Ho Chi Minh City launches new innovation ecosystem for businesses
Ho Chi Minh City launches new innovation ecosystem for businesses
SoiHub, an innovation ecosystem for businesses, officially started its operations at the Tech Valley building in Quang Trung Software City (QTSC) in Ho Chi Minh City on Friday.
Keijo Norvanto, Ambassador of Finland to Vietnam, delivers a speech during the launch event of SoiHub at Quang Trung Software City (QTSC), District 12, Ho Chi Minh City, on October 25, 2024. Photo: Kim Thoa / Tuoi Tre News |
This initiative represents the culmination of a 15-year effort to cultivate Vietnam's Startup and Innovation Ecosystem (S&I), initially supported by Finland through various S&I projects.
Its goal is to foster high aspirations and innovative ideas within this ecosystem.
SoiHub aims to address challenges related to innovation, policy, and human resources for both domestic and international companies.
Its primary focus is to develop an ecosystem that includes a talent incubation space and prototype technologies aimed at promoting green growth in Vietnam.
This distinctive approach sets SoiHub apart from other innovation hubs in Ho Chi Minh City and across the country.
Pham Hong Quat, director-general of the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC), highlighted this uniqueness during the center's inauguration, noting that SoiHub is the first of its kind in Ho Chi Minh City.
He expressed hope that it would facilitate the successful implementation of creative ideas similar to those in Finland and the United States.
A key feature of SoiHub is its role as an international gateway that connects various stakeholders within the ecosystem, including government entities, tech startups, companies, international organizations, local businesses, and educational institutions.
Bui Thanh Hang, director of SoiHub, emphasized its special model, particularly given Vietnam's new policies and state support aimed at fostering growth in sectors such as electric vehicles, electronics, semiconductors, and green initiatives.
For companies looking to establish themselves in Vietnam or explore investment opportunities, SoiHub serves as a platform for presenting government policies.
Additionally, it seeks to create an ecosystem that promotes eco-friendly collaboration among businesses, global organizations, universities, and startups.
Through its tech-sandbox projects, SoiHub aims to develop a talent sandbox where domestic and international startup talents can engage with core technologies, deep technologies, and innovative business models.
Currently, SoiHub has partnered with several major domestic and international corporations such as Samsung, Qualcomm, Schneider Electric, Vingroup, and SaigonTel.
It collaborates with 20 local governments across Vietnam—including Hanoi, Ho Chi Minh City, Da Nang—and 75 renowned universities and research centers like Polytechnic University and Vin University.
One of SoiHub's standout initiatives is assisting Vietnam’s top universities in sourcing talent.
For example, in 2024, SoiHub helped a South Korean company recruit over 200 engineers skilled in artificial intelligence.
Furthermore, SoiHub supports its members in establishing offices at QTSC in the city's District 12.
Technology companies setting up here enjoy favorable conditions from QTSC, including tax exemptions for up to 11 years.
The location also offers convenient access—just 15 to 20 minutes from Tan Son Nhat International Airport and key areas like Downtown Ho Chi Minh City and various industrial zones.
With such strategic positioning, foreign businesses can easily relocate to either provincial areas or urban centers to establish factories and projects, thereby accelerating development and enhancing productivity in Vietnam.
