HCMC’s creative startup projects to be supported 400 million VND

Delegates at the 12th session of the 10th Ho Chi Minh City People's Council for the period 2021-2026 (Photo: vneconomy.vn)

This is one of the policies specified from Resolution 98 of the National Assembly on piloting a number of specific mechanisms and policies for HCMC’s development.

According to the HCMC People's Committee, the number of businesses operating in the city is about 538,000 units, of which creative start-up businesses are 1,986 units.

HCMC People's Committee identified priority areas including: e-commerce; financial technology; logistics; educational technology; medicine and health care; high-tech agriculture; sustainable development; digital transformation; and Internet security.

For innovation and creative start-up projects in the pre-incubation stage, HCMC People's Committee will support 40 million VND per project and the support period will not exceed 6 months/project. At the incubation stage, each project will be supported 80 million VND/project and its support period is not more than 12 months/project. In the acceleration phase, the support level is 400 million VND/project and its support period is no more than 12 months/project.

The total estimated capital allocated to support innovative start-up activities in 2023 is about 17 billion VND and the budget to implement this policy in the next 5 years is about 210 billion VND.

The promulgation of this policy aims to promote the formation and development of more and more creative start-up businesses in HCMC from the application of science and technology, and creative innovation to commercialization of science research results./.