A festival for innovative start-ups themed “Connecting the Capital Region – Creativity and Development”, or Techfest Hanoi, is underway in Hanoi from October 12-14.

Speaking at the opening ceremony, Deputy Minister of Science and Technology Le Xuan Dinh said the event is one of the key initiatives aimed at spreading entrepreneurial and innovative spirit, developing the network of creative startups in the Hanoi Capital Region and the Red River Delta, and promoting the application of technological solutions in production and trade.

Permanent Vice Chairman of the municipal People’s Committee Le Hong Son said Hanoi leads the nation in terms of implementation of the Party, State, and Government's strategies and policies on sci-tech and innovation. According to data from Startup Blink (a global startup ecosystem research and mapping centre), Hanoi and Ho Chi Minh City are among the top 1,000 startup cities worldwide.

Startup and innovation activities in the capital city are vibrant and robust, with around 1,000 startups, accounting for 26.32% of the total nationwide. The city is now home to 32 incubators operating in multiple areas and 14 providers of business acceleration programmes, constituting 38.1% and 40% of the total across the country, respectively.

Since 2016, local startups and innovative businesses have raised 1 billion USD through 100 successful fundraising deals, he said.

On the occasion, he urged the city's departments and agencies to accelerate the building of the Hanoi Innovation and Startup Centre, which will serve as a hub for gathering, guiding, and connecting stakeholders within Hanoi's startup and innovation ecosystem and nearby regions.

The event is expected to feature a range of key activities, including an exhibition showcasing start-up and sci-tech projects and products, technology presentations, One Commune, One Product (OCOP) items, a technology and innovation startup forum, and a workshop on businesses with science, technology and innovation. There will also be a seminar on logistics and connectivity for capital region development, a youth innovation and start-up forum, and an innovation start-up competition./.