DigiFrontiers#02|EdTech: the Seed of every Innovative Ecosystem| Trung Dũng, BKHolding & Hà Đậu, OMT

why do we choose Australia as our partner? Because Australia is a country Because Australia is a country that presents as a powerful player in education sector generally and Edtech in particular. Ms. Hannah, how can you relate your field to the topic of innovation as a whole and Edtech in particular? and Edtech in particular? With the market scale of 23 million learners With the market scale of 23 million learners With the market scale of 23 million learners With the market scale of 23 million l

earners and more than 1 million teachers, this market is large enough for us to provide the services. this market is large enough for us to provide the services. The potential of Edtech is absolutely positive We foresee that there will be a trend arising in Edtech field globally We foresee that there will be a trend arising in Edtech field globally related to Artificial Intelligence application, related to Artificial Intelligence application, related to Artificial Intelligence application, Adapt

ive Learning, Data Analytics, Gamification, Augmented Reality (AR), and Virtual Reality (VR). We have a seamless collaboration with Australian partners because We have a seamless collaboration with Australian partners because We have a seamless collaboration with Australian partners because for Australian, APAC market is a strategic market. for Australian, APAC market is a strategic market. for Australian, APAC market is a strategic market. In the process of studying innovation, we see that one

of the keywords representing the core value of innovation is diversity. is diversity. is diversity. not only in Edtech sector, Australia clearly has their own advantages in this particular field. I think smart production and smart agriculture industry I think smart production and smart agriculture industry I think smart production and smart agriculture industry I think smart production and smart agriculture industry I think smart production and smart agriculture industry have a lot of opportunit

ies to collaborate. have a lot of opportunities to collaborate. have a lot of opportunities to collaborate. Either collaborating or raising funds from Australia. or raising funds from Australia. When we conduct the incubation process for startups and businesses, for startups and businesses, one of the things that we encourage the young generation to do one of the things that we encourage the young generation to do is to go global. Step out into the world. Don't just keep thinking that we only ne

ed to solve the case of 100-million-people market. Welcome to Digi Frontiers podcast. This is Quoc Khanh, your Host. This is a collaboration between VIETSUCCESS and Australia Vietnam Leadership Dialogue (AVLD). We are going to explore the dynamic digital landscape of Australia and Vietnam. Looking forward to potential collaboration in the future in the field of innovation between two countries. In today's episode, we are honored to welcome 2 special guests to our show. First, I'd like to welcome

Mr. Nguyen Trung Dung, CEO of BK Holdings. He is also the President of Australia – Vietnam Edtech Alliance and Hanoi Innovation & Startup Association (HANISA). Hello Mr. Dung. Hello Khanh. Sitting right next to Mr. Dung, I am pleased to welcome Ms. Dau Thuy Ha. She is also known as Ms. Hannah. She is the Co-Founder and the CEO of The Online Management Training Company. She is also a Founder Member of Australia – Vietnam Edtech Alliance. Hello Ms. Hannah and Mr. Dung. Hi Khanh. Hi Dung. Today we

are going to discuss about the topic of potential collaboration between Australia and Vietnam in the field of innovation as a whole and Edtech in particular, which relates to the field that you are working in. First of all, to get a clearer perspective on what you have been doing during the past years. Mr. Dung, can you tell us more about BK Holdings and what you are doing related to innovation in the digital landscape. Because not everyone gets to know about BK Holdings although the corporatio

n already has 15 years of operation in the market. You may tell us more about what you are doing with the context of innovation in Vietnam and what you are pursuing. Thank you for your question. BK Holdings is an enterprise system established by Hanoi University of Science and Technology focusing on 3 main areas: investing in educational organizations, high schools, vocational colleges, international institutes, technology companies; Investing in the field of information technology, environmenta

l technology, materials technology, etc. And the last area is innovation. BK Holdings operates as a startup incubator, a fund accelerator, and also as an investor. We provide support for startups as well as spin-offs. We primarily focus on the high-tech fields. So you do invest in startups but your company is not a venture capital firm? Actually, BK Holdings does manage the first venture capital fund within the university in Vietnam which is called BK Fund, in accordance with Decree No. 38. We a

re raising the fund by calling for investment from the successful alumni of University of Science and Technology, coming back to support the young talents and researchers to bring new technological products to the market from startups and spin-offs' point of view. After 15 years operating in the market, can you give us some comments on the innovation ecosystem in Vietnam compared to the context of 15 years ago. From your perspective, how fast that picture is evolving? I would say innovation and

startup ecosystem in Vietnam have been thriving and flourishing. Especially after the decision was made in 2016 by the Government that officially promoted innovation. So far, the ecosystem in Vietnam has been structurally complete, which is transparently presented by the statistics of the number of investments made by investors for startups as well as Vietnamese enterprises. Secondly, Vietnam Innovation Index has performed outstandingly from a global perspective compared to the average income pe

r capita. Thank you, Mr. Dung. Ms. Hannah, how can you relate your field to the topic of innovation as a whole and Edtech in particular? I think in the context of many enterprises in Vietnam, even with the traditional enterprises, innovation has already been a part of it. Our country has a centrally-planned economy. In order to turn into market economy, holding the first or the second position in the rankings of many sectors, for example, in agricultural export or many other manufacturing sector

s. Apparently, we have to innovate. Because without innovation, we could not get anything done. From the perspective of a technology company, apparently, the technology itself changes really fast. So as a technology company, the company itself has to constantly innovate. Sometimes, people ask me why I put the name of my company as online something. The name of OMT company stands for the Online Management Training Company. And the company offers the systems: KidsOnline, SchoolOnline, CenterOnline

. People often wonder the reason why they are all online-based. These systems were established even before Covid pandemic. Because there are many people who need online platforms only when Covid happens. Actually, with the online aspect in every project that we do, we want to present that when our country is ready based on the current level of Internet coverage along with smart devices availability in Vietnam from 2015 or 2016 up to now. Because by that time, 4G has gradually covered nationwide.

