Sci-Tech

Vietnam ranks second in GenAI Startups in ASEAN

Vietnam ranks second in ASEAN for the dynamism and growth of startups in Generative AI (GenAI), according to the 2024 ASEAN GenAI Startup Report.

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Denning Tan, Director of the GenAI presents 2024 ASEAN GenAI Startup Report. (Photo: Vietnam+)

Hanoi (VNA) - The report, presented on September 19 at an event in Hanoi co-hosted by the GenAI Fund, Amazon Web Services (AWS), Databricks, and Vietnam's National Innovation Center (NIC), offers insights into the rapidly growing GenAI ecosystem in Southeast Asia.

Denning Tan, Director of the GenAI Fund, explained that the report is based on a survey conducted in six ASEAN countries, highlighting trends, opportunities, and resources shaping the future of GenAI.

It offers data-driven insights for startups, government agencies, and businesses on how GenAI is transforming industries across the region, with Vietnam emerging as a key innovation hub.

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The launch event for the first ASEAN GenAI Startup Report in Hanoi. (Photo: Vietnam+)

Do Tien Thinh, Deputy Director of NIC, emphasized that AI is a foundational technology of the Fourth Industrial Revolution, crucial for boosting productivity, enhancing national competitiveness, and fostering sustainable economic growth. Generative AI is driving unprecedented breakthroughs, opening limitless possibilities across sectors such as healthcare, education, and agriculture.

Recognizing AI’s importance, the Vietnamese government has implemented several policies to promote AI research, development, and application. The Ministry of Planning and Investment has submitted a proposal to the Prime Minister to develop human resources for the semiconductor industry by 2030, with a target of training 5,000 engineers specializing in AI for the semiconductor sector.

Additionally, a specialized AI Training, Research, and Application Center is planned to foster startups and advanced research, aiming to train 7,000 AI experts and incubate 500 AI startups by 2030.

Thinh highlighted these proactive steps as part of Vietnam’s ambition to become a leading hub for AI innovation and application in ASEAN and globally.

At the event, three pioneering GenAI startups in Vietnam presented their innovative applications across various industries. Reforged Labs shared GenAI solutions for game marketers, Lex Engine introduced legal industry tools powered by GenAI, and Laka.ai showcased an AI-powered travel planning platform.

The GenAI Fund, the first Southeast Asia-based fund dedicated to Generative AI, was established with an initial capital of $10 million by Laura Nguyen and Denning Tan, both former AWS executives who played key roles in building AWS's startup ecosystem in the region. The fund focuses on early-stage GenAI startups, emphasizing strategic growth and future market opportunities./.

#GenAI Startups #2024 ASEAN GenAI Startup Report #GenAI ecosystem in Southeast Asia #Vietnam's National Innovation Center
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