Vietnam wants to have a 'unicorn', needs to refer to India's way of doing things

An expert in analyzing India's training model, who has been involved in startups for 15 years, has given birth to 7 Unicorns in the industry, with similarities to Vietnam.

Overview of the discussion session on Startup Incubation - Innovation in the field of data technology, within the framework of the Science, Technology, Innovation and Digital Transformation Forum of Hung Yen province in 2025 - Photo: HOANG ANH

Data industry startups reduce failure rate thanks to “incubators”

According to Ms. Nguyen Thi Ngoc Dung - Chief of Office of the National Data Association, the Startup Incubator plays an important role in supporting data industry startups in the early stages of model development.

“According to research, startups that go through incubation programs reduce their failure rate by up to 75%. Incubation programs help startups meet with consultants, receive training in fundraising skills and develop products to bring to market,” Ms. Nguyen Thi Ngoc Dung emphasized.

The above sharing was announced by the Chief of Office of the National Data Association at the Science, Technology, Innovation and Digital Transformation Forum of Hung Yen province in 2025, jointly organized by the People's Committee of Hung Yen province and the National Data Association on the afternoon of October 29.

At the discussion session, Ms. Nguyen Thi Ngoc Dung shared that to develop the data industry, it is necessary to have "incubation" programs. Here, with a global advisory network and acceleration program, the incubator model helps accelerate product commercialization, reduce startup risks, and promote sustainable business growth.

This model is particularly suitable for Vietnam in its strategy to develop the data industry and digital economy , when creating a favorable environment for innovation based on data and AI technology.

Ms. Nguyen Thi Ngoc Dung - Chief of Office of the National Data Association - Photo: HOANG ANH

Unicorns (startups valued at over $1 billion) are not born from “ambitious” talk, but from properly designed incubation programs that solve real national problems.

Ms. Dung cited the training model of India, which has participated in startups in the data industry for the past 15 years and has similarities with Vietnam. India requires startups to solve specific problems of the country, and over the past 15 years, the country has had 7 Unicorns in the industry.

Vietnam has the "3-pronged" advantage

Sharing the same view, Mr. Luong Cong Danh - Head of Technology Incubator, National Data Association, Vietnamese technology expert in the United States - said that Vietnam is in the "3-pronged" advantage to help the country grow spectacularly in the next 10 years.

Mr. Danh analyzed that Vietnam is in a great period, the time when AI gives us a starting point equal to other countries in the world. Resolution 57 helps us overcome barriers and have a long-term investment mindset. Finally, talent. Vietnamese experts who have been accessing the world's advanced technologies such as AI, cloud technology, and have worked in the industry for many years will help the country develop spectacularly.

From the perspective of the local government, Mr. Nguyen Xuan Hai - Deputy Director of the Department of Science and Technology of Hung Yen province - said that in the coming time, policies will be developed to support "incubators". In the first phase, the province will provide initial knowledge, disseminate, and coordinate with schools to conduct discussion sessions on innovative startups.

"In phase 2, we want to design policies for initial investment steps on incubation, in conjunction with universities in the province to implement the model. Hung Yen province will build a support fund, including a support fund for "incubators", along with building a network for startups," he said.

In the province's innovation ecosystem project from 2025-2030, with a vision to 2045, the startup ecosystem now has policies and needs a "support platform". Hung Yen's innovation system network is connected to the country and the world, this is a point that needs to be promoted.

In addition to being supported with the right orientation, startups will also be supported in implementing intellectual property and have a healthy, highly competitive development environment.

Back to topic

Filial piety

Source: https://tuoitre.vn/viet-nam-muon-co-ky-lan-can-tham-khao-cach-lam-cua-an-do-20251029194546035.htm