JFDI looks to scale up with 3 new accelerator programmes in 2014
After graduating 27 startups in the past two years JFDI looks at creating structures that will help support startups before and after the acceleratorBy Saloni Surti 23 Jan, 2014
Aspiring entrepreneurs in Southeast Asia are in for an opportunity of a lifetime. Singapore based accelerator programme, The Joyful Frog Digital Incubator (JFDI) announced three runs of its accelerator program back to back through 2014.
In exchange for an equity stake, teams accepted into the program will be offered a package including S$25,000 (US$ 19,500) net cash, mentoring valued at S$150,000 (USD 117,000), technical and other vendor perks worth S$300,000 (USD 234,000). Participants can also leverage JFDI’s innovation campus and have the opportunity to pitch to over 100 active early-stage investors at a demo day.
Ray Wu, Accelerator Manager expressed that they are a lot more confident after graduating 27 teams in the past two years and they plan to take it to the next level this year. “The next two years are all about scaling up and putting in place structures to support startups both before and after the accelerator, giving as many people as possible access to the awesome network that’s developing around us.”
Sixty per cent of JFDI’s alumni startups have managed to receive stage funding offers averaging S$600,00 (US$468,000) per team in the past.
“From day one teams literally work in the same room as people who are willing and able to finance their growth step by step. Those investors and mentors have the experience and contacts to get teams much further and faster than they would on their own and that’s why we call it an accelerator,” shared Meng Wong, Co-Founder and social engineer at JFDI Asia.
Teams entering JFDI Asia usually have built their ties with potential customers and developed prototypes of their starups and some have nearly million users and external investments.
All accepted teams are required to incorporate (or re-incorporate) in Singapore. The dates for all the three programmes are 20th March, 26th June and 2nd October and each batch will include 10-15 startup businesses.
Featured and Lead Image Courtesy: JFDI