Source: The Ascendas-Singbridge Group. From left: Ho Kheng Lian, Venture Partner, Vectr Ventures; Natalie Loh, Vice President of Products, Vanitee; Kuik Xiao Shi, Co-Founder, Vanitee; Pocket Sun, Founding Partner of SoGal Ventures; Adrianna Tan, Founder, Wobe; Virginia Tan, Co-founder and Managing Director of Lean In China; Adeline Quek, Head of Regional Business Development, Grabtaxi; Mrs Nina Yang, Chief Operating Officer of Singbridge.
The Ascendas-Singbridge Group selected two startups from Singapore to compete in the finals of the Ascendas-Singbridge Her Startup 2016 competition. Vanitee and Wobe were chosen from a pool of nine finalists and will move on to the final round in Silicon Valley on July 20, 2016.
Ascendas-Singbridge Her Startup 2016 is the first international startup competition specifically for women entrepreneurs. The competition, organized by TechBase, SoGal, Lean In China, and Krspace, aims to provide women with a platform to present their ideas and innovations to a global audience. Each participating team must have at least one female member, or its product or service must positively impact women. Ascendas-Singbridge, an Asian provider of urban solutions and business spaces, is the primary sponsor of this year’s event.
Vanitee, a beauty and wellness marketplace, connects customers with beauty professionals. Co-founder Kuik Xiao Shi shared that the company is focused on enhancing customer relationships, perfecting the user experience, and expanding its business. They are proud to have created a platform for beauty professionals to promote their skills.
Wobe develops mobile business and finance tools tailored for women in Southeast Asia. Founder Adrianna Tan aims to revolutionize the microbusiness landscape and create financial equity in cash-based economies like Indonesia. The company’s mobile application facilitates streamlined and cost-effective prepaid credit buying and reselling, enabling low-income individuals without capital access to participate in microbusinesses.
Wobe plans to launch its mobile application nationally in Indonesia in the upcoming months, targeting both urban and rural areas.
Virginia Tan, Co-founder and Managing Director of Lean In China and founder of the Her Startup competition in 2015, highlighted the increase in female entrepreneurs with innovative ideas. However, access to funding remains a significant challenge. The competition has showcased numerous early-stage startups, many of whom secured initial funding rounds due to their innovative solutions. In 2015, 40% of global finalists collectively raised over US$5 million after the competition. The competition empowers women by providing access to knowledge, expert guidance, and a supportive community.
The Singapore live pitching round on June 14th took place at Workcentral, a Dhoby Ghaut co-working space. Each Singaporean startup had five minutes to pitch their ideas to judges from GrabTaxi, SoGal Ventures, Arbor Ventures, Venturra Capital, Vectr Ventures, and KK Funds. The judges assessed the business models, team experience, market potential, and product scalability.
SoGal Ventures founding partner and judge Pocket Sun commended the impressive teams. Vanitee was chosen for its significant growth, traction, and strong execution, making the Silicon Valley program an ideal US entry point. Wobe’s mobile application, with its potential to empower unbanked women in Indonesia, also impressed the judges. Founder Adrianna Tan exhibited strong technical knowledge and an understanding of emerging markets.
Ascendas-Singbridge actively supports startups in the innovation ecosystem, including those focused on women, to encourage greater female participation in the sector.
Mrs. Nina Yang, Chief Operating Officer of Singbridge, stated that Ascendas-Singbridge aims to cultivate a robust entrepreneurial spirit within its operating communities. As a first-time host of the Singapore round, the company is excited to support the country’s dynamic startup scene and provide aspiring entrepreneurs with a platform to transform their ideas into tangible solutions.
Beyond sponsoring Ascendas-Singbridge Her Startup 2016, the Group has launched other initiatives to maintain its market leadership. These include establishing a Deep Technology Hub at Singapore Science Park I to pilot a co-working space model for startups and growing companies and launching AIRmaker, an accelerator supporting startups in Asia.
From May 27th to June 24th, Ascendas-Singbridge Her Startup 2016 is hosting competition rounds across China, the US, Singapore, and Vietnam. Fifteen finalist teams from the four countries will advance to the global finals in Silicon Valley. Finalists will receive a US$5,000 scholarship for Draper University’s one-year MBA program and participate in a week-long experience involving an entrepreneurship bootcamp and visits to prominent tech companies and incubators.
All 15 finalist teams pitching in Silicon Valley will receive mentorship, funding opportunities, and media exposure from experts, investors, CEOs, and fellow entrepreneurs.
Key competition dates:
- May 27th: Beijing Round
- May 28th: Hangzhou Round
- May 29th: Chengdu Round
- June 4th: Guangzhou Round
- June 5th: Shenzhen Round
- June 11th: Vietnam Round
- June 14th: Singapore Round
- June 18th: China Final in Beijing
- June 22nd: New York Round
- June 23rd: Los Angeles Round
- June 24th: San Francisco Round
- July 20th: Global Final in Silicon Valley
For further reading:
- TechTrade Asia blog post about the Guangzhou leg of the competition
- TechTrade Asia blog post about Vanitee’s funding
- WorkSmart Asia blog post about Ascendas OneHub Guangzhou Knowledge City