VIETNAM'SSTARTUP

ECOSYSTEM8 OCT. 2015

QUYNH-HUONG DUONG

Duong Quynh Huong

www.getspaces.co

www.shield.towww.fablabsaigon.org

Thanks Anh Minh DOminh@techinasia.com

1. UNDERSTANDING THEECOSYSTEM

2. UNDERSTANDINGVIETNAM

What is a startup?

“A temporary organization designed to searchfor a repeatable and scalable business model.” - Steve Blank

“A startup is a company that is confused about1. what its product is, 2. who its customers are 3.how to make money.” - Dave McClure

“A startup is a company designed to grow fast.”- Paul Graham

90%

of startups #FAIL

butin Vietnam,

99%of startups #FAIL

1. UNDERSTANDING THEECOSYSTEM

Interesting Stats on Vietnamin 2015

Population: 93 millionMore than 50% of the population < 35 y.oInternet population: 40 millionFacebook users: 33 millionSmartphone population: ~25 millionE-commerce revenue: ~$500 millionconservative estimate versus $3 billionfrom VECITA (VN ecommerce &

Information Technology Agency)Mobile game revenue: approaching $300million

2. UNDERSTANDINGVIETNAM

Mature tech companies and ecosystemGrowing middle class (By 2020, Vietnam’saverage per capita income will rise from$1,400 to $3,400 a year.)Technical hubGrowing angel investorsConnection to Silicon Valley and Viet Kieu allaround the worldTwo major cities in collaborationSome success stories (Flappy, VNG, etc.)

Vietnam's Strengths

How Vietnamese cultureis hurting business

Government EducationSmall and short-term mentalityNo trust & Can’t work togetherRich too soonWant to be the boss but not the bestSelf-pity, Ném Đá, Chảnh

Vietnam’s WeaknessesLegal system & Policy issuesLack of product managers anddesignOverall lack of human resourcesInternet infrastructureRare IPO’s, slow M&A’s = no realmoneyPer capita income is still below$4,000Two major cities in competitionHardworking but not efficient

Thank You