13:00 | 14/03/2022 Companies
(VEN) - Online education in Vietnam holds great promise with tens of millions of potential students, rising middle-class incomes, and a high internet penetration of over 70 percent. Catalyzed by the pandemic, several edtech companies have been experiencing strong growth, providing an attractive opportunity for investors. Vietnam’s edtech startups are luring the interest of both local and foreign venture capital funds with new business models to tap into millions of online students. One of them is the Hung Vuong Education and Technology Joint Stock Company with its vuihoc.vn online education platform that lets students study on their own from an early age.
Before founding vuihoc.vn, CEO Do Ngoc Lam studied educational programs in the Republic of Korea and Japan. His team spent six months building their product based on references to online education platform models in China, India, and Singapore. It officially kicked off in March 2019.
In addition to helping improve students' knowledge, the platform’s founding team hopes to offer students the ability of self-study and self-development, viewing these methods as an extremely important soft skill for children’s development. Joining vuihoc.vn requires an initial entry test to choose the appropriate study package.
Vuihoc's lectures are designed based on learner surveys, especially among primary school students. It has English native speaker lecturers teaching students new words and sentence structures according to actual contexts. Each English lesson is conducted with a child’s assistance to become more interesting and attractive. At the end of the lesson, a Vietnamese teacher summarizes its contents to ensure learners thoroughly understand it. Based on the results of periodic tests, Vuihoc helps personalize learning so that each student can study best.
In July 2019, Vuihoc participated in the Viettel Advanced Solution Track 2019 – a contest for domestic and international startups. Vuihoc.vn was the only educational product that entered the final round, held in Cambodia.
Thanks to participation in the Viettel Advanced Solution Track 2019, CEO Do Ngoc Lam realized what needs to be improved and changed in Vuihoc’s business model, product quality and technology.
Since its launch in September 2020, vuihoc.vn has been used by 100,000 parents across the country, with a monthly login rate of over 50 percent.
|Vuihoc team has successfully developed an online educational product suitable and attractive to primary school students|
In August 2021, venture capital fund Do Ventures invested in Vuihoc as a technology startup with excellent execution capabilities, able to build products and services that improve the lives of consumers in Vietnam and Southeast Asia. Le Hoang Uyen Vy, General Partner of Do Ventures, assessed that Vuihoc team had successfully developed an online educational product suitable and attractive to primary school students. With the new investment, vuihoc.vn will continue to invest in technology in order to upgrade product features, diversify and better the quality of its learning materials.
Vuihoc is upgrading the adaptive learning system which, after analyzing the learning results of every student, gives advice on the best learning roadmaps for each one.
A representative of vuihoc.vn said personalization of learning roadmaps is adapted to the needs of students in both rural and urban areas, including courses comprising 1-3 lessons a week (each lasting 30-40 minutes) and courses with daily class participation.
|Project 844 on facilitating the national startup ecosystem aims to develop the innovative start-up market. The Newspaper of Industry and Trade has been acting as a bridge to support start-ups, help them expand markets and contribute to their efficiency.|