June 01, 2020 10:25

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Six Vietnamese startups seek foreign investment in Silicon Valley

20:15 | 16/09/2019

The national start-up day, Techfest Vietnam 2019 has taken place in California’s Silicon Valley in the United States recently, with the participation of over 200 intellectuals, experts, investors, six Vietnamese startups, and representatives of the innovative startup ecosystem from both Vietnam and the US.

six vietnamese startups seek foreign investment in silicon valley

At the event

The event represents the nation’s largest innovative start-up day and is being chaired and implemented by the Ministry of Science and Technology within the framework of the Prime Minister's 'National Programme for Supporting an Innovative Start-up Ecosystem through 2025', also known as Project 844.

Techfest Vietnam 2019 is the final activity for domestic startups during their working schedule in the US.

Previously, the delegation of Vietnamese startups worked with several relevant partners in both Boston and San Francisco in order to develop an international network that could serve to strengthen investment connectivity among national startups.

During the event, domestic startups gave presentations on their business models, and participated in one-on-one meetings with investors from 10 leading venture capitals from Silicon Valley including Pegasus Tech Venture, Highland Capital, Andreessen Horowitz, Sequoia, Dragon Fly, and Neo Global Capital.

A total of six representatives from Vietnamese startups nationwide have been selected to attend Techfest Vietnam 2019, including Abivin - the 2019 Startup World Cup champion, startups from the Top 10 Techfest Vietnam 2018 namely Ecomeasy Asia, Tubudd, and businesses which achieved victories at national competitions such as Gostream, Go Amazing, and Smilee.

Nguyen Trac Toan, Vietnamese Consul General in San Francisco, gave advice to Vietnamese startups looking to achieve success in Silicon Valley, noting that San Francisco is home to the largest global venture capital funds.

He expressed his desire that participating venture capital funds will seek investment opportunities in Vietnamese startups.

Source: VNA