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Hanoi to launch largest-ever conference on start-up
By Anh Kiet 15:20, 2016/09/15
The Hanoi People’s Committee will cooperate with the Israeli Embassy and FPT Group to organise a conference on start-up on September 21, 2016.


 
More than 200 delegates from the Government, ministries, centrally-run agencies, Hanoi authorities, foreign embassies, international organisations, universities, research institutes, business associations, investment funds and start-up groups are expected to join the event, making it the largest of its kind in the capital city.

The information was announced by Director of the municipal Department of Information and Communications Phan Lan Tu at a recent press conference in Hanoi. Tu unveiled that Israeli experts will share experience in creating an innovative startup ecosystem at both macro and micro levels and propose action plans to build the startup ecosystem in Vietnam.

The workshop will also seek ways to step up economic, scientific, trade and investment cooperation between the two countries, he noted. A cooperation programme between the Hanoi Business Incubator, the Vietnam Innovative Start-up Accelerator programme and Israel partners is due to be signed on this occasion.

The Department of Information and Communications of Hanoi has worked with several agencies to develop an information technology business incubator scheme to promote start-ups. The aim is to develop Hanoi as a start-up city. The Government had talked a lot about Vietnam becoming a start-up country and Hanoi was eager to become a start-up city.

In May this year, the Prime Minister approved a draft project called “National Programme to Support Innovative Startup Ecosystem in Vietnam by the year 2025” to create a favourable environment to promote and support the development of start-ups with high-growth potential. 

The project has set the following targets for 2020: complete the main legal framework for a start-up ecosystem; run an online portal for the National Innovative Start-up Ecosystem; support about 800 start-up projects and 200 start-up enterprises, of which 50 will raise follow-on investment from private venture investors or will undergo mergers and acquisitions worth about 1 trillion VND (about 50 million USD). 

By 2025, the project is expected to have supported 2,000 start-up projects and 600 start-up enterprises, of which 100 will have raised follow-on investment from private venture investors, or will have undergone mergers and acquisitions worth about 2 trillion VND.

State funding will only be provided to support start-ups in their earlier stages. Subsequently, support from private investors and organisations will play a vital role in ensuring the efficiency and sustainability of the start-up ecosystem in Vietnam. The Ministry of Information and Communications would have a start-up scheme in ICT. Currently, Department of Information and Communications of Hanoi is building a start-up project in Hanoi.

The department has also worked with relevant bodies in order to compile a report for the Capital city administration about IT incubator schemes to enhance start-up activities for small- and medium-sized enterprises. In the first six months, the department also finished preparing an information technology development programme for the 2016-2020 period and a plan to build a software and digital content park.
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