Source: Įven though Shark Tank Vietnam has brought to the national attention the burgeoning tech startup scene, the show has not shown the numerous challenges entrepreneurs face establishing high-tech enterprises in the local business environment. Beyond the show, applied-AI startups such as ELSA Speak, an NLP-powered English-learning app, and Trusting Social, an alternative credit scoring startup, have attracted positive attention from mainstream media. Of particular interest are Ohana, an apartment finding app, Umbala, an online wholesale retailer of consumer electronics, and EyeQ Tech, a solution provider specializing in computer vision technologies. On Shark Tank, more startups whose core products are powered by AI or are AI themselves are featured. Tech and AI startups have continued to gain prominence as the AI wave swept the country in 2018. The government recently published the National Strategy on R&D and Application of Artificial Intelligence, a document that outlines how governmental ministries and entities could build a business friendly environment for local tech firms and foreign investors to support the development of AI and technological innovations. Credit: VietnamBiĪt the same time, Vietnam is investing in technological innovations and pursuing techno-developmentalism, a developmental model that prioritizes technological advances, R&D, and industrial upgrading. EyeQ Tech founders pitching to investors on Shark Tank Vietnam. This marks a historical change as entrepreneurship-once a matter of survival-is now perceived as a respectable career choice both founding and working for startups has become culturally desirable for young people in Vietnam.
ELSA SPEAK CRUNCHBASE SERIES
The reality series allows budding entrepreneurs to pitch their startups to local business leaders with the goal of gaining necessary partnerships and investments. Since its first season in 2017, the angel investment reality show Shark Tank Vietnam has gained considerable popularity and become a platform for many local entrepreneurs.
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