Hanoi: 6 solutions to support startup community
In order to support the startup community in Hanoi, there are many supporting solutions with the rapid development of Hanoi startup ecosystem, in turn building trust among the business community.
Reporting at the meeting between Hanoi People’s Committee and the startup community on August 25, Director of Hanoi Department of Information and Communications Phan Lan Tu said, in 2016 and 8 months of 2017, Hanoi has many breakthroughs in administrative reform, creating business environment, improving competitiveness of the economy, and encouraging startup’s effort.
Director of Hanoi Department of Information and Communications Phan Lan Tu reported on the development of Hanoi startup ecosystem.
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In 2017, many organizations supporting creative startup are born, such as Hanoi Innovative Business Incubator of Information Technology (HBI-IT) came into operation in January 09, on February 26, CMC Technology Corporation officially announced Creative CMC Center, and UP Co-working space introduced the third center in 519 Kim Ma street on June 15.
At present, there are 15 startup incubators in Hanoi, which are very supportive to the startup of enterprises. Vietnam Innovative Startup Accelerator (VIISA) has organized the Investment day on April 11, along with the annoucement of 7 startups graduate from its inaugural Accelerator program. On August 9, Hanoi Student Association, Vietnamese Student Association in the UK and the Global Shapers Community - Hanoi Hub have jointly organized the forum discussing creativity in the era of industrial revolution 4.0 with the participation of many start-ups.
On August 18, Hanoi Department of Information and Communications also organized the conference calling for investment for projects developed by start-ups from HBI-IT and introduced 12 projects accepted for investment.
With regard to investment funds: There are mainly foreign investment funds such as IDG Ventures, CyberAgent Ventures, 500Startups, DFJ Capital, Standard Chartered, Golden Gate Ventures, Mekong Capital, and private investors. However, through surveys at some investment promotion conferences, Hanoi in particular and Vietnam in general has formed investor community looking for investment in high potential startup projects. These are positive signals for Hanoi startup ecosystem. However, the startup ecosystem of Hanoi and in Vietnam in general are still at the beginning phase. In term of quantity, Vietnam has around 2,000 start-ups, which is higher than that of China and India, however, the quality of startup project in general is just average.
According to the report of Israel expert 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.
So in the coming time, Mrs. Phan Lan Tu proposed some specific solutions as follow:
Firstly, increase promotion and raising awareness among startup community about creative startup.
Secondly, establishing the Hanoi startup ecosystem portal and database for creative startup enterprises.
Thirdly, establishing startup supporting complex in Hanoi.
Fourthly, establishing network connecting incubators and center in the form of public-private partnership with the participation of associations, investors from local and abroad.
Fifthly, increase training programs for creative startup.
Sixthly, calling for investment for startup, especially creative startup.
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