• No Longer Left on the Shelf: How Savour! Made Yet-to-be-Sold F&B Products an Attractive Proposition

    Singapore-based tech social enterprise Savour! seeks to make procurement smoother and more productive by linking up suppliers like merchants with less commercially-oriented procurers such as non-profit organisations and school clubs via its B2B e-commerce platform and app. It originally focused on food products that were blemished or had a limited shelf life, but has since expanded its range of products and services to include corporate gifts, office supplies, and event rental services. Both merchants and procurers deal with each other via the digital platform or app, which offers discounts of varying percentage depending on how soon the products would expire. Savour! was set up by Katrina Lee and a group of like-minded youths when they were all still undergraduates. They had met when participating in a green business pitch competition aimed at achieving environmental sustainability. Lee had been spurred to found the company as a result of her temporary job stints during which she had witnessed large amounts of food being wasted. Lee has plans to take the company beyond Singapore but has not yet decided to which country in the region it wishes to next expand. In the meantime, Savour! is seeking more funding to raise its merchant and customer acquisition rate, and intensify its product development.
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  • Sinwattana: Raising Capital through Crowdfunding

    In January 2021, Kwek Hong Sin, a Singaporean, attended a crowdfunding roadshow. She had been captivated by Thailand's retail environment and founded the crowdfunding platform Sinwattana in 2012 to help Thai businesses, particularly SMEs, raise capital. SMEs constituted over 99% of all enterprises in Thailand, and many were unable to borrow from banks because of strict lending requirements. These businesses suffered from the lack of government support, limited marketing skills and inadequate skilled labour. However, Kwek felt that Thai businesses were worth investing in. Crowdfunding would allow them to issue debt or equity directly to individual investors, including those overseas. Sinwattana provides consultation services to help companies succeed, and also offers business insights to prospective investors. The Sinwattana platform allows these stakeholders to connect; it provides companies with much needed capital and investors with attractive returns they might not have access to elsewhere.
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