The Da Nang government is taking steps to develop the city into a startup and innovation hub in Central Viet Nam and Central Highlands regions. To realise Da Nang ambition, a handful of preferential mechanisms and policies have been released for the building of an innovative startup ecosystem.

In details, startup projects citywide will be fully eligible for fundings to participate in trade promotion programmes and supply - demand links stimulating events.

Also, startup developers will enjoy attractive subsidies on working and incubation space rental fees for one year, and have land access in the Da Nang Hi-tech Park for the deployments of their projects.

Also, they will be provided with aids from the investment funds of the State-owned financial institutions and other private ones, plus free-of-charge consulting services for holding of an initial public offering (IPO).

In addition, foreign startup entrepreneurs will access support in terms of workplaces whilst touting for business in the city.

Likewise, scientists whose research works and scientific and technological products have been certified will be allowed to participate in technology and business incubation programmes.

Institutes and tertiary establishments citywide will be highly encouraged to set up investment funds according to the public-private partnership (PPP) mechanism in order to develop more startups here.

Financial assistances will go to universities citywide for the establishment of their own science and technology research, and startup support centres, and incubators.

Likewise, innovation centres, business incubators and co-working spaces will receive grants from ODA, non-governmental organisations and the national government-funded programmes.

By PHONG LAN – Translated by A.T