Startups advised to Identify core values, develop initiatives for social change

Sunday, Oct 13, 2019 18:30

Truong Ly Hoang Phi, founder of the Business Start-up Support Centre, speaks at the "Women Will" conference organised by Google and the Viet Nam Chamber of Commerce and Industry in HCM City last week. — VNS Photo

Young entrepreneurs need to understand the core value of their product instead of focusing too much on technology as their competitive advantage, according to the Business Start-up Support Centre (BSSC).

With her eight years of experience in supporting young businesses, BSSC founder Truong Ly Hoang Phi said that startups should focus on proving the value that the projects can bring to the market.

“People create technology. A successful product must create real value for users," she said. "Technology is a means to help us save time and resources to create products with real value for our users.”

Speaking at a "Women Will" conference in HCM City last week, she said: “The digital economy gives us the advantage of searching for information. We can refer to many successful business models around the world.”

She said that startups should look for their own path instead of copying the ideas of other people. They should also develop business initiatives that contribute to addressing social challenges and making positive contributions to consumers and the community.

They also need to conduct deep researches, thoroughly understand their choices, and never stop learning, she said.

All of the factors that influence the success of a startup in the digital age do not stop at the flashy things on the outside, she said, adding that projects should be perfected starting from the smallest things.

Organised by Google and the Viet Nam Chamber of Commerce and Industry, the conference was part of the "Women Will" programme, a Google initiative to create economic opportunity for women everywhere, including Viet Nam, so that they can grow and succeed.

Former diplomat Ton Nu Thi Ninh, director and actress Hong Anh, businesswoman and model Helly Tong also participated in the event.

Delegates at the conference agreed that age is not a barrier in preventing people to realise their dream of starting a business.

Nguyen The Hung, deputy director of VCCI’s HCM City branch, expressed optimism about the development of Viet Nam's digital economy and the increasing participation of women in the sector.

There are many women-led businesses in Viet Nam. Figures show that 31 per cent of CEOs in the country are women, a high ranking internationally.

Ngoc Ha, representative of the Accelerate Vietnam digital 4.0, a Google initiative, said that taking advantage of digital technology would help women more quickly and easily access new knowledge and find business opportunities.

Delegates said that women who want to succeed need to have find inner confidence and take advantage of all the tools they have, including digital ones, to realize their dreams. — VNS

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