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The launch of Grab Venture Ignite marks the expansion of Grab’s umbrella of startup programs, which currently includes Grab Ventures Velocity (GVV), Grab’s flagship startup scale-up program. GVV has so far supported the growth of 15 startups regionally across two batches of the program
Fremont, CA: Grab launched its accelerator program for early-stage startups, Grab Ventures Ignite, which is a part of the Grab for Good development roadmap in Vietnam aimed to create greater social and economic benefits for the country through technology.
Vietnam is the first Southeast Asian country where Grab is launching this program. Grab Venture Ignite will foster and support promising Vietnamese startups in their journey to become national champions in Vietnam’s tech startup ecosystem, as per the government’s national strategy to create ten technology unicorns by 2030.
In support of the Vietnamese government’s objective to develop the national startup ecosystem, Grab Ventures Ignite signed a strategic partnership with Vietnam’s National Innovation Center (under the Ministry of Planning and Investment). With the aforementioned partnership, Grab Venture Ignite and the NIC will collaborate in planning and executing the Grab Venture Ignite program, accelerating the development of the digital economy and providing potential startups with support.
Grab Ventures Ignite’s program partners include regional venture capital firm Gobi Partners, Toong – Co-working Space Developer, YKVN, and Amazon Web Services. Participating startups also benefit from a carefully selected immersion program hosted in Singapore by Singapore’s Infocomm Media Development Authority and cross-border sharing with Singapore-based startups. Program winners will be offered investments and in-kind benefits.
Grab Ventures Ignite will assess startups based on a range of criteria including but not limited to core team strength, sector attractiveness, value proposition, business model, and potential cooperation with Grab’s ecosystem. The flagship program will be offering:
Cash Investments for Potential Startups:
The program will announce up to 5 winners, and each winner will have a chance to win up to $150,000 in investment. Gobi Partners is Grab’s funding partner for this program. This makes Grab Ventures Ignite investment one of the biggest amongst Vietnam startup programs so far. All startups in the partnership will also have the opportunity to raise more funding from external investors during Demo Day at the end of the program, with the presence of prominent investors from across the region.
All program participants will receive cloud benefits up to $100,000 each. Also, each program winner will receive 6-months of co-working space, legal and financial advisory at the end of the program.
Professional Training and Mentorship:
All program participants will get access to 14-weeks of world-class expert workshops, 1:1 mentorship from senior leaders, immersion trips to regional Grab markets, peer learning, and networking.
Cross-Border Exchange with Singaporean Startups:
As part of Grab’s strategic collaboration with IMDA – PIXEL, participating startups will benefit from Grab’s cross-border sharing to better understand the market landscape.
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