Three Things About Michelle Lin

Michelle Lin, Analyst (林亭㚬 / 分析師)

Michelle is an Analyst covering AppWorks Accelerator and investments. Before joining the team, she worked as an assistant manager at Deloitte Financial Advisory, where she helped close various cross-border and local M&A deals successfully. Michelle graduated with a Bachelor’s in Accounting from National Taiwan University and received a Master of Management Studies Degree from Duke University. During college, she was the minister of student activities at College of Management Student Association and was active at the Pop Dance Club. Outside the office, she enjoys hiking amongst many outdoor activities, as well as exploring new things in life.

#EnglishBelow

加入 AppWorks 前? 

在加入 AppWorks 前,我在 Deloitte Financial Adviosory 服務了 4 年多,參與過跨國製藥企業的組織重組及合資案、各式金融業併購案、台灣上市櫃企業公開收購案等。

我擔任過買方和賣方顧問,學習以不同的視角分析併購策略、設計條款、協助客戶進行談判。例如站在賣方的立場,希望打拚十幾年的事業能以合理價格出售;又或是站在買方的立場平衡風險和效益,協助管理階層說服董事會進行收購。日常工作就是分析財報、進入充滿上百個檔案的 Data Room 裡,大海撈針找到對交易案有影響的資訊,在買賣雙方間搭起有效的溝通橋樑,進一步促成交易。

為什麼想加入新創圈?

我的父親是位創業者,小時候的記憶就是每天放學和寒暑假都會到他的公司,那裡有許多和藹可親的叔叔阿姨們。和大多數的創業者一樣,父親總是很忙碌,思考著如何運用手上的資源打造更好的產品,常常週末一通電話就馬上出發到南部找供應商、客戶,和研發部門開會。創業的途中,父親從電腦代工,Pivot 到醫療器材研發、設計及製造,公司也從員工不到 10 人成長到 80 人。其中經歷了在 SARS 疫情期間,父親因為將公司的額溫槍,優先提供給台灣政府導致被國外客戶控吿 (但也同時成為抗疫英雄),直到後來上市出場。長大後父親與我分享當初創業的過程,他說一直以來其實沒有想太多,只想把當下的事情做對,確保員工和家人能好好生活。

父親這份創業過程的酸甜苦辣陪伴著我長大。我了解到創業者的辛苦和孤獨,更敬佩創業者骨子裡想把事情做對做好的精神,因此萌生加入新創圈的念頭,希望自己不論是透過加速器或是創投投資,陪伴創業者,參與眾多不凡的故事。

除了工作,我還會?

我很喜歡爬山!很多人問為什麼?除了想要親自體會台灣這片土地的美,爬山更讓我真正認識自己、陪伴自己,激發更多的潛能。

登山的過程很累,3 至 4 天的旅途,要背著 11~15 公斤的裝備,一天步行約 8~10 公里,向上爬升 1,000 公尺左右,翻過一個個山頭才會抵達目的地。路途中會遇到各式的地形,有樹林、碎石坡、斷崖、溪流等,有時崎嶇有時溼滑,每一段陡坡、緩坡、高繞各有特色,這些未知和驚喜激發了我的好奇心,讓我努力想走下去,揭曉接下來每一段路會有的驚喜。

也正因為如此長途跋涉,才有機會和自己對話。

登山過程有時候也會遇到難以克服的困難,例如高山症發作,頭痛欲裂想吐;遇到冰雹來不及穿雨衣、搭營導致全部衣物濕掉,入夜全身冷得瑟瑟發抖;下山沒有調整好步伐,高估自己的肌力導致膝蓋急性發炎積水,深怕無法即時下山。面對每一次困難,我學習不斷與自我對話,提醒自己做得到,冷靜思考怎麼做更好,擬定配套措施,並時時調整呼吸、調整步伐,專注於自己的身體去克服困難。面臨挑戰的過程中,相信自己及面對自己才能超越自己。

對我來說,不管登山、創業或著人生,漫漫旅途中,充滿著許多艱鉅和意想不到的挑戰,但我期許自己像眾多創業者一樣,披荊斬棘,只為在黑暗中找尋迎接山頂日出的路。我是 Michelle,歡迎創業者們來和我聊聊,希望過去擔任財務顧問的專業能幫助到你,有機會也一起爬山吧!

Before AppWorks?

Before joining AppWorks, I worked at Deloitte Financial Advisory for over four years. I helped close various deals, including cross-border reorganization and joint venture deals for pharmaceutical companies, financial institution M&A, and tender offers of publicly-listed companies.  

Having the chance to work both buy-side and sell-side on different deals, I learned to analyze things from different perspectives, design terms/ea, and assist clients in negotiation. Sometimes I put myself in the seller’s shoes, persuading the buyer to purchase the company at a reasonable price as the seller put all their efforts into the business for decades. Sometimes I switch roles to think from the buyers’ perspective, balancing risks and benefits and assisting management in persuading the board to proceed with an acquisition. 

My daily tasks included analyzing financial reports and searching for every piece of information that might have an impact on the transaction in the data room across hundreds of files. I helped build an effective bridge between the buyer and seller and further facilitate the transaction.

Why did I join the startup community?

My father was an entrepreneur. When I was little, I stayed at my father’s company office most of the time. I witnessed all the ups and downs my father had gone through as a founder. I realized how difficult it is to establish a successful company and be responsible to the employees.

Like most founders, my father was always thinking about how to optimize resources on hand to build better products. Pivoting from computer ODM/OEM company to a biotech company that designed and manufactured ear thermometers, he started his company with less than 10 employees and grew further to around 80 employees. Luckily, he exited the company through IPO and further M&A. Things did not always come smoothly. I clearly remember during the SARS epidemic, my father provided forehead thermometers to the Taiwanese government prior to foreign clients, causing him to be sued by foreign clients (but also became an anti-epidemic hero). He also overcame the departure of a partner who collaborated with him  over years with trust but later made false accusations against my father in court. 

