[ May 3, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (DECEMBER 2023)

12_december_2023

SAVVI HIGHLIGHTS

Founder Spotlight:  No Spotlight this month due to the holidays

Network News:  Golden Gate Ventures, Quest Ventures, BUYO

Funding:  Inflow, Prep, Namitech, Vntrip

Vietnam Tech and Startup Environment: Local brand expansion overseas, FDI, market conditions, and more

Vietnam Film and Music Industry News: Box office expansion, recent film successes, film festivals, and more

Network Posting: Marvell looking to hire analog designer

DID YOU KNOW?

Vietnam generates two-thirds of ASEAN’s renewable energy After Singapore, Vietnamese startups raise the most money in Southeast Asia Vietnam is the most searched country in the world by Indians

HAPPY HOLIDAYS FROM SAVVI

Dear SAVVi Community,

We’d like to take this opportunity to extend our warmest holiday wishes to each and every one of you. We hope this holiday season brings an abundance of joy and cherished moments.

May this holiday season bring you many moments of laughter and fun. May the New Year usher in a life of health and prosperity. Dream and dream big!

Thank you for being a part of the SAVVi family. We’ll see you in 2024!

 

Warm regards, The SAVVi Team

SAVVI NETWORK NEWS

UPDATES

Golden Gate Ventures
According to experts from Golden Gate Ventures, in a challenging year for most economies, Vietnam has shifted its economic development into high speed, asserting itself as the new economic growth center. Speaking at the 2023 Vietnam Innovation Investment Fund Forum that took place on October 30, Deputy Minister of Planning and Investment (MPI) Tran Duy Dong said that Vietnam is facing many challenges and mixed opportunities. According to him, despite the unpredictable difficulties of 2023, Vietnam has attracted more than 20 billion USD in foreign direct investment (FDI) in the first 9 months of the year, an increase of 7.7% over the same period last year. Along with that, Vietnam is making continuous efforts to improve the investment environment to attract FDI capital and develop mechanisms to support the innovation and digitalization ecosystem. Policies and partnerships are key to helping Vietnam’s economy stay on track according to the National Master Plan for the period 2021 to 2030. Assessing the Vietnamese economy, Mr. Vinnie Lauria, Founding Partner of Golden Gate Ventures Fund, said that in a challenging year for most economies, Vietnam has shifted its economic development direction to a faster pace, affirming itself as the new economic growth center of Asia. According to him, with a solid position in the global supply chain and continuously receiving investment from multinational corporations, the innovative startup ecosystem is growing strongly, nurturing the desire for change.

Quest Ventures

On the afternoon of November 23, at the National Innovation Start-up Festival (Techfest-Whise 2023) that took place in Ho Chi Minh City, Department of Science and Technology signed a cooperation agreement with Quest Ventures. Collaborative activities include: training and coaching the angel investment fund network, startup accelerator incubation courses, promotion and connection in the field of innovative startup ecosystems. In addition, the Department of Science and Technology of Da Nang City will support workspace for Quest Ventures in Da Nang at Vietnam Innovation Hub. The cooperation between the two parties is an opportunity to learn, share experiences, connect and develop the innovative startup ecosystem in Da Nang; At the same time, it brings the potential to attract international investment capital, promoting innovation and creativity in the local startup community in the coming time. Quest Ventures venture capital fund is headquartered in Singapore. To date, Quest Venture has invested in more than 100 startups in Asia, of which 3 startups have become technology unicorns, valued at $1 billion or more. At the signing ceremony, representatives of Quest Ventures Investment Fund expressed their desire to support and improve the capacity of start-up businesses in Da Nang city, giving portfolio companies access to the international capital market and ecosystem of the fund.

