with zero balance, and Aadhaar provides a unique digital ID to every citizen.)

What’s in it for tech entrepreneurs

By now, the government’s desire to encourage e-payment systems is well known, but what also came across was the desire to automate government processes and to reach out to the “last mile” audience, particularly in rural areas. The desire to energize youth and improve governance through the use of technology was stated upfront and the theme repeated itself in every section of the speech.

The “Swayam” platform for virtual learning and certification, the focus on the unified payments interface (UPI) and Bhim app, the announcement of Aadhaar payment schemes linked to 2 million swipe machines, app and web-based automation of defence travel booking and defence pension schemes, geo-tagging of rural employment scheme assets through Bhuvan, the broad initiative to provide high-speed data connectivity to 1,50,000 villages, the “Digi Gaon” project to provide telemedicine, education and skills through digital technology in rural areas … the theme is “tech” all the way!

The time has come to coin the catchphrase – “tech for social change.”

What does this mean for techpreneurs across the world? It means that one of the largest populations in the world is getting ready to embrace and invest into tech infrastructure in a focused and sustained manner, supported by their government. Anecdotal evidence points to the fact that if smart proposals are put in front of the right bureaucrats, things could move very fast. On the other hand, it is still possible to get lost in the slow labyrinths of legacy government organizations. Part of the success will lie in knowing how to access the people who can make things happen quickly.

There was also an interesting announcement of increase in the block period during which startups can avail of their three-year tax holidays. Eligible startups can now avail of this within a block of seven years rather than five, giving a longer runway to carry forward losses, start becoming profitable, and then availing of the tax holiday. The condition of continuous holding of 51% voting rights by promoters has also been relaxed subject to them continuing to hold stake, making it far more practical than before.

Photo credit: Flickr user Ajith Kumar.

Good news for big tech players, too

The government is also willing to professionalize and be accountable, as can be seen from the stated intent to publicly list organizations like IRCTC (Indian railway’s e-ticketing system), which have been trendsetters in digitizing public services. This is good news for the larger tech players as well, who have found it difficult to deal with the government in the past. It is worth noting that in the domestic market, the government has been one of the largest spenders on IT for almost a decade, with its IT spend estimated to touch US$7 billion this year.

Faced with a world where outsourcing is under severe pressure from automation and rising protectionism, the tech industry is bound to look towards the domestic market for at least short-term support. And getting engaged with the various government projects on the anvil may be one strategy that could work for large tech firms and not just the startup ecosystem.

There was some talk of making India an electronics manufacturing hub, but specifics were missing. What we do know is that allocation towards the sector has been raised significantly to over US$100 million and over 250 investment proposals worth almost US$20 billion have apparently been received by the government over the last two years.

See: One more step to ease digital payments in India – a new regulatory board

Interestingly, India also seems to be upping the ante on cyber warfare and cyber readiness with the announcement of a separate “Computer Emergency Response Team” to be set up and financial allocations being made for the same. Cyber security is an area of increasing focus and investment across the world. In the emerging world order, India doesn’t want to be left behind. One can foresee rising investments into this space.

So what does all this mean? I would say it clearly means that “India is open for tech business.” Even more now than ever before! And it is open to the world, not just to local businesses.

But is it also time to coin the catchphrase “tech for social change” and drive it as a focused, industry-wide initiative in India? I would hazard that this government will be very supportive of any such initiative and industry may have much to gain from it as well. Both financially, as well as in social capital and goodwill. Perhaps the time has come.

• This is an opinion piece.

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In a Starbucks in the heart of Bangalore, I sip a double espresso across from Neha Bagaria. She nods towards the upper floor of the cafe.

“We started, by the way, down the road from here,” she recalls, pointing to a coworking space down the street. The day they launched their site, though, the internet was down. “So we all took our laptops and walked to Starbucks. We were upstairs here.”

JobsforHer works like any other jobs and resources site, with a twist.

She recounts the excitement of the unknown in that moment. Neha and her team – a group of women you could count on one hand – didn’t know exactly what they were doing, but they knew they were excited.

Founded on March 8, 2015 – International Women’s Day – Neha’s portal JobsforHer functions like any other jobs and resources site. With a twist: it’s specifically for women who have taken a break from the workforce – for motherhood, for example – and want to pick up a job again.