Based on that solid foundation, we have to make use of that technology to carry out what we could not do in the previous period of time when we did not have technology or Internet, or what we could not carry out when we were offline. Now it should be conducted by Vietnamese people. And what our company can do is that we take advantage of those platforms in order to create more value for the education sector. We do not claim that we are more innovative than other enterprises. But for me, for my

company, and probably many other similar companies, I think innovation, like Dung said, is a part of everything we do. It is not something that we have to label ourselves to let the innovation aspect be visible to others. It is fortunate that, like Dung said, within the enterprise system in Vietnam, there are many other companies going the same way. I happen to work in the Edtech sector. In other sectors such as smart production, or smart agriculture, they are doing the same thing. Innovation is

also a part of the activities that the companies like BK Holdings, BK Fund, are assisting and promoting. Your company is an Edtech enterprise. Specifically, which social problems does your company try to solve? What is the biggest challenge that you have to face in your sector? Education sector in Vietnam is quite similar to other countries. By its nature, the education sector does not necessarily grow too fast. Because education appears to be the foundation of social development in general. So

in order to embrace the innovation in an industry that requires stability like education sector, we need to have some touchpoint that allows us to approach it. What we do is that we see that we are able to innovate immediately right before Covid pandemic the area of school operation management in kindergartens, inter-level schools, language and extracurricular centers. Because the management in such context is relatively similar to enterprise management and other traditional organizations. Ther

e are many areas that we can innovate immediately which do not create any impacts yet even make it more efficient in performing the main role of education, which is providing education for the young generation, raising the human capital, the human resources of our country. Our company is doing exactly the same thing. I see that the school management, or educational institutes management can be more efficient by leveraging technology. For example in admission management, financial management, bud

get management, and educational implementation management in terms of learning and teaching process can be conducted more effectively by technology. Those are the key aspects that KidsOnline, SchoolOnline, CenterOnline are focusing on. It helps the teachers to focus more on their duties. For the school managers, it would take them less effort in preparing the reports and books. And the connection between parents and their children will be tightened thanks to technology. They will be more connect

ed with the schools. Not only connected primarily through the School Report Card or E-School Report Card. But more than that. Helping to solve the pain points of the schools in their management aspect. Now we are able to apply digital technology, and technological solutions into it. What are the key challenges to develop this kind of solution in Vietnam? How do you foresee the potential of growth in your sector in the future? Because education sector in Vietnam, luckily, has a relatively large s

cale. Statistically, in Vietnam we have around 22 to 23 million learners from the level of preschool all the way to university. Am I correct, Dung? With the market scale of 23 million learners With the market scale of 23 million learners and more than 1 million teachers, this market is large enough for us to provide the services. So I think this is a kind of advantage. Regarding the challenges, education is a sector that, as I said before, any actions taken need to be cautious. The same principl

e applies to technological implementation. There should have more in-depth considerations, debates, discussions before putting them into practice. Furthermore, although Internet coverage level in Vietnam is relatively high, smart devices availability level at schools are pretty low. In Australia, every student going to school has their own smart device. One child has one laptop, or one child has one device. The important thing is that each student can have their own account to personalize their

learning. In Vietnam, we have not reached that availability level yet. Nowadays, there are some non-public schools starting to offer one student - one smart device. But still not fully covering the scale of 22 to 23 million students. So when we have the Internet available but the demand of smart devices has still not been met, actually, there are a number of things we can do with technology. Yet, the technological application in education still remains deficient. Apparently, this goal cannot be

fulfilled right away. There are particular solutions for the short-term stage. The service that we are offering related to school management seems to suffer less, not being impacted much by the matter of one student - one smart device. Regarding the future potential, as I said before, our country at least has around 22 to 23 million learners. Not to mention many young people who are working have the demand of refreshing themselves, updating new skills, upskilling themselves. I think the actual n

umber of learners conducting activities related to education are around 40 up to 45 million people. Such market scale and workload are massive allowing Edtech as well as the enterprises providing traditional education with the disruption of technology to thrive and flourish. to thrive and flourish. Offering new ways of getting things done along with potential disruption in the context of the education sector. By looking back, I think Australia has much smaller number of users. In some areas, our

market in Vietnam currently has certain advantages. Our market has enough room for the growth of education and Edtech. Mr. Dung, Ms. Ha just shared about the topic of Edtech, which means educational technology. In BK Holdings, you invest in various sectors, not only Edtech and innovation ecosystem. First of all, can you share some comments on this sector? As Ms. Ha just mentioned, we have massive room for development. There are a number of opportunities out there. In the last 15 years, has BK H

oldings ever had any successful cases when investing in this sector? Or you can share your perspective on this sector about its potential in fundraising, for example. The potential of Edtech is absolutely positive presented by the statistics of investment not only globally but also domestically. We foresee that there will be a trend arising in Edtech field globally related to Artificial Intelligence application, Adaptive Learning, Data Analytics, Gamification, Augmented Reality (AR), and Virtual

Reality (VR). All of these trends are based on the surveys. Vietnam is not an exemption. Actually, BK Holdings not only invests in high-tech companies but also in other sectors such as IT, Fintech as well as Edtech. Now we have plenty of great examples. For example, we have successfully incubated and invested in a company with the picture of Fintech facilitates Edtech to grow. There are a number of interesting ideas for the young talents. It all promotes technological application in education.

Besides Edtech, how do you evaluate the innovation ecosystem and also the startups raising funds from BK Holdings, for example? Which sector do you think that Vietnam has performed pretty well in the last 15 years? The sector has plenty of successful startups who you have been investing in. Actually, besides Edtech, to be honest, Vietnam is a powerful player in the field related to IT. Because unlike the developed countries, IT sector does not require a massive investment in infrastructure, mach

inery and equipment. All we need is expertise. That is absolutely a strength of young Vietnamese engineers. Apparently, we have a lot of potential. But what is the main barrier and bottleneck that you think if we can resolve it, will our innovation ecosystem grow even faster? will our innovation ecosystem grow even faster? As you can see that the components of Vietnam innovation and startup ecosystem are structurally complete. However, personally I think the links between the components are not

strong enough. One of the biggest barriers is that our legal system has not caught up with the practice. For example, providing assistance for the investors suffering divestment when they invest in high-tech companies or startups. Ms. Ha, do you have any comments on legal aspects? Regarding legal aspect, as an enterprise, I have been running my own business for quite a long time. I see that there are many issues related to legal procedures. Nowadays, it has been a lot easier for Vietnamese busin

esses. For example, in terms of tax payment, or business insurance. Previously, it took us a lot of time to get it done. Now, thanks to technology, we can process tax payment online, and process business insurance online. Regarding the departments in a business, the people who are in charge of getting that job done, in fact, can be cut down quite a lot. However, as Dung just mentioned, I also see that having said that, if we look at Australia, then we will be upset a little bit. Especially from

startups' point of view. Because Australian government, even Australian Embassy overseas, particularly in Vietnam, and Austrade, the level of support they provide for Australian enterprises to go overseas is extremely high. We hope that later on in Vietnam, we will receive the same level of support. All the Ministries will offer more support for Vietnamese enterprises. I think they have already been supportive. However, if you look at Australian Embassy, for example, or Austrade, what they have

done so far for Australian enterprises in Vietnam. Apparently, there remains a lot of things that Vietnamese agencies can do. For example, it is challenging for us to contact VNtrade when we are in another country. Let's say, we want to ask them about the Edtech market in that country. And we want to expand our market to the neighboring countries. Actually, I think it may be because VNtrade in other countries are quite busy. Or may be that is not the right person to answer such kind of in-depth

questions. So I hope that later on, Vietnamese government agencies will offer a desired support for Vietnamese enterprises allowing Vietnamese enterprises alliance, Vietnamese technology companies to go overseas. Similar to Australia – Vietnam Edtech Alliance. This is an alliance that has just been founded and received generous support from the Vietnamese Embassy. Sorry, I mean Australian Embassy in Vietnam. In Vietnam we have HANISA facilitated by Mr. Dung, who directly supports and promotes st

