Vietnamese startup with only 35 people just received tens of millions of USD from Japanese corporation

Since 2009, the term "sharing economy" has begun to appear widely in the world with the emergence of technology startups such as Uber and Airbnb. In 2014, Vietnam allowed a pilot business model applying technology to connect transportation. After 10 years, this economic model has become familiar in Vietnam with startups such as Grab and be.

"The idea of the sharing economy is to find wasted resources and then help modify and adjust them to generate benefits. These resources are normally completely free, but when shared, they will generate profits to invest back into the resource owners.

Uber is in the taxi industry, Airbnb is in the homestay industry, we are in the Wi-Fi industry", Co-founder and CEO of start-up AWING Nguyen Tien Dung shared at the recent investment cooperation signing ceremony with NTT e-Asia Group. Recently, Japan's largest technology group, NTT, invested tens of millions of USD.

AWING is a technology startup, founded in 2017 in Vietnam, developing a technology platform to distribute advertising for brands to users on free Wi-Fi login screens. This startup has 35 employees.

The idea for AWING's operating model was born when the founders realized that the "gold mine" of free Wi-Fi in Vietnam was being wasted. Exploiting advertising through Wi-Fi would create benefits for all parties involved.

Start up Việt chỉ 35 người vừa được tập đoàn Nhật Bản rót chục triệu USD - 1 — Vietnamese startup raises tens of millions of USD from Japan's largest technology corporation (Photo: Huyen Trang).

Customers can use free high-quality Wi-Fi. For example, businesses such as Highlands Coffee, 7-Eleven, Trung Nguyen, restaurants... have additional marketing channels, and revenue is shared from advertising campaigns of brands. Brands that need to advertise their brands can reach millions of customers at actual consumer locations nationwide.

The startup representative said that this technology was created and developed entirely by Vietnamese people. After graduating from the Polytechnic University, Mr. Dung had the opportunity to work in the semiconductor technology sector at IBM Japan. Some time later, Mr. Dung received a master's scholarship in information and telecommunications technology from the Korean government in the wireless industry and resource optimization.

After returning home, he worked for FPT Software. After a while, this CEO decided to quit his job to start his own business when he saw an opportunity in the technology field he had studied in Korea.

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