Hanoi: Launching the online portal for start-ups

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Ngoc Thuy 10:36, 2017/10/11

On October 10, the Hanoi People’s Committee in collaboration with the Vietnam Prosperity JSC Bank (VP Bank) have launched the online portal for Hanoi start-up ecosystem at the website address: www.startupcity.vn and the startup co-working space UP@VPbank.

According to experts, Vietnam have all the required conditions to become a start-up nation with the golden population, young labor force, as well as high qualified human resources in information & technology (IT).

The Chairman of Hanoi People's Committee Nguyen Duc Chung gave a speech.

After 2016, Vietnam has witnessed significant progresses in the start-up community with the establishment of more than 100,000 enterprises. Some start-ups have successfully called for investment with the amount up to tens of millions of USD, while others have accessed to the world market. However, experts also said, Vietnam still lacked a complete start-up ecosystem, which is a prerequisite condition for start-up community to flourish.

On the other hand, the success of start-ups depends on their connections to local and foreign investors, as well as to look for partners, with a view to expand the market and improve business quickly. With this being said, the Hanoi People’s Committee has set up the online portal for start-up ecosystem under the website address: www.startupcity.vn to serve the purpose of efficiently connecting between startup ecosystem players. The operation of startupcity.vn will be an useful instrument for all components in the start-up ecosystem to look for investment opportunities in Vietnam. StartupCity is designed in a way that allows start-ups to promote their projects and call for investment. Through this portal, from angel investors to venture capital can explore new business opportunities, follow companies and new technological trends, as well as to connect directly with founders of start-ups.

The overview of the website.

Startupcity.vn can also support big corporations in Vietnam to connect with the start-up community. As such, they can easily promote their programs supporting start-ups, and propose cooperation programs to expand business, consulting and invest in strategy for the development of the innovation start-up community in Vietnam. The website is also seen as a public service of Hanoi, which directly contributes to the Hanoi start-up ecosystem and of other cities in Vietnam. Simple connection, convenience, transparency and diversified information are what the startupcity.vn aim for.

The foundation for website development has been laid in Hanoi with the support of Israel’s experts – a country is well-known for the successful of the model start-up nation. Speaking at the opening ceremony, the Chairman of Hanoi People’s Committee Nguyen Duc Chung said: “Startupcity.vn is an example for how the local government can contribute to the rapid development of the IT sector in the country. Startupcity.vn will attract international enterprises, and be a bridge to connect capital with start-up projects, creating new jobs, encouraging start-up ideas and improve the economic value for the ecosystem”.

Also at the opening ceremony, VPBank has officially introduced the project supporting start-up ecosystem named VPBank Startup, which is valued up to 1 million USD. As such, starting October 10, the co-working space UP@VPBank of the VPBank and UP Co-working Space jointly developed have officially been launched at the VPBank building (89 Lang Ha). General Director of VPBank Nguyen Duc Vinh said, this event will mark the presence of the first large scale co-working space in Vietnam, which is expected to bring start-up community opportunities to meet, work and connect in a professional working environment. From this foundation, it will create more added values in the start-up community in particular, and for the Vietnam’s economy in general. The cooperation between VPBank and Up Co-working Space is expected to have the maximum support and the springboard for the strong development and success of start-ups in Vietnam in general, and young start-ups with high potential in particular.

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