Big step forward for Vietnamese startups in the international market

Monash University (Australia) has been honored to cooperate with the Ministry of Science and Technology of Vietnam and the Agency for Technology Entrepreneurship and Commercialization Development to co-organize Techfest International 2023. The event also marks the 50th anniversary of diplomatic relations between Vietnam and Australia, contributing to bringing Vietnamese innovative startups to the world.

Techfest 2023: Bước tiến lớn của start-up Việt trên thị trường quốc tế - Ảnh 1. — Monash University is proud to co-host Techfest International 2023 in Australia, marking the 50th anniversary of diplomatic relations between the two countries.

The event took place within the framework of a working trip of the Ministry of Science and Technology delegation led by Minister Huynh Thanh Dat, during a visit and work as well as attending the 2023 Global Entrepreneurship Congress held in Victoria, Australia.

Techfest International 2023 is the next big step for this development. This is an event to enhance the potential for the market and technology solutions of Vietnam and Australia, and at the same time towards cross-border cooperation. The event is a place to converge, introduce and connect science and technology products, innovation of organizations and individuals in Vietnam and Australia, encourage research, development, innovation and strengthen diplomatic relations between the two countries.

This is also a special opportunity for Vietnamese startups to learn about the latest management processes, equipment, tools and technology research in Australia. Techfest International 2023 is also a platform for Australian companies and venture capitalists to establish scholarship funds or investment funds for new technologies from Vietnam.

On Monash University's side, Interim President and Vice-Chancellor, Professor Susan Elliott AM said: "Monash University is very proud and delighted to be a partner with the Vietnamese Ministry of Science and Technology and Science and Technology Enterprises to organize Techfest International 2023".

In the presentation on the innovative startup ecosystem, Director Pham Hong Quat shared: "Vietnam ranks 48th out of 132 countries in the Global Innovation Index (GII), positioning our economy in the top 4 in Southeast Asia. Furthermore, Vietnam's startup ecosystem is ranked 54th globally and 10th in the Asia-Pacific region. These achievements are a testament to Vietnam's youth, dynamism and great potential in innovation and startups."

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