Saigon Innovation Hub (SiHub), under the HCM City Department of Science and Technology, and Expara, Singapore's pioneer and leader in incubation, on Thursday launched a start-up incubation programme built on an online platform.

Huynh Kim Tuoc, managing director of SiHub, said that cooperation with foreign partners in start-up incubation programmes would provide more opportunities to access international-standard training programmes and optimise costs.

An online platform would create favourable conditions for Vietnamese startups, and help small and medium sized enterprises participate in the incubation programmes, he said.

Through this programme, SiHub and Expara will focus on promoting the development of entrepreneurs and planning for entrepreneurial businesses to commercialise and expand creative solutions.

It aims to incubate at least 20 innovation startups with products suited to the fast-growing market.

Applicants in the programme will enjoy several benefits, including participating in an online seminar with experienced industry veterans, receiving advice from reputable experts, and joining a network of angel investors.

In addition, they will receive up to US$140,000 in grants and access to other financial sources.

Other incubation and training programmes between SiHub, the Japan International Co-operation Agency (JICA) and Korea Shinhan Future’s Lab have also been launched.

Sihub and JICA, in collaboration with the HCM City National University's Information Technology Park and Sai Gon Hi-tech Park Incubation Centre, will pilot an accelerator programme for startups in HCM City, focusing on addressing the United Nations' sustainable development goals.

The pilot programme will help 10-30 new startups expand their scale, attract more investment, and make higher returns.

It targets having at least 40 per cent of the startups receiving investment by the end of next year.

An ecosystem of 150 startups is expected to be formed in the next three years.

Sihub and Shinhan Future’s Lab will continue cooperation in the Runway to the World programme, a start-up exchange programme between Viet Nam and developed regions such as the US and Asia Pacific that assists South Korea start-ups in Viet Nam and Vietnamese start-ups in South Korea. — VNS