In both start-up and business activities, a mentor play a crucial role in supporting startups and business owners in the right direction. Therefore, strengthening the team of startup mentors and attracting the participation of the Da Nang business community to develop an innovative startup ecosystem is one of the city’s top priorities.

Projects joining a high-tech business incubation programme at the Da Nang Hi-tech Park’s General Service Centre are equipped with more entrepreneurial knowledge. Photo: M.Q

Before developing the Beekids project - a technology solution that helps preschools manage and teach children in the classroom through an intuitive interaction, Director of the Dragold IT Design Consultancy JSC based in Thanh Khe District’s Thanh Khe Dong Ward, Le Trung had more than 10 IT-based startup ideas, including sales chatbots, and Edutalk - an online education app.

In 2018, Mr. Trung failed to start a business in Ho Chi Minh City due to a lack of experience. Beekids can be said to be his most successful startup project with more than 100,000 users after 3 years of development.

Looking back on the past journey, Mr. Trung remarked "Even though I failed many times, I decided to start the Beekids project when I returned to Da Nang. Unlike previous times, I spent much time on looking for startup mentors as well as participating in incubation courses in order to gain more experience and increase resources and expand connections.

“The mentors share start-up-related knowledge, experience, failures and successes, thereby helping startups have more confidence, motivation, and entrepreneurial spirit” added he.

Meanwhile, Mr. Duong Minh Hung, Director of the Shipway JSC headquartered at the Da Nang Hi-Tech Park, started his Shipway project - smart transport solution - in Quang Ngai Province. However, he found it difficult to expand the service scale because Quang Ngai Province is not bustling. Therefore, Hung decided to expand the project to Da Nang in order to have the opportunity to connect with Mr. Ly Dinh Quan, Director of the Song Han Incubator (SHi).

“Thanks to the enthusiastic support of startup mentors like Mr. Ly Dinh Quan or Chairman of the WeAngels Foundation Le My Nga, I have had many opportunities to develop Shipway” added Hung.

In 2021, the Da Nang Department of Science and Technology provided a financial support worth VND230 million for Hung’s company to upgrade Shipway. By late of the year, Shipway will be one of four projects to be selected for the 2^nd high-tech business incubation course. Currently, Shipway is supported with an office in the Hi-Tech Park.

According to research conducted by the South Korean venture capital firm Nextrans, in 2020, only less than 5% of Vietnamese startups celebrated their 2^nd birthday. In that small percentage, startup projects have good relationships with their mentors have a nearly 3 times higher success rate than those without mentors.

However, in Da Nang in particular or Viet Nam in general, the number of mentors who are successful entrepreneurs and influential figures is still modest, and the network of mentors is also quite sporadic.

In order to overcome this weakness, in the middle of 2022, SHi cooperated with the National Innovation Startup Advisory Council and Business Forum Magazine to organize a mentoring training course in order to equipping trainees in Central Viet Nam with basic mentoring skills to mentor start-ups in the future.

In addition, SHi is accompanying the city to attract many resources to support and improve the capacity of components of the startup ecosystem, thereby attracting the attention and support of funds and businesses.

Mr. Huynh Sang, Director of the Innovation Startup Support Center under the Da Nang Department of Science and Technology, highlighted the efficiency of the Da Nang Innovative Startup Portal in boosting the connection between startup mentors in particular and elements of the ecosystem in general.

The portal offers its users useful information on latest technologies, creative ideas and innovations. In addition, the country’s support policies and programmes for startup businesses, detailed information about investment funds, as well as national and international events relating to startup support activities, are introduced at the portal.

Currently, about 100 units and individuals are joining the start-up network on the portal. In the coming time, the Innovation Startup Support Center will continue to operate the portal as well as organise startup activities to promote the building of a startup mentor force, thereby contributing to promoting the development of the city’s innovation startup ecosystem.

Reporting by M.QUE - Translating by M.DUNG