Startups whole-heartedly supported in HCMC

In the past few years, several organizations in Ho Chi Minh City (HCMC) have joined hand to promote startup activities in the community by offering friendly working space, necessary capital, and sensible advice to those in need, in hope of creating more useful products for both domestic and international markets.

VIISA began its 7th Acceleration Program for startups. (Photo: SGGP)
VIISA began its 7th Acceleration Program for startups. (Photo: SGGP)

Saigon Innovation Hub (SIHUB) has been one of the leaders in hosting attractive startup activities in HCMC. From 2016 to 2019, it delivered support to around 2,230 startup projects, ranging from product perfecting and display to investment attraction and market connection.

The most effective international collaboration of SIHUB at the moment is the joined program with EXPARA (Singapore's pioneer and leader in incubation, early-stage venture capital, entrepreneurship, VC and innovation training, mentorship and advisory work). So far, 20 companies have been selected to enter bootcamp (a training program), 16 have graduated from this program, and 10 are approved to enter the investment phase.

Similarly, Vietnam Innovative Startup Accelerator (VIISA), co-founded by FPT Group and Dragon Capital, has run its Acceleration Program to effectively support 28 startups, some of which are renowned names like WeFit, UrBox, WisePass,, and VDes. These actions have created more than 350 jobs and attracted US$5 million in total from investors.

Each startup selected by VIISA will be given $15,000, along with office services and skill training sessions to master methods to prepare a financial plan, attract investment, establish and achieve development milestones.

In the recent 7th Acceleration Program, VIISA was able to choose 3 potential startups in the fields of education, tourism, and healthcare technologies.

“VIISA spent time to evaluate the effects of Covid-19 to this program and decided to let it run as scheduled to timely deliver consultation to those in need”, said Director of VIISA Hieu Vo.

Another noticeable startup aider is Saigon Hi-tech Park Incubation Center (SHTP-IC). Until now, this organization has helped over 40 startup projects, all of which possess intellectual property and 13 of which gain a scientific-technological enterprise certificate in HCMC.

Many products of these startup projects like Elink Gate (with their patented invention eLinkKVM and eLinkMe) are successfully commercialized in the US, Malaysia, South Korea, and other European nations. They have created over 700 hi-leveled jobs.

This year, SHTP-IC aims at fostering commercialization activities and international collaboration for its startup projects, especially to giant corporations inside and outside SHTP.

“SHTP-IC is an advisor for SHTP’s Management Board to form an innovative network in the US to offer more opportunities as well as professional aid from American to Vietnamese startups when they enter this lucrative market”, said Director of SHTP-IC Le Thanh Nguyen.