The decision to enter foreign markets is not necessarily too ambitious for start-ups, because ICOS – a company specializing in investment consulting and international business establishment, can support Vietnamese startup platforms. Male.
According to a report by the global startup community support organization Start-up Genome, startups with international relationships and business ideas abroad will grow in revenue higher than businesses. domestic vision only.
Start-ups flourished from project 844
The project “Supporting the national innovative startup ecosystem until 2025” (Project 844) issued by the Prime Minister for 7 years has brought positive effects to the start-up community. The number of investment funds participating in activities in Vietnam has also increased sharply by about 60% and is evenly distributed across countries. In 2021, Vietnam is a country with a very high number of investors, second only to Singapore. Investment capital is forecasted to reach 2 billion USD by 2022.
Up to now, the Vietnamese startup community has mainly followed the model of copying technology and bringing it to the domestic market or developing suitable solutions from the beginning of large corporations, but this trend has changed in 2019, with the startup community welcoming unicorn start-ups. Startups are like truly independent companies with their products, markets, and customers.
Vietnamese start-ups are young people with good ideas and many ambitions, but in addition to lack of capital, they also face many difficulties in gradually approaching important stages such as research and development (R&D) or opening a business. market-wide. Especially start-ups that do not have a specific strategy because they do not understand the importance of expanding into such an influential market… These start-ups need to bring their products and business platforms to the world. rather than restricting the scope of domestic competition.
Cross-border startups
Unlike previous phases of economic restructuring, the Fourth Industrial Revolution, with the advent of digital media, has opened the door to transforming many aspects of life. , from the way we work, learn, and communicate and the way people entertain themselves with connected activities.
Technologies that support workplace virtualization and help with remote contracting are gaining popularity. This is a critical time when most people around the world must learn to adapt to the digital experience, whether it’s working from home or learning online, or shopping online.
Shark Le Hung Anh, appearing in “Shark Tank” season 5, always points out the solution to help Vietnamese start-ups exploit the resources of the international market to become a springboard for success and reach out to the world. He said that many products of Vietnamese startups have great potential such as processed food, agricultural products, and tourism … but have not been promoted to international marketing, promotion, and sales, which is a waste. big. With the right offshore investment consulting strategy, the success rate of startup projects will be higher and develop faster.
Looking objectively at Vietnam’s foreign investment situation, with the domination of domestic companies and increasing competition from foreign rivals, many generations of Vietnamese startups have self-capital formation. In addition, they also focus on building a solid core technology foundation to gain certain competitive advantages.
To succeed in the international market, start-ups must quickly grasp trends, have a suitable foreign business idea, and be well prepared about the potential and specifics of the market.
ICOS accompanies Vietnamese start-ups to the world
ICOS shares similarities with Vietnamese tech start-ups, despite being a company focused on technology development and digital transformation strongly in recent times. Especially with the experience of consulting to establish foreign businesses, ICOS will be the bridge to help start-ups not be surprised when they go to the “big sea” for the first time.
The resources that can be used when doing business in the international market can be followed: Good technology start-up support policy; Quick company establishment policy, clear and clear regulations; Good support for IPO and divestment activities of enterprises; Learning new technology platforms from the startup community in advanced countries.
ICOS – the motto is committed to providing solutions in establishing the most suitable business structure, ensuring compliance with all legal regulations of the host country and international law. The costs are optimally designed for the customer.
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