Grab launches accelerator programme Grab Ventures Ignite in Vietnam

Grab announced that it has officially launched an accelerator programme, Grab Ventures Ignite, for early-stage startups in Vietnam as part of the ‘Grab for Good’ development roadmap.

“Grab Ventures Ignite will nurture and support promising Vietnamese startups in their journey to become national champions in Vietnam’s tech startup ecosystem, in line with the government’s national strategy to create 10 technology unicorns by 2030,” Grab said in a statement, as reported in DealStreetAsia.

The six-month programme has welcomed a partnership with Vietnam’s National Innovation Center, an entity under the local investment ministry, to execute the initiative together. GVI also collaborated with Gobi Partners, Vietnam-based Toong Coworking Space, law firm YKVN, and Amazon Web Services to provide support to startups.

According to Grab, participating startups will benefit from a curated immersion programme hosted in Singapore by Infocomm Media Development Authority and cross-border sharing with the startups in the Lion City. Up to five selected winners will be offered up to US$150,000 in investments and in-kind benefits.

The application process is open until April 10, 2020. The target sectors are not limited, but GVI said it welcomes startups focussing on mobility, food, payments, financial services, logistics, e-commerce, or artificial intelligence.