Startups and private enterprises in the country should work with local authorities on ways to achieve the UN’s Sustainable Development Goals (SDGs), Pham Hong Quat, director of the National Agency for Technology Entrepreneurship and Commercialisation Development, said on Friday.
Speaking at an international Social Innovation Summit, Quat said that in HCM City the private sector could help build a smart, friendly city that would benefit its residents.
Do Nam Trung, head of the Division of Technology Management and Markets under the city Department of Science and Technology, said the city had provided incentives such as facilities and capital to startups in innovative, creative industries.
“The city has provided funds to develop business incubators, which have services for startups,” Trung added.
Caitlin Weisen, country director of United Nations Development Programme (UNDP) Viet Nam, said that in May the Prime Minister signed a National SDG (Sustainable Development Goals) Action Plan, which identified a key role for the private sector in achieving the SDGs and the 2030 Agenda.
“The idea behind SDG Entrepreneurship is for ambitious and creative entrepreneurs to look at the Global Goals as an opportunity to frame your business innovations,” she said.
The intention is to create a win-win combination where sustainable businesses generate profits while delivering social and environmental benefits that contribute to achieving the SDG Goals, according to Weisen.
Quat said that startups should be innovative in operation and development, contributing to local sustainable growth.
Startups with a business model that can help solve public challenges would attract more capital from investment funds, he added.
Startups should cooperate to build an ecosystem for sustainable startups, and connect with other enterprises and foreign companies to take part in global value chains, Quat said.
Nguyen Thi Hong Minh, chairwoman of Boar, Traceability Solutions and Services Joint-Stock Co, said that enterprises in the country were loosely connected and should strive to work more closely to build brand names and markets so they can compete globally.
The summit was held at HATCH!FAIR, the international technology startup exhibition and entrepreneurship conference, in HCM City on October 27-28 by HATCH!PROGRAM, a nonprofit Vietnamese initiative which connects the global startup ecosystem with Viet Nam.
At the exhibition, more than 100 businesses from technology and creative industries as well as community builders and support organisations showcased their products and services with the aim of engaging networks of customers, partners and investors.
Match-making activities in the HATCH!FAIR act as a bridge to bring business leads to angel and institutional investors and potential early-stage companies.
HATCH!FAIR is part of HCM City Innovation, Startup and Entrepreneurship Week (WHISE 2017) held from October 23-28. The aim is to showcase and promote innovation, startups and entrepreneurship throughout the city.
WHISE 2017 also featured technology exhibitions and an innovation and startup conference held yesterday by the HCM City People’s Committee in co-operation with the Embassy of Finland in Viet Nam.
Speaking at the launch ceremony, Le Thanh Liem, vice chairman of the city People’s Committee, said: “The city’s model of sustainable development is primarily concerned with green growth and the knowledge economy, based on innovation, technology and start-up businesses.” — VNS