Accelerator Program Efforts to Support Startup Business Growth

After finished batch 4st  Grab Ventures Velocity (GVV), which is also supported by BRI Ventures' Sembrani Wira, has a aligned vision and mission, namely to support the startup ecosystem in Indonesia.

In the #SelasaStartup session, Director of Business Development Strategy & Special Projects Grab Indonesia Rivana Mezaya and VP of Investment & Business Development BRI Ventures Markus Liman Rahardja shared interesting tips for Indonesian startups who are interested in participating in the accelerator program.

Improve network and ecosystem

One of the benefits received by the participants of the GVV accelerator program is the opportunity for startups to test business models and products that take advantage of the ecosystem. Grab. Starting from utilizing the user, merchants, and other opportunities.

In themed programs 'Scaling Up Together: Empowering Startups, Supporting Micro Entrepreneurs', the finalists have tested their products and business ideas by collaborating in the ecosystem Grab, starting from Grabkitchen, Grabfood, GrabMart, until GrabExpress to present solutions for MSMEs.

They also attended Impact Day, presentation and introduction of business ideas to venture capital and sharing sessions with Anthony Tan, Group CEO and Co-Founder Grab, who shared his experience building Grab.

"Grab with the existing ecosystem, it offers a means for startups to experiment with business model tests to new products. Ecosystem provided user and customer and also helps from the marketing side to help startups," said Rivana.

GVV 4 has graduated 6 startups, namely Cooklab, Crewdible, Dagangan, iSeller, majoo, and Octopus who have completed 16 weeks of training and mentoring from industry-leading mentors. During the program, the three finalist startups received funding, starting from iSeller with pre-series B, Dagangan with pre-series A, and majoo with pre-series A.

Investment opportunity

In particular, the accelerator program is an effort that is presented to support the growth of the startup business. Especially for those who already have the product and a little revenue, but it is still difficult to develop the business. Through this program, it is hoped that they can get better access to opportunities to expand their business, take advantage of the network and mentorship of the ongoing program.

Sebagai CVCBRI Ventures has considerable interest in startups participating in the accelerator program. Not only will they have the opportunity to gain knowledge and broader insight about the startup business, but as investors they will also see the potential of startups that meet the criteria.

"In this case we will return to 5 framework from BRI Ventures. Namely, the startup must have a good founder and product, and have a broad market potential, good business performance. And from the investment side, it is seen from the capital and business risk," said Markus.

As a CVC, BRI Ventures continues to open up great opportunities for startups to get funding from them. In addition to continuing to foster strategic cooperation with Grab through the Graab Ventures Velocity accelerator program, in the future BRI Ventures also has plans to launch a special accelerator program for blockchain startups in Indonesia.

"Through this program, startups have the opportunity to conduct trials to understand further the potential to develop blockchain in the startup ecosystem in Indonesia," concluded Markus.