Microsoft and Southeast Asian VC collaborate to launch Vietnam start-up accelerator

The 120-day programme will give participating start-ups access to Microsoft's BizSpark and BizSpark Plus packages, reports Tech in Asia

Vietnam’s start-up ecosystem is making strides toward maturity. From a growing e-commerce sector to the government itself taking an interest in entrepreneurship, it all points toward a growing opportunity for founders and investors alike.

Now a new start-up accelerator is about to open its doors to early-stage start-ups in the country. The CLAS-Expara Vietnam accelerator is a collaboration between Vietnam’s Customer Loyalty and Acquisition Services Company (which was born in Microsoft’s Innovation Center), Singapore-based venture capital and entrepreneurship consultancy firm Expara, and Microsoft Vietnam.
 

The 120-day programme will give participating start-ups access to Microsoft’s BizSpark and BizSpark Plus packages. Microsoft will also work with the start-ups to develop go-to-market plans for ideas that the company can bring to its customers.
 

CLAS will provide the facilities and manage the day-to-day operations of the accelerator. Expara will provide workshops on entrepreneurship, business and financial planning, competitive strategy, fundraising, and pitching to investors.
 

Expara plans to invest $10,000 into promising start-ups at the accelerator programme’s mid-point review. After Demo Day, it will invest up to $500,000 in successful graduates.
 

The investment will come from the Expara Ventures 3 fund, which is aimed at investments in Southeast Asia. With this fund, Expara wants to be lead investor in seed-stage and series A-stage tech companies, including interactive digital media companies. For its investment, Expara requires a seat in its portfolio companies’ board of directors.
 

The deadline for start-ups to apply to the new accelerator’s first batch is November 23, 2015.

This is an excerpt from Tech in Asia. You can read the full article here.