After three days of vibrant activities, the National Innovation and Startup Festival 2025 (TechFest Vietnam 2025) concluded as an inspiring event for both residents of the capital and visiting tourists. Through the successful coordination and organization of this event, Hanoi has demonstrated a strong transition from policy thinking to concrete action in promoting innovation and advancing local digital transformation.
Creating an Environment for Public Access to Technology
In 2025, alongside provinces and cities nationwide actively responding to the spirit of Resolution No. 57 on breakthroughs in science and technology development, innovation, and national digital transformation, Hanoi simultaneously adopted six resolutions related to science and technology development at a single session of the City People’s Council. These include new policy initiatives such as piloting the establishment of the Hanoi Venture Capital Fund, setting up the Hanoi Technology Exchange, and establishing the Hanoi Innovation Center. These breakthrough decisions reflect the city government’s strong reform-minded approach to creating an open and facilitative legal framework for science, technology, and innovation activities.
Hanoi Promotes the Spirit of Innovative Entrepreneurship
Immediately after establishing the necessary legal framework, Hanoi launched a wide range of practical initiatives to promote science and technology development, with TechFest Vietnam 2025 standing out as one of the city’s flagship events.
After 11 years of organization, TechFest Vietnam 2025 marked a significant transformation by shifting from an enclosed venue model to an open-space format, featuring numerous booths showcasing technology products, innovative solutions, and experiential zones arranged throughout the Hoan Kiem Lake pedestrian area.
According to Mr. Truong Viet Dung, Vice Chairman of the Hanoi People’s Committee, hosting the event in the Hoan Kiem Lake pedestrian zone demonstrates the capital’s determination to create the most open, accessible, and citizen-friendly environment for people to engage with technology and innovation. Notably, the atmosphere and spirit of digital transformation and innovative entrepreneurship permeated streets, alleys, and even cafés, spreading organically throughout urban life. This approach aligns with the city’s orientation toward people-centered innovation.
Meanwhile, according to the Hanoi Department of Science and Technology, the city is implementing numerous programs and policies to support innovative startups, with a focus on strengthening linkages among research institutes, universities, startups, and investment funds. Through TechFest Vietnam 2025, Hanoi has been piloting new policies, connecting the intellectual community with enterprises, and attracting investment resources to further develop the capital’s startup ecosystem.
Establishing a Venture Capital Fund with a Maximum Scale of VND 1.2 Trillion
Participation in TechFest Vietnam 2025 clearly showed that the event was carefully prepared by the Ministry of Science and Technology in coordination with the Hanoi municipal government to deliver the most meaningful and practical experiences to the public.
According to Mr. Pham Hong Quat, Director General of the Agency for Startup and Technology Enterprises (Ministry of Science and Technology), this year’s event differed from previous editions in two key aspects. First, it was driven by real problem statements proposed by investors, corporations, and enterprises to identify large-scale solutions. Second, investment connection activities were conducted online through competitions, discussions, and pitching sessions starting three months prior to the event. Only after selecting representative success stories and investment deals leading to concrete commitments were these results brought to the Hoan Kiem Lake pedestrian area, allowing the public to see tangible, real-world products. Mr. Pham Hong Quat emphasized that this approach enables deeper, more sustainable, and more far-reaching connections, thereby strengthening investor confidence.
Assessing TechFest Vietnam 2025 as a crucial event for advancing science and technology development in the coming period, Vice Chairman Truong Viet Dung stated that the festival has helped the city refine its local innovation index system for unified application across 126 communes and wards, as well as 15 departments and agencies. In addition, the open-space format allowed scientists, businesses, investors, students, and citizens to each find meaningful outcomes. Scientists, enterprises, and investors were able to connect and explore new markets; students found interactive learning environments; and citizens had the opportunity to directly observe and understand scientific and technological products applied in daily life—experiencing digital transformation in a far more tangible and intuitive way than through media alone.
Currently, Hanoi has introduced a range of practical solutions to support innovative startup activities. The city has established the Hanoi Technology Exchange with strong policy support for experimentation, commercialization promotion, valuation, and intellectual property protection; operates the Hanoi Innovation Center under a public–private partnership model to coordinate research, piloting, and commercialization; and is in the process of establishing the Hanoi Venture Capital Fund with a maximum scale of VND 1.2 trillion. Under this model, the state budget will contribute up to 49 percent, serving as a catalyst linking policy, capital markets, and the startup community.
Source: People’s Army Newspaper
