Applying artificial intelligence (AI), blockchain or big data helps many Da Nang startups optimize production and business processes as well as improve business operations on online or mobile platforms.

The FiveSS e-commerce platform is highly appreciated by customers for providing solutions that help users easily search, schedule and evaluate repair, maintenance, design and interior construction services. Photo: T.Y

Keeping up with market trends

According to technology experts, integrating information technology (IT) into production and business activities helps startups quickly keep up with market trends, maintain competitiveness and encourage innovations. In addition, advanced technology allows businesses to analyze consumer trends, thereby flexibly adjusting business strategies.

A typical example is Smartos, a part of the ENOUVO technology ecosystem, launched in the Da Nang market in 2019 with the goal of providing digital transformation solutions for real estate rental businesses.

Ms. Tran Hanh Trang, founder of Smartos, said that the business develops based on the application of science and technology and provides business solutions for each customer group.

Specifically, Smartos PMS is specialised software for managing operations for serviced apartments, motels, and homestays, while Bespoke Solution is ‘tailored’ according to the needs and brands of rental buildings.

Connecting tenants with service providers or vice versa is significantly improved thanks to the On Demand Booking platform.

By automating the operating process, Smartos is helping more than 170 addresses and 4,000 rental apartments at home and abroad reduce dependence on human resources and limit errors in information and cash flow...

According to Ms. Trang, the advantage of these applications is that all information and data are centrally managed on a single platform. This both brings convenience in management and enhances the experience of tenants.

Through the mobile applications, users can easily search, book rooms online, request accompanying services and look up invoices.

On the other hand, Smartos also integrates data with Sage, an accounting system software to create invoices/files in any format compatible with Sage.

“Thanks to the application of technology, the entire management and operation process is efficient, saving resources and time, as well as helping businesses focus on developing services and expanding the market,” Ms. Trang emphasised.

Returning from Hong Kong (China) after ensuring a berth in the top 10 best projects of the Tech 300 Southeast Asia Startup Competition 2023 organized by the City University of Hong Kong (CityUHK), Ms. Trang was even more determined to make Smartos the leading smart rental property management platform in Southeast Asia.

According to Ms. Trang, the enterprise will continuously develop products in a creative, effective and convenient direction, thereby contributing to creating a professional and transparent real estate rental market in Viet Nam.

Winning a third pize of the Da Nang Innovation Startup Competition (SURF) 2023, the FiveSS e-commerce platform made its mark by providing a solution that helps users easily search, schedule and evaluate repair services, buy materials, machinery, equipment and furniture, as well as order construction workers, contractors and designers.

According to Dr. Le Van Minh, the Technology Director of the FiveSS e-commerce platform, in recent times, he and his colleagues have focused on implementing safe technology solutions for users.

This application not only supports connecting customers with service providers, but also allows users to track work progress, manage repair history and evaluate service quality after the project is completed. In addition, thanks to the publicity and transparency, users can easily choose suitable products on the digital technology platform, saving time on travel and negotiation.

As assessed by Mr. Minh, applying technology in this field helps create a modern, convenient and smart service ecosystem.

Opening up development opportunities

More recently, at the Shark Tank programme (Billion-dollar Pitch) Season 7, the the FiveSS impressed the startup community nationwide as ut successfully raised capital of US$ 85,000 in exchange for 12.5% of shares from shark Pham Thanh Hung, the Vice Chairman of the Board of Directors of CENGroup.

Director of the FiveSS e-commerce platform Do Quy Su happily said that in the coming time, with the companionship of shark Hung, the FiveSS will have more resources to develop the system, expand scale and improve service quality.

At the same time, this will be an important stepping stone for this company to continue to expand and affirm its position in the field of construction and home care nationwide.

“When accessing the FiveSS application, customers can access over 14,000 products and services on construction and home care. In order for businesses to develop in a more sustainable manner, we will focus on promoting green construction materials, reusable and recyclable materials to protect the environment,” Mr. Su said.

In recent years, Da Nang has become a bright spot on the map of Vietnamese technology startups thanks to strong support policies from the municipal government and an increasingly developing startup ecosystem.

The city’s administration is especially interested in promoting technology startups with the expectation that they will quickly catch up with the digital transformation trend as well as make good use of the potential of the 4.0 industrial revolution.

Business incubators, co-working spaces and innovative startup competitions have become places to boost connections among the startup community, investors and professional advisors.

In addition, training and capital pitching activities are also continuously organised to improve skills, knowledge and development opportunities for young entrepreneurs.

At a working session with the National Assembly's Culture and Education Committee’s survey delegation on policies to support youth startups in September 2024, Vice Chairman of the Da Nang People's Committee Tran Chi Cuong affirmed that Da Nang considers the development of the startup ecosystem a top priority policy in economic development.

In addition to tax incentives, capital support and administrative procedure reform for startups, the city’s authorities have also organised many job fairs and disbursed loans for projects to create jobs with a total of VND 2,520 billion, contributing to creating jobs for more than 40,000 people.

These consistent and continuous policies have created favourable conditions for the startup community to quickly develop and expand their business scale.

To continue supporting technology startups, the Da Nang administration assigned relevant agencies to continuously research and implement specific mechanisms and policies on science and technology management activities and creative startups that have been approved by the National Assembly.

As revealed by Ms. Le Thi Thuc, the Deputy Director of the municipal Department of Science and Technology, the city’s authorities are making efforts to implement programmes and events to promote innovative startups based on technology platforms, prioritise the use of AI, blockchain and big data.

In particular, the long-term goal is to create favourable conditions for Da Nang technology startups to reach the international market.

It is believed that the support mechanism and commitment from the municipal government are important driving forces to promote the development of technology startups. And, in some aspects, the success of startups also contributes to enhancing the image and position of Da Nang in the eyes of international investors.

Reporting by TIEU YEN - Translating by A.THU