August 16, 2017 By:
Copyright: mindscanner / 123RF Stock Photo. Airbnb, Salesforce and General Electric (GE) consistently tops the list of best companies to work for. They share a common success ingredient – strong employer branding. The process of employer branding refers to promoting your startup as an employer of choice for prospective talents. It serves to fulfill three main functions: attract, recruit, and retain ideal employees. Instead of pumping large amounts of resource into recruitment and retention, did you know that by investing in employer branding in the early stages of your company, you can save up to US$4723 per employee hired? As your startup establishes a foothold in the market, it will scale up rapidly and more talent is needed to sustain the growth. This is where efforts in brand building will pay off. Strong employer branding gives you advantage in attracting talented job seekers over larger companies. Here are some tips to get you started on building your employer brand: Set your Employer Value Proposition (EVP) An Employer Value Proposition (EVP) explains what makes your startup unique and reflects your competitive advantage. It must positively influence prospective and existing employees by giving them a valuable reason to want to work for you. Ideally, the EVP should outline offerings that match an employee’s career goals. To achieve this compatibility, always adopt a bottom-up approach in defining your EVP. Invest in employee engagement and listen to ground sentiments. Find out what makes them tick and what they like about the company. For example, Airbnb, having overtaken Google as the top employer for 2016 in a Glassdoor list, alludes a big part of this achievement to its culture. An employee experience team was set up to inject ‘fun’ into the workplace through organising birthday celebrations and anniversaries. With this people-centric approach towards recruitment and retention, it is no wonder Airbnb is one of the best companies to work for. Weave in your company narrative When making decisions, recruiters tend to trust personal recommendations. The same applies to applicants because hiring for the right fit is a two-way street. Jobseekers refer to employee reviews and form their opinion of your company. Glassdoor is one of the platforms where they go to. Employee testimonials not only ensures authenticity but also humanizes your brand. Salesforce has done a great job in this aspect, using a strong internal referral program. There is a #dreamjob hashtag for employees to show off on social media why they are an employer of choice. Employees post work anecdotes on Salesforce’s Instagram page. Leverage on your digital connections Evident from Salesforce’s success, social media is a powerful medium for employer branding. It is affordable and widely accessible. This is especially useful for startups who are often faced with budget constraints. With a 21 percent increase in active social media users from January 2016, online communities are expanding. That’s a whooping 482 million users! Leveraging on social media’s influence, startups can engage with potential hires easily. General Electric (GE) has done exactly that with its integrated social media strategy. The strategy engages stakeholders ranging from science enthusiasts to data scientists. Using a business case challenge with Kaggle, a crowdsourcing community for data scientists. The competition invites participants to propose innovative solutions for problems faced by GE. Startups may not have the capacity to launch a multi-pronged strategy like GE, but it is never too late to start small. To begin, you can concentrate employer branding efforts on selected platforms. Develop a long-term plan to engage and excite followers regularly with quality content. With a sustained presence, you can then work towards more intimate engagement. It converts followers into brand ambassadors. After following these steps to build your employer brand, it is time to evaluate the effectiveness of your efforts. This can be done by surveying ground sentiments from employees on what they like about the company and looking at the quality of applicants for your job openings. Amid today’s war for talent, it is important to ensure your startup projects the right messages and identity to attract suitable talent. Source: https://www.techinasia.com/startups-strategize-employer-branding-beginning

August 16, 2017 By:
Copyright: rawpixel / 123RF Stock Photo. Posting job openings on an online portal can feel like waiting for fish to bite on a pole. It’s a game of patience and luck. Sure, there are fish swimming down there but catching one is entirely up to chance. With the unrivaled popularity of online job portals, looking for prospective employees has never been easier. These can range from simple bulletin boards to complex matchmaking systems. Regardless, the long wait may be detrimental for your company. While you’re twiddling your thumbs, your company is already in need of a new employee. Contrary to the convenience it offers, merely posting on online job portals is never enough. Even now, nothing still beats contacting prospective employees directly. According to a Stack Overflow survey, only 17.9 percent of developers found their current job through online portals. Most still rely on good old-fashioned networking to get a job. You’re not tapping the best developers and software engineers. Based on LinkedIn’s Global Talent Trends 2015, only 30 percent of the global workforce is actively looking for a