According to experts, although there is overlap, innovation and creative startups are different and need to be distinguished in order to have appropriate responses in state management.
Currently, 20 localities nationwide have developed and are developing projects to establish Centers for Supporting Innovative Startups (CITs); 60 provinces and cities have issued plans to implement projects on developing the CIT ecosystem; 39 provinces and cities have issued resolutions of the People's Councils regulating financial mechanisms for supporting innovative startups (CITs)...
Deputy Minister of Science and Technology Hoang Minh said that in recent times, many concepts of innovation and start-up innovation have been used inconsistently, leading to lack of uniformity or misunderstanding of the nature in management and policy development; there is still a lack of policies to develop the innovation ecosystem such as capital funding funds, policies to encourage individuals to invest in venture capital in innovation enterprises, and encourage innovation training programs in schools.
Furthermore, policies are still scattered and not focused on each industry, profession, and field; there are still limitations in building incubation, training, and consulting organizations for startups; there is a lack of connection between institutes and schools. Policies to support the commercialization of startup products are still lacking.
In particular, currently, start-up businesses face limitations in terms of capital, facilities, management skills, business operations, promotion, advertising or the ability to meet necessary administrative procedures; training activities for human resources of start-up businesses are still formal...
According to experts, although there is overlap, innovation and science and technology are different and need to be distinguished to have appropriate responses in state management.
Innovation is simply understood as the process of converting knowledge and technology into specific products. Innovation does not necessarily come from research and development activities but also from popularizing people's experience and knowledge, but cannot be separated from science and technology. The main subjects for implementing innovation are businesses and entrepreneurs.
Meanwhile, KNST focuses on the main activity of raising capital or IPO to invest, create new models, products, new businesses but do not have production activities to bring products to the market. KNST can be done by groups, individuals or can be carried out under the "borrowed cover" of small and medium enterprises (SMEs).
Currently, KNST is being “dedicated” to the SME community, leading to “misunderstanding” that startups are SMEs with inappropriate behaviors. Therefore, there needs to be a separate legal framework for KNST, and at the same time, there needs to be intermediary organizations to connect KNST with businesses as well as with other factors of the KNST ecosystem.
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