In 2023, despite a 17% decrease in capital, the venture capital scene in Vietnam still shows optimistic signs when compared to the general situation in the world when global venture capital capital plummets by 35%.
On April 26 in Ho Chi Minh City, under the sponsorship of the Ministry of Planning and Investment, the National Innovation Center (NIC) and Do Ventures Investment Fund organized the Vietnam Innovation Forum. 2024 and announced the 2024 Technology and Innovation Investment Report.
According to the Vietnam Technology and Innovation Investment Report 2024, Vietnamese startups received a total investment capital of 529 million USD in 2023, down 17% compared to the previous year.
Chart comparing the number of deals and the amount of money invested in startups in Vietnam over the years. (Source: Technology and Innovation Investment Report 2024)
This decline shows that the technology investment landscape in Vietnam continues to be affected by the volatile economic situation globally.
Meanwhile, the number of deals remained relatively stable, only slightly decreasing by 9% to 122 deals. These figures show that after the record year of 2021, the technology investment market in Vietnam continues to be influenced by the current volatile global economic situation.
Investment value and number of deals in Vietnam in 2022 and 2023. (Source: Technology and Innovation Investment Report 2024)
According to the assessment report, while global venture capital capital decreased sharply by 35% to 345 billion USD compared to the previous year, the decline in Vietnam’s venture capital market shows that our startup ecosystem is weak. We continue to be an attractive destination.
Investment value and number of deals around the world in 2022 and 2023 (Source: Technology and Innovation Investment Report 2024)
In 2023, nearly 100 funds poured capital into Vietnamese startups, of which the most active investors came from Singapore, followed by Vietnamese investors.
The healthcare sector received a record high amount of capital, skyrocketing 391% over the same period last year, becoming the most invested sector.
The education sector also received the highest amount of capital ever, up 107% over the same period last year.
In the Southeast Asia region, Vietnam maintained the third position in the number of investment deals and regained the third position in total investment value. Singapore leads in both number of deals and total investment value, followed by Indonesia.
The Government has had many investment solutions to improve innovation indicators such as: developing policies to encourage innovation; developing the National Center for Innovative Startup Support…
The Vietnam Technology and Innovation Investment Report was announced at the Vietnam Innovation Forum in 2024 (for the 4th consecutive year) with the goal of elevating Vietnam’s innovation ecosystem. There is close coordination between Do Ventures and NIC.
Vietnam Innovation Forum 2024 is organized with the desire to promote innovation activities in Vietnam, and discuss the latest investment trends in the field of innovation in Vietnam.
At the Forum, delegates and guests witnessed the Commitment Ceremony to promote Vietnam to become a high-tech country with the participation of actors in the innovation ecosystem.
The commitment ceremony shows the close connection between subjects in the innovation ecosystem as well as the companionship and readiness to create favorable conditions for Vietnam to become a regional and creative innovation center. Potential investment destination for high-tech industries./.
