STRENGTHEN THE NATIONAL START-UP ECOSYSTEM

In Vietnam, the start-up ecosystem has become more and more growing in both quantity and quality, the amount of investment funds for start-up activities has also been constantly rising. However, the development of the state’s innovative start-up still can not make a breakthrough due to some constraints such as the quality of the human resources is not high, a lack of investment funds to develop start-up models, a lack of close connection between components in the start-up ecosystem. Consequently, Vietnam truly needs efficient solutions to foster a nationwide innovation support network.

SURF proposes 4 solutions to boost the development of the startup ecosystem:

1. Concentrate on promoting local innovative startup activities:

People Committee’s provinces and cities need to concentrate on promoting local innovative start-up activities through specific programs such as incubation, investment, training-organizing events,… It’s necessary to create conditions for start-ups to promote their initiative, improve competitiveness and business performance, especially in the “new normal” context in the world.

2. Enhance roles of universities and institutions: 

Associate research activities applied in universities, institutions with actual needs of enterprises and the economy. An increasing partnership between universities, institutions, and businesses can be implemented in many ways as follows: 

  • Assist in research (including financial aid or scientific equipment); 
  • Collaborate in research through establishing research center attached to supporting start-ups;
  • Media activities (both direct and indirect) to attract companies involving university programs; 
  • Technology transfer in activities based on research cooperation with businesses, in which universities and institutions are the main source of information. 

3. Bolster educational activities and training: 

With the aim of arousing the entrepreneurial spirit at an early age, universities, colleges need to run practical learning and working programs that provide and encourage students in starting start-ups. Universities ought to build a general forum, organize an exchange, meet-up events where students can discuss with speakers, experienced experts in the field of the startup. In addition, schools should actively create a favorable environment for students to participate in innovation activities, scientific research, and start-up competition to look for promising projects, thereby training them to further develop in the future. 

4. Reinforce business connection in the new era: 

The last solution is to reinforce a connection of components in the ecosystem through events, conferences, fairs related to start-up, thereby enhancing the support and investment to unitedly grow the national innovative start-up network. Nowadays,  start-up events are more popular, becoming an effective way to connect start-ups with investors, leading experts and visitors interested in an innovative startup. It must be mentioned the Extended Danang Start-up Exhibition – SURF. SURF is an annual event anticipated by the start-up community, targeting the objective of connecting businesses with the start-up community, thereby building Danang to become an innovative start-up center in the region. 

SURF 2021 is still ongoing with highly interactive activities, hopefully brings exciting experiences to both business and visitors. There are only 7 days left, let’s participate in SURF today: https://surf2021.vrfairs.vn/ 

Learn the relevant articles: 

>> 5 PRESTIGIOUS VENTURE CAPITAL FUNDS IN VIETNAM

>> A PITCH FOR START-UP IDEAS – 3 TIP-OFFS FOR INVESTORS TO “NOTICE” YOURS

>> “NEW NORMAL” START-UP TRENDS IN THE AFTERMATH OF COVID-19

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