The business of helping businesses

Saturday, Nov 11, 2017 08:07

Help needed: Speakers at the Start-up Forum. — Photo

To expand the start-up ecosystem, enterprises needed management agencies to help build a platform for effective implementation and increase the number of successful businesses. This was stated at the third Start-up Forum held in Ha Noi on Thursday.

Tran Van Tung, Deputy Minister of Science and Technology, said that the start-up movement associated with innovation had been welcomed by young people nationwide.

Apart from the success of some typical first-generation enterprises, the third generation had become the dominant business generator in the last two to three years in fields of technology education, agriculture, and technology finance, e-commerce, entertainment and media.

According to Tran Van Tung, Viet Nam has about 30 venture capital funds for start-ups, showing that the start-up ecosystem in Viet Nam already has all the components for development.

However, the ecosystem has not been fully developed mainly because that start-up supporters were working incoherently or there was a lack of mechanisms to mobilise and develop the potential of the ecosystem.

Businesses and delegates attending the forum agreed that management agencies needed to build legal mechanisms, creating favourable conditions for the start-up ecosystem to develop properly.

Tran Tri Dung, consultant of Swiss Entrepreneurship Program SwissEP, said that the Vietnamese start-up ecosystem was similar to those in other countries.

The problem was how to connect and operate together efficiently. When developing ecosystems, people were trying to work at all tasks. This was extremely difficult, Dung said. "We should try to focus on what we are good at,” he added.

"As a start-up supporter, I hope that ministries, and agencies will support the ecosyetem but they also need to be selective. We need more successful stories in Viet Nam," he said.

Attorney Nguyen Van Loc, a start-up consultant and LP Group chairman, proposed the distribution of a circular guiding the law supporting small and medium-sized enterprises and encouraging localities to take initiatives in supporting start-ups. — VNS

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