Malaysia’s VC firm 1337 Ventures awards 3 new PH startups
By Tomas S. Noda III
Malaysia-based venture capital firm and accelerator 1337 Ventures has selected three new startups, for top honours, in the Philippines over the weekend during its Alpha Startups PH Batch 2 event in Makati City. The winners are online (no credit card needed) bus reservation Bustayo, Web-based wedding management tools Betterhapp, and a POS… Read more »
The Asian Institute of Management (AIM) and Philippine Development Foundation (PhilDev) have launched a new local startup programme – AIM-Dado Banatao Incubator.
Dreamplex Co-working Space – which recently played host to US President Barack Obama who spoke on entrepreneurship with Vietnam’s buzzing startup community – has, in a short span of five months, launched several incubation programmes and partnered with overseas venture-builders, signalling that the country’s startup ecosystem is coming of age.
As the 2014 IPO of Vietnam’s state-owned carrier Vietnam Airlines offered only less than 4 per cent of its equity, the company is now looking at the possibility to offload the state ownership further to 65 per cent. In the space of tech startups, three young Vietnamese companies have been selected in the accelerator programme of Malaysia’s 1337 Ventures, receiving $25,000 support each.
Alpha Startups Indonesia, unit of Malaysia’s 1337 Ventures, a leading Southeast Asian accelerator and early-stage investor, announced the top three teams received funding and services worth $25,000 each.
For the past two years, the Philippine startup community has consistently made developments, but despite all these, the country has yet to give birth to a startup ecosystem.
All six investment partners will take part in one-to-one equity co-investment exercise with Cradle, each investing up to $120,000 (RM500,000).
Indonesia is widely viewed as one of Asia’s fastest growing startup ecosystems, as a result of the emergence and support of local venture capital firms, institutional investors and favorable government policies.