See: Sheroes helps Indian women get back into the workforce

Sprung from experience

Neha Bagaria, founder of JobsforHer. Photo Credit: JobsforHer.

Neha had the idea for JobsforHer after her own experience with motherhood. A Wharton graduate in finance, marketing, and information systems, she was running her own educational center in Mumbai. When she got married, she shut shop and moved to Bangalore with her husband, where she oversaw financing and marketing strategy at his pharmaceutical manufacturing firm nearly right up until the birth of her first child.

It was a shame that not everyone had that opportunity.

“I was like, yeah, I’m not going back to work,” she tells Tech in Asia. Three and a half years later, when her second child was half a year old, she found herself wanting to be back in the workforce.

“I need to get back to work to become the person I used to be, the person I know,” she remembers thinking. “I realize that, to be a better mother, I need to be a more happy and fulfilled person.” For her, that meant employment. She took up her old position and loved it – she was putting in hours from home at something she truly enjoyed, and she found that she and her family were happier for it.

It was a shame, she decided, that not everyone had that opportunity.

Why it takes hard work to get back to work

Only 25 percent of India’s country workforce is female, despite more women pursuing higher education than before. A significant portion opts for motherhood and doesn’t return, adding to women leaving India’s workforce faster than they come in.

Not every woman wants to go back to work after a break, but the obstacles for those who do are seemingly endless.

Alicia Florrick, the titular character of The Good Wife, returns to work in her 40s, and finds herself working among people half her age.

Neha recalls listening to her friends’ and colleagues’ experiences: a woman returning to a former position means working with colleagues who have been promoted ahead of her, if employers will even take her back. Someone who’s taken a break, many bosses reason, might take a break again – she might not be serious about her career because her children are more important. Meanwhile, the employee is left to wonder who will take care of her children during the day.

The obstacles for women reentering the workforce are seemingly endless.

Other reasons are more psychologically rooted and something that Neha expresses feeling herself – not being able to get back into the groove, or balance work and home. “I want to help with that,” she explains.

Today, between 1,800 and 1,900 companies post jobs across industries on JobsforHer, with the knowledge that their job postings are going out solely to women looking to reenter the workforce. Companies can post for free but can boost their posts with a premium model that can cost between US$1.48 for a boosted “hot” job post or US$1,500 to run a recruitment campaign through the site. The site gets 150,000 monthly visitors, and the typical user is a woman in her 30s who has over five years work experience and has taken a one or two year break.

Getting past the stigma companies tend to have against women coming back into the workplace was as easy as getting them to see the numbers. “We can’t afford to lose out on this talent pool, frankly, as an economy and a country,” says Neha. “What kind of message are we sending across to women by telling them they have to choose?” Emphasis on a diverse workplace has become a trend over the past decade, meaning there simply aren’t enough women for diversity if an employer turns away mothers ready to come back to their jobs.

“They can join you immediately,” Neha says, with a laugh. “No notice period required.”

Events for Her

JobsforHer has grown from that handful of women in Starbucks without an idea for product-market fit, to 30 to 35 employees spread out over cities including Bangalore, Mumbai, Delhi, and Hyderabad. The jobs portal is fine for now – Neha’s focused on creating width and depth. JobsforHer organizes events with partners to give resources to women reentering the workplace.

JobsforHer’s team. Photo credit: JobsforHer.

A speed-mentoring session with India community-building facilitator Back to the Front, which helps build relationships between women in the workforce, inspired its newest offering. Its mentorship board, through which people who want to help the community can sign up and get featured, launched today. Women can participate in webinars and expert chats on their own time.

Other resources available to women in the workforce include Sheroes, a jobs and community platform for professional women, including those seeking first-time employment. SheThePeople offers stories and encouragement from successful female entrepreneurs. Avtar I-Win runs programs that focus on the home-job balance and increase diversity within companies, and create reentry opportunities. Her Second Innings offers jobs, mentorship, and career coaching for women who want to come back to work.

See: 5 ways to tell if your startup mentor sucks

Other events on JobsforHer’s docket this year include a photoshoot inspired by the lack of stock photos of Indian women in the office. Volunteer models will pose for pictures in a corporate setting, and the photos will be distributed to emphasize the role of Indian women in the workplace.