artups. Apparently, Vietnamese businesses nowadays have ambitions not only at domestic scale. What we aim is to go overseas. In order to make it happen, the fastest route is to be supported by the Vietnamese Government. Especially by the representatives of Vietnamese Government in other countries. That is only what I hope for. It has nothing to do with legal issues or anything. My answer may not be aligned with your question. But that is something that I hope for. Your answer has gone beyond my

question. You just answered the next question I'd like to ask. Actually, I intended to ask you about the alliance where Ms. Ha is a Founder Member, and Mr. Dung is the President. Our today discussion is also a part of the project where we talk about potential collaboration between Australia and Vietnam, especially with the opportunities for the two countries to shake hands and head towards the future of innovation among the startups, Government, investors, and enterprises. Ms. Ha just mentioned

about Australia - Vietnam Edtech Alliance, where Mr. Dung presents as the President. Mr. Dung, can you tell us more about the alliance? What benefits does this alliance offer to the startups as well as Vietnamese and Australian businesses specifically? What opportunities will this alliance help to create for the digital landscape in Vietnam? When we conduct the incubation process for startups and businesses, one of the things that we encourage the young generation to do is to go global. Step out

into the world. Don't just keep thinking that we only need to solve the case of 100-million-people market. You have to solve the cases You have to solve the cases that embrace global issues. One of the examples explaining the reason why we have to encourage the young talents to do that is the story of Startup Nation Israel. Or a country with a very high Innovation Index with a population smaller than that of Ho Chi Minh City, which is Singapore. Right at the beginning, the startups in the count

ries with small population like that get to think globally. The markets in their countries themselves are not enough for them to carry out their businesses. In Vietnam, we hope that the young talents would not settle their satisfaction with our domestic market. You should go out into the world. That is the reason why Hanoi Innovation & Startup Association (HANISA) has discussed with Australian partners, who are Austrade and Australian Embassy in Vietnam, to establish an alliance connecting these

two markets. We bring Vietnamese startups to Australia at the same time, bring Australian startups to Vietnam. In the process of studying innovation, we see that one of the keywords representing the core value of innovation is diversity. Not for nothing are the countries like the United States of America or Israel recognized as startup nations. These nations are a blending of many people coming from different cultures, embracing diversity and different point of view. There are many countries wh

o have recognized this core value. And they have launched various programs to promote diversity. In order to make innovation happen, there has to be an intersection, not only with technological aspect. In Vietnam, when we mention about innovation, most of the time, people think about technology. It is not only a matter of technology. But also the matter of business, and even art. Technology, business, and art. That is the matter of art, business, and technology. To establish an alliance between

two countries, why do we choose Australia as our partner? Because Australia is a country that presents as a powerful player in education sector generally and Edtech in particular. They are developed countries having well set education, tourism, and agriculture as their goals. Therefore, we desire to help Australian startups to do their business here in Vietnam, collaborating with Vietnamese startups to resolve the cases in Vietnam and vice versa. Help to bring Vietnamese startups to Australia. B

ased on this collaboration, we have a community that grows together, and promotes business not only in Vietnam but also in Australia. Talking about innovation, the definition of competitive market does not exist. Instead, we often use the term 'ecosystem'. That is exactly the reason why. We resonate with each other, support each other. Actually, the Enterprise System within the University model is not something new from a global perspective. If we calculate the total revenue of all businesses wi

thin the ecosystem of MIT University in the US, it is equivalent to the GDP of the 11th largest country in the world. So it can be affirmed that this model is not something new in the world. However, in Vietnam, it is a brand-new model. Mr. Dung, from your point of view, among the opportunities that we can get from Australia, which aspect do you think to have the highest growing potential? If you can recall a specific example, which represents as a typical outcome of this alliance after bringing

Vietnamese startups to Australia or bringing Australian startups to Vietnam. I mean the specific outcome from what the alliance has done during the past period. Actually, the alliance was just established a few months ago. We are planning to create the occasions for startups from the two countries to learn more and promote each other's markets. We have also developed a program called 'Startup Planning Program'. The nature of this program is to support startups in both countries in terms of loca

tion, legal, consulting, mentoring, coaching. For sure, in the near future, we believe that there will be successful stories about not only Vietnamese startups in Australia but also Australian startups in Vietnam. Ms. Hannah, you just shared your thoughts about how Australian Government has supported the startups earlier. What is your thought about the benefits that Australia can offer or this alliance can offer to the startups working in the field of innovation in Vietnam? With the case of OMT

and KidsOnline, we want to join this alliance because I see that this collaboration is a win-win relationship. Our practical scenario is that during the past years, before joining this alliance, we have collaborated with some Australian partners facilitated by the Australian Embassy, specifically, that is Austrade presented by the Australian Embassy. What I really like is that the branding of Australian education itself has been very friendly and popular in Vietnam. Sometimes, Sometimes, when I

talk to Ms. Cuc Ha, one of the Founder Members of Hanoi Adelaide School in Hanoi. She has adopted the general education curriculum from South Australia into Vietnamese school. Sometimes, I tell her that actually the branding of Australian education has been recognized. Yes, it has been recognized. Now your job is to let the majority of Vietnamese people know that Sydney is no longer the capital of Australia. That's enough. A clearly specific KPI. Getting back to our case. The area that we most

focus on is working with the kindergartens in Vietnam. At preschool level, we can see that there are a number of applications developed by Australian Edtech companies can be reasonably used in Vietnam. It is because, firstly, they are all user-friendly, secondly, they are up-to-date, and thirdly, the Australian partners have turned the Australian Edtech products into easy-to-use products even in the countries where the English level still remains relatively low like in Vietnam. Especially at pr

eschool level, you probably know that it is not mandatory for preschool education, we even have not found our way to have English become more popular in this group. With the applications developed by the Australian, for example, we are currently using some English learning apps from Australia such as Royal ABC. They are also members of the alliance in Vietnam. When their partners listened to the stories that I shared, "it turns out that the most challenging aspect in deploying English learning,

it doesn't matter whether we have technology or not, at preschool level, is that most preschool teachers were hesitant to speak English." They responded in a second that, "we will join hands to promote a program to teach English to preschool teachers. Because the teachers are not familiar with English, we will make it bilingual." With technology, the matter of switching between two languages in order to facilitate a course called massive open online, for the very first time, offering bilingual v

ersion for preschool teachers. To help them get an Australian certificate of the capability to use English in preschool classes. This course has already been carried out. Learners have been supporting this course a lot. This course takes quite a long time to complete so its basic module is online-based which is currently being fully sponsored. Preschool teachers in Vietnam are very creative. They not only study online course but they also exchange knowledge during their lunch break. Twice a week

