From tourist to founder – Graeme’s story
Graeme, a former English footballer, arrived in Vietnam for a short trip in early 2023. But the vibrant energy of Saigon, the low living costs, and the huge market potential convinced him to stay longer — and do more.
Starting with a café and Airbnb rental, he soon noticed a gap in the market: post-injury recovery services for everyday people. Drawing from his own rehab experience, he partnered with a sports science friend to launch Recover in Thao Dien, Thu Duc City. They imported equipment from the UK and US, bringing advanced recovery tech to Vietnam.
“Operating costs here are so much lower than in the UK or Australia. But navigating cultural differences, HR, and bureaucracy was something I had to learn quickly,” Graeme shared.
With support from his Vietnamese wife and a growing international team, Recover is now eyeing expansion to Hong Kong — all starting from a spontaneous holiday.
MyStorage – A business born from frustration
Similarly, American entrepreneur Aric Austin didn’t move to Vietnam to start a company. But during a visit in 2018, he noticed something missing: personal storage services — common in Singapore or Germany, but almost nonexistent in Ho Chi Minh City.
When he couldn’t find a place to store his belongings during a move, he created MyStorage in late 2019. It was the first of its kind in the city.
“In the West, customers seek out services. In Vietnam, you need to educate the market and constantly communicate,” Aric noted.
Today, MyStorage faces competition — and Aric sees that as a good thing. More players means more awareness and faster growth for the whole sector.
Why Vietnam?
According to StartupBlink, by 2024, Ho Chi Minh City had 182 foreign-owned startups, making up over 50% of the country’s foreign startups. The city jumped 68 spots in global rankings, now placed 111th worldwide in startup ecosystems.
So why are so many foreign founders choosing Vietnam?
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A young population: 75% under age 30.
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Low costs for living and launching a business.
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Dynamic lifestyle: motorbikes, street food, and a bustling street culture.
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Administrative reforms: faster, simpler company registration processes.
“Vietnam delivers a kind of chaotic but ordered energy you can’t find anywhere else in Southeast Asia,” said Vinnie Lauria, founder of Golden Gate Ventures.