TRIVE pledges to support 250 new Singaporean Startups

Southeast Asian-focused early stage Venture Capital TRIVE (previously known as "TRi5 Ventures"), aims to support 250 new Singaporean startups in the next 30 months via its pro-bono pay-it-forward Community startup program.

It has already aided 12 startups to receive the S$30k Startup SG Founders Grant and currently processing another 20 since May 2018.

Its recent community event, Startup Journeys by TRIVE, at SGInnovate on Thursday, 23rd of August, saw more than 200 attendees and 2 fireside chats with startup founders and ecosystem players.

Icon Partners With Singapore VC Firm Trive, ICX Up 24%

It seems that not a day goes by in Southeast Asia without a crypto partnership announcement. The region truly has become the hub of everything crypto as the US continues with strict regulation and investigation into the embryonic industry.

Today South Korea’s Icon announced that it will be partnering with Singapore based Venture Capital firm Trive (previously known as ‘TRi5 Ventures’). According to the announcement the strategic collaboration is the first of its kind in the VC industry in Southeast Asia. It is aimed to educate, equip and empower the regional startup and blockchain community. Trive invests in technology startups and has over seven years of VC, mentoring and advisory experience.

ICON and TRIVE Join Forces to Improve Southeast Asia’s Blockchain Ecosystem

Things are always evolving behind the scenes of the blockchain industry. ICON, a concept focused on connecting blockchains, is partnering with TRIVE. A close relationship with a venture capital firm is always a positive development. The venture is mainly designed to improve the local blockchaincommunity and educate the region.

ICON partners with TRIVE

May 30th, 2018 — ICON announced its strategic partnership with TRIVE(previously known as “TRi5 Ventures”), a Venture Capital firm based in Singapore. The strategic collaboration, first of its kind in the Venture Capital industry in Southeast Asia, is aimed to educate, equip and empower the regional startup and blockchain community.

New Strategic Partnership Between TRIVE and ICON Foundation

May 30th, 2018, SEOUL — TRIVE (previously known as “TRi5 Ventures”) announced its strategic partnership with ICON Foundation (“ICON”), one of the largest blockchain networks in the world. The strategic collaboration, arguably the first of its kind in the traditional Venture Capital industry in Southeast Asia, is aimed to educate, equip and empower the regional startup and blockchain community.

A deep look into Singapore’s startup ecosystem with TRIVE

resh off the recent rebrand from Tri5 to TRIVE, we sat down with Christopher Quek, Managing Partner, to find discuss the startup scene in Singapore and more broadly Southeast Asia.

There are always healthy discussions around this topic, especially with the amount of money currently being invested in the region.

Christopher had a lot to share, especially about Singapore’s funding landscape and he doesn’t mince his words.

The challenge is that Singapore is uniquely different in terms of a business landscape than the US. With a limited market size, copying such ideas will see limitations. Singapore entrepreneurs fail to understand Singapore’s strengths and weaknesses. I find this mindset inherent due to our education system which is still limiting Singapore founders to think outside of the box and be creative.

What you should expect from your startup mentor

It is a perilous journey for an entrepreneur, especially for the inexperienced. There are no straightforward ways of building a business, as dynamics changes very often in a complex business environment.

I know this, as I too was a young inexperienced startup founder 19 years ago, during the early dot-com era. Whatever I tried applying what I learnt in business school always fall short of success. I failed to understand the nuances of running a business.

Unfortunately, schools only teach the science of business, but fail to talk about the art of business, from culture, negotiations, hiring or real-life understanding of how businesses actually work. Read more.

TRi5 Ventures rebrands to TRIVE, offers free administration of Startup SG Founder Grant

South-east Asian-focused TRi5 Ventures has rebranded to a new name TRIVE, with a new tagline to help great people build greater companies.

Christopher Quek, Managing Partner, shares in an email, “Over the last 7 years, my team and I have been actively investing and paying-it-forward to build a thriving startup ecosystem in Singapore and the region.

