Key report on Vietnam innovation landscape to come out in December

Vietnam Open Innovation Landscape Report 2021 will be released in December

This is the first-ever inclusive report on the Vietnamese innovation ecosystem, developed by the one-stop innovation platform BambuUP with the support of the National Startup Support Centre (NSSC) of the Ministry of Science and Technology's (MoST) National Agency for Technology Entrepreneurship and Commercialisation Development (NATEC).

According to the General Statistics Office, there were 135,000 newly-registered enterprises and 3,000 startups in Vietnam last year. International organisations said that Vietnam is among top 3 most dynamic startups ecosystems in Southeast Asia.

In fact, along with the development of a startup ecosystem, an ecosystem of support and interaction among economic sectors to jointly innovate is gradually being established, shaping Vietnam's open innovation ecosystem.

They need comprehensive and up-to-date information about Vietnam's open innovation ecosystem, which helps startups innovative and businesses, domestic and foreign investors timely grasp the trends of innovation, new opportunities for cooperation and investment, and become greater than ever.

Nguyen Huong Quynh, CEO of BambuUP said, "During discussions and connection with businesses, startups, and investors, we realised that there are a lot of promising innovative solutions in Vietnam. So if startups can access financial support and opportunities to resolve the big troubles of businesses, they can benefit all sides and become the driving force of the economy. We hope that the report will contribute to the development of Vietnam's startups ecosystem and advertise it to foreign partners."

The Vietnam Open Innovation Landscape Report 2021 will provide comprehensive, multi-dimensional and updated information for state-run agencies, organisations, startups, enterprises, corporations, and investors to grasp the new and hottest trends.

It will also point out the trends of startups and innovation in Vietnam and over the world, analysis of innovation in some key industries, as well as the challenges and demands of startups.

A startup map across prominent economic sectors will be included in the report, including retail, fintech, edtech, health-tech, mar-tech and sales tech, sustainability, logistics, agritech and food-tech, and travel and tourism.

Representatives of ministries, organisations, and businesses attending the online launching event of the Vietnam Open Innovation Landscape

The COVID-19 pandemic has been a source of extreme economic challenges, pushing stakeholders towards technology and innovation to quickly resume operations after or even during the pandemic.

Pham Dung Nam, director of the NSSC said, "It is quite essential to adopt new mindsets for economic development at this time. This is contained in the three keywords: Innovation, Open, and Linkage, in order to mobilise the startup ecosystem to improve services, products, processes, and models, as well as further cooperation to create a larger value chain and stronger development."

The report is expected to be a foundation to promote and expand potential cooperation and investment opportunities among local and overseas startups, businesses, and investors. This will create a stronger push for innovation across economic sectors, contributing to active recovery and growth in the new normal. Information in the report will also be used to advise the government and policymakers in crafting development directions for the startup ecosystem and long-term open innovation.

John Kojiro Moriwaka, general director of Silicon Valley Ventures and CEO of Startup Grind Fukuoka said that the report would help investors, especially those from the US and Japan to learn more about startups in Vietnam. "I will cooperate with the one-stop innovation platform BambuUP to take the open innovation landscape of Vietnam to the world," he said.