Discussion by Quynh Huong DUONG Oct. 8, 2015

1. VIETNAM'S
STARTUP
ECOSYSTEM8 OCT. 2015
QUYNH-HUONG DUONG

2. Duong Quynh Huong
www.getspaces.co
www.shield.towww.fablabsaigon.org

3. Thanks Anh Minh DO
minh@techinasia.com

4. 1. UNDERSTANDING THE
ECOSYSTEM
2. UNDERSTANDING
VIETNAM

5. What is a startup?
“A temporary organization designed to search
for a repeatable and scalable business model.”
- Steve Blank
“A startup is a company that is confused about
1. 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

6. 90%
of startups #FAIL
but
in Vietnam,
99%
of startups #FAIL

7. 1. UNDERSTANDING THE
ECOSYSTEM

8. Interesting Stats on Vietnam
in 2015
Population: 93 million
More than 50% of the population < 35 y.o
Internet population: 40 million
Facebook users: 33 million
Smartphone population: ~25 million
E-commerce revenue: ~$500 million
conservative estimate versus $3 billion
from VECITA (VN ecommerce &
Information Technology Agency)
Mobile game revenue: approaching $300
million

15. 2. UNDERSTANDING
VIETNAM

16. Mature tech companies and ecosystem
Growing middle class (By 2020, Vietnam’s
average per capita income will rise from
$1,400 to $3,400 a year.)
Technical hub
Growing angel investors
Connection to Silicon Valley and Viet Kieu all
around the world
Two major cities in collaboration
Some success stories (Flappy, VNG, etc.)
Vietnam's Strengths

17. How Vietnamese culture
is hurting business
Government
Education
Small and short-term mentality
No trust & Can’t work together
Rich too soon
Want to be the boss but not the best
Self-pity, Ném Đá, Chảnh

18. Vietnam’s Weaknesses
Legal system & Policy issues
Lack of product managers and
design
Overall lack of human resources
Internet infrastructure
Rare IPO’s, slow M&A’s = no real
money
Per capita income is still below
$4,000
Two major cities in competition
Hardworking but not efficient

19. Thank You