Johnny Chuang – My AppWorks & Web3 Journey

Johnny Chuang, Analyst (莊子揚 / 分析師)

Johnny is an Analyst covering web3 founders both in AppWorks Accelerator and AppWorks Funds portfolio. Before joining the team in 2023, he worked as a DeFi Strategist at Diamond Protocol, where he was responsible for portfolio management, protocol architecture design, and liquidity provision strategies backtesting. In this experience, Johnny successfully helped the protocol grow from zero to one.

Johnny graduated with a Bachelor’s in Finance from National Taiwan University. During this time, he interned at AppWorks and a hedge fund, and was the captain of the basketball team of the finance department. Outside the realm of work, he enjoys shooting hoops, working out, and losing himself in sci-fi novels and movies.

(English Below) 2019 年 5 月,出於對創投產業的好奇心,當時還在台大財金系就讀的我,參加了學校安排參訪 AppWorks 的活動,並在一個月後站在第 18 屆的 Demo Day 台下,看著台上的創業者閃閃發光。而這個基於好奇心而牽起的緣分,一眨眼就延續了四年到了現在。

那之前的我,深陷在財金系「實習至上」、「投行、管顧才是 Tier 1 工作」,以及身旁的人無不使出渾身解數,想在光鮮亮麗的金融產業中,謀得一份實習的風氣中,我過得載浮載沉,一方面從小在台灣重視學科教育的環境下,我逐漸培養出一種競爭者的心態,深怕在大學這個階段落後他人,也因此付出了不少努力,追求那些我並不真正想要的頭銜與機會;另一方面,雖然輪廓還很模糊,但我隱約感受到我真正感興趣的,並不是傳統金融行業,因此在大學前兩年,我過得十分迷惘。

參訪 AppWorks,以及實際參與 Demo Day 後,彷彿為我打開了一個新的維度。在認知到許多有能力的創業者,願意放棄普世價值所追求的成功,轉而從零開始打造屬於自己的事業後,我意識到人生其實還有另外一個選擇:靈魂拷問自己想要的是什麼後,不追隨任何人,開拓屬於自己的道路。

後來,秉持著對這條新道路的好奇心,我在 2020 年以實習生的身份加入了 AppWorks。在 AppWorks 的實習對我來說,像是經歷了一次個人成長的加速器,許多新的想法都在這個階段萌生,許多疑惑也在其中解開。過程中,我接觸了很多我從未想像會觸碰到的產業,像是印尼的 P2P Lending、台灣的社群媒體等,我也發現自己非常享受學習未來 5-10 年,才會映入大眾眼簾的產業,以及與創業者交流,了解他們創業各種決策背後的邏輯與過程。也是在這時期,我接觸到了區塊鏈及 DeFi。

記得第一次看到 Compound Finance 的模型時,我像著了魔似地瘋狂研究它的白皮書,並驚嘆其透過僅數百行的程式碼,就能創造出一個完全去中心化的借貸市場,基本上完美提供了傳統銀行所能提供的服務,且不需要任何信任、不需要任何中心化機構的介入。隨著時間推進,我開始越來越相信區塊鏈技術能為全球的金融,以及未來人們在網路上的生活方式,所帶來的巨大革命。也因此,在畢業後我走了一條和 99% 同學不同的道路:我以 DeFi Strategist 的身份加入了 OMO Finance 這家區塊鏈新創。

在 OMO Finance 的時間裡,除了執行各種交易策略,協助高淨值客戶進行加密貨幣的資產管理配置外,我也協助公司建構出 Diamond Protocol,一個專為 Uniswap V3 上流動性提供者開發各種工具的協議。創建新產品的過程中,我是真實感到快樂的,從設計整個協議的架構、撰寫白皮書,再到進行各種回測、分析,以及和 Founder 對於推動到市場的策略進行各種思辨,每一刻我都感覺到自己是真正活著,真正在 BUIDL,真正在為了推動去中心化金融付諸努力。

然而,隨著我對這個產業的理解越來越深,我開始有了新的價值觀。

在見證了 2022 年諸多「黑天鵝」事件後,我開始意識到這個產業仍相當早期,相當不成熟。許多創業者為了賺快錢而採取極端做法,最後當音樂停止,一切泡沫破裂時,對區塊鏈行業造成的傷害,需要好長時間才能撫平。而回歸到 DeFi 產業上,投機心理造就了這個行業的原罪,導致如今大部分的協議本質上都是在追求「短期收益」,不斷地創造 Money Lego 並將其堆疊的行為,並無法真正乘載下一個十億用戶到這個應許之地上。

我開始渴望,能夠從更多面向去理解,並幫助這個產業中的創業者,我開始希望自己能在產業的推移演進中扮演一個更全面的角色。於是,伴隨著這些反思,我想起了 AppWorks。於是,帶著這些在區塊鏈產業的經驗,我回來了。

親愛的創業者,我是 Johnny,如果你也對區塊鏈技術有著非常深的信仰,並相信這個技術終將為人類社會帶來下一次網路世代的革命,非常歡迎來找我聊聊!

In May 2019, out of curiosity about the venture capital industry, I participated in a school event and visited AppWorks. A month later, I stood under the stage at the 18th Demo Day and watched the entrepreneurs shining on the stage. The special bond between AppWorks and I has lasted for four years and is still going.

At that time, I was deeply affected by the culture of “internship first” and “investment bankers and consultants are the only jobs that we should do” in my school. Back then, everyone around me was doing their best to get an internship in the glamorous financial industry. On one hand, as a student that received an education in Taiwan, I have gradually developed a competitive mindset that made me extremely fearful of falling behind others, and as a result I put in a lot of effort in pursuing titles and opportunities that I was not sure if I truly wanted. On the other hand, although the vision was still vague, I could feel that I was not really interested in the traditional financial industry. Therefore, during the first two years of university, I was quite lost. 

