Softline Venture Partners announced 5DESIRE as the winner of DevGeneration Vietnam. 5DESIRE was awarded $20,000 and became the first infrastructure partner of Softline Venture in Vietnam.
Startup challenge “DevGeneration Vietnam” received more than 200 applications, and it was difficult task for the jury to choose a winner. The final shortlist mainly consisted of the projects from 5DESIRE incubator. Such density of the incubator’s projects in the shortlist caused to award the whole incubator instead of one startup.
Elena Alekseeva, CEO of Softline Venture Partners, comments on results of the challenge: “One of the reasons to launch DevGeneration Vietnam was our desire to understand the level of Vietnamese startups and if the local entrepreneurs are ready to launch innovative business. What we have seen, it surprised us: on the one hand mean level of received applications was low, but on the other hand there are some institutions that concentrate well-packed startups, that can potentially become good investment. The most notable startup institution, that took part in our challenge, was 5DESIRE. I’m sure that 5DESIRE incubators team fully deserved their victory and will arrange the prize between its projects in good faith”.
Besides the award, Softline Venture Partners announced 5DESIRE as the first infrastructure partner in Vietnam. The Russian venture fund and Vietnamese startup incubator starts mutual seed investment program which will invest $10,000 - $50,000 each startup. Aim of the program is to rise new generation of innovative entrepreneurs in Vietnam and increase the success of small businesses, with emphasis on IT.
Pham Le Nguyen, Founder of 5DESIRE, says: “It is great to have a contest like DevGeneration to encourage young people to start their online businesses in Vietnam. The desire of the contest perfectly matches the mission of 5DESIRE which is to support startups to think big and to go big. We are so happy to be the winner of Dev Generation contest, and even happier as the award is the start of the official partnership between 5DESIRE and Softline. We believe the Seed fund that 5DESIRE and Softline run together can create real value and bring real benefit for online startups in my country.”
About Softline Venture Partners
Softline Venture Partners, an affiliate of Softline Group of Russia, is designed to invest into software development projects of businesses and independent programmers in Russia, CIS countries and other nations. The fund deals with ambitious entrepreneurs and helps them carry out their ideas into practice and form an ecosystem of the business.
Appropriate maturity level: early and growing stages. Focus:
5DESIRE is a Vietnamese incubator and consulting firm whose mission is to help accelerate the successful development of startups in different sectors through an array of business support resources and services. Every year, a limited number of the best startups in Vietnam are chosen by 5DESIRE to participate in an incubation program focusing on product development, technology, business strategy, etc. During this incubation process, 5DESIRE works intensively with these budding companies to enable them to thrive and flourish by themselves.
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