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This Innovation Consultancy Is Helping Local Startups Break the Three Years Curse
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August 1, 2022 News

 

Couples have the Bali curse, and startups? Everyone knows the three years curse. Getting over it is the true sign of achieving a bit of stability for a full-fledged business.

Despite how many passionate folks want to start their own businesses, just as many fall into the main pitfall that is so often promoted yet forgotten: Innovation.

Juggling different responsibilities, not many entrepreneurs can find the time to think about how to change and stay relevant. Yet those are cornerstones to growth.

This is where StartupX comes in: Guiding startups and enabling them to scale and see greater success in regional and global markets. To help build a sustainable startup support system, StartupX connects entrepreneurs with mentors in relevant industries, community partners, and investors.

Hosting accelerators and hackathons, StartupX is a master at helping startups break out of their funk through their innovation programmes. In a short span of time, startups can receive direct consultations regarding the problems they face, be it in scaling their business or going commercial.

For instance, back in 2020, Insect Feed Technologies partnered with StartupX through HyperX, the world’s first sustainability hackcelerator. The goal was to scale their business idea of utilising food waste to harvest high-quality protein for pets and animals to combat the rising problem of food security.

Through the partnership, Insect Feed Technologies gained the necessary industry know-how to turn their industry solution into a reality. The company has since won the Social Enterprise Start-up of the Year at the 6th biennial President’s Challenge Social Enterprise Awards ceremony in 2021 and completed its first funding round this year to support food waste recovery.

Moreover, StartupX has supported other homegrown businesses such as StaffAny and Augmentus in successfully scaling their business and securing funding for their ventures. Despite StaffAny solving a critical problem in the operations for businesses, the initial product did not gain much traction. StaffAny then partnered with StartupX to unlock its potential during the early stages of the business. After rounds of consultations and innovations, StaffAny has taken flight and the founders were also awarded Forbes’ 30 Under 30 in Asia for 2022.

Being the bridge between industry experts, investors and startups, StartupX was able to connect Augmentus with the right people who could invest in their business idea. What would take years for startups to achieve, StartupX was able to help entrepreneurs achieve in months, by building the right connections for them. In 2021, Augmentus raised a seed funding for the launch of its no-code AI robotics programming platform to further increase the efficiency of industrial robots in the market.

 

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