Apart from the internal restructuring of its venture capital unit, last year, Vingroup abruptly and continuously declared its retreat from the airline, retail, and agriculture markets, with the exit of VinCommerce, VinEco, and VinPro. Investors well predicted this outcome as they looked at Vingroup’s recent financial reports.
As Head of the Medtech Village (a "startup village" at Techfest 2020), Mr. Ngo Thanh Son shared about difficulties and challenges in the health sector after the Covid-19 pandemic, as well as the attractive investment potential of this field in the future.
VinTech, spun off from VinSmart, is researching artificial intelligence (AI), producing software, and developing new generation materials, primarily through its two research institutes, the Big Data Research Institute (VinBigdata) and the Vin Hi-Tech Research Institute (VHT).
Given that the "original sins" were entrenched, it could not dampen Chinese tech startups' demands to be listed on the world's largest capital market, which is three times larger than all China's stock markets combined.
Vingroup, the realty and retail giant with the highest market capitalization in the Vietnamese stock market, was performing a “hockey stick” graph of its operating profits from 2012 to 2019, but its economic profits were constantly negative. Since 2016, the company has been broadening its business activities to beat the odds and aims to become a global tech-industry-services powerhouse in the next 10 years.
The "controversial" and "unsolved" allegations against Chinese technology firms have been stacking up under the Trump administration, destroying the credibility of China's high-tech supply chain and arousing widespread sentiment of Chinese companies' being unfairly targeted by the Western government and media, a Financial Times editor says.
Although technical innovation may give a company a 6 to 18-month competitive advantage, the advantage from verified business model innovation in tech-enabled companies could last for a much longer time and highly attract lower-risk startup investment.
Although all businesses are likely to grow, the possibilities of scaling up among startups vary, based on its industries, growth stages, technology application capacity and founders’ management competency.
While startups are often emerging from existing technologies (tech-enabled) rather than making innovative technological products/services (tech-driven), big venture capitalists and corporates are likely to take high risk in financing the latter, which usually yield greater value once achieving product-market fit.
Although the pandemic has caused a slowdown in venture capital financing activities in Vietnam’s startups, investors in the U.S. could set high expectations for Techfest Vietnam event this year to see “the real reason why they need to come to Vietnam.”
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