Silicon Valley meets Saigon

May 04, 2016

Start-ups, e-commerce, co-working space and unicorns are historically the lingo of Silicon Valley angels and venture capital investors.  These same terms are becoming more commonplace in Vietnam as the startup community heats up.

With a population of around 95 million, Vietnam has emerged as the market to watch in Southeast Asia. With 40 million Internet users and 20 million smartphone users, the country is growing fast, prompting global VC’s and startups to make an entry.  With this impressive mobile expansion, startups need to be savvy with mobile and tap the power of social media.

Even the US government is jumping in on the action.  The US embassy in Vietnam is planning to organize an Entrepreneurship Challenge, which will grant seed money to the winners to help bring their startups to market.

Here is an unsolicited sample list, in no particular order, of companies in Vietnam’s current startup ecosystem:

Vietnam Silicon Valley – A project in Hanoi that has incubated and funded 15 technology startups with the help of Silicon Valley mentors since 2014.

Hub.IT – A co-working space and incubator in Hanoi funded by Topica.

Toong – A co-working space also in Hanoi, with amenities to stimulate creativity and relaxation in a balanced venue. A meditation room, game room, lounge, bar and art gallery provide startups, investors and mobile professionals a place to connect, network or just chill.

500 Startups – A Silicon Valley-based fund with $10 million dedicated to Vietnam financial startups, B2B firms and enterprise SaaS technology.

PeaceSoft – The leading online shopping, e-commerce, payment network, and advertising and publishing destination in the country.

Nganluong.vn – An online payment gateway for buying and selling online goods.

eBay.vn – An auction site partnership with eBay USA.

Shipchung.vn – A shipping portal fulfilling e-commerce deliveries for thousands of online merchants in Vietnam.

BoxMe.vn – The first warehousing and fulfilment system created in Vietnam.

Chodientu.vn – The first and oldest e-marketplace of Vietnam.

Hotdeal.vn – A coupon-based e-marketplace

This is just a partial list.  If you know of a promising startup or have a startup idea you want to put into action, let us know in the comment section, or sign up for a free initial consultation with Soledad Investment Management.