Singapore firm grabs GVI Vietnam launch


Withers KhattarWong (WKW), the Singapore office of international law firm Withers, has advised multinational Grab with its launch of Grab Ventures Ignite (GVI), an accelerator programme for early-stage tech start-ups.

To support Vietnam’s goal to create 10 tech unicorns by 2030, Grab chose Vietnam to launch GVI, an early-stage 14-week start-up support programme that aims to encourage technology entrepreneurship and grow Vietnam’s start-up ecosystem.

The WKW team, led by Singapore-based corporate partner Leong Chuo Ming, and supported by associate Chow Su Rin, assisted Grab in drafting the strategic collaboration agreement with a leading venture capital firm. “This collaboration will undoubtedly benefit Vietnam’s start-up ecosystem, propelling the growth of many promising tech ventures,” said Leong.

Vietnam is the first country where Grab has introduced GVI. The pilot has focused on Singapore-based start-ups interested in expanding into Vietnam. Selected start-ups benefited from a host of capability development programmes, with professional training and 1:1 mentorship, exposure opportunities including fundraising, Grab-led immersion trips to Vietnam and Indonesia, and other in-kind benefits like Cloud credits of up to US$100,000.

Grab is a multinational ride-hailing company based in Singapore. The company also offers food delivery and digital payments services via a mobile app. It now operates in Singapore, Japan, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam. It is the region’s first “decacorn” (a start-up with a valuation of more than US$10 billion). WKW also advised Grab on its pilot venture, GrabCycle.