迎接15週年！AppWorks發掘新興科技獨角獸： 太空深科技AI衛星與室內定位受矚目 DeFi借貸、IP原創娛樂、智慧製造創造國際商機
AppWorks
June 17, 2025
in General

AppWorks Demo Day #30 與Wistron Demo Day #8 今日聯手盛大舉行，來自印尼、新加坡、台灣、日本、韓國等國的24組新創團隊輪番登台發表，不論是曾被視為小眾領域的太空科技、Web3 ，或是已成顯學的AI，都可在場看到大東南亞新創的優異發展。AppWorks Accelerator今年邁入成立第15年，作為亞洲早期網路與科技創投的先行者，其校友生態已邁向成熟，更是展現規模。AppWorks #30(AW#30)團隊中，有高達33%為連續創業者，更有18%的新創已達成年營收破百萬美元的里程碑，顯示出本屆創業者的強韌實力與商業落地能力。

深科技飛入太空！太空邊緣生成式AI實現微型衛星即時影像辨識、應對災害國防任務

來自新加坡的Aliena成立於南洋理工大學，專攻鞋盒大小的微型衛星所使用的MUSIC微型霍爾效應推進器，該系統可用於近地軌道（LEO）以及超低地球軌道（VLEO）軌道部署，功耗低、體積小、即插即用，它已成功搭載多顆衛星執行高解析度影像擷取、氣候監測和通訊調整任務，協助衛星「移動」和「調整」任務。 Aliena公司已籌集總計930萬美元的資金，並於2025年初在新加坡開設了一個佔地8000平方英尺的製造和測試中心，如同亞洲版的星鏈（Starlink），推動該地區乃至全球航太產業的進一步商業化和普及化。

精準解決室內導航痛點！以AI地圖系統打造無需GPS的城市級室內定位新標準 

Mapxus是一家快速成長的室內地圖技術平台，提供全球應用的先進室內地圖服務。其室內可視化系統（AI Indoor GeoSpatial Platform）結合了通用多感測、定位和人工智慧技術，建立了前所未有的三層室內地圖，包括數位地圖、室內定位和360度全景視覺地圖。憑藉著香港港鐵、日本成田機場、川崎重工、三井集團等多家知名企業客戶與多項獎項背書，Mapxus已邁入亞太主要市場，也成功在台北車站試運行試運行無藍芽室內導航，且積極延伸智慧醫療、學校、政府等多項應用，未來技術與市場潛力持續擴張，是國際室內定位導航領域的重要創新者，大大提升消防等室內意外的公共安全層級。

從去中心化借貸到衍生品交易，區塊鏈與Web3開啟金融新邊界

Yei Finance是 Sei (Sei Network, Layer 1 公鏈) 生態中規模最大、成長最快的去中心化借貸協議，具備成為主流 DeFi 核心基礎設施的實力，總鎖倉價值 (Total Value Locked,TVL) 已突破 1.4 億美元，並由美國知名的 Web3 風投公司 Manifold 領投 200 萬美元的種子輪融資。平台建構於高效能的 Sei 區塊鏈，支援存款生息、抵押借貸與閃電貸，結合 Circle CCTP 技術實現多資產跨鏈轉移。自推出以來已吸引近20萬名用戶，累積流入資金高達 7.6 億美元，月營收逼近 70 萬美元，並已和 Binance Wallet、OKX Wallet 等建立策略合作，持續朝成為 DeFi 核心金融基礎設施邁進。

來自美國的Web3團隊Omo AI Labs推出旗艦產品Neko，這是一款專為區塊鏈衍生品交易平台 Hyperliquid生態系打造的DeFi App。其創辦人是巴基斯坦移民第二代，成長於醫生世家，父母皆為從醫者，他卻選擇不走傳統路線，毅然成為家族中的「黑羊」，自學投入Web3領域。Neko不僅整合協議資金庫（Protocol Vault）中Neko Earn收益管理基礎設施，並導入AI自主執行交易與任務，優化使用者的操作效率與決策品質。目前Neko已在Hyperliquid社群中獲取自然擴散與用戶的高度接受，並與HyperEVM開發者緊密合作，商業模式涵蓋多元收益來源，包括：現貨與永續合約手續費、收益管理抽成，以及未來規劃的代理服務商品化收入，是金融衍生商品前沿競爭的新疆界。

從本土電視劇到入選國際影展，台灣原創IP數位轉譯能力打通全球，展現強韌競爭潛力

隨著亞洲影視產業蓬勃發展，來自台灣的創新娛樂科技團隊Toii正在打造一條從影視IP到XR沉浸式互動娛樂的新型價值鏈。作為一款結合XR技術、即時影像辨識與地點導向設計的遊戲化平台，Toii 專注於將知名電視劇與電影轉化為可玩、可參與的互動內容，包括為「台灣霹靂火」、「女鬼橋」、「都市傳說冒險團2 – 分身」等台灣原生影視內容提供全新的商業延伸與國際化想像。Toii平台不僅支援地點式實境互動與真人演出，讓觀眾以玩家身份重返熟悉的劇情場景，也成功推動多部影視改編遊戲登上排行榜冠軍，包含收視率冠軍電視劇與人氣院線電影。Toii更獲選2025年Nvidia Inception Program、2024年日本 XR Golden Award 等多項國際肯定，展現其技術與創意實力。目前Toii正積極與全球內容持有者、影視製作方與出版商合作，提供專案型聯合開發，也開放策略投資與資本合作機會，致力於打造一個以亞洲為起點、面向全球的IP沉浸式娛樂平台。對於台灣原創影視與遊戲產業而言，Toii的模式提供了一種可商業化、可規模化的出口路徑，有望成為新一波文化科技融合的標竿案例。

