‘Techfest 2024 will create a turning point in the creative startup ecosystem’

Deputy Minister of Science and Technology Hoang Minh shared the above information at the press conference about Techfest 2024, on the morning of November 21. Techfest 2024 takes place over three days (November 26-28) in Hai Phong with many innovation activities.

According to Deputy Minister Minh, this year’s Techfest is an opportunity to transition to a new phase of the innovative startup ecosystem – the expansion phase. Therefore, the form, composition, and content have been adjusted compared to previous years.

Accordingly, in addition to the reports of ministries, branches and localities, this year there will be the participation in a core and clearer role of representatives of state management agencies abroad and corporations and businesses. big career.

“They will give insights into Vietnam’s ecosystem, provide headlines, and even funding sources to promote innovation,” Mr. Minh said.

Mr. Pham Hong Quat, Director of the Department of Science and Technology Market Development, Ministry of Science and Technology, added that the 10th Techfest Vietnam with the spirit of “Joining hands to develop Vietnam’s creative startup ecosystem “.

The festival includes many events such as a high-level policy dialogue forum, an exhibition of innovative startup products and services, a series of in-depth seminars on developing a creative startup ecosystem, and investment connection. Vietnam creative startup talent search competition.

Through the events, Techfest will evaluate the 10-year journey of forming the creative startup ecosystem in Vietnam and the development orientation in the new period. The festival also hopes to promote the ability to attract businesses, technological human resources, investment funds, domestic and international experts…

Mr. Quat said the goal is 8,000 people to attend Techfest this year, about 1,500 more than last year. However, the Ministry of Science and Technology predicts no less than 10,000 attendees because international innovation ecosystems are still registering continuously, with 5 days left for the festival.

Mr. Quat acknowledged that with the participation of large domestic and international corporations, Vietnamese startups will benefit a lot through topic setting, purchasing, and training activities by senior experts.

“We also expect Techfest to be a place to have more resources for product output, as well as a place to order, consume, and call for capital for startups to grow,” Mr. Quat expressed.

Mr. Hoang Minh Cuong, Vice Chairman of Hai Phong City People’s Committee, the co-organizer, informed that the city had carefully prepared very early to create the best space for the festival.

In addition to the main activities, Hai Phong will organize many side activities such as the opening of the innovation coffee program, the opening of a course on semiconductor chips for high-tech human resources, and the opening of government projects. Hai Phong city number…

“We hope to introduce to international friends and the science and technology community the dynamic, innovative city of Hai Phong, connect with other units, develop more businesses, towards the goal of The goal is to put Hai Phong on the list of 200 global innovation cities,” Mr. Cuong said.

In 2024, Vietnam’s creative startup ecosystem will rank 56th in the Global Startup Ecosystem Index ranking of Vietnam. Startup Blink. Hanoi and Ho Chi Minh City are among the top 200 global startup cities.

From 2017 until now, Vietnam’s Global Innovation Index (GII) has continuously improved, increasing from position 59 in 2016 to 44 this year. Vietnam’s GII results this year have three leading indexes in the world, including leading the creative goods export index for the first time.

Venture capital in Vietnam tends to develop well as shown by the index of Number of venture capital deals, improving from ranking 77 in 2022 to ranking 50 this year, the index of Number of deals receiving investment capital. Venture capital increased 10 places after 3 years, to position 44.

Techfest contributed greatly to the above results. The Ministry of Science and Technology said startups participating in Techfest every year receive professional training and participate in global competitions. Many startups have called for capital from 0.5 to more than one million USD, highly appreciated by world investors.

Techfest Vietnam was first held in 2015, becoming an annual activity coordinated by the Ministry of Science and Technology with organizing units. After 9 years, Techfest has become an important event, attracting the attention of policy-making agencies, managers, businesses, creative start-up support organizations, and domestic and international investment funds. international, contributing to affirming Vietnam’s position on the global creative startup map.