As I grew up, my father was more willing to share his founder journey. He said that he never overthinks. He just wanted to do the right things and ensure that employees and their families could live a good life.

I admire the spirit of entrepreneurs who always want to do the right thing and build great products. Encouraged by my father’s story, I wanted to pursue a career in the startup community. Either through accelerator or venture capital investment, I hope to accompany founders and join their extraordinary founder journey to inspire myself and others. 

What do you do outside of work?

I love hiking, especially hiking in Baiyue! Many people ask me why I like hiking in Baiyue so much. Besides enjoying experiencing the beauty of Taiwan in-person, hiking in Baiyue allows me to know myself better in terms of my weaknesses and potential. The long journey also allows me to talk and listen to myself and reflect.

Hiking in Baiyue can be very tiring. During the three to four day journey, we usually carried 11-to-15 kilograms of backpacking equipment, walked around 8-to-10 kilometers a day, and covered around 1,000m of elevation. We hiked hills over hills to reach the destination. 

During the trek, I often encounter various terrain, such as wooded areas, scree slopes, cliffs, and streams. Sometimes the path is rugged and sometimes it’s slippery. Each steep slope, gentle slope, and winding road has its own characteristics. I am drawn to these unknowns and always curious about what kind of surprises it will reveal ahead. This keeps me moving on no matter how tiring it is. 

There are insurmountable challenges during the trek as well such as experiencing altitude sickness with symptoms of headaches and nausea; unable to put on my raincoat and set up the tent in time before all of my clothes got wet amid a downpour. My whole body was shivering at night; I had failed to adjust my pace and overestimated my stamina, causing an acute inflammation and fluid in my knee. I was so scared that I could not get back to the trailhead in time. 

When facing these obstacles, I keep talking to myself, remind myself that I can do it, stay calm and think about alternative plans and how to make it better. I adjust my breathing and pace from time to time, and focus on my body to overcome challenges. I believe that facing yourself and believing in yourself is the true factor to surpass yourself through adversity. 

For me, either entrepreneurship or life is somewhat like trekking in that it is full of unexpected challenges. Along this journey, we are all searching in the dark to embrace the sunrise at the peak. I’m Michelle. Welcome to chat with me and if you have the chance, let’s go trekking together~

專訪黃朝秋 (BSOS 執行長),用 Blockchain 連結實體資產,將是另一個更寬廣的賽道

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」。

2018 年成立的 BSOS 灣谷科技,是台灣在區塊鏈這個典範轉移中的早期參與者之一,成員來自金融及網路產業菁英,專攻供應鏈 FinTech。BSOS 透過提供 Web3 的技術與解決方案,活化供應商與企業客戶間的應收帳款,為供應商提升營運資金的時效和彈性,促進實體資產的數位化及價值流通效率,為產業供應鏈賦能。BSOS 在 2021 年進入企業以太坊聯盟 (EEA) 規格制定工作小組,與全球頂尖開發者共同制定企業區塊鏈標準,也獲得 CB Insights 旗下區塊鏈產業分析平台 Blockdata 評選為「全球區塊鏈 35 家潛力公司」,並在同年申請加入 Wistorn Accelerator 緯創加速器,成為第一屆的校友。

BSOS 是共同創辦人暨執行長 Daniel 黃朝秋再度創業。在創立 BSOS 之前,Daniel 曾擔任 Cheetah Mobile、ASUS 及電商集團軟體產品負責人,並在 2015 年創立 AI 語音通訊新創  OneTalk,後來獲得全球最大第三方輸入法公司 Kika Tech 收購。對於他致力於用區塊鏈技術,顛覆供應鏈 FinTech 的創業旅程,以及參與緯創加速器的收穫,並對往後創業帶來哪些價值,AppWorks 特別採訪 Daniel,將他一路上的心得分享給創業者,以下是重點整理:

Q: 在區塊鏈這個領域,最吸引、最能驅動你創業的原因是什麼?

A: BSOS 是 2018 年成立的,在區塊鏈這個領域,我們創業的時間不敢說很早,但我覺得也不算晚。BSOS 是我第二次創業,在此之前的 2008 到 2018 年約莫十年中,包含創業或是更早的工作經驗,我都在 Internet 領域的相關公司,這段時期,剛好完整經歷了 Mobile Internet 起飛,在 2012 年整體產業進入流量紅利期,然後逐漸紅利消失、邁入成熟這一段週期。2018 年決定再度創業時,我最深刻的感受,就是我們過去那種 Internet 車庫創業的時代已經過去了。

倒也不是說 Mobile Internet 完全沒有機會,而是這個產業太集中化了,它變成是一個資本驅動較多,然後更集中少數科技巨頭的產業。對於沒有太多資源,那種還沒有辦公室,只能先在車庫裡、靠幾台電腦創業的新創,機會已經沒有那麼多。過去做出個小 App,只要有需求、用戶參與度夠高,基本上有許多流量自然成長的方法,很容易做成一個 Business,但這個時機已經過去了。

所以,當我在 2018 年決定再度創業時,就是要去找一個科技巨頭不是那麼容易切入的領域,而區塊鏈、Web3 是當時不錯的選擇。事後也證明,從 2018 年到現在,多數科技巨頭也都想切入區塊鏈、Web3,也不是說真的不行,但在這個領域,這些科技巨頭就失去了過往的統治能力。

另一方面,我前一個創業被併購後,有一段時間在做天使投資人,評估過一些新創的投資機會。那時,就已經看到區塊鏈這個剛冒出頭的典範轉移,開始從哲學面、機制面、技術面去深入研究,那時感覺它不是漸進式、而是跳躍式的創新,在我看來,這才是新一代新創的紅利和機會,所以當時沒有第二個答案,就是在區塊鏈領域再度創業,如果再給我一次機會回到那個時候,我還是會選區塊鏈。

Q: 從 2018 年到現在,雖然市場與大環境有起有落,但整體來說,區塊鏈發展得越來越蓬勃,有越來越多機會浮現,為什麼會選擇專注在供應鏈 FinTech 這個賽道?