Visiting AppWorks and attending Demo Day opened up a new dimension of thinking for me. After realizing that many capable entrepreneurs were willing to give up the standard career track and start building their own products from scratch, I realized that there is another path in life, that is, not following anyone else’s footsteps, but to create our own paths. Later on, with my curiosity about this new path, I joined AppWorks as an intern in 2020. The internship at AppWorks was like an accelerator for my personal growth. Throughout the internship, many new ideas emerged, and many doubts were also resolved. During this period, I had a chance to touch upon many industries that I had never imagined, such as P2P lending in Indonesia and social media in Taiwan. I found that I really enjoyed learning about industries that would only be visible to the public in 5-10 years, and communicating with entrepreneurs to understand the decision-making process behind their vision. It was also during this period that I went down the rabbit hole of blockchain and DeFi. 

I still remember when I first read about Compound’s model, I was immediately drawn in. I studied its white paper and just can’t help but marvel at how it could create a fully decentralized lending market with only a few hundred lines of code, while basically providing services that traditional banks could provide without any trust requirements and without any centralized institutions. As time went on, I began to believe more and more in the huge revolution that blockchain technology could bring to global finance and people’s lives on the internet. Therefore, after graduation, I chose a different path that 99% of my peers would not understand: I became a DeFi strategist at a web3 startup called OMO Finance. 

During my time at OMO Finance, aside from executing various trading strategies and assisting high-net-worth clients with their cryptocurrency asset management, I also helped the company develop the Diamond Protocol, a protocol designed to help liquidity providers on Uniswap V3 with various tools. I felt genuinely happy throughout the process of creating this new product, from designing the protocol’s architecture, writing the whitepaper, conducting various backtests and analyses, to brainstorming the go-to market strategies with the founder. Every moment, I felt like I was truly alive, truly building, and truly working hard to drive decentralized finance forward. 

However, as my understanding of the industry deepened, I began to develop new values. 

After witnessing many “black swan” events in 2022, I realized that this industry is still in its early stages and quite immature. Many entrepreneurs have taken extreme measures to make money, and when the music stops and the bubble bursts, the damage caused to the blockchain industry will take a longer time to heal. Going back to the DeFi industry, investors’ speculative mentality has created the original sin of this industry, resulting in most protocols essentially pursuing “short-term gains” and constantly stacking money legos, which cannot truly onboard the next billion users onto this technology. I began to yearn to understand more aspects of this industry and help entrepreneurs in it. I started to hope that I could play a more important role in the industry’s transition and evolution. With these reflections, I thought of AppWorks and decided to return with my experiences in the blockchain industry over the past few years. 

Dear founders, this is Johnny calling out. If you also have a deep faith in blockchain technology and believe that it will bring about the next generation of the internet revolution for human society, I warmly welcome you to come and talk with me!

WeMo Raises Series A+ Round to Accelerate Southeast Asia Expansion, Led by AppWorks

WeMo CEO – Davidd Liu 劉于遜 (Left), WeMo Co-Founder & Vice Chairman – Jeffrey Wu 吳昕霈 (Right)

Editor’s note: We’re thrilled to back WeMo Scooter, a pioneer in urban mobility technologies. With its proven track record in smart transportation and fleet management, WeMo is working with partners in Southeast Asia and around the world to realize net zero carbon emission transportation. The press release from WeMo is below:

(漢文在下) WeMo Corp, a pioneer in urban mobility technologies, announced the completion of a Series A+ round led by AppWorks, with participation from Taiwan National Development Fund.

With its mission to reduce dependency on privately-owned vehicles and decrease carbon emissions, WeMo has amassed a user base of over a million members in its seven years of smart vehicle operations, and has gained a dominant position in the Taiwan market. The company has made dramatic adjustments throughout the pandemic to meet ever-changing consumer needs, and positioning itself for long-term growth, including investments in product and technology that are intended to help governments, businesses, and communities embrace more sustainable ways of transportation and living.

In 2022, WeMo launched a number of new products and services based on emerging consumer demand following Taiwan’s reopening, including: WeMo RenTour, which offers app-based rentals for electric cars, scooters, and bicycles; and WeMo PASS, offering free and discounted rides of electric scooters and other benefits on a subscription basis. Revenue has returned to pre-pandemic levels, recording double-digit growth. The company anticipates accelerated growth over the next few years, building off increasing demand for shared transportation, electrification, fleet management, and resumption of normal economic activity.

In addition to its convenient roadside rent-and-return services, WeMo offers a comprehensive Mobility-as-a-Service platform with a focus on fleet and operations management under one integrated system, which intimately aligns with global market urbanization demand and greenification trends. With WeMo’s modular, efficient, and all-in-one tool “Smart Mobility Center,” fleet operators are able to gain access to historical and real-time data, accurate forecasting, and analytics to improve fleet management. Data and module specifications can be customized to each operator’s region, vehicle type or other needs to help achieve sustainability goals and seamlessly manage vehicle fleets.

“As a pioneer of shared e-mobility in Taiwan, WeMo has gained significant momentum in the island country known to have the highest motorcycle per capita. Over the past seven years, we accumulated valuable experiences in product development, user experience design, and AI / IoT technologies. As WeMo emerges from the pandemic in a position of strength, we are excited to expand our footprint to Southeast Asia where we can help governments and businesses achieve greener transportation and effectively manage their electric fleets,” said Davidd Liu, CEO of WeMo.

With this round of financing, WeMo plans to expand its service to Southeast Asia, with an emphasis on Indonesia and Thailand. In anticipation of rapidly growing demand for electric vehicles and alternative transportation solutions, the company is building partnerships with governments, investors, businesses, and transportation providers throughout Southeast Asia to offer green transportation and fleet management services to support the region’s transition to zero emission.

“In recent years, accelerating impact of climate change and severe weather has created greater impetus to transition to net zero economic and societal models. Throughout the pandemic, the WeMo team has demonstrated amazing resilience and execution through operations excellence, product innovation and a focus on seamless consumer experiences, leading to a sound financial performance that will allow them to expedite expansion and contribute to Taiwan and the Greater Southeast Asia region’s pursuit of zero carbon societies. As an early believer in WeMo, AppWorks has great confidence in this team’s future under the leadership of Jeffrey and Davidd,” said Jamie Lin, Chairman, AppWorks.

