The municipal People’s Committee on Tuesday officially launched StartupCity.vn - a start-up ecosystem, which is expected to connect start-ups with international firms, thus creating new jobs.

In the past few years, Viet Nam has seen considerable improvements in the start-up community. Many start-ups have successfully called for investments amounting to several million US dollars by expanding to the world market.

However, experts said Viet Nam still lacks a complete start-up ecosystem.

Therefore, Ha Noi established the portal to create an online platform to connect start-ups with foreign investors.

Speaking at the launch ceremony, Nguyen Duc Chung, chairman of the municipal People’s Committee, said StartupCity.vn has been an example of the country’s rapidly developing technology sector.

“Angel investors and venture capital funds can directly connect with start-ups through the portal,” Chung said, adding that the platform was developed in Ha Noi after consulting experts from Israel – a country, which boasts of being a model start-up nation.

US$1 million support for start-ups

Up Co-working Space and the Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) jointly launched a hi-end working space on the same day to provide maximum support to the Vietnamese start-up community.

In 2017-18, VPBank Start Up will spend at least US$1 million to directly support Vietnamese start-ups. The strategic co-operation between the Up Co-working Space and VPBank is expected to be an important step for the start-up community. The two sides plan to host a number of activities, including major contests, to support and promote innovative start-ups in Viet Nam.

Founder of the UP Co-working Space, Do Hoai Nam, said businesses will get a chance to experience the A-standard working space at UP@VPBANK, at a reasonable cost. Furthermore, UP@VPBANK will offer the best assistance to innovative start-ups and potential financial technology (fintech) businesses to promote creativity and competitiveness, he said.

They will get financial, accounting and legal support from investors, and have opportunities to work together, connect and cooperate to realise the goals of a “start-up city” and a “start-up nation,” he added.

Nguyen Duc Vinh, VPBank’s general director, said the bank hoped to create a strong momentum in the development of the start-up community in Viet Nam.

The UP@VPBANK hi-end working space is located on the 21st floor of VP Tower, 89 Lang Ha. UP Co-working Space was developed by entrepreneurs pioneering the start-up movement in Viet Nam. It now has six branches in Ha Noi and HCM City. — VNS