Mr. Tran Duy Hao, founder and CEO of Star Global 3D Expert Solutions Joint Stock Company, stated that he has not yet been able to access loan programs supporting the digital technology sector, including the 500 trillion VND credit package currently being implemented by the banking industry.
The need to raise capital for technology startups is increasing in the current market environment.
"The policy is very open and favorable, but businesses lack information about the criteria, making it difficult to access preferential capital," Mr. Hao commented. Mr. Hao recounted that StarGlobal 3D had previously applied for capital support from a state fund but was not approved, despite meeting many conditions such as having patents, awards, and operating in a priority sector.
Similarly, Mr. Hoang Van Tam - founder and CEO of DigiTech Solutions Co., Ltd. - said that he started his business a long time ago but has almost never accessed any credit support packages.
One of the reasons for this situation is that businesses lack information and channels to access it. Therefore, businesses want regulatory agencies to provide specific guidance on startup support programs.
In Ho Chi Minh City, one policy that has garnered significant attention from the startup business community is support for innovation and creative startup projects in the city. Specifically, Resolution 20/2023 of the Ho Chi Minh City People's Council stipulates priority areas, criteria, conditions, content, and support levels for innovation and creative startup projects in the city. If a project receives support for all three stages, the maximum amount will be 520 million VND.
Technology startups expect to access funding support as the government implements more policies to develop science and technology and promote innovation. Photo: LE TINH
According to a representative from the Ho Chi Minh City Department of Science and Technology, since the policy was implemented, the department has received 40 applications from various organizations in 2024. Of these, 233 projects have been selected for support, including 209 projects in the pre-incubation and incubation phases and 24 acceleration projects. The total funding allocated to these projects is over 22 billion VND.
According to Mr. Le Nhat Quang, Director of the Innovation and Entrepreneurship Center - Vietnam National University Ho Chi Minh City (IEC), the support from the city's People's Council resolution is a crucial resource helping startup groups realize their ideas, commercialize their products, and gradually access the market. It also serves as a boost to promote scientific and technological innovation and support the startup ecosystem. The Center has completed submitting applications for approved projects, but is awaiting evaluation before disbursement.
Policies need to be put into practice.
Resolution 57/2024 of the Politburo on breakthroughs in national science and technology development, innovation, and digital transformation is expected by many businesses to facilitate fundraising, especially in resolving the "chicken and egg" problem that startups often face.
Mr. Ho Anh Tuan, founder and CEO of TripHunter, said that after entering the market, the company plans to raise another round of funding, approximately $500,000 to $1 million, over the next 12-18 months or longer. TripHunter AI, the startup's product, is a virtual assistant that operates 24/7, helping travel businesses automate entire processes – from consultation and quoting to sending tour images and customer service. Thanks to TripHunter AI, TripHunter is gradually transforming into an AI-powered ecosystem for operating travel businesses.
"Previously, fundraising was usually done through domestic or foreign venture capital funds, going through many different rounds. Recently, many large domestic corporations, businesses, or commercial banks have started giving more opportunities to startups," said Mr. Ho Anh Tuan, expressing his hope that Resolution 57/2024 will help attract more investment capital into the startup and innovation sector.
At the recently held Venture Forum 2025, Ms. Le Han Tue Lam, CEO of VinVentures Investment Fund, predicted that by 2030, Vietnam will have at least 6 more unicorns (startups valued at $1 billion or more). Among them, the technology sector has great potential and is experiencing rapid growth – not only in terms of growth rate but also in terms of successful investment deals and raising tens of millions of dollars in capital from domestic and foreign investment funds.
In this context, to provide more support for technology startups, IEC Director Le Nhat Quang believes that policies need to be truly practical and effective. Specifically, it is necessary to accelerate the disbursement of funds and support the necessary infrastructure for startup businesses. In addition, mechanisms are needed to attract experts, create conditions for startups to participate in government tenders, benefit from preferential ordering policies, and receive tax exemptions.
Ms. Le Ngoc My Tien, co-founder and CEO of Blockchainwork JSC, suggested that Ho Chi Minh City should build a transparent mechanism, simplify investment procedures, and protect the rights of investors to attract foreign capital into technology startups. Simultaneously, it is necessary to strengthen connections with international venture capital funds, provide legal support, and create a testing ground (sandbox) for new business models.
Proposal to submit loan applications online
Mr. Tran Duy Hao proposed allowing businesses to submit loan applications through online public services; and for relevant agencies to proactively send clear information to businesses about loan criteria and conditions via email. This would make accessing support funds much easier and more transparent.
"Over the years, we've had to fend for ourselves with personal capital, even selling assets to pursue technological research. With support from the government, businesses will have the conditions to develop strongly and make practical contributions to the development of science and technology in Ho Chi Minh City as well as the whole country," Mr. Hao confidently stated.
Source: https://nld.com.vn/rong-duong-huy-dong-von-khoi-nghiep-cong-nghe-1962507132010552.htm
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