The Creative Startup Center in Ho Chi Minh City is nearing completion with over 90% of the building now finished. Located at 123 Truong Dinh Street, District 3, the center consists of 11 floors, with 8 above ground and 3 underground. The lower floors will house state support activities for innovative startups, while the upper floors are intended to attract private sector participation in the development of the startup ecosystem in the city.

The center is a public service unit managed by the Ho Chi Minh City government and serves as a focal point for connecting and organizing activities, as well as providing support services for the innovative startup ecosystem. It is considered a hub that initiates the formation of a network to support creative startup activities in various sectors related to Ho Chi Minh City.

The space and operating model of the center are designed to be open and accessible to the community and businesses, allowing them to easily access information related to Ho Chi Minh’s startup ecosystem. The center is also responsible for the operation of the online platform (HOIP), which centralizes the ecosystem data system for businesses and startups to register and participate in the city’s support policy.

Despite progress made in supporting innovative startups in Ho Chi Minh City, there are still gaps in the domestic ecosystem. A report conducted by World Bank experts highlights problems such as low quality and level of government support policies, lack of risk investment mechanism, and complicated administrative procedures. These challenges underscore the need for continued attention and coordination with the startup community to improve effectiveness and efficiency.

In conclusion, efforts are being made to support and improve the innovative startup ecosystem in Ho Chi Minh City. The Department of Science and Technology is working on various initiatives to create a favorable environment for startup development. By addressing identified challenges and implementing effective policies, Ho Chi Minh City aims to foster a dynamic and successful startup ecosystem that drives economic growth and innovation.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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