Vietnam Startup Ecosystem In A Nutshell
posted by Jessica
on Jun 08, 2016
Vietnam is one of the fastest growing middle class in Southeast Asia as reported by Boston Consulting Group. With a population of more than 90 million people, internet penetration rate of 30%, mobile subscription of 145%, and young and talented developers and entrepreneurs, the country holds great potential. Both foreign and local investors notice the promise of another ‘Silicon Valley’ and have started pouring money, making Vietnam one of the most intriguing startup scenes in the region.
The country ranks as the third largest startup ecosystem in Southeast Asia, behind Singapore and Indonesia, with an estimated number of 1,400 to 3,000 startups currently based across Vietnam. Ho Chi Minh City and Hanoi are the top two cities loved by startup founders. Co-working spaces in Ho Chi Minh City and Hanoi have become the basecamp for these startups.
There is still lots of work that need to be done for Vietnam startup scene to develop further. One of the most challenging aspects in covering Vietnam’s startup scene is its lack of transparency. There are various reasons for this, but the fact is that many funding round sums remain undisclosed, thus making it harder to understand the extent of success of this scene.
To understand the scene better, bunch of folks at GeekTime has put together a spreadsheet detailing the entire Vietnamese startup ecosystem. Check them out here.
We also found another document detailing the startup events, co-working spaces, and publications.
What do you think about these documents? Let us know in the comment below and we hope you find them useful.