Joyful Frog Digital Incubator (JFDI.Asia) today revealed the 12 Singapore-based startup businesses joining its fifth 100-day accelerator programme. Compared with previous programmes, the latest cohort includes companies on average at a significantly later stage of maturity.
The new teams are from countries as diverse as Poland and India. Each team will receive a US$19,650 cash investment, workspace and the option to choose from a package of free technical services valued at US$1.4 million.
Hugh Mason, Co-founder and CEO at JFDI.Asia, said, “When Meng Wong and I set up business together in 2009, phrases like ‘lean startup’ and ‘startup accelerator’ were unknown in Asia. There were no hackerspaces or co-working facilities, Singapore’s Block 71 was an empty factory shell and only a handful of early-stage investment deals got done by people who happened to know each other already. There was a lot of community building and basic education to be done. Today, that valuable work continues, but it’s now being done by many other dedicated individuals and organisations across the region. So JFDI is free to move on and that’s why we are shifting now to help more established businesses.”
Compared with the previous application process to JFDI, the selection process for the programme announced today offered more entry points to accommodate a wider range of startups. From 250 teams that applied online for the Accelerate Program, 50 teams were chosen to go through 21 days of rigorous online mentoring and ‘customer discovery’ in JFDI’s Discover Program. The final 12 startups were then selected based on business maturity, their commitment to applying a disciplined, evidence-based approach to entrepreneurship and the depth of their customer interactions.
Wong Meng Weng, Chairman of JFDI.Asia, said, “While there is plenty of early-stage capital available in Singapore, investors at every stage are getting more demanding about the maturity they want to see before they write a cheque. Our job is to prepare startups to be ready.”
Two of Singapore’s most active business angels Michael Blakey and William Klippgen, and two Series A funds Monks Hill Ventures and Northstar Silicon Island are all residents at JFDI. Together they have more than US$128 million under management.
Alex Lin who heads Infocomm Investments, JFDI’s anchor investor, said, “We observe a significant rise in the quality of tech startups with viable business models and stronger ability to attract VC funding. There is also growing energy and interest in the ecosystem to help promising tech startups at the seed- and early-stages grow through acceleration.”
The new startups joining JFDI Accelerate Program are all incorporated in Singapore. Here’s their brief introduction:
The team has developed a Software as a service (SaaS) solution that allows enterprise users to securely search for valuable content inside their systems and applications. The team behind the service has moved from Poland to Singapore.
It is an online platform in the Philippines that allows friends to pool their savings and get discounts. A user can view, track, and manage the pooled savings with friends. The company helps in enjoying discounts from the partner merchants after saving enough.
Pricify allows online shopaholics to monitor prices of products on various stores. When the price drops, it sends alerts to customers only for the products which they care about. The Indian startup also allows the user to discover products that are liked by friends and other people similar to the user.
The startup is a motorcycle delivery logistics marketplace in Bangkok. It promises delivery of the courier in five minutes.
It is a social file sharing app for emerging economies that facilitates instant share of files with multiple friends without any size or type restrictions. The Indian startup enables users to pick photos and videos easily from their friends’ phone, instead of sharing files over and again.
Based in Hyderabad, India, RyMM Education is a technology company focussed on schools and colleges. It helps the schools and colleges to create their own private social network and go online with their preferred domain name.
The startup helps users protect ideas and content that they share easily and effectively. With Digify, the files shared are view-only and self-destructing. A user can track and unshare them even after sending.
GeckoLife lets a user create unique canvases for as many activities or projects needed. One can invite family, friends and colleagues to engage with or can choose to share updates with a smaller, more personal, group. It gives you the ability to share moments with the whole family, even children. It also gives pre-teen parents the ability to monitor canvases that their children are part of, making parental guidance on the platform easy.
QLC aims to solve quarter life crisis by empowering individuals to explore career and lifestyle change aspirations through short-term remote experiences
Telefun’s flagship platform allows TV viewers to compete against one another. Video latency resulting from different transmission mediums and distances prevents gameplay from being fair. Its patented platform synchronises viewer responses without the need for smartphones; even ordinary touchtone phones let viewers play.
It is an online marketplace for real-time data sources including those generated from M2M, IoT and Big Data applications. Based in Singapore, DatastreamX is a source for live data to build one’s applications.
A talent casting platform that aims to reinvent the audition. It helps actors, singers, dancers, hosts, models, writers, directors showcase their talent on the platform and get jobs with talent-seekers on CastingDB.
Applications are now open for the next JFDI Accelerate Program which will start in February 2015.