Great development potential for digital businesses in Da Nang

The currently burgeoning industrial revolution 4.0 has created many breakthroughs in information technology (IT) in Da Nang. This is a highly lucrative aspect in which both the national and municipal governments are interested as many supportive moves have been taken for the sake of IT businesses. According to the latest statistics from the Da Nang Department of Science and business incubators, the city has till date housed more than 136 projects and innovative startups incubated. The majority of incubated startups are active in the IT industry. Another bright example is Multi Viet Nam-developed MultiGlass which won the first prizes at the Pitching Competition – SURF 2019 and the national innovative entrepreneurship day Techfest 2019. Besides, the product won a second prize at the National Entrepreneurship Awards 2017, and it was also listed in the ‘Viet Nam Golden Book of Creativity 2016”. Likewise, EM&AI finished as a runner-up at TECHFEST 2020 hosted by the Ministry of Science and Technology, and won the top prize in the Startup Pitching 2020 contest organised by the Viet Nam Software and IT Services Association (VINASA), and the Innovative Financial Technology Solution award at the Orient Commercial Joint Stock Bank (OCB)- held Open API Challenge contest early December 2020.

Focus will be on supporting businesses to speed up technological innovations, overcome existing difficulties and make more development strides. In particular, startup businesses will have access to assistances in terms of business models, product development tips, communications strategies and incubation programmes in an attempt to raise investment in seed funding and venture rounds and make deeper penetration into the market. Also, they will be facilitated to participate in startup competitions and events, and have the chance to partner with domestic and foreign businesses.