FPT Smart Cloud allocates 60 billion VND to support technology startups

In line with its objective to serve as a launchpad for Vietnamese startups to expand their reach, FPT Smart Cloud will continue implementing the "Startup Acceleration" program this year. The program entails a total support value of up to 60 billion VND, with a specific focus on technology startups in six key areas.

The current "capital raising winter" has affected both the Vietnamese startup ecosystem and the global landscape, characterized by a decline in total venture capital investment in 2023 and the first quarter of 2024.

However, FPT Smart Cloud remains resolute in its commitment to accompany Vietnamese startups. Through the "Startup Acceleration" program, FPT Smart Cloud endeavors to provide essential support to assist businesses in overcoming these challenging times.

In its second year, the "Startup Acceleration" program has expanded significantly, with the scale of funding growing in both the number of startups and the total support value, amounting to 60 billion VND. The program will concentrate on startups in six primary domains: Education, Health, Retail, Financial Technology, Smart Cities, and AI Applications. These areas align closely with FPT's core strengths in developing technology solutions.

The program is meticulously crafted with three support packages: "Breakthrough," "Productivity Enhancement," and "Expert," tailored to aid startups in saving operational costs and enhancing the efficiency of investment capital. In 2023, the program supported 15 startups, resulting in savings exceeding 2 billion VND in construction and deployment costs for applications and products on the cloud computing platform, based on the utilization of FPT Cloud infrastructure and strategic global partnerships with Microsoft and Google.

Following the funding period, startups are entitled to a 50% discount on FPT Cloud Server, FPT Object Storage, or FPT Kubernetes Engine services. They can also enjoy complimentary access to premium features, including FPT Cloud Autoscale, FPT IAM, FPT Cloud Guard, and FPT Monitoring.

The program empowers entrepreneurs to operate and grow their businesses by leveraging the benefits of technology and tapping into the available resources and global networks of large corporations like FPT. It provides unlimited opportunities for companies to build robust infrastructure, ensuring stable operations anytime and anywhere, accelerating expansion, and meeting sudden business scale requirements due to AI and Cloud technologies - critical drivers of global development.

Beyond cost savings, startups receive direct support from a team of seasoned technology experts, significantly reducing the time required for designing and implementing ideas for products and services on cloud technology platforms. This support also enhances the capacity and professional knowledge of the startup's staff. Moreover, experts, product managers, and consultants from leading corporations and technology firms worldwide will guide businesses through comprehensive training programs and provide tailored consultation to construct specific roadmaps (1:1) and support implementation throughout their journey.

Deputy CEO of FPT Smart Cloud Nguyen Ngoc Minh, in a cooperation discussion with NVIDIA

"Vietnam's innovation and startup ecosystem is experiencing robust growth and has significantly contributed to the country's economic development. The Startup Acceleration Program with FPT Smart Cloud will provide selected startups with numerous opportunities to access cutting-edge technology, receive support from technology experts, and benefit from shared startup experiences," stated Nguyen Ngoc Minh, Deputy CEO of FPT Smart Cloud.

The "Startup Acceleration" program is integral to FPT Smart Cloud's strategy of supporting the development of the startup community in Vietnam. To be eligible, businesses must meet specific criteria: they must have been founded for less than five years in Vietnam, have yet to raise series B capital, and have products developed based on digital technology.