Grab partners IMDA to launch accelerator in Singapore

FILE PHOTO: The helmet of a Grab bike rider is seen during rush hour traffic in Jakarta, Indonesia, July 18, 2016. REUTERS/Iqro Rinaldi

Southeast Asia’s super app Grab and the Infocomm Media Development Authority (IMDA) on Tuesday announced a partnership to pilot an accelerator programme for Singapore-based startups looking to expand overseas.

Grab Ventures Ignite (GVI) will be a 14-week accelerator programme and held alongside the GVI Vietnam programme to enable startups from both countries to exchange ideas and learn from one another.

Grab already offers Grab Ventures Velocity (GVV), a startup scale-up programme, and has supported 15 startups regionally including TreeDots, Glife, Helpling.sg, and Tueetor.

“Grab is committed to help more Singapore startups and micro SMEs build strong digital capabilities, and capture opportunities in the digital economy through leveraging our expansive reach across the region, assets and capabilities and partnerships… The effort is also aligned to Singapore’s interest to become the global-Asian node for tech, innovation and enterprise,” said Chris Yeo, Head of Grab Ventures.

Meanwhile, Howie Lau, Chief Industry Development Officer, IMDA, said that the company is looking for ways to create new business opportunities for its local tech companies.

“We are excited for this partnership, which will allow Singapore-based startups to gain a foothold in Vietnam. Building up the capabilities and creating access for local companies is especially critical in this current climate, where firms must continue digitalising and innovating to unlock new growth prospects,” he said.

Under the programme, two startups will be selected for GVI, while three other startups will receive the opportunity to join a 3-day boot camp jointly hosted by Grab, IMDA PIXEL and Digital Industry Singapore (DISG) at PIXEL’s premises in One-North, Singapore.

The five programme participants will also be eligible to receive cloud credits of up to $100,000 each.

Partners of GVI include Vietnam’s National Innovation Center (under Ministry of Planning and Investment), regional venture capital firm Gobi Partners, coworking space provider Toong, YKVN, and Amazon Web Services.

Grab had launched the accelerator in Vietnam in February.

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.