A: 我們會把自己的定位再放寬一點,就是要用區塊鏈技術,去解放實體世界資產的流通性,打開我們官網的第一句話,就是「Liquidize Real-World Assets with Blockchain」。區塊鏈最核心的應用,就是拿來做價值交換,不管是比特幣、以太幣或是其他區塊鏈資產,過去幾年來,已經充分驗證了價值交換這件事情,但除了這些,還有更大的一塊是 Real Assets,它在傳統上很多價值是不容易被表彰、創造流通性。

每一個供應鏈上,就有很多這樣的資產,過去的流通性,是沒辦法像區塊鏈一樣,用一套帳本去跟全世界流通,我們希望解決這樣的問題,因為它的量體更大。過去近兩年來,整體加密貨幣資產的市值,在 1.5 到 3 兆美元之間變動,而現在全球光是卡在供應鏈的應收帳款就有 40 兆美元,這還光只是一個 Real Assets 的類別,目前在這個世界上,絕大部分的財富價值,都還鎖在實體中,一部分在 Web1 或 Web2 上,只有極少的比例在 Web3 上流通,一旦這個水龍頭打開,會產生更大的影響,我們預期未來如果能將這些資產映射到 Web3 上去交換、產生流通性,對真實世界的貢獻與價值將非常巨大。

Web3 不是企業數位轉型

Q: 既然稱作供應鏈,某種程度上,它就是一個自成一格、相對封閉的體系,每一個都有很深的 Domain Know-how,如何說服那些擁有自己供應鏈體系的大企業,開始擁抱 Blockchain?大企業為什麼需要用一個新創的 Solution?

A: 對!這也是我們過去四年來,一直在這邊走得跌跌撞撞的原因。後來我們有一個體悟:Web3 的打法,絕對不能用企業數位轉型這個角度來思考,那樣只是把 Web3 的技術,強行套到 Web2 世界的邏輯裡,做到後來還是 Web2 的格局。如果只是要把資訊數位化,其實不需要用到區塊鏈,這樣企業還比較可控、效率更高。

因為 Web2 和 Web3 之間,有中心化和去中心化的差別。我們也曾嘗試參與過 Web2 的企業專案,了解他們有什麼需求,進而用區塊鏈的方式去滿足這樣的需求和系統,實際運作下來,發現這樣是行不通的,因為 Web3 有 Web3 的作法,不該去做數位轉型,而是要做價值交換和流通,這才是核心。

我會從兩條不連續的成長曲線來思考這個問題。如果順著第一曲線走,企業會進行數位轉型、流程優化,最後走到斷點,企業是不可能就到此為止然後跳下懸崖,所以第一曲線的終點,就是 Web2 的天花板。我們行業內常有人開玩笑,區塊鏈一開始不可以跟實體的世界,或是傳統的流程綁得太緊,否則「區塊鏈的應用落地即墜毀」,這個背後是有幾分道理的。

我們認為 Web3 必須從第二曲線的底部開始走,只有當創造的價值,來到超越第一曲線天花板一段距離後,還在第一曲線的人,才會願意放棄原本的做法,直接跳過來,從 Day 1 就按照 Web3 的規則走,也就是不管以前的規則是什麼,就跳過來用 Web3 的規則去做事情,其實很多 DeFi 應用就是這樣的,並沒有去參考銀行怎麼做,不會去了解什麼單子、要什麼欄位,讓彼此串接的資訊格式不要跑掉,直接就跳過採用 Web3 自己的新作法。在這背後,可能會提供參與者更高的資本報酬、打破原本的交易門檻、較少中心化介入的摩擦,甚至提供參與治理的機會,這些都是 Web2 做不到的。

要怎麼走出這一段,是所有 Web3 項目的共同命題,關鍵挑戰在於怎麼維持生態的流通性?很多 Web3 項目靠的是發幣補貼,這方面實體資產就有優勢了。因為它原本就具有實體價值的支撐,但同時也代表,它的資產波動幅度沒那麼劇烈,我們必須透過一些機制,使資產可以分別滿足穩健型和風險型的購買者。所以回到問題,如果要企業擁抱區塊鏈,我認為關鍵還是在經濟模型的設計,從治理層面,直接激勵參與者,因為趨利,自然而然投入生態、做出對生態有益的事。

Q: 如果直接從代表 Web3 的第二曲線出發,呈現在你們 Pipeline 上選擇的供應鏈客戶會長什麼樣子?

A: 根據我們實際走過的經驗,我相信 Web3 這邊的順序,會非常顛覆我們過去做 Web2 的三觀。過去,Web2 企業,要先把應用場景做好,延伸出的價值才可以被流通、才有流通的價值,Web3 則是先有流通性,再利用這個流通性回去創造應用場景。這樣的例子很多,各種 XX to earn 都可算是這個模式,例如,先發 NFT 頭像,再去發展社交的功能,有這個資產的人,就會衝進去玩後來才做的遊戲,然後 Play to earn,參與度會比 Web2 更高,因為他有更多經濟上的動機,這聽起來很顛覆三觀,就是先創造流通性,再從流通性去激勵。 

回到供應鏈客戶上,具備數位化到一定程度以上的企業,對我們接受度比較高。因為畢竟是要把實體的資產與區塊鏈串接,它中間需要一個類似 Oracle 的機制,供應商是否有這筆應收帳款,其實就是一個 Oracle,只是會比較複雜一些,需要更多方的確認。

參加緯創加速器,獲得供應鏈管理的 Insight

Q: 歷經了這些創業經驗後,為什麼會在 2021 年、BSOS 創業的第三年決定申請參加緯創加速器?

