The cooperation will accelerate the necessary support as well as tech products and services for the startup ecosystem in Vietnam, helping them increase business capacity through the application of technology based on Microsoft’s comprehensive platform, Microsoft Vietnam said in a statement, dealstreetasia.com reports.
Microsoft will work along with the VSV in its training programmes, providing specialists and entrepreneurship consultants. The duo will also shortlist the potential projects/teams to incubate and support in terms of technology, finance and commercialisation. VSV will play an important role in acceleration and venture funding, while Microsoft will act as a technology advisor and enabler of commercialisation.
Microsoft said it hoped to duplicate this support across the country. Hanoi-based VSV was initiated by the Vietnamese Ministry of Science and Technology in 2013 to commercialise technology, by bringing best practices from the Silicon Valley to train, accelerate and invest in Vietnamese startup companies.
VSV Accelerator, launched in 2014, has incubated over 40 startups and enabled venture capital funding in deals including food exploration app Lozi, SME utilities platform TechElite, P2P lending startup LoanVi and video-based education site Schoolbus. Through four-month boot camps, VSV invests at least USD 10,000 in each startup typically for a 10% stake.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now