From classifying rubbish to e-learning: Hanoi fuels startups

10:31 | 25/09/2017 Information Technology

(VEN) - Hanoi’s Department of Information and Communications held an investment promotion conference in mid-August to call for investment in 12 start-up projects under the Hanoi Innovative Business Incubator of Information Technology (HBI-IT).

from classifying rubbish to e learning hanoi fuels startups
Twelve startup projects have been welcomed to the HBI-IT

According to head of the incubator’s management board Vu Tan Cuong, the 12 projects underwent three rounds of selection by the incubator’s advisory council.

Among them, the projects on information technology application in classifying rubbish, easy-learning application, and an e-commerce platform of online retail agents received investors’ attention.

HBI-IT director, Vu Tan Cuong, said the 12 projects have been highly rated in terms of practicality and commerce.

Department director Phan Lan Tu said Hanoi wishes to become the cradle of creativity and startups. HBI-IT provides startup businesses with opportunities to practice investment promotion and seek capital and investors, who play a crucial role in business incubation. HBI-IT and Hewlett-Packard Vietnam recently signed a cooperation agreement, under which Hewlett-Packard Vietnam will provide assistance for Hanoi’s startup system.

HBI-IT is the first facility of its kind founded by the Hanoi People’s Committee. It is managed by the Hanoi Department of Information and Technology. HBI-IT officially opened on January 9, 2017 and has been incubating many IT startup businesses operating in the fields of transportation, education and training, environment, social networking, e-commerce, and fashion, among others.

Hanoi has policies specifically designed for HBI-IT to encourage startup businesses with investors. Startup businesses in the HBI-IT are assisted in information and communications, have access to capital and legal assistance, benefit from the city’s domestic and international startup cooperation programs, and are prioritized in accessing capital from the city’s development investment and science and technology development funds. They can also benefit from preferential land rent policies.

The Hanoi Innovative Business Incubator of Information Technology has set a target of adding at least 12 startup projects within a three-year period, reaching a successful incubation rate of 70 percent.

Phuong Tam