Forming a system of innovation centers
At the Danang Innovation and Startup Festival 2025 (SURF 2025), Deputy Minister of Science and Technology Hoang Minh said that the Law on Science, Technology and Innovation, which was recently passed by the National Assembly on June 27, 2025, has officially placed innovation on par with scientific research and technology development; at the same time, it stipulates many strong and breakthrough policies to promote innovation and creative startups.
Deputy Minister of Science and Technology Hoang Minh visited booths displaying startup and innovation products at SURF 2025.
Notably, the State has increased the budget allocation for science and technology and innovation at no less than 2% of annual budget expenditure. For the first time, innovation has been defined as a separate content and allocated 1% of annual national budget expenditure. Currently, the Ministry of Science and Technology is urgently and actively coordinating with ministries, branches and localities to develop legal guidance documents and documents to be submitted to the National Assembly at the October 2025 session.
Accordingly, a system of innovation centers and innovation support centers will be established from the national, ministerial and local levels. Depending on their capacity, localities can establish both of these organizations to connect parties with technology and parties in need. These are intermediary organizations to solve the problem of the “valley of death” in Vietnam, that is, there are many research results and many technologies that cannot be put into practice.
The central government will establish innovation organizations; ministries and branches will form innovation centers; localities will transform public science and technology career organizations at the Departments of Science and Technology into innovation centers. Thereby, a network of innovation organizations will be formed nationwide, promoting the application and application of technology, and bringing research results into practice.
“This is a solution that has been written into the law and we are urgently implementing it. From October 1, the formation of these organizations will take effect. In particular, Da Nang was chosen to form a national innovation center to connect and provide technology solutions, support technology services for the business community, and people can quickly use the results of scientific and technological research and innovation,” said Deputy Minister Hoang Minh.
Venture capital fund
In particular, for the first time, Vietnam will establish a venture capital fund funded by the State. This fund will exist at the central and local levels. The State will put money into these funds, contribute capital to the funds and allow the funds (both at the local level) to hire domestic and foreign organizations and individuals to manage the funds.
State venture capital funds will accept risks according to the defined investment cycle, not calculating risks for each project and exempting responsibility during the implementation of risks in startup projects. It is expected that the Government and local venture capital funds will come into operation in 2025 to strengthen and supplement capital sources for startups.
For the first time, Vietnam will organize a professional stock market for innovative startups. Domestic and foreign investors will have the opportunity to participate in trading shares of innovative startups on the Vietnamese stock exchange. This is the first time Vietnamese startups have been IPO’d and also the first time Vietnam has officially entered the international startup market.
“Thus, Vietnamese startups will be listed and attract capital in a transparent and public manner. Domestic and foreign organizations and investors will also participate in transactions, increasing capital for Vietnamese startups in a transparent manner. Instead, up to now, no Vietnamese startup, even large ones like MoMo and Sky Mavis, has been IPO’d,” said Deputy Minister Hoang Minh.
Reorganize the National Technology Innovation Fund to lead and allow local Science, Technology and Innovation Development Funds to directly support enterprises in technological innovation. That is, these funds will support bank loan interest rates for enterprises to innovate technology, improve productivity; invest in copyright purchase, training, technology transfer, and increase machinery and equipment in enterprises' technology innovation investment projects.
It is expected that through these funds, the State will buy back the results of some research or new product results of organizations and enterprises. Thereby, supporting the market and enterprises to launch new products in the form of purchasing products or providing vouchers for organizations and individuals to use the services of start-up companies. This is the first measure implemented in Vietnam.
Commercialization of intellectual property
Deputy Minister Hoang Minh added that in October, the Ministry of Science and Technology will submit to the National Assembly for consideration amendments to the Law on Intellectual Property (IP) in the direction of enhancing the exploitation of IP, commercializing intellectual property and making IP and copyright assets that can be mortgaged and guaranteed so that businesses, especially startups, can mortgage their IP assets and receive guarantees.
Improve protection of intellectual property rights, especially exploitation rights, and shorten the time for registration and protection of rights in Vietnam. Expand to non-traditional assets such as intellectual property in digital assets, data, etc.
Along with that, the Ministry of Science and Technology will submit to the National Assembly an amendment to the Law on Technology Transfer, aiming to promote endogenous capacity; focusing on technology transfer activities between Vietnamese organizations and individuals. It is expected to submit to the National Assembly to promulgate levels of endogenous technology transfer, along with preferential policies for both the transferor and the recipient to encourage both sides to soon bring technology into life.
At the same time, technology markets, trading floors, valuation and intermediary organizations for technology valuation are established to create a favorable environment for determining technology transactions in the market. This is also a breakthrough solution to promote technology application and bring technology into production and business.
In addition, the Ministry of Science and Technology is currently submitting to the Politburo a National Startup Project to arouse national pride, encourage the desire to get rich, spread the culture of innovation among the people, encourage daring to think, daring to do, daring to invest in risky ventures to create breakthroughs for the business environment and economic growth.
For the first time, technology will be turned into a service for a startup. Proposing the formation of a “one-person enterprise” model, using technology and digital transformation to turn it into services to replace the enterprise’s apparatus. An individual can form and operate an enterprise on a digital platform to replace the accounting and office apparatus…
“Thus, many individual households will switch to business registration. At the same time, administrative procedures will be reduced towards one day - one door and one file for all types of activities. The above breakthroughs in institutional and policy building will create a favorable legal corridor to turn thinking into resources and turn actions into values,” said Deputy Minister Hoang Minh.
Hai Chau
Source: https://doanhnghiepvn.vn/cong-nghe/sap-trinh-quoc-hoi-loat-chinh-sach-dac-biet-ve-khoi-nghiep-doi-moi-sang-tao/20250731072149330
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