A month after announcing its oversubscribed final close, 500 Startups Vietnam today has announced to bring 500 Startups’ Silicon Valley accelerator curriculum to Vietnam in 2019 in partnership with GS Shop, a Korean multimedia retailer.
The Saola Accelerator, named after the rare Vietnamese deer also known as the “Asian unicorn”, aims to support three batches of Vietnam-connected startups with US$100,000 investment as well as programmatic support. In addition, each participating company will receive access to more than US$500,000 worth of free perks and discounts from twenty 500 Startups partners including Amazon Web Services, Google, and Microsoft.
500 Startups’ flagship accelerator has been named a Top 3 accelerator in the U.S. by notable publications including Forbes and Entrepreneur. 500 Startups has also been running growth programs in Latin America, Europe, the Middle East, and Asia. The Saola Accelerator is 500’s latest step in its mission to back talented entrepreneurs anywhere, help them build companies at scale, and develop thriving startup ecosystems around the world.
Marvin Liao, Partner at 500 Startups and head of its flagship accelerator program in San Francisco, said, “We’ve learned a lot from working with 1,000 companies in more than 40 growth program batches around the world. We’re excited to bring that experience to Vietnam.”
In addition to capital, the Saola Accelerator will offer enhanced programming including 500’s signature Growth Hell Week plus hands-on support for growth. The program will conclude with a Demo Day, where the companies will share about their products and progress to an invite-only audience of regional venture investors.
The Saola Accelerator will be operated in partnership with GS Shop, Korea’s foremost multimedia retailer with an internationally active corporate venture capital team. GS Shop and 500 Startups have had a close relationship for years, with investments and collaborations spanning from Korea to the U.S. and the Middle East. GS Shop plans to match 500 Startups Vietnam’s investment in select batch companies, bringing the potential investment per company to up to US$200,000. GS Shop also plans to send two representatives to attend the program.
“We believe Vietnam’s existing incubators and accelerators have played an important role in nurturing startups in their earliest stages. Our program is aimed at companies ready to break out and become Asian unicorns – saolas,” Eddie Thai, a lead partner of 500 Startups Vietnam, explained.
Application form can be found at: http://bit.ly/500saola
Interested startups can apply to the program if they meet the following 3 criteria:
- Tech or tech-enabled
- Vietnam-connected: serving the Vietnam market, having a Vietnamese co-founder, and/or having a meaningful portion of the team in Vietnam
- Have meaningful traction
The Early Bird application deadline is January 2, 2019, and regular deadline is January 20, 2019.
About 500 Startups Vietnam
500 Startups Vietnam is a US$14 million fund investing in promising Vietnam-connected startups. We provide capital, mentorship, and connections to both global and regional startups. Our startups have gone on to raise capital from such renowned investors as Sequoia, Korea Investment Partners, Monks Hill Ventures, and others in Asia, the U.S., and Europe.
About GS Shop
GS Home Shopping (“GS Shop”, KOSDAQ:028150) is Korea’s foremost multimedia retailer as well as a global leader in TV home shopping. “Powered by data and human insights, GS SHOP inspires you to design every moment of life” has been the corporate vision that GS Shop strives to fulfill by working tirelessly to deliver the highest value to customers and to create a new quality of life. This vision is the guiding light that has fueled our growth to the very apex of Korea’s multimedia retail industry.
More information can be found on the website: https://500startups.com.vn