For all those startups who fancy running their companies in a rocket mode, here comes another opportunity. JFDI.Asia, a singapore based startup accelerator has opened application for its new batch which is due to be commenced in August.
The selected startups (from across Asia) will move to Singapore where the incubation program will take place from August 22 to November 31, under which the teams will get mentorship and other support in developing their product. On top of training, mentoring and a working space for the duration of the program, each selected company will receive $11,700 as seed money. However, the accelerator takes minority stakes in each participated company.
The accelerator has already received more than 280 applications for the 12 places available in the 100 day program. In order to apply,0 startups are required to fill up the application form.
Teams applying to JFDI.Asia are divesifird from just an idea, to companies who already have attained a significant growth and raised prior funding. However as per the company, the program favours technology businesses that can demonstrate a real connection to Asia.
Startups who graduated in its earlier 2013 batch are OurHealthMate (India), Collabspot, UserScout, AbleDuable, Klinify, Scrollback (India) and Krake; where Collabspot raised USD 79,000 from Laurent Gasser even before the startup graduated from JFDI.
The accelerator chooses best startup companies irrespective of national boundaries from across Asia. “Historically, more than 60% of JFDI.Asia startups secure investment during, or shortly after the end of the accelerator program, on average raising more than S$650,000 (USD 510,000) per company.” said Hugh Mason, Co-founder and CEO.