At the beginning of 2014, Lozi was just an online platform for finding handy restaurants but, after only two years, it expanded its business to other areas such as fashion, cosmetics, accessories, electronic devices and books by connecting buyers and sellers. Lozi is now a popular community in Vietnam with about 400,000 users and monthly revenue of more than VND1 billion. At the end of 2016, Lozi received a US$1 million investment from South Korea. Lozi is among many start-up businesses in Vietnam. As the world started the race to the Fourth Industrial Revolution in 2016, Vietnam has aggressively accelerated to catch up with this trend. To date, Vietnam has over 1,800 start-up businesses, 21 incubators and seven business promotion agencies. These models are playing an increasingly important role in fostering start-up formation and development in Vietnam. Attracting venture capital funds 500 start-ups also have announced a decision to set up a small … [Read more...] about What Do Start-up Businesses Need?
Financing business start up
Representatives at the event (Photo: VNA) Can Tho (VNA) – Policy and technological solutions in support of enterprises which are either agricultural start-ups or shifting their operation to agri-business were discussed at an APEC forum in the Mekong Delta city of Can Tho on August 23. The APEC Forum on Agricultural Start-ups and Innovation brought together businesspeople, investors and officials in the agricultural sector of member economies of the Asia-Pacific Economic Cooperation (APEC). The event is expected to stimulate efficient collaboration and partnerships between public and private sectors in APEC economies, and to promote agricultural investment capabilities by providing right incentives for agricultural start-ups and innovations in the region, thereby transitioning towards a regional ecosystem of ICT-enabled knowledge economies. The APEC economies are facing … [Read more...] about APEC encourages agricultural start-ups, innovation
Vietnam recently launched an ambitious plan to transform the country from an offshore manufacturing hub for foreign companies into a major player in the global digital economy. In doing so, the government has adjusted business policies to pivot around small and medium-sized companies and encouraged the start-up boom. There is no question that one of the challenges facing start-ups is to find the capital they need to get their ideas off the ground. There have been mixed opinions about whether or not the Vietnamese government should turn itself into a venture capitalist to support early-stage start-ups. Some experts don’t think that putting the government in charge of deciding which business ideas get funding and which don’t is a good idea. The Becamex Technology Innovation Center (TIC) in Binh Duong Province, just north of the country’s commercial hub Ho Chi Minh City, was launched in 2012. The center was expected to become a startup incubation center for 2025 … [Read more...] about Should the Vietnamese government invest in start-ups?
Viet Nam News HÀ NỘI -Pragmatic policies are needed for the Government to realise its goal of promoting start-ups in the agriculture sector. During an online discussion held by the Government portal on Friday afternoon, Đậu Anh Tuấn, head of Việt Nam Chamber of Commerce and Industry's Legal Affairs Department, said that the Government should consider lifting the land limit which was hampering successful agricultural business. "Successful agricultural businesses require large-scale production," he said. "Collecting products from multiple sources makes it difficult to ensure stable quality, trace origins and to guarantee the food safety". The Law on Land introduced in 2013 set the land limit for agriculture by individuals or households from two to three hectares and from 10 to 30 hectares for industrial plants like rubber, coffee beans or tea trees. "Such land limits increase production costs and erode motivation to expand business," he said. The Ministry of Agriculture and Rural … [Read more...] about Farming start-ups need more help
Creating Favourable Legal Framework for Start-up Development Although the investment and development of innovative and creative start-ups is risky and not always successful, successful ones will generate many jobs, raise product value, and bring tremendous added values to the economy of each country. In Vietnam, the entrepreneurship movement at large and innovative and creative start-up movement in particular have gradually formed a business start-up ecosystem. However, it is essential to change mechanism and create a favourable legal framework to foster this activity in the coming time. Many successful countries in the world Innovative and creative start-ups are sensitive to market trends and cutting edge technologies in the world. In spite of their fledgling incorporation and small scale, staffed by talented employees, they have new technological initiatives, innovative business models, rapid potential growth and willingness to accept risks. They play an important role in … [Read more...] about Creating Favourable Legal Framework for Start-up Development