AppWorks, a leading venture capital firm and accelerator in Greater Southeast Asia, today announced a series of institutional and organizational developments in tandem with a number of key internal promotions. 

As part of its organizational upgrades, AppWorks has established new arms that encapsulate the firm’s core mandate components, including dedicated arms for its accelerator and web3 practices. To drive these programs, AppWorks made a number of key promotions, including Alyssa Chen, from Associate to Principal to oversee AppWorks Accelerator arm; Ching Tseng, from Associate to Principal to lead the newly created web3 arm; as well as Jun Wakabayashi, from Analyst to Associate to head AppWorks Beacon Funds operations. These promotions reflect AppWorks commitment to cultivating talent and recognizing and rewarding excellence within the firm.

In addition to these developments, AppWorks will begin its fundraising process in Q2 for AppWorks Fund IV at a target size of US$360 million.

As the foundation of the AppWorks ecosystem, the AppWorks Accelerator is held twice annually, welcoming entrepreneurs focused on the firm’s core mandate of AI, blockchain and Southeast Asia (“A.B.S.”) to attend and gain close mentorship from the program to build founder fundamentals, accelerate business growth, and gain access to funding opportunities. Since its establishment in 2010, AppWorks Accelerator has built a community of 1,402 alumni entrepreneurs, operating 435 active startups spanning across the region with combined revenues of US$13.9 billion, cumulative fundraising of US$4.7 billion, and 20,169 jobs created.

The firm also runs the bi-annual Wistron Accelerator, a joint collaboration between Wistron, one of the world’s largest suppliers of information and communications products, and AppWorks, that recruits outstanding founders across AI, IoT, cloud, information security, education and medical verticals. As more corporates aspire to establish their own vertical accelerator to bring them closer to startups as well as help startups partner with traditional industries, AppWorks decided to further institutionalize its accelerator arm to bridge the gap and amplify the firm’s existing efforts to cultivate the next generation of founders.

For the firm’s web3 investment strategy, as a new paradigm in technology transforming the digital economy, by establishing the web3 arm, AppWorks will focus on providing entrepreneurs with targeted resources to drive web3 mass adoption and support innovation in new business models. The firm will also assist founders in web1 and web2 spaces of its founder community to pivot to web3 models, bridging traditional startups into the blockchain space. Since its entry into blockchain in 2018, AppWorks has accelerated and invested in a total of 75 active new startups and 141 entrepreneurs in the web3 space, including Dapper Labs, Figment, Animoca Brands, Blocto and XREX, among others.

As part of AppWorks commitment to building a comprehensive venture ecosystem connecting Taiwan with Southeast Asia and the global blockchain industry, the firm has launched the AppWorks Beacon Funds strategy, to date backing  more than 20 venture capital funds off AppWorks GP’s own balance sheet. Select AppWorks Beacon Funds include Pantera Capital, Animoca Ventures, AC Ventures, Asia Partners, Golden Gate Ventures, and others. In addition to sharing know-how, through cooperation, AppWorks Beacon Funds strategy generates co-investment opportunities, provides global due diligence and landing support, and builds portfolio company synergies throughout the ecosystem. Roughly one-third of all AppWorks investments are now sourced from AppWorks Beacon Funds. The firm plans to invest in 10 more funds every year aligned with AppWorks’ core investment mandate.

“Through the combined effort of the AppWorks portfolio company founders and our team, the AppWorks ecosystem has experienced remarkable growth since its inception. We are proud of the performance and contributions of Alyssa, Ching, and Jun—and we have decided to put on their shoulders greater responsibilities as part of our institutionalization process,” said Jamie Lin, Chairman and Partner, AppWorks. “With these structural improvements and our upcoming Fund IV, AppWorks will be more ready to create an even greater impact on the development of Taiwan and Southeast Asia, supporting more entrepreneurs, and accelerate emerging and innovative new segments of the digital economy.”

The organizational upgrades come with the firm’s recent success in key investments, such as 91APP and FLOW, designed to accelerate the firm’s momentum in key investment areas. With a 2014 vintage, AppWorks Fund II (US$51 million) has achieved an annualized internal rate of return (IRR) of 29.3% and a distribution to paid-in multiple (DPI) of 1.34x. The firm’s AppWorks Fund III (US$150 million), vintage 2018, currently posts an annualized IRR of 92.9% and has also begun to generate substantial distributions.

To further drive the growth of the AppWorks ecosystem, the firm is actively recruiting investment associates passionate about venture capital in Taiwan, Southeast Asia, and the global web3 industry. AppWorks offers globally competitive pay and packages, with salaries ranging between US$92,000 to US$180,000, and annual childcare assistance of US$12,000 for each child 0-6 years old. 

