Vietnamese startups attract foreign investors

by VTV420 May 2016 Last updated at 17:35 PM - In late 2015 and early this year, the Vietnamese startup community has become more dynamic as a series of foreign investment funds begins to take interest and invest in Vietnamese startups.

So to those funds, what is the know-how and specific strengths of Vietnamese startups?

One Vietnamese startup phenomenon.

Then two, three, then many more…

The number of investment deals in Vietnamese startups last year doubled compared with the year before.

Earlier this year, a US Silicon Valley-based investment fund called “500 Startups” decided to invest 10 million USD into the Vietnamese market.

And Beeketing, with an average growth rate of 30% per month, was one of 500 Startups first investment choices.

However, according to the CEO of Beeketing, they had some difficulties at first.

Truong Manh Quan, Director of Beeketing said: "When I first contacted the foreign investor, they refused to even talk to us. But we were consistent and tried to update our company development every three months. After nine months, we were officially approved".

With the golden population structure, the proportion of Internet users and mobile devices has significantly increased. Vietnamese startups have a strong foundation from which to step out into the world.

Eddie Thai, Representative of 500 Startups in Vietnam said: “In the next few years, 500 Startups is likely to invest from 10 to 100 million US dollars in Vietnamese startups. In the recent past, Sundar Pichai of Google and Steve Wozniak of Apple came to Vietnam, and soon will be the visit of President Barack Obama. These events are very meaningful to Vietnamese startups”.

Hajime Hotta is an investor from Singapore who has invested in six startups in Vietnam. He believes that the technical and programming level in Vietnam are able to compete with many countries in the world.

Hajime Hotta, Investor said: “I strongly believe that the genius who creates an artificial brain or a new chemical technology may come from Vietnam. This is a promising land for startups in the world”.

Many investors shared the belief that once reputable foreign funds set foot in Vietnam in the near future, the average value of Vietnamese startups will start to soar.


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