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Vietnam Open Innovation Landscape Report released this December
Phi Nhat 21:56, 2021/08/31
The first report will be published in December in Vietnamese and English.

Vietnam Open Innovation Landscape Report 2021, the first of its kind in the country, is expected to be a source of information to promote and expand potential cooperation and investment opportunities between startups, enterprises, and investors domestically and overseas.

 Delegates at the webinar on August 31. Screenshots: Phi Nhat

It is an initiative jointly conducted between BambuUP, a one-stop innovation platform, and the National Startup Support Center (NSSC) under the Department of Science and Technology Market and Enterprise Development (Ministry of Science and Technology).

Information from the report will help advise the Vietnamese Government and policymakers on the development of the startup ecosystem and open innovation. It is hoped to create a stronger innovation push among economic sectors, contributing to active recovery and growth in the new normal.

According to the General Statistics Office, Vietnam was home to about 3,000 startups in 2020 and is considered one of the most dynamic creative startup ecosystems in Southeast Asia. 

Along with the development of startups, an ecosystem of support and interaction between economic sectors to jointly innovate is gradually forming and shaping Vietnam’s open innovation ecosystem. 

Addressing the online kick-off ceremony on August 31, Pham Dung Nam, Director of the National Startup Support Center (NSSC), said the need for comprehensive and up-to-date information about the ecosystem is imperative to help startups, businesses, domestic and foreign investors timely grasp new trends of innovation, new opportunities for cooperation and investment.

“In the course of this pandemic, there is an urgent need for innovation, cooperation, as well as scientific and technological application to develop new methods and tools, but above all, a need for a new mindset and a new philosophy for development,” Nam said.

I hope the report also creates knowledge bases, promoting the joint growth of the innovation community.”

Pham Thu Hang, Chairwoman of BambuUp said in the process of consulting and connecting innovation with many businesses, investors, and startups, BambuUP realized that there are many promising creative solutions in Vietnam. 

“As long as startups are given the opportunity, try to solve the big problems of the businesses, and get financial support at the right time, they will bring benefits and be a driving force for the economy’s development,” she underlined.

 An estimated startup map built by BambuUp.

As a partner of this project, Jack Nguyen, Director of Insider in Asia-Pacific, said that this tech firm wants to work with Vietnamese startups to build an innovation roadmap and provide timely updates of trends for them to change. The firm will also introduce the report to investors in nearly 30 foreign markets who wish to learn and invest in the startup market in Vietnam.

Being of the same mind, John Kojiro Moriwaka, General Director of Silicon Valley Ventures, said he will be collaborating with BambuUP in spreading this open innovation report. 

He added: “There is not much information in the Japanese market about Vietnam's startup community. The report will help Japanese and American investors and corporations better understand Vietnamese startups.”

At the event, Nguyen Huong Quynh, CEO of BambuUP, called for the participation of partners and industry insiders to contribute ideas to build a complete report, contributing to shaping the development map of Vietnam's startup ecosystem and widely promoting the Vietnamese startup community to foreign partners.

The report will provide a startup map of prominent economic sectors, including retail, financial technology (Fintech), education technology (Edutech), healthcare technology (Healthtech), marketing and sales technology (Martech and Salestech), sustainable development (Sustainability), supply chain (Logistics), agricultural technology (Agtech and Foodtech), travel and tourism.

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