“Because [work] is something we do,” Neha says.

Converted from Indian rupees. US$1 = INR 67.43

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Lessons learned: Say “no” to vanity metrics, be down-to-earth, be nice to people, be transparent, and don’t chase a fancy entrepreneurial life

Styl Co-founder Anup Mohan (L) and Srikanth Ch (R) with Voonik Co-founder Sujayath Ali (C)

Mergers, or acquisitions for that matter, are very much like a typical arranged marriage. It takes months — sometimes years — before the couple ‘gets hooked’ after their first meeting. The wedding often falls through midway, if one or both parties fail to fulfil certain conditions. Sometimes, the marriage begins to break after the honeymoon period is over, and the couple part ways.

But this particular marriage was not so sensational. It was a very low-key affair.

It was love at first sight. The couple liked each other. They gelled well. And it did not take more than eight hours for them to get hooked after their fist meeting.

Also Read: Why Kunal Shah believes founders should not fall in love with their own ideas

And the marriage is still going strong even after the honeymoon period is over.

Anup Mohan, Co-founder of wellness and beauty marketplace app Styl, reflects on the startup’s successful ‘marriage’ with Sequoia-funded women fashion portal Voonik, sharing his thoughts with e27 on the first anniversary of the deal-signing.

“Voonik was looking for a strong team, and they approached us through a common friend,” said Mohan. “Voonik liked what we were doing at Styl. And the entire deal was closed in just eight hours.”

“In fact, we could not believe our eyes. Just after coming out of Voonik’s office after signing the deal, we (co-founders) looked at each other and asked ‘Is this real?’ Without taking too long to find the answer, we decided to celebrate the moment — mostly, for the fear of waking up the next day to only realise it was a dream,” Mohan laughed.

Styl was launched by Mohan and Srikanth Ch in mid-2015. The startup nabbed over US$110,000 in funding from four angel investors toward the end of the year. However, the going was tough, as India slipped into an investment crunch towards the end of that year. They failed to raise follow-on funding.

“There were many startups in the wellness and beauty segment at that time, and the competition was tough. So, we were thinking of pivoting our model. Meanwhile, we kept receiving offers from various companies. This was when Voonik came to us with the best possible offer. The entire deal took just eight hours to sign after our first meeting with Voonik,” Mohan says.

According to Mohan, it was the product and a great team that drew Voonik’s attention towards Styl. “Voonik was on the hunt for a great team to develop its new product, Villara, which would compete with the likes of Myntra. Villara required a branded approach, a flawless design, and superior look. We had a terrific product with great design. Most importantly, they liked our team. All the founders of Styl have been sticking together for many years since our first startup. When our investors nodded in the affirmative, we proceeded with the deal with Voonik.”

The deal was inked in January last year. Post-acquisition, the Styl team moved to build products at Voonik and halted the operations of Styl.

Mohan says that working with the founders of Voonik has been a great learning curve for the team at Styl. The team basically learnt three important lessons:

#1: Say no to vanity metrics

“Startups are not about fancy offices and vanity metrics. As you know, we are from Kerala. We have seen many entrepreneurs who chase a fancy and glamorous life. They burn VC money on decorating offices and touring the world. They chase vanity metrics and often exaggerate their figures. Not chasing the vanity metrics helps in not only focussing on the right ones but also tying them to the team’s goals. Almost all of the teams at Voonik are measured by numbers.”

#2: Be nice and build a business

“Be empathetic towards employees for the risks they are taking along with yourself to build the startup. Be wary of their careers and family. Nurture and safeguard the careers of the employees for the trust they’ve put in the founder’s vision. Be frugal and nice with investors’ money  — spend wisely, and correct the mistakes early on. Do update them on the progress or the lack of it. This is especially more important and true with angel investors.”

#3: Be transparent

“One of the first things, I’ve noticed when I entered Voonik’s office is a set of TVs displaying the daily metrics. This displays transparency and earns trust. Sharing the daily metrics with the whole of the company and (visitors) needs courage. It also sends an underlying message that the team isn’t timid of the bad days but shall acknowledge and work on it. Be it metrics or be it the route the company is taking for the future — It always helps to be transparent.”

