Singapore-based Joyful Frog Digital Incubator (JFDI.Asia) today announced that it has selected a new batch of 10 startups to begin its next accelerator program.
Chosen in an open competition which saw 321 applications, these 10 teams will each be offered S$15,000 (US$11,700) net cash, mentoring valued at S$150,000 (US$117,000), technical and other vendor perks worth S$300,000 (US$234,000) and a working space for the program duration, in exchange for a minority equity stake.
Hugh Mason, co-founder and CEO at JFDI.Asia, shared that they see a “diverse set of startups joining” them today, and that most of these teams have a ready prototype. He also added that one of them has gained some traction with over a million users.
Aside from the fact that these teams come from various backgrounds, their founders, some 30 of them, also come from all around the world. Their nationalities are as follows: Vietnam and the US (five founders each), France, Singapore and Taiwan (four founders each), India and Thailand (three founders each), followed by Canada and the Philippines (one founder each).
The selected teams are:
· enMarkit - Social Commerce based Payment & Marketing Products for B2C and C2C transactions on desktop and mobiles.
· Healint - Transforming behavior analytics into meaningful health insights for patients and their families, empowering proactive action.
· Lifebox JSC - A user-friendly, efficient real-time field reporting system.
· MOLOME - A brand-linked user engagement tool based on photo sharing.
· Skimbl - A feedback system for multi-venue F&B and hospitality businesses.
· Qwikwire - A payments service for the unbanked and underbanked, enabling e-commerce to expand into emerging markets.
· TapTalents - Tool enabling enterprises to develop data analytics-driven mobile business applications for field-based knowledge workers.
· Vault Dragon - Affordable, secure and on-demand storage solutions with flexible terms, managed through a web and mobile application.
· Visual-Marks - A visual storytelling platform that provides an immersive writing, styling and reading experience.
· ZhenXin - Bridging the gap between pharmaceutical companies and patients in emerging markets.
I’m particularly impressed with this batch of JFDI.Asia startups and the offline problems they seem to be looking at. For example, I found Qwikwire and ZhenXin interesting in that they are both trying to bring consumers and providers together – in emerging markets. While we all seem to be so worried about developed countries, there’s so much potential in less developed areas.
JFDI.Asia said through its press release that more than 60 percent of its teams in 2012 completed the program, and succeeded in raising an average S$650,000 per team.