Early-stage focused VC firm 500 Startups on Friday announced the graduation of the first batch of its Global Launch programs, which included 24 startups from a wide range of sectors, according to a statement.
The accelerator programs were run in Singapore and San Francisco in partnership with Enterprise Singapore under the Global Innovation Alliance network. Experts and mentors from 500 Startups helped formulate, test, and define go-to-market plans, while connecting participants with potential investors, customers, and channel partners through networking events.
Some managed to snatch funding during their program. “Despite market conditions, we were able to raise our USD 1.1 million pre-Series A while attending Global Launch Singapore, as well as secure commercial partnerships with several large insurance providers in Singapore,” said Jeremy Ting, president and co-founder of Naluri, a digital therapeutics startup.
The programs provided Singaporean startups the opportunity to expand their market to the US and vice versa. “The program connected us to an amazing group of mentors who embody Silicon Valley’s startup experience and ethos,” said CEO and founder of Evie.ai, Jin Hian Lee.
500 Startups opened up applications for its second cohort on July 13. The 16-week programs will run in two parts—the first eight weeks as a prep phase are held remotely, while the second phase will be in-person.
(The article has been updated to correctly reflect that Global Launch comprises two programs, Global Launch Singapore and Global Launch San Francisco)