Echelon

It will take more than a global health crisis to make Singapore startups hang up the gloves. Within the third quarter of last year, startups raised up to $11.2 billion, more than twice the amount generated in 2020 — proof that the island remains an attractive hub in Southeast Asia for young entrepreneurs despite the beatings the world took from COVID-19.

The challenges of fundraising

Raising funds is not a drill, especially when investors are tightening their purses and requiring more convincing these days. A position paper by ACE shows that 69% of surveyed startups perceive fundraising as a “difficult task” that could take 1-2 years. They attributed the challenges to high expectations and grant hurdles.

Also read: Echelon 2022 to discuss the state of the SEA startup ecosystem

The failure rate for startups is high, particularly during the seed stage, as investors want a higher return of at least ten times. There’s also the issue with some early-stage founders who lack clarity about the real-world problems their solutions aim to address, preventing them from attracting investors. Another challenge is adjusting to the new normal as pandemic restrictions eased without returning to the way it was before.

Although, behind the uncertainties lie opportunities to innovate and keep the startup ecosystem evolving. High confidence is placed in local startups who have displayed agility in redesigning business models to ease the crisis’ impact, while mentors are ready to guide new entrepreneurs.

We turn to experts

Notable founder Aaron Tan, Founder and CEO of Carro, is among the leaders willing to show the way for startups. Carro has raised over $1 billion to date from various sources, including angels, VCs, venture debt, and credit lines. How has Aaron done it and what can we learn from his experience?

In a fireside chat at the Echelon Asia Summit 2022, Aaron, together with Willis Wee, CEO and Founder of Tech In Asia, will discuss a founder’s approach to fundraising over $1B and raising capital at different stages and environments. They will explore key questions that can help founders navigate the post-pandemic fundraising scene.

How much of fundraising is an art vs science?
What were the most challenging fundraising experiences and how did they overcome them?
How is the strategy/story different from earlier stages to later stages?
What are the do’s and don’ts that founders need to keep in mind?
Post fundraising, how can founders maintain a positive relationship with investors?

Also read: Meet the 6 companies you can connect with at Echelon 2022

Join them in exploring the various aspects of fundraising during tough times, effective ways to start and maintain relations with investors today, the do’s and don’t’s in fundraising, and the points to highlight when speaking to a potential investor.

Echelon Asia Summit 2022 (October 27-28) returns after a three-year hiatus. It aims to gather the most influential decision-makers and industry leaders from the Southeast Asia tech and startup ecosystem.

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