Vietnam – India Innovation Startup Forum

To continue the activities to mark the 50th anniversary of diplomatic relations between Vietnam and India, in the afternoon of 12/11/2022, the Embassy of Vietnam in India, the National Economics University of Hanoi in collaboration with the KSUM Entrepreneurship Center in Kerala India, organized the “Vietnam – India Startup Forum” in the form of face-to-face and online at more than 50 destinations. connector of Vietnamese – Indian enterprises.,

In his opening remarks, Ambassador Extraordinary and Plenipotentiary of Vietnam to India Nguyen Thanh Hai emphasized the nature and significance of the first Vietnam-India startup forum held on the occasion of the 50th anniversary of diplomatic relations. The Ambassador said Vietnam and India have a long-standing traditional cooperation relationship and are now comprehensive strategic partners with important cooperation pillars including: politics-diplomacy, defense-security, economy-trade, science and technology and people-to-people exchanges. In the past 50 years, relations between the two countries have developed strongly, especially in the field of economy and trade. Currently, India is the 8th largest trading partner of Vietnam and Vietnam is the 15th largest trading partner of India and India has made positive contributions to the socio-economic development of Vietnam.

Sharing about India’s achievements in the field of creative start-ups and cooperation opportunities for Vietnam, Ambassador Nguyen Thanh Hai said: “India is a country with strengths in the fields of science and technology and entrepreneurship and innovation. India’s startup and innovation ecosystem over the years has continuously developed and has ranked 3rd in the world with nearly 80,000 startups, more than 110 companies have become unicorns with a capital of over 1 billion USD, 4 companies became decacorn companies with a capital of over 10 billion USD. Indian startups have researched, developed and applied many new technology solutions in many fields. Among India’s startup hubs, Kerala state is also home to many policies to facilitate the development of startup and innovation ecosystems. Kerala Startup Mission (KSUM) is the host that has contributed significantly to Kerala’s success in this area. The successes of India in general and Kerala in particular in the field of entrepreneurship and innovation can be shared and cooperated with other countries, including Vietnam”. The Ambassador affirmed that the field of entrepreneurship, innovation, a new field but with a lot of potential, opportunities for cooperation between the two sides and the Embassy of Vietnam in India will continue to implement many activities in the field of economy, trade and science and technology and continue to create more opportunities for organizations, Individuals in the startup and innovation ecosystem of the two sides are connected, thereby opening up many other cooperation opportunities in the future.

For his part, Prof. Dr. Pham Hong Chuong – Rector of National Economics University said that although cooperation in the economic field between Vietnam and India has achieved many achievements, cooperation in the field of creative start-ups between Vietnam and India is still modest. The activities of connecting startups, connecting startup ecosystems, connecting markets and investments between the two countries are not commensurate with the potential. Prof. Pham Hong Chuong said that it is necessary to strengthen cooperation activities, learn from experiences from India, connect the two countries’ ecosystems to develop both quantity and quality of innovative startups in Vietnam and the National Economics University as a leading university of Vietnam in the field of economics and business administration, as well as an organization supporting branded startups in the ecosystem in Vietnam through the activities of the Center for Entrepreneurship and Social Innovation under the University is always ready to accompany Vietnamese and Indian partners to create a network connecting innovative startups, investment funds, experts of the two countries, contributing to promoting start-up activities, serving the socio-economic development of the two countries.

The program has attracted the participation of nearly 20 Vietnamese and Indian investment funds and potential startups in the two ecosystems. After a sharing session on each country’s startup ecosystem from experts, 12 selected startups presented presentations and pitching on their projects and business models. Some projects of the Vietnamese side are interested in the Indian side such as the anti-hunchback, anti-proximity desk project for students, community sports model, organic milk project, yarn production from pineapple leaves … The projects participating in pitching from India are all projects in the field of technology such as educational technology, drones used in agriculture …

The Vietnam – India Creative Startup Forum hopes to open up practical and effective cooperation opportunities in the coming time between the innovation startup ecosystem between the two countries.

*Image source: VNA