April 20, 2024 4:48 am
This Year, the Creative Startup Center in Ho Chi Minh City is in Operation

The Ho Chi Minh City Creative Startup Center building, with an area of over 17,000 m2, is set to open in the third or fourth quarter of the year. This information was shared by Ms. Phan Thi Quy Truc, Deputy Head of the Technology Management and Technology Market Department at a conference on deploying innovative startup activities in the city on April 3.

The building, located at 123 Truong Dinh, District 3, has been under construction for more than three years. It consists of 11 floors, with eight above ground and three underground. The lower floors will house state support activities for innovative startups, while the upper floors are intended to attract private sector participation in developing the startup ecosystem in the city.

According to Ms. Truc, the Creative Startup Center is a public service unit managed by the Ho Chi Minh City government. It serves as a focal point for connecting and organizing activities as well as providing support services for the innovative startup ecosystem. The center is considered a hub that drives the formation of a network to support creative startup activities in various sectors connected to Ho Chi Minh City.

The center’s space and operating model are designed to be open and accessible to the community and businesses, allowing them to easily access information related to Ho Chi Minh City’s startup ecosystem. The center is also responsible for operating the online platform (HOIP), which centralizes the ecosystem’s data system for businesses and startups to register and participate in the city’s support policies.

Despite progress made in supporting innovative startups in Ho Chi Minh City, there are still some shortcomings in the domestic ecosystem. A report conducted by a group of World Bank experts highlights issues such as low quality and level of state support policies, lack of risk investment mechanisms, and complicated administrative procedures. These challenges underscore the need for continued attention and coordination with

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