Vietnam set to emerge as major startup ecosystem in SEA by 2022
Mar 22, 2022 / 14:23
Hanoi promotes developing innovation ecosystem
A workshop on supporting local creative startups took place to seek ideas on building a comprehensive startup ecosystem.
Hanoi needs a concrete strategy to promote innovation in the capital city, said an official from the Ministry of Investment and Planning (MIP) at the workshop “Specific mechanisms to support local startups for innovation: World experiences and lessons for Hanoi” held this week.
Nguyen Tien Thinh, Deputy Director of the MIP's National Innovation Center, said an agency specializing in studying and building up the strategy would be set up to turn the capital city's ambitious innovation plans into reality.
Thinh added that it is necessary to enhance the connection of existing infrastructures for innovation dispersed in ministries, branches, corporations, and universities to support startups and innovation in Hanoi as the city has chosen a shared model to foster its startup ecosystem.
At the event, experts and managers put forth the needs and difficulties facing local businesses so as to devise the most optimal strategies, contributing to building a comprehensive ecosystem of startups.
Ngo Minh Toan, Director of the Hanoi Small and Medium-sized Enterprises (SME) Support Center, said innovative startups based on the exploitation of intellectual property, technology, and new business models can create breakthroughs that help solve existing problems, forming large enterprises and attracting high-quality human resources.
Since 2016, startups have been institutionalized. Specially, the Law on Support for Small and Medium-sized Enterprises came into force on January 1, 2018 with many specific regulations on investment and support for innovative small and medium-sized enterprises, such as helping them in the application and transfer of technology, giving them support to access advanced equipment and join incubators, co-working areas, training, in-depth training on product development as well as attracting investment.
In 2017, the Hanoi People’s Committee collaborated with Israeli experts to create the Hanoi Innovative Startup Portal and put it into operation in October of that year. There are currently about 800 startups and a number of organizations, individuals and investors participating in the portal.
On September 9, 2019, the Hanoi People's Committee issued a decision approving the project “Supporting innovative startups in Hanoi for the 2019-2025 period” affirming the city’s disposition to create a favorable environment to support creative businesses.
In particular, the Hanoi SME Support Center is the focal point, assigned by the city to research, develop and implement policies related to supporting startups and innovative businesses.
- Vietnam wins big at World Robot Olympiad
- Vietnamese Government approves national datacenter
- Hanoi committed to start-ups and innovative enterprises development
- Vietnam customs needs to accelerate digital transformation: Deputy PM
- Hanoi gets ready for digital economy growth
- Vietnam Digital Awards 2023 recognizes outstanding digital transformation solutions
- TikTok's violations in Vietnam exposed
- Vietnamese innovation startup ecosystem is dynamic and open
- ASEAN, Vietnam seek to tackle fake news
- Hanoi removes barriers to applying high tech to farming
Australian and Irish teachers walk for disadvantaged Vietnamese children
Vietnam news in brief - November 30
Quan Chuong Gate brings Hanoi to life with 25 visual art performances
AI to help Hanoi accelerate smart city development
Data mining drives smart city building: vice chairman
Planning essential to promote smart city development
Amended Capital Law to develop Hanoi’s cultural industries
Vietnam advised to use cultural heritage as material for creative industries
Hanoi, British cities exchange experience in branding Creative City