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Daily Markup #111: The 500-backed founders shaping Asia’s tomorrow, as listed on the latest Gen.T

Leaders of tomorrow

  • Generation T, the offshoot of regional media group Tatler Asia, has released the latest Gen.T List. The annual ranking highlights entrepreneurs and creatives who, according to the magazine, are shaping Asia’s future.
  • Every year, Generation T features 400 such individuals.
  • And this latest installment ranks a number of founders from the #500Strong family!
Credit: Gen.T
  • They are:
    Francesca Chia (GoGet) for empowering the gig economy
    Mohammad Farahani (SEPPURE) for reducing environmental waste through new forms of chemical separation
    Nathanael Faibis (Alodokter) for providing accessible healthcare
    Will Fan (NewCampus) for upskilling professionals with 21st century tools
    Wai Hong Fong (StoreHub) for pioneering a streamlined PoS system
    Umang Rustagi (FinAccel) for providing Indonesians with new forms of credit
    Anthony See (Food Market Hub) for automating the food supply chain
    Val Yap (PolicyPal) for making insurance policies easy to track
    Fui-Yu Choong (Kaodim) for changing how Malaysians book services
    Wellson Lo (Bibit) for democratizing capital market investment in Indonesia.
  • Congrats on the recognition, founders!
  • Check out the full list here.

Worldwide recognition

  • 500-backed Bukalapak was awarded the International Data Corporation Digital Transformation (IDC DX) Award for its mutual fund platform, BukaReksa.
  • Regionally recognized, the IDC DX Award is a program where country-level awards are first presented to organizations in the Asia Pacific.
  • Now in its fourth year, IDC’s DX Awards honors the achievements of organizations that have successfully digitized one or multiple areas of their business through the application of digital and disruptive technologies.
Credit: PYMNTS
  • Launched in 2018 as the company’s own investment arm, BukaReksa provides accessible mutual investment opportunities to users from all socioeconomic levels, falling in line with the mission to create a “fair economy for all”.
  • By leveraging AI and machine learning capabilities, the BukaReksa team captures 90 million user risk profiles, which allows them to tailor product recommendations to suit different needs.
  • BukaReksa now offers 25 mutual fund offerings. It also provides an automation feature that distributes a user’s funds into multiple funds based on their profiles and investment patterns.
  • Get to know more about BukaReksa here.

Digital food courts

  • To help traditional vendors participate in the digital economy and grow their businesses, 500-backed Grab has introduced “Food Courts by GrabFood”.
  • While the initiative aims to boost the sales of more small and traditional businesses across the country, it also allows the homegrown everyday app to serve Malaysians nationwide with a variety of more affordable, local food.
Credit: KL Foodie
  • With “Food Courts by GrabFood”, customers can now order from different vendors in a single food court and pay only one delivery fee.
  • “Traditional food courts and markets are a huge part of our society that make us uniquely Malaysian and although movement restrictions have eased, many have seen a great loss in footfall, impacting their income and livelihoods,” said Sean Goh, managing director of Grab Malaysia.
  • This “mix-and-match” approach by Grab was first introduced during the movement control order (MCO) period through Grab’s Pasar and e-Kitchen Bazaar initiatives.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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500 Southeast Asia Team