Similar to startup enterprises, domestic online booking application Vntrip.vn, despite suffering huge losses in the past two years, has been receiving a large number of investments. Vntrip.vn has repeatedly received investment from foreign investors. Source: zing.vn In the past two years, Vntrip.vn recorded accumulated losses of VND100 million ($4,424), while its charter capital as of the end of 2017 was VND137 million ($6,061). However, this may not be important as the firm has been constantly receiving foreign investment. The booking application has just announced successfully calling for investment from Swiss-based real estate firm IHAG Holding. While the value of the investment was not disclosed, the Swiss investor assessed the firm’s value at $44.2 million. Previously, Vntrip.vn also received investment from two foreign investors. Accordingly, Hong Kong-based Hendale Capital poured $10 million into the domestic firm. In 2016, when the business was started, … [Read more...] about Online booking firm Vntrip.vn repeats story of e commerce startups
Startups
Visa gives local startups a boost
The award winners and their Visa’s Everywhere Initiative trophies Visa’s Everywhere Initiative (VEI) is a global innovation programme in which Visa tasks up-and-coming businesses with solving some of the most challenging issues in payments and commerce. Visa has received many submissions since the programme kicked off in May this year. Last week, nine of Vietnam’s most innovative startups gathered at The Dreamplex in Ho Chi Minh City for the grand finale of the competition. The finalists represented a truly diverse cross section of Vietnam’s business scene and included everything from recruiting services and online marketplaces to food delivery. Sean Preston, country manager for Visa Vietnam and Laos, told VIR that the participants are comprised of fintech companies, startups, entrepreneurs, and small businesses. Each of them has unique ideas to bring together different elements of technology as well as business processes to create products and services which … [Read more...] about Visa gives local startups a boost
Vietnam Startup Wheel 2018 honors 10 most excellent startup projects
The Vietnam Startup Wheel was organized by the the Business Startup Support Center (BSSC), the HCMC Department of Science and Technology, and the HCMC Young Businesspeople Association. The orgniazation board received more than 1,500 startup projects submitting preliminary rounds nationwide. Meete, an application creating connections for offline enterprises won the first prize in the category of startup business founders. CleverTube, a smart English learning application took the highest prize in the category of individuals/groups. The organizers also selected other 8 projects for investment and supporting, and awarded minor titles, such as Most Excellent Start-up Student, Most Favorite Project, Project With Best Performance. Winners will be granted 100% free enterprise registration certificate in HCM City and have a chance to enjoy preferential policies. By LE DUY - Translated by Kim Khanh Tags: Vietnam Startup Wheel 2018 excellent startup projects … [Read more...] about Vietnam Startup Wheel 2018 honors 10 most excellent startup projects
Vietnam lacking good startup ecosystem to attract capital
Vietnam lacking good startup ecosystem to attract capitalBy Thuy Dung Minh Quyen (R), founder of Startup Talk Café100% English, shakes hand with his investor in a TV show program called Shark Tank, which is designed for young startups calling capital. Vietnam is lacking good startup ecosystem to attract capital - PHOTO: SHARK TANK HANOI - Though Vietnam is considered to offer a strong potential for investments in startups, domestic investors are inexperienced in startup evaluation and foreign investors are discouraged by the complex legal environment, according to an expert. On the sidelines of an August 24 workshop on financial support for startups, Jouko Ahvenainen, founder and executive chairman of Grow Vc Group, said that one of the problems concerning the attraction of capital for Vietnamese startups is that domestic investors have money, but are not experienced enough to identify good startups, to understand how they are operating and how to assist these businesses. … [Read more...] about Vietnam lacking good startup ecosystem to attract capital
Vietnam Startup Day 2018 opens in HCM City
The event, co-organised by the Business Start-up Support Centre (BSSC) and the HCM City Young Businesspeople Association, was also attended by investors, investment funds, entrepreneurs, and other stakeholders This year’s event featured a range of diverse activities including a presentation on support policies for start-ups, an exhibition of innovative products, and seminars on seeking primary funding, connecting business partners and human resources for start-ups. The CEO of BSSC, Truong Ly Hoang Phi, said one of the most anticipated events of the year was the Vietnam Startup Wheel 2018 Contest, which has been annually held for the past six years, and is open to start-ups which have been in business for fewer than five years. The highlight of the Vietnam Startup Wheel 2018 competition is that there is no age limit for contestants and it is open to scientific researchers who have commercialized products to create a ‘revolution’ in their particular … [Read more...] about Vietnam Startup Day 2018 opens in HCM City