A: 最主要的原因,是我們希望透過參加緯創加速器這段時間,給自己一個實驗 PoC (Proof of Concept) 的機會,因為這和我們自己去開發客戶很不一樣。自己找的客戶,可能在被拒絕後,因為客套或是其他原因,不會跟我們講真正拒絕的原因,這可能會讓我們走火入魔,因為劃錯重點而要多繞很多路,進而浪費很多時間,這對新創、尤其是區塊鏈的新創,是非常奢侈的浪費,另外,一旦被對方拒絕後,短期內我們也很難再回去拜訪對方,針對被拒絕的原因,追問更多、更深入的問題。

在參與緯創加速器這段期間,就完全不是這樣。他們會跟我們分享更多思考與決策的脈絡、真正的需求是什麼,然後提供滿多的機會,讓我們去重複修正跟提案。若沒有參加加速器,我們很難從緯創這種規模、產業的企業身上,獲得這樣的經驗。比起其他提供給新創的資源,我覺得能獲得這樣的 Insight,是我們參加最大的收穫與價值。

Q: 在供應鏈管理上,可能光是層層往上敲門與提案的過程,就遍體鱗傷了吧?

A; 這過程的確很花時間。我們透過參加緯創加速器,與緯創集團各事業單位媒合,最後是跟緯穎合作。剛開始,我們覺得應該就是派位專員層級的人來與我們對話,但其實是副總經理層級親自參與,這真的是很難得的事情,每次的討論會議,Joe 副總 (緯穎科技副總經理焦裕洲) 都有參加,提供不少 Insight 給我們。

也是因為參加緯創加速器,讓我們驗證了供應鏈應收帳款,這個問題是真的存在。對中小型供應商來講,這些問題要如何被解決,背後有一些脈絡,而我們會有一個比較深層的理解。另一方面,就是要如何創造核心買家、最後要付款的這個人,他可以有哪些動機願意參與,這將是整個系統設計比較大的關鍵,而不是讓效率更高的數位化流程等這些事情。如果再往未來多看一點,其實這就是 Web3 項目得以成功的武器,Web3 最重要的事情,就是創造大家的動機,讓對這個生態系有貢獻、把事情做好的角色,都能從中獲得有形或無形的獎勵。

Q: 以你實際參與緯創加速器的經驗,對於未來也想要申請加入企業垂直加速器的創業者或新創,有哪些提醒或建議?應該有哪些心理準備或期待?

A: 我很鼓勵新創圈的朋友,若技術或服務的應用場景符合、需要進行 PoC,都應該爭取這樣的機會。在心態上,我覺得參與這類企業垂直加速器,不要只是抱著把東西賣給大企業的目的,一定是能從對方的建議與回饋中,找出產品或服務可以調整和優化的地方,實際參加的這段時期,在產品、技術或是商業模式上,要預留可以修改的空間,這和推廣業務非常不一樣。

從這個角度來看,我建議比較適合在成長期的新創申請加入。就是比早期再成熟一些,已經有一個基本且可行性高的產品架構,但還沒有進入太大規模的商業化,產品、技術、商業模式都還有調整的彈性,參加這樣的企業垂直加速器幫助最大,如果產品或商業模式已經很成熟,能更動的地方不多,收穫可能就比較有限。

不同的企業加速器,一定會有不同的做法。以緯創加速器來說,他們對新創算是很尊重,交流與溝通很開放,也不會倚老賣老,會從緯創自身的角度,來跟我們分享為什麼會有這樣子的需求,在這樣開放的溝通下,我們可以互相激盪出新想法,以及深入的產業洞察。

Q: 展望未來,BSOS 下一階段的創業目標是什麼?

A: 我會把創業至今分成三個階段,目前正在第三個階段。第一階段大約是 2018 到 2020 年,我們主要提供技術服務和中間層工具,投入大量資源在聯盟鏈及相關工具的研發,因為許多優秀的人才,我們入選了企業以太坊 (EEA) 的規格制定小組,也是全球唯一同時被三大聯盟鏈 R3、Hyperledger、Consensys Quorum 認定為技術夥伴的公司,這樣的技術力,即便放到國際上,都是領先的。

第二階段大約是 2021 年,我們建立了 Real Assets 的 Oracle,打造出 SUPLEX 這個產品,一端接鏈下系統、一端接區塊鏈智能合約,將實體資產鑄造成鏈上資產。因為我們創業最重要的目標,就是打造一套鏈下資產映射到鏈上的機制,並且創造一套遊戲規則,讓所有參與者都能在做好某件事情後,獲得具體的好處。

第三階段的目標,則是為生態系建立一套激勵系統,創造源源不絕的流通性。我們思考的還是Web3、DeFi 的方向。從 2020 年 DeFi Summer 到現在,可以看到各種 DeFi 創新百花齊放,但我覺得第一個週期大概已到尾聲了。我們現在看到所有的 DeFi 借貸協議,都是超額抵押的概念,一旦幣價下滑,就是在鏈上被清算掉,回到一個根本問題:如果有 150 元的資產,為什麼要拿去抵押借 100 元?這不是真的缺錢,而是要做資金操作、做槓桿,把借來的錢再投入資本市場去滾錢,它很好,能夠創造流通性、創造一個價值兌換的體系。

但從金融發展史的視角來看,這個模式的概念上比較類似當鋪,還是非常初期的金融模式,宏觀來看,借貸 DeFi 未來還有很大的發展空間。接下來金融的發展,應該是要借錢給真正缺錢的人,或是借錢給要去生產或創造的人,讓這些創造者把這些錢花掉,而不只是到金融市場滾一圈再回來,應該是要在產生實質價值的商品跟服務後,讓這些價值可以再回到區塊鏈的世界。這是我們努力的目標,把錢借給真正需要的人,把錢拿去做生產、創造。Real World DeFi 是 BSOS 的下一個目標,這也是激勵參與者、創造流通性的關鍵機制。國際上已經有一些協議正在萌芽,我們會善用 Web3 的 Money Lego 特性,去展開協議之間的合作與串連。

【歡迎優質 AI、物聯網、雲端、資安、教育與醫療新創加入 Wistron Accelerator


Connecting the Random Dots – Anne Chen’s Self-intro

Anne Chen, Investor Relations Director (陳祈安 / 投資人關係協理)

Anne takes care of investor relationships for AppWorks Funds. She brings to AppWorks four years of experience at DBS, where she specialized in institutional banking relationships as a management associate and excelled at financial planning for both public and private companies as well as founders. Before that, while in college, she interned at AppWorks. Anne graduated with a Bachelor’s degree in Finance from National Taiwan University. She enjoys cooking, taking care of succulents and long walks on the beach.

