Shanghai-based Chinaccelerator on Monday announced the startups from its Batch 18, which are set to graduate on December 9 this year. All six startups operate in the software-as-a-service (SaaS) industry.
The participants mostly come from India, but also from Singapore and Hong Kong. They are using artificial intelligence (AI) and blockchain technology to build software products for fintech, insurtech, legaltech, and media, and already have a sizable global user base and profitable business, according to the accelerator.
Chinaccelerator’s partner and managing director Oscar Ramos believes that SaaS adoption will continue to grow and sees two main trends. The first one is more usage of SaaS solutions by multinational corporations. “What is especially interesting will be the adoption of more flexible core systems with strong API interfaces that will help integrate additional solutions,” he told KrASIA.
The wide adoption will be a catalyzer for the second trend—specialized SaaS solutions. Ramos thinks that instead of going wide, developers will focus on a particular vertical. “I am particularly interested in the functional ones, very advanced solutions that could integrate themselves into existing suites,” he said.
Chinaccelerator is operated by global venture capital firm SOSV. It offers a three-month mentoring program with guidance from founders of notable companies, SOSV partners, and other investors. To date, Chinaccelerator has invested in over 160 startups.
Ramos said that the program offers founders more opportunities to work with some of its large portfolio companies. He stresses the importance of a good customer service.
“This might sound very basic but it is easy for founders to forget about it once they start to have a bit of traction,” he said. “We have always been very consistent in making sure that founders understand their customers and their pain points so that they can always be ahead in terms of delivering solutions, including functional, emotional, and financial requirements associated with the product.”
