HCMC accounts for nearly half of national startups

Ho Chi Minh City (HCMC) takes the lead in the number of startups in Vietnam, making up around 45 percent out of the total 3,000 businesses, according to statistics presented in the recent working session between the Department of Science and Technology of HCMC and Thua Thien - Hue Province.

HCMC accounts for nearly half of national startups

In this meeting, Deputy Director of the HCMC Department of Science and Technology Nguyen Khac Thanh shared the city’s experience on promoting innovative startup activities.

Accordingly, the HCMC People’s Committee has continuously introduced various policies, along with several supporting activities, to encourage the development of an innovative startup ecosystem in the city and neighboring areas.

Since the beginning of this year, many Vietnamese startups have been able to successfully attracted capital, with a total amount of more than US$670 million for 50 projects. 23 of them are businesses from HCMC, gaining over $300 million capital amount.

In addition, a series of startup entrepreneurs in HCMC are confidently penetrating the global market.

The municipal authorities are now promoting more startup activities via preferential policies to attract more resources from the community. Notably, its program SpeedUp, which supports promising startup projects, can offer a maximum capital amount of VND2 billion (approx. $86,000).

In the period from 2020-2025, the HCMC Department of Science and Technology is going to introduce 8 supporting packages to further boost innovative startup activities in the city.

By B.TAN – Translated by Vien Hong

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