(English Below) 在 AppWorks 快 3 年,是個很好的回顧時間。

與 AppWorks 的緣分可以追溯到 2013 年,約略是 AppWorks 紀元裡古生代的實習生,當時參與了加速器、接觸一點募資,懵懂間大概認識了創投前端和後台的樣貌。從台大財金系畢業後,我去了商業銀行企業金融繞了一圈,學習在授信的世界,取得風險與收入的平衡,開發業務累積臉皮的厚度,學習如何經營關係,學習獨當一面。

在銀行一繞就是 4 年多,對我來說,擔任企業金融的 RM (Relationship Manager) 本質上非常有趣,我的客戶橫跨 PCB 設備製造廠、紡織業、化學貿易業、鋼鐵業、客運業。要讓一段客戶關係發展成相依互利,就必須深入瞭解產業,而一個好的 RM 會成長為各產業的專家,幫助客戶從金融的角度解決問題。

至於為什麼選擇銀行作為職涯的起點?我有時候覺得自己唸錯科系,某些方面的我是很隨性的,有點藝術家、偏左派、需要創作的人格,居然去唸了財金系這種多數人認為充滿銅臭味的科系。高中的我在想什麼已不可考,但大學畢業要踏入社會時,我的初心其實是很美好的:我想用自己的所學幫助企業成長,因為企業是一切的活水。

這個單純到有點愚蠢的初衷,帶著我去了商業銀行。4 年後,發現大企業的資源實在是多到滿出來,少一個 Anne 真的沒差;但創業者的資源是相對少的,而我也是很需要使命感的人,所以這個想法又引領我回到 AppWorks,開始扛起投資人關係,也是另一種 RM (Relationship Management)。

有趣的是,AppWorks 是一間 KPI 開宗明義要 Make Taiwan Better & Do Everything Founder First 的公司,讓我可以繼續保留美好的信念前行。從實習生時代接觸募資,到以正職身份加入,負責打點 AppWorks 投資人關係以及創投基金事務,回頭看總覺得這是一段很奇妙的旅程,人生中幾個看似隨機的點點們,似乎逐漸連結起來,成為一條有跡可循的道路。

可是,投資人關係到底是什麼?!

作為 AppWorks 數一數二神秘的職位,創業者最常問我:投資人關係在做什麼?總結來說:AppWorks 管理的創投基金由許多投資人投入,只要是跟投資人相關的事都跟我的團隊有關,從基金募集、架構設計、基金行政、投資人的各種需求 (想認識加速器的新創、想問基金 / 投資案狀況、想從 AppWorks School 找人才、想來 AppWorks 找 Anne 喝咖啡等等諸如此類),都是我的守備範圍。

關於 Anne 的一些瑣事:

  • 作為一個腦子停不下來的人,每年我總會選擇一座山來攀登,這是我的 Reset Button。在山上資源很有限,乾淨的飲水、一餐熱食、隱蔽的廁所,都彌足珍貴,山下的欲望跟種種看似十萬火急的事情,總被拋到九霄雲外,因為手機沒有訊號。
  • 全家都在航空業,但被問到家人飛去哪個國家,會被考倒。
  • 逛菜市場的熱情 > 百貨公司,下廚是消遣。

對投資人及企業關係、基金架構有興趣的夥伴,歡迎隨時找我聊聊!

My journey with AppWorks dates back to 2013, when I was one of the earliest batches of interns. Back then, AppWorks itself had a lean and humble origin, and I always believed my role was important, even as an intern. Eventually I had the opportunity to participate in AppWorks Fund II raising at the end of my internship, that was one of the earliest memories I had with AppWorks. 

After graduating from the Finance Department of National Taiwan University, I started my career as a relationship manager in institutional banking. I thought this was a detour as I always felt something was missing, but it was indeed an interesting one. My client base spanned across a variety of industries, including PCB manufacturing machines, textiles, chemical trading, transportation, and more. For a relationship manager, the most important thing is to create value for your clients, and in this highly competitive market, sometimes you need to lean in to capture opportunities. All in all I would like to think this experience made me a fearless person, I was no longer the 22 year-old girl I used to be after the journey.

As to why I chose banking as the starting point of my career, it was very simple. I wanted to leverage my knowledge to create value for corporations, as I thought they are the key to spinning the flywheel of society. This simple purpose took me to banking, and after four years, realizing that the founders of startups are in serious need of more resources, it took me back to AppWorks, where I became responsible for Investor Relations of the firm. With Fund III closing and new funds on the horizon, everyday I feel passionate and excited to bring more value to the ecosystem, I am finally in the right place at the right time. 

Being an artistic person, somewhat progressive, and needs constant creative stimulation, somehow the 18-year old me chose Finance as my major, which to this day is an unsolved mystery. Whenever I made key decisions in my life, I always picture multiverses being created at that very moment, my life became completely different. Re-joining AppWorks was definitely a multiverse-creating event on my timeline, only this time, all the random dots seem to connect on this journey, and looking back, everything makes perfect sense. 

But what exactly does Investor Relations do?

As one of the most mysterious positions at AppWorks, the easiest way to explain what I do is – I am responsible for everything related to the investors of our funds! From fundraising, fund structuring, administration, every request from our dearest investors, I take care of these.

Some random things about me:

  • Mountain trekking is my reset button, where I view the basic aspects from a different perspective. Who needs fancy handbags when you can have a safe, clean shelter.
  • My whole family is in the aviation business. Most of the time I don’t know where they are. 
  • Cooking is a way to clear my mind. I am always excited to talk about food. 

If you are interested in investor relations, fund structuring etc., come grab a coffee with me!

