By Anh Minh  April 16, 2018 | 03:00 pm GMT+7 FinTech (financial technologies) are technological innovations created to support or enable banking and financial services such as AI-powered trading. Photo by Reuters Widespread smartphone usage, increased consumer spending and a low unemployment rate have spurred investment. Vietnamese startups have invested $129 million into financial technologies, with investors saying the country has high potential for tech development, a conference in Hanoi heard last week. Vietnam is one of the best markets for financial technologies given its widespread smartphone usage, increased consumer spending and low unemployment rate, Varun Mittal, Ernst & Young's ASEAN FinTech head, said at the conference. FinTech (financial technologies) are technological innovations created to support or enable banking and financial services such as AI-powered trading. “Foreign investors are interested in and even willing to … [Read more...] about Vietnamese startups pour $129 million into financial tech
Startup
2,000 female entrepreneurs to receive startup support
The grant is awarded to women, especially ethnic minority, disadvantaged and disabled people. The program will also provide consulting services to 4,000 new startups founded by women; 15 cooperation units and 10 cooperatives that will be managed by women. The projetc aims to raise women's role in the economic development and help them implement their creativity, start and grow their businesses. The municipal goverment has asked the Department of Science & Technology, the Department of Planning and Investment, the Department of Labor, War Invalids and Social Affairs and the city Women's Union to coordinate to study policies supporting women-led businesses. By KIEU PHONG - Translated by Kim Khanh Tags: emale entrepreneurs startup support new startups founded by women women-led businesses … [Read more...] about 2,000 female entrepreneurs to receive startup support
PM calls for IFC’s support for startups
During a reception for visiting Vice President of IFC for Asia and Pacific Snezana Stoiljkovic in Hanoi on April 11, PM Phuc suggested IFC and other international organisations invest in renewable energy, that Vietnam has great potential. He hoped IFC would cooperate with some Vietnamese financial institutions, and support Vietnam in improving its financial management capacity. Prime Minister Nguyen Xuan Phuc (R) and Vice President of International Finance Corporation for Asia and Pacific Snezana Stoiljkovic For her part, Stoiljkovic congratulated the Vietnamese Government on its effective economic management in recent times, which contributed to the stable economic growth. This is an important basis for IFC to continue cooperating with Vietnam in the coming time. She said 2017 is a successful year for IFC’s activities in Vietnam, especially in supporting the private economic sector. IFC wants to work with and assist Vietnam in developing new fields, thus … [Read more...] about PM calls for IFC’s support for startups
Centers on supporting startup students to be opened nationwide
Accordingly, at least 10 support centers for startup students will be built around the country from now until 2025. One of the notable parts in the project is that the education authorities are going to organize various conferences, workshops, forums, as well as exchanges where new ideas and projects of students are presented to domestic and international investors. Other activities include hosting a series of events nationally for interested startup students, forming a group of professional consultants to aid students on site in their own educational institutes. The MOET’s project also suggests creating a supportive environment for any student who wishes to begin the startup activity. This could mean establishing startup clubs suitable for the training fields of each educational institute. In the period from 2018 to 2020, the establishment of three pilot support centers in three recommended locations will begin. In the next period from 2021-2025, there will be at least … [Read more...] about Centers on supporting startup students to be opened nationwide
Boost for new startups
The Ba Ria – Vung Tau People’s Committee and Startup Viet Nam Foundation have signed an agreement to support startups in the region. – Photo baria-vungtau.gov.vn The Vung Tau Province People’s Committee is working with the non-profit Startup Viet Nam Foundation (SVF) to support new business and boost economic growth in the province. During a conference on startups attended by officials and businesses late last week, the two parties signed an agreement to promote financial aid and other investment channels, and to enhance networking between investors and customers. The People’s Committee and SVF plan to devote resources to counselling and managerial training programmes, and build a network of investors to aid startups. Nguyen Thanh Long, deputy chairman of the committee, said the province was already seeing numerous ambitious and innovative start-ups. He asked departments, organisations and businesses to keep track of startup needs and assist them as much … [Read more...] about Boost for new startups