“Sustainable green energy development is the predominant global trend for energy and transportation, and is the core spirit of WeMo from inception. Building off the continuous and steady growth of WeMo, we will leverage our proven expertise in electric and shared vehicles to offer sustainable solutions for smart transportation throughout the Greater Southeast Asia region,” said Jeffrey Wu, Founder and Vice Chairman, WeMo.

About WeMo

WeMo Corp is an urban mobility solutions provider developing technology and services with the goal of decreasing dependency on privately-owned vehicles, reducing pollution, and improving urban life for all. WeMo empowers urban residents to enjoy zero carbon transportation on their own terms, including mobile-based rentals for automobiles, scooters, and bicycles. Understanding the importance of mass adoption of green technologies, WeMo’s fleet technology offerings help businesses manage their electric vehicle fleets in real time. As of 2022, WeMo has contributed to positive growth and resolving issues through reducing CO2 emissions by 3.5 million kg.

For more information, please visit http://www.wemoscooter.com

[If you are a founder working on a startup in SEA, or working with web3 / DAO and AI / IoT, apply to AppWorks Accelerator to join the largest founder community in Greater Southeast Asia.]

WeMo Scooter 疫情後穩健成長,AppWorks 2023 年開春加碼增資助攻開啟國際拓展

2020 年初疫情趨峻以來全球經濟市場受到衝擊,亞洲智慧共享運具先驅 WeMo Scooter 憑藉高度彈性應變能力並掌握即時數據,迅速針對消費者需求調整產品與盈利模式,在後疫情時代擴張用戶族群及數量、營收反彈成長,持續穩健發展。此外,WeMo Smart Mobility 團隊擁有三大優勢與核心智慧車聯網技術,既有投資人 AppWorks 看好其團隊具備跨域、跨運具營運能量,可望進軍商機龐大的東南亞智慧運輸市場,於 2023 年開春完成加碼增資數百萬美元助攻,以此展開拓展東南亞市場的初期工作,並啟動更多國際合作並募集海外資源挹注。

後疫情時代市場詭譎多變,WeMo Scooter 在短期內針對消費者需求調整產品與消費模式,2022 年底用戶數成長驚人,其活躍使用率更是提升逾 10%,不管是新舊用戶黏著度正不斷地升高,顯示疫情後大眾的移動習慣已產生改變。此外,因應消費者及企業端跨域、跨運具需求,WeMo Smart Mobility 團隊在 2022 年第三季推出子品牌 WeMo RenTour,是台灣首個結合手機 App 租賃,整合橫跨汽車、機車及電動自行車等多元運具與不同租賃品牌的服務。並且,團隊觀察到市場對共享運具的需求與使用習慣改變,於 2022 年第四季推出全台首創共享機車訂閱制 WeMo PASS,消費者不再受限過往訂閱的趟次與時數限制所綑綁,訂閱數在首月即獲得佳績,超越預估並翻倍成長。WeMo Scooter 在 2022 年整體營收相較去年以雙位數百分比成長,並回到疫情前水準,可望在未來三至五年再以倍數成長躍進。

WeMo Smart Mobility 團隊三大優勢及核心技術對齊市場剛需及趨勢,既有投資人 AppWorks 看準團隊應變效率與跨域、跨運具適性,加碼增資助攻海外:

  1. 後疫情時代大環境受到衝擊,WeMo Scooter 在一片紅海中非但不以變相削價方式競爭,更打破市場傳統框架推出 WeMo PASS,用戶黏著度創新高,營運含金量再提升。 「智慧城市調度」管理也高度提升資源有效利用,不但滿足用戶需求,更符合 WeMo Scooter 一直秉持的綠色永續發展精神。
  2. WeMo 為智慧運輸車聯網公司,主力產品 WeMo Scooter 在台灣三大城市經營 7 年以來,已打下深厚基礎,擁有豐富第一線營運及服務經驗,並具備完整「數據累積和即時運用」能力,成功應用在跨域及跨運具營運平台及整合租賃業者資源,有足夠成熟能量向海外擴展。
  3. WeMo核心能力不單是提供路邊隨租隨還的便利服務,其完備的車聯網技術與車隊整合系統精準對齊全球市場剛需及趨勢,並在每個開發階段所累積的數據與模組規格能夠彈性應用,達到車聯網服務最大化效能,不再侷限地域及運具,達到環境永續目標。

在經歷三年疫情的衝擊後,產業界開始面對 2023 年全新的政經局勢。國際貨幣基金 (IMF) 預期 2023 年全球將面臨嚴峻挑戰,美國、歐洲及中國三大經濟體將持續呈現衰退,將導致至少 1/3 其他國家陷入景氣衰退。

AppWorks 董事長暨合夥人林之晨指出:「近幾年大家都感受到氣候變遷與劇烈氣象,對生活帶來的衝擊,認知到實現淨零碳排的必要,其中,加速共享、綠色運輸的發展,至為關鍵。因此,AppWorks 長期支持 WeMo Smart Mobility,期望加速其在台拓展與區域化的腳步。過去三年,在疫情反覆衝擊的營運環境下,WeMo 經營團隊展現出驚人的韌性與執行力,不僅在產品與服務上能持續創新,提供用戶更多選擇、更好體驗,在 WeMo PASS 助攻下,財務表現更是屢創新高。AppWorks 相信,進入後疫情階段,經過淬鍊的 WeMo 團隊,結合自身的經驗與優勢,必定能在大東南亞舞台寫下美好的新篇章。」

WeMo 執行長劉于遜表示:「身為台灣綠色共享運具先驅,過去 7 年以來在台灣本土深耕獲得許多寶貴經驗,也累積成熟能量發展各種盈利模式,並隨時保持敏捷滾動式調整策略與腳步,在最壞也是最好的時代從台灣出發,期盼能在海外市場取得更多國際合作與資源挹注。」

