Alpha Vision launches JFDI-style startup accelerator for Vietnam

Visual from Alpha Vision's website

Vietnam-based tech company Alpha Vision has launched the Alpha Accelerator Program (AAP), aimed at fostering rapid growth of local startups.

Startups that make the cut will get funding to the tune of $25,000, and will also be provided with technical support, to help the company prepare for Series A funding round.

The program is looking for potential teams that are able to generate at least $3 million in revenue after two to three years of establishment. The accelerator is interested in companies operating in the sectors of software, e-commerce, mobile apps, education and social businesses.

“We aim to support each startup with $10,000 in cash, as well as infrastructure and technical assistance worth up to $15,000, helping them build their workplace with the best amenities in Vietnam,” an Alpha Vision official told DEALSTREETASIA.

She said that the company will coordinate with outside investors to fund its projects of nurturing the startups. “We are their investor and, at the same time, their agency for networking,” she added.

AAP is the first startup accelerator in Vietnam to adopt the operation models of Techstar, US-based Y Combinator and Singapore’s JFDI, due to the relationship that its founder Nguyen Ngoc Nam has formed with the Singapore’s startup ecosystem.

Nam, a holder of doctor degree from Nanyang Technological University, came back to Vietnam in 2013, after more than 10 years living and working in Singapore, to establish Alpha Vision, a software outsourcing company.

He then built AAP, following the model of Singapore’s Asia startup funding program JFDI (the Joyful Frog Digital Incubator).

Based on the collaboration with the foreign incubators, AAP is looking at a success rate of 50-60 per cent, which means startups assisted by the program will have a 50-60 per cent chance to be invested in, during the next round.

The company official also revealed that Alpha Vision will acquire some 5-10 per cent equity in an investee company to maintain the program’s support. Alpha Vision, itself will be the investor for further rounds of investment.

Related stories:

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IPP offers funding grant to Vietnam’s startups & incubators

Exclusive: YCI considers supporting Vietnamese startups

Vietnam’s locative audio platform Echoes seeks deals with local organisations

Exclusive: Vietnam travel site Bizigo seeks funding to expand ops

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.