2020 is the 4^th year in a row, Da Nang will continue its great effort to develop its start-up ecosystem in order to realise the goal of turning itself into a national innovative start-up hub in the central and Central-Highlands regions as per request by the national government’s stance. Therefore, more robust and practical support policies for startups will be issued by the city administration.

Next year, the city will issue more robust and practical support policies for startups. In the photo is a view of entrepreneurs exchanging startup experience at the Han River Incubation Centre.

One of the biggest chances is the direct and financial support for startups in their early stage. Mr Vo Duc Anh, the Deputy Head of the Technology Management Office at the municipal Department of Science and Technology, said, the previous mechanism only allows the State to provide financial support after startups launch their sample products. This approach, actually, may be appropriate for traditional businesses, whereas startups often need support at an earlier stage.

In July, the Ministry of Finance issued Circular No. 45/2019 / TT-BTC prescribing financial management for implementation of ‘National programme to support innovative startup ecosystem by 2025’.

One of the focuses is to provide subsidies or financial support to partially offset costs that innovative startup enterprises pay as direct wages; for these enterprises to use innovative startup services, use digital spaces and online support services; to fund trial production, manufacturing of sample products, perfection of technologies and participation in overseas intensive training courses.

In his more specific explanations, Anh affirmed, with this new regulation, startups can be eligible for financial support right after their oral presentations of their projects are conducted.

Currently, Da Nang is cooperating with the Economic Advisory Council to the Prime Minister to build up the project ‘Building Da Nang into a national innovative startup centre in the central and Central-Highlands regions’, which is expected to be approved next year. Once the project is approved, Da Nang will be entitled to pilot mechanisms and policies to enhance its innovation.

It is noticeable that the city administration is mulling over the construction of a working and startup training, covering an area of 1,800m² on Tran Hung Dao Street, Son Tra District. Also, the Ministry of Science and Technology will be recommended to set up a national entrepreneurship centre in this complex.

By late next year, support will have been provided for at least 20 local startups. “Focus will be placed on strengthening 5 core elements: talent, density, culture, capital and institutions to help create a more robust startup community in the city”, remarked Anh.

Starting from December 2019, local startups can also access support from the General Service Centre at the city’s Authority of Hi-tech Park and Industrial Zones. According to, Mr Tu Thanh Thuy, the Deputy Director of this center, next month, over workshop No.1 worth 10 billion VND on a total area of 2,400m² will open. This venue consists of 18 working rooms, providing space for research, development and incubation activities conducted by startups.

Besides, the Authority of Hi-tech Park and Industrial Zones have already entered into cooperation agreements with the city’s universities of Science and Technology, Economics, and Duy Tan University and other higher education establishments to train human resources for startups.

Notably, at the ‘Da Nang Business Roundtable’ seminar in Silicon Valley, the USA, in August, a memorandum of understanding (MoU) was inked by the Authority of Hi-tech Park and Industrial Zones and Ai20X on developing the city’s Hi-tech Park into the best place to conduct business incubation and technological innovation, and serve as the gateway for deploying technology transfer, taking advantage of high quality human resources, developing prestigious experts and promoting investment into the park.  

Ai20X is a premier business network focused on accelerating innovation to the global market, promoting global innovation startups in Silicon Valley and launching products in the USA.

According to, Mr Vo Van Chi, the Deputy Head of the Environment and Science Management Division at the Authority of Hi-tech Park and Industrial Zones, during the 2020-2025 period, the  Hi-tech Park will focus on production activities and attract hi-tech projects which must have R&D production activities. In the 2025-2030 period, importance will be attached to promoting hi-tech R&D, incubation and training, and start-up innovations.

By PHONG LAN - Translated by ANH THU