Vietnam’s aims to attract 1 billion USD for startups in 2019

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(VOVWORLD) - The Vietnam Venture Summit 2019, the first of its kind, was held in Hanoi on Monday to expand the access of Vietnamese start-ups to over 100 international venture funds.

Vietnam’s aims to attract 1 billion USD for startups in 2019 - ảnh 1 The Vietnam Venture Summit 2019 connects Vietnamese startups and international venture funds. (Photo: 

Sponsored by the Ministry of Planning and Investment, discussions focused on support and demand in financial technology, artificial intelligence and e-commerce, and experience in expanding business operations globally. The summit introduced Vietnam’s business environment, startup ecosystem and the National Innovation Centre and collected investor suggestions regarding government support and that of other interests.

Participants noted positive signs in Vietnam’s startup ecosystem, which is witnessing the operation of more than 40 venture funds, doubling the number from 2015. Some of them come from major corporations such as FPT, Viettel, and Vingroup.

“Vietnam enjoys abundant technical personnel, a dynamic market, and a solidly growing startup community in both quality and quantity which is trying to reach out to the world. For example, local startup Abivin, which provides AI-powered logistics and Supply Chain Optimization solutions for enterprises, has won the 2019 Startup World Cup in the US with a prize of one million USD," Minister of Planning and Investment Nguyen Chi Dung told the summit.

"Vietnam hasn’t yet made full use of its resources to inspire innovations serving its development. This Summit, with the aim of luring investment capital, is a part of our strategy to boost Vietnam’s startup ecosystem,” he added.

Vietnam expects to attract one billion USD for startup businesses in 2019.