Mohan concludes: “Normally, what happens is that when an acquisition or acqui-hire deal is signed, the team at the acquiree will move to the acquiring company, stays there for a few months, and leave it after the integration of the product. In our case, we have no plans to move out anytime soon. We want to build more product and acquire more learning and knowledge.”

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He will help plan and develop the video streaming service’s platform and product

Fresh from a US$25 million fundraising in January, HOOQ, the video streaming service established through a joint venture by Singtel, Sony Pictures Television and Warner Bros. Entertainment, has announced it has appointed a new CTO, Michael Fleshman.

Fleshman comes equipped with over 20 years of experience in CTO and other leading roles of several media organisations including BBC Worldwide, Viacom, Financial Times and AOL. Prior to joining HOOQ, he founded and lead digital strategy and development consulting firm Notting Hill Digital.

At HOOQ, the newly-minted CTO will take charge of the strategic planning and development of its product and platform.

Also Read: HOOQ appoints OTT industry veteran as Country Manager for Singapore, bags Gold Award for branding

“We are elated to welcome Michael to HOOQ as part of our senior leadership team. At the same time, we are ecstatic by his depth of experience in the digital media space and I have no doubt he will lead our technical team to new heights as we expand aggressively into new territories, new products and new platforms in 2017,” said Chief Executive Officer of HOOQ, Peter Bithos, in an official press release.

“I am excited to be part of such a dynamic start-up and I look forward to driving the company into its new phase of innovation and technology,” said Fleshman.

Launched in 2015, HOOQ claims to have over 35,000 hours of Hollywood and domestic video content on its platform. It currently has a presence in five markets: Singapore, Philippines, Thailand, India and Indonesia.

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Image Credit: HOOQ

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What Southeast Asia can learn from excess capital in China and Silicon Valley

It may be counterintuitive, but one of the biggest advantages of the Southeast Asian startup scene is the reality that the ecosystem is years behind global leaders like China and Silicon Valley.

While it would be nice to have a vibrant behemoth of an ecosystem like that of China’s, what’s good about being an emerging ecosystem is that entrepreneurs, investors, and community stakeholders in Southeast Asia can study the mistakes and steer the regional startup scene away from pitfalls.

One such pitfall is how to adapt to an infusion of excess capital, because it does not necessarily correlate with better business decisions, according to a joint study from Golden Gate Ventures and INSEAD.

According to the study, the excess capital began to hit China around 2009, when Silicon Valley investors began to look East as a way to diversify their portfolios.

Investors sought Chinese companies for three reasons:

• First, the best universities in China began hosting competitions that opened up the door for angel investing.
• Second, companies were in need of this investment (the study reveals an anecdote in which the Managing Director of Trilogy VC, Stephen Bell, says he inked a deal for every term sheet he offered).
• Third, VCs could find deals at a lower price than their American counterparts.

For people paying attention, this seems to be happening in Southeast Asia — with Chinese investors playing the role of 2009 Silicon Valley VCs.

“The things you see in China and the US have not happened [in Southeast Asia] yet, but the idea was to send a little warning,” said Michael Lints, a Venture Partner at Golden Gate Ventures, in a conversation with e27.

“[Southeast Asia] is seeing more Funds that have raised money recently and they need to deploy that capital in the next four or five years and companies will raise from them. [So this is] to make sure we are not falling into any traps,” he said.

Also Read: Ola, Uber asked to stop ride-sharing service in Bangalore

According to Lints, one of the major lessons from the nine use-cases the team analysed was that operational experience played an important role in determining the successes or failures of these companies. Some raised tens, and even hundreds, of millions of dollars but fundamental operational errors lead to an eventual closure or buy-out.

“I think that that its one of the takeaways [Chinese investors] brought to SEA: not just spending money but being more diligent in spending decisions.”

Let’s take a look at two of the studies.

Gaopeng.com

Gaopeng was a group-buying company that offered users special deals through a daily email full of discounts. Not only was Gaopeng similar to Groupon, but it was actually financed by the American company in a 50/50 share-split with Tencent.

After an investment of US$40 million, Tencent, Groupon and the management team became principal shareholders in the company.

What ultimately doomed Gaopeng.com was a lack of cultural understanding. It set up the team in such a way that it became nearly impossible to fully grasp the nuances of Chinese culture.

