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AppWorks Accelerator #29 Demo Day: Showcasing Cross-Border Innovation and Startup Ecosystems
On December 10, 2024, AppWorks Accelerator held its 29th Demo Day in Taipei, presenting 34 innovative startups from across Southeast Asia and Taiwan. This event also showcased startups from Wistron Accelerator Batch #7 and TINC Batch #9, emphasizing the growing collaboration between Taiwan and Southeast Asia.
Founded in 2009, AppWorks has become a crucial resource for entrepreneurs in Southeast Asia and Taiwan. By offering a combination of its Accelerator program, venture funds, and educational initiatives, AppWorks supports startups in transforming their ideas into scalable businesses. Its continued partnerships with organizations like Telkomsel and Wistron foster cross-border innovation, helping startups navigate the rapidly changing tech landscape while scaling internationally.
The AW#29 cohort included 34 teams from countries such as Indonesia, the Philippines, Vietnam, Singapore, Taiwan, and Japan. The startups presented diverse solutions across multiple industries, with 46% of them focusing on AI and IoT, while 25% explored web3 technologies. Notably, 22% of the startups had already surpassed US$1 million in annual revenue.
In total, 49 startups from 12 countries participated in the program. A standout feature of AW#29 was the high proportion of serial entrepreneurs, with 40% of participants being experienced founders. This reflects AppWorks' commitment to fostering successful entrepreneurs. The AppWorks ecosystem now includes 607 active startups, 1,846 founders, and has generated US$16 billion in revenue, securing US$6.4 billion in funding.
Web3 Innovations Take Center Stage
Several startups from AW#29 showcased solutions in the rapidly expanding field of web3. Notable companies like QuantAlpha AI and Equitize, both from Singapore, are leveraging AI and blockchain to drive institutional adoption of digital currencies. QuantAlpha AI provides an AI-powered crypto trading platform, while Equitize is developing a tokenization platform to help smaller financial institutions access liquidity through digital assets. These innovations underscore the growing importance of digital currencies and blockchain technology in the global financial system.
“As we enter the new calendar year, investors continue to pour into web3, driven by major shifts in attitudes and allocation strategies—namely greater institutional adoption of web3 investment tools outside of ETFs and the tokenization of real assets as an emerging strategy for traditional financial giants,” said Jamie Lin, Chairman & Partner at AppWorks. “Blockchain and cryptocurrency are clearly moving toward mainstream adoption, much like the internet and e-commerce did in their early days.”
AI and IoT were key themes at AW#29, with several startups presenting solutions that are transforming industries across Southeast Asia. For instance, Ecofirst, from Taiwan, uses AI to develop energy-efficient water-cooling systems, reducing energy consumption in industries such as semiconductors. Similarly, uHoo from Singapore developed an advanced air conditioning system integrated with an environmental data platform, improving air quality and boosting health outcomes in buildings. These innovations are reshaping industries by promoting sustainability and increasing operational efficiency, especially in manufacturing and construction.
AppWorks startups are also making significant strides in the education sector. Aone, a Malaysian startup, offers a SaaS platform that streamlines school management operations, enhancing efficiency across educational institutions. Meanwhile, SpeakBUDDY from Japan has gained over 4 million users with its AI-powered language learning app, using interactive AI to help students improve their English skills in an engaging way. These startups highlight the transformative potential of AI in making education more efficient, accessible, and personalized.
Empowering Southeast Asia and Taiwan Startups
The collaboration with TINC and Wistron added another layer of innovation to AW#29. TINC Batch #9, in partnership with Telkomsel, highlighted startups like Primaku, an Indonesian startup developing a digital platform for managing children's health and vaccination records, and Finfra, which is creating a digital financial services platform to enhance financial inclusion in Southeast Asia.
The Wistron Accelerator Batch #7 featured AI-driven startups such as IPIN LABS from South Korea, specializing in indoor positioning technology, and RemoteNC from Taiwan, which is automating product design processes using AI. These cross-border collaborations emphasize the power of innovation in fostering growth within both Southeast Asia and Taiwan’s startup ecosystems.
