Grab Ventures Velocity Announces First Batch of Southeast Asia Startup Acceleration Program Participants

Having previously opened registration for batch the first Velocity program, Southeast Asia's startup accelerator initiated Grab Ventures, Grab announced the 5 selected startups that are entitled to participate in the program for 16 weeks.

Three of them are Indonesian startups or startups that have businesses in Indonesia. They are meritorious, Minutesand BookMyShow. BookMyShow is actually a startup from India that is spreading its wings in Indonesia.

Two other startups are Tueetor and Helpling from Singapore. Five selected startups will get partners and access regionally. Grab also supports the growth of selected startups in the form of marketing activities.

To DailySocial, head of Grab Ventures Chris Yeo mentions, along with a team of professionals at Grab as well as support from private companies and government, Grab will work together to launch the program.

"Besides expanding the network, we also want to connect selected startups with relevant players from the network businesses we are broad in order to provide more opportunities for success," said Chris.

Grab Ventures Velocity is a startup development program supported by the technology ecosystem in Southeast Asia. Amazon Web Service (AWS) will provide a variety of benefits to selected startups through the AWS Activate Portfolio Plus plan and technical mentoring related to platform security, startup development, and best practice. MDI Ventures, which has networks in Singapore and Silicon Valley, will provide local expertise and access to their network of mentors.

Development program Grab Ventures Velocity in Indonesia complements the BEKRAF and Kominfo programs through various initiatives, such as Go Digital Vision 2020 and Go Startup Indonesia.

No choice category

You could say there is no specific category to join the program Grab Ventures Velocity. It is claimed Grab adjust the target program to be achieved.

"We evaluate startups based on several key factors. These include the strength of the team and management, the technology implemented, and the value of service to customers." end users. We also see more macro trends such as the current market presence and market position and market size to the scalability of the company's business model," said Chris.

Previous Grab has invested and conducted M&A for startups in the regional area, one of them Kudo in Indonesia. After the announcement batch first Velocity program, Grab Ventures announced the opening soon batch second.