BUYO

BUYO Bioplastics, a Vietnamese startup, has developed technology to convert organic waste into a new kind of material that can replace plastics. This bioplastic product is 100 percent organic and can decompose in a natural environment. Bioplastics are safe to the environment and human health. They contain features of normal plastics and have reasonable production cost. BUYO Bioplastics’ CEO Do Hong Hanh said the most popular organic waste the company uses is brewer’s grains discharged during beer production, and other types of waste from seafood processing. Hanh shared that this is new pioneering technology that has been developed entirely by BUYO’s experts and scientists. BUYO has applied for two patents on bioplastics and is preparing to file two more applications. During the process of developing the product, BUYO received support and consultancy from AB InBev, the world’s largest brewer with a brewery in Binh Duong, as well as from the HCM City Biotechnology Center and the HCM City University of Natural Resources. What differentiates BUYO’s bioplastics from other products is the materials used. All of the materials are organic waste, with no petroleumorigin materials. Also, it doesn’t use starch so the production won’t harm the nation’s food security. Hanh said that bioplastics are degradable in the natural environment and will disintegrate entirely within 3-12 months, while normal plastics need 500 years to fully decompose. The product doesn’t create microplastics. BUYO’s bioplastics production consumes little energy, and organic waste is recycled during the bioplastics production, so it helps minimize carbon emissions and reduce the volume of waste. Another plus of the product is that it has features similar to normal plastics, while its production cost is reasonable. Bioplastics made of brewer’s grains have production costs equal to plastics made of paper and bagasse, and it is more waterproof and heat resistant. After two months of research and development, BUYO has successfully called for $750,000 worth of capital from international venture investment funds. The startup is running a factory in the pilot period with capacity of 10 tons of bioplastics a month in HCM City. It plans to increase production capacity to 100 tons a month in 2024. Vietnamese consume $12 billion worth of plastic products each year, so BUYO’s products have great potential in the Vietnamese market.

FUNDING

Inflow
Inflow, a Vietnamese fashion supply chain platform, aims to further revolutionize the country’s textile and garment industry. The startup company recently received $2 million in seed funding, aiming to further assist Vietnamese small fashion brands bring their designs to life.

Prep
Prep, a Vietnam-based standardized language test preparation platform, is in talks to raise around $6 million in a new funding round. Southeast Asian private equity major Northstar Group is understood to be in talks to invest in the company, according to multiple sources aware of the development.

NamiTech
Vietnamese voice biometrics and natural language processing developer Namitech has secured a US$2 million pre-Series A funding round. The round was led by Thien Viet Securities (TVS), a Vietnamese brokerage house known for backing local e-wallet unicorn MoMo and fintech service Finhay. The Ho Chi Minh-based company, also known as Nami Technology, offers a biometric voice authentication product called VoiceDNA as well as voice analyzing and customer service audio solutions.

Vntrip
Vietnamese travel startup Vntrip said it has secured an undisclosed new funding round from Ctrip co-founder Fan Min and existing investors. Prior to this round, Vntrip had raised over US$20 million from investors such as John Wu, the former CTO of Alibaba, Swiss private bank IHAG, and Hong Kong’s Hendale Capital.

VIETNAM TECH AND
STARTUP ENVIRONMENT

” Vietnam accounted for 69% of ASEAN’s solar and wind generation last year and was the region’s main growth driver in renewable energy development in recent years, a report has found. Vietnam’s share of renewable electricity generation led the 10-country bloc last year at 13% and it was followed by Cambodia, Thailand and the Philippines, according to a report released last week by U.K.-based energy thinktank Ember.”

“Nvidia (NVDA) CEO Jensen Huang reportedly said the company plans to strengthen the company’s partnership with Vietnam’s top tech firms, focusing on artificial intelligence (AI) talent development and digital infrastructure enhancements. Speaking at an event in Hanoi Monday, in his first visit to the country, Huang said Nvidia would expand ties with several Vietnamese companies including Viettel, FPT, Vingroup, and VNG.1 Yesterday, Huang also expressed interest in setting up a second base for Nvidia in Vietnam.”

“According to Nikkei Asia, Apple is working with China’s BYD, a key iPad assembler, to move new product introduction (NPI) resources to Viet Nam. NPI involves a tech company like Apple collaborating with suppliers on the design and development of new products to make sure the blueprints are doable. This is the first time Apple has shifted NPI resources to Viet Nam for such a core device.”

“Kim Kyung Hwan, CEO of Hyosung Vietnam, revealed that the carbon Vietnam fiber plant situated in Phu My II Industrial Park is progressing significantly. This project underscores Hyosung’s commitment to pioneering advanced material production. The proposed biotech fiber facility, to be located in the Phu My 2 Industrial Zone, represents Hyosung’s first global foray into using ecofriendly technology for Spandex fabric production. This initiative aligns with the group’s broader strategy of diversifying its manufacturing portfolio and reinforcing its environmental commitments.”

