Business
Nearly 170 investors attend TechFest Vietnam 2016 in Hanoi
TechFest Vietnam 2016, a startup festival, that closed in Hanoi on November 13 draw nearly 170 investors and over 3,000 visitors, according to the organising board.
Addressing the closing ceremony, Deputy Minister of Science and Technology Tran Van Tung said that the two-day festival helped to develop a startup ecosystem in Vietnam.
Deputy Minister Tung noted that participants discussed issues hindering the growth of the startup community following the suggestions of Deputy Prime Minister Vu Duc Dam.
The event organised various seminars and conferences while international programmes and projects sponsoring startups and investment funds in Vietnam were also honoured. During the festival, an exhibition took place to showcase new products of more than 100 startups.
In addition, nineteen outstanding startups who won a contest at the event will be provided a visit to Silicon Valley in the US.
According to Minister of Science and Technology Chu Ngoc Anh, TechFest Vietnam 2016 showed the development of the knowledge-based economy.
The minister called for support from the Government, ministries, sectors, localities and investors to startups, which has been considered signifivantly to contribute to sustainable economic development.
The introduction of a Steering Committee for a project to support the startup ecosystem during the festival was an important milestone for the expansion of the startup community, minister Anh said.
The event also showed clearly the ministry's determination to coordinate with other ministries, sectors and localities to synchronise legal frameworks and create favourable conditions for startups, investors and startup support organisations.
According to the Ministry of Science and Technology, Vietnam is the world’s third most attractive country for venture capital funds.
Vietnam now has 1,800 startups, 21 incubating facilities and seven business accelerators.
2016 was considered a good year for startups, as many Vietnamese startups have received big investments.
More than 20 foreign venture capital funds are also operating in Vietnam, including IDG Venture, Cyber Agent Venture and Vina Capital.
Deputy Minister Tung noted that participants discussed issues hindering the growth of the startup community following the suggestions of Deputy Prime Minister Vu Duc Dam.
The event organised various seminars and conferences while international programmes and projects sponsoring startups and investment funds in Vietnam were also honoured. During the festival, an exhibition took place to showcase new products of more than 100 startups.
In addition, nineteen outstanding startups who won a contest at the event will be provided a visit to Silicon Valley in the US.
Delegates attend the TechFest Vietnam 2016 in Hanoi.
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The minister called for support from the Government, ministries, sectors, localities and investors to startups, which has been considered signifivantly to contribute to sustainable economic development.
The introduction of a Steering Committee for a project to support the startup ecosystem during the festival was an important milestone for the expansion of the startup community, minister Anh said.
The event also showed clearly the ministry's determination to coordinate with other ministries, sectors and localities to synchronise legal frameworks and create favourable conditions for startups, investors and startup support organisations.
According to the Ministry of Science and Technology, Vietnam is the world’s third most attractive country for venture capital funds.
Vietnam now has 1,800 startups, 21 incubating facilities and seven business accelerators.
2016 was considered a good year for startups, as many Vietnamese startups have received big investments.
More than 20 foreign venture capital funds are also operating in Vietnam, including IDG Venture, Cyber Agent Venture and Vina Capital.
