Vietnam's startups on the way to a smart ecosystem - Strong connections are the key to success

The Vietnamese startup scene has developed rapidly in recent years, but it is still highly fragmented. The connections between startups, investors, and regulatory authorities are often weak or non-existent. This leads to a number of challenges, such as:

* Weak financing opportunities for startups: According to a report by the World Bank (2020), only 10% of Vietnamese startups have access to capital markets. * Unclear regulatory framework: The regulatory authority in Vietnam enacted a law on personal data protection in 2019, but its implementation remains unclear. * Lack of networking opportunities between startups and investors: A report by Ernst & Young (2020) shows that only 30% of Vietnamese startups have access to networking events.

To overcome these challenges, it is crucial to build strong connections between the various players. This can be achieved by creating networks and platforms that bring startups, investors, and regulatory authorities together.

One example of this is the Vietnam Startup Forum, an annual event where startups and investors come together. This event has already attracted more than 5,000 participants (2020) and has helped to strengthen the connections between the various players.

The creation of strong connections between the various players has a positive impact on the development of the Vietnamese startup scene. This is evident in the following examples:

* Numerous successful startups, such as Tiki (acquired by Alibaba in 2019) and VNG (with revenues of over $100 million in 2020), have achieved success thanks to the creation of connections with investors and regulatory authorities. * The creation of networks and platforms has helped startups to obtain better financing and investors to better secure their investments.