With the objectives to create a favorable conditions for the development of enterprises that have potentials for rapid growth by utilization of propriety assets, technology and business initiatives, on May 18, 2016, the Prime Minister signed the Decision No. 844/QD-TTg approving the “assistance policies on national innovative startup ecosystem to 2025”.
The beneficiaries include individuals or groups having startup projects or startups that may be potential for rapid growth by utilizing propriety assets, technology and new business initiatives; or startups operating for not exceeding 05 years from date on which the first enterprise registration certificate is issued; organizations that supply services, facilities, technical infrastructure, telecommunications services and provide investment in startups and satisfy requirements such as the head of such organization works in the field of investment and finance consultation, and enterprise development facilitation for at least 01 year; the organization operates for at least 01 year and provides services for at least 10 startup groups and invests in or mobilizes the amount of capital of at least 01 billion dong for startups in Vietnam; the organization introduces a specific procedure for assistance in startups according to their functions and responsibilities and cooperation agreements on provision of training and consultation for Startups in Vietnam with domestic and overseas entities.
Besides, the Prime Minister emphasizes to construct centralized startup assistance service centers in provinces that have potentials for development of startup activities, by funding part of repairing costs for working space (available space..) at favorable location such as near universities, financial institutions, etc. and applying concessional charges for the use of such infrastructures; funding for the installation of information technology infrastructures and providing complementary Internet services in such centers; to fund part of startups’ labor salaries and services charges such as: startup training, marketing, product and services promotion, technology and patient application, financial assessment, assessment of scientific research findings, technology innovation and propriety assets, legal consultation, investment in and establishment of science and technology enterprises, commercialization of scientific research finding, technology and propriety assets.
By 2025, it is expected to have 2,000 startup projects; 600 startups and 100 startups under the Scheme financed by venture investors with the estimated amount of 2,000 billion dong.
The Decision takes effect on the signing date.
