Econ
Hanoi: Startup sets new trend
The role of international “angel investors” in Vietnam’s startup ecosystem was yesterday discussed at a seminar in Hanoi.
Organised by the Mekong Angel Investors Network, the Mekong Business Initiative and the Asian Development Bank (ADB), the event welcomed investor groups from the European Union, New Zealand, the US and local investors and startup enterprises.
Co-founder and CEO of HATCH, a startup incubator, Pham Quoc Dat said “angel investors” are affluent individuals who possess huge properties and provide capital for startups. Angel investors pool their investment capital and want to meet and work with talented people, Dat added.
ADB Country Director for Vietnam Eric Sidgwich said that Vietnam needs a dynamic private sector which should come from a solid foundation of small-and- medium sized innovative enterprises. He asserted that as a partner of Vietnam, the bank will support the country’s private sector.
Participants at the event also discussed a number of startup matters such as experience in developing a company, building trust between angel investors and Vietnamese enterprises and how to approach angel investors.
Startup has become a new trend that Vietnamese youngsters are pursuing nowadays. Head of the Department of Software Engineering under the city-based University of Science Dinh Ba Tien said technology is the field that could bring enormous opportunities for businesses to reach out the international market.
Truong Ly Hoang Phi, Director of the Business Startup Support Centre (BSSC), said what discussed during the event are significant to policy making for small-and medium-sized enterprises (SMEs) and startup models. She suggested enabling young startups to gain access to potential fields, including technology, while building staff with long-term development orientations.
The exploration of technological and innovative projects as well as the encouragement of experienced and influential figures to develop the startup ecosystem in Vietnam are recommended. Vietnam has about 1,000 startup projects on technology each year. An increasing number of organisations are investing in this field.
In June, 2016, as many as 100 excellent businesses in various fields nationwide were honoured with a Young Startup Entrepreneur Award 2016 at a ceremony in Hanoi. The businesses, chosen from hundreds of nominees across the country, were also recognised for their high-quality and environmentally friendly products as well as their contributions to social welfare activities and community development.
