Việt Nam has attracted US$529 million in venture capital from investors into the country''s young start-up ecosystem in 2024, despite challenges in the market.
Việt Nam has emerged as a key player in the development of Generative AI (GenAI), securing the second position in ASEAN for the dynamism and growth of its GenAI start-ups, according to the ASEAN GenAI Start-up Report 2024.
Many young start-ups have exploited folk culture to develop their businesses. Tradition silk and linen clothes are very popular. Designers have d their trademarks not only in Việt Nam but also by exporting them to other countries.
The development of a separate decree on innovation and innovative start-ups is underway with an aim to leverage innovative start-up firms to a new height.
Supportive policies under the National Assembly’s Resolution 98 that took effect in August last year, if implemented well, will promote the start-up ecosystem in HCM City to develop even more strongly, experts said.
Currently, the management on innovative start-ups is integrated into the Law on supporting small and medium – sized enterprises while the purposes of innovative start-ups and SMEs are not the same.
Under the GIA programme, Singapore-based tech start-ups are able to ease their market entry through workshops, mentorships and connections with potential clients and partners.
Efforts had been made by the Global Startup Immigration Centre and the Việt Nam Innovation Network in Korea in building a working space and a destination for innovative startup projects and investors not only from Korea but from global partners...
Improving the start-up ecosystem became necessary for Việt Nam, in which centres for innovation and entrepreneurship would play the core role in raising, exploiting, linking and optimizing resources from both the domestic market and abroad.
The parties agreed to work together to promote startup activities in the field of climate change through the use of startup resources, exploiting technology, to thereby minimising climate change and increasing economic growth with clean energy sources.