Expanding the way to raise capital for technology startups in Vietnam

Policies to support and promote startups in the technology sector are expected to help raise capital for this activity better.

Mr. Tran Duy Hao - founder and CEO of Star Global Expert Solutions Joint Stock Company (StarGlobal 3D) - said that he still cannot access loan programs to support the digital technology sector, including the VND500,000 billion credit package being implemented by the banking industry.

The need to raise capital for technology startups is increasing in the current market context.

"The policy is very open and favorable, but businesses lack information about the criteria, so it is difficult to access preferential capital," Mr. Hao commented. Mr. Hao said that StarGlobal 3D once applied for capital support from a state fund but was not approved, despite meeting many conditions such as having patents, awards, and operating in priority fields.

Similarly, Mr. Hoang Van Tam - founder and CEO of DigiTech Solutions Company Limited - said that he started his business a long time ago but has not yet accessed any credit support packages.

One of the reasons for this situation is that businesses lack information and channels to learn. Therefore, businesses want management agencies to have specific instructions on startup support programs.

In Ho Chi Minh City, a policy that the startup community is interested in is supporting innovation and creative startup projects in the area. Specifically, Resolution 20/2023 of the Ho Chi Minh City People's Council has stipulated priority areas, criteria, conditions, content and support levels for innovation and creative startup projects in the area. If a project is supported in all 3 phases, the maximum amount will be 520 million VND.

Technology startups hope to access support capital when the government has many policies to develop science and technology , promoting innovation. Photo: LE TINH

According to a representative of the Ho Chi Minh City Department of Science and Technology, since the above policy was implemented, the department has received 40 registration dossiers from units in 2024. Of these, 233 projects have been selected for support, including 209 projects in the pre-incubation and incubation stages and 24 acceleration projects. The total support budget for these projects is more than 22 billion VND.

MSc. Le Nhat Quang, Director of the Center for Innovation and Entrepreneurship - VNU-HCM (IEC), said that the support from the resolution of the City People's Council is an important resource to help startup groups realize their ideas, commercialize their products and gradually approach the market. This is also a boost to promote scientific and technological innovation, supporting the startup ecosystem. The center has completed the submission of approved and approved projects, but needs to wait for appraisal to disburse.

Policy needs to be put into practice

Resolution 57/2024 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation is expected by many businesses to facilitate capital calling, especially solving the "chicken - egg" problem that startups often encounter.

Mr. Ho Anh Tuan, founder and director of TripHunter, said that after entering the market, the company is planning to raise the next round of capital, with a capital of about 500,000 to 1 million USD, in the next 12-18 months or longer. This startup's TripHunter AI product is a virtual assistant, operating 24/7, helping travel businesses automate the entire process - from consulting, quoting, sending tour images to customer care. Thanks to TripHunter AI, TripHunter has gradually transformed itself into an ecosystem that operates travel businesses using AI.

"Previously, capital raising was often done through domestic or foreign venture capital funds, through many different rounds. Recently, many large domestic corporations, enterprises or commercial banks have started to give more opportunities to startups" - Mr. Ho Anh Tuan said and expected Resolution 57/2024 to help attract more investment capital flows into the field of startups and innovation.

At the Venture Forum 2025 event recently held, Ms. Le Han Tue Lam, CEO of VinVentures Investment Fund, commented that by 2030, Vietnam will have at least 6 more unicorns (startups valued at 1 billion USD or more). In particular, the technology sector has great prospects and is clearly developing "hotly" - not only in growth rate but also in investment deals, successfully mobilizing tens of millions of USD in capital from domestic and foreign investment funds.

In this context, to provide more support for technology startups, IEC Director Le Nhat Quang said that policies need to be put into practice and be effective. Specifically, it is necessary to speed up the disbursement process, support the necessary facilities and infrastructure for startups. In addition, it is necessary to have a mechanism to attract experts, create conditions for startups to participate in state bidding packages, enjoy ordering policies and be exempted from taxes.

Ms. Le Ngoc My Tien - Co-founder and General Director of Blockchainwork JSC - suggested that Ho Chi Minh City should build a transparent mechanism, simplify investment procedures and protect investors' rights to attract foreign capital into technology startups. At the same time, it is necessary to promote connections with international venture capital funds, provide legal support and create a testing corridor (sandbox) for new business models.

Proposal to submit loan application online

Mr. Tran Duy Hao proposed allowing businesses to submit loan applications via online public services; authorities should proactively send clear information to businesses about loan criteria and conditions via email. At that time, accessing support capital sources will become much easier and more transparent.

"Over the past years, we have had to manage with our own personal capital, even selling assets to pursue technology research. If there is support from the state, the enterprise will have the conditions to develop strongly, making practical contributions to the development of science and technology in Ho Chi Minh City as well as the whole country" - Mr. Hao confidently said.

Source: https://nld.com.vn/rong-duong-huy-dong-von-khoi-nghiep-cong-nghe-1962507132010552.htm