Promoting startups and innovation is the key to effectively implementing sustainable development goals.
That is the affirmation of the majority of young parliamentarians from various countries. Sharing his experience, a young parliamentarian from Morocco said that in recent years, innovation and startups have become keywords and hot topics discussed in this North African country. This field attracts many young entrepreneurs to invest and operate; agencies are also accelerating the issuance of institutions and policies to support businesses in this field. Many incubators, investment funds, associations and businesses have been established to accompany businesses in this field. The young Moroccan parliamentarian also said that Morocco gives many priorities to this field because it can contribute to development. However, challenges still exist for founders of innovative startups, requiring policymakers to make more efforts to solve the challenges that are posed.
The young Moroccan MP said that start-ups in Morocco have developed very strongly and Morocco has a proactive approach to promoting innovation and promoting the formation of new businesses. Pointing out some forms of support for young businesses operating in the field of innovation and start-ups, the young Moroccan MP said that Morocco invests a lot in start-ups with strong investment mechanisms; supports market access; organizes start-up competitions; training programs linking training institutions and businesses, aiming to train human resources for businesses operating in the field of start-ups and innovation. Despite many efforts and achievements in supporting innovation and start-ups, the young Moroccan MP also frankly acknowledged that businesses operating in this field still face difficulties such as access to capital, administrative procedures, etc.
Young Parliamentarians Delegation from Kuwait
The young parliamentarian from Kuwait said that innovative startups play a very important role in the economy, helping to create jobs for people. Supporting these businesses is especially necessary to ensure that they are oriented in the right direction. Accordingly, there needs to be an appropriate legal framework and appropriate attention should be paid to small and micro enterprises because these are the businesses that have been heavily affected by the recent Covid-19 pandemic.
According to the young Kuwaiti MP, parliaments need to have policies to help businesses improve their resilience to the economic crisis. Sharing Kuwait's experience in supporting these businesses, the Kuwaiti MP also said that the Kuwaiti Parliament has passed a law on the establishment of a national fund to support small and medium-sized enterprises, including innovative startups; at the same time, calling on countries to have strong support policies for startups in the fields of innovation and technology.
Image of young parliamentarians from various countries attending the discussion session on Innovation and Entrepreneurship
Building a thriving creative startup environment will help promote the development of businesses operating in the field of startups and innovation, thereby contributing to promoting the implementation of economic development goals of each country and the implementation of SDGs globally. Sharing this view, the young South African MP also said that this means creating conditions for businesses to access capital more easily, along with the need for a full legal mechanism and corridor to protect the intellectual property rights of businesses to ensure the development of technology and intellectual property rights.
HICOOL Director Tingyu Yuan emphasized that it is necessary to encourage young people, especially young entrepreneurs, to participate more in the policy-making process. From personal experience, HICOOL Director believes that young parliamentarians need to increase interactions with young businesses and entrepreneurs to better understand the startup ecosystem, the difficulties that young businesses are facing, and grasp what young businesses need, thereby making policy proposals to promptly remove obstacles for startups. Through interactions with startups and industry experts, parliamentarians who are also young representatives can promote legal frameworks to build a better startup ecosystem.
Contributions of Young Parliamentarians from the Chinese National People's Congress
Recognizing the urgent need for startups, the young member of the Chinese National Assembly said that in the financial sector, China has supported banks to develop a new credit assessment system, using algorithms as a foundation, analyzing startup and innovation cases, detecting strengths and weaknesses so that the Government can make more appropriate adjustments to facilitate economic growth and promote the efficiency of economic operations.
Create a favorable legal framework for innovation, transfer, application and development of science and technology; support experimental models of innovation, creativity and startups (sandbox)
CEO Nguyen Thanh Trung, founder of Sky Mavis
In response, young parliamentarians from countries around the world and Vietnam shared specific lessons learned related to this issue. Mr. Nguyen Thanh Trung, founder and CEO of Sky Mavis, a famous startup with the game Axie Infinity, shared his journey to blockchain technology. Since 2018, when everything about blockchain at that time was still very vague, but after 3 years, Axie Infinity has become a blockchain game that has reached the milestone of 3 million players, financially supporting a group of unemployed people facing difficulties during the COVID pandemic, and is a worldwide phenomenon.
According to Mr. Nguyen Thanh Trung, in the field of blockchain technology in particular, Vietnam has complete advantages and stands at the same starting point as other countries in the world and can stand shoulder to shoulder with technology powerhouses. The core point is to have a legal framework for blockchain.
Mr. Nguyen Thanh Trung emphasized the core, which is the legal policy framework for blockchain technology and startups in this field. This is an important factor of the startup ecosystem, the decisive factor for the success or failure of startups. Chain technology and related factors need to be officially recognized, as a premise for legalization and issuance of related policies.
Presenting a number of policy proposals at the discussion session, Pham Trong Nghia, member of the Social Affairs Committee of the Vietnamese National Assembly, said that innovation and startups in Vietnam started strongly in 2016, when the National Assembly passed many laws, including the Law on Technology Transfer, the Law on Support for Small and Medium Enterprises, the Investment Law and the Intellectual Property Law. Thanks to the upgrading of the legal framework, the number of startups in Vietnam is increasing. There are currently about 3,000 startups, 3 of which are valued at over 1 billion USD and 11 of which are valued at over 100 million USD. The startup ecosystem in Vietnam ranks 54th in the world and 10th in the Asia-Pacific.
Young National Assembly Deputy Pham Trong Nghia, full-time member of the Social Committee of the National Assembly of Vietnam
Delegate Pham Trong Nghia said that the National Assemblies need to continue to build and perfect the legal system, create a favorable legal framework for innovation, transfer, application and development of science and technology; support models of innovation, creativity and startups (sandbox); especially, it is necessary to respect, encourage and convey companion thinking, support the subjects of innovation and startups in building and implementing policies and laws.
As a young parliamentarian, delegate Pham Trong Nghia recommended: With their important role, parliaments need to continuously develop and upgrade the legal system, providing a favorable legal framework for innovation and start-up models; transferring, applying and developing science and technology. Vietnam recommends that all IPU members consider establishing a global network of young parliamentarians on innovation to realize sustainable development goals, develop initiatives, activities, and organizations with the capacity to connect and support innovation and start-up activities in many countries, encourage and support projects and businesses practicing innovation and start-up. From there, create a good training and practice environment for future human resources for science, technology and innovation for sustainable development goals, encourage start-up and innovation activities among youth and students.
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