HCMC introduces missions to develop its innovative startup ecosystem

The innovative startup ecosystem in Ho Chi Minh City is oriented into becoming a regional-scaled one. Therefore, it needs much support from both the municipal authorities and the community. HCMC’s leaders have introduce a special support project to fulfill this aim.

Rice and face mask ATM - an innovative activity in HCMC. (Photo: SGGP)

The supporting project to develop HCMC’s innovative startup ecosystem hopes to turn this system into a strong foundation for innovative activities in the city. This, in turn, will lead to performance boost, product quality improvement, and competitiveness increase for all businesses sited in HCMC.

In addition, the ecosystem is expected to foster the manufacturing of the city’s staple products and increase the contribution of Total Factor Productivity (TFP) to the annual GRDP to reach around 40 percent.

The HCMC Department of Science and Technology has introduced 8 missions to successfully complete this supporting project:

·         Develop suitable infrastructure and supporting services for the innovative startup ecosystem;

·         Increase the capability of all members in this ecosystem and form sub-ecosystems for each key field;

·         Aid businesses in developing their own products and launching them in the market;

·         Aid small- and medium-scaled businesses to boost their performance and product quality via innovation;

·         Foster innovation in the public sector;

·         Promote international partnerships in innovative startup activities;

·         Propagandize innovative startup to the general public;

·         Evaluate the effectiveness of each mission in the project.

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