job. More specifically, 62.1 percent of the developing community is open to new opportunities but are not active in the job hunt. Meanwhile, only 13.1 percent are active on job portals. Mathematically, you’re tapping only a fraction of your prospective employees. Where can you find the 62.1 percent? While they may still have job portal accounts, they can be found in larger online communities. These range from large professional networks like LinkedIn to developer platforms like GitHub. Software engineers and developers are members of the creative community. Like other creators, they recognize the value of uploading their portfolios online. These provide an excellent way for getting to know their work and contacting them. Conversely, developers aren’t just screen junkies who glue their eyeballs to their monitors all day. They often hang out in public community events like DataScience Singapore. Networking at these events creates interesting opportunities for both you and the developer. Contacting developers directly creates repertoire. Online job portals can reduce applicants to a resume and a profile. Meeting developers or messaging them directly puts a face on the name. It gives you a chance to informally get to know a potential employee without the pressure of an interview environment. You’ll get to know him or her as both a person and a developer. A whopping 85 percent of job openings are still filled through networking, according to Lou Adler, author of The Essential Guide for Hiring and Getting Hired. In fact, 89 percent of applicants accept a job offer faster when the recruiter contacts them directly. The benefits of having a personal conversation with an actual person without a mediator are undisputable. Applicants will have more details about the job. Conversely, an applicant can learn about an opportunity better when they meet someone directly linked to the company. Job portals are often comprehensive when it comes to objective company information. However, there’s only so much that a developer can learn through a job description. Details like compensation and working culture are some things that jobseekers would want to know. Getting to know prospective employees directly mitigates this, even on an informal basis. Through a direct conversation, you can both promote your company and foster a potential applicant’s interest before the recruitment process starts. Based on another Stack Overflow survey, the top criteria that a developer considers in a new job includes: growth opportunities, compensation, culture, and design languages used. These are elements that are impossible to convey in a few paragraphs on a job portal properly. Technology makes job seeking more convenient for employers and applicants. The ease, however, takes away from a more lasting relationship that can be fostered by good, old-fashioned networking. Despite everything, the value of a relationship is not lost on advancing technology. Networking is still an employer’s number one tool in finding new employees. Source: https://www.techinasia.com/networking-hire-developers

August 16, 2017 By:
Photo credit: rawpixel / 123RF Stock Photo. Digitalization is no longer a strategy that can be ignored by either SMEs or big corporations. In our rapidly-advancing digital world, the companies that survive are those that can flexibly adapt to online strategies. Despite how accessible digitalization is, implementation can be difficult. A majority of global companies have already attempted to go digital. However, more than eight out of ten of digitalizing companies fail in the attempt because they don’t adequately know how. On July 27th, at International Enterprise (IE) Singapore’s iAdvisory Forum, decision makers from local companies aspiring to go digital got the chance to meet different professionals in five different tech backgrounds through a “speed-dating” segment, powered by Tech in Asia’s Community Recruiting. Instead of romance, participants were looking for a wealth of wisdom on how to make a switch from traditional to online. As was evident, participants had a flurry of questions and concerns they were more than willing to resolve with the help of tech professionals. Here are just some examples of what companies were troubling with when it comes to digitalization: Customers are switching to mobile Businesses realize that their markets are making the switch to online platforms. However, tapping your market online isn’t as simple as creating your own Facebook page. You’ll need your own ecommerce platform, a fully workable website, and mobile app flexibility, among others. Even businesses who have already established their online presence aren’t immune to the rapid changes of the digital world. The tech industry is always changing. Once one trend peaks, another is hot on its heels. For example, Totobobo is a business that designs and sells respiratory protective masks. Totobobo founder Francis Chu shared his sentiments that most of his customers do prefer the convenience of online mobile shopping. Another example is Saturday Club, an online fashion store that built their ecommerce platform five years ago. Despite already having an established website, Saturday Club now needs to make another switch—to mobile platforms. They realize that their customers are migrating from purchasing with their desktops to their mobile phones. Designing a wonderful website isn’t enough if consumers are redirecting their purchasing power into mobile platforms. Speeding up business to business Consumers aren’t the