Grab ties up with University of Indonesia to nurture ‘startup talent’

FILE PHOTO: A man walks past a Grab office in Singapore March 26, 2018. REUTERS/Edgar Su/File Photo

Ride-hailing giant Grab has partnered with University of Indonesia to seek and nurture ‘startup talent’, focusing on sectors such as technology and medical, besides social areas.

Through its accelerator programme Grab Ventures Velocity, the unicorn will become a strategic partner in the university’s academic community incubation ‘UI Works’, Grab said in a statement on Thursday.

The partnership will help mentor early-stage startups that are born out of UI Works’ accelerator programme.

Grab will participate in the first batch of ‘UI Works’, thereby helping the university with guest speakers and mentors, while also evaluating startups and selecting businesses which have the potential to qualify for Grab Ventures Velocity programme.

“We hope that this collaboration can continue to stimulate the spirit of innovation and entrepreneurship with UI’s academic community to create the best-in-class startup company that will take Indonesian economy to the next level,” University of Indonesia rector Muhammad Anis said in a statement.

“UI Works” has three distinct phases in its incubation programme. The first phase is categorised as ‘pre-accelerator’, wherein startups are welcome to join the selection process. The second one is called the ‘accelerator phase’, where selected startups will go through a four-month intensive programme to develop their businesses. Last but not least, there will be the ‘demo day’ when startups will get a chance to showcase their businesses to investors.

UI Works programme will be opened for registration in the middle of June this year.

Other than nurturing startups, Grab and UI have also collaborated wherein the former will provide internship to engineering students in Grab’s Singapore or Indonesia office under its ‘Engineering Talent Future Leader programme’. The registration process for this will begin on May 16.

Launched in July last year, Grab Ventures is the investment arm of Grab. The company set aside Rp 3 trillion ($250 million) to seek and nurture Indonesian startups for the next three years, which later will be incorporated into Grab’s business and platform.