A technology commercialisation project modelled after the Silicon Valley was launched in Hanoi on October 18.
The project is designed to help Vietnamese hi-tech business start-ups
upgrade their products. At the same time, many experienced US experts
from Silicon Valley will offer them marketing tactics so that it will
be easier for them to attract venture capital, even if their products
are in the concept stage.
Successful start-ups are expected to
forge a wave of innovations which will transform the whole economy with
hi-tech and superior products, instead of low-value and
labour-intensive ones like now.
During the 2013-2014 period,
promising start-ups will take training courses offered by Silicon
Valley experts. Once graduated, they will be invited to attend the Demo
Day, a similar event held annually in the US where they are able to
experience the future of innovation and expand their contact lists.
A social investment fund named “Start-up Vietnam Foundation” will be
set up to call for domestic and foreign investment while introducing new
Vietnamese business players to various venture funds and start-up
training networks across the US.
According to Minister of
Science and Technology Nguyen Quan, thousands of universities, research
centres, organisations and individuals both at home and abroad apply for
patents in Vietnam each year. However, how to commercialise them
remains a challenge.-VNA