Dave Liu – a Self-Intro

Dave Liu, Associate (劉大維 / 投資經理)

Dave is an Associate on the accelerator & investments team. He joined AppWorks in 2022 with over 15 years of equity, ETF and derivatives trading and investment experiences. Before that, he managed his own investment house while at the same time he served as the head of investment at a fintech startup, TRUBUZZ, where he was first exposed to the excitement of a 0-to-1 journey. Prior to that, he worked as a derivative/strategy trader at KGI Securities and T3 Trading Group in New York. Dave received an MS in Financial Engineering from the University of Connecticut, and both an MS in Optoelectronics/Photonics and a BS in Engineering Science from National Taiwan University. Complementing his analytical nature, Dave is an avid fan of psychology and enjoys listening to others’ life stories, while also relishing basketball, skiing, and hiking in his spare time.

(English Below) 我是誰,取決於我的價值觀,與跟這個世界的連結。

價值觀

我的人生軌跡一直受 Steve Jobs 的幾句話牽絆著:

  • Don’t limit your boundaries, always keep an open mind to the world.

你無法預先把現在發生的點點滴滴串聯起來,只有在未來回顧時,才會明白這些看似不相關的點是如何連成一條線,所以必須相信,過去與現在的人生軌跡,會在未來造就更進化的你。必須去相信你的直覺也好、命運也行,或甚至是因緣。這樣的方式從來沒有讓我失望,而是造就了我的生命更加與眾不同。

  •  Find something you truly love, this is where you’ll shine.

工作會佔據人生很大一部份,如果要對人生滿意,就要去做自己覺得很棒的事。而要成就偉大的事之前,必須先熱愛你正在做的工作。如果還沒找到想做的事,就繼續找,千萬別屈就於自己不喜歡的事。用盡所有心力去找,會找到的。

  •  In our limited lifetime, there are abundant things to experience.

如果你專注地做一件事情而且結果相當不錯,不應該沈浸在這樣的喜悅太久,而該繼續去投入到下一件很棒的事情,開啟新的體驗。

從這三個價值觀開始,我開始了人生體驗:持續嘗試、努力、體悟。

我與這個世界的連結

從小就特立獨行,不想走大家都走的路。或許是對這世界的好奇,盡可能地去體驗新的感受,去學習的新的事物,去接觸這大到可以容納千奇百怪事物的世界。因為生命與時間很有限,期望在每一個當下,都不會後悔正在做的事情,哪怕是痛苦但有意義的。

一次又一次,在人生的十字路口上,聆聽自己內心的聲音,不做別人認為你該做的事,哪怕這條路上只有我自己,也甘之如飴。因為,每一次新的體悟,都會帶來新的價值觀,新的價值觀會幫助你做好下一個選擇,持續循環。

高中時因為數學好,所以選擇了理組,自然而然地在大學進入理工科。然而,Robert T. Kiyosaki 的著作《窮爸爸與富爸爸》,開啟了我全新的視野:透過被動收入增加人生選擇權,了解理財是「每個人」不可避免的課題;越早讓資金、經驗、知識開始複利,用長期的思維去理解,先把一些 Must Do List 做完,慢慢貼近想做的事情。

於是,我產生了新的價值觀,這個價值觀帶我走上了一條全然不同的路:在台大電資學院畢業後,多數同學走進台積電,我毅然決然地走向了金融領域,花了 15 年去實踐自己的選擇。

在 14-15 年交易與投資生涯中,我試著用不同的角度去切入市場,曾在台灣經歷過證券研究員,紐約 T3 Trading 擔任策略交易員、KGI 證券自營部擔任衍生性商品交易員,隨後加入新創圈,兼任 FinTech 新創 TRUBUZZ 投資部負責人,同時自行經營投資事業。

我用大數據的分析去處理量化交易,以數學去計算每一筆交易的期望值,善於掌握市場情緒去找到賺錢的機會,也學習總體經濟與產業分析去了解由上而下的脈絡,並同時透過由下而上的投資思路去推演公司的商業價值,更用新創的思維去理解受市場喜愛的產品,與作為一個創業者需要具備的能力。我找到我熱愛的事情,以做為一個通才為樂趣,學習用不同的視角去看待同一個市場。

巴菲特的合夥人查理.蒙格 (Charles T. Munger) 曾說:「當你會同時用不同框架來思考,或是集合不同領域的專業時,你的能力會有加乘效應,合起來比個別領域相加還高,這稱之為魯拉帕路薩效應。」我相信只要在不同人生階段都用心投入,基於不同的選擇,最後會造就出與眾不同的能力。

在金融市場的教育下,坦然接受事情的不可控制性,包容各種的不可預測性,在每一個看似相似實則不同的職涯中去學習新的視野,也從每一次的市場興衰去體會人生的下坡路怎麼走。

然而,生活的變故帶來了新的價值觀。

2019年,我待了 3 年的新創公司,創辦人心肌梗塞驟然離世。作為他身邊最親近的人,也是最後一個看到他的人,我不得不重新思索人生的先後順序,也需要重新探索自己。

我花了 2 年半的時間全力經營自己的事業,也認識許多厲害的創業者。同時,也在這段時間涉略各式各樣的書籍,從知名企業家的傳記、人類的歷史探索、心理學的奧妙,到老子與聖嚴法師的價值觀、房地產建設的產業研究等。與此同時,經營社群媒體、參與個人創業投資、擔任新興金融科技的顧問。

在這過程中,我重新找到自己認同的價值:只要你身邊的人因為你而更好,你就會快樂。有什麼是比真心的快樂更重要的事呢?拋下人類喜歡證明自己的習慣,專注在幫助別人的過程,於是我來到 AppWorks,用另一個角度參與新創圈。我花了十幾年找到之於自己的 PMF,就像一個創業者之於產品的熱情。我是 Dave,歡迎來 AppWorks 和我聊聊。

Who I am is determined by my values and connection to the world.

My Core Values

The trajectory of my life has been led along by these quotes from Steve Jobs.

