Staffers of Lozi, a start-up online food review community, at their office. (Photo: Tuoi Tre) Hanoi (VNA) - Many young people, including thosewho’ve studied abroad and returned home to establish their own businesses,shared useful ideas on startups at a conference held last week in HCM City.
Nguyen Trong Nhan, director of Fablab Sai Gon, said that startinga business means working for oneself and looking for new values, and theselessons need to be learnt from successful start-ups.
Young people are attracted by recent Government policiesencouraging startups. However, while establishing a startup is fairly easy,making it internationally competitive needs support and advice from experiencedexperts, Nhan said.
Tran Bao Tran, managing director of Sea Media Ltd Co, a formerstudent in Switzerland, said there were three challenges that overseas studentsfaced when coming back home to start a business - finding investors,enthusiastic employees and a conducive investment environment.
David Ngo, an American Information Technology expert, explainedhis reasons for starting a business in Vietnam: "The Government wantsVietnam to become a start-up nation and has adopted suitable policies onbuilding smart cities. Therefore, the country’s policies are a driving force. Besides,the country is also developing in science and technology. If they receiveinvestments, young people here will not be inferior to others in theworld."
Ngo said the entrepreneurial spirit was high in Vietnam.
"However, the boom is developing only in width, not in depth.I found out that many young entrepreneurs are just following the trend. Theneed orientation and direction from their predecessors. Lacking financialskills, they can easily go bankrupt. I wish to see more training sessions toguide young entrepreneurs in avoiding risks."
Duong Minh Tri of the HCM City Institute of Physics, VietnamAcademy of Science and Technology, said the state’s role in developing astartup ecosystem is not intervention, but creating a transparent businessenvironment.
For young investors, capital is important, but more important isknowledge about the market, experience from failures, innovation andcompetitiveness. Therefore, it is necessary to foster startup ideas amonguniversity and college students, and establishing funds to provide capital assistance,Tri said.-VNA
Nguyen Trong Nhan, director of Fablab Sai Gon, said that startinga business means working for oneself and looking for new values, and theselessons need to be learnt from successful start-ups.
Young people are attracted by recent Government policiesencouraging startups. However, while establishing a startup is fairly easy,making it internationally competitive needs support and advice from experiencedexperts, Nhan said.
Tran Bao Tran, managing director of Sea Media Ltd Co, a formerstudent in Switzerland, said there were three challenges that overseas studentsfaced when coming back home to start a business - finding investors,enthusiastic employees and a conducive investment environment.
David Ngo, an American Information Technology expert, explainedhis reasons for starting a business in Vietnam: "The Government wantsVietnam to become a start-up nation and has adopted suitable policies onbuilding smart cities. Therefore, the country’s policies are a driving force. Besides,the country is also developing in science and technology. If they receiveinvestments, young people here will not be inferior to others in theworld."
Ngo said the entrepreneurial spirit was high in Vietnam.
"However, the boom is developing only in width, not in depth.I found out that many young entrepreneurs are just following the trend. Theneed orientation and direction from their predecessors. Lacking financialskills, they can easily go bankrupt. I wish to see more training sessions toguide young entrepreneurs in avoiding risks."
Duong Minh Tri of the HCM City Institute of Physics, VietnamAcademy of Science and Technology, said the state’s role in developing astartup ecosystem is not intervention, but creating a transparent businessenvironment.
For young investors, capital is important, but more important isknowledge about the market, experience from failures, innovation andcompetitiveness. Therefore, it is necessary to foster startup ideas amonguniversity and college students, and establishing funds to provide capital assistance,Tri said.-VNA
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