//

This is extracted from our Market Expansion ebook, which gives tips on expanding into many Asian countries. Scroll to the bottom to download it.

The N Seoul Tower and the city skyline at night. Image credit: sepavo / 123RF Stock Photo.

Korea has been in the news for the wrong reasons. President Park Geun-hye’s impeachment trial has started. The country’s top business leaders were summoned for questioning on corruption.

Still, Korea can be a land of opportunity. Korea has a homogenous population, and about 50 percent of the population lives in Seoul. Trends can spread rapidly.

It’s also easy for tech startups to monetize in South Korea. According to the Pew Research Center, 94 percent of South Korean adults use the internet or own a smartphone. Disposable income is growing. Koreans are used to spending money in mobile apps.

Accelerators, funding, and government initiatives

The South Korean startup ecosystem is well-financed. South Korean President Park Geun-hye’s administration recognized the need to rely less on conglomerates such as Samsung and LG for economic growth. Touted as the “creative economy” initiative, it’s investing in innovative alternatives to the conglomerates so as to improve employment rates. In 2014, a plan was underway to nurture startups.

The government injects US$2 billion every year into the South Korean startup ecosystem. A further US$65.9 billion in spending was planned for 2016, and much was on developing Pangyo, an area south of Seoul hosting Korean tech firms such as Kakao. 17 innovation centers were also built around Korea as part of the government’s initiative. Each center has its own theme and specialty, with a corporation in charge.

The plan has seen early success. According to Tech in Asia’s data, the total funding amount grew by 6 percent from 2014 to 2016. Top funded startups over the past year include MelOn, Podotree, Yello Mobile, Baedal Minjok, and Viva Republica. They span vastly different industries.

Nathan Millard, founder and CEO of PR firm G3 Partners, shared with Tech in Asia that “there are incubators and coworking spaces across Seoul, over 20 accelerators at last count, an established VC ecosystem, active angel investment community, and very extensive government support.”

Despite active criticism of creative economy initiatives due to murky links to corruption, the Centers for Creative Economy and Innovation are likely to continue operations, having secured new funding from central and municipal governments. In fact, the Korean government announced new policies to boost growth focusing on artificial intelligence, information technology, and virtual reality in 2017.

Picture credit: Startup Alliance by Naver.

A developed ecosystem for foreign startups

On top of financial assistance, the government started an accelerator called the K-Startup Grand Challenge (KGC) in 2016 targeted at foreign startups, with focus on areas like gaming, information security, smart devices, and big data.

The accelerator is a big plus for foreign firms who wish to get a headstart in Korea, especially if they’re unsure of how to localize their product or marketing. Entrepreneurs also get funding and support accessing the market. Kenneth Lee, founder of travel chatbot developer and KGC participant TravelFlan, says that they received visa help and also networked with industry leaders. Other centers include the Seoul Global Startup Center, which provides space to work, funding, and operational assistance.

Korea’s developer communities can be found both online and offline. KLDP and OpenStack Korea are good places to start. Also check out this useful list of communities. Korea Community Day, which ran its fifth meetup in January 2016, offers developers an opportunity to meet in person as well.

Jason Minkee Kim, senior associate at startup accelerator ActnerLab, also describes the process by which the government grants support to startups.

Key challenges in Korea

A strong gaming culture and a willingness to spend in-app makes revenue generation a realistic goal for mobile apps in Korea. (For example, localized emoticons are cash cows for apps like KakaoTalk.)

1. Chaebols are still talents’ top choice

Chaebols (Korean family-run conglomerates) are favored places to work because of their domination over Korea’s economy and job market. To be a “Samsung Man” is to be respected, admired, and powerful in Korean society. While the traditional belief still holds, more and more workers are looking to work in startups.

Photo credit: ximagination / 123RF Stock Photo

Today, Koreans struggle to cope with the demands of work, social immobility, and youth unemployment at over 11 percent. Some feel like they’re back to the Joseon dynasty, where a feudal system prevented the lower classes from achieving socioeconomic mobility. Groups like Hell Chosun are forming to rebel against the traditional 60-hour work week.

“A lot of startups have former Samsung and LG employees. The reasons for leaving big corporations vary from the pursuit of adventure or just doing something personally rewarding,” says Sejung Yun, who has worked closely with startups in South Korea as part of G3 Partners.

For foreign startups looking to hire talent, Sejung has these words of advice: “With money saved up from chaebol jobs and government grant programs, you’ll find a lot of ex-chaebol people out here in the startup ecosystem. Know how to be competitive with your offer.” If you’re able to confidently pitch your product and your vision, hiring talent should not be an obstacle.

