A gap between early-stage grants and larger commercial rounds persists as funding fell 52% in 2025. The report also examines the workforce capabilities needed to scale Vietnam’s climate tech sector, and women’s access to climate finance.

Ho Chi Minh City, 03 November 2026 – Recorded climate tech funding in Vietnam declined 52% in 2025 to US$49.86 million across 33 transactions, down from US$104.20 million across 60 transactions in 2024. 

While the 52% drop appears drastic, it was heavily skewed by 2024’s outlier total of US$70 million Series A investment in Techcoop. Setting aside the largest deal in each year, funding fell a more modest 19%, from US$34.2 million to US$27.86 million.

These findings come from a set of three Vietnam Climate Tech Ecosystem Reports focusing on climate tech funding, workforce, and women’s entrepreneurship, released by New Energy Nexus Vietnam, SNV Vietnam, World University Service of Canada (WUSC), and RMIT University Vietnam, and supported by Swiss EP.

Despite continued interest from potential regional funders, the financing gap between early-stage grants and larger commercial rounds remains a challenge. No recorded deal closed within the US$350,000 to US$1 million range in 2025, compared with four in 2024. Specifically, women-founded enterprises were among the most vulnerable to this gap, as many face more hurdles in navigating collateral requirements and receiving appropriate dual-mandate support.

The report also records a shift in financing composition: equity funding fell sharply, while debt financing rose from US$3 million to US$20 million, driven by the facility for CME Solar. The findings point to the need for financing pathways that can help enterprises progress from early-stage support to larger commercial investment.

“Funders told us they have money for Vietnam’s climate startups, and founders told us they need it, yet in 2025 not one recorded deal closed between US$350,000 and US$1 million, the stage where a company moves from grants to its first major investment,” said Thao Tran, Country Director at New Energy Nexus Vietnam.

Alongside the funding gap, enterprises face a shortage of experienced talent. 73% of surveyed enterprises ranked technical and engineering skills among their top three workforce needs, while 50% identified these skills as the hardest to recruit. The findings point to demand for experienced professionals who can combine technical expertise with interdisciplinary capabilities. The skill needs also go beyond technical skills for climate tech enterprises.

“Capital has arrived faster than the people needed to deploy it. For climate tech enterprises to grow, Vietnam needs more experienced, interdisciplinary professionals, and closer links between training, hiring and finance to develop them,” said Lindsay Umalla, Energy Sector Leader, SNV in Vietnam.

Women-founded enterprises were among the most exposed to the mid-sized funding gap. They received approximately 56% of recorded grant funding in 2025, but only around 1.7% of total recorded climate tech capital. The report examines barriers that may limit their access to larger financing opportunities.

“Women feel this gap most: they founded about a third of Vietnam’s active climate tech enterprises and won more than half of last year’s grant funding, yet received just 1.7% of all climate tech funding,” Thao Tran added. “Loans designed for young companies, financing repaid from revenue and guarantees that stand in for property collateral would carry founders across that gap, and they matter most for women, many of whom don’t hold the land titles banks ask for.”

Other notable findings across the three reports include:

• Sector concentration: Energy Transition led sector funding in 2025, attracting US$26.71 million – a 72% increase from the previous year. It was also the only sector to secure funding across all three financing types: venture equity, debt and grants.
• Policy and innovation: Vietnam recorded 29 climate and innovation-related policies in 2025, while 39% of funded enterprises in the report’s dataset incorporated AI into their work.

For more information, please visit: https://www.newenergynexus.vn/the-2026-ecosystem-reports/

About the organizations

About New Energy Nexus Vietnam

New Energy Nexus Vietnam was launched in early 2019 with the mission of promoting Vietnam’s clean energy transition. We have supported over 560 entrepreneurs and engaged over 1,800 participants through our incubation, acceleration, and funding programs. By enhancing our strong bond with all stakeholders in the network, we aim to further develop the energy ecosystem in support of a smooth transition to sustainable initiatives and build a pipeline of potential entrepreneurs.

