Five months after the Da Nang Venture and Angel Summit (DAVAS) in May, the city's startup support center says it can point to concrete investment outcomes, Da Nang Online reported on October 21.
According to the report, Summit Capital committed US$300,000 to FiveSS Technology in exchange for a 7.5 percent stake, BCA Group made a US$350,000 offer for the BioWraps project, and Digital Tourism Technology is negotiating a roughly US$40,000 investment. The summit drew more than 30 investors and funds and 62 startups and projects, 43 of them Vietnamese.
Nguyễn Việt Toàn, director of the Da Nang Innovation Startup Support Center (DISSC), said it sorts projects by sector, fundraising readiness and investor needs, tracks each startup during talks and helps those in due diligence with legal, intellectual-property, financial and data preparation. The report adds that the challenge is turning introductions into agreements. Its separate memorandum with Manabu Hubs, signed October 16, was covered earlier.
Why it matters: it shows what the city's investor events produced. Still unknown: the figures come from the center, and the report does not say whether the offers have closed.
Sources
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