the silicon straits tribe
DESCRIPTION
Corporate profile of the Silicon Straits group, an innovation tribe in Asia Pacific that is building a better platform for designers, engineers & entrepreneurs to get together, be inspired, make things and start or grow companies. Silicon Straits has offices in Singapore, Ho Chi Minh City and Yangon, and oversees investments in the United States, United Kingdom, Hong Kong and Singapore.TRANSCRIPT
Investing in the convergence of design, hardware & software Operating at the intersection of ideas, talent & capital
BUILDING A BETTER PLATFORM FOR DESIGNERS, ENGINEERS & ENTREPRENEURS
TO GET TOGETHER, BE INSPIRED, MAKE THINGS AND START/GROW COMPANIES.
Corporate Profile
12 August 2014
Venture Capital, Incubation & Advisory
Product Development Foundry
Community & Business Support Services
UI/UX, Ruby, iOS, Android
We incubate, invest & advise early-stage
startups.
We build web & mobile products for ourselves and others.
We provide community & business support services for individuals &
businesses for profit & non-profit.
US$5M seed fund; 24 investments across US & Asia Pacific (circa
2010)
NRF TIS incubator; S$50K-100K investment
matched by S$250-500K at 1:5 ratio
The Silicon Straits Group :: dynamic pieces, loosely joined
Co-working, Fab Lab, Startup Community
Management
1. Introduction ACRA UEN No. 201005970E
The Silicon Straits Group :: from MVP to scale
Cumulative Revenues
2010 1H2010 2H2010 1H2011 2H2011 1H2012 2H2012 1H2013 2H2013 1H2014
Employees
22 Mar 2010 2H2010 2H2011 2H2012 2H2013
49 pax
5 Jul 2013
1 Jan 2014
40 pax
4 pax
5 pax
1. Introduction
Investment Track Record
Acquired by Eventbrite in Sep ‘2013, amt. undiscl.
Acquired by Apple in Aug ‘2013, amt undiscl.
Acquired by Yelp in Jul ‘2013 for US$12.7M
Acquired by Rakuten in Sep ‘2013 for US$200+M
S$1.76M
22 Mar 2010
ACRA UEN No. 201005970E
The Silicon Straits Group :: stellar team, seasoned advisors
James Chan Founder & CEO
Kent Nguyen CTO
Andy Bui Head, Vietnam
Adrianna Tan VP, Community
Kaung Sitt Head, Myanmar
1. Introduction
Joichi Ito Director, MIT Media Lab
Kia Hong Lim Chairman & CEO, SIS International
Dileep Nath Angel investor, co-founder of Kanbay
Teruhide Sato President & CEO, Beenos (TYO: 3328)
Ivan Lee Founder, Thai Express
ACRA UEN No. 201005970E
Digitization & Networking are contributing to economic growth at a pace that outstrips pace of Industrial Revolution.
99% of things in physical world not linked to the Internet (yet)..
1%
Industrial Revolution
A.D. 1760 A.D. 1945 A.D. 1982
Internet
A.D. 2013
Atomic, Jet & Space Age
Source: “The Global Information Technology Report 2013 - growth & jobs in a Hyperconnected World” - INSEAD-WEF collaboration
30%.. ..of global Internet revenue 40%.. ..of global Internet net income
Source: “Internet matters: The Net’s sweeping impact on growth, jobs and prosperity” - McKinsey & Company
2.0b connected to Internet.. ..out of global population of 7b
>50% of world’s population live in cities.. ..out of global population of 7b
1. Introduction ACRA UEN No. 201005970E
The Internet matters :: almost every vertical or industry is
either cannibalised by it, or scales with it.
At peak in 1996, 100,000+ staff, US$31B market value wiped out,
bankruptcy
13 staff & US$1B exit to Facebook in 2012
from printed to digital
from in-person to online
from 1-way/physical media to 2-way/digital
from discrete/in-person to on-demand/
online
At peak in 2004, 60,000+ staff, 9,000 stores, bankruptcy
from in-person/physical to card-not-
present/digital/mobile
from insecure/untraceable/upfront to secure/traceable/
escrow
from time-limited/physical presence/inventory cost to
always-on/digital/just-in-time
from large pallet logistics to loose-
item forward-reverse logistics
Typewriter to Word Processor to Cloud
and many more...Fixed-line to Mobile Telephony to Mobile Data Mass production to mass customisation
1. Introduction ACRA UEN No. 201005970E
12/09
Silicon Straits appointed as incubator partner for NRF TIS
4/10
1st fund opens
5/10
1st fund initial close.
7/10 9/10 10/10 2/11 3/11 4/11 5/11 6/11 7/11 8/111/11 10/11 11/11 12/11
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2/12 5/1211/09
James starts partnership with Joi Ito for 1st fund.
co-investments with the National Research Foundation as part of TIS programme
Neoteny Labs US$5M fund :: 24 startups in 2 years averaging
US$50K - US$500K / investment
2A. Venture Capital, Incubation & Advisory ACRA UEN No. 201005970E
Acquired by Eventbrite in Sep ‘2013, amt. undiscl.
Acquired by (undiscl.) in Aug ‘2013, amt undiscl.
1st fund has returned US$6.7+ (1.34x) 4 years after its initial US$5M raise with further US$9.1M in unrealised value.
Exits Remaining Portfolio from 1st fund
Deadpool
Acquired by Yelp in Jul ‘2013 for US$12.7M.
Acquired by Rakuten in Sep ‘2013 for US$200+M.
