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Official Gazette

Thursday, March 4, 2021

Incentives for national innovative startup ecosystem schemed

Updated: 07:54’ - 26/05/2016
By 2020, 800 startup projects will receive support from the Government according to Prime Minister Decision No. 844/QD-TTg dated May 18, promulgating the scheme to support the national innovative startup ecosystem through 2025.
US President Barack Obama talks with startups in Ho Chi Minh City in his visit to Vietnam__Photo: Van Dat/VNA

Such is an effort of the Government to boost the development of startup enterprises, a type of enterprise that can grow quickly based on intellectual property, technologies and innovative business models.

Under the scheme, by 2020 the legal system and a national e-portal for startups will be developed to provide support to 200 startup enterprises, 50 of which will be able to lure investment from venture investors or get involved in merger and acquisition deals of a gross value of around VND 1 trillion.

Eligible for support are individuals and groups of individuals having startup projects or startup enterprises which can grow rapidly on the basis of intellectual property, technologies and new business models and have operated for up to five years from the date of being granted the business registration certificates; and organizations providing services, physical and technical facilities, carrying out communication campaigns for innovative startups, or investing in these enterprises, with at least one year of operation in the field or providing supports for at least 10 startup enterprises.

In order to achieve the above targets, it is schemed to launch a national startup e-portal providing information on technologies, inventions, standards, measurement and quality control, intellectual property, policies, laws and human resources; and assist ministries, sectors and potential localities in building and operating startup incubation zones with numerous incentives, including preferential infrastructure operation charge rates, free internet and supportive IT infrastructure facilities.

In addition, the Vietnam Silicon Valley project will be further implemented under the scheme, with national scientific and technological projects to be commenced in the next five years.

Human resource training support will also be provided to build the capacity of innovative startups through funding the purchase of copyrighted international training programs and hire of foreign and domestic experts to provide innovative startup training courses to startup trainers and investors.- (VLLF)

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