Less than 5 percent of start-ups have access to angelic capital in Vietnam

It’s the fact that the startup is more and more dynamic and enthusiastic movement in Vietnam; however, the investment capital from angel investors only accounts for less than 5% of the total capital for start-up in Southeast Asia. This was pointed out and discussed at the international conference: "Attracting foreign angel investment in developing Startups in the host country: International experience and functions ideas for Vietnam ”, which was held on December 11th at the UEB.

The conference was organized in the framework of project: "Attracting foreign investors (angel business) to develop startup in the host country: International experience and implications for Vietnam, code QG .18, chaired by Assoc.Prof.Dr. Nguyen Thi Kim Anh.

Attending the conference, there were Mr. Truong Ba Tuan - Deputy Director of the Institute of Financial Strategy and Policy, Ministry of Finance; Mr. Bobby Liu - Senior Director of Topica Edtech Group; Dr. Vu Van Tinh - Lawyer , Director of LT and Associates Law Firm (LTP Company); Mr. Le Quang - Representative of Ecotruck Company; Mr. Nguyen Khoi - CEO of Wefit.

 
Assoc.Prof.Dr. Nguyen Anh Thu speaks at the conference

From UEB, there were Assoc.Prof.Dr. Nguyen Anh Thu - Vice Rector; Assoc.Prof. Dr. Nguyen Thi Kim Anh - Lecturer in the Economics and International Business Faculty and Associate Prof. Dr. Nguyen Viet Khoi - Associate Dean of Economics and International Business Faculty.

 
Assoc.Prof. Dr. Nguyen Thi Kim Anh - Lecturer of Economics and International Business Faculty  chairs the conference

Opening remarks at the conference, Assoc Prof. Dr. Nguyen Anh Thu pointed out that, the number of start-up enterprises has increased significantly and contributed positively to promoting the spirit of creation, innovating technology, creating jobs and economic growth for the home country from 2015 to present. Investment capital, including angel investment, has been one of the indispensable elements of the entrepreneurial ecosystem. Angel investors, especially foreign angel investors, not only provide finance but also consult, share knowledge, experience and business networks. However, the development of creative entrepreneurship and angel investment in Vietnam is still modest when the investment capital for startup in Vietnam only accounts for less than 5% of the total investment capital in Southeast Asia. In order to arouse and exploit the potential of angel creation and start-up investment, Vietnam need to build strong policies and measures to improve the business environment, develop and perfect the entrepreneurial ecosystem to bring angel investors to Vietnam's potential start-up market. Therefore, learning experiences from countries around the world, especially countries which was successful in attracting foreign angel investment capital for start-up development is very necessary for Vietnam.

After the speech of Assoc.Prof.Dr. Nguyen Anh Thu, speakers presented their reports with many different perspectives, showing an overview of attracting angel investment for startup development at international countries and implications for Vietnam. 
 
 


The first presentation was Dr Vu Van Tinh, pointed out the legal framework for investment in start-up in Vietnam. He emphasized the fact and role of the state in regulating and supporting angel investment for start-up development in Vietnam. Next, Mr. Bobby Liu - Senior Director of Topica Edtech Group - gave some of the achievements that the investment ecosystem in Vietnam could achieve in the future. First of all, he stressed the importance of the university network system, the lecturers as well as advisers who could provide a solid knowledge base for startups, then he talked about the role of state in encouraging business angels to invest in start-up businesses. At the end of his presentation, he said: Danang City would become a startup nursery in the future.

 

Following the program, Mr. Pham Tuan Hiep once again emphasized the influence of the university network on entrepreneurship ecosystems in international countries in general and in Vietnam in particular.

Finally, the foreign business angels of Ecotruck and Wefit, which were two startups that had achieved significant achievements in the Vietnamese market, shared the experience of attracting angel investment. Mr. Le Quang and Mr Nguyen Khoi were representatives of Ecotruck and Wefit who were one of 30 typical faces of Forbes Vietnam list Under 30 in 2018. Representatives of two startups shared advantages as well as challenges encountered in the process of operating the company and attracting investment from various sources. The presentation provided a realistic look at the conference, and especially transmitted the entrepreneurial spirit to UEB’s students, promising a potential future for young entrepreneurs.

 
At the end of the conference, Assoc.Prof.Dr. Nguyen Thi Kim Anh and Assoc.Prof.Dr. Nguyen Viet Khoi summarized the content and would like to thank the speakers for their valuable time to contribute quality essays. Hopefully, the following conferences would continue to receive the participation of domestic and foreign speakers.
 
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Tu Uyen

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