Vietnam's innovative startup ecosystem and its development potential in Southeast Asia

After a decade of remarkable development, the Southeast Asian innovation and startup ecosystem has been highly appreciated by the global investment community. In particular, the Vietnamese startup ecosystem has received more attention due to its positive changes and rapid and stable growth rate.

In recent years, Southeast Asia has emerged as one of the most dynamic markets with a sustainable startup ecosystem. Currently, Southeast Asia has large unicorns such as: PatSnap (a Singaporean software development unicorn valued at over 1 billion USD; Tokopedia (Indonesia's first unicorn and received 1.3 billion USD in the first round of funding before the company's initial public offering); VNG (Vietnam's first unicorn operating in the following business segments: online games, payments, Zalo (video call) and VNG Cloud).

VNG – Vietnam's first unicorn

In particular, Singapore, Indonesia and Vietnam have formed a "golden triangle of startups" with rapid growth. In particular, Vietnam is considered a bright gem when it has risen to the top of the rankings with leading countries in the region such as Singapore and Indonesia in terms of startup investment activities. According to the 2021 report, Vietnamese startups have received a record high investment capital of 1.4 billion USD, 1.6 times higher than the figure of 874 million USD in 2019. In the first 4 months of 2022, the number of newly established enterprises increased by 12.3% compared to the same period in 2021. In terms of the startup ecosystem, Vietnam has nearly 100 active venture capital funds and about 3,000 innovative startups. 

Vietnam actively organizes many seminars to promote the development of the innovative startup ecosystem. 

The above figures show the positive growth rate as well as the development potential of the Vietnamese startup ecosystem. Currently, Vietnamese startups are gradually proving their position by taking advantage of the 4th industrial revolution as a launching pad for further development. Looking at the potential of the Vietnamese startup ecosystem, investors believe that our country will become an important driving force to promote the development of the Asian market in the next decade.

However, in the face of great development opportunities, the Vietnamese startup ecosystem also faces many difficulties. One of them is the difficulty that startups have in accessing capital. Most small and medium-sized startups cannot access formal loans from banks and can only access short-term loans. Identifying the problem, FundGo Innovative Startup Investment Fund has increased support for businesses to overcome financial concerns. With a committed investment capital of up to 150 million USD and a network of more than 30 domestic and foreign investment funds, FundGo is gradually promoting and expanding the innovative startup ecosystem, making it easier for businesses to access capital. One of FundGo's top goals is to support businesses to confidently start innovative startups, create more value and promote the development of the country's economy. Currently, FundGo has been connecting with businesses, becoming a financial launch pad and advisor from the earliest stages for businesses and startup projects.

FundGo Creative Startup Investment Fund commits to accompany startups in and outside the Mekong Delta region 

FundGo will continue to promote its role in promoting the sustainable development of Vietnam's innovative startup ecosystem. At the same time, the Fund will support individuals and innovative businesses to improve their competitiveness and further create development momentum for the Mekong Delta region in particular and the whole country in general.