Startup program for the period 2022-2025 in Vietnam

DNHN - Indeed, Vietnam's startup scene is a popular destination for venture capitalists. Education, healthcare, financial technology, gaming, and e-commerce are all areas that draw significant money.

The launch of the start-up model for the period 2022-2025 and the commencement of the start-up program in 2022 took place in Hanoi on March 31, 2022. The startup approach was inspired by Sun* Entrepreneurs, a Sun Asterisk Vietnam (Sun*) subsidiary that operates as an "incubator" ecosystem, pooling resources to help information technology startups in Vietnam.

According to the Ministry of Science and Technology's Department of Market Development and Science and Technology Enterprises, Vietnamese startups would get more than 1.35 billion USD in venture capital in 2021. Education, healthcare, financial technology, gaming, and e-commerce are all areas that draw significant money. 

There are now over 208 active venture capital funds in Vietnam, including roughly 40 local investment firms. 

The Vietnamese startup community has benefited from several resources provided by the startup ecosystem, including finance, and open legal corridor, numerous incubators, and constant community experience sharing. 

These resources, however, are insufficient for firms that use information technology. 

They need players who are actively engaged in the product development process, such as the appropriate programmers, product designers or managers, and technological advisers, among others. 

This deficiency increases the likelihood of failure, or the firm will spend considerable time being "vicious," missing a breakthrough when entering the market. 

Meanwhile, Vietnam continues to lack an initialization model capable of addressing these shortcomings. 

Recognizing this challenge, Sun* Startups has been trying the Information Technology Application Startup model at the pre-seed and seed stages since 2018, with the assurance of public advisor resources. 

This strategy has been effective because of Sunpotential *'s - an information technology company with approximately 1,000 technology engineers in Vietnam and Japan and a strong, adaptable R&D staff. 

Additionally, it adapts to emerging technologies such as Web3 and Blockchain.

Sun* has collaborated with over 300 entrepreneurs in both countries. 

Tran Anh