Three years after getting underway, StartupCity.vn, initiated by Hanoi authorities, has seen remarkable progress in attracting more than 300 parties and dozens of large investment funds, the Vietnam Blockchain Startup 2019 forum held in the capital on May 19 heard.

Many have found success since joining the project, but greater efforts will be needed in order to grow from a “startup city” to a “startup country”.

Mr. Nguyen Anh Tuan, Secretary of the Ho Chi Minh Communist Youth Union, said a larger ecosystem is needed to resolve issues surrounding mechanisms and the implementation and control of security relating to the operation of technology and tech startups, in particular mechanisms for those who wish to raise funds from the community (including financial and non-financial resources).

Mr. Tran Quang Hung, an advisor to StartupCity.vn, said that in addition to creating a favorable startup environment, promoting breakthrough technologies such as blockchain would be a positive step forward for the startup ecosystem. “Blockchain technology has been applied to industries such as transportation, technology, and retail,” he added. “Many large enterprises have captured this trend and applied this technology, including bank regulators and financial institutions in the US. In about three to five years, blockchain technology will be implemented in many other different fields.”

The StartupCity.vn portal was built with the aim of creating an online platform to connect startup business opportunities in a simple and systematic manner. The portal also serves as a useful tool for investors seeking investment opportunities in Vietnam.

Through StartupCity, startups can present their projects and call for investment while exploring new business opportunities and following technology trends and issues of concern.

The portal, which is automated and free of charge, has been developed under the guidance of experts from Israel, a country famed for its successful startup nation model.

Vietnam Blockchain Startup 2019 was organized by VCC Exchange, a digital asset trading platform, with the Hanoi Youth Union as co-host. It attracted more than 600 participants, including famous startups and international investment funds such as Signum Capital, Axiom Associates, Golden Gate Ventures, Bittrex, Kyber Network, Tomochain, SotaTek, Aelf, Sparrow Exchange, Infinity Blockchain Ventures, and Asia Blockchain Review.