The event is an occasion for domestic and international startups, investors, universities, research institutes, policy makers to share information, experience for Vietnamese creative startups, to connect domestic and international startups with big firms, potential investors and investment funds, to create opportunities for Vietnamese startups to directly exchange with Vietnamese policy makers about advantages and difficulties as well as support policies for startups.

The event attracted participation of 8 famous speakers in startup activities from USA, Canada, Israel and Vietnam.

In his opening speech, Secretary Nguyen Thien Nhan said one of the weak points of HCMC is the modest connnectivity of science which has been existed for over 40 years. It means that the connectivity amongst reseachers, highly-skilled trainers and businesses is very limited.

Mr. Nhan said there are two ways to deal with this. Firstly, the city should promote development of technology market in a way that brings scienctific products to businesses, making it a habit for businesses to make order of scientific products from researchers, linking scientists and businesses. Secondly, it is highly recommended that technonology and trade should be linked at the inital time of newly-established businesses.

Mr. Nhan added that in Asia region, including Vietnam, despite low income, we can support startup business by establshing creative startup eco-system. This kind of program has been born by the Government and HCMC, it will achieve high efficiency once being drastically implmented by scientists and businesses.

HCMC has now over 350, 000 enterprises with an annual average contributions of 22% to GRDP including 1/3 industrial output, 1/3 total budget revenue and ¼ total export value of the whole country. While service sector accounts for 58,26% of GRDP, industry -contruction of 24,78% and agriculture of 0,81%.

Mr. Nguyen Ky Phung – Deputy Director of Department of Science and Technology of HCMC – said the city has more than 760 creative startup groups (individuals/organizations) which accounts for more than 42% of that of the whole country. More than 46% of them (350 startups) have been participating into support programs, 222 startups (63 %) have been supported by 10 incubator centers since 2011. In addition, 49% of them have successfully found their financial sponsors, 70% are entering into the first stage of the seed-funding.

The specific results of the implementation of startup support activities in 2016-2017 have presented the city’s efforts in building a solid foundation for creative startup eco-system such as facilities, training, consultancy, research, development, commercialization of scientific products, incubation, cooperation, etc.

In term of scientific and technologcial potential, HCMC now has a high-tech park, a high-tech agricultural area, the Quang Trung Software City, the Biotechnology Center, the Institute for Computational Science & Technology, 45 universities, 30 colleges, over 125 laboratories, and 270 scientific and technological organizations.

Compared to the whole nation, the scientific and technological resources of HCMC makes up 25 percent, the existing businesses, startups, and scientific & technological enterprises account for 50 percent, 42 percent, and 15 percent respectively. The budget for scientific and technological activities in the period of 2016-2017 was nearly US$ 90 million, equivalent to 1,7% of the city’s total budget spending. Of which, the budget for scientific and technological investment and development makes up 55,2%. This is a strong resource for promoting creative startup activities in the city.

In a 2-day event, delegates have discussed 3 key topics: “Phase 1 of startup”, “Development of startups” and “Bringing Vietnamese startups to the outside world”. At the same time, startups also had opportunities to present their ideas while experts would give their advices, consultancy about product and business devleopment directions as well as investment capital attraction, etc.

HCM CITYWEB