One Thousand And One Stories About Innovation

It has turned out that there are many interesting stories in the market when talking about potential technological solutions that help Vietnam gain more highlights in the map of the startup ecosystem. Open innovation is such a wonderful “material” that many exploits have appeared, and this is an essential trend in the future.

Startups with fully potential innovation solutions become a “hero” for businesses having difficulties in the digital process

Generally, open innovation is an essential trend when all of them develop together on the basis of collaboration and openness. Startups are not small and easy-to-fail businesses in the market. When it comes to startups, we can think about interesting business models with unique and updated solutions, which serve the purpose of solve “new math exercises” in the market.

Technology businesses and startups have been gradually proving their position through outstanding flexibility and wits, becoming a direct competitor with traditional models and apprehension of innovation. Therefore, innovation models was developed as an essentail solutions so that startups have a chance to introduce their solutions in their target market. Other businesses also meet their “hero” and promote their innovation speed. It can be seen some stories such as: 

• The way that DeltaTrainer helped Anytime Fitness – one of the largest gym chains in the world
• Toyota opened to gain more ideas to develop their products
• Audiobook application collaborate some traditional publishers in Vietnam 

Vietnam – a country having many outstanding startups with growth potential to become Unicorn

Vietnam is one of the dynamic economies and a development hub for innovative startups in the Asia-Pacific (APAC) region. According to a Google report, the “unicorns” – startups valued at over $1 billion in the APAC region are making a significant impact across the region, especially in technology applications (e.g. Grab). It is predicted that investment capital in Vietnamese startups in 2022 can reach 2 billion USD. 

Unicorn is a familiar term that refers to technology startups valued at over 1 billion US dollars. With 4 technology unicorns including VNG, VnPay, MOMO and SkyMavis, on the regional map, Vietnam ranks third, behind Singapore and Indonesia in number of unicorns. 

Recently, Forbes Vietnam has just reviewed Vietnam’s unicorns, soonicorn companies and promising startups that create a unique business model or competitive advantage that can go far. 

A tipping point for Vietnam startup ecosystem with increasingly more investment highlights for technology startups

Investment in technology start-ups in Vietnam in the next period is expected to record more impressive new imprints when the Startup & Innovation Ecosystem is having a lot of potential and driving force to promote the growth. strong growth. COVID-19 is both a challenge and a favorable opportunity for start-ups to change and develop rapidly, especially in the healthcare, education, meeting applications or online commerce transactions,… take the throne even permanently changing future consumption habits around the world.

Currently, many Vietnamese startups with potential solutions are able to launch products and services with high technology content. One of the Vietnamese technology solutions that is recognized and positively received in the market is Palexy’s Artificial Intelligence – “Google Analytics” of retail stores. Palexy helps brick-and-mortar retailers implement the “success formula” of e-commerce, which is to leverage their customer data to return to serve those same customers. For brick-and-mortar retailers, the first step is to digitize operations. Capture each behavior that customers perform in the store. This whole process is then analyzed through AI and computer vision technologies that Palexy developed and perfected itself.

Large enterprises also gradually realize the important role of innovation and investment and application of new ideas in their operations. Innovative ideas and solutions not only help businesses realize their top goal of optimizing profits in a new way, but also a way for businesses to keep up with new needs & trends. the constant transformation of the market.

>> Read more about Vietnam Innovation Landscape Report 2021 at: https://report.bambuup.com/