Vietnam has in recent years focused on the development of high technology business incubators (HTBIs) and recorded initial achievements, the Vietnam Economic News reported on August 18.

The HTBI is an organisation that links centres, research institutes, universities with groups and individuals in an effort to create a business start-up environment in a certain time to help new entrepreneurs overcome the initial difficulties and develop.

In other words, the HTBI provides services and facilities necessary to support start-up business from idea shaping to development into successful businesses. The HTBI concept is becoming increasingly popular in both developed and developing countries.

Dr. Nguyen Hai An, Director of Agricultural High Technology Business Incubation Centre under the Ho Chi Minh City’s Management Board of Agricultural High Technology said prior to 2003, Vietnam did not have any HTBI. To date, it has recorded 11 HTBIs, including five in the north and six in the south, incubating more than 30 businesses.

According to the Ministry of Science and Technology’s National Agency for Technology Entrepreneurship and Commercialisation Development, the incubated high technology businesses have achieved some initial successes, with the annual sales ranging from 1 to 150 billion VND.

According to Dr. Mai Thanh Phong, Director of the High Technology Business Incubation Centre under the Ho Chi Minh City University of Technology, the Government should have incentives for high technology business incubation establishments and incubated businesses such as long-term stable funding or preferential loans to carry out incubation, production and product testing, as well as favourable conditions to attract international donors and non-governmental organisations. Meanwhile, high technology business incubation establishments should strengthen mutual linkages.-VNA