On March 28, in Hanoi, the Executive Board of the Project "Supporting the national innovation startup ecosystem until 3" (referred to as Project 2025), Ministry of Science and Technology (MOST) held a plenary meeting to evaluate the achieved results of the 844 Project, approve the 2023 work plan and orient the Project's work plan for the following years.
60/63 provinces and cities issued decisions to implement Project 844
Reporting the results of the Project, Mr. Pham Dung Nam, Director of Project 844 Office, said: 2023 marks many changes in the macroeconomic environment in general and the creative startup ecosystem. (KNST) in particular in Vietnam.
The period 2022 - 2023 is a difficult period worldwide, associated with post-Covid-19 economic recovery efforts, Vietnam's creative startup ecosystem continues to be promoted with many construction activities. develop policies, connect and attract international resources, and develop creative startups in industries, fields, and localities.
In 2023, although still maintaining a ranking in the top 60, Vietnam has dropped 4 places in the global startup ecosystem rankings (StartupBlink), ranking 58/100 compared to 54/100 in 2022. However, Vietnam still maintains the same ranking in the Asia-Pacific region as well as the Southeast Asia region.
Vietnam has increased its ranking by 2 places on the GII Global Innovation Index, ranking 46/132. With this ranking, Vietnam is maintaining the 2nd position in the group of lower middle income countries, just behind India. In the ASEAN region, Vietnam ranked behind Singapore (ranked 5th), Malaysia (ranked 36th) and Thailand (ranked 43rd).
According to WIPO, Vietnam is one of the 7 middle-income countries that have achieved the most progress in innovation over the past decade, and is also one of the 3 countries that hold records of surpassing achievements. outperformed the level of development for 13 consecutive years.
Currently, across the country, many units to support eco-activities have been formed from the private sector, public sector and even international organizations, under many diverse models. Up to now, 60/63 provinces and cities have issued decisions approving plans to implement Project 844 locally; About 20 localities have been forming innovation start-up support centers; 84 incubators and 35 business accelerators are operating nationwide. In the past year, many international creative innovation support centers have opened branches or coordinated to open innovation spaces in Vietnam, typically the appearance of "Innovation Startup Space" "Creating Da Nang - Seoul" in Da Nang, or the K-Startup Center under the Korean Agency for Supporting Small and Medium Enterprises (KOSME) in Hanoi...
There are currently 208 venture capital funds operating and investing in Vietnamese startups, including nearly 40 domestic investment funds. The number of angel investors, although not too large, is gradually increasing. Currently, there are 3 large organizations operating most actively including: Vietnam Silicon Valley Accelerator, CLAS ExparaVietnam Accelerator and Vietnam Startup Acceleration Fund.
However, the capital investment aspect for Science and Technology Innovation activities in Vietnam has not yet improved, the level of investment in Research and Development (R&D) activities is still low and tends to decline. decreased in recent times. Enhancing the capacity of subjects of the national creative startup ecosystem is a central goal and urgent need in the early stages of implementing startup support projects of the Ministry of Science and Technology as well as other ministries and branches. , local.
In order to continue implementing tasks and remove existing difficulties in the creative startup ecosystem, Mr. Pham Dung Nam said that the Executive Board of Project 844 will continue to perfect the legal corridor, policy mechanisms; Strengthen coordination mechanisms between ministries, departments, branches and localities from central level to specific implementation level to unify orientation and share appropriate resources for the creative startup ecosystem. Continue to strengthen coordination, facilitate and attract resources in terms of capital, finance, infrastructure, experts from both the public sector, private sector and the force of Vietnamese experts abroad for startups. creative industry.
At the same time, promote the implementation of investment connection activities, attracting investment resources from individuals, organizations, domestic and international venture capital funds, especially Vietnamese investment funds. , foreign investment funds operating in Vietnam.
There are special preferential policies for large, core organizations
Speaking at the meeting, Deputy Minister of Science and Technology Hoang Minh said: Through the assessment of activities in 2023, startup ecosystems thrive, basic elements have been formed. However, there are two major problems: the formation and management of organizations and policy mechanisms to promote innovative startups are still problematic. There are no regulations on support for creative start-up organizations; Localities that have not yet been able to use the facilities and put them into operation...
Besides, in recent times, we have introduced many concepts about creative startups and innovation... Using concepts incorrectly sometimes causes misunderstandings and confusion in management. especially in building information and policies...
According to the Deputy Minister, building a legal corridor for innovative startups is very important. Based on the proposal of the Department of Market Development and Science and Technology Enterprises, it is necessary to organize an evaluation of Project 844 and urgently develop a Government decree to remove obstacles in the entire system. including special preferential policies for large organizations and core organizations.
Mr. Pham Hong Quat, Director of the Department of Science and Technology Enterprise and Market Development, proposed completing the legal corridor to have a common overall mechanism to avoid having a specific mechanism but lacking a specific mechanism. overall mechanism for innovative startups.
At the meeting, experts also said that currently, across the country, many innovative start-up support units from the private sector, public sector and international organizations have been formed, with many models. different activities. Programs and projects to support startups signed and promulgated by the Prime Minister and assigned to ministries, branches, localities, and socio-political organizations (Project 844, Project to support women's startups - Project 939, Project to support students to start a business - Project 1665, Project to support young people to start a business...) is actively implemented, coordinated and linked together to achieve the goal. Overall, building a creative startup ecosystem with sustainable and comprehensive development.
In the next stage, to develop and implement effective support policies, completing the legal corridor, especially aiming to clarify the content of innovation, creative startups, and promulgate regulations Regulations on the type of organization, functions and tasks as well as related activities are priorities in terms of policy.
The Executive Board of Project 844 also discussed and proposed key incentive and preferential policies to promptly remove difficulties and obstacles of innovative organizations and creative start-up organizations. at ministries, branches, localities, educational and training institutions, socio-political organizations, businesses and corporations in a comprehensive, synchronous and unified manner. Especially mechanisms and policies to attract venture capital, unlock available financial resources from domestic and foreign sources, promote open innovation, and develop ecosystems of industries. , field; Specific financial mechanisms for training and incubation activities for creative startups./.
