VIISA names three startups in its fourth Accelerator batch

October 02, 2018 | 13:44
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Launched in January 2017 by FPT Ventures and Dragon Capital, Vietnam Innovative Startup Accelerator (VIISA) has become one of the most prestigious startup accelerators in Vietnam.

After three COURSES, VIISA has graduated 22 startups with some highlight successes, such as WeFit, UrBox, WisePass, and CyHome.

viisa names three startups in its fourth accelerator batch
The fourth accelerator batch of VIISA includes SecurityBox, InnKom, and Goong

The top five startups of VIISA have increased revenue by 10 times, built networks with over 1,300 partners in five countries, and have more than 13,000 active monthly users.

The Fourth Course of the VIISA Accelerator Program continues riding this wave by setting the bar for early-stage startups. Selected out of dozens of applications, the programme shortlisted three startups to join its latest batch, with a focus on Business-to-Business (B2B) technologies.

According to Tran Huu Duc, CEO of VIISA and director of FPT Ventures, the global startup trend is currently shifting towards developing B2B technologies.

One of the challenges for B2B startups is that their users are familiar with behaving and working in traditional patterns and it is difficult for them to change. Therefore, B2B startups face more complicated issues and take more time to solve the pain points. It is hard, but we are excited to work with our startups in this batch for the next three months.

VIISA Accelerator Program Fourth Course includes three startups, including SecurityBox (offering optimal solutions to overcome all risks and problems of cybersecurity), InnKom (an easy-to-use application that helps shoppers find where they are in the shopping mall and find the exact location of specific brands), and Goong (a mobile map platform that helps users to quickly reach places, receiving transport alerts and where their relatives and friends are in the same building.

The three-month programme provides participating startups with $15,000 in cash plus an undisclosed amount worth of services, such as co-working space, Amazon Web Services, HubSpot, Google Cloud, Mapbox, and Zendesk.

Additionally, VIISA provides startups with direct access to corporate partners such as FPT and Dragon Capital and give them a chance to participate in VIISA Investment Day to have the chance of pitching their product to more than 100 investors from over the world.

“In creating this accelerator programme, we do not look to reinvent the wheel or teach the founders how to run their business. These founders are already some of the best experts in whichever industry they operate in. As an accelerator, we take it on ourselves to help them crystallise these skills and experiences into a solid investment pitch, with which they can successfully raise from both local and regional investors,” said Leo Pham, programme manager of VIISA.

The programme syllabus includes three main areas: validating assumptions and proving product-market fit; learning the techniques to strategise for their future growth plans; preparing their investment pitches and storytelling skills for VIISA Investment Day, and further interaction with potential investors.

Hieu Vo, CFO of VIISA and associate director of Dragon Capital, commented that Vietnam has always possessed most of the required factors for fast-growing startups including broad technical talent pool or plenty of resilient business founders.

“Through the VIISA programme, we hope we could build and address the need of a meaningful and trusted place to nurture the startup team and grow the business,” said Hieu.

Startups in the fourth course are expected to graduate in December 2018 on a "Day for Investment" which is expected to be attended by more than 100 investors from in and out of the country.

The Investment Day will comprise of startup pitches from Batch 4 and portfolio companies, presenting to more than 100 investors, mentors, and corporate partners from over the globe.

By Bich Ngoc

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