About SNV Netherlands Development Organisation 

SNV Netherlands Development Organisation is a global development partner deeply rooted in the African and Asian countries where we operate. With 60 years of experience and a team of approximately 1,600 people, we strengthen capacities and catalyse partnerships that transform agri-food, energy and water systems. Working on the core themes of gender equality and social inclusion, climate adaptation and mitigation, and strong institutions and effective governance, we tailor our approaches to different contexts to achieve large-scale impact and create sustainable and more equitable lives for all. In Vietnam, SNV has been active since 1995, collaborating with communities, government agencies, and businesses across more than 20 provinces, including some of the country’s most remote and underserved areas.

About World University Service of Canada (WUSC)

World University Service of Canada (WUSC) is a Canadian non-profit organization working across 34 countries to create a world where every young person thrives and belongs. In collaboration with over 280 global partners, WUSC directly reached more than 490,000 people in 2025–2026, equipping youth and women with the skills and resources to secure jobs, launch businesses, and lead in their communities.   Active in Vietnam since 1995, WUSC partners with government institutions, the private sector, and civil society to advance an inclusive green economy and strengthen community resilience. The AGILE Project is funded by Global Affairs Canada (GAC) and implemented by World University Service of Canada (WUSC) and Sarona Asset Management. The Ministry of Finance (#MOF) serves as the governing agency, while the Agency for Private Enterprise and Collective Economy Development (#APED) serves as the project owner.

About RMIT University

Founded in 1887, RMIT is a multi-sector university of technology, design and enterprise with more than 90,000 students and over 11,000 staff globally. RMIT provides students with a high-quality education preparing them for life and work in a global economy. As the largest offshore campus in Asia, RMIT Vietnam has three locations: Ho Chi Minh City, Hanoi and Danang.

About Swiss EP Vietnam

Swiss Entrepreneurship Program (Swiss EP Vietnam) is dedicated to empowering startups and fostering a vibrant entrepreneurial ecosystem in Vietnam. We provide tailored support, mentorship, and resources to ecosystem support organizations and startups at various stages of their journey, aiming to drive sustainable growth and innovation in the country.

Ho Chi Minh City, October 14th 2026 – The first Vietnam Climate Week will take place from 19 to 22 October in Hanoi, Da Nang, Ho Chi Minh City and Can Tho. Initiated by development partners in response to the Government of Viet Nam’s climate priorities, the four-city program will bring together policymakers, investors, businesses, innovators and communities to advance climate finance, enterprise solutions and local adaptation ahead of COP31. The program will accelerate climate finance, business-led solutions, and local adaptation capacity on the road to COP31.

A multi-stakeholder platform ahead of COP31

Vietnam is advancing the implementation of its climate priorities across mitigation, adaptation, energy transition, sustainable finance and resilient development. Vietnam Climate Week 2026 provides a timely platform for government, development partners, finance actors, the private sector, research institutions and communities to recognise progress, consider remaining challenges and build the relationships needed to translate climate ambition into coordinated action.

With the endorsement, coordination, and support of units under the Ministry of Agriculture and Environment and local authorities, the Week is co-organized by New Energy Nexus Vietnam (NEXVN), SNV Netherlands Development Organisation (SNV), and World University Service of Canada (WUSC). The program and event series are made possible with funding from development partners, including the Australian Government (through Australian Aid), the German Government (through the International Climate Initiative, IKI), Global Affairs Canada (GAC), the UK Foreign, Commonwealth & Development Office (FCDO), Friedrich-Ebert-Stiftung (FES), the Netherlands Enterprise Agency (RVO.nl), and P4G.

Four cities, four dimensions of Viet Nam’s climate transition

1. Ha Noi – Pre-COP31 Convening: Climate Partnerships and Energy Transition

Opening the Week on 19 October, the Ha Noi Summit will bring together senior government representatives, diplomatic missions, development partners, development finance institutions and private-sector leaders. This event is co-hosted by the Department of International Cooperation and the Department of Climate Change (Ministry of Agriculture and Environment), together with SNV Netherlands Development Organisation.

