Start-ups shows potential on Investment Day

Friday, Jul 12, 2019 12:17

CEO Ann Nguyen of VDES speaks at an Investment Day event on Thursday in HCM City. — VNS Photo Thu Ngan

More than 100 domestic and foreign investors as well as representatives from startups on Thursday participated in an Investment Day event organised by Viet Nam Innovative Startups Accelerator (VIISA) to celebrate the completion of the fifth batch of its four-month accelerator programme.

The batch 5 of accelerator programme consists startups from various sectors, including VDES, Loglag and SaveMoney, had a chance to present their projects and discuss their operations and achievements with investors.

At the event, investors and startups shared information and experiences about doing business and calling for investment.

Ann Nguyen, CEO of VDES, a startup that connects event venues and event suppliers to customers, said the company had attracted businesses with the support of investors.

The company works with many partners and 200 venues as well as 100 event organisers in big cities and provinces, including HCM City, Ha Noi and Binh Duong.

About 24,000 customers that used their services over the last two years have reduced costs by 30 per cent and time by 80 per cent.

Other projects startups include Loglag and SaveMoney.

By leveraging mobile connectivity, Loglag connects drivers and fleet owners to cargos and customers to make the logistics industry more accessible.

SaveMoney, meanwhile, is a full insurance service provider that combines innovative insurance platform technology with high-quality brokerage advisory.

VIISA said that startups are on a challenging journey, with capital playing a key role in the first phase. Because of these challenges, VIISA often organises events to help startups connect with investors and funds.

VIISA is an accelerator and seed stage fund that plans to invest a total of $4 million to build global-ready startups in Viet Nam.

It has also invested US$15,000 in cash and undisclosed amounts of in-kind services, including training, technical resources, office accommodations and access to mentors and investors. Promising teams will also get up to $200,000 from VIISA’s investment track.

The VIISA fund is operated by FPT, Dragon Capital Group and Hanwha Group. The fund has led to many startup successes in Viet Nam such as Wisepass, Wefit and TheBank. — VNS

Comments (0)