KVSA - Korean Vietnam Startup Association is a cooperation network to connect innovation ecosystems, promote technology commercialization and support capital raising between startups in the two countries. The Alliance currently has 34 members, with diverse roles in the startup ecosystem including:
- Government startup support organizations: Global Green Growth Institute (GGGI), National Innovation Center (NIC), Swiss Entrepreneurship Program (SwissEP), Korea International Cooperation Agency (KOICA), Korea IT Cooperation Center (KICC),...
- Organizations supporting the ecosystem: Startup Vietnam Foundation (SVF), InnoEx, HUB Network, BambuUP,...
- Startup investment fund: ThinkZone Ventures, Touchstone Partners, Lotte Ventures,...
ThinkZone is honored to participate in KVSA for the third consecutive year, with the role of actively exchanging, sharing experiences, connecting and cooperating with startups, investment funds, and partners, to promote investment/cooperation activities between the two countries.
At the forum "Connecting Innovation, Creating Opportunities – Two Nations, One Growth", ThinkZone also met and shared market experience with technology startups from Korea that are planning to expand to Vietnam.
ThinkZone believes that Korean startups bring new technology that can effectively solve many unanswered market problems in Vietnam. However, the big challenges when Korean startups enter the market include (i) the ability to adapt products to market characteristics, infrastructure, and usage behavior of Vietnamese people, (ii) adjusting prices to suit local spending power, and (iii) finding reliable domestic partners with effective distribution channels to help startups enter the market at low costs.
With many years of investment and technology cooperation experience, ThinkZone has shared information to help Korean startups understand more about the Vietnamese market, from which they can build a suitable market entry strategy.
We hope that KVSA will continue to operate actively, connect more meaningful cooperation, and jointly develop the Vietnam - Korea startup ecosystem.