Đà Nẵng summit connects startups with investment funds

May 31, 2024 - 22:54

The Đà Nẵng Venture and Angel Summit (DAVAS) 2024 kicked off in the central city on Friday, aiming to create a chance for startup projects to access investors and investment funds.

The Đà Nẵng Department of Science and Technology and KILSA Global sign a cooperation deal at the Đà Nẵng Venture and Angel Summit (DAVAS) 2024 on Friday. — VNA/VNS Photo

ĐÀ NẴNG — The Đà Nẵng Venture and Angel Summit (DAVAS) 2024 kicked off in the central city on Friday, aiming to create a chance for startup projects to access investors and investment funds.

The two-day event also aims to connect elements of the local startup ecosystem and help form a community of angel investors and venture funds in Đà Nẵng.

Held for the first time in the city, it gathers about 10 large domestic and foreign investment funds, including Quest Ventures, Do Ventures, TheVentures, TRIVE Singapore, BK Fund, and FundGo, along with about 30 startup projects and businesses.

Dương Hoàng Văn Bản, Deputy Director of the municipal Department of Science and Technology, said Đà Nẵng has been working hard over the past years to develop the local startup and innovation ecosystem. It is coordinating with the Ministry of Science and Technology to establish a national startup support centre in the city.

The startup and innovation system of Đà Nẵng is growing, and some local startups have succeeded in raising millions of US dollars in capital, he noted, adding that the city hopes more major enterprises, investment funds, angel investors, experts, and scientists will come to support startups.

James Tan, a representative of Quest Ventures, considered Đà Nẵng one of the localities with good performance in connecting and helping startups raise capital, citing the presence of many big enterprises at DAVAS 2024 and their readiness to buy the services and products of startups.

He expressed his hope that the city will continue to successfully attract many large firms to the local startup and innovation network.

Đà Nẵng is home to many universities and institutions specialised in training and seeking research and innovation talents, which is also a considerable resource for it to develop startups and innovation, according to Tan.

Activities at DAVAS 2024 include raising capital for startup projects and companies, connecting investors and startups, holding three investment forums on startup and innovation, signing a cooperation deal between the municipal Department of Science and Technology and KILSA Global, and launching an innovation cooperation space of Quest Ventures in Đà Nẵng. — VNS

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