VNG Corporation became Vietnam’s first ever unicorn tech startup and was valued at one billion USD by the World Startup Report in 2014, a figure expected to rise in 2018.

The five most profitable fields for startups are financial tech (Fintech), electronic commerce (E-commerce), technology services related to tourism (TravelTech), logistics and education tech (Edtech).

Meanwhile, Yeah1 became the first media company in Vietnam to be listed in the stock market with valuation of 500 million USD.

Its ambition is to become the first unicorn startup in the communications industry in Southeast Asia in the next three years.

Director of TFI Mai Duy Quang described 2018 as a successful year for Vietnamese startups.

The five most profitable fields for startups were financial tech (Fintech), electronic commerce (E-commerce), technology services related to tourism (TravelTech), logistics and education tech (Edtech), he said.

Fintech topped the list with eight deals worth 117 million USD, followed by E-commerce with five deals worth 104 million USD and TravelTech with eight deals worth 64 million USD.

Logistics and Edtech respectively attracted three and four deals worth a combined 50 million USD.

Domestic funds, including Vingroup Ventures, Viet Capital Ventures and Viet Partners, also made big investment in startups, Quang said.

In early 2019, TFI and Singapore-based Insignia Venture Partners signed an investment cooperation agreement, under which Insignia will invest at least 50,000 USD in each graduated startup from TFI.

This is the first collaboration of its kind in Vietnam, according to TFI.

“Vietnam is an energetic and potential startup market. If a proper investment is available, great Vietnamese startups can emerge. Insignia Ventures Partners is showing great interest and desire to contribute for this development,” said Yinglan Tan, founder of Insignia Ventures Partners.

Bac Giang’s youth confidently runs startups and creates bright future

(BGO)- In current hectic life, a number of young people take challenges to run their startups in new sectors. With their passion and dynamism, many of them succeed in realizing their dreams.

 

Vietnamese startups to compete in November

The final round of NTT Com Startup Challenge, a contest for Vietnamese startups, will be held in Ho Chi Minh City on November 22.

 

Bac Giang awards youth innovative startup contest

(BGO) – The Ho Chi Minh Communist Youth Union (provincial youth union) in the northern province of Bac Giang on October 11 held a ceremony to summarizing and granting the prize to the Youth Innovative Startup Contest as well as honoring typical young people in doing business. 

 

Ho Chi Minh City Innovation and Startup Week launched

The 2018 Ho Chi Minh City Innovation, Startup and Entrepreneurship Week (WHISE 2018), the city’s biggest startup event of the year, will be held from October 15-19, with the aim of promoting innovation and startups in the city.

 

Team using Vietnam’s rice drying technology wins int’l startup contest

SunRice team from the University College of London with its rice drying model based on Vietnam’s rice grain drying technology has won the first place of the Hult Prize competition for start-ups.

 

Source: VNA