As growing a startup can be hard and complicated, many of them usually fumble at a young age. Consequently, Southeast Asia startups also face similar problems. To clarify, the problems range from financial to product marketing. These are programs that spur startups’ growth.
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Space F Program
The program is built by WeworkLabs teaming up with renowned Thai partners. It aims to build a sustainable ecosystem for foodtech startups in the country. It provides services through incubator track. Consequently, early-stage startups can access them easily. Meanwhile, for growing startups, they provide services through an accelerator track.
Founders of startups will have access to a non-equity model. They can maintain full ownership of their ideas and product. Therefore, they can keep ownership even after the program ends.
Besides, they can also meet potential investors through the program. Thus, the move into foodtech is important for ASEAN countries.
Gigacover is an insurtech company from Singapore. It specializes in insurance for the gig economy. It creates new insurance solutions and general insurance products backed by AXA and Etiqa. In addition, it recently got an exclusive partnership with GoJek. Thus, it now offers to earn protection for driver-partners.
Gigacover uses machine learning and analytics. As a result, it can keep its expenses and loss ratio low.
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One BioMed is a Singapore-based medical diagnostic company. It has closed a USD 5 million Series A financing round. Its first product is an automated sample preparation process. The company hopes to launch a next-generation biomed platform. It includes proprietary silicon biophotonics sensing technology. The technology is point-for-care detection.
Skala is a new Jakarta-based accelerator program. It aims to guide and fund foreign or foreign tech startups operating in Indonesia. It has now opened the application process for batch two. This time around, Skala will choose up to 15 startups. The successful applicants will receive USD 50,000 for 8% equity. Therefore, at the end of the program, startups will have the opportunity to make a pitch in front of hundreds of investors.
These programs that spur startups’ growth are expected to help Southeast Asia startup.