In a company built in China, only two of its senior management were Chinese (and one was from Hong Kong, which operates in an entirely different business culture). Furthermore, even in remote parts of China, the people running operations were foreigners.

One example of how this leads to poor decision-making is how it approached its mass email system. Despite warnings from local employees that Chinese people rarely read mass daily emails, Groupon insisted on the model — essentially turning the company’s main feature into its biggest bug.

Also read: Singapore’s polytechnics to ramp up fintech skills through MOU with Singapore FinTech Association

Furthermore, this unwillingness to draw on local talent meant the company was dogged with a high employee turnover rate.

The final blow came in the form of two scandals. The first was in 2011 when staff were caught cheating on the lucky draw (lottery), which resulted in the Vice President getting fired and the CEO making a public apology. Less than a year later, it was discovered that luxury watches sold on Gaopeng.com were fakes.

With its reputation in the dump, and a management team that did not fully understand Chinese culture, the fate of Gaopeng.com was sealed.

Key takeaway: Place locals in key management positions, so the business can adapt to cultural nuances and better understand their customer base. This is particularly relevant in fragmented Southeast Asia, where companies are often forced to reach beyond their home markets.

Letao

Letao was established in 2008 as an e-commerce platform selling footwear. Similar to Tmall, the company partnered with local merchants to act as an online marketplace for shoes.

It raised US$85 million in publicly disclosed funding and an undisclosed Series E from Ceyuan Ventures. The company was bought by Guangdong Guanpeng Shoe Industry Franchise Ltd. for US$72 million in 2014. The company still operates.

In 2009, however, it was the darling of e-commerce in China. Letao had almost no competition and its daily order number tripled from 1,000 to 3,000 from Q1 to Q4 that year.

Letao was growing fast, and investors wrote big cheques. Unfortunately, the company did not use the money wisely — spending a lot on over-the-top offices and expensive advertising.

Poor money-management was compounded when the management team then made a strategy mistake.

Also Read: From idea to execution: 8 steps that can make a big difference in your startup journey

Their business, which involved physical warehouses to improve delivery time, had thin margins and could not turn a profit. In 2011, Letao decided the solution was to create its own brand of footwear to boost profit.

But, they underestimated the amount of time and money it would take to create brand awareness — which led to overproduction and massive losses.

The decision sucked money and killed Let status as the “premiere online shoe marketplace” — weakening itself ahead of the rise of e-commerce in China. When Alibaba and JD.com finally emerged, e-commerce exploded in China, but Letao’s status as a market-leader was a distant memory.

As the losses piled up, the owners sold the company in 2014.

Key Takeaway: The company spent its investment-funding poorly and failed to capitalise on its status as a market-leader in a specific niche. What eventually did Letao in was a high-risk gamble that did not pay off, exacerbating the downward spiral the company was experiencing.

In Southeast Asia, the case study is an example of a company that found success in a 2008 Chinese e-commerce environment that is similar to this region’s current status. As the Southeast Asia e-commerce industry emerges, the Letao example can be a guiding light to point-out potential pitfalls that the region’s players should avoid.

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The investment is believed to be the first of its kind in the country

Seoul-based fintech startup AIM announced that it has raised a US$1.6 million in seed funding, according to a report by TechCrunch.

DT&I, Soorim, Seoul Business Agency, and Startup Bootcamp participated in the funding round which reported to put the startup’s value at US$7 million.

Apart from a wider launch of its mobile platform in the startup’s home market of South Korea, AIM plans to use the funding to support its international expansion to other Asian countries. It will start with Singapore and “potentially” one more location in the second half of 2017, said AIM CEO and Co-Founder Jenna Lee.

“We’re thinking about regional expansion and want to build a playbook for international financial services,” she said.

Also Read: Enter the scene with a bang: Forex trading startup announces itself with US$5 million funding

The startup is reported to be the first in its field to raise money in South Korea, particularly one at a valuation “that is not traditionally given to early-stage companies in the country,” said Lee.

She also stated that typically investors will not invest at a valuation of more than US$5 million due to a “perceived notion of limited upside within the ‘small’ Korean market.”

AIM aims to democratise the industry by developing a system that allows users to make trades and investment via smartphone. According to the company, they were able to streamline the process by outsourcing trading to brokers, who cover licensing and compliance.

