Future Visioning Panel: Binh Tran, Dr. Christopher Nguyen, Khoi Nguyen, Minh Nguyen, Wouter Sligter, Dr. Maya Ackerman (onscreen)
In 2022, despite global political and economic headwinds, Vietnam still managed to achieve over 8% GDP growth, the highest since 1997. While many macro challenges will continue into this year, the country is forecasted to continue its positive growth, and we believe digitization and tech will play increasingly important roles (read our full analysis and outlook here.)
As we head into 2023, AVV held its first event of the year on Generative AI, with a panel of industry experts to discuss the exciting opportunities and challenges that this disruptive technology could bring. The event was well attended and received by the audience, many among whom are founders, investors, engineers, and others (read more in the Spotlight section).
Though it seems like the 2022 holiday period just ended, Tết (Lunar New Year) is just around the corner. As the streets across the country bloom with cherry blossoms and festivities, we are reminded of how fortunate we are to call Vietnam home. The AVV team wishes you and your family a joyful and prosperous Year of the Cat.
Until next time,
Future Visioning with AVV - Generative AI
Generative AI is the latest major technological advancement that has caught everyone’s attention. Thanks to generative AI, new and unique products are being produced at a fraction of the cost, on an unprecedented scale, and at an incredible speed. Widely considered to be a game-changing innovation, it is attracting all players, from big tech to startups and investors.
Understanding the significance of this development, AVV held its first Future Visioning event of the year on generative AI last week, featuring a panel of top industry leaders who shared their takes on the latest developments and trends in generative AI, as well as opportunities and challenges it poses specifically to startups.
Our panelists saw generative AI as a tool that has a wide variety of applications, from initial ideation in creative processes to augmenting other technologies such as search. Generative AI could fundamentally change the way we look for information, allowing us to ask questions and receive answers in real-time. There could be a tectonic shift in search, as companies like Google and Microsoft are gearing up to augment their search capabilities with generative AI.
Is generative AI a threat to startups though? The panel maintained the perspective that AI still centers around humans and is there to liberate, not replace, us. Ultimately, if we step away from the “us vs. them” angle, the notion of pooling together all the creative power of humanity and making it accessible to everyone is an incredibly powerful vision. To startups, it opens a lot of doors to new frontiers that can help them differentiate and succeed.
The panel discussion was very well received by the attendees, and we plan to organize similar events in the future. You can check out the pictures from the event here: https://bit.ly/3Xl2DNV
AVV in Action
Tune into the AVV Founders and Friends Podcast
We are excited to announce the launch of our podcast, "AVV Founders & Friends." The first season, hosted by Hau and Adrian, will feature stories and insights from founders in Vietnam and Southeast Asia with a focus on building and scaling early startup teams. Our guest speakers will be sharing their experiences and philosophies on people and team development, from how they hired their first 3 team members to building a formidable company culture. If you're an early-stage startup founder looking for ways to build a strong team, be sure to check out our trailer on Apple Podcast or Spotify and subscribe to catch the first episode in February.
AVV Year-end Gathering
AVV held its annual year-end gathering last month, bringing together limited partners, portfolio company founders, and friends to celebrate and reflect on an eventful year. We believe that a strong community is vital for our success and we are committed to making our community even stronger as we go forward together.
Vietnam Tech in the News
Earable Neuroscience Technology Co. has become the only Vietnamese representative to win the Smart Wearables category at the CES Innovation Awards held in the United States with its FRENZ products.
Vietnam’s growing capacity to make complex tech products is attracting more foreign investors such as BOE (Apple’s supplier), Samsung, and BYD, who are setting up factories in the country.
Vietnam’s first startup unicorn and biggest tech player — will begin listing on the local Unlisted Public Company Market (UPCoM) on January 5 at a $364 million valuation.
Tech companies and startups in Vietnam may be affected by the wave of lay-offs that is spreading in several Southeast Asian countries such as Singapore, Indonesia, and China.