全球及亞太智慧運輸市場需求激增,依據 kbvresearch 調查,全球智慧運輸市場正以 8.7% 複合成長率擴張,將在 2023 年達 571.95 億美元的市場規模。越南、菲律賓、泰國、新加坡、印尼、印度等亞太多國皆有重大交通建設工程。WeMo 副董事長暨創辦人吳昕霈強調:「綠能永續發展亦是全球焦點趨勢,也是 WeMo 營運發展核心之一,WeMo 在持續穩健成長之下,將挾三大優勢跨海強攻,並在 AppWorks 加碼增資助攻之下,目標在數位經濟時代以跨國界、跨運具之強大策略武器打開所有可能,建立亞太智慧運輸永續生態圈。」

【歡迎 Web3 / DAO、AI / IoT 以及目標 Southeast Asia 市場的創業者,加入 AppWorks Accelerator

Indonesia’s Largest AgriTech Platform EdenFarm, Raises $13.5M Pre-Series B Round Co-led by TMI, AppWorks, and AC Ventures

Editor’s Note: We’re proud to back EdenFarm, the largest agritech platform in Indonesia. EdenFarm has secured $13.5 million in its latest Pre-Series B round. The press release from EdenFarm is below:

  • Led by Telkomsel venture arm, TMI, with AppWorks and AC Ventures among other investors.
  • EdenFarm has raised $13.5 million in their new Pre-Series B funding round; proceeds from this round will advance EdenFarm’s proven profitability track record in improving farm-to-table sustainability and providing tech-based solutions to B2B food supply chain’s most pressing problems.
  • This new round demonstrates TMI’s commitment to supporting the empowerment of leading digital players while accelerating digital transformation in the country’s agricultural sector to strengthen an impact-driven and sustainable national digital ecosystem.

EdenFarm, a food service-focused startup based in Indonesia, has secured $13.5 million in its latest Pre-Series B bridge round, which was led by Telkomsel venture arm – TMI, AppWorks, and AC Ventures, also supported by Decart Ventures, Fubon Capital, Trihill Capital, OCBC NISP Ventura, Nakhla and Capria Ventures. This corporate action is Telkomsel and TMI’s commitment to nurturing the potential digital startups in the country and the Indonesian agricultural sector to be more advanced and developed through the use and optimization of leading and sustainable digital technology.

EdenFarm aims to build a food supply chain ecosystem in Indonesia that is profitable and sustainable for the farmers and all stakeholders. EdenFarm has raised $34.5 million throughout the fourth significant funding round for EdenFarm since its establishment in 2017. The funds raised will deepen EdenFarm’s penetration in key farming partners across Indonesia, improving customer experience with tech-based solutions for the country’s most pressing food security and efficiency problems.

Founder and CEO EdenFarm’s, David Setyadi Gunawan says, “EdenFarm is thrilled to team up with Telkomsel to add precision farming technologies and insights to our local farmers. Our range of products caters to all aspects of the agriculture industry, from farms to distribution, to help farmers create sustainable and profitable businesses. The recent funding will allow us to grow our presence in Indonesia and solidify our position as a leading player in the agriculture and food service sectors. We believe that this partnership with Telkomsel will significantly benefit our platform.”

“EdenFarm has seen almost 60X growth in the last 40 months and has laid the foundation to remain profitable on its path, leading amongst other players who are suffering big losses. It signifies the victorious status of EdenFarm as a market leader in agri-tech. We aim to widen the profit in the next 12 months, along with 3.5-4X growth on a YoY basis. From there, it will pursue new markets”, added David.

CEO of Telkomsel Mitra Inovasi (TMI), Mia Melinda says, “TMI believes in the important use of “tech for good” and helping entrepreneurs and small businesses with high dedication and passion for making a positive impact for Indonesia’s economy has always been our focus. EdenFarm’s strong B2B food supply chain network from upstream to downstream empowers local farmers to gain better income and create a positive impact in rural areas. Hence, we are excited to back the EdenFarm food ecosystem with funding and collaboration with Telkomsel Digital Food Ecosystem (DFE), which is one of Telkomsel’s initiatives to support the digitization in the agricultural sector, and other synergies to propel EdenFarm’s platform throughout Indonesia to secure long-term food needs.”

Adrian Li, Founder and Managing Partner at AC Ventures, said, “Strongly aligned with our firm’s ESG-focused investment philosophy, EdenFarm is operating at nearly 0% food waste and delivering a robust and meaningful impact to the livelihoods of Indonesia’s farmers. The startup is revolutionizing the country’s B2B food supply chain by addressing some of the most pressing challenges both producers and sellers face. We at AC Ventures are confident in EdenFarm’s business and are excited to participate in its latest funding round. We are proud to serve as a catalyst to drive forward EdenFarm’s mission of building a more efficient and sustainable food ecosystem in Indonesia. The impact EdenFarm is making is truly transformative, and we can’t wait to see more positive changes this team brings about in the industry.”

EdenFarm, a food-service-focused startup pioneer with a focus on B2B customers, started the business in 2017 with a vision to simplify Indonesia’s B2B food supply chain and empower the food ecosystem to improve the welfare of farmers, food and culinary business actors through accurate demand consistency, various training, and technological support. EdenFarm serves more than 50,000 customers in the B2B segment, ranging from the secondary market, culinary SMEs, and HORECA to startup partners.

About EdenFarm 

EdenFarm is a pioneer in B2B food service focused startups in Indonesia, whose mission is to build an efficient food ecosystem for farmers and food & culinary business. Leveraging technology to empower local farmers and create a positive impact in rural areas, EdenFarm aims to simplify food supply chains and, at the same time, helps to improve farmers’ welfare through accurate demand consistency and various training. Supported by local and global investors, EdenFarm now operates in 14 cities and three districts throughout Java and continues to serve over 50,000 B2B customers throughout the island. EdenFarm’s user-friendly mobile app is available on the AppStore and Google Play Store.

