Vietnamese startups zero in on global solutions to make breakthroughs
The Vietnamese startup community has made breakthroughs despite difficulties brought by the COVID-19 pandemic as a record high of more than 1.3 billion USD in venture capital was pumped into startups last year.
The Vietnamese startup community has made breakthroughs despite difficulties brought by the COVID-19 pandemic (Photo: ictvietnam.vn)
Hanoi (VNA) -🅺 The Vietnamese startup community has made breakthroughs despite difficulties brought by the COVID-19 pandemic as a record high of more than 1.3 billion USD in venture capital was pumped into startups last year.
The amount showed their dynamism, flexibility and resilience amid the complex developments of COVID-19.
Pham Hong Quat, head of the National Agency for Technology Entrepreneurship and Commercialisation Development, said the startups opted for technological solutions in calling for investment due to the pandemic.
Domestic demand helps Vietnamese startups pilot their digital transformation products and come up with solutions which are expected to go global, he added.
As there is a need for those who are capable of turning technologies into business models in a bid to resolve specific issues of the market, startups and consultants are believed to play an important role. Support from major businesses will also enable Vietnamese startups to compete with their peers in regional countries.
♏ This year, Vietnamese startups are projected to ride the wave of momentum in 2021. Once they recognise global solutions and trends in the post-pandemic period, they will be able to cope with and make breakthroughs, Quat said.
An office in Vietnam (Illustrative photo: baodautu.vn)
To facilitate the rapid development of the startup community, Quat underlined the need for coaches and consultants, adding that more policies are required to support startups that address global solutions.
Tech experts said that orientation for Vietnamese startups to resolve global issues is a focus of the national economic development facilitation at large and innovation in particular.
ꦚ Startups are advised to collaborate with each other and join hands with major corporations, coaches and consultants so as to go global and obtain better achievements this year./.
A record high of 1.35 billion USD was poured into Vietnamese startups last year, making the country among the most attractive destinations for startups in the region.
The Australian Government has committed 4.9 million AUD (3.53 million USD) of investment in Vietnam's venture fund Ascend Vietnam Ventures (AVV) to assist local startups, according to the Australian Embassy in Vietnam.
A record of over 1.3 billion USD was poured into Vietnamese startups in 2021 despite the complicated developments of the COVID-19 pandemic, helping the country rank third in the group of the most dynamic innovative startup ecosystems in Southeast Asia, only after Indonesia and Singapore, statistics show.
With a total committed investment f up to 60 million USD, ThinkZone Fund II is the largest venture capital fund in tech startups founded by Vietnamese entrepreneurs and notable conglomerate owners.
Vietnamese businesses, particularly small and medium-sized enterprises (SMEs), must embrace digital and AI transformations to remain competitive and achieve sustainable growth, experts said.
Under the European Union (EU)’s global initiative on Chemical, Biological, Radiological, and Nuclear (CBRN) Risk Mitigation Centres of Excellence (CoE), Vietnam has implemented numerous projects aimed at strengthening national capacity in detecting, preventing, and preparing for CBRN-related threats.
The course aims to promote knowledge exchange between scientific and educational schools from different countries, while deepening participants’ expertise in modern technology and technical education. It comprises two main specialisations of electronics-automation and nuclear technology.
ANTARA and VNA can design global-scale cooperation programmes or joint media campaigns, demonstrating the comprehensive strategic partnership between Vietnam and Indonesia, as well as the cooperation between the two national news agencies.
As Vietnam’s digital transformation accelerates, both the frequency and severity of cyberattacks are growing. The National Cybersecurity Association (NCA) reported that in 2024 alone, there were some 659,000 separate cybersecurity incidents, impacting around 46.15% of government agencies and businesses.
A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
The Vietnamese startup community has made breakthroughs despite difficulties brought by the COVID-19 pandemic (Photo: ictvietnam.vn)
An office in Vietnam (Illustrative photo: baodautu.vn)
