HÀ NỘI — The municipal People’s Committee on Tuesday officially launched StartupCity.vn - a start-up ecosystem, which is expected to connect start-ups with international firms, thus creating new jobs.

In the past few years, Việt Nam has seen considerable improvements in the start-up community. Many start-ups have successfully called for investments amounting to several million US dollars by expanding to the world market.

However, experts said Việt Nam still lacks a complete start-up ecosystem.

Therefore, Hà Nội established the portal to create an online platform to connect start-ups with foreign investors.

Speaking at the launch ceremony, Nguyễn Đức Chung, chairman of the municipal People’s Committee, said StartupCity.vn has been an example of the country’s rapidly developing technology sector.

“Angel investors and venture capital funds can directly connect with start-ups through the portal,” Chung said, adding that the platform was developed in Hà Nội after consulting experts from Israel – a country, which boasts of being a model start-up nation.

US$1 million support for start-ups

Up Co-working Space and the Việt Nam Prosperity Joint Stock Commercial Bank (VPBank) jointly launched a hi-end working space on the same day to provide maximum support to the Vietnamese start-up community.

In 2017-18, VPBank Start Up will spend at least US$1 million to directly support Vietnamese start-ups. The strategic co-operation between the Up Co-working Space and VPBank is expected to be an important step for the start-up community. The two sides plan to host a number of activities, including major contests, to support and promote innovative start-ups in Việt Nam. 

Founder of the UP Co-working Space, Đỗ Hoài Nam, said businesses will get a chance to experience the A-standard working space at UP@VPBANK, at a reasonable cost. Furthermore, UP@VPBANK will offer the best assistance to innovative start-ups and potential financial technology (fintech) businesses to promote creativity and competitiveness, he said. 

They will get financial, accounting and legal support from investors, and have opportunities to work together, connect and cooperate to realise the goals of a “start-up city” and a “start-up nation,” he added. 

Nguyễn Đức Vinh, VPBank’s general director, said the bank hoped to create a strong momentum in the development of the start-up community in Việt Nam.

The UP@VPBANK hi-end working space is located on the 21st floor of VP Tower, 89 Láng Hạ. UP Co-working Space was developed by entrepreneurs pioneering the start-up movement in Việt Nam. It now has six branches in Hà Nội and HCM City. — VNS