2019
YEAR IN
REVIEW
Greater Southeast Asia’s Leading Startup Launchpad
AppWorks Accelerator
AW#19
AW#18
This was a year for AppWorks founders to defy convention. Just like every year. In 2019, we introduced a total of 48 startups in AI / IoT and Blockchain.
This year, these startups have passed through the fire of the Accelerator and begun the process of becoming better founders, with 29 launching AI / IoT products and 19 paying no mind to haters by building Blockchain startups with growing traction.
In our tradition of reshaping tradition, over 60% of the accelerator founders hail from territories in GSEA, including: Hong Kong, Singapore, Vietnam, Malaysia and Indonesia.
There Isn’t A Community in Greater Southeast Asia
That’s Greater
The AppWorks Ecosystem
This exceptional group of founders produces US$4.97 billion in revenue each year -- this is equal to the GDP of the island nation of Barbados.
376
Active Startups
+48 from 2018
1,113
Total Founders
+188 from 2018
Valuation
US$4.72B
Total Valuation
+29% from 2018
Raised
US$1.11B
Total Capital Raised
+36% from 2018
Revenues
US$4.97B
Total Annual Revenues
+98% from 2018
Jobs
11,162
Total Jobs Provided
+16% from 2018
We Don’t Stop Growing after Graduating from AppWorks Accelerator
Significant Milestones by AppWorks Startups
AW#7
-
The Largest Language EduTech Platform in Taiwan
-
Raised US$3.5M Series A to Expand in Japan and Vietnam
AW#9
-
The Leading AI Video Security Solutions Provider, Sold to more than 30 Countries
-
Raised US$8M Post-A Round to Continue Global Expansion
AW#12
-
The Leading Stock Investment Mobile Platform in Taiwan, Surpassed NT$500M in GTV within 6 Months
-
Raised NT$29M Angel Round
AW#12
-
The Largest e-Scooter Sharing Service in Taiwan
-
Expanded to KaoHsiung and Completed more than 5M Trips per Year
AW#15
-
Asia's Leading B2B Live Social Commerce SaaS Product
-
Acquired by M17 and Rebranded to HandsUP
AW#16
-
The Leading AI-Driven Data Solutions Provider in Taiwan
-
Raised US$5M Series A Aiming to Bring Widespread AutoML Tech into Enterprises
AW#16
-
GSEA’s Leading Online Marketplace for Limited-Edition Sneakers and Streetwear
-
Raised over US$2M Seed Round
AW#16
-
Launched the World's First AI-driven Baby Camera
-
Raised US$4M Series A Aiming to Become #1 Worldwide
AW#17
-
The Leading Hardware-as-a-Service Venture Builder in Taiwan
-
Raised US$2M Seed Round Aiming to Create a Better Connected Physical World
AW#14
-
The Leading Platform for Hairstylist Appointment Services in Taiwan
-
Raised Nearly NT$20M Pre-A Round
We Are Now One of GSEA’s Largest Early-Stage VCs
AppWorks Funds
With the addition of AppWorks Fund III, total capital under management by AppWorks has grown to over US$170 million.
We appreciate the help and trust of Fund III limited partners like: Taiwan Mobile, Fubon Life Insurance, Cathay Life Insurance, Wistron Corporation, Hungtai Group, Capital Securities as well as Taiwan’s National Development Fund.
It’s all about ABS (AI, Blockchain and SEA). In 2019, AppWorks Funds made 11 investments in promising startups, including Dapper Labs, a world-class blockchain company creating new methods for enjoying entertainment; Deep Sentinel, an AI-driven home security camera network; HarukaEDU, an online learning platform, and Infra Digital, a revolutionary payments application, both based in Indonesia.
We also see continuous growth in existing portfolio, including Lalamove, which now operates in more than 260 cities and became one of the unicorns of GSEA, and KKday, keeping its strong business momentum with three-digit revenue annual growth and 6.4 million MAU.
Forging Tomorrow’s Hidden Talent Today
AppWorks School Trains New Engineers to Fuel A Growing Startup Island
Since mid-2016, AppWorks School has graduated 179 newly trained software engineers (+73 from 2018) through our 16-week free coding program. Of these, 91.6% of the graduates went on to pursue successful software engineering careers in prominent internet companies such as momo Shop, 91APP, KKBOX, LINE TV, WeMo Scooter, LineTaxi, PicCollage, hahow, VoiceTube, OmniChat and Gogoro with a median starting annual salary of NT$698,000.
179
Graduates
(+73 from 2018)
26 days
Average Job-Seeking Duration
91.6%
Placement as Engineer
NT$698,000
(US$23,266)
Median Annual Starting Salary
Thank You for an
Amazing Year!
Tapping into the superpowers of each and every one of our team members, we continue to shape a smart and decentralized future growing AI & Blockchain startups in Greater Southeast Asia.
We’d like to extend a special thanks to all of our partners and friends in the startup community. Together we will strengthen the regional ecosystem even further in 2020.
Farewell to Annie Su:
Thank you for the contribution to AppWorks, enjoy your next startup journey.
Welcome Jack An, Norman Chi, Shirney Huang, Doug Crets and Anne Chen:
We are all excited that you joined our team. You make building a GSEA Super Ecosystem Hella Awesome.
PARTNERS
ASSOCIATES
ANALYSTS
SPECIALISTS
Investor Relations Manager
Anne Chen
Chinese Communications Master
English Communications Master
Recruiting Master
Finance & Accounting Master
Jasmine Tsai
Alumni Community Manager
Joy Chiang
Legal Master
Liying Wang
Design Master
Tim Tu
Space Director
APPWORKS SCHOOL
Head of AppWorks School
School Operations Manager
Android Instructor
Wayne Chen
iOS Instructor
Luke Wu
Web Instructor
CW Peng
Backend Instructor
Arthur Lin
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