All-round report on Vietnam’s startup ecosystem to be unveiled

The Vietnam Open Innovation Landscape Report 2021, the most comprehensive and up-to-date overview of the local startup and innovation ecosystem so far, is set to be released in December.

The report, compiled by the National Startup Support Centre and the BambuUP Joint Stock Company, will be available in Vietnamese and English.

BambuUP General Director Nguyen Huong Quynh said the report aims to give an all-round panorama of the open startup and innovation ecosystem in Vietnam, update and analyse global and domestic innovation trends, assess the role of Vietnam’s startup ecosystem in the world, and create a diverse and up-to-date database.

It will also provide a “startup map” in several outstanding sectors like retail, financial technology (fintech), educational technology (edutech), healthcare technology (healthtech), marketing and sales technology, logistics, agricultural technology (agtech & foodtech), and tourism, she added.

The report is expected to be a source of information for startups, enterprises, and investors to seek and expand partnerships, thereby giving a stronger impulse to innovation and supporting recovery and growth in the “new normal” period.

It will also help the Government and policymakers to map out long-term development orientations for the open startup and innovation ecosystem, Quynh said.

She expressed her hope that this report will help introduce Vietnamese startups to foreign partners, including 5,000 organisations, businesses, and individuals in about 20 countries.

Statistics show that nearly 135,000 businesses were established in Vietnam in 2020, and the country is currently home to about 3,000 innovative startups. Vietnam will emerge in 2022 as the third-largest startup ecosystem in Southeast Asia along with Singapore and Indonesia, according to the Southeast Asia Startup Ecosystem 2.0 report report by Golden Gate Ventures.

However, BambuUP noted more than 95 percent of major enterprises have yet to gain sufficient information about the country’s startup ecosystem, so demand for comprehensive and updated information is now greater than ever.