Should you create your start-up in Vietnam ?
Yesterday I have been able to join a talk show about the entrepreneur ecosystem in Vietnam, trends and investments as well opportunities between France and Vietnam and for all French native and non-native speakers, companies.
The meeting took place in Toong coworking space. First time I visited the place and I have been quite surprised by its style, furnitures, its art gallery. A place different from others that are sometimes a pale copy of some open space you would find in other countries or TV shows.
A talk to introduce the visit of French president, François Hollande in Vietnam with Martine Pinville: Minister of State for Commerce, Small-Scale Industry, Consumer Affairs and the Social and Solidarity Economy, attached to the Minister for the Economy and Finance and Philippe Varin: former head of PSA Peugeot Citroen (PEUP.PA), chairman of the board at state-owned nuclear group Areva (AREVA.PA) and Foreign Affairs.
A short discussion about the collaboration between France and Vietnam, its Balance Of Trade. Vietnam is a booming country, with a young population (60% is below 30 years old) as well an emerging place in South East Asia.
One domain is making noise, with huge IT infrastructure investment (networks, hubs, or kind of Vietnam Sillicon Valley) is the High Techs. Sutunam is part of one community with almost 1,500 members in 2016 and working hard to get the French Tech label, so called La French Tech Viet.
Philippe Varin remind every young entrepreneurs the importance of the start-ups and projects built by French citizen and French speakers entrepreneur. These projects are some kind of gold for small companies but also the huge groups (like Areva, nuclear group) that are expecting some disruption. Change in their process, management, way to create and innovate. All what we can find in these start-ups and young French Entrepreneurs.
A bright future is coming for Vietnam scene, which is trying to be in the International spotlight and lately with the visit of Sundar Pichai in Vietnam, CEO of Google.
But do not forget what the light hides. It is still not so easy to open and start in Vietnam, to follow all the updating rules, changing system. Sutunam has opened its first agency in Asia, Hanoi at the crossroads of big cities such as HCMC, Singapore, Hong Kong, Taipei, Shanghai, Beijing, Seoul and Tokyo where renting m2 prices are way too high to start. Quality services are also pricey and it takes time to train your collaborators to reach your expectations.
We also see so many start-ups or entrepreneurs failing, who have not been correctly advised, who are all alone on their path. It is important for every entrepreneur to find a strong and active community in one of the top SEA country if they want to establish, incorporate their company. A community is growing and I hope we will hear a lot about in the up coming months: the French Tech Viet !