Da Nang City has been implementing many programs to support the construction and development of ecosystems, connect and attract investors and position itself on the international innovation and startup map; gradually building an attractive destination for domestic and international startups.
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| Many activities connecting elements in the international and innovative startup ecosystem were organized by the Department of Science and Technology. IN PHOTO: Startups connect 1-1 with investment funds at the DAVAS 2024 event at the end of May 2024. Photo: VAN HOANG |
At the end of May 2024, the Center for Supporting Innovative Startups (Department of Science and Technology) organized the Danang Venture and Angel Summit 2024 (DAVAS 2024). This is the first time the event has been held in Danang to connect elements in the ecosystem, creating opportunities for projects and startups to approach investors and investment funds; gradually building and positioning Danang to become an attractive destination for capital calling and investment, forming a community of angel investors and venture capital funds in the city. Here, 30 selected domestic and international innovative startup projects/enterprises participated in capital calling and 1-1 connection with investors and investment funds, creating opportunities for startup projects and startups to access capital and cooperate for mutual development.
Mr. Vo Nguyen Dinh Tri, Director of ReboEducation Joint Stock Company, said that Rebo Education is one of three EdTech startups (technology startups in the education sector) participating in capital raising at DAVAS. Rebo's products include the Rebo App that allows students to interact with 3D and augmented reality (AR) lessons on mobile devices, along with the Rebo Studio platform that helps teachers and students create vivid and engaging 3D lessons. Rebo creates unique learning experiences, helping students understand and remember complex concepts more easily. According to Mr. Tri, participating in capital raising with many investors is an opportunity for new startups like Rebo. At DAVAS, the project received a lot of sharing and comments from leading experts. In the immediate future, Rebo's founding team will work with a number of impressive investment funds that have connected and completed the procedures and requirements to meet the requirements and desires of the investment funds.
According to the Department of Science and Technology, DAVAS 2024 is an impressive highlight in the city's innovation and startup support activities; gradually affirming the position of the city's innovation and startup ecosystem before the international community, especially domestic and foreign investment funds. This is an opportunity for projects in Da Nang to learn from capital raising experiences of projects around the world and practical experience when approaching investment funds and investors; to review and re-evaluate the strengths and weaknesses of the project and perfect their solutions and products to be able to access and attract investment; gradually building Da Nang city into one of the major socio-economic centers of the country and the region with the role of a center for startups and innovation. Within the framework of DAVAS, the Department of Science and Technology coordinated with Quest Venture Investment Fund (Singapore) to launch Quest Ventures' innovation and collaboration space in Da Nang. Most recently, on June 11, a city delegation led by Deputy Director of the Department of Science and Technology Duong Hoang Van Ban visited and worked at a number of leading technology companies in China such as UBTech Robotics and Huawei Technologies; thereby, opening up many new opportunities for cooperation and development, promoting international cooperation in the field of technology and innovative startups between Da Nang and leading technology companies in China.
According to Mr. Pham Hong Quat, Director of the Department of Market Development and Science and Technology Enterprises (Ministry of Science and Technology), through the city's construction and connection at international events, the opportunity for the Da Nang innovative startup ecosystem to reach out to the country and the region is huge. Investors know Da Nang not only as a place to rest and travel but also as a place with attractive policies and mechanisms for investors. On the other hand, Da Nang possesses a very dynamic human resource, the ability of Da Nang startups to integrate very quickly with available potential and strengths. To improve skills, create a professional connection space, support and cooperation from the city government, universities and incubators are needed. At the same time, implementing programs, creating conditions for startups to connect, participate in international playgrounds to improve initiative, confidence, and positive contributions to the innovative startup ecosystem. “To attract investment funds and foreign investors, local investors also need communities and support mechanisms. It is necessary for angel investors in Da Nang to establish local funds or networks of angel investors. This also has the potential to attract international investors to participate in implementing initiatives of incubators,” Mr. Quat commented.
VAN HOANG
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