It's been a busy travel schedule for the Betatron team over the last couple of weeks. Several of us have been on the road, visiting a variety of startup conferences and diving into their ecosystems.
We're excited to announce that applications are now officially open for our next Cohort.
It promises to be our biggest one yet, as we'll be increasing the investment amount given to each startup up to US$150,000.
In addition to that, we'll also be changing the program length. Our previous programs have lasted for four months, however, starting with Cohort #5, we will be condensing the same program into three months.
We believe that reducing the program length while keeping the same amount of content/value, will ensure it is even more intense and adds additional accountability to provide each startup with the maximum acceleration possible.
The objective of the program will largely remain the same. However, it will have even more focus on business growth and fast-tracking our startups to raise their next funding round.
We will continue to leverage our extensive network to support each of our companies along their journey.
ICW (Cohort #2) raises US$2.5M & becomes HK Gov's first investment from their new 'Innovation & Technology Venture Fund'
Congratulations to ICW from Cohort #2 for closing their Series A funding round.
The supply chain and quality management platform raised US$2.5M with MindWorks Ventures (one of our founding partners) leading the round.
The most impressive part is that they became the first investment from the new
HK$2 billion 'Innovation and Technology Venture Fund Corporation' (ITVFC), which was established the Hong Kong Government to invest in local innovation and tech startups.
To be picked as their first investment is a magnificent achievement.
The funding will be used to enhance their technology as well as expand their presence in the United States and the Middle East.
Thanks to everyone who came to our launch event last week.
During the event, three of our startup alumni (Green is the new Black, Vfluencer, and Pakpobox) shared their recent updates, while the eight new startups we've invested in for Cohort #4 introduced themselves.
Here are the eight startups our latest batch.
Betatron wins 2nd place in 'The Asian Startup Ecosystem Awards 2019' & meet our new Entrepreneur in Residence
The Asian Startup Ecosystem Awards 2019
Betatron was recently nominated in the category for 'Outstanding Contribution to the Asian Startup Ecosystem 2019' powered by Pitchdeck.Asia.
The competition was tough, with it being made up of 50 of Asia's biggest startup accelerators, investors, and eco-system builders.
Given the competitive line-up we're delighted to win the 2nd place overall and 1st place for Greater China.
With over 16,000 votes being cast across all categories, we were able to gain a remarkable 18% of the total votes in our section.
It's a fantastic validation of our team's hard work and a reflection of our growing network in Asia-Pacific.
Thank you to everyone in our community who voted for us!
Cohort 4 Applications
Applications officially closed last month on 14th December, and since, we've still continued to receive a number of new applications after the deadline.
We're now in the process of reviewing all the applications and inviting startups to our official round 1 pitches.
Last week, we interviewed 36 startups, with the format of a 5-minute pitch followed by 10 minutes of Q&A.
This week, we have another 36 startups pitching, so as you can imagine, it's going to be a very busy January for the Betatron team.
We've had numerous startups reach out and ask if they can apply after the deadline if they started their application but didn't complete it. The answer is yes. Please login to your Betatron application account and submit your completed details ASAP.
If any of you had any issues with the application, please reach out and we'll see if we can still accept your late submission.
TripGuru continues to scale after graduating from our second cohort earlier this year.
Their platform provides a one-stop terminus to gather information, craft an itinerary, browse for deals, book a trip, and connect with other like-minded travellers.
"Betatron has been instrumental for us as founders to understand the objectives, metrics, and success factors that our business needed at an early-stage to get funded"
– Sebastian Renzacci, CEO & Co-founder of TripGuru
International Compliance Workshop (ICW) continue to scale after graduating from our second cohort earlier this year.
Since graduating they've:
"IC Workshop received tremendous support from Betatron in technology, marketing and networking which helped us overcome our weaknesses as a traditional business innovator."
"Betatron's shared insights enabled IC Workshop to optimize and scale our business just in 4 months and we successfully closed US$ 1.25M funding right after the program. The reward we gained absolutely far exceeded our expectations!"
– Gary Lam, CEO & Founder of ICW
Congratulations to Pakpobox from cohort 1 for their new office opening.
They've continued to generate significant traction since graduating from our first cohort.
Since Betatron they have:
"Pakpobox gained tremendous value going through Betatron’s four-month program and having them as an active investor. Their guidance and support assisted us in optimizing the business and positioning us to scale effectively across Asia.”
– Sheldon Li, Co-founder & Chairman of Pakpobox
We're now into the final four weeks where applications are open for cohort 4.
The first batch of completed and submitted applications have been reviewed, so you'll be hearing from us shortly if we're interested to learn more about your startup.
As a reminder...
To apply, please visit betatron.co/apply.