Global Rankings Highlight Ho Chi Minh City as a Leading Startup Hub

Ho Chi Minh City has made significant progress in the global startup market, according to the Global Startup Ecosystem Report 2023 by Startup Genome. The report places Ho Chi Minh City within the top 100 emerging startup markets worldwide, specifically ranking it in the range of 81-90.

The report evaluates six key indicators, including performance, funding, market reach, experience and talent, connectedness, and knowledge, with Ho Chi Minh City maintaining its scores in the first three indicators and improving significantly in the experience and talent indicator. The city’s People’s Committee has also released a report on the results of implementing the Plan 672, which supports the development of the innovative startup ecosystem in Ho Chi Minh City.

The city has exceeded the target set for the 2021-2025 period, with over 5,000 businesses supported in enhancing their innovative capacities and over 200 innovative startup enterprises supported in accessing venture capital investment. Meanwhile, Hanoi is absent from the Startup Genome rankings for both 2022 and 2023. The report also ranks the top 30 global ecosystems, with Silicon Valley, New York, and London maintaining their positions as the top three. Singapore has made its debut in the top 10 global startup ecosystems, rising from the 18th position last year to the eighth this year.