The Initiative has the goal of creating a favorable environment for the creation and growth of new enterprises with high growth potential based on Intellectual Property (IP), new business model by:
- Establishing and improving the legal framework for supporting startups;
- Creating of national Startup portal; and
- Supporting 2000 startup projects, 600 of which will develop into firms and 100 of which will secure follow-on investment from investors or be bought by large corporations, with total value of 2000 Billion VND.
ISEV provides funding for intermediary entrepreneur-support organizations which perform activities that fall into 3 areas:
- Research, propose and establish legal frameworks that relates to the activities of startups
- Train and develop the capabilities of players in the innovative startup ecosystem
- Communicate and network for stakeholders in the innovative startup ecosystem
The implementation of the Initiative for Startup Ecosystem in Vietnam (ISEV) was assigned to the Ministry of Science and Technology (MOST).
May 18, 2016: The Initiative for Startup Ecosystem in Vietnam (ISEV) was approved by the Prime Minister via Decision 844.