Tag: Startups

As a joint stock company, the fund will receive VND500 billion ($19 million) from the city's budget.

Vietnam is emerging as an attractive destination thanks to the effective implementation of its free trade agreements with the EU, the UK, and Asia-Pacific countries.

Vietnam being the 51st highest funded country last year, according to Tracxn Geo Annual Report.

Navigating volatile times, Vietnamese startups find themselves answering the question of how to master cash flow management and strategic planning for sustainable, profitable growth and funding.

Startups continue to face financial difficulties and a lack of suitable strategic advisors.

The Vietnam Private Capital Agency (VPCA), launched on September 12, aimed at promoting best practices in venture capital and private equity.

Vietnam has more than 3,000 startups and 140 universities and research institutions carrying out startup and innovation activities.

According to Tech Collective, the venture capital (VC) trend in Vietnam will be the driving force in the “Golden Triangle of Startups in Southeast Asia”, which includes Vietnam, Indonesia, and Singapore. More than $1.4 billion of investment poured into Vietnam’s tech startups in 2021; 1.6-fold more than in 2019. The number of funds investing in startups rose 60 per cent.

The leader of the Binh Dinh Provincial Department of Planning and Investment has said that the south-central province will create the best possible conditions for startups and will strongly support investors in all stages. It is expected that there will be “unicorns” emerging from the province.

Microsoft has announced the creation of the Startups Founders Hub digital platform, to help startups in Asia, including in Vietnam, realize their ambitions along their startup journey. The platform gives startups free access to necessary technologies, tools, and resources, with over $300,000 worth of benefits.

A clear legal framework and policy mechanism to regulate capital mobilization and promote the role of investment funds would be a useful solution to help small businesses and startups.

Speaking at the opening ceremony of the “Start-up Festival 2022” on January 19, Mr. Pham Tan Cong, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), emphasized that Vietnam needs a new mechanism for a new startup model, paving the way for new technology initiatives and at the same time creating conditions for startups to be creative, using intelligence for innovation.

Vietnam’s startup ecosystem is at a turning point in leaving an impression on the region and the world. Over the past two years, despite the strong impact of Covid-19 on the country’s economy, deal numbers have increased sharply, to 108.

Vietnam saw a record increase in capital invested into startups in 2021, totaling more than $1.3 billion, with similar levels expected this year. Most deals, however, are funded by foreign investors. Another issue of note is the low number of projects being funded, at about 100 deals each year, while Vietnam has approximately 3,800 startups and 200 investment funds.

Startup investments around Vietnam have grown significantly this year, with fintech, games, edtech, healthcare, and e-commerce being the most-favored sectors.

Many startups have faced difficulties since Covid-19 struck despite applying technology and receiving capital from investors. Others, however, continue to make breakthroughs because they recognize how to seize opportunities from the pandemic and identify new market needs and consumer behavior.