時尚AI設計工具攜手台灣供應鏈，打造設計到量產的一站式時尚創新平台

台港混血的革命性的時尚設計工具NarrativeAI，致力於解決時尚產業中普遍存在的設計與生產流程瓶頸，全面加速從構想到量產的執行效率。這款平台透過生成式AI技術，能將手繪草圖、文字敘述等創意構想快速轉換為符合生產需求的技術規格文件（Techpack），大幅縮短設計與製造之間的斷層。NarrativeAI更整合全球供應商資料庫與時尚趨勢分析模組，協助設計師預判全球流行動向、即時比對素材與製造選項，成為設計師創作力與精準度的放大器，並與包含Lululemon、Nike等台灣在內的亞洲關鍵供應鏈夥伴展開深度試點合作，預計將於今年底釋出公開Beta 版，並擴展至鞋履、配件與運動服等多品類應用，打造設計師真正的一站式創作與製造平台。

緯創與AppWorks聯手邁入第8屆，深度應用AI推動產業級Deep Tech商用落地

同一天登場的緯創加速器（Wistron Accelerator）則推出5家深科技新創團隊，正運用AI技術重塑各產業的生產效率與營運模式。Barn Owl Technologies推出AI + IoT即時害蟲監測系統，協助農民減少化學使用、提升作物產量；BRICKS則打造無需編碼的互動式數位看板平台，讓餐飲業者能快速部署AI優化的動態點餐介面，提高客單銷售利潤。專注於數據洞察的LargitData提供AI輿情分析與企業智慧決策支援，幫助企業掌握市場趨勢、化解公關風險。軌道科技新創POD Innovation將AI融入先進駕駛輔助系統（ADAS），運用感測器融合與數位孿生模擬，為鐵路營運建立更安全的防線。 來自新加坡的Niyam AI，則以其專為EMS電子製造服務業打造的平台，提供即時設計驗證與風險評估，加速產品開發流程、減少出貨延遲，成為智慧製造升級的重要引擎。

校友帶動產值破163億美元！累積募資總額達66億美元，引領創新經濟穩步登峰 

成立15年以來，從 AppWorks Accelerator畢業的活躍新創已達624家、共計2,029位創業者。AppWorks生態系所有新創加總營業額達163億美元，年增2%；創造27,204個工作機會，年增9%；累積募資金額66億美元，年增5%；總市值達321億美元。本屆Demo Day更有 18% 團隊達年營收100萬美元以上，33% 為連續創業者，區域創業生態邁向成熟階段。

回顧15年歷程，AppWorks董事長暨合夥人林之晨感性地指出：「這是AppWorks第30次舉辦Demo Day，也是專為AppWorks#30團隊搭建、讓他們可以與優質投資人、企業合作夥伴認識，促成後續合作的舞台。15年前，AppWorks Accelerator在金融海嘯後的創業沙漠中啓動，一開始沒人看好，但半年後的AppWorks Demo Day #1，卻能吸引來超過200位投資人與企業代表出席，後續許多AppWorks #1新創也因此獲得資本、商務合作，甚至連我自己，也在出席貴賓中找到今日的合夥人程九如。Demo Day #1的成功給了我們很大信心，過去15年來一屆一屆加速器持續推進、也一次一次Demo Day持續舉辦。沒有奇蹟只有累積，如今AppWorks校友已高達624家活躍新創，全體加總年營業額近4,800億新台幣，而我們也在過程中持續貢獻台灣新創生態，讓當年的沙漠，今日長出茂盛的雨林。本次登場的AW#30團隊，在各自領域都已有優異成績，值得投資人、企業夥伴關注合作，相信這些合作，在未來會產生巨大的效益。」

關於 AppWorks 之初加速器集團

2009 年成立，由「創業者」為「創業者」設立的加速器，以及基於加速器發展的新創社群與創投機構，致力在大東南亞地區協助下世代的創業者，抓住數位革命的成長機會。正如同 Mobile Internet 帶來了巨變，我們相信 ABS – AI、Blockchain 與 Southeast Asia 是今日的三大典範轉移。我們認為，創造一個偉大事業的過程中，團隊是主角，而投資人則是配角，我們專注扮演配角，從種子時期開始支持有想法的團隊，一路陪著他們打造區域級、世界級的偉大企業。AppWorks 目前共提供 Accelerator、Funds 與 School 等三項主要服務。

更多資訊：appworks.tw

關於 AppWorks Accelerator 之初加速器

2010 年成立，每半年嚴選本區域最具潛力的新創團隊進駐。輔導新創團隊尋找 Product-Market Fit、幫助成長期團隊建立 Sustainable / Scalable Business Models。成立以來，從 AppWorks Accelerator 畢業的活躍新創已達 624 家、2,029 位創業者。AppWorks 生態系所有新創加總營業額達 163 億美元，年增 2%；提供就業數 27,204 位，年增 9%；累積募資金額 66 億美元，年增 5%；總市值 321 億美元。其中，AppWorks 生態系已有 146 家活躍新創來自 Web3 領域、128 家致力於 AI 相關發展，以及 195 家主力發展市場位於東南亞，共計分佈於台灣、印尼、新加坡、馬來西亞、越南、菲律賓與香港等七大市場。 

