We
all know Silicon Valley and the incredible advancements and achievements that
have been made in the San Francisco Bay area, California. From the high-tech
corporations that reside in Silicon Valley to the start-ups that are hoping to
make it big, America is where companies have gone to try and get their new tech
products on the market. But what if there was a new hub for technology and it
was on the other side of the world?
Most
ideas for new technology come from entrepreneurs in America and then the
products are manufactured in Asian countries. But what if entrepreneurs took
their ideas to Vietnam instead of California? Binh Tran and Eddie Thai are
entrepreneurs that have been to Silicon Valley and Binh Tran has tasted success
through his company Klout, which sold
for $200 million in 2014. These two men have left Silicon Valley, California to
see what possibilities await in Ho Chi Minh, southern Vietnam. They believe
there are more opportunities arising in Asia than in California right now. "Vietnam in the past 20 years has been one of the fastest
growing markets in the world," says Mr. Thai. (BBC News). For those of you
thinking, “What’s ever come out of Vietnam,” think apps, specifically, one of
the most downloaded apps ever: Flappy Bird. Flappy Bird was created by a
Vietnamese entrepreneur and is just one example of what young Vietnamese entrepreneurs
have to offer.
Vietnam
is gaining popularity quickly. Google has started to get in on the new
developments in Vietnam. Google boss Sundar Pichai has said Google will help
train 1,400 local IT engineers. “It will easily be in the top 10 countries for
many companies and people who are building products,” says Pichai (BBC News). Samsung
is also starting a $2 billion complex in Ho Chi Minh within the next couple of
weeks. This recognition from top companies like Google and Samsung, as well as
Intel and GE who already have investments in Vietnam can help create this idea
of another Silicon Valley in the world.
But
what the BBC and other sources fail to address is Vietnam’s political standing
and why Silicon Valley is currently in the United States. Vietnam has a
communist government ¾ vastly different to democracy in the United States. These
investments in Vietnam are going to drastically help the economy of the country
and also take it further away from it’s old agricultural roots, but right now
it does not have the same allure that the United States offers. San Francisco
doesn’t just offer a place to begin a start up company, but entertainment
factors for those who move to California to do in their down time. Vietnam’s
move into a technological hub is one that is going to take time. Vietnam can’t
become a second Silicon Valley without mimicking more about California than the
brilliant technological achievements.
Sources:
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