The entrepreneurial ecosystem in Danang has developed for almost 4 years since the first startup assistance organization was founded in 2015. In comparison to other big entrepreneurial centers such as Ho Chi Minh City and Ha Noi, the entrepreneurial ecosystem in Danang had a later start but the activities in this city by the beach are becoming more enthusiastic, exciting and catching with new trends.
In 2019, Danang has witnessed the birth of multiple strong and potential projects in the entrepreneurial community. For example, names such as Datbike, Cashbag, AI Fuel, Easy Salon…They represent a new startup wave in Danang in which they can utilize the technical strength more to make a difference and to become more mature in terms of age, experiences so that they can go beyond the limits.
UTILIZING THE TECHNOLOGICAL STRENGTH
Forget about the old belief that only people who are strong with business administration can open a startup, today nearly 30% of 500 biggest startup companies are technological, engineering or IT startup. The number above has demonstrated the world’s general trend.
The startup wave in Danang is also not an exception with the explosion of startups in the fields of science and technology, high-tech. The founders who have strength in these fields are currently the pioneer in the entrepreneurial community. Over 4 years of incubation and assistance, Danang Business Incubator (DNES) has witnessed a large number of technological and engineering startups grow and develop.
One of the noteworthy startups that can be named is Datbike – the startup has produced the stylish electric motorcycles named Weaver. The founder of Datbike is Mr. Nguyen Ba Canh Son, Master’s degree in Computer Science in America. He left the dream job as a software engineer in the Silicon Valley to come back to Vietnam. Mr Son followed his passion in science and technology by purchasing machinery components, he learned to design, weld…to create the first electrical motorbike. At the end of 2017, Mr.Son returned to Vietnam after 10 years away, together with his close friends, they founded Datbike. The founder group has researched and produced the convenient, environmentally-friendly Weaver motorcycles. Datbike has successfully called for investment up to 60.000 USD on Shark Tank, also received more than 100 pre-orders. Not only that, also signed a strategic cooperation agreement with Becamex to build a large-scale production line in Binh Duong.
Meanwhile, for tech-startups, two university teacher, Mr. La Trung Kien and Mr. Tran Ngoc Hoang with the project AI Fablab are making Vietnamese intelligent robots serving the educational purposes named STEM (robotics). These robots can be interacted with through mobile applications with different shapes such as tanks, hands, cranes, human-shaped with the ability to move express emotions…..,helping kids to learn-while-playing, enriching their science, mathematics and basic program developing skills.
WHEN THE FOUNDERS HAVE FULLY DEVELOPED
Around 4-5 years ago, startup and innovation is still a strange concept, even to business community. The entrepreneurial community in Danang is still very limited in terms of quantity and quality. However, overtime, the first generation startups have developed more after many failures on the startup path, when the next potential generation is continuously being incubated through multiple daily activities, the entrepreneurial community in Danang starts to get the “fruit” of their work.
Thong Le Anh Tuan – Founder of Cashbag, the top cashback reward app in Vietnam, known by many people with the points accumulation project for businesses F&B – Zody in Danang in recent years. This is not the first startup, Tuan has learned many valuable lessons to develop rapidly. Cashbag has reached more than 90.000 users and nearly 7 Million USD GMV (total exchangeable value).
Another familiar face of Danang Entrepreneurial community is Mr. Nguyen Quoc Hang, founder of Easy Salon- the managing platform for beauty services. Mr Han has had a few startup projects in the beauty services fields such as Bgift, Glamme but not successful. Utilizing his market experiences and relations, Mr.Han persistently followed and developed a new approach with Easy Salon, providing solutions for general management, customer management, especially loyal customers for Spas, Salons…Saw the great potential of Ho Chi Minh city market, Mr. Han went into the South looking for investors, with the target to sign contract with 2000 hair salons within one year, using that as a leverage to expand his business to neighboring countries in South East Asian and worldwide.
Not only witnessing young founders obtain more and more experiences, the new startup wave in Danang also witnesses the participation of national and international developers with a wide range of age, relations and experiences.
A typical example for this trend is Mr. Tran Manh Huy, co-founder of the project AI Fuel from Ho Chi Minh City. Aiming to business customers, his startup specialising in processing raw data to create reliable and meaningful data based on artificial intelligence, machine learning. AI Fuel brings the labeling service, data management using the human-resource from BPO Companies and especially the internet community in Vietnam. With the experiences in the field of technology, agriculture, printing and manufacturing… Mr.Huy has utilized this resource into AI Fuel, successfully built a 700-personnel network and he is completing his mobile application to allow the community to participate. So far, AI Fuel has received 6 national and international pre-orders as a proof for its big potential in this market.
Recently, we witness the trend of more and more successful foreign startups open their subsidiaries, recruiting members in Danang, in order to develop the young tech community here and to enjoy the refreshing environment. The increased appearance of multiple startup businesses from Sweden, Finland, Singapore or India working in the field of technology helps attract more talented personnel and economic resources in this city by the beach.
WE ARE “INTEGRATING” IN STARTUP AND INNOVATION
The startups that we mentioned above are just a few examples out of many projects that are being assisted by Danang Business Incubator. They are the typical examples for a new startups wave in this city. Here, we can see the birth and growth of startups that know how to connect successfully the technological elements, market understanding, vision and the ambition to go beyond their limits. Moreover, Danang is witnessing the appearance of high-quality foreign workforce as well as the return those who have been away from home. These are proofs for one thing, Danang is ready and starting to really “integrate” into the local and international Startup and Innovation.