However, to achieve this goal, the city must synchronise its policies and, above all, undergo a “revolution” in its approach to supporting start-ups.
The “cradle” of science and technology in Viet Nam
In recent years, activities in science, technology, start-ups, innovation, and digital transformation in Ho Chi Minh City have received strong leadership attention and achieved significant results, making the city the country’s “cradle” of science and technology and contributing to socio-economic growth.
The city’s start-up and innovation ecosystem continues to grow, moving closer to joining the group of the world’s 100 most dynamic innovation ecosystems.
With the view that science and technology are the foremost breakthroughs and key drivers for rapid development in the new era, Ho Chi Minh City has been investing substantial resources in science, technology, digital transformation, and the development of an innovative start-up ecosystem.
To foster the start-up and innovation movement, in 2024 alone, the city implemented a number of support policies, attracting more than 2,810 projects to participate in competitions and incubation programmes. Prominent contests included Startup Wheel with over 1,020 projects; Viet Nam Youth Startup with 1,324 projects; and the Green Startup – Innovation Contest 2024 with 199 projects.
In addition, the city supported the incubation of over 230 start-up and innovation projects (209 pre-incubation/incubation projects and 24 acceleration projects), providing opportunities for potential ideas to grow and be commercialised.
According to Tran Ninh Dong, Acting Head of the Division of Intellectual Property Management and Innovation under the Ho Chi Minh City Department of Science and Technology, to develop human resources for the innovative start-up ecosystem, the Department has submitted a proposal for a pilot Start-up University Model for the 2025–2028 period. The initiative is a major policy to promote university-based start-up communities and contribute to the city’s broader innovation goals.
At the same time, the Department is designing programmes to enhance the capacity of incubation centres and other entities that support start-up and innovation activities.
Creating momentum for breakthrough entrepreneurship
By 2030, Ho Chi Minh City aims to consolidate its position as a leading start-up and innovation hub in the region. The city targets having 40% of its businesses engaged in innovation, raising the commercialisation rate of research and development results to 8–10%, and establishing 5,000 innovative start-ups.
Experts note that although Ho Chi Minh City is regarded as the “cradle” of science and technology and has a growing innovation ecosystem, progress has yet to reach a breakthrough due to slow policy reform in science and technology, as well as limited collaboration between research institutes, universities, and enterprises in science, technology, innovation, and digital transformation.
The city still faces challenges in attracting talented experts and scientists, lacking strong research teams and leading specialists capable of driving new research directions or managing international-level projects. To achieve its ambitious goals, the city needs to synchronise solutions to effectively support and boost the innovation ecosystem.
Among the initiatives, the Ho Chi Minh City Innovation Start-up Centre, recently inaugurated and put into operation by the Department of Science and Technology, provides an ideal space and environment for the start-up community, hosting networking and policy support activities.
According to Decision No. 4335/QD-UBND of the Ho Chi Minh City People’s Committee on the establishment of the Centre, it functions as a hub connecting resources within the city’s start-up and innovation ecosystem, nationally and internationally.
The Centre also disseminates State policies on innovation and start-up support to the start-up community and serves as a focal point for international cooperation in innovation and entrepreneurship with global technology organisations and corporations.
The Ho Chi Minh City Department of Science and Technology is developing programmes to strengthen the capacity of incubation centres, as well as organisations engaged in supporting innovative start-up activities...
Tran Ninh Dong, Acting Head of the Division of Intellectual Property Management and Innovation under the Ho Chi Minh City Department of Science and Technology
Additionally, the Centre promotes innovation in the public sector, organises and implements ecosystem support activities, provides related services, and engages in scientific research, technology development, application, and transfer.
Lam Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology, stated that Resolution No. 57-NQ/TW on breakthroughs in national science, technology, innovation, and digital transformation provides a strong impetus for the city to continue its strategic direction in the coming period.
Ho Chi Minh City regards science, technology, innovation, and digital transformation as its primary and new driving forces for development in the new era.