For more information, please visit www.edenfarm.id

[If you are a founder working on a startup in SEA, or working with web3 / DAO and AI / IoT, apply to AppWorks Accelerator to join the largest founder community in Greater Southeast Asia.]

Benson Chin (Executive Director, Value Creation Center, Wistron): Creating New Value through Synergies with Startups

Communications Master, Communication Master

Antony is a Master specializing in advising AppWorks startups on public, media and social media relations and communications matters. He joins Team AppWorks with over 18 years of media experience under his belt, having been a part of the very first batch of reporters to cover the Internet industry in Taiwan. He’s since held various senior level roles at prominent publications including Vice Chief Editor at Business Next Magazine, Senior Associate Managing Editor at Cheers Magazine, and Chief Editor at SmartM. Antony received his Bachelors in Management Science from National Chiao Tung University, and has tracked closely the evolution of media. Seeing himself as an “Internet missionary,” Antony loves sharing with others the sheer impact of digital technologies, particularly as it pertains to revolutionizing businesses and facilitating a new age of entrepreneurs.

Large enterprises collaborating with startups has become a leading trend in recent years for boosting innovation, and Wistron is one of the most representative examples of this. In addition to actively encouraging internal innovation, Wistron has also launched various initiatives such as the Wistron Vertical Accelerator through a strategic alliance with AppWorks, to engage in more extensive and systematic collaboration with external startups. In this process, the Value Creation Center (VCC) under the CTO’s office, is one of the driving forces, connecting the internal and external innovative energies and facilitating a variety of innovation possibilities. In its collaborations with startups, VCC offers design services (ODM) and external resource connections (Outreach Business), providing complete assistance to early-stage startups with product volumes under 10K. VCC also helps startups connect with various Wistron business units to receive broader support.

In a special interview with AppWorks, Benson Chin, who has served at Wistron for over 25 years and is the Executive Director of the Value Creation Center, shares Wistron’s significant stages in promoting innovation and the experiences and gains from deep collaboration with startups and participation in Wistron’s accelerator. Here are the key points:

Q: What role does VCC play in various business units within the Wistron Group, and what are its future strategies and goals?

A: As the name of the Value Creation Center suggests, our main goal is to create value, not just save costs. Wistron’s core business is ODM/OEM, and our long-term expertise lies in efficiency, quality, speed, and scale. But Wistron also has a distinctive DNA – we place a strong emphasis on innovation, and value creation will inevitably come from the synergies of innovation. So, our name reflects the mission and expectations that Wistron has entrusted to us.

Over the ten-plus years since VCC was established, our role and objectives have gone through three phases. Initially, we helped various Business Groups (BGs) and Business Units (BUs) with projects they deemed important but lacked the manpower, time, or ability to pursue. This was our starting point, so we had a deeper connection with various BGs and BUs. In the second phase, as our department developed, we started to anticipate our customers’ needs, doing things they hadn’t yet thought of, or preparing next-generation products to create more value for them.

Now we are in the third phase. We are continuously contemplating whether we can create valuable services, business models, or solutions for the company. This gives us more room and flexibility to diversify our development. We are always looking for a balance between maintaining necessary connections with each BG and BU to increase their value while proving our own, and helping Wistron make various longer-term innovative attempts.

Q: What specific approaches does the VCC take in terms of various innovations?

A: As Wistron has developed, it can be divided into two main strategies: encouraging internal innovation and connecting with external startups. For internal innovation, over the past 10 years, we’ve held two internal Demo Tech Day Road Shows each year, totaling 20 times, to present various innovative technologies or products from business units or the VCC. In addition, we’ve co-hosted several Golden Brain competitions with other educational training centers, encouraging our colleagues to participate in innovation competitions and propose various innovative products or business models. Some of our recent new products, such as the smart flower pot, smart coffee scale, and smart voice assistant for medical care , all came from the top-ranked products of the GoldenBrain competition. No matter which team the contestants belong to, VCC will assist in connecting and cooperating with the relevant BG or BU, continuously sparking ideas internally and enabling the team to fully realize their products or business models.

The other approach is to connect with external startups and collaborate on their innovative technologies, products, services, or business models. This is a role that the VCC has played more prominently in the past three to five years, shifting from an Inside Out approach to an Outside In one, learning together with external startups and co-creating value. As the overall industry changes faster and becomes more diverse, various BGs and BUs within Wistron are gradually establishing their own teams similar to the VCC, focusing on new technologies and products in the next one to two years, mainly serving existing ODM and OEM customers. We, on the other hand, focus on opportunities three to five years out or even longer. Looking at the results, the VCC has had a positive impact internally over the past few years, with innovation becoming a part of our DNA, and all units are paying more attention, with teams similar to the VCC gradually emerging.

Another role of the VCC is to facilitate horizontal communication and connection between various internal and external units. Because each BU, BG, or subsidiary has its own core focus, it can sometimes be difficult to keep track of what changes are happening outside. Our role is to create more horizontal connections, both internally and by helping external startups connect with units within Wistron. Internally, when various BGs and BUs develop new products, they may lack certain skills such as EE (Electronic Engineering), ID (Industrial Design), or UI/UX. At this point, they will seek our support. For example, Wistron is developing AMR (Autonomous Mobile Robot) fleets that can be applied in different areas such as medical care, shopping centers, public transportation, logistics warehouses, and factories, and ID and UI/UX are supported by the VCC. For external startups, we can also help connect them with our internal technology and manufacturing. For example, during the pandemic, there was a startup team from the Industrial Technology Research Institute whose product was an antimicrobial liquid generator. Using electrochemical technology, they can electrolyze tap water into highly active oxygen antimicrobial liquid. We assisted in the design and manufacturing of the product’s bottle and charging equipment.

I have been serving in Wistron for over 25 years, and the VCC team is very diverse. Besides having seasoned employees like myself, we also have very young colleagues. If we consider five years as a generation, our team spans five generations. This diverse background makes us well-suited to serve as a bridge connecting internally and externally. Personally, I thoroughly enjoy being able to produce concrete results and get a glimpse of what’s going on in the outside world.

