• AppWorks Ecosystem breaks a US$10B valuation, with aggregate turnover and funds raised both more than doubling in growth
• AppWorks Funds outperforms the world’s top quartile of venture capital and private equity funds, generating 2.5x TVPI, 1x DPI, and 26.5% IRR
• AppWorks School graduates 256 students, with a 92% placement rate

On February 2, 2021, AppWorks unveiled its key milestones over the past decade, while highlighting operational results from 2020. Despite the raging impact of the pandemic, the AppWorks Ecosystem displayed the utmost resiliency, with the funds and all encompassing companies producing healthy growth and profits.

AppWorks has just passed its 10 year anniversary in 2020, and with all pillars of its influence only continuing to grow, including AppWorks Accelerator, the AppWorks Ecosystem alumni, AppWorks Funds, and AppWorks School. AppWorks has achieved several key milestones, and made significant headway in establishing Taiwan as the technology epicenter of Greater Southeast Asia (ASEAN+TW). Looking forward into the next 10 years, AppWorks’ goal is to continue positioning Greater Southeast Asia at the forefront of an increasingly digital, automated, and decentralized 21st century.

Milestones in the AppWorks Ecosystem: Aggregate valuation, fundraising, and turnover each exhibited more than 2x growth, with the overall valuation exceeding US$10B

In 2020, AppWorks Accelerator announced its updated focus on “ABS” strategy, narrowing the recruitment of startups to only those focusing on AI, blockchain, and Southeast Asia. Despite the challenges brought on by the pandemic, AppWorks Accelerator graduated 51 new startups across AW#20 and AW#21, of which 27 are working in AI/IoT and 13 in blockchain/crypto. More than 62% of the entrepreneurs hail from countries across Greater Southeast Asia, including Hong Kong, Singapore, Vietnam, Malaysia, Philippines, and Indonesia. In response to the widespread lockdowns and travel restrictions, we also shifted our program to a hybrid online-offline model in order to facilitate a seamless experience for all of our founders despite physical limitations.

With the addition of AW#20 and AW#21, there are now a total of 395 active startups and 1,331 founders in the AppWorks Ecosystem (including accelerator alumni and portfolio companies). Collectively, all companies produce a turnover of US$ 8 billion, an annual increase of 162% compared to the same time last year, and foster 17,359 employees, 73% more than the year prior. Altogether, the Ecosystem raised a total of US$ 2.36 billion, an annual increase of 140%, with an aggregate valuation reaching US$ 11 billion, growing 160% YoY.

With COVID-19 effectively turbocharging the demand for digital technologies in 2020, the Ecosystem’s overall valuation, total funds raised, and annual turnover have each more than doubled in growth, notably exceeding the 29%, 36%, and 98% respectively experienced a year prior.

In the course of building this ecosystem and cultivating Taiwan and Southeast Asia’s innovative capabilities, AppWorks has helped generate sizable economic impact both in terms of value created and jobs produced. The combined annual turnover of US$ 8 billion is now equivalent to 0.7% of Indonesia’s GDP, and the more than 17,000 employment opportunities created are equivalent to 0.3% of Singapore’s working population.

Coincidentally, the year AppWorks exceeded a decacorn valuation is the very same year of our 10th anniversary. The increased adoption of digital technologies and outsized demand for innovative business models under COVID-19 was just enough to inch the Ecosystem into the ten billion dollar territory, not only marking a new milestone in AppWorks’ history but also representing the sheer impact that a community of digital innovators can bring. We see the scale and influence of our ecosystem only growing from here on out, into the next decade. 

The strength and potential of the AppWorks Ecosystem is perhaps best represented through the many achievements over our alumni this past year:

AppWorks Ecosystem highlights: ShopBack successfully entered the Vietnamese market; Mighty Jaxx successfully sold 5 million collectibles

Medtech startup iWEECARE (AW#9) closed a US$2.4M pre-A financing, led by previous round investor TransLink Capital. The company’s ergonomic, child-friendly smart thermometer “Temp Pal” played a critical role in disease prevention and control in hospital systems across the world during this pandemic including Taiwan, Japan, Thailand, and Ireland.
Online cashback platform ShopBack (AW#13) officially landed in Vietnam, attracting more than 800,000 users since launch and generating nearly US$200K in cashback rewards. The company now maintains a presence in 9 countries across GSEA, covering more than 20 million users.

CakeResume (AW#14), Taiwan’s leading technology job search platform, announced in 2020 that it completed a seed round of approximately US$900K. It plans to use the funds to expand into Japan and India, ultimately striving to become the largest talent platform in Asia.

Hong-Kong based Omnichat (AW#16) recently completely a seed round of US$800K in 2020. The company offers a chatbot-based marketing automation service that helps e-commerce clients enhance performance and improve checkout conversion rates by 3x – 7x. Building on its success in the Hong Kong and Taiwanese markets, Omnichat is planning on expanding its service to Southeast Asia in 2021. 

Taiwan’s leading digital identity verification solution AuthMe (AW#18) helped identify a security flaw in the MyData platform, the National Development Council’s latest effort to promote personal data ownership and privacy protection. After stumbling upon the vulnerability, the AuthMe team worked together with digital minister Audrey Tang to quickly investigate the issue and install a security patch before re-launching the service 24 hours later. 

MightyJaxx (AW#20), a technology-driven trading platform for art and toy collectibles, received US$3.2M in financing this past year.  They’ve partnered with some of the world’s leading brands such as Warner Bros, Marvel, and Disney to design a variety of pop culture collectibles, shipping 5 million units to collectors in over 60 countries in 2020.