only beneficiaries with the transition to digital. Even more robust companies in traditional business-to-business transactions are preferring the ease and convenience of digital methods. They realize that traditional methods take too much time relative to the speed of online transactions. A few clicks can beat the hassle of red tape and multiple signatures. For example, a long-established shipping and engineering company can analyze that their old business processes can be dramatically optimized by digitalization. Being deeply ingrained in traditional practices, the company may not know how to go digital at all. Educating on the benefits of digital While a majority of global corporations do recognize the value of digitalization, more traditional brick-and-mortar companies are reluctant to delve into unfamiliar territory, particularly when established methods have already been proven before. Why fix what isn’t broken, they ask. Eunoia is an ecommerce platform that caters to food and beverage businesses. Living in an industry more traditionally known for face-to-face interactions with customers, several F&B businesses don’t see the need to go digital. Eunoia’s biggest challenge is educating businesses that a proper back-end solution can optimize even processes located in the front-end. Going digital shouldn’t have to be daunting. Regardless of which industry you’re in, there is always a way to go digital. Likewise, there is always a tech community ready to help in any way they can. Networking through IE SG’s iAdvisory Forum is just one way to connect with experienced tech professionals. Tech in Asia holds a lot more events that offer prime opportunities to get involved with the tech community. Are you going through digital transformation? Wondering where you can look for the right talent to transform digitally? Are you wondering how to make the shift to digital transformation? Tech in Asia’s Community Recruiting team is a premium recruiting service specializing in hiring tech talent and have helped companies such as Smartly.io with their recruiting needs. Find out about it can help you transform your business by building the right team. Source: https://www.techinasia.com/traditional-businesses-going-digital

August 16, 2017 By:
In Deskera’s early years, founder and CEO Shashank Dixit slept at Singapore’s Changi Airport for days at a time just to save costs. Capital was dry in 2008, unlike today’s investor-fuelled startup scene. It was the year Dixit registered his company in the city-state. It was also the year the global economy burst into flames. Undeterred, Dixit went door-to-door selling his online enterprise software to customers, and got many rejections. These same folks now welcome him with open arms. Deskera made just under US$42 million in revenue last year. It’s also been profitable in many of its years of existence, a rare feat for young internet firms. Deskera is putting Singapore on the enterprise software map. Unlike massive incumbents Oracle and SAP, it is laser-focused on serving small and medium enterprises (SMEs). “Asian success stories have started from SMEs,” he says, citing Alibaba and Sony as companies which prospered by first serving small businesses. Deskera keeps its solutions affordable by offering mass market software to tackle common and complex problems that small firms face. For US$6,600 a year, SMEs get an enterprise resource planning (ERP) software, which essentially integrates various business functions together so they can be easily managed. ERP is critical for businesses that manage inventory, says Dixit. A cafe chain with two stores and a warehouse is a good example. If one store runs out of sugar, it can request more packets from the other store or the warehouse. But as the chain adds more stores, the number of paths that inventory can travel on grows exponentially. Soon, using spreadsheets to track the flow of goods becomes impossible. That’s where Deskera comes in. Its 80,000-strong clientele today includes Starbucks and Sushi Tei. GST: Music to its ears Deskera’s genesis in 2004 was cliche enough. A group of guys get together in a college dorm. They had a dream and built a company. That’s what Dixit did with his mates from the Indian Institute of Technology-Kanpur: Somesh Misra, Brajesh Sachan, and Paritosh Mahana. Things then took a different turn. The team moved the company to Singapore where ERP software penetration was low. Dixit betted that country was on the cusp of change: A new generation of internet-savvy entrepreneurs was starting or taking over businesses, and they’d be willing adopters of cloud apps. Deskera had another ace up its sleeve. The Singapore government started proactively encouraging businesses to become more compliant with the country’s Goods and Services Tax (GST). So the startup tweaked its software to help businesses manage their GST and got it approved by the Inland Revenue Authority of Singapore, the country’s tax collector. Another strategy it employed was securing distribution partnerships. One of its early partners was a telco and cable provider. “Starhub brought my sales cost down because their sales people became my sales people,” he says. Entrepreneurs: Shed your pretense If the adage that nine out of 10 startups fail is true, that makes Deskera a rare Singapore survivor alongside mainstays like property listings site Propertyguru, which was started in 2007. In all these years, Dixit has seen a sea change in the startup scene. “I’ve come from an era where money was extremely expensive,” he