The Techfest Vietnam 2017 was announced at a press conference of the Ministry of Science and Technology (Photo: VNA)

Hano​i (VNA) –
The Techfest Vietnam 2017 is scheduled to take place in Hanoi in mid-November to promote start-up businesses.

The information was announced by Deputy Minister of Science and Technology Pham Cong Tac at a press conference in the capital on October 5.

He said this year’s festival will be held at a larger scale than the previous year and designed into start-up villages in agriculture, healthcare, new technologies and investment links.

The event also looks to promote the start-up ecosystem in Vietnam and link domestic and international start-ups via luring investment for start-up firms, providing policy consultancy on innovation, honouring start-ups and organisations for active contributions to the start-up community.

Director of the Ministry of Science and Technology’s Department of Market Development and Science and Technology Enterprise Pham Hong Quat said the Techfest 2017 expects to highlight Vietnam as a potential destination for start-up development.

It also aims to connect nationwide innovation systems from cities, provinces, ministries, departments and associations to create a start-up ecosystem linking with the region and beyond, he added.

The 2016 Techfest attracted nearly 170 investors and more than 3,000 visitors.

With young population, Vietnam is working towards becoming a start-up nation in the Asia-Pacific Economic Cooperation (APEC). The Government targets to have one million effective enterprises by 2020.-VNA