More projects to support startups to create social impact
On October 7, the Asian Development Bank (ADB) and the Ministry of Planning and Investment launched a project to support startups in many fields in Vietnam through the ADB venture capital fund.
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The project titled "Supporting innovative start-ups" aims to increase the accessibility of venture capital for Vietnamese startups in the fields of: clean technologies, finance (fintech), agriculture (agritech), medical health (healthtech).
In addition, the project also supports the necessary skills for businesses in improving the practical applicability of their products and their ability to access the market.
The process of selecting, training skills and making appraisal documents with startups can take 4-6 months. Selected businesses will have the opportunity to participate in investment rounds conducted by ADB Ventures with other partners and investors.
The ADB Ventures Fund, with a total value of more than $60 million, was established by ADB last year, with the aim of investing in new technology companies in the Asia and Pacific region capable of solving problems pressing development challenges in the region.
The fund invests in early stage businesses and investments can range from $100,000 to $4 million.
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