Younger workers also have different views on work practices from their parents. They’re less likely to tolerate being ordered to start work an hour earlier, or abide by stringent dress codes. Startups may offer less stable careers than large corporations, but are able to employ a flexible and progressive work culture due to their smaller sizes and novelty. For example, Kakao enjoys a flat structure where they welcome employees to freely discuss new ideas.

2. Put effort into building good relationships with chaebols or the government

Companies may face high barriers when building a network in Korea. Symbiotic relationships between the government and chaebols may also create an economic environment unfavorable to smaller businesses. Even with the support of an accelerator, startups still have to go through lengthy and extensive relationship building.

“It’s all about who you know. It’s not about bribery or corruption, but you need to develop high-level relationships, and that takes time,” Nathan says.

Building good relationships can be vital for success. Nathan advises that startups who want to broker a deal with chaebols offer something of tangible value.

“Large Korean companies are not startup-friendly, so you need to spend a ton of energy making sure that what you are offering is of value, otherwise you simply won’t get a meeting,” says Nathan. “It’s about thinking: how can I add hundreds of millions of dollars of value to this conglomerate?”

Cloudike’s CEO Sun Ung Lee says it pays to spend time and effort on developing high-level relationships.

“Once you do get the paperwork out of the way, the partnerships are highly beneficial and are almost a badge of approval to other major companies.”

Startups have to spend the same amount of time and effort on preparing to meet chaebols or governmental organizations as they would for a meeting with a VC or investor in Silicon Valley. It’s all about making the time and effort to make the right connections in South Korea too.

3. It’s important to be in the country.

While there’s definitely a language barrier, Sejung says that it isn’t impossible to overcome.

“Even if you go to Korean startup events, I would wager that a good portion of the crowd can communicate with you in English, so the opportunities are certainly there,” says Sejung. “And if you look at the statistics (or just meet people here), you’ll find a ton of people who have either lived or studied abroad in English-speaking countries as well so again, language shouldn’t be a fear.”

“Someone always knows someone who knows someone else,” says Asaph Kim, chief design officer at 3.14 and co-founder of KamiBot. He thinks building a network shouldn’t be too hard, but it does require you to be physically present in Korea.

Most founders who have successfully set up shop in Korea have lived there for a while. For example, Nathan spent seven years in Korea before setting up G3 Partners in Seoul.

Kenneth mentioned that having a local partner would be ideal, especially when sourcing for news on government sponsored programs. Indeed, Asaph says that he learned the most about Korea after 21 months of compulsory military conscription.

King Sejong in Gwanghwamun Square, Seoul. He invented Hangeul, the Korean alphabet. Image credit: Pixabay.

4. Don’t rush head-first into the market.

Founders we spoke to cautioned against rushing head-first into this market without doing any research. On one hand, Koreans hold conservative views, but on the other hand, they are extremely willing to try out new tech. Nathan says Korean consumers are very savvy about consumer goods.

Asaph also notes that Koreans “are driven by how they appear to their peers, and this ultimately drives nearly all of the social dynamics in Korea.” One example is that Koreans judge you for eating alone. This might not be surprising if you understand the face-saving culture and how this is applied specifically in Korea. Face saving includes maintaining a carefully crafted image in front of others. When this image is shattered, such as appearing to have no friends by dining alone, the person may feel guilt or shame.

Marketing also has to be done differently. As the top search engine in Korea is Naver (Google doesn’t even come in second, with only 10 percent of the search engine market share), you need to adapt your search engine optimization strategy.

Foreign app developers, such as Candy Crush, have succeeded in Korea by localizing their app and ads, such as featuring eye-catching candy popping out of the television, as well as slapstick humor.

It’s easy to forget that Korea is entirely different from surrounding countries like Japan and China. Korea has its own history and traditions. In recent times, Korean soft culture such as pop music and fashion has become increasingly recognizable and popular.

It’s important to understand these nuances, or well, risk losing face.

If you want to find out more, fill in the form below and we’ll send you our Market Expansion Ebook. It’s designed to give you basic information on each tech and startup ecosystem. It can serve as a guide on how best to get started with your company’s expansion. We share with you what you need to know about the region’s cultures, government regulations, hiring practices, business relationships, and so much more.

This post Ebook: If you are expanding into Korea in 2017, here’s what you need to know. appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2joxEhn

//

The goal is to be a go-to place for SME loans as Indonesia’s middle class continues to boom

Wecash, a Beijing-based fintech startup that uses big data and machine learning to assess various credit-based metrics, announced today it has entered Indonesia through a joint venture with two Indonesian partners.

