Hub.IT opens, becoming a new center of startup activity in Vietnam capital Hanoi

Vietnam’s startup scene is on a strong growth clip as of late. Three hackathons this month, DEMO ASEAN in September, and more exits than any other country in the Southeast Asian region. But what’s special about Vietnam is that it isn’t dominated by one major city like Bangkok or Jakarta, where much of the population lives and does business.

It’s separated into two cities, Hanoi and Ho Chi Minh city. And although Ho Chi Minh city has always been the commercial capital of Vietnam, where money reigns supreme, Hanoi has long been the power center, where the government rules. It’s also a significant startup scene in its own right. That’s why this week, the opening of Hub.IT, a new co-working space in Hanoi, is another big step to growing the northern ecosystem and putting it on the map.

According to Bobby Liu, founder of the Hub.IT, he wants it to not just be a co-working space.

I didn’t want such a space to be just about cheap office rental, hence the idea of combining business incubation services.

Bobby wants to gather a new network of mentors, organizers, startups, events, and programs to come together around his co-working space. Bobby, who is a Singaporean based in Hanoi for over five years now, is able to bring in his links with colleagues and friends from Singapore and across the region. For example, for Hub.IT’s inauguration, it will hold a pitch session in coordination with Startup Nation, a foreign boutique angel investment and venture acceleration firm. The winning startup of this competition will win a six-month incubation program.

Hub.IT is also getting connected to regional friends like MAD Incubator based in Malaysia. Andrew Wong, CEO of MAD, says:

Bobby Liu and I share a similar vision of creating a Southeast Asian community that harnesses our diversity to create meaningful collaboration and market access within South East Asia. In due time, MAD Inc will be using Hub.IT as our Vietnam base for our incubatees who intend to penetrate into Vietnam.

The space, like most co-working spaces, will host weekly and monthly events like tech talks, and mentorship programs for startups and entrepreneurs in need of specific or general training. Hub.IT will be similar to Saigon Hub, based in Ho Chi Minh city, in that it will be an open space for people in the ecosystem to collaborate.