Alibaba Group introduces investment capital for Vietnamese Startups

SGGPO 04/07/2023 10:47

Startups under five years old and with a valuation under $20 million are eligible to apply for the program.

Units signed cooperation at the program

As part of the “Innovation Workshop Series” event for startups recently held in Ho Chi Minh City, Alibaba Group introduced many programs to support Vietnamese startups. This is not only an opportunity for Vietnamese startups to access investment funds from Alibaba Group, but also an opportunity for Vietnamese businesses and startups to access the Hong Kong (China) market.

Innovation Workshop Series (IWS) is a community project for Vietnamese businesses with the aim of sharing practical experiences with businesses, through success stories, new thinking, new ways of doing things, ways of innovating to “survive”… from large corporations, domestic and international experts. IWS is initiated and chaired by IBP, Ho Chi Minh City Young Entrepreneurs Association (YBA) and Youth Startup Support Center (BSSC).

Mr. Teddy Lui, representative of the “Jumpstart with Alibaba Entrepreneurs Fund 2023” program, said that all startups under 5 years old and with a valuation of less than 20 million USD can apply for the program. Innovation is the most important factor of the program, followed by factors such as market potential, business model, team strength, etc.

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