NTT e-Asia’s investment in Awing is considered a solid stepping stone for this startup to reach the world. This event also opened a new wave of Japanese investment in Vietnamese information technology businesses.
Vietnamese startup will “Go Global”, first going to Thailand and Singapore
After the capital call, the amount of money invested by the Japanese network will not be withdrawn. Instead, the Vietnamese startup plans to use this capital to “go global”, entering the world market. This is also one of the few fundamental business models developed by Vietnamese people that are exported.
Talking to reporters, Mr. Nguyen Tien Dung, Chairman and CEO of startup Awing, said that normally, the advertising industry will account for 1-2% of GDP. In Vietnam, the scale of the advertising industry is currently about 2 billion USD, only about 0.5% of GDP, so there is still much room for development. Awing’s cooperation with NTT East aims to enter the global market.
“In the immediate future, we will aim to provide services in countries in the ASEAN region such as Indonesia, Thailand, Philippines, Malaysia, and Singapore. At the same time, Awing will take steps to bring its platform to the Japanese market”, Mr. Dung shared.
Mr. Nguyen Tien Dung, Chairman and CEO of startup Awing. Photo: Trong Dat
When entering the global market, the challenges this startup faces are identified as difficulties in capital, people, and trust of customers and partners. According to CEO Awing, receiving investment from NTT East will provide capital, as well as a guarantee of technology and brand in the process of going global.
Share with VietNamNet, Mr. Ebihara Takashi, Chairman of NTT e-Asia, said that NTT chose to invest in Awing because it highly appreciated the technology and unique business model of this startup.
“From an investment standpoint, NTT owns resources in many countries, along with relationships with telecommunications corporations and equipment manufacturers. This is why we believe Awing can build an ecosystem from this investment”, said Chairman of NTT e-Asia.