AIA Accelerator 4.0 Demo Day
December 15, 2016
AIA Accelerator 4.0 in partnership with KPMG Digital Village held their Demo Day last week on December 7th, 2016 at KPMG’s office in Central, Hong Kong. Six international startups were in this batch, coming from Thailand, Spain, United States, China and Singapore. Interestingly, there was no Hong Kong founded startup.
Corporate X Corporate
This is the accelerator’s fourth batch, and this time, AIA chose to partner with another corporate, KPMG, shifting away from its previous partner – Nest VC. We had high expectations as it was the first Corporate X Corporate startup accelerator demo day we were to attend in Hong Kong.
However, it is not as exciting as we expected…
Compared to the many other demo days we have attended, where guests numbers are usually in excess of 100, the attendance rate for this demo day was surprisingly low with only around 35 guests. This severely impacts the overall atmosphere of any demo day. After the pitches, some founders were standing alone at their booth, while others were milling around. Attendees such as a large pool of investors, press, supportive government representatives – all the people needed for demo day startups to showcase to were absent.
Although Accelerator programs are supposed to accelerate early stage startups to grow the company through education, mentorship, and financing, among 4 out of 6 startups in this program started 4 years ago. This does beg the question – Is there a marker for accelerators of “mature” companies?
Nevertheless, our research analysts have selected the top two best startups from this demo.
Founder: Gal Rimon
GamEffective is a gamification company that focuses on creating graphical narratives to enhance learning experiences and performance tracking. Real-time feedback and gamification are the key elements of the platform to transform engagement, learning and productivity in today’s workplace. Several Fortune 500 companies are GamEffective’s customers, deploying the platform to tens of thousands of employees across various industries for better performance, communications and learnings.
What do we like/dislike about this startup?
Industry: In our view, GamEffective is on the right path. Nowadays more companies are changing their perception towards traditional employee engagement and evaluation systems. GamEffective platform could be a solution to transform corporate performance management, and how goals and objectives are set and measured.
Product: GamEffective has already partnered with international corporations like Microsoft, Yahoo and Hewlett-Packard. According to GamEffective, Yahoo used their gamification product to increase its customer service KPIs by 10% in two weeks. Microsoft with gamification designed by GamEffective motivated participation to a 100% engagement level. Hewlett-Packard similarly observed the immediate result of using GamEffective’s gamification of high engagement rates and much better collaboration. We believe this partnership experience can help the company better enhance their products before a big marketing push.
Synergy with AIA: We believe participation in the AIA accelerator program could provide GamEffective with not only Asia-Pacific market access and industry insights, but also direct access to potential clients in the insurance industry. The industry is well known for its keen competition among individual agents, even if within the same company. GamEffective’s platform could be a new way to help insurance companies motivate their agents internally.
Founder: Sinuhe Arroyo
Founded in 2009, Taiger is a software vendor specialized in using Artificial Intelligence (AI), around semantic and Natural Language Processing (NLP) technology. It can build custom semantic search applications for corporations to make it possible for computers to understand the information humans transmit to them, whether through oral or written. It aims to ease communication between humans and machines.
What do we like/dislike about this startup?
Market: There is market need for AI to help solve problems and reduce cost for corporates. According to Taiger, it has already built business relationships with world-wide banks and insurance companies to help them reduce cost and improve effectiveness of customer services, multimedia search and document information extraction.
Product: Oddup believes the key for Taiger to succeed is the technology behind it. Taiger claims that they already own five patents in the area of computational semantics and have five more in the application process. These will enable direct relationships between humans and computers. Meanwhile, its solutions (iConverse, iSearch and iMatch) fit very well in the Western and European counties market niche with proven market needs. According to the company, they have already reached their breakeven point and are going to achieve revenue of US$30 million next year. Looking ahead, Taiger aims to expand into the Asian market, with its regional headquarters opening in Singapore earlier this year.
Synergy with AIA: We believe AIA could have provided Asia industry insights and networks to Taiger during the program. Meanwhile, AIA can also be one of their potential clients to adopt their technology for customer services, multimedia search and document information extraction.
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