Da Nang, positioned as the centre and nucleus of innovation in the central region, has become an ideal destination for startups as various incentives and special policies have been put in place to provide financial and tech supports as well as develop intellectual property assets.

Da Nang is the necleus of innovation in the central region. (Photo: VNA)

According to Deputy Director of the municipal Department of Science and Technology Le Thi Thuc, with favourable mechanisms and policies, together with efforts by elements of the startup ecosystem, local startup and innovation will see a robust development, playing an important role in boosting enterprises, bolstering economic growth, and improving the quality of life.

The National Assembly recently issued a resolution on the urban administration and several special policies for the city, comprising science-tech and innovative breakthroughs that are expected to facilitate the development of startups, she said.

More than 5 billion VND (200,800 USD) has been provided for local startup and innovation projects over the past three years, with the outstanding ones being FiveSS e-commerce platform that connects suppliers and customers in the area of construction, and EM&AI JSC that researches and develops AI services.

The Centre for Innovative Startup Support has work to introduce local startup projects to international investment funds, while the city launched the Da Nang – Seoul Startup Innovation Centre, and is promoting the establishment of the Vietnam – the Republic of Korea Investment Fund to create favourable conditions for startups to get off their grounds.

Deputy Director of the State Agency for Technology Innovation under the Ministry of Science and Technology Nguyen Duc Hoang said that there is a substantial gap between policies and their implementation in technology application and transfer, as well as innovation activities in localities and enterprises in the central region. Against that backdrop, the agency will join hands with local Departments of Science and Technology to boost cooperation in research, technology transfer and innovation with countries and territories, while helping the localities evaluate their production capacity and identify technology need in their key areas so as to have rational support measures.

Source: VNA