Thursday, 18 Jan 2018

Opening TECHFEST 2017: Connecting start-up ecosystem

Updated at Tuesday, 14 Nov 2017, 17:11
The Hanoitimes - From November 14 - 15 in Hanoi, the Ministry of Science & Technology along with related ministries have jointly held the TECHFEST 2017.
TECHFEST is one of the largest National annual festivals for the entire Vietnam startup ecosystem’s stakeholders attracting nearly 4,500 visitors. TECHFEST 2017 with theme “Ecosystem connect” will be divided into 7 startup villages based on technology areas: Community, Agritech, Edtech, Medtech, Tourism and F&B, Emerging tech and Frontier & Fin Tech.
The Deputy Prime Minister Vu Duc Dam gave a speech at the event.
The Deputy Prime Minister Vu Duc Dam gave a speech at the event.
With the representatives of Government and many important ministries in startup ecosystem, TECHFEST 2017 will bring attendees information of program and policies from Government. Coming to this event, visitors also have opportunity to learn about and update trends of frontier and fin tech such as Artificial Intelligence – AI, Internet of Things – IoT, Blockchain, etc. 

TECHFEST 2017 with diversified information from investors, startups, and startup supporting organizations participating to the event is aimed to match the demands of many compositions of startup ecosystem. Additionally, the program of this event is divided into 07 different fields, including community, agritech, edtech, medtech, tourism and food & beverage, frontier and fintech and emerging tech that helps investors and startups find out information easier.  

As such, the event is expected to attract more than 100 angel investors and venture capital firms that creates connection between startups and investors, large enterprises, corporations and startups supporting organizations through two main activities, including business matching and networking party. Besides, TECHFEST 2017 creates an event with international brand where startups can meet and get access to angel investors and venture capitals in order to develop their products or services. Additionally, investors are able to find out potential startups through business matching activity. This event is expected to attract more than 100 angel investors/venture capital firms, around 200 startups and above 250 invest matching. 

Each startup village will develop its own programs to attract visitors, such as specialized discussions and workshops. According to the Vice Minister of Science & Technology Tran Van Tung, if 2016 is considered to be the year of start-up nation, 2017 is when the start-up spirit is spreading strongly among business community. According to the Ministry of Science & Technology, 2017 marked the start-up campaign growing strong nationwide. As such, innovative start-up did not mean the effort of a certain ministry or administrative agency, but to spread among numerous ministries, agencies, provinces, political – social organizations and associations. Many provinces, cities have a high number of start-ups such as Hanoi, Ho Chi Minh, Danang, Dong Thap. 

Ho Chi Minh is one of the pioneers in Vietnam implementing the Decision No. 844 of the government with regard to the proposal of “supporting the national innovative start-up ecosystem until 2025”. So in order to support small and medium enterprises (SMEs) in the innovating process, improving competitiveness and integrating globally, Ho Chi Minh has implemented the program supporting innovation and start-ups. TECHFEST 2016 with the attention of more than 100 investors and 70 startups turning up to the event created 250 business matching, brought opportunity for startups to get access to financial resources. 

Startups and investors have the opportunity to improve their capacity though several pre-matching workshop series in TECHFEST like Hi-tech Konec – expert – small and medium enterprises (SMEs) – startups matching event to encourage SMES to invest in startups. TECHFEST 2017 is expected to attract 200 startups,100 local and international investors and 250 business matching.
Ngoc Thuy
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