Overview of NEOLOKA and Joining Antler
Q: Can you provide a brief overview of your company?
A: I’m Nghia, the CTO of NEOLOKA, a startup based in Vietnam. Our focus is on solving last-mile logistics challenges, primarily in Vietnam, with an eye on expanding our solution throughout Southeast Asia. What’s interesting is that, prior to joining Antler’s cohort in 2022, the two other founders and I had never met. Antler’s setup is somewhat like a startup incubator, bringing together around 50 to 60 individuals with diverse backgrounds. We were all newcomers to each other, each with a unique skill set and entrepreneurial motivation. To give you an idea, I handle the tech side of things, our CEO specializes in operations and finance, and our third co-founder is a marketing and sales specialist.
Why Antler
Q: Why did you decide to join Antler?
A: Now, the story of how we came together is quite fascinating. We all shared a background in logistics, with our CEO having worked at Shopee, a major e-commerce player in South Asia. His experience there gave him deep insights into the last-mile logistics industry in Vietnam and revealed the pain points that big tech companies typically shy away from. We decided to tackle these challenges by pooling our expertise and pitching our solution to Antler. Antler has a global presence, with partners in Vietnam, Singapore, Europe, and the US, and they actively seek innovative startups around the world. In Vietnam, they’ve established an innovation committee that evaluates and supports promising ventures like NEOLOKA, and that’s how our journey began.
NEOLOKA’s Application Process at Antler
Q: How has the journey been for NEOLOKA since your acceptance into Antler’s program?
A: Our journey has been dynamic and transformative since joining Antler. We began by establishing our startup and are currently in the process of building our product from scratch, moving from the concept stage to a functional solution. We’ve achieved a significant milestone by securing contracts with some of the largest e-commerce players in our region. These partnerships are pivotal as we work to align our offering with their specific requirements and prepare for the product launch, slated for later this year. This marks nearly one year of intensive progress.
It’s worth noting that when we initially presented our idea and a paper MVP (Minimum Viable Product) to Antler, we hadn’t yet done any tangible work on the product. Antler recognized our potential based on our profiles, expertise, know-how, and unwavering motivation. As a result, they provided crucial support by connecting us with experts and introducing us to private equity funds and angel investors. This early backing has been instrumental in propelling our growth.
Q: Could you shed some light on the application process for Antler?
A: The application process with Antler was quite streamlined, consisting of just three rounds of interviews. To begin, they reached out to confirm and verify the details on my CV and resume. This initial contact ensured that my qualifications and experience aligned with their expectations. In the next round, they delved deeper, assessing my abilities, experience, and, importantly, the compatibility of my co-founders. This phase aimed to examine our collective background and strengths. Finally, the third round allowed me to meet with one of the partners at Antler. If the partner believed that we possessed the right mindset and potential for success in the startup world, we would proceed to work with Antler to kickstart our entrepreneurial journey. While the process was rigorous, it was highly focused on evaluating the essentials for a successful startup rather than requiring extensive preparation beyond presenting our genuine capabilities and vision.
After Getting In
Q: Can you share your experience with the mentors and advisors you had access to at Antler?
A: At Antler, we were fortunate to be mentored by Erik, a partner based in Vietnam. His background was particularly valuable for us because he had previously worked with one of the largest e-commerce companies in Vietnam. This experience brought a wealth of insights into the industry. Erik not only shared his knowledge but also facilitated connections with other professionals in the field. These connections allowed us to access real-world statistics and insights, enabling us to address the right problems and make informed decisions as we developed our startup. The guidance and support from Erik and other mentors at Antler have played a significant role in our journey.
Q: Were there any conversations or mentorship experiences with individuals who specialized in marketing within the Antler network?
A: Our engagement at Antler extended beyond industry-specific mentorship. While we certainly benefited from insights relevant to our domain, the support encompassed a broader spectrum. Antler provided us with access to a diverse network of experts, both internally and externally. This network not only included mentors with expertise in marketing but also venture capitalists (VCs), angel investors, and private equity funds.
Antler’s extensive connections facilitated the funding aspect of our journey, helping us make valuable connections with investors who believed in our vision. Moreover, they connected us with other notable startup accelerators, including well-known ones like Google’s accelerator and Amazon’s accelerator. This wide-reaching network has been instrumental in helping us access resources, knowledge, and opportunities that have contributed to our growth and success.
Outcome and Impact of Completing the Antler Accelerator
Q: What specific value did you derive from the connections to other accelerators facilitated by Antler?
A: The connections to other accelerators have brought tangible benefits to our startup. It allowed us to gain access to premium products in the market, such as Notion and Miro, which are vital tools for our operations. The cost of these software solutions can add up significantly if we were paying the full price independently. However, the network established by Antler proved to be invaluable. It enabled us to access these tools at reduced or subsidized rates, which has been a substantial cost-saving advantage for our business. This, in turn, has allowed us to allocate resources more effectively to other critical areas of our growth journey.
Q: Is it fair to say that Antler generally leans toward founders with technical backgrounds or those who have worked in tech companies?
A: Yes, that’s a fair assessment. Antler tends to favor founders who either come from technical backgrounds or have substantial experience working in technology-related roles.
Q: In your case, you mentioned having three co-founders. Do any of them, besides yourself, possess substantial technical expertise or experience?
A: Indeed, among our co-founders, the CEO has relevant technical experience from his work in Singapore. Additionally, our Chief Marketing Officer (CMO) has experience in software sales, which contributes to our collective skill set and enables us to tackle the challenges in our domain effectively.