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Comleting startup support policies

TQO - Faced with the negative impacts of the general world economic context, the Government has recently promoted many activities to promote innovation in many localities as well as specialized sectors and fields.

Notably, the "Strategy for Science, Technology and Innovation Development to 2030" has been implemented. The Government has actively proposed and implemented projects to enhance national innovation capacity, such as applying the Local Innovation Index (PII); amending and supplementing the Law on Intellectual Property to remove obstacles in the commercialization of intellectual property.

Programs and projects to support startups signed and issued by the Prime Minister, assigned to ministries, branches, localities, and socio-political organizations (Project 844 to support women in startups; Project 939 to support students in startups; Project 1665 to support youth in startups) are actively implemented, with coordination and linkage with each other towards the common goal of building a sustainable and comprehensive creative startup ecosystem. The Vietnamese creative startup ecosystem has now been formed and includes all important components: individuals, creative startup organizations, angel investors, venture capital funds, support organizations, universities, networks of coaches, consultants, creative startup research support facilities at universities, research institutes, etc.

However, according to experts, the ecosystem still needs to further promote close connections with the business sector, corporations and the educational sector of institutes and schools. Therefore, there needs to be policies to promote coordination in exploiting and optimizing resources of sectors and levels to participate in building a national innovation system and creative startup ecosystem.

Therefore, the Ministry of Science and Technology is proposing that the Prime Minister allow the development of a Decree on innovation and innovative startups to remove obstacles as well as perfect the legal corridor to have a comprehensive and common mechanism, promoting coordination in exploiting and optimizing resources of sectors and levels (including central and local state budgets, international resources, business resources, social resources) to participate in building a national innovation system and innovative startup ecosystem.

Phuong Dong

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