Providing Comprehensive Services to Early-stage Startups

Q: In terms of collaborations with startups, what stage and fields of startups are VCC’s targets?

A: VCC can provide full-range design services (ODM) and external resource connections (Outreach Business) to startups. Simply put, we have comprehensive support from the entrepreneurial idea stage to the early stage of trial production and mass production of fewer than 10,000 units. This includes product design, needs or marketing research, UI/UX, hardware and software, CMF (Color, Material, Finishing) R&D, small-batch prototyping, prototype making, trial production, etc. Moreover, we have long-term partnerships with first-class academic institutions such as MIT and can help startups introduce forward-looking technologies. If startups need it, we also guide them in listing products on crowdfunding platforms like Kickstarter and Zeczec, or on e-commerce websites like Amazon to learn how to do e-commerce.

Startups have different needs at different stages, and Wistron currently plans to assist through three units. CVC (Corporate Venture Capital) focuses on startup funding, VCC focuses on the function aspect, and we have IIC (Innovation Integration Center) to help startups with small-scale mass production. So, when excellent startups collaborate with us, they get funding, technology, and production support. When startups formally enter scale-up, and their mass production scale is large enough that BGs and BUs are willing to take over, we will assist in making the connection to become long-term customers in the future.

We are not too restricted in cooperating with startups from any field. Going back to market demand, I would define it as the elderly and dogs, lifestyle taste, and ESG aspects. We are more than willing to work with startups that focus on elder care, pet economy, or life applications using AI, IoT, Sensor, Cloud, and other technologies, as well as those developing environmentally friendly products and business models.

When cooperating with startups, we adopt an attitude of mutual respect and win-win creation. In the Wistron logo, the ‘i’ in Wistron is highlighted, representing the two important spirits of Innovation and Integrity. I often proudly say that I am fortunate to be deeply connected with the ‘i’ of Innovation. The other ‘i’, representing Integrity, should be the most basic DNA of us as an ODM/OEM manufacturer. We never plagiarize the IP of our clients to make our own products. The cooperation with startups is also based on this spirit. We sign bilateral NDAs (Non-Disclosure Agreements) to protect the IP of both parties. Perhaps there have been some bad businesses in the industry that have taken the IP of cooperating startups, but as far as my time at Wistron, I have never heard of us trying to take advantage of others. A quick check or inquiry in the market will reveal that we have never had such a record.

Q: How does a startup get charged when collaborating with VCC and using the services provided by VCC?

A: Fundamentally, VCC is a Cost Center unit, not a Profit Center. But our goal is to create long-term value for Wistron, so we don’t need to carry short-term revenue or profit financial targets, but all services still need to cover at least the operational costs of the department. Therefore, we will not provide services for free, but the charges, payment methods, and even production quantities will offer great flexibility to startups, with many plans available. We understand that entrepreneurship itself carries high risks and has different considerations, so we have ways to accommodate them.

Q: In your past cooperation with startups, or since the operation of the Wistron accelerator for a year and a half, what personal observations or takeaways do you have from the exchange process with entrepreneurs?

A: So far, we have a very positive view of cooperating with startups. Working with startups or entrepreneurs, we wouldn’t dare say we are mentors, but at least we can contribute some opinions and suggestions. I think this process is more like mutual exchange and learning. If we’re talking practically, this process can indeed help Wistron connect with some potential future customers.

Another gain we didn’t anticipate previously was the diversity of startups recruited and filtered through AppWorks to join the Wistron accelerator, which far exceeded expectations. For example, in the third term from September to December 2022, we saw startups covering areas such as FinTech, AR, Material Science, IC Design, etc. Through exchanges with them, we not only gained a deeper understanding of the most cutting-edge industry changes, product and business model development, but also saw the tangible help that VCC and other participating units of the Wistron Group can provide to startups, which is very fulfilling.

One of the startups we discussed a while ago, PackAge+ PeiKeJia, is one of the startups I greatly appreciate. Taiwanese e-commerce ships hundreds of millions of cartons as packaging materials each year, the vast majority of which are only used once, which is very wasteful and not environmentally friendly. They use material technology to promote circular packaging, turning recycled PET bottles into packaging bags that can be reused more than 30 times. They have started cooperating with many e-commerce companies in Taiwan and have secured over 3,000 recycling points in FamilyMart convenience stores during the pandemic. I’ve always thought the concepts of environmental protection and ESG are great, but it’s really not easy to turn them into a profitable business. Their willingness to take on this challenge and achieve good results is commendable.

Q: What advice do you have for startups who want to apply for the Wistron Accelerator or want to start a dialogue and cooperate with VCC?

A: I think the most important thing is to have a mindset that doesn’t limit oneself. When applying, you don’t need to immediately think about connecting with Wistron’s ODM, OEM businesses, or any unit, or what topic you want to work on. Instead, I think the senior executives of each unit joining the Wistron Accelerator are very humble and open. We’re not only helping startups, but we’re also learning a lot from entrepreneurs and startups. For example, I don’t believe we know more about chips than startups doing IC Design. As long as startups fit within the broad categories set for AI, IoT, cloud, cybersecurity, education, and healthcare, we welcome them and are willing to try various possibilities. I believe that during the few months of the accelerator period, we will gradually find some focal points for cooperation.

Furthermore, I hope that entrepreneurs have big dreams because if a company doesn’t have grand dreams, it’s unlikely to be remembered. In addition to having grand dreams, entrepreneurs also need the capability to realistically pursue them. Building a business requires a vision, but it also requires practical strategies and execution. You can dream of transforming an industry or creating a novel product, but you need to have the skills and the drive to turn that dream into a reality. That’s the kind of ambitious and dedicated mindset we’re looking for in the startups that join our accelerator.

