VietNamNet Bridge - For foreign investors, most Vietnamese startups copy foreign ideas and develop ideas locally. However, many Vietnamese startups are creative and have brought big money to their owners. According to Tech in Asia, there are about 1,500 operational startups in Vietnam. The figure, if compared with the population, is higher than Indonesia with 2,100 startups, China with 2,300 and India with 7,500. Reuters in April 2016 published an article commenting that most Vietnamese startups are in e-commerce and related fields. The e-commerce grew by 35 percent in 2015 to $4 billion which brought many opportunities. On Deal Street Asia, Jamie Camidge, a startup expert from Muru-D Center, commented that many Vietnamese startups simply copy successful business models in the world and develop models in Vietnam. The comments show foreigners’ outlook about the Vietnamese startup community: while the quantity is high, the quality isn’t. Vu Tuan Anh from Hoa Sen Group also … [Read more...] about Vietnamese startups – who are they?
The seven-storey building of the Ministry of Science and Technology’s National Agency for Science and Technology Information lies at the end of Hanoi’s Ly Thuong Kiet street looking shabby, in need of renovation after decades of neglect.However, on the building’s top floor sits a large incubator for those turning their novel ideas into brilliant business. The floor greets visitors with a banner reading “Welcome to the home of angels”, running along the upward staircase.Here you will find the base of Can Thi Thanh Hien’s startup enterprise. Hien, only 22, is the co-founder of Fresh Deli, a firm established in September 2016, operating with only five team members.Fresh Deli uses an app to connect itself with its customers and stay-at-home cooks for lunchtime meals.“We make different menus and send them to housewives, who in turn use fresh ingredients to cook homemade lunch meals according to the menus. Then our staff will deliver the portions … [Read more...] about Angels find their calling in tech startup incubator
NDO – Investors around the world have ranked Vietnam third in the list of the best countries the world should invest in, leading to the inflow of international venture funds. Scientific and technology activities in 2016 have also prospered, especially in the startup field, with a series of startup businesses and projects receiving large investments and recording success. Potential needs to be awakened One of the most important goals for developing an innovative startup is to create a favourable environment that encourages investors and funds to seek cooperation and investment in businesses with potential for rapid growth based on the exploitation of intellectual property, new technologies and innovative business ideas. Startup development policies have been confirmed in several documents by the Party and State, which stress the role of the Government in synchronising a legal framework and policies needed to support startup activities and startup investments. Currently, … [Read more...] about New startup impetus as Vietnam innovates Most Recent News
Ten semi-finalist teams will present their pitches and compete to be in the top three for the national round in 2018.To date, members of the judging committee in the Hanoi regional round are Bui Hai An, manager, director and co-founder of Silicon Straits, MSV Tech, Cognito CRM and TGM Tech, and Dung Phan, founder of Big Cat Entertainment.Additionally, the judging panel for the Ho Chi Minh City regional round will consist of Bui Cam Van, CEO of Up Co-working Space; Le Quoc Vinh, chairman and CEO of LeGroup; Nguyen Dinh Thanh, managing director and co-founder of Elite PR School; Tran Phuong Hoa, CEO of Summit Education Services; and Denny Cowger, chief administrative officer and general counsellor of Ortholite.In April 2018, the last round of the competition will take place in the venue of Massachusetts Institute of Technology (MIT), Boston.Following the 2017 entrepreneurial competition, VietChallenge will shake hands with Association of Vietnamese Students and Professionals in … [Read more...] about Global startup competition to march on to regional rounds
Funds highlight conditions to invest in startup projects Thai Ngoc By Thai Ngoc - The Saigon Times Daily HCMC – Investment funds at a seminar in HCMC on Tuesday highlighted criteria they often consider when making decisions to invest in business startups, especially experiences of founders, organizational structures, and market segments for products. According to Than Trong Phuc, managing director of DFJ VinaCapital, funds also look at the workforce of such young enterprises and their sets of working processes. Phuc said his firm pays attention to startups or projects in the information technology sector, especially technologies that are invented in Vietnam yet can be applied abroad or developed into commercial products. DFJ VinaCapital has spent US$30 million on Vietnamese firms with a minimum investment of US$300,000 and a maximum of US$5 million. Many representatives from private investment and venture capital funds expressed their concern about business ethics. … [Read more...] about Funds highlight conditions to invest in startup projects