Malaysia's technology accelerator and early stage investor 1337 Ventures has brought its pre-accelerator program Alpha Startups to Vietnam as part of its ongoing expansion in Southeast Asia, news website Deal Street Asia reported on Wednesday.
According to the initial plans, three local startups will be recruited through the program to receive financial and technical support from 1337 Ventures and its partners.
The first boot camp is set to be organized in Ho Chi Minh City on May 16, the second one in Hanoi in October, the website reported.
In Vietnam, 1337 Ventures will partner with Ho Chi Minh City's co-working space Dreamplex and Mekong Business Initiative, an advisory and advocacy facility promoting private sector development of the Asian Development Bank, it said.
Bikesh Lakhmichand, CEO and founder of 1337 Ventures, was quoted as saying in a statement that Vietnam's startup space has become ripe with local government's recent initiatives to build a sustainable and advanced ecosystem.
The Malaysian accelerator announced its plan for Vietnam less than two months after the launch of Alpha Startups in Indonesia. It has made pre-seed funding in 29 startups in Malaysia and another six in the Philippines and Indonesia.