Vietnam-Japan Startup Forum to enhance bilateral investment

Attending the event were the Vietnamese Ambassador to Japan Pham Quang Hieu, leaders from the Japanese Association of Professional Engineers, representatives from Japan International Cooperation Agency (JICA), and a multitude of Japanese corporations keen to explore the Vietnamese market.

Seven startups representing three incubators from Vietnam - BK Holdings from Hanoi, Vietnam Innovation Hub in Danang, Ho Chi Minh City's Bach Khoa Innovation - were also present, along with three Japanese-based Vietnamese startups.

Speaking at the event, Ambassador Hieu said, "The innovation of startups in Japan has significantly propelled the bilateral relationship of our nations forward."

The occasion was extra significant, coinciding as it did with Vietnam's Entrepreneur Day, and the 50-year anniversary of diplomatic relations between Vietnam and Japan, further cementing the investment and cooperative ties between the two countries.

With its primary objective to assist Vietnamese entrepreneurs in accessing capital, market intelligence, and facilitating technology transfer projects, the event centred around offering insight and consultations on startup procedures, financial support, educational and training programmes, and providing networking opportunities with other entrepreneurs, investors, and industry experts.

The event was particularly distinguished by presentations from several startups from both nations, including Ecofa, Deep Signature, V-Quantum, WENet, and Notessen, among several others.

"These are the standout startups of 2023, operating across diverse sectors such as sustainable technology, AI, cloud computing, and advanced construction technologies," said one attendee.

Representatives showcased their innovative business models, leaving a positive impression on Japanese investors and signalling promising investment deals in the future.

One of the highlights from the forum were the signing ceremonies for agreements involving three startups. Hanoi-based Do Hoang Holding completed deals with two Japanese counterparts - Hanabi Co. Ltd and Sato Electrical Engineering Service Col. Ltd. These partnerships pave the way for further investment and opportunities in Japan.

In terms of financials, while specific investment figures were not immediately disclosed, the average startup deal in such forums could potentially range anywhere from a few hundred thousand to several million dollars.

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