$815 million from 33 venture funds committed to investing in Vietnamese startup projects Today, Vietnam Venture Summit (VVS) 2020 with the theme “Going Digital” has just taken place in Hanoi with the participation of nearly 1,000 representatives of ministries, agencies, funds, and startups. Compared to the summit last year, VVS 2020 has gathered half again as many venture funds as last year who committed twice as much in funding to invest in startups. At the summit, Minister of Planning and Investment Nguyen Chi Dung said that the pandemic has totally changed the innovation landscape. The crisis revealed some shortcomings of startups, even the largest ones across the world. Startups seem less resilient to economic fluctuates. However, in addition to some businesses facing challenges, others seem to flourish in the disrupted environs, like online meeting apps, online teaching, e-commerce, and delivery. “Flexibility and resistance are key, not only for startups and businesses but also for authorities, organisations, and every person, to seize opportunities and do business and investment,” the minister said. The socioeconomic development strategy for 2021-2030, drafted by the Ministry of Planning and Investment (MPI), points out two breakthroughs in the time coming, including sci-tech, innovation, and human development. Additionally, Decree No.94/ND-CP governing the incentives… Read full this story
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