On 7th Oct 2024, I was in Saigon for the Google Accelerator mentoring kick-off for 19 startups in the Google Accelerator program.
The Google for Startups Accelerator: Southeast Asia is a three-month, equity-free program focused on supporting AI startups in Vietnam. The program provides access to Google experts, mentors, resources, and infrastructure to help startups scale their businesses.
I had the opportunity to work with 6 startups out of a cohort of 19. The event was well-organized, and I participated as part of the mentor group. It was a privilege to engage with these startups and discuss their business strategies.
One startup stood out for its deep understanding of its target market and competitive landscape, backed by a solid Go-to-Market Strategy and well-defined Customer Journey. Their focus on risk management is critical for their scalability and sustainability, though they need to address team dynamics, including the CEO’s role, to maximize their potential.
Another startup demonstrated strengths in their Go-to-Market Strategy and marketing approach but needs to improve market differentiation and broaden their Strategic Customer Insights to avoid the risk associated with their business.
A third startup displayed a keen understanding of their niche market, competitive landscape, and customer needs, achieving positive results across all rubric categories. Their well-defined product and targeted marketing strategies position them well for future growth.
One startup faced challenges due to the absence of its founders during the mentoring session, requiring significant focus on refining their Go-to-Market Strategy and a thorough business assessment.
Another startup struggled with an unclear pitch that emphasized hardware technology over benefits, revealing weaknesses in Market Positioning and Go-to-Market Strategy. They need to better articulate their Unique Selling Proposition (USP) and clearly highlight customer benefits.
Finally, a startup showed promise with a good Go-to-Market Strategy and marketing approach but lacked a strong market differentiation strategy. Improving user experience and refining their value proposition for investors will be key to their success.
For the mentoring. I use this following to help me guide my conversation (structure not edge in stone).
The GFSA program provides a robust framework for mentorship, equipping startups with the tools and knowledge to thrive. Congratulations to all the participating startups. I am excited to see what they achieve in the future!
About the author
Stephen Chan is the founder of ASIA Technology Ventures. As a creative and entrepreneurial thinker with deep knowledge in both business and technology, he has accomplished more than 2 decades of high-growth businesses, developed revolutionary Go-To-Market strategies, led & built teams across Asia Pacific. He also has strong understanding of technology like SaaS/Cloud infrastructure, mobile apps, developer tools, blockchain, artificial intelligence, etc. Asia Technology Ventures was founded to help Asia's businesses transform, scale and compete beyond their comfort zone.
This is driven by his personal belief that "Success is a journey, not a destination", in-line with his pursuit of helping others as the foundation for true, happy, and meaningful living.
