7 Startups Graduate from VIISA Accelerator with Investment Day

The Vietnam Innovative Startup Accelerator’s (VIISA) inaugural batch of 7 startups graduates with an Investment Day on 11 April at the Hard Rock Cafe in Ho Chi Minh City. This event was well-attended by Ho Chi Minh City's leaders and nearly 100 guests who are investors, big enterpries, startup communities, etc.  from countries like Vietnam, Singapore, Korea ...

VIISA Investment Day created opportunity for the startup community to meet, to have discussion and to seek investment from top regional investors.

Seven outstanding startups in various fields such as e-commerce, healthcare, fashion, etc. of VIISA’s first batch pitched to dozens of Vietnam and international investors such as NSI Ventures, Spiral Ventures, Cocoon Capital and Golden Gate Ventures, etc.

VIISA is one of the most prestigious startup programs in Vietnam, which is partnered by FPT, Dragon Capital Group and Hanwha Group (Korea). After 4 months since launching (from September to December in 2016), VIISA has attracted 150 start-up ideas in various fields, many of which have already been put into practice. Based on the criteria such as having a strong team to execute business ideas; Technological ideas have been applied in practice; scalability and sustainable development in the future, VIISA has selected 8 startups into the 3-month trainning. 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. Startups in VIISA are trained important entrepreneuship skills such as customer discovery, fund raising, sales, etc. in the past three months from top investors such as NSI Ventures, Golden Gate Ventures, FPT, Dragon Capital Group. In addition, VIISA will also continue to invest $ 200,000 - $ 500,000 into startups afterward.

 

Wefit founder, Nguyen Khoi said, "We got lots of investment since joinning VIISA. Besides, we also participate in training courses through which we adjust ourselves to fit the market demand. Another benefit is the opportunity to learn, practice, exchange between investors and the startup , between startups themselves. I think in the start-up strategy, each stage needs a different support. In the seed stage, investment funds such as VIISA will be a choice in startup strategy. "

After 3 months of accelerating and trainning, VIISA selected 7 most promising startup to provide pitches at VIISA Investment Day. 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”.

In the event, VIISA officialy announced to recruit the second batch. The call for applications opens today in www.viisa.vn. Second batch of VIISA will be tentatively start from July 2017.

VIISA’s first batch statements.

Fastsell Founder Nguyen Hoang Anh

"As a former employee at FPT, I understand the culture and business philosophy as well as knowing that FPT had experience in success and failure with some of its startups. Moreover, I admire VIISA’s founde because they are talented ones. That is why I registered my startup into VIISA. I was invested $ 15,000 and attended the training. Thereby, I have made clearer business plan such as using cash flow, developing products, accessing good capital without struggling in the first time. Feedbacks from investors have given me experience to have a proper go-to-market approach, to complete the product, to have clear goals, to have the boldness”

 

Butterfly Co-Founder Hub Tran Dang Van

"I have never thought before that I would make a product in Vietnam until there was a call from VIISA. With the funding support of VIISA, I no longer have to run around looking for a loan. In addition, VIISA's market experience has helped me and many start-ups to overcome the initial difficulties. "

VIISA’s founder statements:

Mr LE Hoang Anh, Chairman of VIISA and Managing Partner of Dragon Capital said, “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.”

 

Investor’s statements:

“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

“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

The 7 startups include:

Butterfly Wow aims to transform beauty through data science, computer vision and AI. Users find fashion and get the latest haircut for that best matches their looks.

Fastsell is a mobile app that allows you to list, discover and buy things from people around you quickly, reliably and securely.

Fixir helps motorists discover and book repairs and servicing from reliable workshops through their mobile app.

Lexis is a legal platform that helps companies and individuals get legal advice and help through a prepaid package and a toll-free number.

Usedata helps e-commerce stores increase revenue through product and customer analysis with machine learning and big data algorithms.

Wefit provides you access to more than 200+gyms and fitness classes with their monthly subscription plan in Vietnam

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.