- One-third of Surge 03 companies have at least one female founder
- Surge startups have already raised over US$250 million in subsequent financing
Surge, a rapid scale-up programme for startups in Southeast Asia and India run by Sequoia India, has announced that 15 early-stage startups have been selected for Surge 03 2020.
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| Source: Surge/Sequoia India. The founders of the startups selected for Surge 03 2020. |
The Surge 03 2020 cohort features startups from Singapore, Indonesia, Vietnam and India which are solving a wide range of problems across diverse industry verticals, including with software-as-a-service and development tools in the consumer, food and beverage (F&B), education and health sectors. More than half the current cohort is from Southeast Asia, and one-third of Surge 03 startups have at least one female founder.
Companies from Southeast Asia in Surge 03 include Bukukas, Hangry and CoLearn from Indonesia, Thuocsi from Vietnam together with Pencil, Pentester Academy, Tigerhall and Tinvio from Singapore.
Surge 03, which started on 13 April, is completely online for the first time. Day-long sessions are held once a week for 16 weeks, including for company-building workshops, small group discussions and interactive fireside chats with Surge mentors such as William Tanuwijaya, Founder and CEO of Tokopedia, and Doug Leone, Global Managing Partner, Sequoia Capital.
“Southeast Asia remains a thriving startup ecosystem with a digital and mobile first economy.We’ve had the privilege at Surge to work with founders from Singapore, Indonesia and Vietnam over our three cohorts, and we’ve seen their drive and passion have a real impact in their communities,” said Rajan Anandan, MD, Surge and Sequoia Capital India.
“Surge 03 is no different. We believe it’s important to support founders during not just the good times, but also the tough ones. And we are proud to be able to partner with this current cohort of ambitious founders who are building their companies in one of the most challenging periods in modern history.”
Key features of the Surge programme include:
● Capital
Founders receive a US$1 million to US$2 million Surge round early on in the programme, so they can start hiring and building their product right away.
● Community
Founders will be able to learn, grow and share their journeys with fellow founders from diverse backgrounds and perspectives. They also work closely with founders and leaders from across the globe, such as Tokopedia’s William Tanuwijaya; One Championship’s Chatri Sityodtong, Carousell’s Quek Siu Rui, and Zilingo’s Ankiti Bose.
● Company-building support
Workshops and seminars follow the journey of company-building, from foundational work on leadership, culture and building a winning organisation, to design choices, product and scale, as well as to marketing and brand positioning. Founders also receive advice and help on hiring.
Surge’s engineer programme helps connect founders with seasoned tech talent, right from the start.
● Cross-border exposure
Sessions with Surge mentors from Silicon Valley, China, Southeast Asia and India give founders the chance to understand the global startup ecosystem. Surge 03 founders will also be invited to join the in-country sessions in the next post COVID-19 Surge cohort.
Close to 25% of all Surge applications till date have come from Southeast Asia. Of these, 16% are from Singapore and Indonesia. There has been an upward trend of applications from Southeast Asian startups in the B2B, consumer tech and financial services space, organisers said.
Surge has been designed with an ‘open architecture’ in mind and encourages other investors to come in on the first Surge round, held at the start of each programme. Eighty percent of Surge 03 startups come onboard with institutional co-investors, and close to 50% also have angel investors.
Surge graduates have already raised over US$250 million in subsequent financing rounds. This includes Telio from Vietnam, Zenyum from Singapore as well as Bobobox and Chilibeli from Indonesia.
Since its launch in March 2019, Surge has grown into a community of more than 110 founders from 52 startups, spread across six countries. The programme combines US$1 million to US$2 million of capital for each startup with company-building workshops and support from a community of mentors and founders from companies like Gojek, ONE Championship and Tokopedia. The goal is to supercharge early-stage startups and give founders an "unfair advantage, right out of the gate" by helping founders clear early-stage hurdles to capital, resources, mentors and expert help.
Explore:
View the full list of startups for Surge 03.
Details:
Apply for Surge 04 2020, which kicks off in September 2020.
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