The JV will be named PT. Digital Tunai Kita (DTK).

The first partner in the JV is PT Kresna Usaha Kreatif, a subsidiary company of Kresna Investments that oversees its parent company’s e-commerce, digital and creative businesses.

The other partner is PT JAS Kapital, a holding company that provides the technology infrastructure behind Mandiri E-cash and LINE Pay.

Also Read: IoT startup that can save costly human lives on the borders raises investment

As part of the move, Wecash has set up its regional headquarters in Singapore. This is the company’s second move outside of China and its first in Asia (Wecash recently entered Brazil).

“We are delighted to have the opportunity to contribute to Indonesia’s fintech ecosystem and partner with Kresna Investments and JAS Kapital, both of whom I consider to be leading players in their respective fields in banking, finance and fintech,” said Wecash Chief Strategy Officer James Chan in an official statement.

Wecash has built a tool to help the ‘missing middle’ evaluate consumer credit, co-underwrite consumer loans and detect fraud.

The term ‘missing middle‘ refers to the phenomenon in which developing countries have a lot of micro-businesses and significant economic impact from massive corporations. The ‘missing middle’ refers to the shortage of SMEs as compared to their more developed neighbouring countries.

“I am heartened by the growing trend of multi-financing and credit options in Indonesia and believe that the increased financial inclusion provided by DTK can only be more empowering for middle-class Indonesians,” said Jahja Suryandy, Managing Director of Kresna Investments.

Also Read: After 3.5 years, Hugo Barra will leave Xiaomi for Silicon Valley

Suryandy went on to explain that as Indonesia’s middle class continues to grow, the existing methods of credit checking will not scale, and a data driven approach is needed to help the underbanked apply for loans while also filtering out potential fraud cases.

The hope is Kresna Usaha Kreatif and JAS Kapital can bring their local networks, technology skills, fintech background and Indonesia expertise to help DTK grow into a leading digital crediting system in the world.

Wecash has raised US$40 million from three rounds to date and has about 60 million users. According to the company, it helped underwrite 5 million loans worth US$2 billion in 2016 alone.

The company has offices in China, United States, Brazil, Singapore and Indonesia.

—
Copyright: ajriya / 123RF Stock Photo

The post Chinese fintech startup Wecash makes foray into Indonesia through joint venture appeared first on e27.

from e27 http://ift.tt/2jSFQdp

//

Xiang Wang was the former head of Qualcomm China

Outgoing Xiaomi Vice President for International Hugo Barra and his replacement Xiang Wang are both engineers by training, but there is one stark difference: their social media presence.

Barra has over 100,000 followers on Twitter and Facebook, while Wang’s LinkedIn profile looks sparse and outdated. So who exactly is this enigmatic figure who will be inheriting Barra’s role as Xiaomi’s chief missionary?

From Xiaomi’s website, it says that Wang has a bachelor’s in Electrical Engineering from Beijing Polytechnic University. He has over 20 years of experience in the telecommunications and semiconductor industry. He managed sales and marketing in leading companies including Motorola and Lucent/Agere.

Xiang Wang, Senior Vice President of Xiaomi

In 2002, he became the head of Qualcomm China. It was there he formed a relationship with Xiaomi, helping to manufacture processor chips for its flagship smartphones. He also helped other Chinese electronics company such as Huawei and Lenovo to grow.

But his tenure at Qualcomm was not without bumps. In 2015, Qualcomm was slapped with a massive US$925 million fine for carrying out anticompetitive practices which included exorbitant license fees and other unfair patent license conditions.

Still, Xiaomi’s co-founder Lei Jun took a liking to him, and in 2013, offered him the role as Senior Vice President at Xiaomi.

“He was the one who successfully helped Qualcomm establish a strategic cooperation with Xiaomi, which has only deepened over time. I believe that with Wang Xiang’s excellent leadership skills, over 20 years of experience in the industry, and close ties with players within the mobile ecosystem, he will be able to steer Xiaomi to the next level of success in strategic cooperation and establishing important partner relations,” said Jun, in an official statement.

At Xiaomi, Wang currently manages the Supply Chain and Intellectual Property teams. But in his new role, he will be charged with evangelising Xiaomi’s good name to the world. Xiaomi’s smartphone sales in China has taken a beating recently, though in India, it is looking pretty positive.

The company isn’t too concerned, however, claiming its long term strategy is hinging on other product verticals such as smart home devices (in case you didn’t know, Xiaomi also makes anything from suitcases to bicycles).

