Almost 20 provinces across the country have set up innovative startup support centers, with close to 100 incubators and business promotion organizations in operation, while numerous international innovative startup centers have either opened branches or collaborated to create innovative spaces in Vietnam.
This activity seeks to recognize and encapsulate the challenges and opportunities faced by various provinces and cities in the establishment and advancement of their local innovative startup ecosystems. The goal is to explore innovative solutions and breakthroughs while connecting both domestic and international resources to enhance a network of local innovative startup support centers across the country.
During the forum, Deputy Minister of Science and Technology Hoang Minh highlighted that the science and technology ecosystem in Vietnam has experienced significant growth in recent years, thanks to the focused support from Party and State leaders.
Since the implementation of Project 844 ‘Supporting the national innovative startup ecosystem since 2016’ as well as the initiative to organize TECHFEST, Vietnam has risen from the second least dynamic startup ecosystem among the 6 largest ASEAN countries to rank 44/133 countries, according to the Global Innovation Index (GII) Report in 2024, up 4 places compared to 2023 and 2 places compared to 2022.
Vietnam is also notably acknowledged as one of the eight middle-income nations that have demonstrated significant improvements in their rankings since 2013. Furthermore, it stands out as one of the three countries that have consistently achieved remarkable results relative to their developmental stage for 14 consecutive years, consistently outperforming expectations in innovation outcomes. This reflects the country's effectiveness in transforming input resources into innovative outputs.
In 2024, Vietnam's venture capital landscape has seen significant growth, with a 27-place increase in the number of deals, positioning the country at 50th out of 133, and a 10-place rise in the count of deals receiving funding, now at 44th, showcasing a better investment climate and startup quality.
The ranking index of the Startup Blink global startup ecosystem ranking in 2024 also shows that the startup ecosystem in Vietnamese cities, specifically Hanoi, Ho Chi Minh City and Da Nang, has improved and continued to grow, ranking Vietnam 56th in the world, up 2 places compared to 2023, surpassing Armenia. The above figures show that the Vietnamese creative startup ecosystem is on the rise and shows strong breakthrough potential in this transformation period.
Deputy Minister Hoang Minh stated that the primary objective of developing the science and technology ecosystem is to foster an environment which is conducive to the establishment and growth of science and technology enterprises, ultimately generating significant value for the economy and society.
Therefore, the establishment of a comprehensive support system, underpinned by good legal framework, supportive policies, and robust institutions, notably science and technology support centers, is imperative. These centers will serve as catalysts for mobilizing, harnessing, linking, and optimizing resources within the ecosystem, encompassing local, central, private, and international stakeholders.
Vice Chairman of Hai Phong People's Committee Le Khac Nam said that Hai Phong aims to become a modern, smart, and sustainable industrial city of Southeast Asia by 2030, a modern international logistics service center, international center for training, research, application and development of science and technology with maritime, oceanography, marine economy. The city will promote the development and application of science and technology, innovation, especially in industries such as electronics industry, mechanical engineering, logistics services, marine medicine.
Currently, Hai Phong is facing many challenges in its determination to become one of the top 200 cities/localities with a dynamic global startup ecosystem and have a center for supporting creative startups and connecting internationally.
The city has established and developed Center for Science and Technology Development and Innovation under the Department of Science and Technology to support creative startups and connect creative startup activities in the city, while supporting the development of creative startup ecosystems in neighboring localities in the Red River Delta.
The forum participants have the opportunity to engage in two primary discussion sessions.
The Ministry of Science and Technology reports that a significant number of units working to support innovative startups have been established across the country. These entities originate from various sectors, including private, public, and international organizations, and operate under a range of diverse models.
Notably, approximately 20 provinces have set up centers to support creative startups, while nearly 100 incubators and business promotion organizations are currently in operation. Additionally, several international creative startup centers have either opened branches or collaborated to create spaces for creative innovation in Vietnam.
