Ho Chi Minh City Creative Startup Center: A Hub for Innovation and Growth, but Still Facing Challenges

This Year, the Creative Startup Center in Ho Chi Minh City is in Operation

The Ho Chi Minh City Creative Startup Center is a public service unit managed by the city government that serves as a focal point for connecting, organizing activities, and providing support services for the innovative startup ecosystem. Located at 123 Truong Dinh, District 3, the building consists of 11 floors, with 8 above ground and 3 underground. The first three floors will host state support activities for innovative startups, while floors 4 to 8 are expected to attract private sector participation in developing the startup ecosystem in the city’s priority areas.

The center’s space and operating model are designed to be open and easily accessible to the community and businesses seeking information on Ho Chi Minh City’s startup ecosystem. Additionally, the center operates an online platform (HOIP) where businesses and startups can register and participate in the city’s support policies. The Department of Science and Technology of Ho Chi Minh City is also working on research orders to build an annual report on the city’s innovative startup ecosystem, along with other initiatives to support entrepreneurship and innovation.

Despite these efforts, an analysis of Vietnam’s innovation startup ecosystem in 2023 conducted by World Bank experts highlighted several shortcomings. These included low-quality state policy support, lack of risk investment mechanisms, complicated administrative procedures, and a lack of quality training programs for startups on improving management capacity and operating startup businesses. These issues were discussed at a recent meeting of the Executive Board of the Project “Supporting the national innovation startup ecosystem until 2025” organized by the Ministry of Science and Technology, where participants proposed the need for a legal framework to support innovation centers and creative startups nationwide.

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