***Calling founders working in AI, IoT, Cloud, Cyber Security, EdTech and MedTech to apply for Wistron Accelerator ***

秦北辰 (緯創資通價值創新中心總監):打造新價值,來自與新創合作的加乘

Antony Lee, Communications Master (李欣岳 / 媒體公關總監)

負責媒體與社群溝通相關輔導。加入 AppWorks 前有 18 年媒體經驗,是台灣第一批主跑網路產業的記者,先後任職《數位時代》副總編輯、《Cheers 快樂工作人》資深主編、SmartM 網站總編輯。畢業於交大管科系,長期關注媒體產業變化,熱愛閱讀商業與科技趨勢、企業與人物故事,樂於與人交流分享,期許自己當個「Internet 傳教士」。

大企業與新創合作,是最近幾年大企業提升創新能量的顯學,而緯創資通是最具代表性的指標之一。緯創除了積極鼓勵內部創新外,也透過與 AppWorks 策略結盟啟動 Wistron Accelerator 緯創垂直加速器等多種方式,更大規模、更有系統的與外部新創展開合作,在這過程中,隸屬於技術長辦公室下的價值創新中心 (Value Creation Center,以下簡稱 VCC),是背後的推手單位之一,透過各種穿針引線的引導,將內部與外部的創新能量進行橫向連結,促成各種創新的可能性發生。在與新創合作上,VCC 提供設計服務 (ODM) 以及外部資源連結 (Outreach Business),讓處於創業 Idea 到試產、產量在 10K 以下的早期新創,可獲得完整的協助,同時,也協助新創串接緯創內部各個單位,獲得更大能量的支持。

AppWorks 特別專訪在緯創服務長達 25 年以上的 Benson 秦北辰 (緯創價值創新中心總監),分享緯創長期以來在推動創新的幾個重要階段,以及近年開始與新創深度合作、參加緯創加速器與創業者交流的經驗以及收穫,以下是重點整理:

Q: 在緯創集團內部各事業單位中,VCC 扮演什麼角色?未來有哪些策略和目標?

A: 從 Value Creation Center 的部門名稱,就知道我們的主要目標是創造價值,而不單僅是節約成本。緯創的本業是 ODM / OEM,拼效率、品質、速度、規模是我們長期以來的專業,但緯創還有一點不同的 DNA,就是很強調與重視創新,而創造價值一定會來自創新的加乘,所以從我們的名稱,就可以了解緯創賦予我們的任務和期待。

VCC 成立至今十多年來,我們的角色與目標大致有三個階段的變化。最早的確是幫各 BG (Business Group)、BU (Business Unit) 做一些他們覺得重要,但並沒有人力、時間或能力去看的專案,這是我們部門的出發點,所以這時和各 BG 與 BU 有較深的連結。第二階段,隨著部門逐漸發展,我們開始走在客戶之前,去做一些客戶尚未想到、來不及做的事情,或是下一個世代的產品,我們先幫客戶準備好,來創造更高的價值給客戶。

現在則是我們的第三階段。我們持續在思考,是否可以為公司開創有價值的服務、商業模式或是解決方案。如此一來,可以做哪些事情的空間與彈性變得更大,發展也可更多元。我們一直在尋找天秤兩端的平衡點,一端是與各 BG 和 BU 維持必要的連結,增加他們的價值,同時也要證明我們的價值;另一端是協助緯創做各種更長遠的創新嘗試。

Q: 對於各種創新的嘗試,VCC 有哪些具體的做法?

A: 隨著緯創一路發展,大概可分為鼓勵內部創新與連結外部新創兩種方式。在內部創新上,過去 10 年來,每年會有兩次內部 Demo Tech Day 的 Road Show,共做了 20 次,對內發表各事業單位或是 VCC 的各種創新技術或產品。此外,我們也與其他教育訓練中心合辦過幾次金頭腦,鼓勵內部同仁參與的創新競賽,提出各種創新的產品或商業模式,我們近年不少新產品,例如智能花盆、智能咖啡秤、行動照護智能語音助理等,都是來自金頭腦競賽前幾名的產品,不管參賽團隊來自哪個單位,VCC 都會協助串接與相關 BG 或 BU 的合作,一直在內部產生這種火花,讓團隊能把產品或商業模式完完整整的做出來。

另一種方式,則是連結外部新創,將他們創新的技術、產品、服務或商業模式與緯創展開合作。這是最近這三、五年,VCC 所扮演更明顯的角色,從原本 Inside Out 變成 Outside In,跟外部的新創一起學習、一起共創價值。因為整體產業變化得更快、也更多元,緯創各 BG、BU 內部,也逐漸在成立自己類似 VCC 的團隊,關注未來一到兩年內的新技術、新產品,主要服務的對象是既有的 ODM 與 OEM 客戶,我們則關注三、五年以後或是更長期的機會。從結果來看,VCC 這幾年為內部帶來了正面影響,創新變成了一種 DNA,各單位都更加重視,陸續開始有類似 VCC 的團隊。

VCC 另外一個角色,則是協助內外部的各個單位產生橫向溝通與連結。因為各 BU、BG 或是子公司,都有自己核心的專注重點,有時難免會無法掌握外面發生了什麼變化,我們的角色,就是希望創造更多橫向連結,包括內部之間,以及協助外部新創連結緯創內部單位。在內部,各 BG、BU 開發新產品時,可能會缺一些 EE (電子工程)、ID (工業設計)、UI / UX 之類的技術,這時就會尋求我們的支援,例如緯創開發可應用在醫療養護、購物中心、大眾運輸、物流倉儲、工廠等不同場域的 AMR (Autonomous Mobile Robot,自主移動機器人) 車隊,ID 與 UI / UX 都是有 VCC 提供支援的部分。對外部新創,我們也可協助連結內部的技術與製造,例如,在疫情期間有一個工研院出來的新創團隊,產品是抗菌液製造機,運用化學的電解技術,可將自來水電解為高活性氧的抗菌液,產品的瓶身、充電設備等,就是我們協助設計和製造出來的。

我在緯創已服務超過了 25 年,VCC 成員組成也很多元,除了有像我一樣的資深員工,也有很年輕的同仁,若以 5 年為一個世代,我們團隊成員橫跨了 5 個世代。這樣的多元背景,讓我們很適合擔任橫向串接內外的橋樑,對我個人來說,能具體創造出一些成果,又能多看看外界在做什麼,非常 Enjoy。

提供全方位服務給早期新創

Q: 在與新創合作選擇上,VCC 的目標是哪個階段、哪些領域的新創?

