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Three startups receive $15,000 from VIISA's fourth Accelerator Batch

Released at: 10:34, 06/12/2018

Three startups receive $15,000 from VIISA's fourth Accelerator Batch

Startups in Batch 4 and portfolio companies at 4th VIISA Investment Day (Photo: VIISA)

VIISA graduates startups at 4th Investment Day.

by Minh Do

SecurityBox, GOONG, and PhyPass - three startups in the VIISA Accelerator Program Batch 4 - have received investment of $15,000 in cash and an undisclosed amount of in-kind services such as co-working space, Amazon Web Services, HubSpot, Google Cloud, Mapbox, and Zendesk.

VIISA announced the three startups had graduated from Batch 4, marked by VIISA Investment Day at the Renaissance Riverside Hotel in Ho Chi Minh City on December 4.

VIISA Investment Day #4 featured five impressive startups from VIISA’s portfolio, in industries such as cybersecurity, facial recognition, location intelligence platforms, smart apartment ecosystems, and online ed-tech platforms. More than 100 honorable guests, including investors, mentors, corporate leaders, and startup community figures attended the event.

The founders also underwent intensive training in the program, from acquiring early customers to avoiding problems such as a lack of market need, product mistiming, talking to investors, closing business and investment deals, and developing scalable business models. They came on stage at VIISA Investment, presenting real businesses with real customers and recording over $200,000 in revenue growth and strong interest from top-tier investors in less than three months.

“Before participating in the VIISA program, we focused on the business-to-customer (B2C) model, but we could not find a monetization plan,” Mr. Long Nghiem, Founder and COO of GOONG, said at Investment Day. “We thought about changing the model to business-to-business (B2B), but we could not find customers. Joining the VIISA Accelerator Program has been beneficial to GOONG, with a network of partners introduced by VIISA helping us a great deal in clearing the direction ahead and proving a product-market fit.”

“VIISA’s Batch 4 has been the most challenging but most exciting so far,” said Mr. Hieu Vo, CFO of VIISA. “We enjoyed various types of issues on both fronts, working with the founders and closing further investments for the alumni. Most importantly, the VIISA Accelerator Program doesn’t end on Investment Day, but continues to support founders for the life of their ventures and beyond. Having two full years in existence, the founding shareholders are convinced about the impact we have created for the ecosystem. We are optimistic about the future batches to come, starting with VIISA Fintech Lab in early 2019.”

CyHome and Ella Study - two startups that graduated from Batch 2 - also pitched at the event as part of post-program development. CyHome’s customer numbers have doubled compared to last year, with 42 apartments and more than 18,000 residences, and it has more than ten business partners in various services such as payments, services, and goods, which add major value to customers. Ella Study, meanwhile, developed relationships with more than 50 partners worldwide, attracting over 2,800 alumni on its platform. It has reached 400 students this year with new services covering their overseas study needs - full consultation packages, pick-up on arrival, and study-tutor services.

In his closing speech on Investment Day, Mr. Tran Huu Duc, CEO of VIISA and Head of FPT Ventures, officially called on startups to participate in the Accelerator Program Batch 5, via its website, starting December 10. Batch 5 is scheduled to begin in the first quarter of 2019.

Five startups that made presentations at Investment Day:

  1. SecurityBox: Supports enterprises and organizations gain an overview of cybersecurity problems and offers optimal solutions to overcome all risks and problems.
  2. GOONG: A mobile map platform, Goong helps you to quickly reach places, facilitates going out with friends, and keeps track of your loved ones.
  3. PhyPass: Human Recognition and Behavior Understanding for the Physical World using AI.
  4. Ella Study: Online platform connecting students and alumni for consultation to simplify global studies.
  5. CyHome: A smart apartment ecosystem that aims to change the way people live by developing e-solutions for apartment and building management.

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