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Vietnam Silicon Valley Accelerator to invest $40,000 in startups

Released at: 17:00, 24/06/2019

Vietnam Silicon Valley Accelerator to invest $40,000 in startups

Photo: Vietnam Silicon Valley Accelerator (VSVA)

"VSV Bootcamp Program Batch 7" to be held in July.

by Ngoc Lan

Vietnam Silicon Valley Accelerator (VSVA) continues to invest in startups this year, with capital of $40,000, double that in 2018, through the “VSV Bootcamp Program Batch 7”.

The VSV Bootcamp Program Batch will be held in July and give startups the opportunity to develop their ideas and models with initial investment and training programs over four months, working directly with expert advisors in the field.

VSVA is committed to working with startups throughout their development and will support the resolution of the operational or strategic problems startups often encounter. Startups to already receive support in their development include Lozi, Schoolbus, Ship60, Hachi, True Juice, Minet, and others.

Startups participating in the program not only utilize VSVA’s available resources such as advisors and co-working space but also receive other support from VSVA’s partner and expert network.

This network includes more than 75 invested startups, more than 60 organizations, and large multidisciplinary corporations ranging from agriculture, finance, education, and communications to artificial intelligence and blockchain, such as VIB International Bank, Lotte Group, Samsung, Microsoft, VTC Mobile, Baker McKenzie, and CocCoc.

VSVA will support startups by building a network of suitable strategic partners, creating a platform to accelerate the growth process.

Programs and activities to connect investors such as FeedBack Day and Demo Day in countries with a growing venture capital industry, such as South Korea and Singapore, have become regular activities to create opportunities for startups to reach out directly to investors and investment funds.

In Vietnam, Demo Day 2018 attracted ten startups and about 100 investors, including professional investors. Startups included Canets, Fresh Deli, Hue Packaging, True Juice, 689Cloud, Turline by Cores, Roborzoid, Handfree, Winme, and Peko Peko. The goal is to provide an opportunity for startups to present their business results and growth potential to investors, thereby establishing a relationship with potential investors and beginning to raise funds. It is also an opportunity for startups to receive feedback from investors and experts to improve their business models.

VSVA is the first business promotion organization established in Vietnam based on valuable research from the Vietnam Silicon Valley Scheme, the first Vietnamese Government project to directly support startups.

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