Is Ho Chi Minh City a Good Place to Launch a Startup?

Where you start your company still matters – but sticking too closely to one location might limit what you’re able to build. In today’s startup landscape, geography shapes your path – but it doesn’t have to define your potential.

Ho Chi Minh City has emerged as a strong hub for entrepreneurship, offering access to funding, talent, and infrastructure. But with growing competition, rigid local programmes, and support often reserved for the most polished startups, relying solely on what’s nearby can slow you down – or hold you back.

In this article, we’ll explore what Ho Chi Minh City gets right – and where founders often run into friction. We’ll also show how EWOR offers an alternative: a global, remote-first platform that gives you access to funding, mentorship, and community – no matter where you’re based.

1. Access to Funding in Ho Chi Minh City

Funding is one of the most critical ingredients in building a successful startup – and Ho Chi Minh City offers a growing ecosystem of support. From venture capital firms to government grants and angel investors, founders in this region have several pathways to raise capital and gain early traction.

Ho Chi Minh City's early-stage funding scene is dynamic, attracting both local and international attention. Notable players include VC firms like Antler, which has a strong presence with initiatives like the Antler SEA Venture Launchpad, and regional investors such as Nextrans and VinVentures. The government actively supports the ecosystem through initiatives like Project 844 and the Saigon Innovation Hub, offering grants and resources for startups at various stages. However, challenges persist. While early-stage capital is relatively accessible, securing later-stage funding can be difficult domestically. The ecosystem has also seen a notable decrease in overall funding in 2024 compared to previous years, with seed and early-stage investments experiencing declines. Despite this, Ho Chi Minh City remains a key startup hub in Vietnam, particularly strong in sectors like fintech, edtech, and e-commerce.

A More Flexible Path Forward

In the wake of these challenges, founders don’t have to rely solely on local funding options. EWOR offers a more flexible path – providing up to €500,000 in early-stage capital But EWOR is more than a cheque. Our capital comes bundled with personalised support, investor-ready storytelling, and access to a network of over 400 active European investors – many of whom regularly participate in our Grand Pitch events. On average, EWOR fellows who complete the programme and pitch go on to raise €2 million in follow-on funding – over 10x more than founders from comparable European initiatives.

2. Innovation and Startup Culture  

Ho Chi Minh City has become a centre of innovation, with numerous tech hubs, coworking spaces, and accelerators that foster creativity and new ideas. The local startup culture is vibrant, with a growing community of entrepreneurs working together to push the boundaries of what’s possible.

Ho Chi Minh City boasts a vibrant and rapidly growing startup and innovation ecosystem, ranking as Vietnam's top hub and among the top 5 in Southeast Asia. The city has a high level of entrepreneurial activity, accounting for a significant percentage of the country's startups and hosting several unicorns. The ecosystem is supported by numerous coworking spaces offering flexible and affordable options for startups and freelancers. There is a strong presence of tech events, conferences, and networking opportunities throughout the year. While the ecosystem supports startups at various stages, there are programs specifically designed for early-stage ventures, offering mentorship, structured training, and networking tailored to their needs. Incubators and accelerators, including government-funded initiatives, provide resources and hands-on support, indicating a focus on nurturing early growth alongside support for more mature companies.

For many entrepreneurs, the energy and resources available in Ho Chi Minh City can provide the ideal environment to test new ideas and gain early traction. The collaborative atmosphere allows founders to connect with fellow innovators and build networks that can help their startups grow.

While the local startup culture is vibrant, the support founders actually receive can be hit or miss. VCs might offer funding but little time. Angel investors often give advice, but it’s scattered and inconsistent. What’s more, many accelerators rely on a one-size-fits-all model that doesn’t reflect the needs of exceptional founders. In fast-moving, competitive ecosystems like Ho Chi Minh City, standing out is hard enough – getting the right kind of support shouldn’t be.

The Alternative to Cookie-Cutter Programmes

Finding a programme that truly adapts to your journey, not the other way around, is rare. However, EWOR offers the kind of depth and flexibility that many local programmes simply can’t match. Instead of following a fixed curriculum, our fellowships are modular and tailored – giving you the right support at the right time, based on where you are in your journey.

But the real strength of EWOR goes beyond structure. Fellows often describe the community as the most unexpected – and valuable – part of the experience. As some have put it: “The real magic lies in the community: the kind of conversations, insights, and connections that lead not only to breakthroughs – but to lasting friendships with some of the most fascinating people they’ve ever met”.

3. Talent and Workforce Availability

One of the greatest assets of launching a startup in Ho Chi Minh City is access to a skilled and diverse talent pool. With universities producing top-tier graduates in technology, business, and other fields, startups can tap into a wealth of expertise to help grow their teams.

