Vietnam Innovative Startup Accelerator (VIISA), founded by FPT Ventures, Dragon Capital, and Hanwha Investment & Securities invested in technology platform for enterprise Base.vn in seed round fro. Base.vn was founded by Pham Kim Hung – “golden boy” of mathematics in Vietnam.
Pham Kim Hung is known as the “golden boy” because he has stellar achievements, especially in the field of mathematics, with 02 outstanding feats: the 2004 Gold Medal of the International Mathematical Olympiad (IMO), Silver Medal in IMO 2005 and many gold medals at other national and provincial level mathematics exams. He is also the author of a mathematical book published in four languages. From 2007 to 2012, he won a full scholarship and studied at Stanford University- one of the most prestigious universities in the U.S (major in computer science). In 2016, Pham Kim Hung was awarded “30 Under 30” by Forbes Vietnam for 30 outstanding individuals who had a great impact to the society (under the age of 30).
His time at Stanford helped Hung understand that life is only meaningful when we have an awareness of what we are doing and the value we create for people around. This is also the time Hung decided to start a business in Vietnam, creating products which bring value and make the impact. According to Hung, “getting back (Vietnam) to me is a totally worthwhile decision.”
Although the idea of building Base was 5 years ago, about a year ago, Hung & 15 people in a team could start the journey with it. The start of Base.vn comes from the process of working with many businesses. From that precious time, Hung realized that it took a long time to install more applications needed for an enterprise. From there, Hung came up with the idea of creating an open platform which enterprises can customize their applications accordingly. Base.vn has been serving nearly 500 business customers, with 5 main product lines that the company is aiming at Human Resources, Business, Administration, Finance, Marketing & Sales.
Base.vn is a technology platform built to align the management and execution. Unlike traditional solutions, the application on Base.vn is designed in-depth and optimized for each specific task in the enterprise and at the same time integrate together on a common platform. In addition, Base.vn can also connect the solution of many different suppliers, creating a powerful and comprehensive toolkit to help businesses to grow.
According to Hung, the start-up “is like an hourglass, the founders have to work diligently to find more sand to pour in, we can think of sand as experience, it is the market insight and the capability to build the product. The day you start your business is when the sand begins to turn upside down. People with more sand will be more likely to succeed.” He also has a unique perspective on passion in building products and businesses: “Passion is a must when starting a career journey, but only when the business makes every employee proud of, they will stick together and make the startup grow,” Hung said.
With the experience and reputation in building technology products as well as impressive achievements, Hung has received the investment from VIISA. Mr. Tran Huu Duc, CEO of VIISA, said that after a process of evaluation and analysis, VIISA decided to choose Base.vn as the first company to be in the Investment Track, the track for startup in growing stage. According to Mr. Duc, Base.vn has met the criteria including strong and comprehensive team; high-quality technology products; the ability to expand business and sustainable development in the future. The detail of the deal is undisclosed.
Base.vn is currently the first company to receive investment in this category from VIISA. According to Base, the financial information of this investment deal will be kept confidential as agreed by the parties; Together with VIISA, there will be four more funds and other private investors participating in the deal.
VIISA said the fund is especially interested in innovative, disruptive and futuristic technology solutions. A startup is selected based on various criteria such as a strong team to implement the idea; business expansion and sustainable development in the future, etc. According to the fund’s representative, many startups supported have achieved great success in the domestic market and in the region. VIISA Batch 4 is currently opened for submission at www.viisa.vn. VIISA’s batch 4 is scheduled to begin in the fourth quarter of 2018.
As for Pham Kim Hung & Base.vn, it is the motivation of adding more value to the homeland, the passion and most importantly, the pride of the product that will facilitate the process when Hung bring the Base.vn to conquer the next milestone in the journey, putting Vietnam forward in the 4th industrial revolution.
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