Moc An startup product lines are constantly innovating and creating to meet market needs.

Bright spots interspersed with low notes

Since the Government issued Decision 844/QD-TTg, dated May 18, 2016, on supporting the national innovation ecosystem, Hue has quickly concretized it with many policies. Notably, the "Startup Capital" Project for the period 2021 - 2025, with a vision to 2030; resolutions of the Provincial People's Council (now the city) on financial support, technological innovation, intellectual property development; or the establishment of the Innovative Startup Investment Fund since 2019. These are important foundations to help Hue shape the innovation ecosystem.

In terms of infrastructure, many support centers and spaces have been established: Hue University Center for Entrepreneurship and Innovation, Center for Innovation and Entrepreneurship under the Institute for Development Studies, startup clubs, incubators at facilities in the education system and businesses... The project to build the Hue City Center for Innovation and Entrepreneurship has been approved and is being implemented with the expectation of forming an international standard information technology complex, attracting high-quality human resources.

Hue also organizes many regional and national level competitions and events to introduce and promote innovative products. The city-level innovative products competition, which has been maintained continuously for the past 9 years, has attracted more than 500 ideas and projects to participate, with 81 outstanding projects and ideas being awarded, forming 58 startups. Some "early" and "mid-generation" startups such as Gia vi bun bo Hue, Giay Xua, Moc Truly Hue's, Marie's - Co Bang of Hue, Maypaperflower, Banh ep Hue - Hue One Food, Lien Minh Xanh... have initially made their mark, exploiting local values ​​to commercialize products.

Hue's fig startup products are being innovated and improved to capture a wider market share.

Hue is a pioneer in promoting innovation and entrepreneurship in the Central region and has soon formed an ecosystem with many components: co-working space, incubator, young startup community, support from universities, businesses, managers... However, after a vibrant start, startups in Hue are slowing down. According to statistics from the Department of Science and Technology, the rate of projects coming into practice is only about 11.5%. Many projects after receiving awards have "sunk" due to lack of management skills, lack of capital and no stable market.

Mr. Nguyen Xuan Son, Director of the Department of Science and Technology frankly admitted: "There are policies, infrastructure, and movements, but if they are not exploited and promoted effectively, the startup ecosystem will not be able to take off. The important thing is to look at the reality, not to embellish it, not to be unrealistic, from there we can make changes and make breakthroughs."

Need more substance and stronger links

The major limitation at present is the lack of connection between the elements in the ecosystem in Hue: Universities, research institutes, businesses, and managers. Many startups are still struggling with ideas, products are not really different, and there are few high-tech projects. They are mainly agricultural products, processing, and exploitation of local resources. The application of scientific research, inventions, and intellectual property to startups is still limited. The lack of venture capital funds and supporting financial institutions makes it difficult for projects to access capital, especially in the initial startup stage.

Mr. Truong Thanh Hung, Vice Chairman of the National Council for Innovative Startups, shared that startups that want to succeed must dare to try and accept initial risks. They should not stop at the level of prototype products or competition movements. The important thing is to create products with real value, with the ability to commercialize and expand the market. Each startup is ready to outline its own stages and roadmap, such as about 5 years for transition and innovation. Only then will startups bring experiences, innovation and create products that contribute practically to society.

From the business perspective, many "early" startups also admit that the startup journey in Hue is not easy. The representative of Gia Vi Bun Bo Hue said that although the product is associated with traditional specialties and has attracted attention, to expand the market and build a sustainable brand requires capital, larger distribution channels and especially requires each startup to always "renew itself", take the initiative and not just wait and rely on policies. The founder of Giay Xua startup - Ms. Nguyen Ngoc Quynh Anh also said that many startups are having difficulty accessing the market. Therefore, in addition to being proactive, creative, and enhancing the value of the business's products, there is also a need for connection between businesses.

In the coming time, Hue plans to build a digital platform to connect start-up activities, research and form a venture capital fund and establish a support center under the City People's Committee. However, success or failure depends on the cooperation between the government, universities and businesses.

According to Mr. Nguyen Xuan Son, Hue's innovation ecosystem needs to change towards quality and sustainability. It is time to not stop at the movement but to have close connections, dare to innovate and create conditions for bold ideas, especially ideas and projects on digital technology to form real products to conquer the market. More importantly, it is necessary to attract startups and investors from all over to Hue. At that time, Hue can completely break through to become a bright spot for innovative startups in the Central region and the whole country.

Article and photos: HOAI THUONG

Source: https://huengaynay.vn/kinh-te/khoi-nghiep/he-sinh-thai-khoi-nghiep-doi-moi-sang-tao-o-hue-chua-but-pha-157490.html