UNDP, Citi Foundation support innovation, startups in Vietnam

Hanoi (VNA) – The UN Development Programme (UNDP), Citi Foundation and the Ministry of Science and Technology (MOST) jointly organised a diagnostic workshop on the state of the social impact startup ecosystem in Hanoi on June 15.

In his opening remarks, MOST Deputy Minister Tran Van Tung said sustainable development is one of the important orientations in the country’s socio-economic development.

“Social impact businesses both make profit and have a positive effect on the community. And with their ability to adapt and replicate quickly around the world, these innovative businesses are the best models to tackle social challenges, create social impact, and accelerate the achievement of the UN Sustainable Development Goals,” he said.  

“A vibrant startup ecosystem and skilling are key to unleashing the creative energies of youth in meeting the most pressing SDG challenges in Vietnam,” said Caitlin Wiesen, UNDP Vietnam Country Director, at the event.

She also informed that UNDP will open up applications for SDG Innovations Incubator and selected teams will receive an intensive business incubation and impact acceleration programme as well as the opportunities to pitch their ideas to national and international investors. 

Director and co-founder of Healthy Farm Nguyen Thi Thuy said her company will target providing clean and safe farm produce with clear origin to consumers, hotels and restaurants in order to develop social renovation and startup spirit among youths in Vietnam.

At the workshop, speakers focused on discussing young social innovators, developing startup spirit among youths in Vietnam, sustainable investment, and investment vectors, among others.

The workshop was part of the Youth Co:Lab Vietnam 2018 initiative, which is looking for the next generation of leading social entrepreneurs in Vietnam, following the success of the SDG Challenge in 2017.-VNA