It is highly unlikely Wang will gather a large social media following like his predecessor, but marketing the brand will depend on not tweets and Facebook posts, but a sound business strategy. It will be exciting to see what he can come up with in the future.

The post Meet the new guy who will be selling Xiaomi to the world appeared first on e27.

from e27 http://ift.tt/2j4zUJy

//

The holidays are (always) right around the corner

Christmas is over and Chinese New Year is around the corner. And while this may be a period of laughter and festivities for most people, for retailers it is typically a period of high stress, unreasonable demands and frenzied behaviour. This is because customers tend to be in a rush, wanting immediate and exceptional service. There are also likely to be an increased number of product returns, as individuals may have bought wrong products for loved ones during Christmas. All this can lead to a fall in customer satisfaction.

Here are some strategies for online retailers looking to make the most during the festive season, while at the same time providing the best service to their customers.

Be clear on your product return policy

Impulse buys or buying presents for others usually leads to high levels of product returns in the following weeks. Ensure the return policy is well displayed on the company website and that your customer agents know how to handle return policy queries. Typical questions include the period of when returns can be made, whether money reimbursement, item exchange or credit is provided, and how to return products that were shipped to the customer.

Also Read: 3 reasons why businesses should put the ‘help’ back in helpdesks

This information must be consistent across different platforms, so customers receive the same message, whether they make their purchase at the physical retail store, the business’ online store or third party platforms, such as Groupon.

Incorporate live chat – your friendly online sales assistant

Online shopping has been increasing in popularity. Forrester Research estimated that seasonal online sales would exceed US$100 billion in 2016. One reason why people prefer to shop online is to beat the queues and avoid the crowds. However, when shopping online, if the customer needs help, there is no one around to answer it. This is where live chat comes in handy.

This is a chat widget on the retailer’s website that allows customer agents to chat with customers real time, similar to how a friendly sales assistant would provide help in a retail store. Because live chat provides help quickly, customers like it. An ATG Global Consumer Trend study revealed 90 per cent of customers find live chat helpful.

Another benefit of live chat is that businesses can set automatic triggers when they sense a customer is having difficulty. For example, the live chat box can pop up automatically, offering assistance when the technology detects that the online customer is lingering too long at the checkout page. This significantly reduces shopping cart abandonment. Zendesk’s research found customers are three times more likely to make an online purchase when businesses reach out via live chat.

Encourage self-service

During the festive period, some employees may wish to take leave, which could result in insufficient customer agents available. Fortunately, most customers prefer to find answers on their own, as long as the information is easily accessible. Self-service solutions include website articles that address common issues, video tutorials to guide users on how the product works and an online community that offers crowdsourced support.

Not only are such solutions effective in keeping the customers happy, but they also reduce costs and pressure from the service team. By improving self-service offerings, it frees up customer agents’ time to provide support where it is really needed.

Care for your staff

The increase in festive season online shopping can be stressful for staff, and it is important they do not burn out. Businesses may wish to hire additional staff to reduce the load or rotate tasks around the existing team more effectively. Online retailers need to ensure support is available 24/7, as customers may come from anywhere in the world. Examine trends from previous years to understand where the majority of customers come from and when the bulk of support requests come in. This allows businesses to schedule support staff appropriately (including those that speak the right languages) and reduce waiting times.

Also Read: Indonesian companies lose 1 in 6 customers due to poor customer service

Recognition for hard work keeps staff motivated and on track to providing excellent customer service. Understanding better how the team operates allows businesses to identify and reward star employees. For instance, businesses can use analytics that measure agents’ performance, including their customer satisfaction ratings, first-call resolution rates and time taken to solve the problem.

By preparing themselves in advance for this busy period, online retailers can provide consistently great service, to keep their customers happy.

—-

Sandie Overtveld is the Vice President Sales, APAC at Zendesk, a company that builds software for better customer relationships.

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.

Featured Image Copyright: lehui / 123RF Stock Photo

The post The holiday rush is yet upon us again; Here’s how to keep your customers happy during the festive period appeared first on e27.

from e27 http://ift.tt/2iUBkeG

//

Beyond recreational use: A group of four IITians have come up with drones that can be used for topography surveying, precision agriculture, and industrial inspections

While pursuing graduation at the Indian Institute of Technology (Kanpur), Nikhil Upadhye, Suhas Banshiwala and Vipul Singh got a rare opportunity to represent their college at the SAE design competition organised by the NASA in the US.

