REMAKE CITY PROGRAM DEMO EVENT: TOP 3 OF THE PORTFOLIO PITCHING FOR FOLLOW UP FUNDING UP-TO USD 150,000
Hanoi, March 9, 2018 — Remake City Program — a joint social impact incubation program held it Demo event to introduce their 3 incubatees for the first Batch. The program was co-hosted by HATCH! VENTURES in Viet Nam and Crevisse Consortium, including Merry Year Social Company (MYSC), Crevisse Partners, sponsored by KOICA Headquarter, in Seoul, South Korea.
Remake City Program is a joint program to incubate startups with sustainable and innovative solutions for tangible problems in major cities in Vietnam, besides Seoul (South Korea) and Jakarta (Indonesia). In 2016, the aggregated revenue of the portfolio companies is USD 15 million — with 30% penetrating the global market, and 60% achieving the follow-on investment.
The Goal of the Incubation Program is to transform startup innovations into viable, investible commercial businesses, and expand the impact to the society to achieve the Sustainable Development Goals (SDGs).
Under the Social Impact Incubation program, companies selected received business development consultancy and trainings provided by HATCH! VENTURES and its partners, including mentors from UNDP Viet Nam, National Office of Intellectual Property of Viet Nam, Patamar Capital, Lotus Fund, CSIP, Viet Nam Mentors Initiative, Eurocham, Nielsen, Mazars, CMC Corporation, Draco Logistics, IP Max, SwissEP.
In addition, they also received a total of USD 45,000 seed funding at the beginning. In the Demo event, they introduced their business and achievements throughout the incubation program, and based on the presentation, they will get follow-on funding (up-to 150,000 USD) and investment opportunity for next 2 years.
They are:
- Imagtor (Hanoi): providing video and photography editing service with majority of the staff are People with Disabilities (PwDs). The company started to generate profit after 4 months of operation with 100% customers from oversea, and a monthly sale growth is 36%;
2. 1516 Green Design (Hanoi): providing low-cost systems of wind turbines and solar panels to generate electricity for the poor in remote areas. There are almost 100 wind turbines and solar systems installed within 2017 for poor households in the northern area of Vietnam (Hanoi, Lao Cai, Ha Giang, Nghe An, etc.);
3. Healthy Farm (Danang): aiming to improve the entire clean food value chain through a multi-level approach which includes: increasing the general supply of clean food; enabling a fair income for farmers with affordable prices for consumers and connecting the two through monthly Farmer’s market events and an online platform to increase market access and reduce spoilage. After a year of operation, they created a community of 3,000 members with 8 Farmers’ market event supporting 20 farms.
In the Demo event, besides Business Pitch and Demo of the Portfolio, there was a Firechat with leaders of social impact organization or supporting organization about develop a sustainable social impact business in Viet Nam, moderated by Mr. Dat Pham, Founder & CEO, HATCH! VENTURES. The panelists included Ms. Fenghua, Regional Public Engagement Officer, U.S. Embassy & Consulate in Viet Nam, Mr. Jimmy Pham, Founder, KOTO; Ms. Thanh Hai, Incubation Program Manager, CSIP.
Remake City Incubation Program will open its next Batch recruitment by May 2018, with total seed funding of USD 45,000 in total and opportunity to receive follow up funding up-to 150,000 USD.
For further information, please contact:
Ms. Vu Anh Ngoc, Co-founder & Portfolio Manager, HATCH! VENTURES
ngoc@hatch.vn | 01228 38 39 35
