A workshop discussing measures to boost innovative startup ecosystems at local level took place in the central province of Quang Nam on November 26 (Illustrative photo: VNA)
 
Quang Nam (VNA) – A workshop discussing measures to boost innovative startup ecosystems at local level took place in the central province of Quang Nam on November 26.

As part of TechFest Vietnam 2018, the event was co-organised by the Ministry of Science and Technology (MoST) and the provincial People’s Committee.

According to participants, startup ecosystems must be developed in specific localities as each region has its own culture and development advantages. Small startup ecosystems will then form a national startup ecosystem.

MoST Deputy Minister Tran Van Tung said localities should follow the Prime Minister’s Project 744 on supporting the national startup ecosystem by 2025 to build their own ecosystems in line with their conditions and competitive edges.

To develop local-level startup ecosystems, it needs the engagement of the entire political system, the connection of resources in support for startups, and the active participation in domestic and international startup networks, he said.

In addition, localities should improve awareness and knowledge of officials in charge of supporting startups and build a contingent of good startup advisors.

Tran Tri Dung, a specialist from the Vietnam Mentors Imitative (VMI), highlighted the important role of advisors in the development of innovative startups. They are experienced businesspeople who will inspire startups in their path of development with full of difficulties and challenges.

According to the MoST, Vietnam now has about 3,000 innovative startups, double the figure in 2015, focusing on such fields as agriculture, tourism and finance.

The country is also home to 40 startup investment funds with a total estimated value of 400 million USD in 2018.

In addition, many young business incubators have been opened in localities throughout the nation, creating more than 200 enterprises in various fields since 2015.-VNA