Policies to support small and medium-sized enterprises in creative start-ups in Vietnam

According to Article 17 of the Law on provision of assistance for small and medium-sized enterprises 2017 of Vietnam, policies to support small and medium-sized enterprises in creative start-ups include the following contents:

- 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. The subsidy on interest rate is provided by credit institutions.

Note: 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 enterprise registration certificate is issued.

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

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

Ty Na

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