According to statistics from the National Agency for Technology Entrepreneurship and Commercialisation Development, Vietnam has currently about 3,800 startups. 11 of these are valued at over US$100 million, and three start-ups are valued at over $1 billion, including Momo, VNG, and VNLife.
Vietnam is currently one of the three Southeast Asian countries forming a “startup golden triangle,” along with Singapore and Indonesia. These are the countries that have the leading technology talent and an existing innovation culture.
An important factor determining the success or failure of startup enterprises is the ability to access capital. Statistics from BambuUP show that about 210 venture capital funds operate and invest in innovative startups in Vietnam.
Of these, nearly 40 domestic investment funds were established under Decree 38 with a total charter capital of more than VNĐ100 billion ($4.1 million). The number of angel investors is also increasing.
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