|A training session of VSV for groups of startups. Experts from U.S. tech giant Microsoft join a training program aimed to provide technological support and infrastructure solutions for Vietnam startup projects backed by the VSV project - PHOTO: VSV
According to a memorandum of understanding (MoU) inked between Microsoft Vietnam and VSV in Hanoi on September 26, the two sides pledged to jointly aid startups in the technology sector.
Han Ngoc Tuan Linh of the VSV project said those startups participating in the training program will initially receive advice, technological support, infrastructure solutions and special incentives from Microsoft.
He said the two parties expected to promote cooperation in assistance activities for startups across Vietnam in the future.
VSV was set up by the Ministry of Science and Technology to create an environment that helps scientists and startups develop innovative products of high viability and competitiveness. The project has teamed up with angel investors who provide financial backing for small startups or entrepreneurs to deploy a business accelerator named Vietnam Silicon Valley Accelerator (VSVA).
Every year, VSV selects projects from young people with startup ideas and assist them in facilities, knowledge and skills to develop these projects and call for investment.
VSV has created, trained and supported more than 40 startup projects of young local entrepreneurs and is gradually obtaining its goal of becoming a small-scale venture capital fund for startups at their first stage of development in Vietnam. Startups which have been successfully turned into businesses and mobilized millions of U.S. dollars from VSV include Lozi, TechElite, LoanVi and Schoolbus.