The HCM City Innovation Startup Centre (SIHUB) in Xuân Hoà Ward is set to officially open its doors this August. — Photo www.sggp.org.vn

HCM CITY — The HCM City Innovation Startup Centre (SIHUB) in Xuân Hoà Ward is set to officially open its doors this August, further cementing the city’s role as a leading hub for innovation and entrepreneurship in the region.

Operated under the city Department of Science and Technology, SIHUB will act as a central platform to accelerate the development of the city’s startup ecosystem while promoting both domestic and international collaboration in innovation.

It is designed to serve as an one-stop support centre for startups by offering co-working spaces, digital infrastructure, and a range of services including product testing, prototyping, and technological refinement.

It will also work closely with incubators, universities, and research institutions to identify, nurture, and develop promising innovative ideas.

Startups and tech organisations based at SIHUB will be eligible for support in business model development, training, and market access, as well as access to pilot implementation and technology transfer opportunities.

According to the Department of Science and Technology, the operational model and selection criteria for participants at SIHUB are currently under review.

However, proposed conditions include having a clear legal status, alignment with SIHUB’s mission, and a commitment to long-term participation in the city’s innovation ecosystem.

The centre plays a strategic role in implementing the National Assembly's Resolution No 98/2023/QH15, which grants the city special mechanisms to accelerate development.

Under this resolution, 152 innovation projects have already received city support, with total funding of VNĐ10.3 billion (US$395,000).

Moreover, three public units have been approved to help establish an international-standard research centre, with a projected budget of VNĐ200 billion ($7.6 million).

The city is also advancing four key policy groups to promote science and technology, including attracting experts to public institutions for R&D, offering non-refundable financial support to startups, testing new technological solutions under controlled conditions, and funding innovation-focused science and technology tasks.

Long-term vision for innovation

HCM City has set an ambitious target of joining the world’s top 100 most dynamic innovation ecosystems by 2030.

To this end, the city is focusing on three strategic pillars: enabling policies, infrastructure development, and high-quality human resources.

In the policy sphere, a streamlined “one-stop” mechanism is being developed to simplify administrative procedures for startups.

In terms of infrastructure, the city is expanding co-working spaces, forming networks of investment funds, building advanced R&D centres, and fostering stronger linkages across the innovation ecosystem.

Lâm Đình Thắng, director of the city’s Department of Science and Technology, said science, technology, and innovation have long been key components of the city’s development vision.

“HCM City remains committed to driving growth through innovation, and SIHUB will be the cornerstone for implementing this strategy,” he said.

He cited the success of pioneering initiatives such as the Sài Gòn Hi-Tech Park, Quang Trung Software Park, and the country’s first digital transformation programme. — VNS