SparkLabs launches the latest accelerator module in Taipei

Accelerator network SparkLabs launches a newest module now in Taipei. Headed by handling partner Edgar Chiu (pictured above), SparkLabs Taipei will concentration on scheming Taiwanese startups to enter other countries.

Chiu was COO of Taipei-based app developer Gogolook when it was acquired by Naver, one of Korea’s largest Internet companies, in 2013. Afterwards, Chiu became a initial ubiquitous manager of Camp Mobile Taiwan, a bend of Naver’s mobile app expansion subsidiary.

“We already have a lot of accelerators in Taipei, though we consider there is still a opening for Taiwanese startups that wish to go tellurian and we wish to see some-more succeed. we consider there’s a miss of knowledge on how to enter a tellurian marketplace and we wish to repair that,” says Chiu.

SparkLabs launched a initial accelerator in Seoul 5 years ago and now has programs in Beijing and Songdo (a new “smart city” built south of Seoul and saved by a Korean government). It will also open a financial tech accelerator in Hong Kong subsequent year. SparkLabs claims that 79% of a 74 graduates have perceived followup appropriation and over $195 million in try collateral so far. Success stories from a accelerator embody cosmetics association Memebox and online math-learning height Knowre, both of that stretched into a U.S. with SparkLabs’ help.

SparkLabs Taipei aims to reason a initial Demo Day by early subsequent year. Each year it will horde dual batches of 8 to 12 companies for 3 months. Startups get appropriation of adult to $40,000 in collateral in sell for adult to 6 percent in equity, bureau space and entrance to SparkLabs’ network of 150 mentors in Silicon Valley, Korea, China and Hong Kong. Chiu says founders will be matched with 4 to 6 mentors and speedy to speak to them weekly.

The tiny distance of Taiwan (total race 24 million) means that startups targeting fast expansion customarily need to go abroad, though Taiwan still creates a good exam marketplace since of a high smartphone invasion rate and a eagerness of users to be early adopters of apps and online services. While Taiwan’s startup ecosystem is frequently compared with other Asian countries, Chiu believes a best purpose indication competence indeed be Israel.

“Korea was means to rise unicorns within a possess markets, though Taiwanese startups should be some-more like Israeli startups where they had to find to go tellurian from a outset,” he says.

Chiu cites photo-editing app PicCollage as an instance of a Taiwanese startup that found success abroad with 150 million users worldwide. PicCollage’s founders worked and complicated in a U.S. before rising a company, though founders who don’t have that kind of knowledge can learn how to adjust for general audiences, Chiu says.

For example, he records that Gogolook’s founders were innate and prepared in Taiwan, though motionless early on to launch their categorical product, tourist ID app Whoscall, abroad and find general investors once they satisfied neglected phonecalls are a near-universal problem. At Gogolook, Chiu was obliged for securing tellurian partnerships in Japan, Korea, a Middle East and Southeast Asia for Whoscall, that has been downloaded some-more than 50 million times.

“If we can find general co-founders or partners, afterwards take advantage of that, though if we can’t, we need to be some-more assertive to weigh users from tellurian markets and also do some-more product contrast to know what they unequivocally want,” he says.

Taiwan’s tech attention is famous for a hardware prowess; one of a many important hardware startups is electric scooter association Gogoro. Chiu believes Taiwan’s hardware production resources has a intensity to interpret into startups that can not usually build infrastructure for intelligent cities, though also confederate program that is frequently updated and variable to opposite markets.

Chiu will work with SparkLabs Taipei’s dual try partners Alex Wu and Tony Ling. Wu is now clamp boss of selling and communications during Newsela and formerly worked during Quora, Facebook and Obama for America. Ling was formerly handling executive during Silver Lake Partners, where he sat on a play of GoDaddy and IPC Systems. SparkLabs Taipei’s advisory house includes YouTube co-founder Steve Chen, Kabam co-founder Kevin Chou and Charles and Kai Huang, a founders of Guitar Hero’s initial publisher RedOctane.

Featured Image: SparkLabs

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Posted by on Aug 8 2017. Filed under Startups. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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