Letting strangers work together for 54 hours, create wild new ideas and build them into a tangible success, is a truly exciting feat!

According to e27’s Southeast Asia Startup Ecosystem Report 2018, Indonesia led the region capturing a total of US$4.07 billion in startup fundraising with their four local unicorns (Bukalapak, GO-JEK, Tokopedia, Traveloka) paving the way.

While momentum doesn’t seem to be slowing this year, Adam Haluska, Head of Marketing at Greenhouse.id, continues to champion community and ecosystem building from the ground up via his annual Startup Weekend Jakarta.

According to Haluska, “Even though we are living in the golden era of entrepreneurship it’s difficult to start a business. The event brings together like-minded participants from different backgrounds pitch ideas for new startup companies, form teams around these ideas, and collaborate to develop working prototypes, demos, or presentations.

We want to help young entrepreneurs to kickstart their ideas, build a team and find mentorship for their business journey.”

About startup weekend Jakarta 2019

Startup Weekend Jakarta is a 54-hours weekend event where groups of like-minded participants from different backgrounds can pitch ideas for new startup companies, form teams around these ideas, and collaborate to develop working prototypes, demos, or presentations.

From 5-7 April, the event will host more than 100 attendees at the Greenhouse Coworking and Office Space Multivision Tower.

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There will be a diverse roster of mentors in-attendance to deliver workshops and provide valuable feedback to participating teams. This year, the line-up includes prominent figures like Anthony Reza (Co-founder at Get Kraft), Aditya Kumar (Vice President of Corporate Development at Go-Jek), Elisah Suteja (Deputy CEO at FORE Coffee) and Diajeng Lestari (CEO at Hijup).

Inspired from the momentum and track record of previous years

Speaking on his passion and motivation for running the annual event, Haluska said, “We are excited to see how people who don’t even know each other work together for 54 hours, create new ideas and build them into something that might potentially succeed and make a difference.

During our last edition, one of the teams secured an investment two weeks post-event, which makes us super happy and proud.

The participants will walk away with new friends, potential business connections and partners, team members, mentor connections and a minimum viable product that might become an actual business. Not to mention three days of fun, food and drink in their belly.”

e27 x Startup Weekend Jakarta

At e27, we avidly support and participate in ecosystem building initiatives. These help us stay true and relevant to our mission — empowering entrepreneurs with the tools to build and grow their businesses.

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Regarding the partnership with e27, Haluska shared, “The ultimate goal is to contribute to the local ecosystem and help businesses to succeed. e27 can help us provide the necessary exposure to gather people with diverse backgrounds but similar interests and create something lasting.

If e27 could join us to support the most innovative ideas and the startup with the most social impact focus, we think the stories of these startups could turn some heads, help young entrepreneurs get attention and fundamentally contribute to the local entrepreneurial ecosystem.”

For more information about Startup Weekend Jakarta 2019, visit here.

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The Sydney Landing Pad programme aims to attract startups from around the world to explore Australia as a potential market for expansion

The Sydney Landing Pad, an initiative by the City of Sydney in partnership with Asia-focussed Australian startup hub Haymarket HQ, has announced the eight Asia Pacific startups that are set to participate in the first cohort of their programme.

The Sydney Landing Pad is a 90-day programme that aims to attract companies from around the world to explore Australia as a potential market for expansion, with the goal to draw “millions of dollars” in business investment to the city.

The programme is not limited to tech companies and does not take any equity from the participating companies.

“We’re proud to support Haymarket HQ in developing their international landing pad programme, which will provide support for entrepreneurs from Asia to understand and grow in Sydney,” Lord Mayor Clover Moore said in a press statement.

“This is a great opportunity for Sydney to welcome more entrepreneurs, introduce investors to our thriving local economy and promote international collaboration,” she added.

Also Read: This is how Australia is changing to become startup friendly

Haymarket HQ will provide the companies with support services, office space, and networking opportunities.

The companies have a combined value north of AU$130 million (US$92 million).

Of all the eight companies, three of them are coming from Southeast Asia:

Omnylitics (Malaysia)
A fashion and beauty data analytics company that helps retailers make informed business decisions, such as pricing and trend forecasting.

Clean Mobility (Singapore)
A developer of urban mobility solutions such as on-demand car-sharing services.

Cloth (Indonesia)
An ethical fashion brand with a focus on minimal and effortless aesthetics.

Other Asia Pacific companies in the list are:

Fox-Tech (Taiwan)
An IoT solution maker for agriculture, farming, cold chain, and manufacturing that allows business owners to monitor humidity and temperature wirelessly.

Ambit-Ai (New Zealand)
A conversation platform enabling enterprises to communicate with customers and staff en masse.

Eazitrip (Australia/China)
A travel app helping tourists to discover and explore local authentic experiences through the power of Augmented Reality.