With government agencies at the table, the Conference provides a high-level space for dialogue that connects Vietnam’s climate priorities and policy directions with international cooperation programs, resources, and experience in the lead-up to COP31. The sessions will identify where regulators, development partners, the financial sector, and businesses need to coordinate more closely to turn Vietnam’s climate goals into real-world delivery.

Discussions will center on Vietnam’s priorities for responding to climate change ahead of COP31, from adaptation and resilience to greenhouse gas reduction, climate finance, energy transition, and low-emission development. The Conference will also explore cooperation and resource mobilization mechanisms that put climate targets and policies into practice, helping Vietnam achieve its net-zero emissions target and strengthen its contribution to the global climate process.

2. Da Nang – Green Finance and Coastal Resilience

On 20 October, the Da Nang Green Finance Summit will bring together policymakers, commercial banks, development finance institutions, investors, enterprises, and climate innovators. The Summit is co-organised by WUSC (through the AGILE Project), NEXVN, and SNV, in collaboration with the Ministry of Finance’s Agency for Private Enterprise and Cooperative Development (APED), and the Da Nang International Financial Centre.

The Summit will bridge national green finance priorities with coastal resilience needs in Central Viet Nam. Discussions and working sessions will examine green and blended finance, investment risk reduction, women-led climate enterprises, nature-based solutions, coastal adaptation and market intelligence on green investment opportunities.

3. Ho Chi Minh City – Climate Enterprise Showcase: Connecting Innovation, Capital and Markets

Taking place on 21 October, the largest event of the Week will showcase cooperative and business models for climate response, host investment matchmaking and thematic panel discussions, and officially launch the Vietnam Climate Tech Ecosystem Report 2026. Designed as a bridge between climate solutions, capital and market opportunities, the event will bring together startups, cooperatives, large corporations, investors, government regulators, universities, and business support organizations.

4. Can Tho – Smart Agriculture and Adaptation in the Mekong Delta

Closing the event series on 22 October, the Can Tho program combines policy dialogue with field visits to low-emission, climate-adaptive agricultural models across the Mekong Delta. Delegates will discuss smart farming, water management, nature-based solutions, sustainable livelihoods, and the translation of scientific research into production practice.

The Can Tho program links adaptation solutions to the realities of organizing production in the Mekong Delta, with a focus on the role of businesses, cooperatives, raw-material zones, and production-to-market linkages for climate-adaptive agricultural products.

The events in Ho Chi Minh City and Can Tho are co-hosted by the Department of Cooperative Economy and Rural Development and the Management Board for Agricultural Projects (Ministry of Agriculture and Environment), in collaboration with NEXVN, SNV, and WUSC as co-organizers.

As the lead state agency for policy on the collective economy, cooperatives, agricultural value chain linkages, and raw-material zone development, and for building production capacity and market access for enterprises and cooperatives, the Department of Cooperative Economy and Rural Development will serve as technical lead. It will encourage enterprises, cooperatives, and rural economic actors to adopt innovation and adapt to climate change, while strengthening linkages, attracting investment, connecting markets, and promoting sustainable production. The Management Board for Agricultural Projects will coordinate ODA projects and investment resources in agriculture and climate change, advance international cooperation on climate-smart agriculture, and promote socio-economic development through business and innovation.

From dialogue to practical partnerships

Across the four cities, Vietnam Climate Week 2026 aims to strengthen coordination around Viet Nam’s climate priorities; connect public, private and blended finance actors with climate solutions and investment pipelines; deepen partnerships among government, financial institutions, businesses, innovators and communities; and provide dedicated space for women-led enterprises and inclusive climate solutions.

Registration is required for the city events and may be subject to confirmation depending on venue capacity. Further programme and registration information is available through the official website and event pages below.

• Vietnam Climate Week 2026 website: www.vietnamclimateweek.org
• Ha Noi – Climate Partnerships: Pre-COP31 Convening: https://luma.com/2akquzg3
• Da Nang – Green Finance Summit: https://luma.com/9l0epox4
• Ho Chi Minh City – Climate Enterprise Showcase: https://luma.com/n4gsniy7
• Can Tho – Climate-Smart Agriculture and Mekong Delta Adaptation: https://luma.com/7vteron7 

Notes to the editors:

Vietnam Climate Week 2026 is a national platform that brings together government, business, finance, development partners, academia, innovators, and communities to accelerate climate action. Held in the lead-up to COP31, the Week connects policy, finance, and innovation to foster collaboration, showcase solutions, and strengthen the partnerships needed to deliver Vietnam’s climate ambitions.

