With the continuous development and emerging practical demands of the innovative startup ecosystem, the Executive Board of the "National Program to Support an Innovative Startup Ecosystem until 2025" (Project 844) has voted and agreed on the implementation plan for the next phase. The focus will be on comprehensively improving the policy and legal framework for innovative startups in a synchronized and unified manner, deepening the ecosystem, and fostering sectoral, local, and industry-specific development. Additionally, innovation and startup support centers will serve as the core drivers of ecosystem growth.
On March 28, 2024, the Executive Board of Project 844 held a plenary meeting to evaluate the program’s achievements in 2023, approve the 2024 action plan, and outline strategic directions for the coming years. The meeting was chaired by Mr. Hoang Minh – Deputy Minister of Science and Technology and Chairman of the Executive Board of Project 844 – with the participation of central government leaders, representatives from various ministries, local authorities, socio-political organizations, experts, and reputable startup support organizations who are members of the Executive Board.
The 2024 meeting of the Project 844 Executive Board holds significant importance as 2025 marks the final year of the program’s implementation. It will require a comprehensive review and assessment of the project’s results as well as Vietnam’s innovative startup ecosystem from 2016 to 2025. Based on these insights, new national programs will be formulated to address practical demands in the next phase.
The period from 2022 to 2023 was globally challenging, marked by post-COVID-19 economic recovery efforts. Despite these difficulties, Vietnam’s innovative startup ecosystem continued to advance through policy development, international resource mobilization, and the growth of startup activities across industries and localities. In 2023, Vietnam maintained its ranking within the top 60 in the Global Startup Ecosystem Index (StartupBlink) but dropped four places from 54th in 2022 to 58th in 2023. However, the country retained its rankings in the Asia-Pacific region (12th) and Southeast Asia (5th).
Currently, numerous startup support organizations have emerged across the country, originating from the private sector, public sector, and international institutions, each operating under various models. National programs and initiatives, approved by the Prime Minister and implemented by ministries, local authorities, and socio-political organizations—including Project 844, the Women’s Startup Support Program (Project 939), the Student Startup Support Program (Project 1665), and the Youth Startup Support Program—have been actively executed. These programs collaborate to build a sustainable and comprehensive innovative startup ecosystem.
In the next phase, effective policy implementation will require a well-defined legal framework, particularly in clarifying the concepts of innovation and innovative startups. Regulations concerning organizational types, roles, and functions must be established. The Executive Board of Project 844 has discussed and proposed key incentive policies to address challenges faced by innovative organizations and startups across ministries, local governments, educational institutions, socio-political organizations, businesses, and corporations in a holistic, synchronized, and unified manner.
Special attention has been given to mechanisms and policies that attract venture capital investment, unlock domestic and international financial resources, and foster open innovation. Additionally, tailored financial policies for training and incubation programs for startups are essential.
Another key discussion point was the establishment, promotion, and expansion of a nationwide network of startup support and innovation centers. Since public sector centers are primarily state-owned non-business units, careful consideration is needed regarding operational structures, management mechanisms, and government support policies to ensure their effectiveness.
In 2024, Vietnam will also host the National Innovation Startup Festival (TECHFEST VIETNAM 2024) in Hai Phong, marking the 10th anniversary of the Ministry of Science and Technology's efforts in organizing this initiative.
Based on these discussions, the Executive Board has agreed to evaluate Project 844’s implementation from 2024 to 2025 and submit a proposal to the Prime Minister for a national program to develop Vietnam’s innovative startup ecosystem for the period 2026–2035.
Duong Ngoc Anh