Init 6 is making an early bet on this Indonesian coding test firm

More: Indonesia halts registrations for prospective crypto asset traders and Funding Societies takes on more debt. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- Hello {NAME} Nearly two decades ago, my primary school announced the introduction of a computer science class at a morning assembly. It was quite rare for schools in my hometown in Chennai, India at the time to even have computers, let alone enough of them to conduct classes. So this was a big deal and an eight-year-old me was nervous. With trepidation, I dragged my feet towards the computer lab - a small air-conditioned room with about 15 boxed desktop computers, a true ode to hardware of the era. But I quickly realized there was nothing to be afraid of, as my first class was a two-minute lesson on how to minimize a web browser (no joke). It only took that long because two kids had to share each monitor. Looking back now, there clearly wasn’t a well-thought-out curriculum for the class, but the experience makes me chuckle. Luckily, major strides have been made in teaching computer science in schools since then, with India's National Education Policy 2020 making coding a mandatory subject from class 6. Just like with the laws of math and principles of science, people will soon be familiar with coding at a young age. This highlights the growing importance of the subject in a technology-driven society. For example, a glance at the attrition rates at some of India’s IT firms will show that demand for quality technical talent is on the rise. However, it is no easy task for recruiters to separate the best from the rest in these industries and that’s where Indonesia-based Algobash steps in. Today’s premium story highlights what the firm offers and why Init 6, the VC firm established by two Bukalapak co-founders, became the developer skills company’s first external backer. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [Exclusive: Bukalapak founders’ fund backs early round of Indonesian coding test firm]( Algobash says its product is "on par" with global peers like HackerRank and Codility, which have become popular in SEA due to the lack of local options.  --------------------------------------------------------------- TRENDING NEWS [PayMongo’s former CFO: ‘I never stole from any company’]( Jay Olos was terminated by the company after multiple sexual harassment reports and “financial irregularities,” PayMongo CEO Francis Plaza said. [SoftBank-backed Socar sees post-IPO drop]( The South Korean car-sharing firm saw its share price fall below its listing price an hour after its market debut. [SG exchange gets nod from MAS to offer crypto services]( Bhex said that since its establishment in 2018, it has not experienced any system failure or incidents of fraud. [Vietnamese social commerce firm On Group acquires local logistics platform]( The acquisition of TopShip comes after On Group raised US$1.1 million in a seed round early this year. [Funding Societies scores $50m in debt funding from HSBC Singapore]( Since its establishment, Funding Societies has disbursed more than US$2.6 billion through 5.1 million loan transactions. [Vietnam’s Touchstone invests $2m total in 2 startups]( The VC has invested in fintech firm Credify and edtech company Prep. --------------------------------------------------------------- TECH IN ASIA POLL New polls arrive every Tuesday! Last week, Sea Group reported [its lackluster second quarter earnings report](. The tech giant not only saw its losses balloon 77% to more than half a billion US dollars, but also suspended its full-year revenue guidance for Shopee, its ecommerce unit. As a result, the Singapore-based firm’s share fell over 20% last week, [but was it an overreaction?]( [Yes]( [No]( Note: Results of our previous poll can be found at the end of the newsletter  --------------------------------------------------------------- TECH IN ASIA'S STARTUP ARENA  One week left to apply for Startup Arena! ESG founders - apply to pitch to a panel of judges live on the Singapore Main Stage to gain global visibility and stand the chance to earn part of a US$24,000 cash prize pie. Powered by East Ventures, this year's Startup Arena is open to startups that have a prototype, MVP, or existing operations in Southeast Asia in areas including (but not limited to): - Renewable energy - Digital inclusion (financial and societal inclusion) - Waste management - Food security/agritech - Battery technologies - Cleantech, greentech, or decarbonization - Healthtech - Edtech - Social or corporate governance Don't wait! This highly-anticipated event is strictly limited to five applicants - [see details and apply by September 1](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - *Event* [Tech in Asia Conference]( on Sept 15th at Menara Mandiri, Indonesia and on 21st - 22nd at Marina Bay Sands, Singapore. To create maximum support for Southeast Asia's tech community to reconnect, our 11th annual flagship conference for the first time will be HYBRID, giving attendees more flexibility than ever in choosing when, where, and how to participate. Join us in-person with your General Pass or Priority Pass, which provides access to our Indonesia and Singapore venues . P.S. [TIA Lite and Core subscribers]( get the most from our community - including a free ticket to Conference 2022, and exclusive access and offers at the event itself!  - *Free Event* [Transforming CX with conversational AI]( Building a memorable brand According to a survey from Salesforce, 60% of customers welcome the adoption of AI for a better experience. Join us at our upcoming event on August 23rd in collaboration with Telin NeuAPIX and discover: - How to get clear insights from customers and the role of AI/ML in personalizing customer experience at scale. - Business empowerment strategies, implementation, and monitoring to provide customers with a seamless customer experience. - Challenges, and tips for businesses (brands) to achieve a seamless omnichannel experience. Attendance is complimentary. [Save your seat here](  ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Product Marketing - Europe]( at JAC Recruitment Indonesia London, United Kingdom - [Chief Technology Officer (CTO)]( at MediaOne Singapore, Singapore - [Senior CRM Constultant]( at Ematic Solutions Jakarta, Indonesia - [Lead Back End Engineer]( at Female Daily Network Jakarta, Indonesia - [Lead Product Manager - Wealth]( at KoinWorks Jakarta, Indonesia - [Senior Software Engineer (Java)]( at PT Mitramas Infosys Global Jakarta, Indonesia --------------------------------------------------------------- TECH IN ASIA POLL RESULTS Previous poll question: In his keynote speech at the Korea Blockchain Week 2022, Ethereum co-founder Vitalik Butelin expects payments with [Ethereum to be more common within the next two or three years.]( In this poll we ask: have you ever used any cryptocurrency as a form of payment? Here is the break down: --------------------------------------------------------------- [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894