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Woomentum to support Vietnamese startups

Released at: 13:53, 29/04/2017

Woomentum to support Vietnamese startups

Photo: Woomentum

Woomentum marks its entry into Vietnam with an event to connect female-founded startups and investors.

by Hong Nhung

Woomentum, a Singapore-based startup community and crowdfunding platform, recently launched its first “CrowdFundHer Live!” event in Vietnam, supporting female entrepreneurs and their startups by connecting them with investors and consultants. The event took place at Dreamplex 2 in Ho Chi Minh City.

“We look forward to becoming a bridge to help startups gain access to whatever is needed for their journey,” Ms. Mouna Aouri, founder of Woomentum, said at the event.

Six female co-founded startups  were selected at the event, operating in sectors including education, the Internet of Things (IoT), lifestyle, high-tech agriculture, and FinTech, and given the chance to showcase their work and vision to investors, seek funding, and see how experts responded to their products.

Each had four minutes to present their projects and convince investors to back them, and eight minutes to interact with four panelists. Woomentum also facilitated discussions between the startups and interested investors.

Guests famous in Vietnam’s startup community included Mr. Adrian Tan, Director of Vietnam Innovative Startup Accelerator (VIISA), Ms. Ngo Thuy Ngoc Tu, co-founder of YOLA Language Center, Mr. Nguyen Ngoc Dung, Vice Chairman of the Vietnam E-commerce Association (Vecom), Ms. Violet Lim, CEO of Lunch Actually, and Mr. Michael Blakey, Managing Partner of Cocoon Capital, a renowned investor from the UK.

The first presentation came from CricketOne, a startup in high-tech agriculture that provides the means to feed protein-rich crickets. The five other projects were DropDeck, Giki, Fastsell, Phleek and Rudicaf.

While DropDeck provides data to evaluate a startup, Giki brings a new vocabulary recording tool inspired by Cambridge University. FastSell, meanwhile, introduced a new option in the e-commerce industry with an emphasis on purchases from people living nearby.

The Phleek team said they needed more money to develop their app because it now primarily runs on Facebook, offering personalized stylist services and online purchases. Rudicaf brings a new selective dating app to the market. Those joining the app are required to have a Bachelor’s degree or a college degree and earn good incomes. The membership fee is quite high, ranging from $500-$1,000 a year, to ensure community quality.

Woomentum has already organized four “CrowdFundHer Live” events in Singapore with support from Bloomberg, Google, the Hub Singapore, and other organizations. The events, which drew 600 people, saw 23 tech startups receive more than $143,000.

In organizing the event, Woomentum worked with the Vecom Startup Vietnam Foundation, the Mat Bao Corporation, Baker McKenzie, Citylinks, and others.

Founder Mouna Aouri and co-founder Ngoc Anh Hoang said Woomentum will make its official debut in Vietnam in the summer, offering opportunities for startups with female founders to approach new knowledge and capital and receive valuable feedback to create better products.

She said Woomentum wants to work as a bridge to link Vietnamese startups with investors, entrepreneurs, and consultants in Southeast Asia and, more importantly, connect male and female entrepreneurs.

Woomentum last year announced it would launch its crowdfunding platform, the Woomentum Fund, the first women-centric crowdfunding platform in Asia.

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