VIISA attracts many foreign startups

The Vietnam Innovative Startup Accelerator (VIISA) has selected 12 outstanding startup projects from 160 candidates for its investment. VIISA is an open ended fund working in partnership with major corporations FPT, Dragon Capital, and Hanwha Investment.

Yaroslav, Founder of DentalTap from Ukraine (the startup offers cloud-based software-as-a-service (SaaS) for dental practices), learnt about many countries such as China, Indonesia and Thailand. However, he found that there was no place where there were as many startup potentials as in Vietnam and they were suitable for their field.

“Vietnam is open, friendly and gets used to new things easily. Social networks and rapidly growing IT apps are a very favorable premise for start-ups. In addition, the increasing demand for health care in a developing country with high urbanization rates, and improvement of quality of life in Vietnam fuel start-ups that make lives better," said Yaroslav.

He said that VIISA has helped them so much with contact with hospitals and partners.

CID Auto CTO Miguel Alba said that they were attracted to not only the investment but also the support network and experience etc.

CTO of Xpath.co Kim Lam thought that the biggest challenge he faced when starting a business was that he did not know if he was doing the right thing. However, VIISA gave him a chance to try, go wrong and try again.

Each chosen startup will receive USD15,000 in cash and USD15,000 worth of training, technical resources, office accommodation and access to more than 100 world-class mentors and investors. Promising teams will also get up to USD200,000 in follow-on funding.

The first batch of VIISA graduated seven startups in April.

12 startups to receive the investment:

1. SAIGONEER (Vietnam): The startup provides local brands with a “rare, trustworthy” platform to share their narratives and services with “unique and highly desirable” audience.

2. CRICKETONE (Vietnam): The startup aims to “feed the world” with sustainable protein using proprietary IoT technology.

3. MARKETOI (Vietnam): An on-demand concierge delivery service that takes users from order to delivery.

4. CYFEER (Vietnam): The startup builds e-solutions for apartment and building management.

5. DENTAL TAP (Ukraine): The startup offers cloud-based software-as-a-service (SaaS) for dental practices.

6. AUTHENTIC GUARDS (Indonesia): The startup aims to protect brands against counterfeit products using proprietary technology.

7. MOJITOK (South Korea): The startup offers third-party smart AI that helps read emotions and converts text to stickers.

8. ELLA STUDY (Vietnam): An online platform connecting Vietnamese students with alumni for overseas universities placement consultations.

9. CID AUTO (South Korea): A video-first mobile car sales platform.

10. INTERVIEW.VN (Vietnam): An online platform to train jobseekers with professional development.

11. WESPORT (Vietnam): A platform that connects sports enthusiasts with sports facilities.

12. XPATH.CO (Vietnam): Tailored local experiences for discerning tourists.