Vietnam’s capital gleams with traditional charm. Beneath the frenzy of motorbikes, hawkers, and ubiquitous construction, there is a startup ecosystem swarming with hungry fish. Just cast out your net and see.
Many factors are contributing to this startup boom. Are you a digital nomad or entrepreneur with the next big idea? Bring it to Hanoi because conditions are just right to propel it to reality and success.
1. Cost of Living
Rumors of $10 hotel rooms and $2 meals are true. One can easily live on $400USD per month in Hanoi. In addition, the bloom of co-working spaces in the region makes it exponentially easier to give your team a stable workspace with the resources they need. The networking opportunities within co-working spaces are endless, acquiring freelancers or top-notch talent won’t come at the astronomical cost of the West.
Silicon Valley’s main pitfalls are the living expenses. Startups run out of cash to fund their day to day when businesses are in their infancy.
Let’s expand on that networking within co-working spaces a bit more. Without the constraints of home lives weighing on your mind, entrepreneurs can delve right into conversation about skill sets. Professional relationships move quicker and everyone can weave their talent web further and wider. You’ll meet coders, designers, writers, and developers in coffeeshops and create lifelong partnerships over a bowl of pho.
Seasoned Hanoi expats are welcoming. Among other Southeast Asian cities, Hanoi has a community warmth that encourages personal growth and help. This home away from home environment coupled with constant entrepreneurial drive encourages people to stay.
The ecosystem is not only at a zenith for entrepreneurs; venture capitalist and angel investors are flocking to the region as well. It could be due to various country’s governments creating incentives to reel in these parties. Governments are also investing to improve educational facilities and technology. This is pushing forward industries outside of agricultural and service sectors. Opportunities are boundless for people with the next idea in tech, travel, or improved urban living.
4.Visa Free Travel and CHEAP flights
Need an escape? Traveling within ASEAN is easy! Don’t worry too much about the standard three-month limit.
A cherry on top of all this are flights that won’t starve your piggy bank. Round trips to Kuala Lumpur and Bangkok are under $120. Visit Hong Kong, Singapore, Taiwan, or Indonesia for under $200 round trip.
Weighed against BRIC countries, Southeast Asia as whole is larger than Brazil and Russia, but growing faster than China. Markets in the region also shout similar demands. Meaning a product or service that succeeds in one market can enter another with a similar strategy.
Entrepreneurs! Assemble your teams, book your flights, and enter the bubbling startup ecosystem in Hanoi, Vietnam.
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