Techfest 2018 showcases innovative startups

11:01 | 10/01/2019 Science - Technology

(VEN) - Techfest 2018 is an annual event showcasing innovative startups.

techfest 2018 showcases innovative startups
Pham Hong Quat (left), head of the National Agency for Technology Entrepreneurship and Commercialization Development, talks with a partner

Techfest 2018 was held in late November in the city of Da Nang with the participation of the prime minister and senior officials from international forums and organizations, especially the Global Entrepreneurship Network (GEN) - the world’s largest startup network.

This year’s theme was “Vietnam startup towards international scale”. Participants shared the experiences and policies of other countries in the region in terms of innovative startups, with a view to applying them in the national innovative startup ecosystem. Techfest, one of the largest startup events in the country, is designed to create connections for domestic and foreign stakeholders in the startup ecosystem.

The annual event launched in 2015 has drawn the attention of the international startup community and various foreign investors. It has attracted 40 investment foundations creating 40 business incubator centers and 60 co-working spaces nationwide.

Techfest 2018 hopes the ASEAN startup ecosystem will serve as a startup and expert exchange programs in 2019. The national innovative startup ecosystems of other countries are very good, and have networks to link with Vietnamese startups. Therefore, the role of overseas Vietnamese is very important.

Legislators in Hanoi are drafting the framework of a national project to promote the development of a startup ecosystem by facilitating a wide range of supporting activities including training, mentorship, business incubation and acceleration, and by providing financing to aid in the growth of new companies.

The government and local agencies play an important role in creating specific and favorable mechanisms and policies, providing human resources, and offering financial support for the startup ecosystem. State management agencies are also tasked with connecting support organizations and creating a startup culture in accordance with national goals.

Startups in Da Nang are flourishing, with support policies creating good conditions for their development. Many organizations see the potential of Da Nang startups, especially those in tourism, artificial intelligence, blockchain, new payment services, and logistics.

Xuan Hoai