At the first participation, Shark Viet suddenly agreed to invest USD 1 million for the Solar Thermal project for 10 years, and then Shark Vietnam invested VND 12 billion for the “haunted house” project of Tokai company in Japan. Sharing with reporters, Mr. Viet expresses his opinion clearly: In business, if you want to succeed, you have to make differences.
What is your goal when you attend Shark Tank Vietnam?
I used to be a startup, and I am now an entrepreneur and an investor. My first goal when joining Shark Tank is to share with startups and I hope them to keep their passion and success because the possibility of failure of a startup is very high.
The difficulty of a startup is choosing a business suitable to his/her capacity, limited capital, limited equipment and personnel. They need to be guided and advised by the previous generations, creating an inspiration to help them start their businesses.
On the contrary, when I help young people start their businesses, it is also an opportunity for me to interact, exchange, connect, know many people and expand my relationships. Young people are always enthusiastic to start their businesses, and they will inspire me. The two parties will mutually support each other. And when we meet, we will work together to develop good ideas.
Why does you decide to invest in the Solar Thermal project and “haunted house” of Tokai while other sharks refuse such projects?
To succeed, you must make differences. It is true in business; why do I have to follow the crowd? They have their own thoughts, and I have my own other thinking. Do what the crowd doesn’t do. Following the crowd is not always good, especially, in business, when you follow the crowd, you have to compete a lot. Young startups must remember this.
For the Solar Thermal Project, when all other people withdraw, I decide to make investment because I only think that: people want to have happiness for themselves, they must think about their origin.
Mr. Nguyen Van Khoe’s project is very beneficial for farmers, helping them dry agricultural products. However, he starts his career late, and he neither knows how to do business effectively nor has the capital to do business. I am an investor, so I see the benefits for farmers and invest to help them stabilize their life on their own land. In addition, if Mr. Khoe’s system is applied, there will be more advantages that Khoe himself does not think of. What one doesn’t find, I’m a “shark”, so I have to find.
For the haunted house project of Tokai company, if you want to succeed, you have to do what others have not done before; everyone withdraws for fear of risk, I invest in it. In business, without risk, it is not an investment. When we have made investments, we will not only support startups in term of money but also give them the sustainable and proper development orientations. Of course, INTRACOM is also strong in real estate, so this is also an opportunity for us to expand our ecosystem.
What are criteria of your investments? Is there any limitation in the areas you have invested?
I am an investor so I do not limit myself in the areas in which I have invested. INTRACOM is currently investing in real estate, hydropower, solar power and medical and health care projects. If I find any opportunity in any area, I am willing to invest in it.
However, it must be added that we are interested in power projects because we find that we sometimes treat the land unfairly. We make use of all the advantages and the most refined of the motherland but we rarely pay it any gratitude. Therefore, I want to develop environmentally friendly thermoelectric energy to return to the land what we have taken away from it.
In the international versions, many projects after failure of capital calling do business very well. Have you ever thought that you were wrong when you didn’t invest in a project?
Each person’s level is finite in infinite knowledge. Our understanding is only leaves in the forest. Therefore, Sharks’ comments are only limited to Sharks’ knowledge. The success or failure is decided by yourself, so there is nothing to worry about or regret.
In business investment, I do not make investments just because of my personal decisions and aspirations but I look at the market and the contributions of the projects to the society, community and the country. If I can do it, even I fail, I will be satisfied.
Business is a dedication to the society, not to myself. I also eat 3 meals a day only, sleep on a bed and I can’t drive 2-3 cars at the same time.
What should young people do to successfully call capital from the Sharks in your opinions?
Their plans should be feasible. If they make plans that convince themselves and those around them, participate Shark Tank. However, they also have to understand that spending a lot of money means that earning a lot of money. When starting a business, choose a scale that fits their financial and management capacities. It is not necessary to start a big business; it is ok if they start a small business provided that it has good quality and high reputation.
Thank you for this conversation.
Anh Duong – Economic life.