Ho Chi Minh City significantly increases support for startups and technology companies.
Ho Chi Minh City uses its budget to support 50-100% of the costs for many items for science and technology enterprises, high-tech enterprises, and innovative startups.
A resolution stipulating the level of financial support for small and medium-sized enterprises (SMEs) that are science and technology enterprises, high-tech enterprises, and innovative startups was recently approved by the Ho Chi Minh City People's Council at its 3rd session on June 19th.
The policy was developed to concretize the orientations in Resolution 57 of the Politburo on the development of science and technology, innovation, and national digital transformation, while also implementing Resolution 68 on the development of the private economy.
The resolution provides support of 50% of the cost of digital transformation consulting, up to a maximum of 70 million VND per year for small enterprises and 170 million VND for medium-sized enterprises. The cost of renting or purchasing digital transformation solutions is also supported at 50%, with a maximum of 40 to 170 million VND depending on the size of the enterprise.
Businesses participating in Startup Connection Day organized by the Ho Chi Minh City Department of Science and Technology, May 27th. Photo: An Phuong
Businesses also receive support covering 50% of the cost of intellectual property management consulting and technology transfer, up to a maximum of 170 million VND per contract per year.
For businesses participating in industry clusters and value chains, the city proposes supporting 100% of the cost of building basic standards, quality management systems, and product certification in accordance with technical regulations. The maximum support ranges from 20 to 90 million VND depending on the content. Some product testing and quality inspection activities are also fully funded, up to a maximum of 50 million VND per year.
Specifically, innovative startup groups receive support covering 50% of the cost of perfecting new products and business models, up to a maximum of 90 million VND per year; and 50% of the cost of decoding and technology transfer, up to a maximum of 170 million VND.
(Note: The last sentence about innovative startups is unrelated to the preceding text and appears to be a separate, unrelated statement.) Businesses also receive support for personnel training, up to 10 million VND per trainee domestically and 90 million VND per trainee participating in short-term training courses abroad.
According to the city government, the new policy focuses on high-tech businesses, including approximately 151 science and technology enterprises, 13 high-tech enterprises, and about 1,500 innovative startups. Although they only account for about 0.45% of the total of over 415,000 businesses in the city, this group is considered to have the potential to create technological breakthroughs and added value.
The city stated that the rates were established based on an increase of approximately 70% compared to the rates issued in 2021, reflecting actual costs after many years of inflation and service price fluctuations.
To be eligible for the policy, businesses must meet the criteria for small and medium-sized enterprises (SMEs) as stipulated in Decree 80/2021, and also belong to the group of science and technology enterprises, high-tech enterprises, or innovative startups as defined by law. Applications will be reviewed by the supporting agency within 14 working days. In cases of limited resources, businesses that submit applications earlier will be given priority consideration.
Le Tuyet
Follow VNExpress