The trio, each attached to aero-modelling and robotics in one way or another, were asked to design an unmanned aerial vehicle (UAV), or drone, that weighed least and could lift maximum payload.

During their visit, they noticed that there was a huge awareness about aerial vehicles in the US, and that people used them for various recreational purposes. Back in India, their home country, drones were still an alien concept to many, and most people had not even seen one in their lives. Even the word “drone” was not so familiar.

“We immediately sensed an opportunity in this space, and we got together to brainstorm ideas about drones. That led to the birth of the startup Aarav Unmanned Systems (AUS),” Co-founder and Chief Business Development Officer Singh told e27.

After a lot of brainstorming on possibilities v/s fantasies and a lot of technical scribbles, the trio realised that utilisation of UAVs for engineering applications is the future, and its applications are not restricted to recreational usage or mere photography. “This was the point when we started working on building technology for 3D mapping and GIS surveying which further extended to industrial inspections and precision agriculture,” added Singh.

After roping in their friend Yeshwanth Reddy as a co-founder, the company began to work towards its goal to become one of the top names in the Indian drones space.

In Photos: Drone-making at Global Inovasi Informasi Indonesia’s factory

Currently, AUS is a team of 16 designers, artists, developers, and engineers from premier educations institutions in India.​ Singh claims AUS’s drones provide high-value engineering solutions to enterprises across GIS surveying/mapping, industrial inspection and precision agriculture (satellite farming). In his own words, AUS is “10x faster and generates much richer data, helping to create insightful analytics so that businesses take well-informed decisions.”

Since its inception three years ago, the startup has been tirelessly working on drone intelligence, hardware optimisation and design innovation. Singh says that it has served enterprises across various verticals even before the final product has come out. It has currently set its eyes on the global market.

The company has started taking orders for a limited quantity batch of MVPs from early-stage partners. These units are expected to be delivered by mid-March. “Our products will be commercially launched by July 2017. This depends lot many factors and availability of resources which we are working out. We are having optimistic expectations and fingers crossed,” Singh noted.

AUS’s solutions are mainly catering to three industries:

• Topography surveying: Mining, roads and railway development, urban planning, asset management, land records, large construction sites, and stockpile/quarry management;
• Industrial inspections: Solar power plants, power transmission lines, telecom towers and chimneys; and
• Precision agriculture: Crop stress mapping, health assessment, and Chlorophyll mapping.

Although he refused to share the pricing details of AUS drones, Singh said theirs are two times more affordable than the comparable solutions in this segment which are coming from countries like Germany, US, France, and Switzerland.

While India is still a slow-paced market when it comes to the development and usage of drones, there are a handful of companies striving to put the country on the global drones radar. Bangalore-based Skylark Drones is one among them and is one of the oldest. Singh, however, said that AUS’s products are much advanced.

“Unlike many other global products, our solution is not just about the hardware but it comes with a professionally integrated ecosystem of data processing and data analytics. This has given us the very unique superpower of not just delivering data but actionable information to the enterprises directly,” Singh explained. “Ventures like Skylark target the local markets and use solutions/technology like ours to cater to their clients by collecting reasonable data for them on case to case basis. Such ventures are one of our customer segments worldwide and key part of the entire solution chain,” Singh said.

Policies drive drones out of India’s airspace

The use of drones is a highly regulated industry in India. Given its long hostile relationship with its neighbours China and Pakistan, India cannot put its security at risk by letting UAVs fly freely on its airspace. While it was supposed to come up with policies related to drones, things have not made much headway yet.

Also Read: How drones can help Singapore be the world’s first Smart Nation

“It was motivating when the Director General of Civil Aviation (DGCA) realised the need of regulations and guidelines for drone operations in India a couple of years ago. But things are moving pathetically slow and in very impractical direction. Meanwhile in these two years, China increased its drone exports from US$200 million to approximately US$1 billion, gave out more than 5,000 drone pilot licenses, and even started using drones for their agriculture,” Singh expressed his disappointment with the government.

The AUS team

“Struggle with policies should be the last thing which should come our way specially when Prime Minister Narendra Modi is so determined to ‘Startup India’ and ‘Make in India’ initiatives,” he added.

He feels that such scenarios are not liked by many investors and will lead to slow or no growth of the industry. This ultimately leads to late availability of technology to end-users and hence technical backwardness from their global counterparts and direct impact on a nation’s productivity.

“We were fortunate that we understood all this at the very early-stages and started working on a globally competitive product. So far the regulations are more concerned with operations and does not restrict on production. We will focus on global sales to avoid any impact on our growth due to such slow progress on framing the guidelines,” Singh sounded optimistic.