We have been inspired by the thousands of individuals, mentors, fellow VCs, partners, institutions, governments, friends and associates whom we have met and walked together with us in this incredible journey.

TRIVE represents our new aspirations for the future, while celebrating our past, challenging ourselves to progress and transform, while placing the community at the heart of all that we do.”

Through the next 12 months, TRIVE will roll out initiatives under three thrusts: Ventures, Community and Advisory.

Tri5 Ventures announces seed funding into Park N Parcel

The team has shown us the Singapore entrepreneurial spirit and we are energised to partner with them in their global expansion.

Welcome to the family!
 

Park N Parcel, a Singaporean last-mile logistics startup, thinks it has the solution to this problem. It has just announced it received US$648,000 in seed funding from TRi5 Ventures and a group of angel investors last month.

S'pore Logistics Startup Park N Parcel Secures $850K Funding - Propels Expansion To Japan, HK, Thailand

Just last year, we introduced new startup Park N Parcel, which wanted to solve the perennial problem of missed parcel deliveries with a simple solution.

Their solution is using individuals that the startup calls ‘Parkers’, who volunteer to be parcel drop off and pick up points for their neighbours. For each successfully delivered parcel, ‘Parkers’ would earn $1.

Founded by 3 young Singaporeans, Erik Cheong (Co-Founder & COO), Bryan See Toh (Co-Founder & CEO), and Tan Gan Hong (Co-Founder & CFO), Park N Parcel is a startup under NUS Enterprise’s portfolio, and was launched in Jan 2017.

Logistics startup Park N Parcel raises US$648K, aims to enter 3 new markets by Q4 2018

Singapore-based logistics startup Park N Parcel today announced that it has raised a S$850,000 (US$648,000) seed funding round led by Southeast Asia-focussed venture capital firm TRi5 Ventures and a group of undisclosed angel investors in March 2018.

The startup plans to use the new funding to:

1. Strengthen its core leadership team
2. Expand into Thailand, Hong Kong, and Japan by Q4 2018
3. Scaling its clientele base

The startup was one of the 63 startups chosen for Echelon T0P100 Qualifiers in Singapore.

Singapore's Park N Parcel raises $648k in Tri5 led round for Asia expansion

Singapore’s last-mile logistics startup Park N Parcel has raised a $648,000 seed funding round led by Tri5 Ventures and a group of angel investors. Park N Parcel allows users to have their online shopping haul delivered to registered residential and commercial parkers within a 1 km radius of their homes to be collected at their convenience. The startup has already built a pool of over 1,500 parkers in Singapore. The proceeds of the fresh funding will be used to strengthen the company’s core leadership team and for expansion into Thailand, Hong Kong and Japan by the fourth quarter of 2018, Park N Parcel co-founder Bryan See Toh said. Moreover, the team plans to expand its client base through partnerships with e-commerce platforms and logistics companies. Tri5 Ventures made the investment through one of its three funds, Singapore Seed Fund, that has earlier backed other startups such as Refash and Upcode Academy.

Read more at: https://www.dealstreetasia.com/stories/park-n-parcel-tri5-96438/

Russian neuroscience marketing startup raises seed funding from TRi5 Ventures, establishes in Singapore

SINGAPORE – NeuroTrend Pte Ltd, globally recognised neuroscience technology company, which originated from Russia, and will expand its global presence through Singapore, has raised an undisclosed seed round from TRi5 Ventures. NeuroTrend looks to partner with creative agencies and media companies to launch the first-of-its-kind next generation neuromarketing consumer insights lab to provide a deeper level of consumer insights for advertisers.

According to a recent study released by MAGNA, IPG Media brands' research arm, global advertising spends in 2016 was USD $493b, and USD $44.5b was spent on market research and the Asia-Pacific region is forecast to see a growth rate of 5.4 percent. Advertising agencies and broadcast media companies are now turning to data analytics to further deepen their engagement and effectiveness of advertisements.

