Hanoi
Hanoi is determined to become a startup city
This is a big challenge, but also an opportunity for anybody who can quickly grasp the chance.
At the meeting with Hanoi startup and creative startup community on August 25, the Chairman of Hanoi People’s Committee Nguyen Duc Chung stressed: In order to encourage startup and creative innovation, Hanoi will create the most favorable conditions on the way to become a startup city. Also at the meeting, Hanoi has briefed on the portal of Hanoi startup ecosystem, which will be in operation soon.
From idea to success
Startup is a trend among young people. However, not all start-ups can be successful in dynamic market. It is not a coincidence that Israel investor – Mr. Ili Adry, who has supported thousands of start-ups, hinted: ”start-ups can only be considered as success if they can bring valued products to customers, meeting the social demands instead of impractical ideas. The most important lesson is that enterprises are going to face a lot of challenges during the process of idea to reality. That is why 90% startup projects failed right in the beginning. The period of 18-24 months in the beginning is seen as “death valley” to startup enterprises with many risks coming from the lack of capital, consulting team and technology. However, if start-ups get support during this period, they will have more chance to success”.
According to the report of Israel experts on the evaluation of Hanoi startup ecosystem, the startup enterprises are divided into 3 categories: Firstly, normal start-ups; secondly, startup based on digital platform; and thirdly is creative startup enterprises.
However, the majority of start-ups are at the second category, which is a trend when we are moving toward the online business, while creative startup enterprises are very few. The number of Incubators, centers supporting startup in Hanoi are many, but still lacking the connection between each other, as well as policies to establish a network of centers supporting startup, which can share experiences, mentors, training programs.
How to avoid “Death valley”
As a recent startup enterprise, Director of Incree VN Ngo Thi Hoai said, the enterprise has received detailed and clear instruction from tax agency right in the beginning. Therefore, enterprises are confident of being able to fulfill their obligations in a rightful manner. However, in order to adopt with startup environment, enterprises are still depending on the support of the city to realize their potential. CAS Director of board Nguyen Ba Thang said he looks forward to the supporting of the city in creating favorable business and legal environment for enterprises to develop.
Representative of FPTS, Director Tran Huu Duc said, the quality of start-ups in Vietnam is not consistent, which requires 5-7 years to be stable in operation. “we should consider to have priority mechanism for startup products, or let them participate in bidding for project in local. From the perspective of startup fund, the telecommunication sector is getting attention from foreign investors. As such, the central and local government should develop measures to increase attraction while other countries such as Singapore and Indonesia are offering numerous advantages to investors.” Moreover, “if Hanoi is to become a startup center of the region, it is necessary to attract human resources, enterprises, researchers from abroad to Vietnam. At major cities, there should be laboratories for start-ups to develop creative products” – Mr. Duc shared.
The Chairman of Hanoi People’s Committee Nguyen Duc Chung said, the city will create utmost favorable conditions for creative start-ups. It is one of the priority of the city to have a strong enterprises community alongside the startup ecosystem. The advantage of Hanoi is information & technology, so the city is developing IT centers in Cau Giay, Hanel Hi-Tech center, and in the coming time is Vo Nguyen Gia IT center.
According to the portal of Hanoi startup ecosystem (startupcity.vn), which is going to be in operation soon. The Chairman stressed this will be an useful destination for enterprises looking for information, connection, sharing experiences. “Hanoi focuses on developing portal for start-ups, creating a place for enterprises to participate and communicate. Questions from enterprises will be continuously updated and answered” – Mr. Chung said.
Connecting start-ups to realize the potential of smart city
With regard to the land fund to build startup supporting center, the Chairman said Hanoi will hand-over the land to enterprises responsible for building this center. In particular, in Hoa Lac Hi-Tech Park, there remains lands available for these kinds of center. The Chairman said, the application of artificial intelligence and internet of things are global trend, which starts to develop in Vietnam. IT application will increase advantage for enterprises and helps them expanding their operation. “We need technologies such as power saving, green energy”. As Hanoi is working toward smart city, IT application will be used to solve social problems, such as: traffic congestion, flood, wastewater treatment. “In order to build smart city, there are a lot of works to be done, so we call for creative start-ups to contribute to the development of smart city” – Mr. Chung said.
