A 'wave' of startups bring Vietnamese brands to the world

In the past few years, Vietnam's national brand has continuously been ranked among the world's strongest ones. Brand Finance-a world's leading brand valuation company announced recently that in 2022, Vietnam's national brands are valued at USD431 billion, ranked 32nd in the list of top 100 strong brands in the world with the BSI strength index reaching 56.7 and ranking at A level.              

Thus, Vietnam in general and the Mekong Delta in particular are witnessing a strong development wave of innovative start-ups. With their unique business ideas, competitiveness is improved. Many students, young people and entrepreneurs have provided new business ideas relevant to market trends. In particular, their projects have "hit" the consumer psychology, thereby promoting the development of their product and bringing their new brands to many countries around the world.  

Joining the start-up stream in the country, the Mekong Delta also witnessed the development and growth of many start-ups not only in the domestic market but also in the world. Each year, the region records about 400-500 startup projects, especially in the agricultural sector.The Sokfarm coconut nectar brand in Tieu Can district, Tra Vinh province is a good example. By exploiting the strength from agricultural land, this business has created 7 products from nature. It is exploiting the value of coconut trees to meet the diverse consumer demands. More specifically, it has exported 2 product lines of condensed Sokfarm coconut nectar and coconut flower sugar to Japan and the Netherlands, regarded as the very fastidious markets.

 Ms. Le Thi Diem Trang, the official distributor of Sokfarm Coconut Nectar brand, said that her fate to "stick" with and trade in products extracted from coconut oil and nectar originated from an agricultural startup group. Following their process of forming and developing, Ms. Trang realized the potential for development of their producs. One year later, she began to connect and cooperate with them. On average, Ms. Trang's system distributes over 1,000 products each month through e-commerce platforms and online sales channels.   

Branding plays an important role in the growth of a start-up to affirm its position and trust with consumers. Hygie & Panacee One Member Limited Liability Company in Can Tho City with its project on producing instant tea from natural agricultural products has become a focus attracting attention of many investors.

Hygie & Panacee brand is known through a series of awards gained from large-scale startup competitions such as: First prize of Dong Thap Province Creative Startup Contest 2021, second prize of Mekong Delta Creative Startup Contest 2021 and the latest is a second prize of the Agricultural Startup Innovation Contest 2022. 

Ms. Doan Thi Hong Tham, founder of this brand said through these competitions, the business itself has a motivation to improve its project level and learn more from business ideas. The competitions especially open up opportunities for enterprises to connect, promote trade, and position their brand. Moreover, this is also the fastest and most effective sales channel for businesses to meet face-to-face with a wide range of customers and partners, bringing products to more markets.

“If you know how to take the most advantage of your brand, you will be closer to the hearts of customers. These benefits are not only short-term, but also long-term meaningful to each business," said Ms. Tham.

Currently, many start-up projects have formed and developed with diverse ideas and products, covering almost every field including high technology, commerce, manufacturing, services and tourism.

According to the Department of Science and Technology of Can Tho City, the unit has issued a plan to support the development of the innovation startup ecosystem in Can Tho city in the period of 2021 - 2025, with an orientation to 2030. It aims to support the process of formation and development of fast-growing businesses contributing to making Can Tho city become a center to connect and spread the innovation start-up movement throughout the Mekong Delta by 2030. Along with many practical support mechanisms and policies, the startup ecosystem will create strong and effective "spillover effects" in the whole region.

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