Alyssa Chen – Principal

Alyssa Chen oversees the AppWorks Accelerator, Wistron Accelerator, as well as AppWorks alumni, mentor network, and community programs. Alyssa joined AppWorks as an intern during university, later returning to the firm as an Analyst in 2016 and promoted to Associate in 2019. During this period, Alyssa drove the rapid growth and regionalization of AppWorks Accelerator, incorporating the core mandate of AI, blockchain, and Southeast Asia (“A.B.S.”) and successfully implementing a hybrid in-person/digital model for the accelerator in response to the global pandemic. In 2021, Alyssa successfully launched the Wistron Accelerator vertical accelerator in cooperation with Wistron.

Ching Tseng – Principal

Ching Tseng oversees AppWorks investments in global web3 projects, and started with the firm as an intern in 2015. Joining the firm after graduation as an analyst, Ching was promoted to Associate in 2019. With a passion for blockchain and its associated applications, Ching has built the firm’s web3 practice from the ground up as an early mover in Asia’s web3 ecosystem, bridging Taiwan to global projects and teams. Select investments include Dapper Labs, Animoca Brands, Blocto, and CHOCO TV (acquired by LINE), among others.

Jun Wakabayashi – Associate

Jun Wakabayashi leads the day-to-day operations of AppWorks Beacon Funds, overseeing investment activity in Greater Southeast Asia and coaching the accelerator team. Born and raised in the United States, Jun joined AppWorks as an Analyst in 2017, driving the regionalization process of the AppWorks platform, and engaging with startup communities in Greater Southeast Asia, gradually winning the trust of entrepreneurs, investors, and ecosystem builders. Jun’s efforts have enabled AppWorks Accelerator to attract outstanding entrepreneurs in Southeast Asia, generate tangible results for the AppWorks Beacon Funds, and investing in regional startups including EMQ and Beam.

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

長期耕耘大東南亞新創生態的 AppWorks，在今日宣佈完成新一輪晉升與組織升級。將加速器升級為事業單位，並由投資經理升任協理的陳敬旻帶領；同時也成立 Web3 事業單位，晉升投資經理曾意晴為協理帶領；同時，AppWorks Beacon Funds 計畫，由分析師升任投資經理的若林純 (Jun Wakabayashi) 主導。此外，AppWorks 也持續提高薪資福利，貼近國際同業機構的水準，截至 2021 年底，AppWorks 合夥人以外同仁的平均年薪為 334 萬新台幣，年成長 26%。

透過組織機構化、內部晉升以及提高薪資福利，AppWorks 希望持續吸引、留下優秀人才，因此更系統化的協助創業者、企業等生態系各面向的利害關係人，幫助台灣抓住 AI、Web3、東南亞等典範轉移，所帶來的崛起與轉型機會。

AppWorks 加速器事業單位的策略目標，除了繼續招募來自 ABS (AI、Blockchain、Southeast Asia) 三大成長引擎的優秀創業者，加入每年兩屆的 AppWorks Accelerator，深化 AppWorks 生態系與創業者社群，也將加速開展與大企業的合作，推動以大企業為主體、AppWorks 協力營運的垂直加速器，協助大企業更有效率、更具規模的與各式新創展開策略合作，順利完成數位轉型。

AppWorks Accelerator 自 2010 年成立以來，畢業的活躍新創已達 435 家、共 1,402 位創業者，所有新創加總年營業額達 139 億美元、累計募資達 47 億美元、為台灣與區域創造 20,169 個就業數。由 AppWorks 與緯創，在 2021 年展開合作的 Wistron Accelerator 垂直加速器，也將同步以每年兩屆的速度，招募優秀的 AI、物聯網、雲端、資安、教育與醫療新創加入。

帶領加速器事業單位的協理 (Principal) 陳敬旻 (Alyssa Chen)，經營包括 AppWorks Accelerator、Wistron Accelerator 等服務，以及 AppWorks 校友、Mentors 等社群，同時長期擔任 CEO 峰會秘書。樂於陪伴創業者打造出屬於自己的火箭，大學時期曾於 AppWorks 實習，碩士畢業後加入華山文創園區，負責新銳文創品牌的招商與媒體合作。2016 年回到 AppWorks 擔任分析師 (Analyst)、2019 年升任經理 (Associate)，期間帶領 AppWorks Accelerator 快速成長與區域化，2018 年重新定位為專注於 AI、 Blockchain 的加速器，2020 年起隨疫情轉型為 Hybrid 模式，2021 年成功與緯創合作推出垂直加速器。畢業於政大德文系、政大國際傳播所。

另一方面，成立 Web3 事業單位的策略目標，是在技術、商業模式、產業結構更加快速變動與疊代的 Web3 典範轉移中，讓 AppWorks 能有更豐沛的資源與能量，協助優秀的區塊鏈創業者提升擴大顛覆的範圍與速度，並全力幫助 Web1 / Web2 的校友新創，更快 Pivot 到 Web3。AppWorks 從 2018 年開始聚焦在區塊鏈的發展以來，至今已加速、投資來自 Web3 領域共 75 家活躍新創、141 位創業者，佔整體生態系超過六分之一，著名的 AppWorks Web3 生態系新創包括 FLOW / Dapper Labs、Figment、Animoca Brands、Blocto、Concept Art House、XREX、Dappio、XY Finance / Steaker、LikeCoin、Numbers Protocol、Lootex、Matters、Pelith、Fandora NFT…等。

