Grab Ventures Ignite
What is Grab Ventures Ignite?
Grab Ventures Ignite is a 6-months scale-up programme dedicated to Vietnamese early-stage startups aimed at encouraging technology entrepreneurship and supporting the growth of Vietnam’s startup ecosystem.
All programme 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.
Our Ideal Startup
A startup based in Vietnam
Strong focus on Vietnam or with operations that are based in the country
Post-MVP, with non-zero existing customer base, and total external funding of no more than US$1 million
Strong fit with Grab's platform or ecosystem preferred
Dedicated full team
A full team that is highly dedicated to solving problems in Vietnam
Able to commit to the 14-week programme
2 co-founders or 1 co-founder and 1 core member to attend full programme
Early market traction
Strong MAU, GMV or revenue preferred
Grab has been blessed to be where it is today because bigger players have helped us. Our growth and impact marks a time when SEA startups can rise and become global companies. As a regional tech champion now, we have the responsibility to keep growing the ecosystem, and one way to do that is to empower the tech startups in Vietnam.
We believe that the startup ecosystem in Vietnam has a huge potential for breakthrough. As a leading technology company, we are well placed to help it move to the next. With Grab Ventures Ignite, we are committed to growing the vibrant startup ecosystem in Vietnam and contributing our part in solving the country’s challenges of today and tomorrow.
Grab Ventures Ignite targets Vietnamese pre-seed to seed stage startups and focuses on building founder and startup capabilities through workshops, mentorship, peer learning and market immersions. Successful startups are offered post-programme investments and in-kind benefits along with light touch post-programme support from Grab. The core programme itself will occur over three months, while post programme support will continue right after for another period of 3 months.
Grab Ventures Velocity, on the other hand, targets scale-stage startups that are more mature with a strong existing market traction and focuses on testing their solutions through Grab's ecosystem through pilots. Successful startups are offered platform partnerships with Grab post programme.
We encourage all tech startups focusing on the Vietnam market to apply with preferred criteria as follows:
1. Post-MVP, with non-zero existing customer base, and total external funding of no more than US$1 million
2. Strong fit with Grab’s platform or ecosystem
3. Strong MAU, GMV or revenue traction
4. Dedicated full team
5. Able to commit to the 14-week core programme. We require either 2 co-founders or 1 co-founder and 1 core member to attend the core programme from the period of July to October.
We will accept up to two exceptional Singapore-based startups expanding to the Vietnam market to join the programme to support their cross-border expansion. This is part of our strategic collaboration with IMDA PIXEL.
You can apply through our website at http://tiny.cc/GVI and submit your application before June 30th.
We will evaluate startups based on a range of criteria including, but not limited to, core team strength, sector attractiveness, value proposition, business model, and possible synergies with Grab’s ecosystem.
Yes! The criteria should be used as a guidance. In such scenarios, we encourage you to explain clearly in your pitch deck why your startup should be considered for the programme in spite of not meeting our criteria.
Grab Ventures Ignite evaluates startups on a rolling basis over the application period and will shortlist up to 50 startups for an interview round. Upon receiving your application, we will respond to you within 1 week on the next steps if your startup is chosen to proceed to the interview stage.
Up to 20-25 startups qualifying from the interview round will be given 2 weeks to confirm their participation and will be invited to attend a 1-week bootcamp in Ho Chi Minh City in July.
At the bootcamp, the programme will further select up to 10-15 startups that will form the cohort for the full programme.
We envision Grab Ventures Ignite to be a transformative opportunity for promising Vietnamese founders to grow their startup with capability building support from Grab and its strategic partners. All programme 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.
Singapore-based startups that join this programme will benefit from our cross-border expansion support to accelerate their entry into the Vietnam market.
While there are no upfront investments at the start of the programme, we will announce up to 5 winners and each winner will have a chance to win up to $150,000 in investment, 6-months of co-working space, legal and financial advisory at the end of the programme.
In addition, all programme participants will receive cloud benefits up to $100,000 each and the opportunity to raise more funding from external investors during Demo Day at the end of the programme, with the presence of prominent investors from across the region.
No. Collaboration agreement, if applicable, will be considered separately on a case-by-case basis. At the same time, as startups prepare to be considered to become a Grab partner, up to 5 selected startups will receive post-programme support from Grab, where we do consultations from various departments every month.
Yes. If your startup is not incorporated yet, we highly encourage you to incorporate as you apply to the programme in order to be eligible for funding.
Ho Chi Minh City. Startups only have to be on-site on the days when workshops or other events are occurring. This would generally take 1 to 2 days per week. Please note that there will also be two immersion trips to regional Grab markets as part of the programme.
Yes, you don’t need to be based in Ho Chi Minh City and we will cover transportation and accommodation costs. However, if you are selected, we will require you to attend all activities during the programme from July to October 2020, including two immersion trips to regional Grab markets.
Yes, the programme will be conducted in English. To make this a truly world-class experience, Grab will invite experts from across the region and globe. Hence, preferably at least 1 out of the 2 co-founders should be proficient in English.
For additional queries, you may contact us through our contact form at: http://tiny.cc/gvinquiry