“We’re leveraging not only our resources but a brokerage’s resources in an efficient way,” Lee said.

The platform is currently in open beta stage with 300 selected users on board. Though Lee stated that there are more than 4,000 users with some US$166 million in assets waiting to get in, the startup will not open the platform for more users until May.

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Getting the right people onboard and in the right roles can be a big startup challenge in itself

Ask most startups what their biggest challenge is, and they’re quick to say ‘talent’. In other words, ‘manpower’.

– Hardik Harsora, Co-Founder of Effex Business Solution

To a large extent, they are right. Finding the skill sets, cultural fit, and startup mentality in a single package is a daunting task. Add to that the affordability when it comes to hiring, and this truly becomes one of startups’ biggest challenges. When funds are tight and founders don’t want to barter with equity, it’s a mammoth task to find high potential at low cost. However, hiring the right people is also the most essential element for a startup to sustain.

But merely hiring isn’t enough. A startup doesn’t just need to hire someone who’s brilliant. It has to hire people who are brilliant for a specific position. As bestselling author Jim Collins wrote in Good to Great, “Get the right people on the bus, and then ensure that they are in the right seats.”

Get the right people onboard, and in the right seats. But don’t dust your hands just yet hands. Most startups falter here because they think their job is done. But it’s not. It just got tougher.

Also Read: Productivity is passé, predictivity is what matters now

If you’ve hired a remarkable employee, keeping her engaged is crucial. Competition is always looking to poach high quality talent. And losing a good employee is a body blow to any startup. To insulate itself against this, a startup should engage with its employees.

Engagement here doesn’t mean merely clicking photos of office fun and posting them on Instagram. Such activities are fun in the beginning. But once the novelty wears off, employees crave for more. They crave for growth and autonomy, for a platform to discover their innate abilities, and something meaningful.

That is true engagement: It is meaningful, and it has many benefits

Autonomy is an essential element of meaningful engagement. It stokes the entrepreneurial spirit of employees within a startup: intrapreneurship. In turn, this reduces attrition. Studies prove that startups with tenured employees who have enjoyed autonomy sail through initial challenges faster.

Here are three ways in which startups can meaningfully engage with employees and, in the process, grow their own business:

1. Cross-pollinate

Startup recruits are rarely comfortable with the status quo. Their appetite for risk, excitement, and diversity, is high. Keeping them in the same field for extended periods proves counterproductive, almost always.

Introduction to different departments is an effective method to keep them engaged. Startups can create an in-house forum where employees from all departments share their victories and challenges. It will help people interested in a specific department know it better. For instance, a back-office employee who might be interested in business development gets to know more about it from the business development team itself.

This is also is an effective platform to bounce ideas off each other. People can get fresh perspectives and ideas. It also makes your employees versatile and work cooperatively instead of silos.

Also Read: Hiring your first employees? 5 things to keep in mind

2. Acknowledge and remunerate employee passions

Acknowledging team members’ hobbies and passions, verbally and monetarily, is another potent way to engage meaningfully.

For instance, your graphics designer could be part of a music band. Instead of hiring a band to perform at your informal gatherings, commission his band to perform for a fee.

This increases employee loyalty towards the company. Those earning money through these alternate avenues become motivated. But so do other employees, who feel secure that their alternate talents will be rewarded.

3. Align with their goals

According to strategy gurus, a good strategy aligns employee goals with organisational goals. What if startups reverse the order?

Here is an example. The founder CEO of a startup we were consulting had a challenge: He could not get people to rally around large goal. So we conducted an exercise.

We asked the founder CEO to meet each employee and know their long term goals. Someone wanted to earn money for higher education. Yet another wanted to buy a house. A third wanted a stable income to get married. And so on.

The CEO combined the financial value of these goals and came up with a sum. Then, he called everyone together into his cabin and showed them the final figure. “If we earn this revenue each year,” he said, “all of you can achieve your long term goals in a few years.” The team was pumped and started working enthusiastically towards achieving the target. It’s been two years and they are still going strong. And all of them are much closer to their end goals than they had imagined they would be.

Also Read: 9 ideas to foster health and productivity in the workplace

There is no return on investment as high as meaningfully engaging with employees in unconventional ways. Most brilliant minds will forego ‘salary’ for purpose. If you want brilliant people onboard, give them what they need.

