Singapore Startup iTwin Launches at TechCrunch50 Conference!
We were absolutely ecstatic to see iTwin, a Singapore based startup which spun off from Exploit Technologies A*STAR, being one of the 50 featured companies at this year’s TechCrunch50 event. Kudos to the team!
Widely known as the top event for launching web startups, TechCrunch50 has been known to showcase promising and industry changing startups. This is the first time ever whereby a Singapore startup was chosen to be among the 50 launching companies. Previous Singapore companies like FusionGarage (who are now working with TechCrunch to develop the Crunchpad) and Socialwok (who is at TechCrunch50 right now) presented their startups at the demo pit. While no success or funding is guaranteed for the launching startups, they are usually pegged for great success. For example, Min.comt, which was recently acquired by Intuit for a whopping $170 million, launched at the TechCrunch40 event in 2007 and event went away with the top prize. This acquisition further entrenches the TechCrunch50 event as THE startup launch platform for web startups.
Yossi Vardi, a distinguished investor from Israel, clearly credited that there are interesting startups outside the valley (just like iTwin) and we clearly see the shift of innovation from Silicon Valley to Asia.
Time will tell how well the iTwin team manages to capitalize on this one in a lifetime opportunity, but this is definitely a great boost to the fledgling web startup industry in Singapore. Congratulations iTwin and congratulations Singapore! :)
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