“Hanoi will require enterprises for the city development. I can say that we need enterprises. Hanoi will strongly support creative start-ups to form a strong enterprise community, so that by 2020, Hanoi will have 200,000 enterprises” – The Chairman said.
From idea to success
The Chairman of Hanoi People's Committee Nguyen Duc Chung gave a speech at the meeting.
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According to the report of Israel experts on the evaluation of Hanoi startup ecosystem, the startup enterprises are divided into 3 categories: Firstly, normal start-ups; secondly, startup based on digital platform; and thirdly is creative startup enterprises.
However, the majority of start-ups are at the second category, which is a trend when we are moving toward the online business, while creative startup enterprises are very few. The number of Incubators, centers supporting startup in Hanoi are many, but still lacking the connection between each other, as well as policies to establish a network of centers supporting startup, which can share experiences, mentors, training programs.
Start-ups introduced products at the Start-up Day.
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As a recent startup enterprise, Director of Incree VN Ngo Thi Hoai said, the enterprise has received detailed and clear instruction from tax agency right in the beginning. Therefore, enterprises are confident of being able to fulfill their obligations in a rightful manner. However, in order to adopt with startup environment, enterprises are still depending on the support of the city to realize their potential. CAS Director of board Nguyen Ba Thang said he looks forward to the supporting of the city in creating favorable business and legal environment for enterprises to develop.
Representative of FPTS, Director Tran Huu Duc said, the quality of start-ups in Vietnam is not consistent, which requires 5-7 years to be stable in operation. “we should consider to have priority mechanism for startup products, or let them participate in bidding for project in local. From the perspective of startup fund, the telecommunication sector is getting attention from foreign investors. As such, the central and local government should develop measures to increase attraction while other countries such as Singapore and Indonesia are offering numerous advantages to investors.” Moreover, “if Hanoi is to become a startup center of the region, it is necessary to attract human resources, enterprises, researchers from abroad to Vietnam. At major cities, there should be laboratories for start-ups to develop creative products” – Mr. Duc shared.
The Chairman of Hanoi People’s Committee Nguyen Duc Chung said, the city will create utmost favorable conditions for creative start-ups. It is one of the priority of the city to have a strong enterprises community alongside the startup ecosystem. The advantage of Hanoi is information & technology, so the city is developing IT centers in Cau Giay, Hanel Hi-Tech center, and in the coming time is Vo Nguyen Gia IT center.
According to the portal of Hanoi startup ecosystem (startupcity.vn), which is going to be in operation soon. The Chairman stressed this will be an useful destination for enterprises looking for information, connection, sharing experiences. “Hanoi focuses on developing portal for start-ups, creating a place for enterprises to participate and communicate. Questions from enterprises will be continuously updated and answered” – Mr. Chung said.
Connecting start-ups to realize the potential of smart city
With regard to the land fund to build startup supporting center, the Chairman said Hanoi will hand-over the land to enterprises responsible for building this center. In particular, in Hoa Lac Hi-Tech Park, there remains lands available for these kinds of center. The Chairman said, the application of artificial intelligence and internet of things are global trend, which starts to develop in Vietnam. IT application will increase advantage for enterprises and helps them expanding their operation. “We need technologies such as power saving, green energy”. As Hanoi is working toward smart city, IT application will be used to solve social problems, such as: traffic congestion, flood, wastewater treatment. “In order to build smart city, there are a lot of works to be done, so we call for creative start-ups to contribute to the development of smart city” – Mr. Chung said.
“Hanoi will require enterprises for the city development. I can say that we need enterprises. Hanoi will strongly support creative start-ups to form a strong enterprise community, so that by 2020, Hanoi will have 200,000 enterprises” – The Chairman said.
