What are details and amounts of spending on development of physical infrastructure and technical facilities necessary for innovative startups in Vietnam?

Pursuant to Article 7 of the Circular 45/2019/TT-BTC (takes effect from 05/9/2019) stipulating details and amounts of spending on development of physical infrastructure and technical facilities necessary for innovative startups in Vietnam as follows:

1. Financial support or subsidies may be given to partially offset costs incurred from the upgradation of physical infrastructure and technical facilities of several incubators, business accelerators and organizations providing co-working equipment for startups and innovative enterprises:

a) Beneficiaries of subsidies and other financial support prescribed in this clause must meet requirements set out by the Ministry of Science and Technology concerning incubators, business accelerators and organizations providing co-working equipment for startups and innovative enterprises.

b) The in-charge unit must prepare and manage projects in upgradation of technical facilities under regulations laid down in current legislative instruments. Total estimated subsidies offsetting costs of upgradation of physical infrastructure and technical facilities shall not exceed 30% of total expenditures on implementation of projects approved by competent regulatory authorities.

2. Subsidies or other financial support for carrying out the tasks of providing counsel on establishment of science and technology business incubators or establishment of entities and points of contact for incubation of technologies, science and technology enterprises shall not exceed 80,000,000 dong/task/enterprise. Counseling contents must follow specific instructions from the Ministry of Science and Technology.

Above are details and amounts of spending on development of physical infrastructure and technical facilities necessary for innovative startups in Vietnam.

Best regards!