Sáng nay (26/4/2017), chương trình giao tọa đàm - giao lưu trực tuyến với chủ đề: "Phủ sóng thông tin, kết nối thành công" được Báo điện tử VnMedia tổ chức tại showroom VNPT-Media 57 Huỳnh Thúc Kháng, Hà Nội.

The program featured the following guests: the IT - Strategy expert with many success in startup - Mr. Nguyen Huu Thai Hoa, Vice Chairman of the Strategic consultancy council, Chief Strategy Officer of VNPT; Mr. Hoang Ngoc Trung - Representative of the Winner of Applied IT Product System 2007: Online learning and testing solutions applied in training quality improvement by AI Vietnam and Mr. Le Cong Thanh - Representative from the Winner of Vietnam Talent Awards 2016: The semantic analysis system and social networks interactive management SMCC.

Minh Tu, Hanoi: You once said the startup journey was not all roses but a challenging one. Can you share about the challenges your companies have faced? How can you overcome them?

Le Cong Thanh

I am not exactly a new start-up entrepreneur since my company was found in 2011. However, I agree with the opinion of clearly defining the term "Startup". From my own experience, I have a clear-cut distinction between "Khởi nghiệp" and "Startup".

Khởi nghiệp means developing an individual's career, and what we discuss here is the startup model of many companies around the world.

The goal of a startup is to have the company listed on the trading floor. This is a novel model in the world, so in Vietnam, people tend to regard opening a business as similar to startup.

Startups are often in need of large capital raising, but they do not aim at capital turnover.

Deputy Prime Minister Vu Duc Dam said: "Startup is an innovative model to start a business". Startup means burning up energy in exchange for high speed.

Besides profits, the measurement of the stock market is another critical factor for startups.

I highly appreciate the startup wave in Vietnam, but it is actually not related to the global startup wave.

Back to the question on the difficulties that my company faced in the initial establishment, I would like to share that:

My company was established in 2011, but it was not until late 2015 did I know about the startup model. This model helps increase the value of enterprises and particularly suits with tech companies. Tech companies can develop new products without too much initial investment. All ideas come from the brains. Since large initial capital is not required, all we need is the gray matter in our brains. Therefore, this model can help raise a company's value from a low capital and in a short period of time.

From 2015, I started to raise capital and determined that this capital would be used for "burning up energy". We formulated a clear plan and defined all the tasks using capital as well as the duration of such usage. Depending on the increase in the value of the company, I would continue to raise more capital.

Before that, we were struggling since we were not good at making contacts or socializing. The company was in deep water and even on the edge of bankruptcy at one point.

We eventually set a clear plan and was able to persuade investors to invest in the company.

After 3 months, we raised USD200,000, which was invested in 2 years, and the company continued to develop. Since the Vietnamese Talent Awards, many businesses have contacted us and we have achieved great success so far.

Our investors include both domestic and foreign ones.

Nguyen Binh Anh, Hanoi: At the moment, there are two definitions of Startup. One means beginning one's career and other means an innovative way to start a business. What do you think about this term?

Nguyen Huu Thai Hoa

In my opinion, it is time for the government, scientists, and enterprises to reach a consensus on the definition of "startup". What does starting a career, being a boss or working as an employee mean when it comes to "startup"? Starting a business in an innovative way is just a layer of meaning. After discussing with many experts, I believe that "startup" means to start a career or a job that brings unique and different values.The most crucial element of startup is your aspiration. The nature of startup is to turn nothing into something. The core value of startup is not money.

Nguyen Thanh Trung, Ha Noi: In your opinion, how does artificial intelligence affect Vietnamese startups?

Hoang Ngoc Trung

14 years ago, my company developed an online training program and won the Vietnam Talent Awards.

In the past 10 years, AI has been facilitated and deployed on the online platform in numerous fields such as education, business, environment, technology, and communications, etc.

Nevertheless, to prepare for a new stage of AI, we also apply artificial intelligence when we acquire a vast content source with thousand of training courses, along with a team of local and international lecturers and experts, aiming at millions of learners.

We need to implement AI to each learner to identify the ability and demand of that individual. This is both an opportunity and a challenge for our product in the next stage.