  • Don’t limit your boundaries, always keep an open mind to the world.

“You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.”

  • Find something you truly love, this is where you’ll shine.

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” 

  • In our limited lifetime, there are abundant things to experience.

“I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what’s next.”

Starting from these three core values, my life experience begins with continuous experimentation, hard work, and comprehension.

My Connection to the World

Maybe I have been rebellious and free-spirited since I was a child. I don’t take the path that most people seem to take, maybe because of my curiosity about the world. I am eager to experience as much as possible, absorbing emotions I have never experienced before, to learn new things that I like, and to touch upon the vast knowledge of this world, which is big enough to accommodate all kinds of unusual things. Because life is short and unexpected, I wish to do something even if it is painful, as long as I don’t have any regrets.

Again and again, when standing at a crossroad in my life, I’ll always listen to my inner voice and not follow the path others suggest I take. I would gladly endure even though there is no one else on the same journey, because the new comprehension will bring me new core values and fresh outlook on life, it would help me make good decisions for my next journey.

Since I am proficient at mathematics, I chose to enter science group in high school and naturally ended up in the science & engineering department in college. However, the values of the book, Rich Dad Poor Dad by Robert T. Kiyosaki opened up a new level of thinking when I was a student. To increase life choices through passive income, and understanding that financial management is an inevitable lesson in everyone’s life; the sooner you let your finances, experience, and knowledge compound and accumulate, and using long-term thinking to understand that there are some must-do things in life to accomplish first, then you can gradually move closer to what you want to do.

As a result, I formed new values that led me to a completely different path. After graduating from National Taiwan University with a degree in the Electronics Engineering department, most of my classmates went into TSMC. I took a completely different path and decided to pursue finance and spent fifteen years practicing it in the industry.

In the 15 years of my trading and investment career, I tried to cut into the market from different angles. I have experience as a security researcher in Taiwan, a strategy trader in T3 Trading in New York, a derivatives trader in KGI Securities Proprietary Department, then served as the head of the investment department of FinTech startup TRUBUZZ, and also operated my own investment business.

I leverage big data analysis to conduct quantitative strategic trading, and calculate the expected value of each trade. It helps me capture market sentiment to find opportunities for profit. I also study macroeconomics and industry analysis to adopt a top-down approach. I deduce the business value of a company through bottom-up value investing research, and use innovative thinking to understand which products are loved by the market, and the capabilities that an entrepreneur needs to have to succeed. I found what I love, and I take pleasure in being a polymath, constantly learning to view the market from a different perspective.

Buffett’s partner, Charlie Munger once said: “If you are able to think from different frameworks, or gather specialties from different fields, your abilities will have a multiplier effect, which will be better than the sum of individual field. This is called ‘Lollapalooza Effect’ “ I believe that as long as you put your head and heart into different life stages and try hard to learn something from it, you will eventually cultivate a unique ability.

After being trained in the financial markets for years, I can calmly accept that life is uncontrollable, and tolerate all kinds of unpredictability. Explore new horizons in every career that look similar but are actually different, and learn how to rebound  from every market downturn.

Yet a realization brought me new values.

I was working in a startup for three years when our founder suddenly died from a heart attack. It gave me a whole new perspective on life watching someone very close to me ending their life without any warning. After that, I decided to spend two and a half years running my own business, finding ways to meet many great founders, and also exploring more about myself. I love to read, so during this period I read a variety of books. From biographies of well-known entrepreneurs to historical explorations of humanity and the secrets of psychology, from the values of Lao Tzu and Master Sheng Yan. Meanwhile, I was managing my own financial page on social media, pursued venture capital investments in real estate, and served as a consultant for a fintech company.

During this time, I was able to discover more of my life’s purpose and values. As long as the people around you are better because of you, you will be happy. What is more important than genuine happiness? Leave the human habit of proving yourself behind and focus on the process of helping others. So I joined AppWorks to participate in the startup industry from another perspective. It took me more than ten years to find my product-market-fit, just like an entrepreneur’s passion for their product. I’m Dave, please feel free to talk to me and I’ll be happy to listen.

More about Freedom & Alyssa Chen

Alyssa Chen, Principal (陳敬旻 / 協理)

Alyssa is a Principal leading the Accelerator Arm of AppWorks, overseeing products including AppWorks Accelerator, Wistron Accelerator and management of communities ranging from accelerator alumni to mentors — “a lab that helps startups build their rockets,” as she puts it. She interned at AppWorks for a year during university. After graduation, Alyssa started her career at Huashan 1914, Taiwan’s pioneering cultural creative park. In 2016, she returned to AppWorks as an Analyst, became an Associate in 2019, and most recently assumed the role of Principal in 2022. She holds a Master of International Communications and a B.A. in German, both from National Chengchi University. On a personal basis, Alyssa is a strong advocate for female power, and has an undying passion for flowers and wine.

(English Below) 我是 Alyssa,今年 (2022) 在 AppWorks 工作滿第 6 年,最初由分析師開始,現在是加速器事業群協理。快速回顧這 6 年:在接下加速器負責人的任務之後,每年都迎接了不同的挑戰。過程中帶領加速器持續成長、區域化,2018 年重新定位為專注於 AI、區塊鏈加速器,2020 年起隨疫情轉型為 Hybrid 加速器,2021 年與緯創合作推出 Wistron Accelerator 垂直加速器,協助對接企業與新創的深度合作。

這些年來,AppWorks 的新創社群,累積已輔導超過 457 個來自大東南亞的活躍新創、將近 1500 位創業者,而這些新創公司,共為世界上創造了超過 2 萬個數位工作機會。

簡單介紹這些年我在 AppWorks 的工作內容,接下來我也想分享,我自己時常思考的問題:為什麼我覺得做這些事很重要?為什麼這是我的熱情所在?