Natalia Galkina, CEO, NeuroTrend Pte Ltd, says, “Over the recent past, neuro scientific technology has played a key role in helping companies optimise their marketing dollars. It is today considered a serious research area that is scientifically sound, genuinely interesting field in cognitive science, where the response to products and consumer decision-making is understood on the level of body and mind. We are confident that creative agencies and media companies in this region will benefit immensely from this new-age technology.”

Focus group respondents are analyzed via an Electroencephalography (EEG) headset, an eye tracker, a polygraph instrument and a facial reader camera. These non-invasive hardware are integrated to collect signals from the brain, eye movements, physiological measurements and facial expressions which are then sent to a server.

NeuroTrend will then analyse the data by its patented neuroscience complex software and algorithms enhanced by artificial intelligence, focusing on the parameters of interest, emotions, attention and memory. A report will then be generated which will advise the media company on how the advertisement, which could be print or video, can be optimised for maximum impact.

Christopher Quek, Managing Partner, TRi5 Ventures, says, “NeuroTrend is our first foray in investing in deep scientific technologies. We are impressed by the level of IP development that Natalia and her team of 50 scientists and researchers have done. NeuroTrend’s decision to be based out of Singapore is aligned to our investment goals of commercializing IPs via Singapore.”

About NeuroTrend Pte Ltd

Neurotrend Pte Ltd is the Singapore-based entity of JSC NeuroTrend (Russia), which holds the IP rights of all neuroscientific technologies for the company outside of the CIS countries.

Since its founding in 2011, JSC NeuroTrend (Russia), has provided over 1000 consumer insight reports to a large number of companies including several international brands. JSC NeuroTrend has over 50 specialists in all areas of neuromarketing including well known professors in neuroscience and senior PhDs etc as part of the team.

NeuroTrend Pte Ltd intends to expand rapidly overseas with a target of over 200 labs in all the major cities within the next four years via partnerships with advertising agencies and media companies.

NeuroTrend will also establish a research and development lab in Singapore to develop its neuroscience capabilities, as well as an analytics lab of engineers and scientists to support its Russian facility in generating consumer reports for clients.

 

About TRi5 Ventures

TRi5 Ventures is a Singapore-based early-stage Venture Capitalist that actively supports and grow startups in commercializing IPs and expanding globally via Singapore.

Ho Chi Minh City-based CoderSchool Raises Seed Funding to Train Developers in Vietnam

HO CHI MINH - CoderSchool, established in Ho Chi Minh City by Silicon Valley founders in 2015, has raised anundisclosed seed funding round from Singapore-based Tri5 Ventures to train and upskill world-class software developers in the emerging Vietnam tech scene.

The funds will be used to relocate to a larger campus in Ho Chi Minh, grow the business and instruction team, as well as expand to other Vietnamese cities of Hanoi and Danang. CoderSchool aims to train and place a target goal of 1500 developers in the 3 major cities, Ho Chi Minh, Hanoi, and Danang in the next 3 years.

According to a VNExpress article, the number of tech jobs have risen over the last three years. Vietnam currently employs 250,000 engineers and the estimated demand estimated is expected to be 400,000 by 2018. A survey showed a 2-year experienced engineer is estimated to earn a maximium of US$1,160 per month and looks set to rise further.

The Vietnamese startup ecosystem is growing at an accelerated pace. In a recent report by Vietnam Briefing, 39,850 new startups were incorporated in the first four months of 2017 alone. The Saigon Silicon City Center will be a startup hub to incubate startups and expected to attract over US$1.5b in investments by 2020. The fintech industry has also received US$129m in investments.

CoderSchool is founded in 2015 by Charles Lee and Harley Trung, two computer science graduates who hail respectively from UC Berkeley and Yale in Silicon Valley. Since then, the school has conducted 23 programming cohorts with 312 graduates.

Charles Lee says, “There’s an obvious global shortage of engineers, but it is even more pronounced here in Vietnam due to strong demand from overseas. Vietnam may be the best place in the world to find hardworking, talented young engineers. Salaries are rising but are still dramatically lower than other parts of the world.

