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Three startups selected for VIISA's fourth Accelerator Batch

Released at: 14:14, 30/09/2018

Three startups selected for VIISA's fourth Accelerator Batch

Photo: VIISA

Startups in Batch 4 expected to graduate program by Investment Day in December.

by Minh Do

VIISA has announced that three startups have been selected for its fourth Accelerator Batch.

VIISA Accelerator Program Batch 4 continues riding the wave by setting the bar for early-stage startups. Selected out of dozens of applications, the program shortlisted three startups to join its latest batch, with a focus on Business-to-Business (B2B) technologies.

The three startups are SecurityBox, offering optimal solutions to overcome all risks and problems in cybersecurity; InnKom, an easy-to-use application helping shoppers find specific brands and providing indoor navigation; and Goong, a mobile map platform that helps users quickly reach places and facilitates going out and keeping track of loved ones.

“The global trend of startups has shifted towards developing B2B technologies,” said Mr. Tran Huu Duc, CEO of VIISA and Director of FPT Ventures. “One of the challenges for B2B startups is that their users are familiar with behaving and working in traditional patterns and it is difficult for them to change. Therefore, B2B startups have to face more complicated issues and take more time to solve pain points. It’s hard, but we are excited to work with our startups in this batch for the next three months.”

The three-month program provides participating startups with $15,000 in cash plus an undisclosed amount of services such as co-working space, Amazon Web Services, HubSpot, Google Cloud, Mapbox, and Zendesk, direct access to corporate partners such as FPT, Dragon Capital, and participation in VIISA Investment Day to have the chance of pitching before more than 100 investors from around the world.

“In creating this accelerator program, we do not look to reinvent the wheel or teach the founders how to run their businesses,” said Mr. Leo Pham, Program Manager of VIISA. “These founders are already some of the best experts in whichever industry they operate in. As an accelerator, we take it on ourselves to help them crystalize these skills and experiences into a solid investment pitch, with which they can successfully raise funds from both local and regional investors.”

Launched in January 2017 by FPT Ventures and Dragon Capital, VIISA has become one of the most prestigious startup accelerators in Vietnam. After three batches, it has graduated 22 startups, with highlighted successes such as WeFit, UrBox, WisePass, and CyHome. The top 5 startups of VIISA increased revenue ten-fold, built networks with over 1,300 partners in five countries, and have more than 13,000 active users monthly.

The program syllabus includes three main areas: validating assumptions and proving product-market fit; learning techniques to strategize for future growth plans; and preparing investment pitches and storytelling skills for VIISA Investment Day and any further interaction with potential investors.

Mr. Hieu Vo, CFO of VIISA and Associate Director of Dragon Capital, set out the challenge for VIISA moving forward. “Vietnam has always possessed most of the required essentials for fast-growing startups, including a broad technical talent pool and many resilient business founders,” he said. “Through the VIISA program, we hope we can build and address the need for a meaningful and trusted place to nurture startup teams and grow the business.”

Startups in Batch 4 are expected to graduate by Investment Day, scheduled for December. Investment Day will comprise startup pitches from Batch 4 and portfolio companies to more than 100 investors, mentors, and corporate partners from around the globe.

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