Hoang Quoc Quyen, CEO of Vinfast Service, (centre, right) speaks at the Vietnam Young Leaders Forum in Ho Chi Minh City on December 14. (Photo: VNA)HCM City (VNA) - Start-ups should grasp market trends and make solid preparations in terms of planningand resources to ensure their future success, said participants at the Vietnam Young Leaders Forum in Ho ChiMinh City on December 14.
Nguyen Ba Diep, Vice Chairmanof MoMo, a leading mobile payment company, said next year would see “manychanges in the digital services market, especially in fintech, with many newmodels emerging.”
Vietnam’s fintech marketwas still young, and the market would gradually develop when there are manystart-ups, he said.
Technology had brought big changes to many sectors including education andtraining and finance, he added.
“Start-ups must alwaysinnovate to stay afloat in the market because your successful models today canbe imitated by other start-ups, so you need to be innovative and creative tocome up with new models.”
Quyen said start-upsusually developed products and services for customers in big cities like Hanoi andHCM City. This should change and they should focus more on exploiting marketsin provinces and rural areas.
Delegates also emphasised the need for start-ups to collaboratewith large firms during the development process.
The two should worktogether to leverage their strengths and develop together, they said.
Hoang Quoc Quyen, CEO ofVinfast Service, said start-ups often hesitated to reach out to large companiesand wanted them to be “more active in contacting leaders of ‘elephants’.”
Organised by the Business Start-up Support Centre (BSSC) in collaboration withthe Young Businesspeople Association of HCM City, the forum, themed “Start-up2019: What’s Next?,” attracted over 500 delegates, including company chiefs anduniversity students.
The forum aimed to create opportunities for young leaders to learn fromsuccessful Vietnamese start-ups. This would inspire entrepreneurship and apositive mindset in the younger generations.-VNA
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