Published May 7, 2024

VIETNAM INNOVATION FORUM AND THE LAUNCH OF VIETNAM INNOVATION & TECH INVESTMENT REPORT 2024

Do Ventures

VIETNAM INNOVATION FORUM AND THE LAUNCH OF VIETNAM INNOVATION & TECH INVESTMENT REPORT 2024 On April 26, 2024, Do Ventures and the Vietnam National Innovation Center (NIC) will co-host the Vietnam Innovation Forum, marking the release of the highly anticipated Vietnam Innovation & Tech Investment Report 2024.

To spotlight the most recent developments in investment trends for innovation and startups within Vietnam, NIC and Do Ventures collaborated to orchestrate the Vietnam Innovation Forum 2024. The forum revolved around the theme of "Transitioning into a High-Tech Nation," attracting prominent figures such as leaders from the Ministry of Planning and Investment, the Ministry of Science & Technology, investors, startups, and industry experts with diverse backgrounds from both domestic and international arenas. This marks the fourth consecutive year of the Vietnam Innovation & Tech Investment Report's publication, a testament to the ongoing partnership between Do Ventures and NIC.

With Deputy Minister of Planning and Investment, Mr. Tran Duy Dong, at the helm, the event brings together top investors, startups, and major corporations including Granite Asia, AC Ventures, Validus, Metub Network, VinBigData, Masan, and more. 

Upon the launch of the Vietnam Innovation and Tech Investment Report 2024, Mr. Vu Quoc Huy, Director of the National Innovation Center, and Ms. Le Hoang Uyen Vy, General Partner of Do Ventures, offer a comprehensive overview of the investment climate in Vietnam for the year 2023. Additionally, they delve into government initiatives aimed at fostering innovation, highlighting the following key points:

  • In 2023, Vietnamese tech startups received a total investment of $529M, which represents a 17% drop from the previous year. This statistic points to a sustained trend impacted by challenging worldwide economic conditions.

  • Despite its own 17% decrease, Vietnam’s VC funding exhibited impressive resilience, standing out amidst a global environment where total VC funding dropped by 35%.

  • In Southeast Asia, Vietnam maintained its third position in deal count and reclaimed the third spot in deal value, with Singapore leading in both aspects, closely followed by Indonesia.

  • Healthcare and Education saw record-high investments, with impressive jumps of 391% and 107% respectively.

  • In 2023, nearly 100 investors backed Vietnamese startups, with Singapore leading as the most active investor in Vietnam’s tech sector, followed closely by Vietnam in second place.

  • Several policies have been proposed to create an environment where innovative companies can thrive and attract investment, including Resolution 98/2023/QH15 of the National Assembly on piloting several specific mechanisms and policies to develop Ho Chi Minh City and Mechanisms on innovation and startups in the Draft Amended Law on the Capital City.

Download the full report here: https://doventures.vc/en/insights/reports/vietnam-innovation-and-tech-investment-report-2024


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