Vietnam begins a 4-day international festival for innovative start-ups


KUALA LUMPUR, Nov 26 (The Star/ANN): Vietnam is holding a four-day international festival for innovative start-ups called TECHFEST Vietnam 2020 beginning today (Nov 26), according to a statement sent to AseanPlus.

"This is the largest annual virtual event organized by the Ministry of Science and Technology of Vietnam (MOST) to cooperate with international partners to develop and promote science, technology, and innovation in Vietnam in particular and South East Asia in general," said the statement.

Taking place amid the global disruption caused by the Covid-19 pandemic, TECHFEST displays the dynamism of the Vietnamese start-up ecosystem among investors/investment funds, enterprises, and experts worldwide via virtual events on techfest.vn.

TECHFEST Vietnam 2020 is structured into 12 technology villages: (1) Medical Technology (2) Agricultural Technology (3) Educational Technology (4) Tourism and F&B Technology (5) Frontier Technology (6) Financial Technology (7) Smart Cities (8) Social Impact (9) Student Start-ups (10) Local Start-ups (11) Community (12) International village, with 250 potential start-ups booths, attracting nearly 200 investors, 150 corporations, enterprises and business accelerators virtually and physically.

A high-Level policy dialogue is expected to be held. Prime Minister Nguyen Xuan Phuc is expected to hold a discussion with the innovative start-up community on solving difficulties in conducting business and creating a favourable environment for start-up to grow.

In 2019, TECHFEST was held on an international scale for the first time in three developed startup-up ecosystems: the United States, South Korea, and Singapore, facilitating 20 prominent Vietnamese start-ups to access the global market and connecting over 100 international investors to the Vietnamese start-up ecosystem.

There are about 500 local and international investors with approximately 700 investments with a total value up to US$20 million.

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