Vietnam-focused Touchstone Partners has created a specialised incubation programme in Vietnam for high-potential innovators to further develop their original concepts.
TFP (Touchstone Fellowship Program) applications are accepted on a rolling basis. TFP corresponds with the VC firm’s areas of interest, which include fintech, real estate, healthcare, edutech, and technology that improves efficiency in important Vietnamese value chains including manufacturing and agriculture, according to a news release.
To launch founders’ ideas, Touchstone will invest between $50,000 and $100,000 in convertible notes with “clear, transparent, and founders-friendly” conditions.
There are no additional fees or expenses.
“Through the small cheques we provide to founders, they will be able to move along faster and deeper to prove their market fit and validate the business model. We saw how even a small amount of investment could help startups grow at least 3x,” said Touchstone’s Director of Entrepreneurs-in-Residence Bobby Liu.
B2B Marketplace for Construction. The first two businesses to get funds from the initiative are Debion and Autotable, a no-code automation SaaS.
Touchstone Partners was founded and headed by Khanh Tran and Tu Ngo in 2021 with the goal of catalysing Vietnam’s digital sector by providing US $1 million in initial investment to businesses.
The business put $1 million into the telemedicine platform Medigo last month, one of the first investments from its $50 million launch fund since April.