In recent years, Da Nang has gained numerous positive results from innovative innovation startup activities, thereby significantly contributing to helping Da Nang turn itself into an innovative startup center of the whole country and Southeast Asia by 2030 under the Politburo's Resolution No 43-NQ/TW regarding the city's progress by 2030 with a vision toward 2045.

The Da Nang Department of Science and Technology held a ceremony to grant financial aid for potential start-up projects in 2021. Photo: QUYNH TRANG

The city, over the past years, has taken a number of measures to attract start-up projects, especially creating a favourable environment for the germination of startup ideas and the establishment of startup businesses from young people and entrepreneurs.

In particular, since 2014, a number of startup competitions have been organized in universities, creating opportunities for students to approach entrepreneurship.

In addition, 2014 was designated the Year of Da Nang Enterprises, whereby many mechanisms and policies to support startups were issued.

Two years later, the city's startup activities reached an important milestone when the municipal People's Committee decided to establish the Coordination Council for the Business Start-up Network in October 2015, and the Da Nang Business Incubator (DNES) under the only public-private partnership model in the country in late December 2015.

The city issued Decisions No. 88 dated January 5, 2017 and Decision No. 1219 dated March 6, 2017 on the implementation of a project to building Da Nang into an innovative startup city by 2020, with a vision to 2030.

Currently, the city has developed and issued 11 mechanisms and policies to create a favourable environment and legal basis to support the development of startups, as well as the establishment of 6 incubators, 2 creative spaces, 9 co-working zones, 4 investment funds, 10 startup clubs and some innovative startups. Also, Da Nang has about 50 innovative start-ups out of a total of 3,000 innovative startups in the country.

Most notably, in early June, 2021, the Da Nang Innovative Startup Support Center was established on the basis of reorganizing the Center for Science and Technology Information under the municipal Department of Science and Technology. It has become the focal point of the innovation startup ecosystem in Da Nang and the Central Viet Nam and Central Highlands regions at large.

In mid-October, the Authority of Da Nang’s Hi-Tech Park and Industrial Parks held a consultation on perfecting hi-tech startup incubation regulations. The event saw the participation of experts in the fields of startups - innovation, along with specialists in incubation activities, and representatives of startup projects joining the city’s high-tech startup incubation programme.

Mr. Tran Van Ty, Deputy Head of the Authority highlighted the important role of business incubation in the Hi-Tech Park and Industrial Parks. "If there is no business incubation, the Hi-Tech Park is just an ordinary industrial park" emphasized Mr Ty.

Therefore, he stressed the need for the Authority to develop an incubation regulation covering the incubation process and issues related to the process.

Dr. Vo Duy Khuong, Chairman of the Board of Directors of the DNES, underlined the necessity for the city to strongly perform the role of "midwife" for the startup ecosystem in various fields, as well as quickly develop an infrastructure system for innovative startups in a bid to attract more domestic and foreign companies and start-up projects to the city in the time to come.

Specifically, importance will be attached to put the city's Innovation Startup Center into operation soon as well as rearranging existing software parks and startup incubators to facilitate hi-tech startup projects to work in the innovation ecosystem.

Emphasis will be paid to issuing a clear and transparent support policy for innovative projects and startups that meet the city's selection criteria through incubation, training and financing activities, as well as simplifying procedures for business registration.

Reporting by QUYNH TRANG, MAI QUE - Translating by M.DUNG