She added that out of 50 million startup projects launched each year in the world, there are about 1,000 projects in Vietnam. However, more than 90 percent of startups in the Southeast Asian country fail while this rate in the world is about 75 - 90 percent.
Up to 92 percent of startups fail in the first three years. Experts pointed out that the culprit of the startup failure is that entrepreneurs have not had a suitable strategy for the market as well as a lack of knowledge before starting a business.
Therefore, the Department of Science and Technology of Ho Chi Minh City coordinates with the Ho Chi Minh City Center for the Application of Scientific and Technological Advances under Saigon Innovation Hub and units to open training courses to help organizations, individuals, and start-up businesses have more knowledge of the business. The course on improving innovative startup capacity in 2023 takes place from December 5 to 23.
The training course includes training classes about e-commerce purchasing and selling processes, intellectual property management and brand development, and business sustainability model, capital profile building and market management.
Lecturers are experts in large domestic and foreign corporations who formulate strategic plans for their companies. The course is expected to help entrepreneurs better understand the analytical method of determining customer and product portraits through real stories and live campaign goals of major brands.
Through the training course, startups will help improve their success rate and access business operating skills in response to current social development trends.
In the first phase, the organizing committee will select 25 startup projects in Ho Chi Minh City in fields such as agriculture, processed food, fashion, services, household goods, consumer goods, technology, health, cosmetics, and beauty products for participating in the training course.
In addition, lecturers will analyze the process of building major brands of domestic and foreign corporations which will help startup entrepreneurs understand how to operate in accordance with trends and formulate plans to develop their business models.
There is a growing consumer desire for online shopping in recent years, startups are encouraged to deploy multi-channel sales activities which will be supported by the government. Activities in this training series are expected to provide in-depth knowledge about the skills of selling online or creating an effective marketing strategy helping entrepreneurs and start-ups find new ways to promote products and care for customers more effectively, said Ms. Dang Thi Luan.
