An Event within the IDAP Project
On the morning of December 27, 2024, the workshop “Impact Investment for Micro, Small, and Medium Enterprises in Agriculture and Tourism” was held online, attracting a wide range of businesses and cooperatives from various fields such as agriculture, tourism, and manufacturing. The event was organized by KisStartup within the framework of the IDAP project – the next phase of the GREAT project funded by the Australian Government, aiming to support small businesses and cooperatives in improving their access to investment capital.
The workshop began with an introduction by Ms. Nguyễn Đặng Tuấn Minh, CEO of KisStartup and program coordinator. The main speaker, Mr. Keith Ippel – CEO of Spring Activator and an international expert in impact investment – shared in-depth insights and inspired attending businesses.
Overview: Impact Investment and Opportunities in Vietnam
In the opening session, Ms. Nguyễn Đặng Tuấn Minh introduced the concept of impact investment – a form of investment aimed at generating financial returns alongside positive social or environmental impacts. Ms. Minh emphasized that in Vietnam, impact investment is creating significant opportunities, particularly in areas like sustainable agriculture, community-based tourism, and creative industries. With the rapid development of small businesses and cooperatives, accessing investment not only brings financial benefits but also promotes critical social values.
Fundraising Strategies: Trust Is the Key
In the following session, Mr. Keith Ippel guided businesses on building effective fundraising strategies. According to him, trust is the key to convincing investors. Businesses need to clearly present a robust business plan, maintain financial transparency, and demonstrate their ability to create sustainable social or environmental impact. He also noted that businesses should meticulously prepare financial forecasts and develop two scenarios – optimistic and cautious – to prove their viability in different situations.
Additionally, Mr. Keith introduced potential funding sources, including personal savings, family and friends, current revenue, grants, and loans. He particularly encouraged businesses to explore support funds from international organizations or experiment with crowdfunding – funding channels suitable for small businesses and cooperatives in their early development stages.
Engaging Interaction with Practical Challenges
Engaging Interaction with Practical Challenges
During the Q&A session of the workshop "Impact Investment for Micro, Small, and Medium Enterprises in Agriculture and Tourism," expert Keith shared crucial strategies to help businesses build sustainability and attract investors. When asked about balancing sustainability with social impact, Keith emphasized that sustainability must come first, as social impact can only thrive when a business is stable. Regarding expanding tourism products, he suggested businesses seek funding through crowdfunding or funds like Visa Vietnam.
Keith also shared methods for identifying ideal customers and creating positive experiences, advising businesses to thoroughly research customer demographics and behavior. When asked about cultural organizations, he mentioned seeking funding from family funds and private organizations, with detailed and convincing plans for investors. On standing out to investors, Keith recommended businesses practice presentations and craft compelling stories about their development journey.
A seafood farming cooperative shared difficulties in meeting collateral requirements for loans. In response, Mr. Keith suggested they approach grant funds from international organizations or try crowdfunding campaigns to reduce collateral pressure.
He also cited examples of successful businesses from simple ideas, emphasizing that sustainable development comes from clear vision and strategy. Finally, Keith shared that to access bank loans, businesses need detailed business plans and clear financial forecasts to build trust with investors. His advice provided practical strategies for small and medium businesses to confidently develop and attract investments.
A cultural expert inquired about funding or support for digitizing cultural heritage. Keith suggested important funding sources that could be utilized, including purchasing digitized data to serve their customers in the Canadian market. There are also funds specifically for culture, which can support not only tourism businesses but also create new business models.
When asked about developing local investors and promoting the local ecosystem, Keith stated that the most crucial factor is building trust among each other, including experienced and less experienced entrepreneurs. Inspiring investors with your story is essential.
Regarding leading a community to attract investment and development, Keith pointed to global examples like Chiwis and Bazerdan, highlighting the importance of trust, leveraging each member's strengths to complement one another, and setting a collaborative plan. More importantly, the community must have a business-minded leader with sales capabilities to guide everyone toward collective development.
When asked whether businesses creating jobs in the poorest areas can attract investment, the answer was a resounding yes, as these efforts generate employment in the places that need it most.
Next Steps
At the end of the workshop, the speakers recommended specific steps for participants to increase their chances of successful fundraising. Practicing presentations, building detailed business plans and financial forecasts, and investing in a compelling brand story will enhance a business's appeal to investors. Additionally, businesses need to clearly identify their unique selling points to establish sustainable competitive advantages.
The organizers provided an online form for participants to register for additional materials and personalized support from the program's experts.
Conclusion: Seizing Opportunities from Impact Investment
The workshop “Impact Investment for Micro, Small, and Medium Enterprises in Agriculture and Tourism” delivered practical knowledge and opened new perspectives on sustainable investment trends in Vietnam. The program not only provided small businesses and cooperatives with access to new knowledge but also helped them identify clear long-term development paths.
Follow the IDAP project and KisStartup to continue participating in meaningful and valuable programs in the future!