4 exits, 7 write-offs (US$546.97K, 13.7% of deployed capital), 13 remaining (US$2.37M, 59.5% of deployed capital) on unrealized AUM of US$9.1M (3.84X CoC)
Investments from B/S
2A. Venture Capital, Incubation & Advisory ACRA UEN No. 201005970E
Product Development Foundry :: building web and mobile
products for individuals & companies
32-pax team in 4,000 sq ft 2-floor office in Ho Chi Minh City, Vietnam Design, UI/UX, Ruby-on-Rails, iOS & Android + internal “lab” projects (products)
Time-materials basis, $250 per pax per man-day
147 Ton Dat Tien Street, Phu My Hung, Ho Chi Minh City agile web & mobile product dev open concept
1st floor - Events, F&B, Co-working
2nd floor - Office
Stuff built by us: www.geeky.vn HTML 5 version of Silicon Straits mobile appiPad app of Silicon Straits Saigon’s mobile portfolio
2B. Product Development Foundry ACRA UEN No. 201005970E
Product Development Foundry :: best-of-breed tools and
proven process
2B. Product Development Foundry ACRA UEN No. 201005970E
We can build & deliver :: sample project #1
• Completely new architecture, re-write and database migration of vPost web app in 3 months.
• Custom CMS, banner management, messaging system with multiple user access & management, CRM/eDM/payment integration, e.t.c.
• 1 CTO, 1 PM, 1 UI/UX, 5 Web Dev, 1 Sys Admin on time-materials basis, unclear project scope.
• Project was delivered to client on-time in agile manner via RoR and on time-materials billing basis, at 1/6 price of nearest fixed-price quotation.
• Client has retained team for ongoing maintenance and new feature development.
• Proof of ability to develop & deliver enterprise-grade multiply-redundant mission-critical web app from scratch.
Marcelo Wesseler SVP eCommerce, SingPost
www.vpost.com.sg
2B. Product Development Foundry ACRA UEN No. 201005970E
We can build & deliver :: sample project #2
• Research commercialization collaboration with MIT-SMART, deployable architecture for big data analytics & predictive patrol route recommendation engine for taxis in Singapore.
• 1 PM, 1 UI/UX, 3 Web Dev on time-materials basis, evolving project scope.
• MVP was delivered to client on-time in agile manner via RoR in under 2 months.
• Proof of team’s ability to handle R&D commercialization and big data system architecture in a startup-friendly way.
Afian Anwar CSAIL, MIT-SMARTwww.taxisg.io
2B. Product Development Foundry ACRA UEN No. 201005970E
We can build & deliver :: sample project #3
• Startup product MVP, inspired by Vine with initial release in Indonesia after just 2 months.
• UI/UX, iOS and Android development to achieve consistent user experience on iPhone and Android (down to version 2.3); non-trivial
• Validation of team’s mobile UI/UX and technical expertise.
Carl Wong
2B. Product Development Foundry ACRA UEN No. 201005970E
We can build & deliver :: sample project #4
• One-off project with Japanese-based design agency.
• Mobile (iOS) app development.
• 1 iOS Dev, 1 Back-end Dev.
• Proof of team’s ability to manage complex inter-team communications despite working with design partner of ASICS, and not directly with product owner.
Paul Baron, Partner, AQ
2B. Product Development Foundry ACRA UEN No. 201005970E
We can build & deliver :: other happy clients
2B. Product Development Foundry
SpreeCommerce web development
Development of API wrapper libraries in 4 different languages (Ruby, Python, PHP, C#)
Ruby web development and iOS mobile app
Design & Development of iOS & Android app
UX prototype of payment mobile app
Development of iOS app
Design and development of Myanmar-focused comic e-book Android app
ACRA UEN No. 201005970E
Silicon Straits CO.LAB :: 2,000 sq ft hybrid work space that
blends co-working & rapid hardware prototyping in Singapore
71 Ayer Rajah Crescent, #06-11/12, Singapore 139951 (CUBES magazine Jun/Jul 2014 feature)
2C. Community & Business Support Services ACRA UEN No. 201005970E
Silicon Straits CO.LAB :: bringing together design, hardware &
software community in Singapore
CO.LAB = CO-working, fab LAB, COLABoration
2C. Community & Business Support Services ACRA UEN No. 201005970E
Air Lounge :: hybrid cafe concept in Ho Chi Minh City that
blends F&B and community events
2C. Community & Business Support Services
Playground for team and Saigon tech community.
ACRA UEN No. 201005970E
ideabox :: startup incubation & community
engagement with Ooredoo Myanmar
2C. Community & Business Support Services ACRA UEN No. 201005970E
Other Community Events :: walking the talk
Silicon Straits Drinkathon :: beer-meets-code hackfest bonding between developers, developer assessment under stress, developer recruitment
• Community-led interest group meet-ups, i.e. Ruby SG, NodeBots, Arduino, ProductCamp
• Theme-based events, i.e. design, product management, recruitment
• Brown bag lunch talks focused on product development, design, hardware & software
2C. Community & Business Support Services ACRA UEN No. 201005970E
HackerX :: startup recruitment a-la speed dating style theme-based hot seat recruitment approach for startups
2C. Community & Business Support Services
Other Community Events :: walking the talk
ACRA UEN No. 201005970E
www.siliconstraits.com@siliconstraits
71 Ayer Rajah Crescent, #06-11/12, Singapore 139951
147 Ton Dat Tien Street, Tan Phong Ward, District 7, Ho Chi Minh City
Thank Youwww.facebook.com/siliconstraits
MAC Tower, Merchant Road Yangon, Myanmar