Education startup will
become great opportunity for foreign
investors to invest in Vietnam as well as the Vietnam startup
community.
GotIt!, a Startup, a Mobile
App which is built on the question – answer foundation for a long time has been
presented in the top 10 educational apps on App Store in the US. GotIt! has
received 9 million USD from Capricorn Investment Group. Investors of GotIt! are
also the people who invest in companies creating products that have changed the
world such as Tesla Motor, SpaceX, and PlanetLabs. They believe that GotIt!
will become “the next big thing” when GotIt! provides services in the areas
beyond education.
One other education startup
which is ELSA – teaching English pronunciation, has just passed 1,200
competitors to win first prize at SXSWedu – a competition in education
technology startup, organized in the United States. This application uses
artificial intelligence technology to help users improve their English
pronunciation.
And yet, a different
startup which is Monkey Junior, specializing in foreign language teaching has
won the competition “GIST Tech-I 2016” held in the US after passing more than
1,000 competitors from 104 countries in the world. This is the startup contest
initiated by the US government and received the backing of Mark Zuckerberg –
CEO of Facebook – as well as many powerful individuals in Silicon Valley.
Belongs to the EdTech
field, which is attracting the attention of Vietnamese startup community,
Monkey Junior application is available on App Store, Google Play and Amazon
with a large number of users from the US (accounted for 43%), Vietnam (
10-20%), Canada, France… Although this app aims to teach foreign languages, the
point to make up the difference for Monkey Junior is that the teaching contents
are directed at children, especially children under 6 years old.
We have to mention one
other EdTech which is Code4Startup. Code4Startup is the online training website.
Although training on programming is not new, the basic difference of
Code4Startup is that it is not theoretical teaching, Code4Startup goes straight
into practice by guiding learners to build real applications. Hence,
Code4Startup has successfully calling for capital on KickStarter.
The common point of this
4 startups is that the project have high applicability, developing towards
EdTech (educational technology) and “father” of them are all Vietnamese: GotIt!
Of Dr Tran Viet Hung; Elsa was founded by Van Dinh Hong Vu Ngo Thuy Ngoc Tu;
Monkey Junior of Dao Xuan Hoang and Code4Startup of Leo Trieu (Trieu Quang
Anh).
Movement for startup
towards EdTech (educational technology) are blooming and the fund as well as
foreign investors are increasingly appreciating Edtech in Vietnam.
Every year, Vietnamese
spent 3-4 billion USD to send their children to study abroad and the market for
online education is very potential on a large scale. Vietnam is a country of
more than 22 million pupils and students, is the large customer market that
many education companies want to explore. On the other hand, the introduction
of this community-based projects to apply in reality is very consistent with
preference and development trend of modern education, easy to be welcomed by
parents and students in Vietnam.
In addition to the
potential of the market, international investors believe that the Vietnam
startups in general and EdTech startups in particular have been contributed
actively to the social advancement, improve community knowledge and update the
world’s new trends in Vietnam; while also contributing to the economic
development of the country. Similarly, in the world, such EdTech startups as
the Knewton, Coursera, Udemy, Duolingo… are the clear proof of this.
The million dollars
online training market has been receiving special attention of foreign
investors. By the end of 2016, Vietnam had 309 investment projects in the
fields of education and training with total registered capital of over 767
million USD.
Apax English is an
example. Recently, ChungDahm Learning Education Corporation (Korea) and Egroup
Education JSC have signed a memorandum of cooperation for an additional
investment of of 10 million USD for English training in Vietnam. Earlier,
ChungDahm Learning and Egroup have brought the Asian’s leading children English
program to Vietnam with the brand “Apax”.
From the success of Apax
English, many cooperation and investment projects in education are increasingly
powerful. Next, there will be the project of SK Telecom (under the SK Group,
one of the 3 largest Korean group), bringing the school of programming using
intelligent robot to Vietnam. It will become the first cooperation in the
education sector with Egroup.
With the above positive
signals, hopefully that in the coming time, Vietnam education market will
continue to receive “new wind” from the funds and foreign investors.
ANT Consulting is here
to assist you from the outset; providing corporate intelligence, risk advisory,
management consulting services that assist market entrance, and ensure
efficient business start-up operation. Our services are as following:
We strive to save your
cost by guiding you towards economical solutions that comply with local
legislation and procedures. We support you through early logistic solutions and
carry you through as your business grows.
We aim to bridge the gap between international best practices and local
cultures and assist foreign companies and organizations entering Vietnam market
to overcome commercial and regulatory issues.
We could be reached at
email: ant@antconsult.vn or
tel: +848 3520 2779 . To learn more about us, please visit
www.antconsult.vn
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