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 Saigon Tech Startup Fest 2016 - the first large-scale tech startup festival in Vietnam, opened in Ho Chi Minh City on March 12, attracting thousands of people, particularly students in the field of information technology. Entitled 'Bringing the spirit of Silicon Valley to Vietnam', the festival aims to help young Vietnamese people discover innovative IT projects, emerging technology firms, and meet with leading names in the industry and active communities who are actively promoting the development of domestic tech startup activities. The event included various activities such as seminars, exhibitions, in-depth discussions and job recruitment with the registration of more than 4,500 people, the participation of 50 enterprises and 20 speakers including speakers from world-renowned companies such as Google, Microsoft, Uber, Tiny Pulse, VNG among others. Topics of great interest such as digital marketing, entrepreneurial spirit, growth hacking, mobile programming and so on … [Read more...] about Thousands of young people attend Tech Startup Fest in HCM City
Minister of Science and Technology Nguyen Quan officially launched a fund to support the Innofund technology incubator on September 25. Innofund is a key part of the Business Incubators Policy Project (BIPP) project. It will mainly provide non-refundable financial support to feasible projects from organizations and individuals in the application of high technology and startups and projects in science and technology. Innofund will provide finance for each project ranging from EUR15,000 ($16,791) to EUR45,000 ($50,375). The launch is part of the BIPP project, worth a total of EUR4.4 million ($4.92 million), of which EUR4 million ($4.47 million) was sourced from the Belgium Government’s non-refundable official development assistance (ODA), while the remaining amount will be sourced from Vietnam’s reciprocal capital. According to Minister Quan, Vietnam has about 50 technology incubators at universities, enterprises, and high tech park, such as the Hanoi University of … [Read more...] about Finance comes for high tech incubator
The Ministry of Science and Technology on Friday announced a 1-million-euro (US$1.12 million) fund for Vietnamese incubators of tech startups, local media reported. Each beneficiary of Innofund will receive a grant of 15,000-45,000 euros ($16,800-50,400) besides technical assistance in identifying potential startups. The fund is part of a project which was started last year by the Vietnamese government in collaboration with the Belgian government to support local startup incubators . Better known as BIPP, the five-year project has a total funding of 4.4 million euros, of which nearly 91 percent comes from Belgium. Minister Nguyen Quan was quoted as saying that about 50 incubators are now active around the country, including those which are run by universities in Hanoi and Ho Chi Minh City. … [Read more...] about Vietnam launches $1-million fund for startup incubators
The app developed by Wisepass, a company that was founded in 2014 in Ho Chi Minh City, allows users to get stuck into either 30 bottles of liquor or 30 meals per month at more than 100 different locations such as restaurants, bars and 5-star hotels in the city for VND6 million (US$260) per month. And WisePass recently secured a partnership with Starbucks which allows members to redeem any cup, any size per day. The statistics show that initially WisePass membership covered only drinking, but later it added new options for members such as food and events. Since the recent partnership with Starbucks, consumers have been very interested in dining there and luxury chains besides enjoying wine.The app currently has 400 members and has been used nearly 11,680 times. But the benefit that the app offers is not limited to its members. Beyond that, it offers a platform for brands to get closer to their consumers’ needs and analyze the ways in which their produce is … [Read more...] about The lifestyle startup that helps brands better understand their consumers in Vietnam