Also Read: Australia-grown micro investment app Raiz Invest enters Indonesia

Insto (Taiwan)
The world’s first person-to-person payment platform that allows buyers and sellers to schedule payments over time.

AiSensum (India)
An artificial intelligence and big data analytics company that generates insights and solutions for enterprises and startups.

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Image Credit: Holger Link on Unsplash

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Also, Singapore-based blockchain startup Morpheus Labs launches blockchain academy with startup incubator Dreamplus, and Uber opens second APAC office in Singapore

Blockchain startup Morpheus Labs and Dreamplus join forces to launch a blockchain academy [Press Release]

Singapore-based Blockchain startup Morpheus Labs announced the signing of Memorandum of Understanding (MoU) with Dreamplus, a global startup incubator supported by a South Korean business conglomerate. The MoU will have the two partners promoting blockchain education and the growth of its ecosystem.

The blockchain academy would be a seven-week intensive program that includes a mix of theoretical and practical components focused on the theory behind blockchain and practical coding of a sample decentralized applications (DApps) conducted with Morpheus Labs Blockchain Platform-as-a-Service (BPaaS).

The program is aimed at those who are interested in learning the basics of blockchain technology to budding technology engineers or programmers.

“Companies and governments are just beginning to understand the disruptive capability of blockchain technology. The already high demand for blockchain developers today is only expected to rise for the foreseeable future. Our platform is purposefully designed to create a friendly ecosystem convenient for students to learn the complex environment of blockchain in its current infancy, giving them a head start to blockchain development and propelling them into the talent-hungry blockchain development world,” said Dorel D. Burcea, Chief Information Officer of Morpheus Labs.

Uber launches new office in Singapore for further APAC expansion [TODAYOnline]

Uber announced yesterday that it will reenter Asia by renewing its commitment to business in Asia Pacific region in a new set up office at Frasers Towers in Singapore. The office would be APAC regional hub of the unicorn company, and currently has 165 employees who provide remote operational services to the region in sales, marketing, legal services, and other corporate functions.

Since 2015, Uber has resided in Singapore and has been its APAC headquarter. It was located at Guoco Towers in Tanjong Pagar before the merger with Grab, effectively putting Grab in charge of that location last year.

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Uber then moved to Mapletree Anson before relocating to its new 2,000 sqm office at Frasers Towers on Cecil Street. Uber operates in nine markets in the Asia Pacific: Australia, Bangladesh, Hong Kong, India, Japan, New Zealand, Sri Lanka, South Korea, and Taiwan.

The firm’s representative said that its next move would be growing its team in Singapore and hiring hire specialist and entry-level roles.

Dave McClure reemerges in tech scene after 500 Startups’ #MeToo debacle [Bloomberg]

Two years ago, Dave McClure was reported for alleged sexual misconduct in the VC that he co-founded alongside Christine Tsai, 500 Startups. McClure then decided to step down after helping funding 1,800 early-stage companies in 60 countries as the chief executive officer of the company.

Now, McClure is back in the game by raising a new fund to invest in other venture firms worldwide that would be called Practical Venture Capital, according to two people familiar with the plans.

The new fund is said to be designed to purchase stakes in smaller funds, sometimes called micro-venture capital firms and also buy stakes from those funds’ investors when they’re seeking liquidity. The initial target for the fund would be US$100 million, although the final amount could be larger, according to the sources.

On the other hand, even before McClure’s departure, 500 Startups reportedly had struggled to raise its fourth fund in 2015. Recently, the firm even laid off what Christine Tsai said to be a “handful” of people.

Today, 500 Startups is raising fresh investment for its fifth global fund, expected to be the firm’s largest ever, according to a person familiar with the plans. Abu Dhabi Financial Group is confirmed to be the anchor investor, took a minority stake in 500 Startups and joined the board last year.

Welcoming Google India MD on board, Sequoia India will launch a US$200M startup accelerator [Deal Street Asia]

Sequoia India announced that it brings Google India MD Rajan Anandan on board for its upcoming startup accelerator program called Surge. Surge, that was launched in January, is said to be focussed on India and Southeast Asia-based startups with a potential US$150-200 million raised for the initiative.

“Sequoia has approached limited partners to pitch for a fund independently and onboarding someone like Anandan will make it easier to get in the capital. He is a very well-respected name in the technology and startup ecosystem,” said a source, reported by Deal Street Asia.

Anandan has made a record for himself as an angel investor, having backed more than 60 startups.

Surge will focus on sectors such as consumer internet, technology, enterprise software, healthcare, fintech, among others. Sequoia is expected to invest over US$100 million over the next four-five years under Surge, financing its separate team.

Surge will have five modules, which will be hosted across the globe in China, India, Silicon Valley, and in Singapore. It plans to recruit 10 to 20 early-stage startups in two cohorts in a year and invest Us$1.5 million in each of them at an early stage of the program.

