Entering AppWorks #18
Formosa Financial is pleased to share the news with the community that we’re joining a leading startup accelerator — AppWorks. Since its founding in 2009 AppWorks has been committed to fostering the next generation of entrepreneurs in Greater Southeast Asia and helping to facilitate the region’s development of innovative technologies.
AppWorks operates two main programs — AppWorks Accelerator and AppWorks Funds. Formosa Financial is thrilled to join the AppWorks accelerator to be able to connect with potential partners and future clients. The AppWorks accelerator accepts about 30 startups twice annually on the bleeding edge of the latest tech trends. For AppWorks #18 the focus is shifting to artificial intelligence (AI) and blockchain applications, which will certainly provide ample opportunities for collaboration in this fast evolving space. It provides founding teams ] with essential sources, mentorship, and leadership to help the companies scale from zero to one. Additionally, AppWorks manages two venture capital funds with US$61 million assets under management (AUM) and invests in about 10–15 deals per year. The AppWorks ecosystem currently includes 328 startups and 925 founders. Those startups generate US$2.5 billion in annual revenue, have created more than 9,000 jobs and maintain an aggregate valuation of US$3.6 billion.
“It’s an honor to be selected by AppWorks as one of the most promising blockchain startups in Greater Southeast Asia. Jamie and his team no better than anyone what it takes for a startup to build a winning formula so we are excited to leverage their international network and local resources as we push Formosa Financial from the conceptual stage into an operational business with multiple clients.” — Ryan Terribilini, CEO of Formosa Financial
In addition to joining the AppWorks Accelerator, Formosa Financial is also preparing to provide a comprehensive blockchain treasury management solution for clients holding cryptoassets including ICO projects, exchanges, and more. By directly addressing some of the major pain points of the industry — such as security, liquidity, and volatility risks — the Formosa Financial platform aims to deliver mission critical services to clients globally.
“With AppWorks #18 focusing on AI and blockchain startups we are excited to welcome Ryan and the Formosa Financial team into the upcoming batch. AppWorks has accelerated and invested in a number of startups that can benefit from treasury management solutions for cryptoassets so we are eager to have them join our network.” — Jamie Lin, Founding partner of AppWorks
