JFDI.Asia

Joyful Frog Digital Incubator
Private Limited
Founded Singapore (2010, as JFDI.Asia Pte Ltd.)
Headquarters Singapore
Key people
 Hugh Mason
(Co-founder and CEO)
Meng Weng Wong
(Co-founder and Chairman)
Website http://JFDI.Asia

JFDI.Asia is a Singapore-based seed accelerator founded by Hugh Mason and Meng Wong in 2010.[1] Like other accelerators, JFDI.Asia offers startups a mix of seed funding, mentorship, and the opportunity to pitch to more investors on “Demo Day.” JFDI has run four batches and now has 50 startups in its portfolio, with founders from 12 countries, primarily India and Southeast Asia. 60% of its graduates go on to raise seed funding.

JFDI.Asia fosters a community of entrepreneurs, mentors and investors in the region.

History

JFDI.Asia is part of the seed accelerator movement inspired by Y Combinator, but also part of a larger innovation entrepreneurship movement which seeks to transmit the culture of Silicon Valley to Southeast Asia by supporting startups.[2]

In 2010, JFDI brought mentors to Southeast Asia to work with Internet entrepreneurs.

In 2011, JFDI conducted startup weekends at six different cities in Asia.[3] JFDI also became a founding member of the Global Accelerator Network, GAN, set up by Techstars.[4]

In 2012, JFDI raised money from angel investors and launched its first bootcamp with 12 teams.

In 2013 and 2014, JFDI ran two bootcamps each.[5]

In March 2014, JFDI.Asia raised S$2.7 million (USD $2.1 million) in funding.[6] The main investors were the investment arm of the Infocomm Development Authority of Singapore (IDA), Silicon-Valley-based FENOX Venture Capital, and Russian firm SpinUp Partners.

Mascot

JFDI is an abbreviation for Joyful Frog Digital Incubator. The frog refers to Asian proverbs regarding wells and oceans. The JFDI mascot is named Smoochy, after the Beanie Baby.[7]

Program Portfolio

JFDI Accelerate Program

The JFDI Accelerate Program is a 100 day program for startup teams. JFDI offers S$25,000 cash investment at the start of the program and over S$100,000 through other services.[8] In turn, JFDI takes a stake of equity of each business. The Demo Day at the end of the program features the teams pitching their business to over 100 investors. Over 60% of the startups that have gone through the program have manage to secure funding. The average amount raised per team is $500,000.

JFDI Discover Program

JFDI Discover is a recently launched 21-day pre-accelerator training program for entrepreneurs, aspiring entrepreneurs or just enthusiasts.[9] Participants are taught Lean Startup methodology and customer development practices.[10]

References

  1. ↑ Wee, W. (2011, September 27). JFDI: We’re Going To Create Success In 3 Ways. Retrieved July 2014, from Tech In Asia Web site: http://www.techinasia.com/jfdi/
  2. ↑ Wee, W. (2013, April 30). JFDI: The Frog’s Story, Secret Sauce, and Challenges. Retrieved July 2014, from Tech In Asia Web site: http://www.techinasia.com/jfdi-story-secret-sauce-challenges/
  3. ↑ Singtel. (2011, September 26). JFDI partners SingTel Innov8 to bring successful start-up acceleration programme to Asia Pacific. Retrieved July 2014, from Singtel Web site: http://info.singtel.com/node/9881
  4. ↑ Special Report:Tech Startups The Economist. (2014, January 18). Getting up to speed. Retrieved July 2014, from The Economist Web site: http://www.economist.com/news/special-report/21593592-biggest-professional-training-system-you-have-never-heard-getting-up-speed
  5. ↑ Russell, J. (2014, January 23). Good news for entrepreneurs in Southeast Asia: JFDI Asia will run 3 accelerator programs in 2014. Retrieved July 2014, from TheNextWeb Web site: http://thenextweb.com/asia/2014/01/23/good-news-for-entrepreneurs-in-southeast-asia-jfdi-asia-will-run-3-accelerator-programs-in-2014/
  6. ↑ Mishra, P. (2014, March 17). JFDI Accelerator Raises $2.1M To Help Singapore Become Southeast Asia’s Startup Hub. Retrieved July 2014, from Tech Crunch Web site: http://techcrunch.com/2014/03/17/jfdi-accelerator-raises-2-1m-to-help-singapore-become-southeast-asias-startup-hub/
  7. ↑ JFDI.Asia. (2014, August 13). Five Fabulous Frog Facts . Retrieved July 2014, from JFDI.Asia Web site: http://jfdi.asia/aboutus/frogs/
  8. ↑ Lee, T. (2013, August 2009). Singapore accelerator JFDI.Asia unveils diverse crop of startups for next bootcamp. Retrieved July 2014, from Yahoo Singapore Finance: https://sg.finance.yahoo.com/news/singapore-accelerator-jfdi-asia-unveils-000044551.html
  9. ↑ Digital News Asia. (2014, June 4). Serious about entrepreneurship? Find out with JFDI Discovery. Retrieved July 2014, from Digital New Asia Web site: http://www.digitalnewsasia.com/sizzle-fizzle/serious-about-entrepreneurship-find-out-with-jfdi-discovery
  10. ↑ Huang, E. (2014, June 4). JFDI’s new 21-day programme to help startups find ‘problem-customer’ fit. Retrieved July 2014, from e27 Web site: http://e27.co/jfdi-launches-21-day-programme-for-startups-to-find-problem-customer-fit-20140603/