Assistance for startups in Vietnam

14:58, 23/06/2018

“Startup” is a small and medium-sized enterprise (SME) that is established to implement its business ideas based on the exploitation of intellectual property, technology and new business models and is able to grow quickly.

In addition to the general assistance for SMEs, startups are also supported specifically to promote development. To be specific:

- Assistance in the application and transfer of technologies, use of equipment at the technical establishments, incubators and co-working spaces, provision of instruction on testing and completing new products, services and business models;

- Assistance in advanced training in development of products, investment attraction, providing advice on intellectual property, carrying out the procedures related to technical regulations and standards, measurement and quality;

- Assistance in communication, publicity, promotion, connection of startups and attraction of investment from venture capital funds;

- Assistance in commercialization of the results of scientific research and technological development, exploitation and development of intellectual property;

- The Government shall introduce policies on interest rate subsidy on loans taken by startups.

A startup may receive the assistance if the following conditions are fulfilled:

- The startup has been put into operation for up to 05 years from the day on which its first ERC is issued.

- The startup has not initiated a public offering of its securities (in cases of a joint-stock company).

View details at Article 17 of the Law on providing assistance for small and medium-sized enterprises 2017 of Vietnam, effective from January 01, 2018.

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