How popular is video conferencing in the country? According to Computer Business Review Online, about 56 percent of users resort to video calls at least once a week.
In Singapore, more than two thirds of respondents were vocal about their use of video conferencing for at least once a week.
Startups Thriving in Local Environment
Last year, the FinTech program in Singapore announced the 10 startups that qualified for the bootcamp, with a selection process that lasted for 6 weeks and had about 300 applications, reported by Tech in Asia.
However, given the country’s ripe environment for startups and entrepreneurship, it’s safe to say that some of the players who didn’t get a chance to nab a place on the top ten would likely come back this year with a vengeance.
As Singapore continues to provide a supportive environment to startups in the country, more and more startups are coming out of the woodwork.
Video Conferencing Ideal for Startups
Of course, while environment is a major factor of startup success, there are other factors at work. One these is technology.
While the market is saturated with new and rapidly changing technologies, few are as cost-effective as one popular start-up staple: video conferencing systems.
So if you’re thinking about joining all the fun, here are some reasons why investing in tools like enterprise video conferencing system from Blue Jeans is the kind of move guaranteed to put your startup on the map:
A lot of companies and governments are willing to put money into the technology. That’s great news. As more people use the system, more enhancements are rolled out until you end up with an improved system at a much lower cost.
And of course, the lower the cost, the less funds you have to spend to get it. In a startup, where worrying about where your next round of funding would come from, getting low-cost, efficient systems will go a long way to keeping the business afloat
Better attention span
Unlike chat or email, video lets you talk to the person face to face. So you know if the person is actually listening to you or not, if the people on the screen are as engaged as you want them to be.
Because of the face to face nature of video conferencing, your remote teams can actually see each other or wave a friendly hello at each other every day.
So when they talk about work, it’s easy to see what the other one is saying, given the facial expression and body language, lessening the risk of employees getting instructions misconstrued or upsetting other people with an innocent email that might come off as rude or standoffish. Less time wasted on such matters mean less delays.
With video, you don’t have to wait for the back-and-forth exchanges typical in emails so finalizing decisions are easy. This makes for faster production times, allowing you to even ship off orders or finish projects way ahead of schedule. That’s efficiency in top form.
Face to face interaction matters. Knowing who you work with—even if it’s just meeting them visually—makes you feel closer to them. So when there are project deadlines to be hit or campaigns to be revised, your remote teams can easily handle the task because they’ve already built rapport and a sense of team work from all those times they talked to each other on video.
With features that allow you to capture the screen or share content or go over every page with everyone else on the video meeting, video conferencing solutions allow your remote teams to work together in a more efficient style.
In the past, it used to be difficult to schedule trainings. After all, they ate quite a lot of time and there were always deadlines to be met and projects to be done. With video conferencing though, you can easily arrange training session over video. Since you no longer have to travel to the site, you can easily use those hours to conduct your training sessions via video. That way, you can look after the needs of your members without compromising too much of your time. Win-win on all sides.
Since you can literally run your team from anywhere, hiring from anywhere isn’t a problem. It’s easy to stay in touch with your remote employees with video conferencing.
These days, a lot of millennials look for flexibility in their work. By offering work-from-home solutions possible through video conferencing, you can lure away some of the best and the brightest from major companies who have bigger pockets than you do and can offer so much more in terms of pay.
From reduced travel, zero costly delays in production, and a whole lot more, video conferencing offers you more than cost savings. It gives you a chance to take your startup business straight to success.
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Has Covid-19 prompted the Belt and Road Initiative to go green?
– Chinese overseas investment dropped off in 2020
– Government remains committed to the wide-ranging infrastructure programme
– Sustainability, health and digital to be the new cornerstones of the initiative
Following a year of coronavirus-related disruptions, China appears to be placing a greater focus on sustainable, digital and health-related projects in its flagship Belt and Road Initiative (BRI).
As OBG outlined in April last year, the onset of Covid-19 prompted questions about the future direction of the BRI.
Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through large-scale infrastructure development.
By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn – were planned or under way across the world.
However, as borders closed and lockdowns were imposed, progress stalled on a number of major BRI infrastructure developments.
In June China’s Ministry of Foreign Affairs announced that 30-40% of BRI projects had been affected by the virus, while a further 20% had been “seriously affected”. Restrictions on the flow of Chinese workers and construction supplies were cited as factors behind project suspensions or slowdowns in Pakistan, Cambodia and Indonesia, among other countries.
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