The AppWorks Accelerator #29 Demo Day highlighted the incredible progress of startups in AI, web3, IoT, and education technology, showcasing the strength of the collaboration between Taiwan and Southeast Asia. With the continued support from AppWorks, TINC, and Wistron, these startups are well-positioned to lead the digital transformation of the region and shape the future of technology, finance, and industry.
As these entrepreneurs scale their businesses, they are contributing to the ongoing growth of Southeast Asia and Taiwan’s startup ecosystems, solidifying both regions as key players in the global innovation landscape.
AW#29 Demo Day featured the following companies:
Web3:
- (MY) Carlo Las Marias, QuantAlpha AI: AI-powered crypto trading strategy platform
- (TH) Amadeo Brands, YieldNest: Liquid restaking with simple, risk-adjusted strategies
- (ID) Daniel Suwahjo, Xellar: Developer tools for onboarding web3 users
- (SG) Darien Poh, Equitize: Liquidity aggregator for tokenized securities
- (EU) Nicolas Deppenweiler, Tessera: Web3 ticketing with optimized resale insights & conversions for event organizers
- (TW) Ting-hsu Wan, Blave: Providing cross-exchange crypto-trading alpha by aggregating data from top-rated traders
- (PH) Jiro Reyes, Bitskwela: Assisting Web3 projects with user education and market promotion in Asia
- (SG) Ben Kang, Moby: On-chain crypto options exchange with 24/7 liquidity and top-tier pricing
- (VN) Frank Dang, Harmonix Finance: On-chain hedge fund platform
Healthtech:
- (VN) Nhat Luong, DiaB: Phygital Integrated prevention & management platform for combating chronic diseases;
- (ID) Ryan Wei, SIP Group: Functional nutritious snacks for grassroots Indonesian kids
ESG:
- (TW) Simon Chueh, Ecofirst Technology: Save your air conditioner for 35% by AI-driven control system;
- (SG) Dustin Onghanseng, uHoo: Property data platform for greener and healthier offices and buildings
Edutech:
- (JP) Tsuyoshi Tateishi, SpeakBUDDY: The best-selling AI app for learning English in Japan;
- (MY) Darren Gouk, AOne: B2B SaaS and payment system for educational businesses;
- (JP) Tatsuto Nohara, fondi: Metaverse for virtual study-abroad experiences
B2B SaaS Tools:
- (VN) Han The Truong, Peacom: Automating commerce on every messaging platform;
- (US) Yan Grinshtein, Nsight: Unified data intelligence & decision automation for product and design teams;
- (MY) TK Chuah, Boostorder: Multi-sales channel order & pay automation for brands & distributors;
- (VN) Pawel Gorski, Tribee: AI platform helping frontline teams to sell more with data-driven insights
Entertainment, Hospitality, and Travel:
- (SG) Larry Lee, Sotravel: Where adventure meets community;
- (ID) Sammy Ramadhan, Goers: Platform for ticketing and discovering live entertainment;
- (TW) David Weng, Vocus: Platform connecting creators with their fans;
- (TW) Tina Lee, FansNetwork: Engaging fans with AI clones of KOLs
Industrial:
- (SG) Joel Lee, KinetixPro: AI-industry 4.0 platform for workplace safety;
- (TW) Wen-Yu Chie, POD Innovation: Data-driven driver-assistance and intelligent fleet management for safer railroads
Consumer:
- (TW) Ken Ho, Tracle: Trash pickup service;
- (TW) Bill Hsu, Simmpo: World’s No.1 anti-blue light screen protection technology;
- (TW) CJ Su, Raingo: Taiwan's leading AIoT shared umbrella provider for smarter urban living
Wistron Accelerator Batch #7 Founders and Their Associated Companies Featured Included:
- (KR) Seonhyeok Kang, IPIN LABS: Low-cost 2D Digital Twin with AI Indoor Positioning;
- (TW) Alex Mei, RemoteNC: AI for Engineering Drawing Analysis;
- (TW) Alex Chang, AEplus Smart Factory: Digital transformation services for traditional manufacturing industry
TINC Batch #9 Founders and Their Associated Companies Featured Included:
- (ID) Markus, Finfra: Building the financial infrastructure of Southeast Asia by enabling seamless integration of financial services for companies;
- (ID) Didit, Primaku: Simplifying record-keeping and milestone tracking for new parents with a dedicated newborn baby health platform
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