14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

Hanoi’s edtech and healthtech startups to get financial supports

Khanh Phi - Khac Kien

Apr 04, 2022 / 03:00 PM

The program, launched for the first time, draws the participation of 20 investors and strategic partners.

A startup foundation program in the 2022 - 2025 period will focus on supporting Hanoi’s technology startups in the health and education sectors for the pre-seed and seed stages.

The launch ceremony of the Startup Foundation Program. Photo: Sun*

It is expected to draw 20 investors and strategic partners including Do Ventures, CyberAgent, BK Fund, ThinkZone Ventures, KK Fund, An Viet Venture, and VIC partners.

Selected startups will receive assistance in terms of product management and technology consulting, capital, and market output to tackle the shortage of the startup ecosystem.

Each startup in the program’s selection round will receive an initial support investment with a minimum funding of $20,000 - $60,000 or unlimited financial assistance from strategic investors of the program in one and a half or two. After about five months, the next round will be launched.

In addition, startups will also be entitled to many other supports from the program's major partners such as a technology platform support package worth up to $10,000 from major technology firms, as well as communication and recruitment, legal consulting and training packages.

Vietnam is a favorite destination for investment funds, according to the National Agency for Technology Entrepreneurship and Commercialization Development under the Ministry of Science and Technology.

Vietnamese startups attracted investments of more than $1.35 billion in 2021. The fields drawing the largest amount of capital are education, healthcare, financial technology, games, and e-commerce. There were 208 active venture capital funds, of which 40 are domestic investment funds.

The startup model program is founded by Sun* Startups, which is owned by Sun Asterisk Vietnam (Sun*), a startup studio.

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