Cryptokitties developer Dapper Labs announced several partnerships with IP owners such as NBA and UFC, while launching a new public chain designed specifically for the entertainment ecosystem called Flow, which recently raised US$18M in a token sale. 

Taiwan’s largest cloud POS provider iCHEF, completed a US$5M Series B round of financing, while accumulating more than 8,000 restaurant clients across Taiwan, Hong Kong, Singapore, and Malaysia. At the same time, it successfully integrated delivery services with platforms such as Uber Eats and foodpanda, while putting in place imminent plans for an IPO.

KKday, Asia’s leading e-commerce platform for travel experiences, successfully closed a US$75M Series C round of financing. With the support of strategic investors, the funds will be used to deepen its presence across all its international markets.

The good news and milestones also extended into the personal lives of our founders, with several newlyweds coming to light. In 2020, Kevin Wong of Origami Labs (AW#15), and Tina Lin of Flipweb (AW#15) became locked in holy matrimony; Just as well, in the same year, Matthew Lee of Codibook (AW#15) and Hanna Wu of Anno (AW#15), also found themselves entering the next stage of their lives together. This is the second and third AppWorks couple after Richard Zhu of WriteTime (AW#15) and Fiona Shi of Good Moon Mood (AW#15) became the first in 2019. 

AppWorks Funds II has outstanding performance: TVPI reached 2.5x, DPI reached 1x, and IRR reached 26.5%, outperforming the world’s top quartile of venture capital and private equity funds.

After 10 years of hard work, AppWorks Funds is today one of the largest and most active early-stage venture capital funds in Greater Southeast Asia. It has three venture capital funds totaling US$176M AUM, with investments in 56 startups encompassing 4 IPOs, 1 decacorn (worth more than US$10B), 1 unicorn (worth more than US$1B), and 6 centaurs (worth more than US$100M).

In 2020, AppWorks Funds continues doubling down on three key areas AI, blockchain, and Southeast Asia, with a total of 9 new investments this past year, including WeMo Scooter, Taiwan’s leading shared electric scooter operator; Fabelio, a fast-fashion furniture retailer that provides OMO consumer experience in Indonesia; and Dcard, the most widely used social media platform among Taiwanese youth.

In addition, AppWorks Fund II, which was established in 2014, reached peak performance in 2020, reaching a TVPI multiple (Total Value to Paid-in-Capital) of 2.5x, a DPI multiple (Distribution to Paid-in Capital) of 1x, and an IRR (internal rate of return) of 26.5%, surpassing the top quartile of global venture capital and private equity funds with the same vintage, while creating superior financial returns for our investors.

Exceeding a 1x DPI multiple not only means that we’re now at a point where we can generate substantial returns to our shareholders, but also that AppWorks Fund II has begun to produce carried interest, generating profits that effectively cover all the accumulated losses over the last 10 years.

Most of these bonuses have been distributed to all members of the AppWorks team. Thank you to all of our colleagues for their hard work in the past 10 years. With the addition of the bonuses, the average annual salary of AppWorks (excluding partners) colleagues has reached US$ 87,000  in 2020, operating on par with most internationally recognized VCs.  In the next few years, as AppWorks Funds continue to realize profits, we plan to further increase the annual compensation packages to better attract and retain the best talents both domestically and from abroad. 

Key figures of AppWorks School: 256 graduates, 92% successfully placed in software engineering roles

Needless to say, quality talents are the lifeblood of any startup, but they continue to be a scarce resource in this part of the world. In order to plug the increasing talent gap and truly help facilitate the region’s digital economy, AppWorks School was started in June 2016, offering intensive 4-month long coding programs spanning iOS, android, front-end, back-end, and data science which are free, practical, and efficient.

Since its establishment in 2016, AppWorks School has successfully graduated 256 students across 12 batches. 92% of the graduates have been successfully placed in prominent tech companies such as iCHEF, 91APP, KKBOX, LINE TV, WeMo Scooter, LineTaxi, PicCollage, Hahow, VoiceTube, Bonio, Omnichat, and Gogoro, with a median starting salary is US$25,060 (approximately NT$700,000).

Chairman & Partner Jamie Lin: AppWorks will help grow an early-stage VC ecosystem in Southeast Asia over the next 10 years

Looking back on the first 10 years since its establishment, AppWorks chairman and partner Jamie Lin said: “It was no miracle that helped us get to this point, only hard work and consistent effort. After a long and continuous 20-mile march, AppWorks’ flywheel has finally begun spinning at high velocity. Whether it’s the nearly 400 startups fostered, US$ 8 billion of economic value produced, or over 17,000 jobs created, AppWorks has helped spawn an entirely new digital ecosystem in Taiwan and across the region without consuming a single dollar of social capital. We’ve also helped solidify venture capital and the broader startup industry as a prominent asset class for potential investors and employees.”

He took a step deeper and pointed out: “A society that wants to accelerate digital transformation while empowering and providing opportunities for the younger generation to flourish requires more VCs like AppWorks — I think Taiwan and Southeast Asia can have at least 10 more AppWorks. Therefore, looking at the next 10 years, AppWorks will continue to operate accelerators, alumni communities, and venture capital funds based on the original ethos of “by founders, for founders”, that is assisting more startups and promoting win-win collaborations between them and corporates. To promote the development of the digital economy in Greater Southeast Asia, we will dedicate our resources to cultivating the “venture investment ecosystem”, with hopes of producing more high-quality venture capital firms, especially those focusing on early stages to seed the region’s future pipeline of innovators. On the other hand, the scale of AppWorks School will continue to expand, providing more interested tech talents an intensive environment to learn and hone their craft among like-minded peers. In other words, building on top of the current momentum, AppWorks hopes to further accelerate and amplify our contributions in the next 10 years, and we look forward to presenting an even more outsized impact during AppWorks’ 20th anniversary.”

