Thursday, November 23 2017

VietNamNews

Start-up universe forms in south-east, but faces teething troubles

Update: October, 28/2017 - 20:00
Start-ups need more support from authorities. – baomoi.com
Viet Nam News

HCM CITY – A start-up environment with plenty of support for innovation is taking shape in the south-eastern region but there are many teething troubles, a conference heard in HCM City on Thursday.

“Such innovation support activities haven’t had a great impact on the start-up eco-system because [authorities] have not understood the real nature of innovation, and such activities mostly take place in big cities like HCM City and Vũng Tàu,” Mai Thanh Quang, director of the Bà Rịa – Vũng Tàu Province Department of Science and Technology, told the “Solutions to promote innovation start-up eco-system in the south-eastern region” conference.

Small and medium-sized enterprises find it hard to access capital, human resources, technology and market information due to lack of incentives and cumbersome procedures, according to Quang.

“In Bà Rịa – Vũng Tàu Province, the innovation start-up [universe] is still limited, and support activities haven’t persuaded enterprises to take up innovation.”

He pointed out that due to an insufficient innovation start-up eco-system, it is hard to persuade private companies to invest in start-up support organisations.

Incubation centres and co-working places have failed to attract them, he said.

“Connectivity between various provincial innovation start-up members in the region is very poor.”

To promote a start-up eco-system, an official from the Bình Phước Province’s Department of Science and Technology suggested building an inter-regional science and technology programme which would focus on start-up eco-systems.

“The roles of some localities like HCM City must be enhanced to transfer successful start-up models.”

He spoke about the need to build a common science and technology database for the entire region, identify key products of each locality and for the region, and petition central authorities to draft policies to promote a start-up eco-system based on the characters of the region and each province.

“Public-private partnership in assisting organisations and members in the start-up eco-system must be focused on from the beginning because of its social effectiveness rather than economic benefits.”

The start-up community is looking with anticipation at the Small and Medium Sized Enterprises Support Law, which was recently approved by the National Assembly.

However, enterprises, especially start-ups, will need more guidelines from relevant authorities to practically apply the law.

According to the Ministry of Science and Technology’s science and technology enterprises and market development department, in the south-eastern region, there are eight incubation centres for start-up enterprises and three others promoting businesses, most of them based in HCM City.

The city has also developed business ideas, examined start-up products by over 1,500 individuals and connected 3,200 individuals with consultancy experts and investors. – VNS

 

 

 

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