05:37 (GMT +7) - Friday 13/12/2019

Business

NextTech to partner with Shark Tank Vietnam

Released at: 15:45, 29/08/2019

NextTech to partner with Shark Tank Vietnam

Photo: Ngoc Lan

Next100 fund to assist startups that were unsuccessful on TV show.

by Ngoc Lan

The NextTech Group unveiled a strategic partnership with TV show Shark Tank Vietnam Season 3 to launch “The Second Chance”, a program to help startups who were not successful in calling for investment, through training programs and mentorships.

NextTech’s Next100 fund will provide training programs and mentorships for up to 100 tech startups, with founders being trained and supported to avoid the risk of failure and thrive in the shortest possible time and at optimal cost.

Mr. Nguyen Hoa Binh, Founder and Chairman of NextTech, has also officially joined Shark Tank Season 3, where he will seek investment opportunities for Next100.

With this new cooperation with Shark Tank Vietnam, Mr. Binh wishes to provide a second opportunity for startups who were unsuccessful on the TV show. “The company wishes to provide resources and contribute to Vietnam’s startup ecosystem, boosting its competitiveness in the region,” he said. “We emphasize the need to support startups in the early stage, so we position ourselves as a ‘soul mate’ to help these startup founders achieve their targets.”

NextTech estimates that Vietnam has about 1,000 tech startup projects every year, but nearly 92 per cent fail in the first three years, mostly because they cannot find suitable markets or a proper support ecosystem.

Being a pioneer in tech startups in Vietnam since 2001, NextTech has an ecosystem of nearly 20 companies in Vietnam, China, and eight Southeast Asian countries, covering e-commerce, fintech, logistics, and edtech.

It recently launched Next100, a $10 million early-stage startup fund with a hybrid model combining a Venture Builder, an Ecosystem, and Venture Capital - the first of its kind in Vietnam. Its goal is to cooperate with entrepreneurs to identify a long-term, sustainable growth formula for startups, laying the foundation for 100 tech entrepreneurs to succeed in Vietnam and elsewhere in Southeast Asia using NextTech resources.

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