At the end of the year, taking this opportunity to look back, Jamie also extends his gratitude to all the friends, partners, and stakeholders that have assisted AppWorks along the way: “I sincerely thank the 1,331 entrepreneurs who have given AppWorks the opportunity to serve you over the past 10 years. I also thank all AppWorks Mentors who have enthusiastically mentored these founders without asking for anything in return. I would also like to thank our platform partners, including AWS and GCP,  investors in AppWorks Funds, and partners in government departments that have given us their continued support over the past 10 years. Of course, I also want to thank our media friends for their long-term interest in AppWorks and all the initiatives that we’ve undertaken in the past decade. In addition, I would like to especially thank all the present and former AppWorks colleagues who have participated in this journey, if it were not for your contribution, the company would not have been able to reach this point. Finally, I would like to take this opportunity to thank the angel investor who took a bet on me and generously lent the tens of millions of NT dollars that helped get AppWorks started — my mother, Dr. Lin Jeang-Yun, without you and your blind faith, all of this would not have been possible; Grandpa and grandma are proudly looking down from the heavens. Thank you, everyone, and please continue to lend us your support and guidance over the next 10 years.”

【If you are a founder working on a startup in SEA, or working with AI / IoT, Blockchain / DeFi, apply to AppWorks Accelerator to join the largest founder community in Greater Southeast Asia.】

正值歲末年終之際，2020 年創立滿 10 週年的 AppWorks，在今日 (2/2) 公布過去 10 年的經營成果，尤其在疫情衝擊之下的 2020 年，AppWorks 以及其生態系新創仍舊大步逆風前行，旗下基金與 AppWorks 公司本身也開始產出健康獲利，整體進入收成階段。

在 2020 年，剛走過第一個 10 年的 AppWorks，影響力持續放大。包括 AppWorks Accelerator 創業加速器、The AppWorks Ecosystem 校友生態系、AppWorks Funds 創投基金，以及 AppWorks School 數位人才培育等各主要服務，AppWorks 都寫下重要里程碑，推升台灣在大東南亞 (東協 + 台灣) 數位經濟的重鎮地位。展望下一個 10 年，AppWorks  的目標是在日益數位化、自動化、去中心化的 21 世紀中，繼續扮演一股推升的力量，讓大東南亞能居於領先的地位。

AppWorks 生態系里程碑：2020 年整體價值、募資金額、營業額翻倍成長，整體價值首度突破百億美元

2020 年，AppWorks Accelerator 宣佈聚焦在 ABS 策略，限定招募來自 AI、Blockchain 與 Southeast Asia 的團隊。這一年，對加入 AppWorks 的創業者來說，過得並不容易，因應疫情帶來各種挑戰，得要展現絕佳的創新與韌性，在 2020 年自 AppWorks Accelerator 畢業的 AW#20、AW#21 兩屆中，共有 51 支新創團隊，其中，有 27 支來自 AI / IoT 領域，另外有 13 支來自 Blockchain / Crypto 領域，超過 62% 的創業者來自大東南亞，包括香港、新加坡、越南、馬來西亞、菲律賓、印尼等。由於疫情造成國境封閉，AppWorks Accelerator 也改為兼顧線上與實體活動的混合模式，以利創業者更方便參加。

隨著 AW#20 與 AW#21 兩屆生力軍加入，以及 AppWorks 生態系所有新創的共同努力，在 2020 年帶動 The AppWorks Ecosystem 新創生態系大幅成長。活躍新創累積至 395 家、共 1,331 位創業者；全體總價值達到 110.7 億美元，較前一年大幅成長 160%；生態系累積募資金額為 23.6 億美元，年增率達 140%；所有新創的加總年營業額來到 80.5 億美元，較 2019 年大幅成長 162%；整體新創提供的就業人數達 17,359 位，年增率為 73%。

其中，全體總價值、累積募資金額、整體年營業額均有一倍以上的成長，較 2019 的 29%、36%、98% 高出許多，顯示出疫情之下，AppWorks 生態系新創，仍舊快速且健康的成長，成長幅度甚至超越疫情前。

另外，值得一提的是，80.5 億美元的加總年營業額，相當於 1.3% 台灣的整體 GDP，1.7 萬工作機會則相當於 0.15% 台灣的工作人口，代表所有 AppWorks 生態系新創加總起來的力量，已確實帶來可觀的經濟推升力，並為創造就業提供具體貢獻。

巧合的是，AppWorks 生態系全體總價值在 10 週年這一刻，在疫情加速數位轉型、應用及新商業模式的帶動下，突破百億美元大關，不僅因此寫下新頁，也代表 AppWorks 生態系的規模與影響力，將在 2021 年起的下一個十年，換檔進入另一個成長階段。

回顧 2020 年，AppWorks 生態系中有多家新創，繳出了以下的好成績：

AppWorks 生態系新創好成績：ShopBack 成功進軍越南市場；Mighty Jaxx 完成 500 萬件收藏品認證

醫療科技新創 iWeecare 愛微科 (AW#9) 在 2020 年宣佈獲得 240 萬美元 Pre-A 輪延伸投資。在疫情當下，iWeecare 站在防疫最前線，開發出世界上最小的連網智慧體溫貼片「添寶」(Temp Pal)，並加速佈局中國與美國等國際市場。

