Vietnam Venture Summit 2022: shifting global capital flows

TrueOrigin was one of 18 notable startups from Vietnam's innovation ecosystem present at this year's summit. On this journey of adventure, the crew are driven by a passion for discovery, while courage is the brave heart that creates hope and progress.

On 19 December the Vietnam Venture Summit 2022 drew a large audience of Vietnamese and international delegates. Held under the theme "Shifting global capital flows", the summit was organised on the morning of 19 December in Hanoi by the National Innovation Centre (NIC) of the Ministry of Planning and Investment together with Golden Gate Ventures. The event drew government leaders and representatives of many ministries, agencies, provinces, international organisations and investment funds.

According to Crunchbase News, total global venture capital investment in the third quarter of 2022 was 81 billion USD, down 90 billion (53%) year on year and 40 billion (33%) quarter on quarter. In South East Asia the startup investment market attracted 3.72 billion USD in the third quarter of 2022, down 36.4% year on year and 22% against the second quarter.

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TrueOrigin was one of 18 notable startups from Vietnam's innovation ecosystem present at this year's summit.

Onyx is a technology company that moved early into IoT hardware security, a new field with very few companies exploring it. After seven years of research and development Onyx has brought out breakthrough products that have won valuable domestic awards such as Sao Khuê and Smart City. Beyond that, four of its inventions have been recognised by WIPO as novel and groundbreaking, with strong practical applications:
1. CyLock — a new remote-lock technology replacing the rolling-code technology that has stood for 30 years.
2. eFence — an electronic perimeter fence based on a new coded-beam principle, opening the way to border fencing.
3. OnyxCypher — quantum-resistant cryptography
4. TrueOrigin — origin authentication with a chip-and-blockchain seal that cannot be forged,

TrueOrigin stands out among them. It is a WIPO global patent that solves a very basic and foundational problem in information technology: identity in digital transformation, an important cornerstone of the future, with a very wide range of applications across many fields. As a global patent, it opens an opportunity to export Vietnamese technology worldwide.

Photo: our CEO presenting a Vietnamese invention to the ministers.