The proposal on policies development for building up Vietnam National Startup Ecosystem Phan Hoàng Lan National Agency for Technology Entrepreneurship and Commercialization Development (NATEC) 1
Startup Ecosystem Supportin g Agencies Gov. Market Policies STARTUPS ECOSYSTEM Human Startups Resources Startup VCF Culture 2
National Startup Ecosystem Support Project • Develop official documents and policies • Connect Vietnam startup ecosystem with related to innovative startup ecosystem ones in the area and in the world. • Build an online portal in order to provide • Cherry-pick and invest in several and centralize information and service supporting agencies for startups, such as for startup community. business incubators/accelerators and/or co-working spaces. • Raise people’s awareness about startups • and entrepreneurship by means of Encourage venture capital and venture communications and education. investment for startups. 3
1. Build an National online portal for startup communities • Provide information about technologies, inventions, standards, qualifications, etc. related to science and technology. • Information of human resources, investors, customers, markets, etc. • Necessary information for startups and database. • Information of events, news, policies for supporting Online Portal for EU Startups startup activities. 4
2. Building a startup Complex (e.g: Block 71 Singapore) • Infrastructures for communities and startups, internet service, etc. • Provide services for startups. • Co-working spaces for innovative startups. • Meet-up and networking spaces for entrepreneurs, investors, incubators, accelerators, etc. • Spaces for events, mentoring and/or Block71 Singapore coaching sessions. 5
3. National Events for startup and technology communities (TECHFEST) • Annual networking events for startup and technology communities. • Chance for connecting investor- startup. • Experience sharing, mentor/coaching session. • Government institutions contribute partly to organize events, in terms of finance, human resource, … 6
TECHFEST 2015 – The numbers • 50 investors • Invest amount > 1M US$ • 50 innovative startups • More than 1000 participants 7
4. Continue phase 2 of Vietnam Silicon Valley 2016 - 2020 Develop Develop network of Develop network of incubating/accelerating angel investors Venture Capital Funds programmes Startups 8
5. Capability Development and Training for Innovative Startups • Mentoring/coaching sessions and training for business incubators and accelerators. • Inviting professionals and experts to give talks. • Provide capability development services. Capability Development Grant – SPRING Singapore 9
6. Develop infrastructures for Innovative startups Co-working spaces Advance machinery tools (3D Printer, etc.) Laboratory/Science Service Technical resources (books, …) 10
7. Promote startup culture via means of communication • Via television channel • Via social media • Via official media channels • Raise awareness • Promote showcase startups • Provide information about startups communities. 11
8. Enhance networking • Arrange supports for in-the-country and out- of-the-country delegates. • Network and support potential startups to be coached in various hubs in the regions. • Introduce and network customers and markets. • Support for visa and strengthen the links between official Vietnam S&T Representative Office in foreign countries. 12
9. Encourage existed Funds for S&T development support startups community Support for startups 13
10. Research and suggest government policies for the promotion of Vietnam startup ecosystem • Official recognition and registration for venture activity, venture capital funds and venture investment. • Developing policies for Government support initiative and follow-on private investment for innovative startups. • Developing policies for local government institutions promoting innovative startup community. • Introduce special tax incentives and financial benefit for startups. • Develop supportive exiting strategy for investors, especially foreign investors. 14
Existing models (2016 – now) (2002 – now) (1993 – 1998) Fund of Funds 80M$ into 20M$ direct to VC Fund Startups (2013 – now) SPRING SEEDS ACE Startups Capital Grant Incubator Dev. Grant SSA Grant Fund of Funds (2014: invest 658M$) 15
Grants – no equity - Suitable for achieve the critical mass of startups. - S Factory: 14k US$/startup, 20-30 startups. - Seed: 30k US$/startup, 80-100 startups. - Suitable for immature - Scale: 86k US$/startup, 20-30 startups. startup ecosystem. - Invest in startups in pre- GRANTS AFTER 5 YEARS seed stages to develop commercialised products. - Promote startup spirit - Receive more than 3000 applications. and culture. - Deliver funds to more than 1100 startups. - Total value of startups through the programme is more than 475M US$. 16
Matching funding with Angel Investors/Startups • Accumulate the necessary capital for startups in seed stage. • Risk sharing with angel investors ACE Startups Grant and encourage angel Match ratio 7:3 with startups investments. (max 50k$) • Enhance and strengthen business linkages for startups. Capability • Develop critical mass of startups Development Grant as a potential market for (CDG) business incubators/accelerators Invest in capability and/or VC funds. development 17
Matching funds for business incubators/accelerators (BI/BA) - Chosen startups by verified BI/BA are already being assessed for Incubator Development potential growth. Programme Match ratio 7:3 for mentorship - Is a mechanism for developing programme, education activity of the BI and expanding the activity of Sector Specific BI/BA as well as numbers of Accelerator Programme Match ratio 1:1 for sector specific BA BI/BA in the ecosystem. Total 70M$ - Matching fund mechanism is a leverage tool for BI/BA to elevate number of invested startups. - 90k$ for each startups through 9 verified BI/BA, private investment range from 9k$ - 500k$ 18
Matching funds with Venture Capital Funds (VCF) - Reduce the risk of government’s money. - There is no need for assessment SPRING SEEDS panel in the GVCF, all Capital assessments are done by VCFs. Match ratio 1:1 in - Matching fund mechanism is deals by VCF, max suitable for leveraging the 2M$/deal. Government funding. - Build trust for external VCFs coming into the market. - Return of investments by means 80M$, invest in 10 VCFs , matching 40% of interests. amount. 19
THANK YOU 20
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