Draft Law amending and supplementing several articles of the 2008 Law on Technology Transfer is being developed by the Ministry of Science and Technology to meet the current commercial market demands, especially the technology startup needs.
Article table of contents
After 10 years of implementing the Law on Technology Transfer 2006, certain accomplishments have been achieved. Currently, the socio-economic situation has undergone many changes, compelling the government to make appropriate adjustments in response to practical developments.
The Draft Law amending and supplementing certain articles of the Law on Technology Transfer contains many new points, including:
The draft abolishes Clause 3 of Article 8, Point b Clause 2 of Article 24, Clause 2 of Article 28, Article 33, and Clauses 2 and 3 of Article 44 of the Law on Technology Transfer 2006.
- Certificate of Eligibility for Service Activities in Technology Evaluation, Valuation, and Inspection:
For organizations engaging in service activities, technology evaluation, and inspection, besides the obligations stipulated in Clause 1 of Article 31, they are required to register for the Certificate of Eligibility for Service Activities in Technology Evaluation, Valuation, and Inspection as per the provisions of Article 32. Additionally, organizations engaging in these services must annually report their activities to the certifying authority.
- Expansion of Funds for Science Development and Encouragement of Technology Application and Innovation
To meet the demand and implement policies encouraging technological start-ups, the draft proposes allowing enterprises to use their science and technology development funds to invest, counter-fund, and receive counter-funding for technological start-up projects, nurturing scientific and technological enterprises, technology incubation, technology commercialization, research results, and technological development. The state supports part or all of the technology transfer costs between scientific and technological organizations and enterprises in prioritized investment areas and fields.
This can be seen as an opportunity for individuals with start-up ideas who are concerned about funding sources. After the draft is approved, the Government will also issue procedures and processes for the distribution of the science and technology development fund.
View the full text of the Draft here.
Contribute opinions on the Draft here.
