Quang Trung Software City, International Accelerator, Inc., and MagRabbit Inc. have signed a memorandum of understanding for a programme to accelerate innovative start-ups in the US.

The scheme will mobilise funds for start-ups founded in Viet Nam by serving as an early-stage venture investment platform specialising in sourcing, educating and seeding, followed by acceleration in the US.

Quang Trung Software City (QTSC) will help identify start-ups for the International Accelerator Programme, collaborate with US-based International Accelerator (IA) to organise an entrepreneurship workshop for the start-ups, and work with them on upcoming projects.

US software development solutions provider MagRabbit will facilitate communication and discussion between and decision-making by QTSC, IA and start-ups, provide initial screening and guidance services for start-up applicants based on vetting criteria from IA, and advise qualified start-ups to apply to the acceleration programme.

IA will perform due diligence on the start-ups and select them for acceleration and mentor them.

The tie-up is expected to help identify Vietnamese start-ups in the IT sector and promote their success in the US market. — VNS