TRi5 Ventures is a believer of training programmers to support the growing needs of startup ecosystems of the region and world. Their investment and experience in programming schools will be strategic in aiding us to grow. Furthermore, their deep connections into the regional startup tech communities is a bonus to provide our world-class graduates with world-class jobs.”

CoderSchool alumni have gone on to work at leading tech companies such as Uber, Grab, Fossil, TinyPulse, Lazada, Okiela, Sentio, Saleshood, Zalora, Mingle, Wizeline, 2359 Media, and Silicon Straits.

Mr Ting Yan LECK, Investment Director at Tri5 Ventures, explains the investment into CoderSchool. “Vietnam is a known hub for companies in Singapore, Australia and other countries to outsource software development. This has significantly increased the demand for advanced software engineers. CoderSchool has built a good reputation in Vietnam for training over 300 programmers in 23 classes. We believe the school is poised to take advantage of the growing opportunities in the programming schools sector.”

CoderSchool Intro Video -[embedyt] https://www.youtube.com/watch?v=vnbT8xiBDWI[/embedyt]

Media Contact Anh Hoang Partnerships Director anh@coderschool.vn +84 898 158 690 (Vietnam)

About CoderSchool (Coderschool.vn)

Coderschool is founded in 2015 by Charles Lee and Harley Trung, two computer science graduates who hail respectively from UC Berkeley and Yale in Silicon Valley. Since then, the school has conducted 23 programming cohorts with 312 graduates. CoderSchool alumni have gone on to work at leading tech companies such as Uber, Grab, Fossil, TinyPulse, Lazada, Okiela, Sentio, Saleshood, Zalora, Mingle, Wizeline, 2359 Media, and Silicon Straits.

CoderSchool’s curriculum, originally developed in Silicon Valley, is based around real-world examples, multi- modal learning, and carefully-spaced repetition. In addition to several weeks of discussion, lecture, and hands- on lab time, students spend much of their time building real-world applications from scratch.

Applicants to Coderschool are required to pass a rigorous selection process to be admitted, and must exhibit strong teamwork skills in addition to individual technical excellence. CoderSchool focuses on imparting developers with the skills and working styles of global tech startups with development teams based in Vietnam as well as other large MNCs. CoderSchool has taught courses in web development Ruby on Rails, NodeJS and mobile development in iOS, Android and React Native. In addition to regular Demo Days, which have seen as many as 500+ attendees per event, CoderSchool hosts regular meetups for the community featuring guest speakers on exciting new technologies and topics, such as Data Science, Machine Learning, Artificial Intelligence, Cloud Microservices, Chatbots, and even Electric Vehicles

About TRi5 Ventures Tri5 Ventures is a Singapore-based early-stage Venture Capitalist which invests in South-East Asian technology startups. It has recently made a US$220k investment into UpCode Academy, a Singapore-based programming school.

TRIVE ventures invests in IOT startup that makes training assistance wearables

SINGAPORE – ATHLEDE Pte Ltd, a sports lifestyle hardware tech company, has received a S$40,000 angel funding and Startup SG founder grant from TRi5 Ventures to develop training assistance wearables that do more than just tracking people’s exercise and fitness.  TRi5 Ventures is an Accredited Mentor Partner of SPRING Singapore.

ATHLEDE is co-founded by Kwok Cheong WONG (KC), a graduate of SIM’s Platform E IntensE entrepreneurship programme and his programme mentor, Dr Bert Grobben. Dr Grobben is also CEO of Venture Builder Budding Innovations.

 

A Singaporean coding school is turning engineers into teachers, raises funds from Tri5 Ventures

UpCode Academy, a coding school in Singapore that sources technology professionals as teachers, announced today it has raised a S$300,000 (US$220,000) seed round from Tri5 Ventures. The company has previously been backed by 500 Durians — the Southeast Asia-focussed fund from 500 Startups.

The money will be used to build its classrooms and acquire more students and teachers.

The company is also working on an online platform so people can crowdsource the best professors and the classes they want. This product is expected to be launched in January 2018.

