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Strategically positioned in the central region of Vietnam, Da Nang City has firmly established itself as a hub of innovation and a magnet for startups. With its array of incentives and special policies, the city has become an ideal destination for emerging businesses, offering both financial support and technological assistance, as well as fostering intellectual property development.
As the Deputy Director of the municipal Department of Science and Technology, Le Thi Thuc explained, Da Nang’s favourable mechanisms and policies are pivotal in nurturing a vibrant startup ecosystem. This supportive environment is expected to catalyse substantial growth in local startups and innovation, which, in turn, will play a critical role in enhancing enterprise development, driving economic progress, and improving the overall quality of life in the region.
The National Assembly recently reinforced Da Nang’s position as an innovation leader by passing a resolution that introduced several special policies aimed at bolstering science and technology advancements. These measures are designed to facilitate the growth of startups and foster breakthrough innovations.
Over the past three years, the city has allocated over 5 billion VND (approximately US$200,800) to support local startup and innovation projects. Among the standout initiatives are the FiveSS e-commerce platform, which connects suppliers and customers in the construction sector, and EM&AI JSC, which focuses on developing AI services.
The Centre for Innovative Startup Support has been proactive in linking local startup projects with international investment funds. This effort is complemented by the city’s establishment of the Da Nang-Seoul Startup Innovation Centre, which aims to provide additional resources and networking opportunities for local startups. Furthermore, Da Nang is actively promoting the creation of the Vietnam-Republic of Korea Investment Fund, which is expected to offer further support and facilitate startup growth.
Despite these advancements, Nguyen Duc Hoang, Deputy Director of the State Agency for Technology Innovation under the Ministry of Science and Technology, noted a significant gap between policy and its practical implementation in technology application and innovation within the central region.
To address this challenge, the agency is committed to working closely with local Departments of Science and Technology to enhance cooperation in research, technology transfer, and innovation. This collaborative effort will involve evaluating local production capacities and identifying specific technological needs in key areas to develop more targeted support measures.
OpenGov Asia reported that Da Nang is advancing its digital transformation to become a ‘smart’ city by enhancing digital database management. Vice Chairman Ho Ky Minh highlighted the crucial role of the World Bank’s support in implementing advanced digital solutions for communities and businesses.
Currently managing 1,200 open data sources, the city plans to introduce smart applications accessible to all users, building on its previous milestones like e-government and digital data initiatives.
Despite progress, Da Nang faces challenges in legal frameworks, policy development, and human resources. The city is partnering with tech firms Viettel and FPT to drive comprehensive digital transformation across various sectors. With a vision to be among ASEAN’s leading smart cities by 2030, Da Nang aims to integrate IoT, big data analytics, and AI. The World Bank’s recent US$100 million investment in Da Nang University underscores its commitment to supporting the city’s development and innovation.
Da Nang’s comprehensive approach to supporting innovation and startups highlights its commitment to becoming a leading centre of technological advancement in Vietnam. By leveraging its strategic location, encouraging policies and substantial financial investments, the city is poised to continue driving significant growth in the startup ecosystem. These efforts not only promise to elevate the local economy but also contribute to broader regional development, positioning Da Nang as a key player in Vietnam’s innovation landscape.
