The City People's Committee will work with the Embassy of Israel and the FPT corporation to host a seminar on start-ups in Ha Noi on September 21. — Photo vtv.vn

The seminar titled "Creating a startup ecosystem in Viet Nam - practical lessons from Israel" is the largest ever of its kind in the city, said Director of Ha Noi Information and Communication Phan Lan Tu in a press briefing in Ha Noi yesterday.

This seminar aims to draw on practical experience from Israeli experts in building an innovative entrepreneurship ecosystem at macro and micro levels or conduct action plans to develop an innovative entrepreneurship ecosystem in Viet Nam as well as further strengthen relations and economic cooperation on science, trade and investment between Viet Nam and Israel.

In May this year, the Prime Minister approved a draft project called "National Programme to Support Innovative Startup Ecosystem in Viet Nam by the year 2025" to create a favourable environment to promote and support the development of start-ups with high-growth potential.

The project has set the following targets for 2020: complete the main legal framework for a start-up ecosystem; run an online portal for the National Innovative Start-up Ecosystem; support about 800 start-up projects and 200 start-up enterprises, of which 50 will raise follow-on investment from private venture investors or will undergo mergers and acquisitions worth about VND1 trillion (about $50 million).

By 2025, the project is expected to have supported 2,000 start-up projects and 600 start-up enterprises, of which 100 will have raised follow-on investment from private venture investors, or will have undergone mergers and acquisitions worth about VND2 trillion. State funding will only be provided to support start-ups in their earlier stages. —  VNS