Ho Chi Minh City offers a strong talent pool for startups, fueled by a young, educated, and tech-savvy population. The city is home to over 80 universities, including notable institutions like Vietnam National University Ho Chi Minh City and Ho Chi Minh City University of Technology, which contribute significantly to the skilled workforce, particularly in technology and engineering fields. While there's a large pool of graduates, some skill gaps exist in advanced technical areas and soft skills like English proficiency. Local talent supports entrepreneurial growth through a strong work ethic, adaptability, and increasing English fluency. The city's thriving startup ecosystem, supported by government initiatives and incubators, provides a fertile ground for local professionals to contribute to innovative projects and receive mentorship. Ho Chi Minh City is recognized as a dynamic startup hub with a growing concentration of developers and engineers.

Like funding, competition for talent can be fierce, especially for highly specialised roles in fields like software development or AI. For startups looking to scale quickly, hiring the right people at the right time can be a challenge, leading some founders to look outside the region for remote talent solutions.

Get Global While Local

While hiring locally in Ho Chi Minh City can be competitive and slow, EWOR gives you instant access to a global network of exceptional talent. Built by founders for founders, the EWOR team has launched and exited companies worth over €12 billion – and they bring that experience directly into your venture. It's not just about funding or surface-level advice; it's akin to having a co-founder from day one. 

The team collaborates closely with you to refine your idea, challenge your thinking, and support you through real-world decisions – just like a hands-on partner would. Moreover, with EWOR’s exclusive co-founder pool, you can find the right person to build with, regardless of their location.

4. Infrastructure and Support Systems

Ho Chi Minh City boasts a strong infrastructure that supports the growth of new businesses. From modern office spaces to high-speed internet, entrepreneurs have access to everything they need to run their startups smoothly. Government policies may also provide tax breaks, legal support, and other incentives that make starting a business more attractive in this region.

Ho Chi Minh City offers a robust ecosystem for startups, featuring extensive infrastructure like co-working spaces, incubators such as Saigon Innovation Hub, and accelerators like Topica Founder Institute. These provide mentorship, training, networking, and funding access, helping startups navigate early growth stages. The city has significantly improved its support infrastructure, attracting talent and investment. Government initiatives play a crucial role. Project 844 aims to foster an innovative startup ecosystem nationally. HCMC specifically provides financial support for innovative projects across various stages (pre-incubation, incubation, acceleration) in priority sectors like fintech and e-commerce. Resolutions also focus on developing the innovation ecosystem and piloting special policies for startup growth. These efforts aim to position HCMC among the top global startup hubs.

But what looks good on paper often proves more complicated in practice. Bureaucracy can be time-consuming and opaque, especially for first-time founders unfamiliar with local laws. Incorporation takes longer than expected. Accessing public funding often means navigating slow processes, strict requirements, or hard-to-reach advisors. And operational costs – from accounting to regulatory compliance – can quickly eat into early budgets. 

A System That Moves With You

With access to expert guidance, practical legal resources, and a network of experienced entrepreneurs who’ve built across a range of regulatory systems, EWOR is well positioned to help founders navigate the bureaucratic and legal complexities that often come with building in Ho Chi Minh City. Instead of wasting time figuring things out alone, you’ll have the tools and support to stay focused on what matters most – growing your venture.

And while we’re remote-first, our support is anything but distant. Through in-person gatherings like the EWOR House, city-based meetups, and our twice-yearly Grand Pitch event, you’ll still build meaningful relationships with investors, peers, and mentors. It’s a system that helps you focus on building – not just dealing with paperwork.

Can Ho Chi Minh City Be Considered the Best Place to Launch a Startup?

There’s no doubt that Ho Chi Minh City provides a vibrant environment for startups, with access to funding, innovation, talent, and infrastructure that can help entrepreneurs build successful businesses. For many, it’s a strong contender for the best place to launch a startup, thanks to its growing entrepreneurial ecosystem and support systems.

Entrepreneurs in Ho Chi Minh City face significant competition in a thriving startup ecosystem. While the cost of living is relatively affordable compared to many global cities, rising input costs and the need for capital remain challenges for businesses. Regulatory issues and bureaucracy can also pose hurdles, with complexities in areas like licensing, foreign investment procedures, and inconsistent application of laws. Accessing capital and navigating tax regulations can also be difficult.

However, it’s important to remember that the location of a startup is no longer the be-all and end-all. In today’s digital age, location-independent options like EWOR allow entrepreneurs to access world-class mentorship, funding, and resources from anywhere in the world. Whether you’re based in Ho Chi Minh City or elsewhere, EWOR’s remote programmes are designed to support founders no matter where they are located.

So, while Ho Chi Minh City offers significant advantages, it’s worth considering options like EWOR that enable you to launch and scale your startup with global support – whether you’re in the heart of a bustling startup hub or working from a quiet corner of the world.

Image credits: by Andreas Brücker on Unsplash