Singapore-based ride and mobile services provider Grab has joined forces with government agency Infocomm Media Development Authority (IMDA) for a 14-week accelerator in its home market, Singapore Business Review has reported.
Grab Ventures Ignite (GVI) will onboard two Singapore-based startups aiming to enter the Vietnamese market, where Grab runs an accelerator under the same name.
The initiatives will run synchronously to facilitate knowledge exchange between participants and provide insights into Vietnam’s culture and business context. Resources on offer include co-working space and up to $100,000 in credits for cloud computing services.
Entries for GVI’s Singapore leg will open on April 10 for startups with an existing presence in the country. Three additional entrants will then be selected to undergo a three-day accelerator bootcamp.
GVI’s partners include e-commerce firm Amazon’s cloud computing subsidiary, Amazon Web Services, in addition to Vietnam’s National Innovation Center, venture capital firm Gobi Partners and coworking space provider Toong.