“Innovative startup ecosystem” in the 4.0 era

The trend of integration and technological development poses new problems for Vietnam in the process of "taking shortcuts and getting ahead" to improve productivity, quality and efficiency of the economy in the 4.0 industrial revolution. Digital transformation has brought new approaches to building and developing the innovative startup ecosystem.

The role of innovation in sustainable socio-economic development

The transition from the traditional economy to the digital economy has created a revolution that forces each business to adapt. From here, many innovative startups have emerged and the term “innovative startup ecosystem” has become a hot topic of interest nationwide. 

The innovative startup ecosystem is built from key pillars such as the government, startups, investors, scientists, traders, etc., connected and synchronized with each other by core resources such as ideas, technology, management operations, and financial capital. This is a foundation aimed at creating a favorable environment to promote and support the formation and development of businesses with the ability to grow rapidly based on the exploitation of intellectual property, technology, and new business models.

The innovation startup ecosystem opens up broader aspects when related to other factors such as culture, resources and connecting many creative factors. In recent decades, countries around the world have attached great importance to developing strategies, policies and measures to promote innovation. Therefore, innovation is also an important driving force contributing to the growth and socio-economic development of our country. In addition, innovation capacity, especially scientific and technological innovation capacity, is a decisive factor in national competitive advantage.

Key challenges fori startups

Many startups have applied advanced science and technology in their innovative startup projects thanks to capital from investors. However, the number of businesses and startups in need of capital is increasing while the ability to access funds and investors is still limited. In addition, many Vietnamese startups have successfully called for capital from foreign investors but have not yet found domestic resources for their innovative ideas.

Furthermore, many investors have the ability to invest in startups but do not have the capacity to evaluate projects. Most investors of the 6x and 7x generations follow traditional operating methods, so it is difficult for them to understand new business models as well as the potential of innovative ideas to make investment decisions.

Therefore, it is necessary to promote domestic investment attraction for start-up enterprises, in order to increase investment in large-scale innovation models with specialized characteristics of innovation, which are creating new products and services; improving existing products and services; improving production and business processes and chains; improving human resources and, more importantly, innovating thinking and business models. Only innovation can create new values, new ways of doing things and new efficiency, quickly approaching the development speed of the current 4.0 revolution.

FundGo – a driving force for the development of innovative startup ecosystem

In this context, investment funds need to increase resource support for innovative startups or small and medium-sized enterprises with innovative ideas, helping them better prepare when entering the market. With abundant resources, FundGo can realize the ideas of innovative startups through capital support, professional consulting and promoting cooperation with other businesses and partners. The Fund is gradually promoting and contributing to the expansion of the innovative startup ecosystem, making it easier for businesses to access capital. 

With a committed investment capital of up to 150 million USD and a network of more than 30 domestic and foreign investment funds, FundGo has become a financial launch pad and advisor from the earliest stages for businesses and start-up projects in the country. At the same time, the Fund is promoting support for the construction, formation and application of digital transformation in the fields of finance, technology, healthcare, education, cinema, sports, tourism, etc. Each project selected by FundGo undergoes a rigorous assessment process of ideas, management team, management plan as well as the growth potential of the project. In addition, the Fund aims to connect the research and development network, application, transfer and commercialization of scientific and technological products and inventions between research organizations and businesses, contributing to improving the quality of the innovation startup ecosystem in the digital age.

For businesses, this is not only an opportunity for them to find useful solutions to current problems but also a place for them to find the ability to cooperate with other entities in the innovation startup ecosystem. In the coming period, FundGo will continue to promote the role of promoting the connection of innovation startups, strengthening the connection and effective coordination between entities in the ecosystem.