Next Wave of Startups 2026 adopts accelerator model

Jointly organized by WorkFlow, the Open Innovation & Technopreneur Institute (OITI), and ecosystem partners, the Next Wave of Startups 2026 Program (NWoS) reflects the evolving needs of Vietnam's startup ecosystem, where founders are increasingly seeking market access, investment, and commercialization support beyond early-stage recognition.

Unlike the 2025 edition, which focused on identifying promising startups through a nationwide competition, the 2026 program adopts a structured incubation and accelerator model designed to help startups refine their business models, expand market opportunities, and prepare for sustainable growth.

The inaugural season attracted nearly 200 startup applications, engaged around 40 domestic and international mentors, and brought together more than 1,000 participants, including entrepreneurs, investors, corporate representatives, and international partners. According to the organizers, the program also highlighted the growing demand for sustained post-selection support as Vietnam's startup ecosystem continues to mature.

The 2025 edition was supported by a network of international mentors and ecosystem partners, including the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC), an organization under Vietnam's Ministry of Science and Technology, Amazon Web Services (AWS), Business Finland's Work in Finland program, and experts from the Asian Development Bank (ADB). Their participation provided startups with mentorship, policy insights, international market perspectives, and business development guidance throughout the competition.

Many startups have moved beyond the idea stage and now face more complex challenges, including validating business models, acquiring enterprise customers, expanding into new markets, and becoming investment-ready. To address these challenges, NWoS 2026 has been redesigned as an accelerator program offering long-term mentorship and ecosystem support.

Founders reflect on their startup journey

Several founders who participated in NWoS 2025 shared how their businesses have evolved since joining the inaugural program.

Mr. Viet Pham, CEO and Founder of Diaflow, said the past year had been a period of significant transformation for the company. "It wasn't just our product that evolved, but also the way we viewed the business. We closed our seed funding round led by Insignia Ventures Partners, one of Southeast Asia's leading venture capital firms, surpassed 10,000 users globally, and achieved SOC 2 Type II, HIPAA, and GDPR certifications—standards that very few Southeast Asian startups reach at the seed stage," he said.

Ms. Thao Nguyen, Co-founder of GrowLab, said the competition became a turning point for the startup - NWoS was also the first competition GrowLab ever entered. Following NWoS 2025, GrowLab won the championship at Techfest Vietnam 2025, represented Vietnam at the Startup World Cup 2026, and established partnerships with major corporations and foreign government agencies to commercialize its technology.

According to Ms. Thao, feedback from the NWoS judging panel fundamentally reshaped the company's business model. "The most valuable takeaway was the candid feedback from the judges, which encouraged us to make technology licensing a core part of our growth strategy. That completely changed our direction," she said.

Meanwhile, Ms. Bich Ngoc, representative of Easy AI, described NWoS 2025 as a milestone in the company's commercialization journey. "The program broadened our perspective on product commercialization while connecting us with experts and businesses across the innovation ecosystem. One of the most memorable moments was meeting a senior leader in Vietnam's startup community during the final round. Their encouragement gave our team the confidence to continue developing the product," she said.

International mentors also shared their observations on the inaugural program.

Mr. Samuel Harris, ASEAN Partner Lead at Amazon Web Services (AWS), said he was encouraged by the number of startups developing AI-powered solutions for both global and local markets. "It was exciting to see so many startups embracing AI and generative AI to build products for global markets from Vietnam. At the same time, many others were developing well-executed solutions for local opportunities in sectors such as solar energy and agriculture. AWS was pleased to support these startups on their journey and greatly values the partnership," he said.

Ms. Van Anh Le, Talent Manager of the Work in Finland program at Business Finland, said the initiative created valuable opportunities for founders to connect with international partners. "We see the program as a valuable platform for startup founders to accelerate their business ideas, solve global challenges, and connect with opportunities offered by international partners. We believe Vietnam will produce more unicorns in the future, and that programs like NWoS help lay the foundation for Vietnamese founders to expand globally," she said.

Meanwhile, Mr. Sammuel Ang, Chairperson of Pollinate and an Asian Development Bank (ADB) Innovation & Industry 4.0 expert, said the program's hands-on approach distinguished it from many startup initiatives.

"The founders brought together by NWoS represent an exceptional caliber, with solutions built for real markets in Vietnam and beyond. What particularly impressed us at ADB was the program's deliberate focus on pairing founders with hands-on mentorship while creating genuine pathways to regional opportunities. We are proud to have supported the program and look forward to deepening our partnership as NWoS scales," he said.

Three pillars for startup growth

The 2026 program is expected to receive more than 100 qualified applications, from which approximately 10 startups will be selected for an intensive training program. The top three startups will then advance to the Commercialization & Fundraising stage, where they will validate their solutions through pilot projects while engaging with potential investors.

Applications for Batch 2026 will close on August 20. Selected startups will then begin the training program before presenting their solutions at Demo Day, scheduled for October 24 as part of Open Innovation Day (OID). At the event, the cohort will showcase its innovations to investors, corporations, and ecosystem partners, with the top three startups advancing to the Commercialization & Fundraising stage.

From November to December, the three finalists will work with corporate partners on real-world pilot projects while receiving support to secure commercial partnerships, sign memoranda of understanding (MoUs), and connect with investors for subsequent fundraising rounds. Batch 2026 will conclude on December 31, after which participating startups will continue to receive support through the NWoS network of partners, mentors, and investors.

Speaking with Vietnam Economic Times, Mr. Nguyen Dinh Quy, CEO and Founder of WorkFlow, said the program is built around three strategic pillars:

The first focuses on policy support, backed by the National Academy for Advanced Technology and Innovation (NACENTECH), to help startups better access government innovation policies, innovation programs, and public-sector support mechanisms. The goal is for the program to ensure that government support packages genuinely reach NWoS startups.

The second establishes a dedicated investment pathway, supported by a $500,000 fund committed to direct investment in NWoS startups and a structured evaluation process led by the program's Investment Committee, providing qualified startups with clearer opportunities to secure funding.

The third pillar emphasizes commercialization, connecting startups with corporations and industry partners to develop pilot projects, establish commercial partnerships, and accelerate market expansion.

Beyond the accelerator program, participating startups are expected to gain access to approximately $1 million in total support value, including cash awards, in-kind benefits, ecosystem resources, and investment opportunities for startups that meet the program's evaluation criteria.

As one of the co-organizers, OITI will continue working with WorkFlow and ecosystem partners to connect participating startups with mentors, industry experts, corporations, investors, and innovation support organizations.

Mr. Quy said the transition from a startup competition to a dedicated accelerator program reflects a long-term commitment to supporting startups beyond the selection stage by helping them validate their business models, accelerate commercialization, and build scalable businesses capable of contributing to Vietnam's innovation ecosystem.

Overall, the transition reflects a broader shift in Vietnam's startup support ecosystem. Instead of ending at the competition stage, NWoS now seeks to accompany startups through commercialization, market expansion, and fundraising, with the goal of helping more Vietnamese ventures build sustainable and globally competitive businesses.