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| Representatives of Hoa Sen Group and HCM City National University signed the agreement. — VNS Photo |
HCM CITY (Biz Hub) — Steel maker Hoa Sen Group on Monday agreed to provide VND10.5 billion (US$477,000) to the HCM City National University's Start-Up Foundation to speed up start-ups by students and young teachers from the university and others in the city as well as neighbouring provinces.
The money will be allocated over five years through 2020.
The foundation seeks to enrich young people's knowledge of start-ups and strengthen the capacities of business incubators.
"Starting up is tough," Luu Phuoc Vu, chairman of Hoa Sen Group, said.
"Without strong efforts, it cannot be successful especially in a competitive economy. To start up, people need to be creative."
Earlier, at an event organised in Ha Noi, Vu had pledged to support start-up projects launched by the HCM City Youth Union in 2016-21.
Ha Noi and HCM City have been making strong efforts to develop start-up programmes.
They are in fact trying to become start-up hubs to boost their competitiveness and development. — VNS