By Susan Cunningham
Digital News Asia | Aug 02, 2016
- eBay founder’s US$2mil grant to Phandeeyar will also support social entrepreneurs
- Myanmar SIM card subscriptions grew 10-fold in two years
A US$2-million grant from the Omidyar Network to Yangon tech community Phandeeyar will help support a for-profit accelerator programme to be launched in September.
After hearing pitches from short-listed candidates in mid-August, judges will select four to eight winning teams, according to Phandeeyar Accelerator director Jes Kaliebe Pedersen.
Each team will get US$25,000 in seed money, office space, and six months of coaching by some of Phandeeyar’s 30 mentors, who include executives and investors in Myanmar and abroad.
Each team will be able to take advantage of server hosting, advertising and other services worth more than US$200,000. The services have been donated by such corporate partners as Amazon Web Services, Microsoft, Telenor and Ogilvy.
Applicants for the accelerator must be based in Myanmar, already have a product in the works, and be willing to commit themselves development full-time for six months.
Pedersen said the judges particularly will be looking for applicants proposing an innovative, scalable product “perhaps something related to digital marketplaces, e-commerce or … MORE
BANGKOK–Two Chinese Muslims are set to go on trial in 2016 on murder charges stemming from last August’s bombing that killed 20 people and injured 125. Thai authorities don’t appear eager to probe into their accomplices or motives, however. Nor will they charge the two with terrorism, despite the web of foreigners implicated in the pipe bomb explosion at a popular Hindu-Buddhist shrine in central Bangkok.
The first man to be arrested, Bilal Mohammed, originally claiming to be a Turkish citizen called Adem Karadeg, was discovered August 29 in an apartment in a Muslim neighborhood of northeastern Bangkok. In the same apartment were several hundred forged Turkish passports and a cache of bomb-making components–suggesting that more attacks might have been planned.
Only in late September did Thai police claim that 27-year-old Bilal was the “backpack bomber” himself –the yellow t-shirted man who left his pack containing a 5-kilogram pipe bomb on a bench at Erawan Shrine shortly before the explosion. According to his lawyer, Bilal has now confessed to the crime; Bilal previously said he had arrived in Thailand–with the help of traffickers–four days after the bombing. MORE
By Susan J. Cunningham
This story appears in the March 2015 issue of Forbes Asia as “Hailing Taxis, Building a Business”
When Anthony Tan graduated from Harvard Business School in 2011, he was expected to rejoin his two older brothers at the family firm, Tan Chong Motors. Instead, the youngest Tan, now 33, decided to strike out on his own with a mobile taxi app developed for a school business-plan contest. His mother was one of the original angel investors; his father, Tan Heng Chew (No. 16 on the richest Malaysians list), wasn’t. The apple didn’t fall too far from the tree, though. Anthony says he was inspired by his entrepreneurial grandfather, Tan Yuet Foh, who was a Kuala Lumpur taxi driver before building the multinational auto sales-and-assembly empire.
Tan’s GrabTaxi wasn’t the first mobile hailing app untethered to a specific taxi company. But the concept was novel in Kuala Lumpur and Johor Bahru when Tan launched what was then called MyTeksi in June 2012. For passengers the free smartphone app enables them to hail a cab from any taxi company, regardless of their location, as well as see the identity of their driver, the route to their destination and the estimated fare. For taxi drivers the app not only earns them an extra fee (the equivalent of 28 U.S. cents for each fare in Kuala Lumpur), but also saves them from wasting gas and … MORE
Myanmar digital startup NEX has won second round funding of US$150,000 from Singapore’s Blibros Group, the privately-held investment arm of Sweden’s Böcker family. Yes, this is the family of Magnus Böcker, CEO of the Singapore Exchange and former CEO of Nasdaq OMX Nordic. NEX got its initial angel investment of $50,000 last year from Singapore investor Ned Phillips, formerly of E*Trade and Chi-East.
I met NEX’s founder and CEO, Ye Myat Min, who’s all of 23, a few months ago when I was in Yangon. NEX had 15 employees then; now there’s 20. The new investment will enable the company to build on Fyre, its Web-based software introduced in May that enables small businesses to quickly set up an online storefront. One of the first customers was TAC, the country’s first authorized re-seller of Apple products. ”Most small shops want an app, but they can’t afford to get their own. Instead, they can pay … MORE
By Susan J. Cunningham
Philippine Long-Distance Telephone’s 8.6% stake in Rocket Internet is a no-brainer: Telecom and Internet giant PLDT is a pioneer in online and mobile payments, and Rocket’s own payment system, Payleven, quickly foundered in 2012 when the first Rocket e-commerce sites were being established in Asia.
For many poorer residents the cheap smartphones now flooding into the far reaches of East and South Asia will mean their first access to the Internet, and mobile wallets will make them more likely to become online buyers. As it is now, Rocket’s six Amazon-like general shopping sites in Southeast Asia (called Lazada) as well as its nine Zappos-like apparel sites (Zalora in Southeast Asia and Hong Kong, and Jabong in India) offer the option of … MORE
This story appears in the September 2014 issue of Forbes Asia.
By John Koppisch
For the eighth straight year we spotlight notable philanthropists in the Asia-Pacific region, especially those who made news in the past year by launching new and innovative projects. The 48-member honor roll ranges from billionaires with expansive visions of how best to help society to less well-known business people whose generosity is also leaving a huge mark.
Our goal is not to rank the biggest givers–the figures would be impossible to collect. Instead we aim to call attention to people and causes. We try to identify a new group of altruists each year, though several people here are returning to the list because of an important donation or project announced since a year ago. MORE
I contributed to this annual list of Asian givers.
By Susan Cunningham
Beginning with fashion site Zalora in the Philippines in late 2011, Germany’s Rocket Internet has been hatching dozens of copycat e-commerce sites in Southeast Asia and the general vicinity–and quickly shutting down some of them. It’s invested at least $200 million already in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam–perhaps more like $500 million if Rocket startups are spending tens of millions of marketing dollars in each country as rumored.
In the coming year, we’ll probably see some of that money expended on the intense city contests for taxi-booking apps and restaurant delivery services. I also think that, as new fashion sites pop up or existing ones become more visible, Zalora will have to come up with a better selection of women’s clothing. MORE