In an effort to comprehensively develop the innovative startup ecosystem and create a favourable environment for startups and investment attractions, Da Nang needs to enhance the role of the Coordination Council for Startup Network and implement many orientation solutions and network connections.

Da Nang needs to enhance the role of the Da Nang Startup Network Coordinating Council and implement many orientation and connection solutions. Employees of EM & AI Joint Stock Company are at work. Photo: VAN HOANG

Promote the role of the coordination council

According to the Da Nang Startup Network Coordinating Council, Da Nang has built many policy mechanisms to promote the development of an innovative startup ecosystem in terms of direct support for startup projects/enterprises with technological innovations and intellectual property development. The city has completed the common working space, invention space, technical infrastructure for incubating high-tech businesses at the Da Nang High-Tech Park General Service Centre and other facilities in the area.

Also, the city has coordinated with the Ministry of Science and Technology to promote the establishment of the National Creative Startup Support Centre in Da Nang in the near future.

Some businesses and startups have made breakthroughs and successfully raised millions of dollars from investment funds and angel investors. Da Nang was continuously recognised as “Attractive City for Innovative Startups” in 2020, 2022 and 2023 by the Viet Nam Software and Information Technology Services Association.

At the 2023 national Techfest event, Da Nang was also honoured by the Ministry of Science and Technology as a locality with outstanding contributions to the national innovative startup ecosystem. The National Innovation Startup Advisory Council voted Da Nang as one of the three typical Vietnamese localities successfully building a startup ecosystem.

Director of the Da Nang Department of Science and Technology, Permanent Vice Chairman of the Da Nang Startup Network Coordinating Council Le Duc Vien acknowledged that the coordinating council plays an important role in promoting innovations across the city, creating an extremely strong connection foundation between elements in the startup ecosystem.

Many domestic and international networking activities are promoted through events, competitions, and forums on innovative entrepreneurship, creating opportunities to connect universities and research institutes with businesses and business incubators, encouraging the formation of projects/businesses and startups from universities and research institutes across the city.

According to the Da Nang Innovative Startup Support Centre, in 2024, the council will continue to promote the resources of the ecosystem towards comprehensive development, maximising the role and functions of the ecosystems, effectively utilise resources and orient deep and wide connections with domestic and international ecosystems, and boost connections among the elements of the domestic and international startup ecosystem.

Focus on developing the startup ecosystem

Mr. Nguyen Van Chuong, the Vice President of Da Nang Business Incubator (DNES), said that factors built from the city's internal resources will determine the development and prosperity of the innovative startup ecosystem.

In particular, the Da Nang Startup Network Coordinating Council is the compass that guides and coordinates startup activities of Da Nang as a whole, pioneering in incubation, forming shared working spaces, community development and international cooperation, building an attractive city for innovative startups, creating an image for the city’s citizens-friendly government and attracting resources for ,cooperation and support for startups, prioritising the development of infrastructure, human resources, material resources and support policies.

Therefore, it is a high time for Da Nang to continue to develop high-quality human resources through incubation and training inside and outside universities and colleges, infrastructure for incubation and workspace that are integrated with services, digital transformation of incubation programmes and operating processes.

As for capital, it is necessary to have primer capital from the city’s startup investment fund, policies to encourage the participation of corporations in establishing innovation startup investment funds, and forming angel investor clubs. In addition, the city should develop more policies to support the startup ecosystem, attract high-tech fields such as artificial intelligence (AI) and semiconductor chips.

According to the Da Nang Department of Science and Technology, it is a must-do to continue to improve mechanisms, propose policies to develop innovative startup ecosystems, improve physical facilities and technical infrastructure for startups, deploy more highly-practical activities to promote businesses' technological solutions for the sake of the socio-economic development.

Also, heed should be paid to developing startup projects in the fields of digital transformation, information technology, AI, automation, biotechnology, circuit design, gradually developing the startup business community that is rich in quantity and strong in quality.

Last, but not the least, the city needs to strengthen and expand cooperation with strongly developed domestic and international innovation startup ecosystems such as the US, Japan, South Korea, Sweden, Finland and Singapore to exchange experiences in ecosystem development, lure more investment funds for startups and partners to Da Nang to support projects/startups in the city.

Reporting by VAN HOANG - Translating by A.THU