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Vietnam Today

Startup investment remains largely scattered

Released at: 17:12, 26/04/2018

Startup investment remains largely scattered

Photo: Hai Van

Start-up Forum 2018 hears of ongoing issues facing the startup community.

by Hai Van

Every dollar invested in startups can create hundreds of dollars for society, Dr. Vu Tien Loc, Chairman of the Vietnam Chamber and Commerce of Industry (VCCI), told the Start-up Forum 2018 on April 24 in Hanoi.

He added there are also about 50 investment funds with many forms of investment for startups but they are scattered and of small scale. The capital scale at startups is limited because of the nature of the industry. Dr. Loc firmly believes that part of the spirit of starting a business is accepting differences. In a VCCI study of about 60 economies, Vietnam was among the 20 at the cutting-edge when it comes to startups.

“We talk a lot about angel investment funds and venture capital funds, but we must deepen our research into these funds,” he said. “At the same time, the government should introduce incentives for these funds, so that startup capital is always available. However, in terms of realizing an idea for starting a business and putting the right business model into practice, Vietnam is in the 20 least-developed economies.”

He also said that large enterprises could create an ecosystem for startups and provide funding. “They have a lot of capital and startup support is one of the biggest community development goals,” he told the gathering.

The Permanent Secretariat of the National Start-up Program (Enternews), the Institute for Enterprise Development Research, and a number of enterprises have signed cooperation deals for startups in 2018-2020.

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