says. “In the mid-2000s you couldn’t raise any capital. You’d go to investors and they would laugh at you and throw you out.” With fundraising options aplenty these days, he feels entrepreneurs sometimes forget a fundamental rule: Cash flow above all. It’s okay to be unprofitable if customers are paying you on time to keep the lights on. Once the cash flow stops, monetization means nothing, he says. So there’s a lot that hip startups can learn from traditional businesses. “What’s the difference between guys who open up a store – whether it’s a store for supplies, or printing, or a hawker store – and a guy wearing a jacket and having stubble who’s sitting at Block 71?” Ultimately, internet startups have to respect the basic rules of business just like traditional SMEs, he says. Singaporeans: Stop seeking validation Deskera today has over 300 employees as it expands rapidly into Indonesia and India. It’s taking its GST-compliant strategy to India, which introduced that form of taxation this year. It has expanded its product line to include customer relationship management, HR, project management, and more. Singapore offers the best human capital in the region.Dixit attributes its rapid progress to an unlikely source: Unassuming and hardworking Singaporeans, who often look down on themselves. “Singapore offers the best human capital in the region,” he says in his office in One Raffles Place, overlooking the country’s skyline. He heaps praise on his Singaporean colleagues – Johan Tan, an ex-government scholar with the Singapore Economic Development Board who heads up Deskera’s Indonesian presence, the company’s India and Malaysia office heads, his trustworthy assistant Lace Sim, and the Singapore Management University fresh graduate who comes in earlier and leaves later than him. Young people in Singapore are well-trained, he says. They just need more exposure to develop their potential, and better awareness of how competent and dependable they actually are relative to workers from the rest of the region. “It just takes one trip out of Singapore to realize how good the systems are here,” he adds. Dixit adds that he’s amazed by the high ratio of imaginary bad things, perceived by locals, to real good things. “We’ve got it,” he says. “We can be a global nation of high-tech providers.” ABOUT DESKERA LOCATION Singapore FOUNDED October 2008 WEBSITE www.deskera.com HIRING 0 positions LATEST FUNDING No data Deskera is an integrated business software suite that helps you run your business - from sales to customer service, product to inventory management, payroll to recruitment, accounting to profits. View full profile in our Database. Editing by Jack Ellis and Judith Balea (And yes, we’re serious about ethics and transparency. More information here.)

August 16, 2017 By:
Photo credit: Tran Mau Tri Tam. Some of the feedback I hear from new developers working on a programming problem revolves around an uncertainty of where to start. You understand the problem, the logic, the basics of the syntax, etc. And if you see someone else’s code or have someone to guide you, you can follow along. But maybe you feel uncertain about doing it yourself and have trouble turning your thoughts into code at first, even though you understand the syntax or logic. Here, I’ll present my process to tackle a sample problem. Hopefully, some of you may find this helpful in your programming journey. 1. Read the problem at least three times You can’t solve a problem you don’t understand. There is a difference between the problem and the problem you think you are solving. It’s easy to start reading the first few lines of a problem and assume the rest of it because it’s similar to something you’ve seen in the past. Even if you are making a popular game like Hangman, be sure to read through the rules even if you’ve played it before. I was asked once to make a game like Hangman and only realized that it was “Evil Hangman” after I read through the instructions (it was a trick!). Sometimes, I’ll even try explaining the problem to a friend and see if her understanding of my explanation matches the problem I am tasked with. You don’t want to find out halfway through that you misunderstood the problem. Taking extra time at the beginning is worth it. The better you understand the problem, the easier it will be to solve. Let’s pretend we are creating a simple function selectEvenNumbers that will take in an array of numbers and return an array evenNumbers of only even numbers. If there are no even numbers, it will return the empty array evenNumbers. Here are some questions that go through my mind: How can a computer tell what is an even number? Divide that number by two and see if its remainder is zero. What am I passing into this function? An array. What will that array contain? One or more numbers. What are the data types of the elements in the array? Numbers. What is the goal of this function? What am I returning at the end of this function? The goal is to take all the even numbers and return them in an array. If there are no even numbers, the function will return an empty array. 