Accredited success

Text: Kenny Chee

As a young maverick in the technology industry, Quah Zheng Wei is open to innovative ideas and is agile in making decisions. But the 32-year-old’s youth has also created issues.

“I often felt I was underestimated due to my age, particularly when engaging with seasoned professionals,” says Zheng Wei, co-founder and CEO of Accredify, a Singapore startup. The company enables organisations to issue tamper-proof digital documents that can be easily verified using the blockchain, a searchable digital ledger.

Not one to be deterred, he focused on building his expertise and showcasing his knowledge through workshops and speaking engagements. “By actively doing these, I slowly established my credibility in the field,” says Zheng Wei.

He also did not let other speedbumps in his career get to him and shifted gears when he had to. He advises budding entrepreneurs to do the same and to embrace failure as a stepping stone to success.

In 2018, Zheng Wei’s interest in the blockchain inspired him to co-found a consultancy called Ceito to help companies adopt the technology. But he realised there was a problem with scaling the business.

So he made a switch to build a blockchain-backed product that different customers could use. This led him to co-found Accredify in 2019.

As the business grew, he adapted to changing market needs. From focusing solely on product development, the company took a more strategic approach that included market research and factoring in customer feedback.

And his efforts paid off. The five-year-old company counts more than 900 organisations in Asia and Europe as its customers.

Zheng Wei (left) at an orientation camp with his residential hall mates during his first year at NTU. He cherishes the time he spent participating in hall activities and formed lasting friendships with classmates who shared similar ambitions. 

Notably, Accredify adapted its technology, used for verifying higher education digital graduation certificates, to help Singapore’s Ministry of Health battle the COVID-19 pandemic, such as verifying COVID-19 vaccination records and test results.

The venture arm of American digital identify firm Okta took notice of the company and in March this year, invested an undisclosed sum into Accredify to help the startup expand globally and tap Okta’s 18,000 enterprise customers.

Business magazine Forbes in 2022 recognised the trailblazing efforts of Zheng Wei and Accredify’s other three co-founders, and named them in Forbes’ prestigious 30 Under 30 Asia list in the enterprise technology category.

But instead of just blazing ahead quickly and disrupting technologies along the way, Zheng Wei believes in a more balanced approach.

“In the field of digital trust, the stakes are high. Thus, thorough testing and quality assurance must accompany rapid innovation,” he explains, adding that ensuring security and reliability is paramount, as breaches can lead to significant repercussions.

Zheng Wei, who graduated with a degree in accountancy in 2016, believes his time at NTU was instrumental in shaping his professional success.

“Courses on entrepreneurship taught me the importance of resilience and adaptability in business. I also learnt the value of networking, which led to valuable connections with peers and mentors who have guided me throughout my career,” he says.

He also honed his problem-solving skills in university by participating in hackathons.

“These taught me the importance of quick thinking and adaptability, traits that have been invaluable in my career.”

 

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This article first appeared in issue 5 of U, the NTU alumni magazine.