There are around 50 technology business incubation centres at research institutes, universities and high-tech parks around the country. — Photo VNA

Viet Nam News HCM CITY —The Ministry of Science and Technology hopes to promote incubation of technology businesses by having a comprehensive legal framework, improving links between research institutes, universities and businesses and commercialising research outcomes.

There are around 50 technology business incubation centres at research institutes, universities and high-tech parks around the country.

They provide start-ups with comprehensive assistance from the beginning with respect to business ideas, product development, establishment and successfully running the business.

The HCM City High-Tech Park’s High-tech Business Incubation Centre has successfully incubated five firms, including smart-home and power control product maker ACISC and nano product maker VIOTEK.

“Since 2009 the centre has implemented 31 projects and created 250 high-tech jobs,” Lê Thành Nguyên, its director, told Sài Gòn Giải Phóng (Liberated Sài Gòn) newspaper.

“We have got [financial] support for completing our products, getting legal assistance, providing training in commercialisation to minimise risks and bringing our products into the market.”

Besides in HCM City, there are many other business incubation centres in places like the Hòa Lạc High-Tech Park’s centre, Hà Nội Polytechnic University, and the Ministry of Science and Technology’s Technology Application Institute.

These centres focus on important fields like information and telecom, automation, microelectronics, new materials, and agriculture.

Around 200 enterprises in the country have been midwifed by business incubation centres, and all of them invest in research and development of technology. Some have established their own R&D centres, trained high-quality human resources and brought a series of products into the market. Others have benefited from technology and human resources transfer from international partners.

However, most of them are just one to five years old and in the initial stages of development, and are likely to face a lot of challenges.

Most of the incubation centres themselves work independently and are not very successful at product commercialisation due to lack of market information and marketing experience.

In the event, the ministry’s assistance assumes even more importance. — VNS