1. Understanding the
Vietnam Startup
Ecosystem
Trần Trí Dũng; vebimo@gmail.com
Hà Nội 24/09/2020

2. Why Vietnam?
1. Why you are here?
2. What do you want to do?
3. What do you expect today?

3. Social Republic of
Vietnam
• Area: 331,210 sq km
• Coastline: 3,444 km
• Population: ~ 100 mln
• Workforce: ~55 mln
• GDP: $220-$250 bln
• Agriculture: 15%
• Industry: 33%
• Services: 52%
• Growth: 6.8%
• GDP per capita: $2000+
• Commercial lending rate: 10%

4. Golden Population
Structure
o Young, enthusiasm, and dynamic
o Low Uncertainty Avoidance
(Hofstede: 30/100)
o Critical role of education system in
building entrepreneurial mindset
o Pools of talented engineers… just
lack of startup/business founders.
o Generations:
o 70s; 80s; 90s, Xs, Zs

5. Confucianism in Vietnam
 Hierarchy: Social Ranking: “Sĩ – Nông – Công – Thương”
(Gentry scholar/Intellectual Official – Farmers – Craftsman –
Trader/Businessman)
 Face-saving: “Fail fast, Fail often, and Fail cheaply”
 Relation-based business: personalize business relation
 The hidden entrepreneur’s aspiration to become non-entrepreneur

7. STARTUPS
3000+
Incubators
Accelerators
40-
Coworking
Spaces
~70
VCs + Investment Funds
~ 40
University-based
Entrepreneurship
Programs
~ 130
Mentors Angel Investors

8. Ha Noi Capital City
• Population: 8 – 10 mln
• GDP: $38 bln
• GDP per capita: $4000
• Pace of Biz: Low-Moderate
• Advantage: Pool of talents, strong universities;
product-focused
• Satellites:
• Hai Phong
• Bac Ninhs
• Thai Nguyen
• Central Gov:
• MOST: 844, NSSC
• MPI: NIC
• City Gov: New startup support program
• CoWorking Spaces: Cogo, Up, many others
• Incubators & Accelerators:
• State-run & university-based
• Topic FI, ThinkZone, Rehoboth, VSV
• Local Investors: conservative

9. Da Nang – the Hub of
Central Region
• Population: 1.5-2 mln
• GDP: $4.3 bln
• GDP per capita: $3,865
• Pace of Biz: Moderate; direct
• Advantage: Hidden charms
• Relatively low cost of living
• Expat community; tech nomad
• Outward positioning
• Satellites:
• Hue
• Quang Nam
• Quang Ngai
• Central Highland
• City Gov: Regional Hub of Innovation
• CoWorking Spaces: Surf Space, and others
• Incubators & Accelerators:
• DNES
• Song Han Incubator
• Local Investors: still early

10. Ho Chi Minh city – the
Engine of Economic Growth
• Population: 13+ mln
• GDP: $58 bln
• GDP per capita: $6,430
• Pace of Biz: Fast; risk taking
• Advantage: economic hub; market-oriented
• Satellites:
• Binh Duong
• Dong Nai
• City Gov: Startup Exchange, Startup Runway Programs
• CoWorking Spaces: Up, Toong, Dreamplex, Circo,
others
• Incubators & Accelerators:
• State-run & university based: SiHub, SHTP IC, ITP
• BSSC, VIISA, Sao La, Startup Zone, Shinhan Lab..
• Local Investors: active

11. Tran Tri Dung
vebimo@gmail.com; + 84 917278078
 17 years of strategic & financial planning consultant
 8 years of innovation ecosystem enablers: Vietnam and Lower
Mekong Region (Lao, Cambodia, Myanmar)
 Entrepreneur journey: ERP, business communication, financial market
monitoring and analysis, geopolitics and economy analysis, applied
economic research, financial investment
 Advisor and board member in tech-based innovation businesses
(transportation, agriculture)
 Principal partner: family office and private equity (education, energy,
and resort)
 Investment interest:
o Tech-based innovations
o Preferred domains: Education, Tourism & Hospitality, Agriculture
o Faith * Integrity * Intelligence
Faith * Integrity * Intelligence
THANK YOU & ASK ME ANY THING