There are eight technology transaction floors, 63 centres for technology application and development, and 43 technology incubators and sci-tech businesses in Vietnam, according to the Department for Development of Science-Technology Market and Businesses under the Ministry of Science and Technology.

Such events as technology-equipment fairs and technology startup festivals have positively affected the domestic sci-tech market. Technology transaction floors have proved effective in HCM City, Hai Phong city and Bac Giang province.

Deputy Minister of Science and Technology Tran Van Tung speaks at the conference (Poto: VNA)

The total value of technology transactions exceeded 13.7 trillion VND (613.7 million USD) between 2011 and 2015, up threefold from the 2006-2010 period, the department said.

Department Deputy Director Pham Duc Nghiem said the connection between researches and the market, between scientists and businesses remain weak. Existing intermediary organisations (such as mediators, consultants and examiners) have yet to effectively connect supply and demand or be active enough in technology transfer.

Aside from traditional intermediaries like technology transaction floors, technology fairs, and technology application and development centres, new forms have emerged such as business accelerators and co-working space. Most of them are located in big cities like HCM City, Hanoi, Da Nang and Can Tho.

Nghiem said the appearance of those new intermediaries has fuelled a new start-up and innovation wave in Vietnam.

To raise the sci-tech market’s effectiveness, it is necessary to push ahead with measures to develop traditional intermediary organisations, especially those at universities and research institutes, said Deputy Minister of Science and Technology Tran Van Tung.

He also underlined the need for stronger support for new intermediaries like business accelerators, start-up clubs, and technology and business incubators.