In the morning of June 15th 2018, Quang Trung Software City (QTSC), International Accelerator, Inc., (IA) and MagRabbit Inc. (MR) signed the Memorandum of Understanding (MOU) for the International Accelerator Program. The signing ceremony was conducted in the framework of the visit of Vietnam IT Delegation led by QTSC in the United States from June 11 to June 17, 2018.
Mr. Lam Nguyen Hai Long, CEO of QTSC with Mr. Angelos Angelou, Founder & CEO of IA and Mr. Thanh Hodinh, Founder & CEO of MagRabbit had simultaneously signed the MOU. The parties wished to collaborate in a program opening U.S. markets, U.S. funding and U.S. exit strategies for start-ups founded in Vietnam, by serving as an early-stage venture investment platform specializing in sourcing, educating and seeding, followed by a US-based acceleration of innovative start-ups from QTSC.
Remarkably, there were also the presence of Mr. Luong Quoc Huy, Consulate General of Vietnam in Houston as well as Vietnamese and US businesses attending.
According to the MOU, QTSC shall, on a best efforts basis, help identify Startups for approaching and participating in the International Accelerator Program; collaborate with IA to define an IA Entrepreneurship Workshop to further the education of the Startups as well as work in detail with Startups on upcoming projects and collaborative programs.
MagRabbit shall help facilitate communication, discussion, and decision-making between QTSC, IA, and Startup applicants. Provide initial screening and guidance services for Start-up applicants based on defined vetting criteria from IA and advise qualified Startups to apply to the IA acceleration program.
Towards IA, they committed to define the vetting criteria for the selection of participating Startups, perform due diligence on applicant companies and ultimately select Startups for Acceleration at IA if they meet criteria. On their best effort basis, they also provide mentoring services to Startups of QTSC, focusing on the Start-up company needs.
With the inherent strengths of the parties, this cooperation would help to identify and select Vietnamese Startups related to the IT sector into the IA and promote their success into the US market.
Mr. Lam Nguyen Hai Long (right) – CEO of QTSC, Mr. Angelos Angelou (middle) – Founder and CEO of IA and Mr. Thanh Hodinh (left) – Founder and CEO of MagRabbit signed the MOU for the International Accelerator Program. Mr. Luong Quoc Huy (behind, middle) – Consulate General of Vietnam in Houston witnessed the signing ceremony.
The delegation took photos in Austin, USA
During the working session in Austin, the Vietnamese delegation also had the opportunity to meet with The Mayor of Austin City, Mr. Steve Adler, to gain an understanding of US market, the current activities of technology companies in Austin, as well as support policies of city for foreign startups in Austin.
Mr. Lam Nguyen Hai Long, Representatives of the delegation presented the souvenir from Vietnam to the Mayor of Austin.
In addition, the delegation also visited technology centers, labs, co-working space in Austin to update the current technology improvements in the United States.
Visiting Silicon Labs and Capital Factory.
For further information, please kindly contact:
Mr. Phan Phuong Tung, Deputy Manager of Sales Department, QTSC
HP: (+84) 8888 776590
About Quang Trung Software City
Quang Trung Software City, (“QTSC”) is the largest concentrated software park in Vietnam and is the first zone to be officially received the Certification of the first concentrated software park by Ministry of Information and Communication. After more than 17 years of establishment and development, QTSC has truly become a destination for investment attraction, looking for cooperation opportunities on IT sector with more than 150 IT enterprises operating and about 20,755 people are studying and working.
About International Accelerator, Inc.
International Accelerator, Inc., (“IA”) is a specialized corporation in operating a program focused on assisting non-US citizen entrepreneurs set up companies in the United State.
About MagRabbit, Inc.
MagRabbit, Inc., (“MR”) an Austin-based software development and consulting firm also an experienced software development and consulting organization in the United State.