The promotion of start-up activities and the building of a start-up community in Da Nang will be considered as the mainstay of the local economy in the years ahead.

Representatives from a start-up business introducing their services to a visitor at a local start-up event

This statement was made by the Chairman of the Da Nang Coordination Council for the Business Start-up Network, Mr Vo Duy Khuong, during his recent interview with reporter Khang Ninh from DA NANG Newspaper.

In July, Da Nang stood out in the national start-up community as it successfully organised the International Startup Conference and Exhibition 2017 (SURF).  The event was this year’s largest of its kind in the central region and highlands. 

Interestingly, ‘ca chuon’ (flying fish) was selected to be the symbol of this international large-scale event.  Mr Khuong explained that flying fish is one of the typical aquatic creatures in the coastal central region.  It is common to see that this type of fish can make powerful, self-propelled leaps out of water into air, where their long, wing-like fins enable gliding flight for considerable distances above the water's surface. 

In particular, this type of fish always swim in groups to protect themselves from their predators.  Flying fish indeed resembles the image of start-up lovers who possess flexibility- a good personality trait.  Anyone who wants to do start-up activities should join their efforts with others in a healthy and strong start-up ecosystem.

Visitors showing their keen interest in ‘Minh Hong’ dishwashing liquid which is made from raw vegetables and withered flowers

Despite having been established much later than in other localities nationwide and other ASEAN member countries, Da Nang’s start-up ecosystem has gained remarkable achievements thanks to great support from local government. 

Following the successful opening of the Coordination Council for the Business Start-up Network in 2015, the Business Incubator, start-up incubator centres and a co- working space for local start-up businesses have already made their debuts in the city.

Since 2015, Da Nang has worked with a total of around 20 international start-up partners.  Included are the Embassy of Israel in Viet Nam, the Asia Development Bank, the Mekong Business Initiative, the Swiss EP Startup Support Programme, the Central Institute for Scientific Entrepreneurship and International Transfer which is part of the University of Koblenz-Landau in Germany, and the US Arizona State University.  Notably, the Da Nang Startup Fair 2016 attracted a large number of international partners, startup-supporting organisations, and local start-up groups.

The city leaders have already given the go-ahead to a plan for realising Da Nang’s goal of becoming a start-up and innovation destination in ASEAN by 2030.  Mr Khuong underscored the need for local universities, colleges and related organisations to pass the torch of strong passion for start-up activities on to local youths, as well as to introduce their effective ways to local young start-up lovers to help them develop their own businesses. 

Furthermore, the national government should issue even more preferential start-up support policies.  Mr Khuong stressed the need for young people to be more confident and take the initiative to develop their start-up ideas and make their dreams come true.  He added that success is often achieved by those who don't know that failure is inevitable.

Mr Khuong happily said that the municipal People’s Committee recently asked the Authority of the city’s Investment and Development Fund to develop a plan to set up a fund exclusively for promoting innovation and start-up activities.  The plan is expected to be completed by the end of this year.