更多資訊：appworks.tw/accelerator

關於 AppWorks Funds 之初創投基金

AppWorks 管理四支創投基金總共募集 3.5 億美元，我們與認同 AppWorks 理念的投資人合作，其中包括在科技製造、金融、媒體、電信等領域領先的企業。我們通常投資種子輪至 C 輪的新創，每年進行 20-30 個投資案，目前為止已投資超過 100 家新創，其中許多在其所處產業或領域中居於領先地位，如：Lalamove、Dapper Labs / Flow、Animoca Brands、91APP、Figment、Carousell、ShopBack、17LIVE、KKday 等。此外，AppWorks Funds 至今已有 6 個 IPO 案 (Uber、隆中網絡、創業家兄弟、松果購物、91APP、17 Live)、6 個 IEO 案，以及 1 隻百角獸 (Hectocorn)、2 隻十角獸 (Decacorn) 與 5 隻獨角獸 (Unicorn) 。

更多資訊：appworks.tw/investments

關於 Aiworks by AppWorks School 之初學校

AppWorks School 成立於 2016 年，致力協助渴望投身數位、網路與電商產業的人才，提供高度銜接業界，實作導向、高效的紮實培訓計畫。成立至今，已培訓超過 1000 位學員，協助多間企業包含台灣大哥大、momo、91APP、KKday、WeMo Scooter 與 KKBOX 等知名新創與科技公司培訓數位人才。現提供軟體培訓營、校園培訓計畫、在職進修、企業代訓等服務。

2024 年轉型啟動Aiworks，旨在通過賦能企業員工，來幫助企業加速 AI 轉型。通過提供 AI 自動化課程，提升人才技能，使其能採用 AI 驅動自動化工作流程，顯著提高工作效率並節省成本。

更多資訊：school.appworks.tw

For general inquiries 

Email: [email protected]

AppWorks 活動聯絡人(含發稿後媒體聯繫): HsiChun Tsai | +886-910-288-244 | mailto: hsichun@appworks.tw

AppWorks Demo Day #30 + Wistron Accelerator #8 團隊一覽 (依字母順序排列)

AppWorks #30 中文簡介 HQ
Aliena 新世代微型衛星的驅動引擎 SG
CarNow 中古車金融整合平台，協助經銷商安全且規模化取得資金 VN
CocoMart 餐廳專屬食材採購平台，簡化 F&B 供應流程 TW
DIVEROUT Tech 潛水活動一站式平台，整合裝備、教練與行程預約 TW
Eazy Digital 保險科技 SaaS 平台，為保經通路提供 CRM 與數位投保工具 TH
JALA 為蝦農提供數據養殖與融資方案，提升養殖效率與資金取得 ID
Mapxus 室內地圖與空間智慧平台，支援快速建模與導航 HK
Merito 深科技專屬投資銀行，協助技術團隊媒合資本與策略夥伴  JP
Mezink AI 工具 SaaS，幫助社群創作者與品牌提升轉單效率 IN
Munshot AI 研究助理平台，協助金融機構自動化投資研究流程 IN
Narrative.ai 為時尚設計師打造 AI 協作平台，連接供應鏈與靈感創作 HK
Omo AI Labs 多代理人協作協議層，提供 AI agent orchestration 能力 SG
Peris.ai 結合 AI 的資安自動化平台，打造資安版 Zapier ID
QuickGen AI 行銷素材一鍵產生工具，加速早期品牌成長 TW
Replyr 利用 AI 將 WhatsApp 轉回即時客服工具 MY
Sentiment 全球首個情緒記憶金庫平台，結合 NFT 儲存個人記憶 KR
Toii Games 結合 XR 與定位技術，打造沉浸式的遊戲體驗 TW
TopSchool.ai AI 輔助學習平台，提升中小學教學效率與學習成效  SG
Yei Finance 跨鏈流動性與借貸基礎設施，支援多鏈資產管理 TW
Wistron #8 中文簡介 HQ
Barn Owl Technologies 推出 AI + IoT 即時害蟲監測系統，協助農民減少化學使用、提升作物產量 US
BRICKS 無需編碼的 PaaS 平台互動式數位看板，實現即時數據整合與多螢幕拼接，提升業務靈活性。 TW
LargitData AI 輿情分析與企業智慧決策支援，幫助企業掌握市場趨勢、化解公關風險 TW
POD Innovation AI 先進駕駛輔助系統 (ADAS)，運用感測器融合與數位孿生模擬，提高鐵路營運安全 TW
Niyam AI 專為 EMS 電子製造服務業打造的平台，提供即時設計驗證與風險評估，加速產品開發流程、減少出貨延遲 SG

AppWorks Turns 15 at Demo Day #30 Singapore, Spotlights Southeast Asia’s Next Gen AI, Web3 & Deep Tech Startups
AppWorks
June 11, 2025
in General

SINGAPORE — As the AppWorks Accelerator program celebrates its 15th anniversary, the 30th Demo Day in Singapore served as a powerful showcase of the transformative trends reshaping Southeast Asia’s startup and venture capital landscape. The roadshow featured 18 pioneering startups spanning sectors from AI to Web3 and Deep Tech, with startups ranging from pre-seed to Series B sharing their vision and traction with an engaged audience of over 70 investors and corporates. 

Founders, partners, and mentors gathered for AppWorks Demo Day #30 in Singapore

Underscoring the dynamic transformation taking place across Southeast Asia’s startup and venture capital ecosystem, several key trends have emerged, including:  

  1. Deep Tech Takes Flight to Orbit

Once niche, fields like space tech, quantum computing, and advanced AI are now central to the region’s startup scene, driven by growing confidence in their potential to solve complex global challenges—from climate monitoring to secure communications.