大東南亞最大電商現金反饋平台 ShopBack (AW#13)，在 2020 年完成越南市場落地與拓展。目前，ShopBack 已成功進軍新加坡、馬來西亞、菲律賓、印尼、台灣、泰國、越南、澳洲、韓國等 9 個重要市場。

台灣領先的科技求職平台 CakeResume (AW#14)，在 2020 年宣佈完成約合 90 萬美元的種子輪融資，計畫將把這筆資金，用於拓展日本與印度市場，並致力成為亞洲最大的科技人才平台。

提供業界領先的行銷機器人訂閱服務 (SaaS)、來自香港的新創 Omnichat (AW#16)，在 2020 年完成 80 萬美元的種子輪融資。整體而言，Omnichat 能為電商客戶帶來顯著的業績成長，例如，轉換率比電商整體平均高 3 到 7 倍。站在既有的成功基礎上，Omnichat 預計在 2021 年啟動大東南亞拓展計畫。

台灣領先的數位身份驗證解決方案 AuthMe (AW#18)，在 2020 年與 MyData 數位服務個人化平台進行串接測試時，意外發現 MyData 平台及戶政系統存在資安瑕疵，所幸迅速通報政務委員唐鳳，針對漏洞進行調查，在 24 小時內完成漏洞修補並將 MyData 平台重新上線，重啟服務。

打造由技術驅動的潮玩與收藏品的交易平台 Mighty Jaxx (AW#20)，在 2020 年獲得 320 萬美元融資，至今，Mighty Jaxx 已與全球數百名藝術家，以及 Marvel、DC、Disney、New Balance、Fox 等國際品牌合作，預計在 2020 年，完成 500 萬件潮玩與收藏品認證。

Cryptokitties 開發商 Dapper Labs，宣佈與 NBA、UFC 等 IP 擁有者合作，並推出專為娛樂生態系統所設計的新公鏈 Flow，完成 Token 社群銷售，募資 1,800 萬美元。

台灣最大 SaaS 模式的餐飲 POS 系統 iCHEF，完成 500 萬美元 B 輪融資，在台灣、香港、新加坡與馬來西亞等市場，成功累積超過 8,000 家餐飲客戶，同時成功與 Uber Eats 及 foodpanda 等平台整合外送服務，並正式啟動 IPO 計畫。

亞洲領先的旅遊體驗電商平台 KKday，成功完成 7,500 萬 C 輪融資，在策略投資人的支持下，這輪資金將用於深化國際拓展。

除了事業上的好消息，AppWorks 生態系也陸續有校友宣佈人生好消息。在 2020 年，同為 AW#15，來自香港 Origami Labs 的 Kevin Wong，與 Flipweb 的 Tina 林姸廷共結連理；同樣也是 AW#15，來自韓國 Codibook 的 Matthew 李侑錫，與同屆的 Hanna 吳小涵在 2020 年邁入婚姻的新人生階段。這是繼 2019 年 AW#15、WriteTime 手寫時光的 Richard 竺佳慶，與同屆的望月女子谷慕慕 Fiona 史文妃締結百年之好，成為首對 AppWorks 夫妻後，第二及第三對 AppWorks 夫妻。 

AppWorks Funds II 績效卓越：TVPI 達 2.5 倍、DPI 達 1 倍、IRR 達 26.5%，優於全球前 1/4 創投與私募基金 

經過 10 年的努力，AppWorks 今日已是大東南亞區管理資產規模最大的早期創投之一，旗下三支創投基金，總計達 1.76 億美元，累計投資 56 家新創，目前為止創造 4 個 IPO、1 家十角獸 (Decacorn，價值 100 億美元以上)、1 家獨角獸 (Unicorn，價值 10 億美元以上)，以及 6 家半人馬 (Centaur，價值 1 億美元以上)。

在 2020 年，AppWorks Funds 持續深耕 AI、Blockchain、Southeast Asia 三大重點領域，共有 9 筆投資案。包括台灣領先的共享電動機車平台 WeMo Scooter、印尼最大的快時尚 OMO 傢俱零售商 Fabelio、台灣年輕世代最常使用的社群媒體平台 Dcard 等。

此外，2014 年設立，目前進入收成期的 AppWorks Fund II (本誠創投基金) 在 2020 年繳出亮眼的投資績效，收益乘數 TVPI (Total Value to Paid-in-Capital) 達 2.5 倍，已分配收益乘數 DPI (Distribution to Paid-in Capital) 達到 1 倍，年化內部報酬率 IRR (Internal Rate of Return) 達 26.5%，皆勝過同時期全球績效前 1/4 的創投與私募基金，為投資人創造優異的財務報酬。

跨越 1 倍已分配收益乘數 DPI，除了代表 AppWorks 已開始實質貢獻獲利給予基金股東，同時也代表 AppWorks Fund II 開始支付收益獎金 (Carried Interests) 給予 AppWorks，讓創業 10 年的 AppWorks 正式開始獲利，並且一口氣彌補過去 10 年所有的累積虧損。

這些獎金絕大多數已分配給 AppWorks 團隊全體成員，感謝同仁們過去 10 年的辛勤付出。加計所有獎金，AppWorks (合夥人以外) 同仁的平均年薪，在 2020 年達到 243 萬新台幣，初步拉齊與國際投資機構的水準。接下來幾年，隨著 AppWorks Funds 投資案陸續實現收益，AppWorks 計畫持續拉高同仁的年薪，以吸引並留下國際最優秀的生態系經營、投資人才。

