The Da Nang Department of Science and Technology on Monday presented a total of more than VND600 million in aid from the city's scientific and technological development fund to 4 businesses and innovative startup support organisations.

In detail, the Dai Hung investment and development company received VND230 million for the ‘SHIPWAY - Smart transport’ project, which aims to increase the connections between goods and vehicle owners, thus saving time and cost, and limit  inadequacies in freight transport.

The Da Nang Business Incubator (DNES) was provided with VND260 million to implement a task of hiring experts for its FINC incubation programme under which participants enjoy no fee or equity for joining and have a chance to verify market assumptions and business models through intensive workshops and weekly 1-1 meetings.

More than ND76 million VND went to the Sustech Green Environmental Company Limited to carry out activities targeting at widely publicising its tank-stored water filter model.

Over VND40 million was presented to the Azitek Co., Ltd. to help cover the cost of incubation services for the AHUB project.

The funding was part of the municipal government-approved plans for the implementation of ‘Supporting the national innovative startup ecosystem until 2025’ project in Da Nang in 2021.

For the time being, the municipal Department of Science and Technology is mulling over plans for financially supporting 4 other innovative startups and an incubator as well as help boost technological innovation activities in local businesses.

Since the start of this year, 8 local businesses received a total of more than VND2 billion from the city's scientific and technological development fund.

Reporting by PHONG LAN – Translating by A.T