In a recent startup event organized by Startup Grind Vietnam, Ms. Le Diep Kieu Trang gave a lot of advice to the startup community on raising capital and expanding its size.
Assessing the domestic startup environment, Ms. Le Diep Kieu Trang said that the startup ecosystem is still very primitive compared to other countries. This makes the Vietnamese startup world limited from the market to the capital.
However, in the opposite direction, Ms. Trang said that this is also an advantage. “You have less competition in Vietnam,” Trang said.
The important thing in calling for capital, looking for investors, according to Ms. Trang is to be honest. Honesty must be expressed with the founder and the investor.
“There is nothing wrong if your product or idea today is just that much but you are the people who are willing to learn. That is what makes investors want to accompany for a long time”, CEO of Go -Viet said.
Vietnam’s market, according to Ms. Trang in previous years, has “stalled” due to the lack of transparency between startups and investors. This is one reason why investors are hesitant to pour money into new projects.
There are two points of startup that attract investors’ attention. The first is competitiveness, the second is the people. “Every company has these two factors,” said Trang, but noted that businesses need to know what are the strengths to pop up.
“If you choose a model that already exists, now it’s for business, there’s nothing wrong and embarrassing. This is very normal. In this case, you need to invest in the child element. people, proving that your team will do better than another group with the same idea, “she said. “This is how you should do it instead of showing your technology differently from the world.”
As for the case of strong technology startups, Ms. Trang said that they should pay attention to investing in products with large gray matter, to be able to attract attention in the market.
“Investors will not discriminate because you are from Vietnam. You should not be ashamed because you are from Vietnam. Technology has no borders,” Go-Viet CEO emphasized.
Another important point mentioned by Ms. Le Diep Kieu Trang in the startup community is to be humble and learn.
“Actually, our journey will never stop. We cannot know what we will become in the future, we must always approach opportunities,” she said.
“Observing successful start-ups rarely sees a founder who is not modest. If any leader starts to be presumptuous, that’s when the company starts to go down,” Le Diep Kieu Trang added.
* Source: Young intellectuals