Emakase introduced Em Base Camp - an entrepreneur development program at "Source & Capital" Seminar

HO CHI MINH CITY, Vietnam, Oct. 29, 2024 /PRNewswire/ -- On October 24, 2024, the "Source & Capital" seminar, organized by Emakase in collaboration with its partners, took place at BLOCK71 Saigon, Ho Chi Minh City. The event attracted more than 70 participants, including investors, founders, and representatives from various organizations within the startup ecosystem.

Emakase is a consulting firm that specializes in providing consulting services in investment, fundraising, management, and business strategy for small and medium enterprises, as well as consulting on the implementation of innovation programs for startup-supporting organizations in Vietnam.

Through this seminar, Emakase hoped to create an opportunity for experts to share how startups can build internal strength and prepare resources amid a tightening investment market, commonly referred to as the "fundraising winter."

The seminar unfolded over two engaging sessions. The "Source" session featured insights from startup founders who have successfully raised capital, while the "Capital" session brought together representatives from investment funds with substantial experience in the Vietnamese market. The event also featured a sharing session by Mr. Bui Hai Nam, Co-Founder and CEO of Sổ Bán Hàng, who offered valuable insights from his entrepreneurial journey and experiences in securing investment.

In the "Source" session, Mr. Nghia Vu, Co-Founder & CEO of Bizzi, observed that many investors often set unrealistic expectations, seeking 100x growth from startups, which makes it difficult to find suitable partners. He shared, "At Bizzi, our philosophy is to prepare for the worst when times are good. When we raise funds, it's not to achieve rapid growth but to ensure stability in the event of a market downturn," underscoring the need for a balanced approach that focuses on both growth and stability.

Meanwhile, Ms. Nguyen Thi Huong Giang, Founder and CEO of Tititada, emphasized the importance of building a long-term business model rather than simply following the investors' short-term demands. She advised, "Until the market recovers, we should focus on our strengths—doing what we can, controlling costs, and making steady progress," highlighting the importance of sustainable growth during challenging periods.

Adding to the conversation, Mr. Tran Van Vien, Co-Founder of Filum.ai and former Co-Founder of Base.vn (acquired by FPT Corporation in 2021), emphasized that "the most important factors in fundraising are building traction from the very beginning and finding investors whose 'appetite' aligns with your business to establish high trust levels."

The "Capital" session provided perspectives from representatives of ITI Fund, Do Ventures, and VIISA, who noted that while they engage with hundreds of startups each year, only 0.5-1% receive investment. For a startup to succeed in raising funds, it must excel in key areas such as product development, market understanding, and growth potential. Most importantly, the human factor—embodied in the founders and their team—plays a pivotal role in investment decisions.

Mr. Truc Tran, Investment Manager at Do Ventures, likened early-stage investment to finding a potential partner, where the human factors play a crucial role. Selecting the right founder is not just about potential profits but also about the sense of collaboration, shared values, and persistence in the long run. Investing in the right person helps minimize risks, but investors must still accept the inherent uncertainties—a fundamental part of venture capital.

At the same time, Ms. Kimmy Dang, Director at ITI Fund, offered a message to startups: "Founders and investors are on the same boat. When a business grows well, both sides benefit, and that is the real meaning of success." She emphasized that investors do not need to know the business better than the founder. In fact, no one understands a startup's operations and goals better than its founders. Every relationship in the investment world has value, and maintaining good relations with founders is the foundation for long-term success, thus, even if a deal falls short of expectations, the connection and collaboration hold enduring value.

Adding to these perspectives, Mr. Vo Tran Dinh Hieu, Board Member of VIISA, emphasizes that for effective collaboration, founders need to share clear and comprehensive business strategies, not just tell a polished story or create a flashy image. If both sides fail to achieve this openness and honesty, discussions become superficial, lacking the necessary trust, often leading to unbridgeable gaps. "Investment is a long-term journey; only with a foundation of honest information sharing can a partnership grow sustainably," he noted.

Moving to Mr. Bui Hai Nam's sharing session, he highlighted the necessity of having a clear exit strategy and demonstrating profitability to gain investor trust, especially during periods of tight capital flow. Reflecting on his successful fundraising experience with Sổ Bán Hàng, he noted that maintaining a startup requires more than just capital; it also relies on effective financial management and maximizing internal resources. He also added that in the toughest times, any amount of capital raised during a fundraising round is invaluable and can give a startup a lifeline and a chance to bounce back.

Acknowledging these challenges, Emakase introduced the "Em Base Camp" entrepreneurship development program during the seminar, aiming to support early-stage startups, those in greatest need of guidance and resources. Participants in the program do not have to give up equity and will receive a customized six-month development plan crafted with the support of Emakase's advisory team and industry experts.

Mr. Nguyen Minh Phuc, Managing Partner at Emakase, shared, "Media often highlights startups that successfully secured funds, but what about the countless others who are still struggling, who have not yet had their chance to shine? These are the startups that Em Base Camp was built for. We want to give them the support they need, to help them strengthen their foundation and give them the belief that one day, they too will stand tall and secure the investment they deserve. It's about giving every founder a fighting chance to make their vision a reality."

One of the unique aspects of Em Base Camp is its Expert-in-Residence (EIR) model, where founders work directly with industry-leading expert consultants from Emakase. The program leverages a team of experts with extensive experience across various fields and projects, enabling startups to address real-world challenges such as product development, market entry strategies, and financial management, ensuring that startups are well-equipped to overcome their difficulties.

Em Base Camp is now accepting applications, with the first cohort set to launch in January 2025. Startups interested in joining can find more information at: www.emakase.co/ebc.