Enlisting connection technology for growth of local startups

The seminar themed “Startups and opportunities to take advantage of the new data connection form”

This was stated on August 28 by the Ministry of Science and Technology (MoST) at the seminar named “Startups and opportunities to take advantage of the new data connection form” with the attendance of more than 150 local startups across the country.

The event mainly focused on the outlook of the Vietnamese data connection forms such as WIFI6, 5G, machine learning and AI, and SD-WAN, among others, and also pointed out the coming solutions of favouring startups, the long-term vision of a partnership between overseas groups and startups.

Thieu Phuong Nam, general director at Qualcomm Vietnam, Laos, and Cambodia said, “Over the pandemic, connection technology has become inevitable. The globe is in the shift to the next level of technology and 5G was created to help the way people work and entertain such as working from home, online studying, and far-distance health checks.”

As of now, about 60 mobile operators in over 40 countries implement 5G technology, and the number is forecast to reach 100 as of the end of 2020.

Hoang Minh Tri, founder and managing director of the Silicon Valley-headquartered startup nursery centre Ai20x, said that technology connection methods include 5G, Wifi 6, machine learning and AI, digitised spaces, and SD-WAN, covering plenty of applications covering all aspects and sectors.

“For connection technology to flourish, Vietnamese startups should carefully research the market and technology to figure out the necessary applications then make plans to materialise it,” Tri said.

To date, very few local tech startups could pass the product-testing phase. Most of their solutions have yet to show real potential and benefits for consumers, according to Nguyen Phi Van, founder of Vietnam Angel Network.

Moreover, at the seminar, overseas tech groups announced pumping hundreds of thousands of US dollars into local startups that have run into adversities due to COVID-19.

The United States-based Qualcomm and Singapore-based Beowulf Blockchain recently announced to pour $480,000 investment in the local startup circle, under the Ministry of Science and Technology project titled “Supporting the startup ecosystem and national innovation to 2025.”