, each school can organize a session letting the teachers review their lessons together, reviewing what they have learned online. Now they can study offline with each other in order to improve their English skill based on the online study plan developed by Australian partners. I think this is a very practical example which can be applied right away in the context of Vietnam. When I told Austrade that story, I told them about the collaboration we had with Australian partners within this framework

but it was not our intention at the beginning. This opportunity of collaboration accidentally came by. Later on, Vietnamese teachers who are the users have made it go further, meaning that they have made it become even more sufficient. Our partners and colleagues at Austrade are getting excited about it. They really like it. if there is anything we can do to replicate such kind of practical application inside Australia - Vietnam Edtech Alliance will be great. Nowadays, those are the things th

at we have done so far. Since we are a new member, I have made a commitment that this year, we will have at least 1,000 Vietnamese preschool teachers who can get that certificate after finishing the online course. We almost reach the end of December but that goal has not been fulfilled. Actually, we are still on track to reach that goal. Everything we do that has technology involved will normally be tough at the first stage. It's called 'early adopters'. But when our skills reach a certain level

, for example, we have 100 preschool teachers already finishing the course and getting their certificate. From those 100 teachers, the number will go up to 500 to 1,000 teachers. The period of time to achieve those KPIs will be much shorter. This is a great thing when applying technology. Inside this alliance, I think we not only have only one specific example like studying English online with Australian curriculum in the context of a small sector like preschool. There are many other sectors t

hat can be applied right away. Regarding higher education sector, Australia is also a partner that Vietnam can learn a lot. Why don't we dream of one day overseas students come to Vietnam to study with a massive number just like international students come to Australia to study at Australian universities. Yeah. At the present, Australian Government has been conducting a project which is Aus4Innovation to support the development of science and technology as well as technology transfer, knowledge

transfer between two countries. As the matter of digital transformation along with rapid change in technology, when we collaborate with potential partners, we can learn from them. One day, there will be international students from Southeast Asian countries, African or European countries coming to Vietnam to study. I think with the advanced technology along with the rapid change of Edtech sector in particular and education sector as a whole, it is totally possible if we can promptly seize technol

ogical advancement. Ms. Ha, from your perspective, with the entrepreneurs in Vietnam or the people working in the innovation field who desire to look at this alliance or look at Australia as a chance to develop more products and grow their own markets. What is the room for development as well as the opportunities that the entrepreneurs in Vietnam can look forward to in terms of collaborating or being a part of this alliance? What opportunities will this alliance bring to them in terms of doing b

usiness? Which sectors is Australia demanding for or Which products, services are they demanding in Vietnam? Or any opportunities for human resources? To give a specific point of view to the entrepreneurs in Vietnam. Earlier we talked a little bit about the fact that startup enterprises in Vietnam had been drawing a lot of attention to many investment funds as well as various capital sources all over the world. Sometimes, when people talk about startup, especially technology startup, they tend t

o think of Silicon Valley immediately. Every startup tends to think that our investors likely come from Americas. I see that there are some entrepreneurs heading towards different directions, navigating another ways, choosing Australia as their target for example. They have turned out to be really successful. Personally, I was not studying in Australia. Actually, I was studying in the US. But I realize that not only in Edtech sector, Australia clearly has their own advantages in this particular

field. We have a seamless collaboration with Australian partners because for Australian, APAC market is a strategic market. Government along with the enterprises have come up with many products that meet the demand of this region. However, there remains many other sectors. I get to know a number of startups in other fields besides education. I think smart production and smart agriculture industry have a lot of opportunities to collaborate. Either collaborating or raising funds from Australia. or

raising funds from Australia. Regarding smart agriculture sector, Australia certainly has several core technologies available that can be functionally applied in Vietnam. Even in production or automated production, we can adopt robotics or VR, AR technologies into production in Vietnam. Because production sector in Vietnam is constantly expanding. There are plenty of non-traditional models operating in Vietnam. So I think that education, smart agriculture, smart production underly massive oppor

tunities to collaborate with Vietnam. One more reason why we'd rather think of Australia instead of merely looking at Silicon Valley is that, we just mention about the fact that Australian Embassy and Austrade are super friendly and supportive. With the specific requirements such as "Please suggest a potential partner for me. I'm interested in the smart agriculture sector. Don't tell me about livestock farming, I'm only interested in planting". They will suggest for us a list of partners, not on

ly 1 or 2 names. They may respond to our request pretty fast. Maybe because Australian Embassy and Austrade in Vietnam have fairly abundant human resources. So they probably offer a wide range of outcomes. Vietnam is a key partner of Australia. We have no reason to not take advantage of such opportunities. The way for us to get a partner, to get an investment fund can be shortened significantly if we have an open request with Austrade. if we have an open request with Austrade. Mr. Dung, from you

r point of view, among the opportunities that we can get from Australia, for example, we may get investment funds from Australia or they may come to Vietnam to recruit engineers, or Australia can be the market allowing Vietnamese startups to supply their products. Among those opportunities, which aspect do you think to have the highest growing potential? The one that has the highest capability to grow? The sector that I think to have the highest growing potential is Edtech. Not only at K-12 leve

l but also at university level. Regarding digital transformation, as I said before, at the present, technological advancement has created a lot of changes in education. If we are not aware of these changes, we cannot catch up with reality. Because we cannot imagine that in the next few years, less than a decade, some of Edtech and educational aspects will completely change. Even the mindset of getting a Bachelor degree, Master degree, or Doctor degree is not necessarily a future trend. Even the

top technology companies in the world has started to recruit the people who complete the online courses on the basis of the technologies that I mentioned earlier such as VR or AR. The mindset of going to a traditional university might disappear. Australian universities, for example, CloudDeakin is a typical case showing us the way they have made use of technology to make changes in management, as well as teaching methods. I think Vietnam should have a great transformation in this case. Not onl

y having the terms mentioned constantly on media, using the figurative language like digital transformation, industry 4.0, or digital economy, etc. We have talked a lot about it. But now it's time for us to take action. By collaborating with the top players in the world in education like Australia, we are able to join hands with them to grab the chance. So you think that Edtech is still the most potential sector. Specifically, the way we are going to collaborate is Vietnamese enterprises will ha

ve a chance to exploit the Australian market. Or Australia enterprises will make use of human resources from Vietnam. How are we going to collaborate more specifically? I think it should be a win-win relationship. I think it should be a win-win relationship. Bringing benefits for both sides. Our market is opened up for Australian partners. Australian market also needs to be opened up for us. From higher education perspective, developed countries including Australia have switched their focus to t

he third mission of higher education. For us, we still only focus on the first two missions. A university has three missions. The first mission is education. The second mission is research. And the third mission is innovation. Innovation is considered as the third mission. The top universities around the world have been focusing on this aspect. This is a hierarchy with education at the bottom, research in the middle, and innovation at the top. At the present, in education, we are focusing on enr

olling students, teaching, and collecting tuition fees. There are only a few universities focusing on research and development. There are only a few universities for example, Hanoi University of Science and Technology paying their attention to innovation aspect. Nowadays, we have a term that is on trending called 'Entrepreneur University'. This is something that the developed countries, including Australia, have been doing. They have gone a long way with respect to the third mission. How to crea

