Grab Ventures Velocity Opens Registration to Support Indonesian Startups

To develop digital talent, the Indonesian government is working with Grab to reopen registration for the third generation of Grab Ventures Velocity (GVV).

TaniHub and Qoala, as 2018 GVV alumni who are examples of the success of Indonesian startups, are also present again at GVV third generation. This time, the GVV carries the theme “Empowering Micro-Entrepreneurs” with two different channels.

The first path is Restaurant Value Add Service which aims to embrace startups as a digital solution for SME owners in the restaurant sector to grow their business, while the second path is B2B Logistics. It targets startups to be able to bring digital disruption in the logistics industry with warehousing and trucking space innovations.

Neneng Goenadi, as Managing Director of Grab Indonesia, said that entering the 6th year made him understand the challenges and know the needs that need to be faced by startup companies in the country.

Grab Ventures Velocity Can Be the Right Step for Startup Growth in Indonesia

“The Grab Ventures Velocity program is certainly the right step for the growth of domestic startups, considering that increasing digital talent in Indonesia is a key,” said Minister of Communication and Information, Johnny G Plate, on Tuesday (3/3/2020), in Jakarta.

Also, the government said SMEs supported through various training and programs were a form of preparatory effort as the backbone of economic growth in the country.

“We hope that SMEs can develop and expand their business through Grab Ventures Velocity, I look forward to potential startups that can become digital solutions for SMEs,” said Teten Masduki, Minister of Cooperatives and Small and Medium Enterprises.

“So that later it can experience business growth by reducing costs and launching operations.” This third-generation GVV is also now partnering with banks from the largest SOEs, namely Bank Rakyat Indonesia (BRI) to support the growth of startup ecosystems in Indonesia.

Provide Funding Program Phase 3, Grab Aims Culinary & Logistics Startup

Grab is holding a funding program, Grab Venture Velocity (GVV), batch III this year. The Singaporean Decacorn is eyeing culinary startups and logistics this time. The on-demand service provider company has held GVV twice since 2018. 10 startups in Southeast Asia participated in the program.

Six of them came from Indonesia, namely Eragano, Going on the Pilgrimage, Porter, Sayurbox, Tanihub, Tamasia, and Qoala.

This year, Grab is not targeting the number of startups participating. However, Managing Director of Grab Indonesia Neneng Goenadi said, this time the GVV is targeting small restaurants and logistical startups because they are considered potential.

“We see great potential, there are many food stall entrepreneurs. Now again the trend, they (restaurants) help the digital economy. Then, the logistics sector becomes very important in Indonesia,” Neneng said in Jakarta, Tuesday (3/2).

GVV was Successfully Empowering 117 thousand SMEs

Grab also poured an investment of Rp 3 trillion or US$ 250 million to hold a GVV since 2018. Neneng claimed, the previous GVV program succeeded in empowering 117 thousand micro-entrepreneurs for two years. Startups that pass have the opportunity to take part in a service pilot project on the Grab platform. “They can maximize our customers. Because the market base is huge,” Neneng said.

From the two previous batches, 10 startups have tried the market through the Grab platform. The Sayurbox startup, for example, is included in the Grab app widget feature. “Consumers can buy Sayurbox vegetables in Grab,” Neneng said.

The development of such an ecosystem is very important to reach a wider market share. “With collaboration, the faster and bigger can be together,” he said. Startup companies that successfully follow the GVV will also receive business-related guidance from Grab, practitioners to investors.

The hope is that the startup results of GVV acceleration can become the new unicorn of the country. Registration for GVV batch III has been opened and will be closed on March 31. Last year, at least 200 startups registered for GVV.