Topic: Startups

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.

Hanoi approved the “Building a digital platform for innovation investment” project on September 15, which aims to attract 300 venture capitalists and 1,500 innovative startups from Southeast Asia by 2025 to participate in the Youth Innovation Investment Digitization Platform. It will also support at least 200 Vietnamese startups during the period, connect 500 investments worth $1 billion for regional startups, and offer loans of VND1 trillion ($42.2 million) for young people to get a business underway.

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.

Recognizing the huge opportunities in the fledgling Web3 ecosystem in Vietnam, startups in the field have been multiplying rapidly and made Vietnam one of the most vibrant blockchain centers in Southeast Asia. Techcollectivesea recently looked at how Vietnam’s top 5 crypto startups are growing and how they handle issues surrounding cybersecurity and fundraising.