In the era of digital transformation, entrepreneurship has become a golden opportunity for Vietnamese youth to realize their ambitions, generate wealth, and contribute to national development through innovation and knowledge. Recognizing the vital role of young people as both the future and the driving force of the nation, the Vietnamese government has implemented various strategic policies and programs to support youth entrepreneurship.
A Nationwide Movement
Approved by the Prime Minister in 2022, the Youth Startup Support Program (2022–2030) has already demonstrated impressive impact:
- Nearly 2,600 student startup projects and 4,000 vocational startup ideas have been supported.
- Over 3,000 innovation competitions were held, attracting 370,000+ young participants and generating around 14,000 startup ideas.
- Approximately 16,000 projects received support with a combined funding of nearly 700 billion VND.
The Ho Chi Minh Communist Youth Union has made youth entrepreneurship a national mission. In 2021, the theme “Youth Startups and Career Building” reflected the Union’s commitment to reviving post-COVID economic activity and contributing to the nation’s development goals for 2025, 2030, and 2045.
The 12th National Youth Union Congress (2022–2027) highlighted entrepreneurship as one of three breakthrough priorities, aiming to support 7,000 innovation-driven youth startups and mobilize 15 trillion VND in startup loans for young people.
Building Skills and Spreading Awareness
From 2020 to 2023, the Youth Union and Student Associations have provided extensive training and communication to empower youth:
- Annual training workshops (both in-person and online) focused on startup knowledge, innovation, and ecosystem development.
- Collaborations with universities, local departments, and startup support units have enhanced project development capacity among youth leaders.
- National media and local youth websites promoted stories of young entrepreneurs and disseminated information on government policies, startup competitions, and funding resources.
Turning Ideas into Reality
Competitions and startup idea showcases have become key tools for identifying, mentoring, and investing in promising projects:
- Nearly 6,000 innovative projects were supported between 2020–2023.
- Events such as the Youth Startup Innovation Journey and the Rural Youth Startup Project Contest connected ideas to investors and mentors.
- National platforms for pitching and matching investment were established to increase visibility and viability for youth-led startups.
In the rural sector, startup contests encouraged youth to innovate in agriculture, eco-tourism, IT applications, and sustainable practices, helping build a robust startup ecosystem in underserved areas.
Creating an Inclusive Ecosystem
To foster an inclusive entrepreneurial environment, thousands of initiatives have been launched:
- Over 4,200 scientific and technological models were piloted for youth economic development.
- More than 2,000 high-tech agriculture models were introduced in remote and ethnic minority areas.
- Startup clubs, innovation spaces, and youth cooperatives have scaled in both size and impact, supported through partnerships with businesses, government agencies, and universities.
- Activities like job fairs, investment forums, and online startup exchanges have become annual staples.
Student associations have also taken the lead with campaigns like “Accompanying Students in Startups,” hosting talk shows, hackathons, and startup festivals that connect youth with resources and networks essential for growth.
Vietnam’s youth startup movement is not just a policy – it’s a nationwide force driving innovation, economic renewal, and a more inclusive future. With sustained investment and ecosystem-wide collaboration, the next generation of Vietnamese entrepreneurs is well-positioned to thrive in the global innovation landscape.
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