te a connection between universities, industries, enterprises and the Government in line with triple helix philosophy. In Vietnam, we have talked a lot about these terms for decades. To be honest, I have not witnessed any practical actions. So we can collaborate, and learn from them. Establishing win-win relationship with the Australian partners in order to catch up with this trend. In the era of digitalization, if we were not able to catch up with the trend, our education and Edtech sector woul

d be outdated. It would be a pity to miss this train. Mr. Dung just mentioned a very important point. The model between University of Science and Technology and BK Holdings, which is built from University of Science and Technology, is rarely seen in Vietnam, the model originated from a university. You also mentioned about different roles of triple helix including university, the State, and enterprises. As you said, the story of the collaboration among the triple helix had been discussed for year

s. But to make it happen and getting a practical outcome still remains as a big question. I wonder from BK Holdings' viewpoint in particular or from University of Science and Technology's viewpoint in general, is there any lesson learned from the last 15 years to build up an entrepreneur university as an innovation university like that? Is there any lesson learned that you can share for other universities to take it as a reference? Or you can share about the way to manage the relationship among

the triple helix from your experiences. Actually, the Enterprise System within the University model is not something new from a global perspective. We can look at some typical successful cases like NUS Enterprise of National University of Singapore, or Tsinghua Holdings of Tsinghua University. We also have the enterprise system of MIT University in the US. If we calculate the total revenue of all businesses within the ecosystem of MIT University in the US, it is equivalent to the GDP of the 11th

largest country in the world. So it can be affirmed that this model is not something new in the world. However, in Vietnam, it is a brand-new model. Around 15 years ago, in 2008, University of Science and Technology, on the basis of their development strategy, realized the fact that a top science and technology university got to have an enterprise system in order to promote knowledge transfer, technology transfer, which also presented as a bridge between academic level and enterprises, practica

l industries out there. This is the link among the triple helix One of the typical examples is that University of Science and Technology becoming the first-ever university to have venture capital BK Funds within the university. This is the link between the enterprises and the university. It's the return of the alumni who are all successful businessmen, extremely successful. Now they come back to not only provide the young talents with financial support, offering precede capital investment. More

importantly, they bring their enthusiasm, their experiences, their network to the young talents. Via the activities such as mentoring or coaching, they help the young talents to cut down the risks on the challenging entrepreneurship pathway. Letting the alumni - Facilitate the funds within the university. - Exactly. This is the bond between the university and the enterprises along with the assistance of the State. Luckily, BK Holdings has been trusted by the State to be assigned to undertake a n

ational mission. For example, conducting innovation program under the framework of National Program 844 enacted by the Ministry of Science and Technology. Or being a consultant for the Government under the Program 1665 enacted by the Ministry of Education and Training. Specifically, we need to adopt all entrepreneurship and innovation training programs into the universities. Promoting the programs related to financial mindset or STEM techniques to general education level in order to fully equip

the young talents with comprehensive knowledge and skillsets. In another country, I had a chance to attend the events organized by European and Japanese universities. Actually, for the universities which are called entrepreneur universities, their after-school program is the most interesting aspect. Innovative universities tend not to turn off the lights when the time is getting late. After-school hours are the most interesting period of time. Coding after school. For example, VUB university in

Brussels, Vrije Universiteit Brussel. They offer the after-school courses related to entrepreneurship and innovation maybe for undergraduate students, Bachelor degree or for post-graduate students, Master or Doctor degree. At that time, the businessmen will come back and carry out training sessions. If it is an investment training session, a CEO of an investment fund will be the Host. If it is a fundraising pitching training session, there will be another CEO to be the Host. This is a collaborat

ion between enterprises and the university. By this time, the matter of the unused research outcomes or the workforce supply does not meet the market demand will no longer be the case. Because they know how to work together seamlessly, how to build a tight connection among the university, enterprises, and the State at the top to support in terms of rules set, policies along with the first kick-start by offering just only a small investment fund. In any successful innovation models, for example,

of Silicon Valley, Poland innovation model, or Israel innovation model. Originally, they have done well in terms of connecting those three parties. There is nothing new here. The key thing is how we carry it out. As for the principle, everyone knows that. Your sharing makes me recall, whether accidentally or intentionally, among the people that I know, many of them are successful startup founders, and they all went to Hanoi University of Science and Technology. There is a connection here, right?

That means the alumni who gain their success in the innovation field has a certain connection to find their way back to partner and to offer training for students. Then it has to be a reason. There has to be successful outcomes from that university. This might be a case from Hanoi University of Science and Technology. If other universities desire to do the same thing, actually, you need to have the alumni graduating from your school who are successful in the innovation field. They may be the pi

oneers to come back and like Mr. Dung just said, to train how to pitch, to start up, to network, to raise funds. Then there must be practical outcomes from the alumni. Actually, personally I think that successful people, when they come back and share their stories with the young talents, will not talk about their success. They'd rather talk about their failure. From their failures, the young talents can get their own lesson learned and avoid such failures. Actually, talking about success, all su

ccessful people always share good stories. They'd rather talk about failure. In the early days, Vietnam innovation ecosystem had an interesting series talk called 'Fail Fast, Fail Smart'. That means we'd better fail fast and wrap up things fast. - Spending time doing other stuff. - That's right. There are people who are open to share those lessons. It is very valuable. When Mr. Dung talked about the role of the top universities like University of Science and Technology, conducting all three miss

ions - Three missions of higher education. - Right. Three missions of higher education. I'd like to add some points to that. What makes University of Science and Technology special is that there is a middle and high school wholly owned by the university, which is Ta Quang Buu Middle and High School. What makes them special is not because they are an outstanding school right at the beginning. In fact, their rankings level as well as prestigious level are increasing faster than other specialized h

igh schools within other universities. For example, the National University. At Ta Quang Buu school, when I first got to know about them, I have mostly worked with the kindergartens and high schools, when I came to Ta Quang Buu school, at first, this school was still in its early stage, same as entry quality. Only 3 years later, the school has completely changed. The parents have to line up or make a great attempt to find their ways in order to apply for their children to go to this school. Why

is that? Because what Ta Quang Buu school has done so well is that they have adopted technology along with Edtech into their program thoroughly. As I remember, Ta Quang Buu school is the first-ever high school in Vietnam to have FabLab. Before that, FabLab was only available in the universities. FabLab of Ta Quang Buu school plays an important role. I was also the person who presented a project related to VR, AR sponsored by UNICEF Vietnam to FabLab of Ta Quang Buu school. We donated some tablet

devices to the school supporting them in adopting more technologies which were, by that time, fairly new to general education such as VR or AR technologies. This school has done so well in this regard. I think that the key role of the schools, as Mr. Dung mentioned earlier, the top universities should disseminate those technologies from higher education all the way down to general education. Because at the general education level, the young students can see that, firstly, technology is not some