However, if things are not improving, AUS will shift its base to some other country, warned Singh. “We never wanted to do this, but if this situation persists, we might think of shifting our base to some other country. We can’t let our vision and efforts deliver less because of some policy paralysis in India.”

The foreign threat

It is a known fact that most of the world’s drones are made in countries like China, Germany and Switzerland. Despite that, the commercial drones industry is still at its dawn. “All these three countries definitely have fairly advanced innovation and production ecosystem but India is nowhere less when it comes to very smart and talented people. We believe consistent innovation of technology and business strategy is key to success. Our wisdom is not limited to operate only from India or in India. We see a united world and as time comes, depending on our needs we will utilise all the required global resources,” Singh added.

Drones for e-commerce delivery

Drones for logistics are going to be one of the large markets in the near future, said Singh. This is going to increase the efficiency and reach of e-commerce companies. Large players like Amazon and DHL have already started their initiatives in this direction. “We do have plans to work on solutions related to this application once we are done with our current goal and find suitable resources and partners to do so,” Singh noted.

AUS is one of the top 10 finalists of Qualcomm Design in India Challenge (QDIC) 2015. He said that the future of drones will be more connected, highly integrated and power efficient platforms — very similar to what is happening in the mobile phone market. “Qualcomm has been the leader when it comes to such solutions. We feel solutions at Qualcomm have suitable features to be used with drones and IoT devices.”

The drone startup has got its first round of funding in February 2016 from StartupXseed Ventures, 3ONE4 Capital, Valpro Capital, Ashok Atluri and Sanjay Jesrani. It now looks to raise another round very soon for team expansion, production, and reaching out to the global market.

How do you face tough times in your startup life. “Well, focus on what’s needed and ignore what’s not. Put earphones, listen to Pink Floyd and keep doing the work,” Singh signed off.

Indian markets are already dominated by Chinese drones. Cheap drones meant for recreational purposes regularly make way into the markets in Bangalore and other parts of the country. However, enterprise-oriented drones are still out of India’s radar. Companies like AUV and Skylark are betting big on this segment. If regulations are relaxed, India will see thousands of drones hovering on its airspace in the near future.

—-

The post Despite tight regulations, this startup looks to fly drones on Indian airspace soon appeared first on e27.

from e27 http://ift.tt/2jPHNGP

//

Photo credit: Mobike.

Weeks after securing US$215 million in funding, Chinese bike-sharing startup Mobike has received investment cash from Foxconn.

The deal, for an undisclosed sum, sees Foxconn helping with manufacturing of the startup’s smart bikes, which can be unlocked, paid for, and locked again using an app. The plan is to double annual production to 10 million as Mobike expands to new cities across China.

Mobike is also plotting global expansion, starting with an upcoming debut in Singapore.

It’s one of many such startups in China – all fighting over users who pay a just few cents per hour to rent the bikes. Mobikes cost US$0.15 per hour.

“This partnership is all about bringing more bikes to more cities around the world,” said Davis Wang, co-founder and CEO of Mobike. He wants to “enable residents in a hundred cities in China and internationally” to turn to the service’s bikes as an alternative to cars or public transport for short trips.

The startup launched at the end of 2015.

Mobike and its many rivals have been plagued by vandalism of its bikes, as well as inconsiderate users leaving them in inaccessible places.

This post Foxconn invests in bike-sharing startup Mobike appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2jSmMMh

//

Meanwhile, Indonesia’ anti-corruption agency is probing into the possibility of money laundering in this case

After being named as suspect in a trans-national bribery case involving British automaker Rolls-Royce last week, MatahariMall Chairman spoke up about the allegation that is reported to have happened during his tenure as CEO of flag carrier Garuda Indonesia.

“As far as I am aware of, during my time as CEO of Garuda Indonesia, I have never done corruptive[sic] actions. Neither have I accepted anything related to my designation,” he told CNN Indonesia on Friday, January 20.

However, Satar stated that he “remain committed” to respect the legal process and to assist the Indonesian Corruption Eradication Commission (KPK) in their investigation process.

Responding to Satar’s statement, KPK spokesperson Febri Diansyah said that the institution respected the suspect’s statement of his innocence.

“If there is any evidence to support the argumentation, then please go ahead,” he said.

Also Read: MatahariMall scores US$100M equity round from Mitsui Group

The spokesperson also explained that KPK is currently digging deeper into the involvement of Satar and Soetikno Soedarjo, who was reported to be the middleman between Garuda Indonesia and Rolls-Royce.

