As many as 26,478 firms have been established in the first quarter of 2017, up 11.4% over the same period last year, showed data of the General Statistics Office (GSO). Startups in quarter one have total registered capital of 271.2 trillion (US$11.93 billion), up a staggering 45.8% compared to the year-earlier period. They have registered to hire a total of 291,500 employees, down 9.5% year-on-year. Meanwhile, in the January-March period, more than 9,270 firms that had earlier suspended business have resumed operation, falling 1.1% from the same period last year. Quarter one has seen year-on-year increases of 55% in startups and 31.1% in registered capital in the real estate sector. The respective rises are 28% and 79.7% recorded for education and training; 26.3% and 50.1% for finance, banking and insurance; and 15.8% and 21.9% for science-technology, consulting service, design and advertising. The power, water and gas generation and distribution sectors have seen an increase of … [Read more...] about Startups grow 11.4% in Q1
Startup
Investment in startups rises 46%
Investment in startups rises 46% Chi Thinh HCMC - Investments in startup projects in 2016 increased 46% to roughly US$205 million although the number of funded projects was 25% lower than in 2015, according to business incubator Topica Founder Institute (TFI). A report on startup investments issued by TFI shows that some US$205 million was invested in 50 startup projects last year. Of this figure, US$129 million went to startup enterprises active in the field of financial technology. Some 30% of the investments were funded at the beginning of the projects, while investments in the development stage of startups accounted for 40%. Acquisition deals attracted 14% of the investments while angel investors injected some 4% of the total investment. Some startup projects attracted huge funds in 2016, such as the F88 pawnshops invested with US$10 million by Mekong Capital, the educational app named GotIt! obtained US$9.1 million by Capricorn investment fund, the digital wallet project MoMo … [Read more...] about Investment in startups rises 46%
500 Startups announces mn Vietnam fund
500 Startups will invest a total of US$10 million in Vietnam’s startup ecosystem, the U.S.-based startup incubator announced on Tuesday. The latest regional round of micro-funding will earmark 100-150 investments in Vietnam-connected startups, including in teams addressing local market needs and groups that are tackling the overseas market, according to the announcement. The checks will typically be up to $100,000, but may be as high as $250,000. 500 Startups is the $100 million Silicon Valley venture capital fund best known for its incubator program for young companies. In addition to financing, portfolio companies get access to 500 Startups’ international network of 3,000 mentors and founders, $1.5 million of credits with partners like Amazon and Facebook, and other support to help them scale their business. The fund said it believes there are many interesting near-term investment opportunities in business-to-business and enterprise software-as-a-service (SAAS), … [Read more...] about 500 Startups announces mn Vietnam fund
Hanoi Party Committee Secretary encourages youth startups
The Hanoitimes - The National Assembly Deputies of Hanoi led by Secretary of Hanoi Party Committee Hoang Trung Hai has recently had a meeting with young voters at the Hanoi University of Economy, focusing on studying, employment and startup of the youth. Chairman of Hanoi People’s Committee Nguyen Duc Chung, Chairwoman of the Municipal People’s Council Nguyen Thi Bich Ngoc and President of the Fatherland Front Committee of Hanoi Vu Hong Khanh were present at the meeting with over 100 young voters. Secretary of Hanoi Party Committee Hoang Trung Hai and city leaders talk with young voters The voters expressed opinion to the National Assembly deputies, focusing on policies to encourage startup, building of cultural environment, housing for students, intellectual property protection, amendment of the Youth Law and the Capital Law, new points of national high school examination, and protection of children from abuse. The young people also voiced their concern over … [Read more...] about Hanoi Party Committee Secretary encourages youth startups
Startup, high-tech agriculture form new direction in Vietnam-Israel cooperation
(VOVworld) – The Vietnam-Israel Business Forum involving 300 enterprises of both countries took place in Hanoi on Tuesday as part of the ongoing visit to Vietnam by Israeli President Reuven Ruvi Rivlin. Addressing the event, Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc said Vietnam has targeted to double the number of businesses and become a startup nation by 2020. “Vietnam is attracting investment to agriculture. Startup and investment in agriculture are considered the breakthroughs in boosting the Vietnamese economy in the future. Israel is a model of success in these two areas,” Loc elaborated. Israeli President Reuven Ruvi Rivlin said Vietnam and Israel share many similarities, adding that leaders of both countries have agreed to create maximum conditions for enterprises and localities to promote trade, business, and investment cooperation. “The Vietnamese market economy is growing rapidly and I’m proud that trade between … [Read more...] about Startup, high-tech agriculture form new direction in Vietnam-Israel cooperation