thing out of their reach. Not only the students of University of Science and Technology can be exposed to technology. Everybody can. Elementary school teachers can do the same thing. General education students from elementary to junior high school can make it happen as well. Applying technology and then creating new technology. From that I think the collaboration with Australian Edtech applications at the general education level is a quick way to streamline technology adoption process for those

schools. Particularly, in Ta Quang Buu school, they have applied an Edtech program from their Australian partner called 'Makers Empire'. They offer the programs that allow general education students to use 3D printing to create the designs within their reach. The concept of 3D design might make people think of advanced coding or something. But it's not that complicated. Only with a few movements such as drag and drop the objects on the screen to create the designs that can be printed in 3D, faci

litating their learning a lot. I see that the combination between a university in Vietnam, playing the role as a cradle, to support the high schools to make their moves in applying the technologies which are ready for adoption into general high schools, not specialized high schools alike Ta Quang Buu school before. I think the outcomes from Edtech application will be presented right away. That might be necessary because in Vietnam right now, we want to make it happen right away to let 22 - 23 mi

llion students become the students who are confident of their technological skill. At first, they are confident as technology users. Later on, they will be confident as technology creators. Even exporting the technology as well. Let's say in Switzerland, they have several places available in the city allowing them to test their products. They are allowed to use cryptocurrency, having ATMs in place, exchange cryptocurrency to cash. You can use cryptocurrency to buy a Lamborghini. You are allowed

to use it, and not violate any laws. We got to do the same thing. We need to have the places where we can build Regulatory Sandboxes to test the products. Innovation seems to remain as something to talk about at higher education level. We have not had any subjects that embraces the innovation. We have talked about 2 parties: enterprises and schools. I'd like to ask about the State a little bit. With the viewpoint of constructive discussions and what is expected from the economic sector. Like Mr.

Dung and Ms. Ha here, we are expecting from the State besides legal and divestment matters, as Mr. Dung mentioned at the beginning, besides legal matter, from our perspective, what are we expecting from the State in terms of regulatory role as well as promoting innovation? I would say from the State side, the State has taken many specific actions via the programs, the projects that support us a lot. Looking at National Innovation Index of Vietnam, we are ranked equal to the countries having ave

rage income much higher than us. I would say that currently, our government is doing quite well in promoting entrepreneurship and innovation ecosystem. However, it will be better if we are getting more innovative, and accelerate the pace of legal change in order to adapt to current activities. For example, recently, we have welcomed the new operation of Vietnam National Innovation Center. This is a very good sign. There are new industries, and new technologies that requires a testing ground in t

he form of Sandbox to give them confidence to carry it out. For example, high-tech products that are quite sensitive such as blockchain, cryptocurrency. Let's say in Switzerland, they have several places available in the city allowing them to test their products. They are allowed to use cryptocurrency, having ATMs in place, exchange cryptocurrency to cash. You can use cryptocurrency to buy a Lamborghini. You are allowed to use it, and not violate any laws. We got to do the same thing. We need to

have the places where we can build Regulatory Sandboxes to test the products. They are completely safe in such an environment. Not worry about violating the laws because our laws are not keeping up with reality. Technology changes really fast. If they have no places to test their products, where they can make the most of their creativity, it will be quite challenging for them. where they can make the most of their creativity, it will be quite challenging for them. Now we are on the right track.

I also agree with Ms. Ha on the aspect of innovation, Edtech application in education. We need to have a thorough plan from K-12 to higher education. If we only focus on the fact that startup is something that we only talk about at university or enterprises, this is absolutely misleading. In a research conducted in the most successful places where have incubating a number of successful startups, they always have decent preparation thoroughly from K-12 to higher education. There is a model calle

d entrepreneurship and innovation hierarchy. At the bottom of the hierarchy we have creativity. In the middle we have innovation, and at the top we have entrepreneurship. If we want to be successful at the top, we need to have a stable ground at the bottom. From K-12 level, students need to learn about creative thinking as well as STEM. At higher education level, they are fully equipped with comprehensive knowledge along with the skillsets. They are aware of the fact that whether it is suitable

for them to start up or not. It's not something like we organize several competitions, let students gain their awards and as it turns out, all startups originated from such contests either cannot last long or become zombie startups. Meaning that their businesses go nowhere and never reach their success. In other countries, they always stay well-prepared for that scenario from K-12 to higher education. Ms. Ha, do you want to add in any points to the role of the State matter from what Mr. Dung jus

t shared? I will share my viewpoint from the education sector. Like Mr. Dung said, actually, Vietnam has done well in terms of boosting the rankings of Vietnam Innovation Index globally. It's true that at the general education level, innovation seems to remain as something to talk about at higher education level. And innovation is not something that they should care about. Especially, at school, the teachers are not ready to talk about it. We have not had any subjects that embraces the innovatio

n. Of course, we cannot make it happen immediately. Of course, we cannot make it happen immediately. But there needs to have a link between Ministry of Education and Training and other Ministries in order to facilitate the process of implementing innovation program in education, educating them the fact that students may not necessarily have all the qualifications to be able to do different things. In general schools, especially public schools, students are allowed to do so. The students will not

lose their marks if they drop any courses that they do not want to study, to make time for doing an innovation project. Actually, there needs to be a mechanism. Similar to that, general schools need to have the partners helping them to execute it. It's not easy at all. We cannot jump to another level by ourselves. It's true that about having innovation program in place like the schools in Australia, we have not had it available yet here in Vietnam. We do have some examples but it is still a sma

ll number. It has not become a popular model. I hope that we will execute the innovation program at the general education level as soon as possible. Of course, we need to have strategic collaboration among the Ministries, Department of Education and Training, Department of Science and Technology, as well as other departments and agencies at the local level. If we're looking for a way to make it happen faster, I think based on what Mr. Dung and I are doing here, we hope that, by this time, Mr. Du

ng will not worry much about the top of the hierarchy. Because it's now having a better feeder base. Exactly, because from the viewpoint of providing support in terms of incubating enterprises at higher education level, we see that the students from general education level are too weak in their capability. - From K-12 level. - Too weak. In Innovation Index, Vietnam Entrepreneurship and Innovation Index is quite low. Human ability has 3 main areas. The first area is knowledge. The second one is s

kill. And the third one is attitude, or thinking. We can clearly see that the public schools tend to focus too much on cramming. The students are good at solving difficult math questions. They can write a comprehensive article. Meanwhile, non-public schools tend to focus too much on skills. They can present confidently. Their English skill is excellent. Same as doing stuffs such as doing group work, showing off their critical thinking skill. However, their knowledge is not as profound as the stu

dents studying at public schools. We need to find out the trade-off point in order to portrait the first-ever desired high school students. The third aspect is really important. At the present, about the Program 1665 conducted by the Ministry of Education and Training, it has been implemented a little bit late, but it's better than nothing. Helping to provide a proper mindset and attitude to get exposure to the creativity aspect of the innovation. In Western countries, they have established the

institutions, which is called Design Thinking Academy, specialized in training in thinking models for innovation. By now, we have not had it available in Vietnam. We do have plenty of contests for students. And never before has the term "startup" been as popular as it is now on media. If you turn on the TV from dawn to dusk, there are plenty of TV shows talking about it. We are calling the students and young talents for their volunteers yet we are not fully equipping them with weapons and armors

