What is implementation of choosing startup SMEs in Vietnam?

1. What is implementation of choosing startup SMEs in Vietnam?

Pursuant to Article 14 of Circular 06/2022/TT-BKHDT, hoosing startup SMEs shall be carried out as follows:

1. Agencies and organizations providing assistance for SMEs shall choose startup SMEs to provide assistance in accordance with Clause 1 Article 21 of Decree No. 80/2021/ND-CP based on the following documents:

a) Certificates of national, international awards for business startup or startup products, projects. The certificates must be awarded within 5 years prior to the date on which SMEs apply for assistance;

b) Patent of inventions or science technology enterprise certificates or hi-tech enterprise certificates as long as these documents are still effective at the time SMEs apply for assistance.

2. Agencies and organizations providing assistance for SMEs shall choose startup SMEs to provide assistance in accordance with Clause 2 Article 21 of Decree No. 80/2021/ND-CP based on the following documents:

a) Capital contribution agreements or documents verifying minimum investment of startup investment fund of 1 billion VND; investment must take place within 5 years prior to the date on which SMEs apply for assistance;

b) Written commitments of startup investment funds for a minimum investment of 500 million VND; the commitment must be produced within 1 year prior to the date on which SMEs apply for assistance;

c) Written confirmation or contracts indicating ongoing assistance for startup SMEs of common workspaces, business startup enterprises, service providers, incubation facilities, business promotion facilities, business startup centers; or written commitments or contracts indicating incoming assistance for SMEs. assistance must be confirmed, guaranteed within 6 months prior to the date on which SMEs apply for assistance.

3. Agencies and organizations providing assistance for SMEs shall choose startup SMEs in accordance with Clause 3 Article 21 of Decree No. 80/2021/ND-CP on the basis of decision of the Council regarding eligibility of SMEs for assistance.

2. What is startup SME assistance in Vietnam? 

According to Article 15 of Circular 06/2022/TT-BKHDT, startup SME assistance is regulated as follows:

Startup SMEs shall receive assistance in accordance with Article 22 of Decree No. 80/2021/ND-CP. Agencies and organizations providing assistance for SMEs shall provide assistance in accordance with Article 4 and Article 5 of this Circular and the following regulations:

1. Assist learners of SMEs to participate in advanced training in Vietnam and foreign countries under Clause 2 Article 22 of Decree No. 80/2021/ND-CP, including: tuition, materials, accommodations, meals, travel (including plane tickets).

Short-term advanced training courses in foreign countries include: developing products; commercializing products; developing e-commerce; attracting investment; developing market; connecting startup network and other details depending on demands of startup SMEs.

2. Assist learners to maintain accounts on e-commerce platforms under Point c Clause 6 Article 22 of Decree No. 80/2021/ND-CP, including:

a) Regarding e-commerce platforms in Vietnam: payment fees, fixed fees, and service fees paid by the sellers to e-commerce platforms.

b) Regarding international e-commerce platforms: fees of seller account, referral fee, order completion fee, storage fee, product bar code registration fee, product design and photography costs, and advertising costs.

3. Assist SMEs to participate in international competitions regarding business startup in accordance with Point dd Clause 6 Article 22 of Decree No. 80/2021/ND-CP, including: fees for participating; staying in host countries; travelling (including plane tickets); transporting documents, products, and equipment serving competitions.

Best Regards!