The Vietnam Innovative Startup Accelerator (VIISA) launched today by opening applications for its inaugural batch in November 2016.
Supported by partnerships with major corporations such as BIDV, FPT, Dragon Capital and Hanwha Investment, the accelerator is set to invest US$8 million to Vietnam-based startups led by local and foreign entrepreneurs.
With the launch, VIISA also announced the appointment of Adrian Tan, former Entrepreneur-in-Residence/Program Manager of Joyful Frog Digital Incubator (JFDI), as Program Director.
“There are more than 650 million people in Southeast Asia and a fast growing middle class,” Tan said in a press statement. “We believe that VIISA can help entrepreneurs create value through innovative products and services for the emerging markets that can impact millions of people.”
VIISA aims to attract foreign and local entrepreneurs to “seize the opportunities” and build their startup
“We are particularly interested in B2C/B2B platforms, fintech, and insurtech for the inaugural batch, [although] we are open to getting good quality teams from any sectors,” Tan explained in an e-mail to e27.
In the programme, each company will receive up to US$15,000. The accelerator will also provide up to US$200,000 worth of technical resources, office accommodation, accountancy and bank account services, and access to more than 100 world class mentors and investors. Promising startups will also receive up to
to US$500,000 of follow-on funding.
Application is now open for the programme’s inaugural batch in December. Shortlisted startups will be accepted into a one-month online pre-accelerator programme in November. After that, the 10 selected companies will attend an on-site programme for three months in Ho Chi Minh City.
The teams will then present their pitches in a Demo Day on March 2017 to invited investors.
Image Credit: VIISA