2. Work through the problem manually with at least three sets of sample data Take out a piece of paper and work through the problem manually. Think of at least three sets of sample data you can use. Consider corner and edge cases as well. Corner case: a problem or situation that occurs outside of normal operating parameters, specifically when multiple environmental variables or conditions are simultaneously at extreme levels, even though each parameter is within the specified range for that parameter. Edge case: a problem or situation that occurs only at an extreme (maximum or minimum) operating parameter. Here are some sets of sample data we can use: When you are first starting out, it is easy to gloss over the steps. Because your brain may already be familiar with even numbers, you may just look at a sample set of data and pull out numbers like 2, 4, 6, and so forth in the array without fully being aware of each and every step your brain is taking to solve it. If this is challenging, try using large sets of data, as it will override your brain’s ability to naturally solve the problem just by looking at it. That helps you work through the real algorithm. Let’s go through the first array [1] Look at the only element in the array [1]. Decide if it is even. It is not. Notice that there are no more elements in this array. Determine that there are no even numbers in this provided array. Return an empty array. Let’s go through the array [1, 2] Look at the first element in array [1, 2]. It is 1. Decide if it is even. It is not. Look at the next element in the array. It is 2. Decide if it is even. It is even. Make an array evenNumbers and add 2 to this array. Notice that there are no more elements in this array. Return the array evenNumbers which is [2]. Go through this a few more times. Notice how the steps I wrote down for [1] varies slightly from [1, 2]. That is why I try to go through a couple of different sets. I have some sets with just one element, some with floats instead of just integers, some with multiple digits in an element, and some with negatives just to be safe. 3. Simplify and optimize your steps Look for patterns and see if there’s anything you can generalize. See if you can reduce any step or if you are repeating any. Create a function selectEvenNumbers. Create a new empty array evenNumbers where you can store even numbers if there are any. Go through each element in the array [1, 2]. Find the first element. Decide if it is even by seeing if it is divisible by two. If it is even, add that to evenNumbers. Find the next element. Repeat step #4. Repeat step #5 and #4 until there are no more elements in this array. Return the arrayevenNumbers, regardless of whether it has anything in it. This approach may remind you of mathematical induction because you: Show it is true for n = 1, n = 2, ... Suppose it is true for n = k Prove it is true for n = k + 1 4. Write pseudocode Even after you’ve worked out the general steps, writing pseudocode that you can translate into code will help with defining the structure of your code and make programming a lot easier. Write pseudocode line by line. You can do this either on paper or as comments in your code editor. If you’re starting out and find blank screens daunting or distracting, I recommend doing it on paper. Pseudocode generally does not have specific rules in particular, but I sometimes end up including some syntax from a language just because I am familiar with it. Don’t get caught up with the syntax. Focus on the logic and steps. For our problem, there are many different ways to do this. For example, you can use filter but, for the sake of keeping this example as easy to follow as possible, we will use a basic for loop for now (but we will use filter later when we refactor our code). Here is an example of pseudocode that has more words: Here is an example of pseudocode that has fewer words: Either way is fine as long as you are writing it out line by line and understand the logic in each line. Refer back to the problem to make sure you are on track. 5. Translate pseudocode into code and debug When you have your pseudocode ready, translate each line into real code in the language you are working on. We will use Javascript for this example. If you wrote it out on paper, type this up as comments in your code editor. Then, replace each line in your pseudocode. I then call the function and give it some of the sample sets of data we used earlier. I use them to see if my code returns the results I want. You can also write tests to check if the actual output is equal to the expected output. I generally use console.log() after each variable or line. This helps me check if the values and code are behaving as expected before I move on. By doing this, I catch any issue before I get too far. Below is an example of what values I would check when starting out. I do this throughout my code as I type it out. After working though each line of my pseudocode, below is what we end up with. // is what the line was in pseudocode and the boldfaced text is the actual code in Javascript. I then get rid of the pseudocode to avoid confusion. Sometimes, new developers will get so hung up with the syntax that it becomes difficult to move forward. Remember that syntax will come more naturally over time and that there is no shame in referencing material for the correct syntax later on when coding. 