HCMC works with Israel on startup development

06:00 | 17/10/2020 Science - Technology

(VEN) - Ho Chi Minh City (HCMC) is cooperating with the Israel Innovation Authority to invest in startups in the city through the SpeedUp program.

hcmc works with israel on startup development
Ho Chi Minh City has been efficiently implementing the national project for startup development

Startup development

HCMC has offered training in productivity and quality administration and innovation for 3,142 enterprises in the city, provided consultancy related to quality and productivity improvement, and intellectual property management for 759 enterprises, supported 81 research and development projects, and provided technology innovation assistance for 15 projects through investment stimulus programs.

According to Nguyen Khac Thanh, Deputy Director of the Ho Chi Minh City Department of Science and Technology, the city has practical policies to promote startups. The Saigon Innovation Hub (SIHUB), the first state project for startup development in Vietnam, was founded in accordance with Decision 4181 of the city people's committee.

In keeping with the national project for startup development, HCMC established five startup promotion centers, connected 24 business incubators, and founded executive boards for startup management in the city’s key areas of information technology (IT), engineering, food and foodstuff processing, and plastics, rubber and chemicals. Almost 650 enterprises were created and many of them successfully raised capital.

HCMC-Israel cooperation

Since December 2018, the Ho Chi Minh City Department of Science and Technology has been implementing startup cooperation with Israel, which enjoys the reputation of a start-up nation. The department organized a delegation to Israel in order to learn from Israel’s startup development experiences. The delegation worked with the Israel Innovation Authority, Biohouse Center (a meeting point of Israeli medical and pharmaceutical technology companies), and Azrieli College (a leading engineering training facility in Israel). The department also sent delegations to universities in Israel for research information exchange and scientific research commercialization.

Nguyen Viet Dung, Director of the Ho Chi Minh City Department of Science and Technology said the department is working with the Israel Innovation Authority on startup policy research and development, training in intellectual property management and commercialization of scientific research results in universities. Other joint plans include incubator management training, startup exchange, participation in major startup activities in the two countries, and technology supply-demand connections focusing on artificial intelligence, robotics and high technology agriculture.

Deputy Ambassador of Israel to Vietnam Shirel Levi said incubation and investment programs for startups in Ho Chi Minh City, including SpeedUp, are efficient. Through the Israel Innovation Authority, Israel will provide US$10,000 for startups and accelerate them through the Ho Chi Minh City Department of Science and Technology’s SpeedUp program. The Israeli side wants the department to share cooperation programs between the city and other countries, including Australia and New Zealand.

Ngoc Thao