Many incentives, transparency, creating better connections... are new points in the investment incentive policy for innovative startups of Ho Chi Minh City.
Many special offers
The Department of Science and Technology of Ho Chi Minh City has just organized a conference on "Implementing policies to support innovation and creative start-up projects in Ho Chi Minh City" to promote sustainable and stronger development for the city's creative start-up ecosystem on the basis of supporting innovation projects.
At the conference, the Department of Science and Technology announced the support funding levels corresponding to the stages of the innovation and creative startup project, including 3 stages: incubation is 40 million VND/project (no more than 6 months, of which labor costs are 10 million VND, other costs are 30 million VND); incubation is 80 million VND/project (no more than 12 months, of which labor costs are 30 million VND, other costs are 50 million VND); acceleration is 400 million VND/project (no more than 12 months, of which labor costs are 150 million VND, other costs are 250 million VND). In addition, there are other specific incentive policies, depending on each project.
According to Ms. Phan Thi Quy Truc, Deputy Head of the Department of Technology Management and Technology Market (Department of Science and Technology of Ho Chi Minh City), on November 11, 2023, at the 12th session, the People's Council of Ho Chi Minh City, term X, passed Resolution No. 20/NQ/HDND on Regulations on priority areas, criteria, conditions, contents and support levels for innovation and creative startups projects in Ho Chi Minh City. The subjects of this resolution include individuals, groups of individuals, enterprises with innovation and creative startups projects in priority areas of Ho Chi Minh City and other organizations and individuals in the following areas: e-commerce, financial technology, logistics, educational technology, healthcare and health care, high-tech agriculture, sustainable development, digital transformation, cyber security... These are also priority areas in innovation and creative startups in Ho Chi Minh City.
According to the Department of Science and Technology, the criteria for selecting innovative and creative startup projects in 2024 include: creativity, organizational capacity, economic efficiency or social impact, potential market, business model... These criteria will be considered for appropriate application in each stage of the project...
“In 2024, the registration of innovative startup projects will also be implemented more specifically than before. All registration activities, support for pre-incubation projects, accelerated incubation projects, etc. must be updated with information and results on the Ho Chi Minh City Open Innovation Online Platform (H.OIP). This is a tool to connect components in the innovation ecosystem, strengthen connections between startups and organizations to share knowledge, solve problems, and provide technology transfer consulting,” Ms. Phan Thi Quy Truc shared.
Expect to exceed target by 10% - 20%
According to the implementation plan of the Project to Support the Development of the Innovative Startup Ecosystem in Ho Chi Minh City for the period 2021-2025, in 2024, the city aims to improve the innovation capacity of 900 enterprises; incubate and develop 300 innovative startup projects... In which, focusing on developing infrastructure and services to support the innovative startup ecosystem, forming a network of innovative startup centers.
In Ho Chi Minh City, the Department of Science and Technology is the leading unit supporting innovative startups to develop products and markets; supporting small and medium enterprises to improve productivity, quality and innovation; promoting innovation activities in the public sector...
With Plan 433/KH-UBND implementing policies to support innovation and creative startups in the 2024-2028 period, the city also aims to support more than 1,000 innovation and creative startups in the pre-incubation stage by 2028; more than 700 projects in the incubation stage and more than 200 projects in the acceleration stage to reach venture capitalists...
Mr. Nguyen Viet Dung, Director of the Department of Science and Technology of Ho Chi Minh City, shared that in 2015, the innovation and startup ecosystem in Ho Chi Minh City was still in its infancy. However, when the Government issued the Project "Supporting the National Innovation and Startup Ecosystem to 2025" along with a series of programs and policies of Ho Chi Minh City, the city has now been named on the world map of innovation and startup ecosystems. In 2023, Ho Chi Minh City was ranked 113/1,000 cities with the most dynamic innovation and startup ecosystems globally.
“This is one of the signals we can hope for. The government’s participation with a number of stimulus policies as well as the strong participation of schools, institutes, incubators, businesses… it is expected that after 5 years of implementing Resolution 98, the city will exceed the set targets by 10% to 20%,” said Mr. Nguyen Viet Dung.
Plan 433/KH-UBND on implementing policies to support innovation and creative startups in the 2024-2028 period also includes training programs for science and technology organizations, innovation centers, and intermediary organizations supporting innovation and creative startups. The city will organize training on policies, implementation methods, and orientations on innovation content for state management agencies assigned with funding to implement support policies for innovation and creative startups; organize and support innovation and creative startups projects annually. In particular, Ho Chi Minh City will support innovative solutions, products, and services that are applied and evaluated for their ability to be implemented in real environments in the form of performing science and technology tasks.
BA TAN
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