Creating a launch pad to attract venture capital
Decree No. 264/2025/ND-CP on the management mechanism of national and local venture capital funds, effective from October 14, 2025, plays an important role in promoting and supporting startups and startup projects in the fields of high technology, digital technology, green economy , and circular economy. The formation of national and local venture capital funds will create a new mechanism for the State to attract social capital to invest in potential startup projects, supporting the innovative startup ecosystem.
Mr. Nguyen Van Chuong, Director of the Swiss Entrepreneurship Program (Swiss EP) in Da Nang, commented that the Government's issuance of Decree No. 264 represents a strong change in State management thinking, from capital preservation to controlled risk acceptance. This is the necessary legal foundation for the formation of venture capital funds operating under market mechanisms, while opening up great opportunities for Da Nang and other localities.
However, for the decree to be implemented and create real impact, localities need to pay attention to three core factors, including: talent - a big enough problem - ecosystem connection. According to Mr. Chuong, if the locality does not have a mechanism to attract talent, including founders, scientists , technology experts and investors, even if there is a fund, it will be difficult to find projects of sufficient quality to disburse. In particular, mechanisms such as sandbox, visa for high-quality human resources or international advisory network... are prerequisites.
In addition, to attract investment capital, localities must have “big enough problems”, such as: tourism payments, seaport logistics, urban data, AI in public services, renewable energy, etc. These problems will create “orders” for startups and reasons for funds to participate. Along with that, corporations will play the role of first customers and co-sponsors of solutions.
Ms. Huynh Thi Cam Huong, representative of FUNDGO Creative Startup Investment Fund, said that the participation of funds and investors depends on three main factors. Specifically, depending on the "taste", investment funds will choose different investments. In addition, the human factor is what investors are interested in. Because the commitment, sense of responsibility and vision of the founder play a very important role in project development.
“Currently, investment funds are shifting towards ESG (environment - social - governance) standards and the 17 Sustainable Development Goals (SDGs) of the United Nations. Therefore, startups/projects need to grasp this to have appropriate development orientation. We also expect that the projects we invest in will create positive impacts, promoting sustainable development for the locality and society,” Ms. Huong shared.
Promoting startup ecosystem connectivity
According to Mr. Pham Hong Quat, Department of Startups and Technology Enterprises (Ministry of Science and Technology), the implementation of a database system synthesizing information on the "health" of startup projects and the "taste" of investment funds is one of the tasks being coordinated by the Department. The database must ensure 6 factors: correct - sufficient - clean - alive - unified - shared. Then, from incubators, investment funds, enterprises to management agencies can all access, analyze, provide data and exploit according to the public - private model of joint implementation.
“A strong startup ecosystem cannot rely solely on the public sector but also on the active participation of private incubators, businesses, and investment funds. When the mechanism expands, the “playing field” will become more fierce with the participation of investment funds and foreign investors, but the important thing is to know how to turn competitors into partners. Therefore, it is necessary to design a common game and have ecosystem connections so that everyone goes in the same direction,” Mr. Quoc expressed.
Similarly, Mr. Nguyen Van Chuong also said that local funds are only effective when they are part of a complete ecosystem, including: public investment funds - private investment funds - incubators - venture builders - angel investor networks and large enterprise sectors.
“Decree No. 264/2025/ND-CP opens a new door, but to step through that door, the important thing is how localities turn capital into measurable, widespread and sustainable innovation capacity. Da Nang has a great opportunity to become a pioneering locality if it knows how to combine policies, people, businesses and investors into a unified ecosystem,” Mr. Chuong emphasized.
Source: https://baodanang.vn/da-nang-lam-gi-de-thu-hut-va-phat-trien-hoat-dong-dau-tu-mao-hiem-3310200.html
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