FoodMap.Asia, an e-commerce platform to link farmers with hotels and residential areas, won the first prize at the final round of Startup Hunt 2020 contest which was held on November 27 with the theme of “agriculture digital transformation”.
Deputy Minister of Science and Technology, Mr. Huynh Thanh Dat addressed that Vietnam has attracted 108 venture capital funds local as well as overseas into its startup ecosystem. This number is a significant growth in the past years.
Through years of experience, we have seen Great founders with innovative ideas are struggling to find the right investors and get capital, especially at early stages – from Pre-Seed to Series A. Investors also have limited and inefficient access to qualified startups aligned with their expertise and vision.
The event is organized by the Investment matching Department of TECHFEST 2020, including NSSC, KisStartup and ThinkZone, in the series of events towards TECHFEST 2020 - the largest annual event for the startup community in Vietnam organized by the Ministry of Science and Technology.
Investment Matching is considered one of the most awaited events by Vietnam innovative startups during Techfest 2020. During this uncertain business environment, this year Investment Matching focused much more on promoting the connection between startups and local investors, VC, incubators, and accelerators to take advantage of current resources to adapt, transform, and breakthrough.
The Innovative Technopreneur Contest 2020 in the framework of TECHFEST 2020 brings the opportunity to connect financial resources, partners, as well as develops the market and shares knowledge assets for founders.
While startups are often emerging from existing technologies (tech-enabled) rather than making innovative technological products/services (tech-driven), big venture capitalists and corporates are likely to take high risk in financing the latter, which usually yield greater value once achieving product-market fit.
COVID-19 has interrupted the country’s journey to become a high-performing economy, but the right structural adjustments could help get it back on track.
Vietnam-based niche e-commerce startup Foodmap has raised $500,000 seed funding from Wavemaker Partners while e-payment solutions provider NextPay has announced an investment of VND11 billion ($475,000) in CNV Loyalty, a platform to create customer care applications.
Vietnam-based startup accelerator ThinkZone has led a pre-Series A funding round in local ride-hailing management platform EMDDI, according to an announcement on Tuesday. Financial terms of the funding round were not disclosed.