The Vietnamese government launched Project 844 in 2016 (Decision No. 844/QD-TTg) to foster a dynamic startup ecosystem by supporting fast-growing enterprises built on intellectual property. In 2021, the project was expanded (Decision No. 188/QD-TTg) to enhance international integration, leverage overseas Vietnamese intellectual resources and develop a national startup support network.
Key Achievements
- Strengthening the legal framework: The Ministry of Science and Technology (MOST) has been proactive and diligent in coordinating with other ministries, branches and localities in proposing and promulgating legal framework to support innovative startups, especially: Law on supporting small and medium-sized enterprises, Decree No. 38/2018/ND-CP, Decree No. 39/2018/ND-CP, Decree No. 80/2021/ND-CP, …; Law on investment 2020, Decree No. 31/2021/ND-CP; Law on bidding, Decree guiding the Law on bidding 2024; Incentive policies and support for innovative startup investment activities in the legal system on technology transfer (Law on Technology Transfer, Decree No. 76/2018/ND-CP and guiding circulars); Policies to foster the innovative startup ecosystem in universities within the regulations on science and technology activities in higher education institutions (Decree No. 109/2022/ND-CP)
- Developing a national startup portal: An online platform provides legal guidance, patent information and networking opportunities, attracting nearly 2 million visits and cataloging 1,500 ecosystem-related data entries.
- Direct support for startups: Approximately 2,000 startup projects and 800 enterprises have received assistance, with 100 securing venture capital or M&A deals worth a combined 1,800 billion VND – achieving 90% of the program’s target.
- Building startup support centers: Innovation hubs have been established mainly in Hanoi, Da Nang, and Ho Chi Minh City, alongside public-private startup spaces in over a dozen provinces, including Hai Phong, Vinh Phuc, and Can Tho.
- Expanding global integration: Vietnam has positioned itself as an emerging startup hub, hosting Techfest International in the U.S., Korea, Singapore, Laos, and Australia. Collaboration agreements have been signed with key global partners like Enterprise Singapore, KOSME (Korea) and Business Finland, etc. At the same time, many closely connected networks have been developed: 100 Innovation Network (Ministry of Planning and Investment), Network of overseas Vietnamese intellectuals supporting startup (Ministry of Foreign Affairs), Vietchallenge Network (Association of Vietnamese Students in the United States), Alliance of Venture Capital Funds (in collaboration with the largest private venture fund in Vietnam at present: Thinkzone), National Innovation Startup Advisory Council (VCCI), Global Entrepreneurship Network (GEN) with VCCI, Startup Worldcup, etc.
Widespread impact and future direction
By 2024, Project 844 had been implemented in 60 provinces, with 40 localities establishing financial mechanisms to support startups. Recognized by international institutions like the World Bank, OECD, and ADB, the program has mobilized social resources to drive innovative solutions, promote green growth and scale up technology-driven business models.
Aligned with broader national and international startup initiatives, Project 844 continues to strengthen Vietnam’s startup ecosystem, ensuring its sustainable and impactful growth.
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