Germany’s Bosch group supports innovative startup in Vietnam

To this effect, a Memorandum of Understanding was signed between SiHub and Bosch Vietnam in HCM City on June 27.

Bosch and SiHub will stand side by side with the startup community and new businesses to carry out smart projects on the foundation of the Internet of Things (IoT), which are suitable to Vietnamese conditions and meet Ho Chi Minh City’s development demand.

In addition, startup groups at SiHub will have opportunities to visit Bosch’s research and development (R&D) centres to study their working environment and technology capacity.

Consul General of Germany to Ho Chi Minh City Andreas Siegel said that the cooperation is a combination between Germany’s advanced technology capacity and the Vietnamese startup community’s innovation. 

This will start new development stage between Bosch and its Vietnamese partners, he stressed.

According to Huynh Kim Tuoc, SiHub Director, Ho Chi Minh City is targeting to become a smart city and enhance competitiveness of local enterprises to create new products.

The startup community plays a crucial role in realising the set target, he said, adding that this cooperation will help startup companies get access to Bosch’s technology to promote innovation and startup capacity.

The same day, Bosch Vietnam held an annual press conference and a conference to introduce connection solutions for smart city. 

Last year, Bosch Vietnam’s domestic sale revenue stood at US$98.9 million in 2016, a year-on-year increase of 40%. The company earned over US$223 million from exports.

General Director of Bosch Vietnam Vo Quang Hue said the company will spend additional US$47 million on the construction of Bosh Gasoline Systems plant in Dong Nai province and enhance capacity of the R&D staff. It is diversifying products, especially those supporting connection solutions for smart city and Industry 4.0.