S Korea’s Hanwha, BIDV join FPT, Dragon Capital to run $8m accelerator in Vietnam

South Korean conglomerate Hanwha Group and Vietnam’s third largest lender BIDV have partnered to run the Vietnam Innovative Startup Accelerator (VIISA) along with the initial two co-founders, Dragon Capital and FPT Corporation.

VIISA, an open-ended fund, will invest $8 million in Vietnamese startups with the objective of making them global-ready.

The accelerator, which launched in March, introduced its website www.viisa.vn.

It has now initiated the process of calling for applications to select 10 potential startups for a four-month training phase.

The accelerator targets to fund eligible startups with $15,000 in exchange for a 5 per cent stake in the companies.

Along with the networks already available through Dragon Capital and FPT, the teams will also be exposed to Hanwha’s and BIDV’s investment links and the bank’s lending and financial management services.

A demo day, slated for March 2017, aims to enable startups to attract follow-on funding of up to $500,000. As each boot camp ends, VIISA hopes its graduates will be assisted in regional expansion, particularly into Singapore and South Korea.

“Vietnam is one of the most vibrant ecosystems in Southeast Asia. We believe VIISA plays a decent role in helping accelerate the startups from the idea stage to doing real business, which will boost the entrepreneurship ecosystem here and ultimately create values to a wider society,” commented Adrian Tan, VIISA’s programme director, in a press statement.

Tan was a former coach at JFDI Asia, which recently decided to close its acceleration programme.

Other mentors include Dragon Capital executives, Tran Huu Duc, head of FPT Ventures, Golden Gate Ventures managing partner Jeffrey Paine, NSI Ventures partner Hian Goh and Japanese VC firm IMJ Investment Partners’ principal Ryu Hirota.

Also read:

Vietnamese government VC fund plans to co-invest with private VCs

Vietnam’s FPT Corporation kicks off accelerator & VC arm with $3m seed fund

Dragon Capital, StanChart join hands to launch Vietnam Fintech Club to develop nascent sector

Vietnam Silicon Valley, a tough name to live up to for the govt-backed accelerator

Exclusive: Need to create Vietnamese version of Silicon Valley: 500 Startups’ Eddie Thai

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.