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VIISA to help Vietnamese startups grow

Adrian M. Reodique | Oct. 18, 2016
Successful startups will get funding and assistance for their business expansion in South Korea or Singapore.

The Vietnam Innovative Startup Accelerator (VIISA) is set to kick-off its inaugural accelerator programme next month, after launching on 5 October 2016.

VIISA aims to attract foreign and local entrepreneurs to build their startups in Vietnam. "We believe that VIISA can help entrepreneurs create value through innovative products and services for the emerging markets that can impact millions of people," said Adrian Tan, Programme Director of VIISA, in a report by e27.

The three-month accelerator programme consists of three phases, namely: build, measure, and growth.

In the first phase, startups will be taught about vision setting, pitching, legal matters, and building a minimal viable product. 

In the second phase, startups will work on their objectives and key results (OKRs), pirate metrics, as well as learning about business-to-consumer (B2C)/business-to-business (B2B) sales and doing user tests and research.

In the last phase, startups will test the traction channels for growth of their businesses, learn about building their brands, fundraising mechanics, and prepare for their final Demo Day to possible investors, on March 2017.

Startups that are interested to join the programme only have until Thursday (20 October 2016) to apply.

Shortlisted startups will also need to attend a one month online pre-accelerator programme which will start on 3 November 2016.

e27 reported that only 10 startups will proceed to the actual accelerator programme in Ho Chi Minh City, which will start in December.

During the course of the programme, each team will receive up to US$15,000, free office space, and mentorship from VIISA's global partners. In addition, selected startups will also receive US$200,000 worth of technical resources, access to IT consultancy, bank accounts and administration, and accounting services. 

Successful startups will get a follow-on funding of US$500,000 from VIISA's network of investors, and assistance for their business expansion whether in South Korea or Singapore.

 

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