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.

🌐 WHAT – WHAT IS ENTREPREP INCUBATOR?
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?
This grant is for teams that have 2 VinUnians in the founding team.
* VinUnians: Students/Faculties of VinUni.
You will establish a startup team, utilize existing technologies to build a tangible product, and bring it to market.
The 11 cutting-edge technology projects are being researched and developed by leading experts at VinUni University. These technologies are not easily replicated and will provide a competitive advantage for startups. You can find more details about these 11 projects in the introductory article on the fanpage or in the 2024 Global Entreprep Incubator handbook.
– The program is completely free for VinUni startups (with at least 2 co-founding members who are VinUnians).
– 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.
The startups will need to pay an annual fee, and VinUni will invest in the businesses by contributing the technology itself. With this annual cost, the businesses will be exempt from fees for the first 4 years, and only from the 5th year onwards will the businesses need to start paying the fees.
A total of 5 scholarships will be awarded for the Global EntrePrep Incubator 2024.
Within the activities of the Incubator, the startups will be supported in connecting with various funds to have the opportunity to receive investment capital. In addition, VinUni has a Post-Incubator fund of up to $10K for one startup.
The teams will receive 1-on-1 support from the Entrepreneurs-in-Residence (EIRs) of Elab for the next 6 months to continue their acceleration and fundraising efforts. They will be connected with investment funds and industry-leading experts. Additionally, the startups will have the opportunity to receive a $10K post-incubator fund.

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

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ARIS

All-in-one AR platform & services allows businesses & brands effortlessly craft high-impact AR experiences with minimum resources.

NaviAI

AI virtual assistant for content creation, presentation and performances.

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Build AI Agents for Your Tasks with Custom Data to Get Things Done 10x Faster.

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