VPBank launches one million USD startup support project

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) on October 10 officially rolled out its one million USD startup support project ‘VPBank StartUp’ to aid the development of Vietnam’s start-up community.

During 2017-2018, VPBank Startup will spend at least one million USD to directly endorse start-ups. It will also set aside VND6.5 billion (US$286,130) to support startups at the hi-end working space, UP@VPBank, operated by the bank and the Up Co-working space.

Founder of the UP Co-working space Do Hoai Nam said that businesses will have access to a top notch working space at the UP@VPBank at a reasonable cost. Also, UP@VPBank will offer assistance to innovative startups and financial technology firms to promote creativity and competitiveness.

They will get financial, accounting and legal support from investors, and have opportunities to work together, connect and cooperate to realise the goals of “start-up city” and “start-up nation”, he added.

VPBank Startup marks a major stride for the bank’s corporate social responsibility activities.

Experts said that Vietnam poses huge potential to become a start-up nation, including golden population, young labourers and talent in high technology. The country has seen more than 100,000 start-ups established.

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