Grab unveils first batch of startups to enter its accelerator

Grab has unveiled the first batch of startups that are enrolling in its Velocity accelerator program.

Velocity is run by the company’s innovation arm, Grab Ventures, which was launched by CEO Anthony Tan in June.

Grab CEO Anthony Tan launched Grab Ventures at Innovfest Unbound 2018 in Singapore. / Photo credit: Grab

After receiving “close to 500 applications,” Grab has selected five tech startups from around the world for its first Velocity batch. They are:

BookMyShow (India) – The Indonesian unit of this online ticketing platform for cinemas, events, and karaoke recently hosted gigs from Guns N Roses and Charlie Puth in Jakarta. In July, its Indian parent raised US$100 million in a series D round led by TPG Growth.

Helpling (Germany) – Part of the Rocket Internet stable, this startup allows users to book home-cleaning services on demand. Singapore is its Asia-Pacific base; regionally, it also operates in the Australian cities of Melbourne and Sydney.

Minutes (Indonesia) – Need a haircut? Mani-pedi? Minutes can help. In addition to providing a booking portal for users, it also supplies beauty parlors, salons, and barbershops with enterprise software and point-of-sale systems.

Sejasa (Indonesia) – Part of Malaysia-based RecomN, Sejasa is an on-demand marketplace for home improvement services, linking users with renovation and maintenance tradespeople.

Tueetor (Singapore) – This startup aims to do for private tutors and their would-be students what Grab has done for private drivers and their would-be passengers. Tueetor connects students with nearby tutors, with the aim of bringing transparency and accessibility to the private education market.

The 16-week Velocity program includes a proof-of-concept track, allowing participants to leverage the Grab platform and user base to pilot their services; an advisory track, granting them access to experts from Grab and its external partners; and a networking track, helping them to strike their own partnerships and do deals to scale their businesses.

The five inaugural Velocity entrants will have their services integrated into the Grab app for a period of six weeks as part of the proof of concept.

They will also attend a pitch day at the end of the program in January 2019. At the event, they’re expected to debrief on the outcomes of the integration and pitch to executives from Grab and its partner VC firms to explore potential longer-term collaborations and investments.

“This is just the starting point for what we hope will be a long-term relationship,” said Grab Ventures head Chris Yeo, adding that any investment decision involving Velocity participants will come after they’ve completed the program. “We are not a financial investor only looking for financial returns, that checks in on startups every so often to see how they’re doing. We will put in capital resources, as well as engineering and other resources.”