
Many scientific, technological, and innovative products developed by organizations in Ho Chi Minh City are showcased during the inauguration of the Ho Chi Minh City Innovation Startup Center. Photo: C.Trieu / Tuoi Tre
After much anticipation, the long-awaited shared home for the city’s startup community has officially joined the local startup ecosystem, one of the most vibrant and dynamic in Vietnam.
According to Lam Dinh Thang, director of the Ho Chi Minh City Department of Science and Technology, the nearly 17,000-square-meter facility operates under a public-private partnership model.
It aims to provide one-stop services for the startup community in the city.
Positioned as a central hub, the center is expected to serve as a nucleus connecting resources within the startup ecosystem and a testing ground for new policy initiatives.
Floors 1 to 3 are designated as common areas for government-managed programs, aimed at nurturing talent and promoting support policies.
Floors 4 to 7 house resources from the private sector, including domestic and international incubators, venture capital funds, and technology corporations to support startups.
Ho Chi Minh City’s startup ecosystem is currently valued at US$7.4 billion, attracting a total of $260 million in venture capital.
The city is home to nearly half of the country’s total startups, including three national tech unicorns: VNG, Momo, and Sky Mavis.
The operation of this center is considered a strategic move to realize the city’s goal of joining the top 100 most dynamic innovation ecosystems globally.
“With a strategic vision and concrete steps, the Ho Chi Minh City Innovation Startup Center will be a solid launchpad, nurturing a culture of bold thinking and action," Thang said.
“It affirms the city’s position and gradually propels it toward becoming a leading hub for innovation in the region and the world."
Vice-chairwoman of the municipal People’s Committee Tran Thi Dieu Thuy emphasized that the city considers science, technology, innovation, and digital transformation as top breakthroughs.
Many key targets related to science, technology, startups, and innovation have been set.
Thuy reiterated the goal of placing Ho Chi Minh City among the top 100 cities with the most dynamic innovation startup ecosystems globally.
To achieve this strategic goal, she emphasized the crucial role of the startup ecosystem.
“The center must act as the core of the ecosystem, becoming a hub of knowledge, connecting the startup community, and driving the city’s innovation,” Thuy stated.
Nguyen Huy Dung, a representative of the Central Steering Committee for Science and Technology Development, Innovation and Digital Transformation, noted that developing high-quality human resources is fundamental and a decisive factor for success.
Dung urged Ho Chi Minh City to focus on developing national strategic technologies, especially artificial intelligence and digital twins.
International cooperation is also essential for accessing core technologies, participating in global value chains, and co-creating new values.
One key issue raised during the inauguration was the need for public venture capital alongside private venture funds. These state-backed funds would play a guiding role and help share risks.
Dung expressed hope that Ho Chi Minh City would soon pilot the establishment of a state-funded venture capital fund and corresponding policy investment funds to attract capital into high-tech and innovation-driven startups in national strategic technology fields.
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