  • Aliena, a Singapore-based space tech startup, is pioneering the next generation of satellite propulsion with its compact, low-power MUSIC engines designed for small satellites operating in low-Earth-orbit (LEO) and emerging missions at very-low-Earth orbit (VLEO). Co-founded by Dr. Mark Lim and Dr. George-Cristian Potrivitu, Aliena spun out of academic research at NTU with a mission to make agile space mobility more accessible and mission-flexible. Backed by $9.3 million in total funding, including a recent $5.6 million Series A, Aliena’s plug-and-play thrusters are already flying in orbit, enabling high-resolution Earth observation, climate monitoring, and real-time communications. With a new 8,000 sq ft production and testing facility in Singapore, Aliena is scaling up to meet growing global demand—bringing the space frontier closer to Earth, and closer to commercial viability.
  1. Blockchain and Web3 Unlocking New Financial Frontiers

Blockchain technologies and decentralized finance (DeFi) are expanding rapidly in SEA, addressing the needs of the region’s large underbanked population. Startups are innovating in digital payments, microfinancing, and digital asset management to enable cross-border transactions and empower small businesses has received growing investor appeal. 

  • Founded by Ivan Kozlov, Resolv Labs is building a yield-scaling stablecoin that will serve as the underlying infrastructure for robust, delta-neutral yield strategies for both DeFi and TradFi. Their flagship stablecoin, USR, is designed to generate stable returns from crypto markets while effectively minimizing exposure to price volatility through sophisticated hedging. This innovative approach has resonated strongly with investors, propelling Resolv Labs to achieve an impressive Total Value Locked (TVL) of $350 million. Their focus on institutional-grade solutions, naturally extends to potential partnerships and integration with neobanks and other fintech platforms looking to offer innovative, yield-bearing financial products to their customer base.
  1. From Pond to Platform: The Digital Evolution of Farming

With climate pressures, disease threats, and rising global demand putting strain on traditional fish and shrimp farming, a new wave of startups is bringing modern solutions to make seafood production more resilient and future-ready.

  • A standout example is JALA, an Indonesian startup leading the digital transformation of shrimp farming. JALA’s platform equips farmers with real-time data analytics, harvest forecasting, and access to financing, enabling smarter, more resilient shrimp cultivation. With over $60 million in shrimp production monitored, JALA exemplifies how digital tools can unlock productivity and sustainability at scale. 
  1. AI as a Catalyst for Industry Transformation

According to the latest report by the World Economic Forum and ADB, Southeast Asia is not only experiencing accelerated AI adoption but is also building the foundational talent, infrastructure, and policy environment to scale its impact.  At AppWorks Demo Day #30 Singapore, Peris.ai and Omo Protocol were two startups tackling critical infrastructure challenges in cybersecurity and AI.

  • Indonesia-based Peris.ai is democratizing enterprise-grade digital security through hyperautomation, offering modular, plug-and-play tools that allow mid-sized businesses to manage cyber threats with minimal overhead. With an ARR approaching $1.2 million, the company is empowering organizations that traditionally lacked access to dedicated security teams—helping them defend against increasingly complex risks. 
  • Meanwhile, Omo Protocol, founded by Ali Hassan, is building the foundational rails for the next wave of AI development. Their upcoming OMO SDK, enables developers to effortlessly orchestrate and scale autonomous agents capable of direct interaction with smart contracts and other agentic systems. As interest in long-term, self-operating AI tools intensifies, Omo Protocol is emerging as a key enabler for developers and startups to deploy agents that can seamlessly engage with the on-chain environment.

Despite a global slowdown in startup funding, SEA’s ecosystem shows resilience. The AppWorks Demo Day #30 Singapore launched with an impressive lineup of 45 startups founded by 78 individuals representing 20 nationalities. Among them are 26 serial entrepreneurs, underlining the talent diversity and depth of experience in this batch. 

More than 60% of the Demo Day #30 Singapore pitching startups already have a regional footprint, having gained strong traction in their home markets and now actively exploring expansion across Southeast Asia. The Demo Day roadshow — with stops in Taipei, Singapore, and Jakarta — highlights this momentum, showcasing scalable solutions that are being adapted for diverse consumer needs across borders. 

This regional push exemplifies the collaborative energy among founders, investors, and corporates, and is essential for capturing Southeast Asia’s rapidly growing digital consumer base, projected to reach hundreds of millions of users.

Jamie Lin, Chairman & Partner, AppWorks, shares his journey and startup insights at the AppWorks #30 Kick-off

Jamie Lin, Chairman & Partner, AppWorks, said, “We are truly proud to be presenting AW#30 startups to the venture investor community in Singapore and the Greater Southeast Asia.  The AppWorks Demo Day #30 Singapore cohort reflects this region’s maturing ecosystem marked by experienced founders and growing diversity. Approximately 33% of them are serial entrepreneurs, and 18% of AW#30 startups have surpassed US$1 million in annualized revenue, signaling strong execution and market validation with clear paths to profitability. This maturity aligns with current investor preferences for sustainable growth. We are expecting this Demo Day to lead to many quality funding rounds.”

A remarkable 53% of teams are building in AI (24 teams), while 33% are pioneering in Web3 (15 teams). Notably, 69% (31 teams) hail from Southeast Asia, and 13% (6 teams) have established offices in Taiwan. The international reach of the program spans across 13 markets, including Singapore, Hong Kong, Indonesia, Vietnam , Malaysia, and more. 

Across all cohorts, there are now 624 active startups—up 61 year-over-year—comprising 2,029 founders (+183 YoY). These companies have collectively raised $6.6 billion (+5% YoY), are valued at $32.1 billion, and generate annual revenues of $16.3 billion (+2% YoY) while employing 27,204 people globally (+9% YoY). Within the Web3 vertical, the community has grown to 146 active startups (+8 YoY) led by 410 founders (+56 YoY), who have raised $1.3 billion to date. These Web3 startups boast a combined valuation of $11.7 billion and report annual revenues of $600 million (+7.5%).

