HÀ NỘI — To expand the start-up ecosystem, enterprises needed management agencies to help build a platform for effective implementation and increase the number of successful businesses. This was stated at the third Start-up Forum held in Hà Nội on Thursday.  

Trần Văn Tùng, Deputy Minister of Science and Technology, said that the start-up movement associated with innovation had been welcomed by young people nationwide.

Apart from the success of some typical first-generation enterprises, the third generation had become the dominant business generator in the last two to three years in fields of technology education, agriculture, and technology finance, e-commerce, entertainment and media.

According to Trần Văn Tùng, Việt Nam has about 30 venture capital funds for start-ups, showing that the start-up ecosystem in Việt Nam already has all the components for development.

However, the ecosystem has not been fully developed mainly because that start-up supporters were working incoherently or there was a lack of mechanisms to mobilise and develop the potential of the ecosystem.

Businesses and delegates attending the forum agreed that management agencies needed to build legal mechanisms, creating favourable conditions for the start-up ecosystem to develop properly.

Trần Trí Dũng, consultant of Swiss Entrepreneurship Program SwissEP, said that the Vietnamese start-up ecosystem was similar to those in other countries.

The problem was how to connect and operate together efficiently. When developing ecosystems, people were trying to work at all tasks. This was extremely difficult, Dũng said. "We should try to focus on what we are good at,” he added.

"As a start-up supporter, I hope that ministries, and agencies will support the ecosyetem but they also need to be selective. We need more successful stories in Việt Nam," he said.

Attorney Nguyễn Văn Lộc, a start-up consultant and LP Group chairman, proposed the distribution of a circular guiding the law supporting small and medium-sized enterprises and encouraging localities to take initiatives in supporting start-ups. — VNS