Associate Professor Phan Thi Ha Duong, Executive Director of VINIF Foundation, presented a summary of the fund's activities over the past 5 years.
VINIF "paves the way"
Currently, Vietnam's budget for science and technology is still low, only about 0.53% of Gross Domestic Product (GDP), much lower than that of developed countries in the region. The ratio of people doing R&D compared to other countries is also low. Equipment supporting scientific research is still lacking.
According to former Minister of Science and Technology Nguyen Quan, in the world, besides direct investment from the Government through the central budget or national funds, the activities of private funds and non-profit funds such as the Bill & Melinda Gates Foundation, Simons Foundation, Ford Foundation... of the US have been playing an important role in meeting the urgent requirements of the fields of science, technology and innovation.
Professor Vu Ha Van, Scientific Director of Vingroup Innovation Foundation (VINIF), said that in developed countries, cooperation between businesses and academia is very important for the development of society. However, in Vietnam, private businesses funding scientific research is still not common.
Inspired by private funds around the world, VINIF Fund established by Vingroup is the first private fund in Vietnam with a budget of thousands of billions of VND to fund completely non-profit scientific research and innovation activities to create positive changes, "paving the way" in attracting private resources for scientific research. Established in 2018, after 5 years of operation, VINIF Fund has contributed to creating a new culture of research and development in Vietnam; funding the fields of science and technology, engineering, medicine, economics, education, culture and history.
According to Professor Vu Ha Van, VINIF sponsors many projects that are beneficial to society, thereby hoping that scientists will have the opportunity to devote themselves. The Fund has a flexible mechanism, simple procedures, scientists have the resources to purchase necessary equipment and machinery, receive appropriate remuneration and fully focus on research, realizing ideas and bringing research results to the world. Young scientists also have the opportunity to participate in projects to develop and accumulate experience. VINIF also creates conditions to help scientists register invention patents abroad to make a mark on Vietnamese science.
Improve research quality, create human resources
In addition to investing capital for scientists, VINIF also organizes many seminars on various skills, with the desire to help scientists equip themselves with more knowledge necessary for commercializing research products. If scientists wish to register research copyrights abroad, the fund also invests additional consulting fees for inventions and patents.
Following this approach, after 5 years, 7 programs have been implemented, with a total funding of nearly 800 billion VND for sponsorship activities, supporting more than 2,500 scientists. Thousands of works have been published in prestigious international journals, nearly 400 products, over 70 inventions, nearly 20 start-up and spin-off businesses (a form of commercialization of intellectual property rights) have been formed.
Associate Professor Dr. Le Chi Hieu (University of Greenwich, UK) said that VINIF has affirmed its important position, made great contributions to science, technology and innovation in Vietnam, and gradually built up its reputation internationally. The fund's scholarship and postgraduate training cooperation programs have truly nurtured and contributed positively to creating human resources and a network of science and technology experts that are very necessary for Vietnam, especially in the coming years, when competition in science and technology becomes increasingly fierce.
Deputy Minister of Science and Technology Bui The Duy assessed that the emergence of science funding funds such as VINIF is a positive signal for the development of the research environment in Vietnam. “This is an inevitable trend, following the direction that the Government is promoting, bringing about remarkable impacts and contributing to changing the style of scientific and technological research. Adding private resources to invest in science and technology with the State contributes to creating changes and breakthroughs for Vietnam in this field,” Deputy Minister Bui The Duy emphasized.
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