The Da Nang Venture and Angel Summit (DAVAS) 2024, themed 'Reaching Creativity - Global Connection’, is being held in the city until June 1 by the Innovation Startup Support Centre under the municipal Department of Science and Technology.

The Da Nang Department of Science and Technology signed a cooperation agreement with the KILSA Global on Friday

With the message "Da Nang - City of Innovation", DAVAS 2024, the first of its kind in the city, aims to connect elements in the ecosystem, facilitate projects and startups to approach investors and investment funds, gradually position Da Nang as an attractive destination for capital appeal and investment, and form a community of angel investors and venture capital funds in the city.

During the opening ceremony of the event, the municipal Department of Science and Technology inked a cooperation agreement with the KILSA Global, an ASEAN overseas expansion service platform based in Singapore with offices in major Southeast Asian countries and South Korea.

Under the deal, the two sides will coordinate to organize international events to attract more foreign investors to invest in Da Nang, as well as support projects and startups in Da Nang to develop international markets, and projects, startups and foreign companies to develop markets in Da Nang and Viet Nam.

DAVAS 2024 is taking place in Da Nang on May 31 and June 1, attracting more than 10 large domestic and international investment funds.

Meanwhile, KILSA Global will act as a focal point to support the connection of Da Nang's innovation startup ecosystem through KILSA Global's network in Singapore, South Korea and other countries.

Some highlights of DAVAS 2024 include the capital raising for startup projects, 1:1 connection between investors and startups, three investment forums on innovative startups, the signing ceremony between Kilsa Global and the Da Nang Department of Science and Technology, and the launch of the innovation collaboration space of Quest Ventures, a Singaporean investment fund, in Da Nang.

The event brings together more than 10 large domestic and foreign investment funds such as Quest Ventures, Do Ventures, TheVentures, Weangels and Flying Fish, along with about 20 startup support units such as Swiss EP, Kilsa Global and Draper House Vietnam.

Furthermore, the event is attended by about 30 domestic and foreign innovative projects/startups that are in need of capital. Three of them are from Singapore, one from Canada, seven from Ha Noi and Ho Chi Minh City, and 19 from Da Nang.

Reporting by V.HOANG, M.QUE - Translating by M. DUNG, P.TRA