AppWorks School 關鍵數字：256 名畢業學員，92% 順利轉任軟體工程師

人才是新創企業最重要的資產，為了因應新創以及網路企業對軟體工程師的龐大需求，同時也提供想投入數位、網路與電商產業的人才，重新快速學習與成長的機會。AppWorks 在 2016 年 6 月開辦 AppWorks School，現經營有 iOS、Android、Front-End、Back-End 與 Data Engineering 專班。透過免費、實作、高效、與業界結合的紮實培訓計畫，培育新一代的優秀工程師。

自 2016 年創辦以來，AppWorks School 已有 256 名學員順利畢業。其中 92% 的畢業生，順利轉職投入軟體產業，在 iCHEF、91APP、KKBOX、LINE TV、WeMo Scooter、LineTaxi、PicCollage、Hahow、VoiceTube、Bonio、Omnichat、Gogoro 等知名新創中服務，年起薪中位數為 25,060 美元 (約 70 萬元新台幣)。

林之晨總結 AppWorks 經驗：創投是加速社會新陳代謝，幫助有志者上進的關鍵物種，下個十年，將在台灣與區域催生更多 AppWorks

回顧創辦至今的第一個 10 年，AppWorks 董事長暨合夥人林之晨說：「沒有奇蹟、只有累積。經過長期且持續的 20 哩行軍，AppWorks 的飛輪已高速運轉，在 2020 年大放異彩。生態系近 400 家活躍新創價值跨越 100 億美元、貢獻每年 80 億美元產值與超過 1.7 萬個工作機會，創投基金展現健康獲利，產生實質收益給予股東，AppWorks 公司本身亦彌補累虧，進入長期獲利階段。換言之，AppWorks 過去 10 年為台灣與區域深耕新創生態系，催生出巨大且實質的數位經濟產出，以及大量的新興工作機會，不僅沒有消耗一塊錢社會資本，還創造出新的資產給予股東與員工，這就是『創投』這個物種神奇的地方。」

他更近一步指出：「一個社會要加速新陳代謝，促進轉型，提供有志者上進的機會，需要更多像 AppWorks 這樣的創投 — 我想台灣與東南亞，至少可以再有 10 個 AppWorks。因此，放眼下個 10 年，AppWorks 除將本著由『創業者、為創業者』的初衷，持續經營加速器、校友社群與創投基金，協助更多新創、促進他們與企業雙贏合作，以此推動大東南亞區域數位經濟的發展，我們也將投入『創投生態系』的深耕，催生更多優質創投，尤其是早期創投，透過他們來加速台灣與區域的發展。另一方面，AppWorks School 規模化也將增速，提供更多想轉職科技公司的人才，最有效的衝刺環境。換言之，基於目前的基礎，下個 10 年，AppWorks 將全面加速、放大我們的貢獻，請大家跟我一起期待，20 週年時 AppWorks 能呈現的 Impact。」

歲末年終，趁此回顧機會，林之晨也代表 AppWorks，對曾協助過 AppWorks 的各界夥伴致謝。他說：「衷心感謝過去 10 年來，給 AppWorks 機會、接受我們服務的 1,331 位創業者，也感謝所有過程中不求回報、熱情輔導他們的 AppWorks Mentors，還要感謝包括 AWS、GCP 在內的所有加速器平台夥伴，以及 AppWorks Funds 的投資人，政府部門的夥伴，在過去 10 年給我們的支持和指導。當然也要感謝媒體朋友們對 AppWorks 以及眾多 AppWorks 新創的長期關心，謝謝你們持續講述這些故事，激勵更多有為亦若是的年輕人。此外，更要感謝所有參與過這段旅程的每一位同仁，如果不是你們的參與和貢獻，AppWorks 無法達到今天的里程碑。最後，我想藉這個機會感謝當初慷慨借款千萬，讓 AppWorks 得以成立的天使投資人、我的母親林靜芸醫師，您的善款，催生了如今對台灣的巨大貢獻，外公外婆在天上看到，應該會覺得非常驕傲。謝謝大家，往後的 10 年，還請繼續支持、指教。」

【歡迎所有 AI / IoT、Blockchain / DeFi、面向東南亞市場的創業者，加入專為你們服務的 AppWorks Accelerator】

正逢歲末年終之際，在 2020 年即將邁入第十年的 AppWorks，於昨晚 (1/7) 舉辦 AppWorks Accelerator  聯合大尾牙。這是 AppWorks 每年最重要的活動之一，不僅邀請 AppWorks Accelerator 歷屆新創校友與員工們回娘家，也藉此讓人數較為精簡的新創員工們同歡，一同感受聯合尾牙的溫馨、熱鬧、抽大獎的氣氛，這次尾牙，總共約 80 支新創團隊、近 400 人參加。

在尾牙席間，AppWorks 也公布 2019 Year in Review 年終總回顧，展現過去一整年的成果。回顧 2019 年，在 AppWorks Accelerator 創業加速器、The AppWorks Ecosystem 校友生態系、AppWorks Funds 創投基金，以及 AppWorks School 數位人才培育等各面向上，AppWorks 都寫下重要里程碑，持續結合各界資源，努力推升台灣成為大東南亞 (東協 + 台灣) 數位經濟的發展重鎮。展望 2020 年，AppWorks 則將持續聚焦於 ABS (AI、Blockchain、Southeast Asia) 長期發展策略。

