Ready for the Launching Ceremony: Young Entrepreneurs Startup Incubator
🌿In just a few hours, one of the biggest events for young entrepreneurs - The Opening of the Young Entrepreneurs Incubator (YESI) will start. Let the event's diamond sponsor - BSCStation tell you the themes of the event:
I. Market Context
1. Vietnam is an emerging startup market with the best growth potential in the region. The country's GDP is forecast to grow at a rate of 4% in 2021, the highest in Southeast Asia. Foreign capital inflows into the country are estimated at about 20 billion USD despite the negative impact of the COVID-19 pandemic.
2. The legal framework for Vietnam's digital economy has been established and gradually improved. This, coupled with Vietnam's efforts to improve the investment environment and reduce administrative procedures, helps attract more investment capital to the local start-up sector.
3. According to Golden Gate Ventures' Southeast Asia 2.0 Startup Ecosystem Report released earlier this year, Vietnam will emerge in 2022 as the third largest startup ecosystem in Southeast Asia alongside Singapore and Indonesia. Vietnam has consolidated its growing position in the region. In 2022, the number of venture capital funds focusing on Southeast Asia will put more effort into early stage investments in Vietnam and will continue to increase over the next 10 years.
4. Early-stage funding in 2021 accounted for 56% of all fundraising for the year and a total deal value of just over $6 billion - eclipsing the total raised in each of the previous two years. This highlights continuing opportunities in this area and will be a catalyst for new innovators to enter the growing Metaverse, NFT, DeFi and Web 3.0 space.
II. CURRENT MARKET'S PROBLEMS
The current blockchain application technology market is facing a lot of unresolved problems. In which the following issues will be the main and most obvious ones:
1. In the current market, there have not been developed ecosystems to encourage the application and development of blockchain technology to life. In addition, state agencies have not really pioneered the application of Blockchain in state management and provision of public services.
2. The legal corridor for blockchain and ICO activities is still unclear in many countries in general and Vietnam in particular. There are no regulations for digital asset management on the system and platforms.
3. There are many fraudulent projects, impersonating blockchain technology applications to appropriate user assets.
4. Despite being interested in this advanced technology, most investors have not yet invested in projects. The market currently lacks development investment funds for application projects, because there is no individual or organization to lead, combined with the lack of funds and human resources, many potential projects are abandoned. immersed in other big projects
III. The Establishment of Young entrepreneur start-up incubator
Our Goal: To become a place to exchange, learn and exchange information, knowledge, and create a virtual digital community in Vietnam.
BSCStation is honored to have our CEO - Mr. Tuan Anh (a.k.a Mr. Scofield) as Vice Executive President of the Incubator.
🌿The role of the incubator
1. Building an ecosystem: supporting innovative startups/businesses.
2. Gathering and connecting resources to support businesses/startups including: Legal, administration, technology, media, advertising, market development, domestic and foreign supply chains, finance, accountant, project manager, human resource, consultant.
3. Linking with domestic and foreign organizations, business associations, ministries and agencies to strengthen ecosystem support.
4. Developing a dedicated and professional mentor community.
5. Organizing sharing workshops, short courses, education/training programs for young businesses.
6. Incubate, raise capital, support and promote the development of start-ups.
7. Support digital transformation for traditional businesses to technology-based businesses.
💚See you soon!💚