Ha Noi strengthens support for startup & innovation

30/07/2020

VGP – With the development of a startup and innovation ecosystem identified as one of the key tasks amid the strong boom of the Fourth Industrial Revolution, the Ha Noi People’s Committee has issued a project to support startup and innovation in the city during 2019-2025, towards building Ha Noi into a major startup and innovation center of the country.

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Accordingly, Ha Noi has implemented many breakthrough mechanisms and policies to assist and develop a startup and innovation ecosystem, targeting to support the development of 500 startup and innovation initiatives and help 150 businesses commercialize their products by 2025. 

In addition, at least 20% of those enterprises will be assisted to successfully call for capital from ventures and carry out merger and acquisition deals valued at VND500 billion (21.57 million).

According to Le Van Quan, director of the municipal center for SME development support, to show its role in connecting domestic and international resources, promoting startup activities and leading the startup and innovation ecosystem in the city, Ha Noi has been going ahead with the plan to establish a startup and innovation center. 

In the immediate future, the city will support the formation of 3-5 business incubators and common startup spaces to support startup and innovation activities.

In order to concretize the contents of the project and the city’s startup and innovation support policies to beneficiaries, in recent times the Ha Noi Department of Science and Technology has organized a number of meetings to consult with experts and the startup and innovation community to promptly develop a detailed implementation plan.

Vice Chairman of the municipal People’s Committee Nguyen Doan Toan affirmed that the city had drastically directed its departments, branches and localities to create maximum conditions for startup and innovation businesses in performing procedures concerning establishment registration, investment and capital contribution, while allocating the budget capital for the implementation of the project. 

In particular, special attention has been paid to forming a startup and innovation ecosystem, considering this one of the municipal authorities’ key tasks aiming to support the business-starting efforts./.

By Vien Nhu