The journey of developing Vietnam's innovative startup ecosystem.
Over the past decade, Vietnam's innovative startup ecosystem has gradually formed, accumulated, and transformed through several important stages of development: from the "pre-startup" stage with the emergence of the first technology business models, to the emergence of technology unicorns and the involvement of the entire political system from the central to local levels.
Currently, the country has nearly 4,000 innovative startups and 2 technology unicorns; Vietnam's Global Innovation Index (GII) 2025 is ranked 44th out of 139 countries, and its innovative startup ecosystem index ranks 55th out of 100 countries.
Vietnam's major cities have entered the top 1000 global startup cities, with Hanoi ranking 148th, Ho Chi Minh City 110th, and Da Nang 766th, thereby connecting domestic resources with regional and international ones; propelling Vietnam into the top 3 fastest-growing startup ecosystems and ranking 5th in the ASEAN region.
However, venture capital investment remains low, the culture of entrepreneurship and innovation has not yet spread widely, and innovative entrepreneurship has not become a consistent driving force throughout the entire population and society.
International experience shows that each country has its own philosophy and development model for its innovative startup ecosystem, closely dependent on its stage of development and specific geopolitical conditions.
Vietnam also needs to clearly define its own model for developing a creative startup ecosystem to optimize resources, leverage competitive advantages, and create momentum for sustainable socio -economic growth in the digital age. Accordingly, Vietnam's national model for creative startups should involve spreading a culture and spirit of innovation widely throughout the entire population and society, across all industries and sectors; using science, technology, innovation, and digital transformation as the environment and tools for startups, as breakthroughs and competitive advantages.
Prime Minister Pham Minh Chinh, Minister of Science and Technology Nguyen Manh Hung, and other delegates visited and listened to a presentation about a new technological product.
Spreading the spirit of innovative entrepreneurship throughout the nation.
At the 2025 National Innovation Day, General Secretary To Lam directed: "Unify understanding and action: Consider innovation as the cause of the entire people; build a culture of innovation for the entire people." "Encourage creative entrepreneurship for the entire people; accept risks, be tolerant of failure; integrate internationally, develop global markets." This is a powerful call to action, inspiring and spreading a culture of entrepreneurship and innovation throughout society, while opening a new phase of development for the national creative entrepreneurship ecosystem with a long-term vision and the ability to integrate deeply into regional and global markets.
Nationwide entrepreneurship based on innovation is not just about creating jobs and earning a living, but about solving personal, market, and societal problems through new methods and new thinking, creating new products and services, with innovation as its core philosophy.
Through nationwide entrepreneurship, everyone has the opportunity to get rich and transform individual creativity into a driving force for national development; harnessing the intellectual and creative power of the entire population regardless of geography, location, or academic qualifications.
To achieve this, it is necessary to leverage the role of the entire political system, organizations, associations, and the whole population in building a culture of entrepreneurship; encouraging a spirit of dedication, daring to think, daring to act, and daring to accept risks for the aspiration of contributing and legitimately enriching oneself. Unleashing all potential, mobilizing and effectively utilizing all resources, and creating the combined strength of the entire population are crucial for building an independent and self-reliant economy, coupled with proactive and positive international integration. In this context, the "one-person enterprise" model is proposed as a groundbreaking initiative.
Young people experience the technology being introduced at the Ho Hoan Kiem pedestrian street.
Developing a one-person business
Over the past period, millions of people have been engaging in business activities such as online sellers, livestream sellers, content creators, and technology freelancers, but due to the lack of legal status and appropriate legal entities, they have not been able to benefit from the corresponding policies and support from the State.
Currently, science, technology, innovation, and digital transformation will provide an environment and tools that allow any individual to easily and effectively operate functions previously handled by an entire business, from accounting, finance, and marketing to sales and customer service, through the use of digital platforms. The "one-person business" model will create a new resource for the development of the national economy. This is not only a new business model but also an opportunity to mobilize the entire population to participate in formal economic activities; promote the entrepreneurial spirit among all social strata; activate millions of micro-business models; remove barriers to capital and relationships, and create more opportunities for development.
Thus, entrepreneurship is not just a story for tech entrepreneurs, but a cause for the entire political system and every Vietnamese citizen in the new era.
In accordance with the conclusions of the Politburo, The Ministry of Science and Technology is urgently developing and submitting to the Government a Resolution approving the National Strategy on Innovative Startups, which includes ambitious goals to propel Vietnam forward rapidly, strongly, and sustainably, such as having 5 million business entities by 2030, including 1 million "one-person businesses" and 10,000 innovative startups; forming a network of at least 300 innovation points, centers, and clusters nationwide; ranking among the top 40 countries in the Global Innovation Index (GII); having at least 5 innovative startups valued at $1 billion or more; and achieving a venture capital market size of $3 billion.
These goals also affirm a fundamental shift in development thinking: viewing innovative entrepreneurship as a long-term national strategy and a cause for the entire population; considering science, technology, innovation, and digital transformation as breakthrough pillars, core competitive advantages, and opportunities for Vietnam to make breakthroughs in the new development phase.
Innovation must become a genuine driving force for development.
Techfest Vietnam 2025 takes place at a particularly significant time, as the entire country prepares to summarize a year of vigorous implementation of Resolution No. 57 of the Politburo on breakthroughs in the development of science, technology, innovation, and national digital transformation, in which innovative startups are identified as an important component in the country's development orientation in the new era. The event is also a practical activity to celebrate the 14th National Congress of the Communist Party of Vietnam.
Techfest Vietnam 2025 will be implemented using an open-space model instead of the traditional method, creating conditions for people to directly access and experience new technology products and modern business models, thereby strongly spreading the spirit of innovative entrepreneurship and contributing to promoting the process of building Vietnam into an innovative startup nation.
Nationwide Creative Entrepreneurship – The Main Driving Force for Growth is a call to action for each of us: Let's start with a small idea, a small change in our own work. Let's dare to think, dare to act, dare to innovate. Each citizen engaging in creative entrepreneurship for their own future will collectively contribute to the future of Vietnam – a nation of creative entrepreneurship, rapid and sustainable development, and a powerful nation rising in the new era of innovation and digital transformation.
Source: https://mst.gov.vn/khoi-nghiep-sang-tao-toan-dan-dong-luc-tang-truong-moi-197251213223558068.htm
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