Start-ups work to fund their projects

by P.V09 May 2016 Last updated at 15:04 PM

VTV.vn - The success of a start-up project depends greatly on financial resources. However, persuading investors to fund a project is no easy task, especially for young business owners.

Unlike many start-up brands that failed, this start-up company just won 1.7 billion US dollars worth of capital. Toong Coworking Space was established in September 2015, and received 300,000 US dollars just 1 month later. The project then received 1 million more US dollars from a foreign enterprise. 

"We have to prepare ourselves to convince investors that we are capable of actualising our ideas", said Do Son Duong, Co-founder, CEO of Toong Coworking Space.

According to young startup owners, one of the most important factors when looking for capital is practicality. The investors also need to be passionate about the idea and knowledgeable about the market.

"We are lucky to have angel investors who provided us with resources to start our business. But it is really hard to find angel investors. It took me 4 months and dozens of meetings with investors", said Ma Hoang Hai, an owner of startup company.

Many investors advised that startup companies carefully consider who they ask for financial support by looking into the nature of their current investments.

"Introducing a traditional food service project to investors who are known to only invest in IT projects will surely fail. Investors like us also pay attention to the transparency of start-up projects. Start-ups should remember that", said Csaba Bundik, Strategy Consultant of Hatch Ventures.

Vietnamese startups are entering a new era, branching out into the world and achieving new things. Their biggest problem now is financing their ideas. An investor once said that finding capital for start-up projects is like painting a picture. It's much easier if the painter is experienced.

Top VND Exchange Rates

Auto-refesh 15m




Mid-market rates: 2023-05-29 23:41 UTC