AppWorks is a leading accelerator and venture capital firm in Greater Southeast Asia, managing $350 million in assets under management (AUM). With an equity-free, no-cost accelerator program, AppWorks uniquely serves founders at all stages of growth across seven key markets—Taiwan, Singapore, Hong Kong, Indonesia, Malaysia, Vietnam, and the Philippines.  With strong sub-communities, frequent alumni engagement, and a sticky network, AppWorks  continues to be a launchpad for ambitious entrepreneurs building transformative businesses across AI, Web3, and beyond. For those interested to join the programme, please visit https://appworks.tw/accelerator/.  

Below is the full list of bold and brilliant pitching teams from the AppWorks Demo Day #30 Singapore cohort – a true powerhouse of innovation, vision, and impact.  

TEAM NAME HQ  ONE-LINER OF THEIR PRODUCT / SERVICE
Aliena Mark Lim SG Next generation satellite engines for small satellite missions
CarNow Duong Nguyen VN Multi-functional platform for used automotives, enabling safe and scalable financing for dealers
CocoMart Moses Chang TW An F&B supply platform simplifying restaurant procurement
Eazy Digital Harprem Doowa TH Salesforce for global insurers and brokers
HIO Jenny Bui VN An innovative service blending AI and personalized care for the elderly
JALA Liris Maduningtyas ID Technology and financing solutions for shrimp farming
Merito Brandon Possin JP Deep tech investment bank
Mezink Tarun Valecha SG AI-led service-as-software to help brands generate demand via social media
Munshot Chiraag Kapil IN An AI agent platform for research automation and monitoring for hedge funds and family offices
NarrativeAI Teddy Yip HK A vertical AI agent empowering fashion designers to connect with suppliers and bring their visions to life
Omo Protocol Ali Hassan SG Multi-agent orchestration protocol
Peris.ai David Samuel ID Zapier for cybersecurity with agentic AI tools
Resolv Labs Ivan Kozlov VG Delta-neutral stablecoin
Sentimint Yuri Choi SG The world’s first emotional memory vault on-chain
Toii Games Allen YU TW Toii Games creates an immersive gaming experience with XR and location based technology
TopSchool.ai Joseph Telfer SG Personalized learning AI agent platform for schools, improving performance & saving costs
Tova Pranay Periwal HK A private members’ club designed for curated social connections
Vulcan Augmetics Rafael Masters SG Revolutionizing human-machine interaction with AI-powered wearable sensor systems

 

About AppWorks

Founded in 2009, AppWorks is Greater Southeast Asia’s leading startup accelerator and venture capital firm, supporting over 600 active startups and 2,000 founders. Its focus on AI, blockchain, and Southeast Asia (“ABS”) positions it at the forefront of the region’s digital transformation, providing founders with capital, mentorship, and a vibrant community. For more information, visit appworks.tw.

Leveling Up: Michelle Lin Promoted to Associate at AppWorks Southeast Asia Arm
Sophie Chiu
May 8, 2025
in General Team

Jamie (Partner) and Michelle (Associate) pictured at AppWorks office (Photo: AppWorks)

(漢文在下)

We are thrilled to share some exciting news—Michelle Lin from the AppWorks Southeast Asia Arm has been promoted to Associate!

Before joining AppWorks, Michelle spent five years at Deloitte, specializing in M&A and financial advisory. In addition, she comes from an entrepreneurial family—her father transitioned the business from electronic manufacturing to the medical device industry, ultimately leading the company to success. With both personal and professional exposure to the world of entrepreneurship, Michelle has demonstrated a deep passion for supporting founders over the past two years, providing invaluable insights to those within the AppWorks ecosystem. Additionally, she regularly shares her analysis of public companies’ business models on LinkedIn, helping early-stage founders broaden their perspectives and learn from diverse case studies.

Notably, over the past two years, Michelle has not only deepened her expertise in VC investment but also embraced a brand-new role in life—becoming a first-time mother! Balancing work and family is no easy feat, yet she continues to support founders with dedication and professionalism, demonstrating remarkable adaptability and leadership.

As an Associate, Michelle will take on even greater responsibilities—she will continue supporting founders in Greater Southeast Asia, oversee the CEO Club designed for growth-stage startups in Indonesia, and focus on investing in emerging tech startups across the region. Additionally, she will mentor two newly joined analysts in the Southeast Asia Arm, contributing to the team’s continued growth.

Congratulations, Michelle! Your passion has always inspired us, and we look forward to seeing you create even more value for founders in this new role!

分享 AppWorks 夥伴晉升喜訊

本週迎來立夏的第一縷暖風，我們很高興與大家分享 AppWorks 團隊的新年新氣象 ——AppWorks 東南亞團隊的 Michelle Lin 林亭㚬 正式晉升為投資經理！

Michelle 在加入 AppWorks 之前，曾於德勤累積五年併購與財務顧問經驗，此外，她本身也來自一個創業者的家庭，林爸爸從電腦代工轉型到醫材一路創建事業成功。由於這樣的人生與專業背景， Michelle 在過去兩年間展現了對創業者的莫大熱情，為 AppWorks 生態系中的創業者提供了許多深具價值的建議。此外，她也透過 LinkedIn 定期分享對上市公司的商業模式分析，幫助早期創業者拓展視野，從不同案例中汲取經驗。

值得一提的是，在這兩年間，Michelle 不僅持續在投資領域深耕，還迎來了人生中另一個重要角色——成為一位新手媽媽！ 在職場與家庭之間取得平衡並不容易，而她以極大的熱情與專業，持續為創業者提供支持，展現了強韌的適應力與領導力。