, they will sacrifice. They will sacrifice. In a recent statistics, it is not that recent actually, conducted a few years ago by an Israel expert. When he conducted a survey of entrepreneurship and innovation in Vietnam, he drew a conclusion which was quite overwhelming for people who worked in this industry. But actually, personally, I didn't find it shocking. He concluded that there was 95 to almost 100% startups in Vietnam were not startups pursuing innovation literally. They were just micro-

enterprises based on the digital platform to launch their products to the market. There is nothing shocking about this conclusion. Because it's just similar to the story of football. If we want our national team to be a qualified team heading to World Cup, same as when we want to have a number of unicorns, we need to start from the young team. Training them in a methodical and systematic manner. We need to have a long-term strategy. In terms of education as well as innovation, this is a long-ter

m story, not only in 1 or 2 days to make it happen. I have consulted for many universities. When I looked at their plans and their strategies, I was a bit shocked when it came to innovation. They have set the plan that until a particular year, there will be a certain number of groups of students can raise the funds from the investment funds, etc. These plans are impossible. We need to have a methodical preparation from the level of general education to higher education, postgraduate education. H

ow enterprise network connects with other components within the ecosystem. In many forums, I have also stated that our ecosystem is currently lacking a leader. Each member is playing in their own style. That is the key thing that we have to resolve. However, our ecosystem has already had a full list of components including the 3 key parties along with intermediary organizations. But overall, the heart of the ecosystem is human. In order to have the people who meet the standard, we need education

. To catch up with the world with full of changes, Edtech is an indispensable factor. If we don't seize the opportunity to apply Edtech, and we learn nothing from the most advanced Edtech applications around the world, we are going to miss that train once again. If the heart of the ecosystem is not having enough strength, all of the incubated startups surely cannot be successful. Because the seed is still the most important factor. Human factor plays the same role as seed. Thank you, Mr. Dung. T

his story is worth consideration. Because the nurturing process should be initiated from the root. We seem to merely focus on the top. Normally, not until after graduation, the students start to think about startup and stuff. It seems that nobody ever exploits the root. Innovation thinking, or entrepreneurship in this regard. Starting from elementary level especially, at junior high school and high school level, we should initiate that spirit. From what Mr. Dung just shared, we got to know a num

ber of startup ideas. Why don't we leverage the space for doing Edtech business for the sake of innovation? Earlier Khanh just said that we needed to embrace innovation aspect at junior high school and high school level. Please allow me to make a little correction to that point. Actually, at preschool level, we also have the potential in conducting innovation practice. - Even from preschool level? - Exactly. Actually, people might not notice it. Preschool teachers are the people who conduct inno

vation practice on a daily basis. Because they have to come up with new activities for the children everyday. After working with many preschool teachers at the schools that are using KidsOnline platform, there are more than 1,000 schools using it. I see that it is totally possible. Why not? It is totally possible to disseminate content about innovation from preschool level. The first reason is that as I said, preschool teachers are the people who are by nature very creative. This job requires th

em to come up with something new on a daily basis in order to create engagement and innovate their classes. Secondly, the children by nature have a high level of curiosity and they want to explore new things leading to a high level of creativity. When KidsOnline collaborates with Australian partners, in our programs, we also want to integrate updated education knowledge for the sake of preschool teachers first and foremost. After conducting all of these discussions, I want to add in preschool le

vel to Edtech innovation process. This is a place that a startup enterprise like us has a chance to have a good connection with the community of preschool teachers. We can connect with them to build an innovation ecosystem as soon as preschool level. It would be a crucial part of the national innovation ecosystem. At preschool level, it is possible for us to call for participation of not only the teachers and children, but also their parents. The wonderful thing about Vietnamese parents is that

most of them are still very young. Those young parents who have their kids go to kindergartens were mostly born from 1985 or later. For them, using technology as a user is not something new. It almost becomes a part of their lives. Many things to consider. We really need to build up from the root. That's how we raise a kid. if we want to have more innovation enterprises in the future, with children from their early stage of lives, their innovation spirit needs to be nurtured From preschool level

. From preschool level. It's like raising a kid. I'd like to add in some information here. Actually, when I talk about this topic in many forums and even as a consultant for the State's projects about the fact that we need to facilitate the innovation process from preschool level and above. There are even some people who are quite sensitive to the term 'startup'. Because their perception is misleading in terms of the fact that we don't encourage the young kids to start up. It is more about sprea

ding the inspiration of entrepreneurship spirit. Embracing the right mindset about innovation. We are not manipulating them to start up. Even with higher education students, we don't want them to do the same thing as successful people dropping out of school to start up. That is a completely misleading perception. At the present, we want to spread out the inspiration with a right mindset. All of what we do are based on legitimate scientific research. It is not an emotional judgment. For example,

there is a research conducted on 500 business owners of Fortune 500, which are the largest companies in the world. They have found out that all of those 500 CEOs have the same mindset in terms of effective thinking, design thinking. How can we educate that mindset to the children at the most basic level of education? So that when they grow up, they can have a right mindset, a high level of creativity, and an open mind towards changes and innovation. They will become a creative individual in thei

r businesses and organizations. Maybe in corporate innovation or startup, becoming a CEO or a Founder to create jobs, create values for society. It's not necessary that everyone has to start up. So I gotta add in this point and I'm totally against such misleading perception. The real game for professional startups only accounts for 3-5%. It's not something that happens in every industry, everyone can startup, or all of the students are encouraged to start up. That's the point that I want to make

a correction about entrepreneurship and innovation. The mindset is the factor that we are still missing. The mindset. That's right. It doesn't mean that we all need to start up. A person with an innovative mindset can They can perform well in any sectors, in their organizations, or their businesses. Now, we should focus on building up from the root, from a kid. - It's true that there are many - Actually, we have another barrier. When conducting a research about innovation, we have realized the

reason why it's easier for the Jewish to be creative and to grow rich. It is just obvious. In Judaism, they accidentally build up a right mindset of entrepreneurship and commercialization. They have a very open mind towards money. They even have jokes. For example, there is a God in heaven, and money falls underneath God. In a second, we can see that they have a right mindset towards growing rich and money. Meanwhile, how do we perceive money? Just a joke. during a long period of time, when bein

g a child, we are educated by a misleading perception towards growing rich and money matters. For example, a basic concept in Vietnamese fairy tales, once upon a time, in a family, there are two brothers. The older brother is wealthy while the younger brother is very poor. That's it. In a second, the children know what happens next. The older brother is a bad guy - And the younger brother is a good guy. - Rich guys are always bad. That is a story about the mindset. We are having a misleading min

