A festival for Vietnamese innovative startups (TECHFEST) in South Korea is expected to witness agreements between the National Startup Support Center of Vietnam's Ministry of Science and Technology, South Korean investment funds and support organizations to promote the development of Vietnamese startups in South Korea.

Deputy Minister of Science and Technology Tran Van Hung speaks at the event. Photos: hanoimoi.com.vn

Opened on April 13, TECHFEST was held for the second time in Seoul, South Korea.

The return of the festival to South Korea was made possible by the close relationship between Vietnam and South Korea. The reality is that South Korea is one of the markets with the strongest developing innovation startup ecosystem in the region, according to Deputy Minister of Vietnam's Science and Technology Tran Van Hung.

"The event also contributes to developing a comprehensive partnership between the two nations," he stressed.

At the event, many Vietnamese startups that won the national-level Innovation Startup Talent Competition had the opportunity to meet with 30 venture capital funds in pitching sessions. The participating startups include Gostream, FINA, and Sobanhang.

The festival also brought together management agencies and organizations involved in innovative startup programs to share knowledge and practices to improve the two countries' supportive activities.

Vietnamese and South Korean companies attend the event.

In recent years, there have been many cooperative activities between Vietnam and South Korea to support innovative startups, including cooperation programs signed among the National Agency for Technology Entrepreneurship and Commercialization Development (Natec), the National Innovation Startup Support Center (NSSC), and South Korean partners. It coupled with establishing a representative office at the Seoul Startup Hub of South Korea.

On this occasion, a delegation from the Vietnamese Ministry of Science and Technology is visiting South Korea as part of the Knowledge Sharing Program (KSP) on creating an innovative startup ecosystem.