Golden Gate Ventures on May 30 signed a cooperation agreement with the National Innovation Centre (NIC), aiming at strengthening long-term relationship, and supporting the development of the startup and innovation ecosystem in Vietnam.
Representatives from Golden Gate Ventures and National Innovation Centre sign cooperation agreement. (Photo: VNA)
Hanoi (VNA) - GoldenGate Ventures on May 30 signed a cooperation agreement with the National Innovation Centre (NIC), aiming at strengtheninglong-term relationship, and supporting the development of the startup andinnovation ecosystem in Vietnam.
The agreement was inked within the framework of the workshop themed “Golden Startup Triangle in Southeast Asia: Vietnam - Singapore – Indonesia” organised by the NIC.
With this deal, Golden Gate Ventures will increaseinvestment in the market, promote exchanges, develop new ideas and innovations,and act as a catalyst to support Vietnam’s startups in building a position inthe region.
Currently, the investment fund has establishedrepresentative offices in Singapore, Vietnam and Indonesia, affirming that thisis the “Golden Triangle of Startups” in Southeast Asia.
Illustrative image (Photo: nucetech.com)
Many delegates to the workshop said thatVietnam has become a "new gem" of the region when it rises to the topof the rankings along with leading regional countries such as Singapore andIndonesia with a record high investment of 1.4 billion USD poured intoVietnamese start-ups in 2021 - the year when the country was heavily affectedby the COVD-19 pandemic.
NIC Director Vu Quoc Huy said that in the first four monthsof 2022, the number of newly-established enterprises in Vietnam increased by12.3 percent over the same period last year and by 31.9 percent over that of theprevious two years.
Golden Gate Ventures is a venture capital fund in SoutheastAsia founded by Silicon Valley natives. Since 2011, the firm has launched fourfunds, managed 250 million USD AUM, and invested in over 60 companies.
To support startups and innovation in Vietnam, the fund announcedthe launch of two new offices in Hanoi and Ho Chi Minh City./.
A record of over 1.3 billion USD was poured into Vietnamese startups in 2021 despite the complicated developments of the COVID-19 pandemic, helping the country rank third in the group of the most dynamic innovative startup ecosystems in Southeast Asia, only after Indonesia and Singapore, statistics show.
The Vietnamese startup community has made breakthroughs despite difficulties brought by the COVID-19 pandemic as a record high of more than 1.3 billion USD in venture capital was pumped into startups last year.
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Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Representatives from Golden Gate Ventures and National Innovation Centre sign cooperation agreement. (Photo: VNA) 
Illustrative image (Photo: nucetech.com) 
