Notably, within just the past three years, the company has raised more than $18.5 million in total.
Speaking at the seminar on startups in the era of AI development held on July 22, AI HAY CEO Nguyen Hoang Hiep said the platform was created to build a Q&A-based social network where users can share AI-generated answers and others can agree or disagree, thereby generating new conversations and insights.
Beyond successful fundraising, AI HAY has also secured technological sponsorships from Nvidia and Google, along with a notable $1 million in cloud computing support from Amazon Web Services (AWS). This makes AI HAY one of only three companies in Southeast Asia to receive this highly competitive AWS grant, selected from thousands of applicants.
However, Hiep acknowledged that like many startups, AI HAY also faced significant challenges in raising capital.
Tran Quang Duc, co-founder and CEO of AI Hay (far left), pictured with the executive team. Photo by VnExpress/Nhut Nam
From the perspective of a tech “unicorn,” VNG Corporation Founder and Chairman Le Hong Minh said that with the country’s strong digital transformation policies, Vietnam’s AI market holds immense potential. He noted that major enterprises are willing to invest heavily in talent capable of understanding and applying AI to solve real-world problems.
Instead of developing products and then seeking buyers, Minh advised startups to directly ask businesses what they need and offer solutions. By addressing real business challenges, startups can generate revenue, build capabilities, and gradually develop their own products.
From the management side, Tran Trong Tuyen, Deputy Director of Ho Chi Minh City’s Department of Science and Technology, announced that the city plans to officially launch an innovation startup hub to support AI-focused entrepreneurship.
The department will also propose solutions to enable startups to grow flexibly and sustainably. In parallel, it will promote strategies to apply AI in innovation through training programmes and competitions. Award-winning projects will receive support to evolve into high-value, scalable businesses.
Experts believed this is a promising time for innovation-driven startups, given the recent wave of policy support, especially Resolution 57 on breakthroughs in science, technology, innovation, and national digital transformation, and Resolution 68 on the private sector’s development issued by the Politburo.