Meet our first Myanmar Startup! RecyGlo
Okka and Yamin are the Co-Founders of our Portfolio company, RecyGlo. They are on a mission to become the leading waste management solution platform in Southeast Asia that produces zero waste and zero carbon. RecyGlo works with partners from across the world including PwC, the World Bank, the US Embassy and Cardno. Here they talk about their experience with us as the first Myanmar company joining our flagship accelerator!
Why did a Myanmar startup like RecyGlo choose a Singapore accelerator?
Our local ecosystem in Myanmar is still very nascent. People have a very traditional mindset of writing a check, raising a fund, and investing in startups. In Singapore, you have a bigger market to be well received and also gain access to different investors.
When we were fundraising in the local market, we got the feeling we were a big fish in a small pond, people have different perceptions about investing in our business. But in Singapore, where the market is more mature, you can actually raise smart money that can nurture you and help you go on to raise Series A, B and C. It’s also a stepping stone to grow from the region to become a global company.
Actually, Accelerating Asia has such a good network of investors, that it’s possible to raise a round through the existing Accelerating Asia connections.
What’s your one piece of advice for startups applying to join?
If you have traction, if you’re not afraid of risk, if you would like to venture into a new ecosystem, just do it and apply. They might not choose you, of course, it’s a very selective process.
But the thing is that you will have experience and exposure to the process which is also important. I know a lot of companies who applied multiple times and they were rejected. Don’t be discouraged, you can still have a second or a third chance and eventually end up in the program.
Also, if you are not accepted, it’s a good thing because you have an opportunity to learn, to know what you need to do at a very early stage, and to know what to focus on, to improve. It will help you identify strengths and fix the weaknesses, then you can be in a better place to be ready to apply again and maybe even join the program.
What masterclass or program session that stands out?
The masterclass that we took on pitching. I do think that the facilitator was very inspiring and the way he approached your pitch deck and made you understand it is part of your business, not a separate document, it’s something you have to thoroughly understand, what you're presenting and conveying. Also, that purpose of the deck is so that you can achieve and serve your clients, partners, and investors really contributed to our approach. I liked the step by step nature of the process and workshop.
I also like the sessions with the Accelerating Asia team, with Craig and Nesh and I learned a lot from Amra as well. For Amra we can work on how to approach impact investors, with Nesh we talk strategy, and for Craig it’s decision-making. So, I do really like the access to internal knowledge from within the team at Accelerating Asia and I think it made me grow as a person individually. It’s the type of knowledge that I can take back home to the local ecosystem.