6. Simplify and optimize your code You’ve probably noticed by now that simplifying and optimizing are recurring themes. In this example, one way of optimizing the function would be to filter out items from an array by returning a new array using filter. This way, we don’t have to define another variable evenNumbers because filter will return a new array with copies of elements that match the filter. This will not change the original array. We also don’t need to use a for loop with this approach. filter will go through each item and return either true (include that element in the array) or false (skip the element in the array). Simplifying and optimizing your code may require you to iterate a few times, identifying ways to further simplify and optimize code. Here are some questions to keep in mind: What are your goals for simplifying and optimizing? The goals will depend on your team’s style or your personal preference. Are you trying to condense the code as much as possible? Is the goal to make the code more readable? If that’s the case, you may prefer taking that extra line to define the variable or compute something rather than trying to define and compute all in one line. How else can you make the code more readable? Are there any more extra steps you can take out? Are there any variables or functions you ended up not even needing or using? Are you repeating some steps a lot? See if you can define in another function. Are there better ways to handle edge cases? 7. Debug This step really should be applied throughout the process. Debugging throughout will help you catch any syntax errors or gaps in logic sooner rather than later. Take advantage of your Integrated Development Environment (IDE) and debugger. When I encounter bugs, I trace the code line by line to see if there was anything that did not go as expected. Here are some techniques I use: Check the console to see what the error message says. Sometimes, it’ll point out a line number. This gives me a rough idea of where to start—although the issue sometimes may not be in this line at all. Comment out chunks or lines of code and output that I have so far to quickly see if the code is behaving how I expected. I can always uncomment the code as needed. Use other sample data if there are scenarios I did not think of and see if the code will still work. Save different versions of my file if I am trying out a completely different approach. I don’t want to lose any of my work if I end up wanting to revert to it! 8. Write useful comments You may not always remember what every single line means a month later. And someone else working on your code may not know either. That’s why it’s important to write useful comments to avoid problems and save time later on if you need to come back to it. Stay away from comments such as: // This is an array. Iterate through it. // This is a variable I try to write brief, high-level comments that help me understand what’s going on if it is not obvious. This comes in handy when I am working on more complex problems. It helps me understand what a particular function is doing and why. Through the use of clear variable names, function names, and comments, you (and others) should be able to understand: What this code is for What it is doing 9. Get feedback through code reviews Get feedback from your teammates, professors, and other developers. Check out Stack Overflow. See how others tackled the problem and learn from them. Sometimes, there are several ways to approach a problem. Find out what they are and you’ll get better and quicker at coming up with solutions yourself. 10. Practice, practice, practice Even experienced developers are always practicing and learning. If you get helpful feedback, implement it. Redo a problem or do similar problems. Keep pushing yourself. With each problem you solve, the better a developer you become. Celebrate each success and be sure to remember how far you’ve come. Remember that programming, like with anything, becomes easier and more natural with time. Thanks, Gavin Stark. This article was first published on Medium.

August 16, 2017 By:
Investments in technology firms are in decline across Asia as a whole, but Southeast Asia is bucking the trend right now. US$946.4 million in funding was ploughed into Southeast Asian tech companies in the first six months of the year, versus US$826.9 million the same period last year, according to the Tech in Asia Database. The second half of the year is going to be even stronger thanks to Grab’s US$2 billion in July. Indeed, that round leads our chart of Singapore’s 10 biggest funding rounds so far this year. Source: https://www.techinasia.com/singapore-10-best-funded-startups-in-2017-so-far

August 16, 2017 By:
Singapore digital start-up AirTrunk has raised $400 million from global investment bank Goldman Sachs and private equity group TPG’s TSSP to fund the construction of its flagship centres in Sydney and Melbourne. The company, founded by former data company NextDC chief financial officer Robin Khuda 2½ years ago, is aiming to be a significant digital landlord for cloud services across the Asia Pacific and has plans to invest up to $US1.7 billion ($1.53 billion) in data centres across the region. The deal with Goldman Sachs and TPG’s global credit and special situations platform TSSP – which will join AirTrunk as majority shareholders – will fund the construction of two sites in Sydney and Melbourne that the company has already acquired. AirTrunk secured the Sydney data centre site at 35 Huntingwood Drive, Huntingwood in Sydney’s west for $31 million from Frasers Australia in September 2016. AirTrunk's Melbourne site in Derrimut,west of the CBD. AirTrunk’s Melbourne site in Derrimut,west of the CBD. Photo: Supplied It has since lodged a development application for a facility with eight data halls over two levels and two “tech space” areas with offices. Construction at the site has started. In October, the company bought the another data centre site 176 Swann Drive, Derrimut, in Melbourne’s west for $15 million. A development application has been lodged with council for that