The Da Nang People’s Council has adopted a resolution regarding the implementation of some regulations regarding the main features and the scale of funding from Da Nang government for the enhancement of the Da Nang innovative startup ecosystem by 2025.

The Da Nang move came in an active response to Viet Nam's national government-approved project for supporting a national innovative startup ecosystem by 2025.

Da Nang's new resolution stipulate specific regulations on organising innovative startup events and training activities, support services for innovative startups, material and technical foundations and communication activities for innovative startups, startup networking activities, more support for businesses to make innovations, and state management activities.

In addition, the new resolution also specifies the specific level of spending from Da Nang budget to support those who want to take part in domestic and international-level innovation startups.

The beneficiary subjects are teams whose projects advance to the final round of domestic or international innovation startup contests held by national government ministries, socio-political organisations and highly-prestigious international organisations.

With regard to the level of financial support, the maximum does not exceed 10 million VND / team / year for entries at domestic competitions, and no more than 30 million / team / year for those competing at international competitions.

In addition, entrants who compete in municipal-level scientific research contests exclusively for students are eligible for funding from Da Nang government.

Three million VND in funding is provided for each entry involved in social sciences and humanities, whilst a bit higher assistance, fixed at 5 million VND each, goes to projects active in natural sciences, technologies, medical sciences, pharmacy, an agricultural sciences.

By PHONG LAN- Translated by A.T