If you are based in Singapore, you have to know about JFDI Asia. Founded back in 2012, JFDI runs an accelerator program where selected startups go through a 100 day bootcamp. After the bootcamp, there will be a demo day where the startups will be demo-ing their startup to a group of investors, in hopes to secure investment or potential partnership. There were a total of 11 startups for its first batch in 2012. Of the original 11 startups, TribeHired is the latest company to receive funding.
Let’s look at the original 11 startups and what is the portfolio status of JFDI right now:
Fetch Fans [Active]:
Kark Mobile Education [Active]:
Source: JFDI Asia.
There are some interesting things to note too from this first batch of startups. Successful JFDI.Asia startups raised a median S$650,000 (US$521,000) per team. In total, seven out of 11 startups have now raised S$3.9 million (US$3.1 million) between them. On top of that, CEOs of JFDI.Asia funded teams project that they will create at least 33 new jobs in Singapore by end 2013, an average of eight per funded team. TNF Ventures along with angel investor Ben Ball invested in both Flocations as well as TribeHired. With the second accelerator batch already up and running, JFDI has certainly raised the bar for future accelerator programmes whom are thinking of setting up a base in Singapore or Southeast Asia.
Following its success, the pressure is now on its second batch of startups.