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Vietnam’s youth startups

13/12/2024

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Vietnam’s youth startup ecosystem attracts $529M in 2024

Vietnam’s youth startup ecosystem has attracted US$529 million in venture capital funding this year.

Most young entrepreneurs fall within the 16 to 35 age range, with the largest group being those aged 30 to 34 (around 6.6 million people), according to the National Study on the State of the Ecosystem for Youth Entrepreneurship in Vietnam.

The study notes improving policies to support young entrepreneurs and the rapid advancement of technology and innovation as key drivers for the start-up ecosystem. However, barriers remain, including complex administrative procedures, limited collaboration among stakeholders, skill gaps and low risk tolerance among young entrepreneurs.

The research was conducted by the University of Economics HCMC and Youth Co:Lab Vietnam, which is co-created by the United Nations Development Programme and the Citi Foundation.

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