Ho Chi Minh City, Vietnam to Host Startup Exchange


Entrepreneurs running around 100 start-ups will present their products and innovative ideas to convince investors to invest in their businesses at the 2016 Start-up Exchange to be held in Ho Chi Minh City at the end of this month, Vietnam News Agency (VNA) reports.

The businesses are in various sectors, including IT, education, agriculture, trading and services.

Sixty of them have been chosen from a business start-up contest (Start-up Wheel 2016) organised by the same people – the Ho Chi Minh City Young Business people Association and the Business Start-up Support Centre – while the rest have been recommended by incubators and start-up support organisations.

Of the 60 chosen from the contest, the organisers hailed highly Medixu, a monitoring device for people with cardiovascular diseases; ceb.vn, a website that provides training programmes in finance and accounting via infographic video (the first of its kind in Vietnam); and Vincent hi-end pennywort powder and related products to help cool the liver, detoxify, purify the body, treat acne and scars and others.

Many big investors are willing to look for promising start-ups this year, according to the organisers.

Mobifone, for instance, has a war chest of 15 billion VND (US$672,645) to invest in promising start-ups in IT and telecom infrastructure.

Vietcombank is among a handful of banks that will be present, looking for promising start-ups to whom they will provide loans on easy terms.

According to economists, like start-ups elsewhere in the world, in Vietnam too they are focused on IT and applications in healthcare, education, and agriculture.

Start-up Exchange, which began in 2013, has greatly benefited start-ups in the country, with more than 150 of them attracting investments of over 22 billion VND (US$986,547) at the annual event as of last year.

To be held at the Riverside Palace in District 4 on Aug 27, it is expected to attract more than 3,000 investors, start-up funds, entrepreneurs, and others.

See original article at http://www.bernama.com/bernama/v8/wn/newsworld.php?id=1271365


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