community and the goal of a startup country
Vietnam is working hard to realize
the goal of 1 million startups by 2020. This endeavor requires great efforts
by both the Government and business community.
The startup movement is growing strongly in Vietnam,
mostly in the IT and service industries. 30% of 200,000 businesses in Hanoi
Association of Small and Medium Enterprises has established a fund to support
businesses and encourage bigger companies to assist startups.
Anh, the Association’s Vice Chairman and Secretary General, said “Startups
should focus on breakthrough products to avoid competition from bigger and
more experienced businesses. In addition to advanced technology application,
creativity and dynamism are among the most important factors for startups.”
group is cooperating with foreign foundations and incubators to create 5,000
technology firms in Vietnam by 2020.
Duc, Director of FPT Ventures said that FPT will offer financial support and
expertise to help startups create products for both domestic consumption and
cooperated with Korea’s Hanhwa group, Dragon Capital, and BIDV Securities
Company to establish a foundation which supports startups with access to
capital, international markets, and training,” he said.
the Vietnam Chamber of Commerce and Industry Vu Tien Loc said “The
Government’s target of 1 million startups by 2020 is very important to
develop Vietnam into a country of startups. A series of policies and measures
have been introduced to encourage startups and innovation and build a
constructive and business-serving Government.”