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With a population of over 7 million people hanoi has a rich history dating back over 1000 years and it has emerged as one of the fastestgrowing startup hubs in southeast asia in recent years entrepreneurship has always been a part of hanois dna with small businesses and familyrun shops lining the citys streets however the citys startup scene has only started to take off in the past few years this is due in part to the citys strategic location which is wellconnected to the rest of southeast asia and has a relatively low cost of living compared to other major cities in the region hanoi is home to several universities and research institutions including the hanoi university of science and technology which is a top engineering and technology school in the country these institutions have produced a pool of talented graduates who have gone on to launch successful startups the city has also been investing in infrastructure to support its startup ecosystem in recent years the government has launched several initiatives to encourage entrepreneurship including tax breaks for startups and investment in coworking spaces and incubators hanoi also hosts a number of startup events and competitions throughout the year which has helped to create a vibrant and supportive community one of the most notable success stories to emerge from hanois startup scene is vng corporation a leading online gaming company in vietnam that has expanded into other southeast asian markets another notable startup is topica edtech group an online education company that offers courses in english language learning and vocational training the living wage in hanoi is relatively low with an average monthly salary of around 600 the citys unemployment rate is around 33 and with a growth rate of around 75 per year hanoi has seen a significant increase in the number of startups in recent years with over 3000 new startups established in 2020 alone with a supportive government a growing pool of talent and a vibrant startup community hanoi is poised to become a major player in the southeast asian startup ecosystem however there are still challenges ahead including access to funding and talent retention