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The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, submit your post here.

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Toge Productions CEO claimed to have been generating profits each year, with “no compulsion to seek immediate funding”

Indonesian game developer startup Toge Productions announced that it has raised an undisclosed amount of funding from Discovery Nusantara Capital (DNC).

In a press statement, Toge Productions CEO Kris Antoni stated that the company will use the new investment to develop and bring Indonesian games to the global market.

“Investment from DNC is not only limited to money, but also includes other strategic aspect namely network connection to the international games industry,” said Kris.

“Toge generates profit every year and last year was the best year for us. Financially, Toge is still in the green zone and there is no compulsion to seek immediate funding. Toge Productions on the contrary invests in Mojiken Studio not too long ago in a time where many startups struggle to find investment,” he added.

The company also stated that it plans to “expand their support for Indonesia’s game industry ecosystem” through collaboration programmes, though no details were mentioned yet.

Also Read: “Indonesia’s gaming industry needs to be king in its own homeland”

Founded in 2010, Toge Production’ portfolio ranges from web games to mobile and desktop (PC and Mac) games. Some of its most popular works including Infectonator, which had won the Best Desktop Game award at the Indie Prize Casual Connect Asia 2014.

The company focusses on building premium instead of free-to-play mobile games. Antoni said that the company were “quite surprised” with DNC’s acceptance of their decision to stay in the premium games market.

DNC itself focusses on supporting Southeast Asian gaming industry growth by financing and transferring knowledges and resources to companies in the region. It operates a US$10 million fund raised from Zhexin IT specifically to fund Indonesian gaming startups.

In December, it invested an undisclosed amount to Jakarta-based game developer Touchten, where the firm claimed that it has helped Touchten’s international expansion plan to China.

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Image Credit: tajborg / 123RF Stock Photo

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Badrodin Haiti, former chief of Indonesia’s national police.

Grab got itself a powerful new friend.

The ride-hailing startup competing with Uber in Southeast Asia earlier this week introduced Indonesia’s former top cop Badrodin Haiti as head of the board of the company’s Indonesian branch.

Haiti, who was the national police chief before retiring last year, now carries the title of president commissioner of Grab Indonesia. That’s a role similar to what’s known as the chairman of the board elsewhere.

He’s expected to advise the company in Indonesia, specifically on legal compliance.

Haiti’s guidance will help the company adhere to prevailing laws and regulations even as it grows, said Ridzki Kramadibrata, managing director of Grab Indonesia.

Smoothing relations

While Indonesia’s ministry of transportation has accepted ride-hailing and devised a legal framework for how companies in this space are allowed to operate, some issues remain.

Achieving compliance with the rules requires obtaining licenses and conducting vehicle checkups – a slow process that’s costing companies like Grab and Uber money and patience.

A leniency period, during which non-compliant cars would be tolerated, was initially set to end in October 2016 but was extended for another six months because too many cars were still waiting to be processed.

A protest sign on a wall in Bali, Indonesia, objects to Uber and Grab. Photo credit: josephfrank / 123RF.

There are also disputes between local transportation providers and ride-hailing startups, especially in regions further away from the central government in Jakarta. In Bali, for example, local independent drivers living in certain neighborhoods told Tech in Asia that they’ve put up large anti-Uber or anti-Grab signs at the side of the road to prevent these firms from picking up passengers in their territories.

Power brokers

To solve these and other issues, Grab needs high-profile people pulling strings on its behalf. Its moves remind us of how Uber built its advisory board of international power brokers.

Grab, headquartered in Singapore, began adding stars to its rank-and-file last year.

It appointed Ming Maa, an executive at its main investor, Japan’s SoftBank, as president of the regional operation to “drive corporate development activities, including strategic partnerships and investment opportunities.”

In Indonesia, Badrodin Haiti is expected to draw from his experience of 35 years of law enforcement to help smooth Grab’s relations on national and regional levels. Before getting the national police chief title, he also served as head of police in several provinces, like Central Sulawesi and East Java. According to Ridzki, Haiti was also directly involved with managing and developing regulations on road traffic management.

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Photo credit: Gratisography.

