{"id":160,"date":"2020-12-11T00:00:00","date_gmt":"2020-12-11T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-150-what-is-500s-strategy-for-unlocking-potential-in-the-startup-ecosystem\/"},"modified":"2021-07-28T05:23:14","modified_gmt":"2021-07-28T05:23:14","slug":"durians-daily-150-what-is-500s-strategy-for-unlocking-potential-in-the-startup-ecosystem","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=160","title":{"rendered":"Daily Markup #150: What is 500\u2019s strategy for unlocking potential in the startup ecosystem?"},"content":{"rendered":"<p><strong>All aboard Angkor 500<\/strong><\/p>\n<ul>\n<li>Recently, 500 Startups <a href=\"https:\/\/e27.co\/500-startups-launches-angkor-500-to-accelerate-the-development-of-cambodian-startups-20201123\/?utm_content=147043113&amp;utm_medium=social&amp;utm_source=linkedin&amp;hss_channel=lcp-1443207\" target=\"_blank\" rel=\"noopener\">announced<\/a> a two-year partnership with Khmer Enterprise, a unit under the Cambodian Ministry of Economy and Finance, to launch Angkor 500, a series of programs dedicated to the development of the Cambodian startup ecosystem.<\/li>\n<li>This is in addition to the existing 500 Durians fund dedicated for Southeast Asia, and country-specific micro funds 500 Vietnam and 500 TukTuks in Thailand.<\/li>\n<li>In an interview with <a href=\"https:\/\/kr-asia.com\/partnerships-between-vcs-governments-will-spur-startup-growth-qa-with-500-startups-ceo-christine-tsai\" target=\"_blank\" rel=\"noopener\">KrASIA<\/a>, CEO and founding partner of 500 Startups Christine Tsai said participants of Angkor 500 will gain access to experts who will help with strategies and challenges, exclusive networking opportunities, and leverage on the expertise of the 500 Durians team and portfolio.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1200\" data-height=\"675\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7d99fdb066.png\"><figcaption class=\"wp-caption-text\">Credit: The Business\u00a0Journals<\/figcaption><\/figure>\n<ul>\n<li>The program hopes to attract and train tech talent by offering mentorship through entrepreneurship programs.<\/li>\n<li>\u201cCambodia\u2019s economy and talent are at an inflection point for rapid growth, and we are confident that this program will help local founders build strong companies that will push the boundaries of what is possible,\u201d she added. \u201cIn fact, in 2017, we became the first Silicon Valley VC to invest in a Cambodian startup called <a href=\"https:\/\/www.khmerload.com\/\" target=\"_blank\" rel=\"noopener\">Khmerload<\/a>.\u201d<\/li>\n<li>The kingdom is cited as \u201cone of the fastest-growing economies in the world\u201d by <a href=\"https:\/\/www.worldbank.org\/en\/country\/cambodia\/overview\" target=\"_blank\" rel=\"noopener\">World Bank<\/a>, Cambodia reached lower-middle-income status in 2015 and aspires to attain upper-middle-income status by 2030.<\/li>\n<li>Christine shared that 500 actively seeks to forge partnerships with governments, corporations, and institutions, which are especially important in underserved markets. \u201cVenture capitalists are able to better support startups when governments act as partners. Startups benefit from partnerships in the form of training and mentorship, while allowing governments to keep up with innovation and promote research and development,\u201d she said.<\/li>\n<li>\u201cThe potential for change and growth is huge when investors and governments work together,\u201d Christine concluded.<\/li>\n<li>Read the full interview <a href=\"https:\/\/kr-asia.com\/partnerships-between-vcs-governments-will-spur-startup-growth-qa-with-500-startups-ceo-christine-tsai\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<p><strong>Robots in retail<\/strong><\/p>\n<ul>\n<li>Online shopping is not a new concept, but lockdown measures have accelerated the trend. A <a href=\"https:\/\/techcrunch.com\/2020\/08\/24\/covid-19-pandemic-accelerated-shift-to-e-commerce-by-5-years-new-report-says\/\" target=\"_blank\" rel=\"noopener\">report<\/a> by IBM showed the pandemic has accelerated the shift from traditional retail to e-commerce by 5 years.<\/li>\n<li>As shoppers seek to safeguard themselves from the virus, they look to shopping online instead.<\/li>\n<li>500-backed <a href=\"https:\/\/ohmnilabs.com\/\" target=\"_blank\" rel=\"noopener\">OhmniLabs<\/a> is bringing online shopping to another level with \u2018Chester\u2019, a robot that allows shoppers to browse a showroom floor in-person, virtually.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"672\" data-height=\"445\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7d9a07cc03.png\"><figcaption class=\"wp-caption-text\">Credit: OhmniLabs<\/figcaption><\/figure>\n<ul>\n<li>How does this work? Customers get connected to the robot from the comfort of their own homes and drive it remotely around the store.