TS - Mike Drucker 1: An Interview with Mike Ducker
Mike Ducker, Director of the Mekong Startup Ecosystem Development Program – Tiger@Mekong, funded by the U.S. Government, had a conversation with Tia Sáng after nearly five years of working closely with young people eager to change the world.
Q: Where does the Mekong startup community stand on the global startup map?
It’s difficult to immediately locate this community because it is so diverse. Major cities like Bangkok or Ho Chi Minh City are very dynamic, while rural areas in Laos show little interest in the concept of "innovative entrepreneurship." I believe there is still a lot to be done for the startup story in this new region. The emerging startup community here faces many challenges, such as finding support. Many people choose Singapore or Malaysia as a starting point, as it seems easier to begin their journey there. If this continues, it will be detrimental to the ecosystem across the region.
Q: What about Vietnam, Mr. Ducker?
Vietnam is an exciting region. The energy of young people here is approaching the development of the startup community in Thailand. However, I often look at the development of individual cities, such as Hanoi and Ho Chi Minh City, which could be compared to Bangkok in terms of the density of the ecosystem. Unfortunately, I still don’t see a long-term program in Vietnam that could support young entrepreneurs to confidently embark on this challenging journey.
Q: Why does everyone always talk about the "ecosystem"?
I’m always excited to visit Vietnam because I know I’ll meet young people who are really focused on cool, innovative ideas and new technologies. An ecosystem is about mutual support between the components of a startup community, and in Vietnam, it’s still lacking:
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Although the Vietnamese government is working hard, I’m still waiting for a private entity that can successfully support startups. We really need private companies to play a larger role in the big picture. In places where I’ve been involved, including my hometown of Detroit, many successful entrepreneurs have taken responsibility for creating venture capital funds and business incubators.
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You also need mentors who have the right skills, time, and passion to walk alongside startups toward greater success.
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Long-term programs are also needed to “push” startups to new heights in terms of economic growth.
Q: You also serve as a mentor and even teach mentors. What do you focus on the most for startups in today’s environment?
A startup often means the “assumption of success” on a very long business journey. Therefore, transitioning from an "assumption" to “success” requires constant learning and action. I believe one of the most important things that entrepreneurs need to do is to turn off their computers and get out there. They need to interact with the market, partners, and even competitors. They need to meet with potential customers, suppliers, and people in the same industry. To truly understand the industry you want to change, you need to spend a lot of time in the real world, especially understanding technology and current trends.
The second thing is that many entrepreneurs think they need investment, but in reality, what they truly need is a strong team to help turn their dreams into reality. Therefore, the strategy is sometimes as simple as identifying the types of people, qualities, and skills to find a co-founder for the business.
Q: We see two types of startups in Vietnam: One relies entirely on the power of technology, and the other follows traditional business models. What do you think about this difference?
It depends on their dreams and vision. In the world I live in, where I breathe and work, there are people who want to use technology to change people’s lives. They are individuals or teams that are particularly creative, introducing new technologies or business models. That’s what makes entrepreneurship exciting. The traditional model is simply about survival, and that’s less fun. Additionally, the world doesn't change because of one company; it needs a startup community that works together to push technology to serve life and change things faster. This is what Silicon Valley is doing, and many places around the world are replicating this model. There are hundreds of thousands of small, micro-businesses created for survival, but very few startups are created with a mission to make a change. I’m not sure how many of these businesses exist in Vietnam, but globally, the businesses focused on technology and innovation only account for 5-15%. However, these few are the ones creating new value, adding value to the market. They are the ones with entrepreneurial qualities, very different, capable of breaking through walls to create a new path that few people take.
Q: What do you think about building Hanoi, Da Nang, and Ho Chi Minh City as startup cities?
That’s a great opportunity, but with greater challenges ahead, not only for the government but also for many others wanting to build startup cities. When working with government leaders, the one thing I always repeat is: Let the ecosystem grow naturally. Many organizations, universities, private sectors, tech communities, and individual investors want to participate in building the startup ecosystem. Therefore, the simplest thing the government needs to do is to sit down with them and ask what kind of support they need, rather than creating government-only programs, which unintentionally hinder or compete with these organizations.
Q: Should we focus on building Vietnam as a high-tech agricultural startup hub?
In the U.S., some of the most creative companies are agricultural companies. The productivity and quality of U.S. agriculture are improving thanks to technological innovation and entrepreneurial efforts. I don’t know many agricultural startups in Vietnam, but globally, this is not an "easy" field. From ideas to technology to farming, it’s a long and tough journey. The agricultural environment, especially traditional farming, is hard to change in terms of thinking and practice. Introducing a new product to young people in urban areas is easier, as they are more adaptable to new technologies. However, difficult doesn’t mean impossible. If there is a large enough vision and aspiration to improve the quality of agriculture, it is achievable. But it requires a lot of perseverance. For example, in Kenya, the change is very slow, but it is happening.
Q: Do you think Vietnam should follow a startup model from another country?
My first thought is that Vietnam should go its own way, but of course, the private sector should lead the way. From there, we can find the development model that best suits Vietnam. For example, in Egypt, a country similar to Vietnam in terms of population and agriculture, I’ve seen entrepreneurs who decided to “create change” and organized many activities. From there, many youth groups were formed, nonprofit organizations were created, and startups were developed in a more professional manner. They work together according to a special formula: No organization can do everything, and everyone relies on each other to grow. Incubators, angel investor groups, and venture capitalists all take on their responsibilities and work together towards the common goal of building successful startups. Although Egypt may seem far away, the lessons learned from this country could offer great suggestions for Vietnam.
Q: Do you have a checklist of essential conditions for a startup company you would support?
The most important factor is the founders and their team. How serious are they? How passionate are they about the idea they intend to pursue? All the early-stage investors I know share one thing in common: They invest if they can see the hunger and determination in the eyes of the founders to turn their ideas into reality. Unique ideas are important, but I believe people matter much more. After that, I consider the market opportunity, its size, and the alignment between the field and the capabilities of the founding team. I place my trust in people and their ambitions. Most of what I have learned will be shared with them, simply because I often fail more than I succeed on my entrepreneurial journey.
Thank you, Mr. Ducker.
Interview by: Kiên Chinh
Source: Tia Sáng
