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.
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.
+48 from 2018
+188 from 2018
+29% from 2018
Total Capital Raised
+36% from 2018
Total Annual Revenues
+98% from 2018
Total Jobs Provided
+16% from 2018
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.
(+73 from 2018)
Average Job-Seeking Duration
Placement as Engineer
Median Annual Starting Salary
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.
We are all excited that you joined our team. You make building a GSEA Super Ecosystem Hella Awesome.
Investor Relations Manager
Chinese Communications Master
English Communications Master
Finance & Accounting Master
Alumni Community Manager
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