According to Grab, it has officially launched its Grab Ventures Ignite in the region of Vietnam. The 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.
In support of the Vietnam Government’s objective of developing the national startup ecosystem in the region, Grab Ventures Ignite formed a strategic partnership with Vietnam’s National Innovation Center. As part of the partnership, Grab Ventures Ignite and the NIS will collaborate in planning and executing the programme.
“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,” said Grab as reported by DealStreetAsia.
Grab said that all participants of the Grab Ventures Ignite will get access to 14-weeks of world-class expert workshops, 1:2 mentorship form senior leaders, immersion trips to regional Grab markets, peer learning and networking.
Nguyen Thai Hai Van, Managing Director at Grab Vietnam said, “The startup ecosystem in Vietnam is growing incredibly fast, and tech clusters are also expanding geographically. We are proud to be part of this growth story and actively contributing to it, whether that’s through our R&D center in Ho Chi Minh City, investing in partnerships with local startups like Moca or enabling millions of people in Vietnam to have greater access to digital services.”
“Today, we are excited to launch the Grab Ventures Ignite with the backing of Vietnam National Innovation Center and other world-class partners. With Grab Ventures Ignite, we are committed to encouraging tech entrepreneurship and support the growth of vibrant startup ecosystem in Vietnam,” Hai Van added.
Grab said, as a leading technology company, they are well placed to help startups to move to the next level. Grab envisions 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.
“Vietnam’s startup ecosystem is very well poised for digital disruption by startups, with investments increasing sharply over the last year, we believe that we are in a strong position to propel it to the next chapters through Grab Ventures Ignite,” said Chris Yeo, head of Grab Ventures.
Also commenting is Dan Chong, Managing Director of Gobi Partners saying, “Our firm has already invested in Vietnam and we see the country’s value and potential: their technical talent is strong and supporting their startup scene fits our investment thesis of investing in emerging markets.”
Interested participant have until April 10 to apply for the program.