TECHFEST: My Experience in the 2019 Event and Our Journey to the Top 10 Finals

Participating in Techfest in both 2018 and 2019, I noticed a stark difference in the overall atmosphere of the event. In 2018, I joined as an exhibitor to showcase the products of Adei House - My Son Sanctuary. The following year, I took on the role of raising capital for Shipway's technology products in the national semi-finals. Our journey from the semi-finals, where we were among the top 45, to the top 10 of the finals brought immense joy to me and the entire Shipway team.

Shipway is a mobile platform that facilitates connections between small and medium businesses and truck owners across the country. This enables shippers to find vehicles quickly and allows car owners to find suitable goods. When I received the entire business plan and relevant information for Shipway just 10 days before the semi-finals, it felt like a sprint for both me and the Shipway team. In those 10 days, I immersed myself in learning about Vietnam's logistics industry, Shipway's business model, and its competitors. Throughout this intense period, I was grateful to have J by my side, providing constant feedback and asking thought-provoking questions that motivated me to learn even more deeply about this project.

Lessons from the Techfest Journey: Insights into Fundraising and Investor Interest

Throughout the 10-day preparation period and the 4-day Techfest event, I kept reassuring the Shipway founder that I was so worried but I would try my best. At that point, Shipway's goal was to make it to the top 20 and gain marketing support. However, when we received the email stating that we had made it to the Finals, I felt incredibly lucky and accomplished! Standing alongside 9 other startups to raise capital, Shipway was the only one without a launched product or revenue. Despite this, we received high praise from investors, which was a promising sign.

Through this experience, I learned about the factors that investors are extremely interested in when considering startups. Some of these factors include:

• Does the product solve a significant societal pain point?

• How large is the potential market?

• Who are the competitors, and how well do you know them?

• What is the financial situation of the startup?

• What are the risks in the industry, and how does the startup plan to address them?

These insights have been invaluable in understanding the fundraising process and navigating investor interest. While these factors may not guarantee success, they do provide a framework for startups to evaluate their strengths and weaknesses and prepare accordingly.

I don't have a strong background in economics, so everything I'm sharing is based on my real-life experiences. I'm eager to continue learning and sharing with all of you who are involved in entrepreneurship and business. I appreciate you taking the time to read my post, and I would also like to extend my sincere gratitude to the following individuals and groups:

• The Shipway team: This group of talented individuals worked together to help Shipway succeed at Techfest 2019. I hope that Shipway will continue to soar in the future, especially as the product launch date approaches.

• Songhan Incubator: Their guidance, advice, and encouragement helped make our Techfest journey a complete success.

• Ms. Le My Nga: As a representative of the investment fund ICM - Innovation Capital Management, Ms. Nga took the time to train me for this year's Techfest competition. Her insights were invaluable, and her expertise in understanding investors is truly impressive.

• Mr. Nguyen Thanh Dong: As a member of The Voice of Vietnam's Startup Incubation Program Advisory Board, Mr. Dong spent an entire evening clarifying things I didn't understand. His guidance and support were greatly appreciated.

I also want to thank everyone who encouraged me and the Shipway team to push our limits and face our worries head-on. Techfest 2019 has come to a close, and I wish Shipway and the entire Vietnamese startup ecosystem continued growth and success. I am confident that Vietnamese startups will continue to shine and showcase their innovative spirit to friends in the region and beyond.