Connecting Viet Nam – US Innovation

Attending the event, on the US side were Mr. Ted Osius – the US’s Ambassador in Viet Nam, Mr. David Thorne – Senior Advisor of the US Secretary of State together with representatives from the US’ corporations, businesses and risk venture funds.

On the Vietnamese side were Mr. Trần Văn Tùng – Deputy Minister of Science and Technology; representative leaders of agencies under MOST. Especially, the event had the participation of more than 25 innovation start-ups, investors, and representatives from some research institutes, universities and individuals together with domestic and foreign mass media agencies.

In 2015, Viet Nam achieved encouraging development steps in comparison with nations of the similar economic scale; its global innovation index increased 19 steps; and its global competitiveness index increased 12 steps. With the fact that the domestic and international context have created many challenges for Viet Nam’s business community in the fast and sustainable economic development, Viet Nam would need a strong business force, which support the development in a favorable and healthy innovation and start-up ecosystem.

Deputy Minister Trần Văn Tùng said that over the past year, MOST has taken efforts to improve policies on supporting the development of start-up ecosystem in Viet Nam; encourage the private sector to establish risk venture funds in order to create a favorable legal and financial environment for promoting the development of technology incubations, business incubations, training on start-ups and organize many activities to support young start-ups to set up innovation businesses with high growth rate.


In 2013, MOST implemented the project on “Viet Nam Silicon Valley” with purposed of commercializing technologies according to the model of Silicon Valley, directly having impacts on establishment of start-ups, improving the competitiveness of Viet Nam’s innovation businesses in the digital economy. In 2015, Viet Nam Start-up and Technology Festival - TechFest Viet Nam was organized as a playground for every sector to participate in the technology start-up ecosystem to promote businesses to be established and successfully developed. These were 2 among many programs in which young businesses in Viet Nam could find support from the State, organizations supporting start-ups and investors.

Currently, MOST has continued to focus its efforts in developing the start-up ecosystem to create momentum for the development of Viet Nam’s businesses. In 2016, MOST would organize the second TechFest for organizations and individuals who are interested in technology. In addition, MOST together with the Ministry of Planning and Investment would focus on developing the legal framework on risk venture and supporting starts-up, implementing the proposal on supporting the national innovation business start-up ecosystem by 2025.

In 2016, strengthening cooperation in the S&T field between Viet Nam and the US would contribute to promote the development of start-up ecosystem in Viet Nam, bring in many opportunities and real values for the start-up community and have strong and active impacts on the establishment of Viet Nam’s healthy start-up and innovation ecosystem, Deputy Minister Trần Văn Tùng emphasized.


Delivering a speech in the above-mentioned event, Mr. Ted Osius – the US’s Ambassador in Viet Nam said that the US recognized contributions of MOST and the Government of Vietnam in fostering and development the start-up ecosystem in Viet Nam. The meeting today was to blow strongly the innovation fame in Viet Nam, contributing to foster and encouraging the development of start-up communities in Viet Nam.


Mr. David Thorne – Senior Advisor of the US Secretary of State emphasized that they hope Viet Nam would receive significant benefits from the development of start-up and innovation spirits as the US has. The Program on “Viet Nam Silicon Valley and establishment on incubation organizations in universities are proper steps. Through this event, we hope to promote the young generation of the two countries together innovate, reform and move the economies to have investment and development opportunities.