Techfest Hanoi 2023 Opening Ceremony

Techfest Hanoi 2023, themed " Hanoi Connecting the Capital Region - Innovation and Development," is expected to connect technology, create and promote the startup ecosystem, and strengthen regional linkages.

The 2023 Hanoi Capital Region Innovation and Entrepreneurship Festival (Techfest Hanoi 2023) opened on the afternoon of October 12th at the National Convention Center. The program aims to create and promote the development of a regional innovation and entrepreneurship ecosystem, with Hanoi as its center, leveraging opportunities, trends, and the strength of socio-economic development linkages, and supporting the development of the region's science and technology market.

In his opening remarks, Deputy Minister of Science and Technology Le Xuan Dinh stated that building an innovation ecosystem must be linked to localities and regions, focusing on exploiting core and local resources to create long-term sustainability for the development of the national ecosystem.

He mentioned the Global Innovation Index 2023 report, noting that Vietnam continued to improve its ranking, rising two places compared to 2022, to 46th out of 132 countries and economies. This result is thanks to the development of national technological capacity and a growing innovative startup ecosystem.

Deputy Minister Le Xuan Dinh delivered the opening remarks at the event. Photo: TTTT — Deputy Minister Le Xuan Dinh delivered the opening remarks at the event. Photo: *TTTT*

However, Deputy Minister Dinh frankly stated that current ecological and environmental sustainability indicators are low, indicating the need for institutional improvements to facilitate socio-economic development linked to green growth and sustainable development based on science, technology, and innovation. He expects Hanoi to play a pivotal role, along with other provinces and cities, in developing its strengths in an open manner to unleash its potential and intellectual resources.

He assessed that Techfest Hanoi contributed to creating momentum and spreading the spirit of entrepreneurship. Besides the series of activities developing the ecosystem and linking local areas, he hoped the program would receive many practical solutions to unlock the potential of the capital region.

According to Vice Chairman of the Hanoi People's Committee Le Hong Son, Hanoi is gradually developing its role, creating momentum for development, and expanding forms of linkage, cooperation, and support for localities in the region and the whole country. Hanoi is leading the country in implementing policies and guidelines on science, technology, and innovation. According to data from Startup Blink, Hanoi and Ho Chi Minh City are ranked among the top 1,000 global startup cities.

He stated that innovative activities with high knowledge content have created a strong impetus and formed a new wave of development for the city's and region's economy and society. From 2016 to the present, innovative startups have raised $1 billion with 100 successful funding deals. The city has implemented many mechanisms and policies to support innovative startups, thereby promoting the development of the innovative startup ecosystem.

Mr. Le Hong Son speaks at the event. Photo: TTTT — Mr. Le Hong Son speaks at the event. Photo: *TTTT*

Currently, Hanoi has approximately 1,000 innovative startups out of a total of 3,800 innovative startups nationwide (accounting for 26.32%). To date, there are 32 business incubators operating in multiple sectors and fields within the city (accounting for 38.1% of the total number of incubators nationwide).

The Vice Chairman of Hanoi proposed accelerating the online connection of the city's innovation and startup ecosystem with the national ecosystem, with each university and research institute serving as an innovation center to contribute to connecting resources for the ecosystem.

He also proposed the establishment and operation of the Hanoi Innovation and Entrepreneurship Center to lead and connect stakeholders in the startup ecosystem, provide support services for startups, and link resources. Besides building an entrepreneurial culture among young people, it is necessary to leverage the achievements of the Fourth Industrial Revolution and available resources.

Techfest Hanoi 2023, jointly organized by the Hanoi People's Committee and the Ministry of Science and Technology, took place from October 12-14. The program included a forum connecting technology and innovative startups to promote an open innovation ecosystem oriented towards ESG in Hanoi, a Youth Startup Forum, and two scientific workshops on the themes of businesses with science, technology and innovation; and promoting logistics and linkages for the development of the capital region.

The event also features technology demonstrations and supply-demand connections with over 120 booths showcasing science and technology products, innovative startups, OCOP products, and typical key products of Hanoi and localities in the Capital Region (including Vinh Phuc, Thai Nguyen, Bac Giang, Bac Ninh, Hung Yen, Hai Duong, Ha Nam, Hoa Binh, and Phu Tho).