StartupBlink has just published a report on “Global Startup Ecosystem 2022” with good signs for Vietnam’s startup ecosystem.
The report, which was collected by StartupBlink with data from 1,000 cities across 100 different countries, was first published in 2017. In terms of Southeast Asia, Vietnam surpassed the Philippines to rank 5th after Thailand. Lan, Indonesia, Malaysia and Singapore. As for the world, our ecosystem has increased 4 places compared to 2021, stopping at 54th position on the chart.
StartupBlink’s ranking uses data from a survey of hundreds of thousands of founders, startup ecosystem, corporations and stakeholders. Some of the partners that helped StartupBlink collect data for this year’s rankings include Crunchbase, Semrush, Statista, UNAIDS, CoWorker, and more.
The way to calculate the total score of an ecosystem in this year’s ranking is based on three factors, including quantity score (Quantity Score), quality score (Quality Score) and business score (Business Score).
According to StartupBlink, Vietnam has enough growth momentum to surpass the current position of Thailand (53 in the world and 4th in Southeast Asia) if it still maintains the growth of the ecosystem.
This ranking also shows the global and Vietnamese startup cities with 2 representatives, Ho Chi Minh City and Hanoi, but the gap between these two cities has widened, when Ho Chi Minh City is approaching. In the top 100 startup cities, up 68 places to rank at 111, Hanoi dropped 31 places to position 222, falling out of the global top 200.
Making a comment, StartupBlink shared, “Hanoi and Ho Chi Minh City are definitely the driving force behind Vietnam’s startup ecosystem in the future, but with a population of nearly 100 million people, two cities are not enough. , Vietnam’s startup ecosystem has growth potential, mainly due to the size of the economy, which helps startups succeed even if they don’t expand into the international market.”
The lack of qualified workers, the scarcity of funding, the lack of startup scale, and the slow pace of regulatory reform are the reasons why the growth ecosystem has not been as expected.
StartupBlink also points out the areas that are developing and attracting current investors in Vietnam, including e-commerce, fintech, foodtech, solutions for businesses and information technology services.
Vietnam currently has 4 unicorns (startups valued at 1 billion USD or more), including VNG, VNLife, MoMo and Sky Mavis. In this time, StartupBlink also named MoMo, Sky Mavis and an e-commerce startup, Sendo, as notable startups this year.