Enhancing Collaboration between Vietnam – US Innovative Startup Ecosystem by NATEC accompanies TECHFEST Vietnam

HANOI, Vietnam, Oct. 3, 2022 /PRNewswire/ — The National Program "Initiative for Startup Ecosystem in Vietnam until 2025" (Program 844) aiming to promote the startup ecosystem has gained initial achievements. In 2021, the Prime Minister approved a number of new contents to expand the scope of startup ecosystem activities internationally. Since then, many activities have been designed to connect the Vietnamese ecosystem with experts, and advisors and establish the Vietnamese oversea network. After more than 2 years, the global connection and exchange in the field of startup support were interrupted by the pandemic. In 2022, the Ministry of Science and Technology continues to promote and establish in-depth cooperative relationships with strategic partners, especially with the successful Vietnamese community in the United States to enhance the capacity of different stakeholders of the Vietnamese innovation startup ecosystem.

Leaders of NATEC, the Ministry of Science and Technology visit and work with partners in San Francisco, Silicon Valley-San Jose, and Austin, Texas.
Leaders of NATEC, the Ministry of Science and Technology visit and work with partners in San Francisco, Silicon Valley-San Jose, and Austin, Texas.

In this series of cooperative activities, on September 29-30, leaders of the National Agency for Technology Entrepreneurship and Commercialization Development, the Ministry of Science and Technology (NATEC), Department/Industry, and representatives from different stakeholders of the Vietnamese innovation startup ecosystem, including award-winning startups, coaches in some potential technology fields, policymakers, and experts on the implementation of programs supporting innovative startups attended the Grand Finale of Startup World Cup 2022 in San Francisco. Startup World Cup, organized annually by Pegasus Tech Venture, is the startup competition that expands to more than 70 regions and countries with the participation of experts and investors from Silicon Valley (US) and brings together startups around the world. TECHFEST Vietnam is the official partner of Startup World Cup to deploy contest activities on a nationwide scale towards the global playground. In 2019, Startup Abivin – Champion of TECHFEST Vietnam 2018, represented Vietnam and won the Startup World Cup 2019.

This year, two representatives of Vietnam will participate in the competition: Go Stream – Winner of TECHFEST Vietnam 2020 with optimal live streaming technology solutions, and Otrafy Inc – Winner of TECHFEST Vietnam 2021 with an automated supplier data management platform by automatic collection, storage, and usage of certification data across the food supply chain, reducing at least 40% of manual work. Vietnamese startups’ participation in this global competition takes solid steps in the journey to reach the world, realizing the aspiration to raise the strength and wisdom of the Vietnamese people.

Within the framework of the trip, the Mission will visit and work with a number of partners in San Francisco, Silicon Valley-San Jose, and Austin, Texas, some of which have had many interactive online activities with the Vietnamese startup ecosystem during the COVID-19 pandemic and greatly contributed to Vietnam’s innovative startup ecosystem. There, the NATEC will sign agreements with supporting organizations and technology companies in Silicon Valley as well as build cooperative relationships with the network of universities in Texas to promote activities related to the national innovative startup ecosystem.

Behind the coordination and cooperation of the two ecosystems are the efforts and contributions of the Vietnamese community abroad, especially in the United States. They are talented and successful Vietnamese entrepreneurs and experts, who are capable of designing world-class competitive products, back to Vietnam, passionate about supporting their homeland: Mr. Tri Hoang – Founder of the successful startup incubation center in Silicon Valley – Ai20X with more than 40 years of experience in bridging economic and technological development between the US and other countries, Mr. Kenrick Nguyen is the CEO of Republic – The fintech company in Silicon Valley; Mr. Minh Mac – the Vietnamese Founder of Viet Founders – a global community of entrepreneurs, creators, and experts. They have accompanied TECHFEST Vietnam for many years as speakers in seminars and high-level policy forums, accompanied the MOST in advising and training for a number of Vietnamese universities and startup incubation centers, and connected US experts, venture capital funds, and startup incubators.

Meetings, information exchange, and cooperation agreements during the trip will be an important premise for the implementation of specific initiatives and activities of the national innovative start-up advising network that need forming under Program 844, complemented by the Prime Minister‘s approval decision in 2021. At the same time, they indicate the goodwill and desire to support the Vietnamese innovative startup ecosystem from the overseas Vietnamese community of the MOST.

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