Sarona is delighted to showcase Sweef Capital’s recent investment in TEKY Alpha JSC (TEKY), a prominent Science, Technology, Engineering, Arts, and Mathematics (STEAM) academy in Vietnam. This investment is intended to fuel the expansion of TEKY’s educational services within Vietnam’s public school system, as well as their after-school programs catering to children aged 5 to 18 years. Sarona has supported this investment through the Emerging Markets Impact Investment Fund (EMIIF).
In today’s fast-paced world, the fields of STEAM education have emerged as a driving force behind innovation and progress.
Investing in STEAM education goes far beyond the benefits it brings to individuals. It has a profound impact on societies and economies. By driving innovation and fueling economic growth, STEAM education plays a vital role in shaping a brighter future and ensures Vietnam remains competitive on the global stage.
In this blog post, we explore the investment’s opportunity to expand access to STEAM education for youth, particularly those who would typically face limited opportunities within their regular schooling.
TEKY is the first Vietnam-based educational technology company to implement a STEAM curriculum.
The company is currently operating a network of 21 STEAM centers across five major cities in Vietnam. With a focus on a diverse range of subjects such as coding, 3D technology, robotics engineering, application development, programming, and multimedia, these dedicated centers aim to enhance the skills of 10,000 students aged 5-18 years, with girls comprising 15%.
Along with these comprehensive STEAM skillsets, TEKY is embedding key skills including the 4Cs – Critical thinking, Communication, Creativity, and Collaborative teamwork – critical for strong educational outcomes.
TEKY was founded in 2016 and is led by Ms. Dao Lan Huong who is currently also the company’s Executive Chairwoman. Her vision is to uplift the technological knowledge of Vietnamese children and change gender stereotypes in STEAM.
“I’m excited about our expansion plan to open more STEAM centers across the country in the next two years and prospects of a partnership with public schools to integrate the STEAM curriculum and increase accessibility,”Ms Dao Lan Huong
With a team that is 77% women, TEKY is a leader in promoting gender equality in STEAM education and careers.
TEKY’s business model contributes solutions through:
- Children in public schools receiving access to foundational skills in and awareness of STEAM education.
- Children across the school systems having access to additional foundational skills in and awareness of STEAM education in TEKY centers with increasing opportunities to increase reach of the student base and depth of skills through offline courses; and
- Benefits for a broader group of stakeholders through creation of high-quality jobs in the education technology sector.
TEKY contributes directly to four Sustainable Development Goals (SDGs), SDG #4: Quality Education, SDG #5: Gender Equality, SDG #8: Decent Work, and SDG #10 – Reduced Inequalities. TEKY’s business is not carbon intensive and impact risks can be mitigated through operational risk management and strategies.
TEKY Sparks Interest and Encourages Girls to Pursue STEAM Education and Careers
TEKY has a clear focus on building literacy and confidence in STEAM for all its students and seeing more girls carry STEAM skills into their further education in fields such as engineering and technology where women are significantly underrepresented. Although girls perform well in STEAM subjects, it is estimated that currently less than a third of female students pursue higher education courses and a subsequent career in these fields. To close this gender gap, interventions to increase young women’s access to and participation in STEAM education is crucial. TEKY provides quality education and training programs, such as STEAM camps, workshops, and mentorship, which equip youth with the knowledge, skills, and confidence they need for life and the jobs of the future. The company also provides financial assistance in the form of scholarships and grants to remove financial barriers that may prevent girls from pursuing STEAM education.
At Sarona, we believe in the power of impact and gender lens investing to create positive change. Together with partners like Sweef Capital and companies like TEKY, we are committed to fostering inclusive and resilient economic development while advancing gender equality in the regions we serve.
The Emerging Markets Impact Investment Fund (EMIIF) is a development financing mechanism of the Australian Government. EMIIF adopts a blended finance approach to catalyse private finance into financial intermediaries that support high-growth and innovative small and medium size (SME) businesses in Asia and the Pacific. EMIIF provides partners with fit-for-purpose technical assistance in areas of ESG, impact measurement and management, and gender lens integration. EMIIF is a market builder, expanding SME financing in the region and influencing capital providers to support new and transformative business models.
EMIIF is managed by Sarona in a consortium with MEDA and SAGANA as technical assistance provider and the Whitelum Group, which assists in monitoring and evaluation.
About Sweef Capital
Sweef Capital is a Singapore-based impact investment firm investing in the potential of women and the future of Southeast Asia. As a private equity firm, Sweef Capital focuses on investing equity and quasi-equity capital in growth-stage companies, primarily in Vietnam, Indonesia, and the Philippines, where its experienced investment professionals are deeply rooted. The team strives to maintain an ethical and responsible business practice in the selection and management of their investments. The firm’s investment practice is very much relationship-centred and value creation-oriented which instils confidence in investee companies and leverages established channels to drive strong deal flow. Sweef Capital targets investments in growth markets including education, healthcare, food systems and climate resilience, sectors that are experiencing strong and increasing demand. For more about Sweef Capital, see https://sweefcapital.com/