Here’s a bi-weekly edition of this week’s The Pursuit newsletter, bringing the latest small business and entrepreneur news and commentary straight to your inbox on Wednesday mornings. Click here for the newsletter list!
In in case you missed it, forbes Recently released Asia’s annual 30 under 30 list. The 300 visionaries highlighted on the list are redefining the future of Asia’s economy and society.
More than 4,000 candidates signed up for this year’s list, a record number. Whether they’re discovering new ways to deliver goods or surfing the Web3, these award winners’ forward-thinking visions demonstrate determination and optimism. It has raised more than US$3.5 billion in funding and represents 22 countries and territories, with the largest list contributors coming from India, followed by Singapore, Japan, Australia, Indonesia and China.
Indonesian entrepreneurs — who make up 10% of the total list — are primarily building businesses to appeal to an increasingly tech-savvy audience of 274 million. One of the duos doing this is Debeasinta Budiman and Garret Koeswandi, the founders of Application Super. The 4-year-old social commerce company drives down the prices of consumer goods in Indonesia’s small towns and villages, where they are typically more expensive than in big cities. Super App focuses on the eastern part of less developed countries and works with a network of distributors who fulfill consumer needs through their apps. The company has raised $36 million in funding from investors including Alpha JWC Ventures, rapper Jay-Z and World Bank CEO Marie Elka Pangestu.
Also on the list is Kevin Zhang, who is accelerating the expansion of his Singapore-based logistics startup Inteluck across Southeast Asia after settling in the Philippines for the past eight years. According to Zhang, Inteluck expects sales to more than triple to $70 million this year, from $20 million in 2021.
Last name like South Korean actress Hoyeon who starred in Netflix show Squid Game, also made it onto this year’s list. The list also includes 15 Olympians and athletes, including American-born figure skater Elaine Jo, who represented China at this year’s Beijing Winter Olympics, winning two gold and one silver.
To view the full list, click here and explore categories from Social Impact and Enterprise Technology to Retail, E-Commerce, Healthcare and Science. Here’s a closer look at the Class of 2022.
in other news, forbes Nominations for the 2023 North American 30 Under 30 list are open. Do you know someone who made the next Instagram, Stripe or Spotify? If so, click here to nominate yourself or someone else for the list. The nomination deadline is September 1, 2022.
The Collison Brothers are setting the bar for a $95 billion unicorn with stellar balance sheets — in their plans to stay on top
Billionaire brothers John and Patrick Collison have made Stripe one of the most in-demand, valuable, and profitable startups in the world, valued at nearly $95 billion. Now they must avoid going from handicap to handicap. Businesses large and small are feeling the shockwave of global instability, and like many entrepreneurs, Collison must navigate the new normal without slowing down.
key quote: “Companies that don’t have to sing at dinner every day are getting a little muddy and lazy, I think. We still have a four times longer list of things we want to get done.” – John Collison, co-founder of Stripe
MUST READ about Forbes
Entrepreneurship has boomed amid the pandemic, with around 5.4 million new business applications filed last year, according to the US Census Bureau. While optimism reigns, it can be difficult for new business owners to get started. From insufficient research to missing a budget, these common mistakes can cost new businesses dearly.
Raised in the shadow of the US nuclear weapons program, Alexander Wang left MIT at the age of 19 to co-found Scale AI. Now he’s helping organizations like the Air Force, Army, General Motors and Flexport unlock the potential of their data. Last year’s $325 million funding round, which generated approximately $100 million in revenue, totaled $7.3 billion. Wang’s 15% stake is estimated at $1 billion, making him the world’s youngest billionaire.
Resilience is critical for small businesses, especially as they face the impact of the ongoing pandemic, the Russian invasion of Ukraine, and supply chain issues. Small business owners need to invest time in sales strategy and planning to ensure stability and growth. How to create a flexible sales strategy for small businesses.
Foundation Alloy, a vertically integrated metal parts manufacturing platform, announced that it has raised $10.5 million in a first round of funding co-led by The Engine and Material Impact and including investments from Safar Partners. Founded in February, it is a startup specializing in the manufacture of high-performance metal parts. The company says it can manufacture parts using less energy and less waste, making the manufacturing process more environmentally friendly.
Startup Red Leader aims to be someone else’s iPhone laser technology camera for DSLR – with a software solution to compete with more sophisticated and expensive hardware. The California-based company announced that it has secured $10 million in Series A funding from NextView and Micron Ventures. The startup, which has been operating quietly since 2018, previously raised around $3 million in seed capital. After the new round, he’s now worth $55 million.
“General student. Certified food scholar. Falls down a lot. Subtly charming communicator. Wannabe music fanatic.”