Under the National Startup Program, the Southern Startup Advisory and Support Council cooperated with Ton Duc Thang University in Ho Chi Minh City to host an Entrepreneur Exchange program with the topic “Startup 5W + 1H.”
More than 500 students from Ton Duc Thang University’s various faculties have participated in the program. The students met and listened to professors who are successful entrepreneurs and Entrepreneurship experts from the Southern Startup Advisory and Supports Council who shared their entrepreneurial experiences.
Dr. Vo Hoang Duy, Vice Principal of Ton Duc Thang University, acknowledged the Southern Startup Council for its support and supervision of the University’s students at the program’s opening.
Dr. Duy highlighted throughout the program that theoretical training in universities is insufficient and that real-world experience is needed. According to him, if we want to be successful, we need forerunners to lead the way, which is why Ton Duc Thang University has always established ideal conditions for students to participate in various startup competitions conducted by the city over the last year.
Dr. Duy also believes that by participating in the program, students will be able to learn from the successes and failures of other entrepreneurs in order to better equip themselves with skills and knowledge for their own entrepreneurial journey.
Ms. Vo Thi Phuong Lan, Founder of the Southern Startup Advisory and Support Council, mentioned: “The National Startup Program always creates a favorable environment for youngsters, students across the country have the opportunity to study, practice, exchange, etc. with experts, consultants, and successful entrepreneurs to help the learners realize their vision of becoming an entrepreneur.” Under the National Startup Program, the Vietnam Chamber of Commerce and Industry (VCCI) made a Decision in 2014 to establish the Southern Startup Advisory and Support Council.
Ms. Lan believes that, with the help of the National Startup Program and the Southern Startup Advisory and Support Council, Ton Duc Thang University will have many Startup projects that win high awards at the National Startup Competition in 2017.
Ms. Vo Thi Phuong Lan – General Director of My A Transportation Joint Stock Company, Founder of the Southern Startup Advisory and Support Council; Mr. Huynh Thanh Van – Executive chairman of Directors of Sfurniture Company, Co-founder of the Southern Startup Advisory and Support Council; Ms. Le Thi Thanh Lam – Deputy General Director of Saigon Food Joint Stock Company; Mr. Ha Huy Cuong – Deputy General Director of Saigon Food Joint Stock Company.
Thanh Van, a student at the Faculty of Accounting, posed the following question at the start of the seminar:
What are the most difficult challenges that students confront while start-up?
Ms. Vo Thi Phuong Lan responded to this question by stating, “There are numerous challenges when beginning a business, but the biggest challenge of a startup is to have passion and patience.” Failure is likely if these two components are insufficiently significant.
Choosing the right business partner is fundamental when establishing a new business. We must be straightforward and proactive about all published information from the beginning, especially throughout the stage of joint capital contribution.
Entrepreneur Huynh Thanh Van added, “If you want to start-up, the first thing you need to do is have an idea and be willing to see it through to completion without fear of failure.” When start-up, the most essential thing for students is to have adequate information and advice from experts, successful entrepreneurs, and relationships such as friends, family, and teachers, etc. We need additional experience to make our ideas a reality.
Entrepreneur Thanh Lam observed, “The most concerning issue for students when establishing a business is not knowing where to begin so that their startup ideas are not unquestionably a movement.” It is also necessary to prepare a practice idea. Having an idea is great, but since it’s not ready to be put into reality, it will stay nothing more than an idea.
According to Ms. Le Thi Thanh Lam, deputy general director of Saigon Food Company, youngsters who are just starting a business nowadays frequently fail due to their carelessness and lack of experience in the process of developing their ideas. Ms. Lam highlighted that in order to be successful in business, we must have the knowledge, social relationships, market demands, customers, etc. To have passion, we must first know what we want, what we love, and who we want to be in the future; if you can answer these questions, you will be able to generate ideas.
Students from the Faculty of Applied Science posed the following question to Mr. Ha Huy Cuong, Deputy General Director of An Binh Bank: What is An Binh Bank’s current strategy for unsuccessful start-up businesses?
An Binh Bank specialized in retailing in 2017, with a focus on the customer segment of small and medium-sized businesses. We now provide minor finance deals to businesses. Anyone can seek guidance and assistance from any An Binh Bank branch. When a business is mistakenly forced into bankruptcy, it must immediately inform the bank so that the bank can take the appropriate action to rectify the problem.
“How can investors believe and invest capital in one´s projects?” Vinh from the Faculty of Electronic questioned.
Ms. Vo Thi Phuong Lan responded to this question by mentioning: When you want investors to believe in your business. You must demonstrate that your idea is practical and has been reviewed by professionals as well as successful entrepreneurs before investors, banks, investment funds, etc. are willing to invest.
Quoc Bao, a student at the Faculty of Business Administration, asked, “How is human resource management in the process of the start-up?”
Founder Huynh Thanh Van responded to this question by expressing, “When launching a business, what makes it successful is the human component.” We must think carefully so that we do not endanger the financial circumstances as well as family members. The person in charge of project implementation must make all decisions.
After more than an hour of sharing, more than 500 Ton Duc Thang University’s students received a lot of valuable information about Start-up knowledge and experience as well as commitments to assist businesses from the program’s participants.