The two online seminars, themed “Starting a Business amid the COVID-19 Crisis” and “Startups’ Path: Overheated or Sustainable Growth,” were held on the sidelines of the Viet Solutions 2021 Competition. 

The webinar themed "Starting a Business amid the COVID-19 Crisis" discusses the impacts of the COVID-19 pandemic on Vietnamese startups.

At the first seminar, participants discussed the impacts of the COVID-19 pandemic on Vietnamese startups over the past time. Particularly, in 2021 around 12,000 businesses, including startups, withdrew from the market each month.

Delegates frankly pointed out subjective and objective causes for the failure of these businesses. They said that apart from objective causes like the COVID-19 crisis, another major cause of business failure is the inability to catch up with market and technology trends. Facts show that some businesses have thrived despite the complicated COVID-19 pandemic situation with the support of digital technologies.

At this seminar, delegates also pointed out challenges confronting startups and put forward measures to help them develop in a sustainable manner. Support resources for startups were also given at the event.

Photo for illustration

At the second seminar, delegates experienced in the startup market affirmed the huge potential of Vietnam’s startup market and focused their discussions on advantages and disadvantages of overheated or sustainable growth.

They said that depending on the capabilities and visions of the founders, startups could make their choices between taking the opportunity to achieve overheated growth or following the path of sustainable development amid the complicated developments of the COVID-19 pandemic.

At the events, participants learnt about the role of contests for startups, including the Viet Solutions contest.

Viet Solutions 2021 is co-organized by Viettel and the Ministry of Information and Communications in a bid to seek creative solutions to social issues, contributing to successfully implementing the National Digital Transformation Strategy. The event also aims to help participating startups have access to financial resources and technological support.

During the contest, participating startups may receive comments from the jury to improve their products and seek cooperation opportunities with leading companies. 

Translated by Tran Hoai