From Vietnam to the World: InnoLab Asia's Vision for Connecting Local Startups to Global Markets

InnoLab Asia, a catalyst for Asian innovation, bridges the gap between startups, corporations, and investors. Their mission? To unlock Asia's innovation potential. They achieve this through tailored intrapreneurship programs, a startup funding platform called CrowdPitch, and technical expertise. As a result, InnoLab Asia fosters a thriving ecosystem, empowering businesses and propelling successful startups across the region. With that, why don’t you join me in learning more about InnoLab Asia with its Senior Partner, Anirban Roy. 

Could you tell us more about yourself and how you ended up being the Senior Partner of InnoLab Asia?

I am an industry veteran in the banking and technology industry. I am a top performing and internationally experienced 'C' level IT Executive with 30+ years' experience in Technology, 20 years of which were spent in deploying large scale digital applications globally across a variety of industries, including Financial Services, Healthcare, Travel, Manufacturing, Automotive and more. I started as a software developer and then very quickly rose through the ranks and became the head of Digital Technology in Citibank, Asia Pacific in the late 90’s. I then went to the United States and set up the Global Technology Development Center. I then came to Vietnam in 2017 to set up the first digital bank in Vietnam. I launched three digital banks in Vietnam: the first one is named YOLO, the second one is Übank, and the third is LeoBank.  While working on LeoBank as part of my role as a deputy CEO of OCB Orient Commercial Bank, I had the responsibility for not only technology and digital business, but also digital transformation. As part of the digital transformation role, I created something called Innovation Lab. In setting up that innovation Lab, I wanted to have a local partner in Vietnam who was connected with the ecosystem and could help me set it up. That's how I came in contact with InnoLab Asia, Mr. Cong-Thang Huynh. I was very interested in the partnership proposal. They have helped me a lot to connect me to the local ecosystem when I was at Orient Commercial Bank. Once I finished my stint at Orient Commercial Bank, I wanted to get out of the corporate career and give back to Vietnam. I decided to join InnoLab Asia as a senior partner and help them grow two particular aspects: one is the incubation of fintech since I had expertise in banking. There are a lot of fintech startups in Vietnam, so I offered Mr. Thang my service for mentoring fintech, understanding the business model, guiding them on the go-to market strategy, and technology. Second is my expertise in AI. I'm also creating an AI consulting practice in InnoLab. 

What is InnoLab Asia and what makes it unique from its other competitors? 

InnoLab Asia is an innovation catalyst organization that brings together public and private stakeholders to foster a supportive ecosystem for both domestic and foreign partners. It promotes stakeholders within the open innovation ecosystem. Innolab builds trust, matches needs, and ensures a win-win cooperation between startups and corporates through innovative and tailored solutions, tech services, and Crowdpitch. Additionally, InnoLab also receives financial and legal support from governments of non-governmental organizations to help incentivize startups and corporations. 

Can you describe the different types of programs and services offered by InnoLab Asia? How do they cater to diverse needs within the innovation ecosystem?

First we have the Corporate Innovation Advisory. Here, we have the Vietnam Innovation Summit (VIS), an annual event initiated by InnoLab Asia and in partnership with the Department of Science and Technology. We aim to bring the experts, investors, corporates, startups and mentors together, to discuss and generate ideas to develop an innovative society and ecosystem together. VIS 2023 saw a number of over 1000 attendees from more than 20 countries. VIS 2024 will take place on 15-16 Nov, 2024. We also have the Internal Incubation Program 2020 for PNJ, a leading jewelry manufacturer and retailer in Vietnam and the U-Lead Development Program 2022 for Sanofi, a French multinational pharmaceutical and healthcare company established in 1973. 

Second we have Innovation Capacity Building. Here, we have the Impact Entrepreneurship Bootcamp 2023, a 6-Month comprehensive program for young adults (aged 18-25) interested in becoming social entrepreneurs. Collaborated with the educational organization, Lead The Change, the program provided workshops, and hands-on projects, to help participants develop entrepreneurial skills to create impactful businesses that solve real-world challenges. We also have other programs such as the Asean Corporate Innovation Summit 2019, Life-Long Learning & Innovation Tools for Unilever Vietnam, Applying Design Thinking Workshop For HCMC Department Of Science and Technology, Policy Design for the People Committee Of Dong Thap among others. 

