The National Startup Support Centre of Viet Nam (NSSC) and other organisations in the country late Thursday signed a Memorandum of Understanding (MoU) with the Association of Small and Medium-sized Enterprises and Crafts of the Czech Republic (AMSP ČR) with the aim to develop the two countries’ start-up ecosystem and entrepreneurship.

Apart from NSSC and AMSP ČR, other signatories were Hanoi Association of Small and Medium Enterprises (HN SME), Vietnam Silicon Valley (VSV), FTU Innovation And Incubation Space (FTU FIIS), BambuUp and Technology Incubation and Startup Support Center (TUAF).

The MoU is part of a development co-operation project on entrepreneurship and innovation between these parties, financed by the Czech government.

Under the agreement, the parties agree to support and help each other in advising on policy of developing innovative start-up ecosystems, training and improving the qualifications for management staff, expert exchange to support each other in programmes and events about innovative start-ups.

Each party will also introduce qualified people, organisations and start-ups within its country to participate in the other’s events, programmes, and activities for access to the network of mentors or start-up communities, fundraising, incubation, business matching and market penetration.

“Viet Nam is one of the most important trade partners of the Czech Republic in Southeast Asia. Our bilateral trade has been growing steadily while the trade volume already exceeded US$1 billion,” said David Jarkulisch, Head of Economic Section, Embassy of Czech Republic in Viet Nam.

“While the large companies and investors on both sides are already engaged in business operations between our two countries without significant help of the governments, the small and medium sized companies very often still need to be supported in their business endeavours by their respective governments in order to be successful in foreign markets. That is why one of the main goals of the Czech development aid in Viet Nam is also support of healthy business environment and entrepreneurship,” said Jarkulisch.

“We hope that the co-operation between Viet Nam and the Czech Republic will develop to a new height in the near future, not only in innovation activities and start-ups, but also in mindset and performances in supportive activities for businesses. We expect that the export growth between Viet Nam and the Czech Republic will continue to grow through innovation and more investors will consider Viet Nam a new investment destination and vice versa,” said Mac Quoc Anh, Vice President and Secretary-General of the Ha Noi Small and Medium Enterprises Union. — VNS