A few years ago, Devi Prasad Biswal joined a gym. His housemate at the time wasn’t nearly as excited about the prospect but ended up tagging along out of curiosity and sheer positive peer pressure.

“My flatmate was in India for the next three months,” Devi explains. “He wanted to tag along, get in shape before he traveled.”

It was 75 percent of what Devi was paying for 25 percent of the time.

Devi was paying an annual fee of US$235 for his gym membership. When he and his flatmate inquired about prices for a three-month stay, the amount came back – US$177, which was 75 percent of what Devi was paying, despite the fact that his housemate would only be around for 25 percent of the time.

He poked around and confirmed what he already knew – the majority of the interest (as much as 80 percent) in gyms was like that of his flatmate’s: casual. Gyms were afraid of giving lower rates because they wanted to be able to pay for their facilities, which they would have to provide all year, whether people were coming to the gym or not.

See: A leaner, meaner you for just 15 dollars, thanks to an Indian startup

Lucky for people like Devi’s housemate, Devi was also an aspiring entrepreneur. He approached Avijeet Alagathi, his colleague from Goldman Sachs, with the idea of an app that would allow people to book and pay for gyms by individual session. That way, they’d save money and perhaps be more inclined to work out.

Devi admits he doesn’t work out nearly as much as he used to, but he still feels 22 in his head. Photo credit: BYG.

Devi and Avijeet founded BookYourGame – called BYG, (pronounced “big”) – in December 2015. The app was ready three months later.

Mobilizing motivation

Your mother warned you there’d be days like these. Photo credit: dorian2013 / 123RF.

BYG caters to people of all ages who aren’t necessarily ready to litter Instagram with their #fitspiration progress, but who may occasionally want to venture off the couch or from behind their computers onto a treadmill.

See: The startup that’ll crowdsource your wishes and New Year’s resolutions

Of course, BYG hopes to turn that “occasionally” into an “often.” The founders knew their work was cut out for them. “Motivation is probably the biggest problem that exists,” Devi tells Tech in Asia. Keeping people coming back to gyms after the first three months is hard. Keeping them coming back after a year is nearly impossible.

Motivation is hard.

Motivation is probably the biggest problem that exists.

Motivation was also a problem for fitness centers – it took some serious convincing to get them to agree to charge session-by-session fees. Reducing prices tends to bring in more customers, and customers – like Devi’s flatmate – tend to follow other customers into the gym. The gyms BYG spoke to were afraid of taking the plunge, though – they needed convincing that people wanted to work out but shied away from long-term commitments.

The first 100 gyms were the hardest. Today, the app has 3,000 fitness centers registered.

Team Fitness

Through the startup’s Workout Now program, users pay a session fee – starting at US$0.75 per session – to book at one of BYG’s workout centers. BYG keeps 15 to 35 percent, with an average cut of just under 20 percent. If users drop off from their established attendance, BYG sends push notifications to help them get back on track.

BYG users can book gyms or specialty classes (like yoga), but they can also upload their fitness information into the app to keep track of their numbers – weight, skeletal muscle index, fat, and body mass index (BMI).

BYG’s team. Photo credit: BYG.

Present in five cities – Bengaluru, Mumbai, Pune, Delhi NCR, and Bhubaneshwar – the app currently has 27,000 monthly active users. For those who don’t want to tie themselves down to one city, BYG offers a national pass – access to all BYG gyms with workouts that cost less than US$3.70 – for US$22 per month (the customer pays the difference if the workout costs more). Classic passes cost US$16 per month – valid for workouts that cost up to US$2.20 – and premium passes cost US$177 – valid for workouts that cost up to US$9.50 – for three months.

BYG joins the league of numerous apps trying to organize sports, fitness, and wellness clubs in India. For a flat fee of US$15, FitPass gives people access to over 10,000 gyms all over the country, including specialty classes like yoga and crossfit. BookMySports, Playo, GoSporto, and Athletto help amateur sports players book venues and find teammates.

See: These friends built a Tinder for fitness to get you off your butt

To help distinguish itself, BYG’s team of 45 hopes to spend the year reaching 70,000 customers and to develop a better fitness tracking dashboard. Ideally, people will also be able to find out where their friends are working out to increase motivation.

Converted from Indian rupees. US$1 = INR 67.83

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