Da Nang summit connects startups with investment funds
The Da Nang Venture and Angel Summit (DAVAS) 2024 kicked off in the central city on May 31, aiming to create a chance for startup projects to access investors and investment funds.
The Da Nang Department of Science and Technology and KILSA Global sign a cooperation deal at the Da Nang Venture and Angel Summit (DAVAS) 2024 on May 31. (Photo: VNA)
Da Nang (VNA) – The Da Nang Venture and Angel Summit (DAVAS) 2024 kicked off in the central city on May 31, aiming to create a chance for startup projects to access investors and investment funds.
The two-day event also aims to connect elements of the local startup ecosystem and help form a community of angel investors and venture funds in Da Nang.
Held for the first time in the city, it gathers about 10 large domestic and foreign investment funds, including Quest Ventures, Do Ventures, TheVentures, TRIVE Singapore, BK Fund, and FundGo, along with about 30 startup projects and businesses.
Duong Hoang Van Ban, Deputy Director of the municipal Department of Science and Technology, said Da Nang has been working hard over the past years to develop the local startup and innovation ecosystem. It is coordinating with the Ministry of Science and Technology to establish a national startup support centre in the city.
The startup and innovation system of Da Nang is growing, and some local startups have succeeded in raising millions of US dollars in capital, he noted, adding that the city hopes more major enterprises, investment funds, angel investors, experts, and scientists will come to support startups.
James Tan, a representative of Quest Ventures, considered Da Nang one of the localities with good performance in connecting and helping startups raise capital, citing many big enterprises’ presence at DAVAS 2024 and readiness to buy services and products of startups.
He expressed his hope that the city will continue to successfully attract many large firms to the local startup and innovation network.
Da Nang is home to many universities and institutions specialised in training and seeking research and innovation talents, which is also a considerable resource for it to develop startups and innovation, according to Tan.
Activities at DAVAS 2024 include raising capital for startup projects and companies, connecting investorℱs and startups, holding three investment forums on startup and innovation, signing a coop🌠eration deal between the municipal Department of Science and Technology and KILSA Global, and launching an innovation cooperation space of Quest Ventures in Da Nang./.
The University of Economics Ho Chi Minh City (UEH) officially inaugurated a centre for innovation and entrepreneurship in its branch in the Mekong Delta province of Vinh Long on May 30.
Vietnam maintained its third position in the number of investment deals and regained the third place in terms of total investment in startups in Southeast Asia.
The People’s Committee of Ho Chi Minh City has issued a plan to implement policies supporting innovative startup projects in the city in the 2024-2028 period, which is expected to benefit nearly 2,000 projects.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
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.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
