JFDI.Asia opens up accelerator programme
By Digital News Asia June 26, 2013
- Teams from anywhere in the world to be offered places on next available programme, based purely on merit
- Introduces ‘Frog Score’ that will show startups how they compare to other applicants on 36 dimensions
THE Joyful Frog Digital Incubator (JFDI.Asia) has announced that it will accept rolling applications from early stage Internet businesses to its regular acceleration programmes.
Purely on the basis of merit, strong teams from anywhere in the world will be offered a place on the next available programme, JFDI.Asia said in a statement.
Teams already in Singapore will be offered immediate access to seminars and workshops that will help them make the most of the opportunity.
More than 280 teams have already pre-registered interest for the 12 places available in the next 100-day programme, scheduled to start in August.
In exchange for a minority equity stake, every team joining will be offered a package including US$11,700 net cash, mentoring valued at US$117,000, technical and other vendor perks worth US$234,000, and working space for the duration of the programme.
“Historically, more than 60% of JFDI.Asia startups secure investment during, or shortly after the end of the accelerator programme, on average raising more than US$510,000 per company,” said JFDI.Asia cofounder and chief executive officer Hugh Mason (pic above, right).
“We achieve that result for two reasons: First, because we recruit the very best teams, irrespective of nationality; and second, because we offer an intense, collaborative experience working alongside other great teams and mentors who have personally built and sold Internet businesses of their own,” he claimed.
Teams applying to JFDI.Asia range from raw startups with just an idea, to companies that already have significant user numbers and prior investment, the accelerator said.
The programme favours technology businesses that can demonstrate a real connection to Asia. All teams accepted are required to incorporate (or re-incorporate) in Singapore, it added.
The new admissions process will offer every team that applies basic feedback free of charge. For those who want it, a more comprehensive individual assessment will be available for a small fee.
The feedback will be delivered via the ‘Frog Score’ – an interactive infographic that shows startups how they compare to other applicants on 36 dimensions including team strength and idea.
“We serve startups,” said JFDI.Asia cofounder and social engineer Wong Meng Weng (pic above, left). “They are the players; we’re just the coach.”
“In that spirit, we aim to make the process of application as transparent as possible, because even those teams that don’t get accepted into the next upcoming boot camp deserve attention, guidance, and support,” he added.
Teams interested in applying to JFDI.Asia can learn more at http://jfdi.asia/accelerator/
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