Grab, IMDA launch accelerator programme

It will allow startups to know more of Vietnam’s business context.

Grab has partnered with Infocomm Media Development Authority (IMDA) to pilot the 14-week accelerator programme Grab Ventures Ignite (GVI), for Singapore-based startups with interest to expand to Vietnam, an announcement revealed.

It will be held alongside the GVI Vietnam programme to enable startups from both countries to exchange ideas and learn from one another, which will allow startups to gain a better understanding of Vietnam’s culture, business context, strategic and ecosystem networks with Vietnamese investors and corporate partners.

Grab and IMDA will evaluate the Singapore startups based on a range of criteria including but not limited to core team strength, existing standing in the Singapore market, potential fit with the Vietnamese market, and readiness to expand.

Two startups will be selected for the full GVI accelerator programme, whilst three other startups will receive an opportunity to join a three-day bootcamp jointly hosted by Grab, IMDA PIXEL and Digital Industry Singapore (DISG) at PIXEL’s premises in One-North, Singapore.

The pilot GVI programme will provide training and mentorship, fundraising, cloud credits of up to US$100,000 each, access to co-working space and other equipment and facilities at PIXEL for the duration of the programme, an additional one-on-one consultation and mentoring by experts in customer-centric innovation, and cross-border exchange with Vietnamese startups during Singapore bootcamp

Other Grab Ventures Ignite programme partners include Vietnam’s National Innovation Center (under Ministry of Planning and Investment), regional venture capital firm Gobi Partners, Toong - Coworking Space Developer, YKVN, and Amazon Web Services.

Startups interested in applying may do so by 10 April through GVI’s website.