A: VCC 可以為新創提供全方位設計服務 (ODM) 以及外部資源連結 (Outreach Business),簡單說,從創業 Idea 到試產、產量在 10K 以下的早期階段,我們都有很完整的協助。包括產品設計、需求或行銷研究、UI / UX、軟硬體與 CMF (Color、Material、Finishing) 研發、小批量打樣、原型製作、試產等,另外,我們也跟 MIT 等國內外一流的學術單位長期合作,可以協助新創導入前瞻技術;若新創團隊有需要,我們也會輔導產品上架 Kickstarter、嘖嘖等群眾募資平台,或是 Amazon 等電商網站,去學習如何做電商。

新創在不同階段,會有不同的需求,緯創目前規劃由三個單位來協助。CVC (企業創投) 著眼在新創 Funding 上、VCC 聚焦在 Function 面向,另外我們有 IIC (Innovation Integration Center,新創整合中心) 協助新創小規模量產,讓優秀的新創跟我們合作時,要錢有錢、要技術有技術、要生產有生產,當新創正式進入 Scale-up,量產規模大到 BG、BU 願意接時,我們會再協助串接,成為未來更長期的客戶。

我們並沒有太受限與哪些領域的新創合作,回到市場需求上,我會定義為老人與狗、生活品味、ESG 這幾個面向。在銀髮族的照顧和養護、寵物經濟,或是運用 AI、IoT、Sensor、Cloud 等技術的生活應用,以及開發對環境友善產品與商業模式的新創,都是我們很樂意合作的對象。

在與新創合作時,我們是抱著互相尊重、創造雙贏的態度。在緯創的 Logo 中,Wistron 的 i 有特別 Highlight 出來,代表了 Innovation 與 Integrity 兩個重要的精神,我常常很自豪的說,我很幸運可以跟 Innovation 的這個 i 搭得比較深。另一個代表 Integrity 的 i,它應該是我們做為 ODM / OEM 廠商最基本的 DNA,我們從來不會剽竊客戶的 IP,把別人的 IP 拿來做自己產品,與新創的合作,也同樣基於這個精神,我們都有簽雙向 NDA (保密協議) 保護雙方的 IP,也許過往在業界有一些不好的企業,會把合作新創的 IP 拿走,但我待在緯創至今,從沒有聽過我們想要佔別人這種便宜,在外面稍為 Check 或打聽一下,就知道我們從來沒有這樣的紀錄。

Q: 新創在與 VCC 合作,使用由 VCC 提供的服務時,如何收費?

A: 基本上 VCC 是 Cost Center 單位,而非 Profit Center。但我們的目標,是為緯創創造長期的價值,所以本身並不需要背負短期營收或獲利的財務目標,但所有的服務,還是要 Cover 最起碼部門營運的成本。所以基本上,我們不會免費提供服務,但收費、付款方式,甚至生產數量,會提供新創很大的彈性,有很多種方案,因為我們理解創業本身有很高的風險,也各有不同的考量,我們都有配合的方式。

Q: 在你過往與新創合作,或是緯創加速器運作一年半以來,在與創業者的交流過程中,你有哪些個人的觀察或 Takeaway 嗎?

A: 到目前為止,我們都很正面看待與新創的合作。與新創或創業者的合作,不敢說我們是 Mentor,但至少我們可以貢獻一些意見與建議,我覺得這過程更像是互相交流和學習,若從現實面來說,這樣的過程,也的確可以協助緯創接觸到一些具有潛力的未來客戶。

另一個我們之前沒想到的收穫,則是透過 AppWorks 協助招募、篩選後加入緯創加速器的新創,多元性遠超過預期。例如 2022 年 9 月到 12 月的第三屆,我們看到有涵蓋 FinTech、AR、材料科學、IC Design 等領域的新創,透過與他們的交流,不只讓我們對最前緣的產業變化、產品與商業模式開發有更深入了解,也可看到 VCC 以及緯創集團其他參與單位能提供新創實質上的幫助,非常有成就感。

前一陣子,與我們談論過的新創 PackAge+ 配客嘉,就是我非常欣賞的新創之一。台灣電商每年要出貨上億個紙箱作為包材,其中絕大多數只使用一次,非常浪費且不環保,他們運用材料科技推動循環包裝,以回收寶特瓶再製成包裝袋可重複使用 30 次以上,已與台灣多家電商開始合作,並在疫情期間,談下全家便利商店超過 3,000 個門市的回收據點。我一直覺得環保、ESG 理念很棒,但要把它具體變成一個賺錢的生意,真的很不容易,他們願意挑戰這個題目,也做出很不錯的成績。

Q: 對於想要申請緯創加速器,或是想要與 VCC 展開交流合作的新創,你有哪些建議?

A: 我認為最重要是不要自我設限的心態。申請時,不用馬上先去想要跟緯創的 ODM、OEM 事業,或是哪個單位產生連結,再去想要做什麼題目,我反而覺得,內部各單位加入緯創加速器的高階主管們,都很 Humble 與 Open,也不只是我們在幫新創,同時也在創業者與新創身上學習很多,例如,我就不相信我們會比做 IC Design 的新創更懂晶片,所以新創只要符合 AI、物聯網、雲端、資安、教育、醫療這幾個設定的大範圍,我們都很歡迎、都很願意嘗試各種可能性,我相信在加速器期間幾個月的交流中,一定會慢慢找到一些合作的聚焦點。

再來,就是希望創業者的夢想要大,因為做一家企業,如果夢不夠偉大,應該是沒有人會記住。除了偉大的夢想外,也需要有築夢踏實的能力。

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