A Step Ahead of The Next Crisis: Newly Launched Virtual Global Accelerator Expara VirTech

Expara VirTech Global Accelerator aims to promote helpful solutions for worldwide calamities

Powering startups on the offensive against future global crises, Singapore-headquartered venture capital firm Expara Ventures launched the first cohort of its fully online accelerator Expara VirTech Global Accelerator via Zoom on Tuesday, May 16.

“We decided to launch an acceleration program focusing on the post-pandemic world because [we strongly feel that] that this pandemic will have major impact well beyond the end of the rising infection rates,” Expara Founder and CEO Douglas Abrams said in his address.

Expara VirTech Global Accelerator will feature 16 companies from across the world, who will receive three months of mentorship, training via weekly live seminars and other modules, and networking support, in addition to up to $50,000 for convertible equity via a SAFE note.

The program will culminate in an online Demo Day in its 14th week, where participating startups will have additional opportunities to receive further funding offers from investors.

The Accelerator is aimed at companies that can help address the complex problems arising from the Covid-19 pandemic or future pandemics, via detection, information, prevention and protection, or mitigation capabilities.

For instance, Co-founder and CDO of Pakistan-based artificial intelligence prognostics company Xpertflow Shan ul Haq said, “Our solution strictly focuses on the medical side of things, so it made sense to apply for a program that focuses on the Covid-19 situation.”

Announced late March this year, the online launch event tallied over 80 attendees, featured ‘break-out’ networking circles and one-minute pitches from the program’s participating startups.

Expara also announced during the launch that the National University of Singapore, where Abrams is an Adjunct Associate Professor, will be conducting a study in entrepreneurial strategy with participants of the program. The research will aim to understand how startups progress in virtual accelerators.

Expara, which invests mainly in early-stage companies, provides incubation and acceleration programs in addition to its venture capital investing activities that have been in operation since the early 2000s.

“Hopefully, our companies in the VirTech Accelerator are going to play some role in reducing the probability that we’re going to have [another critical impact crisis similar to Covid-19] sometime in the not so distant future,” Abrams said in his address.

The program has over 100 supporting partners and the list is growing, Head of Expara VirTech Global Accelerator Paulina Bialek pointed out. The accelerator attracted over 300 applications, and the final 16 introduced their companies in minute-long pitches during the event.

In a previous interview with Jumpstart, Abrams pointed out that global catastrophes are very likely to take place in the future, and the world needs to be prepared for those so as to not be caught off-guard, as it was with Covid-19.

“My concept for the startups in the program is that there are somethings we know are definitely going to happen, or are already happening,” Abrams said at the launch. “We cannot know when the next virus is coming or how bad it is going to be, but we can know that the world is going to change and has already started to change in some important ways.”

Header image courtesy of Expara

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Top Must-Follow Productivity Influencers in 2023

Top Must-Follow Productivity Influencers in 2023

Productivity is a key aspect of success in today’s fast-paced world. Being productive enables individuals to balance their work and personal lives effectively while accomplishing their goals efficiently. To help you stay on track and reach your full potential, we’ve identified top influential productivity experts who provide valuable insights to maximize your efficiency in 2023.

What Can Drones Be Used For, and Do They Have a Future?

What Can Drones Be Used For, and Do They Have a Future?

In January 2023, Australian soldiers used drones to search for a missing woman. The drones helped them reach areas that might have been too challenging for a human to enter. For the past few years, the drone economy has been booming. Global investments in the industry amount to US$1.15 billion, with China leading the market.

2022 FIFA World Cup

The Most Controversial VAR Decisions at the 2022 FIFA World Cup

The footballing world has welcomed many new technological developments in recent times. Its goal is to make decision-making more accurate and provide a better experience for players and fans alike. These technologies include the video assistant referee (VAR), semi-automated offside technology (SAOT) and sensor-equipped footballs, all used extensively during the 2022 FIFA World Cup in Qatar.

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Starting a new business can be an exciting and challenging endeavor, with securing funding being one of the biggest obstacles. Traditional funding options, such as venture capital and angel investing, can be time-consuming, especially for new and untested businesses. In such cases, self-funding, or “bootstrapping”, might be a viable option.

Navigating Ghost Job Postings: How to Avoid Them

Navigating Ghost Job Postings: How to Avoid Them

Job searching can be a daunting task, especially with the risk of encountering scams or fraudulent job postings. Ghost job postings, which refer to open job positions that are not actively being filled, are a common issue that jobseekers should be aware of. According to a survey by New York-based financial consultancy Clarify Capital.

Can AI Help You Flirt Better

Can AI Help You Flirt Better?

“Excuse me, but I think you dropped something: my jaw.” This is the pick-up line the famous artificial intelligence (AI) chatbot ChatGPT dished out when we asked for some viable options. Not the most original, sure, but not bad for a trained algorithm.