How Grab Ventures Velocity propels startup on a fast track to growth

Grab Ventures Velocity Batch 6’s graduation ceremony in Jakarta on December 11. / Photo credit: Grab

Five finalists of the sixth edition of Grab Ventures Velocity (GVV) – Delegasi, Pasarnow, Eratani, Greenhope, and BintanGo – have officially completed their participation in the Indonesia-based accelerator program.

Their journey culminated with a graduation ceremony in which the participants presented their achievements from the four-month program.

This ceremony, which also marked the closing of GVV Batch 6, featured a sharing session by renowned economist Chatib Basri, who was Indonesia’s minister of finance from 2013 to 2014. Jefrey Joe, co-founder and general partner at Alpha JWC Ventures, and Neneng Goenadi, Grab Indonesia country managing director, also took the stage for an ask-me-anything session.

Goenadi stated that GVV is a manifestation of her belief in the growth of local startups. She is confident that the startups can contribute to solving the challenges in their respective industries.

“This GVV program is also expected to help open up more opportunities for startups to develop their businesses in the long term while also creating a significant impact on their communities, the society at large, and the environment,” she said during the ceremony.

Neneng Goenadi (center), country managing director at Grab Indonesia, speaking with GVV alumni and guests at the program’s Batch 6 graduation ceremony in Jakarta / Photo credit: Grab

The merits of accelerator programs in the startup ecosystem have been widely acknowledged. Such an initiative not only gives startups access to necessary resources, potential investors, and partners, but it also creates a community where startups can support and learn from each other.

As part of GVV, the selected startups join a host of activities including:

• A pilot program that introduces the startups’ products or services into Grab Indonesia’s ecosystem (users, merchant partners, and driver partners)
• Mentorship and workshops that facilitate direct learning from various industry experts about relevant topics;
• Networking access that connects startups with the GVV alumni network and company leaders, such as Grab’s executives and strategic partners;
• Partnership opportunities with Grab;
• A pitching session that opens up the possibility of VC funding; and
• Brand awareness, which offers visibility in all online and offline activities with media partners. For example, the startups in this cohort participated in this year’s Tech in Asia Conference, which was attended by 3,761 visitors.

Joe of Alpha JWC Ventures underscores GVV’s role in unlocking the full potential of Indonesia’s digital economy by helping founders supercharge their startups’ growth. What also sets this program apart is how it allows startups to test their solutions in the Grab ecosystem.

“Alpha JWC is very passionate about doing more to help boost the digital economy in Indonesia. One way to do that is by supporting GVV, which is one of the best accelerator programs in the country,” he said.

This year’s GVV started on August 21 with a mentorship and workshop program. Several experts served as mentors, such as Edward Kilian, Blibli’s chief marketing officer; Nadine Kaunang, vice president of investment at Alpha JWC Ventures; and Monika Rudijono, managing director at Vidio. The speakers also shared their knowledge about branding, fundraising, and go-to-market strategies with the participants.

Donald Wono, co-founder and CTO of e-groceries platform Pasarnow, expressed how GVV Batch 6 has been immensely beneficial, especially the program’s mentorship sessions and wide network.

“One thing that is hard to find in Indonesia is a good mentor. Here, we had access and could collaborate with them,” he says.

Another standout feature of GVV Batch 6 was how it enabled the finalists to take part in this year’s Tech in Asia Conference. At the event, the startups delivered their pitches to esteemed guests and set up booths to exhibit their products to thousands of visitors.

BintanGo co-founder and CEO Jason Lee (right) speaking to guests after a pitching session at the Tech in Asia Conference 2023 / Photo credit: Grab

“Being part of GVV has been very helpful for us. We were able to participate in the Tech in Asia Conference, and GVV supported us by providing a booth. We made valuable connections there,” Oktorika Mandasari, co-founder and chief marketing officer of BintanGo, said at the event.

Rengkuh Banyu Mahandaru, co-founder and CEO of Plepah, also talked about GVV’s role in helping his startup expand its networks and explore new opportunities. Plepah, which was one of the finalists of the program’s 2022 cohort, produces eco-friendly food containers.

Aside from giving the Plepah brand broader exposure, being part of GVV also allow the startup to publicly discuss ESG issues, particularly the use of alternative, biodegradable packaging.

“During the pilot phase in Grab’s ecosystem, we went through several trial processes to look for market opportunities. These included collaborating with Grab’s merchant partners to develop our products in the market,” Mahandaru says.

This article was originally published on Tech in Asia Indonesia.