For immediate release
February 25, 2019
she1K invests more than S$500,000 in 3 startups @ C-shark Tank
she1K stages inaugural “shark-tank”-like pitch event in Singapore on 20 02 2020
Feb 28, Singapore – Touted the world’s first global women corporate executive angel syndicate, she1K announced 3 startups that tapped on an investment pool by 23 executives (70% female) who participated as C-sharks. Coined C-shark Tank, she1K created a program that spanned less than 3 months to recruit corporate executives to participate with upfront investment commitment to fund 3 startups. Startups were selected first through she1K internal screening, followed by 20 startups reviewed by a jury who then shortlisted 12 to pitch LIVE to C-sharks.
Driving more female corporate executive “investorship”
C-shark Tank was conceived to encourage more corporate executives (especially female) to invest smart capital in startups. By spending a full day together with a structured evaluation process, C-sharks benefited from learning from each other and for many, a first in engaging startups.
“2 days with she1K is better than months at an accelerator.” says founder Benjamin Stokes from startup SocialTable who flew in from San Francisco.
Working with accelerator and community partners in the region, the campaign attracted startups from a healthy mix of sectors ranging from medtech to edtech, fintech, logistics to sustainability. 35% were from outside Singapore. 5 out of 12 startups were led by a female co-founder.
Outcome – Top 3 winners, 1st female founder funded
The final 3 winners are Lumiere32 (marketplace) from Singapore, Kibus (petcare) from Spain and Nephtech medtech) from Singapore. The top 3 were picked from 12 finalists who walked away with credits from AWS, Segment, Hubspot, Zendesk and Found8. The top 3 additionally gets an Echo Dot each from AWS. Besides the pool of investment by the 23 C-sharks participating, each C-shark and other she1K members can top up the pool for any of 12 startups.
Within one week of the event, more than 50% of the C-sharks topped up their investment. Lumiere32 walked away with the highest top up. Top 3 walked away with more than double what the C-sharks started with upfront prior to event. More importantly they now have an arsenal of corporate executives to advise and refer connections to them. Dr Priti Bhole of Lumiere32 is the first female founder she1K is investing in.
How did the 1st C-shark Tank work?
An extensive 3-month effort involved leveraging partners in the startup eco-system in inviting startups to submit their pitch. Applications from startups started from November 2019. 20 startups were shortlisted to pitch via zoom to 60 jury members comprising VCs, accelerators, corporate ventures and startup mentors all in one room at Pixel by IMDA on Jan 15, 2020 for a full day. 60% of the jury were female.
Each startup pitched for 4 minutes, followed by 10 mins of Q & A. Unlike other pitch events, any of the 60 jury member could question the startups. Jury could continue to submit questions online same day and startups must respond within 24 hours. The Jury submitted their scores and shortlisted the final 12 startups to pitch at C-shark Tank LIVE on 20th Feb 2020. 5 of the 23 C-sharks listened to the pitches and engaged in “cluster-dating” via zoom.
One day before the actual C-shark Tank day, 5 VCs including WaveMaker, Grab Ventures, Big Idea Ventures, Cocoon Cap and Strive VC and 5 domain experts from diverse sectors helped to prep the 12 startups for their pitch on Feb 19.
Startups were evaluated based on valuation appeal, defensability, team, traction, business model and scalability. 23 C-sharks were split into 5 clusters (4 onsite and one via zoom) to engage each of the startups for 15 mins of deep dive. Startups were overwhelmed by the value of corporate experience and commitment of the C-sharks. After an intensive day, C-sharks entered a war room and offered diverse views before arriving at the final selection of the top 3.
The next C-shark Tank is slated to be held in New York Sept 24th 2020. To apply, go to Cshark.she1K.com
About Top 3 finalists and 2 other startups being funded
Lumiere32 is South-East Asia’s First B2B procurement platform, providing a one stop shop for healthcare (incl dental) providers.
Kibus Petcare (Spain)
Kibus is the first home appliance to cook healthy pet food automatically. It allows pet parents to feed their pets on a healthy and natural diet in a convenient way.
NephTech is a medical technology company dedicated to provide patients and dialysis centres an evidence-based approach to vascular access surveillance and management.
she1K aims at rallying 1000 corporate women to pool together funds to invest in startups that are industry and gender agnostic, globally. Founded in November 2018, the network also extends to angels – male or female – and co-investing partners such as early stage funds.
To-date, she1K has invested in 3 startups – Performance Rotors (Singapore), Stratificare (Singapore) and Farmshelf (New York). Effective August 2019, she1K is backed by Enterprise Singapore.
Christina Teo | Chief Community Builder, she1K Global
Mobile : +65 87504768 | email : chris@she1K.com