回顧 2019 年，是 AppWorks 豐收的一年，繳出了各項亮眼的成績單。其中，大東南亞校友規模最大的 AppWorks Accelerator，正加速吸引來自以大東南亞為主的 AI / IoT 與 Blockchain 新創來台北進駐，持續扮演大東南亞領先的創業加速器。在 2019 年畢業的 AW#18、AW#19 共 48 支新創團隊，其中 29 支以 AI / IoT、19 支以 Blockchain 為創業主題，這群優秀的創業者中，有出身自 Google、Microsoft、Ripple、Uber、Amazon、Qualcomm、Samsung、聯發科技、Agoda 高管所創辦的公司，也有來自 Y-Combinator 的校友、獲選為 Forbes 30 Under 30 的年輕創業家以及《端傳媒》的創辦人。此外，48 支團隊中，73% 為台灣以外的國際團隊，其中更有超過六成的新創團隊來自東南亞，包括香港、新加坡、越南、馬來西亞、印尼。兩屆團隊也分別在各自的 Demo Day 登場，展現讓人驚艷的創業實力與能量，兩場 Demo Day，各吸引超過 1,200 位投資人、業界代表出席。

AppWorks 生態系里程碑：突破千名創業者、10 億美元募資、創造 1 萬名就業人數

隨著 AW#18 與 AW#19 兩屆生力軍的加入，以及 AppWorks Accelerator 歷屆新創校友們的共同努力，在 2019 年帶動 The AppWorks Ecosystem 校友生態系大幅成長。活躍新創累積至 376 家、共 1,113 位創業者；全體總估值達到 47.2 億美元  (約為 1,440 億新台幣)，較前一年成長 29%；生態系累積募資金額為 11.1 億美元 (約為 339 億新台幣)，年增率達 36%；所有新創的加總年營業額來到 49.7 億美元 (約為 1,516 億新台幣)，較 2018 年大幅成長 98%；整體新創提供的就業人數達 11,162 位，年增率為 16%。其中，創業者人數、整體募資金額、創造的就業數量，分別突破 1,000 位、10 億美元、1 萬位的整數關卡，不僅因此寫下新歷史，也代表 AppWorks 生態系將在 2020 年起的下一個十年，換檔進入另一個成長階段。

回顧 2019 年，AppWorks Accelerator 有多家新創校友，繳出了以下的亮眼成績：

AppWorks Accelerator 校友好成績：VoiceTube 拓展日本、越南市場；WeMo Scooter 累積騎乘數突破 500 萬人次

2010 年成立、專攻成效型行銷廣告的 Tagtoo 塔圖科技 (AW#1)，是台灣最早一批投入 AI 領域的代表新創。除了站穩台灣市場外，Tagtoo 近年也積極拓展大東南亞市場，繼 2018 年

獲得亞洲知名行銷社群 CMO Asia 評選為 2018 年印尼最佳品牌獎之後，Tagtoo 在 2019 年完成 180 萬美元 A 輪募資，持續拓展並深耕印尼市場。

台灣規模最大的寵物連鎖服務業集團 WonderPet 萬達寵物，在 2019 年完成購併 Petpetgo 毛孩市集 (AW#3) 。根據預估，2020 年台灣毛小孩數量將達 280 萬，首度超越 15 歲以下兒童，在台灣持續成長的毛孩經濟中，兩者的結合，將有助更進一步擴展市場版圖。

台灣最大的語言科技教育平台 VoiceTube (AW#7)，在 2019 年完成 350 萬美元的 A 輪融資，將用於拓展日本、越南等海外市場，以及強化產品技術與開發。目前 VoiceTube 擁有 360 萬用戶，月活躍用戶達 150 萬，其中日本用戶超過 25 萬人，預估 2019 年營收為 2018 年的 3 倍。

台灣最具代表性的 AI 安全監控新創 Umbo CV (AW#9)，在 2019 年完成 800 萬美元的 A+ 輪募資，將繼續加速國際化拓展。Umbo CV 目前擁有來自全球 30 個國家、超過 200 家企業客戶，是台灣在 AI 領域中，國際化拓展最為成功的新創典範之一。

台灣知名的計程車叫車平台 TaxiGo (AW#11)，在 2019 年獲得 LINE 投資，並成為最大股東，TaxiGo 也因此更名為 LINE Taxi。LINE 正在打造「Life on LINE」全方位的數位生活圈，LINE Taxi 便是其中在交通領域的重要佈局。

台灣最大、亞洲第一個推出的共享電動車服務的 WeMo Scooter (AW#12) 在 2019 年歡慶成立三週年，並完成多項重要里程碑。包括進軍高雄市，全台投放量突破 5,000 台，累積超過 500 萬次騎乘數，平均每 5.7 秒就有一人租借 WeMo。

台灣領先的股票投資資訊與下單行動平台 Fugle 富果 (AW#12)，2019 年獲得玉山證券、國發會等共 2,900 萬新台幣的天使輪投資。目前，Fugle 的 App 用戶突破 8 萬人，並在六個月內創下總交易金額 (GTV) 突破五億新台幣的佳績。

大東南亞最大現金回饋平台 ShopBack (AW#13)，在 2019 年完成 4,500 萬美元募資，將持續拓展大東南亞區業務，穩坐龍頭寶座。ShopBack 於 2014 年在新加坡成立，五年來，已陸續拓展至馬來西亞、菲律賓、印尼、台灣、泰國、澳洲等市場。

