Strengthening Bilateral Ties: Singapore-Backed Initiatives for Vietnamese Startups

A New Era of Collaboration

In recent years, the partnership between Vietnam and Singapore has become increasingly vital, particularly in the realm of sustainable innovation. As businesses and investors pursue models that harmonize climate objectives with profitability, initiatives like UniVentures stand out as key enablers for Vietnamese startups ready to expand into regional markets.

The Heart of Innovation: UniVentures Gala

At the recent UniVentures gala dinner in Ho Chi Minh City, insights into Vietnam-Singapore innovation integration were shared among industry leaders. Chen Huifen, editor of The Business Times, moderated a panel that highlighted the unique roles both countries play. Singapore serves as a capital and logistics hub, while Vietnam is celebrated as a manufacturing powerhouse. However, as Huifen noted, both nations must effectively “mesh their gears” to truly harness their respective strengths.

Proactive Engagement from Vietnam

Dang Huynh Uc My, chairwoman of the agriculture conglomerate TTC AgriS, emphasized the need for Vietnamese companies to take charge rather than passively wait for foreign investments. Drawing from her experience, My pointed out that AgriS has successfully expanded beyond Vietnam, investing in countries like Australia and Singapore. This proactive stance showcases how Vietnamese companies can utilize Singapore’s systems to enhance their global market presence.

The Bigger Picture in Trade Integration

Since its establishment in 2011, AgriS’s trading hub in Singapore has paved the way for refining governance and data systems, allowing Vietnamese products to access significant global commodity markets, such as those in London and New York. My articulated that the partnership between these two nations could foster a competitive Asian model, especially for agricultural exports.

Government’s Role in Innovation

Lim Hwee Hua, chairwoman of Tembusu Partners and former minister in the Prime Minister’s Office, discussed the pivotal role of government support in fostering such integration. Singapore’s comprehensive, systemic approach—marked by streamlined business processes and clearly defined support programs—serves as a model that Vietnam can adopt to bolster its own startup ecosystem.

Ensuring Scalability of Sustainable Innovations

One of the pressing questions for investors today revolves around how to scale sustainable innovations effectively. Lim noted that despite the availability of capital, many ventures stumble due to insufficient business cases. Nguyen Do Dzung, co-founder and CEO of agritech startup EnFarm, echoed this sentiment, stressing the necessity of demonstrating unit economics at the deployment stage to attract funding. He highlighted that profitability in agriculture hinges on utilizing the entire value chain—requirements easily met through partnerships with larger, established companies.

Institutional Support Through Structured Programs

The Univentures platform was celebrated at the gala, where ten Vietnamese university-linked startups were awarded a total of $250,000 for their advancements. Sponsored by Singapore-based Golden Gate Ventures, these startups are set to participate in a multi-month incubation program designed to address vital aspects such as product-market fit and fundraising readiness. This structured approach promises critical mentorship and resource access that can significantly elevate their market viability.

Preparing for Regional Expansion

A subsequent phase of the UniVentures program promises to nurture teams that are ready for regional expansion, with potential follow-on opportunities through Block71 Singapore. Edward Lim, Vietnam country director for NUS Enterprise, recognized the immense talent emerging from Vietnam’s universities. The nearly 1,500 applications for UniVentures are testament to the growing landscape of entrepreneurship, emphasizing the pivotal role educational institutions play in driving innovation.

Comprehensive Strategic Partnership

The diplomatic relationship between Vietnam and Singapore was solidified with the designation of a Comprehensive Strategic Partnership in March 2025. This historic move not only signifies the highest tier of bilateral ties in Vietnam but also establishes a framework for ongoing collaboration in innovation and technology transfer, championed through initiatives like UniVentures.

Focused on Practical Solutions

The UniVentures initiative aims to integrate talented individuals from Vietnamese universities—students, alumni, and researchers—into the national startup ecosystem, focusing on sectors such as healthcare, sustainability, and financial literacy. Professor Benjamin Tee of NUS spoke about anchoring early-stage incubations in Vietnam to empower startups with the means to scale regionally and globally.

Public-Private Collaboration for Growth

The UniVentures initiative illustrates a robust alignment between public and private sectors in promoting cross-border innovation. Heng Swee Keat, chairman of Singapore’s National Research Foundation, reiterated Singapore’s commitment to the partnership, highlighting the complementary nature of both countries—Vietnam’s scalability paired with Singapore’s connectivity and capital access.

The Importance of Resilience

In the context of a fragmented global economy, fostering closer partnerships within Southeast Asia has never been more crucial. Heng underlined the importance of collaboration to build resilience, reiterating Singapore’s role as a trusted partner for Vietnam as both nations explore win-win opportunities across the region.

With these initiatives, the Vietnamese startup ecosystem is likely to achieve new heights, pushing boundaries and entering realms previously thought unattainable.