New Energy Nexus Vietnam was launched in early 2019 with the mission of promoting Vietnam’s clean energy transition. We have supported over 500 entrepreneurs and engaged over 1,500 participants through our incubation, acceleration, and funding programs. With our backing, startups have generated US$1.4 million in grants. By enhancing our strong bond with all the stakeholders in the network, we aim to further develop the energy ecosystem in support of a smooth transition to sustainable initiatives and build a pipeline of potential entrepreneurs. Website: www.newenergynexus.vn

SNV is a global development partner deeply rooted in the African and Asian countries where we operate. With 60 years of experience and a team of approximately 1,600 people, we strengthen capacities and catalyse partnerships that transform agri-food, energy and water systems. Working on the core themes of gender equality and social inclusion, climate adaptation and mitigation, and strong institutions and effective governance, we tailor our approaches to different contexts to achieve large-scale impact and create sustainable and more equitable lives for all. Website: www.snv.org 

The Advancing Growth, Innovation & Leadership for Enterprises (AGILE) project (2025 – 2029) is an initiative funded by Global Affairs Canada (GAC), under the governance of the Ministry of Finance (MOF) with the Agency for Private Enterprise and Cooperative Development (APED) serving as the Project Owner. Implemented by a consortium of WUSC and Sarona Asset Management, AGILE aims to enhance the climate resilience of over 90,000 vulnerable individuals by fostering an inclusive business ecosystem for climate enterprises (CEs) – specifically those owned by, led by, or serving women. The project drives systemic change across three core pillars: strengthening enterprise support organizations, mobilizing inclusive private capital, and expanding the deployment of Gender Lens Investing (GLI) mechanisms.

Ho Chi Minh City, December 4, 2025 — Vietnam’s climate tech sector outpaced the world in 2024, capturing 22.3% of total VC activity in the country—nearly twice the global average (12%)—yet the surge was powered overwhelmingly by one mega-deal, underscoring both momentum and fragility in the country’s emerging climate innovation economy.

These findings come from the newly released Vietnam Climate Tech Funding Ecosystem 2025 report, jointly produced by New Energy Nexus Vietnam, RMIT University, and the AGILE Project.

A second major shift highlighted in the report is how new energy policies are quietly reshaping Vietnam’s investment map, triggering a fivefold surge in Energy Transition funding. The passage of the Law on Electricity 2024 and the Rooftop Solar Decree 135/2024 unlocked a wave of investment activity, pushing Energy Transition deals to US$15.5 million in 2024—five times higher than 2023. This marks one of the most significant policy-driven investment jumps in the sector’s history.

Between 2015 and 2024, 78 Vietnamese climate tech enterprises raised nearly US$205 million across 217 deals, with nearly US$100 million raised in 2024 alone. But the landscape is highly concentrated: 71% of climate tech funding in 2024 came from a single US$70 million Series A deal (from TECHCOOP), revealing a heavy reliance on landmark transactions rather than broad-based growth.

Other notable findings include:

• Post-seed “graduation” for climate tech fell to 11.11%, compared to 32.2% for the wider tech sector.
• Impact investors participation in Vietnam’s climate tech deals increased from one in 2020 to 10 in 2024, bringing stricter expectations around measurement, gender equity, and HSES standards.
• Grants remained the dominant source of early-stage capital as domestic VC participation stayed limited.
• Ho Chi Minh City continues to be the country’s primary funding hub, followed by Hanoi and Danang.

“When one mega-deal accounts for more than 70% of all VC funding, it tells us innovation exists, but the scaffolding around it is thin. Organisations like New Energy Nexus play a critical role in strengthening this scaffolding: supporting the building pipelines of investment-ready founders, widening access to grants and patient capital, and ensuring domestic investors gain the confidence and data they need to participate,” said Thao Tran, Country Director at New Energy Nexus Vietnam.

