Unlike traditional innovation centers that lacked mechanisms for creating value from the very beginning of operation, the CT Innovation Hub 4.0 model of CT Group, currently operating at 20 Truong Dinh Street, District 3 (formerly), Ho Chi Minh City, is designed as a comprehensive innovation operating system where passion is activated, talent is connected, and ideas are transformed into real value.
This idea stems from the reality of young entrepreneurs in Vietnam, where the majority of fledgling projects face risks from the very beginning and most fail before even reaching the real market. Alarming figures show that the failure rate of startups reaches 70%, leading to consequences such as families losing assets and young people giving up prematurely. This indicates that the current ecosystem lacks a robust model to protect young people from unnecessary losses while simultaneously guiding them towards creating real value.
Against this backdrop, CT Group recognized the need for an innovative model capable of mitigating risks from the outset, while simultaneously enabling young people to access the real market in a safer environment.
"This is an interesting problem, and we really enjoy solving it. The model we are implementing could help reduce the failure rate of startups," said Tran Kim Chung, Chairman of CT Group.
In Finland, private innovation centers provide problems while also directly receiving problems from businesses, incorporating them into entrepreneurship training and research programs, thereby creating highly applicable solutions. This approach has helped Finland continuously transition to a high-tech economy . Meanwhile, in Israel – dubbed the "cradle of startups" – a mechanism for extremely rapid commercialization has been created through the "Fund of Funds" model, where problems are provided by businesses, guaranteed by the government, and solved by universities.
CT Group operates this model with a new mechanism connecting supply and demand through a series of high-tech solutions: solving real problems – creating real value – generating real profits, with the key point being the ability to turn the entire innovation process into a profitable one. The formula for generating profit in this Innovation Center model is based on three core technologies: Web3, Blockchain, and AI.
In practice, this model offers clear benefits to all three parties: young people can start businesses more safely by directly accessing real-world problems and reducing financial risks through rapid commercialization; businesses gain a powerful source of innovation, where talented teams continuously provide optimal solutions to processes, improve productivity, and develop products with lower R&D costs; and society benefits from a profitable, self-operating, and scalable innovation infrastructure, thereby promoting the knowledge economy, digital transformation, and the formation of an internationally competitive startup ecosystem. This structure has proven effective in many countries and is being adapted to create long-term impact in Vietnam.
Currently, the model has its first franchisee in Hanoi , and several other domestic and international entities are also interested in implementing and expanding the model in their respective regions. The proactive choice by regulatory agencies to franchise in their areas demonstrates the persuasive power of an innovative, profitable model operating with core technology and capable of generating immediate economic value.
This model was highly appreciated when city leaders and the business community discussed the question posed by Ho Chi Minh City Party Secretary Tran Luu Quang: "What needs to be done to make Ho Chi Minh City a center for startups and innovation?" and "How to start, what are the priorities, and where are the resources?" at the event "City Leaders Meet with the Science, Technology, and Startup Community," held on December 9th. If the model is implemented, it could become a powerful catalyst for the city's innovation ecosystem. With its large business scale, strong demand for digital transformation, and abundant young workforce, Ho Chi Minh City... Ho Chi Minh City is the ideal environment for this model to be most effective: creating numerous solutions to socio-economic problems, promoting the commercialization of technology, fostering a generation of startups with international competitiveness, and most importantly, transforming innovation into a real economic resource, directly contributing to the city's growth in the coming years.
Source: https://daibieunhandan.vn/mo-hinh-doi-moi-sang-tao-nao-se-thay-doi-cuc-dien-khoi-nghiep-tai-viet-nam-10400053.html
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