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VIISA announces Batch 5 Accelerator Program participants

Released at: 14:39, 09/05/2019

VIISA announces Batch 5 Accelerator Program participants

Photo: VIISA

Four startups selected on May 9 for fifth Accelerator Program.

by Minh Do

VIISA has announced four startups selected for its fifth Accelerator Program on May 9 and also called for startups to join the sixth program.

Having worked with over 80 applicants for more than three months conducting due diligence and interviewing each and every idea, VIISA announced its refined in-take appraisal process for the fifth batch of the Accelerator Program to continue expanding its scope in early-stage investing. The program is designed to work with a mix of companies, which could include founders with just an MVP, those at the pre-seed stages or those with an existing product-market fit and even startups in Series B.

“Batch 5 is all about the refined acceleration process, where we have thoroughly fine-tuned the curriculum further to fit with Vietnam,” said Mr. Hieu Vo, CFO of VIISA. “The new process has also enabled us to be even more flexible to work with Series A to B companies and still value our contribution in helping their businesses.”

The four startups to join the latest batch are:

  1. SaveMoney - a full insurance service provider who combines an innovative insurance platform technology with high-quality brokerage advisory. Its solution is a highly-flexible and highly-scalable digital insurance platform with an integrated B2C advisory process using big data, giving the possibility to design, implement, and roll out existing and new insurance services within three months.
  2. Loglag - providing a truck and container booking platform with big data and AI techniques applied. By leveraging mobile connectivity, Loglag connects drivers and fleet owners to cargo and customers in order to make the logistics and transportation industry in Vietnam more accessible.
  3. VDES - a one-stop shop marketplace connecting event venues and event suppliers to customers in the simplest way with advanced technology such as big data, machine learning, and virtual reality. By providing the ecosystem service, customers can save 80 per cent of time and 30 per cent of cost in all booking processes and receive the best price guarantee. VDES also supports vendors to increase their competitive advantage in the market, reduce cost, and be more effective in managing businesses.
  4. TheBank - comparing products such as credit cards, loans, savings, and insurance to provide free financial advice to consumers. TheBank also connects customers with thousands of experts, consultants of banks and insurance companies across the country.

The foundation of the program remains steady as VIISA enters Batch 5 of its Accelerator Program. The three-month program provides participating startups with investment in cash plus an undisclosed amount of services such as co-working space, Amazon Web Services, HubSpot, Google Cloud, Mapbox, and Zendesk, commits to connecting startups to fantastic local corporate partners such as FPT and Dragon Capital, cultivates cutting-edge practices and principles to help companies thrive while they go fast and turn motion into progress, and helps the startups meet key investors who can join the journey and support them reach their next milestones.

VIISA commits to going together with startups that graduate from the Accelerator Program, which may be able to obtain follow-on funding of up to $200,000 from VIISA when they secure a new round of funding from other investors.

Startups in Batch 5 are expected to graduate by the Investment Day scheduled for July. The Investment Day will be comprised of startup pitches from Batch 5 and portfolio companies, presenting to more than 100 investors, mentors, corporate partners from over the globe.

Mr. Hieu also officially called for startups to participate in the Accelerator Program Batch 6, which is scheduled to begin in the third quarter of 2019.

Established in January 2017 by FPT Ventures and Dragon Capital, VIISA is an accelerator program and seed-stage fund that seeks to invest $6 million to build global-ready startups in Vietnam. After four batches, VIISA has graduated 25 startups, with successes including Base.vn, WeFit, UrBox, WisePass, and CyHome, which have created more than 350 jobs and raised a total of $5 million committed from other investors.

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