Singapore-based tech giant Grab has partnered with the city-state’s Infocomm Media Development Authority (IMDA) to pilot its recently announced Grab Ventures Ignite accelerator in Singapore.
Photo credit: Grab
Grab Ventures Ignite Vietnam is a 14-week scale-up program dedicated to early-stage startups in the country. With its partnership with IMDA, Grab is opening up the accelerator to Singapore-based startups looking to expand into the Vietnamese market.
Two companies from the city-state will be selected for the full Ignite program, according to a statement. They will be able to benefit from Grab’s cross-border expansion support to accelerate their entry into Vietnam.
The Singapore pilot is also set to give three other startups the opportunity to join a three-day bootcamp hosted by Grab, IMDA’s innovation space Pixel, and Digital Industry Singapore.
The five selected firms will be eligible to receive cloud credits of up to US$100,000 each, access to facilities at Pixel, as well as consultation and mentorship services.
According to the statement, Grab and IMDA will evaluate startups according to core team strength, current standing in the Singapore market, potential fit with the Vietnamese market, and readiness to expand, among others.
Startups interested in joining the Singapore leg of Ignite can apply by April 10 this year, Grab said.
Ignite was launched last month as an extension of the ongoing Grab Ventures Velocity accelerator focused on post-seed startups. Grab particularly encouraged startups from sectors such as mobility, food, payments, financial services, logistics, ecommerce, and AI to apply for the program.
Editing by Charmaine de Lazo
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