TECHFEST 2020 officially wrapped up yesterday (November 29) with Go Stream – a startup providing a livestreaming platform for online business – elected as champion.
|The final round of TECHFEST 2020 took place in the morning of November 29 |
Before bagging the winning title at the contest, Go Stream was one of six startups introduced at the US TECHFEST 2019 which received capital from VinaCapital Ventures and Zone Startups Vietnam.
Go Stream is a platform supporting online vendors to easily take advantage of live streaming to improve their business. With a single Go Stream account, users can live stream on dozens of Facebook accounts and other accounts on Twitter and YouTube for up to five hours a day.
According to its introduction, Go Stream's growth rate has reached an astounding 15 per cent monthly, with key markets including Vietnam, Thailand, and Singapore.
Information published at TECHFEST 2020 showed that Vietnam has about 700,000 online business vendors, 10,000 of which engage in live streaming. The number is forecast to keep growing, providing a fertile land for businesses focusing on the feature.
E-commerce is forecast to stay on the rise in Vietnam with an annual growth rate of 25-30 per cent. This booming market is opening the doors for revolutionary changes to selling methods, as demonstrated by the abundance of live streaming and the creation of stories on social networking sites.
Ranking at the second and third place is EM&AI, a startup specialised in using AI, big data, and chatbot in Vietnam, and Edulive, an online education platform supporting direct interaction between teachers and learners.
TECHFEST 2020 officially took place on November 26-29 at the National Economics University in Hanoi. The event lured in thousands of startups from across the country and more than 300 speakers from the world.
Mandy Nguyen, head of the programme’s organisation board, said that Vietnamese startups need a big playground where they can improve their abilities through training programmes and other activities.
“Therefore, this year's contest focuses especially on training and linking startups to experts and related consultants, as well as organising demo pitching to aid capital mobilisation,” said Nguyen. “Particularly, many new awards will be offered to promote creativity and innovation among startups specialised in healthcare, finance, export-import, and sustainability, among others.”