(VOVworld) – Successful Vietnamese startups from the Silicon Valley Vietnam Project and potential startups from Oxford in the biotech and health sector gathered in Hanoi on Thursday to give opinions on the development of an ecosystem for technology entrepreneurs and startups in Vietnam.

Deputy PM Vu Duc Dam met with the start-up business circle on August 12 to assess policies and mechanisms, and to seek solutions to foster their development. (Photo: VNA)

Participants said the venture investment fund for science needs the strong involvement of the state as the first investor until it is running smoothly. Minister of Science and Technology Nguyen Quan said that“by studying the experience of developed countries, we’ll be able to shorten the time needed to reach the targets set for the Silicon Valley Vietnam Project. A venture investment fund for advanced technologies will be set up soon, pursuant to the Hi-tech Law. Venture investment funds involving multiple economic sectors will be established to help new businesses start up successfully and contribute to national industrialization and modernization.”

The front page of Olymsearch, one of nine technology startups in the Silicon Valley Vietnam Project launched by the Ministry of Science and Technology.