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Thursday, December 1, 2022

HCMC attracts US$400m in venture capital in Jan-Sept

The Saigon Times

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HCMC – HCMC had lured 22 venture capital deals amounting to US$400 million in the year to September, according to data released at the launch ceremony of the HCMC Innovation, Startup and Entrepreneurship Week (WHISE) yesterday, October 13.

The city accounted for 50% of the country’s total number of venture capital deals in the first nine months.

Nguyen Viet Dung, director of the HCMC Department of Science and Technology, said that innovation startups in the city are highly evaluated by international investors. Some startups have business models with high growth potential and have applied new technology.

According to a report recently issued by the global startup ecosystem map and research center StartupBlink, HCMC continued to rise to 179th place in startup innovation.

The leading role of HCMC helped the Vietnam startup ecosystem inch up five notches year-on-year to 54th globally this year. The country also ranks fifth for startups in Southeast Asia.

This year’s edition of WHISE, themed “Digital transformation – New momentum for HCMC development”, features 42 events, mostly occurring on October 13 and 14, and aims to connect the innovative startup ecosystem in the city with neighboring provinces and organizations at home and abroad.

WHISE 2022 will gather 200 startups in Artificial Intelligence, Internet of Things, blockchain, Tehc4life and STEM. The event also features innovative startups that have successfully applied new technologies.

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