Hanoi (VNA) – The COVID-19 pandemic,which has touched every aspect of society, has failed to cool down thestartup and innovation spirit but, on the contrary, created major influence, contributing to economicdevelopment and recovery, according to insiders.

Vietnam’s blooming startup and innovationenvironment is attributable to efforts by the Government and relevantministries, sectors and communication agencies, especially the Vietnam NationalInnovation Centre (NIC) under the Ministry of Planning and Investment, they said.

In an interview to the Vietnam News Agency(VNA), Nguyen Thi Ngoc Dung, a representative from NIC, said domesticenterprises are aware of innovation, particularly following the pandemic fight.

Genetica’s founders graduated from leading USuniversities, said Dung, who has worked to persuade the firm to set up its SoutheastAsian headquarters in Vietnam.

Cao Anh Tuan, Genetica Co-founder and CEO, said hisfirm initially picked Singapore to open the centre in, but later selected Vietnam insteadafter his first meeting in the US with Minister of  Planning and Investment Nguyen Chi Dung who assured him that the Vietnamese Government will create the best possibleconditions for scientists returning home from the US.

The Genetica centre at the NIC building is designedto the standard of US-based labs, the most rigorous forgenetic testing in the world. Accordingly, Vietnam will be one of very fewSoutheast Asian countries running CAP (College of American Pathologists) andCLIA (Clinical Laboratory Improvement Amendments) standard genetic testing laboratories.

More importantly, Genetica's genre sequencing resultsare accepted worldwide, allowing users to decode once and apply for a lifetime.

Last year, Vietnam ranked 44th on the globalinnovation index. The country's startup ecosystem also claimed the 59th position out of the 100 countries. Vietnam has been ranked third by internationalorganisations in the group of the three most dynamic innovative startup ecosystemsin Southeast Asia, only after Indonesia and Singapore.

Dung suggested changes in the mindset of policymakingand the adaptation of new business models and new technologies as innovationand startup is intended to create breakthroughs that can influence thesociety.

Tuan also emphasised three factors to thedevelopment, innovation and creation of startups, namely human resources,connectivity with mentors and partnerships with support networks (peer coaching).

Despite such encouraging results, Vietnam’sinnovation environment still needs to be consolidated. Cooperation betweenstakeholders will continue to create opportunities for domestic businesses toconnect, utilise and boost financial strength, improve knowledge and humanresources, and create products, services and useful development platforms forthe community./.