REACH OUT TO THE WORLD WITH GLOBAL ENTREPREP INCUBATOR 2024 - THE ORIGIN AND CREATION OF OUTSTANDING STARTUP SEEDS
“What Causes 90% of Businesses to Fail in Their First 1 – 2 Years of Startup?”
For a long time, entrepreneurship has not been a foreign concept to the majority of young Vietnamese students, with thousands of ideas and products being recognized through startup competitions every year. However, the success rate and ability to enter the market for these projects are only around 3-5%, due to key factors such as a lack of financial resources, unclear product development direction, lack of market understanding, and a lack of guidance from experienced individuals.
Understanding the difficulties and challenges faced by young entrepreneurs on their journey to the market, the EntrePrep Incubator 2024, a technology startup incubation program, was officially established with the mission of supporting and nurturing young talents with valuable resources from the diverse startup ecosystem of VinUniversity.
EntrePrep Incubator 2024 is an annual entrepreneurship incubation program by the Entrepreneurship Lab at VinUni University. Talented startup teams are provided with seed funding from the VinUni ecosystem and receive close support from mentors from Silicon Valley, as well as successful founders and entrepreneurs in the Vietnamese and Southeast Asian markets. The incubation program runs for 12 weeks and concludes with a Demo Day event.
💁 WHO – WHO IS SUITABLE FOR ENTREPREP INCUBATOR 2024?
Young individuals who have a passion for entrepreneurship or students studying at universities in Vietnam.
Those with strategic thinking and the ambition to transform simple ideas or unfinished projects into billion-dollar companies.
🕐 WHEN – PROGRAM TIMELINE:
– Application period: May 13th – June 15th
– Evaluation and selection: June 15th – June 25th
– Incubation period: June 25th – September (3 phases)
– Demo Day: Mid-October
🛤 The strategic roadmap simulates the process of building a product to provide young entrepreneurs with an overview:
♦ Phase 1: Idea Refinement
♦ Phase 2: Market Entry Preparation
♦ Phase 3: Demo Day
⁉️ WHY – WHY SHOULD YOUNG STARTUPS PARTICIPATE IN ENTREPREP INCUBATOR?
✅ Seed funding of $2000.
✅ Comprehensive training sessions by top experts in the field of entrepreneurship.
✅ Direct learning and networking opportunities with C-level executives and founders from large companies and organizations through professionally organized networking events.
✅ One-on-one support from mentors who are investors and successful startups, guiding you throughout the process and helping you solve issues such as market research and pitch deck development.
✅ Access to investors and funds for fundraising during Demo Day.
✅ Various support packages to optimize operational costs for startups.
Fill out the APPLICATION FORM to join the EntrePrep Incubator Cohort 4 RIGHT NOW: https://2ly.link/1xzoF
GLOBAL ENTREPREP INCUBATOR
The Incubator Programme includes more intense mentorship, tailored training, and connections to potential investors. Here, the choice of programs can have a profound impact on our startups’ growth. Each team with at least 2 VinUnian members can access a grant ranging from $2,000 to $10,000 per team.
Building and Testing
In the Incubation Phase, Entrepreneurship Lab focuses on building a strong foundation. Program orientation, workshops on building a minimum viable product (MVP), and refining product design equip participants with the tools needed for successful market entry. The challenge of conducting market research, identifying early customers, and collecting feedback is met head-on.
Scaling and Growth
Scaling a startup presents unique challenges. Entrepreneurship Lab addresses this by exploring growth strategies through fireside chats, networking sessions, and workshops on financing, fundraising, and investor relations.
Preparing for Market Entry
Market entry can be complex, and E-lab eases this transition by delving into strategies and legal considerations. Participants perfect investor pitches, ensuring they are well-prepared for Demo Day.
Recognizing that the entrepreneurial journey is ongoing, E-lab provides continuous support throughout the Incubation Phase. Tailored mentorship, networking opportunities, and preparation for Demo Day are integral components, ensuring that participants receive the guidance needed to navigate the challenges of entrepreneurship.
Global EntrePrep Incubator 2023 is an entrepreneurship incubation program organized by VinUni Entrepreneurship Lab (E-Lab), Next Challenge Foundation, and Reactor School, aiming to create a meaningful international playground and spread the entrepreneurial spirit to young startups.
For more information about our Global EntrePrep Incubator 2023: LINK TO NEWS & EVENT
Frequently Asked Questions
What are the requirements to receive the $2000 grant from the Global EntrePrep Incubator 2024?
* VinUnians: Students/Faculties of VinUni.
What specific activities will be involved in participating in 11 research projects?
What are these 11 research projects?
For participating in the program, do startups have to pay any fees?
– For startups outside of VinUni, the Incubator is offering two types of scholarships (without requiring any additional fees):
+ 100% scholarship (equivalent to $5,000 USD), which grants access to all program activities, including all online/offline lectures, workshops, mentoring, coaching, networking sessions, and the Demo Day.
+ 30% scholarship (equivalent to $1,500 USD), which grants access to all program activities, including all online/offline lectures, workshops, networking, the Demo Day, and mentoring by entrepreneur in resident of Entrepreneurship Lab.
* With these financial, expertise, and networking contributions, when the projects establish a company, VinUni will be granted a 2% equity share. In cases where the teams utilize VinUni’s technologies, a different equity percentage will be applied.
*Please refer to the details below.
How will startups that use VinUni's technologies have to pay for it after they establish their company?
What is the number of scholarships for the Global EntrePrep Incubator 2024?
In addition to the $2,000 grant within the program, do the startup teams have the opportunity to receive any other funding?
After the Incubator program, do the startup teams receive any other forms of support?
Venture Studio: Unleashing Entrepreneurial Potential
As students and innovators journey unfolds with Entrepreneurship Lab, consider it a stepping stone to a more personalised and hands-on experience—the Venture Studio.. This parallel route offers a unique space to amplify entrepreneurial pursuits, further fueled by innovation, mentorship, and tailored support. The move from the incubator to the studio marks a progressive shift, where ideas not only take root but reach new heights of transformative potential. Venture forth into this exciting chapter, where entrepreneurial aspirations find an even more fertile ground to flourish.
Entrepreneurial Excellence
Venture Studio stands as a testament to VinUniversity’s commitment to entrepreneurial excellence. This isn’t just about developing businesses; it’s about cultivating a mindset that embraces challenges, values innovation, and paves the way for a future where ideas shape the world.
Hands-On Learning
Scaling a startup presents unique challenges. Entrepreneurship Lab addresses this by exploring growth strategies through fireside chats, networking sessions, and workshops on financing, fundraising, and investor relations.
Ethos Fund Collaboration
Collaborating with Ethos Fund elevates the Venture Studio experience. In a groundbreaking move, Ethos Fund has pledged a substantial $2 million commitment to propel the Venture Studio initiative. This generous funding injection serves as a testament to Ethos Fund’s dedication to fostering innovation and propelling aspiring entrepreneurs toward success.
Field Trips, Networking Events, and Work Experiences
Real-world exposure is key to preparing students for entrepreneurial challenges. Field trips, networking events, and work experiences expose students to diverse entrepreneurial scenarios.
Pre-Accelerator Support
The journey doesn’t end with Demo Day. E-lab assists startups in applying for accelerators or securing continued work hours, providing essential support beyond the Incubation Phase.
Advanced training
Advanced training
Advanced training
Incubator Portfolio
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