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Local startup ecosystem: Promote resource connection
After nearly 10 years of construction, Vietnam's national startup ecosystem has a clear shape with initial results. Unicorns have appeared, the amount of capital invested in the startup ecosystem has grown significantly year by year. Seeing clearly the opportunities that innovative startups bring, localities such as Da Nang, Hue, etc. are also transforming.


A user experienced virtual reality technology at Techfest Hai Phong 2022. Photo: Vietnamplus

The first stop of Techfest 2022 is Son La - a mountainous province more than 300km from Hanoi. Mr. Pham Hong Quat - Director of the Department of Market Development and Science and Technology Enterprises (NATEC) believes that the value of startup lies in combining innovation with the potentials and endemic products of Son La to help this province has become the focus of startups in the Northwest region. With that spirit, from Son La, Techfest has come to Hai Phong, South Central region, Central Highlands. In particular, the national Techfest will be held in Binh Duong in December 2022.

However, domestic resources are not enough. Building a link between Vietnam's startup ecosystem with the region and the world is the next important step to take advantage of capital resources, a network of experts and advisors. Therefore, an international online exchange program with five domestic bridges in Hanoi, Hue, Da Nang, Binh Duong, and Ho Chi Minh City and two international bridge points France and Korea were organized to find the solution.

It can be seen that the current state of start-up and innovation in localities is diverse. Da Nang shows the development of a dynamic city and is investing a lot of resources, including policies for in startups. Specifically, according to Mrs. Vu Thi Bich Hau - Deputy Director of Da Nang Department of Science and Technology, the city has established a council to coordinate the Da Nang start-up network, forming nine coworking spaces, two innovation spaces for youth, ten startup clubs and six incubators. In addition, Da Nang also lobbied for the establishment of four venture capital funds with a total committed capital of up to 1600 billion VND.

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