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At the end of Surge, founders will have the opportunity to raise capital during an ‘UpSurge’ week from a curated list of angels, seed funds, and VC’s. So far, confirmed mentors are edtech unicorn BYJU’S founder Byju Raveendran, Carousell’s Siu Rui Quek, credit card bills payment app Cred’s Kunal Shah, SaaS unicorn Freshworks’ Girish Mathrubootham, GOJEK’s Nadiem Makarim, Google’s Rajan Ananadan, hospitality unicorn OYO’s Ritesh Agarwal, Uber’s Amit Jain, chat messaging service WhatsApp’s Neeraj Arora, food delivery Zomato’s Deepinder Goyal, and more.
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Assembling your own team of Avengers isn’t an easy feat

Unlike other small businesses, startups are unique as they rely solely on the hard work and dedication of a small team working across multiple areas, with the goal of launching something completely new to the market.

Many startup entrepreneurs learn as they go and must wear many different hats, especially in the initial stages — from development right down to marketing to ensure their business runs smoothly.

This can be a challenge even for the most seasoned entrepreneur, and there will come a point where you’ll need a team to help you. Taken from the expert entrepreneurs, here’s how to build a successful team that will support your startup from day one:

Identify your needs

Before you go on a hiring spree, it’s important to determine what your existing business needs are. Perhaps you need another developer or a marketing strategist to help you secure investors. Depending on what stage you are in, you’ll have very different requirements, budgets and expectations.

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Hiring too many people too early could turn into a disaster, so it’s worth thinking carefully about what your business needs right now. Perhaps you could get away with hiring contractors or freelancers on an ad hoc basis before you determine full-time positions. This way, you can also gauge what types of people or personalities best work together.

Clearly define roles and responsibilities

According to Glenn Llopis, “a team should operate as a mosaic whose unique strengths and differences convert into a powerful united force.” When everyone understands their role in the team and can work within the framework of the business, the business is much more likely to move unanimously towards the same goal.

Of course, roles can be flexible and ever-changing but the core responsibilities should be clear to avoid exceeding personal boundaries and burning out your employees.

Find people who can fill your knowledge gaps

Nicole Kersch the founder of 4Cabling says it’s a good idea to hire people who know more than you in certain areas and can use their skills to your advantage. “You definitely want to be challenged and be surrounded by people who can push back on ideas. Credentials are important, but balance and strength of character are more important.”

Obviously, rudeness and aggression should never be tolerated, but heated discussions can benefit your startup more than you might think. Set your ego aside and listen to what others have to say—you might be surprised at the direction your startup moves into when you hire passionate, knowledgeable people.

Hire people with the same values

Skills can be taught, but the right attitude and work ethic is what truly resonates in the startup world. Determine what your values are as a business, like innovation, honesty, ambition etc.

Also Read: Meet the Southeast Asian startups participating at the Sydney Landing Pad programme

All these things are far more important than having someone who just has an impressive technical background because if your vision aligns with theirs they’re more likely to stick around in the long term.

It’s like recruiting for a pro sports team

Alec Lynch CEO of DesignCrowd says “I subscribe to Netflix’s theory that building a great team in business is like building a champion or pro sports team. You need to hire a star in every position, you need to coach them well and if someone’s letting the team down then you need to cut them.”

This might seem like a harsh call, but when it comes down to it the most successful businesses have to prioritise value and productivity above all, or else they risk falling behind.

Even if you have the next big idea in your hands, if you don’t start with a strong team it could prevent your startup from growing to its full potential.

Remember, you’re in charge, so take the time to build a dedicated all-star team of passionate individuals who are just as committed to your success as you are.

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The Japan-headquartered company’s now among the two tech unicorns with operation in Japan

Global cryptocurrency platform Liquid.com today announced its first close of an ongoing Series C funding that puts the company valuation at over US$1 billion.

This round is led by IDG Capital, with participation from the cryptocurrency mining rigs maker Bitmain Technologies. The investment is the latest foray into regulated digital asset trading by Bitmain Technologies after investing in ErisX.

The company said that it will use the funding for global expansion, product development of the core trading exchange business, and expansion into the security token market.

“Consumers are increasingly placing a higher value on digital assets and technologies they can trust and use with greater ease. Our vision is to make financial services accessible to all, which means bringing more people into the digital asset space so that anyone can be a part of it,” said Liquid CEO Mike Kayamori.

Liquid was founded in 2014. In 2017, Liquid raised more than US$100 million in a pre-discounted ICO raise, which was the first regulated ICO to be done in Japan.

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General Partner of IDG Capital Young Guo noted that the firm realised that Tokyo has emerged as a top destination for crypto innovation with proper regulations which factored into the investment.

IDG’s current portfolio of crypto investments include Coinbase, Ripple, Bitmain, and Kakao’s crypto unit.
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