Vietnam, India augment co-operation in innovative startup ecosystem development

The event was held with the theme of “Invest Vietnam: High-tech investment and startups” and featured the participation of representatives of local authorities, investment, science-technology, and startup ecosystem management agencies. This is in addition to investment funds and startup companies based in Karnataka.

Vietnamese representatives attending the forum included those from the Office of the project to support the national innovative startup ecosystem to 2025 (Project 844) under the Ministry of Science and Technology. They were joined by members of the Da Nang Department of Science and Technology and a number of startup incubators and centres, such as BKHoldings and SaigonTel.

Participants used the event to exchange information on the situation and development of innovative startup ecosystems of both sides, as well as their respective experiences in the area.

Representatives from Karnataka highlighted various policies and the experience of the state in developing startup ecosystem. In return, Vietnamese startup incubators and centres expressed their hope that they could co-operate with their peers in Karnataka.

As part of his address, Vietnamese Ambassador to India Pham Sanh Chau said that science-technology remains one of the key pillars of the Vietnam-India comprehensive strategic partnership.

The Vietnamese Embassy and the Vietnamese Science-Technology Office in India have recently carried out various activities aimed at promoting bilateral collaboration in the field, he said, affirming the great determination to strengthen the connection of both sides' innovative startup ecosystems.

Following this event, the embassy will strive to support the innovative startup communities of both sides in implementing specific co-operation activities, he said.

Through Project 844, the nation is aiming to assist more than 2,000 startup companies, 600 of which are expected to grow into giants, whilst simultaneously transforming the country into an innovative startup centre in Southeast Asia.

Karnataka represents India's leading innovative startup hub and is home to 14 out of more than 30 Indian unicorn startups which have a value of over U$S1 billion.

Speakers from Karnataka outlined their willingness to work closely with the nation in developing the innovative startup ecosystem, along with sharing their experience in the sphere to help firms from both sides to seek partnership and boost market expansion.