Startups in Vietnam have great potential to grow, however, the community also faces a number of challenges. Most local startups are small in scale, at seed stage, have limited ability to make a breakthrough, and are in need of further incubation. Some of the prominent challenges currently faced by startups in Vietnam are:
Ability to access finance: In 2016, the major financial sources of domestic investors came from three major venture capital firms: IDG Ventures Vietnam, Cyber Agent, and DFJ VinaCapital. Altogether, they invested over US$120 million in funding and consulting for several brands.
However, it is hard to convince local investors to take risks and invest in early-stage startups. More often than not, those startups have to bootstrap at the beginning. While early-stage startups may rely heavily on funding from angel investors, this type of investor is new to the scene and has not had much impact in the community to date Tiếp tục đọc “Challenges facing Vietnam’s innovation ecosystem”