Why founders fake their degrees

This week’s On the Rise explores the psyche of founders who fake their credentials and Ola’s late entry into the AI chip space. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter spotlights emerging startups and the biggest trends in the tech ecosystem. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - [F is for fake: investors on why founders cry Ivy League]( - [Is CP Group scion’s AI startup worth the $60m it raised?]( - Is Ola too late for the AI chip battle? Hello {NAME} At the start of the year, I worked on a story with my colleagues about Vizzio founder Jon Lee and how he faked his Ph.D.. We frequently discussed in our internal meetings at the time what his motivations could have been. As we uncovered a few more stories on founders with sham degrees in the last seven months, this question has become more pertinent. In this week’s Big Story, my colleague Elyssa spoke to investors in the region to understand the reasons behind founders faking their degrees. While only 16 out of 92 unicorn founders in Southeast Asia attended Ivy League colleges, more than half graduated from an institution outside their home country. And though most investors don’t look at education as a primary criterion for investment, some entrepreneurs believe it enhances their visibility and can help them secure a pitch meeting. [F is for fake: investors on why founders cry Ivy League]( In some deeptech verticals like advanced manufacturing, biotech, and climate tech, we learned that founders who have done scientific research and a degree on the subject, have an edge. In India, one founder who has a degree from a prominent university is making waves in the country’s startup industry by trying to go toe-to-toe with Nvidia. Bhavish Aggarwal, the founder of ride-hailing firm and EV bike manufacturer Ola, is leading the company’s charge to launch its own AI chips. This is going to be his fourth venture after ride-hailing, electric vehicles, and the creation of a large language model, Krutrim AI. Last Thursday, I attended an event by Ola, where it revealed a bit about its plans for AI chips. Its first chip, the Bodhi 1, is expected to launch in 2026 and is designed for LLMs and [vision models]( though details of this are scarce. The more advanced Bodhi 2 AI chip - which is set to launch in 2028 - aims to rival Nvidia. Ola says Bodhi 2 has over 10 trillion parameters — 10x more than Nvidia’s [current Blackwell GPU]( which is already one of the best in the market. That said, [an AI system]( not only includes chips but also other parts like memory, storage, power supply, and cooling, which all contribute to the amount of parameters it can process. When Nvidia’s Blackwell is integrated with the company’s transformer engine, [GB200 NVL72]( it can support LLM models with up to [27 trillion parameters](. Ola is also very late to the market. By the time Bodhi 2 reaches its 10 trillion parameter capability in 2028, chip makers like Nvidia would likely have advanced too. Ola didn't provide details on client commitments for the Bodhi 1 chip. For now, the only advantage the startup might have is its pricing strategy. While Ola aims to be fabless like Nvidia by outsourcing manufacturing to Taiwan, support by the Indian government could allow it to offer cheaper prices. As Nvidia AI chips come at a premium, there will be a market for companies looking for cheaper options to meet their GPU requirements In 2021, the Indian government launched a [US$9.6 billion production-linked incentive scheme]( aimed at boosting semiconductor and display manufacturing in the country. Additionally, Prime Minister Narendra Modi [allocated US$144 million]( last year to support Indian semiconductor design startups. But the country’s holy grail is to create 100 startups focused on innovative chip designs that cater to both domestic and global markets. Ola is known for its fast execution: The company built its 600,000 square foot electric vehicle factory in less than eight months and captured a significant share of the electric two-wheeler market in record time. It also managed to build Krutrim AI's LLM within eight months from [the company's incorporation]( and grew its [user base to 10 million](. If Ola succeeds in launching its AI chips within the given timeframe, it could at least secure interest from Indian as well as other Asian companies. The main challenge for Ola in the long run could be in securing investment. However, Bhavish Aggarwal has a track record of raising significant capital in a short period. Krutrim AI, for instance, [raised US$50 million]( within one month of its launch. Ola Electric, too, has [raised around US$1 billion]( through various debt and private equity rounds and [over US$730 million from its recent IPO](. Given that Ola wants to outsource the manufacturing of its chips - a faster approach for the company - Aggarwal’s fundraising ability could give the company a head start. However, competing with Nvidia is still a long way off. – Lokesh P.S. The team behind On the Rise will be taking a break next week. But fret not, we will be back on September 3.  --------------------------------------------------------------- DEEP READS Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [CP Group scion’s AI startup: Is it worth $60m?]( Amity Solutions, an AI startup from Bangkok founded by Korawad Chearavanont, heir of Thai conglomerate CP Group, raised US$60 million last month. The company, which began as an employee engagement platform, now provides cost-effective AI chatbots and tools for businesses. It plans to go public in 2025. 2️⃣ [To pivot or not to pivot to AI: that’s the question for startups]( The story looks into how Malaysian drone startup Aerodyne pivoted to developing an AI solution after it faced hurdles in the drone market. By creating an LLM that addresses a real need for its clients, it has seen the fruits of this transition. But experts warn companies against “AI washing” their products in order to raise investor money. 3️⃣ [Iran’s ChatGPT election play]( OpenAI has banned several ChatGPT accounts linked to an Iranian influence campaign aimed at swaying the US presidential elections. These accounts, connected to a covert operation named Storm-2035, used ChatGPT to produce articles and social media posts on diverse subjects, including US politics, the Israel-Hamas conflict, and the Olympics. 4️⃣[Affordable, sensitive robotic vision]( Researchers at the School of Engineering at the Hong Kong University of Science and Technology have unveiled an artificial compound eye system that could enhance robotic vision. This innovative system is not only more affordable but is also at least twice as sensitive as that of current products in the industry. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](. [Tech in Asia Conference Jakarta on October 23 - 24]( Want to know what's next for Southeast Asia’s startup scene? Join us at TIA Conference Jakarta to hear from top VCs like Jefrey Joe of Alpha JWC Ventures, the founder-turned-investor Achmad Zaky and Agung Bezharie. They'll share insights on which market is still the hotbed for investment, the challenges and opportunities of transitioning from founder to investor, and many more. Join thousands of founders and investors at TIA Conference Jakarta. Tickets are now on sale for 45%. [Get tickets.](  [Investor Hour at Tech in Asia Conference Jakarta]( Ready to make your startup dream a reality? Investor Hour is your golden ticket. This exclusive one-on-one networking session brings together brilliant founders and seasoned investors in an intimate setting. Whether you're seeking funding or looking to sharpen your pitch, Investor Hour is your platform to build lasting relationships. Don't miss this chance to connect with the industry's top minds. Secure your spot at TIA Conference Jakarta now! [Get tickets.]( [Gemini Day for Startups: Singapore on August 22]( Hearing about AI is easy. Actually using it to scale your startup? That’s a different story. Join Google Cloud’s Gabriel Tham along with founders from Crown Digital, Curium, and Pave Bank as they spill the tea on what works, what doesn’t, and how to get ahead in the AI game. [Apply now - this exclusive event will reach capacity soon.]( [DevOps Decoded: Industry Insights & Networking on September 12]( It’s no secret that DevOps is evolving at a breakneck pace, but do you have what it takes to adapt and thrive? Uncover the hottest trends and tech advancements in DevOps as we dissect success stories and arm you with the knowledge to future-proof your DevOps strategy. Seats are strictly limited - apply now.  [SYNC 2024 on October 08]( SYNC 2024 is taking on a new dimension. This year, we're diving deep into the world of artificial intelligence - the force that's reshaping industries, driving innovation, and redefining the future of business. AI is already here, but it's only just beginning to reveal its true potential. Find out more about SYNC 2024 today. ---------------------------------------------------------------  That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you on September 3! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894