VIETNAM BLOCKCHAIN ASSOCIATION (VBA) AND SPORES NETWORK CO-ORGANIZED SWITCHUP ACCELERATOR ROADSHOW: WEB3 LEADERS MEETUP

Dear: Our Media Outlets,

On July 6, 2023, the Vietnam Blockchain Association (VBA) and Spores Network hosted SwitchUp Accelerator Roadshow: Web3 Leaders Meetup in Ho Chi Minh city. This day marked the official establishment of our SwitchUp Accelerator Program, drawing together businesses in the Vietnam Web3 community and those in foreign countries. The event also included the signing of a Memorandum of Understanding (MOU) between IDG Capital Vietnam Blockchain and the SwitchUp program. Additionally, a panel discussion was also conducted, discussing the expectations of investment funds, as well as the potential and opportunities for start-up enterprise to lever on amidst the challenging landscape of the Web3 ecosystem.

During the event’s opening remarks, Mr. Eric Hung Nguyen — Deputy Head of Investment Promotion at VBA and CEO of Spores Network, stated, “The SwitchUp Accelerator Program centers on supporting Web3 startups in their fundraising process and advancing to new heights. Our mission is to form an alliance to accelerate entrepreneurship and a network of professionals that contribute to the growth of our Web3 ecosystem”.

In continuance of the opening speech, the MOU signing ceremony between Mr. Vo Qui Lam — Chief Financial Officer at IDGCVB, and Mr. Eric Hung Nguyen — Deputy Head of Investment Promotion at VBA, took place in the attendance of Mr. Phan Hong Quan, Head of Member Committee at VBA. Upon the significance of this collaboration, Mr. Vo Qui Lam shared, “IDG Capital Vietnam Blockchain aims to support and contribute to the development of Web3 startups in particular, and that of the Web3 industry, in general. I strongly believe that with the accompaniment of various leading partners, SwitchUp will become an intermediary that connects investment funds and startups, helping promising projects take off in their future endeavors”.

Mr. Phan Duc Trung, Deputy Chairman of Vietnam Blockchain Association, claimed, “Vietnam Blockchain Association and IDG Capital Vietnam Blockchain have signed a strategic cooperation agreement on March 24, 2023. We all compromised to connect capital support services with the most promising founders, with an aim to support them in accelerating and scaling up. The creation of SwitchUp — a capital support program driven by VBA and IDGCVB, highlights our strategic objectives and further strengthens the cooperation between two firms, as committed to the community. The SwitchUp program will mark a new milestone in promoting innovative changes of projects within the Blockchain industry, as well as traditional industries that are incorporating Blockchain technology”.

The panel discussion “Navigating Bear Markets: Meeting VC Expectations and Unveiling Secret of a Web3 Successful Entrepreneur” was an opportunity for representatives at VBA, Board of Directors at investment funds namely VIC Crypto, Kretos Ventures, Ferrum Network, and Greyball Ventures to come together and share insights into the future navigation of supporting startups. As a matter of fact, Mr. Phan Hong Quan, Head of Member Committee at VBA has declared that the fundamental elements for the growth of Blockchain industry are startups, investors and communities.

Mr. Quan also claimed that the SwitchUp program operates in the manner of PPP (Public Private Partnership). Originating from the notion that community is of paramount importance to the formation of startups and vice versa, startups can prove their capabilities by conveying values to the community. Consequently, Vietnam Blockchain Association, as a non-profit organization, can also be viewed as a bridge between startups, the community, and other organizations to promote the development of the Vietnamese blockchain industry. This facilitates effective and favorable advisory and investment connections, creating value for all parties involved.

The event was attended by nearly 200 guests, including strategic partners of the SwitchUp Startup Acceleration Program, representatives of investment funds, leading Web3 and blockchain companies, as well as projects interested in learning about the program. The SwitchUp Startup Acceleration Program will continue to organize the Web3 Leaders Meetup event in Hanoi on July 21st, 2023.

We highly appreciate the attention and support from our partnered media outlets.

For more information please contact:

Ms. Hoa Ha — Project Manager of the SwitchUp Accelerator Program

Email: hoa.ha@spores.app

Phone: +84382977686