帶領 Web3 事業的協理曾意晴 (Ching Tseng)，大學時曾於 AppWorks 實習，2015 年政大企管系畢業後，正式加入擔任分析師，期間代表 AppWorks 從 A 輪協助 CHOCO TV 一路到被 LINE 併購退場。2019 年升任經理，主要負責招募區塊鏈新創與投資，帶領 AppWorks 從無到有，長出蓬勃 Web3 生態，並站上國際一線區塊鏈投資舞台，主導 Dapper Labs / Flow、Animoca Brands、Blocto 等成功投資案。

AppWorks Beacon Funds 策略，則是 AppWorks 邁向區域化，打造創投、加速器生態系的重要基礎之一。過去幾年來，AppWorks 以管理公司自有資金陸續投資包括 Pantera、Animoca Ventures、AC Ventures、Asia Partners、Golden Gate Ventures 等在內，專注 Web3 與大東南亞不同國家、領域、階段的超過 20 支創投基金，除了輸出 AppWorks 長期經營創投、加速器、新創生態系的 Know-how 外，也透過與各創投的合作，掌握優異投資機會，交換盡職調查成果，並協力輔導共同投資的新創。目前，AppWorks 約三分之一的投資案源，來自 AppWorks Beacon Funds 所投資的創投基金。未來，AppWorks 將持續耕耘這項策略，加速大東南亞創投生態成熟，並擴大 AppWorks 的觸角，預計將以每年投資超過 10 支創投基金的速度佈局。

主導 AppWorks Beacon Funds 策略的投資經理若林純，長期負責大東南亞的投資與加速器團隊輔導。在美國出生、成長，2017 年加入 AppWorks 擔任分析師，隨後帶頭推動 AppWorks 平台區域化，長期持續拜訪、經營東南亞各國新創社群，一個個贏得創業者、投資人、生態系建立者們的信任。他的努力讓 AppWorks Accelerator 吸引越來越多優秀東南亞創業者、幫助 AppWorks Beacon Funds 計畫開花結果，同時也讓 AppWorks Funds 得以投資像是 EMQ、Beam 等區域級新創。加入 AppWorks 前，任職於 Focus Reports，負責採訪各國高級官員與業界高層，完成多個不同領域的深度市場研究。父親來自日本、母親來自台灣，除了美國與台灣之外，曾旅居 7 個國家，遊歷 50 多國。於紐約大學史登商學院取得財務學士學位。

AppWorks 決定在 2022 年初啟動本輪組織升級，主因 2021 年隨著 91APP、FLOW 等投資案陸續開花結果，AppWorks 旗下管理的創投基金獲利進一步提升。2014 年成立，原始規模  5,100 萬美元的 AppWorks Fund II，最新年化內部報酬率 (IRR) 為 29.3%，已分配收益倍數 (DPI) 也來到 1.34 倍，也就是原始投資每 100 元的基金股東，已領回 134 元的實質收益。2018 年成立，原始規模 1.5 億美元的 AppWorks Fund III，目前年化內部報酬率達 92.9%，也開始產生實質受益分配。

為了進一步抓住 AppWorks 加速器生態，以及 AppWorks Beacon Funds 所帶來的大量優質 ABS 案源，AppWorks 預計今年第二季展開目標 3.6 億美元的 AppWorks Fund IV 募集，也因此提前展開組織升級。同時間，在公司大幅獲利與邁向專業機構化的過程，AppWorks 也持續與同仁分享成果，除了感謝大家的付出，也期待能以拉齊國際同業機構的薪資福利，吸引一流好手加入。

截至 2021 年底，AppWorks 合夥人以外同仁的平均年薪，較 2020 年成長 26%，來到 334 萬新台幣，其中投資經理與分析師等專業投資人員 (Investment Professionals)，年薪落在 250 萬到 500 萬新台幣間。此外，AppWorks 所提供 0-6 歲每胎每月 3 萬新台幣的生育補助，過去兩年來也「催生」了 4 位 AppWorks 寶寶，為逆轉台灣的人口危機貢獻綿薄之力。

AppWorks 董事長暨合夥人林之晨指出：「感謝全體 AppWorks 同仁的齊心付出，我們在 2021 年大有斬獲，且將在 2022 年更上一層樓。在此恭喜 Alyssa、Ching 與 Jun 獲得晉升，將在 AppWorks 下階段機構化過程中，扮演更重要角色。隨著今年啟動 3.6 億美元的 AppWorks Fund IV，AppWorks 將有更大的力量，為台灣與東南亞發展創造更大 Impact，支持更多創業者、加速 Web3 等新興產業茁壯，並且協助更多大企業轉型，在此誠摯歡迎高手加入，一起證明 Taiwan can help startups & Taiwan is helping startups。」

【歡迎所有NFT、Blockchain / DeFi、AI / IoT 以及目標 Southeast Asia 的創業者，加入專為你們服務的 AppWorks Accelerator】

• 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】