site. Data solutions Both the sites will be hyper-scale centres and aim to provide its customers – tech giants such as Google – scalable and sustainable data centre solutions at significantly lower operating costs than its competitors, the company said. The company is not considering buying more sites at present but says the Sydney and Melbourne sites are large enough to be expanded as demand increases. When both sites are operational in the third quarter of 2017, they will only provide 20 MW of IT load out of their total capacity of 120 MW. “We are looking at campus-style facilities in each of these sites where there will be multiple buildings,” Mr Khuda told The Australian Financial Review. “We had strong level of interest in our fundraising process globally, but Goldman Sachs and TSSP stood out for their support, industry knowledge and commitment ot the AirTrunk business over the long term.” Mr Khuda has also negotiated a senior debt facility with co-debt advisors ING Bank and France bank Groupe BPCE’s financial services arm, Natixis. Credibility doubts Data centres have become an increasingly popular investment due to the rapid growth in secure information storage requirements among companies. Financial services, cloud computing users and telcos have become major tenants in data centres around Australia. Doubts were cast on the credibility of AirTrunk last year due to Mr Khuda’s association with NextDC, which had a share price collapse in September. But Mr Khuda dismissed any suspicions, saying the company and NextDC were separate. “We’ve been through a start-up phase, now we have an office in Neutral Bay [Sydney] … we do not have offices like traditional corporates,” Mr Khuda said. AirTrunk has a lean set-up with only 12 employees so far and outsources a lot of its work to consultants.

August 16, 2017 By:
Home to more than 260 million people with the average age of 27 years old, Indonesia stands out as an attractive market to both investors and businesses for its size and growth potential. Currently, all eyes are on the nation’s e-market which is projected to value at US$130 billion by 2020, behind China and India. While attention falls on the highly coveted e-commerce pie, here are four other rising tech verticals – which you probably are unaware of – that are also propelling the Indonesian startup ecosystem onto the global stage. 1. Fintech The widespread use of digital technology among its tech savvy citizens has led to the growth of fintech services in Indonesia. However, with over 120 million adults (73 percent) still unbanked, the fintech market penetration remains low, and this underlines tremendous opportunities for further growth in the future. With government efforts to strengthen consumer confidence and attract new players to the industry, Indonesia is expected to emerge as the biggest digital economic giant in the region with potential transactions hitting US$128.7 billion by 2020. 2. On-demand marketplace The on-demand economy has grown to become more prevalent – branching out across various industries from ride-hailing to domestic services, and even healthcare. In a country whose population is becoming increasingly urbanized, connected, and technology savvy, this industry presents enticing business opportunities for startups and investors alike. Following the huge successes of on-demand giants such as Go-Jek, Grab, and Uber, the outlook seems promising amidst the scaling challenges it faces. According to many market watchers, several on-demand startups could be en route to becoming unicorns. 3. Cloud Computing The archipelago is a huge potential market for cloud computing. More SMEs in Indonesia are quickly embracing cloud technology for their core business functions to compete with larger corporations. During the past five years, the cloud computing market has grown at a compounded annual rate of 48 percent – much greater than the global annual growth rate. Especially with the recent implementation of Government Regulation No. 82, which mandates Indonesian businesses conducting electronic transactions to store personal data in data centres in the country, cloud adoption is poised for rapid growth over the next few years. 4. Software-as-a-Service (SaaS) With almost 360 million SMEs in the country, the Indonesian SaaS market is still considered a blue ocean with a vast market. As cloud computing continues to show high rates of growth, SaaS, which accounts for 85 percent of the cloud market, is expected to remain dominant due to the greater ease of adoption. However, as SaaS is still relatively new in the country, the focus moving forward is to educate customers, raise awareness of its benefits, and eventually convert into a user. Stay ahead of the curve at #tiajkt2017 If you’d like to be at the forefront of the dynamic startup ecosystem, find out more about these exciting verticals, or better yet, meet the brains behind these next wave of startups, the best way to all these and more is at Tech in Asia Jakarta 2017 happening this November 1 – 2! Whether you’re there to meet potential customers and investors, network with fellow tech junkies or rub shoulders with A-list industry leaders, you’ll leave this event armoured with weapons to take your business to the next level. Are you up for it? From now till August 25, 11:59PM (GMT +7), you can get 20 percent off your conference pass with the promo code ‘tiajkt20’. See you there! Source: https://www.techinasia.com/ecommerce-big-indonesia-4
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