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| A panel of angel investors from the European Union, New Zealand and the US gathered to discuss the role of foreign investors in Viet Nam's startup ecosystem in Ha Noi on Monday. –– VNA Photo |
HA NOI (Biz Hub) –– A panel of angel investors from the European Union, New Zealand and the US gathered to discuss the role of foreign investors in Viet Nam's startup ecosystem in Ha Noi on Monday.
The meeting attracted attention from local startup founders and investors.
"In general, I am impressed with the entrepreneurial spirit we have encountered in Laos, Cambodia and Viet Nam. Viet Nam particularly intrigues us for its relatively large population of skilled engineering talent. This is my third trip and I continue to see an increasingly higher quality pool of investable teams running businesses with regional and global market potential," said David Beatty, founder and managing partner of Gaingels LLC.
Founded in late 2014, Gaingels members have invested over US$3 million in nine portfolio companies.
Viet Nam needs a dynamic private sector of sustainable development. That dynamism must come from a strong foundation of innovative small and medium sized enterprises, said Eric Sidgwick, Viet Nam Country director, Asian Development Bank.
"The secret to startup success is innovation. Innovation and good managers, good mentors and sufficient access to finance," he added.
Previously, the angel investors spent two days in workshops with Ha Noi-based start-ups, sharing knowledge and improving presentation skills. They are visiting Viet Nam with the Mekong Angle Investors Network (MAIN), an international group of angel investors, on a two-week trip to Cambodia, Laos and Viet Nam.
Angel investors are high-net worth individuals who invest their time and money in early-stage companies. The high failure rate of high-growth, innovative businesses gives angel investments very high levels of risk. Angel investors typically invest for reasons that go beyond financial returns, including personal interest and the desire to meet and work with exceptional people. –– VNS