<\/li>\n<li>Furniture store COCOCO Home in the town of Cornelius in North Carolina, United States of America has \u201c<a href=\"https:\/\/www.wsoctv.com\/news\/local\/robot-allows-shoppers-browse-stores-home\/FK5GPSJNUFFDLOPJEXTHEE6GPY\/?\" target=\"_blank\" rel=\"noopener\">employed<\/a>\u201d one such robot.<\/li>\n<li>\u201cWe\u2019re able to show [customers] leather colors and fabric colors,\u201d store owner Steve Secrest explained, adding that it has changed his customers\u2019 virtual experience.<\/li>\n<li>\u201cWe\u2019re not just talking to them, we are with them in a real sense. There\u2019s a real presence to it,\u201d he added.<\/li>\n<li>Dr. Thuc Vu, CEO of OhmniLabs shared that \u201cthousands are being used around the world for shopping, inspecting vehicles, and in healthcare settings\u201d.<\/li>\n<li>He added that users gain full control of the robot and they can look all the way up and down and even turn around.<\/li>\n<li>According to Steve, Chester is helping the store turn a profit and he may get more robots even after the pandemic is over.<\/li>\n<li>\u201cIt allows [customers] to understand us and where we\u2019re coming from as a company and build trust, and it helps us understand who they are,\u201d Steve said.<\/li>\n<\/ul>\n<p><strong>Keeping clean kitchens<\/strong><\/p>\n<ul>\n<li>500-backed healthtech and insurtech startup <a href=\"https:\/\/www.clinikk.com\/\" target=\"_blank\" rel=\"noopener\">Clinikk<\/a> is <a href=\"https:\/\/www.clinikk.com\/case-study-indias-largest-cloud-kitchen-company-ensures-a-safe-work-environment-for-staff-kitchen\" target=\"_blank\" rel=\"noopener\">helping<\/a> India\u2019s largest cloud kitchen company operate safely amid the pandemic.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"800\" data-height=\"446\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7d9a0d1316.png\"><figcaption class=\"wp-caption-text\">Credit: Clinikk<\/figcaption><\/figure>\n<ul>\n<li>The cloud kitchen company employs over 4,000 staff members across the country and sought to create a safe work environment.<\/li>\n<li>Clinikk deployed its COVID tele-screening products, enforcing mandatory temperature screenings for all workers, with staff self-reporting symptoms.<\/li>\n<li>They made the Clinikk medical team available in case of reported symptoms, and those who get a clean bill of health receive a certificate from Clinikk doctors.<\/li>\n<li>To date, the startup has conducted 358 kitchen screenings for 5,554 kitchen staff, 209 teleconsultation sessions with Clinikk doctors, and issued 2,290 safety badges.<\/li>\n<li>HR Executive at the kitchen company, Pooja Gaurav, said \u201cI just wanted to say that the Clinikk team has been helping our brand to start the telehealth screening project in a very short period. We have been working with them from the last 6 months, and at every step, they have been helpful, supportive and lifting the burden. I appreciate the efforts taken by Clinikk Healthcare to fulfil our requirements. Thanks for being so awesome!\u201d<\/li>\n<li>Based in Bengaluru, Clinikk <a href=\"https:\/\/techstory.in\/indian-healthcare-start-up-clinikk-backed-by-500-startups-in-pre-series-a-funding-round\/\" target=\"_blank\" rel=\"noopener\">integrates<\/a> healthcare with insurance both online and offline, providing family health insurance coverage, personal medical assistance, telemedicine consultations, among other services.<\/li>\n<li>The startup claims its subscriber base grew by 40% in Q4 this year and is being used by over 500,000 people across India.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7d9a14a3e7.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s 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.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>All aboard Angkor 500 Recently, 500 Startups announced a two-year partnership with Khmer Enterprise, a unit under the Cambodian Ministry of Economy and Finance, to launch Angkor 500, a series of programs dedicated to the development of the Cambodian startup ecosystem. This is in addition to the existing 500 Durians fund dedicated for Southeast Asia, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[349,325],"class_list":["post-160","post","type-post","status-publish","format-standard","hentry","category-daily","tag-clinikk","tag-ohmnilabs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #150: What is 500\u2019s strategy for unlocking potential in the startup ecosystem? - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=160\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #150: What is 500\u2019s strategy for unlocking potential in the startup ecosystem? - Markup\" \/>\n<meta property=\"og:description\" content=\"All aboard Angkor 500 Recently, 500 Startups announced a two-year partnership with Khmer Enterprise, a unit under the Cambodian Ministry of Economy and Finance, to launch Angkor 500, a series of programs dedicated to the development of the Cambodian startup ecosystem. 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