HCMC supports startups

HCMC supports startups – Image Source: Internet

Ho Chi Minh City has established a number of support and consultancy centers to help startups as part of its startup support program. The establishment of more than 20,000 enterprises in the first half of this year has proved the effectiveness of this program.

There are several co-working spaces in Ho Chi Minh City including Start, WORK Saigon, Cityhub, TheVentures, and Dreamplex. In June, the Ho Chi Minh City Center of Supporting and Enterprises Development launched a Startup Co-Working Space to provide a new, professional, modern, convenient, and friendly working place for startup enterprises.

Covering more than 800 square meters, the co-working space provides businessmen with free access to business management software, internet services, air-con, desks and chairs, refreshment bars and a reception area.

On a weekly or monthly basis, the center organizes workshops and training courses at which experts help businesses improve their management skills or learn about new legislations, and help business access capital and take advantage of trade promotion activities in the city. The Startup Co-working Space draws many startups.

Huynh Thi My, Secretary General of the Vietnam Plastic Association said “This is a cozy, exciting, and good working place for start ups. I believe that enterprises here will reap a lot of success.”

Ho Chi Minh City has supported approximately 440 startup projects and 670 enterprises and business groups, increased links between investors, and organized a number of trade exhibitions.

The Speedup 2017 Program that supports Startups has received 76 innovation startup projects. In the first half of this year, 20,000 enterprises with a total registered capital of VND276 trillion received business licenses.

Mr. Tran Vinh Tuyen, Vice Chairman of the Ho Chi Minh City People’s Committee said “We try to help enterprises with specific programs, not just capital and marketing. We created a mechanism to encourage enterprises to help one another, enterprises with capital and experience to help startup enterprises.”

Through such activities, Ho Chi Minh City hopes to have 50,000 enterprises established this year.

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