Singapore-based startup accelerator JFDI Asia (JFDI is acronym for Joyful Frog Digital Incubator) has formalized a strategic alliance with seed stage investor Golden Gate Ventures to offer early stage digital start-up companies access to substantial pre-Series A funding. Golden Gate Ventures co-founders Vinnie Lauria, Jeff Paine and Paul Bragiel will join JFDI.Asia’s ‘bootcamp’ accelerator program as mentors. Startups that they nominate and which show sufficient traction through the bootcamp will be fast-tracked to follow-on funding of up to $600,000.
“Golden Gate Ventures’ links to later stage investors and Silicon Valley can add most value once start-ups launch products and prove market traction,” Golden Gate Ventures co-founder Vinnie Lauria said in a press release today. Golden Gate Ventures will continue to fund startups that have already launched and shown traction, independent of the bootcamp. Since March 2012, Golden Gate Ventures has been accredited as a Technology Incubation Scheme (TIS) incubator by Singapore’s National Research Foundation.
The two partners have agreed to share their respective pipeline of pre-launch companies, working together to identify businesses that could benefit from a boost before their first major cash injection. “We hope that this will be the first of several alliances with key partners across the region who share our ambition to support the coming generation of digital success stories across Asia, for Asia,” said Hugh Mason, co-founder and CEO at JFDI.Asia. Mason founded the accelerator with Wong Meng Weng. The JFDI-Innov8 2012 Bootcamp, an initiative that saw pre-selected startups build business prototypes over 100 days in Singapore, concluded in May with 11 digital startups presenting their products and ideas to over 100 investors.
Image credit: JFDI Asia