Director of Hà Nội Department of Science and Technology Nguyễn Hồng Sơn. Photo hanoimoi.com.vn

From October 12 to 14, Hà Nội will host The 2023 Capital Region Innovation Start-up Festival, also known as Techfest Hanoi 2023, under the theme "Connecting the Capital Region - Creativity and Development”. Director of Hà Nội Department of Science and Technology Nguyễn Hồng Sơn discusses the event with Hà Nội Mới (New Hà Nội) Newspaper.

Could you highlight the key features of the Capital Region Innovation Start-up Festival 2023?

Techfest Hanoi 2023 is a collaborative effort between the Hà Nội People's Committee and the Ministry of Science and Technology at the Capital Region level, encompassing Hà Nội, Vĩnh Phúc, Thái Nguyên, Bắc Giang, Bắc Ninh, Hưng Yên, Hải Dương, Hà Nam, Hoà Bình, and Phú Thọ. Its primary objective is to foster and nurture a start-up and innovation ecosystem in the Capital Region, leveraging Hà Nội as its hub and capitalising on networking opportunities, emerging trends, and connectivity to drive regional socio-economic development.

The festival comprises a range of activities, including an exhibition showcasing innovative start-up projects and products, technology demonstrations, and a platform for connecting supply and demand. With 120 booths featuring innovative start-ups, scientific enterprises, universities, research institutes, incubation centres, business incubators, technology incubators, investment funds, and components of the innovative start-up ecosystem from Hà Nội and the surrounding provinces in the Capital Region.

In addition, there are two forums - one focuses on promoting an open innovation ecosystem oriented toward ESG in Hà Nội City, while the other is dedicated to creative youth start-ups. Additionally, two conferences are scheduled within the framework of Techfest Hanoi 2023. One will centre around businesses with a focus on science, technology, and innovation, while the other emphasise the promotion of logistics, linkages, and development in the Capital Region.

Notably, Hà Nội is hosting the Hà Nội Innovation Start-up Competition for the first time in 2023.

What are your expectations for this event from the participating stakeholders?

The 2023 Capital Region Innovation Start-up Festival aims to attract the attention and active participation of various entities, including government agencies, business communities, experts, engineers, scientists, students, and the general public within the Capital Region. The festival seeks to enhance awareness about science, technology, digital transformation, and innovative start-ups.

This event also looks forward to create, connect, and augment the capacity of the various players in the Capital Region's innovative start-up ecosystem, which includes large enterprises, pioneering technology companies, small and medium-sized businesses, organisations and individuals supporting creative start-ups, investors, experts, scientists, science and technology organisations, research institutes, and universities across the region.

Additionally, it aims to formulate and implement ground-breaking strategies for establishing a networked innovative start-up ecosystem that combines practicality with digital transformation, creating innovation corridors in the digital realm to facilitate the growth of the science and technology market in the Capital Region, particularly in Hà Nội.

How would you assess the current state of the start-up and innovation ecosystem in Hà Nội?

In recent years, Hà Nội has witnessed a dynamic and robust landscape of innovative start-up activities. This ecosystem is gradually maturing, driven by the devoted attention and guidance of the City Party Committee, People's Council, People's Committee, and the invaluable support and promotion of the Ministry of Science and Technology, as well as other relevant entities.

Currently, Hà Nội hosts approximately 1,000 innovative start-ups, constituting a significant 26.32 per cent of the total 3,800 innovative start-ups nationwide. To facilitate professional training and incubation programmes for these enterprises, the Capital Region has established start-up support organisations such as business incubators and business promotion bodies. There are currently 32 business incubators, spanning various industries and sectors, which accounts for 38.1 per cent of the national total. Moreover, 14 organisations provide business promotion programmes, representing 40 per cent of the national figure.

Hà Nội regularly hosts workshops, forums, discussions, investment connections, and training courses dedicated to innovative start-ups. From 2016 to the present, start-up and innovative businesses in the city have secured US$999.52 million in funding through 99 successful capital calls, illustrating the active participation of the community in ecosystem development.

While these initiatives have had a positive impact on nurturing a creative start-up ecosystem, there is still a need for better alignment and connection among ecosystem participants. Information about the ecosystem is currently fragmented and lacks cohesion, leading to investors struggling to find innovative start-ups and start-ups being unclear about available policies and support focal points.

In your opinion, what measures should Hà Nội adopt to foster an innovative start-up ecosystem?

To advance the innovative start-up ecosystem in the city, Hà Nội should pursue the following key strategies:

Creating an online platform to link the city's innovative start-up ecosystem with the national and local innovation start-up ecosystems. Every university and research institute should strive to become innovation centres, contributing resources and fostering connections within the ecosystem.

Establishing and operating the Hà Nội Centre for Innovation and Entrepreneurship, attracting both domestic and foreign resources, both human and financial, to support innovative start-ups.

Promoting public awareness and entrepreneurial spirit within society, garnering attention, participation, and investment in creative start-ups. Fostering a startup culture, especially among the youth, to elevate the creative entrepreneurship index and connect various startup communities and ecosystem elements.

We also need to leverage support and resources from the central Government, particularly from the Ministry of Science and Technology and the Ministry of Planning and Investment. VNS