dset about business and money. Therefore, from preschool to general education level, we have not developed a proper financial mindset, that is the problem. Personally, I have the experiences in playing the role as the President of Junior Achievement Vietnam, is the world's largest financial thinking education organization in Vietnam. We have produced several film series on Cartoon Network, which is called Cha-Ching. Previously, we also broadcasted the show 'The Smart Kids' on VTV1 channel. Throu

gh such stories, we hope that Vietnamese kids can have a proper financial thinking, not being influenced by the fairy tales, not letting it become a motif, a way of thinking, a misleading mindset. The parents must be startled by this fact. We need to change the way we are educating our kids. For years, the activities only focusing on the top phenomenon solve nothing if the root is not well nurtured. If we want to become an innovative country as Mr. Dung just said, for example, Israel is a startu

p nation. They have a religion, - a proper mindset about business and money. - The Jewish. Secondly, they can embrace diversity. Their citizens are the people from all over the world, from diverse cultures coming together to build up a country. They ensure to preserve the diversity exactly the same with the context of the United States. They also ensure to preserve the diversity. We are not surprised when seeing that the Jewish are successful across sectors around the globe. The Jewish are very

smart and innovative. As an investor, we appreciate the diversity as well. You can see that we have talked a lot about diversity, talking about triple helix, which is also about diversity, about an innovation hierarchy including creativity, innovation, and entrepreneurship, which is about diversity as well. As an investor, we normally invest in people rather than invest in product. If we see a group with all 5 members going to University of Science and Technology, they will surely fail. Or all 5

members going to National Economics University, or all 5 members going to Foreign Trade University, their business will fail since the diversity is not guaranteed. Their team should have a technology expert, a business expert, even an artist. A typical nation like Korea, they have their own outstanding innovation in terms of lifestyle, movies, music, those kinds of stuff. By now, we are just thinking about technology, business, and art. Diversity matters. So many things to think about. Thank yo

u so much. From the beginning till now, we have talked a lot about the opportunities that Australia can bring to Vietnam via these alliances. I'd like to summarize our today episode by proposing an opposite viewpoint. Because this show also targets many audiences in the Australian innovation ecosystem. What opportunities will Vietnam potentially bring to the people in the Australian innovation ecosystem? I'd like to hear from you guys about the opportunities that Vietnam can bring to the table f

or the innovation ecosystem. The Australian can consider it as their potential opportunities. Just one word, talent. Vietnam can provide human resources, engineers. Ms. Ha, what do you think? Like Mr. Dung just said, I also think that talent - is the most important factor. - The market. Moreover, regarding Vietnamese talents, if you know how to exploit, this is a relatively large scale talent pool. It leads to the matter of our market. In order to sufficiently exploit those talents, we can start

from applying the programs developed by Edtech startups in Australia into education. I see that Vietnam can bring to the table typical and practical use cases that Australia might not encounter in their country. Vietnam has larger scale allowing them to apply their technology, leveraging the scale to deploy their solutions faster. Furthermore, Vietnam is also a place that streamlines the process of expanding to other Asian countries. - Exactly. When it comes to geographic location, apparently,

Indonesia is closer to Australia than Vietnam. However, I'm Vietnamese so somehow I still think that Vietnamese and Australian mindset might have more in common. Besides, we also have First-generation and Second-generation Vietnamese Australians. This is a crucial community in Australia. I get to know some people, who are older than me, are holding key roles in Australian Government. So that the connection between Australia and Vietnam via both Vietnamese living in Australia and vice versa is so

mething that has not been exploited yet. Actually, we do have successful Vietnamese Australian businessmen here in Vietnam. There's just not as much and not outstanding as successful Vietnamese American businessmen. Therefore, we need to exploit more in this area. For example, in education, we now have schools that are highly prestigious from Australia coming to Vietnam. Vietnamese students are the factor bringing the diversity as well as achievements for Australian universities. For example, RM

IT University. At the general education level, we have Hanoi Adelaide School in Hanoi. We also have SACEi, providing programs developed by South Australian State Board of Education to Vietnamese high-school students. I just have not known much about any Australian preschool system in Vietnam. By looking back, I see that Vietnam can make a great contribution to Australia. If Australian investors bring their money here to invest and want to look for qualified startups, qualified businesses to coll

aborate, from your 15-year investing experiences in Vietnam, what are you going to tell them? not only Australian investors but also investors around the world have come to Vietnam. They want to seek for the talents in the field of technology. Vietnam is a right destination for them in the Southeast Asia region. Once again, talent matters. Thank you so much. Our today discussion has brought so many ideas with a lot of things to consider concerning the innovation aspect. It all comes from the roo

t. Ladies and gentlemen, we just listen to the sharing from Mr. Nguyen Trung Dung and Ms. Dau Thuy Ha. Mr. Dung is the CEO of BK Holdings. He is also the President of Vietnam-Australia Edtech Alliance. Ms. Ha is the Co-Founder of KidsOnline. She is also a Founder Member of Vietnam-Australia Edtech Alliance. They have provided us with a better understanding about innovation in Vietnam, particularly in the Edtech sector. Education technology sector. We see that we still have a lot of potentials fo

r development, bringing opportunities to the entrepreneurs in this sector. As well as the opportunities to expose to Vietnam-Australia Edtech Alliance, collaboration opportunities with Australia with a great support from Australian Government. The potentials coming from the collaboration among the enterprises and the opportunities from Vietnamese education for the entrepreneurs. Because there are so many ongoing issues that need to be resolved. Especially, how to change the mindset about the inn

ovation from preschool level, not only at higher education level itself. We have so many opportunities ahead for the entrepreneurs and innovators in Vietnam with many ideas. Regarding the role of enterprises, schools, and the State, we see that Australian Government as well as related organizations always desire to consider Vietnam as a potential market. We are having many future opportunities for development. Hopefully, through our discussion today, you can get some key takeaways as your refere

nce. If you have any ideas or further inquiries, you can leave your comments below. Thank you for tuning in to the show. You can subscribe to VIETSUCCESS channel to watch the next episodes. Or you can follow us on podcast platforms such as Spotify, or Apple Podcasts to listen to this conversation again anytime. This is a talk show in the podcast series called Digi Frontiers, which is a collaboration between VIETSUCCESS and Australia-Vietnam Leadership Dialogue. We'd like to portray and bring man

y stories, sharing from the members, the leaders of enterprises, Australian and Vietnamese experts. They will share their stories along with potential collaboration between the two countries in the field of innovation. I will see you guys in the next episodes of the show. Don't forget to subscribe us and leave your emails in the newsletter section down below to receive newsletter from our channel every Thursday morning to stay updated with the most valuable insights from content of the show as w

ell as leaders' sharing. Once again, thank you for listening. I will see you guys in the next episodes of series Digi Frontiers on VIETSUCCESS channel. Thank you so much. Thank you, Host Khanh.