Start-ups in Vietnam - an exciting opportunity?
Free Research Paper
The Start-Up in Vietnam has come to life over the last few years, with a rapid growth over the last few years. But does Vietnam really offer an exciting strategic opportunity for start-ups? It seems it does. For instance, in 2019 Vietnam raised to 59th place for best Start-up ecosystem as per StartupBlink. With Hanoi and HCMC Vietnam also had two cities in the top 250 cities around the world.
Furthermore in 2019 Vietnam received the second highest investment for Tech Start Ups in the ASEAN region with the second highest investment for Tech Start Ups.
The strong Start-Up development in the country could be linked to a few key areas:
- A young population (60% of Vietnamese are below the age of 35)
- Support of the government with tax incentives
- Increase of technology based subjects at University
- Strong Internet usage throughout the country
- Programmes by the government and corporation to support start-up.
As a result of all these initiatives, Vietnam wants to have 10 Unicorns by 2030.
Start-ups on the rise
The signs are encouraging, especially with the development within E-Commerce and FinTech. Here are some stats to highlight this:
- Continuous increase of investment in start ups
- Investment in tech start-ups increased by 700% between 2017 and 2019
- 32 payment licenses provided by the Government
- Revenue of e-commerce has doubled since 2018
- E-commerce now accounting of over 8% of total retail sales
And it shows that Vietnamese take the chances with Start-ups and foreign investors showing an interest in investing in Vietnam. And both might lead to a continuously growth in Vietnam.
Paper about Vietnam’s Start-up scene
In October RSP International co-hosted the first ever event of Start It Up Vietnam in HCMC, and as part of the event we did some research about the Start-Up scene in Vietnam. We have summarised all findings of this secondary research in one paper, which we offer now for free. You can download this report below.
In that paper the following areas are covered:
- A summary of the Start-Up scene
- An overview of Fintech and E-commerce
- Potential strategic opportunities for new start-ups and investors
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