In 2015, the Vietnamese government announced a ten-year plan for a broad digital transformation in the country, with an ambitious plan to produce 10 startups valued at over US$1 billion apiece by 2030.
Aiming to incorporate at least 10% digital adoption across all sectors and internet penetration of 80% for all households, the plan appears to be on track.
Estimates by Google, Temasek, and Bain & Co predict that the Vietnamese sector could grow to US$52 billion by 2025, which comes up to about a sixth of the massive US$300 billion SEA digital economy pie. The growth of the Vietnamese e-economy presents multiple opportunities for investors, startups, and businesses alike.
In 2020, the decacorn (startups valued over US$ 10B), recognized the potential of Vietnam’s digital economy, launching an accelerator for early-stage startups. Under their Grab Ventures Ignite accelerator program, five winners emerged, who won over US$1 million in investments and prizes from Grab and its program partners.