The Vietnam Innovative Startup Accelerator’s (VIISA) inaugural batch of 7 startups graduates with an Investment Day on 11 April 2017 at the Hard Rock Cafe in Ho Chi Minh City to almost 130 investors, corporate partners and mentors coming from Singapore, South Korea and the US.
VIISA is a partnership of Dragon Capital, FPT and Hanwha Investment.
“VIISA’s got a really good first batch. While most investors considering investing into Vietnam early and risky, I believe that the accelerators such as VIISA will help investors like us with quality deal flow. ” Jeffrey PAINE, Managing Partner of Golden Gate Ventures
Over the last three months, the startups were mentored by prominent venture capitalists and entrepreneurs in the region. They worked hard to get product-market fit and prove that they have a scalable, repeatable, business model. Regional funds such as NSI Ventures, Spiral Ventures, Cocoon Capital and Golden Gate Ventures conducted office hours with each individual founder.
Lam TRAN, Co-founder and CEO of Wisepass, pitching to the crowd
“I am particularly excited about Vietnam and I believe that there is definitely going to be successful teams that build businesses more than a market capitalisation of a US$100,000,000 in the next two-three years. VIISA helps us get a glimpse into those early stage companies”, says Hian GOH, Founding Partner of NSI Ventures
Mr Dominic Scriven, Executive Chairman of Dragon Capital addresses the investors
The 7 startups include:
Rinat Gataullin, founder of Lexis
Wisepass is a lifestyle mobile app with a subscription plan. For 6 million VND per month, members get to enjoy a bottle of spirits, wine and lunch at top bars, cafes and restaurants in Ho Chi Minh City.
Mr LE Hoang Anh, Chairman of VIISA and Managing Partner of Dragon Capital says “To see our first batch graduate is testament to the hardwork and support from our startup founders, government officials and corporate partners. I am excited for the journey up ahead for our portfolio.”
Mr TRAN Huu Duc, CEO of VIISA, and Head of FPT Ventures, “We are deeply encouraged to see the support from local and foreign investors for our startups, and also for the cooperation between FPT, Dragon Capital and Hanwha for making this happen!”
Mr Sangyeop KANG, Investment Officer at Hanwha Investment said, “The VIISA team and startups have worked extremely hard for this day and I am very proud of this inaugural batch. This is just the beginning and I wish the 7 companies success with their fund-raising.”
Mr Adrian TAN, Program Director of VIISA says, “Investment Day is the culmination of months of hardwork from the startup founders and VIISA’s founding members. The support from the startup ecosystem and regional mentors and investors will spur VIISA on to building more global startups in Vietnam”.
VIISA invested US $30,000 ($15,000 cash and $15,000 in kind) into each company and provides technical resources, office accommodation and access to more than 100+ world class mentors and investors. Promising teams will also get up to of $200,000 of follow-on funding
VIISA’s second batch will start in July 2017. The call for applications opens today.