Grab, BRI Ventures team up to launch startup accelerator in Indonesia

Southeast Asian super app Grab and BRI Ventures, the corporate venture arm of state-owned Bank Rakyat Indonesia, announced the launch of Grab Ventures Velocity (GVV) Batch 4 x Sembrani Wira, a project aims to support startup development in the country.

Photo credit: Grab

The accelerator program will identify and develop post-seed startups in Indonesia that offer products and services aimed at merchants and micro-entrepreneurs.

Founded in 2018, Grab Ventures Velocity has seen 20 startups from countries in Southeast Asia graduate from its accelerator. This includes Indonesian startups such as Sayurbox, Tanihub, and Qoala, which are currently working with Grab.

Sembrani Wira is an accelerator by BRI Ventures, which facilitates the development of digital startups in Indonesia. For its first batch in 2021, Sembrani Wira had fostered eight startups.

The joint project has a pilot program that gives startups access to Grab’s customer and user base, which includes merchant and driver partners. Participants will also have mentoring sessions with experts from different fields.

Startups in the accelerator program can also connect with founders, alumni members, and partners of Grab and BRI Ventures. In addition, participants can land a potential partnership opportunity with Grab and secure funding from BRI Ventures.

See also: Will the real ‘Silicon Valley of Indonesia’ please stand up?

Program applicants must be backed by investors and have a business model capable of providing services for microbusinesses as well as small and medium-sized enterprises.