FundGo Startup & Innovation Fund Is Established to Support Startups

March 8, 2022, Investment Fund creative start-up FUNDGO (abbreviated as FUNDGO) has been officially established. This is the first fund of Can Tho City as well as the Mekong Delta formed with the purpose of supporting, sponsoring and investing in start-up businesses.

With the mission of nurturing and investing in startups and small and medium-sized enterprises with high innovation and creativity, FUNDGO will diversify its investment portfolio into business models of food chains, agricultural production, healthcare, education technology, financial technology, medical technology, media technology and marketing. In particular, the Fund always encourages businesses with good technology orientation such as applications on mobile platforms, the Internet or potential agricultural technology applications in the Vietnamese market and countries with similar conditions.

In addition, FUNDGO also has preferential mechanisms for supporting enterprises or enterprises belonging to the city's key economic sectors, enterprises applying high technology in production, practical inventions with high commercialization potential, etc. initiated by scientists, lecturers, students, and alumni of universities in Can Tho City. Thereby, FUNDGO's mechanisms and vision are of great significance for the development of Can Tho City.

Launch Ceremony Investment fund FUNDGO creative startup took place at 4:00 p.m. on March 21, 2022, with the presence of more than 100 delegates who are leaders of departments and branches such as Mr. Nguyen Trung Nhan (Chairman of the Vietnam Fatherland Front Committee of Can Tho City), Mr. Huynh Hoang Men (Director of the Department of Information and Communications of Can Tho City), Ms. Lu Thi Ngoc Anh (Secretary of the Can Tho City Youth Union), representatives of university leaders such as Mr. Tran Thanh Danh - Vice Principal of FPT University Can Tho, along with accompanying units, businesses, individuals and press and radio agencies interested in startup activities. In addition, the program was also broadcast live on the Facebook platform, attracting more than 11,000 views and nearly 7,000 likes and online interactions.

The event includes three main contents: the FUNDGO Fund launch program, the signing ceremony between relevant parties and the book launch announcement ceremony of the book project "Digital Asset Investment: From Roots to Success".

Sharing about the reason for the establishment and the goal of FUNDGO, at the event, Mr. Dinh Tuan Kiet - Chairman of the Fund, Chairman of the Young Entrepreneurs Association of Can Tho City also affirmed: "With the decision to establish and the commitments on resources and capital, FUNDGO hopes to become a lever, promoting the creativity of the startup business community. The Fund will help young businesses develop faster and stronger, thereby contributing to the overall development of Can Tho City".

Mr. Nguyen Ngoc Dung – Chairman of Vietnam E-commerce Association (VECOM) expressed his joy at the establishment of FUNDGO. He also hoped that in the near future, Tay Do will become the “technology capital” of the Mekong Delta, not inferior to Ho Chi Minh City and Hanoi.

Mr. Dung emphasized: “Vietnam E-commerce Association will coordinate with the Women's Union, City Youth Union, state management agencies and business communities to make Can Tho develop more strongly in the coming time.”

The event continued with the signing ceremony of the youth startup support program between FUNDGO and Can Tho City Youth Union, aiming to implement community activities, support young people with good startup orientation and initiatives for the city.

At the same time, in the program, FUNDGO also signed investment contracts with 7 innovative startups, namely HanaGold Gold and Gemstone Joint Stock Company, Phu Sa Biochemistry Company Limited, Samaki Power Joint Stock Company, Bitback project, Bami Pawn Shop project and Hesman project.

The final part of the event was the program of signing cooperation and announcing the launch of the book project "Investing in digital assets: From roots to success" between 4 parties including Vietnam E-commerce Association (VECOM), Digital Transformation Alliance (DTS), ONUS Technology Joint Stock Company and IM Group Digital Transformation Academy with the presence of leaders of TRUSTpay Joint Stock Company. Representatives of the units also had a short discussion on the achievements in digital transformation in Vietnam as well as the potential of digital assets.

By the end of 2021, there are about 628 businesses operating in the field of digital technology in Can Tho City, increasing the overall local revenue...

Thanks to its extensive credit relationship network and strong potential from its partners, FUNDGO has many advantages in supporting young businesses to access investment opportunities. Hopefully, in the future, FUNDGO will become an incubator for startups, helping companies have better orientations and contributing to the sustainable development of Can Tho City.

Tan Nguyen