Innovative Startups - Welcoming the Year of the Horse 2026 with the aspiration for breakthroughs.

(Chinhphu.vn) - Amidst the vibrant atmosphere of the Lunar New Year of the Horse 2026, as the earth and sky enter a new cycle, Vietnam's innovative startup community is also undergoing a strong transformation with the aspiration to break through in the digital age.

The Prime Minister visits several booths showcasing innovative startups at TECHFEST Vietnam 2025 - Photo: VGP

From the consistent policies of the Party and the State to the synchronized involvement of ministries, sectors, and localities, innovative startups are increasingly affirming their role as a new growth engine for the economy .

The ecosystem is becoming increasingly mature.

In recent years, Vietnam's innovation and startup ecosystem has seen significant progress in both quantity and quality. According to the Ministry of Science and Technology , there are currently more than 4,000 innovative startups nationwide, over 200 supporting intermediary organizations, and hundreds of domestic and foreign venture capital funds in operation. Many innovation centers and co-working spaces have been established, creating a favorable environment for startups to thrive.

Vietnam continues to maintain its position among ASEAN countries with dynamic startup ecosystems. On the Global Innovation Index (GII), Vietnam ranks 44th out of 132 countries and is among the nine middle-income countries that have improved their rankings the fastest in the past decade. Its startup ecosystem index ranks 55th globally; its growth rate ranks 3rd in ASEAN and 5th in Southeast Asia.

Notably, Vietnam currently has two tech unicorns, along with more than 20 potential unicorns. Hanoi, Ho Chi Minh City, and Da Nang have been recognized as some of the world's most innovative cities. Many Vietnamese startups are expanding into regional and international markets, participating more deeply in global value chains, particularly in the fields of fintech, e-commerce, artificial intelligence, green technology, and digital transformation.

That picture is illustrated by exemplary success stories. MoMo, from a small startup, has grown into an electronic payment platform with tens of millions of users, contributing to promoting financial inclusion and cashless payments. VNG has built a diverse ecosystem of digital products ranging from online games and messaging platforms to cloud computing, demonstrating the capacity of a "Make in Vietnam" technology enterprise.

Many startups in high-tech agriculture, digital healthcare, online education, and other fields are also solving social problems using technology.

Innovation - an inevitable choice.

Global trends show that science, technology, and innovation are playing an increasingly crucial role in socio-economic development. Countries are increasing investment in research, technological development, and support for innovative businesses.

In Vietnam, Resolution No. 57-NQ/TW of the Politburo further affirms this orientation. In the context of setting double-digit growth targets for the coming period, Vietnam has "no other choice" than to pursue a development path based on science, technology, and innovation. This is a consistent orientation throughout national development strategies.

In this process, the innovative startup ecosystem is identified as a crucial component, playing a leading role in testing and disseminating new business models, technologies, and development methods for the entire economy.

However, alongside the positive results, Vietnam's startup ecosystem still faces numerous challenges.

According to Deputy Minister of Science and Technology Hoang Minh, global venture capital investment has sharply decreased from approximately US$600 billion in 2021 to US$350 billion in 2022 and is projected to be around US$300 billion in 2023-2024. Vietnam is also not immune to this trend, with venture capital investment declining from US$1.5 billion in 2021 to approximately US$500 million in recent years.

Nevertheless, capital flows still prioritize foundational technology sectors such as AI, biotechnology, and green technology. This indicates increasingly fierce competition among countries to attract capital, talent, and technology.

Domestically, many startups face limitations in accessing capital; they are small in scale; their management capabilities haven't kept pace with their growth; and the link between research and product commercialization isn't strong. The spirit of daring to think, daring to act, and daring to take risks needs to be more widely disseminated in society.

With a population of over 100 million, a young workforce, and increasing access to technology, Vietnam has many favorable conditions for innovation-based development and cannot miss this opportunity.

The Prime Minister visits several booths showcasing innovative startups.

At the National Innovation and Entrepreneurship Festival (TECHFEST Vietnam 2025) with the theme "Innovative Entrepreneurship for All – A New Driving Force for Growth," Prime Minister Pham Minh Chinh emphasized: "The State plays a facilitating role in development, affirming that Vietnam's aspiration for innovation is not just a slogan but a command from the heart, a thought from the mind, an action of entrepreneurship, and a driving force for development."

The Prime Minister also affirmed that developing domestic technological capabilities is the inevitable path to building an independent and self-reliant economy, linked to deep, substantive, and effective international integration. The innovative startup ecosystem is the foundation for ensuring technological self-reliance and nationwide innovation, and is the key to unlocking the country's enormous potential.

People, especially the younger generation, need to strongly promote the entrepreneurial spirit, dare to think, dare to act, dare to accept risks, share in failures, and form a culture of innovation throughout society, proactively equipping themselves with knowledge and skills in digital technology and innovation.

The message from TECHFEST 2025 reflects the Government's determination to improve institutions, develop digital infrastructure, train high-quality human resources, and unlock resources for innovation.

The Ministry of Science and Technology – the focal agency for developing the national innovation and startup ecosystem – has implemented numerous programs and projects to support businesses in recent times.

The Ministry has promoted investment networking activities through the National Innovation Startup Festival (TECHFEST), supported the formation of a network of experts and mentors; built a favorable legal framework for innovation startup investment funds; and promoted linkages between research institutes, universities, and businesses.

In particular, many localities have proactively developed their own startup ecosystem development plans, creating a strong ripple effect from the central government to the grassroots level.

According to Minister of Science and Technology Nguyen Manh Hung, innovation is only sustainable when capital flows freely. In this case, the role of the State is to create mechanisms and provide initial impetus.

Accordingly, Vietnam is focusing on perfecting the legal framework so that private capital, venture capital, and international capital can flow into the ecosystem in a transparent and controlled manner. The Law on Science, Technology, and Innovation has laid the foundation for the formation of a national venture capital fund and local funds using state budgets.

Vietnam has also identified 11 strategic technology groups such as artificial intelligence, semiconductors, digital technology, green technology, etc., in order to guide investment flows into sectors that are significant for self-reliance, self-sufficiency, and long-term competitive advantages.

Deputy Minister Hoang Minh stated that the establishment of a national venture capital fund clearly conveys the government's message: The state not only provides support through policies but also directly participates in the startup ecosystem.

In addition, the possibility of establishing a specialized stock exchange for innovative startups is being studied, creating a transparent and efficient divestment channel.

In particular, the "one-person business" model is expected to boost the nationwide entrepreneurship movement. The Ministry of Science and Technology aims to establish one million "one-person businesses," leveraging digital platforms to enable individuals to register, manage, and operate businesses transparently and flexibly.

The spirit of "nationwide entrepreneurship" opens up opportunities for all citizens to participate in the digital economy, not just limited to technology startups.

Spring is a symbol of new beginnings and hope. In every idea today, there is the potential to create businesses that will lead the future; in every ambitious young person, there is the potential to emerge new success stories.

Therefore, innovative entrepreneurship is not just a journey for businesses, but a journey for the entire nation – on the path to building an independent, self-reliant, innovative, and prosperous economy in the digital age, aiming to become a developed, high-income country.

Thu Giang

Source: https://baochinhphu.vn/khoi-nghiep-doi-moi-sang-tao-don-xuan-binh-ngo-2026-voi-khat-vong-but-pha-102260212142346609.htm