Vietnamese startups were able to raise US$291 million worth in investments last year, nearly doubling its value in 2016, according to a study performed by Topica Founder Institute (TFI).
In spite of the country’s lack of a “unicorn” company – that is, a privately-held startup valued at US$1 billion or higher, the country remains full of potential even in its relatively fledgling state. According to KK fund general manager Kuan Hsu, Vietnam and Indonesia are prime destinations for investors and aspiring startups alike due to its largely young and tech-savvy population which has great potential for large-scale consumption.
It doesn’t end there – Vietnam has also seen its e-commerce sector rise in stature with foreign investors. According to the Vietnam E-Commerce Association (VECOM), the country’s e-commerce sector grew by 25% in 2017, one of the highest growth rates in the world, and the organization expects the country to maintain this tremendous growth rate until 2020.