The UK’s Serious Fraud Office (SFO) previously stated that Rolls-Royce have given up to US$2.5 million and a Rolls-Royce Silver Spirit car to “an individual” in Garuda Indonesia. However, KPK found no evidence of Satar having had received such car.

Instead, KPK stated that Satar is believed to have received EUR1.2 million (US$1.2 million) cash, another US$108,000 cash, and US$2 million-worth of goods in Singapore and Indonesia from Soedarjo. He is also believed to have received a gift in form of a condominium in Singapore.

KPK Deputy Chief Laode Muhammad Syarief also opened up the possibility that the case will develop into a money laundering probe.

“This is not a stand-alone crime. Certainly during our investigation development process, there is a possibility that it has led to money laundering,” he stated.

KPK is working closely with SFO and Singapore’s Corrupt Practices Investigation Bureau (CPIB) to investigate the possibility.

Syarief also stated that the institutions had frozen Satar’s bank account in Singapore.

—

Image Credit: stokkete / 123RF Stock Photo

The post MatahariMall Chairman denies involvement in Rolls-Royce bribery case appeared first on e27.

from e27 http://ift.tt/2kiB8Gf

//

He cited health problems arising from living in Beijing as the reason for his resignation

Hugo Barra pictured on the right

Hugo Barra, the man responsible for leading Xiaomi’s global expansion, has announced his resignation today in a Facebook post. He cited health problems that arose from living in Beijing (possibly referring to the city’s polluted air) as the reason for his departure. The post also hinted at homesickness as another factor.

“My friends, what I consider to be my home, and my life are back in Silicon Valley, which is also much closer to my family. Seeing how much I’ve left behind these past few years, it is clear to me that the time has come to return,” he said in the post.

“As I thought about this late last year, I concluded that Xiaomi is in a very good place on its global expansion path, and if there was ever going to be a good time for me to come back home, that time is now — when I can confidently say our global business is no longer just an in-house startup,” he added.

Barra will officially leave the company after the Chinese New Year in February. He will then take a break before heading back to Silicon Valley. He did not furnish further details.

Also Read: The new Xiaomi phone’s borderless display covers nearly its entire body

The former Vice President of Google’s Android division first joined Xiaomi in September 2013 as Vice President of International. Under his charge, the Chinese smartphone manufacturer expanded its reach beyond China into regional markets such as Singapore, Philippines, Indonesia, Malaysia and India. Barra claimed that in India alone, Xiaomi was able to reap over US$1 billion in revenue. Later, Xiaomi entered international markets including Brazil, Russia, Poland and Mexico. And although its primary focus is smartphones, Xiaomi ventured into other product verticals including televisions, Android TV boxes, and oddly enough, rice cookers. It also released its own mobile payments platform.

Xiang Wang, who is currently Senior Vice President of Strategic Cooperation at Xiaomi, will be taking over the reins from Barra. Wang was formerly the President of wireless telecommunications manufacturer Qualcomm’s Greater China division.

While Xiaomi’s product line and market growth has been fast and furious, its sales statistics paint a less rosy picture. Last year, sales of Xiaomi’s smartphones dropped 38.4 per cent year-on-year, in part due to fierce competition from rival Chinese smartphone manufacturers such as Huawei and Oppo. When he takes on his new role, Wang will face an uphill task in helping Xiaomi reverse its fortunes and retains its competitive edge – both in pricing and innovation – against its rivals.

—

Image Credit: Hugo Barra

The post After 3.5 years, Hugo Barra will leave Xiaomi for Silicon Valley appeared first on e27.

from e27 http://ift.tt/2k7bJfh

//

Some tips to get stuff done and make the most out of coworking

You’ve recently discovered the magical world of co-working, yay! But after the first few months, and a hundred new Facebook friends, you start to get distracted by the level of activity. How do you take advantage of the buzz, while simultaneously keeping productivity up?

We offer some simple hacks to make sure you make the most of your co-working experience:

Hack #1: Create a (detailed) daily schedule

At a co-working space, you are the boss of your time. Yes, you. Make sure you track your daily tasks by creating (and sticking to) a daily work schedule. Try techniques like Pomodoro or Timeboxing where you spend a set block of time on work, which in return rewards you with a few minutes of play.  Also, use the first 10 minutes of your day to prioritise and plan your workload for the day.

Hack #2: Reward yourself for accomplishments (big or small!)

