Startups discuss competitive edge needed to thrive
Startups discuss competitive edge needed to thrive
Startups in the central region, alongside State officials and enterprises, joined a discussion to evaluate the competitive advantages of innovative startups at a seminar on August 31 to develop the regional startup ecosystem.
Addressing the seminar held in Danang City, Vo Duy Khuong, board chairman at Danang Entrepreneurship Support (DNES), said that startups based in the central city of Danang and across the whole central region had not determined their competitive advantages. Accordingly, the event would offer opportunities for the relevant parties to discuss the issue.
Pham Duc Nam Trung, director of DNES, noted that technology service providers for the tourism industry have been the most successful startups in the central city in recent years.
According to Pham Ngoc Sinh, deputy director at the Department of Science and Technology of Quang Nam Province, agriculture and ecotourism are the strengths of the region.
Quang Nam has encouraged startups to join its “One Commune One Product” (OCOP) program, which provides financial backing of 50% of firms’ investment requirements, up to a maximum value of VND100 million, to stores that sell OCOP products. The maximum value is raised to VND500 million for district-level OCOP centers and VND1 billion for provincial OCOP centers, Sinh stated.
The provincial State official added that startups should not rush to grab profits as it takes time for an innovative startup to achieve success, especially in a demanding market.
Besides this, information technology and quality tourism services are strong fields for startups, said Phan Hai, board chairman of BQ Shoes Company, headquartered in Danang City.
Meanwhile, State management agencies should work out strategies to develop sectors where local startups and small- and medium-d enterprises have competitive advantages, suggested Nguyen Pham Ha Minh, director of the Saigon Innovation Hub (SIHUB).
The SIHUB head added that startups should quickly adopt effective measures to offer the best products at the most reasonable prices to customers.
