Promoting start-up based on renovation and creativity

Dr. Sc. Nghiem Vu Khai - Vice President of VUSTA delivering the opening speech

Dr. Sc. Nghiem Vu Khai - Vice President of VUSTA delivering the opening speech

On 11 May 2017 in Hanoi, the Vietnam Union of Science and Technology Associations (VUSTA) held a seminar on strengthening the role of the associations in combining scientists and enterprises to promote innovation, creativity and start-up. Dr. Sc. Nghiem Vu Khai - Vice President of VUSTA, Delegate of the 14th National Assembly and Dr. Tran Van Minh - Vice Chairman of the National Assembly's Committee for Science, Technology and Environment and Delegate of the 14th National Assembly presided over the seminar.

Delivering the opening speech, Dr. Sc. Nghiem Vu Khai - Vice President of VUSTA said that the Government has been very interested in developing science and technology, applying science and technology into life, improving the quality, competitiveness of enterprises. Obviously, the path to developing a strong and sustainable economy and catching up with the world trend is based on innovative and creative start-ups. Thanks to these start-ups together with the policies of attracting and training excellent intellectuals, the prospect of establishing region and world-class companies and groups is quite feasible.

According to Mr. Pham Hong Quat, Director of the Market Development and Science and Technology Enterprise Department affiliated to Ministry of Science and Technology said that in Vietnam, start-up, renovation and creativity activities have been increasingly active in the past years. However, Vietnam has not yet had a favorable environment to support the development of start-ups, or, in other words, start-up eco-system in Vietnam, though attracting participation of full components has not really been developed. The entities supporting start-ups are scathing and uncoordinated. Although a realist basis and investment resources are available to develop the start-ups, innovation and creativity system, a mechanism for mobilization and development of these potentials has been still absent. 

Mr. Quat added that another limitation in Vietnam is that the traditional start-up culture does not adapt to innovative and creative one. Therefore, it is vital to have a thinking of quickly accepting failure, taking advantage of market opportunities as well as available models and developing their own ones. Therefore, according to Mr. Quat, there should have some solutions, namely in-depth investment orientation from the beginning of having ideas to supply of products or services to the market, improving the culture of accepting failure by founders as well as of the society and components in the eco-system for innovation, creativity and start-up activities. In addition, it is due to the fact that investment in start-up groups is different from that in research and development, it is important to review the records in a public, transparent and rapid manner to minimizing cumbersome administrative procedures. Thereby, it is necessary to promote the commercialization of research results in the context of international economic integration and the rapid development of information technology and internet.


Mr. Pham Hong Quat– Director of Market Development and Science and Technology Enterprise Department

Currently, the Market Development and Science and Technology Enterprise Department proposes to develop a legal framework for venture capital, especially legal regulations on the management and promotion of types of venture capital for start-up community, creativity and innovation activities in Vietnam in the Law on small and medium enterprises.

According to Mr. Thai Anh Van - Head of Legal Department of Vietnam Association of Small and Medium Enterprises, in order to have a good cooperation between scientists and enterprises in research, promotion of innovation and creativity, we have to clarify the position of each role. We believe that the State must hold a main role in leading, directing development and giving priority to groups of science and technology; creating a stable legal environment for enterprises to invest in science and technology.

At the seminar, delegates also contributed various comments that improvement of competitiveness in the context of integration is of great significance. Enterprises have been applying effectively science and technology to increase productivity and improve product quality. Also, businesses and economic organizations provide financial support to scientists in researching new technologies for production.


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Author: HT