晉升為投資經理後，Michelle 將承擔更多重要職責——她將持續服務東南亞市場的創業者，並負責經營專為印尼成長期新創打造的 CEO Club，同時投入更多精力於大東南亞地區的科技新創投資。此外，她也將指導東南亞團隊新加入的兩位分析師，協助團隊進一步發展。

恭喜 Michelle！ 我們深受你一直以來的熱情所感染，也期待你在新角色中持續為創業者帶來更多價值！

Sophie (Principal, Southeast Asia Arm), Michelle (Associate), and Jamie (Partner) pictured at AppWorks office (Photo: AppWorks)

Why We Invested: Ernest Layman, Co-founder and CEO of Rekosistem
Nathan Alexander
May 6, 2025
in Investments

Growing up in Indonesia, I understand the pressing importance of waste management as it preserves the environment and greatly affects everyone’s quality of life. Indonesia’s waste management situation has never been great, but as people’s consumption and hence our waste output grows with the economy in recent years, the situation has deteriorated to an alarming state. There’s more trash on the streets, rising cases of illegal dumping, illegal trash burning, and fields of plastic waste floating in our ocean. 

It’s often said that the health of our planet determines our collective future. In Indonesia, an emerging economy with the world’s 4th most populated, environmental preservation is far from guaranteed. Rapid population growth and societal behavior have exacerbated plastic pollution and illegal dumping in the country, problems that not only threaten Indonesia’s ecological integrity but also undermine its long-term economic prospects. Today, the archipelago stands among the world’s largest contributors of oceanic plastic waste, underscoring the urgency of scalable solutions that can help reverse the mounting climate crisis.

That’s why we are incredibly excited to back Ernest Layman, Co-Founder and CEO of Rekosistem, a pioneering waste management startup determined to close the loop on Indonesia’s environmental challenges. Ernest started Rekosistem to address the nation’s climate challenges head-on, creating a circular economy and empowering communities to turn waste into opportunity.

Why We Invested: Ernest Layman, Co-Founder & CEO of Rekosistem

Each year, Indonesia generates more than 65.8 million tonnes of waste and more than 7.8 million tonnes of plastic waste. Based on the World Bank data, 61% of waste in the country is left unattended. Only 24% is managed through formal collection where most of the waste collected ends up in open burning, land dumping, or leakage, resulting in poor air quality, flooding, and health problems. With only 10-15% of Indonesia’s waste being recycled, there is a lot of room for improvement, and therein lies the opportunity to make a difference.

With the industry plagued by fragmentation and mostly consisting of micro, small, and informal players, the government experiences significant challenges in combatting environmental waste. The government needs partners who can integrate the entire waste management process, and make the industry more efficient.

This is where Rekosistem steps in and we are very excited to support Ernest Layman and Joshua Valentino in their efforts to address this issue. Launched in 2021, Rekosistem is transforming the Indonesian waste management landscape by streamlining the supply chain and aggregating waste collection from multiple sources. By optimizing these processes, the company ensures proper waste management and efficiently sorts recoverable materials for further processing. This approach not only boosts the recovery rate but also significantly reduces the volume of waste sent to landfills to be burned, contributing to a more sustainable future.

Ernest has long desired to create a business that is impactful, sustainable, and economically viable. Back in 2016, he realized that waste management was a pressing issue and formed a deep resolve to address it at scale to make a difference in the lives of Indonesians. Driven by this conviction, he then started a small waste management business in 2018 with his partner, Joshua. Both of them spent around five years (since 2016) respectively trying to tackle the waste management market in Indonesia before launched Rekosistem in 2021. Together, they dedicated themselves to achieve this shared mission—to create a cleaner and more sustainable future for the next generation.

Ernest Layman: Where steadfast persistence meets relentless commitment for growth

We look for founders who demonstrate both technical skills and an unwavering capacity to persevere—precisely the qualities that define Ernest’s journey.

A childhood shaped by adversity
Growing up in an ordinary Indonesian household, Ernest was only six years old when he already experienced the hardships of life, seeing people around him struggle. He naturally developed a strong determination to be successful and provide for the people he holds dear. He grew up as a child who was self-dependent, even consciously taking care of his own health to avoid medical costs that could burden his parents. This early self-reliance and sense of responsibility became hallmarks of his character, guiding him through the challenges that laid ahead.

Early passion for competition and growth
Ernest’s drive to excel wasn’t limited to academics, where he consistently earned top marks. He was also a formidable DOTA gamer, ranking 2nd in a national tournament and even placing 8th in a world championship qualifier. This ambition to perform at a global standard reflected a hunger for success that extended well beyond the classroom and the gaming arena.

Relentless pursuit of self-improvement
Recognizing a personal weakness in public speaking, Ernest immersed himself in over 10 student organizations during college and successfully campaigned to become chairman of his faculty’s student board and vice president of his university student board the year after. Since then, Ernest has grown into a confident speaker, capable of inspiring and engaging crowds. Beyond public speaking, his active involvement in various student organizations also honed his decision-making abilities. This blend of determination and can-do spirit would later guide his entrepreneurial decisions and leadership style.

A solid professional who bet his life savings on Rekosistem
Upon graduating, Ernest joined Procter & Gamble, quickly ascending to Marketing Senior Manager in just two years. Yet, he yearned to solve real-world problems with lasting social and environmental impact. When he discovered the devastating realities of plastic pollution and the untapped potential in Indonesia’s waste sector, he felt a call to take real action. In 2019, he left the corporate ladder at P&G to build Rekosistem—investing all of his savings to a point where he had to carefully manage his monthly expenses just to dive in and work hands-on in the waste business. This level of personal risk taken exemplifies Ernest’s determination and unwavering conviction in achieving his mission.