Hoang Van Bach, Lao Cai: After 10 years since winning the first prize at the Vietnam Talent Awards, how have AI Vietnam made its progress? Can you share with us?

Hoang Ngoc Trung

AI was established in 2003. I was a new graduate majoring in Information Technology at Hanoi University of Science and Technology. At the time, online training was not popular in Vietnam. High school graduates from other provinces often went to Hanoi to have extra lessons in preparation for their university exams because the best teachers were in big cities. From the reality, AI started to research products enabling students to learn from the best teachers, bringing an equal access to knowledge for everyone. An online learning system would make all students realize that goal.

Our product was based on that foundation, and in 2007, we were honored with the Vietnam Talent Awards.

The second stage of our project covered the past 10 years (2007 - 2017), which was subsequent to our wins in the categories Promising product and Potentially formed product. We had a good opportunity to develop.

First and foremost was the assistance from VNPT. As the main sponsor of the Awards, the organization gave us tremendous help. The product was deployed at VNPT, Vinaphon, and Mobiphone. From that reputation, AI was considered a leading solution provider in the market.

From 2008, we started to invest in online training, and after 10 years, we have reaped much great success. However, we did have to deal with many difficulties and failures. It was a tough journey.

In reality, working as an employee or opening a company shares the same 50/50 proportion of opportunities and risks. In order to develop and distribute the products to the market, you have to exchange for your time and health.

In the early stage, we had a product with a high expectation of application, and the group was very united when applying for the Awards.

After winning in the beginning of 2009, however, the group had its first conflicts. There were different ideas and opinions. Accordingly, AI was separated into the current AI and another company.

Despite the separation, AI has maintained its unity for years. We are the joint owner of the product and pleased to develop side by side. I think you can still make it even in the case of a separation.

Once you have your own family, family duties can affect your work.

Startup requires the passion and idea to start a company, but to develop your business, I think it is more difficult in Vietnam than in other countries. Startup is considered a culture in many nations. For instance, in the US, there is high transparency in contributing capital and managing a business.

However, in Vietnam, there is an aching issue with transparency and taxation, making it difficult to attract investments.

I would like to thank VnMedia for giving us the chance to share our experience and help young people to prepare themselves for the long road ahead.

Mai Hoa, Hanoi: Startup has been a hot issue over the past times. However, not all startups are successful. In your opinion, what are the factors making a startup attain its success?

Nguyen Huu Thai Hoa

What are the factors influencing the success of a startup? I just finished writing a book on national startup, which talks about my own experience with startup and discussed the meaning of startup. I think that startup in Vietnam today is a trend We are labeling the term startup. so we should clearly define this term. For example, Prof. Ngo Bao Chau started his career for his passion for mathematics.

Those who love math or science do not necessarily do business.

A startup should be opened for an opportunity - the demand of the market or the chance to provide a potential product. The solution (knowledge) should answer the problem posed by the market and make a difference. Another factor is investment capital. Startup in Vietnam is labeled with the wrong meaning, and it tends to jump up on the money issue. The success of Prof. Ngo Bao Chau cannot be measured by monetary values. Hence, to start with the right path, the initial terms are of significant importance. In conclusion, three essential factors for a startup is Opportunites, Knowledge, and Capital.

Tran Hoang Minh, Phu Tho: Could you tell more clearly about the application of AI in your company?

Hoang Ngoc Trung

As I stated earlier, AI has been researched since 10 years ago to be applied in teaching and studying. However, in our new development stage, we will apply AI in various fields.

For example, it's not difficult to manage a course with a small number of students, but when there are a vast amount of students, management become more challenging. If AI is applied, from collecting information on students' studying behaviors, we can guess their interests and academic levels.

It's clear that AI makes our products better.

An enterprise can only grow when it chooses possible and suitable direction and tries it best. It's the same for each person, each company, and even a nation.

Life is fair. No effort, no success.

 

Images from the forum - online interview:

 

Mr. Nguyen Huu Thai Hoa (middle) discussed the factors making a startup attain its success.

Mr. Hoang Ngoc Trung (left) answered an audience's question.

The forum - online interview was held at the VNPT-Media showroom - 57A Huynh Thuc Khang, Dong Da, Hanoi.

The guests experienced VNPT-Media services at the showroom.

The guests took a picture at the VNPT-Media showroom.