Grab kicks off Grab Ventures Ignite programme to propel Vietnam’s startup ecosystem

July 27, 2020 | 11:29
Grab officially kicked off Grab Ventures Ignite, an accelerator programme for early-stage startups in Vietnam, with a focus on helping Vietnamese startups thrive in the new normal.
grab kicks off grab ventures ignite programme to propel vietnams startup ecosystem
Grab Ventures Ignite will offer stellar opportunities for 13 lucky startups

After the one-week bootcamp, 13 selected startups have access to a 14-week full-programme of professional training and mentorship from C-suite experts, with more than $1 million in investments and in-kind perks from Grab and its programme partners.

Through the Grab Ventures Ignite programme, Grab aims to encourage tech entrepreneurship and support the growth of Vietnam’s tech startup ecosystem, as part of its "Grab for Good" development roadmap to create greater social and economic benefits for the country through technology.

Vietnam largely returns to normal and is making every effort to get the economy back on track after the COVID-19. Many businesses, including the startup community, are also trying to recover from the challenges and adapt to the new normal.

This context makes it the right time for Grab to reinforce its "Grab for Good" long-term commitment to the socio-economic growth in Vietnam by officially kicking off the Grab Ventures Ignite programme. With this kick-off, Grab actively endeavours to support startups in dialling up their agility and adaptability to pivot quickly to post-COVID-19, and as such contribute their parts to the economic recovery of the country. The startups who made it to the final selection were carefully chosen, also bearing in mind their business’ ability to support post-COVID-19 economic recovery.

Grab Ventures Ignite’s Bootcamp welcomed 13 qualifying startups from the previous evaluation rounds, with focus on emerging industries such as AI, call/chat technology, fintech/financial services, med-tech, insur-tech, logistics, and shared mobility. 13 participating startups include Abivin, bePOS, GoDee, Hana, Medici, Emiso, Papaya, Stringee, Sumi, Vbee, and WeCare247. The programme also welcomes two Singaporean startups – Accredify and Bossjob – in a cross-border experience-sharing to help participating startups to better understand the market landscape. The programme facilitated these startups with business fundamentals to drive their business forward, especially adapting to the new normal, as well as unlocking financing opportunities and driving economic recovery.

The full programme will now continue for the next 14 weeks. This programme is exclusively designed to build capabilities for early-stage startups in Vietnam through world-class expert workshops, 1:1 mentorship from senior leaders, peer learning, and networking. Participating startups also benefit from a cross-border immersion programme hosted in Singapore and Indonesia, experiencing networking with scale-stage startups from Grab Ventures Velocity, who are more mature with a stronger existing market traction and focus on testing their solutions through the Grab ecosystem.

The programme will announce up to five winners. These winners will have a chance to win more than $1 million in investments and in-kind prizes from Grab and its programme partners. Additionally, all startups in the cohort will have the opportunity to raise more funding from external investors during Demo Day at the end of the programme, with the presence of more than 20 prominent investors from across the region.

Nguyen Thai Hai Van, managing director of Grab Vietnam remarked: “The COVID-19 pandemic has put unprecedented pressure on many startups in Vietnam and caused many difficulties. However, challenges can be turned into opportunities if startups are poised to embrace changes. As startups are confronting more challenges, yet meeting more opportunities, we see our responsibility in providing startups with support to strengthen their capabilities for the new normal through Grab Ventures Ignite. This programme brings Grab’s unique strengths and capabilities as the first decacorn in Southeast Asia to nurture Vietnamese early-stage startups, contributing to the socio-economic growth of Vietnam in general and the startups community in particular through the "Grab for Good" commitment”.

By Thanh Van

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