Speaking at the inaugurating ceremony of the CMC Innovation Centre in Hanoi on February 26, Deputy Prime Minister (PM) Vu Duc Dam suggested that businesses should be innovative and creative in using Information Technology (IT) advances to grow.
The Deputy PM called for such centres to be established in other localities nationwide, especially in big universities.
Vietnam has very few innovation centres, while other countries have hundreds, Dam said, adding that if the country increases the number of innovation centres, it will have more start-ups.
Deputy PM Dam expressed his hopes that the number of both local and foreign venture funds in the country will increase strongly in the time ahead.
He acknowledged that while many Vietnamese youth have tasted success with unique start-up ideas, the Government, enterprises and investment funds should contribute more to building a start-up ecosystem.
The support can include businesses registration, intellectual property rights and preferential taxes, according to the Deputy PM.
He also stressed the importance of an ecosystem, and adding that each group and business has its own strengths, but they will have new opportunities if they connect and share with each other.
He highlighted that the success of Nguyen Ha Dong with his famous “Flappy Bird” game and other similar stories should be shared to encourage and support others.
Deputy PM Dam emphasised the need for policies to encourage investment in IT infrastructure and facilitate ICT application in some key economic sectors.
Improving the country’s business environment and competitiveness are the key factors that will affect the development of both big firms and start-ups, he said.
According to Nguyen Trung Chinh, CMC Group chairman and general director, the new centre will play an important role in facilitating the establishment of innovative firms.
Covering an area of 600sq.m, the centre is expected to be a location for sharing and exchanging technologies, new trends, a technology incubator and a supporter of innovative projects of the CMC Group and the start-up community.
In addition, the CMC Innovation Fund as well as other venture funds will invest in good ideas, support in technology transfer and provide commercial funding for feasible projects.
The 50 billion VND (2.2 million USD) centre will prioritise projects relating to the Internet of Things (IoT), Cloud, security, Big Data, artificial intelligence (AI) and Robotics, he added.
The inauguration was also marked by the signing of agreement between CMC Group and the Department of Technology Application under the Ministry of Science and Technology to build a technology map and co-operate in other relevant activities.
Deputy Prime Minister Vu Duc Dam makes a speech at the ceremony.
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Vietnam has very few innovation centres, while other countries have hundreds, Dam said, adding that if the country increases the number of innovation centres, it will have more start-ups.
Deputy PM Dam expressed his hopes that the number of both local and foreign venture funds in the country will increase strongly in the time ahead.
He acknowledged that while many Vietnamese youth have tasted success with unique start-up ideas, the Government, enterprises and investment funds should contribute more to building a start-up ecosystem.
The support can include businesses registration, intellectual property rights and preferential taxes, according to the Deputy PM.
He also stressed the importance of an ecosystem, and adding that each group and business has its own strengths, but they will have new opportunities if they connect and share with each other.
He highlighted that the success of Nguyen Ha Dong with his famous “Flappy Bird” game and other similar stories should be shared to encourage and support others.
Deputy PM Dam emphasised the need for policies to encourage investment in IT infrastructure and facilitate ICT application in some key economic sectors.
Improving the country’s business environment and competitiveness are the key factors that will affect the development of both big firms and start-ups, he said.
According to Nguyen Trung Chinh, CMC Group chairman and general director, the new centre will play an important role in facilitating the establishment of innovative firms.
Deputy PM Vu Duc Dam and delegates attend the inaugurating ceremony of the new centre.
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In addition, the CMC Innovation Fund as well as other venture funds will invest in good ideas, support in technology transfer and provide commercial funding for feasible projects.
The 50 billion VND (2.2 million USD) centre will prioritise projects relating to the Internet of Things (IoT), Cloud, security, Big Data, artificial intelligence (AI) and Robotics, he added.
The inauguration was also marked by the signing of agreement between CMC Group and the Department of Technology Application under the Ministry of Science and Technology to build a technology map and co-operate in other relevant activities.