Third we have Market expansion. Here, we have DEX CONNEX 2023 which supports Malaysian tech companies that are seeking to enter the Vietnamese market, the Global Market Entry Program (GMEP) 2023, partnered with Korean Institute of Startup and Entrepreneurship Development (KISED), Smart City Association, and The Invention Lab to support 10 Korean tech startups entry to the market. We also have some other programs for market entry for startups in Malaysia for Malaysian Business Angel Network and RISING X Demo Day Startup Runway for The Invention Lab. 

Fourth we have Crowdpitch. CrowdPitch Vietnam is an initiative that aims to support very early-stage startups in Vietnam since 2015, to pitch their ideas, gain exposure, build and engage in an active community and learn from the best mentors and entrepreneurs. 

Fifth we have tech services. Here we have digital transformation, consulting work, professional services, product solutions, and specialized services.

How do you measure the success and impact of your initiatives? Can you share some success stories of startups or individuals who have benefited from InnoLab Asia?

InnoLab Asia promotes Stakeholders Within The Open Innovation Ecosystem, throughout its operation period, InnoLab Asia has achieved remarkable success:

◦ 500+ startups from Korea, Japan, Thailand and Malaysia were supported in InnoLab Asia’s acceleration and market expansion programs. InnoLab Asia plays an instrumental role in paving the way for foreign startups, especially tech startups, that wish to enter and build meaningful partnerships with local startups, investors and enterprises in Vietnam. 

◦ 1000+ participants in our internal capabilities building programs. InnoLab Asia provides a full range of tailor-made and proven intrapreneurship programs that include executive workshops, intensive boot camps, hands-on training classes and mentoring sessions, and inspiring seminars.

◦ 1500+ attendees in Vietnam Innovation Summit 2022 and 2023. A platform that connects policymakers, governmental agencies, regional funds, leading corporations, fast-growing startups, accelerators, and influencers from around the world through the Open Innovation approach.

◦ 80+ startups joined Crowdpitch. An initiative aiming to support very early-stage startups to pitch their ideas, gain exposure, build and engage in an active community and learn from the best mentors and entrepreneurs. 

◦ 100+ innovation, startup events with the involvement of InnoLab Asia. InnoLab Asia experts actively take part in conferences, workshops, competitions aiming to promote and support startups in general as well as the young Vietnamese entrepreneurial generation.

What is your vision for the future of InnoLab Asia? How do you see it evolving and impacting the innovation ecosystem in the region?

As the senior partner of InnoLab Asia, my vision for the future of our company is deeply rooted in the rapid economic growth of Vietnam and the pivotal role it plays in the ASEAN region. Leveraging the abundance of young, educated technology professionals and our expertise in emerging fields like artificial intelligence (AI), we are poised to shape the innovation ecosystem in profound ways. Looking ahead, I see InnoLab Asia evolving into a beacon of innovation excellence, serving as a catalyst for transformative change in both the local and regional landscapes. Our commitment to nurturing talent through programs like the Impact Entrepreneurship Bootcamp and collaborations with educational institutions ensures a steady supply of skilled individuals ready to drive innovation forward. In line with Vietnam's economic trajectory, we envision expanding our services to encompass a broader spectrum of industries and sectors, including healthcare, finance, Smart city and sustainable development. By staying at the forefront of technological advancements, particularly in Artificial Intelligence and Machine Learning (AIML), we will continue to provide cutting-edge solutions and insights to our partners and clients. Furthermore, our strategic role in the ASEAN region positions us as a bridge between local startups and global markets. Initiatives like the Global Market Entry Program (GMEP) facilitate international expansion for Vietnamese startups while also attracting foreign investment into the region, fostering greater collaboration and exchange of ideas. In essence, our vision for InnoLab Asia is one of continued growth, innovation, and impact. By harnessing the collective talent and resources of Vietnam's vibrant tech community, we aim to drive sustainable development, foster inclusive growth, and solidify our position as a leading force in the region's innovation ecosystem.

Anirban Roy is the Senior Partner of InnoLab Asia. Anirban is responsible for strategic vision, networking, and expertise sharing among others to aid InnoLab in achieving its mission and vision. He is someone who has strong domain knowledge in Mobile and Internet technology and ability to partner with businesses to transform business vision into innovative and leading-edge technology implementation. As seen in Anirban, he is very much passionate about connecting Vietnam’s ecosystem to the world. 

Visit www.techshake.asia if you would like to know and connect more with Innolab Asia.