We discussed about how Grab Ventures intended to build a super app ecosystem in Southeast Asia, and was launching the 2nd batch of its accelerator programmes – Grab Ventures Velocity (GVV).
Today, the company revealed 10 companies that were selected for the programme, among which seven hail from Indonesia. There are two tracks in this programme: Track 1 – empower farmers & Track 2 – empower small businesses.The 10 companies, after a 16 week programme, will be able to pitch for further collaboration.
Here is the full list:
MyCash Online (MY)
Grab had made a commitment to the government of Indonesia to play a leading role in growing agritech ecosystem.
Rudiantara, Minister for Communications and Information Technology (MemKomInfo), described the situation of Indonesia becoming home to fastest growing startups as “amazing”. He emphasized his hope that through the programme, Indonesian startups will be able to compete at a global level and ‘bring recognition of Indonesia overseas’.
Sinar Mas Land also joined the GVV ecosystem as a partner, providing its BSD City as a venue for the events.
Interestingly, this batch will get more exposure than the first batch, which were exposed to the ecosystem through the Grab app. The 2nd batch will have access to not only the Grab app, but also GrabFood merchant base and Kudo’s agent network.
This approach is quite interesting, and we think if successful could be very strong. This will also further differentiate the super app ecosystem in Southeast Asia to that of China.
Momentum Works is of the opinion that now it is a more exciting time than ever for building tech in Indonesia – so many local pain points to resolve/opportunities to seize, politically the next 5 years have been mapped out and generally expected to be stable, and infrastructure and money are more ready than ever.
Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at [email protected].