台灣最大美髮設計師預約平台 StyleMap 美配 (AW#14)，在 2019 年完成近 2,000 萬新台幣的Pre-A輪募資，此輪資金將投入平台新開發的行動支付功能「美Pay」，並跨出美髮領域，前進相關產業如美甲、美容、美睫。成立三年多來，StyleMap 平台上累積超過 8,000 名設計師， 平均每月成功媒合美髮服務的次數高達 2 萬次。

領先亞洲開發出社群電商整單系統的 FBbuy (AW#15)，在 2019 年獲台灣直播平台龍頭 M17 購併，並更名為「HandsUP 舉手購物」，共同進軍直播電商市場。在直播電商新業務的挹注下，M17集團預計在 2019 年營收將突破 100 億新台幣。

香港共享工作空間平台 Booqed (AW#15)，在 2019 年完成 168 萬美元的種子輪募資。Booqed 現擁有超過 35 家企業客戶，涵蓋科技、保險和零售等行業，在香港、深圳、新加坡等三個城市，共擁有 1,600 筆房源。

自動化機器學習 (AutoML) 新創 MoBagel 行動貝果 (AW#16)，2019 年完成 500 萬美元 A 輪募資，用來加速普及 AutoML 技術至需要準確預測的企業。MoBagel 客戶來自美國、日本、中國及台灣，涵蓋政府部門、電信業、零售業、製造業、金融保險業等領域，預計 2019 年營收維持倍數成長。

成立於新加坡、在大東南亞居於領先的限量潮牌運動鞋與服飾電商 Novelship (AW#16)，在 2019 年完成規模 205 萬美元的種子輪募資，新資金將用來拓展香港、馬來西亞、印尼市場。

台灣第一家透過 App 即時媒合酒後代駕服務的 TWDD 台灣代駕 (AW#16)，2019 年宣布獲得規模 130 萬美元的 A 輪募資。自從 2016 年正式上線後，至今已經服務超過 3 萬名顧客，累計達成 20 萬趟代駕服務，近兩年每月平均以兩位數的成長率持續發展。

推出全球第一款 AI 智慧寶寶攝影機的 Cubo (AW#16)，繼 2018 年於群眾募資網站上架，創下 30 分鐘內集資破百萬、2 小時內破 300 萬、總金額突破千萬新台幣的好成績後，在 2019 年進一步完成 400 萬美元的 A 輪募資，持續衝刺全球第一名寶座。

台灣領先、專注於開發嵌入式軟體平台、打造 Hardware-as-a-Service 硬體孵化育成模式的 Soda Labs (AW#17)，在 2019 年完成 200 萬美元的種子輪募資，通過與 OEM 大廠合作孵化電子硬體、開發嵌入式軟體和可擴展的商業模式，加快硬體創新的腳步。

AppWorks Funds 影響力大增：三檔創投基金總規模達 1.7 億美元

在 AppWorks Funds，同樣也有不俗的表現。2019 年，隨著台灣大哥大、富邦人壽、國泰人壽、緯創資通、宏泰集團、群益金鼎證券以及國發基金成為 AppWorks Fund III 的主要股東，累計 AppWorks 旗下管理的三檔創投基金，總資金規模為 1.7 億美元 (約 51 億新台幣)，因此成為大東南亞區域內，較具規模的創業投資機構。

AppWorks Funds 近年，逐漸聚焦於 ABS (AI、Blockchain、Southeast Asia) 策略上，在 2019 年 AppWorks Funds 也完成 11 項投資案。包括開發 CryptoKitties (迷戀貓) 紅遍全球、以 Blockchain 提供新娛樂應用體驗的 Dapper Labs；提供 AI 驅動的家庭安全監控攝影網絡的 Deep Sentinel；以及來自印尼，打造線上學習平台的 HarukaEDU、推動革命性支付應用服務的 Infra Digital。在 AppWorks Funds 既有的投資案上，也有多家新創展現驚人的成長爆發力，包括晉身為獨角獸、在大東南亞超過 260 個城市提供共享快遞物流服務的 Lalamove；亞洲最大旅遊體驗平台 KKday 則持續保持每年三位數成長、月活躍用戶 (MAU) 高達 640 萬人。

AppWorks School 關鍵數字：91.6% 畢業學員順利轉任軟體工程師

人才是新創企業最重要的資產，為了因應新創以及網路企業對軟體工程師的龐大需求，同時也提供想投入數位、網路與電商產業的人才，重新快速學習與成長的機會。AppWorks 在 2016 年 6 月開辦 AppWorks School，現經營有 iOS、Android 與 Web 專班。透過免費、實作、高效、與業界結合的紮實培訓計畫，培育新一代的優秀工程師。

自 2016 年創辦以來，AppWorks School 已有 179 名學員順利畢業。其中 91.6% 成功在網路公司擔任軟體工程師，包括 momo 購物網、91APP、KKBOX、LINE TV、WeMo Scooter、LineTaxi、Hahow、VoiceTube、OmniChat 以及 Gogoro，起始年薪中位數近 70 萬新台幣，學員表現在業界也享有極佳口碑。AppWorks School 的成功模式，為所有想踏入數位產業的年輕朋友提供了一條最快速、有效的道路，也幫新創團隊和網路公司補足人才缺口。

回顧 2019 年，AppWorks 董事長暨合夥人林之晨說：「2019 年是 AppWorks 大放異彩的一年。我們將與各界繼續一起合作、持續努力，為大東南亞的數位經濟浪潮貢獻更多力量，敬請期待我們 2020 年的表現。」不論是在 AppWorks 整體生態系、AppWorks Accelerator 校友、AppWorks Funds、AppWorks School 等各面向，2019 年都有遠優於往年的成果，代表歷經多年努力後，AppWorks 的飛輪效應正進入換檔加速階段。

