Da Nang's startups strive to keep their head above water

By DA NANG Today / DA NANG Today
November 29, 2023, 11:13 [GMT+7]

In a difficult and challenging world economic context, projects and startups in Da Nang have been quickly finding solutions to make appropriate adaptation and development strides.

In a difficult and challenging world economic context, projects and startups in Da Nang have been quickly finding solutions
In a difficult and challenging world economic context, projects and startups in Da Nang have been quickly finding solutions.

Building up the project right against the backdrop of COVID-19, the Beekids learning connection platform of Dragold Technology Education Joint Stock Company in Thanh Khe District experienced many difficulties in capital as well as the market. However, over the past 3 years, Beekids has attracted 300,000 children and about 10,000 teachers interacting regularly in teaching and learning with more than 10,000 practice lessons in the form of gamification, and using artificial intelligence to personalise for each student.

According to Mr. Le Trung, the Director of Dragold Technology Education Joint Stock Company, so as to achieve the above-mentioned results, Beekids has strived to build up a tech platform that resonates with partners with international standard programmes and highly popular platforms such as POMath, Super English Memory, Vitadairy and KidsOnline to create different products with modern technology.

In June 2023, Beekids organised a thinking festival with the participation of more than 5,000 teachers and 25,000 students, demonstrating the great potential of the project. Beekids has reached the top 20 of Techfest 2021 and 2023, the top 5 of the Startup Wheel 2022 competition and participated in the Shark Tank Viet Nam programme, the third prize in the SURF Da Nang 2023 innovation startup competition and many other renowned awards.

“Despite positive achievements, at this time, Beekids and other startups face many difficulties due to the global economic crisis. Calling for funding seems to be in a state of "hibernation" and the possibility of stopping is something we often consider. However, after more than 3 years of construction, we see the strengths and differences of Beekids as well as the responsibility to the future generation of the country. With partners who trust Beekids, we should try our best to overcome difficulties. In the third quarter of 2023, the company's revenue grew by 200% from the first and second quarters of 2023, and most likely reaching the break-even goal in early 2024.”,  Trung said.

Having won the first prize at SURF 2023 with the project ‘Wetex global fashion supply chain management platform’, the Tex Technology Solutions Joint Stock Company based in Son Tra District has till date successfully attracted 150 international brands with more than 1,000 orders and more than 200 factories in Viet Nam. However, the company also encountered many difficulties due to a decrease in demand from brands due to the world situation.

Ms. Tran Thi Thanh Loan, the Director of Tex Technology Solutions Joint Stock Company, said that the lack of orders and reduced demand caused many factories to face the problem of maintaining operations. This not only affects businesses and workers but also the surrounding community.

Despite the difficulties, the demand for environmentally friendly fashion increased and the company promptly grasped it. Wetex has focused on improving production processes, reducing time and costs, improving production value in Viet Nam, ensuring stable income for workers, especially female workers (accounting for nearly 90% of the garment industry workers).

To date, the company’s growth rate is about 30% per month. As for the goal for 2024, the company will focus on developing the global fashion market, especially the markets of Japan, South Korea, the United States and at the same time building a sustainable factory network in Viet Nam and connecting 5,000 orders from global fashion brands.

These are just two of hundreds of startups in the city that are making daily efforts to overcome common economic difficulties, gradually creating sustainable and innovative products that bring value to the community.

To empower the startup community, the Da Nang Innovation Startup Support Centre under the Da Nang Department of Science and Technology has been implementing many activities such as communication for startups on the city’s Startup Portal; offering coaching and training session to them on presentations and consulting in the form of 1-1 with experts at Da Nang Business Incubator DNES; supporting their access to leading experts in the field of innovative startups, connect with investment funds; supporting them to display their product at exhibitions and scientific and online conferences on https://vrfair.startupdanang.vn/; connecting them with startup ecosystems in neighbouring provinces such as Thua Thien Hue, Quang Tri and Quang Nam.

Mr. Vo Duc Anh, the Deputy Director of the Da Nang Innovation and Startup Support Centre, in the coming time, the unit will continue to implement capacity building, develop startup projects and innovative businesses, connect with startup networks as well as consult on support policies related to innovative startup activities, thereby helping startups gain more resources to overcome difficulties.

Reporting by MAI QUE - Translating by A.THU