Immersing himself in the day-to-day operations
For three months, Ernest personally drove trucks, sorted waste, and worked closely with street-level waste aggregators to better understand their daily challenges in parallel with creating the system. For one year, Ernest lives at the office to always be hands-on with day-to-day progress. This approach enabled him to pinpoint the key supply chain bottlenecks—such as inconsistent volumes, inadequate equipment, and a lack of trust—that were limiting aggregators’ ability to scale. This underscores his dedication in sacrificing personal comfort in pursuit of meaningful change and advancing the business to the next level.

We understand that Indonesia’s waste management market remains very traditional and fragmented,  and it will be a huge endeavor for anyone who wants to tackle the space, let alone to use technology to disrupt  this stiff industry. Yet that also means a huge opportunity if a founder can apply the right set of solutions with a solid business model. 

In a space that is this fragmented and underpenetrated, a founder’s determination and ability to lead and execute is the key to success. We recognized these traits in Ernest. We are thrilled to invest in Rekosistem to support Ernest and his team on their journey to transform the Indonesian waste management industry to create a better and more sustainable future for my home country and this earth that all of us call home.

The AppWorks Accelerator FAQ (for founders applying to AW#31)
AppWorks
April 28, 2025
in Accelerator

 

Founded in 2010 by Jamie Lin, AppWorks Accelerator is a startup community created by founders, for founders. 

Every six months, we welcome founders who are building on the edge of what’s possible – those pushing the boundaries of technology and creating what the world has yet to imagine. We equip them with the necessary resources, mentorship, and community to turn bold visions into lasting impact.  

We know there are many considerations for founders when applying to an accelerator. That’s why we’ve created an FAQ page to help you decide whether or not AppWorks is the right fit for your startup. 

As of April 2025, AppWorks Accelerator #31 is open for applications. You can find important information about the Accelerator experience on our main page.

The FAQs

1. What do I need to know before joining the accelerator? What is AppWorks doing to help founders make the most out of the accelerator?

We understand the unique needs and aspirations for founders, and we’re committed to providing an experience that’s both flexible and comprehensive: 

a. Tailored Events for Founders: No two founder journeys are alike — whether you’re just getting started, actively scaling, based in Taiwan, or operating from anywhere in the world, we’ve designed a flexible accelerator that blends online and offline experiences. You’ll have access to the resources, mentorship, and connections that best fit your unique path, ensuring that you get what you need, when and where you need it.

b. Regional Presence in Greater Southeast Asia: Beyond flexibility, what sets AppWorks apart is our deeply rooted presence across Greater Southeast Asia. With an active network spanning Taiwan, Singapore, Hong Kong, Indonesia, Vietnam, Malaysia, and the Philippines, we open doors to regional insights, cross-border opportunities, and partnerships that accelerate your growth beyond your home market.

c. Unlocking Taiwan’s Potential: Taiwan is home to a dynamic tech ecosystem, and we proudly maintain the most extensive network in the region. We invite you to consider Taiwan as a market ripe with valuable opportunities, a wealth of digital talents, reliable manufacturing partners, and a robust supply chain. The resources available here are vast and can significantly boost your venture.

We encourage founders to join us for in-person activities whenever possible, as face-to-face interactions with our network in Taiwan and across Southeast Asia can unlock deeper relationships, richer insights, and new opportunities that virtual meetings simply can’t replicate.

Your success is at the heart of what we do. We can’t wait to embark on this journey with you.

2. I already raised a Series A / I’m profitable, is AppWorks right for me?

The short answer is, yes!

The long answer is, reaching a funding goal can be a cause for celebration, but it’s also a relatively minor part of the founder journey. So many more things can go right or wrong, even with a funding round. There are many other facets to overcome and master. When we admit founders into the program, it is because we have carefully considered what they need as a founder, and how our resources and network across Taiwan and Southeast Asia can help them grow. 

Joel Leong and Henry Chan at ShopBack had already built a business model and received seed funding in 2015 when they launched in Singapore before they came to AppWorks Accelerator #13 in 2016. 

Joel told us that had the team known about Taiwan’s massive US$20 billion GMV e-commerce market and all the region-wide technical and tactical innovations that it would eventually yield, they would have made the move to Taiwan much sooner. Taiwan has since become one of ShopBack’s biggest markets and R&D centers. It demonstrates that funding rounds and business model maturity do not limit founders in learning something new. 

As long as you think that AppWorks can help you in the entrepreneurial learning process, you should apply. 

3. How can AppWorks Accelerator help a web3 founder?

As our web3 ecosystem has grown, so have opportunities for partnerships, knowledge exchange, and founder-to-founder support—all critical for entrepreneurs building in this network and community-driven space:

a. Grow with one of the largest web3 founder communities.

The web3 ecosystem within the AppWorks community now consists of 155 active teams with a total of 320 founders. These extraordinary web3 startups include Pendle (AW#20), a DeFi yield-trading protocol that enables the tokenization and trading of future yield; Resolv (AW#30), which issues stablecoins through a ‘Delta Neutral’ strategy and an over-collateralization mechanism; and Event Horizon (AW#28), a meta-governance platform that mobilizes community assets to influence external governance proposals. 

As one of the region’s most active web3 founder communities, we help you navigate every stage of the journey—through mentor and founder intros, ecosystem resources, and peer learning on tokenomics, DAOs, and community-building.

b. Stay ahead of the game to capture the pulse of the ecosystem and access premium development partners

In web3, startups developing on the right public chain and working with the right partners can help create synergies and accelerate scaling. Within the AppWorks web3 ecosystem, almost 95 teams have developed their products on various public chains, including Ethereum, Solana, Arbitrum, Sui, TON, Base and so on. If you are a founder building on these chains, you can always find a connection within our ecosystem.