歲末年終，趁此回顧機會，林之晨也代表 AppWorks 全體，對曾在 2019 年協助過 AppWorks 的各界夥伴致謝。他說：「衷心感謝所有給 AppWorks 機會、接受我們服務的創業者，也感謝所有熱情付出輔導新創的 AppWorks Mentors，還要感謝包括 Amazon、Microsoft、Google 等國際企業在內的平台夥伴，以及 AppWorks Funds 的投資人、創投業界先進，以及政府部門的夥伴們，在 2019 年給我們的支持和指導。最後，當然也要感謝媒體朋友們對 AppWorks 的照顧。2020 年，也請大家繼續和我們一起奮鬥、努力翻轉台灣與大東南亞。」

【歡迎所有 AI / IoT、Blockchain、來自東南亞的創業者，加入專為你們服務的 AppWorks Accelerator】

• In 2018, AppWorks Accelerator narrowed its focus to recruiting only AI / blockchain startups
• AppWorks Funds invested US$ 15M across 11 deals spanning AI, blockchain, EC & fintech
• The AppWorks Ecosystem reached US$ 3.6B in valuation, encompassing 328 startups & 925 founders
• AppWorks initiates the first wave of internal promotions, yielding 2 new partners & associates

For AppWorks, 2018 marked a critical juncture in our organization’s history. After 16 batches and 8 years of operations, AppWorks Accelerator decided to narrow its semi-annual intake of startups to accept only those working with AI / blockchain technologies starting from batch AW#17. Meanwhile, AppWorks Funds carried out the first of several investments into AI / blockchain startups out of our newly minted US$ 100M Fund III.

Just as mobile had completely transformed the status quo for companies and startups alike over the last decade, we believe AI and blockchain, while still nascent technologies, will set forth a similarly disruptive paradigm shift and define an entirely new era for industries in the years to come. As such, AppWorks has iterated upon several aspects of our organization this past year to elevate our community and help founders fully embrace a smart and decentralized future.

Our latest accelerator batch AW#17 was the first instance of this iteration, ultimately yielding 34 teams, 21 working with AI/IoT & 13 with blockchain/crypto. With the addition of the 29 startups from AW#16, AppWorks Accelerator graduated a total of 63 startups in 2018, with 38% hailing from countries outside of Taiwan including Hong Kong, Singapore, Malaysia, Vietnam, Belgium, Thailand, Sri Lanka, Sweden, and the US.

On the venture capital side, AppWorks Funds made 11 investments collectively worth US$ 15M in several promising startups operating on the forefront of technologies including Deep Sentinel, XREX (AW#17), 91APP, Carousell, EMQ, and Pickone (AW#9), while helping them raise a total of US$ 222 million across these rounds.

The AppWorks Ecosystem now counts 328 active startups and 925 founders in its network. These AppWorks startups are generating US$ 2.5B in total annual revenues, growing at 90% year-over-year, and have created 9,586 jobs, increasing by 67% from the prior year. They have raised US$ 806M from both AppWorks Funds and third-party investors, up 82% from last year, and together exhibit a composite valuation of US$ 3.6B, roughly a 127% uptick over the last 12 months.

Our efforts this past year have allowed AppWorks to achieve a new echelon of success and truly revitalized our position as the strongest founder community in Greater Southeast Asia—and there are perhaps no better indicators of that status than the recent milestones achieved by a few of our alumni. Ztore (AW#13) and AsiaYo (AW#12) both closed a Series B round amounting to US$ 8M and US$ 7M+ respectively to accelerate vertical expansion and international growth. Meanwhile, Nuwa Robotics closed a US$ 10M Series A Round and Origami Labs (AW#15) a US$ 2.6M Seed Round to fuel product development and jumpstart market traction. Opting for a more alternative form of financing, Mr. Living (AW#12) and Cubo (AW#16) carried out successful crowdsourcing campaigns, raising US$ 700K and US$ 350K respectively.

With the region’s startup ecosystem rapidly maturing, the demand for quality talent has never been greater. We started AppWorks School in 2016 to cultivate talents for today’s digital career while at the same time infusing quality new blood into the ecosystem. In 2018, AppWorks School graduated 49 newly trained developers through our 14-week free coding programs. 85% of these graduates went on to pursue successful software engineering careers in prominent Internet companies such as 91APP, KKBOX, CHOCO TV, PicCollage, and UDN Group, with an average annual salary of US$ 20,400. Currently, our curriculum offers iOS, Android, and web development tracks, and will soon tack on a data science track in anticipation of changing talent demands.

To say it’s been a productive year would have been an understatement. Tapping into the collective effort of each and every one of our team members, we successfully shifted our focus to AI / blockchain and made substantial strides in empowering founders across Greater Southeast Asia to fully embrace a smart and decentralized future. Executing such a strategy also accelerated our team’s growth. A few of our members have matured to a point where they are ready to shoulder more responsibilities and take on newer challenges. We are therefore happy to announce that as of today, our Associates, Jessica Liu and Andy Tsai, have officially been promoted to Partners, while our Analysts, Alyssa Chen and Ching Tseng, are now Associates.

Finally, we’d like to extend a special thanks to all of our partners and friends in the startup community and look forward to working together to strengthen the regional ecosystem even further in 2019.