從 20 代的開始,自由這個字彙時不時會在我心中浮現。當時的我,對所謂自由還沒有一個清楚的定義,只是在日常生活中,總有幾個片刻,我會突然感到好自由、好快樂。比如說,學生時代的我常泡在圖書館看學校才有的進口原文書籍,坐在政大圖書館,卻吸收著來自世界的文化、資訊與意識形態,這種能夠突破框架的體驗,讓我感到自由。又比如說,大學選擇念德文系,其實當時背後並沒有太深遠的想法,單純認為理解一個新的語言,有機會為我打開新的視角,帶我到更遠的地方,這種被賦能的力量,是我嚮往的自由。

而對自由的定義,在出了社會後,開始有了更清晰的輪廓。畢業後的第一份正式工作,我在華山文創園區,開發新銳設計師與藝術家,協助他們將作品商業化、策劃開立期間限定店,測試實體銷售表現。原本以為自己很藝文導向的我,在這段工作期間,回想起學生時期在 AppWorks 擔任實習生的經驗,意識到原來我更嚮往的,是能夠站在科技的最前線,協助創業者打造出可能改變下個十年人類行為的新產品 —— 對我而言,這是一種能夠形塑未來、顛覆現況的自由。

6 年下來,在 AppWorks 的工作歷程中,秉持著一樣的初衷,希望打造一個強大的創業者社群,協助創業者透過試錯、學習,突破自己變得更強更好,做出用戶喜愛的產品,打造有影響力的公司,每個人改變這個世界上的一小部分,聯合起來就是一股強勁的力道,推動許多價值的創造。

6 年不變,很幸運地,在我深信的理念之下,我同時擁有許多自由揮灑的空間。如文章開頭所舉例,這些年加速器的幾個改變與里程碑,其實都來自於平時與創業者互動所累積的觀察、討論,進而延伸出來的創新計畫與服務。

今年八月,睽違幾年在疫情後,終於又能再度親訪我們的重點市場之一印尼雅加達。我記得,那也是一個週間午後,和合作夥伴開完會,踏出商業大樓,想著未來可能促成的新計劃,自己一個人走在市中心準備去搭車的那個空檔,又一次的,在那個片刻,我深深感到自由且珍惜。

所以,關於我常常思考的問題,原來答案一直就在身邊:幫助創業者是一種賦能,陪伴每位創業者的過程到結果,其中有無限的可能性,這也是一種自由。

與創業者討論關於個人、公司的種種疑難雜症,協助梳理問題,引導適合的合作關係,是我的工作內容,也是我擅長且很有熱忱的事情。如果有相關議題想討論,以下方式可以找到我:

Email: alyssa[at]appworks.tw

Linkedin 

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Hello readers! I’m Alyssa, and it’s my sixth year at AppWorks (2022). I started my career here as an Analyst, and now I’m the Principal of the Accelerator Arm. A quick review of the past six years: After taking over the task of leading the accelerator, we experienced different challenges each year. With a mission to scale up the accelerator and expand it across more regions, in 2018, we repositioned to focus on AI and blockchain startups. In 2020, we transformed into a hybrid accelerator due to the pandemic. In 2021, we collaborated with Wistron to launch a new vertical accelerator, facilitating in-depth cooperation between enterprises and startups. 

Over the years, AppWorks has so far mentored more than 457 active startups and nearly 1,500 entrepreneurs from Greater Southeast Asia, and these startups have created more than 20,000 job opportunities in the digital world .

Having briefly introduced my experience at AppWorks, now I’d like to share something that I often reflect on by myself: Why do I think it’s important to work with startups? Why is this my passion?

When I was in my 20s, “freedom” was a word that popped into my mind from time to time. Back then, I didn’t realize how important it was to me. It’s just that in my daily life, there are always a few moments when I suddenly feel free and fulfilled. 

For example, in college, I often indulged myself by staying all day in the school library. I grabbed myself a pile of international magazines which could only be found in the school. Even though I was sitting in the library in Taipei, those publications could transport me to other parts of the world and let me immerse myself in different cultures. That made me feel free.

By the way,  I majored in German (the language) back in university. To be honest, I didn’t think too much when I picked this major (I was just 18!), but I knew that by learning a different language, it can open up a new world to me. It made me feel empowered, and I yearned for this kind of freedom.

I figured out a more clear definition of freedom after I started my career. In my first job, I was working at Huashan Cultural and Creative Park, one of the most popular tourist destinations in Taipei. I was in charge of scouting up-and-coming designers and artists, turning their artwork into consumer products, and opening up pop-up stores to test offline sales performance. I applied for this job because I originally defined myself as a romantic hipster who could publish magazines and open a flower shop in the future. But during that time, I recalled my experience as an intern at AppWorks when I was in college, and realized that what I yearn for is to be at the forefront of technology and help entrepreneurs create innovative products – products that could change human behavior in the next decade. Being able to foresee and shape the future is also a kind of freedom I crave.

Over the past six years at AppWorks, we always shared the same vision – build a strong entrepreneur community and help founders become a better version of themselves through trial and error. Encouraging founders to create products that users love and build impactful companies. When everyone can change a small part of the world, together, it’ll create massive impact.

Fortunately, I still get to enjoy a lot of freedom while working towards AppWorks’ vision. From interactions with founders, I accumulate my understanding about entrepreneurship, and then apply these ideas when we design products and services for founders – it then results in improvement and new milestones.

In August 2022, after travel restrictions finally loosened up, I was able to visit Jakarta again, one of our key markets. I remember that it was also a weekday afternoon. After a meeting with a partner, I stepped out of the office building, thinking about new initiatives we might kick-off in the future while walking alone in the city center. Once again, in that specific moment, I felt deeply free and gratified.

I realized that I feel free by empowering founders and helping them discover all the possibilities along the entrepreneurial journey. I feel free through building and creating with founders. This is where I find passion.

Note: 

Founders often book my time to chat over their founder journey or business plans. I’m passionate about helping founders sort out their problems and connecting them with suitable stakeholders. If you have related topics in mind to discuss, you can find me through the following channels:

Email: alyssa[at]appworks.tw

Linkedin 

Facebook