JFDI, Singapore opens applications for the second 2013 Accelerator Program
The Joyful Frog Digital Incubator has announced that they are accepting applications from early stage Internet businesses to its next 100 day acceleration program. Teams are selected on merit and applications from all over the world are accepted. The 100 day program concludes with a Demo Day where the participating teams get to make a pitch to the investor community. (Read more about their last Demo Day here which had Indian founder companies)
We have been informed that more than 280 teams have already pre-registered interest for the 12 places available in the next 100 day program, scheduled to start in August. In exchange for a minority equity stake (~10%), every team joining will be offered a package including S$15,000 (USD 11,700) net cash, mentoring valued at S$150,000 (USD 117,000), technical and other vendor perks worth S$300,000 (USD 234,000) and working space for the duration of the program.
Hugh Mason, Co-founder and CEO says, “Historically, more than 60% of JFDI 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. We achieve that result for two reasons: first because we recruit the very best teams, irrespective of nationality, and second because we offer an intense, collaborative experience working alongside other great teams and mentors who have personally built and sold internet businesses of their own.” (read about last year's participating teams Scrollback and OurHealthMate)
Teams applying range from raw startups with just an idea, to companies that already have significant user numbers and prior investment. The program favours technology businesses that can demonstrate a real connection to Asia. All teams accepted are required to incorporate (or re-incorporate) in Singapore.
The new admissions process will offer every team that applies basic feedback free of charge. For those who want it, a more comprehensive individual assessment will be available for a small fee. The feedback will be delivered via the “Frog Score” – an interactive infographic that shows startups how they compare to other applicants on 36 dimensions including team strength and idea.
Teams interested in applying can learn more here.