Don’t wait for a pat on the back from your colleagues, just pat yourself on the back once in a while. Treat yourself whenever you complete a task. Grab a juice, plank, meditate or play a quick game of Ping-Pong for 5 minutes. At WORQ, we believe that short thinking breaks are where the magic happens, which is why we provide unlimited coffee and healthy snacks, a games room and meditation room for members to just decompress.

Also Read: Coworking in Indonesia: Opportunities and challenges

Hack #3: Do some office yoga

Being glued to your computer screens increases the risk of neck, back, and shoulder pains, as well as strained vision. While you’re waiting patiently at the printer, do a quick stretch for your back, arms, and legs, to reduce muscle fatigue. When seated, try a seated twist — twisting to one side from the bottom of your spine (more from your abdomen, less from your back) while grabbing your armrest. Breathe deeply and repeat.

Hack #4: Ask and it shall be given

Your membership to the space is worth more than the physical space. One of the most valuable things about being at a coworking space are the connections you make. Don’t be afraid to ask for help – the best recommendations for all your needs are a just a few steps away – from the best graphic designer, to the cheapest booze in town.

Hack #5: Show up at events

Most co-working spaces host plenty of social events that serve as networking opportunities. You don’t have to attend every event, but showing up consistently would bring more success than it would failure. The space is already set up for constructive interactions (usually with free food and drinks!), so why not make the most of it?

Also Read: In Southeast Asia, coworking spaces are no longer just for startups and freelancers

Hack #6: Consult your friendly community manager

Don’t forget that the community managers at your coworking space are there to help. These are your fairy godparents and they just want you to do your best work. They’ll be spending a lot of time learning about their members, so they would be a walking directory of who and what is available. The community managers at WORQ are at your disposal 24/7 to answer any burning questions you may have.

Hack #7: Invest in noise cancelling headphones

Occasionally, the chatter will just get to you. Fret not! Some seriously noise-cancelling headphones will keep you safely in your productivity zone. It serves as a subtle ‘do not disturb’ sign. Some coworking spaces also offer quiet zones for people to get their sh*t done so find out if this is available and make the most of it. WORQ also offers ‘quiet’ phone booths, if you need to make an important call or just hide-away to do your thinking.

So go forth and strike the right balance, and be prepared to do your best work at a coworking space. I know I do.

—-

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.

Featured Image

The post 7 hacks to optimise your coworking experience appeared first on e27.

from e27 http://ift.tt/2iTDB9S

//

Xiaomi’s Hugo Barra in India, celebrating selling one million phones during the holiday season. Photo credit: Hugo’s Facebook feed.

Hugo Barra, arguably the most public face of Chinese electronics company Xiaomi, is quitting after three and half years at the company. Hugo was vice president of Xiaomi’s international business.

In what seemed like a nod to China’s catastrophic air pollution problem, he said at least part of the reason for his move was his health.

“[…] what I’ve realized is that the last few years of living in such a singular environment have taken a huge toll on my life and started affecting my health. My friends, what I consider to be my home, and my life are back in Silicon Valley, which is also much closer to my family. Seeing how much I’ve left behind these past few years, it is clear to me that the time has come to return,” Hugo said in a Facebook post announcing the departure.

A former vice president at Google, Hugo left the tech giant in 2013 to join what was then a little known Chinese startup. He has been in charge of Xiaomi’s international expansion since. Earlier this month, Xiaomi said its India revenues had crossed US$1 billion in 2016, making it the Chinese startup’s biggest international market.

“As I thought about this late last year, I concluded that Xiaomi is in a very good place on its global expansion path, and if there was ever going to be a good time for me to come back home, that time is now — when I can confidently say our global business is no longer just an in-house startup,” Hugo said in the Facebook post.

See: What happened to Xiaomi?

Xiang Wang, the company’s senior vice president, will lead the company’s entire global efforts moving forward, Xiaomi co-founder Lin Bin said in a separate Facebook post.

“As much as we would love to have Hugo stay with us in Beijing for a much longer time, we understand his personal challenges and wish him all the best in his future endeavours. I’m also looking forward to working closely with him in his new role as advisor to Xiaomi,” he said.

Hugo Barra (R) and Lin Bin. Photo credit: Hugo’s Facebook feed.

Hugo said he will be out by February after Chinese New Year. “I will take some much-needed time off before embarking on a new adventure back in Silicon Valley,” he added.

Despite success in India, on the whole, Xiaomi has had a challenging 2016. The company is battling falling demand and competition from other affordable brands like Huawei, Oppo and Vivo. Some experts say the company has been too slow to tune into the needs of today’s Chinese users.

This post Hugo Barra to leave Xiaomi for the clean air of Silicon Valley appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2jnUgP1