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WORKSHOP: “Improving the effectiveness of investing in new technology – Lessons from Alibaba”

On the morning of April 7th, 2023, the workshop “Improving the effectiveness of investing in new technology – Lessons from Alibaba” took place in Ho Chi Minh City. The workshop was part of the Innovation Workshop Series initiated and led by IBP, along with partners including the Young Business Association of Ho Chi Minh City (YBA) and the Business Startup Support Center (BSSC)

The workshop was honored to welcome guests from large businesses in Vietnam, especially the appearance of two keynote speakers who are experts in investment and innovation in Vietnam and the world:

  • Mr. Teddy Lui, Chief Operating Officer of Alibaba Entrepreneurs Fund (AEF) – Alibaba Group.
  • Ms. Truong Ly Hoang Phi, Chairwoman of IBP’s Board of Directors and CEO, Vice Chairwoman of the Young Business Association of Ho Chi Minh City (YBA)

The workshop started with Ms. Truong Ly Hoang Phi sharing about Corporate Innovation, pointing out why companies often fail when investing in new technology, which is “not being able to identify the biggest challenge the company is facing”. Therefore, businesses should spend more time answering the question “Why?” – “Why should we do this? And is it worth doing this?”

Bà Trương Lý Hoàng Phi, Chủ tịch HĐQT và TGĐ Công ty IBP, Phó Chủ tịch Hội Doanh nhân trẻ HCM (YBA)
According to Ms. Truong Ly Hoang Phi, businesses should spend more time answering the question ‘Why?’ – ‘Why should we do this? And is it worth doing this?

Mr. Teddy Lui shared that “The important thing in investing is knowing ‘What do you have?’, ‘What do you not have?’ and ‘What do you demand from outside?’. When you want to invest, make sure you know “What do you want from startups?” He also affirmed that “Innovation is good, but it is also full of challenges”.

Ông Teddy Lui, Giám đốc Vận hành Quỹ Alibaba Entrepreneurs Fund (AEF) - Tập đoàn Alibaba
Mr. Teddy Lui is the Chief Operation Officer of the Alibaba Entrepreneurs Fund (AEF) – an affiliate of Alibaba Group

The workshop opened up a discussion space for high-level executives of large corporations such as PNJ, Qualcomm, SwissEP Vietnam, etc. on the resources for innovation, and factors that businesses should consider when implementing Acceleration/Incubation programs.