JFDI.Asia targets accelerator hattrick for 2014
By Digital News Asia January 24, 2014
- JFDI to run three accelerator programmes back to back in 2014
- Now accepting applications, early-stage digital startups urged to apply
SINGAPORE-based Joyful Frog Digital Incubator (JFDI.Asia) has announced plans to operate three runs of its accelerator programme, back to back through 2014.
“Through 2012 and 2013, the first three runs of the JFDI programme taught us a lot. We have graduated 27 teams and that’s left us feeling very confident about the process we have developed to help them secure market traction and close seed funding," said Ray Wu (pic), JFDI.Asia accelerator manager.
“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,” he added.
The three runs will kick of March 20, June 26 and Oct 2, and each batch will include 10-15 startup businesses. Ambitious early-stage digital startups from anywhere in the world are invited to apply immediately, JFDI.Asia said in a statement.
In exchange for a small equity stake, all teams accepted into the programme will be offered a package including S$25,000 (approx. US$19,500) net cash, mentoring valued at S$150,000 (approx. US$117,000), and technical and other vendor perks worth S$300,000 (approx. US$234,000).
They will also enjoy working space at JFDI.Asia’s innovation campus and the opportunity to pitch to over 100 active early-stage investors at a demo day.
JFDI.Asia claims that following a demo day, more than 60% of its alumni startups have received seed-stage funding offers averaging S$600,000 (approx. US$468,000) per team. The organisation also actively supports teams to close funding and beyond.
Meng Wong (pic), cofounder and social engineer at JFDI.Asia, said: “Some entrepreneurs want to develop businesses all on their own and we respect that. But JFDI offers an alternative: the opportunity to co-create value with our community of investors and mentors.
“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.”
Teams entering the JFDI.Asia accelerator programme have typically already talked extensively with potential customers. Some have already developed prototypes, while others have over a million users and external investments.
According to JFDI.Asia, what they share in common is deep insight into the domain in which they are operating and a real commitment to build a business in Asia, for Asia. All teams accepted are required to incorporate (or re-incorporate) in Singapore.
For more information, click here.