Vietnam set to become Asia startup hub
Updated: 14:11, 13/01/2022
Vietnam could be Asia’s next startup hub after local companies saw funding surge over 40 times in the last five years, a venture capitalist said.
Venture funding for startups in Vietnam reached $2.1 billion last year, up from just $48 million in 2017, Binh Tran, co-founder of Ascend Vietnam Ventures, told Bloomberg Television.
Entrepreneurs speak at a startup event in December 2020. |
The sector is now attracting top tier Silicon Valley venture capitalists, including Goodwater Capital LLC, Accel Partners LP and Altos Ventures Management Inc, he added.
"Vietnam saw a tremendous amount of maturity and growth early on, which will help it become a very important hub for the region," he said.
The country is forecast to have the second-largest digital economy in Southeast Asia by 2030, according to a report by Google, Temasek Holdings Pte and Bain & Co.
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Marathon, an after-school learning startup established this year, has raised $1.5 million in pre-seed funding from several funds and angel investors, including Singapore’s Forge Ventures.
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Source: VnExpress
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