Technology Business Owners

Looking at the confidence of the tech entrepreneurs below, it is hard to believe that they have failed many times in the process of starting a business. What these business owners have in common is that they all started from a very low point, overcoming many failures to find their own way.

Success after 3 failures

Born into a farming family in Ninh Binh commune, Ninh Hoa town, since childhood, Mr. Le Bao Quoc (born in 1989) - General Director of MODORO Digital Company Limited has been passionate about Informatics and became a student specializing in Informatics since grade 6. He has won many district and provincial awards in Informatics. In university, he continued to pursue Informatics at Nha Trang University and became a member of the school's Informatics Olympic team.

After graduating, Le Bao Quoc entered the business world. In 2011, he and 9 other young people opened a programming company, but due to a lack of basic foundation, he quickly failed. In 2013, he continued to open a programming company and then quickly went bankrupt. In 2015, he and a friend opened a company connecting patients and doctors at home, but the project also failed due to lack of capital. Not discouraged, in 2017, he continued to start a business by forming MODORO Company, specializing in outsourcing software for foreign countries; at the same time, building specialized domestic software, supporting businesses in digital transformation. In 2020, the opportunity came when he and the MODORO team knew how to convert the Affiliate model (multi-channel affiliate marketing) into a SaaS (Software as a Service) subscription service. The success of customers has brought fame to the company.

The Covid-19 pandemic has changed user behavior, causing customers to prioritize buying products online. Grasping this trend, Le Bao Quoc quickly transformed the model by cloning and installing it separately for each business. Currently, MODORO has 300 corporate customers, 16,000 collaborators nationwide, and system revenue of more than 30 billion VND/year. MODORO also has customers in France, Korea, Singapore, etc.

Starting a business from mechanics

Since his school days, Mr. Vo Quoc Thanh (born in 1985) - Director of Tu Loc Production and Trading Company Limited (Sunroaster) has always cherished the dream of creating products with Vietnamese brands. In 2015, he and some colleagues opened Sunroaster (in Vinh Ngoc commune, Nha Trang city), operating in the field of mechanical engineering and automation. At first, the company encountered many difficulties in product output, the products were not sold, the company had no revenue. However, it was the desire to realize the dream of creating products with the "made in Vietnam" brand that helped him stay in the profession.

Mr. Vo Quoc Thanh (second from left) introduces the new coffee roaster.

After 8 years of struggling, success finally came to him when the company's products were accepted by the market. The company's main products are coffee roasting and grinding machines and automatic filling lines for the food industry. The company constantly updates foreign technology and improves according to consumer needs, aiming to create products with good quality, 4-5 times cheaper than imported machines. The company initially signed contracts with foreign partners such as Cambodia, Laos, Indonesia, etc. The company's annual revenue is stable at 5 to 7 billion VND.

Master Nguyen The Loc - Deputy Head of the Science Management Department, Department of Science and Technology (KH-CN) said: In recent years, in the field of science and technology, many new enterprises have appeared, focusing on new industries, typically: software writing, mechanical automation, which the two above enterprises are implementing. These enterprises bring together young people, full of ambition, passion for innovation, overcoming difficulties and rising up. The Department of Science and Technology highly encourages and commends typical examples; there will be a plan to guide enterprises towards establishing science and technology enterprises to receive additional support from some policies for this type in the province.

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