The number of startups registered in Vietnam had amounted to 18,000 units as of April last year, with generous support from the Government, provinces and cities. However, the number of startups that survived initial difficulties has remained extremely low, heard a review meeting on startups in the digital era, held on October 16 in HCMC.

A representative of the HCMC Computer Association (1st, L) and other entrepreneurs share opportunities to develop manpower with participants 

The HCMC Computer Association (HCA) held the review meeting to wrap up a community program, themed “Innovative Startups in the Digital Era,” in collaboration with 10 colleges and universities in the city.

According to startup incubators and accelerators, up to 80% of startups cannot survive longer than two years and a mere 3% achieve successful operations. Most of the local startups are in need of guidance from experienced people as well as supporting funds so as to accelerate their business and launch products in the market.

Addressing the event, Vu Anh Tuan, general secretary of HCA and vice chairman of the HCMC ICT startup management board, said there are currently 30 startup incubators and 10 accelerators in the city. Meanwhile, the number of angel investors, who provide funding for small startups or entrepreneurs, is likely on the rise, which is expected to pave the way for developing the startup ecosystem in the country.

The HCMC ICT’s startup ecosystem continues to accompany and support startups in many fields, particularly in the information technology (IT) sector, helping them to conduct research and introduce innovations to the market. Besides this, local startups also receive support to seek training opportunities, investors and consulting experts.

The community program took place from September to October at the universities of Nguyen Tat Thanh, Ton Duc Thang, Hoa Sen and Van Lang, attracting the participation of nearly 6,000 students, 50 IT enterprises and over 30 IT speakers from Vietnam and abroad.

The program was co-held by Saigon Innovation Hub, under the direction and sponsorship of the municipal Department of Science and Technology, along with the HCMC ICT startup management board, with the aim of sharing information on startups and new technology trends.

SGT