Latest blog articles
Technology startups: high failure rate worries some investors
A couple of weeks later, Vietnamese Deputy Prime Minister Vuong Dinh Hue stated that a stock market specifically designed for startups would make debut in two or three years to help startups mobilize capital.
The good news came amid the strong start-up movement in Vietnam which has caught attention from foreign investors. There are about 40 investment funds with the investment capital of $50 million for each operation in Vietnam.
The Ministry of Planning and Investment is compiling the draft circular on the establishment, organization and operation of venture funds for innovative startups in Vietnam, under which it takes three days only to set up one venture fund in Vietnam
More than 60 percent of startups fail and 70 percent fail in the first year of operation.
Besides the familiar names such as IDG Ventures, Vietnamese startups now can see capital from many other names which arrived in Vietnam recently, including CyberAgent Ventures from Japan, Dream Incubator Vietnam from Japan, 500 Startups from the US and Alpha Vision from Singapore, and from Vietnamese funds such as FPT Fund, Seedcom and Appota.
However, there are also the grey parts of the picture. Le Thanh Tam, managing director of IDG SE Asia, noted that in Vietnam, more than 60 percent of startups fail, while 70 percent fail right in the first year of operation, and 90 percent meet difficulties in the second and third years.
Nhom Mua, Lana project, Deca.vn and Tho dia, the e-commerce startups which caught the special attention of the community when they were established, turned out to be ‘dud bombs’.
The high percentage of failed enterprises is reported as ‘understandable’.
Nguyen Duong Huy Vu, managing director of Fibo, the 8-year-old SMS solution provider, said the typical characteristics of solution providers are low product price and high labor cost.
Ninety percent of Vietnamese enterprises are small and medium enterprises which do not intend to spend big money on technology solutions.
Meanwhile, developing apps on smart devices for consumers has become less attractive. According to Vo Duy Tuan who has sold Karaoke Viet Nam app to Quang Cao 24h Company, too many apps have appeared and the age of making apps to benefit from ads is over.
According to statista.com, by February 2016, the number of apps operational on Google Play had reached 2 million, while the figure on App Store by June 2015 had reached 1.5 million.
Can Vietnam be a ‘startup nation’ if it prosecutes cafe owner for taking too long to file business registration?
Startups register businesses in Singapore, why?
US investment fund to invest $10 million in start-up projects in Vietnam
NCDT Read on the original site
Vietnam records trade surplus of $2.45 billion: GSO
Vietnam enjoyed a trade surplus of 2.45 billion USD in the first eight months of this year, a report from General Statistics Office (GSO) has revealed. Vietnam's trade revenue topped $221.93 billion in the first eight months The eight-month trade surplus was totally contributed by the foreign-invested sector, which posted an export surplus of 15.18 billion USD, while the domestic sector witnessed a deficit of 12.73 billion USD, Le Thi Minh Thuy, Head of GSO, said. The country's trade… chat_bubble_outline Read More...
Rams land in London with work to do before Giants showdown
LOS ANGELES (AP) — The Los Angeles Rams' flight from Detroit to London was a breeze, and the team arrived in England ready to start work for the upcoming week.Fixing the problems revealed in Sunday's loss to the Lions will take a bit longer.The Rams (3-3) have lost two straight heading into their game against the New York Giants at Twickenham Stadium this weekend, erasing their strongest start to a season in a decade.A trip to London is an added complication for a team that has seemingly spent… chat_bubble_outline Read More...
Saudi Arabia temporarily halts Vietnam’s live poultry imports
Saudi Arabia’s Ministry of Environment, Water and Agriculture has banned the import of livebirds, hatching eggs and chicks temporarily from Viet Nam due to the bird flu disease. Osama Bin Abdullah Al-Saleh, director general of the Department of Animal and Plant Quarantine, on Sunday said the ban was imposed following the bird flu warning in Viet Nam, issued by the World Organisation for Animal Health (WOAH).Several cases of avian flu have been detected, therefore, the import suspension will… chat_bubble_outline Read More...
Japanese discount retail brand opens first stores in Vietnam
The opening ceremony at a Miniso store in Hanoi on September 11. Photo by phapluatvietnam.vn Japanese lifestyle and fashion brand Miniso opened its first three outlets in Hanoi on September 10, VietnamPlus reported on Sunday. Its entry into Vietnam is part of a franchise deal inked with Vietnam's Le Bao Minh Group in April this year. The company plans to open 12 stores by the end of this year, the news site said. Miniso was co-founded in 2013 by Japanese designer Miyake Jyunya and Chinese… chat_bubble_outline Read More...
The next US president's N. Korea dilemma
Seoul (AFP) - Among the many challenges facing the next occupant of the White House, few will be more pressing, or more complex, than that posed by North Korea's seemingly inexorable drive to nuclear statehood.As adamant as Washington is about never accepting the North as a nuclear weapons state, the ground reality is of a country rapidly closing in on its strategic goal of possessing a direct and credible nuclear strike threat against the US mainland.Pyongyang's weapons programme has… chat_bubble_outline Read More...