HCM CITY — Two investment funds, IDGX and SSI Digital Ventures, in collaboration with the HCM City Institute for Development Studies (HIDS), have launched the BlockStar Incubation Programme to nurture startups leveraging blockchain technology.

The programme will incubate eight Web3 startups over a 10- week period, supporting them with product development, legal compliance and investor tie-ups.

SSI Digital Ventures seeks to invest US$ 200 million in digital asset technology initiatives, while IDGX specialises in backing startups in Web3, fintech, and AI.

The BlockStar programme is expected to play a key role in fostering a sustainable Web3 ecosystem in Việt Nam.

Dr. Trương Minh Huy Vũ, director of HIDS, noted that blockchain startups stand to benefit significantly from the proposed HCM City International Financial Centre and forthcoming supportive policies from the National Assembly.

He pointed out that the Ministry of Finance has asked the Government to recognise digital assets as legitimate digital technology products.

Trần Việt Đức, managing partner of IDGX, said: “We created BlockStar to serve as a launchpad for promising Web3 startups in Việt Nam – a platform where founding teams can access capital, international mentors, a supportive legal framework, and deep connections within the global ecosystem.

“This new generation of founders is not only building outstanding products but also laying the groundwork for a practical, long-term and sustainable Web3 landscape.”

Mai Huy Tuần, CEO of SSI Digital, said: “With $200 million in committed capital and a $500 million co-investment portfolio, SSID is proud to serve as a bridge between traditional capital markets and next-generation financial technology.

"We are committed to supporting startups from idea to market, helping them build MVPs [minimum viable products], validate market demand and connect with strategic investors.”

The BlockStar Incubation Programme provides startups with all-rounded support – from training in product development, go-to-market strategies, fundraising, legal, and tokenomics, to investor relations. Startups also gain access to a network of over 200 partners, including investment funds, exchanges, tech firms, and financial institutions.

Promising projects may receive investment commitments of up to $5 million to build MVPs and test their products in the market.

As part of the programme, the BlockStar Meetup brought together hundreds of founders, blockchain engineers, investors, and regulatory representatives, providing a platform for the Web3 community to exchange insights, forge collaborations and initiate breakthrough projects. — VNS