“FPT, Vietnam’s leading tech firm, announced the establishment of an automotive technology subsidiary in Texas, with a $100 million investment to expand globally to serve clients such as Hyundai and Honda. “We anticipate a total investment of $100 million in the next five years, at a minimum,” FPT Software CEO Pham Minh Tuan told Reuters. “The company will prioritize strategic markets, including the United States, Europe, Japan, South Korea, China, India, and Vietnam,” he added. Separately, the FPT chairman stated that the company would continue to expand globally but that there were no urgent plans to go public in another country to acquire capital.”

“Global e-retail giant Amazon will make Vietnam an emerging link in its global e-commerce supply chain, as the Southeast Asian country has become increasingly prominent as a major manufacturer regionally and internationally, said Eric Broussard, vice-president of worldwide Amazon global selling and international seller services. Broussard made the statement after his business meetings with a number of Vietnamese entrepreneurs, sales partners, and service providers during his recent visit to Vietnam.”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Broadcast Music Inc. (BMI), the music licensing agency that represents thousands of songwriters, has announced that it will sell to the private equity firm New Mountain Capital, The New York Times reports. Terms of the deal have yet to be disclosed; in August, Billboard cited sources claiming the deal could be worth $1.7 billion. The sale needs to be approved by shareholders and undergo “customary regulatory approvals.” The two sides expect the deal to close by the end of 2024’s first quarter.”

“It’s becoming a critical market for us in terms of collaborations. Every year we launch Call for Proposal for feature films and one of the categories of that is the Southeast Asian Co-production grant, we provide 300,000 dollars for every successful project that we award, but the condition is that it must have a Singapore talent involvement as well as Southeast Asia representation. In the last few years, what we’ve noticed is that increasingly our Singaporean talents have been collaborating with Vietnamese talents. This year, one of the projects that we had awarded was a Singapore-Việt Nam co-production, and we are eagerly expecting that it will be a good production. For example, Inside the Yellow Cocoon Shell, that’s a Singapore-Việt Nam co-production, among others. So we see Vietnamese talent definitely up and coming, especially in the film industry.”

“Judy Song, the daughter of South Korean actor Song Kangho, known for his roles in “Parasite” dedicated three months to learning Vietnamese in preparation for her role in the film “White Butterfly.” Portraying May, a Vietnamese-Korean woman raised in the U.S. who travels to Vietnam after learning of her mother’s death, Song delivers fluent Vietnamese and English dialogue in the film. Her Vietnamese was said to be smooth and emotional. Commenting on the film, Song said May’s story resonated with her own life, as she was also born in South Korea but relocated to the U.S. from a young age. She also recognized how the Vietnamese and South Korean cultures shared similarities.”

“The second Da Nang Asian Film Festival (DANAFF II) will be held in the central coastal city of Da Nang from July 2 to July 6, with the event attracting the participation of leading filmmakers from throughout the Asian region. The event aims to select and honour excellent cinematographic works, encourage talents from both Vietnam and throughout the Asia-Pacific region, and widely introduce new and high-value Asian and Vietnamese cinematographic works to the public. Entries will compete in the Asian films category which is to be decided by an Asian judging panel, as well as the Vietnamese films category judged by Vietnamese experts.”

“The year 2023 marks an important milestone in the history of Vietnam’s cinema when film director Pham Thien An won the Camera d’Or (Golden Camera) for ‘Ben Trong Vo Ken Vang’ (Inside the Yellow Cocoon Shell). 2023 has also been a special period when a Vietnam-made film Nha ba Nu (The House of No Man) saw record high revenue of VND475 billion. The film, hitting screens on Tet holiday, sold 5.8 million tickets. Prior to that, in March 2021, Bo Gia (Dad, I’m sorry), became a phenomenon when it attracted people back to cinemas after the Covid-19 pandemic. As many as 5.2 million tickets were sold which brought revenue of VND427 billion. The appearance of successful movies has heated up the film industry and put filmmakers in high spirits.”

“Hollywood performers in the union SAG-AFTRA have voted to ratify a new three year TV/theatrical contract with major studios and streaming companies. The deal with Netflix, Amazon, Warner Brothers, Universal, Disney and other studios was made last month after a 118-day strike.”

