Together with BRI Ventures, Grab announced the launch of Grab Ventures Velocity (GVV) Batch 4 x Sembrani Wira, to support the development of startups in Indonesia.
Grab and BRI Ventures have announced the launch of Grab Ventures Velocity (GVV) Batch 4 x Sembrani Wira, a project that brings together the Grab and BRI Ventures accelerator programs to support startup development in Indonesia. With the new theme “Scaling Up Together: Empowering Startup, Supporting Microentrepreneurs”, this joint accelerator program aims to find and guide post-seed startups in Indonesia whose products and services are focused on the needs of merchants and micro entrepreneurs (MSMEs).
This accelerator program will be held for 12-16 weeks, and selected local startups will receive a series of workshops that will be delivered by industry experts, as well as mentoring and also the opportunity to test their products on the Grab platform for 8 weeks. Selected startups will also have the opportunity to receive funding from BRI Ventures and its network of investors.
It is known that this project aims to grow Indonesia’s startup ecosystem and accelerate the development of solutions to help MSMEs thrive in the digital world. Startups that offer Point of Sale (POS) Customer Relationship Management, e-Commerce enablement, Software as a Service (SaaS) and other services tailored to the needs of MSMEs can join this accelerator program.
“The startup ecosystem in Indonesia is very promising and on the other hand, we are amazed by the ability of Indonesian MSMEs to adapt and survive in the midst of a pandemic. GVV Batch 4 x Sembrani Wira presents the best efforts from Grab and BRI Ventures to help advance Indonesia’s digital economy. We choose to focus on startups that provide services for MSMEs, not only because we believe the market opportunity for them is huge, but also because there is a need to develop more solutions according to MSME needs so that they can also thrive in the midst of the digital economy. MSMEs are the backbone of Indonesia’s economy and if we can further help them thrive in the digital age, they will play an important role in the nation’s economic recovery. We are very honored to be partnering with BRI Ventures in this endeavor and can’t wait to meet the selected startups this year,” said Country Managing Director, Grab Indonesia, Neneng Goenadi.
Registration for the GVV Batch 4 x Sembrani Wira program has been opened from June 8 and will last until June 27, 2021 via grab.com/blog/GVVBatch4xSembraniWira. Participants can complete the registration form and will be screened by the Grab and BRI Ventures teams.
The announcement of the selected startups will be made in July 2021, and they will embark on a four-month journey of training, workshops, and product development. Grab Ventures Velocity has been running since 2018 and 20 startups have graduated from this program. Some of them, such as Sejasa.com and Sayurbox. There is also Qoala that can be found on the GrabKios service, which offers micro-insurance products.
Grab and BRI Ventures today also confirmed that BRI Ventures is one of Grab’s strategic investors. BRI Ventures is a venture capital company owned by Bank BRI, the world’s largest microfinance institution and a leading digital bank in Indonesia.
In May 2020, Grab and Bank BRI launched a low-interest loan facility for GrabFood merchants and GrabKios agents, as well as Grab driver-partners. Driver partners get access to a BRI Bank loan of up to Rp5 million (USD345) and also benefit from personal accident insurance.
Grab and Bank BRI also distributed Working Capital Loans for People’s Business Credit (KUR) of up to IDR 50 million (USD 3,447) with 6% interest to GrabFood merchants and GrabKios agents. The KUR loan is part of the Indonesian government’s National Economic Recovery Program (PEN) to ensure business continuity and support employment during the pandemic, while empowering the majority of MSMEs who do not have bank accounts.