This Year, the Creative Startup Center in Ho Chi Minh City is in Operation

New Creative Startup Hub in Ho Chi Minh City Aims to Boost Ecosystem Efficiency

The Creative Startup Center in Ho Chi Minh City is nearing completion, with an area of over 17,000 m2 and 90% complete. This was announced by Ms. Phan Thi Quy Truc, Deputy Head of the Technology Management and Technology Market Department at a conference on innovative startup activities in the city on April 3.

The center, located at 123 Truong Dinh, District 3, has been under construction for more than three years. It consists of 11 floors, with eight above ground and three underground. The lower floors will house state support activities for innovative startups, while the upper floors are intended to attract private sector participation in developing the startup ecosystem in the city.

The Creative Startup Center is a public service unit managed by the Ho Chi Minh City government. It serves as a hub that connects and organizes activities and provides support services for the innovative startup ecosystem in the city. The center aims to drive the formation of a network that supports creative startup activities in various sectors connected to Ho Chi Minh City.

The space and operating model of the center are designed to be open and accessible to both community members and businesses, allowing them to easily access information related to Ho Chi Minh City’s startup ecosystem. The center also operates an online platform (HOIP), which centralizes the ecosystem’s data system for businesses and startups to register and participate in the city’s support policies.

Despite progress made in supporting innovative startups in Ho Chi Minh City, there are still challenges that need to be addressed within the domestic ecosystem. A report conducted by World Bank experts highlights issues such as low-quality state support policies, lack of risk investment mechanisms, and complicated administrative procedures. These challenges underscore the need for continued attention and coordination with the startup community to enhance effectiveness and efficiency in supporting innovation within Ho Chi Minh City’s startup ecosystem.

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