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#1

  • The Leading MarTech Startup in Taiwan

  • Raised US$1.8M Series A to Drive GSEA growth

AW#3

  • Acquired by WonderPet Group, the Largest Pet Chain Group in Taiwan

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#11

  • Acquired by LINE Taiwan, Rebranded as LINE TAXI

AW#12

  • The Largest e-Scooter Sharing Service in Taiwan

  • Expanded to KaoHsiung and Completed more than 5M Trips per Year

AW#13

  • The Largest Cashback Site in GSEA

  • Raised US$45M to Drive GSEA Growth

AW#15

  • Asia's Leading B2B Live Social Commerce SaaS Product

  • Acquired by M17 and Rebranded to HandsUP

AW#15

  • The Airbnb for Workspaces in HK

  • Raised US$1.68M Seed Round, 1,600 Listings for Spaces

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

  • The Leading Designated Driver Service in Taiwan

  • Raised US$1.3M Series A

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

Antony Lee

English Communications Master

Douglas Crets

Recruiting Master

Izza Lin

Finance & Accounting Master
Jasmine Tsai
Alumni Community Manager

Joy Chiang
Legal Master

Liying Wang
Design Master

Tim Tu
Space Director

Vanessa Lu

APPWORKS SCHOOL

Head of AppWorks School

Enid Tian

School Operations Manager

Shirney Huang

Android Instructor

Wayne Chen

iOS Instructor

Luke Wu

Web Instructor

CW Peng

Backend Instructor

Arthur Lin

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Visit previous AppWorks Year in Reviews: 2017, 2018