The report also introduces the first four-layer ecosystem map that clearly defines enterprises, financial providers, intermediaries, and government enablers—an important step toward clarifying “who does what” in Vietnam’s climate innovation system.

“As co-authors of this report, our team at RMIT aimed to provide in-depth insights into Vietnam’s climate tech funding ecosystem. Beyond supporting entrepreneurs and investors, we also hope these findings will be integrated into teaching, helping students understand real-world challenges and opportunities in the sector,” said Dr. Duy Dang, Associate Head of Research & Innovation at RMIT Vietnam.

Download the report here.

About New Energy Nexus Vietnam

New Energy Nexus Vietnam was launched in early 2019 with the mission of promoting Vietnam’s clean energy transition. We have supported over 550 entrepreneurs and engaged over 1,800 participants through our incubation, acceleration, and funding programs. With our backing, startups have generated US$1.6 million in grants.

By enhancing our strong bond with all the stakeholders in the network, we aim to further develop the energy ecosystem in support of a smooth transition to sustainable initiatives and build a pipeline of potential entrepreneurs.

About RMIT University

Founded in 1887, RMIT is a multi-sector university of technology, design and enterprise with more than 90,000 students and over 11,000 staff globally. RMIT provides students with a high-quality education, preparing them for life and work in a global economy. As the largest offshore campus in Asia, RMIT Vietnam has three locations: Ho Chi Minh City, Hanoi, and Danang. With over 12,000 students and 1,300 staff, the University has graduated nearly 25,500 alumni since 2000. The University is celebrating its 25th anniversary this year.

About AGILE Project

The Advancing Growth, Innovation & Leadership for Enterprises in Vietnam (AGILE) project is an initiative funded by Global Affairs Canada (GAC) and implemented by the World University Service of Canada (WUSC) and Sarona Asset Management. The project aims to contribute to the increased resilience among Vietnam’s climate-vulnerable populations by fostering a more inclusive and effective business ecosystem that supports the growth of Climate Enterprises (CEs), particularly those that are women-led or serve women. The project promotes systemic change by strengthening support from ecosystem actors, increasing investment, and deploying funds using a Gender Lens Investing (GLI) approach for CEs.

Six women-led agricultural enterprises across the Mekong Delta in Vietnam have successfully secured up to AUD60,000 (VND1 billion) each to take their businesses to the next level, thanks to Deltaccelerate.

Deltaccelerate is a women’s agribusiness climate adaptation accelerator funded by the Australian Government that provides customised training and tailored support for women-focused small and medium enterprises (SMEs) in Mekong Delta to build their capacity in sustainable business practices and strengthen their resilience to climate adaptation.

The six successful businesses were selected from a cohort of 14 Deltaccelerate participants following a competitive Pitch Day event on 17 October 2024 in Can Tho city. They include:

Mekong Coconut Oil Company Limited (Cocovie)

Producing and trading high-quality cosmetic and food products from coconut oil in Ben Tre province, focusing on preserving and utilizing coconut trees over 10 years old, which can absorb 75 tons of CO2 per hectare per year.

Cau Ke Macapuno Coconut Processing Co., Ltd (VICOSAP)

Specialising in confectionery products, baking ingredients and drinks made from macapuno coconuts, a specialty of Tra Vinh province cultivated by the Khmer community and known for their high saline tolerance, making them an ideal climate-adaptive crop.

Palmania JSC

Creating healthy, organic products from palmyra trees using sustainable farming methods rooted in the indigenous Khmer community in An Giang province.

AirXCarbon/Veritas Vietnam JSC

Transforming biomaterials, including coconut husks from the Mekong Delta, into zero-carbon consumer products.

Dam Doi Sesarmid Cooperative

Producing a range of sustainable products from locally-caught sesarmids and shrimps in Ca Mau province.

Ecoka JSC

Producing and trading handicrafts made from adaptive materials, including water hyacinth and bulrush, from Hau Giang province on global e-commerce platforms.