Also Read: Thai logistics startup GIZTIX raises Series A funding round

UpCode Academy was started in September 2017 and has run 16 courses for over 300 students. The types of classes it runs are in the following genres:

  • Data Science and Machine Learning
  • Hardware Engineering
  • Deep-Tech: Clean Energy and Med-Tech
  • Fintech
  • Web and Mobile App Programming
  • Cybersecurity

What makes UpCode Academy unique as a coding school is it does not employ full-time teachers. Instead, the company uses current working professionals to teach students.

The goal of this strategy is to make sure the engineering being taught are on the cutting edge of industry standards. The company is currently working with Google, Airbnb, Grab and Carousell.

UpCode Academy was started by ZP Lee — a college dropout who built 40Tasks, a mCommerce platform that rode the wave of Singapore’s flash deals trend from a few years ago. Lee is a self-taught coder who is now capable enough to lecture part-time at Singapore Polytechnic and Singapore Management University.

“I’m someone who jumped into tech without any formal education background. I understand the fears of many people similar to me. But believe me, the rewards and fulfillments of working in tech is worth the effort,” he said in a statement.

Tri5 Ventures previously invested in 40Tasks.

Also Read: In building businesses, Platform E puts the focus on entrepreneur and vision

Universities, while they seem to understand the importance of teaching code, oftentimes move too slowly to provide students with hire-ready skills upon graduation.

“We see many graduates leaving schools without any tech skill sets relevant to companies. Even current tech professionals feel their skill sets aging because of the rapid changes in the industry. Companies are willing to pay big bucks to look for talents with in demand skill sets, such as data science and machine learning,” said Lee.

Tri5 Ventures is a VC based in Singapore that targets angel and seed-stage companies in Southeast Asia.

This article first appeared on e27.

BEAM launches VentureStart program in Singapore, collaborates with TRi5 Ventures to fund and grow 20 new startups

SINGAPORE — Business social networking company, BEAM today announced a strategic partnership with early-stage VC TRi5 Ventures to launch VentureStart, an entrepreneurial development program that brings more support to budding entrepreneurs building startups in Singapore. The new strategic partnership is focused on 2 key areas:

1) To provide up to S$50k early stage financing to entrepreneurs, and

2) to provide a holistic support system for new startups that covers business/technical support, mentoring, community events, financing, market access, customer acquisition, media coverage.

BEAM will tap into TRi5’s pool of over 60 mentors from the NEXT50 initiative. These mentors and industry experts have startup background experiences who will help to provide guidance, insights, and support to entrepreneurs out there.

“With the speed of disruptions and innovations happening globally, it is now more essential than ever to mentor startups to get up to speed and be globally competitive from day one. Hence, the imparting of knowledge and the sharing of experiences, especially during the early stages, are essential in building startups with a solid foundation”, mentioned Christopher Quek, managing partner of Tri5 Ventures.

To further boost the success of startups, BEAM will facilitate the SG Startup Co-Investment Grant (SG Founders Grant) of up to $50,000 to first-time Singaporean founders starting out on their ventures. This co-investment grant is a combination of a $30,000 grant from SPRING Singapore and up to $20,000 equity investment from Tri5 Ventures.

“Entrepreneurship can be a long and lonely journey. With a holistic support system for founders to tap into insights, connections, financing, and more, we believe this will bring tremendous value for the many new and aspiring entrepreneurs building startups. We hope that this raise the overall calibre of entrepreneurs and bring forth a new generation of innovative and transformational companies”, mentioned Kenneth Ho, CEO of BEAM.

 

About VentureStart Program

The VentureStart Program is a startup support and development program by BEAM focused on bringing continuous resources, support, and leverage to entrepreneurs throughout their journey of building their companies.

