Connecting Startup Investments at Open Innovation Day 2023

Ho Chi Minh City Domestic startups seek opportunities for cooperation and technology transfer from investors from Korea, Singapore, the US, etc. at Open Innovation Day 2023.

On the morning of October 25, Open Innovation Day 2023 opened in Ho Chi Minh City, attracting the attention of representatives of state agencies, institutes, investment funds, startup support organizations, domestic and international enterprises... The event was organized by the Department of Market Development and Science and Technology Enterprises (Ministry of Science and Technology) in coordination with partners according to the global open innovation model to connect technology supply and demand, promote the national and local innovation and startup ecosystem to connect with the international one.

Speaking at the event, Mr. Pham Hong Quat, Director of the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC), said that through the activities at the event, the startup community would be updated with international trends in green transformation, digital transformation, as well as opportunities and challenges for young people. The Open Innovation Day is also a place for the startup community to seek support, connect with large corporations to come up with new solutions to address climate change, sustainable development, and apply blockchain technology and artificial intelligence to production and service activities.

Mr. Pham Hong Quat, Director of the Department of Market Development and Science and Technology Enterprises, spoke at the event. Photo: Ha An — Mr. Pham Hong Quat spoke at the event. Photo: *Ha An*

Regarding international cooperation opportunities, Mr. Quat said that many foreign organizations and businessmen assessed that Vietnam is facing great opportunities when many foreign corporations consider this as an investment destination in the production of globally important industries. Therefore, the startup community really needs support to connect with international organizations, taking advantage of opportunities to break through and apply new technologies and innovate. He hopes that local leaders, incubators, training facilities... will exploit as much as possible at this event, connecting businesses and investing for green and sustainable growth.

From an investor's perspective, Mr. Sungsup Ra, Deputy General Director of the Asian Development Bank (ADB), highly appreciated Vietnam for its many policies to promote startups and develop an innovation ecosystem over the years. This also creates conditions for large corporations to diversify in developing technology fields from connecting and cooperating with startups. He believes that digital transformation, green transformation and innovation with a big vision are good solutions for the development of Vietnamese enterprises, in line with the general global trend. ADB leaders are committed to supporting startups in the fields of digital transformation, green transformation, and development based on innovation. He hopes that Vietnam will have orientations for developing open innovation activities that connect openly with ecosystems around the world.

Businesses introduce technology at the event. Photo: Ha An — Businesses introduce technology at the event. Photo: *Ha An*

According to Ms. Nguyen Cam Phuong, General Director of SaigonTel, the green growth trend will help Vietnam change positively in the next 10-20 years. Therefore, the company has coordinated with partners to build a green growth alliance with the participation of many large enterprises to invest in developing infrastructure for domestic industrial parks that do not emit carbon.

In addition, according to Ms. Phuong, some provinces are supported by the unit to develop plans to reduce carbon in economic and social development activities through electric vehicle sponsorship projects. She believes that this will help businesses and localities participate in the carbon credit market in the future.

During the two-day event (October 25-26), domestic and international experts shared about digital transformation trends, green transformation and sustainable development in the fields of finance - banking, logistics, e-commerce, marine economy, agriculture, food technology...

Ha An

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