The Ministry of Science and Technology and the People's Committee of Hai Phong City held the press conference to inform about the event TECHFEST Vietnam 2024. This is an annual event chaired by the Ministry of Science and Technology, in coordination with ministries, agencies, localities, and socio-political organizations.
As reported by the Ministry of Science and Technology, after nine years of establishment, TECHFEST Vietnam has evolved into a significant event that draws the attention of policy-making bodies, management officials, corporations, enterprises, organizations supporting creative startups, and both domestic and international investment funds. This event plays a crucial role in linking local and global resources in the Vietnamese creative startup ecosystem, thereby reinforcing Vietnam's standing on the global creative startup landscape.
In 2024, the Ministry of Science and Technology collaborated with the People's Committee of Hai Phong City to host TECHFEST Vietnam, centered around the theme ‘Collaborating to Advance the Vietnamese Innovative Startup Ecosystem’.
This event aims to showcase, motivate, and recognize exceptional accomplishments in innovative startup initiatives across businesses and society at large. It will also provide a comprehensive review and assessment of the decade-long evolution of the innovative startup ecosystem, while outlining future development directions for this ecosystem in the upcoming period.
Furthermore, the event seeks to generate momentum for both the economic and social advancement of Vietnam as a whole, and specifically for Hai Phong, through innovative startup activities.
The series of events takes place over 3 days from November 26 to 28, 2024 in Hai Phong City with many activities including the opening ceremony of TECHFEST 2024, high-level policy dialogue forum, exhibition of innovative startup products and services, a series of in-depth seminars on developing an innovative startup ecosystem, investment connection, and Vietnam's creative startup talent search contest.
Addressing the press conference, Deputy Minister of Science and Technology Hoang Minh emphasized that in recent times, Vietnam's creative startup ecosystem has developed strongly, creating a new generation of businesses operating based on intellectual property and capable of accessing the global market.
He disclosed that in 2024, Vietnam's creative startup ecosystem ranked 56th in the Startup Blink global startup ecosystem index, with Hanoi and Ho Chi Minh City among the top 200 global startup cities.
Since 2017, Vietnam's Global Innovation Index (GII) has shown consistent improvement, rising from 59th place in 2016 to 44th in 2024. Notably, the GII 2024 results highlight three leading global indices, including the Creative Goods Export Index, which has achieved a top position for the first time.
The venture capital landscape in Vietnam is also experiencing positive growth, evidenced by the increase in the Number of Venture Capital Deals index, which improved from 77th in 2022 to 50th in 2024. Additionally, the index for the Number of Deals Receiving Venture Capital rose from 54th in 2021 to 44th in 2024.
