Vietnam is seizing investment opportunities in innovation and startups, as highlighted at the Vietnam Venture Summit held on October 30 by the National Innovation Centre (NIC) and Golden Gate Ventures. The summit served as a platform for industry leaders to discuss pressing issues related to innovation and startups, providing invaluable insights for guiding investment strategies in the vibrant Southeast Asian nation.
NIC Director, Vu Quoc Huy, emphasized that the summit’s discussion sessions delved into critical topics concerning innovation and startups in the region and Vietnam. The goal was to offer multi-faceted perspectives to inform investment decisions for startups in Vietnam.
Deputy Minister of Planning and Investment, Tran Duy Dong, underlined that Vietnam faces a multitude of challenges, but these challenges are accompanied by significant opportunities. To capitalize on these opportunities, a clear understanding of the challenges is crucial. This notion was aptly reflected in the summit’s chosen theme, “Innovating through Adversity: Strategies for a Transformative Vietnam.”
Delano Musafer, Head of Asia-Pacific Capital Markets at the New York Stock Exchange, noted that Vietnam has experienced rapid growth not only in Asia but also on the global stage. Quality companies with robust transformation strategies and impressive growth rates have garnered substantial attention from investors. This burgeoning interest in Vietnam signifies a positive trend, as it outlines a clear strategy for both domestic and foreign markets.
The Vietnamese innovation and startup ecosystem is on the ascent and has been recognized for its remarkable progress. According to the 2023 Global Innovation Index, Vietnam currently ranks 46th out of 132 countries and economies. Impressively, it is one of only three countries that have consistently achieved innovation results exceeding their level of development for 13 consecutive years.
Vietnam’s startup ecosystem has surged from fifth to third place among the top six economies in Southeast Asia. This remarkable ascent is evident in the increased capital inflow into the innovation startup market, as well as the growing number of investors and investment funds operating within the country.
In the first half of this year, the technology sector in Vietnam retained its position as the third-highest recipient of investment in Southeast Asia, attracting a total capital inflow of $413 million.
The Vietnam Venture Summit stands as a testament to Vietnam’s commitment to fostering innovation and entrepreneurship, setting the stage for further growth and development in the country’s vibrant startup ecosystem.
