VIETNAM STARTUP ECOSYSTEMCong-Thang HUYNH
Co Founder/ CEO Innolab Asia
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INTRODUCTION
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• Co-Founder & CEO at InnoLab Asia
• Mentor at Start-Up Chile
• International Adviser at Orphans' Futures
Alliance Vietnam (ORFA)
• Founder at Lead The Change
Cong - Thang HUYNHEntrepreneur/ Advisor/ Mentor
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Source: CEIC Data (2019)
Population – 97 million people (2019)
Internet users – 66% of population
Gross national income – 617.51 billion PPP dollars (2018)
GNI per capita – 6,460 PPP dollars (2018)
Gross domestic product – 223.78 billion USD
GDP growth rate – 7.02% annual change
GDP per capita – 2,715 USD
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Cultural Traits
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Two different markets
Source: GSO, World Bank6
DEVELOPMENT OF THE STARTUP ECOSYSTEM
Gen #1: 2000 – 2006- Started with straight-forwardbusiness models;- Those who gained traffic anduser become leading players intheir respective sectors,- Once their core businessesreached sufficient scale, theyexpand to new digital sectors,- No Ecosystem, mostly in Hanoi.Gen #2: 2007 – 2014- Started in a more competitiveenvironment,- Founders are from Gen #1 andnotable Tech Corps,- Mostly game & app, and “metoo”startups,- Limited Ecosystem.
Source: Cento Vietnam Tech Investment Report 2019 7
DEVELOPMENT OF THE STARTUP ECOSYSTEM
Gen #3: 2015 onwards- Increasing competition fromregional and internationalstartups,- Very niche market or regionalmindset from early day,- Emphasis on building a robustcore technology as a competitiveadvantage,- Diverse background, with aninflux of foreign-born ethnically-Vietnamese People returning tothe country,- Thriving Ecosystem,
Source: Cento Vietnam Tech Investment Report 2019
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CORPORATES ENGAGEMENT
Source: Cento Vietnam Tech Investment Report 20199
STARTUP ECOSYSTEM
PLAYERS
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THERE IS A GROWING CROP OF $100M+ COMPANIES
Source: Cento Vietnam Tech Investment Report 2019
> $
1 B
> $
100
M
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OTHER $100M+ COMPANIES PRESENT IN THE REGION
Source: Cento Vietnam Tech Investment Report 2019
> $
1 B
> $
100
M
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VIETNAM GAINS LARGER SHARE OF CAPITAL INVESTED
Source: Cento Vietnam Tech Investment Report 2019 13
VIETNAM: DEAL COUNT & INVESTMENT RISE SHARPLY
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THE YEAR OF MEGA-CHECK
Investee Investor Type Estimated Size
Yeah1 Group of Investors Pre-IPO $100M
Topica Northstar Group Series D $50M
Sendo Group of Investors Series B $51M
7 Undisclosed Deals
Undisclosed Mixed series $533M
STARTUP INVESTMENTSNAPSHOT IN 2018
The top 10 deals by value brought in $734M, equal to 83% of total deal value
$889MTotal value of 92 deals, increase from $291M,
2017
THE MOST FUNDED CATEGORIESFintech - $117M
Ecommerce - $104MTraveltech - $64MLogistech - $54M
Edtech - $55M
FIRSTUnicorn: VNG
IPO: Yeah1Source: TFI 15
THE YEAR OF MEGA-DEALS
Investee Investor Type Estimated Size
VNG Group of Investors IPO $1B
VNPAY Group of Investors Series D $300M
Sendo Group of Investors Series C $130M
TIKI Group of Investors Series B $75M
STARTUP INVESTMENTSNAPSHOT IN 2019
Making up 18% (or $741M) of the country-specificcapital deployment in 2019.
$741 MA slight decrease from
2018
THE MOST FUNDED CATEGORIES
Fintech - $307MEcommerce - $210M
Edtech - $150MTraveltech - $38MLogistech - $14M
FIRSTUnicorn: VNG & VNPay
Source: TFI
RECORD DEALS
Source: Cento Vietnam Tech Investment Report 201917
STARTUP INVESTMENT DURING COVID-19Investee Investor Estimated Size
OnPoint (E-commerce Enabler) Group of Investors $8M
Siêu Việt Group Affirma Capital$34M
Go2Joy STIC Ventures & group of Investors $2.5M
Waves Insignia Ventures Partners $1.2M
TopDev SaraminHR Korea$ Million
JupViec STI$ Million
eDoctor CyberAgent Capital, Genesia Ventures, Bon Angels và Nextrans$1.2M
Finhay Jeffrey Cruttenden – Cofounder Acorns $ Million
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Open Innovation Vietnam is a national
initiative launched by NATEC at TechFest 2018
to build an open innovation platform to
connect corporates, SMEs with the startup
ecosystem in Vietnam towards 2025.
OPEN INNOVATION VIETNAM INTRO
The initiative is initiated by Mdm. Phi Van
Nguyen - Senior Advisor for Project 844 under
NATEC with the mission to build the startup and
innovation ecosystem of Vietnam towards 2025.
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Innolab Asia has been appointed as the
implementation partner for Open
Innovation Vietnam.
Our vision is to create an innovative
collaboration platform where all
stakeholders in one innovation ecosystem
meet, collaborate and succeed together
INNOLAB ASIA INTRO
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PARTNERSHIP
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WHAT WE DO
Conferences, exhibitions & workshop
Investment & M&A Incubation program
Provide a large panel of services of training, workshops or conferences for people to share expertise and experiences from thought leaders and experts, to inspire, generate ideas and new thinking.
Providing greats advice to companies, and management teams. we support a range of clients, from large corporates to owner managed businesses. Help you to take the best decisions thanks to our experts.
We provide a resource-rich program designed to help startup founders and select entrepreneurs to pursue entrepreneurial ventures while diving deep into the world of innovation.
Innovation Team Building/ Training Corporate Innovation Advisory Fostering the series of activities asking people to deliberately break the normal rules of planning, behavior, decision-making to develop their innovative leadership skills
Encourage companies to acquire outside sources of innovation to order to improve product lines and shorten the time required to bring products to market or release internally developed innovation which does not fit the company's business model but could be effectively used elsewhere.
CrowdPitch
The number one place to introduce very early stage startups to the entrepreneurial community and bring them closer to investors.
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Open Innovation Vietnam
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Market entry for startups in Malaysia
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Rising X Demo Day
4 Days in Vietnam
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CrowdPitchVietnam2019
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Startups at CrowdPitch Vietnam 2019
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Innovation through design thinking
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How to be a continuous innovator workshop
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THANK YOU
Cong-Thang HUYNH
Co Founder & CEO - InnoLab Asia
LinkedIN: Cong-Thang HUYNH
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