Project helps develop tech business incubators in Vietnam
The Support to the Innovation and Development of Business Incubators Policy Project (BIPP), partly funded by the Belgian Government, has proved effective after nearly five years of implementation in Vietnam.
Hanoi (VNA) – The Support to the Innovation and Development ofBusiness Incubators Policy Project (BIPP), partly funded by the BelgianGovernment, has proved effective after nearly five years of implementation inVietnam.
Reportingthe main results of the project at a workshop in Hanoi on November 22, theproject’s director Tran Dac Hien said that over the past four years, the BIPPhas focused on science and technology enterprises and technology incubators,from popularising and analysing existing policies to building road maps fortechnological enterprise incubators for the 2015-2025 period.
It hashelped pilot the operation of many incubator facilities, as well as a financialassistance mechanism for these facilities and their consumers.
To date,all set targets have been fulfilled, Hien affirmed. However, he pointed toseveral difficulties and challenges when supporting small- and medium-sizedenterprises, including finance-related barriers and resource limitations.
BelgianAmbassador to Vietnam Paul Jansen said that the BIPP has supported theVietnamese Ministry of Science and Technology in creating favourable conditionsfor the formation and development of technology enterprise incubator facilities.
Proposalsfor a policy framework, following the operation of the National Centre forTechnological Progress-Technology Business Incubator Center (NTBIC) and the HoChi Minh University of Technology-Technology Business Incubation Centre(HCMUT-TBI), have contributed to building an innovative start-up ecosystem forthe development of the Fourth Industrial Revolution in Vietnam, he added.
At theevent, representatives from businesses, research institutes, universities, andcolleges in the science and technology field discussed their visions forbusiness incubator development, and shared experience in supplyinginfrastructure assistance and assistance services, and developing business andfinancial services to help incubator establishments develop sustainably.
Startingfrom 2014, the project had an initial investment of 4.4 million EUR (50.23million USD), of which Belgium contributed 4 million EUR. However, from 2016,with the budget adjustment from the Belgian Government, the amount was cut downto 2 million EUR to 2018. –VNA
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Illustrative photo (Source: VNA) 
