Web 2.0 companies are set to receive major boost as HaxAsia collaborates with BootstrapLabs for its programme in Singapore
There is disparity between the maturity of the two startup ecosystems of Asia and the West, in terms of technological innovation. That may be set to change as select groups of web 2.0 and hardware companies from Asia can potentially join BootstrapLabs‘ Silicon Valley Fast Track and accelerator programmes.
HaxAsia, a company that invests in wearable tech, smart gadgets, consumer robotics, 3D printing and other consumer-focused hardware with smart software, is partnering with BootstrapLabs for the initiative.
BootstrapLabs and HaxAsia will jointly review and curate the startups that go through HaxAsia’s programme to identify the ones that can be relocated and accelerated in Silicon Valley to build global companies. Once found, BootstrapLabs will mentor and help these companies to go to Silicon Valley quickly and possibly get them to join BootstrapLabs’ accelerator programme there.
“We are excited to work closely with HaxAsia and build future hardware 2.0 category leaders. The hardware renaissance movement is underway and many billion dollars markets are ripe for disruption,” said Ben Levy, Partner, BootstrapLabs.
Applicants should have at least a functional prototype to demonstrate or have clear abilities to create one within two months.
Bootstrap Lab’s acceleration programme in Silicon Valley is specifically designed for foreign entrepreneurs to connect and stay in Silicon Valley and build global companies. In the programme, founders have six months to connect with the Silicon Valley ecosystem and form relationships. The next six months are about executing an early product market fit, getting key customers in the US/Silicon Valley, and raising funds. Founders not only get valuable industry connections to scale their business globally, but also gain up to US$100,000 in investment funds.
After crowd-sourcing for funds via Kickstarter or Indiegogo is successful, the challenge for hardware companies in Asia is commonly associated with distribution as well as manufacturing. HaxAsia aims to solve this problem for startups by linking them with research and development resources and talent — some of them are willing to work for equity, and partners with reputable contract manufacturers.