Orienting solutions to develop innovative startup ecosystem

Mr. Truong Thanh Hung, Vice Chairman of the National Startup Advisory Council, shared many issues to promote the development of the local startup ecosystem.

From 2016 to present, to deploy the innovation ecosystem, Hue city has developed plans and policies on innovation; built and developed infrastructure and institutions to serve innovation activities; connected the community to support the innovation ecosystem; supported start-up activities, organized innovation competitions... Although it has connected, formed creative spaces, attracted quality human resources and promoted the development of the local innovation ecosystem, there are still limitations, and the potential and advantages have not been fully exploited.

Coordination and connection of elements in the innovation ecosystem are still limited. The relationship between departments, branches, universities, research institutes and enterprises is not close. Support resources have not been mobilized synchronously, leading to overlap and low efficiency. The rate of real business formation from competition projects is still low, reflecting the lack of market knowledge, management skills and long-term development orientation. Support mechanisms are still lacking in legal support for business formation, lack of specialized consulting programs, incubation and investment connection.

Projects are still biased towards agriculture , processing, exploitation of indigenous resources, and few high-tech projects. The application of scientific research results, inventions and intellectual property to startups is still limited. In addition, the lack of venture capital funds and supporting financial institutions makes it difficult for projects to access capital, especially in the initial startup stage.

Representatives of start-up businesses share and contribute ideas at the workshop

At the workshop, Director of the Department of Science and Technology Nguyen Xuan Son acknowledged many contributions, sharing and consultations from experts in science and technology, startups, departments, branches, etc. to promote the sustainable development of the local science and technology ecosystem. The Department of Science and Technology also proposed solutions in the coming time. In particular, it is necessary to promote the connection between departments, branches, and universities, research institutes and businesses to effectively support startup projects. The Department of Science and Technology plays a coordinating role, connecting resources in the science and technology ecosystem, ensuring synchronous and sustainable startup support.

Currently, the Department of Science and Technology is building the Innovation and Startup Ecosystem platform, bringing all startup support activities to the digital space, in order to comprehensively support the project development process, from ideas to business development. At the same time, researching and building a model of the Innovation and Startup Support Center under the City People's Committee, aiming to build an Innovation and Startup Support Center in the Central region in Hue; researching and forming a Venture Capital Fund for creative startups to remove capital bottlenecks for potential startup projects...