Prime Minister Pham Minh Chinh: Student startups are not commensurate with their potential

Prime Minister Pham Minh Chinh : 'Bold speed' to turn Vietnam into a center of innovation - Photo: VGP

On the morning of April 20, Prime Minister Pham Minh Chinh attended the opening ceremony of the 7th National Startup Day for students in 2025, taking place in Ho Chi Minh City.

Many positive results in innovation and startups

According to Prime Minister Pham Minh Chinh, the Politburo recently issued Resolution 57-NQ/TW on breakthroughs in science and technology development, innovation and national digital transformation.

An important solution stated in Resolution No. 57 is: "There must be a strong enough policy to encourage entrepreneurship in science, technology, innovation and digital transformation, along with policies to support startups and attract domestic and foreign businesses to start up in Vietnam."

In recent times, our country has achieved a number of positive results in the development of science and technology, innovation, including the role of startups. In 2024, Vietnam attracted 529 million USD in venture capital for creative startups.

The results of Project 1665 (Project to support students in starting a business until 2025 - PV) are not just numbers, but also beliefs, aspirations, confidence, self-reliance, self-reliance, and national pride for us to rise up, especially among students.

Startups are not commensurate with potential and competitive advantages

However, Prime Minister Pham Minh Chinh said that we need to face the truth, our startups are not commensurate with the unique potential, outstanding opportunities, and competitive advantages of Vietnamese youth.

It is not commensurate with the core values ​​of Vietnamese youth. That is, passionate patriotism, intelligence, creativity, diligence, hard work and perseverance. These core values ​​of Vietnamese youth have not been fully promoted in innovation and entrepreneurship.

"The achievements are very valuable, but we need to look back and see that our innovation and startups are not commensurate with the true, core values ​​of Vietnamese youth, so we need to try harder," Mr. Chinh noted.

In addition, the Prime Minister assessed that the startup festival is not only an annual event but also a place where every dream and aspiration to start a business of students, no matter how small, is guided, nurtured and given wings.

Prime Minister Pham Minh Chinh visits booths displaying startup products at the 7th National Startup Festival for students.

This is a place where young, ambitious intellectuals gather, where business education and policy are connected, where they spread and create an ecosystem and a space for sustainable startup development. It is also a place where businesses connect with students, with schools, and with youth organizations.

However, the Prime Minister raised the question: "Can startup products be sold and how much money can they make? Products must be quantifiable and bring real value. They are creative, but they must be produced, commercialized, and profitable in order to develop.

Therefore, the Prime Minister directed that it is necessary to pay attention to commercializing students’ start-up products. When researching a product, it must be produced and sold, so capital is needed. The State and banks must support the production of products and commercialization…

"Our students are very good, the problem is to create a movement, a trend for them to do. Students do not have money, they only have intelligence, ability and passion, so there needs to be a mechanism to help them. Starting a business is very important at the beginning, we need to support and create conditions for students by creating a policy mechanism on priorities.

"From this innovation and start-up, it brings benefits to them, to their families, to the people, to society. Only then can the innovation and start-up movement survive and contribute to the development of the country," Mr. Chinh emphasized.

Prime Minister Pham Minh Chinh awarded certificates of merit to individuals and groups with outstanding achievements in supporting students to start businesses - Photo: TRAN HUYNH

Start-up without limits with a fast, bold spirit

Talking to students, Prime Minister Pham Minh Chinh repeatedly emphasized: "The startup space is increasingly developing in all fields, students must be enthusiastic and creative. Startups have no limits, with the spirit of speed and boldness."

In that spirit, Prime Minister Pham Minh Chinh requested ministries, branches and localities, according to their functions and tasks, to continue to perfect policy mechanisms, especially in finance, intellectual property, and public-private partnership models, creating conditions and support for students to develop ideas and bring products to market.

The second is to develop funds to support student startups and socialized resources.

The third is to build an idea exchange, a network of startup advisors in localities and at schools.

For the Ministry of Education and Training, continue to coordinate with relevant ministries and branches to develop student startup support centers, creative spaces, incubators, accelerate startups in schools, and bring startups into mainstream teaching.

Develop modern laboratory classrooms, support research and product testing, encourage lecturers and students to participate in scientific research, apply science and technology right in schools and develop online training platforms and digital resources. Add topics on entrepreneurship and innovation to each school's curriculum, connect businesses and startup investment funds...

It is necessary to combine three parties (state, school, business), to strengthen the connection with students, in which businesses must actively place orders, invest and accompany students, support practice, and commercialize ideas, and together with schools inspire and motivate to lead the young generation to start businesses.

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TRAN HUYNH

Source: https://tuoitre.vn/thu-tuong-pham-minh-chinh-khoi-nghiep-cua-sinh-vien-chua-tuong-xung-voi-tiem-nang-20250420134903464.htm