Hanoi University of Science and Technology has just announced the establishment of BK Fund, which specializes in investing in startups. This fund is temporarily managed by Hanoi Technology Investment and Development Company (BK Holdings).
Hanoi University of Science and Technology does not contribute capital in cash but with brand name and trademark right of the school, equivalent to 15% of the shares, this share will not change over time and size of the fund.
The initial goal of BKFund is to help potential research topics and innovative and creative ideas of Polytechnic faculty and students become commercial products that meet the needs of society.
With a capital of VND 20-50 billion, BK Fund intends to invest about VND 1 billion in each project, targeting companies that are in the “incubation” stage. The investment period lasts 4-5 years, after which the fund will divest. According to this university, BK Fund not only invests capital but also mobilizes “brainpower” from the network of more than 200,000 Bach Khoa students.
BKFund is the first venture capital fund for universities in Vietnam. Photo: Hanoi University of Science and Technology
TS Nguyen Quan, chairman of the alumni network, former minister of Science and Technology, hopes that the capital size of BK Fund will increase rapidly. “This is the first official venture capital fund for universities in Vietnam,” the former minister said.
Hanoi University of Science and Technology is one of the famous universities in Vietnam. This school has just entered the Top 300 of the Ranking of the Best Universities in Asia in 2020 by Times Higher Education. This is also where many successful entrepreneurs and startup founders studied such as Mr. Hoang Nam Tien – Chairman of FPT Telecom; “Father” of Flappy Bird Nguyen Ha Dong, founder of Got It Hung Tran.