Will university students in Vietnam in the academic year 2024-2025 receive start-up support?

Will university students in Vietnam in the academic year 2024-2025 receive start-up support?

Based on Section 2, Article 1 of Decision 1665/QD-TTg in 2017 approving the Scheme "Support students to start their own businesses until 2025," the applicable subjects include:

APPLICABLE SUBJECTS AND SCOPE

1. Applicable Subjects

- Pupils and students studying at universities, academies, universities, colleges, vocational schools, intermediate schools, and vocational education centers across the country;

- Staff, lecturers, teachers, and those supporting students at universities, academies, colleges, junior colleges, and vocational teachers at secondary schools and vocational education centers across the country.

2. Scope

- Universities, academies, colleges, junior colleges, secondary schools, and vocational education centers nationwide;

- Enterprises, investment funds, investors, and organizations or individuals inside and outside the country;

- Ministries, central authorities and local authorities, the Vietnam Chamber of Commerce and Industry, the Central Committee of the Ho Chi Minh Communist Youth Union, and related agencies and organizations.

Thus, according to the regulations above, university students will be supported to start their own businesses until 2025 according to the Government's support scheme.

Will university students in Vietnam in the academic year 2024-2025 receive start-up support? (Image from the Internet)

What are objectives of the plan to support university students in Vietnam in starting a business until 2025?

According to Section 1, Article 1 of Decision 1665/QD-TTg in 2017, the objectives of the scheme supporting pupils and students are as follows:

SCHEME OBJECTIVES

1. General Objective

To promote the entrepreneurial spirit among students and provide them with knowledge and skills on entrepreneurship during their study period at schools. Creating a favorable environment to support students in forming and actualizing their ideas and startup projects, contributing to job creation for students after graduation.

2. Specific Objectives

a) Objectives by 2020:

- 100% of universities, academies, colleges, and junior colleges have plans to implement student entrepreneurship support activities;

- At least 90% of students in universities, academies, colleges, junior colleges, secondary schools, and vocational education centers are informed, educated about entrepreneurship awareness, and equipped with entrepreneurship knowledge and skills before graduation;

- 100% of universities and academies, and 50% of colleges and junior colleges have at least two student startup ideas or projects supported by appropriate funding sources or connected with businesses or venture capital funds.

b) Objectives by 2025:

- Continue to promote awareness-raising, education, and equipping of entrepreneurship knowledge and skills for students;

- Strengthen the infrastructure for student entrepreneurship support centers at universities, academies, colleges, and junior colleges;

- 100% of universities and academies, and 70% of colleges and junior colleges have at least five student startup ideas or projects supported by appropriate funding sources or connected with businesses or venture capital funds.

Thus, the objectives of the student entrepreneurship support scheme are:

[1] Promote the entrepreneurial spirit among students and provide them with knowledge and skills on entrepreneurship during their study period at schools.

[2] Create a favorable environment to support students in forming and actualizing their ideas and startup projects, contributing to job creation for students after graduation.

Additionally, by 2025, the scheme aims to achieve the following:

[3] Continue to promote awareness-raising, education, and equipping of entrepreneurship knowledge and skills for students;

[4] Strengthen the infrastructure for student entrepreneurship support centers at universities, academies, colleges, and junior colleges;

[5] Ensure that 100% of universities and academies, and 70% of colleges and junior colleges have at least five student startup ideas or projects supported by appropriate funding sources or connected with businesses or venture capital funds.

What are funding sources for the student's startup support scheme in Vietnam?

According to Section 4, Article 1 of Decision 1665/QD-TTg in 2017, the responsibility for organizing the implementation of the scheme by the Ministry of Education and Training includes:

SCHEME IMPLEMENTATION FUNDING

1. Educational and training budget expenditure sources according to budget decentralization; embedded funding sources in educational and training programs, science and technology projects, and entrepreneurship support schemes approved by competent authorities.

2. Revenue from operational activities, student support funds, and operational development funds of educational and training institutions.

3. Donations and support from organizations and individuals inside and outside the country; other sources of private investment capital.

Thus, the funding for the student entrepreneurship support scheme comes from educational and training budget expenditure sources; revenue from operational activities, student support funds, and operational development funds of educational and training institutions; donations and support from organizations and individuals inside and outside the country; and other sources of private investment capital.