Grab invites Thai startups to join
- Win a chance to access to Grab’s vast customer base, mentorship and technology assets which would allow post–seed startups to test and scale their services via Grab’s ecosystem.
- Organized under the theme ‘Empowering Micro–Entrepreneurs in Southeast Asia’, this second batch of Grab Ventures Velocity is opening applications for 2 program tracks; ‘Empower Farmers’ and ‘Empower Small Businesses’
- Application opens now until May 15th, 2019.
Bangkok, April 26th, 2019 – Grab Holdings Inc (“Grab”) announced today it is inviting applications from startups across Thailand to be part of the second intake of Grab Ventures Velocity (GVV), Grab’s flagship scale-up program for post-seed startups.
Launched in July 2018, Grab Ventures is Grab’s venture building and venture investments arm. Through GVV, Grab Ventures offers mentorship and access to Grab’s vast customer base and technology assets for startups to test and scale their services via Grab’s ecosystem.
Following the success of its first batch of that graduated from the GVV program in January, application for the second intake open now until May 15th, 2019. Currently, Thailand has around 1,000 local startups and the country expects to have 10,000 startups by 2037. With GVV, Grab aims to take part in enhancing Thai startups incubation ecosystem, connecting them to strategic partners and investors and forging deals or business matching between Thai startups and Grab. This aligns with the government’s goal to create a digital hub in Thailand.
The theme for this second batch, which runs from June to August 2019, is Empowering Micro–Entrepreneurs in Southeast Asia. It is opening applications for 2 program tracks. The first track is Empower Farmers, which includes innovative solutions that empower farmers by helping them bring affordable, high-quality fresh groceries to customers across Southeast Asia.
The Empower Farmers track will select 3-5 startups from Southeast Asia that are disrupting the traditional fresh food supply chain, which includes meats, fruits and vegetables. Startups supplying fresh groceries to SMEs (restaurants, grocery stores) or end-consumers are welcome to apply.
The second track, Empower Small Businesses, strives to discover startups that are pioneering innovative solutions to empower small merchants by lowering their costs, simplifying their operations, or increasing their income. Startups in this track will pilot their solutions with Kudo’s agent network in Indonesia.
Participating startups for both tracks will have the opportunity to pilot their solutions within Grab’s ecosystem. In addition, startups will also get access to Grab’s internal and external network of C-level advisors and experts. On the tech front, these startups will leverage GrabPlatform resources, such as Grab’s cloud APIs, and Kudo resources to accelerate their product development.
Tarin Thaniyavarn, Country Head of Grab Thailand, said “The Thai startup scene is growing at an interesting pace, particularly the AgTech space. Grab Ventures Velocity (GVV) program is a great opportunity for Thai startups to scale and test their solutions through the Grab ecosystem.
By piloting these innovative solutions in our comprehensive and interconnected ecosystem of everyday services ranging from transportation, food delivery, express delivery and financial services, we believe that this will not only allow startups to grow their businesses but also benefit users and micro-entrepreneurs alike. Our ultimate goal is to improve the livelihoods of people in Thailand by enabling them with the technologies that can drive businesses, create career opportunities as well as increase income and improve their quality of life.”
Chris Yeo, Head of Grab Ventures, remarked, “With the first intake of startups last year, we tested several new use cases within Grab app. Now in Batch 2, we are looking for startups that Empower Micro-Entrepreneurs through their unique solutions. These micro-entrepreneurs could be farmers or the numerous mom and pop shops that form the backbone of SEA’s economy. We recognize the challenges that startups in this space are facing. Scaling up the supply side, demand side, and platform operations simultaneously is both a time consuming and an expensive problem to solve. Through GVV, we will help these startups scale rapidly by providing access to Grab’s vast user base and exclusive regional assets. In addition, startups in our Empower Small Businesses track will have unique access to Kudo’s unparalleled network of agents”.
Leading government agencies in the ecosystem- IMDA, ESG, EDB and EDBI in Singapore, MENKOMINFO and BEKRAF in Indonesia- are partnering with GVV.
Applications are open for startups and will close on May 15th, 2019. Interested startups can apply online at ventures.grab.com/gvv.
Grab is the leading super app in Southeast Asia, providing everyday services that matter most to consumers. Today, the Grab app has been downloaded onto over 144 million mobile devices, giving users access to over 9 million drivers, merchants and agents. Grab has the region’s largest land transportation fleet and has completed over 3 billion rides since its founding in 2012. Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services, across 336 cities in eight countries.