Vietnam has a huge young population that is very active on internet, mobile and with highly national enthusiasm for technology, startups and entrepreneurship, and as a result, vietnamese startup ecosystem is rapidly growing in cities like Ho Chi Minh, Hanoi and Da Nang, aiming to become a modern industrialized state by 2020.
In order to achieve that, the national government has planned to develop a functioning national innovation system, fostering its startup ecosystem and supporting the growth of innovation via Startups and SME’s. The project has set the following targets for 2020:
Complete the main legal framework for a startup ecosystem; run an online portal for the National Innovative Startup Ecosystem; support about 800 startup projects and 200 startup enterprises, of which 50 will raise follow-on investment from private venture investors or will undergo mergers and acquisitions worth about 1 trillion VND (about 50 million USD). By 2025, the project is expected to have supported 2,000 startup projects and 600 startup enterprises, of which 100 will have raised follow-on investment from private venture investors, or will have undergone mergers and acquisitions worth about 2 trillion VND.
One of the key challenges in this work is to maintain a holistic picture of the constantly developing and evolving ecosystem and measure the results of different actions and sub projects and to share these openly for the benefit of everyone in the ecosystem.
Startup Commons team, due to our proven international track record on startup ecosystem development, supporting tools and holistic digital ecosystem solution used by ecosystems, was selected to carry out this national pilot project.
The collaborative work for Vietnam digital ecosystem is being conducted step by step in very transparent manner to achieve consensus and solid progress within the key stakeholders of innovation ecosystems and it has been splitted into three different phases:
- Feasibility of the solution, June 2016
- Implementing and piloting the solution, July 2016
- Testing, iterating and scaling
As we are moving to actual pilot phase to implement digital ecosystem solution in Vietnam context, by setting up the base version with geographical scoping in Da Nang, Hanoi and Ho Chi Minh ecosystems, along with Vietnam national ecosystem to showcase these local startup ecosystems and Vietnam as a whole also for further deployments, implement related communication framework and roles to support the platform at core level, define needed key operative roles needed to support the development and management of the different ecosystem functions at different levels, train and empower local teams and people to key roles to take “ownership” of the key functions, showcase how platform implementation and different development tracks can be managed to further accelerate the progress, and support in finding a good balance for PPP (Public Private Partnership) regarding the digital platform in different cities going forward. And eventually, to pass on the ownership and core responsibility of the platform the logical entity, entities or consortium to conclude the pilot phase.
Read the whole case study at Startup Commons Blog.