Accelerating Asia Announces Eight Third Batch Participants, Ada KaryaKarsa and MyBrand

Early-stage venture capital and startup accelerator Accelerating Asia announced eight startups into the batch third. There are two startups from Indonesia, namely: KaryaKarsa and MyBrand.

Co-Founder of Accelerating Asia Craig Dixon said, on cohort Currently, his party has evaluated and received 450 registrations from 25 countries. Then, it is screened with an acceptance rate of less than 2% for startups that make it into the program.

"Cohort this time are the most talented and skilled in terms of business traction and their potential as a catalyst for positive change in the rapidly changing post-pandemic landscape," said Dixon in an official statement, Tuesday (8/9).

The startup names are Energy Lite (Singapore), AskDr (Singapore), KaryaKarsa (Indonesia), Kinexcs (Singapore), MyBrand (Indonesia), ProjectPro (US), Shuttle (Bangladesh), and WeavAir (Canada).

Their track record is quite extensive in Southeast Asia and South Asia. They have collectively raised more than 2,6 million Singapore dollars (equivalent to 28 billion Rupiah) before joining Accelerating Asia with a total workforce of 120 people. They solve various problems that exist in various industrial sectors, both B2B, B2C, and B2G; covering energy, transportation, health, and cleantech.

“We have expanded our geographic footprint into India and re-strengthened our presence in Indonesia through our recruitment efforts to cohort this. The talents of our startups are well placed to benefit investors. We believe they can be part of the solution to the bigger problems in the post-Covid-19 world.”

Dixon explained, all of these companies received an initial investment of 50 thousand Singapore dollars from Accelerating Asia. Those who perform well will receive an additional up to 150 thousand Singapore dollars after completing the program which will end in November marked by the holding of a Virtual Demo Day.

In total, since the first month of joining, all startups batch it has received over 1,2 million Singapore dollars in initial commitment from existing LP investors and partners. They are offered early access for LP partners, as well as exclusive rights to invest in Accelerating Asia's startups.

The company itself is nearing the final closing of funding for fund latest and continues to sign partnerships with LP partners for early and exclusive access to startups in its portfolio. Also, providing quality deal flow, prorated rights, and first option for investment.

Further explained, in this accelerator all activities are carried out virtually for 100 days. The focus that will be emphasized is startup growth, business readiness, and capital raising. Co-Founder of Accelerating Asia Amra Naidoo added, his party always runs sessions entrepreneur-in-residence, virtual coffee chat with investors, and digital master class remotely.

“[..] Being a venture capital accelerator allows us to present a hands-on approach (hands-on approach) during the initial investment period as we present the programs and access that startups need to improve and develop, while minimizing investor risk and focusing on delivering returns to our investors in venture capital funds us,” explained Naidoo.

Accelerating Asia's Gait

Since its launch in 2018, Accelerating Asia has now become a community that hosts 48 entrepreneurs and 28 startups spread across Asia with 40% of them being companies led or founded by women. The company cooperates with a number of networks angel investors regional partners such as Angel Hub, ANGIN, and Angel Central, as well as with leading institutional investors, including Cocoon Capital, Monks Hill Ventures, and Golden Gate Ventures.

A total of 19 startups from two cohort previously spread across eight countries in Southeast and South Asia including Singapore, Indonesia, Vietnam, Bangladesh and Malaysia. About 10% of them come from Indonesia. They are SaaS B2B startup Datanest and travel startup IZY.ai. Collectively these companies have raised a total of more than S$5 million.