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The cooperation between REE and Zone Startups Vietnam is part of REE’s strategic activities to support and promote the potential startup ecosystem in Vietnam.
At the end of November 2021, Refrigeration Electrical Engineering Corporation (REE) and Zone Startups Vietnam have signed a cooperation agreement with the aim of finding potential technology startups to support, train and generate business opportunities within the REE ecosystem. The agreement also foresees capital funding for the most promising startups.
Starting 2022, REE will be implementing its 3-to-5-year strategic plan, which aims to implement the following objectives:
- Investing in digitalization, building a digital data culture and a centralized database platform;
- Applying a shared service model, developing a digital ecosystem to supporting existing business models;
- Building relationships with technology startups and leading technology corporations.
The partnership with Zone Startups Vietnam is a key strategic step in achieving these goals and capturing future potential growth.
Refrigeration Electrical Engineering Co. (REE) was a pioneer in Vietnam in technology, having been the second company listed in the Vietnam Stock Exchange back in 2000. Currently, REE is expanding its diversified business activities across a number of fields, including M&E refrigeration engineering; Real Estate development; Electricity and Water infrastructure.
Vietnam’s startup ecosystem is currently ranked third in ASEAN, after Singapore and Indonesia. In the past two years, the total value of investment in technology startups has increased more than 6 times. With a market of nearly 100 million people and mostly young people, Vietnam’s startup ecosystem is currently receiving great attention from domestic corporations as well as Ventures funds. The cooperation between REE and Zone Startups Vietnam is part of REE’s strategic activities to support and promote the potential startup ecosystem in Vietnam. Combined with Zone Startups’ experience, this initiative is expected to bring business opportunities, foster innovation, provide market and great resources to support Vietnamese startup Ecosystem.
Zone Startups Vietnam (ZSV) is part of the global network of Zone Startups accelerator programs, entered Vietnam since 2018 in partnership with Vinacapital Ventures, UniBrand, TalentNet, and TTG Holdings. The program focuses on sourcing forward-thinking founders and strong teams with visions to become fast-growing market leaders. The platform provides hands-on strategic and tactical guidance for startups looking to drive market validation and customer acquisition, as well as access to investors, corporate partners, and advisors.