Is Vietnam 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.

Vietnam 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 Vietnam 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 Vietnam

Funding is one of the most critical ingredients in building a successful startup – and Vietnam 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.

Vietnam's early-stage funding environment is dynamic but faces headwinds. While the ecosystem has grown significantly, attracting attention from both domestic and international investors, there's been a notable decline in overall VC investment in recent years. Early-stage funding specifically saw a substantial drop of 47.3% in 2024 compared to 2023, and seed-stage investments also decreased by 32.4%. Despite this, Vietnam remains a key startup hub in Southeast Asia. Notable VC firms active in the early stage include CyberAgent Capital, 500 Global, and Genesia Ventures. Others like AVV (Ascend Vietnam Ventures), Vietnam Silicon Valley, and Seedcom also play a role in pre-seed and seed rounds. The government supports startups through initiatives like the National Technology Innovation Fund (NATIF) and the National Innovation Center (NIC), offering grants and support programs. Angel networks like Vietnam Angel Network (VAN) are also working to build the ecosystem. Challenges persist, including a seed-stage funding gap where many startups struggle to secure initial capital despite being in the formation stage. Navigating the evolving legal and regulatory framework can also be complex for investors and startups alike. Despite the recent slowdown, the long-term outlook remains positive, with projections showing significant growth in investment expected between 2025 and 2030.

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  

Vietnam 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.

Vietnam has a rapidly growing startup and innovation ecosystem, recognized as a hotspot in Southeast Asia. Entrepreneurial activity is high, with a strong cultural support for starting businesses. The ecosystem includes over 200 coworking spaces and numerous tech events, conferences, and meetups across major cities like Hanoi and Ho Chi Minh City. While there's a surge in venture capital, particularly attracting international investors, early-stage and deep-technology startups can still face funding gaps. The ecosystem offers various support programs, including incubators and accelerators, some specifically targeting early-stage startups with mentorship and resources. However, the support landscape includes both tailored programs and potentially more standardized approaches as the ecosystem matures. The government actively supports national entrepreneurship programs and innovation centers.

For many entrepreneurs, the energy and resources available in Vietnam 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 Vietnam, 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 Vietnam 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.

Vietnam has a growing pool of talent for startups, supported by numerous universities and vocational institutions emphasizing STEM fields. These institutions produce tens of thousands of IT graduates annually, equipped with skills in programming, software engineering, and emerging technologies. While a skills gap exists in areas like critical thinking and advanced AI, the workforce is noted for technical proficiency, adaptability, and a strong work ethic. Local talent supports entrepreneurial growth through cost-effectiveness, understanding of the local market, and a dynamic, young demographic eager for career growth and open to joining startups. The government also actively promotes talent development and a supportive startup ecosystem.

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 Vietnam 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

Vietnam 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.

Vietnam's startup ecosystem is supported by growing infrastructure, including co-working spaces and tech hubs in cities like Ho Chi Minh City and Hanoi. Support systems feature incubators, accelerators, and networks providing mentorship, funding access, and resources. These resources help businesses thrive by offering essential facilities, knowledge sharing, and connections to investors and partners. Government initiatives play a significant role. Project 844, overseen by the Ministry of Science and Technology, aims to foster the ecosystem through funding, mentorship, and legal reforms. Other programs offer financial support, tax incentives, and assistance with incubation and co-working space costs. The government also supports innovation centers and initiatives for specific groups like women entrepreneurs.

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 Vietnam. 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 Vietnam Be Considered the Best Place to Launch a Startup?

There’s no doubt that Vietnam 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 launching startups in Vietnam face significant hurdles. Competition is fierce, with both local and international players vying for market share, particularly in booming sectors like fintech and e-commerce. While the cost of living can be relatively low compared to some Western countries, particularly outside major cities, factors like talent acquisition, especially for skilled tech workers, can drive up operational costs. Regulatory issues also pose challenges, with complexities in administrative procedures, a legal framework that can lag behind rapid innovation, and difficulties in navigating investment regulations for foreign funding. Additionally, securing early-stage funding can 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 Vietnam or elsewhere, EWOR’s remote programmes are designed to support founders no matter where they are located.

So, while Vietnam 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