The National Innovative Entrepreneurship Day (Techfest Vietnam 2022) was launched on Tuesday, aiming to promote innovative solutions from start-ups amid the strong development of technology, attracting resources from domestic experts, intellectuals, entrepreneurs and overseas Vietnamese.

The annual event for Vietnamese innovative start-ups is jointly organised by the Ministry of Science and Technology (MOST) and other agencies and localities.

Speaking at the launching ceremony, Deputy Minister of Science and Technology Tran Van Tung said over the past two years, the COVID-19 pandemic has had a profound impact on all aspects of the economy and society, negatively affecting the development of the innovative start-up ecosystem, particularly businesses. Therefore, it requires determination, consensus and concentration of resources to overcome difficult times, he said.

The pandemic also limits the ability to access international resources, interaction and business exchanges. However, it is also a driving force for innovation, creativity and offers opportunities for the application of science and technology, Tung said.

Last year, the national innovative start-up ecosystem attracted more than US$1.5 billion, the highest amount of investment capital. It is the clearest evidence of the potential and capacity of Vietnamese intellectuals, the deputy minister said, adding that this impetus needs to be encouraged to develop a new wave of innovation, contributing to economic recovery and development in the post-pandemic era. — VNS