NETWORK POSTING

From Marvell

Marvell is looking for a top analog designer willing to relocate to Vietnam to build a team. Currently Marvell has 2 design centers with about 300 engineers in HCM city.
Marvell is aiming to increase the workforce by 50% in 3 years. Qualifications:

1. High speed AA along design , Serdes, validation
2. 15+ years of experience
3. Track record of successful product development
4. Leadership skills
5. Speaks Vietnamese and English fluently
6. Willing to relocate to VN
7. MS or PhD in EE

Please email SAVVi Code at contact@savvicode.com with the subject line: MARVELL Analog Designer, if you’re interested and/or have referrals.

STRATEGIC ALLIANCE VIETNAMESE VENTURES INTERNATIONAL

VENTURE CAPITAL ORGANIZATIONS IN VIETNAM

Antler
Website: antler.co
Contact: https://www.linkedin.com/in/jonssonej/
Pre-seed to Seed
Every sector

Ascend Vietnam Ventures
Website: https://ascendvietnam.com/
Contact: contact@ascendvietnam.com
Every sector
Pre-product market fit

Cocoon Capital
Website:cocooncap.com
Contact:will@cocooncap.com
Seed Round, Series A, Series A
AI, Enterprise Application, Fintech, Insurtech, SaaS, Machine Learning

Do Ventures
Website: https://doventures.vc/en
Contact: https://doventures.vc/en/contact
Early stage
Every sector

East Bridge Partners
Website: https://www.eastbridge.asia/
Contact: info@eastbridgelp.com
Mid-cap investment
Every sector

Gaw Capital Partners
Website:http://gawcapital.com
Contact:info@gawcapital.com
Real estate sector

Golden Gate Ventures
Website: goldengate.vc
Contact: hello@goldengate.vc
Early stage, series A, B
Tooling, consumer apps, SaaS, logistics, e-commerce

IT-Farm
Website: https://www.it-farm.com/
Contact: https://www.linkedin.com/company/it-farm-ltd/about/
Seed to series A
IT

Jungle Ventures
Website: https://www.jungle.vc/
Contact: contact@jungle.vc
Pre-seed, seed, series A
Technology startups

Monk’s Hill Ventures
Website: monkshill.com
Contact: ir@monkshill.com
Series A
Technology startups

Patamar Capital
Website: https://patamar.com
Contact: https://www.linkedin.com/in/geoff-woolley-b0665/
Technology startups

Quest Ventures
Website: https://www.questventures.com/
Contact: info@questventures.com
Seed to Series A
Multi

SoftBank Ventures Asia
Website: softbank.co.kr
Contact: b_plan@softbank.co.kr
Enterprise Software, Mobile

ThinkZone Ventures
Website: thinkzone.vn
Contact: contact@thinkzone.vn
Seed, pre-series A
Fintech, Edtech, Logistics, Ecommerce, Nanotech, Lifestyle, Service

Trihill Capital
Website: https://www.trihillcapital.com/
Contact: INFO@TRIHILLCAPITAL.COM
Early to growth-stage
Solution-oriented companies and transformative founders across sectors and stages.

Vietnam Investments Group
Website: https://ventures.vinacapital.com/
Contact: investment.vc@vinacapital.com
Multi

VinaCapital Ventures
Website: https://ventures.vinacapital.com/
Contact: investment.vc@vinacapital.com
Multi

Wavemaker Partners
Website: https://wavemaker.vc/
Contact: pitchsea@wavemaker.vc 
Seed Round
Tech

Full List Coming Soon To https://www.savvicode.com/

FILM AND MUSIC ORGANIZATIONS IN VIETNAM

Southern Star Creatives Foundation (SSCF)
Website: https://www.southernstarcreatives.org/
Contact: christianallyn2000@gmail.com 
Type: Nonprofit, film funding, documentary funding, music funding, etc

POPS
Website: https://popsww.com/en/
Contact: https://popsww.com/en/about/#contact-us
Type: Streaming, network, studio.

Bamboo Artists Agency
Website: https://bambooartists.agency/
Contact: +84 79 789 1168
Type: Talent agency.

Xine House
Website: https://www.facebook.com/xinehouse
Contact: we@xinehouse.com
Type: Community, industry education.

Sunwolf Animation Studio
Website: https://www.sunwolfstudio.com/
Contact: leodinh@sunwolfstudio.com
Type: Animation studio

Autumn Meeting
Website: https://www.facebook.com/autumnmeeting
Type: Cinema event.

Full List Coming Soon To https://www.savvicode.com/

AboutNguyen Phan