AppWorks stays closely connected with leading L1 and L2 ecosystems to ensure founders can tap into the best resources available. We also partner with key platforms and tools, such as GSR, Alchemy, Quantstamp, and Chainlink to make sure that blockchain startups gain the support they need to grow and thrive.

4. How does AppWorks Accelerator help founders enter new markets?

Since 2010, AppWorks has made close connections within founder communities and throughout the venture capital ecosystem. When startup teams decide to enter a new market, we can quickly help them learn from local partners to tap into key resources and business models that are specifically tailored to different regions.

The AppWorks community includes our accelerator alumni, international startup teams that have received investment from AppWorks Venture Funds, and mentors with insight and experience. Our community of founders are based all around the world, and many are from our key markets in Southeast Asia, such as Singapore, Indonesia, Vietnam, the Philippines, and Malaysia. For example, Qoala is an InsurTech startup headquartered in Indonesia that has expanded to Thailand and Malaysia, and the CEO/Co-founder, Harshet, is a seasoned founder and has been an active mentor to many startups in the region. Carousell is a startup from Singapore, which focuses on C2C e-commerce and has expanded into eight markets across Asia. The CEO/Co-founder, Siu Rui, has always been the go-to person for fellow founders who are exploring regional expansion.  

In addition to our community, AppWorks has also established strategic relations with more than 25 venture capital funds across Southeast Asia and the web3 industry. Our partners include ACV, Golden Gate Ventures, Openspace Ventures, Ascend Vietnam Ventures, Foxmont Capital, Figment Capital、Reforge VC, and others. When entering a new market, we can easily cooperate with investors from different regions to help you quickly gain access to local connections and business opportunities.

5. What does AppWorks look for in applications?

When AppWorks reviews applications submitted by founders, we pay special attention to a founder’s north star. Some questions that might help you think about whether AppWorks is a good fit for you: 

  • Why did you launch your startup?
  • What problem do you want to solve and why?
  • What do you believe fundamentally needs to exist in this world that doesn’t already?
  • What kind of future do you want to create and how will you get there?
  • What have you already done to demonstrate your commitment to tackling this problem?

AppWorks Accelerator’s online application covers about 30 topics related to team background, product/service, business model, market analysis, and more. It is very detailed and requires time to complete. It also includes a required one-minute self-intro from the founder (CEO) for us to know you better.

6. Does AppWorks Accelerator cost anything?

No. AppWorks Accelerator has always been free for founders. We will not charge rent or service fees, nor will we require any form of compensation, such as sweat equity, tokens, options, revenue, or profit-sharing. Our exclusive mission is to help founders. 

7. We need funding now, can we get an investment by joining AppWorks?

The short answer is you will have much better access to us than non-AppWorks accelerated teams. We will discuss with you and help you figure out at this stage of your startup’s journey if capital can give your startup a significant edge and/or take it to the next level, or if there are other more burning issues, e.g., achieving stronger product-market fit, figuring out a working go-to-market strategy, recruiting a solid co-founder, etc. 

Any AppWorks founder is welcome to start a discussion with us on fundraising anytime. We will do our best to advise and support you with US$350 million in total fund size behind us. 

8. My service (or product) has not yet started to make money. Can I still apply?

Of course! There probably isn’t a better time to learn in an accelerator than as a founder just starting out. This period before a founder has built a startup into a scalable business model with Product-Market Fit is called the “seed stage.” During this period, founders always need more than funding; they need a variety of entrepreneurial-related insights, inspiration from other founders, and room for trial and error. AppWorks Accelerator, with over 15 years of experience, was built to provide these lessons and more. 

9. I’m planning to expand my business into Taiwan, however, since I am not a Taiwanese citizen, can you help me obtain a proper visa?

International founders admitted to AppWorks Accelerator, according to your qualifications and needs, AppWorks can help with your application for the Gold Card, or Entrepreneur Visa in Taiwan. This enables founders from overseas to concentrate on work in Taiwan without traveling abroad to sort out troublesome visa issues. We can offer guidance on this process.  

10. Do I have to set up a company to join AppWorks Accelerator?

Not necessarily, but we recommend founders to set up an office when entering a new market, especially those of you that are B2B facing. This may enable you to build relationships with business partners and make negotiating commercial agreements smoother in the future.

For the founders who are planning to land in Taiwan, AppWorks has professional accounting and legal specialists who can assist in managing the necessary procedures, making the process of setting up much easier and more efficient.

11. What is the difference between applying during the first round vs. the final round? 

The application period is split into two intakes, with interviews and admissions facilitated on a rolling basis. Based on past experience, teams that submit their application earlier tend to have a higher chance of being admitted and are also immediately granted access to all the resources that AppWorks Accelerator has to offer.

12. I have previously applied to AppWorks and have been rejected, can I apply again? Will it affect the chances of admission?

Reapplying represents the determination of the founder and is a positive signal for us. Therefore, we will re-evaluate all aspects, not only for the growth of the founder but also for the progress of the company. In the past, some entrepreneurs applied 2-3 times before being selected. In some cases, after unsuccessful applications, they continued to explore and eventually achieved more user growth and deeper insights. In other cases, they honestly faced the fact that there was no Product-Market Fit (PMF), changed their topic, found a scalable business model, and reapplied. These entrepreneurs have performed well after graduating from the accelerator.

We hope the above FAQ can help clarify your questions about AppWorks Accelerator. If you seek more clarity, please write to: [email protected], and we will try to answer your questions.

If you’re a founder creating what the world doesn’t know it needs yet, you’ve come to the right place! Applications for AppWorks Accelerator #31 will be open until June 30, 2025.