A space to watch

• CEO and founder of 500-backed rocket startup Gilmour Space, Adam Gilmour, appeared in a panel discussion about Australia’s future in the space industry.

• While he believes engineering capability is key to having a competitive advantage, he says there are a number of other skills needed for the space industry.
• “What I’d love to see is a greater engagement between companies like ours and universities, where we work on curriculum,” he added. “That’s really valuable experience for companies like ours, because otherwise, we’ve got to teach them as soon as they come in, it takes six to 12 months.”
• How can Australia become a regional leader in the space industry? Adam answered, “An Australian satellite, launched on an Australian launch vehicle, from an Australian launch site… And we’re trying to do that next year!”
• Watch the full panel discussion here.

Opening the books

• Appearing on ‘Bloomberg Markets: Asia’, the CEO of 500-backed e-commerce platform Bukalapak spoke of the effect of the Covid-19 pandemic on the startup, its growth plans, and the possibility of an IPO.

• Rachmat Kaimuddin shared that the startup’s growth is in line with the e-Conomy SEA 2020 report, seeing a “high double digit” growth in total transactions revenue. The number of merchants rose from 9 to 13.5 million.
• When asked about his plans for an IPO, he said to “watch this space” as the startup will make an announcement once its plans are clear.
• What sets Bukalapak apart from other e-commerce platforms? Rachmat said that its goal is to provide e-commerce solutions to underserved markets which are the small and medium enterprises, those outside commercial centers, and those who may not be financially or digitally included. He added that they are also focusing on locally-made products.
• Watch the full interview here.

An uplift for startups

• The deadline to apply for 500 Ignition Singapore has been extended to 23 March 2021.
• 500 Ignition Singapore is a virtual program designed in collaboration with Startup SG to support budding entrepreneurs in Singapore over 12 weeks of programming and mentorship.

• The program will be offered at no cost, and eligible participants may receive a stipend.
• For more details and to apply, click here.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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