Promoting international partnerships is a key strategy for leveraging external resources to strengthen the country’s startup ecosystem. Through various initiatives, Vietnam has established strong collaborative ties with major international organizations such as the United Nations, the World Bank, USAID, and leading countries including the United States, European nations (Finland, Netherlands, Germany, Sweden, Italy, Switzerland), and Asian countries (South Korea, Japan, Singapore, Thailand, Malaysia, Australia). Many of these organizations and nations have robust, long-term support programs for startups. Notably, organizations like Tekes (Finland), GIZ (Germany), KOSME (South Korea), KOTRA (South Korea), NIA (Thailand), and JETRO (Japan) play a vital role in connecting and assisting Vietnamese startups by providing access to investment funds, financial support, technology transfer, and human resources training. These partnerships also help expand market reach and build brand recognition for Vietnamese startups.
Strong Partnership with South Korea
A highlight of international cooperation is the strong partnership between Vietnam and South Korea. In June 2023, Vietnam’s Ministry of Science and Technology and the Ministry of SMEs and Startups (MSS) of South Korea signed a Memorandum of Understanding (MOU) to cooperate on the development and exchange of resources within the startup ecosystem. In July 2024, both ministries formalized their collaboration with an official agreement to strengthen startup and innovation activities. Several initiatives have already been launched, such as the opening of the K-Startup Center in Hanoi in October 2023 and participation in the annual National Techfest event, helping Korean startups explore the Vietnamese market.
Expanding Global Linkages and Innovation Networks
As part of the effort to connect Vietnam’s startup ecosystem internationally, the Market and Science-Technology Enterprise Development Department has proactively signed cooperation agreements with numerous international organizations to foster long-term relationships and build sustainable links in the fields of science and technology. Notable collaborations include open innovation partnerships with Enterprise Singapore, ecosystem connections with the Shanghai Science and Technology Committee (China), Business Finland, and capacity-building projects with KOSME, K-Startup Center, and Innopolis (South Korea).
Flagship Programs and Legal Framework Support
The Vietnam-Finland Innovation Partnership Program (IPP2), launched in the second phase, is a pioneering initiative in Vietnam. This program focuses on policy support, training, and capacity-building to support innovative startups and contribute to the development of a healthy startup ecosystem. The Business Incubator Policy Development and Startup Incubation Program (BIPP) aims to create a favorable environment for small and medium-sized science and technology enterprises by improving the legal framework and establishing unified mechanisms to form and operate science and technology incubators.
Global Presence of Vietnam’s Science and Technology Network
Currently, Vietnam’s network of science and technology representatives has been deployed across 23 locations in 15 countries and territories. These representatives have actively supported domestic science and technology activities by seeking connections and facilitating the flow of knowledge and technology from abroad, providing valuable resources to support local startups.
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