On October 22nd 2015, in Hanoi, the workshop on “Efficiency of attracting venture capital for technological innovation for enterprises in Vietnam” was hold by the Center for Vietnam Science and Technology Internationalization Promotion (VISTIP) belonging to the Ministry of Science and Technology (MOST).
Participants included representatives from different institutions/ agencies of MOST, the Ministry of Planning and Investment, the Ministry of Agriculture and Rural Development, Vietnam Chamber of Commerce and Industry, departments of Science and Technology of some provinces (Hai Phong, Hai Duong, Ho Chi Minh, Can Tho…), enterprises and funds, such as Vietnam Startup Foundation, TOPICA, FPT ...
The workshop was lead by Mrs. Bui Thi Huy Hop – Deputy Director of VISTIP and Dr. Nguyen Minh Phong – an Expert of Economy, Nhan Dan Newspaper.
The workshop’s presentations and comments focused on clarifying concepts and international experiences of venture capital; sharing information; exchanging experiences of how to approach, attract, deploy and use the venture capital for the technological innovation for Vietnamese enterprises.
Presenting the priority sponsoring direction from Vietnam Startup Foundation (VSF), the Director Pham Duy Hieu emphasised that VSF shall prioritize projects which have desire of contribution for socio-economic development and community.
Mr. Pham Hung – Co-founder, CEO of TechElite Inc – One of nine startup groups receives investment by the MOST’s project of Vietnam Sillicon Valley supposed: “Gaining the venture capital is not seen as the success yet, it is just a target that you have to overcome”
Sharing with this point of view, other successful enterprises in attracting the venture capital such as CocCoc, Vietcreative… affirmed that it is necessary to manage the capital by principles established by investors and ensure the credibility with sponsors.
The economist Nguyen Minh Phong confirmed that the demand of capital for developing science and technology is growing, while the capital from enterprises, state budget, credit institutions is still limited. In this context, the venture capital is extremely precious for S&T enterprises. The State and relevant authorities should give advantage for developing this kind of capital which may support the enterprises and inventors to have more opportunities for realize their creative ideas as well as build up the S&T capacity of Vietnam.
Some of photos at the workshop