HO CHI MINH CITY STARTUP AND INNOVATION FUND

The Ho Chi Minh City Startup Investment Fund (HSIF) has been founded by Vietnam Youth Federation – HCMC, together with HCMC Finance and Investment Company (HFIC) and Saigon Hanoi Commercial Joint Stock Bank (SHB). Orient Commercial Joint Stock Banf (OCB) and HDBank – HCMC are the first organisations to contribute to the fund. HSIF will increase the total investment capital in the period of 2016-2020 to around 100 billion dong.

_MG_6037

HSIF was established to support startup enterprises in HCMC in particular and Vietnam in general. Developing startup projects means contributing to the development of HCMC – the city of young startupers. The fund has been contributed by investors, enterprises, individuals.

HSIF is also said to be the first fund in HCMC to aim at supporting, sponsoring and investing in startup enterprises which go for the creativity, innovation and changing our life. We will consider and encourage technology enterprises: Mobile app, Internet, technology app for agriculture,etc. which have potential to be successfully applied in Vietnam, in ASEAN  and all  over the world. We also give priority to enterprises in the city’s key industries; those have applied high technologies into production; inventions of scientists, lecturers, students, alumni of universities in HCMC… which is easy to commercialize.

Untitled-2

What is the source and size of the fund?

– HSIF’s charter capital is formed from the contributions of businesses, banks, private investors, donors, trustees from organizations and individuals nationwide and abroad… and other appropriate legal sources. The capital is contributed in VND.

– At the lauching time in May 2016, Saigon commercial Bank- Hanoi (SHB), ORIENT COMMERCIAL JOINT STOCK BANK (OCB) and Ho Chi Minh City Development Joint Stock Commercial Bank contributed 30 billion VND to the fund. The expected charter capital in the first period (2016-2020) is around 100 billion dong, in contrast to 30 billion in 2015.   We are trying to attract capital and on the way going for the expected amount of 100 billion in the end of 2020.

Who is eligible to borrow from the fund? Any requirement?

– Enterprises in Ho Chi Minh City, with Business Registration Certificate, at least one founder under the age of 35.

– Priority will be given to good projects or those which have previously received loans from BSSF, under the management of Vietnam Youth Federation of Ho Chi Minh City.

Which business fields does HSIF invest in? Any priorities?

HSIF give priority to startups regardless of any fields. The loan approval is made by our council after appraising the potential of the projects.

However, we encourage the development of technological projects such as mobile apps, Internet apps and agricultural apps which could be applied in Vietnam, ASEAN countries and around the world.  We also encourage feasible projects which have been designed by scientists, lecturers, students and alumni of HCMC universities and which have the potential for commercialization.

What are HSIF’s investment term and investment limit?

The investment term is from 3 to 5 years.  The council will determine different investment terms for different project types, sizes and scopes.

There is no investment limit. It mainly depends on the Fund’s capital base as well as the evaluation of the Fund’s Management Board.

What is BSSC’s role in HSIF?

BSSC is a representative operating the fund, appraising projects and connecting startups in HCMC with HSIF. Besides, BSSC invites experts to organise all consulting, advising activities, specialized training for startup, organises networking activities like seminars, forums and exchanges to create a chance to meet, call investment for all businesses.

Who are the founders, operators, and contributors?

– Founder: Vietnam Youth Federation – HCMC

– Co-founder: HCMC Finance and Investment state-owned Company (HFIC), Saigon commercial Bank- Hanoi (SHB), ORIENT COMMERCIAL JOINT STOCK BANK (OCB) and Ho Chi Minh City Development Joint Stock Commercial Bank

– Operator: Business Startup Support Centre (BSSC)

– Contributors: ORIENT COMMERCIAL JOINT STOCK BANK (OCB) and Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank)

Each of the entities involved has its own strengths.  In particular, The Vietnam Youth Federation – HCMC, together with BSSC orientate and organise all activities.  The banks provide funding and call for sponsorships. HFIC takes responsibility for calling financial sources and the fund expertise.

register to get the investment:
About us
BSSC is the only organization in Vietnam offering specialized support services to young start-ups. We offer help with finance, material facilities, consultation, training, trade promotion and other services.
(Tiếng Việt) Ngôn ngữ: