Techfest Vietnam 2022 gives a boost to innovative solutions

19:49 23/03/2022

The National Innovative Entrepreneurship Day (Techfest Vietnam 2022) was launched on March 22 to promote innovative solutions from start-ups amid strong technology development, thereby attracting greater resources from domestic experts, intellectuals, entrepreneurs, and overseas Vietnamese.

The annual event provides a significant platform for Vietnamese innovative start-ups and is jointly organised by the Ministry of Science and Technology and other agencies and localities.

As part of his address at the launching ceremony, Deputy Minister of Science and Technology Tran Van Tung said over the past two years the COVID-19 pandemic has had a profound impact on all aspects of both the local economy and society, negatively affecting the development of the innovative startup ecosystem. Therefore, it requires more determination than ever, consensus, and concentration of resources to overcome the  challenging period, he said.

The pandemic has also limited the ability to access international resources, as well as disrupting interaction and business exchanges. However, it is also viewed as a driving force behind innovation and creativity whilst offering opportunities for the application of science, technology, and innovation, Deputy Minister Tung said.

Last year witnessed the national innovative startup ecosystem attract over US$1.5 billion, the highest amount of investment capital recorded. This represents clear evidence of the potential and capacity of Vietnamese intellectuals, the Deputy Minister said, adding that this impetus needs to be incentivized to develop a new wave of innovation as a contribution to economic recovery and development moving into the post-pandemic era.