Technology startups introduce products to customers

Many barriers

At the recent Vietnam Private Economic Forum 2025, Dr. Nguyen Huu Xuyen - Deputy Director of the Institute of Strategy and Policy on Science and Technology said that about 90% of startups fail within the first 5 years, and after that, this number can be up to 95%. This shows that starting a business is not easy. For startups in the technology sector, the challenge is even greater. In addition to facing difficulties related to capital, market, knowledge, and skills, they have to face the increasingly rapid pace of change in technology and market problems.

At the event “Tech Startup Day: Connecting the technology startup ecosystem in Hue city”, Ment.vn CEO Nguyen Van Sach said that starting a business, especially in the technology field, is always a lonely journey. Ment.vn is no exception. He shared: “Technology is constantly innovating at a dizzying pace, so many times it makes me doubt myself. When the product begins to be more complete, we start to test the idea, improve the features and find ways to make the product more useful and easier to use. When the product has taken shape, the story of approaching customers also makes the founder discouraged.”

CEO & Founder Fundiin - a financial technology (Fintech) company in Vietnam specializing in providing Buy Now Pay Later solutions, Nguyen Anh Cuong also pointed out a problem that startups in the technology field are facing, which is the very high rate of software copyright infringement in this field, which can easily affect the reputation, brand of products as well as businesses, and can even lead to related legal issues.

From that reality, CEO & Founder Fundiin proposed to build a separate support ecosystem for startups in the technology field. Specifically, in the incubation phase, there needs to be accompaniment for key tasks such as accounting, legal, human resources, and environment so that businesses can experiment; there should be policies to support the foundation for startups from knowledge, operational management skills to possible legal risks...

Need companionship

In Hue, the ecosystem supporting startups in general and technology startups in particular was formed quite early and operated relatively effectively.

Mr. Nguyen Van Sach said that by participating in the Innovation Startup Competition and winning the prize, his company was supported to connect to the innovation startup ecosystem of Hue Innovation Hub and also received many other supports. Joining the startup community has opened up opportunities for Ment.vn to access the market, become more known and most importantly, build a network of connections with experts, investors, potential partners to expand the market, connect with teammates who are willing to support each other to overcome difficulties.

Not only that, participating in the startup ecosystem also helps businesses easily access support policies such as: Product promotion, event participation, use of shared working environments, training programs to improve the team's capacity. These supports have added motivation, creating a launching pad for startups to be more confident on the journey of developing technology products.

Currently, the ecosystem supporting startups in the technology sector is being deployed by the City Center for Innovation and Startup with many effective support activities for businesses. Typically, it supports the construction of pilot research models, evaluation and policy consultation. In addition, the Center for Innovation and Startup also supports infrastructure, shared workspaces, meeting rooms, training, studio labs, product displays, etc. for businesses in the ecosystem. Along with that, activities connecting the ecosystem with experts, investors and partners, implementing incubation programs, training courses, calling for capital, and market testing have created a favorable environment for startups to develop.

In the period of 2021 - 2024, the City Center for Innovation and Startup has incubated 10 models; supported participating enterprises to successfully raise capital with an amount of 9.56 billion VND; incubation projects recorded an average growth rate of over 35% after 3 months.

Mr. Cung Trong Cuong, Director of the City Center for Innovation and Startups, shared that the Center is focusing on the difficulties that startups are facing, especially issues related to connecting the ecosystem with large enterprises, investment funds supporting startups, institutes and schools; supporting projects calling for investment capital. Building a shared workspace, an experimental environment so that startups in general and technology startups in the ecosystem can cooperate and support each other... At the same time, promoting public-private cooperation and international connections to bring startups the opportunity to access new knowledge, successful models from advanced ecosystems...

Article and photos: HOANG ANH

Source: https://huengaynay.vn/kinh-te/ho-tro-doanh-nghiep-o-linh-vuc-cong-nghe-160238.html