Each enterprise will now receive this financial support to scale their business through trade promotion, marketing, product development and training initiatives. Deltaccelerate’s total contribution of AUD250,000 (VND4 billion) will also leverage AUD320,000 (VND5 billion) in co-funding from the enterprises to further amplify its impact.

The Deltaccelerate program is part of the Business Partnership Platform (BPP), an Australian Government initative implemented by Palladium. Deltaccelerate is managed by New Energy Nexus Vietnam (NEXVN) and continues to foster innovative solutions for climate adaptation and sustainable development in the Mekong Delta.

About the Business Partnerships Program (BPP)

The BPP supports business partnerships between DFAT and inclusive, commercially sustainable businesses to deliver strategic development outcomes, with a focus on gender equality, disability, social inclusion and climate impact. Since 2016, it has supported 75 partnerships in 21 countries, partnering with 147 organisations across the private sector, social business, NGOs and academic institutions.

The Australian Government has invested more than AUD31 million in BPP partnerships, with partners contributing more than AUD51 million.

About the Deltaccelerate

Deltaccelerate is made possible by a unique partnership between the Australian Government and New Energy Nexus through the Business Partnerships Platform (BPP) Climate Adaptation Partnerships in the Mekong Delta, announced in November 2023.

Deltaccelerate is a business accelerator funded by the Australian Government providing direct support, tailored training, and networking opportunities for enterprises that work in the Mekong Delta’s agricultural sector, which are led by or significantly benefit women and contribute to the sector’s resilience to climate adaptation.

The Partnerships are part of the Australian Government’s AUD94.5 million investments for climate change adaptation in the Mekong Delta.

Drone photo of Ho Chi Minh City, Vietnam.

Ho Chi Minh City, 30 September 2024 – Vietnam’s rapidly growing climate tech startup ecosystem secured US$92.6 million in cumulative financing for 49 startups between 2015-2023, according to the first report to map the growth of the country’s funding ecosystem. 

The Vietnam Climate Tech Ecosystem report released today by New Energy Nexus and Clickable Impact with support from the Swiss Entrepreneurship Program (Swiss EP, shows that there is huge room for growth as climate tech funding contributed only four percent of Vietnam’s total venture capital investment in 2023—well below the global average of 10 percent.

“Vietnam witnessed a remarkable acceleration in investment from 2021-2023, with funding for climate tech startups averaging 365 percent growth year-over-year,” said Thao Tran, country head of New Energy Nexus Vietnam, one of the few organizations building a clean energy innovation ecosystem to support climate startups. “This shows that there’s a strong ecosystem to support clean energy innovators to develop their ideas, but that there’s a funding crunch when it comes to commercialisation and deploying this tech where it’s needed most,”

“We see great room for entrepreneurial support organizations like New Energy Nexus to help Vietnam’s climate tech entrepreneurs build more commercially sound businesses, improve their investment readiness, and connect with both domestic and international capital,” said Jason Lusk, managing partner of Clickable Impact.

Key findings from the report:

• Among the 49 funded startups, 76 percent have been founded since 2019.
• Most deals have been early-stage, with seed and Series A funding comprising 47 percent of the deal count. Only two startups have graduated to Series B, a funding round that signals a startup’s readiness to scale.
• Most climate tech startups operated out of Vietnam’s largest cities: Ho Chi Minh City (65.3%) and Hanoi (26.5%).
• Farming and food production startups raised 48.4 percent of all climate tech funding in Vietnam.

Although funding for the circular economy and carbon sectors remains limited, there is an emerging trend marked by an increasing number of startups in these areas. This aligns with the growth in grant funding, which could lead to a higher number of investable startups in the next business cycle.

Furthermore, while many startups and investors remain optimistic about fundraising, a gap persists between investable startups and investors with a deep understanding of the market and the specific challenges faced by early-stage ventures.

Vietnam is highly vulnerable to climate change; according to the World Bank, the country faces potential economic losses of up to 12-14.5 percent of its annual GDP by 2050.¹ Climate tech entrepreneurship is critical in mitigating Vietnam’s greenhouse gas emissions and empowering the country’s communities and industries to build climate resilience.

Notes:

[1] World Bank (2022). Vietnam Country Climate and Development Report.