The program is conducted on a rolling basis (not cohort basis) where entrepreneurs are supported throughout the idea/prototyping, go-to-market, fundraising, and expansion stages of their ventures in the following areas:

  • Business and Product Development assistance directly from the BEAM team. An online point of contact will be established to get quick help at any point in time.
  • Warm Introductions to valuable business connections.
  • Access to over 60 mentors and experts.
  • Access to invite-only events, trainings, and support sessions.
  • Media coverage and press release distribution.
  • Customer acquisition support and marketing assistance to reduce advertising costs.
  • Grant financing via the SG Founders grant (for first time founders in Singapore)
  • Fundraising support, strategizing, and legal assistance.
  • Market access and field trips to other parts of the region (Malaysia (Kuala Lumpur, Johor, Penang), Singapore, Japan (Tokyo), Taiwan (Taipei), China (Wuhan), Australia, Indonesia, and Thailand).
  • Hiring & HR support.
  • Participation in entrepreneurial support groups.

 

The strategic partnership aims to produce 20 new Singapore-based startups of verticals aligned with Singapore’s thrust of deep technologies and Smart Nation initiatives in the next 12 months.

“I have received feedback from fellow VCs that dealflow quality and quantity at early stages, are essential in building startups with a solid foundation. With a wide range of mentors from across industries on board, we are certain that the startup founders will benefit more from a variety of quality perspectives”, mentioned Christopher Quek, managing partner of Tri5 Ventures.

VentureStart is now accepting applications.

NEXT50 strives to pay-it-forward with the conviction of grooming Singapore’s next generation of entrepreneurs

Representing the movement for and by the entrepreneur community, the NEXT50 initiative (“NEXT50”) has been launched with the aim to provide complimentary one-on-one mentoring sessions for early stage start-ups that are aiming at disrupting the market with innovative technology solutions. Founded by Christopher Quek, Managing Partner of Tri5 Ventures, the initiative will pay-it-forward and be catered to Singapore-based startup founders seeking business advisory.  

“Paying-it-forward is an important aspect of building a vibrant start-up ecosystem. We recognise the importance of grooming a generation of Singapore entrepreneurs to participate in the next 50 years of economic growth of the nation,” said Christopher Quek.

 

[embedyt] https://www.youtube.com/watch?v=IJS3RVfKGI0[/embedyt]

 

“With the speed of disruptions and innovations happening globally, it is now more essential than ever to mentor startups to get up to speed and be globally competitive from day one. Hence, the imparting of knowledge and the sharing of experiences, especially during the early stages, are essential in building startups with a solid foundation. With a wide range of mentors from across industries on board, we are certain that the startup Founders will benefit more from a variety of quality perspectives”, added Christopher Quek.

 

TRi5 Ventures are not new to the pay-it-forward movement. To date, the TRi5 Ventures team alone has conducted over 800 complimentary one-on-one mentoring sessions over the past seven years. These sessions were done in conjunction with their sister company, Angels Gate Advisory, an appointed iJAM incubator by the NRF. Angels Gate Advisory assisted 38 Singapore startups raise an aggregate of S$7.5m in grants and follow-on funding.

 

To expand on these achievements, a team of over 50 business and technical mentors has also been put together for NEXT50 Belonging to a variety of backgrounds, the team of mentors are carefully curated based not only on their skills and experience, but also their passion and motivation to nurture the next generation of entrepreneurs. They include startups Founders, traditional businessmen, data scientists, medical scientists, digital marketers, software engineers in the fields of fintech, logistics, Food and Beverage, eCommerce, HR, SaaS, legal and education.

 

John Paul Chen, Managing Director of SaltyCustoms, a mentor onboard NEXT50 commented, "It is important for mentors to share their experiences and knowledge so that future generations have the head start they need to propel Singapore forward. I believe it's a small pay-it-forward movement that collectively, would represent a sizeable impact in the future."

 

Startup Founders will be able to seek advice on a variety of topics that are related in the early stages of building a company. Zheng De Lee, co-founder of Packdat, who is continuing his mentorship sessions with Christopher Quek into the NEXT50 initiative, says, “A mentor is someone more than an industry expert. He plays the role of an advisor personally. Chris has been extremely giving in his advice both personally and on my startup. I believe I have grown (and still growing) both in my startup Packdat and personally."

 

Interested startup founders may find out more at http://tri5.asia/next50/.